COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1396, 23 March 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. The sales recorded yesterday were Weiliiigtoii Gas (£10) at £18 7s. 6(1.. N 7. Shin ninp at £13 135., and Whitcombe "rid Tombs, at £6 10s. The huyin? and scllinr quotations were as under:— Buyers. Sellers. £ a. A. £ q d National Hank 5 17 0 — Ohristclnirrh Can — 9 5 0 Gisborne Gas ' — 2 18 n Wall Gas (£10) 18 2 6 is ? 6 Meat Export (53-t. 6(1.) ... 2 18 0 2 19 0 N. 7,. Shippine 13 13 0 _ Union Steam 2 16 _ lluddcrt-Parker (10.-.) ... 014 0 Well. Woollen ford.) — 3 16 6 Well. Woollen (pref.) — 3 0 0 Wci-tport Co.'il 16 9 _ Torinpanintu Totara 2 7 0 2 9 (1 C. M. tenbi. Lid - ] r, J} Crown Brewery — 1 15 0 jlonasrliy V.ope and Twine — J *> 6 Golden Bay Cement 14 6 Jfiuininc and Co — 4 11 0 K.V.. Con. Denial - i | ) N.Z. Urns — 211 6 Slinrluml'x ordinary -- 14 6 Ward and Co., Ltd — 5 4 3 Whileombe and Tombs ... 6 9 6 — W.F.O.A. (£5) - 7 5 0 LONDON WOOL SALES. According to raMe msaimstJH rweWstf by lofiai .woolhxaJisai tkoto us to to culj

nve scries of sales in London this year, i instead of the usual six. and thia, of I course, is due to tlio coal strike The second series was 10 have begun on March 5. hut was postponed until April 11. The third series, which was fixed to befcill on April 30, is abandoned, and tlio July safes liet'oma tlio third series this year This disturbance means tliat there will he a congestion of wool, which must affect the prices, and furthermore -trade is dull in America, owing to its heme the Presidential year, and that will have a. bad effect ou wool values. Customs duties collected at the port of Wellington yesterday amounted to £1253 3s. )od. BANK OF ENGLAND HETUKX. By TeleEraph—Press Association—Copyright (Jleceived March 22, $.30 p.m.) London, March 22. The Bank of England return issued for His week ended 'Wednesday, March 20, is as under:— Issue DEPAnnrr.NT NctelSEUO... £ 55,310,000 Gov. debt ... £11,015.003 Other secuii tioa ... ». 7,«34,00n Gold SC.BOI.OCO £55.310,000 £55,310.000 BiSKKO DEPARTMENT. Proprietors' Govt, securlcapital. £11.553,000 ties £14,253,000 Public do- Other securiposits ... 31.937,000 ties «,509,000 Other deposits .., 41,007.000 Kotej , .„ 27,233X00 Rest, 7-day and other Mis... ... 3.762.000 Coin .- _ 1,181,000 £51,019.0 M £61,919.030 The loadlne; items of the Bank of Ensland return aCord the following comparison:— Thisireok IJastwoak. East voir £ £ £ Bullion SC.&iI.OOO 36,571,000 80.&;7,000 Reserve 28.7:i7,i«J 23.31i.UX) 3U(l'j,ol» Note circulation 25.057.00J Sfi.iiit.aia U7.307,c0a l'ublic Deposits 24.807.WH 23,771,09) 2i.7j'1.000 OtherDuposils iI.CO7,tXW 43.590,003 II.J.jI.L'OJ l'l-oportioii of reserve to liabilities ... 43.13 42.00 4G.G9

