COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1990, 21 February 1914, Page 8

COMMERCIAL ITEMS.

. '■.'■■.■ "INVESTIIENT BHAEES.; TheKr-wero-no'transactions in invest'jriemf. shares.'- yesterday. The quotations' ■ were as ■under:— ■ • •; ■ ■ :... . .'.,,.:'." ..'."".'. .." .'.'-.Buyers Sellers. - , ■• ■ '- i £s.d. -£j. d. " Bank N.Z: (rights) .......... : — 5 3 0 ■National Bank • — 5 8 0 Metropolitan, Bnildintf ... :— ' ' 12 7 0 . N.Z. and Biver Plate 2 .1 9 — Well. Trust and Loan... 7 5 0' 7-6 6 Union Steam (ordO I' 4 6 15 0 Itosciel' Woollen .i........... — 312 6 Well. Woollen (ord.) ....:. 3 19 0 — ' Well. Wobllon (prof.) .:,.., . ~ ".::." J l o TaTingamutulTotara ■'...-.•.: 2 5 9 • ■• ' •■*■ — : Wnd.ond.Co. ..„ _ ','.* 600 — mi -.;■.%.:.■..:„•,-.;.„.' _■-'_ •".-■'i'-v'e. •■ -"•/ ' _ MAEKBa 1 . . '.■The-following'are-extracts-from the tcXiewe of sere\al London woolbrokcre:—• '■ The-year-(19W)-witnessed no monster ■ strikes, interferintt. a's in the 'previous yearXSyitUithel.whgle..maoluncry,^oi. trade;. thoußh the xumbUnjTs of labour discontent' w«re' audible'enoUKh-to those who had ,'. ears to - hear. - BUt .the series'." :bf Balkan >a.Ts-"(with,■■ .friends- and foes continually fxebJmgiris, rqka, ,'ani yriih frontiers flied nne. day only to -be -violated tho next) taeceesarily. caueert:»/ cencral malaieo with 'lie. most -dcpreEsineeffeet3 on busrncEe ■ Xenerally. ■ ■ : ■ ■ ■. :.A.Bd the textile industry ' suffered with the TorU-notwithstandine tho stimulus aup- , Clieti by tho very considerable orders of ■war material.?. .Moroovijr.j it capTiot, be"'denied that tho': lons, continuance of high ; prices for wool hoe caused,, as it always will in the long run; a coneiderable shrink--ego in demand, obsef.vable also in many other'branches of trade, and, like the cessation.'of ;tho- bIK -uiiward movement in .railway trafflcs. pointing pretty concluelvoly to the f«ct that the trade boom of thefdstrtwp years 'is over. • \- Tho rovisod American too, so lons and laniioxisly awaited, has conje too late „to ..improve the situation or- alter the character of the ytor,-which has euffered, like, ita 'immodlate from the ■ftbEcnce ot sustained /imeficaa'competltion. ■ ..In spito ..of-these ad verso factors, prices ■;for : the'TOw materiol havo varied but little: "dUTln'R.'.'-the-' past l?/,:months,■ and merino; ,'iindf,co«rso cros3.brpd ■ axe'-now nearly on- a' ' y)a,r. pf,Jaet'. foai.! ivhJle -Quo ■ -.tain medium. oroeslirod'aTO 5,-to'M per coiit. '',■;;" '■'" '■■ ■ This" ftldinWnancc, of 'prices' i 3 "doubtlese ■"attTibul«ble' ! BTimarily'.tfli'BmaUor ' les.-f'The , anstralasiah" clip shWed <v de- : - cfeaEe-.ot>ZCO,(KipT-.baleeiibut actual imports (throußk-rPhiftinKrof'.arrivals) wero only 167,C()0;jholes le3e'..fiJ( ,^oni l tha.Cape there was a smaU;, auitejUnexiimjtcd.vincrcafio of 21.000 'tho" Elver" , Hate.: showed ' a' ehortew .of'.Borne. 60.000 bales, crinol to"- " about' lSCCOOedlonrnl.'-baldif.; , . The "trade tie-. ficlency of -about 3CO.CCO bales,.,-Kith the t»suilt that/.'demand raw. "article. ' was air along well.abreast, of .the-subnlr.; Tor.spinners., of.'.fine'-yants; the year has not, rrpved ■■ fatisfatttorj-;';; W ; iiE -wool,, con-

