COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 918, 10 September 1910, Page 8

COMMERCIAL ITEMS.

'~:' .INVESTMENT, SHARES: ' ■■■'■,: ■■i-'Sales'-bf. Wellington-'." Woollen, ordinary Bhares, at £3 13s. ex dividend, and Wellington Meat - Export, £4 paid, at £5 ss. wore, recorded, yesterday; . .Bank shares continue Ho. display a weakening tendency,' but most other shares were without change. The|, Quotations 'were; as under:- ~ -. :'■.-,'■; Buyers Sellers Sales W .'." , „ , " £s.d ; £ a.d. £ a. d 'National Bank ...... 5.11 0 516 0 ' — Bank N.Z. ..-.:........... 10 •'. 1 0i —". ; -.'■—- Equitable Building'i 9 12' 6 '— . — Metropolitan; ...... 12 0 0 ■—■■'■' ■.•'; — National Mortgage 3 ,4 fl-.'.i' — ' '■■■ ■-:'■' .N.Z.. and Kivcr , . ;. . Plate :...„.. - _ ,21 0 • — > Well; Investment ;.. 0 11 0 0 11 6 Feilding.Gas ........ —.' 1:1. 9 -. -i Wellington.Gas (£10) 18' 5 0 ■—■•-■' —' ' Wellington Gas (£6 ■ ■155.) ••...■l3 12 6 iN.Z.- Insurance ...... 3 19 0 — — . South British' ...... 3-3 6 — ■ "':''_'■ • Standard'lnsurance — ' I's 6- — Gear Heat (£4) :.. 10 Sl'--' _ ■ : Gear Meat ■ (£1) ... 2 15 16 ' . : — : .'• ■ — Meat Export (£4) ... ; — . — 6 5 0 'Uea.tiixport(£2l2s, '. : | ;6d.)';'......T.;.....:...;.. ■■,— .346;' — Union' Steam "— .115 9 ■_- Well. Woollen (ord.) 3 12 6 - 3 13 0 r Well. Woollen (prof.) 2 12 6 -■ _ Taupiri Coal--..;: ;■ — : 10 6 — Wcstport Coal ...... ;— 6100 — Wes-tpoi't-Stockton 0 7.0 — _ Kaui'i Timber (15s. ■ ■■' paid) .'. 016 6 — _ LcyJand-O'Bricn. .... 17, 3 1 8 0 — N.Z. Con. Dental ... —:-. '12 6. — Sharlaud's, ord.. :.. ' — 12 6 — ' N.Z. Paper Mills ... 1 3 o.— _ ' Shardland's ord. ... — ■ 1-. 2 6 . — Saarland's pre!. ~-. 1 1 9 •■ — .; — Taranaki Petroleum 0 9 0 ' 0 9 9 — Taringamutu Totara, 113 0 115, 0, — ■.'•"•''BTJTTBK AND CHEESE.: .. : Tho New Zealand Loan and Mercantile Agency Company, Ltd., have issued a review of the inurkot for Australasian dairy, produco for the past season. In tho opening remarks it is stated that "A review of tho course of the market during the past season presents several unusual, features. At the opening of the season reports of abnormal • makers both in . Australia and New Zealand 'tended to restrict forward business, and almost generally the fueling was that shippers would be compelled to accept low values, whether they sold or consigned, but while almost record quantities arrived from tho Commonwealth and the Dominion, supplies proved insufficient for.Eomc needs, and values instead of aB customarily declining after Christmas moved upwards, prices for February, March, and part of April ruling higher even than at the opening of tho season. Tho chief factor in . bringing about this state of all airs was the shortage .In tho domestic production in Germany, in consequence of which almost the whole of the available supplies of Siberian butter and.considerable quantities of Danish, which

in ordinary circumstances would have come upon tho English markets, were directed to that country. The course of events proved—if further proof were.wanting—that the best policy for factories is to consign, those who followed thisoourso again reaping material 'benefit." With respect to tho prospects for the season which has just commenced, the review says with regard to buttel —"Although weather conditions in Australasia point to a prolific mako of butter during the coming season, there seems ovory reason to believe that the consumptive demand in Europe is on tho increase, ami that, as was the case last' season, a largo proportion of tho Dnnish and ■ Siberian supplies will' be deilected to Germany. In these circumstances colonial arrivals may be expected to meet a favourable market here, and values should rule upon a profitable basis, to. shippers." With respect to cheese, it is stated that "while it is yet too early to estimate with any precision the course of the market, It may, wo think, reasonably be anticipated that values-will not rule materially below the level of recent years, inoi'c particularly if the satisfactory general,trade conditions at present prevailing continue."

