COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1878, 11 October 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT BHAEE& There wcra no transactions in investment share 3 yesterday. Tho quotations wore aa under:—

According to the cable messages tho monetary outlook, especially in Taris, 1b unfavourable, and the tone of the London Stook Exchango is depressed. Consols aro down to £72 12s. 6d.. a fall of las. 6d. on the last cabled quotation. Just about this time last year there was a marked slump on the London Btock Exchange and Continental Bourses,.and Paris was then as now the centre of it. Tho slump on the Paris Bourse last year was said to bo moro marked than any since 1870. The leading banks attempted to stem the panic, but there were huge losses. The bourses at Berlin, Vienna, and Budapest were aIEO in a serious condition. Consols then, wont 0,3 low as £72 10s., and recoTercd to £72 17s. 6d.,' and they aro to-day almost at the low level touched during that panic. Tie Bank of England, which usually discounts bills for Its oustomers at market rato, refused to do business below its minimum rate of 5 per cent. Tho outbreak of hostilities in tho Balkans was responsible for the trouble last year, but now it seems to .be duo to the settlement of affairs in the Near East. Paris has had to do most of tho financing of tho Balkans, and is still obliged,, to nurse Its debtors.

TUB TRADE BOOIT. For some considerable timo Great Britain has enioyed a trade boom, marred occasionally by 6erious strikes; to Germany tho slump has begun, and trado is reported to bo slack. In England, Mr, (Lloyd George recently averred that the trado boom was by no meaais at an end yet, but there are other authorities who assert that thoro are certain indications that tho tide is. on tho turn, Mr. Arthur Keen, tho chairman of Guest, Keen and Nettlefods, in his speech at tho annual mooting of that company, tools a pessimistic view of the outlook. Ho remarked that thoro was o. decided lull in tho state of trado, and warned his hearers that they must expect to see a considerable falling-off ill earnings, as the effect _of tho reaction would bo felt in. their selling price? long before they could get commensurate relief in costs. The industries of the country, ho added, wero threatened with nervous depression from over-legisla-tion,' which brought on lassitude and loss of energy and enterprise. BRITISH WRECKS IN AUGUST. The Board of Trado announces that tho number and net tonnage of British vessels respecting whoso loss roports wero received at the Board durine tho month of August, 1913. and tho number of lives lost, are as follow:— Net Lives Number, tonnage. lost. Sailing 50 2,353 37 Steam 10 4,396 41 Total 60 6,749 78 Tho above table is a record of "reports received" in, tho month, and not of wrecks which occurred during tho month. Many of tho roporto received in August Telate to casualties which occurred in previous months. Tho figures includo tho losses of 43 sailing vessels of 1781 tone, and four steamers of 323 tons, belonging to British possessions abroad, involving tho loss of tho lives of 26 persons, all of whom were lost in sailing vessels. Casualties not resulting in total loss of vessels, and the lives lost by such casualties, oro not included. ouatoni3 duty collooted at the port of Wellington yesterday amounted to £ZCO2 ss. <tl. SOUTHERN MAItKETB. (1)7 Takaranh.—Pre» Aatoclatton.) Chrlslchurch, Oc-tobcr 10. Tho local grain market is fitill without life, merchants reporting that there is really nothing doing. There has been a little more inquiry for oatshcaf chaff for coastal shipment. Thoro haa been a further advanco in tho prico of potatoes, and £2 at country stations is now being paid. There is good inquiry from tho North Island markets, though Auckland is E<ud to have received supplies from Oamaru. Growers have been slow to soil lately, and hlghI er prices havo had to bo offered to induce them to make deliveries.

TRUST AGENCY OF AUSTRALASIA. By Tolegraph—Press Association—Copyright (Itec. Ocrtober 10. 10.30 p.m.) London, OctobcTlO. The Tru6t Agency of Australasia has deolarcd an interim dividend of ten per cent.

