COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1097, 8 April 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT. SHARES. The sales recorded yesterday were Banl; of New Zealand at £11 7s„ Palmerston North Gas at £8 12s. 6d., and Gear Meat (£1 paid) at £3 10s. The buying and selling quotations were as under:— fcuven Sellers j £ a. d, £ s. d National Bank 6 0 0 6 1 6 Wellington Investment ... 11l 2 — Wellington Gas '£10) — 19 0 0 Ohristchurch Meat — 16 5 0 Gear Meat (£1) — 3 10 0 Criion Ste*>in 2 0 0 — Well. Woollen (pref.) 3 0 0 — Taupiri Coal 1 1 6 — Wcstport Coal 19 0 19 9 Loylaud-O'Brieii 16 9. — Manning and Co 4 11 0 — Mirartar, Ud. — 0 2.6 N.Z. Con. Dental ! 2 6 13 6 N.Z. Drug : 2 8 3, — N.Z. Paper Mills 13 6 - Sharland's ordinary 13 9 — Sharland's preference 13 9 — Taranaki Petroleum — 0 14 0 Taringarautu-Totara. ...... 2 B'3 2 8 9 Ward and Co 5 0 0 — Whitcombe and Tombs ... 6 6 0 —

AUSTRALIAN WOOL. Tho tendency of Australian wool to become coarser has been the subject of complaint for years with many wool buyera, states tho "Textile Mercury," with the result that fine wools have been iu most do-, mand right through the season. As buyers put it. Australia was made famous by its fine wools, yet the sheep that produce tlito class of staple are giving place to a more robust type, and each year sees fewer line grades available; Whilst there is some truth in this criticism the influence of tho season is a powerful factor in determining the quality of wool. The clip now being ottered for sale is the very reverse of that of last year, which was ticeptionally well grown, and a poor clip fallowing one ol' marked cxccllencc naturally shows such a diflercnco as to create apprehension in the minds of buyers. It seems highly probable, however, that the progress of closer settlement will help to accentuate the scarcity of really fine wools. The same skill will not be available for the small flocks, and in fact owners of such find that better returns can be secured from medium woolled animals. The average return per head is after all the test of excellence to the producer, and on this basis the more robust type is winning easily. The farmer naturally soon learns which sheep will pay him bcsl, and thus gradually the superfine wool will become scarcer to an extern that will embarrass those buyers who make a speciality of line quality. The ".Mercury" calls attention to a noticeable deterioration in tho general get-up of Australian wool this season. To have the contents of each bale as even in quality, length and condition as possible is just as much in the interest of tho grower as of the buyer, and apparently this fact has not been recognised on this side as thoroughly as in preceding years* -

Customs duties collected at the port of Wellington yesterday amounted to £3711 18s. 6d. BANK OF ENGLAND RETURN. By Telegraph—Press Association-Copyright (Rec. April 7, 8.35 p.m.) London, April G. Tho Bank of England leruni issued for the week ended Wednesday, April 5, is as under:— , Issue Department Koto Issue... «5.22;.0C0 Gov. debt ... £11,015,000 Other securities. ... 7,431,000 Gol-l ... 3ii.77G,000 f55.225.003 £55,-H5,000 Banein'g Department. Proprietors' Govt, socuvicapital £1j,553,CC0 ties £15,135,000 Public do- Other securiposits ... 19,7fi7,000 ties £6,451,000 Other deposits ... 4-2.066,000 Kotos ' ... 26,849,C00 Best, 7-day nr.d other bills ... 3.173,C00 Coin — ... 1,133.000 £79.579.003 £79,579,C00 The leading items or tho Bank of England return afford tho following comparison This week. Last week. Last year £ £ £ Bullion 36,776.000 33.452,0C0 32.028,000 Reserve 27,9fi2,0WJ 30,001,u00 *22,765,000 Xoto circulatioa 23.37ti.C00 27.603.0W -28,932,0U0 Public Deposits 1'J.787,U)J 25,035.UM 10,673,000 Other Deposits 42,056.c0j £9,461,W)J St.ctit.OJO Proportion, of reservo to liabilities -.„ 45.23 46.71 39.55 GOVERNMENT SECURITIES. Ths following are tho latest quotations tor Government tecurities-. with a comparison ol those ruling last weeks-

