COMMERCIAL ITEMS

Dominion, Volume 8, Issue 2570, 18 September 1915, Page 8

COMMERCIAL ITEMS

•, ,'v INVESTMENT SHARES.' In, tlie investment market , yesterday •there';Jver.evsales:of BanlcCof.vJJew 'Zealand (£10) at £16 ss„ and Manning nnd Co. at £4 12s:'6d. The quotations were as follow:— . Buvers. Bellcrß. 1 £'s. d. £ s. d. National--Bank -:..... 416 6 .— , Bk'. N.Z. (£3 .6s. Bd,) 10 2 6 . - ' National: Mortgage d 0 0 Well. "Invest. -T.' and A."O 11 3 i '\VelL.,..Triis,t,-JJjoa'n, Ltd./.: 7.i7-;-'0 ;..-.vr-A-Woll. Dep., and Mort. ... " — '" 0 8 0 Gteborno Gas 114 0 . — 'Well:-,-, Gas.,(£lo).-. ; '.. 16-0-0- — , Well. • Gas' ! ..'.(pref J 10 0 Standard Insurance ...... — 113 0 Well. Ueat Ex. (£2l2s. 6d.) - 217 "0 Union; l'-S.iOo'i'jv^ Union..Steam, (prof.) ~019 9'- 10 0 Kaiapoi IVoollen - tord.)'... '-S -4 6 . —, Golden Bay Cement ..... 10 0 . PAI'AHOA COAL COMPANY. ■ GOES INTO LIQUIDATION. ' : At a meeting of the Paparoa Coal-mining Company; held ,in the:-Chamber- of Commerce yesterday morning (Mr. T. S. Weston 'presiding). it was resolved that the company should ■go into- liquidation forthwith: . Mr. W; S. Wlieeler. was appointed litluidator'at- 'ai remuneration- of ' £100. ; By taking this action the Paparoa mine falls ..into of the first debentureholdets; Twho'-leia a meeting "-after the meeting .of ' shareholders, when it . was dccidcd. to keep, tho mine going on a reduced ecale."'" Messrs. T: S. "Weston, W. E: Moorehouse, Wm. Barton, and Lynch were appointed a. committee to act on behalf ,of tho 'ifirst 'debenture-holdcre in conjunction :with:the;triistees. (Meesrs.'X T.':Bato-and J.-8.-'Harcourt). '■ ;** '- —r r' -- 1 --

WOOL, SKIN, AND HIDE SALES.. ■Tho' fortnightly wool, skin, and sa-les were held - - yesterday by.. the ! -'various brokers. ' ' • . - ■

! Messrs.. r DaQgety and oo„.Ltd.,..report Prices for ''wool, .tallow, and.; good hides :on-:a;' par with"-those ruling' at last sale. Inferior sorts of liides, however, were slightly easier, whilst sheepskins showed. decline I 'of-ab'out.'Sd.' to ld.';per -lb,. i.AU seedy'lots praotioally failed to elicit any bids,

