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COMMERCIAL ITEMS.

THE STRIKE AND GOLD. The strike of railway servantß and others in South Africa, is affecting tho transport of gold as well as tho production end this will cause coneidor-ablo inconvenience to the European, mohoy markets. Tho Transvaal is now the principal sourco of suppiv ol the yellow metal, and Europe ha-s became accustomed ■Uj !: lo6king'>for the weekly EJiipments. The quantity and value of tho gold produced on the Band in recent years are as under:— " Oz. * "' 1909 7.299,413 31.005.939 1910 7.532,322 31.955,266 -1911 8.237,7 a . 35,041,483 1912 ; 9,124,299 38,757,560 '1915 , 7,448,523 31,639,314 'Ten months. Besides the Band thero ie the cold production of Hhodesia, which will alto be hold up. The production of Kbodesia in 1912 was valued at £2,707,368, and for tho ten months of last year for which returns ore available, £2,409',546. * THE P. AND 0. COMPANY. Tho reports and accounts for the year ended September 30, 1913. of the Peninsular and Oriental Steam Navigation Company state- the position of the company with a fullness which is a model, not eo much followed by most shipping; companie6 as it should be. For the flrst time ■ tho proes revenue i 3 shown, amounting to £4,993,948, making, with mail money. £305,000, a, total of £5,298,948. From this are deducted the oiternal charges, £1,429,876, leaving a net revenue of £3,869,073, agahut for 1911-12, and-£3,404,627 So* 1910-11. Charges .of various descriptions absorb £2,830,113, against £2,553,100 for 1911-12; interest on :dobenture stock, £63.000, against £63,009: insurance charges, £24,293, against £179,747: and depreciation £459,918, against £496,161; leaving a net profit of £491,743, against £239,523. The preferred dividend is 5 per cent., and the dividend and bonus on deferred stock amount to 15 per cent. The General balance-sheet show 3 a capital of £3.500,M0, including £2.3<0,0C0 in preferred and £1,160,000 in deferred stock. Adding 31 per cent, debenture stock £1,800,000; reserve £1,374,009, contingent fund . £405.000. provident good service fund £50,000, sundry balances and accounts not closed £1,035,555, and working account surplus £260,133,' the balance-sheet total is £8,469,669. The fleet etands at £3,375,990, and payments on' account of new ships £847,751." Amongst other assets are, include cash and investments (les3 acceptances), £3,725,735. Tho report refers to the establishment of tho contingent fund. It is pointed out that expendituro hoe risen to a serious point, and is likely to romain at this high level, while the company may have to face a declino in freights and lesser profits next year. The directors havo also before them tho problem of a now mail contract, which is always a critical episode in the company's history. Looking at these facte. ana that there is already a. feeling of depression in tho freight market, the directors consider that, in order to secure, sis far as possible, tho present satisfactory level of dividend, tho steps taken, in promoting a contingent fund are entirely in the best in. tcrests of the'proprietors. With reference to the Australian trade, the report states that it was disappointing as regards Homeward freights, chiefly owing to a decrease \n the amount of refrigerated cargo. 'Customs duties collected at tho port of Wellington yesterday amounted to £3227 6s. lid. SOUTHERN GRAIN MARKET. (By Telegraph—Preen Association.) Chrlstchurch, January 15. A few samples of new oats and barley have been shown on the local market, but no spies are yet reported. The oats are Algerians, and for .those Is. 6d. at country stations has been offered, but not accepted. The barley ehown was discoloured, but it is expected that the later harvested crop will be much fetter. Some new Italian ryegrass seed has also been offered. There is no disposition on tho part of grain merchants to make purchases of anything but wheat. In the case of oats, it appears as if tho United Kingdom will be the only outlet, and there is therefore no speculative, tone in the market. •' „ LONDON WOOL SALES. By Telegraph-Press Association—Copyright London, January 15. At the London wool snles there was good competition for all sort 3 at full rates. (Rec. January 16, 10.36 p.m.) London, January 16. Jtercmero" clip realised 12id. (top), and IOJd. (average). Jtcs?rs. Dalgcty and.Company, Ltd., havo received advice from their London offi>o by cable, dated January 15, as follow.— "Wool salC9 continue firm and oetive. with brisk competition. For merino, good and best dualities, change if anything is in fellers' favour, but prices aro irregular for heavy and wasty Qualities. Scoured mcrInoe* and crossbred prices unchanged as compared with Inst sales' closing ratco. INVERCARGILL WOOL SALES. (By Tolegroph.-Press Association.) invercarglll, January 16. The first wool eale of the season woe held to-day, 9541 bales being catalogued. Tho sale was a most spirited one, buyers' reserves being exceeded in most instances by from a halfpenny to a penny. Very few bale 3 were' passed. Prices obtained for medium and inferior class wer slightly in advance- of lato rates. Continental and Bradford buyers were tho principal operators, and purchased 90 per cent, of the wool offered. American buyers were- not operating to any extent. Bright and fir.o wools <md halfbred were particularly in noniftnd at. improved, prices, but ordlniry CTOofbrcdt ihowed, comii*r*UTely, "" 1t a jjljijt jjppifllftßU»V ■ - • ~

