COMMERCIAL ITEMS

Dominion, Volume 8, Issue 2540, 14 August 1915, Page 8

COMMERCIAL ITEMS

'INVESTMENT SHARES. In the investment market yesterday there were sales of, Union Steam, ordinary, at 225. 6d.- and preference 20s. l}d. The quo..tations were a3 follow;— ' . Buyers. Bellers. : - . . .£ s. d.. £s. d. National' Bank — 5 0 0 'Union Bank — 51 5 .0 National Mortgage • '4 0 0 Well., Gas (pref.) 10 0 Westport. Coal' . 1 U 0 Westport-Stockton 0 5 0 — D;I.C:' (pref.) - 10 0 •*EI :div. ....j.'. :'J_. • .. . ''. Customs duty.'.-collected', at the' port of yesterday amounted to ; £2340 Os. 6d,. ;•• ' 1 SOUTHERN MARKETS. . By Telegraph.—Press Association. Cnrlstohurch, .August 13. TJio reduction -In the nominal price of flour to £15, bran £6 105.,. end. pollard. £8. f.0.b., must have an effect upon the wheat market, as' the reduction in the price of flour from the highest point reached —£17 10s. per ton—is equal, to fully Is. per bushel la wheat. The reduction in the price,of flour locally is attributed'.to the. competition of mills outside *of _ those that are associated, .and to",the.fact that the Oamaru. mill has entered ( the "Uhiriet-ohurch'-market with'floiu*. '--The.imports of flour from America into the Dominion, which between July and September will amount to, several, thousand tons, is also a idistiirbirig element'.in the'situation. ,- 'l'hero is. ilo wheat offtcinS, arid ih tho iprescnt state of the flour market" millers are not : .' inolined to malte' Any 'offers for wheat, the price -of-which is therefore cure--ly nominal.X . Tliore is nothing _doing ; : in oats-andl' : there is only a limited demand for' oatsheaf chaff, the. price of which: is '«till'£7 lOs. per tba.' Potatoes which'have ' been: duU-oi sale lately at'£6 to £5 10s. per ton, are now rather firmer, in sympathy with the Sydney market, and are quoted at. £5 1 55.'.t0. £5.105. at country':stations. Tho supply of . onions is-bow in small compass,' and-: only•' small'/ shipping • parcels are available.. 'Factory butter has been reduced • Id; per lb., and is now quoted wholesale ait Is. 6d. to Is. 6d. Bread is now sellinff for Bd. the 41b. loaf. -TIOTORIAN PRODUCE MARKET. By Assocjation-Oonyright Melbourne, August 13. Wheat, local, about Bs.; flour, -".17; oats white 4s. 6d. to 4s. 9d., Chilian 45." 3d. to 49. 6d., Japanese'3b.'.6d. to: 3e. 9d.; maize, 4s. 61d.; bran and pollard, £8 55.; potatoes, £8 10s. to.;£9 V ss.;, onions, to £8 5?. - r SHEEPSKINS SALE. • • London, August 12. At tho sheepskins sale 5734 bales Australian, ana 1406 New Zealand were offered. There was a fair attendance,- but competition • war,' not brisk. Merinos declined '3d. to 3d., except for best oombings, wbioh were practically unchanged. Fine crossbreds were in moderate supply; prices unchanged. Others, id. to Id. lower. The next auctions will bd held on September 30. Messrs.'Dalgety and Company, Limited, received ; the following cablegram from their. London office, under date August 11: —"A.tho shoepskiil sales,-competition wa? fair.;:' Merino combing -and clothing skins showed a decline of 3d. per lb.V'and crossbredg werd 'Jd.'lower." ' New' Zealand Loan..:ahd::..Mercantile Agcncy Co., Ltd. have received the following cablegram from their London house, under date August 12:—Sheepskins: Merino combing, farthing; crossbred .combing, mostly tliree-farthinga lower; ". Short .and shorn aie', neglected.. .. . - : ; .. ... ..sheepskins.. .. . MesET3. Sanderson Murray and 00., Ltd., have received the following cablegram from their London friends, Messrs. Sanderson, Murray and, Co., dated August 12:—"Sheepskins: Merino a' farthing lower; other de- : scriptions one penny lowor and difficult of salo; crossbred thrcc-farthings to penny rlower."