tinumß all alon» at such a J- "gh level and i voxn prices i» the Inst six motithe Btcndily dropping under an attenuated demand; profits have in most cases, been only small. Spinners of knitting yarns on tho other hand havo had to cater lor a ■very keen demand, and they ea» look back on a period of very sreat prosperity., Dealers have had a, difficult-and,-unpro-fitable year. Whilo wool prices remained ■hißh, demand was often of a mere hand-to-mouth character, so that tho chances or a ..profitable turnover were puiall. even had not ordinary caution- discouraged speculative purchases on a largo ecale. . THE SHITnPIELD MARKET. Considerably more than one-third of the moat imported into the United Kingdom passes through London's great .market. Dunne: 1913 there were 432.112 tons of.me.it Sij 'descriptions marketed at Smithtldd. That total includes bee-f, mutton. Jamb, pork, rabbits and poultry, and tho total is only slightly more than was marketed ,in 1912/ -when 430.283 tons were' dealt with.' Beef, mutton and lamb of all Kinds comprised 370/25 tons, or 85 per w« n f .i he to . tal «» antit r Pl«««<I on tho Smithfield market last year. Frozen meat from .Australasia accounted for 99,464 tons, while frozen and chilled meat from South America, azßrOKdted 172,809 tons, two deeonpttons together reprceraUng 63 per cent, of the aggregate of 0.1 l meats marketed at Smithlleld. Ona of tho ouUitandinu .features in connection with the past years marketings is the email percentasro (21 per cent.) of -home-killed meats consumed an London, as compared with the. mucli eroater nercentaio (60 per cent.) consumed in the United Kinedom Oβ a whole. - NOTES. '..'•': .It is csUmnicd that 933 war and.mercliflnt ships of 2,186,607 tons gross were launched from private yards in the United-Kingdom during tho year .1913.. This is-the highest aggrewito ever known. It makes o. Inchwater mark in-the history of thc.Rritisli shipbmlduiff industry, and ono which -is not • likely'to be exceeded in the year 1914. , Total marketed value o? all kinds of' fish, nelT'products, and marine animals taken by-Canadian. 'fishqrmen -during the' vast, yeo.v amounted'to no. less than; £6 677,893. This total, according to: tho'nnnual Teport of the Fisheries Department, ,is £255.682 ehort of 1912. .However; Jast year's total was £940,488 greater-than any other previous total, so tint the result for tho year .IB"satisfactory. To tho total the'sea'fishcries contributed £5.863.155. and tho inland fisheries £814,740. British. Columbia easily leads in the value of fisheries' owing 'to its salmon interests/tho totnl product being £2,891.098,.an increase of , £155,673. The sralmon industry furnished over f2.MO.CCO' of the "above-named total. Nova Scotia 's second with £1.473.011, n. decrease for tho rear of/nearly J8408,0C0.. • Jfcw Brunswick' stands .third with.a total o.itch valued' at.£SS2.OU, -a -decreostf of £122.421. Ontario is -fourth with .£568,576, nm increase In xaluo of £127,488. .. . '"■Th'e'"Asahi" states that at the end of 1912 made overtures to French capitalist, for a loan o£' 1.C00.000.CC0 francs (£40,0C0.C00). spread over fonr years, but that these wero not accepted. Later, the paper says, the ■ susreested total. wafl reduced to'--6C0,000,0C0- franca, to bo secured b'y'Mortga'ue l Bank debentures.'and 1o bo u;ed for the development o f tho ration.