COMMERCIAL ITEMS

Dominion, Volume 7, Issue 2175, 13 June 1914, Page 8

COMMERCIAL ITEMS

INVESTMENT SHARES. The sales of investment attires recorded yesterday were Bank of Nciv Zealand (661. Ud.) at £11 4a.; CJnion Bank, at £62; Wellington Gas <vt £16 7s. 6(1., and Wilrm's Portland Ocmcnt at 28s. The quotations were as follow:— v Buyers. Sellers. £ s. d. £ s. i: Bank N.Z: (£6l3s. 4d.) ... - 17 5 0 National Bank 5 15 6 — Union Bank — 62 5 0 Wellington Deposit 0 6 6 0 7 6 Christchurcli Gas 7 6 6 — • Wellington Gas (£10) 16 7 6 — Wellington Gas (pref.) ... 1 0 0 — N.Z. Insurance '6 8 0 6 9 6 •Union Steam (prcf.) 10 5 10 9 Moegiel Woollen 310 6 Wellington Woollen (ord.) — 411 0 Well. Woollen (pref.) ... 3 2 6 — Hikuraugi Coal 0 7 6 — Taupi-ri Coal — 12 0 Westport Coal 1 10 0 — Leyland O'Brien 13 3 — Taringainutu Totara ... — 27 6 C. M. Banks, Ltd 12 9 13 6 ■ Manning and Co — 4 0 0 N.Z. Drug ; 2 6 0 — Ward and Co 5 0 0 — THE CANADIAN LOAN. Tlie Canadian loan for £S,GM,CCO at 4 per cent., which was placcd on the London market during the week, and the second loan .since the beginning of the ve-ar, has, though offered at 1 r-ir cent, below the price of the.previous loan, proved a worse failure, as the underwriters hare to provide 88 per cent, of the issue, while, of the earlier issue, 78 per cent., was taken by underwriters. Canadian stocks are not in favour with the British investor, it being apparently considered that Canada has been over-borrowing.' Further, the economic conditions in Canada arc anything out satisfactory at present. , duty collected nt the port of Wellington yesterday amounted to £3015 <te. lid. LONDON MARKETS. Messrs. Dalgety and Company, Limited, have received cabled information from their London office as under:—Frozen Mea,t—Market unchanged. Tallow—Good descriptions 3d. cwt-. lower; low and inferior descriptions, 3d. to 6d. cwt. lower; medium mixed a shade firmer. CANADIAN LOAN. By Telegraph—Prces Association—Copyright « , ■ . London, June 11. The underwriters -receive 88 per cent, of the Canadian £5.CC0.000 4 per cent. loan. HAND MINES, LTD. _ _ London, June 11. The Rand Mines, Ltd.. in 1913, made a profit of £1,239,000, and t.he profit of allied mines was £4,900,000, showing an increase despite the late Labour disturbances. . VICTORIAN PRODUCE MARKETS.' " ' MELBOURNE, .Tunc 12. Wheat, 3s. lid.; flour, £9; oats, Is. lid. to 2s. Ud.; barley, English malting 3s. t-o 3s. 3d., Cape 2s. 2(1.; maize, 3s. 6d.; bran, £5 10s.;-pollard,. £5 155.; potatoos, £3 to £4 155.; onions. £6 10s. BANK OF ENGLAND RETURN. By 'IWegrapli—Press Association—Copyrigl t i (Rec. Juno 12, 9.45 p.m.) London, June 12. Tho Bank of England return issued for the week ended Wednesday, June 10, is as under: — ( Issse Depap.tsikmt JJ»l» Imu« £53,740,000 Gov.flebt •••£11,015,000 I Other Eocuritlo3 7,434.000 Colli 35.291.000 ' £53.740,000 £53,740,000 B4NKINU Dkpahtjient. Fropvitlets' ■ Govt, securicapital £14,553,000 -ties £11047,000 Public d«- ■ ether securiposlts 16.0T.000 ties 38,656,000 Other at])Oßitß ... 41.078.C00 K.lss ... -25,045,003 Best, 7-day and othor bills... ... 3.063.000 Coin 1,515,000

