COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1655, 23 January 1913, Page 8

COMMERCIAL ITEMS.

HANKING CAPITAL.. The principal banks in Australasia arc alive to'the necessity of providing additional banking capital. The necessity a-risca partly through the expansion of trade, and partly'through the withdrawal of English capital; The Bank of Australasia is issuing 10,100 shares of £',0 each at a premium, o. £60. The Union Hank proposes to. create £0,000 additional shnrc.s of £75 each. . Tha existing shares ofthw institution are .£25, p»id up; and the rcarket price . or .'tlie sliarci; is about £58," so that It-isjiret. poscubic the shares will-.be '■ Wsued'at ;ii•■•pro--return of £20. The National Bank of New Zealand is issuing' IOO.KO-ekdrcs-.of 50s. . each, at n'premium of 25s'. Scveralof the purelv. Australian banks are,about, to: increase their, r-apital, ailel the'flank, of' Now Zealand k to obtain '. bgislativo,sanction for capital expansion. Soma shareholders of the Bank of New Zealand are under the impec-sion 'that the /now shares, 'will bo issued at par, that K. '£3.65;- Bd. por share, but those who think-.eo■. m.iy be mistaken for market pries' of. tho sharea mistaken for the markot'pricc"of-thoeharcs while it is quite safe, ta- say-'that' the directors of the bank will'not endorse such a proposal. , Dealing; only with the announcements already made, the additional banking capital to be provided will be approximately aa follows:—." .';-.'''• Bank; Newshares/Pricc. .Capital. Australasia'-... 10,003. .' £100 £1.000.000 Union 20.M0-. '■' £40.' £800,000 National : ICO.OCO '-7Es. •', £375,000 An addition of £2,175,000 will' be provided' hy these three banks, and with what the others propose doing,'/ the total should easily reach £5,000,000;. . '. ' ■ "dUNEDIN.WOOL. 64LES.'.;."'. ■ (By Telegraph.—Press,,Association.) "•.'■■; . ' Duncdln,, January 22. The .eccond, wool- eaW of. 'tills season's Eerics'was commenced 'morning before a very large'attendance of English, American; Continental,' and, colonial buy•ors. Several,finis. participating in tho salesubmitted a record .offering for. tho Dominion, while ■ the ■ total Showed tin . increaee .of 6640 bales over the:'numbcr of bales submitted 'at. Ifust.-year/a January .sales. ,'A total .of 27.867-bales ma's .offered,'.and./com-' petition throughout/ thebaic was very ..animated 111- all 1 prices realised being, if .anythinß.Vbeyond/-.expectations. American buyorsVwere compiling for, all lots suitable for .their, •trade on the same limits as'af the December, sales'.- 'Owing to "a great portion.fof the wool being tender in staple, and'impregnated with teed, these buyers-were no.t,able..to buy as much' aa they usually do at these sales. .Fine haif.. brodi were very .'strongly competed r for ;by Continental and.!