COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1913, 22 November 1913, Page 12

COMMERCIAL ITEMS.

INVESTMENT jSHAREB. A sale of Mosgiel Woollen at £3 lfe. was the only transaction in investmeint shares yesterday. The quotations were as under:— Buyers. Sellers. _ ■ . ■ , £ 6; d. £ s. a. Bank New Zealand — 10 17 6 liouitable Building 8 15 0 — WclliuEton Investment .... — 0 11 9 Well. Trust and Loan ... TS i 7 9 0 Christchurch Gas — 7 0 0 Well. Gas (preference) ... 1 0 0 — Standard Insurance — 1 12 6 Gear Meat (£4) 13 3 0 — Gear Meat'(£l) 3 ; 0 — JlosKiel Woollen — 3 11' 0 Leyland-O'lirien — 14 0 Golden Bay Cement — 0 19 0 j\.Zt. Con. Dental 10 9 — Whitcombc and Tombs ... 7 1 6 7 3 0 SEPTE-MBER. BANK AVERAGES. ;The Melbourne "Argus" deals compreheneively with-the banking averages of tho several States of Australasia. Taking deposits by States the following is a comparison of tho amounts in each Stato for the September t.uartor, and the corresuonduw auartor of last year-.— Sept. 30, Sept. 30, 1912. 1913. Victoria 46,132,011 44,353,243 New South Wales ... 56,094,349 54,'691,567 Queensland 20,488,802 21,536,481 South Australia 11,185,751 10,863,251 Western Australia 6,519,941 6,093,934 Tasmania 4,229,025 4,395,698 Commonwealth 144,649,859 141,939,174 New Zoaland 25,181,291 25,552,836 Total 169,831,150 167,492,010 Tho coniparison shows a net decrease ol £2,339,1.40, Victoria showing a decrease or £1,778,768, New South Wales a datreaso of £1,402,782, Queensland an increaso of £1,047 - 679, South Australia a decreaso of £317,480, Western Australia a decrease of £426,007, Tasmania an increaso of £166,673, and Now Zealand an increase of £371,545. While total deposits havo fallen off, fixed deposits show ail increase of £867,417. Turning to advances, otc., a similar comparison is as under:— , Sept. 30, Sept. 30, ' 1912. 1913. £ Victoria, -38,589,532. i 35,741,042 New South Wales ... 48,043,244 ■ 45,598,776 Queensland 17,960,516 16,624,547 South. Australia ... 8,611,873 7,984 192 Western Australia 8,623,588 8,085,410 Tasmania 3,070,709 3,197,83? Commonwealth 124,919,462 117,231,805 New Zealand 24,240,530 23,876,004 Total 149,169,992 141,107,810 The reduction of £8,052,182 in advances, as compared with a year :i;"o, is spread over almost every State,- Victoria showing a decrease of £2,848,490, New South Wales' £2,444,468, Queensland £1,355,969, Soiith Australia £627,681 Western Australia £538,178, and JJew Zealand £364,526; while. the onlyincrease is that of £127,130 in Tasmania. EOYAL MINT. Tlie forty-third annual report of the De-puty-Master and Comptroller of the Eoyal Mint states that nearly 162 i million Imperial coins were struck during *1912, a number exceeding tho highest previous flcure of any year by nearly 34 millions. The Kold coinage exceeded that of 1911 by about 400,000 pieces. The number, of pieces struck in silver has only once been exceeded—namely, in 1910—though the value of the coinage in this metal in 1912 was greater than in any previous year. Tho coinage in bronze- numbered upwards of 77 million pieces of a value of £253,402, figures which are unprecedented for any year Tlie heavy Imperial coinages mado it again impossible to undertake all the colonial orders which wore tendered, and only some 81 million colonial coins were struck in 1912. a smaller number than in • any year since 1890. Tho total coinage of the year amounted to over 171 million pieces of a currency value of upwards of 36J million pounds, tho highest figures on record. A summary of the total number of nieces struck in the Mint during recent years is given.:— • •*, Imperial— 1911. 1912, Gold 36,148,211 36,542,237 silver 43,935,459 48,789,725 ; Bronze 40,846,848 77,161,728 Totals : 120,930,518 162,493,688 ColonialSilver 14,913,870 8,372,130 ' Bronze 8,426,C00 250,000 . Nickel-bronze ... 1,821,491 — Aluminium • .... — — Totals 25,161,361 8,622,130 Grand totals .. 146,091,879 171,115,818 The issue of gold coin in 1912 amounted to a small increase ■ of some £200,000 over 1911 and more than double the averago of the previous ten years. Imperial silver issues exceeded those for any year oxcfjpt 1910, in spite of a further reduction in l tho amount taken by the West African colonies, which has been so marked a feature in recent years. The lacge coinaEo in bronze proved insufficient to meet tho remarkable demand, and recourse was had to an outside firm for tho coinage of penco for tho first time for thirty years. The issue of Imperial bronze coin in 1912 amounted to moro than twice tho average of the previous ten years. The large domand for bronze and silver for circulation in tho British Isles was no doubt largely attributable to the oneration of the National Insurance Act, which came into force in July last year. MEAT FOR AMERICA. Now that tho reaction from high protection in tho United States has enabled meat, to be imported into that country free of duty, a substantial trado is springing up not only for .importation into San Francisco from Australia and New Zealand, but also for importation into the Eastern part of tho Btates from tho Argentine Republic. In thia latter trade tho principal American firms, known as tho Beef Trust, are taking t.lio lead, availing themselves both of the connections established in the Argentino Ropubiic and of their distributing organisation in-the United States. According to the New York "Journal of Commerce" of October 11. all the refrigerated space in the Lamport and Holt steamers from the Argentine Republic, to the end of December if not beyond, lias been taken up, the three firms concerned belnc Armour, Swift, and Sulzberger, who will thus have a good liold of t-be 'new trade, a 3 others may have to wait until additional refrigerating room can be provided, 'l'lie trade will be a permanent one. the first direit cargo of Argentine beef being due in New York early in November, and as the "Journal of Commerce" remarks, it will be looked npon ns o- practical demonstration as to the effectiveness'of the new tariff in reducing the cost of living. It is expected that, in addition to the steamers or tho Lamport and Kolt Line, some of the Nelson steamers, specially built for the Anglo-Argentine meat trade, which have been ncciuired by the Itoval Mail Steam Packet Company, will probably be placed in the trade between the Argentine and tho United States. EXPORTS OE PRODUCE The effect of t.lie strike on the commerce of New Zealand is to bo teen in t,hc export" for the first half of the currcnt month, Tho values of- tho principal pro-

