COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 991, 5 December 1910, Page 10

COMMERCIAL ITEMS.

1 investment shares. There wero a fair number of Iraneac- & . tions recorded on Saturday, the sales re- * ported being Bank of New Zealand ill) - 125., Equitable Building £9 12s. 6d., Christchurch Gas £9 155., Taupiri Coal £1 us. p 4id., TVestport Coal £6 18s. fid. Tho quo- * tations were as under-.— B Buyers. StlUrs. Rales £s. d. £s. d.. £s. d & Bank N.Z 10 11 0 . - 1012 0 ti s National Bank _ • 517 6 0 Equitable Building 912 6 — 912 6 tc r. N.Z. Loan and Mer- 1 cantilo 010 0 -7 5 Well. Investment .. — 011 6 — , Wc-llinston Trustand b 1 Loan - 715 0 - B Well. Deposit — 0 8 3 • Christchurch' Gas ~ 915 0 — .915 0 Peilding Gas — 12 0 41 i Napior Gaa 12 5 0 »- . Well. Gas f£10) .... 19 0 0 — - . a Well. - Gas (£6 155.) 13 10 0 - - Standard Insurance 1 6 3 1 6 3 — Union Steam 117 0 — — Well. Woollen (ord.) 3 13 0 - . — Well. Woollen (pref.) 215 6 ~ — r Taupiri Coal 1 0 0 1 0 6 1 04i , Westport Coal 618 0 619 0 618 6 ' Wesfcport-Stockton —. 07 3 — a Lsyland-O'iirien. ... 163. , — — a Manning and Co. .. 4 4 0 — — 1, N.Z. Con. Dental ..126 - - n „ N.Z. Paper Hills ..1 3 0 13 9 - J J Taranaki Petroleum 089093 — >. Taringamutu Totara 2 3 o'— •— o 0 Ward and Co 5 4 0 — — s i Whitcombe & Tombs — 6 7 0 — 1- fJ s LONDON MONEY. MARKET. J The rotation of the Bank of England h t rate from 5 to 4J per ccnt. is an indica- 61 0 tion that in the New Year money will be 6: , - in plentiful supply and cheap. Comparing i< the leading items of the ■ Bank of Eng- T v land return with thoso of last srear,5 r ear, tho 0 1 position is not bo good, and yet last year o the bank rate was maintained at 5 per cent.' Tlierc must be special circumstance h e of which we can form no it.ca to war- 7, rant this reduction; it. is apparent, how: 8j ever, that an optimistic feeling prevnim 8, for most Government securities are higher p arid Imperial Consols aro 17e. 6d. higher ]< on the week. This is a tolerably big jump tfor this stock, and the market generally 9 appears to be imbued with the idea that f. the Conservatives will win election, n Tho cheapening'of money will give a fur- t ther stimulus to trade and commcrce, 4 which even now f wouid bo extremely active but for tlio almost continuous labour agitation. If, as is anticipated, there is renewed industrial- activity, de-mand-for-capital-will expand, and moneq tary rates will remain fairly high. Bank rate will bo gradually reduced until a 3 per ccnt. level ia reached,, and this will r 9 bo maintained for some considerable time. c HOARDING'IN INDIA. c - The tendency of tho Indian raiyal to ' hoard money.' instead of putting it to 0 ! « r.dmo- useful purpose seems at least in a il fair |way to be modified. All Indian ccr- | respondent .of the ."Economist" reports u * .-a. very big : economic-revolution i 6 > quietly in progress in India, due to 'the u establishment of credit banks. It is stat- T I; ed these, institutions havo caught on i ■ wonderfully, and arc now to be found in i ; J most out-of-the-way villages. They wnvk ; on the principle of unlimited liability, ; ; and grant loans only to shareholders for ( \ puvponcc approved by shareholders. Tliey J i»' lend at 9 per cent., and aro already rej; ducing the rates of the moneylender from £ } j 12 to 18 and'even 24 per cent. According i to the figures of ono bank the villagers j. ;. in eighteen months- have converted , r' Bs. 5623 of outpidc debt, .bearinc interest > *•- at 