COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 944, 11 October 1910, Page 8

COMMERCIAL ITEMS.

~ INVESTMENT SHAKES "\- '-'/,\ Tho market for investment ■■ shares was quiet -'.yesterday,, and no' business, was done, I'riccs were unchanged. "., ■ ' ~ buyers.) .Sellers. r '- "1... '■ ..". £s. d. .' ■ £s. d. National . Bank ..;.V..™. 515 6 - o 16' d Equitable Building ' — 10.0 0 \tall.:Uas (i.6 lbs.) ;."'."■■— ■ ' 14 0 0' Well. Gas, (new issuoiW- — : 215 0 ■N'.Z..-■lnsurance '....,'..:...'...-: ,: 4-0 ..-6 .' —• South' British .....'......;... : ''-.—". 3.8 6 Standard'/Insurance' ...:.. 1 5' 3 — . Christchurch Meat ......... 14 .1 0 .•..■•■:. - . ■Meat Export (525.'. 6d.) ....;•■ — 3 4 (T Well.' Woollen, (ord.) "3 12 0"" . -•-' > Well;-. Woollen (pref.)/.-.....-' ■'.- : .2 15'; 9 TaiipirlCoal .: ...........-,•'—.'..';< 10-6 Wostport: Coal ,:,;.;.;.;;.;„..;; 6.7 6' ~. '— OMyland-OBricn '~...-.;..:...... II 0", : 1 7 6 N.Z. Com Dental :....:...... 1.1 0. ' 1 -1:;9 N.Z.: Drug". ;..- ■ -Ml. 3 Sharlaiid's-(ord.l ..;..-, ■'■■?-:. ;- 1.2..3 -Taranaki Petroleum ; ......' — '•'. "• 0 ?" : -0' Ward and Co. .V.-.'..v... : .'... .5 2 .6.: .„ 55 ~0 . I ■'.;''. ■, I' B ANICB ALANOE^HEEIS.:;.:/ /; -~ ,'TheV"lnvestors'•'Hcviow". : ',(liondon)' of a recent date'makes reference to tome, minor points in bank .balance-sheets,. which'• deserve more attention .than : they at present receive from those'whb study sucn accounts. The first ItemV is .the amount .of. capital locked., utS'- in-' proiniscK.' an. asset that may be.of no usc.akall in timea or crisis. : Tho figures of twenty London.banks show ■ paid-tip capital'" about' £31,500,000, ■ re-, serve, funds,'±'22,sl(l,ooo,, and real estate £13,000,000; -'Certainly-'-soinc of. the. lastnamed represents- rcnfryielding property,' but, allowing for that' sum, over .25 per cent. of. :tli'ebanks\.o\v'u/resources are' tied up In. real-.estate.;' 'Aeording-Ho/statistics. :compiled' byvthe, Record," the.22'.banks-doing business hi tho Commonwealth"and-New Zealand on/Juno 30 -last' had total, shareholders' funds, in.' ■£29,618,517," and. "bank-' p'roiicrty. valued. at £5,620,332.- ''.The'-proportion: inlthe/ lattercase isvffi-per cent.locked,up,in bank premises, and,the tendency is for this ittm.lo diminish-rather-tlian to increase,'.the total howvbeing, slightly less, than; it,was -three years ago. '; Another •poiht; to,which the "'licview''' refers' is ;.thd' amount Mocked up .i'n:inves'tmentSi,.nd':lcssVthan" £85,250,000. of. tho• total'resources:of the 20.banks,..or 15; per: centi;' being'- put away, in■; marketablesecurities.-;: In' this- connection.iit is ; suggested: that these:'investments ought; :to 'bo ■kept' rigbr-buslv;-,writteii;',:dosvn'f.to:, their Rtocki Exchange lvalue,-., and thus':.form an 'additional' supp'drt.'-ih-.timcsjpf neett;: ,MnKS holding Imperial'' Consols" must/write down :this>security':tO;£7B:'or ; :£79. I :- ?\.:z~t: ■..' V,..

