COMMERCIAL ITEMS

Dominion, Volume 9, Issue 2594, 16 October 1915, Page 8

COMMERCIAL ITEMS

. INVESTMENT SHAKES. In the investment market' yesterday sales were reported of Bank of New Zeo-. land, old, at £10 2s. 6d.; Wellington Trust and Loan at £7 75.; Wellington/Gas (£10) at £16; and Westiport Coal at" 28s. 9d. The quotations were as follow;— . " 1

WOOI;, SICINi' AND HIDE-: SALES. Messrs. iDalgety and 00. report:—We held our fortnightly sale of wool, skins, hides, and tallow this atfemoou,. whence offered (V good catalogue. . Competition was keen throughout, and prices for lines were on a- par with those ruling at last sale. Messrs. Murray, - Roberts and Co. report:— We offered 2700 sheepskins, 900 hides and calfskins, and'oddments of tallow. Prices for sheepskins showed an advance of id. por lb. for sound-pelted lines, and 2d. per lb. for inferior-pelted wool skins. Hides sold fully on a par with last sal©, any difference being in favour of sellers. Tallow remained firm."'' * Messrs. Levin and Co.- Teport that tho only wool offered w&a a few odd fadges, wool being held for the opening ealo of the season on November 17. Sheepskins showed an advance' of a full.halfpenny all round. Salted and green' advanced'about Is. each. Tho hide market was firm, and stronger for all lines. , ' " _ Messrs. \V. and G. Turnbull and Co., Ltd.. ieport having held their fortnightly sale of wool (o'ddmen&s only), sheepskins, •etc;r when they, offored a good catalogue. Combing sheepskins were m good, doma.ua, and showed an advance of id. per lb. Combing skins were somewhat -neglected. Hides sold on -a p/ir with last sale rates. Tallow was the same. " Sales wero also held by the United

Farmers' Co-op. Association and the Wairnmpa Farmers' Coop. Association.

l'ho New Zealand Loaa and Mercantile Agency Company, Ltd., report good competition for skins and hides, and they estimate that good shins .advanced £U. per pound and hides about i-Bd. on last sale. Calfskins wero also, in better demaud, and sold up to lid. per lb. Only oddments of wool were offered, as all bale lots are beig hold for tlio opening sale next month. Messrs. Abraham ana' Williams, Ltd 4. report that competition was keen, and prices for dry skins clicited keen competition at 0110 farthing to a halfpenny advance on last sale's rates, Tho inquiry for salted skins is still quiet, and prices still rule at tho lower level established. Hides wort) fit D&i.

Th range of prices was as under:— Sheepskins.—Jlnlfbred, 93d. to lOitl.; fine crossbred, lid. to ll|d.; medium, coarsc. 10d. to IQjJd.; crossbred shorts, half-wools, <Ud. to BJd.; dead and damage crossbred, 6id. to 94d.; inferior and badly damaged, 2s. to 62d.j lambs, 9£d.; damp, salted, and green-, Is. sd. to lis. (fcL; pelts, lsd. to 33d.; lambs, salted, sa. to 6s. 3d.