• The New - Zealand Loan and Mercantile Agency Company, Ltd., report':—We offered a few odd lota of - wool and , iairly largo catalogue of sheepskins, '. hides, and calfskins. In sympathy with,-present state of: the;,world's - market wool and skins.wero* lower by id. to Jd. , per lb: There was a fair demand for plume heavy.ox ■ hides, - but light ox, ~ cow hMeal calfskins were easier than -lafe rates/ -There".was- a'poordemand for tallow,-suitable-for shipments but'odd packages and tins.'sold ; well.. ?" '• Messrs. . Murray, - Bobert's; : 'and ' Co; - re-' port;r-We'' submitted a:-catalogue "of 3000= hides and .'calfskins, besides oddmenta of tallow.' /'There-was* a": good . attendance of buyers,. competition being keen, but at a halfpenny to thres,farthings.;lpwer .for' 'sheepskins.-- Hides fairly.- maintained lastsale's'.price's for sound- conditioned lotv ,j but ""damaged" and badly-conditioned hides were a little easier, Tallow' 'showed : a-slight'advance.- • ' Messrs.'- Levin' and Co.'vreport -.that' in wool nothing, was offered'except a.few odd lodges. Wool is being hold for - October--1 or a later sale. - The■-sheepskins.,mar-ket, ■ in sympathy, with the low rouge .of prices -for slipes in- London, cased a halfpenny, to' throe-farthings. . Salted'' and green were down fully 70H0: shilling • per skin. The hides market 'was : firm and unchanged. -~ r v.- • Messrs; . Abraham-' - .and ' WiUianls.'-' Xitd., '.?®p or t having offered ;a- good-catalogue of Gil classes of produce..' -.Skins ■ were lower by 'peri'lb.'.. Hides,/ also were about one-eighth to or fajthingvlofrcr. • W\ and G. TurnbulL end- Co., Ltd;,:-, report that, in sympathy - with tho weakness in London, for s-li»*s,.' prices' for sheepskins' showed a, declino for. all classes of. 3d. to Id. per lb. Hides also "declined in value from 3-Bd,, to ' Jd.. per, - lb. .Very little wool was; offering.'. .1 : ' The TJriitqd Farmers', ' end the Wa-iroaia.paK Banners'>o<H>p. Association, report, that, sheepskins' ruled about id.- ■ lower, • and-'hides, especially inferior, slightly -easier ..than', at ;'la-st soles. •- The range tof . prices- was .-.as under:— ' Sheepskins: Heft-bred', 9Jd.' per lb.; fine crossbred, led.; medium ■ to coarse crossbred,'9id. to 10d.; short to half-woolß,-6Jd. to' Bid.; dead and.damaged crossbred, 6Jd to B{d.: inferior and. badly damaged 2d' to Bd.;-lambs, 83d..t0 10d.; damp, salted, 1 and green.'6s. 6d. to lis. 6d. each;.-..pelts Is. Id, to Is., Zd. each; lambs," salted, 45." 3d. to ss. 3d. each. ■ '.. '-' s. Hides: Ox, heavy, 102d..t0 11 Wd: per lb.; ox, -medium, ■ 91d, to'lo-3^.;-ox, light, 6d to 9,.3-Bd,; cow, heavy, 82d..'.to'M0»d.;icow, medium, 7id. .t0v.92d.; 'cow,/light," Bid." to 83d.;.,cut,..slippy, and inferior, 6d. ; -to Bd.bull, to::7}d.; yearlings,',Bd/to:-8Jd.; C&U,sUpot. 92d; to. ioid."r cpjf,. mediijin to good,- ■ Bd.-.-.tu. --'IAJd.; caif,'.' damaged,4d to 81d.- , ; - *1 '.'■ ' Tallow,: 'In casks, M6.Tto :255; in, tins;-20s.'6d. to 235. per cwt;. ' O'u'stdms", dutSr colleoteiu at the port of Wellington -yesterday -amounted - to - £1440 9s. sd. ! SOUTHERN MARKETS. ; By Teiograph.—Press Association." "' - _ " Chrlstchurch, September 17. The gram trade has been quite lifeless during the week, there being no offering and neithcr-.does'there, appear to be any demand, -Trade in. agricultural seeds is restricted by the continued'dry weather