•'■■' Custom's revenue'-collected^'at /the" port,'of : Wellington''i yesterday v. amounted : to ' £26/6 'Ms.^Ai;£t\ : :'};l-,:-J^K $:''it..■■;:;£'/"'■ ,;/. ; .!;v! >'' /-/y. By; Telegraph—Press Association— ObpyTlEM.' J ',''.'-'.'.'.S;' , ' ! ''.'.''.'' ■^'/•'"London,;-October. 8;;; :', : The British-Australasian' Trustand'lioan Cbinpany. .has- declared; an .interim diyidena !pf ;5; per/cent;; .:'■!*" V-/.^;--'!■''■''; .' : M^EETg: : ?;^, : :-!'/'';;;v ;By'TeleEraph--Press!AOTpciation^pppyTi '.if'.! !•• $■£■?<■■£'; i'--.-; : .' ÜbiiUon/iObtober'9.; .. i.Hemp,- : is ; : auiet;;.'. F.air.'.lOctober-December:. shipment is quoted at/-£2l ;10s. -'■..".'.'.■■•/;'■', ■■■'• ' i Copra,'; flat, /arid, freely: ! pffere'd; '■■ -.Sputa Seav:bags,';i;2s:'>^;.RS^::V;::^;:':V;!:'■ ; :> : ' ; -C:v;■•' ■J / Cotton —The '. ■ Liverpool, ..auptatipn v for; middling 'upland • American 'cotton; is; 7.61 a. ,■ , ; ; KubberHrFihe,'; hard 6a.;; ;sd>;per:lb.. "j Kauri'.';gum',; ; ih;stock;;; 341/ cases;..-':•,■-.,...-':•,■-.,. '§. ; Associatibn—OopyriElit/ '■;?s:<■;■',■■'?, ■--&;';,■'' v :.' I '^London,.; October -iC 1 -/ /.i/Silverl—Bar'silver r is;;Qubted;-at'2Sd:/per ounce .standard.;-v>, -'»; :>'■::;•."" : ~:' : y<\ L .':-'' '■■■•' v.4'Co'ppeT J .!.''oii''! I .t4e;i- 1 Bpot;.;-;£56; ss.';.per.; .ton; ;oireß;mbiiths, ! *£s7' '3d. ' : : : if, !;";.'-. ■'•■■ ■;:':'' V-.'i 'rmn.^Sppti>-r£161 : . : 155.-.;perv,tpn; : thrcol ;v',;. ; |:^,i:.W. v '.'. : ...•',.;;. ; :'J .;; ■; '■; v '■■■ ;; t The '.'Commer'ce-V'arid" Tourists' Division' of t : tho.-Department '■ bf :.■ Oomraerco ■arid'.Tourists;!hafl-received the,: following cabled report; from the,: High Commissioher,; -'da,ted : ,London,''.Oct<>bQr 8..'-.v'Qnotatipna,.'un-less ;otherwise''siieciiie'd, ..arc; average ;market"p?'ices''on; ;.. v '. :'.'!•;./.".; •./ ." : '| ="'Mutton.^Tho, m'arlcet- is ftrm,';but":bnly. ; -mbderat'o, Pwirig";;to induced' supplies','!Oaa;-'.| terbury'!4Jd.;-j'HorthV Island 14d." pprvlb;':-.;' : '■'}. Lamb;—There'ha's.;bcan ! ;.rio~ altoriition 'in. jthe-market'■:since.'la'at "week."-'? Canterbury sW:','!other than -flantCTbury-';sJd!"per■ 1b..',, .' ..is'fibetter-;'demand :;and. the' : market', is .firmer.' ■ ; .Supplies'. ef .'American chilled beef are. smaller New.; Zealand'hinds; ; 3id;,:sferes > 23d.^per;lb'; v :^?^s;;/']'/:-i>'';;. a C'.Butteri—The maiket.is;quiet; : ;but'steady; '■■aid;-shows■■ signs' : ;of.-.'streiißth i -:-;'fbri'..' best .giiiility.V.New Zealand;;rio:supply,.'en hand.--Australian, '115s;,.vDanisli;v,118s.,;. Siberian! ■106s.;:per,owt. '.::;'■,]■'.?'"■'!:•'•: !,:,;>;:■'&"■'•'"■-'''''-vi '5! ;m'arke't";'iSf';Quiet',-;but firmi" ■'Buyer's ■'-; In'' 'cheese'j'are",very" limited;-'*;' of, fN.e'w>::'Zealarid',.(meese ; iiis'i.'practiba.lly ;; c exv ' hausted;-";.: Canadian; ( 555,;.., >;: ;;;-:...:'■;■';;';;''■', : "''. ; ;.' ; market.; "ii'an'd;,' oiily ,;moderat«:; : ,::P^.ices';are,.;nrmer;' : ; ;Nevr;.Zeala.ndV'good..iair, : : : /bn','sp6l,';'pQr,.>,t6n',' :£U :IQsiJ fair grade',': £21 ■lOs.jvfair 'current Manila, "£2O .''lss.;; -i orward:,'shipnient; ".about. ■the;same.,;The output;from!Manila'for!thb, '!weelc was'22,CoO. : balesi.::" v :i;;. : ■■■ %;■:;':'.'.■:-'-•