- Bradford ■' buyers,l ■ who forced local /manufacturers '-to pay'high prices'for the .finer- cldos 'of. wools which are necewary lor their, trade. IBest merinos were all 'sold/under,-.. splendid ■ competition, and as ,usua),(.wers'l'£«curcd entirely, for the 'mlUs:of','thW. :, Donrinion: Low croosbreds, althought''.spld .undar.'vcry strong competition';- wcrp' on; an.-average, of par, to a farthing, below'.the. Decemher rates, while piece's also/- sold-ut : , slightly lower prices. Generally' speaking.; the-, wool. opened up in very nice condition.'aild, on the whole. mad a really, tine- display.'.; .Therango of prices iwas ■ a>3 follows.:—. ; : ~-•;• ','.v ' ; ;A.--,-■'■■:■. ■■■',.■■.. '•: .1912.; ■'•.," 1913;'. ;i;:.-v : •; ] :-.:. ;^-: ~-- : "■■' ''d:''.'.-",'-'dV.vi.d,- : v-'.'d.' Super' Jialfbred: ..;.;..:. 11V t'6 Mi>. 13 to : W', Medium.. to good ~:..': 9i.to 101 '■■■. 101 to-121 Inferior \'...;.:....;i'.v....'.;.7J.t0' BV.- -9 to:i0 . Super crossbred ,'........-10 t0;123 :-12 t0,133 .Medium to: good ,1...'... : 81 to 10 ■ ;91 ! .t0,-U',-Inferior';" .'.;.■....„•::.:..'.:.„„7 to 18 ;;/■,8*.t0,.9 Super, merino,' .:.-........'U;.td.131' v. 11l to.. 14 . Medium,'to, good ..:....''-'i!) .t0.10.. 10 to 11 Inferior.' ;^;.. 1 ;;..i.^.'. : .;.-7 to* 8,- . BJ-tp -.'9J Super :halfbred pieces.}-;- "[\ir:£ '■■'. " -1W to 12 ■ Best-' brofobrcd.l.pieces ,"-.■; .'-;r' :.'';. 83 t0,93 % ■,^ : VLpNiiqN r ; sales;.;; ; ; ;Vv By'/Toleßraph-^Press'^ssoclatlon^Copyrlght "■'IV"- ' '.:'\-u--- :■.•■: : '■'..Cohd'brir' January 81. : ". -'• The'■:market./ U : . strong/;;.;Prkos' are unxhariged. '-.' .Competition: fori;' dll.'sorts -is being .woll :jnaintdirisd. • * \- i''r'•" : • -Messrs. Abraham'" 'ami .'Williams, Ltd.,, have received • the. following /cablegram Irani their London -agents :—"Tho sales con-tinua-with, fair .competition, the:mar-' ■Uct'-'is - very -flrm.", '.Prices,; as : :- compared witli ,thb closing: rato',of■ last scries, ate 2i per, cent, higher for fine crossbred' and ■ mbrino, - but lore vunchange'd ,-for medium' an-d'eoanc. croMbred." ' ;' . .': '

-.' Miters.'-. Murray, Roberts, and Company, •'Ltd.', thi? day receii'Od ; lhc following cablegram, dated January 2l;"from their' London friends, Messrs. Saiidarson, Murray, and'-Company-—''Merino,..inferior ..and , faulty; market weaker ,and' irregular. ■ All other, descriptions'of -. wool,: .market very. ..firm, 'but.. shows ■.no'.chaugp.'-'.l ~. ~' . ■• * '.'Messrs. Levin arid. C 0.,, Ltd. 1 ; hiwc received idvice3 from their. London < agents that the following .clips have been,'sold.at the tales •no*-' current on'*their -account;- the prices named : being the: average price realised for the . fleece '. woot,vin/ - each. instar.ee:-r Lansdowrie; Blenheim..; Is: -<25d.;/K'uia, Oha-; rlu.ll' 9-16 d.'; 'Whare; Pahautariui, lid.; Tfkamru, -Makara, ll.';ll-16d:; -,HO, (conjoined) over. Onau, Maknra, llfd:;-(SJA. Alfred-■tnri.