. i7n.203.000 m,293,000 The leading Itcmß of the Bank of England return afford tho following; comp&riion:— Thlswetk I/asfcwaak Lasfcj'aar S "• £ £ Bullion 35.201.000 34,319.000 36.277,000 Rasarva 26.600X00 27,910.000 Note circulation 58,655,000 25.001.000 -28.369.000 Public Deposits 1(i.C9D,000 17.547.00! 13,816,000 Other Daposita ■ 11,678.000 42.366,00U 10,111,000. Proportion of ' > reservs , t« » • I'&bilitieii 45.50 12.16 51.73 GOVERNMENT SECURITIES. Tho following are tho latest quotations for Government securities with a. comparison of those ruling last week:— Variation — compaiad Met. with last weak. £ t. d. 24% Imperial Coneals 73 17 6 Unchanged 4 101 0 0 Unchanged JJ „N.5.W.1030-50J1r.-Sp HI 10 0 Unchanged ■34 „N.S>W.-1930-5U ft! 0 i] Unchanged 3 t .N.B.AV. 1025 Apl.-Oct WOO '20s lower 4 „ Vic. 192U Jau.-July 100 0 0 Unchanged 35 „Vie. 1921-6 Jan,-July 01 0 0 Unchanged 34 (.Yic.-IySO-lO £0 0 0 Unchanged 3 „\ic. I'AO-WJan.-July to 0 0 Unchanged 34 ~S,A. 1816 Jan.-July 01 0 0 Unchanged 3 ~ 9.A. 1916 Jan.-July 74 0 U Unchanged 4 „QYdloly-21 Jau.-July i(!o 0 0 Unchanged 3i ~yl'd 1922*47Jun,-July 95 0 0 Unchanged 3 p.CJ'l'd l<l2-'-J7Jan,-.luly to 0 0 Unchanged 4 „M.Z. I!HOMay-Nov. 90 -2 6 87,6 lower ,3j „N.Z. ]!)12-40JaD...Tilly 8!) 0 0 Unchanged 3 „N.Z. iy-20 April-Ocfc. Ml 0 U 20s lower .34 ~W.A. 1015-35May-Noy 92 0 0 Onchangcd 3 .A,1915-35ilaj"-NoT 87 0 0 Unchanged 34 „T»s. WiOJan.-July 10 uo' Unchanged 3 „Taj.lttt(Mo Jau.-July to II II Unchanged LUEOPEAN HONEY MAEKET. The Bank of England rate was, on February 8, 1912, reduced from 4 to 3J per cent., and on May 9 it woe further reduced to 3 per cent-. On August 29 it was raised to 4 per.cent., and on October 17 to 5 per cent. It was reduced to 41 per cent, on . April 17, -1915. On October 2, 1913, it was raised to 5 per cent., on January 2, 1914, it woe reduced to 44 per cent., on January 2 2to 4 per cent., and on January 29 to J per cent. The Bank of France rate was reduced ,from 34 to 3 per cent, on February 23,-1908, :and,.continued •at tile latter ficurc until September 12, 1911, when it was raised to 3! per cent. On May 17. 1912, it was reduced to 3 per cent-., on October 17 it was raised to 3 Aper cent., and on Octobcr 30 to 4 per cent. On January 29. 1914. tho rate was reduced to 34 per cent. The Imperial Uauk of Germany on October 24, 1912, advanced itn rate of discount to 5 per cent., and to 6 per cent/, on. Novomber 14. On October 27, 1913, tho rata was reduced to 3.', per cent., on January 22, 1914, it was rcduced to 4* per cent., and on February 5 to 4 per cent. MARKET RATES OR DISCOUNT. The following are the market rates for beet three months' bills:— London Paris Berlin rate. rate. rate, per per per cent. cent. cent. This week 2 9-16 21 2J Last week 2J 24 3 Last year 4 7-16 33 6j Short loans are quoted at 2 per cent., as against 23 per cent, last week, and 34 per cent last year. COLONIAL AND OTHER PRODCCK. Wheat-.—The market is dull. Australian, on spot, is quoted at 385. Gd. Flour is quiet. Australian, on spot, ?&>. ■ Oats arc steady. Lit Plata, June-July shipment, 16s. 2d. . l'eas and bean* are quiet and unchanged. Butter is dull and nominally unchanged. Danish and Dutch imports are very large. Cheese.—Tile market is very linn. New Zealand white, 645. to 645. 6d.; coloured, 655. to C 65. . Sugar.—German beet, 88 per cent., not litre 13d. lower, at 9s. 6d. per 0.w1,; first marks granulated, f.o.b. Hamburg, id. higher, at lis. 9Jd. i Bradford Tops.—The market is unchanged, but there is slightly more inquiry. Sixty-fours, 3t4d.; super sixties, 30d.; common sixties. 2Pd.; fifty-sixes, 2-Id. j fifties, 21d.; forty-sixes, 17d.; forties, 16d.

THE JIEfAI, SUHKETS. Copper, on spot, 15s. tower, (it. ,sc6t S>. 6il. per ton; three Mortise', umJiob-soi], hi £62 lte. Tin, on spot, 2Cs, iawer, at £141 ss. vet ton: throe months'. 20s. lower, nt £:i4J. I'iß-iron.—Jliddketeoush No. 3, 2d. lawc-r, nl. 5I«. 3d. per tan Lend.—Soft foreign, unchanged, at, £19 ss. per ton.