.•.'."Eiv'er'.'Hate',., ;,following., are. shipments;;of. frozen;,mutton, and, lamb. receiTed fr'om-the.'i'Af'geritine during Sep-: ;tember/1910:f-;..S;-7''':''';''?. , '.', '■'i'.'";'']-!"..? 1 .'.-"'/:;-V ; '/.^r : rVH*;' , iOarcasseB. ■:-:,•;■-.':■;. ■'■,"•''.-■;.;■..'-''.■'■'. : -;.[.'. •t:'-fV''i : .-■ :; jjiutiori;i.: l Lamb'.l-'' ■; l : '66,901' ". -11,916 ■'",;"." .'. , i -,-"Liverpobl:,:-.:;.J:™;-55184i;' 422: "-.v 1 c.7;607;v;;::,i;038::;:-;•; i\:i:.ii Cardiff^'v;;....;i;.i:i ; ,*;6,926 -y: :/..:, ,.599.-:;>,;. v-:;.'; : .lrolaud'.;/';„i;.^i;»;'"3i3U..,'/:',-—-.; :-'■.'• | ■;fes 12,472;. ..;'V:; : ;500 : U ...•" !^:SS ;'tJ-^v^■(';■ ; i'ubfflf.'■ 'ii4.4M 'a?-1 \ '•By TglegfaphT-Press Assqc.iatidii^dopyright';; 1 ';'.i,' ;: '.%''*.' ?:':?'* '■■ U Tenders':weie".recei ved:.to.day ;for; the; pur-'.

bbasßl.'of about;7ooo £1 ■ fully-paid, shares;in' the ;AuQkla'.nd..:Gas Compahy.,'. No ifewer; than; 27,'31Z'ivexo lapplied,',fdr|, and 8508:\vfire: ; > £3'4b;: 6dl; per;;share.Cv.'.The.;'total;..sum'thus- received was': £27,438.;-;;;.,; : ;' : ';^ : ';\2 ;:{.'■ :-:./-'.-;"*".-"■"*-.: ■ (|§|LpNDONsw^ii : ;^L^W IBEEGirLAE.-; 'Jih;, .By •' • ; ;'.'-' _ 7i''.' ,r v'- -vV■'-■ ' : -■'■' -■:■•-. Londbn,M.October.' 9i- '■: ;'!;Tbb;'wool "sales 'have: concluded., '—'.•;> .:, ■„\ ;The.' Quantity /..sold'..'. to:.. Home':. buyers amounted .to ,76,000 bales; to; the. Continent,; ■41',6t0'; .and'to the .United: States,',4oo. '.'.v.: ; '.' ; ,i .Thirteen.tbou'saiK};bales are carried;over to ;';-::'■'-"'"r;.''.;,''-...,;',.'. '- .pric'eifor;the:'Titi cliirwas; lld. : perUb.i,.,and:tho average' 103d.,i.,,,y. ~;;•.,'■'.';. 'fe ; 6Tflp|^H : ;■■'■-' By ''^^^v^^H^i^^^^Q^i^ißliii-';Vh'Z::i-:-~?■'.■'i\'-i ' :^:-'':.'Contion^-OctoberViO^;:. ; ■..Tho;'following.: prices.;fwereSrealised : by. New.;-ZealaHd',clips',,at': the-i-wbol;.sales:—;: Poparatu;,: top- 10d;; average,. 95d."EananaV 10Jd;iand 9}d.'Halt'aterama,',l2d. ; '.and. Hid. :Retb,;;l3id.v;and,\l22d.: ; Hiloe,' 12d.i and x lOJd. \h : 'f,;Comp.ared.with'. the,;;July;:series .inerinos, ; gbb,d;-;greasy'.' combing, -showj'about.Si per' icehtz-adviince,,.'while:good .'scoured..ia'ro' ■/slightly : in"s.e!lers'Vfa;your..'Paulties, 'e'speci-: ally:;.'shbrt; fellmongered.'arc'from' par to .5 per.' cent.' lower. 1 . Orossbreds, fine medium greasy;,are .par,to 6;per;cent. lower,' while' lower; grades are ,from par-to 5 per cent, higher, and sconreds, generally, unchanged; .Fine .medium-are'.'occasionally in: sellers' favour, fine -medium' 1 slipes havo -declined a halfpenny, and: coarse borts.v are. iin'elidnged.;. :':liambs' •■■wool, .mdrind,; is' un,'changed,. and.,crdssbreds, 5-to 7J-per cent, lower;;". -'V- "i""V."-ir-!-V.;- '■' ,■'•;.'■.'' '','/■-', '"."■.':.',';. '-,;,,-,; ■■;■■■■-■ OTHEB.'ADVICES. ','';' 'X '. 'Messrs. Dalgety.and Company, Limited, report .'having received the following cable;, adriccs; from their London house/under date 1 October. Sales continue .'firm as compared With lasfc closing rafes.; .Good 'greasy'merino combing 5-per cent, higher; :good: .scoured' merino, combing' par. to 5 .per- .cent.' higher; .merino wdbl of other descriptions.- unchanged; .'crossbred, flue ,'.wool'.unchanged; crossbred wools,.."medium quality, .unchanged;..; crossbred., wools, ' coarse,';,:par , to 6, per e'enti' higher.'.; >The : total net Quantity available amounted to 125,000 . bales', and .the total, sale 'for Home consumption, 69,000 bales; sold to the Continent, 42,000 bales; 14,000 bales'were carried forward. • Tho increased total - available is 'due to dealers'' and second-hand lots..- .'•■,';'•!. : " ■■' : " '."'''■"■..- 1 Jlessrs.' Abraham and- .TViiliams.' Ltd.,' have received cabled.advice from London -lindcr date October. 8 .as- follows:—''The sales 'havo closed with a steady market for all wool. Closing rates as.compared >vith last series are . as follows:—Fino ; crossbred from par to 5 per cent, down, medium', crossbred, unchanged, coarse crossbred and merino'from par to 5 per cent, advance."-' •' ... : ' : '" . The New Zealand Loan ; and Mercantile Agency Company,' Ltd., have received tho following London, cablegram:—"Tho sales closed with good competition. ..During the series 111,000 bales wore, sold, of which 42,000 were taken for tho Continent, and 14,000 held over.. As compared with last safes' closing rates, prices. are higher about 5 per cent, for greasy, merino, and about par to 5 per' cent, higher for scoured crossbred and merino.'.' -, ; ! ■' Messrs. Murray, Roberts, and Co., Ltd., Jrnjfo received the folhnTine; cable message.