-i'U ; 3-Bcl.': .'.*PEET' ..(within diamond), Mangahao, 1 lOSd.'j,.-'' ; '";V .:,',-■''.; : ■'; -.' . .(Kce'.. ; January'M;, 10.50 J/• .', '.'■■.'■■:• J'■■■-.' '';•' London,. l -j.anuary. 22. 'The following., were-the' prices realised, at the/wool' sales for t-ho'-'flceco i'pdrtions of .the clips' named:-Ardke-?n, top price',Hid:: .average price lid.; -Waipunga, ,13d., and • 113 d.: Washuka. 12id:'arid ,!2'l.;', Cris«otra, 'I'd. iand 12 3-Bd.;' Akitio. ■'XJd. and 12|di; Brookdalc,; ,14id. 'and. 14,3-M: '. ~.■ " -. :_>... ■;'.. ■'■■'■■'. FINANCIAL' OApLEGEAMS:. '. ':' -'''■"■;' "'■', '•'—. ■'-.:■• 'London," January-21. , • 'Dank of,' : Austrdlasia,':bnyors' £120, sellers £122. ■ ■■:•' •■•• - ':.■'■ ''■''•'■'.'■', '."- ■>>■'■:, . '■' ; ; . Hank -of New-South Wales,"' buyers £39, .sellcra.£«'.--'>'. ■.■•.■■■,•■;'■....;.'.'•■.„■:'•'■:.■•:.';.■.:;;:::'- : .', Bank, of ■ Victoria, buyers'£4 Eg., Eeller3 ''£4 Ifo" ■'- ,: "!:•-■■■.."-'-.■■-.-..■■ '.-"' , ';.•''';•' "' •'• ■Union Bank of .Australia, buyers £29 ,10s., sellers £60,105.... .' -h,-.;. '.''■ ■'"- •■■■ , '.'-:?:' : J,,' National .Bank of -Australasia,; buyers, £4 155., sellers £5. -•'• ■'>-;'",!' i ,;:';i '•-• Is'atioDn-1 -Bank of "Now Zealand:, buyers £s'lte.,'sellers £6.'. ' - '■>'■•,' ■" '■' •'•„' ' . Bank of New- Zealand,..buyers' £11,-- 10s.; sellsrs £12 10s.. y/J-r: ,;■ ■'~',■. ■■■,_■■:•. ■ Dalgcty >and' Co, s; shares, buyers £5:175, 6d.,' sellers £6.55.'. I -.' ../-.-'; .• '""..•:-' ■< ■' Bank of New .Zealand. 4 per cent guaran'teo'd stock, £99.' ■ ■'-..' ",■'/'.'':'■/ ' N.Z. Loan and Mercantile Agency.4 per cent, :£1C0; .- -:.-:■' '. ■ '-.- ;;\ .-■'- ;-':.'. - -..'- City of Melbourne 4.per cent., £98. • ' Melbourne Harbour,. If rust .4 per, cent... bonds, £97; '•>-;"':'•"■-■' .:„.'.''' ''-.'.- ■•"." '■; Melbourne Tramway . Trust ,41 , per cent, debentures, £100/.,- -~ •:.'-.'.- ■■ "'.'.'•.,. : ■ Melbourne- and;-. Metropolitan-.Board of Works' 4-, per ..cent.'.-debenturcs, £99. -. ,':-' '..'•' ?■jV'iy:, ;.w'kEAT.■;' .',''/: "];, . ;'"■''.'■ ... (Rec.'l 0.50,, a.m.)' ;■: ... ;< Ldndoh, January' 22.. , ■': The American visible'wheat supply east of the Kocltles is estimated by'.Bradstrcets at;' 122,251,000 bushels.: :;;' :. -/ , ";•;"■'.' '.THE'.METAL MARKETS... '' -'"; '-...(Rec January.22, 10.50. p.m.) . ,' '-.'• ' . - ■';'■• London, January 22. ' Copper'.-For forward '.delivery ~£69 2s. 6d.; electrolytic, £75.. .;',--. :'.'■•' '." ■--- Tin.-On spot,- £226. lCs.; -three months, £225. '.' '-,• ■! •'' ''..'■'• '.-■."'",■. .'• Pig-iron, 655. 6d. ' . ...... ..:;".' '.Lead, £17. ■.-, - .--...->■';.,;,", : :; .'.. ■ ; ■-!■■>■■'■ \ ■■-.•} SILVER.; t:-. 1 :■:.'•',' ', '.: ..-,-"'.-.' f London, Jahuary«2l. Bar silver is ! quoted at 29d. per ounco standard. ..'.-.' .:'.'-:• ■' .'.' ~.,':'•."'