COMMERCIAL ITEMS,

Dominion, Volume 6, Issue 1557, 28 September 1912, Page 8

COMMERCIAL ITEMS,

INVESTMENT SHARES. No business was done in. the investment share market yesterday. The quotations were as under:— Buyers. Sellers. £ b. d. £ b. d. Bank New Zealand 11 0 0 11 3 0 National Bank 6 1 6 6 2 6 Equitable Building — 10 0 0 National Mortgage 318 6 — Well. Trust and Loan- — 7 10 0 Christohurch Gas 712 6 Palmcrston N. Gas 9 0 0 — Well. Gas (£10) - 18 2 6 Well. Gas (pref.) 1 0 0 1 0 8, Gear Meat (£1) 3 3 6 — Moat Export (52i3. 6d.) — 3 C 9 Well. Woollen (ord.) 3 14 s0 3 16 0 Well. Woollen (pref.) . - 2 18 6 Hikurangi Coal 017 3 — Taupiri Coal 119, — Taringamutu Totara — 2 6 0 Golden Bay Cement 10 3 113 N. 7,. Drug — 2 11 0 W.F.C.A - 7 10 0 Customs duties collected at the port of Wellington yesterday amounted to £1917 3s. 6d. GRAIN AND PRODUCE. (By Telegraph.—Press Association.! Chrlstchurchi September 27. ' Beyond a little coastal trade there is no business doing in the local grain market. The opinion formed somt timo ago that the area sown in grain' in Now Zealand this season will be considerably below the average is now strengthened by the fact that, oven with the spring wprk that lias been done, the area of land under the plough appears to be very 6mall. In the northern part of Canterbury, where a largo area is usually sown in wheat, tho paddocks are nearly all in grass. There appears to be no particular demand for whoat, but there is still good inquiry for oats, though growers are not offering either cereal in any quantity, and most of-the business that takes place is between merchants. Potatoes are now ecUing at not more than £6 por ton at country stations. There is still a fair quantity going to Sydney, but those are mostly bought forward.

LONDON MARKETS.. MeS6rs. Dalgety and Company, Limited, have received the following cablegram from their London office, dated September 26:—Tallow: Since our last., cablegram, prices for prime beef and mutton tallow are Is. per cwt. higher. Other descriptions are from pax to 6d. per cwt. higher. Frozen meat: The market is very quiet. Mutton: Sinco our last cablegram pricos arc ?,d. to id. per lb. lower. Lamb is 1-I6d. to }d. lower. Beef: Prices are unchanged. Owing to small quantity of mutton and lamb afloat, the market is not likely to go much lower, i

LONDON WOOL SALES. By Tnlczrap^—Press Association—Copyrieht London, September 2s. At the wool sales, the opening rates were maintained. Prices for best merinos showed a. slight .upward tendency. (Rcc. September 27, 9.15 p.m.) ' • London, September 27. The following arc the Dricea realised for the flcece portions of the cllira named "PanlKau, tcmrlcc UtL. tLvorawsrlce 3-Oid.;

Gear, top 12d. f average lid.; Mcsopotama, top 22Jd., average 21& d. M Messrs. Murray, Roberts, and Co., Ltd., have received a cablegram from their London friends, Messrs. Sanderson, Murray, and Co., under date of September 26,,1s follows:—'"Corapajcd with last London sales' closing rates, scoured crossbred has advanced 5 per cent, to 10 per cent. The coarse descriptions showing greatest advance. The market generally is strong." BANK OF ENGLAND RETURN. (Eec. September. 27, 9.15 p.m.) London, September 27. The Ijiuik of England return issued for the week ended Wednesday, September 25, is as under:— Issue Department Note Ibsu« £58,712,000 Gov.dobt — Other securl- "" ' tioa ... h. 7,434,000 GoU 40.263.000 £">8,712,003 £58,712,000 Banking Depaktmest. Proprietors' Govt, securlcapital ;£14,553.000 ties £13.368,000 Public do- Other eecuriposits ... 16,£70,000 tics 35,570,000 Other deposits ... 44.011.000 Jiotoi „. 29.884,000 Rest, Way and dthor UU S- . ... 3,787,003 Coin- _ 409.000 £79,251,003 £70,251,000 The leading items of the Bank of England return afTo'rd the following comparison:— This week Last weak. East year - £ £ Bullion ... ... J0,253,001) 40.256,000 40.40-2,000 Reserve 31,313.000 31,031.000 30.946,009 Note circulation 28.tf28.C00 23.518.000 29.054,000 Public Deposits 11i.870.000 15.855.000 12.171,000 Other Doposits 14.041,000 •10.355,000 43.711,000 Proportion of reserve to liabilities ... 60.39 C 0.64 65.31 QOVEICNHENT SECORITIE3. The following are the latest quotation, for Government tecurities. with a comthose rulio<: last week:—

