COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1999, 5 March 1914, Page 8

COMMERCIAL ITEMS.

ISTESTMESt SHAaES, There were no tranaaetfcns i n inw.tment shares yesterday. Tho quotations svere as follow:— Buy-crii, Sellers. £- s. d. £ s. dBank New Zealand - 2 oft Bank N.Z. (rights) 4 17 6 6 0 0 National BanK -- 0 8 j Equitable Building- S 15 & — N.Z. and liivcr Plate 2 % 0 - Well. Trust and Loan 7 5 6 -- ■ Ohristoliuroh Gas 6 IS 6 — N.Z. Insuraiico 5 14 0 5 14 0 Gear Meat (£4) 14 J 0 Kaiapoi Woollen S 5 « — Jlosgicl Woollen •-• 3 12 6 Tarinsumutn Totara, 2 5 0 C. M. Ban!;*, Ltd. , 1 % 0 — Golden Hay Cement 0 IT 3 — Ward and Co 5 0 0 ~ W.i'.O.A. (£1) - 16 8 TnE MONEY MAIJKET. the eha reltoldcrs ot the Xstional Discount Company at the mccttnir held in London on Jaautaj'y J6, Jti*. S. i Jlendl, in dealintr with the monetary nut. look for the current yew, taid that >.ia»-<: the turn of the year the.ro Hid beat grcAtcr ease, and thouch uallt- hi frceh

capital might still be expected to be heavy, it was doubtful how thiieii ej the money still wanted was what, was termed "new" money, and how tntß'H oE it wfto wanted for the fnndinß of flnating debt, which, when it was funded., would set free credits now tied up, TiM- need for ca'Utioii (■till continued. For some lime pnst. titers had been evidences in Europe and elsewhere of a demand for cold for reaß*m=3 othftf thari economic. To tome extent this deraand might have been satisfied by recent lares accamulatioils. and iii tlte o-niii-son o.f many goc/d iiidpres recent banking and currently legislation in Uio United States of l America would have tiic effect of considerably augmenting tho available supply of geld for the world's needs. Tho establishment ef gold standards was in it* self a thins, to be encouraged as showisi,r the d.osirn for stability of currency. The process. of acquiring gold for that purpose in Braiil and Argentina, for example, bad booh sonieiimes JBCoavenieiJt to Ear-crpe. and oven more iftcouvsmeftt was the hoarding in India and Esjspt. It must bo realised that the -advance and development <3f civilisation ad temporarily outBrown tho f.-ftpital avaslablo for that purpose. It was necessary for new countries to curb their spending z*al aid to rccosr niso that, only absolutely services esuld be financed. If this leas-en were laid to heart the equilibrium might be re« Stores more speedily than some thotmht; and in Uio Gljihion of ntany jud'Erea this year wa, ; likely to be one of eois.sidcrebly easier conditions with regard ta> money and finance than the one just closed.

FUTURE PRICES OF HIDES. Thsre is overy probabilily that hide vq.lu'B3 this year will at least bo mafntahi*a a*, the StisrUest. level reached in 1913. if they do not fto above that. Tho visible stocks of Jjjdes in- the rhief Euro* i«aii markets a-t tlws cad of last year and' in 1912 and 19il show as under:— 1913. Wl2. IJli, Hides. Bides. Hidi«-.. Antwerp HUM 13,631 UISW Havre 124,210 43,€32 5fi,JS5 . I.ivcrpoo.l ' 2.0,600 2,553 4,464 357.430 SWaT 21M19 : StaSieties of one of the ehict European', markets, which is Hanihui-e, are not available, but sojtte estimates arc that the. holdings there are la-fw, and possibtv ainoant to over ZSI3.CM hides, as the total stocks at alt four centres ate estimated ot over 6CP,C6O. One feature dwetesed in the abtvvo fteurcs' is that the miHsnnlly heavy importations to tho United States durine WIS wew due in part to the fact that America purchased large fjuautittes of ealadero slaughter hides, which ordin-oj-ily Co chiefly to Burooe. while last year tin's variety was nepsiceted, as the teaifer , made from thcao hidea did not sell tin to ■ the expectations cif th« talincrs who bought thetti. Coasequently the stoeks of hid«s in Eurojie, which in 1912 were drawn down to low proportions by tho heavy ship-. menls to the United States, were materially ■ increased in 1913 by the return of these ■ bides to Euronfr. The largs holdittßs in Eißfope have ba,d a father denwesfm? influence of lato on the market, and bavd served to cheek any. a/Snmciag tepdepcy 3n prices, but as the United States is operatintr eiteiisively in the River Plftte, lesBcning fte importatvons by Enrorie, it i* very probable tli.it European taiitriers will have, to draw upon their reserve eup-plies. ■' which may reduce stocks very materially, The demand for leather i« bound u> te : strenK ell tbrotwh the year, awiii.? to the extra pressure of supplying Oio adAitiohal recniits to the Euro-pean armies with eguipnicilt.

