COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1764, 31 May 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. Tho nalcs recorded yesterday were Y. rollineton Gns at £16, Westport Coal at ZCs. Sd., and Tariiißamutu Totora at 455. Tho uuotaiions were as under:— Buyers. Sellers. £ s. d. £ j d. National Bank (new) 4 19 0 - Metropolitan. Uuildmc .. - 12 9 0 N.Z. Loan and Mercantile 0 10 3 — Well. Investment Oil 0 — Well. Trust ancl Loan .... 7 3 6 — Well. Deposit j J J Christchureh Gas lIS RUlToriln ClilS 2 4 U Wellington Gas (£10) 16 0 0 16 5 0 Well. Gas (pref.) 10 0 National Insurance — Z 4 u N.Z. Insurance = 20 "T Meat Export (£4) 4 15 0 5 0 0 ileat Export (sas. 6d.) 2 19 0 N.Z. ShinpiiiE 1° 8 6 ~n Union Steam — J J \ Well. Woollen (prof.) — 2 16 0 nikiirauKi Cool 0 12 6 Tarincamutu Totara 2 4 6 , n - Golden Hay Cement - 1 Ward and Go 4 19 0 W.F.C.A. (£1) .. ~ 1 8 6

COLOXIAL MUTUAL LIFE. As compared' with tlio figures of tlio 1911 balance-sheet, the new business of tiie ordinary branch of the Colonial Mutual Lifo Assurance Society. Limited, for tho twelve months ended December 31, 1912, shows an increase of more than £130,000. There has been a decrease in that of tho accident and industrial departments, which on tho threo brandies results in a shrinkage of £273.120 in new business, the total of which represents £5,219,343. In tho ordinary branch during the term under review, policies wero issued assuring £3,227,/37, and annuities amounting to £9773 per annum, tlio onnual incomo uridine from the policies being £123,201. In the industrial brancn 39.758 policies were issued, assuring £1.278.560, and in the accident department laß2 policies, assuring £713,045, have been completed. Claims in the ordinary branch matured by death amounted to £183.015,,cnd endowments to £74,056. Claims matured in tho industrial branch figure at £6152, and endowments paid at £1293. In tho fieeident department tho amount of claims paid or outstanding aro shown at £6808. Tho addition to tho assurance fund of the ordinary hranch durinc the year was £86,265, as compared with £138,961 in 1911, and tho rato of interest yielded by the fuud was £4 7s. lOd. per cent., as aeainst £4 7s. Bd. in tho preceding year. Ino amount of £32,155 has been written off tho value of securities, and 'the directors proDoso to continue writing down the property account until a higher return than 4 per cent, can bo obtained therefrom. Tho ratio of expenses to premium income. 37.18 per cent., is slightly liizher than that of 1911. but in tho circumstance such a movement w not a matter for surprise.

AUSTRALASIAN BANK AVERAGES. Tho bank avoraeos for tho whole of til© Commonwealth and for New Zeal/ind lia\© been compiled by tho They arc of considerable interest, in view of the continued stringency of money, and show that deposits and advance havo each declined bv nearly three millions sterling durinc tho year. Hero are the figures for tho last five years compared:—

Incrcaee in Increase in Deposits Advances. 1909 927,667 704,275' 1910 13.004,649 2,913,320" 1911 , 15,923,541 13,251,526 1912 8,831,771 14,820,549 1913 ' 2,918,539* 2,988,015* •Decrease. Tho a.bovo table shows clearly the trend of affairs durins the years it covers. Tho ficiiTes may bo set out in another form as follow:— 1 . Excess of Deposits. Advances. Deposits, jferch, £ £ £ 1909 ... 137 012,959 122.361,381 14.651.578 1910 ' 150,017,608 119,448,061 30,E€9.547 1911 165,941.1'9 132.699,587 33,241.562 1912 174,872.920 147,520,136 27,352,784 1913 171,954,381 144,532,121 27,422,260 Taldne tho past three years, tho movements in the principal totals between the March ouarter, 1910. and the March Quarter, 1913. are shown na follow:—lncrease in deposits (three years).- £21,936,773; flecreaso in notes in circulation, £3,255.649; net increase in deposits <md notes. £18.681.124: increaso in advances. £25,084,060; Increase in, cash, £4,689,998. CUSTOMS REVENUE. Tho Customs duties collected at tho port of Wellington yesterday amounted to .-M7SO 16s. Id.

