COMMERCIAL ITEMS

Dominion, Volume 8, Issue 2522, 24 July 1915, Page 8

COMMERCIAL ITEMS

, INVESTMENT SHARES. : In the investment market yesterday, a sale of National Bank .shares at. £5 6s. was recorded. . The quotations were as ■under:— •• '• Buyers. : Sellers. £ s. d. £ s. d Bank N.Z; (£3 6s. Bd.) ... - 10 17 6 Bank JT.Z. (£6 13s. 4d - . 1616 0 Ohristchurcli Gas (£5) ... 7 17 0 800 Gisborno Gas 114 0 Well. Gas (£1?) 16 15 0 17 0 0 Well. Gas (pref.) ...019. 6- . 10 3 N.Z. Insurance .....:. 6 2 0 ■ — South British Insurance... 4 15 0 . — Ghristchurch Meat (£10)..: " — 16 7 0 Oliristchnrch Meat (£2) .... — 3 3 0 Well. Mt. Ejwt.(£2l2s.6d.) .2 12 6 2 15 6 Union Steam (ord.) — 1 3 9 [Jniou Steam (pref.) ...... 10 4 10 7 Hikurangi Goal ............... -016 0, 018 0 IVnstpol't Coal, — 111 6 •K.Z Con. Dental 10 0 - Golden Bay Cement — 119 Sharlandi (ord.) 12 3 — Sharland (pref.) 12 3 — Oustoms duty: collected at the port, of Wellington yesterday amounted to £3975 15s. ' ,

WOOL-, SKIN, AND. HIDE' SALES. Messrs. Dalgety and Co. report:—At our usual fortnightly salo this afternoon, wo offered a good catalogue of skins, hides, and talow, but all wool was held over for the next arutchings sale on August 6. A representative number of - buyeTs were present, .and ...all lines' wore -keenly competed for. All good, lines were firm at last sale's rates, also were hides, with the exception 'of cows, which showed a further advance prices. ruling then. ..Tallow also was advanced, and prices were 6d. to Is. better than last sale rates. Messrs. Murray, Boberts and 00. offered a catalogue o£ three thousand sheepskins and-eix hundred hides, besides tallow. Competition was keen-, prices for skins showing a decline in inferior pelted lots, sound lots being firm at last sale's rates;

hides showed an advancc of a farthing per lb., with keen demand lor all weights. Tallow was firm at last sale's prices.

Messrs. Levin and Co. report, that better qualities of sheepskins maintained present prices, while inferiors were raUior f cheaper. There was good competition for. hides, and last sale's rates were well maintained. Tallow was strong. Th& .New Zealand Loan and Mercantile Ageucy Co., Lt<l.» offered a small catalogue of bag wool and fairly large catalpgucs of sheepskins and hides. Competition was good for wool, hides, and Bound woolly skins, but damaged, seedy, and shortwoolled skins were somewhat ncglectccL Tallow w*as in better request*

Messrs. W. and G. Turnbull and Co., Ltd., report that there was very little wool offering, being held until the special cru telling pale, which is to be held on August 6. Sheepskins show a. declinc of id. per lb., and hides were about on a par with rates ruling at last sales. Successful sales were also held by the Wairarapa Farmers' Co-op. Association and the United Farmers' Co-op. Association.