-J resources,' with the result, that .negotiations fl.ro- now ' proceeding/ ' ; The Interstate Commerce Commission has c6raplete-d on investigation into'tho ownership, of freight cars in tho United Slates and .for.tho first timo has definite figures e-s;':to."freiglit equipment of American railways. , ,There arc in the United States , 2;3Oo.qCo';freight cars owned by tho railroads'ana. 140.000 owned by cm companies. or;othef private ownerships, these-cars be- : and tank ears. Private ;partj<;s own:nioro refrigerator'cars thaii ;the.".railroads, the private Hw-lino? o'Wliitij*;s4,Coo and thei railroads 49,000. There are:43,OCO,freight, cars iti:thc ttiiited-. States used solfely for the transportation' of automibjjiloso,:. ~- -.. ■ -.-• . ■■•. ■ •.••■"'.■.'- ::v' r IN ALLEN- STREET.. ■/: Shipments 2 of' both, fruit and vegetables generallythavo-been very heavy during the values of.'most.lines have suffered on»;conMau«nco. Tho" Sydney ehip-•meht;'this-,W€;ek coneisted mainly of .pine-, appteSrrfw.hich. were in poor order,' and sold-ytlvilc-w/vijriees. -T.omatoe3.are.comin2 to. hattteiif.vjtajreased.'.quantities^-.. but' values Potatoes aro rcccivinpr more attention,-and tho fame remark applies', to onioMj-.both. larcd and picklinit. The- egK'maTkot : is. rather ..dull,.' arid rvalues hare-'receded slightly. .To-day's approximate. ,yaluc3 ore .'as'follow:—

, Ordrigeß,-15?; to 16s.';oase; Messing, lemons, lto.'.'jed.^eese..•■-•■,••■' ■■■."■*..;.':' '■'"■■ i. , ': :, . .Grapos.—Local, choice. Is.. to • Is. Id.; others,"7d.,t</9d. per lb.; blaokberries, 3d. per lb. ... ■ ' . V ' . Tomatoes.—Choice, ripe, 10e. to 123. 6d. per half-caee; ohoice coloured, 6e. to 7e. 6d.; ereen. Is. to 25., half -case. , ■ Queen pines, 4s. 6d. to ss. per case: pineapples., 3s. .to 4s. 6d. per case. . Passion, fruit, 63. 'to 7s. per quartfr-caee. Pears.—New Zealand-grown- Williams, 3e. to 4e. casfc; Duchess, 3e. case; Napoleons, 4s. to. 43.-6 d. case; BeWUnots,' 25.. 6d. to 3s: case.. '.' . , ■ _ ■ • . Bananas, 4s. 6d. to 6s. case. ' Greengages, ss. '6d. to- ,6s. hcilf-caee: peaches (choice),, dessert, 3s. 3d. to" 4s. per half-case; others/ Is, 6d. to 2s. 9d. per halt-case. Eock melons, ss. to 6s. case; watermelons, 6d. to 2s. each; quinces, 4s. 6d. to ss. per case. ■: Capo gooseberries, sd._per lb. Apples—Dessert, Coxe's Orange,' ss. 6d. to 6s. 6d. case; Jonathans, 4s. to 465. 6tl. case; Gravansteins, /3s. 6d. to 4s. tase. Apnies, cooking,' 33.: 6d. to Is. 3d. case. Plum?.—Monarch, 2s. 9d. to 3s. 3d. ,pcr half-case; Blue Diamond. 3s. 3d. to 3s. 6d. per half-case; Pond's Seedlings, 2s. 3d. to 2e. 6d. per half-case; Prune, Us. 3d. to 2s. 9d. per half-caee; Ogan, 2e. to 2a. sd. per holf-qose; Golden Drop,- 2s. 3d. to 2s. 6d: per half-caee; Egg, 2s. 3d. to 2s.'6d. per half-case. ' . , Apricots, ss. 6d. to 7s. per half-ease; nectarines, 3s. ia. to 4s. 6d. per half-case. Vegetables—Cabbages (choice). 2a 6d. to 3e.;'othere, Is. to I*. 6d.. per sack; cauliflowers (choice), ss. to 65.; others, 2e. to 35."6 d. per Back. Pumpkins, 63. to 7s. per sack; marrows, 2s. 6d. to 3s. per Eack. Lettuce (choice). 