f LONDON HAKKETS.;,.- 'C^'.■:'/' Messrs. Dalgety a.nd Cownany, litd.i Wellington, havo rccelveil advico frora their London office by, cable, (fated January.' 13 and January 15, ns follows:—Ffo2cn moat; Market firm, but prices nHchaiijrcd. RabbitBltins: Fair domand for furriera', but prices unchanged. For cutters, prices Id. to lid. per lb. lower. Tallow: flood coloured mixed [icef, prices unchanged; other descriptions, 3d. to 6d. per cwt. lower. . ...^v^ii , "', N.S. WALES LOAN..' ;; ''^^ ; &#'' The New South Wales loan scrip is now duoted at par (£96). . " : ■■■'■. ■''"*}■ss?■ BANK OP ENGLAND EETCENS/:' 5 . By Telceraph—Press Association—Copyrijiil (Rec. January 16, 10.25 p.m.) ■' ■ ■ London, January 15. > The Bank of England return issued for week ended Wednesday, January U, is as under: ■ . ..•■■■.'.■ ■J^,.-.,-lisvs DEPAHT?rp,NT . ".. . HoU Xuut' £ 57,-2e8.0O) - Gov.aebb ... in,015,000 Other fcoenritioa ... «. uu.m Geld 53.8 M.OOO ■■■■ f57.203.0G0 Preprleters' Govt. eeourl- ■■■■;" ■■:-. capital £».553,000 ties £12,149X00 Public d«- Other eeoßrllioslte „ 7,618.000 tlos 29.724,009 Otbevdtposits. "..46.065.000 Notes' «.'25,827.003 Beat, 7-diy and ether billa... „ 8.474.000 Celn .- «. 1,043.000 £71.743.000 ' £11,743.00 Tht iwidlnß Items of th« B»nk of Eaj. lnud return afford the following companion:— This wetj Lastwtek Jiestyeiir .£ £ i Bullion 33.819.000 36.018.000 34.262XC0 Bosarv*'... W.ilom iie.sl7.tKlo iii.US.m . Note ciroul&tloo 'JB.-m.OOO 29.LM3.0t» 28,070,000 Public Deposits 7,648.1)00 7.18i,01'0 10.Bts9.0ca Other Deposits 46.065.0gi) 46,644,1X1!) 41,485,000 Proportion of v«3erve ta liabilities... 55.58 «, 54 ■ j 9 . u GOTEENMENT .SECrjEmES. The following are tbe latest quotation* for Government securities, with s, comparison of those ruling latrt week-—