from their London friends, Messrs. Sanderson, Murray, and' Co., under date October, B:—"The sales have closed weak and' irregular except for good combing merino: Compared with tho. closing rates of. last London sales, the market shows no material. , change, . except for combing merino scoured, good to extra good, which shows par to 5 per cent.'advance, and half bred greasy, which has declined- 5 per cent.; 15,000 bales are held over." ■ ,

• The Commerces and Tourists Division of the Department of Agriculture, Commerce, 'and, Tourists lias received'the.-.following cablegram from' tlio . High'..Commissioner for New Zealand, da-ted London, October 8, regarding the closing'of the. fifth series of the cblonial wool sales. Wool. sales closing to-day. The, market is .rather unsettled,. and prices somewhat irregular., Tho advance has been'partially lost. Estimated' value about the, same as' closing rates of last sales, viz!:—. v.., '•. . '■■ ■' ' . : s.d.- ■■' B.d; Superior merino .„....../..;.:....'!. -1 1 .&> 13J ■Medium ; merino ..;.:..:.„ 0 10J to.l .05 Inferior merin0 1 ...... ■....:;...... 0 7j to 0 10 Pine crossbreds, all grades ..; 1 lj to 1 .4 hfedium crossbreds, ail grades 0 11 to 1 1 Coarse.crossbreds, all .grades 0. 85.t0 0 105 ■ .. ' .-' NO' SLUMP:FELT. , ' ■; ■~';;"■ . THE-ENGLISH WOOL SALES. ~. (By Telegraph.—Press Association.) ', •■-.' Dunedin, October 10. Mr.'T. 0: Price, of-.J. W., Swift/'and Oo.v who.has just arrived from tho Bradford' and Continental wool markets, says that the English'sales did not feel the slump a 6 was expected,, as a result of, the absence of American competitors. The position was saved-by.the solid English arid. Continental demand from, spinners- '. The:prospects are that 'this demand' will: continue, but Now Zealand growers must not. expect -the inflated, values which obtained 'at, last/season's sales. in ,the Dominion, since, ,by ; ailappearances, , the demand, will be regulated by.', trade .reciiurcmpnts, .and the risk of speculation!. '~' :• • '■•■■;) v■■ '• : N :