COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1977, 6 February 1914, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHARES. ' The- sales' recorded, in investment shares yesterday ..we.ro Bank. o£ New ; Zealand, rights, £5 3a. 6d.;.-Christchurch Gns (£5), £6 12s.- 6d.; W'ellinltbn Gas, preference, 19s. 6t1.; "Union Steam Ship, 245. 10Jd.; ATel--Jington Woollen, ordinary,- £4 2s. 6d., cum dividend;- Wellington"Wgoilcn, preference, £3 2s. 6d, The quofatiims were as. follow:—. • • ' '- Btty«r» BeU«r« . 1 ■•;■£ s. d. £ s: d -Bank New Zealand 12 0 0 — Bank N.Z. (rights). 5 3 0.536 National flank 5 6 0 — Equitable Building '8 15 0 — National Mortgage '4 2 0 — N.Z. and Itiver tlate ,2 0 6 — Well. Deposit ..' 0 6 0 — AVellington. Gas (£10) • — 16 15 0 Well. Gas (preference) ... '0 19 6 —- N.Z.' Insurance 5 16 6 — S.B. Insurance . 4 2 0 Gear-Jieat' ,(£fl ...13 12 6 — Gear Meat (£1) ..-. 3 8 0, — Meat Export (sfe. 6d.) .....' 3 2 6' 34 0 Union Steam, lord.-)' — - 1.5'0 ,onto:i St.eani (pref.) 10 0 10 4 Mosgiel lVoollen 3 U. 6 >■ — .Well. Woollen (ord.) 4 2 0 — . Well. Woollen, (pref.) 3 0 0 3 2 6 Taupiri Coal : .' 116 — . Westport-Stockton' - f — 0 ,4' 0 Taringamutu To tar a 2 5 0 . — 'Crown Brewery - 1 15. 0 1 16 3 ;G4ld?n Hay Ocmeato 17.0- 0 18 0 Manning and Oo — .I' 2 3 ,\r.F.c.'A. tui ..; - . itt

, v ', BAR GOLD. . , . ; Acc'ordins to..'a" cable message published yesterday; owing to strong Continental demand tho. price of bar* gold has--been raised, ,6d.> .ounce..standard. This'".does.not.appear, to;,.be quite correct, for tho .minimum price of standard gold is 775. 9d., so that 795. O'-d. re ; presents an increaje of Is. 31d. Tho Bank Act of 1844 provides, that all persons-shall be-entitled to. domand from tho issue, department "Bank of England notes in l exchange' for 'gold 1 bullion, at- the rato of £3 17s. 9d. per otm/e of standard gold," tho person tendering, tho Jsame to bo' at the .expense''of-melting, and-assaying it. Thei-holder of the gold is not bound to go to'the batik, however.. The coinage of gold being quite gratuitous, he may, if ho 'eo 'plea's&,..'deliver- it (if of sufficient amount) direct to the Master of tho Mint, who will in ' due : time return it in tho shape.of sovereigns, at the rato of 1669 sovereigns for every 480 ounces Vmetal of standard fineness (11-lZtli pure gold, l-12th alloy), equivalent, to'-a. price-of £3 17s. IOJd." per , ounce. ' This ia known es the mint • price of - gold, and is ljd, per ounce higher than the'bank .price. The time allowance on gold taken to the mint is said to be 20 ; days, and as ljd. per ounce is just equivalent" to'2o days' interest at 3 per cent.' tho. result is much the fame whether bullion ,be sent to the mint or sold to the bank.: -In practice, however, the - gold' coined at the mint is received exclusively '.from the Bank of England, as no privato.-trddcr ever, sends any. All thi) newly-mined gold arriving' in- London goes to the Bank of Ertgland, or is sola for .export.-- If. there is a strong Continental demand for bar £old and attacks aro. made' on the bank's reserve, there will necessarily be, an advance in-the bank discount rate, for that is the. only means available to tlvo bank" for' protecting its gold. . weekly , return of the bank which in tho ordinary course will ,bo available. to-morrow" morning, will shoiv tho position. ; ' , ■

