GOOD BUSH COUNTRY.

Dominion, Volume 4, Issue 1025, 14 January 1911, Page 8

GOOD BUSH COUNTRY.

In our auction columns will be found an advertisement relating to a property of 130G acres of good bush country in the Taihapo district, being an education reserve, held under lease from the School Commissioners. The property is described as being covered with heavy bush, totara, nmu, and raatai predominating. This fine block of country is one of tho few blocks of good standing bush now left within easy distance of Wellington. The present sale, which is to clissolvo partnership, will bo'held by A. L. AVilson 'and Co., Brandon Street, at their rooms, oil Tuesday, January 24, at 2.30 p.m. COMMERCIAL ITEMS. IHYESTMENT "SHAItES^ A sale of Bank of New Zealand shares at £10 14s. was the only transaction recorded yesterday. The quotations were aa under" Buyers Bellers. £ s. d. £ n. d. National Bank 5 13 0 5 15 0 Bank N.Z - 10 14 6 Wellington Investment .... 0 11 0 — : Christehurch Ga,i 9 13 6 — Wellington Gas (£10) 19 2 6 • — Wellington Gas (£6 155.) . 1315 0 — National Insurance 114 3 — South British 3 5 0 — Gear Meat (£1)- 3 16 - Meat Export (525. 6d.) — 3 4 0 N.Z. Shipping - 11 11 0 TTnion Steam — IIV 3 Weil. Woollen (ord.) 315 0 — Taupiri Coal 10/6 — Wcstporfc, Coal — 7 0 0 D.I.C.' Preference — 13 6 ! Lcylcnd-O'Briou * 17 0 — . 1 N.SS. Con. Dental 12 6 — Taranaki — 012 0 Taringamutu Totara 2 4 6 — BA2\ T K CLEARINGS. Tharo is a' natural rivalry between Melbourne and. 6ydnoy and tho'financial and tra.de statistics' of the two .cities are made the most use of by tho respective newspaper.". Tho bank clearings for 1910 nhow that Sydney vrcs in tho lead for the third year in succession, Sydney's eiccra Jaat. year being nearly thirteen millions et-er-llug. The clcarings ol ths two phess during the past live years ehow to under:— Melbourne. Rydncy. Tear. £ £ 19D6 220.C42.C56. 220,660.512 1907 236,593.760 £34,169,822 1508 221,353,675 227,735,243 1909 239,663,607 240,645,737 1910 261,384/35 274,343, C£6 Sydney made the greatest progress last year, asd the expansion in the figures for tho past-two years illustrato? the remarkable prosperity ■ thr.t Australia, has experienced. ■ WELLINGTON TRUST AND LOAN. Tho annual'.report of tho Wellington Trust, Loan and Investment Company, Ltd., for-1910 was circulated yesterday, and contains tho following:—"The sum to the "crtdit of profit nnd loss, £11,569 7s. 9d., together with £1465 2s. lid. brought forward from tho previous year, amounts to £12,£55 ICG.' Bd., from which £4050 has already been paid r?'an interim dividend. Tho directors recommend that £30(0 be added to tho reserve fund, making it £49.000, and that a further dividend of £4-050 should be paid, making 8 per' cent, for the year, and that £1735 10s. Bd. bo carrjcd forward. Tho vacancy in tho appointment of mananin? director has been filled by anpointin«r tho chairman (Mr. J. P. Maxwell). Thn retiring directors by rotation are the Hon. Sir James Kt., and Mr. John Alfred Plimmer, who. beinc eligible. offer themwlvo? for re-olortion. Thft auditors, Mep.«rs. C. P. Pnwles and FmMt W. Hunt, offer themselves fos reelection,

