COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1431, 4 May 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT .SHARKS. Bank of New Zenland shares sold at £11 10s. yesterday, whirh is a, remarkably court price. The bank has had a good year, and probably there is an expectation of an increased dividend. The buying and Helling .quotations were as under:— lluycr?. Sellers. £ s. il. S s. d. National Dank — 6 2 6 Krniititblc Huildiiis 1(1 0 I) - X.Z. and Hiver I'lntc 2 0.0 Well. Deposit - 0 7 S Well. Git- i£10) IB 7 6 Union Stsam 2 7 (1 ?. 10 0 Taupiri Goal - I l o rinylnnd-O'Brion - l B 9 T«j|ngvnutu Totara — 116 flolitaa B*i Ctmant _ - 1 1 I

P. AND 0. SHARKS. Dealing with the various reports regarding amalgamation and negotiations, the "Financier" of March 22 wrote:—"Two tilings may be said—one positive and the other negative. Taking the negative first, no sort of -scheme for iimalgamation is being considered, and the management is merely interested 'in an academic way in tho rumours of a shipping deal. The positive fact is that the latest modification of the charter under which the V. and O. carry on their business gives them specific powers to exercise discretion as to tho registration of new shareholders, and also no shareholders are to 1)3 registered who aro aliens. Now one of the theories fiying nbout is that a strong group of capitalists is making a determined cn'ort to gain control of the P. and O. Company; consequently, tho management are keeping a wary eye on the registration and transfer books. As this is only what might be e?cpected by any capitalists having serious intentions of this sort, the fact that such difficulty would almost certainly stand in the way of new control is of itself almost sufficient to dispose of the rumour. Tho P. and O. charter would not be overlooked in such an attempt." LINSEED OIL. The extreme variations that have characterised market quotations for linseed oil for many months past have been a puzzling feature for importers. On the whole the trend of values has beer, in favour of producers rather than of users, a fact which becomes rather difficult to account for in view of statistics relating to tha world's production of seed which havo been compiled by "Dornbusch." Theso serve to indicate that tho linseed harvest of 1911 ranked in quantity next to the record year, 1907, when 2,763,445 tons was tho weight gathered. Last season's outturn, according to the authority mentioned, represented 2,673,050 tons, or a. gain of 28 per cent, on the yi'ld for 1910. An element of strong doubt surrounds the estimates of the output of Argentina, one cable messago recently reporting a decrease of Romcthing lil>2 100,000 tons in that country. The figures given for the South American republic by "Dornhiisch" are 638,000 tons, but this official estimate was accepted most hesitatingly, and was published in the compilation with the cautious qualification that "Argentina, despite a. record acreage, unfortunately again proved more or less a failure, and we havo yet to learn whether tho official estimate of 638,000 tons can even be relied upon." The total production for last year included 657,800 tons from India, a crop which has been exceeded never praviously since IM4, when 571,832 tons comprised the yield. Russia's contribution continue:! steadily to Increase, amounting in 1911 to 670,000 tons, ns against 650,000 tons in 1910. North America is officially reckoned to havo yielded a crop 170,000 tons better than in 1910, but. commercial authorities are of tho opinion that the excess is barely 70,000 tons. Canada is officially reported io have trebled the previous record, but, a good proportion being under snow when the estimates were made, tho actual quantity has yet to bo defined.

WHOLESALE PRODUCE PRICES. Messrs. Laery and Co., Ltd., Wellington, report wholesale prices as unOcrt-Oits, Algerian, 3s. 3d. to 3s. 7d. per bushel; oats, dun 2s. lid. to 3s. Dor Ijusncl; oats, short 2s. lOd. to 3s. per bushel; wh?at (fowls), 4s. 2d. to 4s. 3d. per bushel'; maize, ss. lid. per bushel; barley. Cape 3s. iOd. to 4s. per bushel; fowls' barley, 3s. 8:1.; malt, 7s. 9d. per bushel; peas, partridge, 4s. 3d. per bushel; peas, Prussian blue 7s. per bushel; linseed nuts, 13s. per cwt.; crushed linseed cake, 13s. 6d. per nvt.j whole linseed, 18s. per cwt.; pollard, £7 10s. per ton; bran, £5 15s. to £6 per ton; flour, Atlas £9 lis. 6d. per ton; oatmeal, £14 per ton; chaff, oatensheaf £5 per' ton (saelts in); baled straw, £2 10s. to £3 per ten; superphosphates, £4 lCs. to £5 per ton; basic slag, £4 per ton; rolled oats (4's), 9s, per dozen; rolled oats (20's), 40s. per dozen; potatoes, £6 to £7 per ton; onions (prime), £8 IDs; to £9, medium qualitv £4 to £6 per ton; eheese. medium size, new 7d. per lb.; cheese, medium sizs, 7d. per lb.; cheese, loaf 7|d. per lb.; fresh eggs, 2s. per dozen; preserved. Is. 3d. to Is. 4d. per doz.: butter, pVimc nulled Is. Id.; bacon, Swan brand, rolls I0?d, lb.; bacon, Swan brand, sides 9Jd. psr lb.; hams, Swan brand, 9jd. per lb.; shoulder, Swan brand. Bd. per lb,; honey, bulu 4d. per lb.; lard, bulk, 6d. per lb.; hens, 2s. 6d. to 3s. per pair; roosters, young, 3s. to 4s. per pair; ducks, 4s. to ss. per pair; turkey gobblers, 9d. per lb. dead weight; turkeys, hens, Sd. per lb., dead weight. CUSTOMS DUTIES. Customs revenue collected at the port of Wellington yesterday amounted to £i 044 19s. lOd. SOUTHERN GRAIN MARKET. IBy Telegraph—Pr«s Aisociatlon.l ChHstchurch, May 3. There is no change to report in the wheat market, eicept that there is not such a koen demand for immediato exports. At the same timo there is a good speculative iuouiry. The offerings of oats have fallen off, farmers now holding more firmly iu consequence of the advance in prices. The Southland oats harvest is not yet finished, and the late season thors has resulted in deliveries by rail being only 101,945 socks, as compared with 468,400 sacks up to the same date last year.

