COMMERCIAL NEWS.

Dominion, Volume 6, Issue 1776, 14 June 1913, Page 10

COMMERCIAL NEWS.

INVESTMENT SHAKES. The 6alc3 recorded yesterday were Oliristchurch Gas, at £7 lis. 9d„ and WestportStockton Coal, at 3s. 3d. Tho Quotations wcro as under:— Buyei'3. Sellers. • £ s. d. £ 6- d. National Bank (old) '— * 5 5 N.Z. Loar>& Iter, (pref.) 96 0 0 99 0 0 Well. Trust and Loan .... 7 4 0 _ Ghrlstcliuroh Gas 7 10 0 — S.B. Insuranco ' 3 il 5 Standard Insnranco 1 10 J Ohristehurch Heat 15 10 0 — Jf.Z. Shippiun 15 12 6 - Union. Steam 2 10 2 2 0 Taupiri Goal 1.1 9 - ; West-port Coal 1I 1 „ '~ e ' Wostport-Stocktoa Oof o o a Golden Bay Cement ■ — lot Slwirland's preference .... — lL ° Ward and Co 5 10 - BANK OP NEW SOUTH WALES. Tho balance-sheet of tho Bank of New South Wales for tho half-year ended Joren 31 will bo found on. another page. Iho hank has experienced a very prosperous half-year, and the usual dividend was declared. The year, accordins to the chairman, was ono of considerable activity, in, dealin!; with the salient features of tho balance-sheet, tho chairman remarked as follows:— ~... . "Tho deposits show very little ottanso 06 compared with March, 1912, beine in the acirrcEaio only £6<i4,C00 less. Tins is actually more than ae-eouutcd for by a a=-croa-o in tho Government deposits all round. Tho Commonwealth Government dopot'its in the various States were transferred to the Commonwealth Bank on the openinc of that institution m JantKvy laut, and tho various State Governments have kept smaller balances at this end of tho world than, has been their custom in the post. The deposits from the penoral public show an inorcoso of aevorul hundred thousand pounds, but not nearly so largo an increase as has been. Kual cliirins the last few yews. Th 3 caiuo of this chance in the incidence of bankine busincos in Australasia has been touched upon in previous half-yearly addresses. Ag lons as imports approximate to exports there is not likely to.-be a growth in the ravinss of the people taken es a whole. \y lth Kood season* and eootl prices, and a wholesomo economy in exrcndiiture or outro. we may with some confidence expect a return to what may be fairly claimed to bo. the normal position of the last few year*. "Turnins to the side, com and Australian note.3 en hitrhor by .€1.382,CC0, which'is the counterbalaneini! factor referred to in my remarks on tho other bank balances included with bills payable. Bill., receivable in London or on tho way • here arc about ■ f765.CC0 hi K hcr-onr business been very , active. 1 I;* total of what wo toko «■■' our more liquid resources amounts to whicn rnpro'ents an increase of £2.-6C0.000 on k>f* year's figures ond may be considered very full for alt requirements."

SOUTHERN GBAIN MARKET. (By Telcerapb,.—Presa Association.l Chrlstchtirch, Juno 12. Thoro is HUM change lo noto.ro tho grain market, except that there is rather moro inquiry from the North Island Tor oats. Offering from growers still continuo very scarce. There is on improvement in the potato market, consequent upon the North Island centres becoming shorter of oupplies. however, to growers having pitted their crops, thee are few sellers, though merchants are offering £3 &., and, in some casce, *>> lwat country stations. LONDON MARKETS. Messrs. Dalgety and Company, Ltd., have received tho following cablegrams from their London office under date .June 1.1:— Tallow: The market is very quiet. Piimo mutton is a shade easier and other descriptions are unchanged. Tncro is very little competition. Under dato June U:Frozcn meat: There is an improved demand, and prices are firm at last quotations. BANK OP ENGLAND KETURNS. By Telegraph—Press Association— Copyright (Eec. Juno 13, 8.50 p.m.) London, June 13. The Bank of England return issued for the week ended Wednesday, Juuo 11. is as under:— •

ISSUE DEPiBTHFSKT Kote Issue «1,720,000 Qov.cUbt ■•• £11,015,000 tfther securities 7.414.000 GoU 26.277.0C0 jE5J.728.M3 £51.726,000 B4NHNO Depitstjiext. Pronrietors' Gevt. socurlcapital UUSUa ■ tics.... ~. £12.803.000 Public de- - Other lecuriposits ....13.816,000 lies 31.0U.00. °%%t ... 40.114.C00 N.tei ... 26.377.003 Best, 7-day and other bills 3.2H.C03 Cola 1.573,000 £71/757,003 £71.757,000 The leading item 3 of tho Bank of Enzland return afford the following compartThis week Last week Last year £ ■ £ ' * Bnlllon 36.277,000 36.005.000 . 39.612.003 R"" 0 'r"o 27.010.000 27,411.000 50.753.000 Note circulation 28,860.000 iM.64q.TO 28.756.00J Public Deposits 13,610,000 33.«70.0C0 32.230.0* Other Deposits 40.141,000 33,713,003 59.7b7.0U0 Proportion of reserve t» liabilities... 51.73 62.27 49.57 GOVERNMENT SEOUHITIES. The following are the latest quotations for Government securities, with e comparison of those ruline: last week:—