2s. 3d. to 2s. 9d.; others, Iβ. to Is. 9d. per case. Swede turnipe. 2s. 9d. to 33. 6d. per cwt.; white turnips, 2s. to 2.1. 6d. por sack; bectr root, 3s. to 4s. per sack; red cabbages, fe. to sa. 6d.per sack; parsnips, ss. to 6s. per Back; carrots, 3s. to 3s. 9d. per sack. French beaiis, 2s. 6d. to 3s. 6d. per part sack; broad beans, 2s. por part sock; greeni peas. 10s. to 14s. per sack. Garlic, Id. per lb.; eschallots, l*d. per lb.; omons, lCe.:6d. per case; pickling onions. l}d. per lb.; mushrooms, 3Jd. to 4d. per.lb. . Khubarb, 2s. to 2s. 6d. per dozen;'cucumbers, 3s. per banana case. Potatoes (choice, well-graded Eamnles), 4s.'6d. to ss. 6d. per cwt.; others, 3b. 6d.to 4s. per cwt. Fresh eggs. Is. 5d.: market dull; preserved eggs, Is. 3d.; market dull. Customs duty collected at tho port of Wellington yeelerday amounted to £2091 3a. 6d. . . 1

SOUTHLAND WOOL SALES. (By Telegraph—Presi J.ssociation.s InvorcargMl, February 20. Tho , second wool Eale of the season was held hero ■ Urn afternoon, when a total of 6222 bales was offered and sold under keen compotitloh from American and Continental houses. Fine crossbred and halfbrcd wools brought prices in advance of thoso ruling in tho January eale, but strone wools or pieces not. so ma.rkcd. .. The prices ruling, <13 compared with those at tho January sale, were as follow.—Merino, super to good. January, 1914. none offering: -. February, 1914. none offering; good , to medium. lOd. lo 9id. end 10d. to 9Jd.; medium to inferior, BJd. to , 8(1. and 9Jd.'to 85d.; halfbred. fu.per to good, lljii. to IOJd. pnd lZjrl. to Hid.; good to medium, IOJd. to iCd. and'lljd. to lOjd.; medium to inferior, 9Jd. to BJd. and 10d. to 9d.: flue crossbcrd. super'to good. llid. to IOJd. nnd 121 d. to lid.; good to medium, 10} d. to 94d. and lOid. to 10d.; medium to inferior, .91(1. to BJd. and 9Jd. to 9d.; strong crossbred, Hupcr'to good. 10d. to 9id. and 10{d. to .10d.;good to medium. Wd. to Bjd. and 9id. to 95d.; medium to inferior, Bid. to Bd. and 9d; ; to Bjd.

7 CANTERBUHY GRAIN MARKET. Clirl9lcliurch, February 20. ' There-'has been, more wheat offering this •week, and a fair amount changed hands. Many of the sample* submitted, however, arc not in good condition, nor of jtood quality.' This is the case with grain that is on the thin side and lute been more or less weathered. The duality Is, howevor, expected , to show considerable improvement in.later offerings. Sales have been made upto'Js.-W. for Tuscan and Hunters, and |3e.;'sd. to ,3s. 6(h for Pearl at country stations. '■■' There is seid to bo a larger' area iH"'Huntera'ond Poarl this season. A fair quantity of oats is on offer, but the demand. Iβ-. not very active. Mo?t o£ the lots coming forward are feed linos, milling samples being scarce. The demand for oatshcaf is weak, and 4s. 6d. Ie all that is wow belrtfT offorcd. A few lines of cocksfoot "have changed hands. Most of the ■peed 'offering ie , on tho light side, and bright heavy samples aro expected to bo Eomeivhat scarce. Averfltra linos have sold at.'Jd.'a.m]'-3id,, and bright heavy samples should probably command 53d. and 4d. Vcrr little'!fonvard business hna yet lieeb rtone ih'potatocs. Buycre are offering £2 10s. at, ooiintryist-atione. nut few faruiere have TCt -acopbte'd..'.thie fißure. The North Otago and Souw; Canterbury crops ■ aro affected to aconsiderabla extent by bllcht, and the disee;e. lias; aIEO thoTTO itsolf In Korti Oan-

