COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1854, 13 September 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. In investment shares there 'were sales yesterday of Bank of Nerw Zealand at £10 lis., Westport Coal at 28s. 9d., and Wilson's Cement, ordinary, at 295. 3d. The quotations were as under:— Buyers., Sellers. r is. d. £ s. d. National Bank 5 6 0 — ■ N.Z. Loan and Mercantile (pref.) 97 0 0 — Wellington Investment ... — 0 11 9 Well. Trust and Loan ... 7 1 0 7 2 6 ChriGtchurch Gas — 7 10 Wellington G®3 (£10) 15 17 .6 Standard Insurance — 1 j2 3 Cihriatohoreh, Meat v. i-.. 115 6 0 — Gear Meat, (£1) 3 16 — Meat Export (525. fid.) ... — 3 2 6 Union Steam 2 4 6 — Wellington Woollen (ord.) — . 4 10 Wellington Woollen (pref.) 2 19 0 — Golden Bay Cement ....:. — 10 0 N.Z. Portland Cement ... 0 15 6 —. Sharland's preference ... 1 1 0 — W.F.C.A. (£sl - 7 2 6 W.F.C.A (£1) - 18 3 AMERICAN WOOL STATISTICS] . The actual, wool production, importation, and consumption of the United States, according to the acknowledged authority of the "Annual Hevievr" of the National Association of Wool Manufacturers, Boston, for tho past five years, are as under C'onsumpFiscal Production. ImpoTts. tion. Year. lb. £ lb. ISO 7-8 298,294,750 125,980,524 418,648,811 1908-9 311,138,321 266,409,304 574,023,650 1909-10 ...,328,110,749 , 263,928,232 587,983,508 1910-11 321,362,750 137,647,641 450,804,692 1911-12 ... 318,547,900 193,400,713 > 510,228,743 Tile production in 1912-H fell to\ 304,043,400, so that since 1910 tho shrinkage has amounted to '24,067,3491b. In the past four years tho decline has been stoady and continuous. Even under tho enormous barrior of prohibitive wool and meat duties tho 6heep flocks of tiio United States have not beenj ablo to hold their own, for during the past year they 1 decreased by 1,163,C46 head, and produced 14,504,5001b. less, equal to, say, 46,200 bales of Australasian wool. Tho decrease in the flocks is attributable to an increased demand for meat and encroachment by settlement and agriculture upon. ths sheep pastures. • I WOOL FOR AMERICA. Messrs. Dalgcty and Co., in their annual "Wool Hoviow," point out that there are great possibilities ahead for Australasian wool in America. The "Review" says"What then must bo expected to happen during the free wool and free meat period immediately ahead, where tho population of the country exceeds 93,000,000. fouls. Tho fac.t that the annual slaughtering of. cattle, ns well as of sheep, are made in excess of tho natural increase, that the masses have a greater liking for a meat diet than formerly, and are in a' better position to satisfy their desire, points to croat possibilities in the near future. The solution is simple. With free wool and meat, tho flocks of tho United Statea will in all probability bu reduced to a vanishing point. Thorefore, with hut little local production of 'wool, and the doors of tho nation (expanding in popuJaticin ■ audi woalth) open, it is obvious that an enormous .weight of Australasian wool will, bo required annually, and whilst tho growers of our extra super wools may bo losers, all Australian wools will, in future, como under tlie scope of the' American demand to tho great benefit of the large army of flockmosters in Australasia, aa well as tho Australian nation and Dominion of New Zealand as a whole. Of course, thero is no certainty that wo will 1 -benefit immediately from ,any, big demand for wool from U.S.A. Stocks 'of wool and woollen goods are admittedly