COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1984, 14 February 1914, Page 8

COMMERCIAL ITEMS.

• . INVESTMENT SHARES. , The business done in investment shares yesterday included the following sales :— National Bank, £5 7s. 6d. (two sales), Wellington Trust and Loan £7 6s. and £7 6s. 6d., Cljristchurch Gas £6 13s. 6d. (two siles). The quotations were as follow :— ■ > Buyers Sellere. ■' ' . £ a d. £ s. 0. Bank N.Z. ■ (rights) 5 2 6:5 3 6 National Bank ;... — -580 Metropolitan.Building ... 12 5' 6 12 7 0 N.Z. and -River Plate ... 2 10 • —.> • Well.' Trust and Loan ... 7 5 0' 766 Christchurch. Gas < , 6.13; 0 — ' Palmcraton' N. Gns 9 5 0 —i. Welliinrton Gas (£10) - 16 IS 0 Well. • Gas (preference) ... 0 19 9 — S.B. Insurance 4 3 0 — Meat Export (525. 6d.) 3 2*6 — N.Z. Shipping (pref.)-...... 10 7 6 . Virion Steam (ord.)' 14 6 1-5 0. Union Steam (pref.) 10 3 — Kaiapoi, Woollen (0rd.)... 5 5 0 .. — Mosgicl Woollen 3 11- 9 . ',3 13 0 Well. Woollen, (pref.) —' 3 19 Westport-Stockton —' HI ■Leyland-O'Brien ;. 13 J,..,,4;, 1 : 'Donaghy. Eope> . 1 5. 0 ' Manning 1 and Co. 4'2 0 ' 1 ' —■ N.Z. Con. Dental -"1 1' 3 12 3 Ward and Co 5 0 0 — W.F.C.A. (£1) - ,16 0 ....■ ■ /.CAPITAL APPLICATIONS. : The.ainount of capital raised in Great Britain' last year., according to "The-.Eco-nomist," ,wi3 £196,537,000,'! which 'compares with previous years as under:— V Year. . ' £ ' 1913 .. v : 196,537,000 • 1912 ...; 210,850,000 • ... 1911 -191;759,4C0 ' 1910 267,439,1C0 .1909 182,356,800 . ~ Of'the total for last rear colonial Governments obtained £26,278,700. " as - against £14,673,100 in 1912, and £10.790,CCQ in 1911.. In the five years tho capital ipraes amounted to £1,049,000,000, or an average of £210,CM,CC0 per annum. Canada was again the principal applicant, for Capital, tho total sebured being £44,119.000. Tho distribution of capital:, among British Possessions in tho past, two. years wa6 as follows:— .'-v . 1912. ■ 1913. - Australasia ...: : 13.48WC0 1 18.628.5C0 " Canada., 49.683,200 44.J19.CC0 ..ImliTa iitid Ceylon ... 3'.708.m) •■ 3K4,f00 'South' Africa 3,862.600 ■ ' 6.?94,7f0 Other, "British 4,626,000 3,270,600' ' 7^,642,«0 76,137,200 Foreign./countries obtained £84,448,600, of wbtnh tho'United States wan responsible for £18,746.100. Brazil for £15,093,400, Argentine for, £11,989,600, and Mexico for £10,641,500. . '-■COMMERCIAL'BANK OP AUSTRALIA: At tho meeting of shareholders of the Commercial BanK of Australia, Ltd., held in Melbourne on February 5, the chairman said that the profit was practically the same as for the corresponding half of tho previous' year, being £66,775, against £66,894, or a decrease of £119. Business hart been steady, .but tho general manager and directors had been very careful indealing with advance affairs during the somewhat trying period. The salient, points'of tho balance-sheet were'a Jarge increase in- coin money .at call, etc., and a somewhat moderate decrease in advances, movements which were pretty • well - concurrent. with tho experience of other in-, stitutions, during the period. - .Regarding tho future allocation of profits, he had now to say on behalf of tho board, and with their unanimous concurrence, thatnot later than .the next half-yearly meeting the board