LQNDO-N' WOOL SALES, By 3>legr-aj>h"i'rei?3 Association—Copyjight London, March I. The wool sales opened brisk, with exp.itCd biddiug. Mefihos <idVo.necd 5 to 7J per cent., and crossbreed fully .10, (Bee. March S, 1.1.35 p.m.} Londoni March 4. At th© wool sales. 6723 boles were offered, including 6644 tales from New Zealand. TlWfo *a.3 an excellent selection of crossbrede, and a- crowded, atteiidatiso of buyers, there being a. record number from the United States, T'fe> keenest competition prevailed 'for all classes, United States and Yorkshire buyers biddins excitedly for crossbred*, wd Yorkshire and the Continent for qjetir.oE.

nraa cositoussHtNEK's sepokt. The Department of AgricaUiire, Indus-, tries, antl Cr>jnwerce has rceeivftu- ttat faliowtitg cablegram from the ftig-li Cowimis-•sroii-er for New Zealand, da-Wd. Londou, Maruai 3, 1914, regarftin-g the opening of t.-Uo eeoand series of eeloina! wool 'ealeS!—"The' wool sales liavo cowme-nccd. ■ There is a largo attendance of buyers, and.the cOBi-pe-tition ia great.' Americans *ro buying .freely. "Phe market is very strong-. Jtor-. inos averaga Jd, and Id. ur.r 16. shove closing rates ,a,-t last sales. Sixty thousaEd two liund'f ed bate of . Mew land wool are -catalogued." -. ... ..-, ■■-~

-. PSIVATE CABSE. ADVICE'S. Mcssrb". Dalgetyand Oomijany, Ltd.. WeiMjigtoßi have jsist received, cjibie InfoTniition from their London offivo its fol-' lows;—"l'he wdol sales have opened, and the attendance of buyers is Jorge. Competition ftf very animated, American buyers are operating, te eomnared with last sak,s clesing rates. ; t-Ufire i-i an on merinos generally of 5. pc : r cwt. te 7J pet cent., She erassMed-s fh per cent, advanc«, and on medium aftd- coarse crosslireds 10 per cent, advance." Messrs. Levin and Co. have received the ' following -cablegram, from London, dated ifaroh 3:—"Merino and fijre crossbred advanced! 7i per cent.; medium aud coarse ci'ossc,red.> advanced 10 jter ci?.nt. s and iii many oases advanced rather more. Very large atte-hdijivco of buyers, including Americans. BWdin-g throughout the sale exceptionally keen."

Messrs. Murray, Eoberts Mid Co,, Ltd,, have received the foljowinfe cablegram from thoir Loudon friends. Me-Si-rrs. Sanderson. Murray, and Co., Ltd.:—"Stalls opened strong! large attendance of buyers, co'tnnctitiod, brisk. Merino and fine, crossbred market advanced 7i Per cent, to 10 pe* ecnt.; pro-ssbrcd, coa-fsc to inedium, advanced ID per cent, to IS pet sent."

The -United Farmers' Co-aporative Afcso-ci-attoa, Ltd.,' have received tha foHowinc eable.graai'from their Lo-hdan agents, under date Mawli 3:—"Tho second scrtes of wool 6ales opened te-dav. and Wero largriv »i----tniided by Iloms, C-<>nttaental, and Ameri' ■ca-tt buyers. Fine crossbred advanced: 5 to 7 per cent., and medium and coarsetWiOired advanced 10 Ser cent., as cowpared with clealus raics flit prev'njus sale."' The Kcw iSealailct Loan' and fcfcantils AsjiU-cy 'Co-nitiany, Ltd., have received the following cablegram from their London, heuse under date March ?:-"Tlvere was a full attendance at the opoiniuig o-f the, sa-lert to-day. co-m-petit-30.u \>f Hume. Continental, and iAnjerican bnycrs being active,, and prtes, as compared with the close of prcwdteir series, ruled about 10 per cent, higher fot wtosse-i-ed wools, asd about 5 per ce&i to 5* Sw cent, lriirher for merino woods, The owning catelttgues were fairly representative.''

Messrs. Abraham, and fFill-iams, Ltd., have received the following edMeg-Bv-m {r-o-m their La-ndon agents', dated March 3:—"The Starch ee'Hes of sales (Vpened t<)-d.!iy to a larse .at-tentanco of liuyers, ineluding Ametieans. and the coitmetition was very active. Prices, as compared wit-Is th.e dosing rates' of laet- series, are «s follows—Fine crassteed a;nd merinos, 7J- per cent, up; medium and coarse- tirossltfefl. t'O per cent, up, with the market firm. The prospects are, considered good/' Messrs- V- afl d O. TurnbUtt and Company, Ltd., have received the fiillowiu-g cabled hiformation froni their London agetits:—"Prices have advanced 10 per cent."

I'jie Barft of Sew Zealand ha,s receh-ed the following cable advice from its London -o.flko, dated Starch Si—"The sales have opened with strong coAnotilton laras wtt'eiidancß of buyers. There is an active deifiand bv all branehea of. the trade. Total oBA-iititv of Sew Zealand wool availkhk is 68,060 bales. The tnariict is i-tTone for eaarsft crossbred. Prices arc Jfl, to id pev Hi. higher. The market is MroiYS for llsic an 4 jscdium «rO!*!»reil. Prices ore id. ta l*d. per 1 -t>. higher.