BAHK RATES OF INTEREST. The Banlt of England rato "was. on February 8, 1912, rcduced from 4 to 3& per cent., and on 21ay 9 it was further rcduccd to 3 ncr ccnt. On August 29 it T/as raized to 4 per ccnt., and on October 17 to 5 per ccnt. It was rcduccd to 4$ per cent, on April 17, 1913. , j The Bank of Frascc rato was rcduccd from 3i to 3 per cent, on January 23, 1908, and continued at the latter figure until Septcmbor 12, 1911, when it was raised to 3J per ccnt. On May 17, 1912, it wa-s reduced to 3 per cont., on October. 17 it was raised to 3i per cent., and on October 30 to 4 per cent.

MAPvKET KATES OF DISCOUNT. The following are tlia market rates lor best throe months' bills:— London Pari3 Berlin rate, rate, rate." per per per cent. cent. cent. This week 4 7-16 33 5 5-8 Last week 315-16 33 61 Loot year 23 23 * Short loans aro auoted at 3i per cent., as against 3J per cent, last week, and 25 per cent, last year.

COLONIAL AND OTHEE PRODUCE. Wheat.—Two Australian cargoes sold at 38s. per quarter. There is a steadier demand for cargoes, but restricted. Australian', on spot, is quiet at 40s. Flour is steady. Australian patents, May shipment, 275. M. Oats are quiet. La Plata, July-August shipment. 16s. 9d. Beans and peas arc quiet and unchanged. llutter is quiet. Danish, 115s. to 1175.; Australian, choicest salted, 104s. to 1065.; ununited secondaries are neglected at 98s. to 1003. No New Zealand butter is offering. ~.„,.', , Cheese is steady. New Zealand coloured, 58s. to 595.; white, Ms. Su"ar.-Uerman beet, B3 per cent, not titre" 23d. lower, at 9s. 2d. per cwt.; firstmarks, granulated, f.o.b. Damburz, a farthing lower, at lto. Id. Bradford Tops.—The market is quiet. Sixty-fours arc quoted at 30d.; other counts are unchanged. THE METAL MARKETS. Copper —On spot, 10s. lower, nt £65 7s. 6d. per ton; three months', 2s. 9d. higher, at'£6s 7s. 6d. Tin—On spot, 10s. lower, at £200 per ton; three months', 15s. higher, at £208. Lea<!.-Soft foreign, £20 5s per ton. Pig-iron—Middlesboro' No.. 3, 3s. 3d. lower, at 545. lOd. per ton, Spelter, 10s. lower, at £22 7s. 6d.. per ton.' VICTORIAN PRODUCE MARKETS. By Telegraph—Pres3 Association—Copyright Melbourne, Juno 13. Wheat, 3s. Bid. to 3«. 9d. Flour, .28 156. Oala Algerian feeding, le. lid. to ?.s. 2d.; milling. '2s. 31d. to 2s. 4d. Barley. English, 1, 9d. to 45.; Ca.po. 2s. lOd. to 3s. Id. Ilran "id. poll*rd. £6. Mato, to. W, VtWMt, £i

~~ Variation _, comparfid Frica. with last week. r £ «. d. "W, Imperial Cenasls 73 5 0 69 lower I N.S.W.1933Jan.-July 101 0 0 Unchanged 35 "N.S.W.1930-50Mr.-Su 97 0 0 Unchanged 81 "N.f.W.-lD30-00 80 0 0 Unchanged 9 "N.S.W.t9'25Apl.-Oct 82 U 0 Unchanged i Vic. 1020 Jan.-July 09 0 0 Jncliant'od 3i "Vic. 1921-15 Jan.-July 93 D 0 Unchanged 3J " Vic-Iftffl-19 91 0 0 Unchanged 3 Vic. 1829-19 Jan.-July 77 0 0 Unchanged 3i ' S.A. 1916 Jan.-July 89 0 0 40s loner 3 "S.A.1J16 Jan.-July 73 0 0 40s lower 4 "QTdl915-3J Jan.-July 99 0 0 Unchanged bi "QTdl9i>-47Jan.-July 93 O' 0 Unchanged 3 "QTaifflitfJan.-July 76 u 0 Unchanged i "N.Z. 1929 May-Nov. 100 0 0 20a lower 3* "N.Z. ll>12-10Jan.-July dS • 0 0 Unchanged 3 "N.Z. ltVOApril-Oct. 77 0 0 BOs lower , 3} 'W.A.1915-M May-Nov B8 0 0 Unchanged 3 ..W.A'.IUIS-Sullay-Nov SI 0 0 Unchanged 3i ,,1'as. IWOJan.-July 68 0 0 Unchanged 3 „Tas. 1920-10 Jan.-July bl % 0 0 Unchanged