low. In that country, but at tho present time the general purchasing power of tho people is crippled temporarily by financial stringency, which, severe as it is tho world over, ia ; perhaps worse in the United States than elsewhere. It is hard to say how, when, and where Americans will operate, but at present, everyono interested in the Australasian wool trade hope.s that the expansion in the demand for wool for that country will manifest itself during the coming colonial wool-selling' seaeon." Customs duty collected at tho port of Wellington yestlerfay amounted to 2959 13s. 6d. •CANTERBURY ORAIN MARKET. (By Telegraph.—Press Association.) Christchurch, September 12. The local grain market is still in a d-ull state, thero being little inquiry, and very little offering. Those farmers who still hold grain are not willing to accept ruling rates, even if offered, more particularly in cases where e. higher, price lvaa declined porno time ago. Tho potato market is very quiet, and thei, price is still 255. at country stations, with little business doing, MARKET REPORT. Messrs. Balgotyi and Company, Ltd., Wellington, liavo received the following from their London office '.—Frozen meat: Lamb—Prices are Jd. h(gher. MuttonMarket is firm at last, quotations. BeefPrices aro id. higher. Tho increase in prices for frozen meat has affected tho demand, but holders aro firm. Sheepskins: Competition is good. Merino combing— Prices axe par to id. liigh'r. Merino clothing—Prices aro id. to 3-Bd. higher. Crossbreds—Prices are par to Jd. higher. Tallow: Prices aro 6d. lower for good colour (mixed and) or beef, mid low and inferior dc-criptioni are 3d. lower. There is more disposition to do 'business at the decline. Mutton tallow 1«, however, neglected. SHEEPSKIN PRICES. Tho New Zealand Loan and Mercantile Agency Company, Ltd.. have received the following oablogram from their London house, under date Septemher 11:—Sheep-skins-Crossbred, short and shorn, id. dearer; others, part to id. dearer. Moists. Murray, Roberts and Co., Ltd., ireeniVod a. cablegram yesterday iJrom their London agonts, Messrs. Sanderson, . Murray and Co., dated September 11, 0.9 follows:—"Sheepskins; tho market has advanced id. to Jd. per lb." BANK OF. AUSTRALASIA. By Tclograph—Press Association— Oopvrisht London, Setpember 11. Tho Bank of Australasia has declared a dividend of 14 per cent, and a bonus of 12s. per share. To tho Reserve Fund there lias been carried £50,C00, and the Premise* Account £20,cc0. Tho staff has been voted a, bonus of ten por cent, on salaries, and there has been carriod forward a sum of £29,192. SILVER., •' By Telegraph—Press Association— Copyright London, fioptemher 11. Bar silver is quoted at 27Jd. per ouneo standard. VICTORIAN PRODUCE. By Telegraph—Pre=B Association—Copyright Melbourne, September 12. Wheat, 3s. 9d. Flour, £8 ss. Bran and pollard, £5. Barley-English, 3s. to 3s. 9d.; Capo, 2s. 9d. to 2s. lid. Oats—Algerian, 2s. 2d. to 2s. 3*d. (net, ex store). Maize, 3s. 6d. to 3a. 7d. Pons—Duns, 4u. 9d. to 4s. lOd. l'otatoos, £1 sa. Onions, £6 10b,' to £6 15s. . i

