COMMERCIAL ITEMS

Dominion, Volume 8, Issue 2408, 13 March 1915, Page 10

COMMERCIAL ITEMS

" . INVESTMENT .SHAREB. In the investment share market a. Bale of Auckland Trams (ordinal?) at 21s. 9d. was recorded. Tho quotations "were as follow:—. . „- ' Buyers. Sellers. £ a, d.. £ E. d. National Bank 5 9 6 — Bk. N.Z. (£3 6s. Bd. pd.)... 10 15 0 - Bk. N.Z. (£6 13s. 4d. pd.) - 17 5 N.Z. and River Plate 2 0 0 — Christehurch Gas (£5) ... 7 10 0 — WelL Gas (£10) 16 2 6 - . National Insurance — ; 2 N.Z. Insurance 6 0 0.6 3 Gear (£4) • 14 5 0 - N.Z. Shipping (pref.) ...... 10 10 0 — Union Steam (ord.) 13 9 14 3 Union Steam (pref.) 1 0 B 1 .1 0 TVestport 1 11 9 — Mosgiel Woollen 315 0 — Well. Woollen (pref.) 3 3 0 — Westport-Stockton 0 5 2 Golden Bay Cement 0 19 9 10 6 Manning and Co — 5 0 0 W.F.C.A. (£5) - 6 5 .1 TTard . and Co. 5 12 6 6 0 0 Auckland Tram (ord.) ... — 1. 2 0 Colonial Sugar 49 10. 0 , —

GOVERNMENT MONOPOLY OF SUGAR. At the beginning of the war the British Government Tushed into the sugar market

and bought enormous quantities at very high prices in order to save the situation. The result, according "to tho /'Liverpool Post" of January 19. is that Government sugar, which is the only > sugar obtainable in the United Kingdom, is now costing £7 a ton more than tho eame article -can be bought at in the neutral markets .of the world. This sugar monopoly is a piece of practical bureaucratic Socialism,;and it. is inflicting a weekly tax unon. the budgets of the working classes. In. order to conceal the huge blunder .they mode, - tho Government has actually . prohibited, the free importation of sugar—a move which is comically represented by the Beyal Commission on Sugar-as "the' striking of a blow at the trade of our enemies." According to the "Liverpool Post.", the British Government is now actually importins sugar from Holland, 'which alraostcertainly means that either directly- or indirectly it is itself buying sugar from Germany. It is-further stated that the method of shipping the Government/sugar has been partly responsible for the congestion at the Liverpool and London, docks.

BUSINESS PEOSPECTS. In the 1915 edition of the "Business Prospecte Year Book," the editors point out that, in 6pite of the war and its effects on industry, in spite of the priEantio share the British Empire is taking in the struggle, the country still carries on business, still goes on importing food and raw materials, exporting coal and manufactures, aud supplying from land and mines And works the needs of the Homo population. To maintain and increase this position is a necessary and patriotic dutv, and evory men who can add to the wealth of the country will be doing some share in . forging the "silver bullets." If business is being carried on linder any conditidnn it is necessary for business men to examine and study all the facts available bearing on production, transport, and markets, and the necessity is more apparent in a" period so abnormal as the present, when tho factors affecting supply and demand are eo unique in character and so likely to bring about great and rapid variations in price movements.

HIDE AND SKIN SALE. Messrs. Dalgety and Co., Ltd., report, At our usual monthly sale on Thursday wo offered a. fair catalogue of all classes which met with good competition from a full attendance of buyers. Prices for wool showed a, considerable advance on last sale's rates, more especially in clean fleece and lambß* wool, many lots making .from Is. to Is. Zd. Full-wool sheepskins and lambs sold at an advance, while pelts and short wool skins were about oil a par with last sale's rates. Hides and calfskins also sold at about equal to previous saie'e rates. Wool: Clean, bright crossbred, t2id. to 133 d;; ditto, lambs, 13d. to I'M.; medium, J2d. to lZid.i seedy and inferior, 6id. to 9sd.; dead wool, 9d. to 10d.; black, 10(1.; inferior crutchLngß, to Bd.; locks and pieces, 6Jd. to 7d.; locks, inferior, to Sid. ■ Sheepskins: Full-wool, 10d. to 10£ d.; ditto, damaged and broken, Bd. to Bi(i.; quarter land half-wool, 71d. to 85d.; pelts andshorte. 6d. to 63d.-. inferior pelts. 2.', d. to 4d.; lamb aktns, extra good. ICJd.: medium to inferior. 9d.: dead ekins. 6Jd. to BJd.: hoggets, 7d. to 93d.; butchers' part dry and slippy polts to half-wool, at. each, halfwools, beEt lilies, 6a. to fia. 2d.} qtifi-Tter* [ gpoie. 104, to Jjarg affL in*

ferior, Is. to Is. 4d.; lamb ekine, 3e. to Hidcß; Heavy ox, 9 J-Bd. to 9?d.; medium and light, 9id. to 93d.; rough and inferior, BJd. to 9d.; ditto, cut and damaged, 6id, to Bid.; yearlings, BJd. to 9|d.; ditto, inferior and damaged, sd. to BJd.j calfskins, 10d.; cut, Bd.; slippy, sd. Tallow, in tins, 225. 3d.; rough fat, 125.; oosk6, 245. 6tL to 256. 3d.