would have agreed upon a policy and be prepared to carry it . into effect on lines which they antieipated .vrould meet all reasonable requirements, and bo beneficial to the bank. He might perhaps be permitted to add, that the objective of. the. board would bo to bring the ordinary shares as epeedily as .possible into tho dividend-paying list, which, if . acheived, would, of course, involve the'payment.'concurrently of 4 per cent, on tho preference shares. ' • ' 1 TRADE IN ALLEN STREET. The supplies of stone fruit arriving in the local market show a marked 'decrease when compared with the offerings of the last. fortnight, hut Jhc_ pip varieties are now coming to hand in fair quantities I Owing to the lateness of the local crop ! tomatoes aro realising Very well for this : timo of tho year, but from now od larger quantities will bo coming to . hand. This week's Sydney and_ Melbourne steamers brought email consignments only, consisting mainly of pineapples, grapes, and pears, but nothing sensational in- the way of Values has .beon recorded. The usual shipment of Fiji bananas came to hand yesterday, but owing to' tho large, quantity offoring values were on the low 6ide. Potatoes continue to come to hand in' large quantities, and the market is rather weak at present although choice well -packed samples rcccivo every attention. Local onions arc offering in large quantities, values showing a slight decrease. Vegetables generally are in N good supply, and groon peas of good quality have realised very high prices during tho week. Fresh egga, are in better supply with rather dull prospects for next week. To-day's approximate values are*:— Grapes (local choice), 9d. to Is. por lb.; others,- 6d„ 8d.~; Australian, 7s„ 10s. per case. Pineapples, 6g. to 7e. ease: Queen pinea, 7s. 6d. to 9s. case. Pears.—Australian W. 8.0., Bs. to iCs. case; local W.8.C., ss. 6d. to 6s. case; Fertility, 4s.'to 4a. 6d. case; Duchess, 4s. to'4s. 6d. case; Japanese, 3e. to 3s. 6d. case; Autumn 8.C., 4s. to 4s. 6d. cAse. Apples.—Local, dessert, Cox's Orange, 6s. to 7s. 6d. case; Gravanstcin, 6s. to 7s. ease;' Permain, 7s. to Bs. case; cookers, 4s. to <a. 6d. case; Alfristons, 4s. 9d. to ss. case. Tomatoes.—Choice ripe, Bs. 6d. to 12et. halfcase; others, 7s. to Bs. half-case; green, 3s. to 4s. case. , Peaches.—Choice, 3«. 6d. to 4s. half-case; others, 2s. to 3s. lialf-ca.se. Plume.—October Scarlet, 33.-6(1. to 4s. 6rt. half-cape; Blue Diamond, 2s. 9d. to 3s. 3d. j half-case; Pond's Seedlings. 2s. 6d. to 2s. 9rt. , half-ease;* Burbanks. 2s. 9d. to 3s. 6d. halfcase; others, Is. 9d. to 2s. 3d. half-case. Cape gooseberries, 4Jd. to Sid. per lb. Nectarines, 3s. to J 3 . 6d. half-case. Oranges, 14s.' to- 15s. case. .Lemons, lis. 6cl. to 12s. 6d. case. . ' Vegetables.—Cabbages, Zs. 3d. to 2s. 9d. sack; others Is. 6d. to Is. 9d.; cauliflowers, choice 7s. 6d. to 6;., others It.-to