. AUSTRALIAN BANKING. The movement in the-deposits of tho Australasian banks for the. auarter ended Juno 30, 1910, .has been in the direction of expansion. The total-at the close of the last quarter, reached tho exceptional figure of £153,875,663, while for the corresponding quarter of 1909, tho amount stood at £137,811,973. Tho relative positions of' tho deposits and advances for tho June QuaTter aro shown below":— .:■' ■■'•'"'-.' June, 1909. ' June, 1910. Deposits ._.._..„.'........ 137,811,973 ' 153,875,663 Advances 119,867,756 121,595,803 [Excess, of deposits 17,944,217 [ 32,279,860 It will 'be seen from the above: that while ,the deposits have expanded over sixteen millions sterling in the twelve-months, the 1 advances have shown an expansion of less than two millions. These figures attest the prosperity of Australasia. The following is a comparison of deposits in each State, with the ' corresponding period of 1909:— , , .■••-.'••• •June,l9o9, June,l9lo. Victoria .',..[„..,. 37,637,546 :40,833,683 ■ ! -N.S. Wales™.;... 43,979,718 .49,381,478 ' .' Queensland.' ....... 16,054,329 17,335,220, S. Australia, ..:... 9,413,060 10,470>990 ■■'• W. Australia .;. . 4,987,896 , .6,129,667 •.-.'. Tasmania. 3,665,627 : 3,729,950 "■:''.' Australia,-....;..; 115,738,176, 127,880,987 /New Zealand... . 22,073,797 25,994,676 .:[.',.-; ,'.... [,[137,811,973 153,875,6fcS '. The New Zealand figures compare very favourably with those of the States of the Commonwealth.,, r . ~, ,--.'', ..The movements ~in the advances-, submitted to: the-;same ■' comparison aro as shown below:—: ."•.';.•■"■, / •/ ;-.' ~ ,'.': .'June, 1909. ; June,l9lo. ', .Tictoria . ...[..v„„. 31,604,262. 33,229,890 . ; /, N.S. Wales .........: 37,089,037 , 37,455,831. Queensland ...... 15,557,069 : 15,191,159 S.Australia' • 5,808,329' 6,621,824 ; W.. Australia,.... 5,569,763 . 6,070,230 : '..Tasmania :......./.. 2,946,370- , 2,924,995,: Australia:'.[...'..; 98,574,830 "-101,-393,929 '' -~'.. New ; ", Zealand' 21j292,926 . ,20,201,874:,, ' '"'. A : \: ".'.j...' [;['; ; 119,867,756; 121,595;803 ,'/ Four of /the States—Victoria; South 'Aus-tralia,,-New .South -Wales, and West Aus-. tralia—show/increases, . the, heaviest increases' . being ; ia Victoria'and' South AuV. tralia. -Queensland-and Tasmania exhibit trifling decreases, while the/New Zealand decrease is substantial. ■'."■..