FBOZtS: MEAT. ilessr*'. KUbcrt Anderson, and Co, (StciSra. Melton. Eliett and Co., local ascntsi. writ. ibj uiiaor date Loudon, January i>S, rtpoit as" follow*:-- „, _ . ... , IJome-grown..—The- Hotnc-srown madevt coia to tie's dull, and lower nriefrj have ween accepted to meet tho poor demand. Scotch, sides have ruled at 6ad, to 6M,j Englwh, "6d hi 61d, Mutton: Scotch, (flu. to ?ad,; El frftflv, Td. to 7*d,; Dutch, 6s. to 7d. Tees: SeoVh; J*d. to 85d.: E-asrtish, 7.1 d. to 7-Jtl-; 'Dutch', $33= to Hi. I'oili, Sd, to 7id, Yea-i, Bd> to Sid, . , Frozen,-The first reercJentauvo -arrivals of New Zealand meat -show Bood quality. The sale, however, has b«* affected by tho adverse "weather conditions, and tho dearncsa of the meat. Determined efforts are being Made to prevent very high prises being realised; niany buyers ore Isovjns New Zeatond meat alone. Jluttfln.--Aus-U - alia»s command most attention-, hut Plate sheep a.-re eagerly bought in "io\v of their quality. Heavy carcasses are not wanted New season's Mew Zealand sheep are a. stow sale at 4 16-16 d. to s'id. for best brands 55-6(1; AtrstraUaii best, 10-M, 4 146 d.; Secondary, 36-SS, 4 l-t6d,;e\v*S, J 15-t-6d.; South American, 40-55. 4ict.; 56-73, 4 3-Sd, Old seaf-on's New Zeaiands, 66-64, Sgd-j fiwea, 4Jd. to-yd. , 'Lamb Prices for Jicw Zealand now scar sons are 7ld, for best, with scoenf xtry. at about 7d.; Australians: I'lkj be-st rewais aj 5 .tor grades 28'«2; fair u-56, Sid.: inferior, Sad.; South American, 25>36, &xd.; iiM-j. S MA-. ■ . „ , J Beef,--No change of uotc. New Zcalnnds iii too short supply t« be nno-tacl. Australian crop*, 4 l-).Cd-.; hinds, 4 0-16(3.; South American fortts. 4d.v hind*, 4}d. CJuifcd fores sire Mid. lower at 4d.-, hinds, 4 U-IM.

• MEd'Ali MABKETS. By Telegrsnh-Press" A«»nnl«H:Wn—Cor7rieht ■(Iter.. March 5. 11.35 n.itt.) London, Meruit 4. Coupcr. JS4 .V. M. (snot!: ,£64 7.?. 6fl (thrcn laoBtlK); electiol.vl.3i'. ,€6O lf/i. 6d, Tin. il7.i 10s. (?pot); JEITi Ki. tthrw laou'cbs). Lead, *1D 7s. 6d,

FIJTAJSCJAD OA&WSOFR4H& London., .March 3. Yesterday's closinct cmoutio.ns were as follow: — Bank of Australasia, buyers £11?, sellers jssai. Honk of New South Wales, buyers £39, oellefs £41. Bank of Victoria, buyers &i, sellers £1 i.e«.

Union Bank of. Australia, buyers £55, sellers .£36. National Bwik of Australasia., bujotn- £5 65.. sellers £5 15s. S'stiooal BftDk oS New Zealand, buyer* £4 Sfe.i sellers £S ss, flank rf Ken' Zealand., buyers £11, ■sellers £13N. 2. Loa.nan.fi Mercantile Agency * per cent, debentures, £93. City or tielbtmiue, 4 jjcr sent, debentures, £ISO. Jtribsoiixne. Harbour Twist, -t per cent, debentures, £99. Melbourne Tramway Tryst, 45 pet cent, debentures, £IM, Melbourne and Meftop'ilitan Board o'f Works. 4 per cent, debentures, £95, Australian tareamilo Debenture*, £93 103. Ualpsty and Oo„ 4 per cent deftcnlurcs,

Dalge.tv o;id Go.'s shares, buyers £6 Sj, 611-. ooUcrs £6 12e. 6d. JTelbsurtw Gas Co.'s debentures, £99. Citr of Sydney, £98, Boldsbreugb. Mart and Co.'s depentttfes, £93 10s. Bank of Nel? 55»alafld. 1. per cent. guaranteed stock, JSICO. WEEAT. (l-!oc. Hafch &,' U,35 p.ut.) London, Jlareli 4. The wheat Market is quiet, Australians are steadily being Held. The American yfeiMo supply East of the Ruckles ia 1X5.446 bushels. jut.ii;. Lc-mlon, Harcb. 3. JlaKh-April jute is at £32 Its, SILVER. London, StoreU' J. Bat silver if* quoted last £26 U-16d, per oimos standard.