COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1611, 30 November 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. Qulotnces was a foaturo of tJio investment- Bhnro market yesterday. Rational Influrancflsharos, changed hands at 40s. 6d., and this was tho only transaction recorded. Buyers. Sellers. ».. . _ , £e, d. £i s. d. National Bank — (jo 0 Bank New Zealand 10 16 0 — Equitable Building — 9 16 0 N.Z. and Eivcr Plato 2 10 — Weil. Trust and Loan ...• 7 2 6 7 10 0 Feilding'Gas ....: s — 10 6 Well. Gob (recond issue) 15 12 6 — well. Gas {third issue) ... 14 10 0 14 15 0 Well. Gaa (preference) ... 1 0 0 — S.B. Insurance — 3 14 0 Standard Insurance 111 9.- — Gear Moat (.£4) — 12 17 6 N.Z. Shipping 14 0 0 — Union St-earn 2 7 6 2 8 6 Well. Woollen (ord.j 3 15 0 — Well. Woollon (pref.) 2 17 0 2 17 6 Kiliurangi Ooal 018 0 — Westport Ooal . — 17 3 Golden Bay Cement — 110 N-Z- Drug ... - 2 10 0 oftarjand s ordinary — 110 Ward and Co 6 0 0 5 2 6 W.F.O.A - Ho HAILWATS OP THE BRITISH EMPIEE. ~l n 1?W. without reckoning tn Egypt and tho Sudan, the railways of the Empire in operation extended to over 115,000 mika, and the tota.l must now be nearer 130,C(i0 miles. The length of lines in tlio various sections of the globe is given below, the Hu.ropeon- 63 miles being' in various islands. Eailways of the Empire in 1910. Com- Total. . Govt, pany operaowned. owned, ted. _~ , „. , Miles. Miles, Miles. United Kingdom — 23,387 23,387 Greater Britain^Europe — 68 68 Asia 24,506 8,813 33,319 America &W. Indies 2,640 24,230 26,870 Africa 9,748 1,466 11,214 Australasia 18,220 1,810 20,030 Yarious Islands 130 144 274 55,244 59,918 115,162 Add Egypt and Sudan 2,791 881 3,672 Tho above' represent only about 19 per cent, of the world's mileage, though they have cost nearer one-fourth of the world's railway total, and carry one-fourth the traffic. But British capital has been instrumental in constructing not far short of ( one-half the world's railways, and in that way has conferred upon mankind one of its greatest boon 6.

RUBBER PRODUCTION OP THE EMPIRE. The exhibit forwarded from the Imperial Institute to the International Rubber Exhibition at New York has attracted considerable attention. This exhibit, which illuistrates the rubber resources of the British consists of (1) mounted herbaa'iiwn specimens of the most import* ant rubber-yielding plants indigenous to or cultivated in British tropical dependencies, and (2) 157 representative specimens of rubber from the following countries :—lndia, Oeylon, Straits Settlements and Federated Malay States, British North Borneo, Papua, Fiji, Gambia, Sierra Leone, Gold Coast, Northern-Nigeria, Southern Nigeria, Ajiglo-Egyptian Sudan, Uganda, East Africa Protectorate, Zanzibar, Nyaealand, Natal, Transvaal, Rhodesia, Seychelles, British .Guiana, British Honduras, Jamaica, Trinidad, Dominica, St.. Lucia, and Bahamas. The exhibits are accompanied by descriptive labels giving full information regarding tho rubber resources of each country and statistics of the production during the last ten years. The exhibit serves to draw attention (writes the' "Financial Times") to the important position now occupied by tho British Empire in connection with-the supply of raw rubber. Owing to the large development of rubber plantations in Malaya and Ceylon the produc,tion of rubber in British Dependencies increased from 4114 tons in 1905 to 10,945 tons in 1910, and the latter figure will be greatly exceeded in the next few years. , In 1911 Malaya alone furnished 10,656 tons of rilbbsr and Ceylon 3190 tone, a total of 15,846 tons, which was nearly one-sixth of the world's total production during that year.