- DEMAXD tOK .GOLD. The. principal" banks. 6p'''tho Continent of Eurapo have been* addinß: to their gold reserves Tor. a lons time ■ pas,t,. and to this ■fact is ' due : largely the.dcariicffii of money experienced;.', throughout last year. "Tho Economist" (London) of December 27 cives the" holdings of-gold of the principal bank?, and .this information is tabulated hero:— ■ 1 Dec., 1913. Dec., 1912 Increase • ■ - £ :■•■•£ •£ Bank of Ger--1 many :. 74,279,CC0 ; ■ 51.595.CC0 22,384,000 Bank of Russia 151,202,000, 132,436,C00 18.766.CC0 Bank of Erancc-1<0,984,Ca)' 125,273,M0 12,711,000 Austro-Hungar- • Jan Bunk , 51,585,000' 50,379,CC0 1,206,000 Bank of Spain 19,070,000 1 17,>159,000 1,611,000 Bank of Bel- • , , Rin'm 12,742,000 11,603,000 1,136,000 B<jnk of Italy 48,536,000 46i147,000 ' 2,389,000 These : seven institutions increased their gold stock by £60,203,000, and as tho new gold from the mines during the.'year did not exceed £100,000,000, it will' bo*.seen that a terrible. strain was .put on London, tho only ■ free gold market in the world, to provide, tho largo amount the Continental banks heeded. If,'as'tho cablegram indicates, there is c fresh demand for the metal;..then\ it must be that tho reserves that were laboriously accumulated last year have' bein weakened by the normal •demands • of tra.de. ' '

COMPANIES REGISTERED. Tho. following appear in tho list of companics registered, published in this week's "Mcrcautii© Gazette":— CJnion Electric' Co. of New Zealand, Ltd., registered as a. private company January 29. . Office: I 'Wellington. Capital: ,£SCCO into SGCO shares- of £1 .each; Subecribcrs: Tho Union. Electric Co. o'E Australia, Ltd. (Sydney), 4990; H. G. Such (Sydney), 10. Objects: To .carry on the manufacture, sale aiid supply oi clcctric lamps and gencr.ally'tho'business'of an electric lighting company.' * New Zealand News Co.. Ltd. (The), registered as"-®- private company February 2. Capital: £2CCO into 2COO shares of £1 each.' Subscribers: Sydney—3. Stevens, 1999. Wellington—A. do 13. Brandon, 1. Objects: To purchase, import, sell, export, deliver and •otherwise, distribute books, magazines, newspapers, and all forms of printed matter, ote. '■ )-'■ " llawko's Bay Fruit and Canning Co., Ltd., registered January .7. OfHco: Corner Kara-mo. Road and Queen Street, Hastings. Capital: £5000, into £000; shares of £1 oach. Subscriber*: 1). Robertson, 100; E. S. French, 25; R. Wilson, ''25; S; A.James, 25; Wm; D. Southcott, 50; W. White, 40; 11. K. 'Harris, 40. Objects: To acquire land and buildings and to erect, establish and-carry on pulping, • preserving, jam-making, pickling .and canning works, at Hastings, to manufacture and sell jam,; pickles, jellies, sauces, etc., to tlie. attainment of the above objects. T. Park*/* and Co.. Ltd., registered as o. private- company November 7, 1913. Office: Hastings Street, . Napier. Capital:: £8200, into 82CO.shares of £1 each. Subscribers: T. Parker, 7000; F. J. Fc'nton, 1C00; fi. C. Clare, 1C0; W. H. Fenton, ICO. Objects: To carry oil tho business pi tailors, clothiers, mercers, hatters, drapers, furnishers, etc., and al=o tearoomß. Lowe?, Ltd.. registered as a private company Dccembcr 1913. OfHi;o: Herctauugo. St.recl, ilastincv a - Capital: £2500; into 250Q shares of £1 cacb. Snbscrlborß: A. .Lowe, 600; W, Richmond. 400; A.. B. Mar* J, .C, lanea, 1000, To

