COMMERCIAL ITEMS

Dominion, Volume 8, Issue 2468, 22 May 1915, Page 8

COMMERCIAL ITEMS

INVESTMENT SHAKES. In the investment market yesterday sales were reported of National Bank at £5 10s.; (Inion Bank at £57 55.; and South British Insurance .at £4 14s. The Quotations were as follow;— Buyers. Sellers. £ s. d. £ s. d. Canterbury Meat — ? *9 9 Gear Meat (£IJ. ............... 3 i 7 6 4 0 0 Well. Mt. Expt. (£2l2s. fid.) 2 12 6. — tJnion Steam (ord.) ......... 14 4 Kaiapoi Woollen (pref.) 3 6 0 — Tauplri Coal 0 12 6 Westport Coal ~ 113 0 N.Z. Drug 2 .« 0 . ~ , Golden Bay Cement 110 12 3 Customs duty, collected at the port of Wellington yesterday amounted to lie. Id. Xf.2.- LOAN AND MERCANTILE CO. The New Zealand Loan and Mercantile Agoncv Company, Ltd., have received cabled advice from their head office in London that the company has declared an- interim dividend at the rate of 5 per cent, ner annum for the half-year ended December 31, 1914, upon the 5 per cent, cumulative preference stock. N.Z. PAPER IHUS COMPANY. (By Telegraph—Press Association.) Dunedin, May 21. The annual meeting of the New Zealand Paper Mills, Limited, was held to-day. The chairman stated that the gross profits had increased from £37,604 in 1914 to £42,493. "In common with most manufacturers,' hu said, "we have suffered by the war in the shape of an increase in freight and in the cost of raw material such as wood pulp etc. The directors have taken steps to cope with these drawbacks, but are handicapped bv competition from Canada, and the difficulty of obtaining pulp from Scandinavia i 6 not becoming less as tho action of German submarines continues- Aoart from having to suspend operations temporarily a.t Auckland through tho difficulty referred to, the mills have been, running steadily. The various plants are in sood order, and are as far as possible being kept up to date, having regard to tho raw material available and the largo range of articles we have to produce." HIGH COMMISSIONER'S CABLED ICARKET REPOKT. Tho Department of Agriculture, In instries, and Commerco has received the following cablegram from the High Commissioner for New Zealand, dated London, Jfov 20 1915, in regard to tho closing of the colonial wool sales-.-The market, closed verv strong. French and Russian Governments arc buying fine wools, but there is little demand from Am o c ,^ ca > h ® o ™h,S anl j l i ; facturers arc busy, and the stocik w moderate. Prospects are favourable. EstlSed values :-Fine crossbrods, a" fades 17d to 19-jd.; medium crossbieds, all grades, 15Jd. to lBil.; coarse crossbreds, all crades 15d. to I7jd.; superior merino 14il. to 16d'.; medium, Hid. to lllferioi, 9d. to lid. LONDON WOOL HALES. (By Telegraph.—Press Assn.—Copyright.) London, May 20. Tlic wool soles closed strong, with tho highest prices of the Merinos and mod to medium scoured,? wore 5 pel cent, above April rates, best greasy comb ng at from par to 5 per cent, advalicc, ami average faulty sorts at pni. Cio-sbrcdn fine, were very firm at April iate». wnila medium and con rser had recovered fi om their early dcciine, and prices wore nearly equal to those of April. Good slips wero unchanged, Wasty were at from par to 5 per cent, lower, bwt. scourcdn from par to 5 per cent, higher, and faulty 5 to 75 per cent lower. Hest lambs wool was firm, with prices unchanged, and faulty merinos wore firm a.t a 7J per cent, decline. The following prices were realised for the flejeo jwrtiofl® c* naniedßogkaooitJ

(top), 23(1., average 21 gd.; Tillco.llnn, and 16d.; Martindalc, 14td. and 13Jd. Now Zealand: Christchurch, 18Jd. and 17Jd.

