COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1061, 25 February 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. No transactions in investment shares were recorded yesterday, but the market was firm all round. Tho quotations were as under:— Buyers. Sellers. £ 6. d. £ B. d. National Bank 60 0 .5 55' Kquitablo Building 915 0 10 0 0 Metropolitan ■ ;12 0 0 ' ~ National Mortgago 3 2 6 J 5 o N.Z. Loan and Jlercantilo 010 0 — Well. Investment 0 11 0 0 11 6 Well. Trust and Loan 7 12 6 — Ohristcliurch (las 915 0 . 10 0 0 Follcllng Gas 116 12 0 Napier Oar. 12 0 0 — Well. Oas (£10) 18 10 0 19 0 0 Well. Gas (£6 155.) 13 12 6 - Well. Gas (new) 2 12 6 — N.Z. Insurance .— .4 5 0 Gear Meat (£1) 3'3 0 — Union Steam 117 3 . — Kaiapoi Woollen 5 0 0 — Well. Woollen (ord.) ... - <0 0 Well. Woollen (pref.) ... 2 16 0 3 0 0 Leyiand-O'llricn — 17 3 Manning and Co 4 10 0 — Miramar, Ltd — 0 2 6 Taranakl Petroleum 0 13 3 0 14 3 Taringamutu Totara .... 2 6 0 2 8 0 Ward and Co 418 0 5 1 0 EMPIRE MANUFACTURING CO., LTD. Tho Empiro Manufacturing Company, Ltd.. was registered as a private company on February 16, with a, capital .'of £16,000, in 16,000 shares of £1 each. The subscribers wero:-rN. Rcid, 1500 fully paid shares and 3000 contributing shares: A. H. Turnbull, 1500 fully paid shares: J. A. Strang, 3000 contributing; J. 11. P. Strang, 3000; D. W. Strang, 3000; and J. D. Williamson, 1000. Tho company has been formed to tako over as a. going' concern a portion of tho business, tho manufacturing department, and to carry on tho business of general merchants, exporters, etc. A new.factory for preserving and pickling is in courso of construction on a site off Arlington Street. THE PRICE OF TIN. Fluctuations in tho prico of tin havo been violent to a degree during this month, and tho metal appears to be a remarkably fine gambling counter. On January 31 cash tin sold at £203 55., and on January 14 tho prico wafr down to £172 55., it is now over £195. • Tho rise in the value of tho metal is attributed in tho first place to the operations of a Continental syndicate, which obtainod control of tho supplies, and ono factor after another has strengthened tho position of tho clinue. Tho tinplato tradp both in Great Britain and America has become exceptionally active, tho requirements of the Welsh tinplato trado tor 1911 representing over an incrcaso of 15C0 ton 3 in tho supply of tin. and in tho United States similar conditions prevail. In addition to steadily growing consumption supplies from the. East are not coming forward .'so freely 'as hitherto, and until tho labour at ; the,mines can. be reinforced a reduced volume ■ of output -.must bo anticipated; nighcr wages have been offered for somo time past, but as rubber planters aro ablo to hold out even better terms, coupled with a moro congenial form of employment, tho natives havo left the mines in largo numbers. In the caso'of most articles of commcrco high prices stimulate production, and this applies just a3 much to metals as to manufactured. goods. When ono comes to 5 consi(lor tho case of tin. however, it is 'necessary to remember that tho bulk of tho world's supplies come from tho East, and tho ideas ol the Asiatic resardinir his conditions of labour aro different- from thoso of Western nations. The , bulk of the tin .produced in -the Straits is worked on tho tribute system, and tho lessees of the innumer.iblo small, areas in tho mining districts will not continue to work*after they have earned sufficient money to meet their requirements. Consequently, tho higher tho prico ruling for tin tho less it is necessary to produce in order to mako a given profit. Thus, instead of abnormally high values leading to increased production, as in most branches of commerce, tho tendency is qutto tho other'way in tho caso of tin. - -

