COMMERCIAL ITEMS.

Dominion, Volume 8, Issue 2367, 25 January 1915, Page 8

COMMERCIAL ITEMS.

HUNTING FOE GOLD COIN. ..According to advices from Amsterdam, gold coin la being literally hunted down in Germany for exchange against paper at the Imperial Bank in Berlin. The authorities_ aro publishing emphatic warnings against dealers in gold coin, foreigners ■ being searched to 6ee if they possess any, and, if eo, the; are: compelled to change it into- paper. The population, too, Is warned-not to sell gold trinkets to Dutch goldsmiths,-but to-keep them-in the-coun-try.- Although-the Reichsbank had accumulated ;eold : to the value of £97,434,000 as at November 23-an increase of £34,693,000 as compared with a-year earlier—the notes in circulation have expanded by £108,621,000 to £200,458,000. ■ Doposits on July 23. the last return before the war, were £47,198,000, and by September 23. had ri5en,t0'£135,449,000. Sinco' then thoy have - rapidly fallen off, and on November 23 were down to £70,790,OCO. The explanation of this movement can Hardly be that'trade in Germany is reviving, the increasing number of adults withdrawn for the fighting line, or preparation therefor, cannot help but bo reflected in productive industry. Tho scarcity of notes does not account for the contraction in deposits, as the circulation is only £20.303,000 lower that it was at tho highest point touched so that the inference is that the German people are hoarding on a great scale, for fear: of a Russian invasion. A, similar tendency was noticeablo during the Balkan wars, and it seems probable that I history ia repeating itself in this rcspcct.

SHORTAGE OP TANNING MATERIALS. Taniiers and consequently manufacturers of boots and all leather goodn in Great Britain,.are faced by a serious situation owing'to' the difficulties caused by tho war in obtaining tanning extracts. Last year .-the value of tanning extracts of all kinds im'ported'into the "United Kingdom reached .£922,600. Supplies from Italy have now been wholly, and from France partially, stopped owing'to.the increased demand for military purposes in those countries. Quebracho wood extract, a well-known tanning material, is arriving in fair quantities from South America, but with-the higher freight and insurance, and the increased demand, the price is bound to rise materially. Tho supply of valoniu, one of the most favour* i'e tanning materials, extracted from the acorn cups of the Turkish oak, is cut oif by the entry of Turkey into ,thc war field, and a substitute is urgently' needed. Fortunately the British colonics should bo able to fill the gap, hotli South Africa, and. in a lesser degree, the Commonwealth of Australia having for some years done a considerable export trade in wattle-bark, whilst Kast Africa is also now in a position to begin sending shipments. The value of wattle-bark for tanning lias ben sufficiently demonstrated by a series of experiments conducted at tho Imperial Institute, samples of the bails, from British

colonies and of leathers lonnod with it may bo inspected. Wattle-bark has been used, moreover, and highly appreoiatcd fop some ti'mo in Gormany. where, curiously, the bulk of tho 6iipply forwarded to Europe from the British colonies has hitterto been ultimately , Bent. As a large and constant supply is available at a price which is very cheap as compared with that of valonia (which wattle-bark should bo able to replace), it is to be hoped that wattle-bark will now be regularly U6ed by British tannere. A difficulty in tho way hitherto has been tho ctbsenco of factOTH'fl for pi;oparinEf the bark extract in . the country of origin, but this defect, is, in the case of South Africa ait all events, apparently about to bo removed. It is to be hoped that British tanning extTact makers will also give their attention to this eido of tho question. ■ WELIjINGTON WOOL SALE. " The January Wellington wool sales will bo held at tho Concert Chamber, Town Hall,, to-morrow, beginning at 9 a.m. Tho total offering will bo over 22,000 bales. Tho following is tho order of sale, together with tho quantities to be offered. , Bales. Levin and Go 5150 Murray,. Eoberts and Co ■ 4800 Abraham and Williams 2400 D&lgoty and Co 6403 W. ana G. Turnbull 44} N.Z, Loan and Meroantile Co 2565 United er.d Wairarapx Farmers 450 Total 1 1,2,219 Customs duty collected a.t the port of Wellington on Saturday amounted to £743 14s. 9d. , LONDON WOOL SALES POSTPONED. By Telegraph—Press Association—Copyright London, JanuaTy 22. The wool sales have been postponed owing to tho fog. FEOZEN MEAT. (Reo. January 24, 5.5 p.m.) ' . London, January 2J. The Incorporated Society of Meat Importers' Bmfthfield market Quotations for tho -undermentioned classes of frozen meat are based on actual sales of not less than one hundred carcas6'ea of mutton ■ or lamb, or twenty-five quarters of beef, of fair average quality. Tho quotations axe not for selected lines, but for parcels fairly representative of the bulk of tho . shipments now on the : market. Tho prices which follow are on the average a farthing per lb., more than' the values ex -'chip, this difference representing the average cost 'in expense, handling, conveyance, and selling of the meat:— - Mutton— Canterbury, medium ; 55 North' Island, best ...'. 5 7-16 Australian ewes 5 Beef 011411 • American None . offering. Australian ox fores .; 53 I Australian ex hinds .'. ;.... 6> River Tlato chilled. foTes .'. 5j River Plate chilled hinds '~ 7 BABBITS. . The market for rabbits ifl firm and values are unchanged. LONDON MARKETS. - (Bee, January 24, 5.5- p.m.) London, January 25. . . Copra.—The market is dull. .South Sea, in ba-ge,' December-January ' shipment, £24 per ton. '.N-Z. Hemp.—The market, is firm. MarchMay shipments ore quoted at £27 ss. per ton. Cotton,—May-June shipments of American middling ootbon are selling at 4.87 d. per lb. Rubber.—Hard fine Para, 2s. 6d. per lb. • plantation, 2s. 2d.; . smoked'sheets, 2e. 4d. Butter—Danish butter is quoted at 150s. to 154e. per' ewt. . Wheat, Chicago options, May, 14-5J cents to' 1+43 cents; July, 125 5-8 cents to 126 3-6 cents. SILVER. (Reo. Januaiy 24, 5.5 p.m.) ■■ London, January 25. Bar silver is quoted at 22 11-16 d. per ounce standard. WHEAT.' ~| _ London, January 23. Wheat.—The market is firm, but the demand is Blow. METAL MARKETS. London, January 23. Bar silver 1b emoted at 22 3-Bd. per ounce standard. Copper.—On the spot, £62 12s. 6d. to £62 17s. 6d. per; ton; at threo months, £62-15s. to £63;' electrolytic, £65 ss. to £65 15s. Tin—On the' spot, £159 10s.' to £160 per ton; at three months, £152 to £152 10s. Lead.—Soft foreign, £18 ss. to £18 7s. 6d. per ten, Spelter.—Ordinary brands,' £32 ss. .to £32 per ton. Pig-iron.—Middleeboro' No. i, sfs. 64. per ton.