COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1056, 20 February 1911, Page 8

COMMERCIAL ITEMS.

..J ' INVESTMENT SHAKES. On Saturday there wero three transactions in Chriotchurch Gas. at. £9 173. 6d. The buyirj: and selling -quotationa wero as under:— Buyers. . Bollera - „ * £ 6. d. £ s. d National Bank : „....' 6 0 6- .6 3 0 Eouitable Building 9 15 0 — Bank of New Zealand... 10 19 0 — Motropolits-n 12 0 0 — Well. Investment Oil 0 , Oil 6 AVoll. Deposit' — 0 8 0 Chri6tchurch Gas 9 17 0 9 18 0 Fcildinc Gas 116 12 0 Well. Gas (£6 153.) 15 12 6 - Notional Insurance 114 6 — N.Z. Inouranco 4 3 6 4 5 0 Gear Meat (£1) 3 3 0 . . Moat Export - (£4) -■ "■ 5 5 0 Union Steam 117 3 117-, 9 Well. Woollen (ord.). — 4 .0.0 Well. Woollen. (prof.)' 2 15 6 - ■ — 1 • Taupiri Coal . 1 1 0 . — westport Coal — . 1.9 0 Miiamar, Ltd. — .0-26 N.Z. Paper Mills'.! • — 1 4.0 Taranakl Petroloum.: :0 12 0 . 0 13 3 Tarinirainntu Totara. ...... 2 6 0 2 8 0 Ward .and Co. ..i.;......;...- 4 19 0 . — ' ; BANKERS' CLEARINGS., * . .Thp Clearing - House ..systom is, liichlv devolopcd'in Great Britain, and tho hankers cloarancos aro a fair indication ot tlio stato of trade. According to the annual ctatemeut. of tlie secretary iof tho Lon'dbn Clearing Bankers, the amount of nma., cheques, etc., paid at tho Bankers' Cloatinc Jlouso .during 1510, totalled £14,658,663,000, as against £13.525,446,000 in 1909, an increaso of £1,153,417,000. This turnover, onco- moro emphasises -tho • expansion .'or banking facilities and the unlimited power of tho banking community- to deal with -tho cvor-advanrine .requirements of tho commerco of tho country. Tho iucroasc of £1,133,417.000.(7.7 per cent.) over the year 1939 is larco, but not so.larco (16 in tho year ISCS. when tho increaso over'l9o4 was £1,723,736,000 (16.3 per cent.); i», 1959 tho iricreaso over 1908 was. £1,<05.jin? , P er cent.). It bccomcs moro illulcult each year to estimate how. much of tho incrcaso is duo to improved trade, and how much to what, is understood Rs .finance." ." Tho hutro transactions which toko- placo in ' all departments connected Willi financo tend to obscure tho' trado figures! moro'particularly i 3 this tho,caso in tho town clearing., through which tho bulk of the money employed in the short loan market passes and -rcpassce.. ADVANCE IN. CUTLERY. > According to tho "Ironmonger" of januSJZ, t IS - hi , ?h , ly nrobablo that tho §,™, a . cturc , r3 of A' 10 hotter Qualities of Shfffleld cutlery will advanco their prices 2 J u ? r col ' t " ' u ' order to recoup themselves for tho increased coat of produc--1 causp " by tho dearnoss of natural halting material and tho texnento incurred m carrying out tho. recent- Homo Office regulations for grinding shops. Tho changes rendered ncccseary b.v theso regulations, which are now completed at alraoSt.every works in Sheffield where grinding is done, have cost from £2CO to £15C0 according to the size of the establishment! while tho maintenance of the various appliances Installed., in connection with tho regulations . will .constitute .111 additional small permanent charge upon tho manufacturers. . There.has been no chango'in wages in the cutlery trado. for