/ , CUIEF WOOL IMrORTERS. " ' According .to- tho'nhnnal statement of Brown and Uaglo, Limited,. wool waro-houEO-kecpcrs, 'Loudon, thoso- importers into tho London market who received over 10,000 bales of Australian and Capo wool may be set forth thus :— 67,311 bales—Dalgcty and Co., Ltd.' 45,339 bales—Union Bank of Australia, Ltd.- ■ • ,42,911 bales—New Zealand and Mercantilo Agency Co., Ltd. • .' 42,442 bales—Bank of New Zealand.' .39,003 bales—Sanderson, Murray, and. Co. '31,504 bales—James Mormon and Co., Ltd. 30,379 bales—New -Zealand and Australian Land Co., Ltd. 29,115 bales—Australian Mercantilo Land and Finance Co., Ltd. 26,432 bales—Bank of Now South Wales. 26,272 bales—Bank- of Australasia. 1 20,402 bales—Australian Estates and Mortgage Co., Ltd. ' 20(305 hales—Robert Brooks anrt Co. 20,140 bales—National Mortgago and Agency Co. of New Zealand, Ltd. 18,283 bales—Eldert Smith, and Co.. Ltd. 15,059 bales—A. li. Elder and Co., Ltd. 13,352 bales—Antony Gibbs. and Sons. 12,841 balea-Gilllllan and Page. 10,814 bales—W. Weddcl and Co. 10,205 bale3—ll. Dawson and Co. , 10,064 tales-Scottish Australian Investment Co., Ltd. ; . .Customs rovenuo collected at tho port of Wellington yesterday amounted to £5572 Is. 3d. . v BANK OF ENGLAND RETURN. BjrTslegrapb-Prcßj Assoelatlm-CopjrrUk l . (Ecc. February 25, 7.20 p.m.) London, February 23. The Bank of England return issued for tho wo:k ended Wednesday, February 22, is as under/. 1 ISSUE Department - Koto Issue... £55.540.000 Gov. debt Otbor securl- ' tios ... 7,434,000 Gold • ». 37.001.000 - £55,510,000 £55,510,000 Bisnxo Department. Proprietors' • Govt, socuricapttal £14,553,000 tios £14,830,000 Tublic do- Other sccurlposits 16,675.000 tics... ... £0.713,000 Other do- . posits 10.050,000 Notes < .. 28.130.C00 Best, 7-day ... . aud other ' . bills 3,602.000 Coin «, 1,107.CQ0 . ! £75.0W.1X»- -, £75.050.C00 The leading items of'the Bank of England return afford tho following-com-•partson:— This week. Last wcok.'Last year v ■ i Bullion ..." 37,091,000 36.505,000 bi.404,000 Reserve 20,537,000 29,021 ,UOO 27,333,000 Note circulation 27,110.000 26.0J6.000 27,748,000 Public Deposits 16.875.UW 13,751,003. e,251,000 Other Doposits 40.050.1XXJ 11.263.00J 41,400,000 Proportion of rcsorvo to ' liabilities ... ci.B6 52.7-3 61.67 GOVERNMENT SECURITIES. The following are tho latest quotation, for Government securities, with o com' parison of those ruling last week:—

BANK RATES OF DISCOUNT. Fho Banlt of England rato was rcduoed on Juno' 9 from 4to 3 per cent: on September 29 it was advanced to 4 per cent., and on Octobcr 20 to 5 per ccnt. On December 1 it was lowered to 4J per cent., on January 27 to 4 per cent., and on February 16 to 3S per cent. Tho Bank of Franco rato was. reduced from 3J to 3 per ccnt. on January 25. 19C3. and remains at I tin latter flcure. Tho Imperial Bank of Germany on January 21,19D9, lowered its rato from 5 to 4J por cent., and on February 10 to 4 per cent. But on Soptcmber 26 it was raised to 5 per cent., on February 6 it was reduced to 4J per ccnt., and on February 19 to 4 per cent.

MARKET BATES OF DISCOUNT. Tho follotrinc aro tho market rates tor best thrco months' bills:— London Paris Berlin rato. rate. rato. percent, per ccnt. percent. . This week 31 2J 3 Last week' 215-16 2J 23 Last year 23 1 2j Short loans aro quoted at 3J p'cr cent., as against 2i per ccnt. last week, and H per ceut. a year ago.

COLONIAL AND OTHER PRODUCE. Wheat.—Tho markets aro tending downwards, buyers aro iudisposed to operate, although holders aro offering slight concessions. A cargo of Australian ■ sold at 35b. 7di Holderi are asking Jlj, 3d, tot

South Australian, per 6tcamcr January shipment, 3<s. ljd. per sailor, January shipment, 345. for January-February shipmenl, and 3-!?. 3d. for pared? afloat. A quiet trade is doinc in Australian on spot at 375. 3d. to 375. 6d. Flour is inactive and unchanged. Oats nro'quiet. La Plata, March-April shipment, 13s. Batter is steady, and generally unchanged. Thero is a good trado passing in choicest, with a poor demand for secondaries. Oheeso is unchanged. ■ New Zealand, coloured, 595. to 60s. per cwt. Sugar.—German beet, 83 per cent, net titro. 3d. higher, at 9s. Bd. per cwt.; first mark granulated, f.o.b. Hamburg, 3d, higher at' lis, 9d. Bradford Tops—Tho.market is firm, and prices nro.unchanged. Forties, 131d.j fortysiics, Hid.: fifties. 18Jd.; fifty-sixes, Zljd.; common sixties, 21Jd.; super sixties, 25Jd. THE JIETAIi MARKETS. Copper.—On spot, 3s. 9d. higher, at £55 per ton: three months, 16s. 3d, lower, at £55 133. 9(1. Tin.—On spot, £4 higher, at £194 per ton; three months. 20s. higher, at £189. Pig-iron.—Middlesbrough No.-3, 9d, lower, at 495. 2d. per ton. Lead—Soft foreign, ss. higher, at £13 3s. 9d. per ton. , . Spelter, Is. 3d. lower, at £23 6s. 3d. per ton. . Silver.—Bar silver is quoted at 1A 3-16 d. per ounce standard. GItAIN -AND PRODUCE. . - (By Telegraph—Press Association.) Christchurch, Fobruary 24. Wheat has bcoi offered in fairly largo quantities during tho week, and growers being moro willing to accept 3s. at country stations, a good many sales have taken Place. Somo lines of smutted and inferior wheat havo chanced hands at 2s. 9d. to 2s. lid., but for good milling wheat 33. is tho regular prico being paid. Somo space is being taken for shipments to London, hut most of tho business that is being dono Is for local milling and for tho North Island, or to go into store. Though oats aio scarce, there is practically no. inquiry except for local consumption. as priccs are beyond tho limits at which business can bo dono with the North Island. Chaff remains at 655. at country stations. The demand for barley is now dull, and' lines that would havo commanded ss.' 6d. a. short timo ago aro difficult to dispose of at anything like this figure. Partridge peas are easier, and mo3t buyers are now not offering moro than 3s. Bd., and this price, it is stated, can only bo paid to fill contracts, as It is not warranted by the state of tho London' market.

