COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1937, 20 December 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. The sales in investment shares recorded yesterday were:—Union Steam at 19s. 6d., and Taupiri Coal at 20s. 10id. The quotations wcro as under:—

ANNUAL MEETING. The ninth annual general meeting of the United Building Society of Wellington was held in tho Accountants Chambers, Johnston Street last evening, Jfr. 11. ltawson (chairman) presiding. The report and balance-sheet, which were adopted, stated that the profit, for the year in the First Kund amounts to £135 2?. 2d. Tho balance at tho credit nf the profit anil loes account being now £4150 Gs. lid. During tho year two appropriations nero held in .this fund, oji«! by ballot and one by tsalc, tie litter yielding a profit of £270.

I The profit for tho year in tho Second Fund f.moimts to £144 lis. Id.; And during tho year an appropriation hy sale wa s held, refusing a profit of £215. As su£T£P6ted «L» u wt< ? r3 . in their last annual report., they submitted proposals for the anmigeniation fo tho first and second »!!?'» 1 a< ! with tliis proposal, special meetings of the members of the lir.->t and sficond fund* were held on April Ji # y respectively, and the proposals for amalgamation a-3 submitted by tne directory wore adopted, and took effect on May 1, 1913. One appropriation by ballot has been' hold in the amalgamated iuna, and the directors hope to have an appropriation .by sale early in tlio New l ear. In discussing the report, Air. »T. A. Tripe urged, that some member present should move in th« direction of granting tho secretary an increaso in salary. From his position as solicitor to the eociety, lie knew l!° of work that devolved on the ft 1 i O - 1 " 0 le secretary, and ho thought M "dary Bhould bo increased to £200 per year. The chairman explained that this matter had already been considered on a previous occasion. According to tho rule? of the society, aJofsr?. A. Younpr and J. D. SievwrJeht retired from the directorate, aud, on offering 1 themsclevs for re-election, were dcelarod elected osnin unopposed. Ifr. E. i shareholders' auditor, wai? also elected unopporsed to the position, his remuneration to bo the same as last year.

HOTEL SALE. A large transaction in hotel properties' wa3 completed this week by Messrs. Dwan Bros., who have disposed of the freehold and furniture of the Gretna Hotel. Taihape, on account of Mrs. Gibbons. Tho purchaser is Mr. Walter J. Jorgcneen, lato of the Calodonian Hotel, "Wellington. The property consists of freehold 1J acres in the best part of Taihape, on which is erected the Gretna. Hotel, a number of shops, bample-rooms, public hall, etc. This hotel is considered to bo on# of the leading inland hotels in the Dominion. The amount of tjie purchase rune into a big'figure. Arrangements have been made for Mr, Jorgeneen to take possession next Monday. The Customs duty collected at the port of Wellington yesterday totalled £2261 lfo. 9d.

TIMAHU WOOL SALES. (By Telegraph —Press Association.) Tlmaru, December 19. At, tlie wool sale to-day 7447 bales were offered and 6821 sold. The wool was in Eood condition and better grown, but owing to tli3 plentifiilness of feed wafi rather heavier in condition than usual. Tho -Dominion mills took all the small quantity of merino offering and most of tho One lialfbred. Brokers coltsider the salo a satisfactory one, and the prices fuily up to present London equivalents* The Tanso of prices was as under, tho last Dccemher prices being in parenthec-iMMerino, 9d. to UJd. (9Jd. to 123 d.); super lialfbred and Corriedale, lid. to 12d. (12Jd. to 14d.); medium, 9id. to 103 d. (llid, to 12Jd.); inferior, Sid. to 9'id. (9Ad. to lid.); three-quarter.and' crossbred super, 93d. to lid. (12d. to 13Jd.); medium, B},d. to 9jd. (IOJd. to 113 d.); inferior, 7d. to BJd. (9d. to lCd.); best pieces, 9d. to IOJd. (lOltl. to 123 d.); medium, 7d. to £3d. (Bd. to 93d.); inferior, 5Jd. to 6d. (7d. to Bd.).