Customs duty oolleoted at the port of Wellington yesterday amounted to £3723 Us. Id. . SOUTHERN MARKET. (By TeJegraph.—Press Association.! Chrlstchurchi March 12. There is apparently a. lull in buying operations in the local wheat market, and prices are now about 2d. per bushel less than they "were at the beginning of the week. On Wednesday sales could, be effected at 6s. 10d., and since then it has been difficult to get more than. cs. 9d. Buyers appear to be _ indifferent about making purchases, and in some cases only 6s. Bd. has been the best offer. A report was current on Thursday that the wheat mark of, had advanced,_ and that 7s. 2d. on trucks had been paid. Only one sale at this figure is to have taken place, and this was a special lino of pearl, which' was bought last week at a country station for seed purposes. • A San Francisco advice states that 8250 bushels of barley and 16,183 barrels of flour were exported to New Zealand in January, the price of the barley wae set down at 4e. 4d. per bushel, and flour to £11. ss. per ton. Oats.—The market keeps very arm, vtainly through operations of buyers to cover their Australian contracts. A grade Gartons are now np to 4s. 2d. at country stations. Duns are selling almost equally as well,' and Algerians are reported to hare been sold as high as 6s. and 6s. 6d. at country 6tatione. Ontsheaf ,chaff is very firm, bnt with little offering. ... ■ „ • , , Potatoes are a little firmer, though few orders are-as yet coming in._ Far immediate delivery £4 to £4 ss. is offered. . TALLOW. ' The. New Zealand Loan and Mercantile Agency Company, Ltd., has received the following cablegram from its London hou6e. under date March 10:—"Tallow; We quote present spot values for the following descriptions Fine muiton, 425. per cwt.; good beef, 406. 9d.; mixed, 38s. The market is- dull, with downward tendency." VICTORIAN PRODUCE MARKET. By Telegraph—Frees Association—Copyright Melbourne, March 12. Wheat, Bs. Flour, £18 15s.' Bran, £9. Pollard, £11 ss. Barley, English, ss. lOd. to 6s. 2d.; Cape, ss. Oats, Algerians. 55.; whites, 4s. 10a." Maize, se. 4d._ to Se. Bd. Potatoes, £4 15s. to £5 ss. Onions, £5 le. to £6. FROZEN MEAT. '

Messrs. Gilbert Anderson and Co. (Messrs. Mellsop, Eliott, and Co., local agents), writing oil the frozen meet trade under date February 2, report as follows:—Owing to the slow discharge of the steamers in dock through shortage of labour, goods have not been allowed to accumulate, in store and the demand has been overtaking the supplies actually available. There is at present a good demand and prices are steadr. Home-grown and Continental.—Homegrown supplies shortening, and' Dutch mutton has practically ceased. Beof: Scotch, 73d. to Sd.; English, 7 3-Bd. to 72d.; Irish, 7 J-ad.' to 75d. Mutton: Scotch, 7Jd. to BJd.; English, 71d. to 73d.; ewes, 53d. to 6d.; Dutch, 6sd. to 7d. Tegs: Scotch, 83d to 9d.; English, 7Jd. to Bd.; Dutch, 7d. to 73d. Lambs: English new season's, 10a. to Hid.; pork, 7d. to Bd.; veal, best 81d. to 9d,,. inferior 6d. to Bid. : Frozen mutton: The diminished supplies of beef for domestic use have turned the demand on to mutton. New Zealand sheep of medium weights are selling well. Canterburys. 6}d. all round; selected North Islands, 56-64, 5 7-16 d.: ordinary. I> 3-Bfl.; ewes, 521b., 6 3-16 d.; Australian wethers, 4060, 5 l-16d.; 35-55, 5 l-16d.; owes, 36-50, 415-16 d,; South American wethers, 56-72,' 5Jd.

Frozen lamhs: Old season's Canterbnrys are difficult to purchase at. 6Jd. Good Australians are firm, and few available: 6econardy New Zealands consequently improving., Australian be6t,'6ld.; fair; 6Jd.; inferior, 51d.; South American, 28-36, 61d.; 36-42, 6Jd.

Beef: Chilled short, hinds 71d„ foros 5Jd.; New Zealand hind 6 6 5-16 d., fores 5Jd.; Australian hinds, 6 3-16 d.; crops, 53d.

