COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1246, 30 September 1911, Page 4

COMMERCIAL ITEMS.

INVESTMENT SHAKES. A .sale of New Zealand Paper Mills sharc3 at nCs. 3d. _ was tho only trans* action recorded in investment shaieti yesterday. The buying tho selling quotations wero as under;— Buyers. Sellers. „ ' , ,• „ , i&d ' £ s-d. Ba.nk of I<ew Zealand- ... — 12 3 6 National Bank 6 16 — Metropolitan Building ... — 12 8 6 well. Trust and Loan ... 7 9 6 — Well. Deposit — 0 8 3 Chcistchureh Gas 9 12 6 9 13 6 Well. (las (£10) - M " 0 Well. Gas (now) 2 15 0 3 0 0 Well. Gas (rights) 0 0 4 0 0 5 Standard Insurance — 1 12 0 Union Steam — 2 0 9 Well. Woollen (ord.) — 3 17 6 Woll. Woollen (pref.j — 3 0 0 .Uikurangi Coal 019 3 110 Ley-land O'Brien 18 9 — Manning and Co 3 15 0 — Sharland's ordinary — 14 6 Taranaki Poiroioura — 0 la 0 ICotukn Oil (10s.) 16 6 — T-irincamutu Totara 2 2 9 2 4 0 Ward aud Co. ~ 4 15 0 — THE WOOL MARKET. Under the stimulating influenco of animated competition, tho wool market exhibits a' firmer tendency, and it ia now not unlikely that tho initial decline will be recovered. The position of wool appears to bo very strong when tho circumstances of tho situation aro taken into consideration. Tho political outlook in Europe is far. from, satisfactory; oven the Morticco incident is not closed. The money markets are in a norvous staito': and dirtiness prevails in America. In spite of all this, thefo is a eood demand for wool, and if tho c-ouds would clear a little. priceß would certainly rise. KOTUKtJ OIL FIELDS SYNDICATE. Tho Kotuku oil bores aie beeioiilne to attract attention, and tho shares of tho company tiro ouoted at a big premium. The construction of tho company and Its capital arrangements must, thereforo. bo of interest to investors. Tho syndicate was arigindly formed in Loudon by Mr. David Zyman, who acquired tho 40CO acres from the original lessees. Tho capital of the

syndicate was £40,000, of which} 22.GD0 shares of £1 eacli were taken up ot <xico. Of this 10s. in cash has been paid. oral there is a , liability of 10s. per share; 17.5C(h shares wcro held in reserve, aad under oofcion until tho end of 1912 to the OonuoUdat<e*i GoldiloMfl \ of New Zealand and other subscribers. Dr. Wanner* Professor of Geology at tho Bonn University, was sent out to report, and, on his &ablod advices, a borinir ula.at to work to a depth of <000 ft. was sent out. Later, the Asiatic Petroleum Oomnony.* a subsidiary concern of the Shell Transport Company, Kouffht to obtain a controlling interest iu tho syndicate, and to tfcako full charge of the development of ftio fteld. The capital of tho syndicate vraa to £100,000, and the "Shell" noonle took up 30.000 nharcs. for which 10s. oer shtiro in cash was paid, and there is a balntico liability of 10s. 25,000 shares were option to tho eame group till the end of 1912, wlieu the options must bo cxerciscdoij abandoned. Tho promoter received 5000 shares for services rendered, eo that, oufr of a totaJ capital of £100,CC0, there is d>9a,jX)o available for development. On the advice of Dr. Wanner, a further 28.000 aeres-- have been scoured at Kotuku, and also jIO.cCO acres on tho west coast of the South Island, and between 20,000 and 40.000 acrt-s in 1 tho Dannovirke district. Drilling at