COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1657, 25 January 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. A sale of N.Z. and River Plate shares at 40s. 9d. was the only transaction recorded yesterday.. National Bank shares were, firmer on the announcement of tho new issue of shares.- The quotations were 'as under:— - Buyers. Sellers. £ s. d. £ s. d Bank New Zealand — • , 11 5 0 National Bank 6 0 0 <6 5 0 N.Z. Loan and Mercantile ■(las.) 090 :• - N.Z. Loan and Mercantile (205.) 0 >9: 0 -■ N.Z. and Hiver Plate -..'....' -7-.. ..J 1- 0 Fcilding Gas y—V ',1 0..3 Napier Gas ■ ' 'f- ■ '20 0 0 Well. Gas (£9 155.) - '15 17 6 Well. Gas (pref.) ............. — 1 0 6 N.Z. Insurance 4'15 6' '. — S.B. Insurance —. 314 0 Standard Insurance — . 112 • 3 Meat Export (525. 6d.) ...... — 217 0 N.Z. Shipping 14 0 0 ' — Union Steam 2 6 3 5 9 Kaiapol Woollen — ' 6 5 0 Well. Woollen (ord.) 3 15 6 - • Well. Woollen (prcf.) - 1 ,217 3 Wcstport Coal 17 0 — N.Z. Drug ..- — 210 0 Sharland's ordinary —, 110 Ward and Co — 6 0 0 . *oum rights. . DEPOSIT BATES. The building societies have advanced their, rates for fixed deposits by about Its. per ocnt., and these are now . quoted as under:— 12 months per cent. 6 months 3'j per cont. 3 months 3 per cent. Interest commences' from-.- the date of deposit. , The banks raised their rates slightly soino months ago, and they ore aB under:—. , 24 months\ 4 per cent. , 12 months ' , - 3$ per cent. 6 months 1 ' .2 'per cent. • Customs.-duties■ collected at' the port! of Wellington',\yesterday-; .amounted', to, >£5384 13s. 4d. ; t' ;r.-i i . ~ ' THE GRAIN ' V (By Telegraph.—Press Ainoclation.)' . Chrlstchurch, January 24. In tho northern districts some progress has been ■ made with the cutting of wheat, and though the crops arc good they are , not equal to'thoso of last year.' . A'good many paddocks of oats are now in stock, and sbir.e threshing has - been done, but very littlo grain has yet been offered. Growers are holding out for 2s. at country stations for oate, and this price has been paid for a line of prime heavy .Cartons. Light grain is in very littlo demand, and, buyers are,.likely,, to,show a good deal of diEmiminaltiori Hn'Waking their purchases fir 'stockinglup1up'purpofes. No busineffl ■ has yet been reported in now barley. , Growers are 'expecting ; isi, but. buyers' offers are considorably below this figure., A few lots of roadsido cocksfoot-. lines .ohangod hands-at 3d;--to 3Jd., but' no; Peninsula seed has yet been offered. -• , ~ BANK OP ENGLAND RETURN. By, Telegraph—Press : Association—Oopyrigtt - ■ (Rec. January 2s, 10.15 p.m.). -, London, January 24, • The Bank of England roturn ireucd for tho week ended Wednesday, January 22, is as under.— . IBJSE DEPARTMKMT dote I«su« £53,373,000 Gov.dabt ... i 11,015,000 . »'• Other seoarl- . tlos ... ... 7,134.000 • Gold 31,024,000 £53,373,00?: ■ i.,.;',: <C53,373,(K» ' BiKKKO,J)EBAni;ur.ST-l ' l" r Proprietors?-m 7.' '■ /■-JGovt.- secuii- , !■ capital , $4,553,000/ ties.,,; £19,035,000 Public do- .. ,• ; --' Other GOCui'i- . ■ posits '... 13,033,000.' ties;.. "51,761,00» Otliei'do* ;i' . : ;• ■■■' ■, , . ■■ j.. posits ' ... 30.320.000 . Xtijj j 25.700.000' Best, 7-day ■ tndothor V bids... a ... 8,633,000 Cola- 853,000 471,348,003 '.£71,348.000 Tho leading Items of the Bank of Eng.' land return afford the following compori* son:— ' .' This irMk . Last malt Last y«ar 1 Bullion ... ... 31,021,030 34,262,000.37,010,000 Resorvs ... ... .26.55-2,000 25,645.003 08.632.000 Note circulation 27.661.000 23,07H.«)0' i!7,8U,(W0 Public DoposiSj 13.033.000 10.1i89.0M 19,637.000 . Other Dsposlts 39,329,000 41,485,008 39,211,000 Proportion of ■ roserve to liabilitios... , 49.64 49.10 48.70 ■; ■*' , .GOVERNMENT SECURITIES.' ' . The following are tho latest' quotations for Government securities, with a comthosej^UngJast^weeU^