THE COTTON SITUATION. Tha consumption of raw cotton, it is admitted, has overtaken .the supply, oivinp to a very largo increase.in rccent years- in tho number of spindles employed in-'tho ' industry, and also to a simultaneous shortage in tha American and Egyptian cotton crops. Effypt will harvest a full crop this (season; in tho United States, however, tlio production of tho staple is not expectcd ti cxcced 11,600,C00 bales, or very far below tho Quantity required to prevent cmbnr.ifcmciH in tho cotton-spinning industry. Tho poßition is regarded as very unsatisfactory by Messrs. Ncill Brothers, the recognisod authority on . such-a subjcct, and short timo in tho mills eccms inevitable later on in tho season, resulting in loss of trade to tho employers and loss of wages to the operatives. Furthermore, the ecarcity of cotton will expose that commodity to . manipulation by speculators, and with an advanco in tho. cost of .the raw material there is an inevitable dccreaso in the demand for tho manufactured goods, par* ticularly in the East, to which a very largo proportion of the Lancashire exports are dispatched. The balance, of course, is thus adjusted, but only at tho oxpense of the spinners and manufacturers and thoir employees. It is for tliis reason that tho encourasomont of. cotton-growing in India and other countrie? is being' so strongly urged, so that this branch of the textile industry may not bo cubjectcd to restrictions caused by deficient supplies of th« raw material. Tho total cotton crop of tho world now.averages about 20,000,5C0 bales, and England owns moro than one"third of tho-spindles in oxistcnce, but, owing to tho fmcnces of her products, con-' sumcs only about' one-fifth of tho total crop. On account of its poor quality, comparatively little Indian cotton goes t-o the United Kingdom, Japan and Germany taking tlio bulk of what is not consumed locally, although India actually produces nearly one-ftfth of the total supply. An increase in tho output from that aourco would, however, be none the less welcomo, sinco it would, by satisfying other demends, &ct free a ceTtain amouut of American- cotton, particularly if tho Quality wero improved by moro carcful cultivation. Customs revenue collected at the port of Wellington yesterday amounted to £saol Cs. Id. •. WELLINGTON MARKETS. i Messrs. Laery and Co., Ltd., Wellincton, report wholesale pricco ruling on tue market:—Wheat, fowl, 4s. to. 2d.; feed oats, 2s. Bd. to 2s. lid.; Dun oats, 2s. 9d to 35.; eccd oats, 2s. lOd. to 35.; Algerian oats, 3s • ryo corn, 3s. lOd. bushel; maize, 3s 3d. to 3s. sd.j crushed malt, 7c.; fowl harlev. -2s. 9d.; Cape barley seed, 35.; flour, New Zealand, £9 ss. to £9 155.; peas, split £18. partridge peas ,ss. 3d. per buGlicl; bonedust, £5 155.; superphosphates. £5 to £5 55.: basic slag, £4 10s.; pollard, £6 %: to £7.; bran, £5 10s. to £5 I s.; oienieal, £5 per ton; pearl barley, 155.; chaff (oatensheaf), £5 to £5 «s.; potatoes, American, £13; new potatoes, 55.