GOVERNMENT SECURITIES. The following aro the latest quotation) for Government Eecuritiea. with a comparison of those ruling la3t week:— Variations — couipa'Oil Trieo. with last week. £ 5. d. 25% Imperial Consols) 77 13 U 7s. fd. lower i ~N.5.\Y.1033,!:m.-July 10510 0 Unchanged 3> „X.5.W.1U13.Ua.r.-Scp.i 93, 7 Ii iffs liu hiiiliur 3 .N.S.W.mj Apl.-Oct. 57 0 Oi Uneimnwd ■1 .Vic. I'JilJiin.-Juiy 101 10 0! Unc'mimiod 3A „ Vic. I'JJI-U .liui.-July ua 10 0] Urdmnscrt ii „ Vie. lfri'WOJan.July St 10 nl Unch&nce 1 ilj ~S,A. ]gi«,lim.,7uly , 97 0 (! Ul'.clmMcJ 3 ,S.A. UltiJan.-Jllly K5 0 0 ITnelmußOd j l ,Q'l'drjlJ-2)Jan.-,luly 102 10 0 UnclmuKcd ii ~o'i'ilW2!-iOJ:in..July SUM 0 Unchanged J ..QTdlMitf Jan. July Si 0 0 Unchanged ; ..N./.IDJDMny-Xov. 101 0 0 Uuchatwcd Ju „N.Z.l!Mi)Jnn.-July 07 0 0 U chanced 3 ..N.Z.Klr.April-Oot. Mil) 0 UncbimKed *i„ tt.A.l9-4)-ioJlay-Sov ■13 10 O Uncli need i, ..}).A.lMf>-SDMiiy-Xov W 0 0 Unchanged *> ..las. IMOJan.July I'll 0 0 Unchanged d ..las, lu-il-n Jan.July! (5 I) 8 Unchanged BANK KATES OP DISCOUNT. The Bank of England rate was, on December 1, 1910, lowered from 5 to 4 per cent.; on January 27 it was lowered to 4 Dor cent., 011 February 16 to 3J per cent., and on March 9 to 3 per cent. On .September 21 it was advanced to 4 per cent., and on February 0 it was reduced to 3J per cent. The Bank of France rate was reduced from 35 to 3 per c.;nt. on January 23, 1908, and continued at the latter figure until September 21, 1911, when it was raised to 3J per cent. The Imperial Bank of Germany reduced its rate from 5 to 41 per cent, on February 6, and on February 19 the rate was turthcr reduced to 4 per ,cent. On September 19. the rate was raised to 5 cor cent. MARKET KATES OF DISCOUNT. The following are the market, rates for best three months' bills:— London Paris Eerlin rate. rate. rale. percent, percent, percent. This week 5 9-115 31 43 Last week 3 9-16 31 4:1 Last year 2 5-16 21 3j Short loans arc quoted at 3J per i'3nt., as compared with 31 per cent. last week and 3 per cent, last year. COLONIAL AND OTHER PRODUCE. Wheat.—The markets generally are firm, and buyers show more conlidcuce, and there is Rood inquiry. Australian cargoes sold at 375. 9d. and 38s. respectively; holders are asking 335. 3d. for Victorian, per sailer January .shipment; 3Ss. 3d. has been paid for a parcel from three ports now afloat. There is a small trado passing in. Australian on spot at 40s. 3d. Flour is firm and unchanged. Oats.—Tll3 market is strong. La. Plata, March-April shipments, 17s. 6d. liutter—The market is dull at 1355. to 138?. The bulk of colonial arrivals is 01 secondary quality, which meets with a slow demand at ItSs. to 1225. The few parcels of choicest offering sell readily. Australian. 124-. to 1265.; unsalted. 1265. New Zealand, 1265. to 1285.; unsalted, 130s. Cheese—The market is firm. New Zealand, 755. to 755. 6d. Sugar.—German beet, 83 per cent, net 15.ru, .Id. lower at Ms. lOd. per cwt.: first marks, granulated, f.o.h. Hamburg. 17s. Id. Bradford Tops.—The market is stagnant, and prices are unchanged. METAL MARKETS. Copper.-On spot, 225. 6rt. higher fit £66 per ton; three months, 225. 6d. hishsr at £65 155.; electrolytic, .£63 15s. Tin—On spo:, 15s. lower at .£l9O ss. per ton; three months, 10s. lower at £167 ss. Load, soft foreign, .£l6 ss. per ton. Pig-iron, 9d. higher at 575. 6d. per ton. Spelter, 2s. 6d. lower nt .£26 ss. per ton.. Silver—Bar silver is iwotjd at 26 13-16(1. per ounce standard. LONDON MARKETS. The New Zealand Loan and Mercantile Agency Company. Limited, have received the following cablegram from their London house, under dale March 21:—Sheepskins: Sales fixed for March 29.