• SALES OP MAItLEOSOUGH ESTATES. Messrs.' Dalgety and Company, Limited (Blenheim branch), advise having held Wo large ■ land sales oil Novee&ber 23 and 26, ■ when portion of. the well-known TJgbrooke Estate belonging- to Mr, H, D. Vavasour, and Tyntesfield Estate, belonging to Mr. E. P. J, Grigg, were offered under the hammer, the total areas offered being 11,600 acres and 10,491 acres, respectively. There was a good attendance from all parts of the Dominion, and the auctioneers state that the prices realised and the interest evinced indicate that the demand for Marlborough "land, is increasing. In the caso of each property the terms ■offered were exceptionally eaey, The Ugbrooke prices ranged from £6 to £11 per acre for mixed agricultural and pastoral country, and the auctioneers advise that tliey have still a few blocks of both classes of country available. The bidding at the Tyntosfield sale, on November 26, was not spirited, and none of tho blocks was cleared under the hammer. The two largest blocks, aggregating 8764 acres, have, however, since been sold, and it is probable" that the -two smaller blocks, comprising 1256 acres and 471 acres, will bo disposed of shortly. The reserves in both cases were vory reasonable.

ATrS.TBALA.BIAN BANK AVERAGES. The Melbourne "Argus" lias effected the compilation of the Australasian banking averages for the September quarter. Compared with the corresponding quarter of last year, the deposits have increased in five of the Australian States, and decreased heayily in West Australia and New Zealand. .Th» figures are as. under:— AUSTRALASIAN BANKING DEPOSITS. Sept. Sept. . quarter, quarter, 1911. ' ■ 1912; ■£ £ ' £ N.S. Wales ... 54,992,807 ■ 56,094,349 Inc. 1,101,542 Victoria 45,504,547. 46,132,011 Ino. 627/64 Queensland ..19,806,609 20,4E8,802 Ino. 682,193 8: Australia, 10,679,511 11,185,731 Inc. 506,220 W. Australia 7,247,290 6,519,941 Deo 727,349 Tasmania .... 3,822,812 4,229,025 Inc. 406,213 Oom'nw'lth 142,053,576 144,649,859 Inc. 2,596,283 New Zealand 27,075,883 25,181,291 Deo 1,894,592 Total- .... 169,129,459 169,831,150 Inc. 701,691 The net inoroa-se in the deposits is a mere 'trifle; but Australia undoubtedly makes a better showing than New Zealand. Tho advances show OJI enormous increase, as will be soen in the table appended: AUSTRALASIAN BANKING ADVANCES. Sept. Sept. quarter, quarter, • 1911. 1912. ££ £ ' N.S. Wales ..-44,856,747 40,043,244 Inc. 3,186,497 Victoria .... 37,164,955 38,589,532 Inc. 1,424,577 Queensland . 16,342,376 17,980,516 Inc. 1,638,140 S. Australia, 8,461,578 8,611,873 Inc. 150,295 W. Australia 7,806,011 8,623,588 Inc. 817,577 Tasmania. ... 2,922,027 3,070,709 Inc. 148,682 Oom'nw'lth 117,553,694 124,919,462 Inc. 7,365,768 Now Zealand 23,665,601 24,240,530 Inc. 574,929 Total .... 141,219,295 149,159,992 Ino. 7,940,697 In' New South Wales the deposits exceed the advances by £8,057,000, in Victoria the excess is £7,543,000, in Sonti. Australia £2,574,000, in Queensland £2,508.000, in Tasmania £1,158,000, and in New Zealand the exoesa of tho deposits is only £9<0.0C0. In West Australia tho advances exceed the deposits by as much ae £2,104,000. Oustoims duties collected at tho port of Wellington, yesterday amounted to £1137 . Is. Sd-. GEAIN AND PRODUCE. (By Telesraph—Press Association.) Christchurch, November 29. The looal KTolft markets are in a particularly lifeless state just now, and conditions are quieter than they have been sor5 or s a J™ 0 - y Uch 13 saying a good deal. Offerings of wheat are practically nil, aind tho same remark applies to oats although inquiry hero is certainly a good deal keener. It Is said that a small lot of potatoes havo been sold for shipment to tho North Island at £10 per ton, but this price oan hardly be accepted as the ruling market rate. Oateheef chaff h.ia declined a little, and now stands at 50s per ton.

. LONDON MARKETS. Messrs. Dalgety and Company, Llmltca. Wellington, have received cabled advice from their London office, dated November 28, as follows: Wool market: Sales continue ilrm without further change. On November 28 no 6alcs were hold, owing to a thick foff. Frozen moat: Beef—Demand is poor, but sellers are firm. Quotations-— Fores, 22d.; hinds, 3 5-Bd. Lamb: Market Is dull, and demand poor. Stocks that are held m store oonsist of stale goods. Quotations:— Canterbury and North Island, heavy, Canterbury, light, 53d.; Nort.il Island light, 5Jd. Mutton: Demand ig fair and market -steady. Quotations:-frm'tor-bury heavy, 4 3-Bd.; light, Iftcl.; North Island, heavy, 41d.; light, 4}d. Tallow Fair demand for mutton at' unchanged prioes. Other descriptions, par to 3d. per Bivt. lower. Demand is vory small. Babbitskims: Strong demand for furriers' top lots, prices are rather deaxer, Ouhor dasorlywmi. M »« coot. Mslior, Cutters, 2d.