Tho potato market is easier, £3 being offered for immediate delivery, and £2 10s. to £2 15s. for delivery during March.

For cocksfoot up to 7J(ii has been paid, tho crop having proved even shorter than .was.estimated, . ;

FRUIT AND PRODUCE !B'HPOKT. . • Tho New Zealand Fruit and Produco Company. Ltd., roport for. the week as follows:—We had a fair demand for fruit and vegetables, especially nectarincs and

Slums. Pons nnrt French beans aro still ringing high priccs, though tomatoes arc in over supply, and pricc3 aro low. Following wero tho priccs ruling in our Oranges, island, 7s. to Mb. per case; lemons (Messina), 15.5. GU. per ease; pears, W.B.C. 7s. to Bc. per case, cookiujr to 6s. per ease; passior.s, 2s. 6d. to 4s. box; banana?, 10s. to 12s. per case: peaches, cooking 2*. 6d. to 3s. 6d. per half caw, dessert 6d. to 6s. 4d. per ' half-case; pluma, red 3s. 6d. to Ji3.. Ucl, per half-ease, yellow 2s. 6d. to 3s. 9d. per half-ease; nectarines, 63. to 6a. lOd. per half-ease; Capo Gooseberries, 4Jd. to 5Jd. per lb.; apples, desert, Cox Orango. 7a. 6d. to Bj._ per case, others 6s. to ,7s. 6d. per case; cooking 3s. 9d. to 4s. 6d. per caso; potatoes (now), ss. to 6s. per cwt.; onion 3, 45.-6 d. to per cwt.; cabbage, 4s. to'6s. sack: carrots, ss. to 7s. per sack; cauliflower, 6.1. 6d. to 9s. per sack; turnips, 3s. to <s. 6d. per sack: neas (12nkJ, 12s. to 355. per sack; broad, beans, lfld. per lb.; rhubarb, 2s. per dozen; French beans, 6s. to 7s. 9d. per sack; lettucc, 2n. 6d. to Ai, 6d. per case: celery. Is. 6d. to 2i.«. 6d. per dozen; cucumbers, 4s. 6d. to 6s. per oiso: tomatoes, Is. 6d. to Is. 9d. per case; chaff, oatenshoif, .€5 ss. to £5 15-3.; oats, A grade Cartons, 2s. 7d. to 2s. Bd. oer bushel; brm, £5 ncr ton; straw, 2s. to 2s. 3d. per balo; nollard, £6 per ton; wheat, 35. Bd. to 3d. per bushol; rice, 6<?. 6d. per mat. (561b.); neanuts, 21s. and 235. per sack; chickons, ?s. 6d. to 4s. per Dair; ducks, 4s. fid. to ss. 6d. per pair; hens. 2s. to 2s. 6d. per pair; eggs, Is. 6d. per dozen.

Variations compaiod Prlco. with __ lastweok. • ' £ b. d. 2i%,IraPoviMCon5ol8 tO 7 G os.hlgher 4 „N,S.W.1933 Jan.-July 105 10 0 Unchanged 3i „N.S.\V.1918 .\lar.-Sop. 03 0 0 Unchanged 8 „K.S.\V.1'J3j Apl.-Oct. 89 10 o Unchanged 4 „ Yic.l02OJnn.july 103 10 0 10s.hl,her 3a m 10»1*0 Jmi.-July 07 10 0 0s. lower 5. „ Vic. 19-29-49Jan.-July 65 0 0 Unchanged. 34 „S,A. lOIBJan.July -07 0 0 Unchanged 3 „S.A. 1J16 Jan.-July M O 0 Unchanged o Unchanged WOO Unchanged "9^^ an, *^ u b' 33 10 0 Unchanged U "v.*5* JSS•y ay * Nov ' W5 10 0 Unchanged 35 ♦. 10i0 Jan.-July Od 10 0 Unchanged' Si •'$« »• JiKS^ pr H*Oct. 67 0 0 Unchaugod 07 10 0 10s. higher 3, 0 (I 10s;higher 3i „ Tas. IWOJan.-July ' 07 10 0 Unchanged 3 „ r&8. jaa,«july 86 0 0 Unchangod