terbury and Southland. The: increased area, of the crops this Eeafion should, howensure a sufficient -supply lor • tho Dominion's uso provided that the blieht doe? not'estend any further. On ions are rather cosier, and are seliinc at £4 to £4 lCs. at country stations, BANE OF ENGLAND RETUENS. By' Teloffraph—Pra«s Association-Coprrijht ' February 20, 9.25 p.m.) London, February 20. Tho Bank of' England return, issued for tho week ended "Wednesday February 18, is as under:— ISSUE DnpAßTitEst Keto Issut £59,891,000 Gov.dobt ... £11,015,000 Other 6eouri•,V. '■ tteJ ... - 7,434.000 'jsC# . Gold „ ... 41.d45.000 *f" . f59.694.000' ' £69,894,000 Backing Depaethext. Proprioters' Govt, securl-' capital £14,553,000 ' ties... '... £11,256,000 Public do- . Other stcuriDosiis ...17.225,000 tics 37,143,000 Other d«- ■ posits ... 45.D55.C00 Nets) . ... 31,816,000 Rest; 7-day and other bills... ... 9.562.0C0 Coin «• • £ 1,053.000 £81,'293,000 £81.298,000 Tho loading Items of the' Bank of Enirlaud return afford tho following compari»on:— This weak Last weak -Last year Bnllion /' 41.445.000 42,077.000 36.652.000 Reserve 32.899,0'J0 33.495,000 28,374.000 Note circulation !8.078,MM 28,110.000 27.788.000 Public Deposits li'.Stf.OCO 12.445.000 23,540,000 Other Deposits 45.058,000 50,196.000 37,676,000 Proportion of reserve to liabilities 52.08 53.46 46.33 GOVERNMENT SECURITIES. The following are the latest quotations for Government securities, with a comparison of those'ruling last vre^k:—

BANK BATES OF INTEItfcST.. The Bank of England rate ' was, on February 8, 1912, reduced from 4 to 3J per ■cent., and on May 9 it was further reduced to 3 per cent. On August 29 it was raised to 4 per cent., and on October'l7 to 5 per C , cnt -S J* , .?.? 6 r «t>««'i to 4J per. cent, oh £P"J, 17 ' "«• On October 2. 1913. it was rawed io-5 per cent., on January 8 • 1914 it was reduced to 4J per cent, on January ■ T CCnt " and : on Ja ;? u »rx 29. to •The Bank of France' rate was reduced lrom it to i per cent: on January 23 1908 and continued at .the latter figure 'until' September 12. 1911 . when it was raised to S , On Ma} ' ■"• "12. H waTre. duped :to 3-per cent., on October 17 it was raised to 3J per cent., and on.6ctob«r 30 to 4 per cent. On January 29. -1914" tho rate was reduced 'to'JJ Per'cent. wf j «?? rw i ' Bank , °. f Germany, .on Octobcr_24. 1912, adranced its rate of. 'discount W if 6 'Wγ. cent, tosXm. ber 14 On October 27. 1913.the' rate * w £s reduced to ,5J por cent., on :January 22 1914 it was, reduced to 4j per; cent., and on February sto 4 percent. ~-'.'. ■ '- MAKKET'EATfiS'OT .DISCO/rjNT.. ; "". . The _ following .'are 'the - indrketV*rateß for best three.months' bills:- ;. : ■ _ r ■ ,- London/Paris . Berlin .•■••■' rate... rate: , rate. • >•• ■■. . ■■■■ ■• Pfcr.. per .■■ -per „'. . . cent, ■ cent. cent , This.wtek-- .:. 25 23-8 3 ■■. Last week....; 15 .. 23-8 . 25 ' -lest year. ;...;;4J ......33..;.