BANK RATES OF DISCOUNT. The Rank of England rate was reduced on Ji-ne 9 from 4 to 3 per cent.; on September- 29 it was advanced to 4 per cent., and on October 20 to 5 per cent. On December 1 it was lowered to 4| per cent., on January 27 to 4 Dcr cent., and on February 16 to 3$ ier cent., and on March 9 to 3 per cent ■ Tho "Banli of France rate was reduced from 3i to 3 per ceut. on January iO. 19i)i, and remains at tho latter figure. Tho Imperial Bank of Germany on January 21,19L19, lowered its rate from 5 to 4J por cent., and on February 10 to 4 ror cent. But on September 26 it wa3 raised to 5 per cent., on February 6 it was reduced to 41 per cent., and on February 19 to 4 per cent. MARKET RATES OF DISCOUNT. Tho following are the market rales for best thrco months' bills:— 1 " London Paris Berlin rate. rate. rate', percent, percent percent. This'week 2 5-16 25 Last week 21-15 21 3J Last year .' 313-16 2J 3 , Short, loans are quoted.at 3 per cent., as compared, with 3 per. cent, last week, and .33 per cent, a year .ago., ( . ..

COLONIAL AND OTHER PRODUCE. Wheat.—The' markets are fairly steady, and the American l- rather firmer. Chicago May shipments, E5 cents to 85 3-7 cenis. Australian cargoes sold at 325. 6d., 325. lt'Jd.; and 335. lid. respectively. European buyers are inactive; 335. is asked for South Australian, March-April shipment, 325. 9d. for Victoria, April-May shipment, and 325. 6d. for New South Wales, per steamer March shipment;. 31s. 3d. has been paid for a South Australian parcel afloat and 325. 6d. for South Australian and Victorian April shipmont. There is. a. small trade in Australian on spot ht 355. 9d.; New Zealand, 335. 9d. to 345. Flour is steadier and unchanged. Oats—Fine La Plata, ApriLJlay shipment, 13s. 4Jd. Butter.—Danish, 120s. to 122s.,'against 117s. last, week. Australian, at 104s. to IC6=., and New Zealand, at 110s., aro unchanged. Choicest is selling well, but secondaries are practically unsaleable. Cheese—New Zealand, 625.; Victorian, 58s. to 60s. Sugar—German beet, 88 per cent, net titre, 3d. higher, at 10s.' Bd. per cwt.; firstmark granulated, f.o.b. Hamourg, 4a. higher. at 12s. Bd. Bradford Tops.—Tho market is brisk, and there is a hardening tendency for crossbrcds. ..: THE" METAL MARKETS. ' , Copper.—On spot, Is. 3d. lower, at £54'65. 3d. per ton; three months', lis. 3d. higher, at £54 17s. 6d.; electrolytic, ss. lower, at £56 15s. Tin.—On spot. 30s. higher, at £189 per ton; three months', ICS. lower, at £185 10s. Pig-iron, Middlesboro' No. 3, 8;d. lower, at ,465. Bd. per' ton. Lead, 3s. 9d. lower, at £12 16s. 3d. per ton. Silver.—Bar silver is quoted at 24 7-16 d. per ounce standard. COMPANY DIVIDEND. By Telegraph—Press Association—Copyright (Rcc. April 7, 11.30 p.m.) London, April 7. Tho British Australian Trust and Loan Company has declared a dividend at the rate of five per centum, together with a bonus of oho shilling per share. GRAIN AND PRODUCE. (By Telegraph.—Press Association.) Christchurch, April 7.. In sympathy with what may be termed the depression that is existing at the present time in the wheat markets of London and Australia, tho business locally is very slack. Shippers cannot buy at prices that the holders ask. aud the holders in turn are disposed to hang on to their stocks, in tile hope of a turn for the better. Christchurch merchants report that business has been of a very hand-to-mouth description so far as they arc concerned, but some parcels of wheat have changed hands, the buyers being the millers. It is reported that one big line of over 2000 sacks was sold to a miller by a farmer at the current price, but barring this there have been no sales worth special mention. There is little change to chronicle in the oat market. Good Duns have hardened a penny, but otherwise prices remain about tho same. Oatsheaf chaff has risen, and a good sample can command 80s. with very little trouble. There is nothing doing in barley. Onions have firmed to £2 at country stations. Potatoes likewise aro in fair demand at about £3 per toi The market . for dairy produce remains the same, lard having hardened a. halfpenny.

LONDON MARKETS. Messrs. Dalgety and Company, Limited, have received the following cablegram from their London office, dated April 6:— Frozen Meat: There is poor demand. Since our last telegram prices for frozen mutton and lamb are Jd. to 3d. per lb. lower Uecf is unchanged. Tallow: Trices arc Ml. per cwt. lower.