sorao considerable time, . but. tho hand forces of blades aro now asking for nil advanco. Aa a, result of severe competition, due largely to tho multiplicity of- small maltcm seeking a sharo of tho 'trade, the manufacture of cutlery .has during recent years been very unsatisfactory from the point of-view of profits. It is Gigniflcant. however, that the firms which have maintained quality and refused to cut prices appear to havo fared tho best. Tho nucstion of_ advancing Prices has been .discussed informally by the leading mak- i ors, snd It is expected that they will act conccrtedly in tho matter. ..THE' TEA BOOM. < •;''Tte* .}» becoming prosperous." '• writes ! Capital" (Calcutta) in its issuo of January 12, "and tho shortage of tho supply at.'Homo threatens to.'deprive consumers Of the- cheap teas hitherto obtainable, tho • origin ot tho deficiency is partly a fnlhng-off in Ceylon's productiveness, but mainly tho immense incrcaso in tho quantity diverted from tho British market by tho heavy purchases made by. foreign and colonial buyers in Calcutta. Tho secretary of tho China Tea- Association. howOver, states that thore is plenty of good wholesome tea available from China, which will eavo tho situation. Ono fact alleged, which makes for tho increasing ,'dcarncss of tea, is the accelerated demand duo to tho increased purchasing power, of a large number of old-ago pensioners. This army of customers, increasing every year, will all bo steady and confirmed tea-drinkers of tho quality which can bo obtained in England at about from 16d. to 2s. n pound. A pound of tea makes about 1001b. of beverage. Outsido of raw water, tea is tho cheapest mild stimulant in beinc. and not a single chirp is over heard from tho millions of tea-drinkers In Britain about tho iniquity of having to pay a few rcnco per pound Of duty on tea. Tho tea duty at Homo Is tho'only way by which teetotallers and non-smokers amongst the working classes can be made to contribute to the Imperial tasce. > | ' CUSTOMS. ; Tho Customs rovonuo coltoctcd at tho port of Wellington 011 Saturday totalled £923 6s. Bd., tho amount for tho week being £21.006 13s. Bd. Compared with the corresponding periods of last year, tho receipts for tho past seven weeks show as under:— . 19U.- 1910. ; . January 7 ; • 8,143 . 10.599 January 14 24,024 17.699 January 21 9.439 7.46S January 28 • 25,246 20.336 . February 4 12.958 , 11,356 February 11... .'7,572 21,467 ■ February 18 ;... 21.0C6 3,335 ; ' . " • ' rca,lßß 98.257 ' The beer duty for the wt'ok totalled £240 7s. 6d., as'comnarcd with £264 17s. 3d. for I tho corresponding, week of last yenr.- ; FRUIT AND' PRODUCE REPORT. The New Zealand Fruit and Produce Co. report a better market for all kinds of fruit,' especially prime dessert peaches. For a good samplo of these they realised up to 6s. 4d. per half-caso during the past week. Plums, nectarines, pears, and apples all meet with a good demand. Vegetables aro in good request. neas being very high. For n prime samplo they realised 19s. 3d. per sack, containing 12 pccUs. and ordinary green peas are bringing from 12s. to l'«j. per sack or 12 neck:". Below nro tho prices that have been ruling during tho past week:-Oranges (Island), 7s. to 10s. case: lemons (Messina), 15s. 6d. case: pears , (W.11.0.i, 7s. to Gs. ease; pears (cookiui). Js. to la. cafe: passion fruit, 2s. 6d. to 4s. box; bananas, lCs. to I 5«. ease; tomatoes, 2s. to 3s. 6d. case; peaches (cooking), 2f. 6d. to 3s. 6d. caso; peaches (dessert). 4s. Cd. to 6s. 4d. case: plums (prime), 2f. 6d. to ss. 9d. case: plums (yellow), 2s. 6d. to 3s. 9d. cases plums (dark), it, 9d t to 4c, 9d. cate: nee-

