COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1588, 4 November 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. ' The sales recorded on Saturday wore:— Feilding Gas at 215.; Union Steam at 455.. 6d.; Taupiri Ooal at 21s. 41d., and LeylandO'Brien Timber at 28a. The quotations were as under:— . Buyers. Sollers. £ s. d. £ s. d. National Bank — .610 Equitably Building — 9 t6 0 Metropolitan — 12 )0 0 N.Z. and River Plate — ! 1 ( Well. Trust and Loan — 7 10 0 Well. Gas (£10) - 17 17 6 Gear Meat (£4) — 12 17 6 Heat Export (£4) ; — ' ■ 5 0 0 Moat Export (525. 6d.) — 3 0 0 N.Z. Shipping 14 0 0 — Union Steam 2 5 0 — Well. Woollen (ord.) 3 14 0 - Leyland-O'Brien 17 9 — Taringamutu Totara 2 5 9 2 6 6 Golden Boy Cement 10 3 — Sliarland'a ordinary — 12 6 Eharland's. preference — 12 -9 ■Ward and Co. 5 0 0 — W.F.C.A. (£1) - . 17 6

LONDON MONEY JIAItKET, 'l'he Loudon money market is tending towards further stringency. The Bo.uk of England wan depleted of about £91,000 in gold, winch is not a very largo sum. but tho proportion of reserve to liabilities ia I down to 47.70 per ceijt.. or about 4 per cent. | Ices than last year. Tho proportion is now i dangerously low, iu'td, aa cxtruroldinary demands for gold may be expected this month, a. highe-v bank fate seems inevitable. The increase in tho Scotch note eir- | culation in the months of May and November, brings a severo strain on the reserve of tho Rank of England, 'l'ho Scottish drains have yet to bo felt, at all events we liavo to bear in mind that., on an average, tho highest rate of the Bank of England appears in November or December. The open market already reflects tho strain, and there would appear to be a great dearth of credit in the short loa.n market, as the rate lias advanced from 3i per cent. to 4} per cent, in tho week. The open market discount rate is at 5 per cent, or on par with bank rate which is tin.usual as Ul9 market rate is almost always much lower than the official rato of the Tin,nit of England. Jn somo years the differoneo Iras been only a few flliillinfte, but in other years it hits reached 0, pound, and oven more. It teems Vory probable, therefore, that tho batik rate will go to 6 per cent, this week.

CUSTOMS; Tho Customs revenuo collccteS at the pott of Wellmßton on Saturday amounted to £1487 2s. led., the total for the week being £22,188 3s. 3d. 1 —~— Tho beer duty collected for .• the week totalled £334195. 5d., as compared with £197 Is. for tho corresponding week of last year. SHOW STOCK SALE. Messrs. Dalgety and Company, Limited, Palmerston North, report having had a remarkably successful sale of pedigree Holstcin-Fnireiaiis at the Maraawatu A. and P. show grounds last week. ' The cattle offered on account of the Government Woreroa State Farm wore placed before tho public in excellent order, and -elicited the keenest competition. A number of Hoisteins were aleo offered on account of various wcll-kuown breeders, and these also realised prices In all cases highly satisfactory to vendors. ■ 'J'he hilglMfflt price of tho day was paid for the yearling bull, Dominion Do Koi Domino, which Vias puivcliaGert by Mr. Charles Hopping, a wellknown local farmer, at 290 guineas. The dispersal was fls follows:—Eoletein. bulla: Dominion De Kol Domino, .Mr. Charles Hopping, Bongotea, 290gns.; Baron Fred erick, same 187gns.: Dominion Marco, Mr. White, Auckland, 135gns.; Coza.k, Mr. F. Marchairt, New Plymouth, ISlgiiß.; Admiral, Messrs. Ogfly and Son, 136gns.: Royalist, Mr. Seacomfcc, Bay or Plenty 151gns.; Nettotaod Prince, . Mr. Ohns.' Hopping, 80gnis.; Caesar, Chas. Hopping, 9t'gns.; Sir De Koi Inka Pietcrje, Mr. Watt,' Cambridge, 60gns. Holsti-in cows: Oow, Dominion Bertha, Mr. L. C. Itathbone, Dannevirke, 9Dgns.; Frauleiii, Mr. Chas. Hopping, 92gne,; Cressy, Mt. Otitis. Hopping, UOffns.; Maroa, 3tr. Ghas. Hopping lllgns. Other breeds—Shorthorn bulls, milking strain: Dominion Qarton, to Mr. Martin Creavea, Taikorea, 34sns,; Goulburn, to ■ Mr. Wit'taker, PalmOrsto'n North, 35gns. Oil account of Mr. J.. Donald, Wanganui, Paul Pietcr.ve, to Mr. A. Gallon, WairarApa, lOlgns. On ftceount of Mrs. James, Stan way,' Baron Mooro De ;Kol, to Mr. H. Whewcll, Wailiato, 45sns. On aecount of Mra. James, Wakeful, to Mr. F. Ellery,. Eaetahi, 33gns. On account of Hr. H.. Bdiyliss,' Mang-atai-iioka, Eding of Brundill,' to Mr.' PQuilan, itaitamata, 65gns. On Accflttnt of Mi> l'ates, .Halcombe., Earine De Kol Pietcrje, to Mr. N. WiUiamfon, ,New Plymouth, 44gns. On account of Mr. :Geo. Imxtou, Waikato, "Uncle Sam,. to .Mr. D. Gibson, Mai-ton, 37igns.; sn.ine; vendor's Notherland Boy, to Mr.'.S., Clifton, .Hikur-. angi, 40gns. On iccoutit of Mr: WV Mackenzie, Palmerston North, Manor's Pride, to Mr. P. Polmef, Taranaki, 75gns., On acoount of Mr. J. 1!. Thomson, Masterton, Bivorside Lass, to' Mr. Hopping, 80gns. On acoount of Mr. W. O. Ba-yliss, Carterton, King Naxil Do Kol. to Mr. ,T. 0. O'R-orke, Ohonui, 138gns.; same vendor's Johan of Holstein Holme, to Mr. H. D. Bedford, Ngarawahia, 92gns. On account of Mr. Ernest Short, Paiorangi, two run Hereford bulls, 65gns., to 1 Mr. Murray, BlteJieiSt.