Customs.' revenue collected', at the port of.' Wellington .yesterday ■ amounted to £2138 9s. ",'.'■■'■ :;■ -■■„ ;'-.,'■.,:

.;,'FItUIT: AND' PRODUCE [.EEPORT[;,/ /The New Zealand Fruit' and. Produce Co. report:'—A good' demand exists for. both fruit and vegetables. A..fairly large: consignment came to-hand from: Sydney this week, and realised'satisfactory'''prices.'.We are how practically . dependant on Tasmania for. our.: supply ,of apples and,-, oven though a great many of them arrivo here bruised, a keen inquiry- exists for. tho best brands. /The: following, show tho prices ruling, here:—Potatoes, '. Bs. .3d: to: :95.. cwt.;.. onions/ 6s. . 6d.. ' to'■ ' 7s. cwt;; swedes,. 2s.' cwt.;., turnips,.-4s. to" 4s.- 9d. sack; carrots,' ss. 6d./ t0,,75., cask; parsnips, 10s.; to 10s.i6d.r-cask; cabbage, 7s. to 10s: 9d.- cask; caulillower,' 6s, to 10s.' 6d. cask; .'pumpkin, : :'3s','"to 4s. sack; marrows, 2s; to '3s, sack; peas, '4d. per lb.;.celery, 2s. to.4s. doz,; lottuce,. 2s. to 3s. 6d, case; 6pinacli; 4s.:to ss. case;"cucumbers, lCs/.to lls..Cd. ca3o;' apples:. Washington 7s. 9a. to 8s; 6d., Stonepippin 7s. to 85.,. Rokowood 7s. to Bs.; Mobai't apples,. Scarlet .'PermainG-9s. to 10s. 3d.,' Stonepippin Bs.' to Bs. 6d.; Epps Scedlingß 4s.to 55..6 d., Sturmcrs:.7s...to. 85.,6 d„ Cat's Head ,Bs.: to' Bs. 6d., French crabs 8s; 9d. to 105..' russets :95.. to 10s.;,'passion fruit,: 75..-9 d. to'Bs. 3d.; .'oranges (Sydney), ss. 6d.. to 7s.j..bananas, 15s. to 16s;; mandarins, .lis.,to ,12s. 6d.; pears, cooking Vs. 6d.:to Bs. 6d., dessert 4s. 6d. haif-caßO;pines, 9s. -to ,10s.; "lemons-,/ Bs.. to 95.; cggs.'.llld. to Is., doz.; chaff, £5 to £5. 155.;; oats. A'gvado Gartons,. 25.. Bd.; rice. 6S. 6d.V (501b.) .mat; bran, "Bs. : 3d.vsack; wheat, /4s. to 4s. 3d. bushel; straw, Za. .to 2s. 3d. bale; pollard,., £6 ton; ducks,, ,4s. 6d.: to 6s. pair; peanuts; 235. sack; hens,.3s; to 3s. 6d. pair.

'.'BANK/OPBNGLANDiEETII'RN; ' : BjfTeleerßph-Press AssociMion-CJoprrieh': ■r.:':'. . ■.-. (EecV September 9, ,8.25 p'.m;)', ■:'::{' '.;.■ ''.':• .' London' .September .B.■: ,- The Bank- of England return' issued for tbe week ended Wednesday, September. 7, •is.as'un'de'r:—,'v.'.'-" : : ;.- ■.;. _ -=: ".:'-"-■-_--v."_-". : -i --..i~'' - "'■..,'■•:'•■'■'.•ißSnß DBPAJITiraNT.'-: '~' . '.--. Note Issue'.... ; i56,530,000' Gov. debt ... ijl.mrj.OOl V , \ .. .Otherßecuri- ,'■..,.■ ■'■■■:'/■■':■■■ \ ■'■'■ ■■■;':• ties '-. ~. ■' 7,434,000 ■■;■..•..;;' '.-■.;■ .■■■.... .-.■.. Gold ,; '.„■ ss.uuom ;'.:.;'" ; : / ' f50.550.000 :': ■". . ''. £56,500,1.1)0 ;■,.':.. BiKEINODE'pAETiniNT.'". Proprietors' ■ '■' Govt.Becuri- • capital : £14.563,000 . ties... ...£15,875,000 Public de- : .:■'• ■ "Other seouri- .-: posits ■,':...: 16,863,000. ■. ties..... ... ■ 20,693,000 Otherde-*' '~'■' ' .■;. ../ . '.'posits: ;....;; IOiUB.OOO Notes \ ... 28,357,000 'Rost,7-day ■ ■ ■'-..■ j.» . . andother ' . Coin .„■ '„i 11301,000 :bUle..v .... 9,694,000 ; .''■.■.':.;..';'.'■ £75,258.000 V-;:i'.'-V ; ."The leading, items of the Bank of England .'return afford the .following com. . pariso'n :—;-. ■. *' t ■'.:;. ■'. . . This week. Last week, Last yoar '■'.".-' .' '•• l: ''."■ ■■: £.■ '■■''•. £ £ ■• Bullion '.'..'. ■'"... 38i111,000. 38,657,000 38,8,',3,000 Beserve .;.', ... 29,(ic8,«» ' . S9,TSS,UUJ . 29,446,1,00 Isote circulation ' SSS,2U3,UX) "g.ie.OOO Publio Deposits •' 1ti,863,UW 17,187,1XX> ' b.Ooo,UJO ■ Other Deposits 4U,143,1XAJ - U0,617,«W.' i7,SIB,tXJU I Proportion of ; ."-, '•„: . reßorvo 'to ' . :•.■ ".. ••..'. ' ■'■.■. .'■' -. liabilities .... . .62.06 : 61.52 52.63 GOVERNMENT SECURITIES. . The , following; aro the latest quotationi for' Government securities,.' with a com. : parison or ;tuose ruling last week :-'■'-