LONDON MAIIKETS. Messrs. Dalgcty and Oo„ Ltd., TVellington, havo Teeelvcd tho following oablegram from their London office:—Tallow: Good colour, mixed and or beer, Is 3d. per cwt. lower; low and inferior descriptions are unchanged; for mutton, prices arc 3d. to 6d. lowor. and tho market for beef is neglected, ltabbitskins: There ia a good demand, but prices oro from par to id.

per lb. lower, Wool sales: At tho ealcs which dosed on Wednesday, the total auaiitity available Amounted to 176,000 balce. Of this Quantity 4000 bales wore sold to America, 80,000 bales were sold for Home consumption, 66,000 balwj were sold to the Continent, and 36,000 bales wero carried forward. Frozen meat: Tlio market ia quiet, and prices are unchanged,, except for nccond-quallty lamb, which is id. to la. per lb. lower. BANK OF ENGLAND EBTUENB. By Telegraph—Picsa Association— Copyrlfflt (Eec. October 10, 8.20 p.m.) London, Octobor 10. The Bank of England return issued for tho week ended Wednesday, October 8, is as under I6SOE Depuititent

GOVERNMENT SECURITIES. Tho following are the latest quotations for Government securities, with a comparison of those ruling last week:—

BANK RATES OF INTEREST. The Bank of England rato wae, on February 8, 1912, roduccd from 4 to 3j ner cent., and on Hay 9 it was further reduced to 3 per cent. On August 29 it was raised to 4 per cent., and on October 17 to 5 per cent. It was rcduced to per cent, on April 17, 1913. On October 2 it was raised to 5 per cent. Tho Bank of Franc« rato was reduced from 3J to 3 per cent, on January 23, 19C8, and continued at tho latter figure until September 12, 1911, when it was raised to 3J per cent. On May 17, 1912, it was reduood to 3 per cent., on October 17 it was raised to 3J per cent., and on October 30 to 4 per cent. MARKET RATES 07 DISCOUNT. The following arc tho market rates for best three months' bills:—London Paris Berlin. rate. rate. Tate, per por per cent. cent. cent. This • week 4 11-16 32 43 Last week 4 3-8 33 4$ Last year 315-16 3 4i Short , loans aro Quoted at 33 per cent., as against 33 per cent, lost week, end 2 per cent, last year. COLONIAL AND OTHER PRODUCE. Wheat.—The market is quiet, but steady; 365. 6d. ifl c«kcd for Australian, off coast; thoro is little demand for Australian- carpoos, owing to tho abundance of Northern llanitobian wheat, which is of excellent quality an-d cheap. Rupiriice of Australian, on spot.' oxo practically exhausted, tho nominal value being 38s. to 385.-6 d.; small supplies of New Zealand aio offering .at 365. Flour is steady. Australian patents on passage aro freely offered at 255. 9d. f ci.f., bnt buyers ere scarce. Oats.—Thero 'is a small business aolmr; old A-£fra<lo Gairtons are quoted at 235. to 245.; Sparrowbiils, 225. 6d, to 235. 6d. Beans aro neglected. There have> been a few spot sales at 355. to 35?. 6d. Peas are firm. No. 1 Now Zealand maples, on epot, 445. to 455. 6d. Butter if dull with <i slightly co?ier tendency; prices ore "unchanged pending the arrival of new Victorian. Bacon is flat. Australian is quoted at Sugar.—German beet, 89 per cent, net tltre, 2d. higher, at 9s. sd. per owt.; first nrnrk granulated, f.o.b. Hamburg, 6d. higher, at 12s. 3d. .... . . Bradford Tops—There is better inquiry, but tho turnover is small. Sixty-fours, 29d.: super sixties. 28£d-t common £ixti©3, 28d.; flfty-eixes, 223 d.; fifties, 2Qid.; fortysixes, 163 d.; forties, 153 d. THE METAL MARKETS. Copper.—On tipot, 375. 6d. lower, at £72 £2 15s. lower, at £185 ss. per ton-; th-rco months', £2 12s. '6d. lower, ©/t £186. , __ _ , Fte-iron.—irtddlesboro' No. 3. Is. 7d. lower, at 535. per ton. , Lead-Soft foreign, 2s. 6d. lower, at £20 7s. 6d. per ton. • Spelter, unchanged, at £21 per ton. BABBIT SKINS. London, October 9. The rabbit skins roles closed with prices unchanged. 3030 vrero Bold.