Kotjiku, about a mile distant from the Bite of, the; original bores, was begun a few weeksjfifo, and excellent indication* have been obtjiin-, cd Two expert drillers left London At'henic to operate on .tho field near virke, and the machinery is also on tho water. Customs revenue collected at tho port of Wellington yesterday amounted to 6s. lid. . BANK OP ENGLAND RETURN. By Telegraph—Press Association— Oopyrfaht (Rec. September 29, 9.15 p.m.) London, September 29. Too Bank' of England return issued for the week ended Wednesday, September 2/, is as under Issof. Depahtstcnt NotoIis«8'» *08,651,000 Gov. debt ... £11,OlS, Ottaor securities ... HM.fH) Gold <0.W2,00Q £53,851,000 £38.831.000 BINKIXG DEPAimtBNT. Proprietors' Govt, sccuricapit»l £H,553,000 ties £14,033,000 Public da- Other socurinosits ... 12,171,000 tics £0.158,009 Otbor aopositß ... 43.711.000 NofeM - 29,787,000 Best, 7-day and other bills 3.767,000 Coin m 1,150.000 £74,202,003 £74,202,000 The leading itemß of the Bank of England! return afford the following comparison:— This week Last week. Last year £ £ £ Bullion 40.402.000 41.006,000 35,52f>,0M Reserve £0,946.000 32.573.000 27.8U0.C00 Kote circulation MM.OOO 25.1550,000 27,P.v..\00!) Public Doposifcg 1t2.17i.06J 11.fi01.000 12.702.UX) Other Deposits 43,711.000 45,554.00) 43,4tf9,0ft) Proportion of reserve to liabilities ... 55.34 66.70 50.39 GOVERNMENT SFCUETCTES. ' The fallowing are the latest quotation) for Government securities, with a coca* parison of thoso ruling last veokr— Variations compared Price, with • . last week. £ S. d. £$% Imperial Consols 7ti 15 0 (Jnchangcd i H N.S."\V.I933Jan.-Jaly 101 0 0 Unchanged Si „N.S.\V.I ( Jlß:«tar.-Sep. 03 10 0 Unchanged 3 „15\5."W.11)35 Apl.-Oct. 80 0 0 Unchantfcd i „Vic. lOSOJan.july 10.5 0 0 Unchanged 3i „ Vic. 10il-ti Jan.-July . UH 0 0 Unchanged 3 „ Vic. l'JilMO Jan.-Juiy 84 10 0 Uncbangoil 3J „S,A. lOlSJanXJuly 93 0 0 Unchanged 3 „B.A. lOlii Jan.-July B2 0 0 Unchanged i „.QTdlols-2i Jan.-J.uly 10-2 0 8 Unchanged Sj „ QTdlfi2l-oOJau.-July C 6 0 0 Unchanged i „QTdlo2e.47Jan.-Jiily 36 0-U Uncbanjad 4 „N.Z. 1029 May-Nov, 104 0 0 Unchanged 3i „N.Z. IUIO Jan.-Jaly 07 0 0 Unchanged 3 „NJS. l&it'" April-Oct. 65 10 0 Unchanged 34W.A.192(W0May-Nov W 7 6 Unclmnced. 0 „ "W,A,lSld-Si>Ms,y-NoY °610 0 Unchanged ih „ Tas. 3WOJan.-July &7 0 0 8 ..li'as.lDSMO Jan.-Jnly 64 10 0 Unchanged BANK RATES OF DISCOUNT. The Bank of England rate was, on De« cerabor 1, 1910, lowered from 6 to 4J per cent.; on January 27 it wag lowered to 4

per cent., on February 16 to 3J per cent., and on March 9 to 3 per cent. On September 21 it was advanced to 4 per cent . Tho' Hank of France rate w»i« rcduced from 3i to 3 per cent, on January 23. 1908. and continued at tho latter figure until September 21, 1911. when it was raised to 3J per cent. Tho Imperial Bank of Germany reduced its rate from 5 to 4i per cent, on February 6, a«il on February 19 the rate was further reduced to 4 per cent. On September 19 tho rate was raised ip 5 per cent. MAItKET RATES OF DISCOUNT. Tho following arc tho market rates for best three months' bills:— London Paris Berlin rate. rate. rate, percent percent, percent This week 33 3 43 Last week 311-16 21 3^ Last' year 3 9-16 23 4} Short loans are quoted at 23 per cent., a a against 21 per cent, last week, and 33 per cent, last year. COLONIAL AND OTHER PRODUCE. Wheat.