Hidc3.—Ox, heavy, 10} d. to lid.; ox, medium, lOd. to 103 d.; ox, light, Bid. to 9M.; cow, heavy. BJd.: cow, medium, Bid. to 9.U1.; cow, light, aid. to 83d.; cut, slipy. Inferior. 6 3-Bd. to 8 3-Bcl.; bulls', stag, 53d. to 7 : } r l.; yearlings, 7d. to 9d.; oalf, superior. Mid. to 103 d.; calf, medium, good, Bid. to 10d.; calf, damaged, Ib, BJd. ■ Tallow.—ln casks, 235. 9d. to 255. 3d.; in tins, etc., 13s. 6d._ to 225. 6d. Sundries—Rabbitskins, 6d.; .horsehair. Is. Id. ti Is. 3d.; cow tails, Is, 5Jd. Customs duty collocted at the port of Wellington yesterday amounted to £5963 4s. lOd. SOUTHERN MARKETS. • By Telegraph.—Press Association. Christchurch, October 15. Tt Is reported that there is inquiry for wheat on tho part of southern millers, and offers of 4s. Bd. have been made. Except in one case, however, this prico has been refused. The fact that southern buyers are in the market has also stimulated some local inquiry. ■ Owing to the rise in potatoes in Melbourne and Sydney the local market is lirincr, and. .prices now range from £7 ss. to £7 10s. at country stations. No business' of any cousequenco is passing in other lines of produce. Tlie price of hams and bacon has- advanced id- Per lb. For new season's factory cheese, BJd... and for uew dairy, cheese, 73d. to 2d. is being given for local consumption. HIGH BUTTER PRICES. PUBLIC FAYOUR MARGARINE. By Telezraph—Press Association—Copyright .London,. October 14.. The hii»h prices of butter are checking consumption, and are 'driving the public to use margarine, which : many Tetailers axo assiduously pushing. Danish butter, uow nominally 2205. per cwt., is temporarily not officially quoted. ■ . ■ Tho Germans arc still paying huge prices, and in view of the groat scarcity of other /ats, possibly butter and oil tickets will bo introduced similar to tho bread tickets. Tho Women's Association is circulating pamphlets throughout Germany instructine people how to cook without fat. ADVANOE IN NEW ZEALAND. Tho Prime ' Minister, '• referring to the above cablegram yesterday, said that the sudden jump in butter prices in New Zealand about a month ago . was duo to tho rise in. London. Tho Germans bought all tho Danish butter at Copenhagen, and prevented supplies going to London. The Australian and New Zealand butter was not then coming in l , and as the war has affected Siberian suppli-zs, the consequenco was a shortage in London. Firms in London cabled their New Zealand agent 3 to buy butter hero at increased prices, and naturally this had a hardening effect on the local market. ■

3Tr. Massey added that ho was glfcd to •ico that the New Zealand butter season had opened very well, and the result was that large supplies wero coming in. Shipping difficulties to England have now been quite got over, aud if it had not been for c-ura produce coming ia they would havo had a difficulty in.-filling all the space available this -month. Tho result will be that the freezing stores will bo .empty at tho beginning of the new ! season.

■ VICTORIAN PEODTJOE MAKICET. By Telegraph—Press Association—Copyright Melbourne, October 15. Wheat, nominal. Flour, £17. Oats, Chilian, 35.; Japanese, 2s. 5Sd. to 2s. 7d. Maize, £4 to £4 10s. Bran l , £4. Pollard, .£6. Potatoes, £12 to £12 10s. Onions, £5 to £5 10s. ADELAIDE WOOL SALES. Adelaide, OctoJjer 15. ; The wol market is active. All good classes a farthing to a halfpenny above last sales; inferiors aio similarly lower. BANK OP ENGLAND RETURN'. (By Telegraph.—Press Aesn.—Copyright.) London, October 14, The.Bank of England return, issued forthe'w<:ek ended Wednesday,. October 13, is as under:— Issue Department. Note Issue mMT.OCO Gov. debt ... £11,015,000 Other sccuri- . . ties 7,43-1,000 Gold ... ... 69,798.000 i 78,247,000' £78,217,000 I ■ Bankino Department. . Proprietors' Gov. securicapital £14,553,000 tics £25,060,000 Public de- Other seenriposits ... 70,860,000 tic 5....... 114,707,000 Other deposits — 97,907,000 Notes -45,687,000 Best, 7-day and other . bills ... 3,192,000 Coin ... ... 153.C00 £186,512,000 £186,512,000 The leading-items of the Bank of England return afford the following comparison:— This week liasfc week Last year Bullion .... ... ' 60.795.000 61.067.000 53,617,000 Hfßprvn -... 45.845.000 iG.823.C00 43.018,000 Note Circulation S-2.560,000 ; S-2.6Y7.000 34,667,000 Public Deposits 70,860.000 1 81.375,0C0 23.732.000 Other Doposits - 07,907.000 98,302,000 138,829,000 Proportion of reserve to liabilities 27.16 26.05 . 26.46 - GOVERNMENT SECUKITIES. . . Ths following are the latest quotations for Colonial Government securities in comparison with those ruling la6t week:—

