COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1443, 18 May 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES A sale of Wellington Gas, .£lO paid, at £16 55.. was the oniy transaction recorded yesterday. The buying and selling quotations were as under;— Buyers. Sellers. £ s. d. £ s. d National Bank — 6 2 0 Well. Trust and Loan ... 7 12 6 — Meat Export (525. 6d.) ... — 3 0 0 Union Steam 2 9 0 2 12 0 Well. Woollen (prcf.) ... — 213 0 Taupiri Coal 113 — Westport Coal — 1 10 0 Leyland-O'lJneii — 18 6 Taringamiitu l'otara 2 7 6 — Golden Bay Cement — 14 0 Sharland's ordinary — 13 3 Sharlaud's preference ... 1 3 0 — THE EMPIRE'S SUGAR. A sneoial article in the "Times" supplement gives some particulars of the extent to which the British Empire contributes to the production of sugar. It deals also with the position of cane sugar in relation to beet. The iigures show that since the abolition of the bounties, in 1903. the rate of growth in the whole world's production has diminished, the diminution bsing rather larger in proportion in beet than in cane. Since the bounties were abolished the production of the British Empire, if India is included, appears slow, but if India is excluded there is an increase of 17.2 per cent. The abolition of the bounties appears, however, to have stimulated cane production more in foreign countries than ill the British Dominion. Particulars arc:— World's Production of Sugar. 1890-96. Beet (tons). Cane (tons). 25,630,000 34,217,000 1897-1903. 38,400,000 Increases *40,215,000 12,770,000 *5,988,000 (equals 49.9 per cent.) (equals 17.5 per ccnt.) 1904-1910. 45,500,000 Increases 52,000,000 8,100,000 11.785,000 (equals 21 per ccnt.) (equals 29 per cent.) 'Exceptional reduction of about 5,000,000 tons owing to the Spanish-American war.

The position of the Brussels Sugar Convention was stated in the llousc of Commons on Jlarcli 18 by Mr. Acland, who in answer to a question informed tho House that at. a meeting of the International Sugar Commission held at Brussels, on March 17, a protocol prolonging the convention for a further period of five years from September 1, 1913, was signed. A declaration relative to the method of distribution of the additional 50,000 tons of sugar which Russia is to be allowed to export during the periods of 1912-13 and 191314 was also signed at this meeting. Neither document was signed by the British delegates. but a Note was addressed to the Belgian Government suiting that his Majesty's Government saw no objection to the increase in Russian export in this or anv future year during the continuance of "the convention. In reply to a further nuostion, Mr. Aclaiul slated that the United Kingdom was represented at the meeting, but was not committed in any way to the convention.

Customs duties collected at the port of Wellington yesterday amounted to £1765 9s. 3d.

CANTERBURY PRODUCE MARKET. (By Telegraph— Press Association.)

Chrlstcliurcli, May 17. There is no change to report, in tlio local wheat market, exespt that tho general tone is easier. Growers are ofi'ering very little wheat, and asking from Id. to 2d. per bushel above quotations, whilst on tho other hand buyers are not keen to operate even at Into rates. In the absence of cheap freights, the London niarktt does not warrant purchases being made at present prices, and, therefore, growers' ideas of va!ue arc not acceptable. The oats market is lirin, with very little doing, as offerings are snirr?. Trices remain without plianpr. Oatshc-iif chaff is also selling at late rat£B. The potato market is ill a rather uncertain state as regards prices. Seine buyers ore not offering more than £4 10=. or £4 15s. on trucks, and strowsrs are not willing to sell nt less than £5. A fairly largo Quantity is otTorinir, tuid not a crrcnt. doal oJ busißOss is doLue, u moickanU

arc desirous* of getting rid of I.lm Merits on hand, no trucks being available except for direct shipment. Thera is no a»tei<»t.ion in onions-, which remain :u .18 to A;. LONDON MAJtKKTS. Messrs Dalgety and Company, Limited, Wellington, have received :i. cablegram from their London office, dated May 16, as follows:— Frozen Meat.—Lamb: The market is very firm and, since our last cablegram, prices :uv» >.d. per lb. higher. Mutton: Prices are Ad. higher for light-weighty Other descrintions arc unchongcd, aun trie niaiket is tirm. Frozen beet: There is an smlirovcd demand. at. iiiielinnircii priios. J allow: I'lin market Is i|iiiol. Prices arc at times 6(1. per cwt. less.