I ducts exported during the period front November 1 to 15, compared with the figures 1 for tho corresponding Italf-month of last / year show as under;— Nov. 1913. Nov. 1912

70,047 412,918 Tho exports during the first half of Novciaher are comparatively small, but the above figures show that only -about one-sixth of the value was exported during tfte first 15 days of this month ®s csinparcd with tlie same period last year. Had there been no industrial disturbance it fa very probable that there Would have heen a substantial mcreOGO, as th-p shipments by th.e Athcnio and Moana would have come into account-. CUSTOMS REVENUE. Customs duties collected at the port of Wellington yesterday amounted to £4247 ss. CANTERBURY MARKETS. (By Telegraph—Press Association.) Ohrlstchurcl), November 21. The local grain market, is absolutely stagnant, no business whatever being doing. The only demand there is is for oatshedf chaff in consequence of the number of horses now in tho special constables'camp at Addington. Even If the strike is endod there is littlo hope of improvement in the grain -market 'until after the; New Year, as the millers aro said to be well stocked with wheat and there are no quantities of oats held in the town or country. FROZEN MEAT. Messrs. Dalgety and Company, Ltd.. hate been, advised by cablegram, dated November 20, by their London office as follows:— "Improved demand at unchanged prices except for forequarters of beef, which ore Id. to 3d. higher since -our last cablegram owing to demand from United States of America. Hinds are unchanged.*' VICTORIA}? PRODUCE MARKETS. By Telegraph—Press Associaiilon-CopyTlehi 1 . Melbourne, November 21. Wheat, 3s. sd. tq 3s. 6d.; flour, £8 Its.; oats, Algerian. Is. 7d. to Is. iHil.; fttfiize, 3s. 9d.; hran, J34 10s.; pollafd, £5- 15s. t potatoes, £1 to £1 10*.$ seeding, £3 to £3 IDs.; onions, £5 to £6.1.05. SILVER. London, November 20. Bar silver is quoted at 27d. per onneo standard. BANK OP ENGLAND RETURNS. By Telegraph-tresS Association—Copyright (Rec. November 21, 10.23 p.n?.)' London, November 21. The Bank of England retorn issued for tho week ended Wednesday, November 19, is as under■ MU-E Dr.rMiTMr.N-r Nots Issue £53,7-11.,003 6ov.dobb - £11,315.000 Other ser.uriUO3 'MM.MO Goia 35.'205,0Q0 £53,711-, (X» £55,744,600 , BiffKlNG DCTAnxjreST. Proprietors' Clcrvt. secui-i----capital £11,563.000 -lies £i1,755-,5)00 Public do- Other securiposits ... 10,611,00.0 lies 27.957,000 Other doposits ... 38.248.C00 Notes ... 25.341,003 Beat, 7-day and other bills... ... 3.2-28.0C0 Coin 1.5,37,000 £66,610X03 £66,610,000 The loading Items at the' Bank of EnSf. laud return afford tho following compari son :— This weak I/aStweok liastyear £ £ £ Bullion 35.ti5.-000 35.123.000 36.1®,000 Besom :M.S6BiOCO 28,615),OO0 27,638.090 Note circulation 2a.403.000 20.277,000 Public Deposits 10, Bill,(SO S),(Ho,oijo 13,tW,000 Other Doposits SMOMOO »MM Proportion of reserve to liabilities... 51.07 55,46 50.67 GOVERNMENT SECURITIES., The following are the latest quotations for Government seimritiSs, with a comparison of those ruling last week;*-"