BANK RATES OS JNTEKEBT. The Bank of • England rat* wao, on February 8, 1912, roduced from 4 to 31 ner c«nt., and on liar 9 it wasfuHhc* reduced to 3 per cont. On August 29 it was raised to 4 D«r cent.. »nd on Octobtr 17 to 5 per cent. It was reduced to 4j por cent, on April 17, 1913. On October 2, 1913, it was raised to 5 per cent., and on January 8 1914 it was reduced to 4J per cent. l'ho Bank of France rate was reduced from 3j to 3 per cent, on January 23, Ww and continued at the latter fieure until September 12. 1911, when it #»s rui?od to 21 por cent. On May 17, 1912. it was redwood to 3 per cent., on October 17 It was raised to 31 per cent., and on October 36 to 4 por cont. ■ Tho Imperial Bank of Gernwnoy on Oc. tober 24. 1912, advanced its raw -of discount t0.5 per cent, and to t aer-MOt. on- November 14/ On October 27. 19U, the rate ima i reduced to 5J per cent. MARKET RATES OKmSQOONT Tho followlne »re the market, ratoi for best three months' bills:— London Park Berlin rate. rate, rate, per per per cent- cent. c»nt. This week 33 a. 34 Last week 41-1-6 33 Jj Last year 4J 3J ' 4J Short loans aro quoted at 3 pqr cent., as against 31 per cent, last week. ... ■ THE METAL MARKETS. Copper—On spot, £63 2s. 6d. per ton; three months. £62 10s. Tin.-On spot, £167 10s. pe-r ton; -throe months, £169 10s. Pig-iron.—Middlcsboro , Xo. -J. 50e. 6d. per ton. Lead.—Sott foreign, £19.105. per ton. , COLONIAL AND OTHEE PEODTJCE. [ Whoat.— Cargoes are flrm, and from lid. to 3d. dearer thrco Australian cargoes sold at 355. 9d. and 355. IOJd.; 7100 tons oS Janu-ary-February shipment,- at 355. 6d., -was in slightly better demand, owing to tno delay. of Argentine shipments through wet woathor, and the reduction of the estimate of the Australian surplus; Australian, on Epot, was in small supply at 355. 6d. New Zealand, nono offering. ■ ..... Flour.—Firm; 255. c.i.f. was sclced, and 24e. 6d. bid for parcels of South, Australian Patents afloat. Oats.—Firm; New Zealand practically exhausted. La- Plata, February-March shipment, -14s. 6d. .Beans.—Quiet; paroc«3 of March-April sold at 433. 6d. and 445. fl.i.f. Butter.—Steady trade. Choicest Australian, salted, 1123., lite; unsalted, !!45.; exceptional, 1163.; secondaries Mfe, HCs. Kew Zealand, choicest, 1165., 118s. Danish, 1253., 128s. . - . . . Choose.—Firm. Canadian, 6%, 7te.; New Zealand, white, 6;a. 6d., 665.; coloured, 675. liradforil Tops.—Unchanged; fair inquiry, but not much turnover. Sugar.—German lieet, S3 pc-r cent., net. titre, 3d. denrer at 9s. 3d.; first, marks granulated, f.o.b. Hambui'2, lid, dearer at lls. 4Jd. TRADE IN 1913'. By Telosr».?h—Press Aeswciation—Copyrtehl "Times"—Sydney "Sun" Special Cables. . (Jtec. January 16, 5.35 p.m.! London, January 15. Tho "Times's" annual review of the Undo in 1913 slates that Iho movement ot priees and commodities has been mainly downward, with tho depreciation moro pronounced in the latter part of tho year, , owing to growing indications of lees favourable trade conditions, Sugar showed little change; moat wa« appreciably dearer; coffeo experienced a remarkable decline; there was a steady rise in seeds oil, owing to its more extensive use by manufacturers Eovicwing the frozen meat trado, "The TiuHM" says; that it may bo truo that tho total quantity imported to Great Britain from ftor'th. and South Africa- is little more than the o.nnntity imported from those Bources in 1907, but, whereas at an earlier date there was considerable rivalry ani&ng American suppliers. The rapid disappearance of the: United States as exporters has eliminated much of that healthy compete tion. Australasian shippers will doubtless note that two American companies exported 'a-great quantity of' River Plato beef than did cither Australia or New Zealand, in- tho form of beef, mutton, and lamb combined. ■ SILVER. . London, January 15. Bar silver is quoted at 26Ja. per ounce standard. TIOTOBIA PKODDOE MARKET. '-,■ Melbourne, January 16. Wheat. J.i. 6d. to 3s. 6id.: flour, £-8 ICs.s. bran, £4 10s.; nolla.rd, £4 155.; ba-rley, Enclish malting, &. 3d. to 36. 6d.; C-ape, 2s. to 25. 6d.; oats, milling, Is. 95d.; fe-ed. Is. Bd. to Is. M.; maize. 4s; potatoes. £3 10s. to £4 10s.; onions, £7 to £7 10s. MINING NEWS. "'■•■;"< WELLINGTON SHAKE MARKET. ' ''' In tho mining market bnsiaesg roster day was confined to Wainis and Waihi Grand Junctions. There were sales of Woihis at. 6Ce. 9d. (first ca'.l). and 51e. 6d.. 51s. 3d.. 51s. 9d. (second call), and Waihi Grand Junction, ?ss. 3d. (first- call), and 255. 6d. (second call), l'ho auotaiions were as under:— Buyers. SolloM. £a. d. 'S. « d Con. Goldfielda ■—, .: 0!7 3 Progress — 0 !2 iHo«s Eocoiistructcd 0 6 8 0 7 0 Talisman '■ 2 2 0 -2 2 6 Victoria. 0 02S - Waihi 2 11-6 ■■ 2!21 Wnihi Grand Junction ... 1 5 6"',. 1 i> ■ 0 Wfltehnmn .' — ■'. ■■■-■0 2 10 Worksop DredßO 5 0 0 ' i: ...,.-'■.-■ j.;. LONDON MINING QUOTATIONS, : .'* ; ' London, January '15. Waihi Grand Jmirtioji chares are quoted at:. Buyers 255., sellers 265. .. STOCK- EXCHANGE, ' ■ v' ; " (By Telciranh—Press AB-jociation.) . Auckland, January 15. Rtonk Exchange sales to-day wore;— ■ • Waihi Grand Junction. £1 ss. 9(1. Eoss Goldfields, 63. lid. Duncdln, January Mi. The following sale was made on tho'Stock Exchange to-day:— Wnihi Grand Junction, £! ss. 6d. The following pale w:>« reported:~VTaihi Grnnd Junction. £1 5;. 6h\ HIGGINSON 4 MACSSXffI/ Uhartbroken ssd AccoattarU,