The range of priccs was as under. Sheepskins.—EalCbred, ltd. to Hid.; fine crossbrcd, Hid. to 12d.; medium, coarse crossbred, 10£ d. to 12Jd.; shoTt to halfwools, 63d. to lOd.; dead and damaged crossbred, 7id. to 91d.; inferior and badly damaged, 2d. to BJd.; lambs, Bd. to lid.; damp, salted, and green, 2s. to 125.; pelts, 1(1. to 4d.; lambs, salted, 3s. 6d. to 7s. lOd. Hides—Ox, heavy, 601b. up, 10 l-Bd. to llid.; ox, medium, 50-591b., to lid.; ox, lipht, <91b. and under, BJd. to 10ld.; cow, heavy. 551b. und over, to 10 3-Bd.; cow, light, under 421b., 9d. to IOJd.; cut, slippy, and inferior, 4d. to 9id.; bull, stag, s£d. to 7d.; yearlings (161b. to 241b.), Bd. to lOd.; ,calf, superior (up to 161b.), 9Jd. to lOd.: calf, medium-good, (up to 161b.), 9d. tolOd.; calf, damaged, (up to 161b.), 3d. to B£d. Tallow—ln casks, 245. to 275. 3d,; in tins, etc., 16s. 6d. to 245. Sundries.—Horse hair, Is. 3d.; cow tails, Is. 4d. SOUTHERN MARKETS. (By Telegraph.—Press Association.) Chrlstchurch, July 23., The local grain and produce markets are still in a very dull state. The fact that flour has been reduced another 10s., and is now quoted at £16, has natiually tended to make the ton© of the wheat' market easier. There is nothing doing in oats anil oatsheaf chaff is in rather less demand, while there is no inquiry for oat straw chaff. The potato market, is quiet, andbuyer* are now offering only £5 10s. to £5 355., but growers are still holding firmly. There is little inquiry from North l6land, and the Auckland marked is said to be still well supplied with potatoes from tho Wellington Province. - The?© is littlo. demand for shipment to Australia, thero i 3 still a largo in store—sufficient,• it is said, to supply shipments at the present rate.until tho end "of August. Onions are firmer, and are now quoted at £4 ss. at country stations. LONDON "WOOL SALES. By Telegraph—Press Association—CopyrisjM London,. July 22. At the wool sales there was keener general competition all-round, prices hardening except for shabbies. Prices realised:— WeUmoningle, top 17£ d., average 15Jd.; Ea"tmcre, 15d. and 13gd.; Gondubluie,' 26d. and 25Jd. New Zealand: Tokomaru, I7idi. and 161d.j Gorald, I4d. and 12d. The sale included 1213 bales of English, wool, which were mostly withdrawn. "Washed Hampshire Down, £3d.; greasy, 16Jd. Messrs..W. and G..Turnbull and Co., Ltd., report having received a cablegram from their London agents, under date July 112. which reads as follows:—"Merinos and best, halfbreds about unchanged; other qualities ten to fifteen dccline. Sllpes exceptionally weak; reason: continued congestion. lack ircr s h Army orders, and financial stringency owing.to sudden closing sales/* VICTORIAN PRODUCE MARKET.. - , • Melbourne, July. 23. Wheat, Bs. Id. to 8s; 2d.- Flour, £17; Oats; Tasmaiiiau and Now Zealand, 55.-3d. to ss. 14Jd ; Chili, te. 9d. to 4s. 10d;; Japan, nomin-. alt 4s. Maize, ss. to ss. Id. Braa, £10'5b. I Pollard,. £11 ss. Potatoes, £8 to £8 10s. | Onions, £7 10s. to £8. * • BANK OF ENGLAND RETURN.. • (By, Telegraph.—Press Assn.—Copyright.) London, July 22; The Bank of England return issued for the week ended Wednesday, July 21, is as under:— ' Issue Department. Hots Issue ' £76i909,C00 Gov. debt ... £11,015,000 Other securities 7,431,000 Gold 68,460,000 £76,909,000 £76,909.000' Banking Department. Proprietors' Gov. securicapital £14,553,000 ties... ... £53,158,000 Public do- ■■ -.Other securi- ■ , posits ... 109,226,000 ties 161,567,000 Other doposits ... 134,620,000 . Notes 43,135,000 Best! 7-day and other > bills' ... 3,428,000. Coin ... .... 967.C0D £261,827,000 £261,627,000 Ths leading items of the Bank of England return afford tie following comparison:— This week Last week Last year Bullion — ... 68,460.000 52,131,000 68.f64.000 Eeservo - 44.102,000 37,082,000 29,297,000 Noto Circulation 33,774.000 34.495,000 20,317,000 Public Deposits 109,226.000 62,987,000 13,735.000 Otlier Deposits 134,620.000 157,834,000 42,185,000 Proportion of reserve to liabilities 18.09 17.57 52.40 GOVERNMENT SECURITIES. Tho following are the latest -quotations for Colonial Government securities in comparison with those ruling last week:—