4s. ,6(1.; carrots, 3s. .per .sack; white tnxnips, 25.,. per sqck; swede .turnip?, 3s. to 3s'. .6c1.saekj green ....peas, 10s. to, l4is. - 6d.. per sAcfc; ; French beans. 3s. 6d. to ss. part-sack; broad, henna, 25.; .to -2s. 6d. part ; sack; rhubarb. 2e.' to 3s.- per dozen; parsnips, -ss. to 6s. per sack: celery, 9d. to 2s. 6d. per dozen; cucumbers, 2s. to 3s. ease; vegetable marrows, 2a.. 6d. per sack; pumpkins, 3e. to 3a. 6d. per. coee; beetroot, 3s. to'4s. per eack; onions, 10s. 6d.- per case; -potatoes," choice 4s. 6d. to ss.'6d„ others, 3s. to 4s. Fresh- eggs, Is. 6d. por dozen. • Customs duty collected' at the port- of Wellington yesterday amounted to £3512 12s. 3d. STANDARD INSURANCE CO. (By Telegraph—Pr«s Association.) . Dunodln, February 13. The Standard Insurance Company's report state's : that the net income for 1913. was £110,076, tho expenditure £86,900, leaviria £23,166 to he carried forward--to which' has .'to "be. added the balance carried, forward, from last-year (£6249). In June last an interim' dividend of £3750 was paid; i £10,000 has been added to the raerve fund and £35C0 to ho reinsurance fund. Of the balance tho directors recommend a dividend of 8 per cent, for tlio half-year ended December 31, the last absorbing £6000, and carrying forward £8176. • • -SOUTHERN MARKETS. . " : J Cliristchurch, February 13. Very little grain has been offering:during the week,; but a few purchases of wheat have been effected, Several lines have changed hands at 3s. 3d, to fe. 3Jd.. at country stations. '■' Farmer? have been busy harvesting all the week, and,-a few have' been' In' town .to offer camples. . It is reported tbat• some;crobs-that' were.cut and lying,on the ground .or'.in stock during the recent-.'wet weather ho.vo sprouted to soma -extent.- No fresh- busineee is ■ re-, ported in oat?.. Threshing results are turning out very satisfactorily,* especiallyin the Ellesmere districts, where yields: up to 100 bu6hels-per acre are recorded, - Barley .that- was out in the late , rains has suffered in- condition. The demand for malting, has eased off, 'and. 3s. \6d. is the top price now. offered. . V£ry little, era 33 seed ia offering, as-the'weather has been against threshing operations. - .The potato market iB etil 1 undecided.: and no further forwarded purchases have been made.' The' onion crop is now coining on the market, and is said to be of fair quality,, though .the onions so far offered are- rather on- the small side. ' Tho price quoted is £4 106. at stations.' ' FROZEN MEAT. Messrs. Gordon Woodroffo and Co., of Smithfleld,' writing under date- January 2, report that sellers with supplies of frozen meat'have been 'for weeks past, and are fltill, certainly, in-a favoured-position, and prices remain firm, the competition for any description of frozen .meat available being surprisingly good. None of the new sea-son's New Zealand lambs have come to hand yet, and it will be another six weeks or two months before any quantity arrives. In the meantime stale New Zealand lambs are almost exhausted and Australians are having a record sale. Fortunately the demand for New Zealand mutton ie a Tery limited one, as stocks are practically nil. Present quotations are, therefore, very misleading, although prices must- necessarily ho maintained, and probably advanced during the next few- weeks. It 6bonld not bo forgotten that .when suoplies arrive to any extent it will be. difficult to uet thei trade back to .