BANK OF ENGLAND RETURN. bj Teleirra.Dh— Press Association—Oopyrleht (lio;«ived May 3, 8.45 p.u!.). London, May 3.' The Bank of England return issued for the week ended Wednesday, May 1, is as under Issue Department Note Ibsud ... £3fi,717i000 Gov. debt ... £11,015,003 Other secnrl ties .... 7,434,000 Goli 58.2C8.000 £56,717 .COO f31i.717.CC0 BiNXJXa DSPAntMENT. Proprietors' ' Govt, securlcapital £14.653,000 ties £14,155,000 Public da- Other securiposits ... 18,048.000 ties 35,979,008 Other deposits ... 41,340,000 Notoi ■m< 27,(357,000 Best, 7-day arid other hills... ... 3,852.000 Cain ... 1,401.000 £77,103,000 £77,103,000 The leading items of the Bank ot England return afford tho follonine comparison Thiswesfc List week. Last ro»r Bullion 33.263.000 33,103.030 36.757.000 Rosorve 29,061.000 •JD.aW.UOU a>.HS:,,ooti KotecircoUUon a9,OGO.ttK) M.640.0W SB;i4t.OOO Public Deposits 18.04a.iWj IH,3*I,OUU Other Deposits 41,310,000 41.55.'«0 Proportion of reserve to liabilities... 49.01 48. M 47.80 80VEKNMENT SEOOBtTIKB. The following aro the latest qu»Utlom (or Qovernment tccuritiei. with » com. pirlaon of thou ruling last vteek:-

BANK HATES OF DISCOUNT, The Bank of England ratg was, on D-s----comber 1, 1910, lowered from 5 to 4J per cent.; on January 27 it was lowered to 4 per cent., on February 16 to 31 per cent., und on March 9 to 3 per cent. On September 21 it was advanced to 4 per cent., sad on February S it was reduced to 35 per cent.