—The markets are ouict. and buy* ers are uninterested in Australian. Russian cargoes arc being freclv offered. An Australian cargo sold at 355. 6d. Holders are asking 365. 9d. for South Australian, July-Septembcr-November shipment, 365. IOJd. for New South Wales, shipment during first half of October; 345. 3d. lias been paid for Australian parcels afloat., and 345. 10£ d. for South Australian and Victoriaai, October-November shipment. Tliero is fair inauiry for Australian on spot at 375. Flour ia inactive. Oats arc slow of sale. La Plata, Nov--1 eraber-Deocmbcr shipment, 17s. Butter is very firm, with a hardening ten--1 dency owing to short supplies from all sources, especially Cantiucntnl. Danish is quoted at about 1415., as asaiuet 1355. Inst week. Choicest Australian is in strong dc-mac-d, at 130s. to 1325.; secondaries are in lesa request, at 118s. to 1265. . Cheese is firm. Canadian. 70-s. to 725.; New Zealand, on spot, none offering. Sugar.—German beet, £8 per cent, net titre Is. 6d. higher, at IBs. per cwt.: first mark granulated, f.o.b. Hamburg, unchanged. at 21s. Bradford Tow*—There is a limited supply, with slightly more innuiry: 46's, for immediate delivery, !4d. per lb. Wool Sales.—The following arc the prices realised for the clips named:—"Mountalto," top price, llid., average price, 10d.; "Murchison." top price, 23d.. average. 21j]d. THE METAL MARKETS. Copper, on root. ss. higher, at £54 15s. per ton; three months, (6s. 3d. higher, at £55 Us. 3d. j electrolytic, lCs. lower, at £56 15a. Tin, on spot. £3 15s. higher, at £177 15s. per ton; three months, £2 15s. higher, at £174. Lead.—Soft foreign, 12s. 6d. lower, at £14 15f. per ton. Pig-iron. 4d. lower, at 4fc. 3d. per ton. Spelter, unchanged, at £27 15s. por ton. LONDON WOOL SALES. By Telegraph—Press Aecorintinn—Oopyriffht London, September 28. At tho wool sales the following prices were realised for tho fleece portions of the clips named:—Waitopapia. ton price. fi*d. ror lb., average BJd.: Telia ka. IOJd. and 9?d.: Gear. 15d. and llEd.: Kocutone, 16d. and 15id. [ Later. There was good competition at tho wool pales. Greasy combings and scoureds were irregular in pricc. Crossbreds were slightly firmer. LONDON MARKETS. Messrs. Dalcrety and Company. Limited, have received tho folio win ft market information from their London ofPcc by caMcgrimi dated Heptember 23:—Frozen Meat.—Mutton and Lamb: Since our last oablessrnn. there has been a p'jor demand owing to the low pricos of Home-grown ni?d Dutch, Irut holders are firm at unchanged prices. Beef unchanged. Tallow: AH sorts except fine bocf and 'mutton tallow arc 6d. per cv/t. lower since our last wire. Any change is in favour of burerw. Tho New Zen-land Loan and Mercantile Agency Company. Limited, have received the following cablegram from their London house under dato September 27:—Tallow—Present mot values: Good mutton, 375. 9d. per cwt.: good beef.. 3*s. 9d. Ncr c^vt.; mised. 325. 6d. per cwt. The-market ,w quiet. Wheat.—We have sold a New Zealand parcel at 32*. 9d. c.i.f. There is very little demand; quotations are uominal. and tho outlook is discouraging. Wo quot?, per quarter c.i.f New Zealand whept, long-berried. 335. 3d.; short-berried, 325. 9d.

