COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1966, 24 January 1914, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. The hiiijinPfe done in investment fhnros yesterday consisted of sales of Notional Rtink nt £5 fc. 6:1.. lianli of New Zefilan'l rights (two sal est at. £5 3fi. 6d„ National Insurance at 51s. 3d. Union Strnm preferfolion"— 3ll ' ThC qut>tat i° lls ,vcl '° aE

QUEENSLAND SUGAK. According to the Government Statistician, Quconalaim Mg harvested a Tecord sugar crop of tons, or some 3Q,(XjO tons in oxcess of the highest production previously recorded, lhe immediately preceding seaeon with a, yield of 113.C6& tons only, was tho worst experienced since tho great drought of 1902. aiid tho year just cioeed has benefited through the amount of etaudover cane, which in ordinary cause would Jiav° been cr'ushodm 1912. Thus the gupar industry in .Queensland is subject to great vicissitudes, a jean year bc-ing often - followed by one of great productiveness. In commenting on the official estimate, the Ali&trauftii Sugar Journal" compares the flggi'Cgftto yield of tho three yearn 1911-13 with that of 1908-10. Tho difference betweenthe two triennial periods is 31,414 tons in labour of tho throe years just, terminated, the average of . which is 175,950 tons. The extreme dryness of the latter half of the past season, while favourable to harvesting been adverse to . planting operations, ana the young cane has not progressed as it would have done under, ordinary conditions, Assuming a normal production in iNow South Wales, the total for Australia, mi sufficient for home consumption. Inc Commonwealth rcveuuo will suffer through diminished, importations, .but tho gain to the community at largo will be immense. • The value of the l ljuoeneland crop alone 13 £5.000,000 approxiniatelv, the greater port of which goes in wages of one: Kind or another. The' cane grower, too. •is, as a "rule, in a email way, eo that tho proceeds of the industry are more widely distributed- than is uemalJy the case in any manufacturing enterprise. Taylor Br op. Co-operative, Ltd., havo declared an interim dividend for the. naifyear ended November 30 at the Tata 'or 10 T cv j en « pcr ftnn ura, payable at the registered office* of the company on January 31. MOTIOX PICTURE HLJIS. It is estimated that about three-fourths of tho world's motion picture films are manufactured in the. United States. The rapid'increase in business in this comparatively new department of industry has led to tho establishment' by tho Bureau of Foreign and Domestic Commerce in tho Ntatcs of a. 6ystem of records designed to ?no\v the quality and valuo of films exported to other countries. From this it appears that during the nine months to the end of September last 65.000.CC0 feet of unexposed or plain films, intended for.uso in other parts of the world in connection ! motion pictures, were exported, in addition;to which about 23,000,000 feet of exposed ,or finished films rcadv. for the Kinematograph operator wore 'shipped to oversea destinations, malunjr a total of 63,000.000 feet. The stated value of tho exported films was approximately £693,400. England, it is found, is by far tile large?t purchaser of films, to-kin? 90 per cent. of tho exports from the United States. In tho former country the number of picture theatres in operation continues to innrcasa; though latterly with less regularity thnrl was observable for some tlmo earlier, in October