. BANK BATES OF DISCOUNT. The Bank of England rato was, on Decomber 1, 1910, lowered from 5 to 45 per cent.; 011 January 27 it was lowered to 4 per cent., on February 16 to 3J per cent., , ?, n ? [arch 3to 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 Slay 9 to 3 per cent. On August 29 it was raised to 4 per cent. Pill! Bank of France rate was reduced from 3.1 to 3 per cent, on January 23, 1908. fcuid continued at the latter figure until September 21, 1911, when it was raised to 3J per cent. On May 17, 1912, it was reduced to 3 per cent. The Imperial Bank of Germany reduced its rate from 5 to 4J per cent, on February 6, and on February 19 the rate was further reduced to 4 per cent. On Scptember 19. the rate was raised to 5 per cent., and on Juno 11, 1912, it was reduced to 41 per cent. MAKKET HATES OF DISCOUNT. . The following are the market rates for best three months' bills:— London Paris Berlin j rate. rate. rate. percent, percent percent. This week 3J . 23 4 3-8 Last week 33 23-8 '4 3-8 Last year 3J , 311-16 3 9-16,. Short loans arc quoted 'at 21 per cent.', as against 2 per cent, last week, and 22 per cent. last year.

COLONIAL AND OTHER PRODUCE. Wheat.—The markets are .inactive. Buyers arc abstaining from purchasing while prices arc at their present level. Cargoes are slow of .sale- and unaltered. South Australian off coast is offering at 40s. 6d.' Liverpool futures, October shipment, 7s. 7ld. per cental; December, 7s. 4 3-Bd.' Australian on spot is in email supply; and is (mated/ at 425. to 425. 6d.> New plentiful supply. The most recent arrivals are badly sprouted, and. are ; difficult of sale at 375. to 375. 6d.""c!i.L; best samples, 395. 6d. to 4Cs. landed. Flour is slow of sale. Spot is unchanged, forward shipment, 265. 3d. to 265. 9d. c.i.f. Oats are firm. "A" grade Gartons, on passage, 255. 9d.; prompt shipmoht, 255.-33. i on spot, scarce at 265. 9d.;.La'Plata afloat. 18s. 6d. Beans are scarcs. New Zealand, on* spot, 38s. to 38s. 6d. Freights are very firm. Several fixtures of sailors for tho new crop have been made at 375. 6i). Sugar.—German beet, 88 per' cent, net titre, unchanged at lis. lid. per cwt.; first marks, granulated f.o.b. Hamburg, October shipment, lis. lOd. Butter is quiet and unchanged. Them is a good demand for choice, which is very .scarce. Cheese is quiet and unchanged. Bacon is steady. There is good inquiry for Australian, at 655. to 68s. ' Bradford Top.—The market is verv firm at recent rates, but business is difficult. THE IIETAL MARKETS. . Tin, on spot, is quoted at £231 15s. per toll. Silver.—Bar silver is quoted at' 29} d. pel ounce standard. VICTORIAN PRODUCE MARKETS. By Telegraph—Press Association-Copyright • Melbourne. September 27. Wheat, 4s. 3!d. to 4s. 4d.; flour, £9 10s.; oats. New Zealands, 3s. to 3s. 4d.; maize' 4s. 2d.; bran, £5 155.; pollard, £6 155.; potatoes, £13; onions, £18.

Variation — compared Prica. with last week. F^s'wVB£ c , Unchanged 1' '•v'^^S, J , an -i ulj ' 10! 10 0 Unchanged 3 "mSW 07 0 0 Unchanged 4 Al, T 1 -, 0ot 34 10 0 Unchanged I " ' ' ? , ll -' J " 1 ly , 1010 0 Unchanged 1 5,510 0 Unchanged ! ' ' S ll,n ;1 uly 8100 SOsIowci' a "st'nn-1 U '1 U y 9110 0 Unchanged • 'm q!-S'!" Jul T y 79 0 0 Unchanged as 'fv • io.;vn, an, 1 u,y 101 0 0 Unchanged "mnS 53 0 0 Unchanged 4 'V 7 a^ Ja v" July 81 0 0 203 lower 'vf'^'i rily "> 0 . T - 103 10 0 Unchanged 3' "vy J!i?i an, .7 r " | y MM 0 Unchanged . A])ril-Oc(i. b*2 0 0 l'js lower ' w"A'Sl-Af ay " Nov 9410 0 Unchanged irJn"; ay " Xov 8,i 0 0 Unchanged « „ las. KHOJan.-JuIy IB 0 0 Unchanged 3 las. 1023-13 Jan.-Julyl 84 0 0 Unchanged