21 per cent., to a debt to the bank bear- i ing interest at 9 per cent. Soon, the , moneylender as a feature in ordinary J commercial borrowing in India will be nn j extinct as lie is in other countries, and J that will force him to' put his money into J ( trade. ■' ♦ ] ■ _ ] EXPORTS' OF CIIEESE AND BTJTTEE. TSE ARAWA'S CARGQ. f n L&aving Wellington for London onThursA day last, the Shaw, Savill and Albion Com-' ), panv's steamer Arawa took an exceptional<r- ly large cargo of butter and cheese from 3 Dominion- ports, a summary of which is 5 , as follows:— t- Butter. Cheese, j >11 , Boxes. Craton. r- From Auckland 22,29? 634 ii From New. Plymouth 14.2U I.BSB 2 From Patea 5,756 4.347 3 : From Welliuston 15.135 4,729 31 From Lytteiton 2,431 98- 1 Is From Dunedin 1,175 687 [Jj From Bluff: — — 4.716 11 Total 61,014 i 17,983 -y Equal to, in tons 1.525 1,237 i e- The Corinthic, which sailed from Welts lincton for London on November 3, took 47,580 boxes of butter and 19,169 crates of . \ clieose,' whilo the Ruahine, sailing a. fort1S night later, carried 55,810 boxes of butter Id and 14,022 crates of cheese. Thus :it will > bo seen that the Arawa's butter cargo is the largest. that hao left the Dominion Ihis season, whilo her cargo of chce?c is *5 the second largest shipment that has been is sent forward. r THE BT7TTER MARKET. in The slight improvement recorded in butro ter a few days ago is being well mainc tained, and occasionally the choicest 01 grades of Australian and New Zealand or butters make a shilling more. The out,r- look is not very promising for any r, r strong advance, as supplies aro "expanding. The total imports into the "United in Kingdom for the nine months ended Sepid tember 30, compared with tho correspondc. ing period of last year, are as under:— Id " ' 1909. 1910. in From cwt. cwt. er Victoria ' 81,397 171,91? ti l New South Wales 99,474 • 168,064 x Queensland 55,849 93,609. n"w Sand 220,857 275,589 n . ' 457,577 709,377 31 1 nrnrn"'-'' 1.385,092 1,303,985 ed SSf 517,397 . 496,551 he Sweden . 255,209 : s " Motherlands 124',292 130,344 . lr " Prance ° -•••• 3C3 . 334 282 ' 153 Ot 5K3 States .., - 'OJ ,651 ifF r?Triindn. i 183,384 15,501 on Other countries W.Z39 94,044 is ... • ' 3,158,682 3,290,853 CUSTOMS. Customs Tevenuo collected at tho POft of Wellington on Saturday amounted to £1C47 4s. 3d., the collection for the week being £19,249 Bs. Compared with tho corresponding ' dates of last year, tho receipts for the past eight weeks show as » under;_ 1910. 1909. Octobcr 15 - 10.C21 WJJ October 22 - Jo'iJc October ,29 9,647 1^,345 "S November 5 22,534 r'tll , November 12 0,581 6,25» Uu November 19 17,570 15,058 . November 26 13,995 10,021 :h« December 3 19,249 15,270 8n- . £121.689 £98,769 fill Tho boer duty for tho past- 'week totalled £388 ?6.. as against £300 10s. for tho corlly responding week of last year. In 1900 tho United States railroado cmployed 1,017,653 men. and their at'grcEato pay was £117,762,027, or £115 14s. per ernlOH ployeo on the averaco. In 1909 tlio numbers had increased to 1,502.323, and tho acln* erczate to pay to £201,618,034,- or £132 16s. par head, and it is stated that, with thin lis- year's Increments, tho average pay vail b" over £142. Thus in ten yoars wanes ing 'per employee will have increased 23 per ceat.' m Says tho current issue of the "Bankers' low Magazine" {London} :-"There is little question that tho profits now bcim; declared by ave the Australian banks aro tho best they have ever shown on the capital they .now ton possess, and thero is do sign at present that the high rate of profit will show any to reduction." fj-na Last year 19,010 life policies wero taken out in Victoria, for sums aggregntint jef £3,130,730, while 48.976 industrial policies * were issued for £1,209,775. Tho r;vnpai*i- - slj. son of tho status of tho two' branches of tho business of life assurance is of inter9SL