last the kinematograph company registrations in England numbered 48 and the capital involved wos /£209,800. Tho avoragos for the first three-quarters of the year were <4 eompanics and £243,4C0', so that, the latest totals are higher in aggregate, but- less in capital. The capitalist. ; uon of the companies which wero registered m October last works out at £4370 each, nn amount which convey 6 an idea of the smalluoss of many of: tho picture show on the., financial. side. One of the. newfilm concern 6 is shown to have a capital of only £100, another has £200 and o, third hopes to get-along on £3CO. The largest capital of the October registrations ir, £30,000, and the next highest is exactly hail that amount. CUSTOMS. \ Customs duty collected at the port- of Wellington yesterday amounted f-o £9804 12s. 7d. . BANE OF ENGLAND RETURNS. By Te^graph—Press Associa-tlon—Copyright (Rec. January .23, 10.25 p.m.) . I.oniion, January 2-3. Tho Bank of England return issued for week ended AVednesday, January 21, is as under:— I • ISSUE DEPARIMRXT ! Nololssua-£59,335,000 Gov.aobt. -jen.015.030 l Other seciirl- ■ ... > ""3 7,134.000* Gold 40.856.000 £53,335,000- £59,335,000 BiNKING DEPAItT3tr,NT. Proprietors' Govt, securicapital f14.553.000 ties i 11,109,000 Public do- other securi- - posits ... 10,174.000 ties... 30.61,030 Otuor doposits .„ 45.752.000 Nots3 ... 31.05-2.000 Rest, 7-day ana otaw.. bIUS ••• ... 3.507.000 Coin ... i,q44,000 £73,656,|)J3 i73.55C.000 The leading items of: the Banlt of Ens*' land retutn afforu the folio-,compari-soil. This we«k Last *osk Last yoar Bullion JO.EBtI.OCO 38.5)9,000 3-1.0:3.000 Reserve iJ-J.itfi.UW :.y,S7O,UUU yi.Jltfc'.O'JU Note circulation •Jo,a-20.30iJ 2d.471.tAX) a7.66j.uUJ PublicDoposiss 10,17-I,(AXJ 7,drt,UUo la.i'Sil.OU. 1 Othor Deposits 48.lJtj5.tXXJ 16,51-1,00(1 JUsj.OWJ Proportion ot reserve to liabilities 57.4.3 ' 55.55 49.84 GOVERNMENT SECURITIES. The following are the latest quotations for Government securities, with a comparison oi those ruling la6t week:—

BANK BATES OF INTEREST. Tile Bank of England rata was. on February 8, 1912, reduced from 4 to 3J ner cent., and on Jlay 9 it was further reduced to 3 per cent. On AtiEuet 29 it was raised to-4 per cent., and on October 17 to 5 per cent, it was reduced to lb nor cent, on April 17, 1913. On October 2, 1913, it was rdised to 5 per cent., on January 0, 1914, it was reduced to 4J per cent., and on January 22 to 4 per cent. Tho Bank of francs rate was reduced from 3J to 3 per cont. on January '.la, win, and continued- at the latter fiEuro until September 12, 1911. when it wa.s raided to 3i per cent. On Slay 17, 1912, it- waa reduced to 3 par cent., on Octobor 17 It was raised to 3J per oent., and on Octobcr 30 to' 4 per cent. Tho Imperial Hank of Gormefly on Oc. tober 24. 1912, advanced its rate of discount to 5 per cout. and to 6 por cent, on November 14. On October 27. 1913. the rnlo \svin reduced to 5} per cent., and on January 22 it was further reduced to .43 per cent. UAItKET BATES OF DISCOUNT. Tho following are the market rattia for best three months' bills:— London Paris Berlin rate. rato. rate.per por per cent cent. cpnt. Tills week 215-16 21 2i : I,.i.st week 33 '33-8 3 1-8 bast year ; ... 4 11-16 4 4! Short loans nre quoted .(it 2 3-8 per. rent., as -apninsl 3 per cent, last week, and i\ lier cent. Inst year. COLOKUI, AND OTBEH PROIirCB. Wheo.t.—The marin it firm, wltb wto Innuliy for cargoes the balance per tho.

