COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1348, 27 January 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SIIAP.ES. Thorn were again no transactions in investment stocks yesterday. The buying and selling Quotations were as under:— Buyers. Kellers. £ s. d. £ a. d. Hank of New South Wales 45 0 0 - Bank of Now Zealand — II 2 6 Well. Trust and Loan 7 1J 6 — Auckland Gas 3 18 0 Christclmreh Gas 9 10 0 913 6 Napier Gas - 24 10 0 Well, Gas (£10) 18 2 6 18 10 0 Meat Export (£4) - 5 0 0 N.Z. Shipping - 16 5 0 Union Steam — 2 0 0 Well. Woollen (ord.) - 3 16 0 Well. Woollen (pref.) 2 18 0 3 16 Hikiirangi Coal 10 0 Taupiri Coal 110 Wostport Coal — 17 0 Lcyland-O'Brien 18 9 - Tarjnganiutu Totara- — 2 7 0 C. M.'Ranks, Ltd - 10 0 Donaghy Eope and Twine - 12 6 Golden Bay Cement 13 0 — Manning and Co — 4 12 0 N.X. Con. Dental — 12 6 Sharland's preference — 14 6 Ward and Co ( — 5 6 0 SUPPLIES OF WOOL. It appears from Messrs. Helimrth, Schwartzo and Co.'s circular that the supplies of wool for Europe and North America last year increased by 150.CC0 bales, the increase being mainly Australian. The following, taken from records supplied by the samo firm, show tho growth of these wool supplies during 31 years, and the commanding position Australasia has secured in tho trade:— Wool Imports into Europe and North America. Austral- Hirer Toasian. Cape. Plate. gethcr. Bales. Bales. Bales. Bales. 1680 869.CC0 219.C00 289.CC0 1.377.CC0 1655 1.094,000 165,000 4C2.0C0 1,684,010 1890 1.411.CC0 288,000 317,000 2.C16.0C0 1895 2.CCI.CCO 269,000 513.CC0 2,783,0:0 1900 1,«6,C£0 140,000 468,000 2,064,CC0 1905 1,633.000 209, CM 438,000 2,330,C<10 1910 2,411,GC0 377,080 461.CC0 3,249,000 1911 2,524,000 ' 376,000 499,000 3,399,000 The London sales of Australasian and Cape wools last year reached 957,629 bales, against 864,210 bales in the previous year. But these sales covered .about 908,000 bales of first-hand wools, against £07,000 bales in 1910. Consequently,' 31.3 per cent, of the Australasian and Cape wools were sold in London. JOINT STOCK EXTEHriJISE IN INDIA. During the past few ycars'joint 6tock enterprise in India has shown a promising expansion, and at the present time there are in operation some 22C0 companies, v.itli a paid-up capital of £40,769,000. This capital has increased by 70 per cent, in the last ten years. Joint stock undertakings flourish chiefly in Bengal and Bombay, which possess respectively 41 per cent, and 3V per cent, of the paid-up capital. The distribution among companies of different classes is as follows:— £ Mills and presses ; 17,531,000 Tea and planting 2.5C3,0C0 Banking, loan and insurance 5,324,000 — Trading and shipping 7,839,000 Mining and quarrying 5,654,000 Other, industries 1,938,000 ~ In addition debentures are represented by ail'issued amount of £4,89D,CK1. Nearly a third of tho capital of trading companies is invested in railways and tramways. _ In addition to the companies registered in India, there arc more than 300 concerns which carry on business in India, but are registered elsewhere. These have a paid-up capital of nearly £70,000,000 and debentures to the value of £43,000,000. Cotton and jute mills form the loading Indian industries, and those have shown considerable advances in recent years. In 1909-10 there were 215 cotton mills at work, with a capital of £12,C<!8.C<fl, employing some 74,600 looms, and nearly 6,000,000 spindles. Jute mills in the samo period numbered 60, representing a capital of £7,674,000, with 31,400 looms, and 646,000 spindles. Customs duty collected at the port of Wellington yesterday amounted to £6660 10s 4d. •PORTLAND CEMENT CO. (By Telegraph-Press Association.) Duncdin, January 26. Tho annual meeting of the Now Zealand Portland Cement Company was held today, Mr. P. Barr (chairman of directors) presiding. ' Tho directors reported that operations for the thirteen months ended November 30 showed that the net prolits were £10,861 6s. Sd., while the balance forward from last year was £772 Us. 3d. After deducting interim dividend of 4 per cent, on old shares, there was a balance of £6433 18s. The directors recommended a further dividend of 6 per (estimated to absorb £5560 Bs. 3d.); depreciation on plant and' vessels, £1900; and to carry forward £673 9s. 9d. The report cousratulated the s'baive- . holders on the satisfactory results for tho "year, notwithstanding that tho work 6 wore still incomplete. All the machinery and plant had been maintained in a thorough state of _ efficiency, and the directors did not consider that there was any necessity for heavy writing-off for depreciation. A third rotary kiln should be in running order by. the end of the month, when the output, it was expected, would be fully doubled.