tarlnes, 4s. 9d. to ss. 6d. case: cucumbers, ,4s. fd. to 6s. cttEO; cooklns apples, 3c. 9d. to 4?. 6d. .case; Cape Eoosobcnics, 5Jd. per lb'.; new potatoes,' 4s. 6d. to ss. (id. cwt.; onions, 4s. fid. to sd. cwt.; cabbape, 3s. to 4s. cack; carrots, 3s. to ss. sack: cauliflowers, 6s. 6d. to 9s. sack: turnips (white), Is. £d. to fc. sack; pea.? (12 peeks), 12s. to 19s. 9d. Fack: broad beans, lid. per lb.: rhubarb, "s. per dozc:i: French beans. 6s. to 7s. 9d. sack; lettuce. 2s. 6d. to <s. 6d. cate; walnuts, fid. to 7d. per lb.; celery. Is. 6d. to 25..6 d. per dozen: dessert applet, 7s. 6d. to 8->. 6d. cace.; chaff (oaten sheath £5 ss. to £5 15s. per ton; oats A Cartons, 2s. 7d.,t0 2s. Bd. per bushel: bran. £5 ss. Ncr ton; straw, 2s. to 2s. 3d. ba!o; peanuts, 235. arid 21s. cack: chickens. 4s. 6d. to ss. pair; eeits. Is. 4d. per dozen: pollard, -tj lCs. per ton: wheat, 3s. Bd. to 4s. 3d. bushel: ricc. 6f..Cd. per irat: duckF. ss. 6(1. to 6s. 6d. per pair: hens. 13. to 3s. 6d. pair. FEILDING- MARKET 11EP0RT. Messrs. • A. H. Atkinson and Co.. Ltd.. of Foilding. report a small .vardinE of pigs at Friday's -sale. Liirht-weteht porkers sold at' better values. " The noultrv .pens were well filled, and, for the quality offering. prices were better than last week's rates. Wo sold ' several Rood halfdrauelits -and trap horses at ((notations. Plums, pears, and apples of cood duality were in lame 'supply. Tomatoes were sconce, and also peaches. Quotations: — Poultry (at'per pair): Hons. Is.. 25.. 25.'3d., 2s. 9d.,'-35.. 3s. 3d.: cockerels and roostjf.'s, 9d., 10d..' Is.; Is. 3d..'K 6d„ Is. 9d„ lis.; nullots. to 6s. 9d. . Ties: Slips. 45.; stores, 7s. to 12s. 6d.; porkers. 16s. 6d.. 19j., 20s. 6d., 215., 225. 6d.;. sows, 15s. to 16s.- Horces: Pony: 12s. 6d.: hacks.' to £1 10s.; aged half-draughts. £7. £13. £16: 5-year-oM, £20:'irli! and harncrs. £8 10s.: saddle. £4: harness. £4 IDs. to £5 15s.' >Producc; Potatoes.'Bs: to' 10s. per bae: onionr,. 2s. 6d. per case: plums, 2s. to os. 6d.: apples, Zs. 6d. to 3s. '3d.; pears. 2s. to Is.; bran. ss. 6d. per bae: wheat, 4s. Id. per bushel; maize; 3s. sd. to, 45.; Alcerian oafs, Za.; factory bacon, sides,. 7d.: hams, 9d. BANK OF ENGLAND RETURN. By Tileeraph-Press Association—Copyrigki. London, February 18. The Bank of England return issued for the week ended Wednesday, February 15, It as under:— Issce Depabtuexi Koto'lssuo„• jE5i.934.000 Gov.debt ... £11,015,083 ... Otlior securities ... . 7,<34,n00 Goll ». 36.53j.000 £31,051,000 : £51,951,C00 • ' Banking Department. Proprietors' Govt.' securi- - capital V £14.553,000 ' ties.:. •... £14,630,000 Public de- ' Other securi- ' , liosits' ' ... 13,751,003 ties.,, ■ ' ... 20.c03.000 Other ae- " . posits ... 