' BANK RATES OP INTEREST. The Bank of England rate was. on February B, 1912, redticci from 4 to 34 ner cent., and on May 9 it was further reduced to 3 per cent. On August 29 it was raised to 4 per cent., and oft October 17 to 6 per cent. It was reducfd to 4i per eont oil April 17, 1913. On October 2 it was raised to 5 per cent. Tho Bank of franco rate was reduced from 31 to 3 per cent, on January 23, 1906. and continued at tho latter figare until September 12, 19il, when it was raised to 3i per cent. On May 17, 1912. it was reduced to 3 par cent-. -<!fl October 17 11 was raised to 31 per cent., and on. October 30 to 4 per cent. The Imperial Bank of Germany on October 24, 1912, advaaiced its rate of discountto 5 per cent, and to 6 per cent, on November 14. On October 27. 1913, tho rate was reduced to 51 per cent. MARKET SATES 6? DISCOUNT. London Paris Berlin rate. rate. rate. ' .. per per . per cent, oeiif.'- cent. This week 5 33 43-8 Last week 415 ; 16 Ij 4 3-8 Last year 41-5-16 3J -53-8 Short loans are quoted at 4J per cent... as against >4J per -cent- last week end 3J per cent, last year. COLONIAL AND OTHER PRODUCE. Wheat.—The market- i.s firm. There are variable reports regarding this Argentimcrop, but there is little doubt that it will be below the average.. The drought in India- is becoming serious, Cargoes are .firm, and sellers are, asking 3d,'-advance: 365. is being asked for most cargoes, but buyers are slow to follow the advance; 68CO tons Yictorian, per steamer, January ship, jnent, havo been sold at sfe. id., and another cargo at- 365. Australian, on spot, is i in limited supply, and is nominally quoted I at 375. 6d. to 38a. New Zealand supplies aro '• exhausted. ' Flour is quiet. Parcels of patents nearly due have been sold at 245. 75d. to S4s, 9d. p c.i.f. Oats aro Blow of sale, and unchanged. Beans aro firm. New Zealand, ex store, 375. per quarter. Peas arc slow of sale. First quality Maples aro quoted' at 445, Sugar—German beet, 88 per cent, net titre. Is. lower, at- Ss, sd. per cwt.; first marks, granulated, f.o.b. Hamburg, M. lower, at lis. 71d. Butter—The market is slightly easier. Danish, unchanged, »t 120s. to 1305.; choicest Australian, salted, 118s. to 120s : exe-cis-tionally 'choice, 1225.; iinsalted, 116s. to 118s., a few lots-making 1205.; Now Zealand--1225.. t« 1245.: Argentina. 116s. t-o 120s, Cheese—The juarltet is steady. New ijealand is quoted' at '6fe to 655.; WltahW Queensland, is of excellent quality, and landed in good condition, realising 635, to 645, Bradford Tops.—The. markeA is steady, witli a slightly firmer tendency; sliti'fours. ZBd.; super sixties. S7J<}.; common .sixties, 27d.fifty-sixes. 22-Sfl.; finite.'2o* • forty-isixes, 1 Gid.; forties, 15KI. THE METAL MAJIKETS. Copper.—On spot. 10s. lower, at £6? l((a per too: three months', SZs. 6A. lower at £66 55.; electrolytic, 30s. loweir, at, £71' Tin.—On spot, 15s. lower, at £lio lo's, psv ton; three months', 255. lower, at jSI-ji jOw Piir-iron.—Middlesboro' No. 3, 4*d at 49«. lid. per ton. u<sr ' Snelter.-UnchtingeO, at £00 15a. j,er ton. C. B. Fry says: "M'Clintoii's Hibernin Shaving Soap suits my Akin bettor than anything I havo used. It is first-rate Advt.. , . :