NEW ZEALAND DRUG CO. (By Telejraph.-Press Association.) Dtinedin, March 22. The annual meeting of tho N.Z. Drug Company was held this :if;ernoon, J.)r. Win. Drown (chairman of directors) presiding. Tho annual report stated that tho list profit for the year was £19,201 175., balance brought forward £7027 19s. 3d.; to.al, £26,329 16s. 3d. An interim dividend absorbed £7578 125., fearing £18,751 4s. 3d. to lie dca.lt with. The directors recommended the payment at 7 per cent, per annum for the second half of ttio past year, £/93S 15s. 7d.; writing off Wciifield plant (Aucltland), .€500; writing oft' Wellington fixtures, £250; writing off Wellington building, £750; placing to tho General reserve (this reserve, with £3750, to ho transferred from share premium account will then stand at £30,000), £1250- and to carry forward to next year, £8064 Bs. Bd. On the motion oj the chairman, tho report and balance-sheet were adop-cd Dr Ogston and Jtr. W. F. Edmond were reelected directors, and the auditors were reappointed. VICTORIAN PRODUCE MARKETS. By relecriph-Prcss Association -Copyright Melbourne March 2' Wheat, ss. 9Jd. to 3s. 10d.; flour, £8 10% • bran, £5 155.; pollard, £6 55.; barley, Cap- 1 ' ss. '.o ss. 3d.; oats, Algerian, 3s. 3d. to 3=' 4Jd.; feeding, ss. lid.; maize, 4s. 3Jd' : potatoes", £5 10s. to £6 10s.; onions, £8 10s' to £8 15s. GRAIN AND PRODUCE. Br Telegraph-Press Association.! Chrlstcliurch, March 22. There is a somewhat easier tone in the wheat, market, though prices have not yet been appreciably affected. Millers h.iro now laid in considerable stocks, and a, disquieting element in the nmrke: is a report that 10W! tons of Australian flour are raining into Auckland, and will bo landed at the same price as South Island flour. There has been a fair quantify of wheat on offer, and sales have been made as usual at 3s. 4d. to 3s. sd. at country stations. The oat market continues without change, there still being a demand, though at present no export outlet exists at pr:.-:cnl prices. Algerians arc reported to be scarce, and are being more keenr; inquired for. Chaft is somewhat llrnicr, the quotations now being £2 10s. to £2 155., but with little business doing. Early varieties of potatoes have advanced, and are now quo.ed at £2 15s. to £3 at country stations. There Is also a rise in the price of onions, tho rates now being paid being £5 10s. to £5 15s. at country stations. The crop is late this year, and on account of the wet weather the condition is no- as good as usual. It is estimated that tho crop in the Dominion will only be sufficient for local ro(;iiirenicii'.-s. Except for one small lot there has been no export to Australia Ibis season, as the onions have not been in a condition to ship. There is a considerable shortugo in ;he supply of grain sacks, the weight of crop not having been anticipated when the orders for the season's requirements were given. A shipment. IS oxtieeud to ninve from Calcutta in about six weeks' time. Second-hand sacks have been imported from Sydney and rrom the North Island, and the.'.?, in addition to tlmso available locally, have had to be nut into u*q tj fill requirements. New sacks ■ have advwiced to •«. por dozen, Bad full-sliod _jccoiid.2iaad sacks to It. i^