BANK KATES OF.INTEREST. ; ■; The Bank of England discount rate was raised on October 7 last from 2i to S .per cunt., on October 14 to 1 per cent., and on October 21 to 6 per cent. On 'December' 9 it was reduced,to 41 per cent.; on January 20 to'"'3l' per cent., and ,on' February 10 to i per cent. On March 17 it was'asa-in raised to' 4 per cent., on Juno 2 it was reduced to 31 per cent., and on June 9 to 3 per cent. . Tho Bank of Franco rate was ' reduced

from 3J to 3 per cent., on January 23, 1908, and remains at tho latter figure. The Imperial Bank of Germany, on September 20 last, advanced its rate from 3i to 4 per cent., and on October 11 to 5 per cent.; lowered same on January '21 to 4J per cent., and on February 10 to 4 per. cent. MARKET RATES OP DISCOUNT. Tho following are tho market ratoß for best three months' bills:— London Paris Berlin rate. rate. , rate. per cent per cent, per cent. September 8 3 2b 33 Last week' 3j 2J ' 33 , , Last year lj ljj 23 Short loans are quoted in London at-18 per cent,, as against 1? per cent, to 2J per cent, last week, and 2 per cent, to 2* per cent, a fortnight ago. '

-COLONIAL,AND OTHER PRODUCE., Wheat.-The markets are steady and inactive, and values are practically unchanged. Pair: harvest weather prevails m England and the Qontinent. Australian curgoes arc dull; 395. 9d. is asked for Octo-ber-November shipment, and 395. for now crop January-February shipment; 375. 9d. to :375. lOAd: has been paid for parcels August-September shipment. There is a ,i mlk! ,? d emand for Australian,- on spot, at tOs.; Now Zealand, at 345. to 355. 6d. Flour is quiet; 'on. spot, at Glasgow, 275. .ou.i forward business is entirely neglected. Oats.---Good demand for spot lots. Gartons, 18s. 6d. t0.215. 6d.; sparrowbills,. 17s. 6d. to 205.; La Plata, - Septembor-Octobor shipment, 13s. 9d. . gutter is firm, but quiet. A: few lots /ot stored New Zealand choicest' are selling at 1125.,t0 1165.; .Australian. 108s. to 110s.; secondary is neglected; South Australian sold at about 106s. '"• I „Sugar, German beet,.Bßdeg., 4d; lower, at 12s. lid. per ,cwt.; first mark, granulated, in"' Hamburg, unchanged, at - 16s; - 6d. • .Bradford. Tops.-The market is firm; forties, Jd. higher, at Isd. • per lb.; fortysixes, 3d. higher, at 17d.; common sixties, unchanged* at 27d.; super sixties, 'unouangeu. at 28d.; .sixty-fours, unchanged, 3rt. 'Z3u, ; ■ •