rfirry oil the butchery lms-incse prcviougly carriui -on by Bros. GEIiMAN WAR CHEST. • Tlio law passed hy the German lleblietag last June.-in ttjs&rd to alterations, in tho Imperial finqucirti systeni provided, simonp other matters, tor tho strciiKthcuing of the,. preauitt war.i'cscrvc fund by £6,000.CC0 cash in gold attd siivti-. tvhjlo the accumulation of the silver reserve is still outstandiiiß, -the "Prankfimher Zeituin;" stat«3 that the collection of the sold reserve, which is te bo effected assun-'t tho issue of Imperial nates of ss,'a,n'd !<os. denomination, has so fai* prospered thatmore than ope-hal-I •of llio amouiit has been incorporated in the war,cheat. At | the last, sittinp .of, tlio OciHro.l of tho Itsichsbaiili, -at the end of N-ovem-hei'. the Prcsident_aniioun<!fcd that, the sura of £3,000,000 lmd already bocu and.tho Frailtfort newspaper learns that this has. in the meantime, been: increased by £750,000 to £3,750,005.;. • ' ""'" UW cnsTOJis-itEvfiNUE Customs., duties .epliec'ted' at the port of Wellington yesterday amomited to £2356 16s. 6d. '■ THE WHEAT MARKET. The New Zealand Loan o,nd IfefeAotile ✓Aconcy Company, Ltd., ho/co revived tlie followinsr cablegram from thoir London house, under date February 4:—'Vflieat- We have sold an Australian eargo at 355. 9d e.i.f. The market j* ntuct but steady, a-nd tho outlook is uncertain, . NEW SOIJtH WALES OEOPS. By Telegraph—Press Association-OopiyTight - ' Sydney, February 5. The yield of many of tho wheat crops Is provinir smaller than had been dnticip.fttcd. A peculiar feature j s ' that the two cids of tie oars ore t-o a great extent unfilled. ■ This is imimoeed to be due to tho unfavourable climatic conditions at tiie time of cannji - WHEAT YIELD-, m ; Adelaitto. February. 5. The.revised offlqifli foresast ot the wheat yield is 16,805,945 bushels reaped, an average of 8.16 bushels -per acre, the crop his been eeverely affected, by hot wind's. The oorly December eeiisefl's groin return was the smallest einco 1904-S-. MELBOURNE WOOL SALES. Melhourne, February 5, The second series of tho wool sales "closed firm at late rates. ' -H.OIJ};. „ ' ,- , , ■ S:ydney, February 5. <Fiour has advanced by is. a ton, TURPENTINE AND LINSEED. . . . London, February 4, Linseed oil,'spot pipes, £2J 10s. .*■ Turpentine, ,3as. ' ' :l--. 6ILTBK. Bar silver ia quoted at 26Jd '.Scf ounce standard. ■ . , MONEY AND STOCKS, London, February 4, , The stock markets are buoyant. Imperial.'Consols are at £77 ss. South Australian, loan scrip iis at par. ' ATJSTEALIAir .MEAT. 1 ' Sydney, Fihruary 5. A conference of those iut-erested. iii the meat industry reco.mfiie.micd the Government to erect a : central nieat market. The auality and Condition of some of the ■meat' sent to Sydney, wejs unsparingly demncd. It was declc red ta be a. scandal. The .hordes of'AeiV woiili refuse to oat some of tho meat- forwarded tof consumption. . . ■ ; . -i' 7" BANK SUSPENSION. London, ■FebniatS' 4. The Coulon and Ecrtiloiid Bank's suspension waa partly in® to fkilaro of. the fry and Miers Company, representing many Brazilian houses. - 1 Coulci'fl <ind Berth-oud's liabilities total £<(S,OOO and Fry and iliers's upwards of-, a million. ' AUSTEALI.AN. JfARKETSBy Telegranh-rl'ress CiMiyricnt . (Rec. February 5, ,9.5. p.m.) -' Sydney, February 5.' - Wheat.,3s. 6Jd. to is. 7a.: flour, is 10s,;. oats, Algerian feediite j?. 2d. to 25.: 3d., milling 2s. 4d„ New. Zejlnnd A OartO-U-g 3S> 2d.; barley, Cape- "ma-Htag, 2s. 3d. ■ maize, 4s. id. to 4s. 6d.; bran and.pollard, £4 IDs.; potatoes, Tasmanian £5 10a. 6d.; onions, Victorian, £8 10s.; butter, selected brands 103s.,' eccondary ICOs.; cheese, Sd. to 6«d.; bacon, lOd. Ho lOid.

7 Adelaide, fehruary 5. ITh'eat, 3s. 6d.'to 3s, 7d.: Bout, £t lEs. to £8: bran and poi-latd, Hid. ■

MELBOURNE HID'ES MARKET. (Hec.- February 5, 9.5- p.m.) ■ ; - Melbourne, February 5. Hides wero in fair simply a,t-tfl-day's. sale, and there" was- 3, verV firm demand. Kips wero Id. dearer.

TALLOW. (Roc. .-Februai-y 5, 9.5 p.m.) London, February 4. At the tallo.w sales sis Seen hundred and casks -'...werG- offered and 11.36 sold. XJri«!s rcalisfid;. Mutton, lino, 365, 3d.: medium, 345.; bee!, n.n.e, to, 6d.s,medium, 36. 6d.

•' WHEAT. (Rec. February 5. 10.55 p.m.) , . London, February 5., The market Is dull, and prices, arfi carrier. Australian steamer cargoes are rather pressed for 'rale.