COMMERCIAL ITEMS

Dominion, Volume 8, Issue 2474, 29 May 1915, Page 8

COMMERCIAL ITEMS

INVESTMENT SHAKES. In the investment market yesterday 6ales were reported of Meat. Export (535. 6d.) at mv'' Union Steam, preference, at 21e. The quotations wre as follow:— Buyers. Sellers. _ • £s. d. £6. d. Bank N.Z. (£3 6s. Bd.) .... 11 7 0 - Union Bank 5V 0 0 — Equitable Huiiding 9 12 6 — . N.Z and Biver Plate 2 0 0 - Well Trust, Loan, Ltd, ... 7 9 0 7 12 6 Gisbornc Gas 115 0 — Well. Gas (pref) 10 0 — National Insurance — 2 9 0 South British Insurance 413 0 — I Gear Meat (£1) 4 0 0 — Well Meat Export (£5) ... - 55 0 Well. Moat Export (£4) ... — 44 0 Kaiapoi Woollen (ord.) .. 5 0 0 — Well. Woollen (ord.) 4 10 0 4 15 0 Well. Woollen (pref.) J 6 0 — Taupiri Coal 0 14 9 — Westport Coal j 111 6 111 9 Leyland-O'Brien 110 — Manning and Co — 415 0 N.Z. Drug — 2 7 0 N.Z. Portland Cement .... 0 7 3 ■— Customs duty collected in the port of Wellington yesterday amounted to £2718 4s. Id. N.Z. CONSOLIDATED DENTAL. The seventeenth annual general meeting of tho New Zealand Consolidated Dental Co., Ltd., ( was held last evening, when the directors' report and balance-sheet wero adopted. The chairman of directors, the Hon. J. G. W. Aitken, announced a successful year, in spite of the war. The profit and loss account' showed a balance of £3328 13s. 6d,, - which it wa6 decided to apply as followsTo payment of a dividend of 7 per cent., £2060 3s. 4d.; 2J per cent, bonus to holders of 5 or more shares at March 31, 1915, on their purchases for the year, £404 12s. lid.; reserve account (making same £6150), £500; carry forward to next year, £363 17a. 3d.; total, £3328 13s. 6d. The retiring director, Mr. Andrew Gray, was re-elected, as also were the retiring auditors for Auckland, Ohristchurch, Dunedin and Wellington. HIDE AND SKIN SALES. The .fortnightly soles of hides and skins wero held yesterday by tho various brokers. Messrs. Dalgety and Co. report that the wool offered consisted only of hags-all bale wool being held over for the special crutchings egJo on June 11—and prices, if anything, were a shade higher than those ruling at last sale. All other descriptions of produce sold at late rates, with the exception of stout ox hides, which advanced up to one penny- per lb.

Messrs.. Murray, Roberts, and Co. report offering a catalogue of 2900 skins, 650 hides and calfskins, besides oddments of tallow and bag wool, all wool in bales being held for the crutching ea-le. Skins sold on the average at prices about eoual to last eale. aides- were in good demand and somewhat recovered the drop in . priccs existing in last ealo ox hides Especially showing a decided advance in prices. Tallow, in sympathy with the reduced prices recorded trom London, .showed a decline of about Is. td. per cwt.

The Zeala-nd Loan and MeTcantilo Agency Co., Ltd., report that bidding was brisk. Sheepskins (-old well at late rates. Hides were higher for best heavy ox and cow by Id. to 3-Ed. per lb. Medium-"weights and damaged lots were in rather poor, demand. very little wool offered, and it is nearly all being lieLd for second crntching: eale in Jnne,.but the few odd lots put on the market realieed late rates. A further fall in tallow was experienced.

Messrs. W. and G. Turubull and Co., Ltd., report, that bidding wa-s keen. The firm nad a fairly large catalogue to offer, and competition for offerings' was well maintained. Prices of wool, «6 compared with last eale 6 rates, were about par, crutchings still being keenly sought after. Pelts were also on a par vrith last sale, but combing ckms ehow a elight advance.

