COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1698, 14 March 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. A sale of New Zealand Loan and Mercantile shares at 10s. wa«s the only transaction recorded yesterday. The quotations were as under— , Buyers. Bellera. £ f. d. £ s. d. Bank of N.S. Wales -10 0 0 - Bank New Zealand 11 5 0 — N.. Loan and Mercantilo 0 9 9 — Well. Deposit 0 4 9 - Cliristchurch Gas — 712 6 Napier Gas (£5) — 9 15 0 Well. Gas (£9 155.) 15 12 6 - Well. Gas (pref.) 10 0 — Meat -Export (525. 6d.) ... 3 0 0 Union Steam (ex rights) — 2 5 0 Leyland-O'Brien — 16 6 W.F.O.A. (£5) - 7 5 0 AUCKLAND DRAINAGE DEBENTURES. Tho, £100,OCO worth of 44 per cent, debentures that arc being issued by the Auckland and Suburban Drainage Board, are certain to be taken up, a 6 the amount is emaU, and the return on the investment 19 a good one. Tho debentures a.re being issued at 99, not 91, as stated in the cable message, and they mature in 1934. The loan is for a period of 21 yours, and should appeal to investors. The present is not tho most favourable thne for raising loans iu London, as the money market there is in a nervous condition owing to the demands for gold. Germany having been- called upon to ropay the call loans and sliort-datcd loaii3 made by Franco and Russia, is in the unfortunate position of being forced to-sell foreign securities, and this is affecting the London money market. The foreign securities would be ltand raining shares, shares in exploration, clectrioal, and other joint-stock companies. American railway bonds, and perhaps the bonds of the smaller European States and Latin-American. States. These securities would be sold on the Bourses in Vienna. Paris, St. Petersburg, and the Stock Exchanges in London and New York, but wherever 6old, the sellers will arrarigp for credit on London, because London is the only free gold market in the world. All that is wanted is a cheque on the Bank of England, or the notes of that institution, and the gold is available immediately. This canot be done in Paris or other Continental cities; because'the Bank of Franco has tho 'right to pay in gold or silver, and when large sunware wanted the Bank pays mostly in silver. The Bank of England pays in gold on demand. If the withdrawal of gold from England becomes pronounced, and the Bank is unable to check it in any other, way, tho bank rate of discount will be raised, and other counties will be forced to help in supplying the metal. COMPANIES REGISTERED. The following appear in this week's "Mercantile Gazette":— . DomtinSon Forrolith Co., Ltd. Registered as a private company oh March 11. Capital £3000, divided into 3CCO shares of £1 each. Subscribers—Wellington (paid-up shares): J. J. Bertin6lia\v, 175; J. ifutcheeon, 663; T. Wilson, 662; (contributing shares): A. L. Johnson, 1000; G. Wilson, 250; A. R. Atkinson, 250. Objects: To acquire an invention by George Joshua Bertinshaw, of Wellington, engineer, for improvements in the construction of ferroconcrete poles, and also an invention for improvements in poet-office pillar-boxes. Tairua Opals, Ltd. Registered March 11. Capital £7500, divided , into 75Q0 shares of £1 each. Subscribers—Palmerston North: P. A. M'Hardy, 250. Feilding: G. Elliott, 100; 11. M. Hare, 155; E. Goodbehere, 120; W. C-arthew, 25; H. Crabb, 250 Auckland: C. B. Buxton, 1000. Objects: Mining and incidental. ' Wunganui. Guaranteed Discount, and Loan Co., Ltd. Registered as a private company. Capital £15,000, divided into 16C0 shares of £10 each. Subscribers: R. DuiikI ley, 50; 0. H. Burnett, 200; J. A. Young. 100; R. Speinziman, 100; A. F. Hogg* 167; J. T. Muir, 50; C. Burnett (Fordell), 100; J. W. Hirst, 50; S. A. Burnett, 100; J. D. W. i M'Beth, 333; H. R. Hatoherly, 100; M. E. : Grummit, ICO; A. 8. Callan, 50, all of j Wanganui. Objects: To advance or lend money, and to give any guarantee for the payment of moneys, etc. . CUSTOMS REVENUE. The Ouatoms duties collected at the port of, Wellington yesterday amounted to £1258 14s. sd.' ARGENTINE* SHIPMENTS. Tho Depai'tment of Agriculture, Industries, and Commerce has received the following cablegram from Buenos Ayre3. dated March 6, 1913:— . Tho following shipments of produce v\vero dispatched from the Argentine to the United Kingdom during February, 1913, compared with February, 1912:— 1913. 1912. Frozen beef, quarters 252,000 150,000 Chilled hoet, quarters 237,000 „ 164,000 Frozen • mutton, carcasses'... 283,000 261,000 Frozen lamb, carcasses ... 56,0C0 73,000 Butter, cwt. ' 13,314 12,296 Ldi\*DON MARKETS. Tho New Zealand Loan and Mercantile Agency Company, Ltd., have received tho following cablegram from their London house, under date March 12:—Tallow: We quoto present spot values for the following descriptions:—Good mutton, 365. 3d. por owt.; good beef, 355. per cwt.; mixed, 335. per owt. The mutton market is easier. Wheat: We. have, sold at 375. 9d. c.i.f. an Australian cargo. Tho market is Quiet, but steady, owing to increased supplies. Tho Argentine outlook is discouraging.. LONDON WOOL SALES. By Telegraph—Press Association—Oopyrieht , London, March 12. There was an animated sale of all sorts. Prices are unchanged. (Eeo. March.'-14, 0.5 a.m.) London, March Tho following are the prices realised at the wool sales for the fleece portions of the clips named:—Awuee. top price, 12Jd.: average price, 11 3-Bd. Tautame, 14d. andi 123 d,. Oairn, 15d. and 12Jd. ' Ngaio, 12* d. and llid. Tibi, 13d. and 12Jd. The Bank of Zealand has received the following cable advice from its London office, dated March 12:—"Current prices for North Island farmers' lots in'average condition: Coarse crossbred, 36 to 40's quality, lid. to llid. per lb.; medium crossbred, 44 to 46's quality, lljd. to 12Jd. por lb.; fine crossbred, 6fl's quality, 125 d. to 13Jd. per lb. Current prices for South Island farmers' lots (Canterbury style), in average condition: Inferior merino, common 60 to 64's quality, IOJd. to lid. per lb.; superior merino, super, 60 to 64's quality, 13d. to 14d. per lb.; half or three-quarter-bred, 66's quality, 12* d. to 13id. per lb. TALLOW. London, March 12. At the tallow sales, 1143 casks 'wero offered an d 873 sold. . Prices are unchanged. SILYEH. London, March 12. Bar silver is quoted at -26gd. per ounce standard. . , AUSTRALIAN PRODUCE MARKETS. (Rcc. March 12, 9.30 p.m.) Sydney', March 12. Wheat, 3s. 6Jd. to 3s. 73d. Flour, £8 15s. Oats, Algerian, 3s. 3d.; Giants, 2s. lid. to 35.; A Cartons, Js.: B Gartone, 2s. lid. Barley, Cape malting, 3s. 3d. to 3s. sd. Maize, 4s. 2d. to 43. 4d. Bran, £5 10s. Pollard, £5 15s. Potatoes, Tasmanians, £7 ss. to £8 10s. Onions, £8 15s. Butter, selected brands, 985.; choice. 9Ss. to 945. Cheese, 6d. to 7d. Bacon, 93d. Adelaide, March 12. Wheat, 3s. 7d. to 3s. 7jd. Flour, £8 to £8 ss. Bran and pollard, Is. 2d. Oats. 2s. 2d. to 2s. 3d.