INVESTMENT SHARES. ' : : Thero wore no transactions in investment shares josterday. Tho quotations ;verc as follow:— Buyers Beliere £ s. d. £ s. d, Bank New Zealand 11 8 6 — Bank N.ii. (rights) ;... 5 0 0 6 5»0 National Bank 5 6 6 5 8 0 Equitable Buildinpr 9 5 0 — N.Z, and Elver Plato ....'.. 2 0 0 — Well. Trust and Loan 7 7 6 — Palmorston North Gas ... 9 0 0 — Standard Insurance — 113 0 Chrietchuroh Meat 15 17 6 Ctfeat Meat (£4) ......;..... 13 10 0 — Gear Meat (£1) 3 7 0 — Urijon J3taam («rd.) — 1 -5 J Union St£a,m (pref.) - 0 19 6 10 0 Mosgiel Woollen 3 10 0 — Well. Woollen (ord.j 4 0 6 — • Well. Woollen (pref,) 3 0 0 3 3 0 TaupiriOoal : 110 — lisyiand-OBrien — ~ 1 4 0 C. M.. Banks, Ltd. 113 - Mannins and Co 4 0 0 — N.iS. Con. Dental 110 13 0

Variation — ' . Citmpaied trie,, with . _ last w««k. £ «. d, 2J% Imperial Console 71 B 5 2/6 lotfor 4 ..N.S.W. 1933 Jan.-July 08 0 0 Dnchonrcd JJ ,.N.S.\V.1930-K)Mr..Sp goo K? 34 ..N.B.W.-1S80-W 88 0 0 '^4^ ! WLW-; 0, " » ' » ■ IMs ir'v' C ' mi" in Jan, " JnIy 93 ° ° Ms lower 3 ,,Vio.l!HS-«Jan.-Jaly J8 0 0 "(fa hidhsr 3 ,.8.A. U16Jan..July n 0 0 UBohaai"ed 1, ..QTdMS-ilJan.-July 00 0 0 Ms hi»h!.r 3 ,,Q 1 dl92i.47Jau.-Ju y 79 0 0 Ws hlchor ». ..«;Z. 1IS0 April-Oct. 79 0 a SOshkher 3 ,,W.A,191o-35May-No> 60 0 0 "03 hk'hcr 34 ,.Tas, 19iOJ» n ..July not UuSced

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/DOM19140117.2.74.1

Bibliographic details
Ngā taipitopito pukapuka

Dominion, Volume 7, Issue 1960, 17 January 1914, Page 8

Word count
Tapeke kupu
2,220

COMMERCIAL ITEMS. Dominion, Volume 7, Issue 1960, 17 January 1914, Page 8

COMMERCIAL ITEMS. Dominion, Volume 7, Issue 1960, 17 January 1914, Page 8

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