£ £ Butter 24,406 134,D71 Cheese 11,556 32 Beef — ' 4 Mutton— Carcasses , — 27 Less and pieces ... — 1. Lamb — ij_9 ■Wheat 3 *i ip 1,477 13*649 Potatoes 2 13,60? Hemp 7,059 16,999 Babbits E,036 268? Tow 2,203 1.29} Kauri sum 763 (fi'l93 Grain an<l jmlse 1,769 6,0-36 Hops — ij Hides 4,533 14 994 Skins 2,541 373', Tallow 497 4,353 Timber 5,127 47,477 Wool 4.5 29.166 Gold 23 ,

, , .' Variation — < ?:ompai^c\ Fi'lcev WHU ■ . jAstjrtgk. £ s. d, 2i% Imperial Consols . 7-2 13 G Unchnhgtii i ,.N.S.W\1933Jao.-.TuU' 10Q 0 0 Unchanged .S.W.1930 -f:0Aj 97 0 & Uiichci-tiged 34 „U.S. W.-3M9-60 89 0 Q Unchanged 3 „N.S.W. 1925 81 0 0 Uncrlittlfjted 4 „ Vic. 1920 Jan.-Ju1y l(Xi 0 0 Unchanged 3J „ Vic. 19-21-6 Jan.-Jijiy Oi 0 ' *i tJuchangiecJ 34 „ Vic, • -88 0 0 UpcfeftnL'M .3 „ Vic. 1929-49Jaii.-Jul.y 77 0 9 HJii«hftn«e4 3i „S.A. 1016 Jan.-Juiy 69 0 0 tfiichnffgo-fl 3 „S.A. 1916 Jan.-Jtily is 0 o. ttnehmgeti i „Q'l'<il015-34Jan.-Jfuly 1® 0 0 Uncbaogea Si ,,Q'l'tllW'2-47JaD--Ju]y yil 0 0 TJnchanficd 3 ..QTdlO&Wan.Julj TO O 0 Uuchako.il ,4 .,N.Z:l!EO.May-Hov. ' » 0 0. UncKS 35 „N.Z. I»12-i0JaU.-J-Uly GO 0 0 UttcHimged 3 „N.Z. IKOApriJ-Oct. fa 0 0 UaehanKed 34 W.A.1915-35 May-Hov 88 0 0 Utxluntse-l i "m May-Nov 7S H 0 VachaujJed di „2as. JKiOJan.-Jijty 69 0 0 ifiidianttvd 3 „Xas. 1920-10 Jan.-Jui-y 81 0 0 Unchanged