The chairman mentioned that the profits for the year had benefited considerably from the fact that the low price contracts entered into some time ago had been running out, and more payable business had been substituted. I lie report was adopted, and the retiring directors and auditors were re-elected. CANTERBUItr GRAIN MARKET. (By TeleEraph—Press Association.) ' . Ghristchurcli, January 26. There is nothing fresh to report in the local wheat market. There .is a good'in. ciuiry for now oats, and the few lots offering find ready sale at current prices. There are but few white oats yet on the market, the offerings consisting of Algnriar.o and Duns. For prime lines of the former up to 2s. has been paid, but buyers aro generally offering Is. Ltd. to Is. lid., and down to Is. 9d., for lighter samples. A few lines of barley have been offered, and growers are aekijig prices beyond what buyers consider the value. It is reported that a line of prime malting has been sold at 4s. 6d. to go south, but 4= to 4s. id. are now the beet prices oEcred at country stations. BANK OF ENGLAND RETURN. By Telorraph—Press Association—Copyright (Rocoived January 2G, 8.5 p.m.)'" . London, January 2G. The Bank of England return issued for the week ended January 24, is as under:— ISSUE Note Issue... £50,468,000 Gov.debfc ... £11,015,033 Other Becuri 7,434,00n Goia 37.019,000 £58,468,000 £55,468.000 Bunaxa Departstkmt. rroprietora' Govt. securicapital £14,563.000 ties *15 270 000 Public d«- Other tccuri- ~ IO " |U ' OUU posits ...19.657,000 ties 32 070 MA Other doposits ... 39.214,000 Notes l >7.fi r >7 r/yi Rest, 7-day w , and other hilla... 3,493,000 Coin ... ... 1.025,000 £7f>,92'2,Q00 £76.022,000 Th« leading items of the Bank of Eneland return afford th© following comnarison This week Last week. Last year £ £ £ Btllllon 37.019.000 - 36.451.000 35,0-25,000 Reserve 'iS.fiSi.UOD 27,713.000 27177 (XX) Note circulation !J7.QU,OOJ •Ib.QU.tOO -27,'.!5i.iyj0 Public Deposits .10,607.003 IfI.OSuCOQ 11-243000 Other Deposits £9,\214/JOO 09,650.0(W il.Ogj/XX) Proportion of reserve to liabilities ... 48.70 48.94 61.89 GOVERNMENT SECURITIES. The following are the latest quotation for Government Eecurities. with a compariuon of those rulinp last week:— Variations — compared Price, with last wcok. £ *>. d. ' Imperial Consols 57 7 (i UncVmneeil 4 N.S.W. 1933 Jan.-July 105 10 0 UiXK 34 „N.SAV.II)I3Mar.-Sep. poo f. uie a "o 3 N.S.W. lU:i5 Aul.-Oi'tJ 87 0 0 uSffi*' 4 Vic. WaiJan.-July | 101 1U U C' "c »iS 3! Vic. lO'l-fi luly | SI,I io 0| One an red 3 ~\ic.l!KU-49.1an.,1n1y! B) 111 0' .S , 35 ..B.A. 1018 Jan.July : 0! .) «; u,,cM J ,b.A. IJIO Jan.-July ; M o o u„ 4 QTdMvJt Jan-July 1(K 0 U, t'uu at ul"a J , T CJ I (I l'.fcJ-i-iTJuu.-July: St JU U Um-liau'o, 4 ..N.Z. Mi) May-Nov. ! 10". 11 „ L'ni'm u -1 3i „N.JU!HO,Ian.-,luly | 07 111 o Un m -. 