COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1752, 17 May 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. The sales recorded yesterday were: National Bank .new. at .£4 19s. 61.; Nntion.il JlortffiiEC, at £3 175.; Meat Export (525. 6d. paid), at 59a. 6(1.; Union Steam, old, at 425. 9d.; and new, at 435. Tlio quotations were as under: Huyerd. Pollers £ f. d. £ s. d National Built (old) — 5 3 0 i.tjiiitabie Buildinir — 9 10 0 Metropolitan Building ... 12 8 0 12 U 0 Well. Investment 0 11 (I _ Well. Trust and Loan ... 7 2 6 7 10 0 Xapior Oaa (£10) -• 16 !0 0 Xnplor Oas (£5) - 0 So W<iil. (It) (£lOl - IS S 6 Woll, £tea (prel,) - ; o 6

! National Insurance 2 16- — i.Tivir tel. (£1) o * & ~ .Meat Export 152*. 6d.) \ 9 - Union .Sleam fold) 23 j 24 0 Hiliiirnn:,"i Coal f J . k " <7 Q \Vestport Coal 17 0 1 7 9 Tariiiframulu Totara- ...... Tor Douashv iiopo and Twine ~ } L \ tioJden 1 lay Cement 7 1 0 Wcvrd ami Co < 19 0 T W.Y.G.A _ *- 736 TUB COMMONWEALTH BANK. A largo firm of merchants in and. other capital cilie* of Au«:ralia, v.ro. . on April 2, to the (iovcrnor of tho Louinomvcaiih -Hank under: - "There have been several paragrapiia ..n----pcaring the press both in Vletona and otner htatc-! wiU reference to the pohil ou of the bank and their cunomers, Mimild those latter get iut'J any nnaiuial tyc«JiC'. "As the matter is one ot interest 10 ».•* in our everyday transactions v.'lull s-.toie* keepers nnd ctni?rs throughout Awst-ralia. we would 1)0 obliged if von would give jis an authoritative declaration as lo the ik-i----tude you would italic up m the .event oi anybody bunking with you gelling uuo trouble. "ilrietiy, what wo want lo knou i>j. whether tiie Commonwealth Bauk would be content lo stand in tho same regard to snch matters as any other nnancial institution, or whether the bans would avail iUe!i of any ifoyul privilege t-o set priority over other creditors, i'our answer would be much esteemed." And the bank replied on same dn-t-o: — "I bee to acknowledge receipt of your letter of 2nd inst, and. in reply be; to advise you that as already intimated in tho press, the Commonwealth Bank of Australia. is ill precisely tho .same position as other trading banks carrying on the business of banking, and etanda in the panic position as an ordinary creditor, aud has not rijht of priority against other creditors.—i ours faithfully, "DENIS JUIiLEIi, Governor." CANTERBURY CHAIN MAItKET. iliy TelecraDb.—Press -VBSOcintujn.J Cftristciiurch, May 16. The week haq been a. very quiet one in the grain trade, and there has been little doinp, except coastwiso business, chiefly in or.ts, fowl wheat, and pot-atoea. Offerings of Brain arc very limited, growers being firm holder:! both of wheal and oats. Tho potato trade is not very brisk, and though buyers generally are ofrcrin.T only £3 10s. and £3 12*. 6d., there are few sellers even at £3 15?. at country stations, and the latter figure is only paid by those merchants who have orders to fill. Growers arc now pitting their crops in cases where they arc not .satished with the ruling prices. There is no speculative business, as no definite information is available as to whether there wit! be a demand from Australia or not. Onions are firmer, and the ruling prices at country stntious are from £6 to £6 ss. . lUNIC OF ENGLAND RETURNS.' : By Telegraph—Press Association-Copyright 1 (itcc. May 16, 9.55 p.m.) | London, May 16. 1 The Bank of England return issued for | the week ended Wednesday, May 14, is as under: — ' Issue Dcpartmrnt Nololbsuo Oov.dobt "'£11,015.000 Other csecuri-l-ica V.4 M.OOO Goii 3i.9J9.0C0 £53,593,003 £53,3E3,aX) BANKING I)r:pAnTMns*T. ProprlMois' Govt, securicapital £JJ,553.009 lies £12,870,003 Public do- Oilier sccuriposits ... 13,659.000 tics 30.878,000 Other deposits ... 38.460.000 Kotes ... 2-1.797,003 Uc6t,7-uay •and other bilis.., ... 3,270.003 Cftia... 1.i1J.000 £G0,9G8,C03 £29,903,000 The leading items of tho Bank of land return afford tho following comparison , ' Thiswook Lasb weok Last year £ £ ■ £ Bullion 84.910.000 85.fc75.00;> 83.201.000 Reserve Wi.211.0t0 L'G.