NORTH OTAGO MARKETS. - . (By Telegraph.—Press ' Association.) London, November 2. Large ■ quantities of wlieaA are offering from South "OanteAtiry, owing to -a dssirfl to sell from paddocks instead of stoning, and ono lot of 900 sacks velvet was sold at 3s. 6d., but sales of North Otago wheat have been made ait 3s. 7id. to 3s. Bd, net at country statione.: A l.in-3 of Xorth. Ota-ga Tuscan lias been sold at 3s. 6d. net' on trucks, South Canterbury Tuscan being procurable at.3s. 4d.,.net'on tracks.- Bodes of mixed lines tof "-South Oanterb.iiiry have, beßn made -at 3s. 6d. The absence of shipping Homo and the fusi of South Canterbury wheat Is depressing prices.. Qats';havo revived owing to an intiuiiry from Australia, and the -'fact that a steamef is calling here tliis week. A grade Ga.rtonfj reached 2s. Id. net o.t the end of the weßk, and B grade Ib, lid., and as high as ?s. ,OJd. net delivered was given. Little ha 3 been done in potat-oea. Tho latest busineES has been at £9 tO.s. net .on trucks. ! FROZEN MEAT. ' ' i The New Zealand Loan and Mercantile Agency Company, Limited, and Reduced, have received the following cablegram from their London house, under date November I:—Tho market is slightly weaker for mutton, there is less inquiry for lamb, and the market is very weak for beef. - . i' ' B» Telegraph—Press Association—Copyright (Rec. November 3, 6.5 p.m.) ~ Uondon, Novomber-1. . The Incorporated Society of Meat Importers' Smithfield market quotations for tho undermentioned classes of Irozen meat are based on actual sales of not less than one, hundred carcasses of mutton or lamb. or. twenty-five quarters of beef of fair average quality. The quotations ore not for selected lines, but. for par6els fairly rfipre-. sentative of the bulk of tho shipments now on tho market. The priccs which follow aro on tht> average a farthing per ]f>. mote than tho values ex ship, this difference representing an average cost in oxpensc, handling, conveyance, -.and selling the'meat:— ' Oct. 26. Nov. 2. Mutton— d. d. Canterbury, light " * Canterbury, medium ' * .* Canterbury, heavy • • « Southland .; • * , North Island, best 45 4J ' . North Island, ordinary 1\ ' Australian, light 4 4 Australian, heavy River Plato, light...., * * River Plate, Heavy - 315-16 315-16 New Zealand ewea. ......... -3J 3} Australian ewes * * ; River Plato owes * ' • Lamb— , ' " ' , . Canterbury, light 6J 51 Canterbury, medium " *' Canterbury, * . 51-16 Southland 5 5-l« 5 5-16 . North Island, ordinary... 5} 51 North Island, Selected'... 5 6-16 55-16 Australian; best * * Australian, fair * * Australian, inferior ' • River Plate, fiVSt * • , River Plate, second • • Beef— . New, Zealand, ox^foxes.... 2J 2i New Zealand, ox hinds... 3 3-8 3 3-8 Australian, ox fores ... 23 2J Australian, ox .liinds 31 • 3i River Plate, frozen forfes 2J 21 River Plato, frozen hinds 3 3-8 3 3-8 River Plate, chilled fore? 21 23 1 River Plate, chiilled hinds 35 •None offering. , Rabbits are a shade easier, owing to largo English supplies. WHEAT. S The market is quiet. Australian cargoes are held for late rates, others have declined 3d. per quarter. SILVER. By Xeleeraph—Press Association—Copyright London, November 1. . Bar silver is quoted at 28? d. per ounce 6taudard.