SOUTHERN GRAIN MARKET. (By Telegraph. —Preys Association.) Chrlstchurch, May 30. Tho local gnato market ia exceptionally craiot .iust now merchants generally tcportinc that thero is nothing doing. No busino-;a in oats is etpcotcd until tho orders to hand have been oomploted, and tho export trido with the United Kingdom lis at a standstill, until cheap frcishts are affiliable. In tho meantime irrovrcra are holding firmly. and are not offering either wheat or oat 6. The potato market is weaker as tho northern centros are weLl supplied for tho time heing. The best priccs now offered ore £3 find £3 3s. 6(1. at country stations, but there ore few sellers. BANK OF ENGLAND RETURNS. • By Telegraph—Press Association— Copyright j (Ecc. May 30, 8.30 p.m.) London, May SO. Tho Bank of England return issued for the week endod Wednesday, May 28, is us under Issue Department Koto issua £54.735,000 Gov. dab t ... i 11,015,000 Other secarltlG9 ... - 7.CM.000 Gold 80.286,0C0 £51,735,000 £51,735,000 BINDSQ DEPIKTitr.ST. Pronrlotors* Govt, sflcurlcapital £14.503,000 ties... ... JEX2.503.000 Pnblic da- ©tlier securiposits ... 13,863.000 ties 50,089,000 °posita° ... 39.715.000 Notoj • ... 26,456,003 | Best, 7-day B.nd otbor bills 3,257,C00 Cela- ... 1,431,000 £71,383,003 £71.328.000 Tho leading items of tho Bank of Enrr» land return afford tho following compa-n-This weak LaafcwfiQk Lasfcys&r £ £ £ Bullion . 86.286.000 36.248.000 37,880.000 ' Reserve .. 27.b97.000 27,770.000 28.61)6,0C0 Note civculfttloa 2f1.260.WJ 2ti.3M.0G0 26.M5.000 Public Deposits 13.863.0 X 13,04G,UC0 20.14b.000 I Other Deposits 39,715.000 40.720.0 X 41.290.000 Proportion of reservo to II pliabilities... 62.04 50.80 46.76 [ GOVERNMENT SECURITIES. • The following are the latest quotations • for Government securities, with a com- • parison of those ruling la€t week;— • Variation 3 — compared • Prlca. with \ _____ last weok.

BANK BATES OP INTEREST. The Bank of England rata was, on February 8, 1912, reduced from 4 to 31 per cent. and on M.ty 9 it was further rcduccd to 3 por rent. On Aunust 29 it was raised to 4 per cent., and on October 17 to 5 per cent. It v,rcduccd to 41 per ccnt. on April 17. 1910. • The Bank of France rate was rcduccd from 31 to 3 por cent, on January 23, 1908, and continued at the latter figure until Septembor 12, 1911, when it was raised to J! per ccnt. On May 17, 1912, dt was reduced to 3 per cont., on October 17 it was raised to 31 por cent., and on October 30 to 4 por cont. JIARKET BATES OF DISCOUNT. The following aro tho market rates for best three months' bills:— London Paris Berlin rate, rate, rate, per per per cont. cent. cent. This week 3 11-16 33 51 Ixist week 33 33 55 Lost voar 3 23 4 Short loans arc auotcd at 31 per cont., as nzaiiHt 3ft per cent, last week, and 2J per coiit. last year.

COLONIAL AND OTHER PRODUCE. Wheat.—Tho market is inactive. Australian, on spot, is quoted at 40s. por quarter. Flour ia steady and unchanged. Australian patents, ex store. 2fo. per sack of aro slow of sale. La Plata, AprilJlny shipment, arc ofTcrim: at 15s. 9d. Beans and peas are quiet and unciinneed. Butter—Tho market is dull. 'Choicest Australian is very scarce, and is nominally at 104s. to lOfe.: secondaries, 965. to ICCs.; choicest New Zealand, 112s. to 1145.; Siberian. IOCa. to 102s. Cheese—Tho market is firm. New Zealand white, 615.; coloured. 595. beat, 83 use -cont, upt

titrfl 3d. higher, at 9s. 4d. per cwt.: first majks eronulatcd, f.o.b. lUuiiuurß, 4(1. luu'li-"ilradfor/'l'opE.-Tho .market is nuict but firm, and prict-fi are unchaiiKca.

