COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1975, 4 February 1914, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHARES, There wore »o transactions', in infc3tment shares yesterday. The Quotations were as follow:— Buyers Seller* £ s. d. £ s. d Bank New Zealand 1119 0 — Bank N.Z. (rights) 5 0 0 5. 3 6 National Bank 5 5 3 5 7 0 National- Mortgage 4 10 — . . N.Z. and Ili'ver flats 2 0 11 — Well. Deposit 0 6 0. - Christchurch Gas (£5) ... 6 10 0 613 3 Palmorston X. Gas 3 2 6 — Wellington Gas (£10) - 1615 0 Well. Gas (preference) ... 0 1? 6 i 0 0 S.B. Insurance,- „ 4 2 6 — Gear Meat (£4) 13 12 6 Gear Meat (£1) 3 3 0 — Meat Export (525. 6d,) 3 2 (! -' Union Steam (nrcf.'s 0 19 IS — Mosgiel Woollen 3 ,11 6 — Well. Woollen (ord.) 4 10 — . Well. Woollen (pref.) - 3 3 8 Taupiri Coal 116 — Westport-Stocktcn — 0 4 il Taringamutu Tetftra 2 5 0 — Crown Brewery 115 0 —. ■ Golden Bay Cement 0 17 0 0 13 0 Manning arid Co ~;... 3 19 6 4 16 Ward and Co ;.......' <S 19 0 5 16 W.F.O.A. (£1) ,-.... - 16 0 TRADE IN ALLEN STEEET. Fruit—The Aorangi from Bara-touEa-landed a heavy shipment of bananas, but the fruit opened up in an unsatisfactory condition. A further shipment of feananas came to hand per Warrimoo, transhipped at Auckland ex Moura from Fiji. This ohipment was, also tapdei in an unsatis. factory condition, the bunches in parties!.lar suiTcrcd generaly through bclne over ripe. Tho weekly steamer from Sydney, due to-day, is bringing a light shipment consisting of pineapples a»d passion fruit; a few grapes may be- included in the. consisnniont. Tho market is well supplied with peaches. greengages, plums, and Moseinc, lemons. For choice October purple plums, and Burbante good rates are being obtained. Tho "Faracon peaches.are finding most favour With consumers, and are meeting with Keen competition at the ealea. Pears and.apples are in large eupply. Vegetables-Excellent rates are now ruling for green pees and carrots. There is a fair demand for parsnips, eaMiaees, cauliflowers, and French beans. Potatics —Hutt grown are in better favour, with buyers than are Auckland potatoes which are. neglected. - The cur-rent • quotation is 3s. 61 to 4s. 6d., according to quality. N ; Onions.—Australian shipments are now arriving mostly in bad condition, whilst Aucklond-grown onions are reaohiuß _-Mi<3 market in excellent state and realising. 10s. per cwt. A few Canterbury-grown aTi> also coming forward. '•: Flour—Tho f.cb. price sautli is £9 per ton, less the usual discount.. i.' Fowls' wheat has declined Id. per bushel, the quotation now -being 4s. Td. to 4e. lOd. for prime wholo, . •': Maize is dull .of sale' at 4s. 3d. to 4s. IM. per bushel.' v.-J 'i'-i" . _ ' ; Bran.—Heavy shipments ar« be-in* made to England, and the local market now rules at £4 6s. to £4 10s. per ton. \ if, Pollard -is' extro'thelfi scare, b«t supplies |: are coming froin- Australia; tho current quotation is £6 15s. to £? per ton. Oatmeal,' in' 2Mb. bags, is selling at £12 10s. per tan; in 2001b. baga at £12; and in 71b. bagstat £14. ' ; oßlled Oats.—Thfsilo brand, in 4.41b. lings, and crearaoata, in 41b. bags, ore sclltnE at lCs. per dozen. - - ' ChalT.—Somo very fine samples are offer, ing at, £4 15s. to £5 per ton, sacks in, ex store. < Eggs—Fresh eggs lsavp' a:garn .advanced, and arc now quoted at. Is. 4d. to Is. Sd. per dozen, with preserved at Is. 2d. Butter—Prime milled, in bulk, 9id, to 1-Od. per lb.; good quality at 3d, Prussian blue peas rule at ss. 6d.;-with veryj little business doing. Broken ueas for poultry feediiie arc in excellent deniaiM at 3a. 6d. to Ja. 3d. Poultry.—irers, 2s. 6d. to 3s. 6d. a pair; young roosters. 3s .to 6s„ according to size; Indian Runner ducks, 4s. 6d.: Avlcshury and Pckin duel;?,.-at 6s. to Bs,: turkey gobblers, Is, per lb, live weight; hens, 9d. to lid. ' • ■

UNITED STATE'S ' BANKING, Some interesting statisties regarding tlio growth of banking facilities in the United.' Status aro given in tile annual report of the Controller of tho Currency at Washiugton. The information Covers tide country's banking system from 1784, when It possessed three organised-,banks having an aggregate capital of SfISIJM ajpraiiinate, ly, and deposits of £2,08(i,«K1, down to 1913, 'raking the figures of tho . year' 1900 in comparison with those of 1915, there had been an increase of 10S per cent, in the number of banks operating in the UnlteaStates, while the volume of their business, measured by the aggregate deposits, reorc-. seated a gain in that period of over, 133 ■per cent. The statistica cover not only national and State banks, but those institutions which, do not report their operations, and thus, to a certain extent, tho comparison ia based upon estimates. The national banks in ISBO were iJii, oitt of "a total of 13,977, and their capital constituted 54 per cent, of the total bank capitalisation of £230,160,000, while their deposits formed 32 per cent, of the entire bank deposits of £1,540,000,000. In 1513 there were 7473 national banks out of a total of 29.254 institutions, and their capital was £211.400.001), out of £432,40D,0CG, while their deposits were £1,191,000,000, out of a total of £5.587,000.C00. Thus, whilo the ratio of. deposits in the national banks has increased slightly in tho last thirteen years, that of tho capital has diminished to 48.89 per cent. Of the total. ■