tho condition of the country being made •worse by the hot and high nor-west winds that have prevailed during the week. There is little inquiry for potatoes, and.'lew are offering at present. Prices remain about the same. LONDON TOOI; SALES. ■ Messrs. v Da.lj?Gty gjkl Company, Limited, advise havinj? received the 'following cablepram from their London office, under dato September 15:—"Best .merinos, pr«i6y <ind scoured <ire firm; other merinos irreirul/ar, and 5 per ..cent, to 10 per cant. below opening' 1 rates. Good greasy crossbred*. are &lightly' easier. • Other sorts aTe 5 per cent, to 10 per cent.- lower. : Scoured elipc, ,10' per cent. t0.15. per.cent..lower." ' j BANK OF ENGLAND RETURN. (By Telegraph.—Press Assn.—Copyright.) London,-September 16. • The Bank of England return .issued for 111©'week ended Wednesday,. September 15, is as uudcr:— ' . " < ' ISSUE Department. Note Issuo £81,749,000. Gov. debt ...' £11,015,00 • Other sccuri-. '.ties'...... 7,434,000 .G01d,,... ... 63,300,000 £81,749,000... '■ £81,749,000 ■ Banking .Department, Proprietors' , Gov. sccuvi- . capital £14,553,000 . ties.;:: .... £34,418,000 Public de- • Othorsecuri- . posits ...-M1;575,000 ■ ties.., ....144,955,000 Other de- , • ■ 'posits ... 90,188,000 N0te5....... 50,231,000' .'Best, 7-day . - . r. and other ... : hills . 3,929,000 : . Coin ... ' 038.000 } • £230,245,000' ' " ; &30,245,q(j0 The leading items of tho Bank of Eng-. land return afford -the following■' compari-' son:— This week, Last week-Lastyoar Bullion ; 63,3c6.b00 ' 66,740.000' 48.034,000 Reservo ■ .:. - 50.673,000 54:138,000 ' 32,548.000' Koto Circulation 31.515,D00 31,791.000 . 34,623,000 Public Doposits 141,575 000 '129,588,CC0 18,643,000 Othor Deposits 90,188.000 85,942,000 135,042,000 Proportion of * . reservo to liabilities.,, - 23.03 25.12 -.21,18' GOVERNMENT SECURITIES. The following are the latest quotations for- Colonial Government securities in ! comparison with those ruling last week!—

MONEY MARKET.' • The Bank of England discount rate was on January 2, 1914, reduced from 5 to 4J 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'asnt.. and on August 1 it was further advanced to 10 per cent. On August 6 the rate wasTeduo--: ed to 6 per cent., on, August 7. it was further xeduoed to 5 per cent,. .at which, rate it now stands. ' . The Baujv of France rate is 5 per. cent..' as against 4 per cent, laet year. '. : OPEN MARKET RATES , The open market discount rato-for three months' bills is 43, per cent., as compared with' 43 to 43 per cent. last. 33-16' per cent, last year. . • Short loons are auoted at 4 3-8 per cent, as against 4 3-8 per cent.-last- week and ,2i per cent, last yeax.. COLONIAL AND OTHER PRODUCE. Butter.—The market is - very firm. Cheese.—'The markot is firm. New Zealand cheese, is 'quoted at 77sV. to 78s. Sugar is Quiet. American, granulated, ,295. per cwt.. '' Bradford' ops.—The .market is quiet. The. quotations are:—Sixty-foura \4od.: . super sixties, 39d.;'- common -sixties,> : 38d.;u flftysiies, '32} d.; fifties,. .29d.';; forty-sixes, 26d.; forties, 24d. . ... . '.. 313TAL • MARKETS. ... Copper.—Electrolytic, £86 to £87 : per ton.' . Tin.-rOn spot,-£153, 15s. to £154 55.-; threomonths, ;■ £154 15a.-to £l£is,ss. . -, Lead.—Soft"' foreign,.'' spot,'. £23 '-2s.' 6di; forward, £22 10s. The imports of lead for the. past month, totalled 20,269 tons, of which 8531 tons were' Australian.' The exports totalled' 6227. tohiv .': ! - ■ Silver.—Bar silver .is quoted at 25 7-16 d- , ounce.standard. . WHEAT AND OTHER CEREALS.;' (Bee. Soptember i 7, 8.15 p.m.)