Buyere. Bollem. £ s. d. £ 5. d. Bank New Zealand — 1018 6 National Bank i ? 0 5 8 0 Wellington Investment ... — 0 11 9 Well. Trust and loon..... 7 2 0' — ChristchuTch. Gas — 7 0 0 Feilding Gas — 014 0 Standard Insuranoo 1 12 0 112 b Gear Meat (£4) 12 10 0 - Union Steam ;ord.) 15 0 16 6 Lerlond-CBrien — 1 < 3 Golden Bay C«mont — 10 0 N.Z. Con. Dental — 12 0 Ward and Co 4 18 6 — W.F.O.A. (£5) — 7 2 6 TV.F.0.A. (£1) - 1 S 0 MONETAE# OUTLOOK.

Note Iuuo i52.627.000 Gov.debt - £11.015.000 Othor eecurltiej ... 7,434.000 Gold 84.178.000 £52.657,000 £52.627.000 f ELNKINO DEPiKIMEMI. Proprietors' Govt. secnricapital .£14.553,000 ties £14,448.000 Public do- Other eeonriposits 5.003,000 ties 25.523,000 Other doposits ... 41.215.000 NotflS ... 23.303.003 Best, 7-day and othor _ bills 8,181,000 Coin- _ 1,536,000 £64,942,000 £64,042,000 Thg leading itom» of tho Bank ol England r«turn afford the following companion:— This week Last ir«ek Last yaar £ £ £ / Bullion ... ... 84,178.000 86,039.000 86.418,000 Roservo 24,031.000 23,412,000 27,163,000 Notoolrcul&tlon 29.232,000 23,635.000 20,171.000 Public Deposits 6.003.000 0.743.000 10.S57.000 Other Deposits 41,215.000 39.630.Ctt) 45,298,000 Proportion of reserve to liabilities... 52.79 53.23 48.81

{ Variation M compared Fricii with last weak. £ «. d. 23% Imperial Consols 72 12 6 12/6 lower 4 ,.N.S.'W'.1933Jau.-July 99 0 0 Unchanged 3i ,.N.S."W.1930-50Mr.-Sp B7 0 0 Unchanged 85 x * "'-1020-50 60 0 0 Unchanged 9 , 19£>Apl.*Oct Bl 0 0 Unchangod 4 M ww. ±u'20 Jan.-July 100 0 0 Unchanged 8J „Vic. iy-21-6 Jan.-July 94 0 0 Unchanged 3j „ Vic,-1929-49 63 0 0 Unchanged •8 „ Vie. lO-iO-^Jan.-July 77 0 0 Unchanged Si „S,A. 1916 Jan.-July K9 0 0 Unchanged 3 „S.A. 1316 Jan.-July 73 0 0 Unchanged 4 , t QTdl915-24Jan.-July 101 0 0 Unchanged 3J 93 0 0 Unchanged 3 „QTdl92i'l7Jan.-July 78 0 0 Unchanged 4 „N.Z. 1920 May-Xov. 93 0 0 60s lower „N.Z. 1912-40Jan.-July ,90 0 0 Unchauged 8 ,,N.Z. iy-20 April-Ocfc, 77 0 0 Unchanged Si „W.A.1915-35 May-Noy 68 0 0 Unchanged 3 „W.A,1915-35May-Xo? 79 0 0 Unchanged 8i ,,1'as. J&OJan.-July 69 0 0 Unchangod 3 ,,'Xas. 1920-40 Jan.-July 81 0 0 Unchanged