3 „X.Z. l!Mr. A|iril-Oct. h7 10 0 Unthnni'cd 3j W.A.IiHMO.May-Novt W 10 {) tj clmn-'orl a ..W.A.IUIiVSSMay-Sov b7 U t) Unrli miP:" I -j ~ 1,15. I'.'iO.lan,-July I'D o u His low,>r a ..Tag.litiiMj Jan.-Jnlyl M 0 u Uncl'iiiiiiinl DANK HATES OF DISCODNT. The Haul; of England rato was, or, December t, 1910. lowered from 5 to 4J jitr cent.; on January 27 it was lowered to 4 per eenl.. on February 16 to 3} per cent and on March 'J to 3 per cent. On September 21 it was advanced to 4 tier cent. The Ilank of I-Vance rate was reduced from 5S In J per rent, on Jnnwirv 25. 19(;8 and continued at the latter fiKiire until September 21 1911, when it was raised to 3J per cent. The Imperial Bank of Germany reduced its rale from 5 to 41 per cent, on February 6, and on February 19 thn rato wan further rtaur»d to 4 per cent. On Btip. Uahft 15 tta rtiU th railed to 5 sex cart.

IIAEKET BATES OF DISCOUNT. The following are. the market rates for best three months' bills:— London Parla Berlin rate. rate. rate, per cent, percent, percent. This week 311-16 3 3J Last week 33 38 3 Last year 33 21 3J Short loans arc quoted at 33 per cent., as compared with 3J per cent, last week, and 33 pel- cent, last year. . COLONIAL AND OTHER .PRODUCE. Wheat.—Tlie markets are quiet, and buyers are indifferent.' The preliminary official estimate of tlio Argentine crop is 4,642.000 tons. 375. 6d. is asked for South Australian, November shipment; 375. 3d. for .March shipment; 375. 3d. for Victorian loading; 365. 3id. lias been paid for parcels Australian January-February shipment. There is a Rood demand for Australian, on spot, at *Ss. Flour is steady. Australian patents, cx store, 255. 6d. Oats are nuiet. La Plata, January-Febru-ary shipment, lfe. 6d. liuttcr.—The market is dull, and buyers have abstained from purchasing to the ut- ! most possible limit. Choicest Australian, ! 1265. to 1285., occasionally 1305.; New Zealand, 130s. to 1345. Some Victorian and Now South Wales butters are showing signa of heat at tlic time of manufacture. Cheese is quiet. Sew Zealand, 725. to 73e. Bacon.—There is a fair demand for Australian at 44a. to 50s. Sugar—German BS per cent., net titre, sa. lower at 15s. 2d. per cwt.; first mark granulated, f.o.b. Hamburg, Id. lovrer at 17s. 4d. ■ Bradford Tops.—The market is dull, and the prices are unchanged. METAL JLAEKETS. By Telegraph—Press Association—Copyright London, January 25. Copper.—On the spot, £<i 2 7s. 6d.; three months, JEM 3s. 9d.; electrolytic. £65 15s. Tin—On the spot, £192; three months, £190. Lead, £15 .13s. 9d. per ton. Silver—Bar silver is quoted at 26 9-16 d. per ounce standard. London, January 26. Copper, on spot, 13s. 9d. lower at £62 2s. 6d. per ton; three months, 30s. lower at £62 2s. 6d.; electrolytic, £65 7s. 6d. Tin, on spot, 50s. higher at £194 per ton; three months, £3 15s. higher, at £192. Pig-iron, 3d. lower at 495. per ton. Wolfram,' 295. 