Messrs. Hurray, Roberts and Co., Ltd.. have thie morning; received a from their London friends, Meeers. Sandersou, Murray and Co., under date s[ay 20 as follows:—"Sales have closed with good spirit, 32,000 haled held over, including 30.CC0 which wore unobtainable. Prices aro very firm, and sales closed at the hiffhest point of the series." Messrs. Levin and 00., Limited, have tccoivcd the following cable advice from their .Loudon agents, dated May 20:—"Wool sa'cs closed 5 to 7A per cent, above opening rates for eoarsc and medium cmesbrcds. Other qualities remain unchanged." The New Zealand Loan and Mercantile Agency CompaJiy Limited, have received the following cablegram from their London house, under date May 20:—Sales have closed with an active market. As compared with March 31 merinos aro very firm, excepting faulties, which aro 10 per cent lower. Scoured and greasy erossbreds arc unchanged, but tho market is weaker for slipes. VICTORIAN PRODUCE MARKET. (By Telegraph—Press Assn.—Copyright.) Melbourne, May 21. TYhoat, imported, 7e. lid.; Victorian, nominally, 6s. lid. Hour, £17. Bran, £10 ss. Pollard, £11 ss. Oats, feeding, ss. 3d. to ss. 5d.; seeding 7s. to 7s. 6d. Maize, 53. Id. to ss. 6d. Potatoes, £5 ss. to £6. Onions, £6 to £6 ss. BANK OF ENGLAND RETURN. (By Telegraph—Press Assn.-'Copyright.) London, May 20. The Bank of England return issued for the week ended Wednesday, May 19, is as under:— Issue Department. Koto Issuo £78.859,000 Gov. debt ... i 11.015,000 Other securities 7,431,000 Gold 60,110,000 £78,859,000 £78,859,000 Banking Department. Proprietors' Gov. securi- n capital £14,553,000 tics -^1,013,000 Public de- Other sccuriposits ... 130,382,000 lies H0,531,000 Other deposits ... 91,625,000 Notes.-i 41,857,000 Best, 7-day and other bills ... 8.172.000 Coin 1,298.003 £212,732,000 £242,732,000 The leading items of the Bank of England return afford tho following comparison :— This week Last week Last year £ £ £ Bullion 60,410.000 62,389,000 34.201,000 ECFOI-vo ... 46.155,000 47.075,000 25,721,000 Note Circulation 34,002,000 35.003.000 28.676.000 Public Deposits 130.352.000 127,661.000 19.509,000 Other Deposits 91,625.000 95,615,000 39.456,000 Proportion of reserve to liabilities . 20.50 21.06 43.60 GOVERNMENT SECURITIES. The following are the latest quotations for Colonial Government securities in comparison, with those ruling-last week:— Variation . compared stock Price. with last week. £ s. d. Imperial Consols 66 8 9 Unchanged i N.5."W.1933J&n.-Jnly ?610 0 10s lower: :Si „N.5.W.1930-50Mr.-Sp 07 7 (j 2/6 lowor ■3i „N.S.\V. Early Curr 83 7 6 Unchanged 3 „N.S. W. 1925 Apl.-Oct 80 2 6 12/6 lower i „ Vic. 1920 Jan.-July 09 1 6 17/6 higher 8i „Vic. 1021-6 Jan.-July 01 10 0 5s highor 3 „ Vic. 1929-40 Jan.-July. 76 0 0 5s lowez 34 „S,A. 1916 Jan.-July 85 15 0 Unchanged 3 ~S.A. 1916 Jan.-July 70 0 0 Unchanged 4 „QTdl9ls-24Jan. -July 98 18 9 6/3 higher 35 Q'rdl92-2-J7Jan.-July 92 15 0 10s hifiher 3 „Q'i'dl92-2-47Jau.-J«ly 74 17 6 5s higher i „N.Z. 1929 May-Nov. 96 0 0 Unchanged ~N.Z. l!}12-40Jau.-July 84 7 6 Unchanged 3 „N.Z. 1920 April-Ocfc. 76 0 0 Unchanged % „W.A.1915-35May-NoT 87 10 0 Unchanged 3 1t W.A,1915-35May-Nov 62 0 0 5s lower Si „Tas. 1920 Jan.-July 85 7 6 2/6 lower 3 „Tas. 1920-40 Jan.-July 76 0 0 Unchanged MONEY MARKET. The Bank of England discount rate was on January 2, 1914, rcduced from 5 to 4i per cent., on January 22. it was reduced to 4 per cent., and on January 28 3 per cent. On July 30 the rate was raised to 4 per cent., and on January 28 3 per cent., and oil August 1 it was further advanced to 10 per cent. On August 6 the rate woe rcduced to 6 per cent., on August 7 it was further reduced to 5 per cent., at which rate it' now stands. The Bunk of Franco rate i's 5 per cent., as again6t 4 per ccnt. last year. OPEN MARKET RATES. The open market discount rate for three months' bills is 2 13-16 per cent., as compared with 23 per cent, last week, and Z 15-16 per cent, last year. Short loans are quoted at 13 per cent., a? against 2 per cent, last week, and 23 per cent, laet year. COLONIAL AND OTHER PRODUCE. \7heat.*-The market is dull, with priceß 3d. to 6d. easier. Wallawalla, February

655. 9d., March 665. Flour.—Market dull, and pri'es unchanged. Oats—Flat. Bahia. Blanca., May-June. 295. Peas.—MarkoC firm. New Zealand blue, 60=;. to 80s. Beans;— Market quite and prices unchanged. Sugar—Market steady and prices unchanged. Butter.—Market very firm. Supplies ara short Prices are unchanged. Cheese.—Market buoyant. There is little available for the public. New Zealand, 97s to 98s. Bradford Tops.—There is strong inquiry for all sorts. Sixty-fours, 33* d.; super sixtics, 33d.; common sixties, 32d.; fifty-sixes. 30} d.; fifties, 29id.; forty-sixes, 27d.; forties, Zsd. METAL MARKETS. Copper, on spot, £75 17s. 6d. to £76 2s. 6d. per ton; tlirco months, £76 17s. fid. to £77 2s. 6d. Pig-iron, Middiesboro' No. 2, 655. per ton. Lead, soft foreign, £19 17s. 6d. to £20 ss. per ton. Shelter, spot, £72, future delivery, £68. Silver.—Bar silver is quoted at 23 9-16 d. pet- ounce standard. AUSTRALIAN APPLES. The Australian apples by the Bteamor Oretes are in good strong demand. Tasmania™ brought 10s. 6d. to 145.; West Australians, lis. to 16b. The pears were in variable condition. Some Vicara brought 14s. to 15s. Some of the fruit was rotten and was condemned. A few West Australian Winter Nelis brought 345.