COMMERCIAL ITEMS

Dominion, Volume 8, Issue 2381, 10 February 1915, Page 8

COMMERCIAL ITEMS

INVESTMENT. SHAEEB. / There were no transactions in investniLnt eliares yesterday. The quotations wer« as follow:—• ■ ■ Buyers. Sellers. X 6. d. £ s. d. National Bonk - 5 7 6, — Bank N.Z.' (old) 10 4 0 10 10 0 Well. Trust, Loan, I/td. 0 11 0 011 3 each. Gas (£5) :..U 7 7 0 — Palmeraton North Ga«... 12 0 0. JTeat Ex. (£2 12s 6d.) 215 0 — Union Steam (ord.) 13 3 — , Union' Steam (pTef.) ...... 10 9 — WelL .Woollen (ord.i ..... .4 8 0 — Well. Woollen (pref.) ... 3 2:6 — Taupiri "Coal : 0 15 6 — Westport 111 0 . ,112 0: "Wcstporb-Stockton — 0 4. 9 Tariugainutu — : 2 4 0 llaaniE and Co. ......... 418 6 5 0 0 Ward and Co. 615 0 — W.F.C.A. (£5) 6 0 A 6 5 0 ECOKOJtIC CONDITION OP CANADA. An excellent idea, of the economic; post tfon in Canada at the present time can be gathered from a perusal of the speech made hy the president of the Bank of i Montreal at the annual meeting of'share-' [ holders held last, month. . Discqssing the effect of the ; war' on Cansufo, the speaker pointad out that -the outstanding result was 1 the instantaneous - stoppage of 'tho supply, of British capital, to which the Dominion had become, so accustomed that eight was too frequently lost of Its . importance as a factor in the development of the' country. Money from Great BritaJn floTrel-to- Oanoda in einch volume that daring ■a - considerable antebellum period : It amounted-to at leaet £5,000,000 per month. Canadian public borrowings from the London, money, market for the. seven months'■ 'ended' July '31 1 were £35,600,000, while since the outbreak of war the inflow 1 of BUch'-'eapital had ceased. : .This' cessar tion/ coupled.,with the. necessity, of using their '.own r earnings and income for the purpose of. paying interest on Canadian indebtedness-'to Great ,Britain; amounting approximately to £560,000,000 ha 4 brought home to. the oommunity tho extent to which the British Investor had befriended the Dominion. Dealing with'the way in which ' Canada was standing the strain, the president' stated that the. country was adjusting 1 itself to . the dnerons position ■suddenly crcated. He believed, that; although, 'here'. and there weak spots would develop, as the aftermath of the inflation due'to the ease' with which loans had been obtained, the Dominion would support the 'burden. 1 ' It was obvious that the country was on trio! 1 and that Its future development would depend greatly upon the condition in which it emerged from this trying ordeal of being cast upon its own resources. The longer the duration of the war, the moro the props of the Empire, such as Canada, would suffer. A general suspension* of new undertakings was neccfisary, as the capital could not be obtained for such purposes. The financial fallacy of issuing redundant notes' for public works—abundantly proved by th® experience-' of - other countries—is well known, and Canada is-to be congratulated on having avoided the miseries of a depreciating paper, currency.' - WAE AND DIET. Ono effect of tho war'upon the dietary i predilections of the people in parts of the United Kingdom, which should prive advantageous ifor New: Zealand, has boen an increase in'the popularity of the rabbit «s an article of food: Commenting on this change, "Ice and Cold Storage -remarks that in the, past "the . specialty selected; , inspected, - aiid branded rabbits which have come from the Antipodes have, in the main, been sound and sweet when placed in retailers' hands in England for sale to the public, yet' somehow there has been a shrinking from the food. The war'has done much to put a.n end to this, old indifference'to .'the colonial rabbits. With so many- breadwinners gone into military service, 1 and. so many . wives, m'cthere, and ; sisters with . very little money to keep' hou6e lipon, tho=o who are left have been led to try the rahbits from Australia or New.- Zealand, which have been displayed so temptingly by poulterers : and fishmongers: The .trial has been satis- ' factory. ' The food has proved as_ good as it has Doubt and dislike of the rabbits have given place to a real appreciation of them. It has been a revelation that .they oould cook so well, and prove so tasty, and there have been reproaches by some .that they did not tako to them earlier. With the rabbits obtainable at 9d. and 10d., as against Is. ■ 'or Is.-Id.: for; English, there was money to be saved. There will consequently bo many ..'more users of . Australian and Jfow Zealand- rabbits now.' that' the indifference to them has, been overcome. In this the war,- will have'helped-trade.". ,