-New, Zealand sheen after cultivating tho -which this season are so -very prime-consequently it .is difficult to forecast the future very' far ahead. T">de in Australian lambs continues brisk, the con sumption, being exceedingly ijood for the time of year. Although arrivals of Australian mutton continue heavy, they are goinsr into consumption, with remarkable rapidity. The duality ie excellent' generally, pnd the short *upnly of. New Zealand*. a.nd - Plates compels distributors to cultivate the trade for Australians. ' WHEAT. . ; ,• The New Zealand Loan and Mercantile Agency - Company, Limited, hayo received the following cablegram, from their London house, under rate February.il;—Wheat;' We have eold-an Australian cargo at 355. 9i: c.i.f. ' The market is firm. There is a fair demand,' but. the market is not to im'prb'yo at present. BANK OF ENGLAND KEtURNS. By T6l6graph—Pioss Association—Copyright ' ~ ,(Rec. A February 13,'9.40 p.m.) .London, February 13. Tlie Bank of England return issued for the-week ended Wednesday, February 11, is as urider: — ( ISSOE 'DEPARTMENT ' -Net* lira# £60,0'i6,000 Gov.debt" ... fi1.015,030 Other securities ... 7,«4.000 Gold ' ... '.... 43.077,000 . £60,626,000 . . , teaman ' BiKETN'S DEPASTJfENT. Proprietors' ' Govt., securicapital £14.553,000 .ties... . £11,256,000 Public da. ' Other securiI:olilts ■ ..<15,446,000 ties...' 35.096,000 Otherfi«.posits ...50.196.C00 ' Kolji .', „ 33.116.003 Best, 7-day and other ' * bills... .... 3.552.0C0 Coia... „ 1.079,000 ~ ' £66.747,000,'. ' £60.747,000 The: leading items of, .the Bank' of England return afford the following compaji*. •on;—. v • v ' -■'Thlsweak Lash w«ok Last yearBullion <2.077,000 43.362,000 35,704.000 Reserve 33,405,000 33,366.000 27,760.000 .Note oirculalion 28,110,000 28,430.000 37.681,000 Public Deposits 15«5,0U0 • 10.72J.000 :aJICO-i.CCO other Doposits 00.106.0U0 3a,663.000 ■'Proportion of . reserve "to.- . - - liabilities ,sM6u<' 53.36'. =. 54.81-r ... GOVERNMENT SECpRITIfS, - The following are the latest quotation* fpr Government .securities', with a comparison of those ruling'last week:—

BARK BATES QF 'INTEEEST.V ■ '. Tho Bank, of England rate .. was, W February 8, 1912, reduced 'from' 4 to 3} per cent., and on Hay 9 it was-further, reauced to 3 per ccnt. On;- August. 29 it was. raised to 4 per cent., and on October .17-to 5 per ccnt. It was reduced • to . 4JJer./ceiit. on ■ April 17, 1913. . On October 2, 1913,. it Was raieed w 5 per cent., on .January 8,, 1914, it was reduced to 41 per cent, oh January ■22 to 4. per cent., and-on January 29 to 3. n?.r cent. The Bank of France rate was reduced from 3J to 3 per cent. on. January' 23, 1908, and-'continued at tho latter' figure until September 12, .19111,- when it .was raised-.'to 3J per cent. , On May "17. 1912,; it was reduced to 3. per cent., on October 17 it-was raised to 3J per cent., and on October-30 to 4 per cent. On January 29. 1914. the rate was reduced to 31 per- cent,The Imperial Bank of Germany oil October 24, 1912, advanced its rate of discount to 5. per cent., and to 6 per cent. on. November 14. On October 27, 1913, tho rate was reduced to 51 por cent., on January Z2, 1914, it was ■ reduced. to 41' per ccnt.','and on February 5 to 4 per cent. • MARKET BATES;' OF DISCOUNT. The following are the market rates for best three months' bills:— London . Paris Berlin rate. rate. ' rate, per per per cent. ccnt. cent. This week 13 , 28 2J Lust 1 week' .115-16. 