-ioO.UOO 29,419.000 Note circulation 28,t;01.0)0 28.Wii.00;) 2«.7bH.0C0 Public Doposilis Io.GSU.OWJ 31.1fc9.0X 1 10.770.0c0 Other Doposits- a8.4bG.000 20,7W,(XW yJ.OSO.OO'. I Proportion of rosQL'vo to liabilities... D 0.25 40.90 62.31 GOVERNMENT SECUPJTIES. The following aro tho latest quotationa for Government securities, with a comparison of those ruling laet week:— VnrlaC/on m comjiiiled rrJc». with ' last week. £ «». d. 23% Imperial Consola 75 5 0 2/0 higher I 4 I N.S.\V.J933Jau.-Jwly 10-J 0 0 i>fls higher 3i „N.5.W.19:j0-uOMr.-Sp 97 0 0 Unchaugcrl 35 M N.SW.-l«y0.50 ro 0 0 Onchaut'ed 3 ~N.5.W.192jAp1.-Oct S3 0 0 Unchanged •1 „Vic. 3920 Jan.-July 101 10 0 Unchanged „ Vic. 1921-6 Jau.-July (I 0 2Us highor ~ Vic.-IWiMA 01 0 0 Uuchauyed U ~ Vie.1929-4'JJan,-July V!) 0 0 Unchanjjed „S,A. 1916 Jan.-July 01 0 0 Unchanged b „S.A. lillii Jan.-July 75 0 0 Uncliaiiffod 4 ~QTdl9l3-24Jan.-«Ju]y 101 0 0 Unchanged 34 w QTdIO22-»7Jan.-July I's 0 0 120s higher 3 I .CjTdl!fci.M7Jaii,-July 73 0 0 Unchunycd 4 ~N.Z. 1029 May-N«r. 101 0 0 Unchanged 3i „ N.Z. 31)12-40Jau.-July 00 0 0 2Cs higher 3 ~N.Z. IU2O April-Ocb. 7B 0 0 Unciianced 3J „\V.A.IGPS-o5 May-Nov 0 0 Unchangod 3 ..V/.A.ltfl.WSiUay-Nov tj 0 0 Uuclianynd 3i ~Tas. TO 0 0 20s higher 1 3 M Tas.IJ2J-iO Jan.-July WOO Unchanged j

BANK KATES OP INTEREST. The lianl; of England rato was. on February 8, 1912, reduced from <1 lo 3J per cent., oik! on May 9 it was further reduced to 3 per cent. Oil August 29 it was raised to 4 p:r cent., and on October 17 to 5 per cent. It was reduccd to 4J per cent. on April 17, 1913. Tlio Bank of France rate was reduced from 3* to 3 per cent, on January £5, 1903, and ■ continued .at the latter figure until Sopteuibor 12, 1911, when it was raised to 35 per cont-. On. May 17, 1912, it was reduced to 3 per cent.., on October 17 it ivos raised to SJ por cent., and on October 30 to 4 per cent. The Imperial Bank of Germany reduced ite rato from 5 to 41 per cent, oil Juno ■ 11, 1912,, on October 24 it was raiood to 5 per ccnt-V, and on November 14 it wnc further raised to k per cent- ( MAItKET HATES OF DISCOUNT. The following arc tlio market ra'tes for bost thrco months' bills:— London Paris Berlin rate. rate. rato, per per per cent._ cent. cent. This week 3?, 33 M Last week 32 33 5J Last year 2ii 3 4 Bliort loans are quoted at 23 per cent., as against 3 per cent, last week, and 2 3-8 por cent, last Tear. COLONIAL AND OTHER PRODUCE. Wheat.—Cargoes are quiet, but there is a rather better undertone. Australian, on spot, 40s. Flour is slow of sale, and prices tiro'unchanged. Oats, are dull; La Plata, May-June slutmcnt, 16s. lidDeans and peas are quiet and unchanged. Butter is dull. Choicest colonial is very scarce, and quotations arc nominal. Australian. unsaltcd, occasionally makes 110s., other descriptions practically unaltered. Cheese is quiet. New Zealand white. 605.: coloured is m plentiful supply, and is quoted at sfc. Susar.—German, 88 per cent. net. titre, 2d. lower at 9s. 4d. per cwt.; first marks granulated, f.o.b. Hamburg, Id. lower at 12s. Bradford Tops.—Tlio market is firm, and prices are unchaagcd. THE METAL MARKETS. Copper, on spot, 13s. 9d. lower at £68 lis. 3d. per ton; t,'H£o months, lis. 3d. lower at £68 lis. 3d.; electrolytic, £73 ss. Tin, on spot, £7 10s. lower at £222 per ton; three months. £7 103. lower at £215. I'ig-iron.—Middlesboro' Uo. 3, 2s. higher at 70s. per ton. Spelter, 10s. lower at £25 per ton. WHEAT. London, May 15. Official quotations for wheat:—South Australian,' New South Wales, and Victorian, for prompt delivery, 375. 9d.; on passage. 3Ss. 9d. Liverpool "futures," 91i cents; July. GBJ. VICTORIAN PRODUCE MABKET. Molbourno, May 16. Wheat, 3s. 9d. to os. 9Jd. Flour, £3 15s. Oats, Algerian feeding. Is. 9d. to 25.; milling, 2s. 3d. Barley, English, 3s. 9d. to 45.: Cape, 2s. fid. to 3s. Maize. 4s. 4d. 11 ran and pollard, £5. Potatoes, £3 10s. to £4 ss. Onions, £6 ss. BRISBANE WOOL SALES. Brisbane, May 16. The wool sales closed strong nt full rates. There was keen general competition. MIXING NEWS. Mining news will bo found on page 7 of this morning.