I MINING NEWS. WELLINGTON SHAKE MARKET. \Vaihi Grand Junctions wcro acrnin in evidence vestcrday, Bales bcine made at 355. 6d., closiiK' at 355. Wa.ihis wei*e quiet, u>t 71s. T:i!i.s-jna,ns weru ncu'lected. Tlio sales renoireil were as under t— New Sylvia, Is. lljd. (tliird call). M r aihi, 71s (second call). Wailii Grand .lunotion. 345. 9d.. 355. 6d., 355. 3d., 355. 3d. (sccond call): 355. (third call). The buying and Belling quotations wcro as under:— Buyers. Sellers. , £ s. d. £ s. d. lllackwater — 17 3 Con. Goldiielda — 10 0 Kura.nui Caledonian — 0 13 New l>i:r liiver — 3 18 3 New Sylvia 0 1 10 0 2 0 Saxon 0 17 0 19 'l'airua Mines — 0 0 9 Talisman 2 9 9 2 10 6 Wailii 3 11 0 3 11 6 Waihi Grand Junction ... — 1 15 3 Wailangi 0 2 10 — Waihi Pacroa — 0 15 0 Worksop Dredse 2 7 6 2 10 0 Murray Creek (5g.) 0 7 9 — STOCK EXCHANGE. (By Telegraph.—Press Association.) Auckland, September 29. The following business waa done at tie 3.15 p.m. call to-day:— Sarton, Is. 7d. I'ridc of Waihi. 2}d. Wailii Grand Junction, £1 14s. 9d., £1 14s. 6d. Handsworth. 13rd. : May Queen. 2s. Id. Golden Cross. 9d. Waihi, £3 10s. 9d. Auckland Gae. £3 10s. Dunodln, Sentomber 29. Stock Eschamze sales:— Waihi Grand Junction, £1 155.. £1 15s. Id. Sales reported:— Wailii Grand Junction, £1 15e. 3d., £1 14s. 9d., £1 15s. 3d. (8 weeks' delivery. National Insurance. £1 18s. 6d. Cliristchuroli, September 29. Sales reported on the Stock Exchange of Canterbury Standard Insurance of N.Z.. 31s. lOid, Waihi Extended. 2s. Id., 2s. 2d. The followinc sale was made on'Chango to-day:— Manninc and Co., £4. LONDON MINING QUOTATIONS. By Telegraph—Press Association-Copyright _ . . London, Seplcmher 28. Waihi shares are quoted at £3 IDs. to £3 125. 6d.; Grand Junction, £1 13s. Gd. to £1 14s. 6d.; Talisman, £2 Bs. 9d. to £2 lis. 3d.

! GRAND JUNCTION. (By Telegraph.—Press Association.) Auckland, September 29. For tho past five days froo sales have boon made of Wailii Grand Junction Fliorofl i and tho price has advanced to 563., os compared with.29s. a few weeks a*ro. Yesterday one line of 500 shares was nlncod. There have been rumours of good oro being met with, and theso are substantiated by the following telegram received to-day fron tho Waihi correspondent of the Auckland "Star":—'"Exceptionally fine looking oro is showing in the crosscut from tho winze on tho Koyal lode, No. 5 lovcl. in the Grand Junction mine. Tho amy returns should show highly satisfactory values, as about 30 fect of high grade oro is showing in the crosscut, which is not yet through the reef." WAIHI MINE, (By Telegraph.—Press Association.) Auckland, Sentcrobcr 29. Tho following cablegram lias been dispatched to the London oflico of tho Wailii Company:—No. 8 level: Scorpion B.E. crosscut, 782 feet driven. No. 8 level: Empire lodo south from perch crosscut. 12 fect driven (658 ft. to 650 ft), value 7e. per ton. Width of lodo about four fect. Martha lode north section west of No. 4 shaft: Crosscut at 700 feet has been driven 12 feet, value Bs. per ton. No. 10 level cropscut, north from No. 5 shaft: 57 fect driven (7llft. to 714 ft). Empire lode cast of No. 4 ehaft: Crosscut at No. 10 level 30 fect driven, value £2 4s. per ton." MAT QUEEN. (By Telegraph.—Press Association.) Auckland, September 29. A return of more than usual importance was posted on tho Exchange this afternoon from tho manager of the May Queen ; mine. Tho importance lies in the fact that, it proves the ore from the exchange reef at tho thousand foot level to bo worth 5& ounces of bullion per lode. The telegram reads as follows:—"Crushed 37 loads of quartz for 150oz. of retorted cold. Tho quartz was from tho Erchaneo roof at the thousand foot level. The yield is at tho rate of sioz. per load. DREDGING. Dunedin, September 29. Dredging Returns: Electric I. 84oz. 6dwt.; Electric 11. 40oz. 17dwt.; Masterton. 370z. 12d\vt.; Karaunui, oloz. 12dwt.j Roputai, 18oz. 15dwt.: Mystery Flat. 18oz. ludwt.; Waikaia, 13oz. 3dwt.