- .5J.,; Short loans arc auotcd'atffos''per conk as against lj per cent. last, week and' 43 per oent. lost year.. '.- . r -, .-. :>. COLONIAL.,AND OTHEB .PEODUOE. Wheat-The market is', quiet;! and .prices ar^ .occasionally .in l buyers', favour. * Aus-twlia-n,--on Bpot, is--unchanged.' ■' .. '*«««" '^ uie - - Aust ralian.■patents.' ex stole, itjs,. Oα. - -.-■'. - ■-....', Oats arc steady' arid quiet. Lβ, Plata March-April shipment, 14s. 9d. ."*/""*• Beans and pcae are- ouict and unchanged. Butler 15 firm, nnd prices generally are unchanged, though tending upwards. Australian, salted, occasionally 113; -unsalted occasionally 117b. .<' . . ' Cheese is firm and unchanged.' '■- Sugar.-Tho market ia dull. Qennan beet 88: per.cent, net titre, Jd.. lower, dt 9s. 4d,' per cwt.; flrst-mark granulated, f.o.b. Hamburg, id. lower, at He. 3d. ■ ■ ■ Bradford Tops.-Thore is: good inquiry and -fair .business.' ■'] Sixty-fours, Jd.' higher at 295.; euper'sixties; Jd. higher, at, 28Jd.-fifty-sixes, 3d.' higher, at 22} d.;' fifties,' }d! higher, p.t ffljd.; forty-sixes, }d.' higher at 175.; forties, id, higher, at 153 d- -.. ' TIIE METAL MAEKETS. ' ' Copper— On'spot, lCa lower, at £64 7s. 6d per ton: three months', 15s. higher, at £65 3s.' 6d." ' . ' " Tin.-On spot, 50s. lower, at £180 15a. per ton; three months', 455. lower, at.£lß2 ss. PiiM'ron.—Middlesboro' No. 3, 3*d. lower at 51s. Id. per ton. '• Spelter.—Unchanged. .at £21 7e. 6d. per ton. . ' . LONDON MAHKET3. .; Messrs.' Dalgety nnd C 0... Ltd.. Wellington, have received a- cablegram from their London office, dated February 19, as follows:- .. . ■ . " ■'':.' ■'.... Wool.—Market, very firm, expect a, rise in prices at next piles of .5 per cent. ' Frozen Meat.—Market quiet, rather weak, but unchanged. - . Tallow.—Medium and inferior'descriptions 3d. to 'Jd. per, cwt. lower. Good colour mutton, par to 3d. per cwt .higher. Other descriptions unchanged.. . ' ' . VICTOEIAN PEODTJCE. By Telegraph—Pro-.« Association—Copyriehi Moibourno, February 20., Wheat, 3s. 9jd.; Hour, £8 155.: barley, malting, 3s. to 3s. 6d.'; pollard, 35,; Cape, 2s. 3d. to 2e. 4d.; oats. Alcerian, Is. Bd. to , le. dOd.: maize, 3s. 10d. Jo 3s. lid.: bran and pollard, £5; potatoes,' £3 Eβ. to £4 10s.; onions, £7 103. ' SILYEE. London, February 19. V Bar silver is Quoted at 26 9-16 d. per ounce standard. ■■.■'■ .-.-:"

Variation ~ v compaied ' Frlc«. with ■ ; . ■ last weak* , £ «. d, 2j% Imperial Consoli . 76 .5 .0 • 5s lower 4 ,.N.S.'\V.1933Jan.-July 103 0 ,0 Unchangedii „N.S.W.1930-50AIr.-Sp' Do 30 .0 .Unchanged 34-„N.!i.\V.-lC30-CU. 88 0 - 0 -'Unchanged 8 . ..N.S.W. 13-25 Apl.-Oct fs 1) 0 Unchanged 4 „Vic.l8H)Jan.-0uIy •' '103 0 0 Unchanged 34 „Vic. 1M1-6 Jan.-July eg 0 0 Unchanged 34 ,,Vic r lli2lMD ' . 63." 0 0 Unchanged 3 „Vie. l!M)-10Jan.-July SI 0 0 Unchnn|J«cl Si .1016 Jan.-July oj 0 0 Uhchangod i ,.S.A. Idlt, Jan.-July 75 10 0 Uncliangod ,ii .101 0-0 Unchahged u i}£t 47, !'"H uly WOO Unchanged ?. "S 81 0 0 Unchanged j, "S'S'^?' < il> No , v - t Ifti 0 0 Unchanged » -v'.f J 83 0 0 Unchanged "wL JSf nrlUOc f- 83 0 0 Unchanged o® ••"•A-l9l5-35May-i>ov 'J3 0 0 SUs higher oj 1 'n-l i^ a 1'-^° v .67 0,0 Unchanged ? "& , M 0 • 0 • Unchanged 3 „ lasJlWJ-JO Jan.-July >2 U u Unchanged