MONEY MARKET. The Bank ol England discount rate was on January 2, 1914, reduced from S to 4J per ccnt., on January 22 it was reduced to 4 per cent., and on January 28 3 per cent. On July 30 the luto was raiecd to 4 per oont. and on January 2B 3 per cent., and on Aucust 1 it was further advanced to 10 par cent. On AuEUSt 6 the rate was reduced to 6 per cent., on August 1 it was further reduced to 5 per cent., at'.which rato It now stands. Tho Bank of Prance rato is 5 per cent,, as against 4 per cent, last year. OPEN MARKET RATES The open market discount rate for three months' bills is 5 pur ccnt-., as compared witli 5 per cent, last week and 2 9-16 per cent, last year. Short loans aro quoted ,at 45 per cent., <13 against *3 per ccnt. last week, and 15 per cent, last year. COLONIAL AND OTHER PRODUCE. Wheat.—The wheat market is guict, prices 6teady. Flour is firmer. Oato steady. New Zealand, 375.; BaWa-' Blanca July August shipment, 255. 3d. Peas and Beans—Market firm; full prices. Sugar is steady and unchanged. Butter—Danish is very firm, owing to the strong demand from Germany and Holland, where foot-and-mouth disease is prevalent, and colonial is practically exhausted. Australian nominally 138s. to 1425. Cheese Is very slow of sale. New Zealand, 755. .to 785.; Queensland, 745. to 765. Bradford Tops.—Tho market is steadier, and exhibits a more cheerful tone. Tho following aro the current quotations;— Sixty-fours, 42d.; super sixties, 41Jd.; common sixties, 40d.; fifty-sixes, 35(1.; fiftieß, 31d.; forty-sixes, Z7d.; forties, 25d.

I Variation Rtoptr compared btock : Price. with ' . . ' laat week. £ 9. (1. 2i% Imperial Consols 66 0 0 30s lower i „N.S.\V.1933Jan.-Jiily D5 0 ; 0 • .1/3 lower 3j „N.S.W.1030-50Mr.-Sp Do 0 0 8/91owor 3i hN.S-W. Early Curr 63 5 0 Unchanged 8 „N.H. W. 1925 Apl.'Oct 78 0 0 Unchanged 4 „Vic. 1920Jan.-Juiy G5 B 0 Unchanged 8$ „Vic; 1921-6 Jan.-July 91 7..6 .2/6.1iigher 3 „Vic.l929-49Jan.-July 76 0 0 Unchanged : 3i „S,A, 1916 Jan,-July 85 5 0 Unchanged 3 „S.A. 1916 Jan.-July 7Q ; 0 0 Unchanged 4 „QTdl915'2iJan.-July 95 5 0 Unchangad 'Si „ Q '1 'dl922-47J an. • J uly 91 7 6 2/6 higher 3 l ,Q > i'dl83'2-d7Jan.'July 7410 0 Unchanged i „N.Z. 192s) May-Nov. 95 0 0 Unchanged SJj ,.N.Z. 1912-40Jan.-JuIy 83 5 0 .1/3 lower 3 „N.Z. 1920 April-Ocfc. 76 2 6 Unchongcd 3i „W.A.1915-35 May-Nov 87.10 0 Unchanged B „W,A,1915-35May-Nov 82 9 0 Unchanged 34 ..Tas. 1920Jan.-July 85 5 0 5s lower 3 ,,Taa. 1920-40 Jan.-July 76 1 3 Unchanged