THE METAL MARKETS. Conner—On spot, 6s. 3d. lower, at £68 Efl. 9(1. per ton; threo months. Is. Jd. lusher. a Vfn.-On stot. £5 10s. lower, at £216 per ton; three months. £3 lower, at £213. Pie-iron.—Middlosboio No. 3, 3s. lower. tt \,ead. "loft foreicn, 10a. higher, at £19 17s. f<d. per ton. Spelter, 2£-o. lower, at £23 per ton. BANK OP NEW SOUTH WALES. By Telegraph—Press Association— Copyright (lice. May 30, 8.30 p.m.) 1 ■ . Sydney, May 30. At the half-yearly mectinc of the Bank of New South Wales tho report, wli.icjii was adopted, showed a net profit of £235,746. to whieii ha-i to lie added £E4.8J8 broudit forward from the previous half njak* iiic a total available for distribution of £370,584. Tho dividend at tho rate of 10 per cent, per Kimrnni, absorbs £156,338! there is added to tho nrovident and Buckland funds £25, CM. audio tho reserve fund £100.000, leaving to bo carried forward ~Tiie president In his spoceli stated tjiat the rublio deposits had increased by several hundred thousand, but not nearly bo larere an increase as has been upual diu 1 - ine t.ho Iftft few years. Tho canso of this chanso had been touched upon in previous l-oif-yoarly addresses, and so long as lmrorts approximate to exporta it wao not likely tliot there would bo gro-wth in tho taviiiir. of tho people. With Rood seasons, cood prieos, a.nd a wholesome cconom they I may with socio confidence expect a Teturn I to the normal ucxsiticii of tho last few yeare.

VICTORIAN PRODUCE MARKETS. Molbnurno, Jtay 30. Wheat. 2<=. 9d. to 3s. 91-d.: flour, £8 155.; cats. Algerian feeding. Is. lid. to 2a 2d.: milling. 2s. 3d. to 2s. 4d.; ba.rley, malting, English, 3s. 0(1. to 45.: Capo >. lOd. to 35.: maize. 4s. 5d.: bran and pollard. 55.: potatoes. £3 to £4 Us.: onlono, £7. LONDON MARKETS.

Messrs. Dalgety and ComDany, Ltd., Wellington. have received tlio following cablegrams from their London oilicc. under dato May 28 and 29:—Tallow: For good colour, mixed, or beef, prices aro 3d. to 6d. per cwt. higher; low and inferior o.ualities aro 3d. higher:. good colour mutton is unchanced. Frozen meat: The market is ouiet. Lamb is 3-8(1. and mutton Jd. lower. Frozen beef is nominally unchanged, but chilled is from 2d. to Id. per lb. lower. SILVER. By Telegraph—Press Association—Copyright London, May 29. Bar silver is quoted at 27 11-16 d. per ounco standard. WHEAT. London, May 29. Official quotations for wheat:—Prices for South Australian and other Australian ports a.ro unchanged. Liverpool futuree, 904 cents: July, 893 d.

£ %. d. 21% Imperial Consols 74 15 0 2/fi towor 4 N.S.W.3933Jan.-Tuly 10-2 0 0 Unchanged 3i * , N.S.W.1030-50Mr.-Sp 98 0 0 10b higlior yi '* & \V..1930-50 MOO Unchanged 3 ! N.S.W.1925 Apl.*Ocfc 82 0 0 Unchanged i ' Vic. 192U Jan.-July j 10110 0 Unchanged 34 "Vic. 1921-6 Jan.-July- 95 0 0 Unchanged yi "Yic,-W-.M9 | 01 0 0 Unchanged 3 \\ Vie.lU29-40Jan.-Jnly j 70 0 0 Unchanged yj''s, A. 1016 Jan.-July i OL 0 0 Unchanged 3 js.A. 1916 Jan.-July j 75 0 0 Unchanged •l ,, Q , rdrJ13-24Jan.«Jitljr; 101 fl 0 Unchanged iii 95 0 0 Unchanged 3 r, Q'rdi02i!.47Jan.-July' 78 0 0 Unchanged 4 "N.Z. 1029 Slay-Nov. 101 0 0 Unchanged 3i ,','x.Z. "ini2-40 Jan.-July. 00 0 0 Unchanged 3 ,Is'.Z. 1U20 April-OcS. [ 7ti 0 0 Unchanged 3i "\V.A.1013.35May-Nori 88 0 0 Unchanged 3 ,, \V.A,1915-25 May-Novl W 0 0 Unchanged 3i ,,1'as. l&zOJan.-July 00 0 0 Unchanged 3 „Tas. 1920-10 Jan.-Julyj fc3 0 0 Unchanged