Tlio commerce and tourists division of the Department of Agriculture, Commerce and Tourists has received the following rablegram from Buenos Ayrcs, dated April 6:—Tile following shipments of proaiice were dispatched from the Argentine to the United Kingdom ports during March 1911 (compared with March 1910):—

1911.- 1910. Quarters. Quarters. Frozen beef 255,136 131,163 Chilled beef 90,084 127,989 Carcasses. Carcasses Frozen mutton 159,876 179,093 Frozen lamo 193.053 31,292 Cwt- Cwt. Butter SCO 10,547 WOOL, HIDE AND TALLOW SALES. Messrs. Ttalgety and Company, Limited, report having held their fortnightly wool, skin, hide and tallow sale yesterday. There was a, smaller attendance of buyers than usual, and compi'tilion was not very brisk. Wool: Prices were firm at late rates. Crossbred, 6d. to 7*d.; lamhe, 6Jd. to 73d.; bellies, 53d.; crutchings, 3Jd. to sd. Sheepskins: Crossbred, 6d. to 63d.; shorts, 4rt. to 43d.: quarter-wools, 5Jd. to 53d.: dead, sd. to 5Jd.; -lambs, 53d. to 63d.; black, "lid.; lulf-woofe, damp, Is. 9d. to 4s. 2d.; riuarter-wools, damp, 2s. 7d. to 3s. 5d.: crossbred, damp, 3s. Bd. to 4s. 3d.; lambs, damp, Is. 7d. to 3s. 9d.; pelts, damp, 6d. to Is. 3d.; crossbred, green. 3s. 4d. to 4s. Id.; half-wools, green, 2s. 6d. to 3s. 3d.; halfwools, salted, 3s. Bd. to 45.; quarter-wools, salted, 2s. lOd. to 35.-6 d. Hides; Prices were firm, Ox, medium, 7Jd. to fljd.i ox,

light, 53d. to 63d.; cow. medium, 6d. to 6Jd.; ox, cut, 51d. to 55d.; cow, .slippy, ,4Sd. to sad.: bull, sgd.; bull, slippy, 4id.; calf, 7od. to 83d.; calf, inferior, sid. to 63d. l{oriis, 6s. 3d. per hundred, liabbitskins, 6id. to 7(1. per lb. Tallow; Prices were about Is. 6d. per cwt. lower. In shipping order, 285.; in tini?, 245. to 255.; rough fat, 225. 6d. Jlcssrs. Levin and Company, Limited, report;—We held our fortnightly sale yesterday, when wc offered 25 bales of wool, and a large catalogue—3CCo sheepskins, 400 hides and calfskins, and a quantity of talio>v and horsehair. Wool: Marfct lirmer in sympathy with London, lialfbrcd, lOld. to 11M.; medium. crossbred,-7d. to Bd.: inferior, 6Jd. to 7d.: pieces and bellies, sd. to EJd.: locks, 2d. to 3Jd. Skins: Only Inferior dry slcins offering, owing to tho late period of the season. Butchers and freezers' skins composed a largo portion of our offering, and these met with a good sale at last sale rates. IlaUbrcds, 7d. to 7id.; fine crossbreds, 7d. to 7Jd.; medium crossbrods. 6d. to 7d.; coarse crossbrods, 6d. to 6Jd.; dead skins, sd. to's3d.; .dead hoggets, 4d. to 43d.; quarter to half-wools, 4d. to 6d. dry pelts, Is. to Is. 9d.; green pelts, 2s. 6d. to 4s. 7d.; lamb skins, 2s. to 45.; lambs pelts. Is. to 2s. Tallow: Weaker in sympathy with oversea, markets. Parcels in shipping order, £28 10s.; tins, £24 to £24 55.; rough fat. £20 to £24 ss. Horsehair, Is. to Is. Bd. per lb. Horns, ss. to 16s.- per hundred. Cowtails, Is. Brt. ner dozen. Hides; Iu good demand at slightly lower rates. Ox hides (heavy). 7d. to 7Jd.; ox hides (medium), 6Jd. to 62d.; ox' hides (light), 61d. to 6*d.; cow hides, 6d. to 6Jd.; cut '.and slippy hides, .3d. to 5d.; stag .hides,. 4d. to 5Jd.: bull hides, 3d to sid.; yearlings, 6d. to Cf/J.: calf, best, Bd. to 9Jd.; calf, medium, 7d. to Bd.; calf, cut, and slippy, 4Jd. to 6d. Messrs, Murray, Roberts and Co., Ltd., report:—Wo submitted a catalogue consisting of 25 bales wool, 25C0 sheepskins, and ICO hides yesterday to a fair.- attendance of buyers,, and prices ruled at about last sale's level, excepting for "tallow, whi-ch declined 20s. per cwt., and hides, which showed an easier feeling. Wool: Crossbred, fleece. 7d. to B*d. per lb.:-crossbred lambs, 7»d. to 63d. per lb.; locks, pieces, etc., 3d. to 5Jd. per ,Ib. Sheepskins: Crossbred, woolly, 6id..to 7d. per lb.; crossbred, quarter to half-woolled, sd.' to' 63d. per .lb.; crossbrcd, inferior, 3d.' to sd..per-'lb.'s dead and hoggets,-4d. t-o 5Jd. per lb.;;lambs, woolly, 6Jd. to .63d. por lb.'; lambs, short", 4d. to s>d. per lb.; shorn pelts,. 6d., to Is. 9d. each; crossbred, damp,, aiid'salted,..ls. lCd. to 4s. each;:lambs damp and salted, 2s. 6d. to is. 9d. each: .Hides: Ox,.'medium, 6}d. to 6id. per lb;;-ox, "light, 6d. to 6!d. per lb.; cow. sound 53d. to 6;d: por lb:; damaged and inferior, 41d. to s£d.".pcr lb.; calf, sound, 7{d. to 83d.. per. Ib:-; calf, damaged. 3d. to 5Jd. per ib.".Tallow: Caskc. 275. to 28s. per cwt.; tins, 224. 6d. to 255. per cwt.