Messrs. Levin aud Co. repoTt that wool is being held-for the crutching sale on June 31. Shepp6kins were firm and brisk at Tinchanged prices. There was good competition for nines and tho market recovered the recent drop on ordinary hides. Kips, calfskins, and yearlings showed no change, successful Gales are also reported by the Mirewpa Farmers Co-op. Association and tne.united Farmers' Co-op. Association.

Messrs., Abraham and Williams, Ltd., report having offered a good catalogue of all classes of produce. Competition was keen for everything offered. Skins were easier by a farthing per lb., coinciding with the increase of freight. Ox hides were in strong demand at an advance of a farthing to a halfpenny for 6uper lines, whilst cows were almost a farthing lower. The range of prices was as nnder:— Sheepskins.—Half bred, 9Jd. to 10Jd. ; fine crossbred, IOJd.; medium to coarse crossbred, 9id. to 10Sd.: short, to half-wools, 7Jd. to 9id.; dead and damaged crossbred, B<l. to 9Jd. ; ■ inferior and badly damaged, Sd. to 4d.; lambs, 103 d. to 103 d.; damp,'salted, and green. 3s. 6d. to 10s. 2d.; pelts, Ai. to , I}d.; lambs, salted, 3s. 9d. to 6s. 6d. , Hides.-Ox, heavy, 601b. up. 10 3-Bd. to 10id.; ox, medium, 601b. to 591b., 9d. to 10d.; ox, light, 491h .and under,, 83d. to 10d.; cow, heavy, 551b. and over, Ed. to 8»d.; cow, medium, ffilb. to 541b„ Bid. to 83dT; cow, light, under 421b., 8 l-Bd. to BJd.; cut, slippy and, inferior, sd. to 7id.; butt stag, sgd. to 6d.; yearling (161b. to 241b.), 6}d. to 7Jd. ; calf, superior (up to 161b.), 9 l-Bd. to 9jd.; calf medium to good, Bd. to 9d.; calf, damaged. 4d. to 7jd.; horse, 4s. to Bs. 6d. Tallow—ln casks, 245. to 245. 6d. In tins, 17s. 6d. to 235. 3d. Sundries—Cowtails, Is. 6d. to Is. 7d. BANK OF ENGLAND RETURN. (By Telegraph—Press Assn.—Copyright.) London, May 27. The Bank of England return issued for the week ended Wednesday, May 26, is as under:— Issuii Department. o Note Issue £78,867,000 Gov. debt ... £11,015,000 Othor securities 7,434,000 Gold 60,418,000 •£78,867,000 £78,667,000 Banking Department. Proprietors' Gov. sccuricapital £14,553,000 ties £51,043,000 Public do- Other securlposits ... 132,089,000 tics 139,200,000 Other depoßils :.. 87.742,000 Notes 45,920,000 Best, 7-dn.y and othor bills ... 3.100.000 Coin 1.321.C00 £•237,574,000 £237.574,000 The leading items of tho Bonk of England return afford the following comparison;— This week Last week Last year £ £ £ Bullion 60.416.000 60,410.000 34.051,000 Bcservo . ... 47.211,C00 45.155,000 25.464.000 Note Circulation 32.947.000 34.002.000 28,033.000 Public Dcposils 132.060.000 130.382.cc0 19.015.000 Other Deposits 87.712.000 04.625.000 41,249.000 Proportion ot rcscrvo to liabilities 21.49 20.50 42.21 GOVERNMENT SECURITIES. Tho following aro tho latest Quotations for Colonial Government securities in comparison, with those ruling Inst week:—