Toimiauian Transport has been cold nt '35?.. 9cl. Australian, on is rjiiiel at ot?e'. 6(1. | I'lour'ic steady and uniinnc■ (I,''i-;-Au.-1i lian patent, ex *torc, is fiuMeu-ati./.Z;?.'^^'. Onts.r-The niarkcl is ' steady.■ La.'iPlatSJ February-.March shipment,- 1-ls. 7i(l.■ ;,-y I Ueana and peas are (juict, but !irni; Hutter is eclling well. Danish' isi'nii3 chungod. Heavy ntipplies of ,eoloniali.luive''i caused an easier lenck'ney. Choicest'Aui! : ' tralian, salted, to 1125.; exceptional i tiirality making 1135.; misalted, lUs;.to exceptional quality, 115 s.; .New Zealand,.; talted, 113s. to 115s; unfa Her!, 1 life.'; except! tional ■ rjuality, 118s.; AustralianJ.| 102s. to lOfe. ~."=3: ! Cheese it) firm. Xew Zealand .'white; felis!;' i coloured, 675. to 675. 6d.' ■■ Sugar.—German beet. E3.'pe- net"i t.itro. unchanged at i*. sd.* per c«t.i " ftt st j marl; pranulated, f:o.b. llamburg,' 3d I higher at lis. old. Bradford Tops. -Tho mar'nef.is. slo\v r ,'-niil'l firm. Forty-sixes aro quoted. aUlSJd.,''and forties at KJd. .•;■ '-".ijiis THE jl'KTAii "JUnKETSjfxS? . Copper.—Ou spot, 48s. fei. 'higher,' nt. £55 os. per ton;, three mouth*. 4JY': higher, at £65 .10s.; electrolytic. £67 I*. bd. :; '. J ' Tin.—On kpot. £10 10s.' higher, at £178 per ton.;.three months, £9 10s. higher, ai ft Pig-iron—iliddlesboro' So. o, id. higher.' nt 60s. lOd. pcr ton. ' ' Spelter, £4 15=. per ton. RECENT LOANS. 's.v''lt Br Tdcsraoh—Preas Association—Conyrlrtl ■■ (Hec. January 15, 9,30 p.m.) : : ': • . London, January 23 ' The Victorian new loan ecrip is quoted at .11 premium, and the New South Wales eotp at 2. SILYHK. London, January "2 •■" Bar silver is quoted at 2« 7-IM, per <nmoo ; etandard. . ■ AUSTBALIAN BANK OF COMMERCE.'. ' ■ Sydney, Jasuarr 23Thc report of.the Australian Bank of Commerce for .the half-yenr proposes' a dividend of 3 per cent... the n-ddint: of £10, COO to reserve, and the carrying' forKard of £)874. FLOUIt MAKKET, January S2. The reduction in the price/ of flour in Sydney has not Affected the price here, the labour conditions not' warranting a shrinkage in tho-profits. ' , yiCTOEIAXTBODUCE. MASKETS. Melhoui-ne, January i 3. Wheat, 3s. 5Jd. to 3s. 6if. Flour, £S 10s. Oats. le. Bd. to Is. 9id. Jlarley, Cape molt■ns. 2s. 2d. Moiie, it. to <e. Id. Bro-n. £4 10s. Pollard, £4 15s. Potatoes. £3 3s/ to £3 10s. Onions, £6 10s. . I.OXDOX WOOL SALES. : By Telegraph—Press Association—Copjrileht London, Januar;.- 22. At the wool sales there was active competition by Homo and Continental buyers. All priced were fully maintained. (Kec. January 2j, 10.20 p.m.! ■■ London, January 23. 1 The wool sales will conclude next week. At the sales, the following were the prices 1 realised for the fleece, portion of the clips named:—"Hungarian." top ■ price Hid., average price lljd. JThc grand total of sales last- season waa i wJ'TM bales of tho raiuc of £6,0G0,0C0 (?). SYDNEY SALES CLOSE. ;'' ■' * ''' , Sydney, Joacarv 23. , The week a wool sai&s closed buoyant with keen and general competition for all good sorts, Japanese and Americans buying froely. The demand for mediums and inferiors was irregular, Greasy sold to 15d, KEEN COMPETITION AT GEEI.OXG Molimurno, January 23. At the wool sales at Geelong comnetition was remarkably keen. Prices, compared with those of December, were distinctly, in sellers favour. ■" L LONDON MARKETS. Tho Now Zealand Loan and Mercantile Agency Company. Limited, ho.ve received tho following cablegram from their London house, under date January 21:—WheatAn Australian cargo has been sold at 35s 7tfl.