■ BANK BATES OF INTEREST. , The Bank of England rate was,-, on February 8, 1912, reducod from 4 to 31 per cent., and on May 9 it was further reduced to 3 per cent. On August 29 It was raised to 4 per cent.i and on October 17 to 5 per cent. 'Iho Bank of France rate was reduced from 3j to 3 por cent, on January 23, 1908, and continued at the lattor figure until Seprtember 12, 1911, when it was raised to 35 per cent. On May 17, 1912, it was reduced to 3 per cent., on October 17 it was raised to 34 per cent., and on October 30 to 4 per' cent. Tho"'linperial Bank of .Germany reducod its rate from 5 to 4J por cent, on Juno 11, 1912, on October 24 it was raised to 5 per cent., and on November 14 it waa further raisod to 6 por cent.. MAJSKET KATES OF DISCOUNT. Tho following are tho market rates for best three months' bills:— London Farto Berlin rate, ~ rate, rate, per per . per ■ v ■ • cent. ' ccnt. cent. ' This week 411-16 4 43 Last week 45 3J 4a Last year 311-16 3 3ft Short loans aro quoted at 41 per cent., as nfrainst. 33 per cent, last week' and 3} per cent, last year. COLONIAL AND OTHER PRODUCE. Butter.—Tho market is depressed, owing to the weather and the accumulation of heavy supplies. Buyers aro inactive, hoping to force !>■ further reduction. Danish is quoted-at 1245. to 1265.. as against 1265. to 1275. last week; choicoFt Australian, 108s. to 110s„ 'occasionally 1125.; Now Zealand, life, to-1145.,. occasionally 1155.; Inst week choicest New Zealand butter was quotwl at 116s. to 117s. Cheese.—'Tlje market is steady, and prices are unchanged. New Zealand, 60s. Sugar: German, 9s. 6d. per cwt.; first marks, lis. 7d. Bradford Wool—Merinos and fine crossbrede are liardening. The tendency of low crossbreds is steady.-, Sixty-fours, 295.; super, 281 d.; common sixtim, 273 d.: fifty-sixes, 231 d.; fifties, 213 d.: forty-fixes. 162 d.; forties, 15Jd. Wheat.—Tiw iniultdt in Inactive, the tendonoy boLnj usaimt »eu«m. Two thousand Aiuxtati Jcaum; (Ad r#bruw tWamuu,.

sold at 37<i. 3d.; Liverpool futures, March, delivery, 7s. S l-Bd.: May delivery, 7st. 23d.; July delivery, 7st. 2Jd, Australian, landed, ia firm,at 40s. per quarter. Flour'.—Tho marliot is steady and slow. Australian, store, 27a. 9d. Oats.—La Plata, January and February shipments, 1E«. 71d. Beans and peas are firm. Prices are unchanged. METAL MARKETS. Copper.—On spot, £70 IDs. 9d.j t&reo months, £70 17s. 6d,; eleotrolytlc, £76 10s. ■ .Tin.—On spot, £226 155,; three months, £226 2s. 6d. Pig, Iron,—£66 6s. per ton. AUCKLAND HARBOUR BOARD DEBEN- • ' TURES. ((Rec, Janaury. 