-to 6s. 6d. per cwt.: onions, Victorian. tcs to £6 nor ton; molasses fodder. ±o lis.; bUSn factory), sides 7Jd hams 9d„ wll. Bid.; butter, prime bulk 9d. to 9ia. Po"jtrv hens 3s. 6d.: ducks, 3s. 6d. to 4s. 6d. per' pair; turkeys, gobblers 18s. to 205., hens, 10s. to 145.; fresh eggs, Is. Ijl. pei Hn7PQ* chceso, 52d. lb.; Akaroa machinedressed cocksfoot, Bid. to 9d. per lb. ; far- : mers' dressed cocksfoot, 7d. per lb.; rye- ' Trass. 4s. 9d. per bushel; Italian ryegrass. <fc. 9d. per bushel; white clover, luss. per cwt. ' - Tho New-Zealand farmers' Cooperative Dfbtrlb'uting Uoinpany, Lid., report as loll'owsPotatoes Have Deqn cowuig to hand iu (lUdiitititfa. and pricos arc slib'hv Iv weaker than when wo.l-st tiic quality Is still gcod. Australian ouiona aro now iu' excellent condition, aim slightly lower than last" week. Apricots have been coming ia irccly, and for anything but cVoieo "lines values liave'tecn low. reaches aro in mucu netUT demand, and values 'hayo risen considerably. Kaspberries aro ireely mnuired for, and rnuuii larger supplies are lil-oded. TOmaioes aro declining fapidly in* values, as indicatea in our last report, and it is evident that a, considerable-supply will shortly be on this market, liggs are weaker, ->ith a mucli larger supply coming to hand. Pollard is in short supply and exceedingly high in price; in fact, Australian importatiuus vre eofely relied upon, local mills not yet having reopened 6inco tho holidays. llxcellent samples of new chair arc coming to liaiui, and wo expect the quality this season to Uo uniformly gooa. uuo-tatlons:-Potatoes, prime,,xff to xo per ton; oiuocc,' Australian, Uioocs, Atj its. per ton; cr»bbage, Jis. to As. per sack; green peas, liutt, fcd. per neck; Prench beans, Id. per lb.; carrots, liutt, 6d. doz.; turnips, while, 4d. to ou. doz.; lettuce, choicc, 2s. per case; spring oiiiuus, 4d. to 6d. doz. bundles; rnubarb, is. to Is. 6d. doz!; gooseberries, desEert, rough skin, Is. to <?s. per half-case;-strawberries. Is. 3d. to Is, fcd. per lb.; passion fruit, 7s. to Eg. 6d. per naif-case; cherries, 9s. to IDs. 6d. halfcase; cucumbers, Is. to Is. fid. per dozen; apricot 6, Z>3. to 4s. per half-case; pcaches, 3s. to 6s. fid. hall-case; plums. Ogans 25., liurbauks 2s. fid. to 35., prunes -Is. halfcacjo; apples, dessert 3s. to 3s. 6d. per liaifca«c, cooking Is. fid. to 2s. 6d. per halfcaso; bhek currants, 7s. 6d. half-case; tomatoes, liutt 4s. 6d. to ss. 6d., Nelson 3s. fid. to per half-case; raspberries, iu buckets, su. 6d. to 6s. each; gmpes, Is. 3d. to Is. fid. per lb.; butter, soparator Bid. bulk, 9d. to 9Jd. pats, dairy Bd. to 9d. per lb.; ohecie. host factory mediums 6d. per lb., loaf 7d. per lb.; dre£ecd pork, 70'6 to 90's 4d. to 41d., 9D's to 100' a 33d., baeouers oid., choppers (heavy) 2d. to 2£d.; eggs, fresh, Is. Id. per dozen; bacon, factory sides 7d., rolls 9d., liarne 93d. per. lb.; •honey. 3£d. per lb. (slow of sale); beeswax, ls> fid. per lb.; fungus, 4*d, to sd. per lb.j walnuts, 6d. per lb.; tallow, tins 283. cwt. Poultry: Cockerels, k. fid. for good birds; small. 35.; table roosters. 55.; table hens, 3s. 6d, to 45.; ducks, <6. fid, to 6s. 6rl. per pair: turkey gobblers, Is. per lb.; hens, lOd. per lb. (live weight); maize, 3s. 6d. to 3s. 9d. per bushel; wheat. 4s. per bushel; barley, feed 3e. per bushel, Capo