11,263,000 Xotej • 08.0-28.c00 Best, 7-day and other bills .1,590,000 Coin „ „ 8.13,000 .. , £73,157.003 .. £73,157,C00 The leading Items 'of tho Bank* of Ensland return afford the following comparison:— ! ; V This weak. List week, iastyoar • £ £ £■■ Bullion ! 31.505,000 36,505.000 Du,23!,000 Eesorve ... ... 20,021.000 23,101,W0 l!8,i!48,COO Note circulation ai.o-J6.C00 2.VS7.IXJU swaMW Public Deposits 13,751.003 11,740.000 '• F. 078.000 OtherDjposlls 41, -283,000 41,751.00) 44.H9.CWJ Proportion of ' .reserve to . ; liabilities ;... 02.73 • 63.23 63.04 GOVERNMENT 6ECDKITIE3. ' ' ' The following aro the; latest quotation! for Government securities, with a com' parison of thpso ruling last week:— ; > , - Variations — • . , • compared Trios,' with. : ' last week. ' 1 • '■ £ s." d. . Imperial Consols hO :i 6 2S.fid.Mshor L 105 10 .0 lOr.bighor • " 9fi 0 P Ujchaug?'J I N .S.W. 1035 Apl.-Oct. 38 IU 0 103. hi'jhor J, M yjc.l9iflJan..July lQj o 0 i Unibanned 34A ic. liWl-6 Jan.-July W lj 0 ys?, Uiylior 85 0 0 Unchanged si ..b.'A. lW6Jan.nl»ly 07 U u lOs.bl bov . **' 0 0 XncbftnKQd ci 13V10 0 JU3.bif.hor -a .. ".&7 0 0 30a. hlibcr 5 "9-!, 0 iOs.hl bcr *i J25' May * 105 lu 0 • 10s.bi bor 4 „KZ, 1010 Jan..July O;WQ 0 lOa.liif licr ?. b7' 0 0 UOs-hglicr " I H O May-Nov W 0 0 Unchanged u "m May-Nov • W.VJ>o • Unchanged si»Tas. lWoJau..J»|y U7lO 0 Unchanged 3 ■las.ilflj.jo So 0 0 ' Uncbhngod BANK RATES OF DISCOUNT. t Tho Dank of England rato was rcduocd on Juno 9 from 4 to 3. per'pent; on September 29 it was advanced-to 4 per cent:, and on October 20 to's per cent. On December 1 it was lowered to per cent., oil January 27 to 4. nor. cent., and on February 16 to 3J'por ccnt. • - Tiio Bank of France rate was reduccd frdm 3J to 3 per cent, on January 23. 1908, and remains at tho lntt»»r fienre. Tho Imperial Bank of Germnny on January *1,19i9, lowered its rato from 5 to per ccut., nud on* February 10 to 4 rcr cent. But on September 25 it was raised to' 5 per cent., and on February 6 it was reduced to 41 per cent. , . , ' MARKET RATES OF DISCOUNT. The following- aro tho market rales for best threo months' bills:- ; . London , Paris Borlln > i rato. rato. rate. -• -pcrccnt.- percent percent. JU. week - 215-16 Zi ■ K . Last week : 3 ■ • u ■ Last, year 23-16;' l" .' ajj Short loans aro riuotcd at Dcr cent, as against. 23 per cent, last woek. and 13 jccvnt. a year airo. ... COLONIAL AND OTHER PRODUCE.' . Wheat.—Tho wlieat inarketa liavo been inactive. Cartroco arc weaker, owinc to prcssuro to ecll—River Plate 3 and Indiansspecially. Australiaaa I" more 'distant positions are ntglectod. the .Gales that have been effrctod IjeJnst Eencraliy for eoverine liurixises. Tliero v.-as considerable activity on .-Friday, two Australian cargoes beins cold for 345. 3d. iwr nuartor. Victorian, February thipmont, 3<p. lid. There is a small retail trade in Australians on tho snot at 36;. sd. to 575. id. Best New Zealand. 325. 6d. to 335.: inferior, 31s. 6d. : to 325. Flour.—Quiet: Australian natents. on tho fpot,'2ss.'j February-March ehlnments, JJs. ,6d. ' Oats.—Quiet. Gartons, 18s. to 215., Sparrowbllls,. 18s. to 2Cp. Cd. La Plata, MarchAnri] shimuont. 