"-i." lUt:* ! -U: 1 « : u.i_n. vj'ii \' :KJ^ LONDON 3I.VEKETS. By Telegrapli—Press Association—Copyright. (Itcc. December's,' 5.15 p.m.) London, December 3. Hemp.—The market is'quiet. Januaryllarcli shipment is quoted at £22 s=. per ■ Lou, c.i.f. Kauri Gum—Tlio stock amounts to 336 • tons. ' i Copra, is quiet. South Kca in haps, No-rerabcr-Dooember shipment, .4323 ss. per.ton. Cotton—The Liverpool quotation for midrtlinff, uplaiid American cotton, Decern- . ber-.Tanuar? shipment, is Y.YSId. per lb. Hides are neglected and withdrawn at nominal prices. Leather.—A ■ trifling business passing. Wellington first dressing 173 d., basils a ' penny dearer; first Wellingtons 2Ud. i . Rubber— Pino hard Para rubber is quoted at 6s. 2d. per lb. NEW ZEALAND LOAN SCRIP. By Telegraph—Press Association—Copyright. (Ecc. December 4, 5.15 p.m.) f London, December 3. New Zealand scrip it, at ss. premium. WHEAT. f( By Telegraph—Press Association—Copyright. London, December 3. An Australian cargo sold at 355. 9d. per quarter. TIN. By Tclerraph—Press Association—CopyrleM. London, December 3. On spot, £172 ss. per ton. . LONDON WOOL SALES. By Telecraph—Press Association—Copyright. London, December 2. At the wool sales there was good competition, and prices were well maintained. Tho sales included the Waipatu clip, the top price realised being 13Jd. per lb., and the average 103 d. METALS. By Telegraph—Press Association—Copyright. London, December 2. Copper-Supplies. 40,919 tons: deliveries, 43,091; stocks, 86,250; afloat. 8250. Tin—Stocks. 20,476: on tho spot, 7580; afloat, 5893; deliveries, 2458. HIDE AND SKIN SALES. Messrs. Dalgety and Company, Limited, report having held their usual fortnight-' ly sale of wool, skins, hides, and tallow on Friday." There was the usual attendance of buyers, and good competition for all lines offered. Wool—Wo offered a large catalogue of oddments. Prices wero firm at late rates. We quote:—Crossbred, medium, 71d. to 9d.; bellies and nieccq, 4d. to 63d.; dead, 7Jd. to Cd.; erutchings, sd. Sheepskins—Prices for all fine-woolled skins were on a par with last sale, rates, but all coarso sorts showed a decline of from 3d. to *d. Grecti skins wero easier. We quote :-Halfbred, aid.; crossbred, good, 6d. to 73d.: crossbred, inferior, 33d. to 5U1.;. lioggots, 6d. to 7id.; hoggets, dead, 45d. to 6d.; pelts, 2Jd. to 4t1.; crossbrcd, damp, 6s. 6d. to 7s. 2d.; pelts, salted. Is. 6d. to Is. lid.; lambs, damp. Is. Bd. HidesThere was keen competition for all lines offered. Good hides showed an advance of from id. to Jd. Calfskins, however, were slightly :easier. We qnote:-Oi, heavy, 62(1. to 7Jd.; ox, medium, 5Jd. to 7fd.; cow, medium, 53d. to 6gd.; calf, good, Bl'd. to 9d.; calf, inferior. 2d. to 7d.: horse, Bs. to 9s. 3d.; bull', 4d. to 5Jd. TallowPrices, in sympathy .with the London market, showed ■ a decline of about 20s. per ton. We 'quote :—ln shippinu order. 28s. 9d. to 295.: in tins, 233. Ed. to 275. 6d.: rough fat, 225. 6d. Horsehair. Is. to Is. 6d. per lb. Cowhair, 9&d. per lb. Eabbitskins, 7Jd. to 10ld. Horns, 9s. per 100. Cowtails, Is. 4d. per dozen.