3s. 6d. per bushel; dun- peas, <3. 6d. per bushel; barley meal, £6 per ton; pollard, £7 ss. per ton; oat pollard, 2s. 6d. sack of about 9Clb.; bran, £5.155. per ton; molasses fodder, £5 per ton; craff, oatensheaf £5 55., second quality £4 to . £4 10g. per ton; hay, prime, £3 to £4 per ton; su9rosine, £6 lCs. per.ton; straw, wheaten, £2 7s. 6d. per ton; linseed oil cake, genuine, £13 per ton; coconut oil cake. Eg. per cwt.; oats, feed 2s. 10d.. A grado 3s. per bushel, .seed, Sparrowbills, Cartons, Dunn, Storm King, Black Tartars 3?., Algerians 3s. 3d. per bushel, crushed 3s. per bushel. BANK OF ENGLAND RETURN. By Telegraph—Pres.* Association—Copyrlzh*. (Rec. Jan. 13, 5.55 p.m.) London, January 12 v , Tho Bank of Eneland return issued for the week ended Wednesday, January 11, is as under:— Issue Department Kote Igsuo... £50,4G1.0C0. Gov.dobt ... £11,015,003 Otbov securities ... 7.434,000 Gold «. 3i.015.000 £50,461,000 ££0.46-I.ICO Eaxeikg Department. Proprietors' Govt, sccuricapital £14,553,000 tics £15,400,030 Public de- Other securi-^ posits ... 8.7G6.C0J tics 25,167,000 Other ueposits ... 40.340.000 Kotos 22.5G6.C00 Reel, 7-day and other Coin .. 866.C00 tolls 3,378,000 £07.037.0 M £57,039X00 The leading items of the Bank of England return afford the following comparison:— ' ' Thiswook. Dasfcweok. Last year £ £ £ Bullion 32.015.000 31,018,000 33.5-iI.OCO Reserve 127i.452.0C0 :U,b v 70.100 24.924.UX) Note circulation 3?.b9S,(ttJ C8,521,1XJ0 25.-277.CC0 Public Deposits B.7Gw.UJJ 1-J,S4(>,IWJ G.COJ.COO Other Deposits 40.3-.iQ.IAX/ 49.203.WJ 45,191.000 Proportion of rcservo to liabilities ... 47.63 35.10 *7.54 GOVERNMENT SECURITIES, The following ars tho latest quotations for Government u-carilios. with a comparison of tboso ruling last w*ok:— Variations — compaod Fries* with , ; last, vrook. • £ C. d. 2J% Imperial Consols 79 12 6 25.6 d. higher 4 „>i.S.\V.l9:J3Jaii.-.Tiily 10I» 0 0 Unchangou j Si „5.5.W.1918 .:ar.-Sop. 09 0 ( lUs. higher 3 ..N.jj.'W.i&j Apl.-Occ. 87 0 0 Unchanged ! 4 „ Vic. IDiXJJim.-July lOi 0 0 Uhchangod I 3J „ Vic. lyji-ti Jan.-July 07 0 0 Unchanged ! 3 „ Vic.lfc9-49Jan.-July Hi 10 0 Unchanged j 3j „JS,A. lS>M«fau.-tluly 9)10 0 Unchanged ! 3 „S.A. DIGJau.-July tl 30 0 Unchanged 4 „Q'rdl9ls-2),!an.-July 102 10" 0 lOs.hi her 32 ~ UTulUii-dOJan.-July 2fl JO 0 Uaeimnfiod 3 S3 10 0 Unchauced ■i „N.Z. ID2O M'ay-Xov, • 101 0 0 Ui:chanccd 3J „K.Z. 19i0'Jan.-July 9j 12 (i ss. iowor i> „N.Z. 194.'. April-Ocfc. 85 ;0 0 Unchanged &$,, "\V.A.I9iO-40Alay-Xov 17 0 0 Unchanged 3 „ VV.A.i'jJi-oo.May-Xov 83 10 '{) Uncbaugod 33 „ Ttts. iMUJan.-Juiy 07.10 0 . Unchanged 'i „ Tus. itfl'-M'J Jan.-July 80 0 0 Unchanged BANK BATES OF DISCOUNT. Tho Bank of England rate was reduced on June 9 from 4 to 3 per cent; on September 29' it was advanced to 4 per cent., and on October 20 to 5 per ccnt. On December 1 it was lowered to 4J per cent., at which rate it still 6tands. The Bank of France rate «aa from 3J to 3 per ccnt. on January 23 1900, and remains at tho lattor fictire. Tho Jmpcriai Bank of Germany un Janu ary 21,19J9, lowered its rate from 5 to 4J per cent., and on February 10 to 4 ner cent. But on September 26 it was raised to 6 per cent., at which rate it remains.