COEEUGATED SHEET IKON. Severo competition' and consentient low prices have tor a considerable time past made the position of manufacturers of ealvanised corrugoitcd sheet iron one of no' little difficulty. In the hope of improving the conditions steps were initiated recently, with a view to reviving tho association which co,mo to grief in 1910. Since that event matters for the manufacturers have moved from bad to worse. 4 \s showing tho results of tht formation of the organisation, it "is mentioned that corrugated sheets were. selling at about £10 per ton, f.0.b., Liverpool: but after tho association had been in eiistenct for twelve months the prico had been raised, to £it 2s. 6d. per ton, whilst in Hay. 1907, the high water mark of £13 17s. 6d. was .reached, The association managed to control the output, and many works which were on the vcrgo of disaster were given a new leaso of life. Furthermore, an arrangement wfts arrived at whereby American competition in' various markets wa3 regulated. Hut the higher rates which were realised *sftit«d the envy of outsiders, and new works wore established. The owners refused to enter into any alliance with the association, and their competition became so keen tint it was. found impossible longer to, hold together tho members of ,tho organisation, who singly, but steadily, went out to wage war on the now section of manufacturers. In • July, 1910. tho association was compelled to confess its inability to control production, and to maintain its declarsd selling minimum. Then einued a sharp rutting of prices, Which within a few days brought about a £10 per lon dilatation. When the trade ]ii.d recovered fro>u tho shock occasioned by this new order of things thcro was a slight reaction- and some improvement: but the strain was still felt, and tlio margin of profits was by no means over-Itrond. With tho ornspect of renewed onNinisaMoii some maker's are stated to Iwo lio»kcfl order* sufficient to keen ti'eir works fullv -riinlovcd throughout tho first ouarter of this year.

CUSTOMS DTJTI.ES. Customs, duties col3ected at the port of .Wellington yesterday amounted to £40.17 17e. Bd. SILVER. By Tekffrapli—Press. AsMciotion-eopyrighti LdnfjoPp February 2;. Bar silver is nuotet ot 26 M6l wi ounce standard. MEMOUBNE WOOL SALES, ' MolbpurniJi February 3. At the wool fifties competition was keen and prices were equal to tho tail, of loft week. (Iroaay brouelit up to lGd.. aad jicouriid 231ii>,

WEST AUSTBALIAX LOAN. Loncten, Febru-er.v 2. The-. West ; Australian lssan subscriptions .exceeded - eleven millions, WHEAT (Eoe, February 3, 10.50 p.m.) Londoni February 3. The wheat market is diili. The tilen-c----ocn's Melbourne- ehipmcat lias been sold at 355. 91 , BOWEOJf BKOa, By SMigraph-tress Association—Copyright Sydney, February 3. At a mcGtinfr of rue- bfi-areiroiaci-s oi Bowrou liros,, Mts&re. Snnw and iua-iuatiq. were ro<etcttctl directors of tho Australian Hoard. The chairman reported that, although the baianec-sneet was not as satisfactory ■aa could be desired, reports since tho date of the baiance-sheet indicated that improvement might bo anticipated. SOTJTITEKJf JUKK£T3. ; (By Telegraph.—Press Association.) Chrislchurch, February 3, Tli.e wheat market has not yet opened, only an odd sole boing made at is. 3d. for for a thin s-awpio to is. sd, for Mime at country stations, and three purchases havo t-ecn mado to till immodiato reauiremeiit'j. It is reported that eomo of the early threshed samples in tho northern districts aro on lite thin side, due either to rttßt or to sudden. riDcninc through the hot weather of the past month. The Tain will do >x lot of Bood in filling out the Grain. Tho oat market is uuiet, as with no outlet merchants are 'not oaxiouj to make purchases. Jfotliine is yet doing in barlev; larpr* buyers arc still holding off, and apparently there is iw demand at ni'csoiit from Uuncdin, whero it is said that eood stocks of last year's KM.in a.ro still held. Growers aro still inclined to hold their potatoes, and no fresh forward business is resorted. 2TEW ZEALAND INSfEANCE CO. AyoMand* February 3. Tlio balance-sheet' of the New Zealand Insurance Company, Limited, for the. year ended November 3D, 1913, shows that tho net income from premiumSi interest, and rente amounted to £746,331, • The.available balance on the year's transactions (including the balance brought forward front the previous year) amounts to £139,129 from which, has to bo deducted a. dividend of £18,760 paid in Ausust last. The directors recommend, placine iSjCCsI to tho reservo fund and ,£l2.!tGO to the reinsurance fund. From the balance of £48,379 tho directors reeoffimend the payment of a dividend at the rates of 3s. fid. par share, ah-spriiinj; 4:26,250, and making 6s. pet share for the year. This leaves a. net balance of £-22,129 to be carried forward, Tho paid-up cod!tal, reserves, and undivided sroiit now amount to £964,129 after providine for the dividend recommended by the directors.