BANK OF ENGLAND RETUIiNS. By Telegraph—Fress Association—Copyright (Roe. September 12. 5.50 p.m.) London, September 11. The Bank of Knglnml return issu.".] for tho week ended Wednesday, Septern* ber 10, is as under:— Issue Department Nolo lesii* £59.320.000 Gov.clobG '••£11,015.000 Other fiocuri- . 4 tioa 7,434.000 GoU 40.577.000 £59,306, COO £59,^26,000 BINKINd DEPAItTUEN'T. Proprietors' Govt. Gccuricapital • £14,553,000 ties £12.453.000 Public da- Gtber securiposits ... j D.000.000 ties 25.523.000 Other ria- ! posits ... 43.555.000, Notes ... 30.277.003 Best. 7-day amlothor bills... ... 3.694.CC0 Coin... ... 1,553.000 X7O.StI.CQJ £70.511.000 Tho leading itomj of the Bank o! Eng. laud return afford, the following comparison:— This weak Las& wook Last ysar £ £ £ Bullion 40,677.000 41.691.000 40.840.000 Reserve 31,53y,U0J Ji*J.*247,oiXJ 31.WW.000 Note circulation 29.0-19.0u0 '29.4153,U'AJ 2iJ.959.1HX) Public Deposits U,W9,CtO ( .).520,G00 15,513.000 Other Deposits 44.5WJ.000 Proportion of reserve to liabilities... 60.54 59.59 49.60 GOVERNMENT SECURITIES. The following are the latest quotation for Government securities, with a comparieon of those ruling last week:—

BANK GATES OP INTEREST. The Bank of England rato was. on February 8, 1?!2, reduced from 4 to 3j per cent., and on ilay 9 further reduced to '3 per cent. f ,On Aueust 29 it was raiEed to 4 per cent..-and on October 17 to s.per cent. It was reduced to 4i per cent, on April 17. 1913. The Bank-of Franco rate was reduccd from 3J to 3 per cent, on January 23. 1908, and continued at the latter figure until Septembor 12, 1911, when it was- raised to per cent. On May 17. 1912, it was reduced to 3 per cent., on October 17 it was raised to 3j| por cent., and on October 30 to 4 per cent,. . • MARKET KATES OP DISOOONT. Tlio following aro the market rates fur ocst three months' bills:— . - London • Po-rii Berlin rnto, rate, rata por per per cent. cent. cent. This week 3 U-16 33' 5i Last vreok 33 5} Last ycftr 33 4 6 23 4 3-8 Short loans aro quoted at 2i par cent, as against 23 per cent, last week, and Z per cent, last year. ■ COLONIAL AND OTHER PRODUCE. Sugar—German beet, 88 por cent, not tit-re. Id. higher at Pa. 7d. per owt.; first marks granulated-, f.o.b. Hamburs, Id. lower at 12a. 3d. ! , Bradford Tops.—The market Is mora cheerful, but thero i's insufficient business dloing to test, prices, whicll aro . nominally unchanged. THE METAL MARKETS. Copper.—On spot, 7s. 6d. higher at £72 IDs. per ton: three months, 2e. 6d. lower at £72 12s. M.; electrolytic, 35e. hither at £77 ss. Tin.—On spot, £5 15s. lower at £193 ss. per ton; three months, £5 65., lower' at £192 ICS. ; ; Pig-iron—Middlesboro' No. J, 1?. 2}d. lower at 545. 9d. per ton. Lead, eoft foreign, 10s..lower at £20:.10s. per ton. \ Spelter, 6s. lower at £21 ss. per ton. Noto.—A Press Association message from ■Syt l ineyt datcdj September 1/'. 0.16 a-Tn.. etated. 1 ttot no advice, of the English graifi a,nd butter quot-atipns had been received.

Variation _ comparod rricft. witli . last week. £ s. d. 2$% Imperial Consols 73 30 0 Unchanged 4 N.S.W. 3933 Jan.-July 300 U 0 30s lower 3} ..N.S.'W.lUSO-cOMr.-Sp D7 0 0 Unchanged 35 „N.y.\V.-iOuO-5U fa9 0 0 Unchanged 3 „N.S.W. 1925Apl.*Oct 60 1U 0 Unchanged 4 „Vic. 192U Jan.-July ICO 0 0 Unchauged 3$ „ Vic. 19"21-(i Jun.-July 'J4 0 O Unchanged i *.Vic,-l9*29-49 88 0.0 20s lower ! 3 „Vie.39£Q-49Jan.-JnIy 77 O'O Unchanged 1 US „S,A. 191U Jan.-July fc'9 0 0 Unchanged! 3 „S.A. li)16 Jan.-July 73 0 0 Unchanged,' 4 „QTdl915-2J Jan.-July 101 0 0 Unchanged 33 „ : Q'l'dl92ii-i7Jan.-July 93 0 0 Unchanged I 3 „CJ'rdl9 , 22-47Jan.-July 78 0 0 Unchanged I 4 „N.Z. 3929 May-Nov, 101 0 O 20s lower 1 3$ „N.Z. 1912-40Jan.-July 90 0 - 0 20s lower I 3 „N.Z. ll>20 April-Oct. 77 0 0 Unchanged I 35-W.A.1915-36 89 0 0 Unchanged 1 1 9 „W.A,1915-35May-Xov bl 0 0 Unchanged I <5j K'iOJan.-July 69 0 0 Unchanged ' 3 „Xft3. isJ&MQ Jan.-July bl 0 0 Unchanged