LAND AND MORTGAGE CO. Auckland, December 19. At the general meeting of tho ?s T ew Zealand Laiiid, Mortgage, and Iliv©r Plato Company in London on January 6, tho directors will recommend a dividend of 10 per jcent. per annum for the year: tho interim dividend' paid to bo deducted therefrom. The approximate amount of profit js £70,093. The total reserve fund will bo £435,000, GRAIN MARKETS. Christchurch, December 19. The inquiry for wheat remains unsatis- ; fied, as those growers who still have any I stock are -holding firmly. Some of t'.io I larger millers are well -supplied, but smaller ones renuire to replenish their stocks, and tho demand is aJI tho keener because the wheat, harvest i 6 likely to bo short. The oat market is easier, ae there is very littlo demand, and tho new oat cTop. t with fair weather for tho harvest, is likely to bo much larger than is required. The demand for chaff lias eased off, and tho price is not so firm. bank op England returns. By Telegraph—Press Association-Copyright (Rec. December ID, 8.35 p.m.) London, December 18. Tlie Bajik of England return issued for the week ended Wednesday, December 17, is as under:—

ISSOE pEPAr.TITEN'T Kote Issue £52.693.003 Gov.c'iobt -'£11,191,030 Othov security ... ... 7,431.000 Gold 34.i!44,000 £52,693,000 £52,693,000 I Banking Department, Fioprietore' Govt, escuricapital £14,553,000 ties £11,191,000 Public do- Ctlicr sccuriposits ... 8,028,000 tics 27,018,000 Other deposits ... 37.4G4.C00 Kotos ... 23.5D7.00D Rest, 7-clay • and other bills... "3.4H.0C0 Coin £63.456,000 £63,456,000 The leading items of tho Banli of England return afford the following compari* eon This weak Last week Last year Bullion 34.244,000 31.401j.0C0 Reserve 25,075,000 SG.-ICO.COO £2.170.030 Note circulation 88.796.003 US.KO.OOO 28,754,000 Fublic Deposits S.Oifi.OOC 7,hD9.0C0 11.301,000 Otbov Donosita 87,464,000 39,515.000 40.241.000 Proportion of reservo to liabilities... 55,10 55.85 12.98 UOVERNJIEItT' SECUEITIES. The following are the latest quotation! for Government securities, with a comparison of those ruling last week:—

BANK KATES OF INTEREST. Tho Bank of England rato wae, on February 8. 1912, reduced from 4 to 3J ner cent., and on Slay 9 it wan 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 reduced to 4* per cent, on April 17, 1913. On October 2 it was raised 1 to 5 per cent. Tho Bank of Franc* rate ras reduced from 3j to 3 per cent, on January 23, and continued at the latter figure until September 12, 1911, when it was raided to 3J per cent. On May 17, 1912, it was reduued to S per cent., on, October 17 it was raised to 3J p«r cent., and on October 30 to 4 per cent. Tlio Imperial Bank of Germany on Oc. tober 24, 1912, advanced its rate of discount to 5 per cent, and to 6 per cent, on Novembor 14. On October 27, 1913, tho rato was reduced to 5J per cent. J MARKET ItATp6 OF DISOOCNT. Tho following are tho market ratei for best throo months' bills:— " London I'aris Berlin rate. late. rato. per per per cent cent. cent. This week 4J 34 <5 Last week 41318 35 4j Last year 5 33 G -•Short loans aro quoted at 4J per cent... ao against 4J per cent. last week, and 4i per ccnt. last year. COLONIAL AND OTHER I'KODUCE. Wheat.—Tile market is lifeless, and thero is absolutely no speculation: millers aro pursuing a hand-to-mouth policy. Cargoes aro (iuiet, Argentine shipments are offering freely. There is little Australian on spot obtainable, and the quotation is nominally 385.; Now Zoalaml is exhausted. Flour is dull. There In a retail demand for Australian 011 spot at 265. 6d. buyers, Zis. sellers; January shipment quoted at 245. 9(1. and 255. c.l.f. Oa.ts.-JTliera is practically nothing doing, and prices aro easier. Deans are steady,' but quiet. New Zealand, 36?. 111. ex store. Iter! «ro quiet and unchanged. Butter.-Tile market is Blow. Danish is nuchangod at. 130s. to 1325.; colonial is weak: Australian, life, to llßs., very exertional loti making 1205.; New Zealand is exhausted; 120s. landed if being asked for tlio AUicnlc't thlpmont, duo DcZemlior 50.