BANK OF ENGLAND RETTTON. By Telegraph—Press Association-Cpryrieht London, March 11. ■ The Bank of England Teturn issued for the 'week ended Wednesday, March 10, is as under:—' ; ISBUE Department. Note Issue £76,633,000 Gov. debt ... £11,015,000 . Other socuii- • ties 7,434,000 • ■'~ Gold 58,384,000 £76,833,000 £76,833,000 ~ Banking Department. Proprietors' Gov. securi-' : capital £14,553,000 tics £27,130,000 Public de- Other 6ecurM posits ... 50,126,000 tics 127.010,000 Other deposits ... 120,764,000 Notes 42,537,000 Roßt, 7-day . and other bills ... 3.728.000 Coin 1,494.000 £193,171,000 ' £108,171,000 The leading items of the Bank of England- return afford the following comparison:— This week Last week Laßt year Bullion - ... 58,384.000 58.516,000 40,171,000 Reserve ...' 44.031,000 43.909.000 31,855,000 Note Issue. ... 34.296,000 34.533,000 38,238.000 Publio Deposits 60.126.000 61.572.0C0 24,943.000 Other Deposits 129.764,000 118,842.000 39,922,000 Proportion of reserve to liabilities 24.47 25.71 49.09 GOVERNMENT SECURITIES. The following are the latest quotations for Consols and Colonial Government Securities with a comparison of those ruling last week:—

Variation — compared , Price. with • lasfe week. £ s. d. Imperial C#ne»!s 68 10.0 1/3 lower i „N.5."W.1933 Jan.-July 99 0 0 2/6 lower ; 3J „N.S. W.1930-50Mr.-Sp 07 5 0 Ss lower 5 *11.8. W. 1925 Apl.'Oct SO 15 0 2/6 higher i „Vic. 1920 Jan.-July G9 5 0 5s higher 8i „Vic. 1921-6 Jan.-July 04 5 0 Unchanged 3 „ Vic. 1929-49 Jan.-July 79 0. 0 Unchanged 9& „S,A, 1916 Jan.-July 69 2 6 Unchanged 6 „S.A. 1916 Jan.-July .73 0 0 Unchanged 4 „QTdlflls-24 Jan.-July 09 0 0 Unchanged 3i ti Q'l , dl9"2'w47Jan.-July 9410 0 Unchanged 3 ..QTdIDSa-jTJ&n.-July 78 0 0 Unchangod i „N.Z. 1929 May-Nov. 98 0 0 10s lower 8£ ~N.Z. 10$-4OJan.-J«ly 87 9. 6 Unchanged 8 „N.Z. 1920 April-Oct 77 10 0 Unchanged 3J M W.A.1915-35May-Net 69 7 6 Unchanged 3 .."W,A,1015-35May-Nov 83 10 0 Unchanged 8i »,Tas. 89 5 0 Unchanged B „Tai. 1920-40 Jan.-July. 79 15 8 Unchanged MONEY MARKET. The. Bank o!-England discount rate was on January 2, 1914, reduced from 5 to per cent;, on January 22 it was reduced to 4 per cent.,- and on January 28 to 3 per cent. On July 30 the rate was raised to 4 1 pep cent., on July 31-it was Tai6ed to 8 per cent.,'end on August 1 it was further adyanced to 10 .per cent. On August 6 the rate was reduced to 6 per cent., on August 7 it was.further reduced to 5 per cent., at which rate it now elands. The Bank of France rate is 7 per cent., as against 4 per confc. last year. , OPEN MARKET BATES. The open market discount rate for three months' bills % 1£ per cent., n« compared with 1 3-8 per cent. Ift6t week, and 3 15-16 per cent, last year. • Short loans are quoted at three-quarters of one per cent., as against 1 per cent, last week, and 2& per cent, last year. • COLONIAL AND OTHER PRODUCE. Wheat.—Quiet and unchanged.' La Plata iB rather easier. Walla, December, 655. 6d. Barley.—Australian OheTalier, 355. 6d. to 1 41b. 6d.; brewing, 40s. P«te and Beans.—Market quiet, and prices unchanged. The Bradford market is rery firm. Users are holding off awaiting the London ealea. Sugar.—Prices unchanged. Butter.—The market is very firm. It Fs believrd Germany and Anstria ore buying Danish largely. Choicest Australian is at 1365. to 138s. per cwt., and in exceptional eases 1405.; New Zealand, 1386. and 1405., and in exceptional cases The clicese market is firm. New Zealand. 925. to 945. Australian has "been cleared. Bacon.—Market steady. Australian 623. to 635. METAL MARKETS. Silver.—Bar silver is quoted at 25 5-16 d. per ounce standard. Copper.—On the ©pot, £64 15s. to £65; three months, £65 2s. 6tl. to, £65 7s. fid.' electrolytic. £69 15s. to £70 2s. ffd. Tin.—On the spot. £189 to £189 10s.: three months, £166 to £166 10s. "Pig-fron, 58s. 2d. per ton. Lead.-Soft foreign, £20 12s, 6d. to £21 10s. per ton.