Messrs. Abraham and Williams, Ltd., report as follows:—We ,' offered a" good catalogue of all produce to a, fair" attendance of buyers. Wool and skins ruled nrra at late rates, whilst hides and tallow were a- good deal easier, the former being lo V' c J a halfpenny, whilst tallow ruled £1 per ton lower. Wo quote:—Wool, Rough crossbred. 7d. to 7id.-; lambs, 73d.; lambs, seedy, sjd. ; crutchings. 43d.; locks, 3jd. Skins: Coarse crossbred. 61d.; fine crossbred, ?d.; lambs, 63d.; half-wool, 53d.; quarter-wools, Sid. to 5?d.; dead, <jd. to ssd.; short and inferior,- 3d. to 4*d.; butchers' pelts. 3s. Id. to 3s. 6d. to 3s. 10d.; ■lambs, 3s. to 3s. Bd.: lambs' pelts, Is. 6d. Hides: Heavy ox, 6jd. to 7Jd.; medium ox,6Jd.; light, 6d.; medium cows, 6d. to 61d.; cows, damaged, 33d. to 5d.; -stags, 43d.; yearlings, 63d.; calf, 6Jd. to Bid.;'.horse hides, lis. Tallow, in shipping order (good). £28 ss. per ton; in tine, 21s. 3d. Cowtails. Is. 3d. doz. •

Variations compared Prica. vrith ' last week. ■ £ 5. d. 25% Imperial Consols SI 12 6 ;e.6d.lower 4. „M.S3,W.1933Jaii.*July 106.0 0 Unchanged S$ „X.S.V.lulS:uai\-Sop. 10 0 Unchanged S „N.b.\V.m5Api.-OcD. 37 10 0 Unchanged i „ Vic. li)20 Jan.-July 103 10 0 Unchanged 3i „ Vic. 19-JH Jan.-July US 1U 0 Unchanged 3 „ Vic. 19-29-49Jan.-July S5 10 0 Unchanged 3$ „S,A. 191GJan.-July 10 o lOs.highcr y „S.A. iJltj Jan.-July fc- 10 0 Unchanged 1 „QTdl91>2J Jan.-July 1C3 15 0 5s. lower 3* „ yTcirJii-aWan.-Juiy ■ tb 5 o 5s. higher 3 ..(jVcilv&MTJan.-July cG (J 0 Unchanged i 1929 May-No v. 105 O'O 50s. lower 33 „X.Z. 1940 Jan.-Juiy 93 0 0 Unchanged 3 „N.Z. 19i5Ai>ril-Oct. w 10 0 Unchanged 3} „ W.A.lShO)-jOA£ay-Nov lu 0 30s. lower l i „ V.A.iyio-io.May-.Vov W 0 0 SOs. lower 3i „ Tas. lWOJau.-Jnly 97 10 0 Unchanged 'i ,,'i'as. Jaa.-July £5 10 U Unchanged