COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1964, 22 January 1914, Page 8

COMMERCIAL ITEMS.

■ INVESTMENT SHARES, A saloNrf 'New Zealand River Plate shares at 4Ce. was the only transaction ; in investment shares recorded yesterday. The Quotations were as follow:—

.THE HONEY MARKET. Tho tone of the London money market is ono of cxtremo cheerfulness,- which is quite a contrast to what was exhibited just a month ago. The Victorian- loan for £1,000,000 at 4 per cent., with the issue price at £97, was subscribed three-fold, and is .the first colonial issue to meet with such a favourable reception. Syndicate stage are mainly responsible for this, and they wero tempted into bidding because tho Now South' yvales loan of £3,000,000 at 4 per cent;, issued earlier in the month, and 90 per cent, of which had to he taken by the underwriters, eventually sold at a prcmium'oM per cent, above the iesue price. "Stag," it may be explained is a slang name for a speculator who applies for shares or stock in new concerns or' issues which are quoted at a premium, hoping to obtain an allotment and secure a profit without holding the stock. The Victorian was quoted at a premium of 10s. before the application, and the successful would stand to make 10s. per cent. This success of Victoria will certainly stimulate borrowing on the part of other States, and higher prices will be fixed for tho tones. There is a probability that tho bank rat© will be reduced from 4J to 4 per cent., such a movement being due on the showing of last week's return. The London Stock Exchange is Teported to bo in a, healthier condition than it ha 3 been for many years, and brokers are flooded with investment orders. There is plenty or scope for a rise in -values, and Imperial Consols, which are selling at £73 155., should if averages- count for anything be standing at £77 10=., at which price they would yield 3J per cent., which has heen the average rate over a long period of years. Customs duties collected at the port of Wellington yesterday amounted to £4C0715e. LONDON WOOL SALES. By Telegraph—Press Aesociation-Oopyright London, January 20. At tho wool sales there was a choice selection of best Geclongs. The competition was spirited, with high prices. Messrs. Dnlgety end Company, Limited, Wellington, have received under date- January 20, the following cabled Information from their London office:—"The wool sales continue firm, with an upward tendency. As compared with closing rates of last salos, ■ greasy merinos, good Quality and condition, and medium sorts, arc 5 per cent, higher. Scoured merinos ore rather higher, and fine crossbreds are fully 5 per cent. higher. Bcourod crossbred wools, change (if. any) is in sellers' favour, and in slipc wools the chango (if any) Is In buyers' favour." The Now Zealand Loan and Mercantile Agency Company, Ltd., has received th« following cablegram from its London house, under date January 20:—"London wool pales: There is good all-round competition. As compared with last sales' closing rates prices are about the same for lambs, merino, and crossbred, greasy merino, in, forior, scoured crossbred, scoured merino inferior, and crossbred slipe; higher by about 5 per cent, for greasy crossbred; and higher by about par to 5 per cent, for merino medium, greasy merino sitDcr, and scoured merino super." 1 COMMECRIAL BANKING COMPANT. . Sydnoy, January H, At the half-yearly meeting of the Commercial Banking Company. Sydney, a net profit of £138,242 was reported, n. dividend of 10 per centum declared, and £50,CC0 added to tho reserve. The hundredth half-yearly meeting ot

the City flunk, Sydney, was celebrated by increasing the dividend by 1 per centum. making sii for the period, and granting the etan" a, 10 per centum bunue. FINANCIAL OABLKOIUitS. London, January 20. Yesterday'*? closine; quotations were as follow:— Bank of Australasia, buyers £118, sellers £120. Bank of New South Wales, buyers £W. sellers £41. Bank of Victoria, buyers £4, sellers £4 108., ■Union Bank of Australia, buyers £56. sellers. £57. ■ National Bank of Australasia, buyort £5 6s.'. sutlers £5 15s. National Bank oC Xow Zealand buieri £4 123. 6d.. sellers £5 2s. 6d. Bank of Now Zealand, buyers £10 155., tellers £11 15s. N.Z. Loan ana Mercantile Agency 4 per cemt. debentures, £90 106. . City of Melbourne, 4 per cent, debentures. £97. Melbourne Harbour Trust, 4 nor cent, debentures'£9s. • Melbourne Tramway Trust, 4J per cent, debentures. £100. Melbourne and Metropolitan Board of Works, 4 per cent.-debentures £93. Australian Mercantile Debentures. £!9, ci interest Daisety and Co., 4 por cent, debentures, £90. ■• XJaleoty ■ and Co.'s shares, buyers £6, sellers • £6 10s. Melbourne Gas Co.'s debentures, £98. City'of Sydney, £97. Goldsbrouih, ilort and Co.'s debentures, £53 10s. . Bank of Xew Zoaland, 4 per cent, guaranteed stock, £98. . WOOL, SKIN, AND HIDE SALE. Messrs. WiiLiams and Kettle, Ltd.-. Dannevirke, reporting on their sale of wool, skins, and Hide's on January 20, €oy:--Our ottering comprised/108 baleu and lb3 bogs wool, 1634 sheepskins, Si hidci.-. 147 calfskins, 86. packages tallow, and the usual eundrjes. Competition for wool was very keen,- and prices showed an advance cf id. per lb. on last sole. Sheepskins sold well up to late -rates. Good prime hides Bhowed an advance of id. per lb. We ouote as follows:—Wool: Crotsbrcd, coarse to medium,'7i(d. to Sid.; crossbred, loe-stained, 7d. to Bid.: crossbred, dead,' sd. to 7Jd.'; crossbred,- black, 6id.;• bellies and nieces, 6d.' to 6id.; locks, 4d. to Sd.; crossbred lambs, 7jd. lo B{d.; crutchings, sd. to 6d. Sheepskins: Crossbred,,prime. 7id. to 75d.; crossbred, inferior, Sid. to did.; crossbred, lambs,, 7d.; crossbred, dead, 4*d. to '.53d.; pelts, dry, sound,. Is. 6d.; broken, 5d.; quarter-wools, 5Jd.: crossbred, salted, ss. 7d\; pelts, salted. 2s. to 35.; salted lambs, 3s. Id. Hides: Ox, 7}d. to 8 3-Bd.; cows, prime, 7jd. to Bd.; cows, ordinary, 6Jd.; cows, cut, 6d. to 63d.: wcaners, 7d.; stags, 52d. to 6d. ; stetTs and heifers.. 6>d. to 63d.; bulls, 53d.; horse, 7s. Calfskins: Medium. 10id.; cut, 6d.:- slippy, 4d. Tallow, in tins, £1 ss. Sd. Cowtips, Is. sd..'dozen. Horsehair,' Is. 3d. per lb.

Buyers Sella™ £ s. d. £ s. d. Bank Xew Zealand 1112 6 - Bank N.Z. (rights) 5 2 0 - National Bank — 5 7 6 Equitable Building .'.. 9 0 0 . — K.Z. and Eiver Plato ... 2 0 0 - •Well. Trust nnd Loan ... 7 7 6 - Palmorston N. Gas 9 0 0 — Well. Gas (£10) ...'. — •■• 16 17 6 Gear Meat (£4) 13 10 0 - Gear Meat (£1) 3 7 6 - Union Steam (prcf.) ...... 0 19 8 10 0 Moseiel Woollen. 3 10 I) — Well. Woollen (ord.) 4 0 0 Iieyland-O'Bricn — 14 0 C. M. Banks, Ltd 1 1 6 >'.Z. Con. Dental 110 — W.F.CX (£15 - 16 0