MONEY MARKET. The Bank of Eugland discount rate wis on January. 2, 1914, reduced from 5 to % per cent;, on January 22 it was reduced .to 4 pel - cent., and on January 28 to 3 per cent. On July 30 tho rate was raised to 4 per cent., on July 31 it 'was raised to 8 Der ccnfc.-, and on August 1 it was further advanced to 10 per cent. Cla August 6 tho rato was rcduced to 6 per cent., on August 1 it was further reduced to 5 oer ccnt., at which rate it now stands. Tho Bank of France rate is 5 por cent., as against 4 per cent, prior to tho war. OPEN MARKET BATE. ,The open market discount rato lor three months' bills is 45 per cent., as compared with 41 per cent, last week, and 3 1-8. per cent, last year. • Si'ort loans are quoted at 4} per cent., as against 3 3-8 per cent, last week, and 2 por cent, last '.year. COLONIAL AND OTHER PRODUCE. ; Danish butter is quoted at 20is. Cheese is firm. New Zealand, 78s. Tho GovcrmnentiTias resumed tho purchase of Uanodian cheese. Sugar is firm. American granulated, nono offering. Bradford Tops.—Tliero is rather moro Inquiry. Sixty-fours, on spot, 38d.; futures, 36r1.; super sixties, spot, 375.; futures, 35d.; common sixties, spot, 36d.; futures, 34d.; lifty-sixci, 31id.; fifties, 2Sd.; forty-sixes, I4id.; forties, 22} d. METAL MARKETS. Copper, on spot, £72 10s. to .£72 15s. per ton; three mouths, £72 17s. Gd. to £73 2s. 6d. Tin, on spot, £150 to £150 10s. per ton; three months, £151 15s. to £152 ss. bead, soft foreign, spot, £24 7s. 6d. por ton; future, £23 ss. Pig-iron is quoted at 655. Ud. per ton.

Buyers. SeUera. £ s. d. £ e. d.' National Bank 4 19 'fi, — Well. Gas (pref.) - 10 0 Christclurch Meat — -. 16 5 0 Well. Meat Export (£5) ... 6 J S Well. MeatEx.(£2.12s. fid.) - - 217 0 Union Steam lord.) 13 6 — Union Steam (pref.) 10 0 — Lf3'laud-0'Brien — 1 2 \ ~'~- Manning and Co 417 6 . ~ N.Z. Con-sol. Dental — ; ■ 1 11 N.Z. Drug v. ' . 2 5. 0 Golden Bay Cemeiit 0 19/0' , C19 9 Ward and Co. 5 f 0 — W.F.O.A.;,(£!) - .

Variation " Stock pric , c — - ; . last Avcok. . £ 5. tl. 24% Imperial Consols 65 0 0 1/3 lowct i N.S,W.1933Jan.-July .05 1 3 Uuclianged .14 ,,N.S.W.193Q-eOMr.-Sp 95 10 0 5s lower 35 „N.S.W. Early Curr 83 5 0 Unchanged 3 ,.N.«,W. 19-25 Apl.-Oct 78 2 6 2/6 higher ' i „Vio. 1Q2U Jan.-July 05 5 0 7/6 lower 34 „Vic. 1021*6 Jan.-July 91 5 0 Unchanged 3 „ Vic. 1929-49Jan.-July 76 .0 U Unchanged 35 „S,A. 1916 Jan.-July 85 5 0 Unchanged 3 S.A; 1916 Jan.-July 70 O 0 Unchanged 4 „QTdl915-24 Jan.-July 95 2 6 2/6 higher Hrj „Q'I'd 102-2-47 Jan.-Jul y 91 5 0 Unchanged 3 ,.QTdl92-2-47Jan.-Juiy 74 10 0 Unchanged i "N.Z. 1929 May-Nov. 95 0 0 Unchanged 3$ " K.Z. 1912-40 Jan.Jly 83 7 6 Unchanged 3 "N-Z. 1920 April-Oct' 76-G 0 '5s higher "W.A. 1915-35 M'y-N'v 8ri0 .0 Unchanged 3 "W.A, 1915-35 M'y-Nov 83.. 0. 0 Unchanged36 "Tas 1920 Jan-Jiily 65 5 0 2/6 lower 3 "Tas 1920-40; Jan-July 76 Unchauged