MARKET RATES OF DISCOUNT. The followiuir are t.lio. market rates for bust three months' bills:— London Paris Berlin rate. rate. rate, percent, percent, percent. This week 32 23 3$ Last week 3i 1i 3$ La6t. year 3 3-16 21 Short loans; aro quoted at 3$ per cent., as against % per cent. la'Bt week, and 2* per cent, last year. COLONIAL AND OTHER PRODTjOE. "Wheat—The market is steady. Two Australian .cargoes and 12,000 Quarters South Australian sold at 300. 3d. Holders aro asking 365. 6d. for Victorian October shipment and 355. 3d. for parcels DecemberJanuary shipment. There is-a. small busi-

necs passing in Australian on spoti at about 375. Flour ig slow of sale, and-prices a.re unchanged. Oats aro firmer. La Plata, FebruaryMarch shipment, 12s. 7*d. Butter is Arm, and colonial is cleaTins well. It is understood that somo speculators purchased heavily in new of prices hardening. .Choicest Australian salted, lMs. to lC6s., unsaltcd 1065.. occasionally 1C&3.; secondaries, 965. to 100s.: choicest aew Zealand 110s., secondary 104s. to ICfis.; choicest Argentine. lC4s. to 1065.; Danish, 114s. to 116s. Ohcore is firm and unchanged.. Sugar.—German beet, 88 per cent, net r u' !? cr cwt,; fir st-niark granulated, f.o.b. Hamburg, unchanged, at llr-. Bradford Tons.—Tho market is weak. Sixty-fours, fd. lower, at per lb • super sixties, unchanged, at 25? d.; common sixties, 3d. lower, at fifty-sixer,, 3d. lower, at 2td. ; fifties, Id. lower, at 18Jd.t forty-sixes, ?d. lower, at 14Jd.; forties, R lower, at 13d. TEE METAL MARKETS. Copper.—On root, £55 Bs.' 9d. per ton; three months', £C 6 6s. 3d. Tin.-On snot. 10s. higher. at £181 ICe. per ton; three months', £162 ICs. Piir-iron.—l\r,r!dlr;pbro', No. 3, is 3d. lower, at, 493. j}or ton. Load.—unchanged, at £13 3s. 9rl. per ton. ouvcr.—Bar silver is quoted at- 25 3-lGd. per ounce standard. ANTWERP WOOL SALES. By Telegraph Press Association—Copyright (Etc. January 13, 8.55 p.m.* . London, January 13. The Antwerp wool sales closed with a tendency of merinos. receding a further -: P per . cca "V ,' ) ?' cs Plaja, wool were olferc-u, and S'.7 bales were- sold. BABBIT SICIXS. ffiee. January 13, 8.55 p.m.) ~ London, .January. 13. i -,rr ? , t an Ka "''-'- s closed unchanged, and oICO bales were sold. ( GEAIN MAKKET. (By Tclocraph.—l»res3 .Association'.! „. , , , Christolniroh, January 13. with tho harvest in progress there is a fairly large amount of bid wheat offering as nolderb- are now desiring to get rid of their stueii before the new grain is plac-ad ox* tnc market. In view of tho ty of the prospects of tho crop through tho prolonged dry weather; holders of last eeoson's wheat were not desirous of celling, but now that a good crop has been assured—cxccpt, _ of course, so far as tho risks of nurvestmg arc conccrncd—thcre is no object in holding any longer. Tho dojnand for wheat is, hov/ever, very limited, S6 in view of tho plentiful supply of old wheat and t/ic jironiising new crop millers are not being too busy, thoucrh the unsettled weather during tho week has caused them to take up a few suitablo lines that wore offering. A sample of now Tuscan wheat of prime quality and condition has been submitted, and tho grower ai:ked 3s. per bushel. It is reported that tho line changed hands, but the pricc paid has not transpired. In view of the low tone of the London market the prospccts of chipping wheat, are not encouraging though for forward delivery have There is not yet much business doing in new oats,; as they are mostly going into staCit.- A lino of very good Duns is reported to have changed hands at Ig. Ltd. at a country station. A number of line 3 of barley are now on the. market, but maltsrters q,to not very keen to t purchase at present, and only very prime samples are meeting with attention. Soycral line 3 of very prime barley havo changed hands during the week s s. 6d., but escond quality is somewhat difncult to sell. New Italian ryegrass, is now coming on

the market, and during tho week a line of 2000 bushels has been sold at 3s. lOd. at a country station.