24,; 10.45 p.m.) London, January 24. Tho Auckland Harbour, Board Is Issuing ' £250,000 worth of, debentures at 100. NATIONAL B^NK. London, January 23. The National Bank of New Zealand Is, Issuing o, hundred thousand £7 10s. shares, on which £2 10s. .will be called up. The shares- are offered to shareholders at £4 53. in the proportion of one new sharo to every two shares now held. The present capital of the banlt Is 200,000 shares of £2 10s., representing £500,000. I'lft. issue of new shares will represent £250,000, :making the paid-up capital ■ £750,000. It is understood the new shades will be issued at once. It lias been decided to issue the now shares at £3 155., that is £210s. capital and £1 15s. premium. It is understood that payments will bo spread over threo quarterly instalments of £1 Es. each. Payment may bo made in full on April 2, which will carry dividend for the half-year' ending September 30, 1913. As it Is anticipated tho pre-' mium on tho now shares will be added to the bank's reserve, tho latter will stand at £625,000, making tho bank's paid-up capital and reserve £1,375,000. ; ' NATIONAL MORTGAGE 00. .(Bee. January 24, 10.15 p.m.) ' London, January 24. The balance-sheet of the National Mortgage and Agency Oompany of New Zealand bliowb a profit of £52,666. The total dividend for, the year is 12J per cent;; £15,000 has been added to the reserve fund, and £12,666 ■ carried forward. ... LONDON WOOL. SALES. '. ' ' London, January 23.. At the wool sales there was strong.competition for New Zoaland crossbreds, which American buyers supported fairly. All ..sorts .wore firm at recent rates. (Bee.' 'January 24, 11.30 p.m.) ' > London, January 24. At tho wool sales tho following prices were realised for fleece portions of the clips named: Wairere, top price 12Jd., average. 12d; Murray, 13d.,and 12 2-Bd.; Bamuu, 13Jd and 12|d.; Gear, 14£ d. and'l2ld,j Lee. field, 15d. and 13|d. ... • MELBOURNE WOOL SALES. , Melbourne, January 24; Tho wool dales regular selling season has closed. Keen competition , for all good wools was maintained until the finish. They were 5 per ceut. dearer than at tho December , sales. ,- Twcedsmuir scoured reached 261 d„ a record for tho Commonwealth. . Greasy' roached 143 d. . . ' -LONDON MARKETS. • Messrs. Dalgety and Oompany, Limited, Wellington,-have received the, following cablegram from their London office, dated January 23;— Frozen moat—Beef: Demand is poor, and good , quality, ■ other than Australasian, Is offorod at low prices. Prime ox force, 3£d.; hinds, 3Jd. Lamb: ,Demand is limited, prices are nominal. Canterbury light and heavy, 7d.; North Island, light and heavy, not quoted. Mutton: Demand limited, prices nominal. Quotations: Canterbury, heavy and light, not quoted; North Island, heavy and light, sd. Wopl 6alos: Owing to a thick fog, no sales wero held ciri London;on January 22. . Tallow;' ■Prices-.are frosi pai- to 6d. per cwt. more. '

Var!at)#n — compared ' Prioi. - with' ' • IcLBb weak. : ; £ a. J. ~~ 25% Imperial Conuli 76 3 6 6/r-litaher 4, K.3.W. 1033Jan.-July 101 0 0 Uncbansort 3i „N.9.V?,1930-501Ir.-Sp .93 10 0 UnchaH 3l ,.N.S.W.-1030-50 , . '.CO O, 0, UnebaMod 8 ..N.S.W.lOMApl.-Oot M'.O. 0. UnchS" 4 „Vic. 1920 Jan.-July 100 0 0 Unphancod 1 Si „ Vic. 19-21-6 Jan.-July .01 0 0 Uncbanced 3J „Vlc,-TjK0-49 • OS 2 6 Unchanged s ,, Vie. ISM Jan.-July 78 0 0 UnchaS si „S,A. 1916 Jan.-July 03 0 0 ' uKS3 ..S.A. 1316 Jan.July 76 0 o UncKoa' 4 „QTdl915-34 Jan.-July 101 0 0 Unchanged ii „OTai9i'2-47Jan.-JuIy 04 0 0 (JnohitiiBed 3 „QTdl02i-47Jan.-July 79 0 0 Unobangod' j „N.Z. 1029 May-Nov. 101 0 0 VnolScd ■ Si „K.Z. 1912-10Jan.-July 01 0 0 Unchanged 8 ..N.Z.lffiOApril-Oct. BO 0 0 Enchanted 3} „\V.A.1915-35 May-Nfv 91 0 0 Unchaneod 3 W.A.1015-35 May-Nov K4 0 0 Unchaneod 31 „Tas. 1920Jan.-J«ly 91 0.0 Unohanjed 3 „Ta3.19i0-<0 Jan.-July 13 U 0 Unchanged