Cheese.—The market ! "Is .!• firm ;Wid::unchnuged.

Sugar.—German beet; 88 . jier •• c<mt£ 'net- 1 litre, Id. lowm* at B*..lid. iiLr : f marks granulated, f.o.b : Hamburg, t-Zi'l: lower, at lis. Id. • 'V;'/' Bradford Tope.—trosnbred 'fire' wcakei', but merino* are more active Ti 1 "" quotations for fut«rcs • srrcSisty-fouf*.-. 2id.; super sixiiot?, 26£ d.; cunnmsii pjxtie?? 26d.; fifty-sixes, £ld.: ilfttaiv i&iiiL.; • furly-'' sixes, 15d.; forties, 14Jd. THE IIETAIi MAKKETS.SJ®S; Copper—On spot, 3fc\ lower' per ton; three mouths,>lOa. A 'lower'••at;:£G4 7fi. 6d. " '1 ,;V y'\ Tin.—The market is wok. manipulations. On spot. £3 12s. 6d. Slower at £169 103. per ton; threo" montlis^';2!>a;-' lower at £171 ss. Pig-iron.—MidtUceboro' N0.•'3, , -t4sd.<bifihor at, 50s. 2d. per ton. ■ Lead.—Soft foreign, • ss. lower-at £17. 15a. per ton. Spelter, 10s. higher, at LONDON M.AEKEa^/''v' :V ' ; ||Vd Messrs.' Dalgoty £iid Company, .Llinite<C havo been advised by cablegram from tivoir 1 ' London offlcc, dated December 18, ns fol-' lows:—Sheepskins: A 6 compared with last,' sale's rates, merino combings are 3*Bd. per' lb. lower. Merino clothing id. per lb. lower, and merino shorn pelts id. per lb/1 lower. Crossbred, fine combing skins Id. lower, coarse and medium id. to gd. p-er lb;, lower. For shortovoolled and shorn pelts,prices are unchanged. Frozen meat: Tho market is firm, Sincc our last cable prices aro Id. to id. per lb. higher for mutton and lamb. Beef: Pricea are •unchanged. Tallow: Prices in general aro unchanged. There in a very small demand for beef tallow. Tho nest public sales will bo held on January 7. FROZEN MEAT. hlcssta. Gilbert, Anderson and Co. 'ITessrs, Mcllsop. ELiott and Co., local agents), writing under date Loudon, November 7, report as follows:—

Home-grown, in moderato supplies, ami a firm trade. Beef: Scotch. GJd. to 63d; English, 6d. to 6Jd.; Canadian, 5Jd. lo 6a'. Mutton : Scotch. 71d. to Bd.; English, 7d. mj 7id.; Dutch, 6d. to 7d. Ewes, sd. to si(l. Tegs: Scotch. 7Jd. to Bid.; English. 7S.d. to 73d.; Dutcli, 7d to 71d. ocotcfi. Hill lambs, 6jd. to 7d. Veal, ?d. ta 85d. Porli, 6Jd. to 73d.. Frozen.—Business less dull. . Best New Zealand lambs ueltißs very short- Prime Canterbury, under 361b., out of recent steamers, fetch sgd. Plenty of ordijiarjCanterbury at 5 3-Bd. Australian lamb arrivals gradually increa.siiijr. and prices are rather lower. Canterbury sheej), weaker by reason of individual sale* at lower priccfi. Best New Zealand sheep firmer. Chilled foreqtiarters of beei in short eupply. Smithficld Pricss. . llutton— ■ ■:■■■ Uiirtor 481b. 48-Seib. E6-Mlb. 64-7211). Canterbury 4ij 4J Q — Wellington 45 4J 4J ■ 1 4 1 8 Ordinary New Zoa- ■ siland 4J 4 3-8 4 3-8 Ewa;.—New Zealand. 43-641!'.., .3 13-lSd.: Australian. 3S-501b., 3 11-16 d. Austrnlian sheep, 30-Mlb., .3 13-15d v : 50-701b„ 33d. South American, 55-'?'2lb„ 4 1-Sd, ~ ■ Lamb— TTndcr " 361b. 36-4?lb 42-501b" - ' d. d. Canterbury sg-S 3-0 55-51 6-43 Wellington — — — Ordinary Xew Zea. land 5} ' 4J-5 '■ v4J■ ■■ , 'Australian— East, 53.421b., Sid.; fair, 'j l-16c1.: inferior, 4id. Beef—New Zealand, fores 33d.. hinds 4Sd.; Australian, crops 33d., Hinds' 4 3-fel.; South American, fores 3 9-Md„ liincla 4i(l. Ohilied American, fores 32d., hinds 5 3-Bd. WOOti SALIiS. By TaloEraph—Press Association—Oopyxicht Sydney" December 19. The wool sales have closed with strong and animated demand at previous week's level for all bettor grades. Mediums and coarsii were irrcsular; greasy, to 15Jd. per lb.