.'.■.'•, .THE .METAL MARKETS. ■'' - Oopper[-On spot, • ss. -higher, at- £55 15s. per -ton;, three months, 3s. 9d:: higher, at ±56 10s. . . , , - spot/.£lhißh'er,'.at.-£163 10s. per Lead,. 2s. '6d. lower, at £12'8s:/9d[ per [torn. Pig-iron, 3d. lower, at 49a. 6d., per ton. Spelter, 75., 6d. higher, at £22 15s. per'ton. ■;, \[ ; BANE : ;OF AUSTRALASIA. -' By Telesraph—Press Association-Copyright '::■ . (Rec. . September. 9, . 8.25 p.m.) : ■' mi -n ■'", ■'"■ ;':. ■ Lo '" 1 ("li September 8. - ihe Bank of Australasia has declared;a dividend, of 12 per - cent.',- and a" bonus - of 16s. per share;: £50,CC0 is' added to the'reserve; fund; ,£IB,OOO has "been written off premises account.- and there remains to .be carried forward' £15,000. .-., .-• :,.;'.,,

■[■■' 1.. ' . .-'■ LONDON/MARKETS. '■;' -■■;." : - ; : /Messrs.; Dalgety .and Company; Limited, report haying'- received cable advice from their London house under-/ date. September 9 as follows :-Frozen Meat—Beef: There is a .poor demand;, market-'weak and supplies largo., We:quote: ; New -ZeaiimivtiTao ox beef,.fores, 2»d. per lb.; hinds, 3Jd. ner lb. .Lamb: Less: demand, market: being dull, but holders I 'firm.' Wo; quote: -New Zealand crossbred lamb, Canterbury heavv, 4Sd. per lb.;• light, 55d. -per-lb.;, North Inland, heavy, ,4tld.'.per ;lb.; light, sd. Mutton: There is. a limited demand;,the market being, dull, but sellers firm.-.We quote: New Zealand lino-crossbred mutton, Canterbury, heavy,,3Jd.:per 'lb.; light, 4d[ per 1, lb.; North -Island,/ heavy,. 3Jd. per lb;; light, 3Jd.' per lb.'; Mutton' and lamb; ; It is' difficult to realise 'at. tho price quoted, except in the case of light-weight carcasses, y/i''

.!, '"'■"'. '. ••' Variations;. —' ; . compared Fries, with •' '■ " r ' ■ ■ ■ last weok. . ■ '.■■..-. ■ :■:■;•:- ■ £ s. a. " 24% Imperial Consols 80 10 0 20s. lower 1 ,;N.B.VV.19o3Jan.-JuIy 105 o 0 Unchanged 34 .,N.S.\V.1918-uar.-Sep. fls. 0 0 Unchamjod 3 „N.B.'W.l!f35Al>l:-l)eli. .■ 8ti 10 0 . 3Ls. lower 4 „"Vic.W!WJan.-July 102 0 0 Uiichariaed 34 „-"\'ic. UKMSJau.-July OS; 0 0 ' 6s. lower b „Yic.l!MM9Jao.-July ."85 10 "0 Unchanaod 34 „8,A. l'JIGJau.-J.uly . 97 5 0 U'uchaueod 3 -„S,A. liilUJau.-July .: S3 0 0 Ks.tidt lower i ,„QTdl915-21Jaa.-July 10i 0 0 .'is.M.lowor 34 ,, U'l'dM-MUam-July U8 0 0 : 5s. lower .3 ■ ll Q , rdltofcM7Jan.-July SC O'O '15s. lower i „N.Z. uaaay-Nov.. 105 0 ' 0. Unchanged 34 „N.S5.1010Jan.-July OS. 5 0 Unchanged 3 „N;i4; 101.'.Aiicil-Oct.,. BG 10 0 3 Os.lowoc 3j„W.A.10-20-10alay-Xov 8710 0 Unchanged 3 „\V.A,lU15-b5ilay-Nov 88 0. 0 Unchanged 34 „ Tas. 1MUJan.-July ■ 99 0 0 • Unchanged 3 „'l'»B.litiO-10Jan.-July; 86 0 0 Unchanged