BANK OF ENGLAND RETUHN. By Telegraph Ptcgs Association—Copyright (Rec. November 29, 8 p.m.) n , . London, November 29. Iho Bank of England return isslod for the wcok ended Wednesday, November 27 is as under:— ' Issue Depatitment Note lesuo £54,663,000 Gov.dobt •» 015 000 Other Becurl- ~ ' ' WM ... m 7,454,000 _____ G °l<* 36.514.000 £54,063,001 i51.693.0C0 Banking Depatvement. Proprtotorß' Govt, eecurl- . PuUic'do- £ "' M3 '°°° o^ri mMm ' Other da 13 ' 1SO ' OM tl6s 32.7G1.C08 posits ... 41.753.000 Kotos' ... 26.651.003 Rest. 7-day and other bills... ... 3.332.C0D Coin... 373,500 £72,818,003 £73.618.000 The loading items of the Banli o£ Ensland return afford the following comparison:— This week Lasfeweek Last year' ££ ' £ Bullion ... ... 36,514.000 86,148,000 36.309,000 Reserve... ... 27,024,000 27.C88.C00 27,075,000 Note circulation 28.312.000 29.277,(W0 2S 732 000 PublioDoposifca 13.150.000 13,884,000 12,128.000 Other Deposits 41,753,000 • 40,633,000 40,619.000 Proportion of reserve to liabilities... 60,81 50.67 61.31 GOVERNMENT SECURITIES. The following are the latest quotations for Government securities, with, a comparison of those ruling last week —

BANK KATES OF DISCOUNT. The Bank of England rate was. on January 27, lowered to 4 per ■ cent., on iebruary 16 to 3J per cent., and on March 9 to 3 per ccut. 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 por cent. On August 29 .it was raised to 4 per cent., and on October 17 to 5 net cent. ■fJ he -i E ? nk 7 of Frailco ra t° was reduced nom oi to 3 per cent, on January 23. 19C8 and continued at the latter figure until' September 21, 1911, when it was raised to 3i per cent. On May 17. 1912, it was reduced to 3 per cent., on October' 17 it was raised to 3J per cent., and on October 30 to, 4 per cent. ■ • . " The Imperial Bank of Germany reduced its rate from 5 to 4i per cent. on PebruSi, a r n w 0n A ob J«ary-i9'-tho rate 'waß educe . a 4 Per cent. On September 19, the rato was raised to 5 per cent June,1 n 1 ". 1 ? 1!! ' n" ~ vas reduced to -4 pei cent., on October 24 it. was raised to 45 per f percent" 1 NoTCmbl!r 14 11 «' as raised to MAEKET BATES OF DISCOUNT. i,^! 10 ., followin ß , are the market rates for best three months' bills:- • London Paris Berlin rate. rate. , rate. His week ■..!" "f • POr % Dt per 6 cent - Weok i 1 5 "16 « 5 3-3 Last year 39-16 , 31 . , 43. Short loans aTO quoted at 3 15-16 per cent., as against 31 per cent, last week, and 3 per cent, last year.