BHEBPSKISS SALE. London, De-comber 18. At tlie' eheepaMns eaies, 6900 Australian hales wero offered and 62C0 sold. Tiiero was a fair attendance, but irregular competition, compared with October sales. Merino combings declined 3-Sd„ clotitings Id. to 3d., lino crocsbre-d combings id., coarse ditto 3d., clothings 3d. Tho New Zealand Loan and Arercnfitile Agency Company, Limited, have received tlie following cablegram from tlveir London house under date Dceetnber 18:—Sheepskins: Merino and crossbred combings aro about Id. to 2d. lower, and others about par to id. lower. Messrs. AV. and G. Turn hull and Co., Ltd., report. having received the following l cablegram from their London house, under date December 18:-Crossfired fuil-woollcd, ilno declined jd. to Jrt.; crossbred fuli-ivool-ed, coarse declined id.; crossbred half to throe-quarter-woolled, lino declined Jd.to?d. LEAD. London, Heccmber 18. Leaid imports, 18,790 torn; Australian. ! 7308; exports, 5333. WHEAT. Cargoes are dull, and there is no bidding. VICTOBIAX PEODTJCE MAEKETS. ' Melbourna, December 19. Wheat, os. 5Sd. Hour. £0 lo». Oats, Is. 7d. to Is. 9Sd, Barley, English, 3<i. 9<j, to 3s. 6d. Maize. 3s. 9jd, Bran. £4 10s. Pollard, £4 15s. Potatoes, £4 to £4 10s. Cuidns, £j lfrj to £V.

MINING NEWS. s . WELLINGTON SHARE MARKET. - The traneactione in mining shares retarded yesterday were Progress at 7s. <id,, and Waihi at 525. The quotations were as follow Buyers. Seilcru. £ s. d. £ s. d. Murray Creole (new) — *0 12 6 New 13ig River — 5 5 0 New Sylvia —' G i 0 Bora Reconstructed — G 11 3 Talisman 2 2 9 2 3 6 Waihi 2 12 6 : 213 0 Wailii Grand Junction ... 1 4 i 1.50 'Premium. - ' STOCK EXCHANGE. (Br TelecraDh.—l'fes3 Association.) ; Auckland, * December lf>. 'Stock Exchange sales to-day:— Auckland Gas, £1 7s. 9d. Tsow Zealand Portland Coment, 12s. lid. . Waihi, £2 lis. 9d. N Talisman Consolidated, £2 Js. - ■ Waihi Grand Junction, £1 ii. 9d„ £l ss. P.oi'3 Goldliclds, 10s. Ltd., ICa. lid., 10s. Sd. lieported salos:—Bank of New S!co.land (ex div.), £10 IDs.; Waihi, £.2 lis. 9d. Bunedln, December 19. Tlio following Balo was mado on thu Stock Exchange to-day:— Wcstnort Coal, £i 9s. LCd, The following sales were repotted'Westport Coal, .£1 10s.; Boss Goldflelds, U*.Talisman Consolidated, £2 &. 6d.

