COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1765, 2 June 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. There were no transactions in inrestr ment shares on Saturday. Tho quotations wero as under;— Buyers. Sellers. £ s. d. £ s d. National Bank (new) 4 19 0 — Metropolitan lluildmg ... - « » u Well. Investment 0 U i - Well. Trust and Loan .... I 1 Well. Deposit 0 5 3 Christchurch Ga.s < 1 J> ' Well. Gas (£10! ' ~ I Well. Gas (pref.) 10 0 ~ N.Z. Insuranco 6 - " c n n Meat Export ~ ■?X t | Union Steam 2' 4 - ° Jtosgiel Woollen — " u i Hikiirangi Conl 0 la 6 Wcstport Coal 16 9 ~ Taringamutu Totara, •;.... 2 4 6 Z a 6 Donaghy Rope and Twine - f ' " Golden Bay Cement } S ? j Sharland's ordinary 1 10 i * 0 Ward and Co 4 19 0 — W.F.C.A. '£5) • - u 'j Tho course of. sales during the past month was as under: - National Bank (new), £4 195., £4 19=. 6d„ £4 19s. 9d., £5. , National Bank (old), £5 3s. ! Union Hank, £59 15sNational Mortgage, ii Wdlfngton 5 Gas '(£10), £16, £16, £16, £16. Gas (preference), 20s. 4d. N.Z. Insurance, £5 Is. jd„ £5 3s. Meat Export (525. 6d.1. 595. 6d., 60s. Union Steam (new), 435., 43a. 3d., 435.. 435.. W uiiion"sWa'm (old), 435. 9d., 435. 9d.*, tts. 9d„ 435. 9d. Mosgi'el Woollen, £3 12s. * Wellington Woollen (old). £3 12s. 6d. Wcstport Coal. 275. 6d„ 275. 6d„ 275. 6d., 275. 6d., 275. 6d„ 275. 9d., 2fo. 9d. Taringamutu Totara. 455., 45e. Golden Bay Cement, 20s. N.Z. Consolidated Dental, 21s. 6d. Ward and Co., £5. BANKING AND SECURITIES. Interesting'statistics liave recently been compiled by tho "Statist' regard to British banking, in which the position of individual institutions oa well as in tlie mass ia dealt with. It is stated that during the last fourteen years British, banns have been subjected to experience's of an extremely trying character, and have survived the ordeal in a manner which sflcaks volumes for tho soundness of their methods. Banking in Great Britain is conducted on somewhat dilTerent lines to thoso followed in other countries, and .-they arc not exposed so much to violent changes in economic conditions. Their holdings of cash, sums employed in the short loan market, and gilt-edged securities repre-' sent over half their liabilities to the DUblic, and thus they can meet sudden demands without embarrassing their customers. Since 1899, however, tho depreciation in tho market value of high-class securities has been abnormal, and bankers nave had to set asido out of proflts largo sums for writlot.* down investments. Somo idea of these iosses can be-gained from the fact that tho average return on high-class British securities at tho end of 1898 waa £2 14s. 3d. per cent, per annum, whereas at tho end of 1912 tho average yield iva,s .£3 13s. lOd. per cent. In other words, .the declino in the price of securities mainly held by bankers for investment was 28, per cent. It is difficult, adds the "Statist, to exaggerate the strength of British banks ■ ftt the present time, or to over-estimate tlie advantages that will accure to them in futr lire from the soundness of their position. It is held that" should trade activity receive a check from the recent events in other parts of Europe, tho effect on the welfare of Great Britain would be small and temporary, and would bo speedily followed by fresh expansion. : INSURANCE IN LONDON. "The Times" of April 15 describes tho reductions made in firo premiums on London city warehouses within one mile of tlie lloyal Exchange. Tho question, of a revision of. rates has been under, consideration for some time, and when the firo offices were approached this year by tho warehousemen after a good year they pooled their experience, with the result of concessions being decided upon to an extent.representing in the aggregate probably from 15 to 20 per cent. Tile revision is according to three rrroups. The normal rate on the larger buildings has in many cases been reduced by fid. or Is., so that a number of buildings previously rated <it 2s. 6d. will be rated at 2s. per cent., these reductions being mado oil account of improved conditions or better construction. The class of smallest warehouses is not affected. Tho discount allowed for automatic sprinkler installations, previously ■ ranging from 10 to 45 per cent., ho.s been increased by 10 per cent, where there are two or more water supplies, and by 5 tier cent, where there is only a single water supply. The third class of reductions has to do with tho extra, block rates, applicable to buildings in proportion to their proximity to tho centre of tho danger zone in tho Oripplegate area. The 20s. block rate is reduced to 165., the 16s. block rate to 145.. the 4s. block rate to 25.. and the 2s. *6d. block rate to Is. 6d. In arriving at tho new rates attention has been paid to tho width of streets and the number of, windows, as well as proximity to the centre of tue danger zone.

FEIIiDINO PP.ODTTOE MARKET. Messrs. A. 11. Atkinson and Co., Ltd., , Feilding, raport liiat at their sa-lo on Fri- j day potatoes were easier,.and were selling: at from ls. t-o 2s. per bap under Jatc.rates. They quoteTablfc potatoes. 83. to 9s. per sack; pip, 3s. to 3s. 6d.; pollard', lis. 6d. to 12?.j hran» 65.; wheat, 4s. fid. per bushel; pig meal, lis.-, chnfif, 45.; onions, 10s. to 12s. per cwfc.; apples, 2«. W. t-o 3s. |;er half-case: pears, 2s. 9d ■; cauliflowers Bs. to 95.; per bag; cabbages, 6s. to 75.; pumpkins, Bs. GRAIN AND PItODUCE. Oamaru, June 1. Farmers refuse to sell at the present ouo* tati'ons for wheat, and business during the week ha»? been restricted to a few small lots. Velvet has brought from 4s. to 4s. id. net on trucks. Jlcd chaff has been taken ot 3s. lOd., tuscan at 3s. 9d.; ifarshalls at 3s. 65d., and solid straw at os. 6d., all reducible by brokerage. There is tlie same restricted business ill oats, very few line® beine offered. "A" Grade Gar ton 3 have fetched 2s. 3d. net on trucks. Cowcrass has sold nt 9d. and lOd. not delivered at store. There is an improvement in oatsheaf chaff, and a jrood many transactions have taken place at <£3 7s. 6d. net. but as high as .£3,153. was given for a pood lino There is a good deal of difference in the samyits. and the latter price may bo accepted as a deal for prime lots. Very little husiness is boins done in potatoes, and £3 16s. net ou trucks is the general quotation, but for small lines to fill immediate requirements £4 and £4 2s. fid. havo had to be conceded to obtain tUcrn. LONDON MARKETS. IST Teleerf oh—Press A«oe>artou—Copyrichl (Rec. June I, 5.30 p.m.) London, May 31. Copra ia in £ood demand. South Sea, in bags* £23 10s. per ton. Cotton.—May.«7unu shipments of American middling cotton arc clearing at 6.38} d. per lb. Jute.—Native ftr?t marks, May-June shipment, £29 IsO. per ton. N. 2. Hemp.—Tho market Is dull. Fair grade, June-August shipment, £26 15s. per ton. Kubbcr.—Fine hard Fara rubber is quoted at 3s. BJd. per lb. IMg-iron.-The corner having collapsed, pig-iron is now quoted at 616. 6d„ a fall of t»s. 6d. per ton nnce Thursday. Antimony is <(Uoted at £8 per ton for 50 per cent ore. Alumiuium is selling at £92 to £95 per ton.