BANK OF KNGI.AND RETURN. iy Tclccraph—l'ress AssomUon-CopyrlcM (I!ccciv«fl May S-'-O p.ni.) London, Mar 1". 'j'hc Hank of Knsland vol urn for (ho work ended Weiluchiloy, -May 13, is us untlpr:— ISSOK DEPAnTMEN'T Kote lisno ■.. X5ii,710,000 Gov. dobt ... £11,015,030 Othor socuri tioa ... WM.OOO Gold 33.291.000 £18.7*0,000 X 56.740.000 Btsaiso Department. Proprl#tota' Gevt. tecuricapital £14,653.000 tios £14,155,000 Public do- Other ueciii'l- - ... 16.770.000 tics... ... 5j.531i000 °iiosfu a ... 89.5Ef1.000 KoUi «. 27.057,000 Best, 7-day and other bills ... ... 3,£73,000 C01a... - I.Bta.OQO £74,185,000 474,1 M,OOO The leading items of the Bank of England return afford the following; comparison _ This tveak Irfisfc week. Last JSM Bullion ... ... 33,201,033 88Alio03 36.414.000 Spserve 29.403J00 J8.214W 25.i78,«i0 Note circulation 115.78:1.000 i!3.82(i.U00 27.b7;i,01)0 Public Doposits 10.770,000 17.301.0J0 13.004,0(M Other Dftposils 39,755,'j01 41,173,000 Proportion of reserve to liabilities ... 52.31 51.20 51.27 OOVEHSIIENT SEOOEITIE3. The followin? are the latest quotation, for Goirernment tecurities. with o comparison of those ruling last week:— j Variati oa w corupftrad Price, with last week. * '■ £ s. d. 25% Imperial Consols 78 0 0 -,'s. 6d. lowor 4 N.S.V.',]G33Jan.-Ji!ly 105 10 0 Unchanged 'oh "N.5.W.1913.Mav.-Sep. D 3 10 0 Unchanged 3 "K.SAV.IIOS Apl.-Oct. SO 0 0 Unchanged 4 ' Vic. 1020Jau.-July- 102 10 0 10s. liiyhei* "Vic. 2iyi-(iJan.-July 07 0 0 30?. iowcr 3 Vic. 1t)23-49.1an.-July 6*lo 0 Unchanged 3j "S.A. 191G.iaii.-Juiy 07 0 0 Unchanged 3 ;'s.A. UlliJau.-July b7 0 0 Unchanged 4 ..Q'i'dlOi.t-aj Jftii.-Jaly 102 10 0 Unchanged 34 OV(lM.!l-30Jan.-JlUy 80 10 0 Unchanged 3 Q'l'dlWi-47Jan.-July 84 0 0 Ucchamiod 4 ,K.Z. 1929 May-Sov, 10-2 10 0 Unchanged 31 ',N.Z. 11)10Jan.-July 07 0 0 Unchinged 3 N.Z. lOlr. April-Ocij. tB 10 0 Unchanged 3i ,'W.A.IOiO-IOSIay-Nov WlO 0 Unclianged 3 „\V.A, 1915-30Jlay-Xov M o 0 Unchanged Si „Tas. Hi4oJan.-Jr.iy t'6 0 0 Unchanged 3 „Tas. loa-io Ja'n.-J nlyl t5 I) 0 Unchanged

BANK EATKS OP DISCOUNT. The Bank of England rat® was, on December 1, 1910, lowered from 6. to 4i per cent.; on January 27 it was lowered to 4 per cent., on February 16 to 21 per cent., and on March 9 to 3 per cent. On September 21 it was advanced to 4 per cent., on February 8 it was reduced to 3J per cent., and on May 9 to 3 per cent. The Bank of France rate was reduced from 31 to 3 per osnt. on January 23, 1908, and continued at the latter fiEure until September 21, 1911, when it was raised to 3J per ccnt. The Imperial Bank of Gsrmany reduced its rate from 5 to j45 per ccnt. on February 6. and on February 19 the rate was further reduced to 4 per ccnt. On September 19. the 'ate was raised to 5 per cent. MAEICET BATES OF DISCOUNT. The following are the market rates for best three months' bills:— London Paris Berlin rate. rate. rate, per ccnt. per cent, per cent. This week 2! 3 4 Last weak 23 3 33 Last year 21-16 2 fa Short loans are quoted at 2 3-8 percent., as compared with 2} pel' cent, last week, and ii per ccnt. last year.

COLONIAL AND OTHEK PEODUCE. "Wheat.—The markets are quiet. An Australian cargo sold at o9s. 9d.; nefir cargoes are ratli.?r steadier, but those distant have an easy tendency; 40s. 6d. is asked for South Australian, and for off coast, 40s. 3(1.; for jscw South Wales buyers : arn offering sixpence less; 395. 6d. is asked for Australian .'April-May shipment, o9s. for parcels April-May; 425. 9d. has bsen paid for small lots of Australian on spot.. Flour.—There is a, quiet trade in Australian at 28s. to 28s. bd, ex ptore. Oats arc dull and unchanged. Peas are quiet, but steady. BuUer.-Tlie market is fim?r, with fair inquiry for best brands. Danish, 115s. vo 1175.: choicest Australian. 1075.; unsaU'd, to 110s.; choicest New Zealand, 112s. to

1145.; unsaltcd, 114s. to 116s. Cheese ! s in strong demand. Isew Zen* land, white, 725.; floloured, 735. Sugar.—German beet, S3 per cent. net. litre. Is. 2d. lower it Ks. 1< . per nvt.; first mark granulated, 1.0.j. Hamburg, Is. 2d. lower at 15s. sd. Bradford Tops.-Thc market is very fl-m. and tlic advanced prie.-js are checking business. Sixty-fours, Z6d.; super sixties, *51d.: common sixties, 243 d.; fifty-sixes, 21M.; fifties, 18d.; forty-sixes, MJa.; forties, 13? d. THE METAL MARKETS. Copper, oil spot, £2 16s. 3d. higher at £73 per ton; three months, £2 lis. M. higher at £73 7s. 6d., electrolytic, 20s. ''Tin, on spot, £6 ss. higher at £212 per ton* tlirce months, ss. lower at ££~o Lead, soft foreign, 10s. lower at *.16 per 4d. higher at 545. per ton. Wolfram, £29 pjr ton. Spelier, 5s- lower at £25 12s. 6d. per ton. Silver.—Bar silver is quoted at 26} a. per ounce standard. WHEAT. By Telegraph-Press Association-Copyright. (Rec: May 18, 0.40 a.m.) Sydney, May 17. Wheat is about a halfpenny easier. VICTORIAN PRODUCE MARKETS. Molbourne, May 17. Wheat. 4s. 4d. to 4s. 4Jd. Flour, £9 ss. Bran, £7 Pollard, £7 10s. Barley, EnglishSs to-6s. 41d.; Cape, ss. to ss. «d. Oats, Algerian. 3s. !>sd. to 3s. lid.; 3s. 4d. to 3a. 5Jd. Potatoes, £7 to £8 us. Onions, £11 10s.