COLONIAL AND OTHER PRODUCED WhM.t. T are firmer, . Shippers are Offering sparingly, and there is little bidding; 375. is asked for Australian ..Toiiu> ary-lebruary shipment, 365. 9d. for 'MarchApril shipment. . • Becejnber-ltarch' de--7« ir -ra - ■' pc f centals May dolivery, /a. ijfia.; Olueago wheat, December delivery, i . ceat6: Mtty delivery; 901 cents .to 91$ cents. .• Australian, on Bpot, stands at about 40a. ilour is dull and . easier. Australian patents, 28s. fi. per sack of 2801b. ex store. Oats are slow of. sale. La Plata," Jam-ary-February shipment,. 15s, 3d, Butter.—The'.first- fn England . and" the hardened-the market.,' There -is an . improved demand for colonials and prices are firm, but unchanged., Danish, y*»i H -MOs. Importers are storing-New Zealand-butter in the hope of better prices ruling shortly. • • • Cheese.—The ' market is • quiet and:'' uiehangod. " ■ : Sugar.—German beet, 88 per cen/t.-' net titre, unchanged at 9s". fid. per. cwt.: first inarlc granulated, .f.o.b. Hamburg,' Id higher.at 11<3. Bd. Bradford Tops.—The market is very firm 1 , but business ;is -quieter. Sixty-four sr 29d. P 7 e fT r iipf up ° r 28^d -5 common sixties, 27(1.; fifty-sixes, 22£ d.: fifties, 21d- fortvl sixes, m : forties, 152 d. . ' ia " ; r ? u^ , . THE JTETAL MARKETS '. Copper.—On spot, 17s. 6d. lower, at £7a i<Js. 6d. per ton; three months. 12s. 6d lower, at £77 12s! 6d. • . Tin.—On spot, 15s. higher, at £226 15b s??c tfl 11 ' months. ss. higher at &£go lus. Lead, soft foreign, 2s. 6d. higher, at £18 Zs. 6d. per ton. Pig-iron.-Middlcsboro' No. 2, 4d. lowex. at 675. Bd. per ton. Spelter, 15s. lower, at £26 ss. per ton. Wolfram is quoted at 335. per unit. RABBITSKIN3. . The rabbitskin sales closed strong. Tho 7?™ was 32ttl ' and tll ® number sold 3000. Cutting sorts advanced from 2d. to 3d. per lb.; fair winters, from 3d. to 4d Irood- winters, dressing skins, brought od. to la.jute? Nfl/Hve first mark, Novombcr-Decombei shipment, n,ro quoted at £25 per ton. LONDON WOOL SALES, By Telegraph—Prcas Assooiatiou-OopsTlsht m , London, Novombor 28. The wool sales have been postponed owing to a fog. MELBOURNE WOOL SALES. (Hoo. November 29, 9.30 p.m.) MelbouTno, Novombor 29, Competition At the wool sales wan keen and well distributed, and the high prices realised in the earlier part of tho week were well maintained. Towards tho close however, in sympathy with tho London sales, which failed fully to realise expectations, the bidding showed irregularity, and the withdrawals were somewhat heavy Finer sorts, however, wcro in strong do-' maud. VICTORIAN PRODUCE MARKET. 1 Molbourno, November 29. ■Wheat, 4s. 2id.; December, 3s. Bd. to 3s Eld.; flour, £9 155.; bran, £6 55. ; pollard £7; oats, New Zealand, 3s. 4d. to 3s. 4!d • Algerian feed, 2s. lid. to 3s. OJd.; maize, 4s' OJd. to 4s. id.; potatoes, old £8 9a. new £10 55.; onions, £6. SYDNEY POTATO MARKET. (Hoc. November 29, 10.35 p.m.) Sydney, November 29 The potato market is baro. Locally grown lota have been eold at £18 a ton.

Variation — " compaecl Pr!c«. rcifch Jasb wook. £9.6., 2*% Imperial Consols 74 3 6 23/fi lnwAr 4 „N.6.'\Y.1983Jan.-JuIy 103 0 0 Unchanged 35 „N.S.\V.1930-501Ir.-Si> 8S 0 0 100s Uisher 3 , N.SAY. 1935 Apl.-Oct. 64 0 0 faS i Vic. 1920 Jan.-July 103 0 0 S Xta 3J „VIc. lO-iO-M Jan.-July 91 0 0 20s SIS 3 „Vi3.1920-49Jan.-JuIy 79 0 0 UnclmnGcd 3j „S,A. 1910 Jan.-July 91 0 0 20s liinhor 3 ,8.A. lDILi Jan.-July 18 0 1 uiicliam:od 1, „QTdl915-21 Jan.-July 102 0 0 UncliaMcd q " 4 , 10 0 Unchanged 4 "m I 2» *• 1 U " Unchanged i „N./S. 1920 llay-Nov. 102 0 0 10s hiulier 35 „ N.Z. liHO Jan.-July 92 0 0 Unclmnficd 3 „N.Z. lUlf.April.Oct. to 0 0 uUchZed i "w^o?H?M ay 'v >T 91 0 0 Unchawiod V'nL fe^ 5iUa /-,' N °v " 0 0 Unchanged S-3 „las. 39iUJan.-July U-2 0 0 <209 hiuhor 3 „ Tas,1923-10 Jau.-Jnly h4 0 0 Unchanged