-c.i.t. The market io quiet, but steady, and is not likely to impro.vc at present. Wo quote per quarter, c.i.l. New • Zealand l^neat:—Long-berried, 335, 9d.; short-berried 3is. 3d. Oato: We quote—Gai tons. 21s, 6d. : Sparrowbills, 21s. The market S* steady, and there is a fair demand. uMcssrs. Dalgoty and Co., Ltd., hove received cabled advicc-,? from their London ofhee OS follows:— Frozen meat: There is a good demand at about the some price lallow: Mutton tallow i« par to 3d, per c.wt higher. Beef and mixed unchanged.' Lower higher" descriptions, 6:1. pert nyt; CAKTEBBUHT GRAIN JtAEKETSI. S. • (lly Telegraph.—Proes Asßootn.Uon.s---.>. m, i . . Christchurch, January 23/■ . The only business domg m new grain is w Algerian oats, of which o. number of sales have been made at Is. 6ci. at country Motions. A few Cartons hove oli-o on offer, but practically no business! has yet, been done in . this variety. No new wheat has yet come on the 'market, "but eomo samples are expected next week Th<s only samples of barley so far seen are not ot prime quality, anil have not found buv. ers. ■ Reports of blight among the potato "Jwcfllr tn North Otago. Are conflicting but the extent of the tlamagr. is believed to have hecn exaggerated. In'tV meantime, growers ha,y 0 Heclind to make any further forward e al e ? in tfc e tope frmn may improve, it tho damage from blight provec extensive.

I Buyers Seltara r> . x- r» & f. d. i s. d. flank New Zealand 11 14 0 — £./». and River Plata 3 0 0 — noil. Trust and Loan ... 7 7 6 7 10 0 Christehurcli Go* 6 17 6 6 16 9 M • Gas (£10). _ 16.17 6 Hell. Gas (preference) 0 19 ,i — S.B. Insurance • 4 10 — •Standard Insuranco 1 13 6 "I 13 0 Gear Meat (£4) ; 13 10 0 - Oear Meat (£1) j J ( _ Union Steam (pref.)- 0 19 10 0 19 It Mosncl Woollen- • 3 10 0 - )}-.!• 3°°Hen (orrl.) 4 0 0 4 2 6 J\ell. Woollen (pref.) ; - . 3 2 6 J;e.yland-0'Brien — 14 0 Golden Bay Cement — . 0 IB 0 JlanmiiR and Co. 4 0 0 — Jj.Z. Con. Dental 1 l o — Ward n,nd Co 4 19 0 — W.P.C.A.- (£» } 6 „

I Variation -• ceropaicd Trie®. ivith - ! : last week. 1 'X s. d. * : 2}% Imperial Consols 74 0 0 17 c> hi*w 4 1000 0 1,2! 44 .S."\V.1930-50.tfr.-Sp, do 10 0 wl 5£££ 35 „Ji,S.\V.-10S0-C0 i 8S 0 0 CnoKcfld 3 „S.a.W.19i3Apl..Octj 65 u 0 40 " hS 4 „Vio. 192UJan-July. 100 0 0 JosIi I ut' 3i ..Vic.'1021-6 Jan-July! "4 0 0 gal" . 34 „Vic..llK!M9 I 58 0 0 UuchaXd 3 Vic. lffiD-lMan.-JuIy £0 0 0 4tahlsbor 3i „S,A. lOlBJan-July MOO »0s bif'W 3 „S.A. 1U16Jon-July ! 74 0 0 Sqs hFb? 5, 4 .,QTdl915-3iJttii.-JuIyj ioo o 0 «o= hieher 3i „«TUWJ2-47Jan.-July! 01 0 0 Uncharged i „U 1 d luJ.'.47Jan-July w o 0 2u" Sr 4 „VZ. 1(129 Jlay-Nov. 100 0 0 20s higher 3J JwZ.jUl'.MOJan-July S3 0 0 Unchanged d „h.Z. atfeOAprii-Oct. SO 0 0 20s higher 34 „\V.A. 1015-35 May-Kov Pfl 0 0 2Us higher 3 SO 0 0 Unchanged 3i ,,-Las. JftiOJan.-JuIy fe9 0 0 40 S higher 3 „ lag. 1920-10 Jan.-July tO 0 0 Unchanged