23-8 , 2J last year' 43 33 . 5 • Short loans , are quoted- at li - per cent,, the same rate flfl last week, as against 43 per cent, last year.. ■ • COLONIAL AND OTHER PKODCCE. Wheat—Tho market is activo and firm, owing to a reduction in the Argentine exportable • surplus. There is increased speculative inquiry for cargoes. Prices aro unchanged, and buyere are reserved. Australian, on spot, is scarce, and nominally at 38s. 6d. to 395. Tho New Zealand, supply Is exhausted. _ Flour is dull, ae shippers' pricos aro too high; 255. 3d. c.i.f. is obtainable for February shipment.' Oats are neglected. La Plata,' MarchApril shipment, 14a. 7Jd. Beans.—For New there is no demand. as English offers better value. Poas are firmer, and 445. 6d. is obtainablo for March-April shipment. Butter.—Tho market is a shade easier. Danish, 1225. to'l24s. Choicest Australian, salted 1105. to 112*.: ununited, 114s. to 116s. J.CW Zealand, salted, 114s. to 1155.; and for exceptionally good brands. .1165.; unsalted, si"-' €IceD Uenally, good brands, 130s. , ' Oheeso is firm. New Zealand white, 64a.; coloured, 665. . . Sugars-German beet. 91 pcr cent., net t-itre, Id. higher at 9«. per cwt.: first marks granulated, f.o.b. Hamburg, Jd. lower, at. lis. 5Sd., _ Bradford mrrk«t i« bourant, and there Is brisk inquiry, Birty-fcuri, J

284 d.;. super:, sixties, 28d.; common,' nifties, 1 27d.;. • fifty .sixes,- ZEJd.; • fifties, 20d.; fortyBlxes, .16Jd.'; forties, 15-Jd; : ". I'HE.'ME'PAt JtAEKDTg;, Co'ppe'r.-On spot,"lss. lower at £65' 7s.' 6d.; tlireo months. £1' la*. 6ii, lefrer at £64 75..6 d.-. ' • - . ... Tin.—On spot,. 60s.' lower'- at. £1B3: 55.;-. three months, 555. lower .-nut' £134 10s. ' ' Lead.—Soft fo-rei-Rn. £19 10s. Spelter.-£2l'7s.-6d. per ton. : Plg-irqn.—Jliddlesbora' • No. J,'- 51a.. <Jd. per ton; , .. .' ' ; '' ■ ' - biiiveh. ■' London, February 12. ' ■ Bar silver is quoted at 25gd. per ounce standard.- " .. VICTORIAN PRODUCE ' MaEKET. j Mclbourno, F.-brii.i.Tv lo Wh«ftt, firm, ,3e. 6d. to 35.. fid.; flour, £t 155.; bran and polldrd, £4 15h. ; barlev, Etur- ' lisb malting, 3s; 3d;.to is. 6d.; C<tpe, 2s; B»d, to 2s. <d.; oats, h, B<l to Is; 9Jil.; maizW £4; potatoes. £3 to £3 10s.; anions, £7 10s, to £7 12s. 6d. . .

Variation _ compated Price, with, last week. 2j%ImperiftVConaolj 76 1U 0 10s lower 4 .S. Jan.-July 103 0.. 0 Unchanged „N.S.W.IO^O-oOilr.-Sp 00 ID 0. Ipsbighoi: 3i ,,H.S.W.-1P30-CU •• . B8 0 0 Unchanged 3 „dJ.S.\V.1D25 Apl.-Ocfc 88 0' 0 : Unchanged i „Vic.'1920Jan.-Ju)y 102 0 0' Uucbangbd SJ „Vic.'ll>21-6 Jan,-July 06 0' 0 '''Unchanged 34 „ViC,-tte!3-10 ' S3 0 .0 - Unchanged 8 „Vic.-19iM)Jan.-July :8l ; 0 0 Unchanged 34 „S,A. 191o Jan.-July 9d 0 0 Unchanged 8 ,,S.A. lilltj Jan.-July 73 10 0 Unchanged 4 ,, Q T (11915-3 f Jan.-July 101 0,0 Unchanged ili ,.(JTdltW*2-47Jan.-July 06 0 0 UnchahgGd 3 „QTd U>22-i7Jan.-July bl 0 0 Unchanged 4 19-20 May-Nov. lft! 0 0 Unchanged Hi „£*•/• IDli-jOJan.-July Ihi iS 0 Unchanged „N.2.1W0 Aprii-Oct. £3 0 0 Unchanged 34 ! „V\.A.1015-3SMay-Nov • 92 0,0 .'Unchanged 3 ..W.A.lOlS-SSJIay-Xov 67 0 0 Unchanged 33-i,Tjis. 3li'/0Jan.*July ' WOO' Unchanged 3 „i'as. 1020-40. Jan.-July >2 0,0 .'Unchanged