The Rank of Franco rale was redueed from 3* to 3 per c.;nt. on January 23, 1908, and continued at the latter figure until September 21, 1911. when it was- raised to 3* per cent. The Imperial Dank of Germany reduced its rate from 5 to 4J per cent, on February 6, and on February 19 the rate was lufthor reduced to 4 per cent. On September 19. tho rate wbs raised to 5 per cent. MARKET RATES OF DISCOUNT. The following ure the market rates for best three months' bills:— London Paris Berlin rata. rato. rate. percent, percent, percent. This week .3 3 33 Last week 3 5-16 23 3j Last year 25 25 2j Short loans arc uuotcd At 25 per cent., as compared with % per cent, last week and 2 per cent, last year. COLONIAL AND.OTHER I'ItODUCE. Wheat.—The markets are very dull, and there is no inquiry for cargoes, though c pllers are uiostiv willing to accept a reduction; Ms. 6d. is asked for South Australian, February .shipment.; 395. 9d. for April shipment, 40s. 3d. for Victorian, and New South Wales February shipment; 395. 9<l. for March shipment, and 395. for parcels April-May shipm?nt. There is little inquiry for Australian on Epot at 435. Flour is quiet. Oats—Tho market is quiet.- La. Plata April-May shipment, 17s. 6d. Butter.—Danish butter is Tory dull o.t 113s. to 1153. Colonial is slightly firmer; choicest Australian, 104s. to 1065., occasionally 108s., unsaltcd 110s., secondaries 100s. to 102 a.; choicest New Zealand, 110s. to 112b.; unßalted, 114s. Chooss is steady at 695. to 71s. per cwt. Sugar, German beet, 88 per cent, net litre, 2d. lower, at 13s. 5d.; first-mark granulate ed, f.o.b. Hamburg, Id. lower, at 16s. 9d. Bradford Top.—The market is very firm, and business is restricted; all counts have advanced a. farthing p?r lb. THE METAL MARKETS. Copper—On 6pot, 12s. 6d. lower, at £69 12s. id. per ton; thrco months', 6s. higher, sit £70 7s. 6d.; electrolytic, 30s. lower, at £72 15s Tin.-On spot. £7 10s. higher, nt £211 10s. per ton; three months', £7 ss. higher, ct £207 10s. I'ig-iron, 1(1. lower, at 545. Id. per ton. Lead, soft foreign, 2s. 6d. lower, at £16 10s. p;r ton. Spelter, 2s. 6d. lower, at £25 15s. per ton. i Silver—Bar silver is quoted at 2Sjd. per ounce standard. DALGE'iT AND CO., LTD. The superintendent of Messrs. Dalgety and Company. Limited, has been advised by cable that an interim dividend of 4s. per share, equal to 8 per cent, per annum, hns been dedarsd. This will be payable to shareholder; on the colonial register on and after May 15. AUSTRALIAN PRODUCE MARKETS. By Telejrapii—Prors Aiwiation—Copyright Melbourne, May 3. Wheat, 4s. <d. to 4s. 4?d.-. flour, £9 5«.; oats, Algerian feeding 3s. 6d., seeding Js. Bd. to 3s. 10'.!.. white is. 5d.: barley, prime English 6s. 4£d., Cape 4s. lOd. to 55.; maize, 4s. Bd.; bran. £6 155.; pollard, .£? 55.; potatoes, £7 to £8 55.; onions, £H ss. Adelaide, May 3. Wheat. 4s. fc> 4s. lid.: fiour, £8 17s. 6d. to £9 ?.a, Gd.; bran, Is. sd. to Is. 6d.; pollard, Is. 6d.; oats, 3s. 2d. to 3s. 3d. LONDON MARKETS. Messrs. Dalgety and Company, Ltd., Wellington, have received cabled advico from their London office, under date May 1, in reerard to the following markets:— Tallow.—The market is firm, and will probably advance later on in tho year. Mixed good to prime, 6d. to 9d. per cwt. higher. Other descriptions, 3d. to 6d. per cwt. higher. Low and inferior dsscriptions are unchanged. Frozen Moat.—Lamb and beef are likely to remain firm, owing to light stocks, but mutton is weaker, and the market dull, but. there is no ouotable change. Quotations ar3:-Beof: Prime ox fores 31d., hinds 4d. Lamb: Prime Canterbury, heavy and light, 53d.; North Island, heavy and tight, 5Jd. Mutton: Prime Canterbury, heavy and light, 4>d.; North Island, heavy, 3 3-Bd.; light, 4d. LONDON WOOL SALES. By Telegraph—Press Association—Copyright. London, May 2. There was a good sale. Prices are unchanged. (Rec. May 3, 11.5 p.m.) , London, Ma? 3. The following prices wci-3 realised for the fleece portions of the clips named:— "Stoneyhurst," top pricti 14d., average 12W.; "Oamaru," top 115 d„ avcrago 93d.

i Variation _ con)p«iecl Prlci. with ____ l_ last vrook. ' j £ ». d. 2i% Imperial Consols I not quoted 4 K.S«W.1933Jttn.-Julyi 10o 10 0 Unchaufind 3i „N.S.W.1918Mar.-Sep.j PS 10 0 Vnchantiod 3 ,N.8.W.1935 Api.-Oct. fiG 0 0 Unchanged 4 ,,Vic. 1920 Jan.-July 102 0 0 Unchanged 3} „ Vic. IChil-o Jan.-July 83 10 0 Unenancod 3 Vic.lS-29-49Jan.-July 8t 10 0 Unchanged ai ,.S,A. 1916 Jan.-July 97 0 0 UtiL'han«cd 3 ,S.A. Iul6 Jan.-July bs 10 0 Unchanged 4 „Q Tdl913--4 Jan.-Julv' XGi 10 0 Uuclis'iKcd Zh „Q*rdlW!-30Jan..Ju!y! 06 10 0 Unchanged 3 ..QTdUttMTJan.-Julyj 8 4 0 0 U. chr.'itfod 4 K.Z. 1929 May-Sov. ! 102 10 0 | Unchanged 3} „Is.Z. 19-10Jaa.-July | 07 0 0 : Unci) lifted 3 „N.Z. ll ; 4f. April-Oct. i fc6 10 0 j. Unchanged 3i\V.A.10-2(M0.tfay-Xov| Vi 10 o' Unchanged 3. „ \V.A,i915*35May-Nov] kC 0 0 I Unchanged iJ3 „ Tas. 1940Jan.-July S6 0 0 i Unchanged 3 „Tas. 102J-10 Jan.-July. b5 0 01 Unchanged