MOUNT MORGAN BETURJCS. ' By Telenrasli—tresa .a swdatifln-CnpyrleM Brisbane, December 1?, Tho Mount Morgan returns for tiwmtrthrea days ended December 14 show that 22,395 tons o£ ore yielded 453 tons of copper and 5956 ounces of gold, a total value of £72,293. LONDON MINING QUOTATIONS. London. Beceinber 38. Yesterday's Hosing quotations were:— Waihi, -£2 lfts. (buyers!, £2 12s. 6d, (sellers); Grand Junction, £1 «s. 6d. and £1 6s. 6d.j Talisman, £2 and £2 2s. 6d. CHANGING HABITS. It is always the aiaii who won't get out of bed who is most difficult to rouse; and to do something different from your usual manner of doing it means a change of habits, aud habits are the very dickens to change. You possibly have decided that the only man who can make your clothes is tho man that is doing it now, but, pecliaps, other people who see the way you dreis do not think so. Tho man who is not quite sure of tho quality of his tailoring is thsj man wo would like to nee. If lie waists individual stylo wo can give it to him, but make no extra charpo for our superior cutting. Our 90s. Suit, tailored to your special order, is made from the bcst'iingiish or Colonial materials. We can send you samples of these freo if you cannot "sea them personally, or our repre.scntati»ecan call and take your measure. It is high time you placed your order for a summer suit. Will you entrust it tu us? THE SARTORIAL SERVICE, LTD., 04 Willi., Street, Wellington.

Buyers. Sellcra. £ t. il. £ s. d. Bank Nrn Zealand 10 15 ft — Hank N.2. (rights) 4 0 0 — National Bank 5 6 0 5 7 6 Well. Trust and Loan ... 7 5 6 7 9 0 Christclmrch Oae — 7 0 0' Well. Oaa (£10) - 17 0 0 Well. Gas (prcfcrencc) ... — 1 0. .0 National Insuranco — 2 11 6 Standard Insurance 1 12 0 1 : 12 6 Gear Meat (£4) 13 0 0 — Gear Heat (£1) .370 - Union Steam (pref.) 0 19 3 — Westport-.Stoekton — 0 4 0 Westport-Staektoit (prcf.) — 0 9 0 0. II. Banks, Ltd — 13 9 N.Z. Con. Dental 110 — W.F.C.A. (£1) - 15 6

Variation — .conjpaied Fi'ica. with - l&sli weak. , • i £ s. d. 2*% Imperial Consols 71 5 o io s lower 1 ,.N.H.W.1933Jan.-J«ly 98 0 0 Unchanged „N.S.\V.1930-50Mr.-Sp 97 0 0 Unchanged 35 „N.S.W..M3(WiO fc9 0 0 Unchanged 3 „N .S.W. 19-J5Apl.«Oct B1 0 0 Unchanged 4 „Vic. 392UJau.-July 09 0 0 20s higher i)i „Vic. m-G Jan.-July M 0 0 Unchanged Si „ Vic,-UiiSMO 88 0 0 Unchanged 8 p .\ic.l9-2g.WJan..July 70 0 U Unchanged 3a „S,A. 1916 Jan.-July 67 0 0 Unchanupfl 3 „S.A» lOlii Jan.-July 73 0 0 Unchauged 1 , p QTdl915-2JJan.-July 98 0 0 Unchanged 1* ",v'!'?}M?' 4 S an, i uly 83 u 0 Unchanged 2 'S'/S, 1 Ja, !:" Tuly ™ » 0 Unchanged 4 „!>./. 11)29 Jlay-iiov. CO 0 0 20s higher a "v''/' ?"!n1 0J "?o J ' ,ly 63 0 0 Unchanged q!"wi'2?;i °v 73 0 0 Unchahged H "w'f?ni^^ ay -J: ov £> 0 0 Unchanged d ..JJ.A.ma-JSUay-Nov 70 0 0 Unchanged 31 ,,1'as. MOJan.-July S7 0 0 UnSri 3 „ la.s. 11)20-10 Jan.-July to 0 0 [jnchanged