BANK OF ENGLAND RETURN. (By Telegraph.—Press Assn.—Copyright.) London August 12. The Rank of England return issued for the week ended Wednesday, August 11, is as under:— Issue Department. Koto Issue £88.225,000 Gov. rtobt ... i 11,015,000 Other EGCiu'itios .' 7,434,000 Gold 64,776,000 £83,225,000 £83,225,000 Bankikg Departmekt. Proprietors' Gov. sc'cuiicapital £14,553,000 tics £45,915,000 Public de- Other securiposits ... 142,604.000 ties 148,136,000 Otliot deposits 65,076,000 Notes 50,762,000 Rest, 7-day and other .bills ... 3,543,000 Coin 563.C00 . £-245,776,000 £245,776,000 The leading items of tho 'Bank of England return afford tie following comparison:— ' This week Last week Lastyeor Bullion ... ... 64,776.000 61,203.000 32,342,000 Reserve - 51.725,000' 47,186,000 15.530.000 Note Circulation 32.463.000 33,486,000 35,834,000 Public Deposits 142,604,000 147,059,000 7,889.000 Other Deposits 85,076,000 84,221,000 83.826,000 Proportion of reservo to liabilities- 22.71 22.40 17.02 GOVERNMENT SECURITIES. Tho 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. 2J% Imperial Consols 66 .3 4 Unchanged i „N.5.W.1933Jan.-July 95 2 6 Unchans«ii Si ,N-5,W.1930-50Mr.-Sp 94 0 0 Unchanged 35 „N.S-W. Early Curr . 83 . 5 9 2/6 lower 3 „N,S. W. 1025 Apl.-Oct. 78 ' 1 3 , 1/3 higher 4 "„Vie.l92oJan.-July ': 95 2 6 Unchanged Si „Vio. 1921-6 Jan.-July 01 7 6 Unclianced 3' ..Vic. 1929-49 Jan.-July '76 0. 0 Unchanged 36 „S,A. 1916 Jan.-July 85 6 0 Unchangad 3 „B.A. 1916 Jan.-July 70 0 0 Unchanged i „QTdl9ls-24Jan.-July '95 0 0 Unchanged Si „Q'rdl9-22-47Jan.-July .91 5 0 2/6 lower 3 1 ,Q 1 1 , d192-2-47Jan.-July 7112 6 Unchanged 4 „N.Z.' 1929 May-Nov. 95 ± 3 1/3 higher Si „N.Z. lI)12-40Jan..July 83 5 0 Unchanssd 3 „N.Z. 1920 April-Oct.- 76 0 0 Unchanged 35 „W.A.1915-35May-Nov .87 10 0 .Unchanged 5 „W.A,1915-35 May-Nov 82 2 6 Unchanged 94 1020 Jan.-July • 85 15 0 Unchangad 3 „T«s, 1920-40 Jan.-July -76 1.3 Unchanged "MONEY 'MARKET. Tho Bank of England discount rate was on January 2, 1914, reduced from-5 to :: 41 per cent., on January 23 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 on August 1 it was further advanced to 10 per cent. On August 6 the rate was reduced to 6 per cent., on August 7, it waß furtier reduced to 5 per cent., at-which rate it now 'stands. ' The Bank of. Prance rate is 5 per cent., as against 4 . per ceDt. last year. .- . OPEN MARKET RATES " - The open market discount rate for three months' biUs is 43 per cent., as compared with '5 iper cent, last week. and ' per cent, last year. • ... . Short loans are quoted at 33 per cent, as against 41 per cent, lost week, and -— per cent, last year. COLONIAL AND OTHER PRODUGE. Wheat.— I The market is firm,:upon retarded threshings, and also the damaged quality of the Amorirjan winter crop, owing to continuous rains. .' . -' ' " FlOur—The - market is steady; improved inquiry for spot. Oats.—Market quiet.- • New Zealand, 375.; Baiia Blanoa, August-September shipment, 255. ' , Peas.—Market firm.; Now- Zealand, maples,' 625. to 655.--. Beans.—Market firm. Prices unchanged. Butter—Market quiet. .No' Australian or | New' Zealand offering. Cheese.—Market slow. ' ■ -Some New Zca land sold •at 745. afld. 755.-... .a ■ few Australian at 70s. ... ~ •. Bradford Tops.—The market ib inaotive owing to the holidays: , The spot quotations are as follow:—Sixty-fours, tuner sixties, 42d.; common sixties, 40td.; fifty-sixes, 34id.; fifties, 30d.; forty-sues 26Jd.; fortie, 24Jd. METAL MARKETS. Bar . silver is quoted at 25 l-16d. Tier ounce standard. ■ Copper.—On tho spot, £67 ss. to £67 10s. -per ton; art, three months, £68 10s. to .£6B 155.; electrolytic, £81 to '£82. Tin—On the spot,~£lso ss. to £150 15s. per -ton; at three months, £152 10s. to £153. licad— Soft foreign,, £20 55.,t0 £20 7s. 6d. per ton. ■ • Pig-iron.—Middlesbro No. 3, 665. Id. per ton. . ■ ' - -.