13s."' : Butter—Danish butter, is firm, owinc to hotter Continental demands. Quotations rulo 121s. "to 1235. ner cwt. .Colonial sorts, quiet and unchanucd. Oheece.—Tho market is dull. New Zealand, coloured, 595. .to 60s. per cwt. ■ Sugar.—Gorman beet, 88 per cent.' net titre, 2d. hielier at 9s. sd. per cent.: first mark, granulated, f.0.b,. Hamburc, 3d. hlchcr at lis. 6d. llradford- Taps—Tho market is firm. Forties; Sd. lower at 13} d.: forty-siics, unchanged, , 14} d.; fifties, unehanced at 18jd.; fifty-sixes, unchanged at 21fd.: common clxties, unchatiKcd at 213 d.;. euner sixties, unchanecd at 251 d. Kauri Gum.—At tho kauri eales 419 cases woro offered and 131 sold. Good tlircoquarter scraped realised ISCs. ! : .THE . METAL MARKETS. Copper, on spot, 10s.' higher at £54 1 63. 3d.' per ton; three months. 28s. 9d. higher at £56 10s.; electrolytic, ss. higher at £57 ss. - - , ' -Tin, on snot. £18 higher at £190 ner ton: threo tnonths. £6 ss. higher at £188. Pig-Iron. Middlosboro', No. 3. Id. higher at 48s. lid. per ton. Lead, ,6oft foreign, ss. lower at £12 IBs. 9d. ' ■ Silver.—Bar silver is Quoted at 24 l-16d. per ounce, standard. , WHEAT. Bj Telegraph—Press Assnrir.tinn—Coiwrlcht. London, February 17. Wheat.—An Australian cargo and eighteen thousand Quarters of February shipment sold at 345. ljd., t.wo eareore at 265., ond a. thousand quarters of January-Feb-ruary r.t 345. FROZEN MEAT. By Telegrapli—Press Association—Copyright. London, Fobniary .19; The. Frozen Meat Trade Association's Kmithfleld market auotatlons for tho undermentioned classes of frozen meat arc based ou actual sales of not Icsr than one hundred carcasses of inuttoii or • lamb, and twenty-flvo quarter? of beef of fair average nualiiv. The quotations aro ' not for selected lines, but for parcels fairly representative of the-bulk ■ of tho' shipments now on tho market. Tho prices which follow aro on an average a farthing per lb. moro than the value ex ship, this difference representing an average cost in expenses, handling, conveyance, aud eclling the meat:— Fob. 11. Feb. 18. Glutton— d. d. Canterbury, light — — Canterbury, medium — — Canterbury, heavy — — Southland — — North Island, best 44 41 North Inland, ordinary... 4 4 ( Australian, light 3 3-16 31 I Australian, heavy 3 3-16 3 llivcr Plate, light 3D 33 River Plate, heavy 3J >31 LambCanterbury, light 511-16 51 Canterbury, medium 5J '5s ( Canterbury, heavy 55 511.1s Southland - _f lO North Inland, celectcd ...'53 51 North Island, ordinary... 55-16 . 5? Australian, • best 44 jj Australian, fair 4 / Australian, inforlor 31 s» .Sim Flaw 45.16 4j. 16 I

New Zealand, ox force... 3H 3J Xew Zealand, ox hinds... 33 3J Australian, ox fores Z\ 25 Australian, ox hinds ... 3J 33 llivcr l'late, ox fores ... 3 s River Plate, ox hinds ... 33 JJ Babbits.—Tho market is auiet, with an easier tendency, Pork.-New Zealand is uuoted.at s'd. to 53d. per lb. FROZEN MEAT. ' ' The New Zealand' Loan and Mercantile Agency Co., Ltd., havo received tho followinc cablegram from .their London houre, undir date February . 17:—Frozen Meat: The market for frozen mutton is easier. Stock 3 of frozen lamb aro accumulating. and the market foe frozen beef remains unchanged.