London, September 16. Wheat'is quiet and ' unaltered.-1 The visible 6upply ,Is estimated at- 17,613.000 bushels. . . ~ ' Flo.ur Is scarce. and/very firm: • •Barley is steady, iand : unchanged.■ Oats aro weaker. Bahia afloat. 243.; New Zealand, 365. to 375. ..... Peas and . beans are quiet " arid uh« changed. . , 1 -•••-■• YIOTORIAN PKODUOE 3IABKET. Melbourne, September 17. -Wheat, 85..-lid,': Flour, - £17. ■•Oats, Japan, 2s. 6d.; Algerians and. tawny Chile, 3s. 9d. to 4s. . Maize,'4s.. to, 4s. 6d:. Bran, £4, Pollard, £6.' Potatoes, £B to £8 ss. Onions, £6 10s, to £7... CHAFF IN STOKE. \ Bpealdng roughly, says the ■ "Otago, Daily Times." it, is estimated that ; t.hcre' aro 30,000 sacks of straw chaff in the stores in Dunedin, and the position holders... are' faced with is: What are they 'going to do with it? , Heavy stocks are also held in Ohristchuich and Bluff, and the same problem has to be solved by -merchants there. In ordinary seasons the farmer removes stacks of straw from his farm by the simple. method of burning, them, but tho severe drought in. Australia this yearbrought about a demand for all descriptions of fodder, and in answer to this demand South Island merchants bought, large parcels of this description of chaff -from the farmers and sold .to Australia,'chiefly to Sydney. Shortago of. freight, however, prevented full shipments -from -being sent to the other.6ide, end though a fail* quantity was- got away; many-thousand sacks .have been, left on th-e hande of -merchants, as with the advent of spring in/Australia the demand has practically ceased. Iforoover, some of the chaff which was shipped is alleged .to havo. become heated, and Sydney merchants- hiave -refused' 1 to toko delivery. One Dunedin merchant 'has receiv-. cd advico, that a shipment, of close On 2COO &a«lc3 which he forwarded to Sydney is .now lying unclaimed on the wharf there, the purchaser .evidently haying declined to .toko it over. . A number of New Zealand sellers han-e already gone .to Sydney to seo what' can be done as regards their • particular shipments, but- ■ reports state that the Sydney merchants are not. now anxious to fulfil their contracts. Tho6e New Zealand merchants who' got shipments 1 away early iuade substantial profits, but these have now been more than- eaten up by the .losses suffered through subsequent ■ transactions. One Ohristehurch seller has admitted that he had cleared £1000 by his first shipment, but that ho is now "standing . about square." In pases where contracts provided for the farmers to ■ supply chaff at intervals, and they havo. not yet been called on to chaff the slacks, buyers have paid out the cost' on" the purchases to"- thefarmer,, making, their. first' loss their last, and saving the cost. of railage, cutting, etc. A- largo amount of money has thus been lost to the Dominion. through the : in-ability-to get the chaff to' Australia; and in the •meantime tho disposal, of the hu»equantities in stores .in Dunedin,' Christohurch, and the Bluff remains unsolved. And the chaff is not being improved in condition through having .to .lie In the 6torcs.

1 • . . ; Variation Stock -^compared V * i r c * , Price. .\with > ! • " ' ; " • . ••• • • "• last week; • ... J .... 8t V-. 24% Imperial Consols ' (ifi-' l. 3 1/3 "higher - 1 4 |,H.S.'W.1939Jan.-July 00 1& 3 2/6 low or . . ii *N.S."W .1930-50Mi\-Sp -95-1 3 . 17/6 higher . .34,»,Ni8-\V. Early Guvr" 83' 5 : 0 Unchanged' 3 „N.S.'\V.1925 Apl.-Oct • 78 2 0 - 2/15 higher"' i „Vic. 1920 Jan.-July. Do 6 .3 -1/3 higher 35 - „Vic. 1921-6 Jan.-July 91 6 0. -Unchanged 3 »„Vic.l929-49Jan.-July " 76 0 0 5s lower ' 34.„S»A. 1916Jan.-July 65 6 0 'Unchanged 3 „S.A, 1916 Jan.-July 70 0 0 Unchanged 4 „Q'rdl915-2iJart.-Duly -95 ; '0 0 .-2/6 lower : ■ Si 01 0 .0 Unchanged 3.. 7i 10 0 ' Unchanged . i „N.Z. 1929 May-Nov;- • 95 '1 • 3 1/3 higher 34 „IS.Z.li)12-40Jau.-July 8314 6 Unchanged. •3 „N.Z. 1920 April-Ocfc. 0 .0 Unchanged: Si m W.A.1915-35 May-Nov ' 87 10 -0 Unchanged 3 „'W.A,1915-35May ; 'Nov 82 0 0' .2/6 lower -• 34 ..Taa. 3920Jan.-July £5 0 0 Unchanged' 3 Jan.-July 76 1 3 Unehanged,