Customs., duty collected ,at the port of Wellington yesterday amounted to £1916 te. sd;. V ;■ '■ , • ■ - -. -STANDARD DJSDEANOB 00.' .. (By Telegraph.—Press Association.) Dunedin. Fobruary 5. ■The annual report, of :the Standard Insurance Company states that the inoome for the year, including .balance brought •forward .from last year, amounts ' to £150,312' Mij., and expenditure to £102,211 12s. :9d., leaving a, balance of £28,101 Is. 3d. An interim dividend, absorbing £3750, wae paid ■ in. June, and the directors have dealt with the balance as follows:—To reserve fund, £2500; to reinsurance reserve fund, £6000; to guarantee and provident fund, £5000; to Patriotic Fund, £500; writ-ten-off office furniture and stationery, £500; dividend for the half-year of 8 per cont. making 13 per cent, for the year, £6000; to. carry forward, £8351 Is. 3d. BRITIBH PRODUCE MARKETS. Chrlstchuroh) February 9. Mr. H. G. Hill, general manager in New Zealand of the Bristol and Dominion Prodiicars' Association, has received the following cablegram from Bristol :-r"Lamb, beef, mutton, Belts, and wool firm, sheepskins and tallow advancing, hides good demand." .. SOUTHERN MARKETS. : V Chrlstchuroh, February 9. A fairly large quantity of wheat is now offering, and buyers ore securing all the lines they can obtain at their price. There are reports that wheat, has been sold for 7s. per bushel, but inquiries show that thcro is no truth in them. With the cicoption of ft small lino for which 6e. 7d. has been paid, the top price is 6b. 6d. at conntry stations, for long railage loss than this amount is offered. Most of the buying is being done in the country, comparatively : few samples being brought into town for sale., , ' • ■ ' For oats.there is keen demand. and for "A" Graded. 3d. to 3s. 5Jd. is being civen at country;'stations. ■ • ' No business of any-, extent has yet. been done in odtshoaf chaff, and few farmers are rc/Lciy-,,t0 sell at £4 15s. at country stations. •-•> ••'* Barley is'iftot selling freely as and oa,t6, and -.'only for very prime, samples can 'ss. &d. be obtained. Ryegrass. ;: is selling' at. all prl«s from 3s. 6d. to 4 s., and any good'lines which jat ficiase, .yrjii brtns & Utile jßore

The high prioes naked for white closer seed has prevented business from being done, as when this seed reaches a oortain value there is a restricted demand for it for sowing down. SOUTHERN WHEAT MARKET. Chrlstchuroh, February J. The wltoal market continues to have a strong upward tendency. Merchants ai» keen - buyers, whilo growers, knowing the strength of the position, are indifferent about sefltng. Yesterday mlcb were mado on a basis- of seven shillings on trucks, sacks crtra. ■ GABLED MARKET REPORT I*ROM HIGH COMMISSION GB. The Department of Agriculture, Indiratrios, and Commerce has rcocivod the following cablegram from the High Commissioner for New Zealand, . dated • London-, February.!, 1915. , (Note-Quotations, unloss otherwise specified, aro average market prices on spot):— Bacon.—Tho nyirket was firm, • together with a good demand for all. descriptions, and price advancing,'until the middle of January, when the official quotations were:—lrish'; per.c>vt., 86s. to tit.; Danish, 655. to 88s.; Canadian,, 745. to 785.; and Swedish; 84s. to 855.. Since then trado has fallen off -very muoh ; on account of high prices, with the result ' that . the market ia dull and unsettled. Prices havo declined, and present 'quotations are:— Irish, 81s. to 855.; Danish. 7£s. to EOa.; Canadian; - 70s. to 785.; - Swedish, 765. to 77a. The downward movement is-not likely to last; a decrease in production in Denmark ia anticipated on account of the high prices of pig-feed. Hemp.—The market does hot show voir much fluctuation. Present quotations are: English, 100s. to 1165.; Irish, 925. to 1125'.; Canadian, 725. to 765.; and American, 675. to 70s. LONDON WOOL SALES. By Telegraph—Press Association—Copyright London, February 8, At the wool sales 123,000 bales were, sold to Home buyers and 3000 for tho Continent; held for. next sale, 16,800 bales. Arrivals for next series total 277,000 bales, brought fcrward 139, availablo 155. Messrs. Dalgety and Company, Limited, have' received the following cablegram from their London office, under date February 6:— ". "The wool sales closed to-day, very animated. Compared with closing rata.! of the December series,'good greasy combing 10 per cent, to 121 per cent.' higher; medium,'ls per oent.; inferior, 20 per cent.; scoured comhing, 71 per cent.; short faulty, 6 per. cent. . Greasy fine crossbreds were from. ,par to 5 per cent, higher; medium and coarse, 10 per cent, to 15 per cent, for fine scoured and slipes. there was'no change; medium and coetrse slipeg were 6. per. cent, higher. Wo quote 64' a tops, ousting 26Jd„ 27d." The Bank of New' Zealand has received the following telegram, dated February 8. from its London office:— 1 "Wool sales closed very firm. Prospects far orosebrede appear favourable." METAL MARKETS. By Telegraph—Frees Association—Oroyricht London, February 8. Silver.—Bar silver is quoted at 22 9-16 d. per ounce standard. ■ Oopper.—On the spot, £62 15s. to £63; three months. : .£63 -ss. to £63 10s.; electrolytic, 10s. to £68. ' Tin.—For forward delivery £155 to £155 10c.' ' - •' ' WHEAT. The wheat market is dull, occasionally threepence easier. ;