3d. Lead, soft foreign, £15 12s. 6d. per ton. Spelter, £26 10s. per ton. AUSTRALIAN PKODUCE MARKETS. By Telegraph—Press Ae^ociation—Oopyricht „ Melbourne, January 26. Wheat, 3s. Bid.; flour, £8 10s.; Oats, Algerian feeding, 3s. to 3s. 3d.; seeding, 3s. 4d. to 3s. 6d.; barley, Cape, 3s. 9d. to 45.; maize, 4s. 3d.; bran, £5 10s.; pollard, £5 155.; potatoes, to £5 155.; onions, £6 to £8 Sydney, January 26. Owing to the dry weatlier most of the produce lines are stron? with prices advancing. Wheat., 3s. BJd. to 3s. 9d. Flour, new, £8 155.; old, £9. Oats, Algerian, 2s. lOu, to 35.; Giants. 3s. sd. to . 6s. Barley, Cape, to 3s. 9d.; English malting, 4s. 6d. to ss. Maize. 4s. 4d. to 4s. 7d. Bran, £5 10s. Pollard, £6. Potatoes, £4 to £7 ss. Onions, £12. Butter, selected, 1265. per cwt.; prime, 106s. to 1145.; cheese, 6Jd. to 63d.; bacon, 51d. to 7d. Adelaide, January 26. Wheat, 3s. Bid. Flour, £8 12s. 6d. Bran and pollard, 14d. Oats, 2s. 9d. LONDON WOOL SALES. PEICES REALISED. By Teleerajh—Prcas Association—Oopyrtglil London,' January 25. At the wool sales, the following prices were realised for the clips named:—"RaUaitai," top price lOjd-, average lOd.; "Teviotdale," top price, 13id.; average 13gd. SALES POSTPONED. London, January 25. The wool sales have been postponed owing to fog. INVERCARGILL WOOL SALE. (By Telegraph—Press Association.) Invercargill, January 26. The first wool sale of- the season was hold to-day, and was largely attended. Prices compared wsll with tnose ruling in northern centres, and were well maintained. In many instances growers obtained more than they expscted. Compared with the lost Dunedin sale, to-day's sale was entirely satisfactory. ' England, America, France, Germany, and New Zealand were represented by buyers. Of the 15,200 bales olfered—a record .for Southland—v;ry ' few were pafcscd in, and most of these, were subsequently •> ■. disposed, of. , Competition was animated, and there was no sign of dragging throughout the day,' the American buyers competing keenly. Well-bred and conditioned hogget 'wool was most in demand, and ranged from lOd. to lljd. Pieces wsre also strongly competed for, and realised as much as 9Jd. The top price of the sale was 12d. for three bales of halfbred sold on account of Mr. Donald M'Konzie, Dipt,on. The average prices ruling to-day compared with thOEO of January of last year are as follow (the 1911 figures b?ing shown in parentheses):— Merino, super to good, lid. to 10Jd. (—)• good to medium, lOd. to 9d. (9Jd. to 83d.)medium to inferior, BJd. to Bd. (—)• halfbreds to good, 12d. to lid. (-); good to medium, 101 d. to 10d. (lljd-: to' lOd.); medium to inferior," 9y. to 9d. ~(9Jd. to 8»d)fine crossbreds, superior to good. 113 d! to 10id. (10|d. to lOd.}; good to medium, lOd. to 9Jd. (9Jd. to BJd.); medium to inferior, 9d. to Bd. (73d. to 7d.); strong ■ crossbreds, superior to good, 10d. to 9d. (9d. to Bd.)'good to medium, 9d. to Bd. (Bd. to 7d.); medium to inferior. 7id. to 7d. (61d. to 5d.)