MONET MARKET. The Bank of England discount rate van on January 2, 1914, 'reduced from 5 to 4J rr cent., on January 22, it was reduced to per cent., and. on January 28 3 por ccnt. On July 30 the rato was raiEed to 4 per cent., and on January 28 3 per cont., end on August 1 it was further advanced to 10 per cent. On August 6 the rat® was reduced to 6 per cent., on August 7 it was further reduced to 5 per ceut., at which rate it now stands. The Bank of Prance rate is 5 per cont., us against 4 per cont. last year. OPEN MARKET HATES. The open market discount Tate for three months' bills is 2 13-16 per cent., as compared witli 2 13-16 per cent, last week, and 2 13-16 por cent, last year. Short loans are quoted at 15 per cent., as against IS per cent, last week, and 23 per ccnt. last year. COLONIAL'AND OTHER PRODUCE. Wheat—Tile market is dull and weaker. Flour.—Tlic market is inactive and unchanged,. Oats.—The market is dull. New Zealand, 365. to 365. (d. Peas and beans are dull and unchanged. Sugar.—The market i 6 steady and unchanged. Bradford Tops—There is a strong demand. Sixty-fours, 35d.; super sixties, 345 d.; common sixties, 33Jd-: fifty-sixe6. 31d.; fifties, 3Cd.; forty-sixes, 27Jd.; forties, 25Jd. METAL MARKETS. Copper.—On spot, £77 ss. to £77 10s. per ton; three months', £78 ss. to £78 10s. Tin.—On spot, £161 15s. to £162 ss. per ton; three months', £161 10s. to £162. Lead.—Soft foroign, £20 ss. to £20 12s. 6d. per ton. Spelter—On 6pot, £80; future delivery. £75. Silver.—Bar silver is quoted at 23Jd. per ounce standard. SOUTHERN MARKETS. (By Telegraph.—Press Association.) Christchurch, May 28. Tlis wheat market is much firmer on account of the demand from Otago and Southland as well as from the North Island. Southern wheat is evidently not yet in milling condition, and further supplies ore therefore required from the northern districts. Practically no grain is offering locally from growers, and it is said that very little apu«an. to be held in tile country districts. There is some business being done by merchants, and quotations of prices that' would be paid to fanners are therefore lively. Tuscan is said to be worth te. 7d„ Hunters 6s. Bd., and Pearl 6s. lOd. at country stations. Oats have made a decided advancc since figures wcro published showing that only a comparatively small quantity has been threshed. There are none offering by farmers, but the price now ruling is equal to *s at country stations. Oatshcaf chaff is very firm in sympathy with. o*its, 4 tli6 ruling prices ss. to £6 10s. at country etfltlone according to railage. Potato priccs have advanced to £4 at country stations.

VICTORIAN PRODUCE MARKET. (By Telegraph-Press Assn.-Copyright.) . m . , Melbourno, May 28. Wheat, nominal, Bs. 6d. Flour, £17 Oats, nominal, ss. 6Jd. Maize, ss. to ss! 6d. Bran, £10 ss. Pollard, £11 lEs. Potatoes, £5 to £5 10s. Onions, £6 10s. to £6 15s.

! Variation Slock „ . compared Price. -with . lust week. X ». (1. ,«Impend! Consols (50 8 1) Unchanged u ♦v'S\\^!5 33Jau -* ,Iuly ' ;G n G 2,0 higher ii .JS'.S.W.lOM-MLUr.-Sp 07 2 (i lower 3, ..N-S NV- Early Curr 83 7 li Unchanged 5 "v* inii/i t A pi. -Oct 80 0 0 Wnclianeed ll 20 5 0 !M liiKliof ■! 91 5 0 slower ■A VMm?',78 o. 0 Unchanged •1 "o S. , , ail -' , ' uly , 85 S 0 10s lower / •nMhini-SV-" July '0 0 0 Unchanfied ii . . ,o« 2 .i'J r - n '-'! u,y Bs 10 0 H,'J lower ? "nMM }oji*!r , { an ' y 111 fi 22.fi lower i "v l J?™ , 4 ; Ja 1'" July "W0 7.G lower "H' S^ y " Nov ' 95150 Ss lower r 81)0 B 2/6 hiyher « "wi K u 0 Unchanged o4 „ W .A.19i.-}-dj May-Nov S7 1J (> >r V) V.ucr L 8'2 0 0 Unchanged 31 ..las. 1020Jan.-July 85 0 0 -Sfflowcr ? .,Ian.laai-fOJan,-July V6 0 Q Unchanged