COMMERCIAL ITEMS

Dominion, Volume 9, Issue 2624, 20 November 1915, Page 8

COMMERCIAL ITEMS

INVESTMENT SHARES. In tho investment market yesterday sales wcro .recorded. of Bank of New Zealand '(newl at £16 9s. fd., and New Zealand Drug at 455. The quotations were as follow:— _ Buyers. Sellers. I '£ 8. d. £ s. d. National Bank 6 0 0 — Well. Invest. T. and A. ... — 011 0 Well. Trust, Loan. Ltd. . — 7 7 6 Napier Gas (£5) — 9 0 0 Gear Meat (£1) — J. B fi Well. Meat Export (£5)... — 6 0 0 Well. Meat. Es. (£2l2s. 6d.) - 214 .6 N.Z. Shipping (ord.) — 18 0 0 Union Steam (ord.) 14 0 14 6 Well. Woollen (ord.) 4 19 6 5 1 0 Well. Woollen (prof.) ... i 6 6 — Taupiri Ooal — 0 15 6 Golden Bay Cement 0 19 6 10,6 Ward and Co 5 0 0 — Customs duty collected at the port of Wellington yesterday amounted to £1892 As. lOd. SOUTHERN MARKETS. By Telegraph—Preea Association. Chrlstohurchi November 19. Although the. Government agreed to allow the export of a, certain quantity of wheat it is difficult! to eee how profitable advantage is to be token of this, as the import of wheat into' Australia is prohibited. Although shipping space to London may be obtainable the freight and other ohorges, it is said, would amount to about 2e. 6d. or 2s. 9d. per bushel, while the price of wheat in London is a little more than 7s.

In ,the meanwhile there is little business doing locally, although the' tone of the market indicates some' inquiry from the North Island, but the price offered is generally lower than can be accepted. The continuance of dry wea.ther.and nor'-west winds is .having a prejudicial effect on tho crops, and some of the best wheatrgrowing lands have not benefitted to <aiy extent by the showere which have prevailed in other .parts during the past month. Unless rain cornea soon the crops must be unusually •light. Good'rain will materially help the later crops. • With business in potatoes . there is no change in price; early potatoes are more plentiful in. the • local • market. LONDON WOOL SALES. By Telegraph—Press Association—Copyright , (Kec. November 19, 9.30 p.m.) ■ London, November 18. The. wool sales have clo«xi firm, with keen bidding for all classes, especially crossbreds. The distribution was as follows Sold to the Home market, 98,000 bales: 'Continent, 13,000-bales;' United States, 12.000; held -over, 2ZCO. The United States supported greasy crossbred sllpes, the Home trade .was remarkably active on shabbier and'faulty, sorts; the Russian demand'for scoured merinos, was persistently maintained.

All greasy combing merinos were 7* per cent, above the opening-ratee; faulty 'carbonising , wools were generally 5 per cent, above last, eales; greasy crossbred 6 advanced 7J to ilO per cent.; ecoureds rcie 2d. to'3d.,'finer,'sllpes Id., and coarser 'and feulties-lid. to Zd. higher; crossbred.lambs advanced 10 per-cent.! end merinos 5 per 'cent. •"

•The foiiowing-were .the prices, realised for tho fleece portion of the New Zealand clips named :-4"G.P.D., f,> top price 26id«. average price- 25& d.; "Cameron,' .' top 26d.. ,average 25d.; "W;8.," top 17id., ,avcrage 16id.'

Messrs/. Murray,'RobeTts, ;and Co., Ltd., yesterday received the following cablegram from their London friends, Messrs. Sandereon, Murray, and Co., London,-under da/te November 18:—"Tho wool salo« have.closed firm at the highest point; 22,000 bales held over. ' • !; ' "Sheepskins:. Merino combing nave advanced 3d. to Id:; cro€sbred combing, advanced Id.' to lid.; three-quarter-wool. Jd. to ; 2d.; short and shorn/wools unchanged:" The New' Zealand Loan and Mercantile "Agency Company, . Limited, have received the cablegram-'from their London houM, under 1 date-'November' 18:—"Wool: Sales closed firm with a' strong market. As'compared with, values ruling- at .October i merino inferior: is higher.' by/ 5 per cent, to 7i per cent.; scoured-• superior and me"dium, pat to 5 per lambs,pet; cent.; •scoured crosshrcdVgteasy''flhe'. 10 per cent, to 15 per cent.; plipe, 5 per. cent.' to 7J cent.; greasy, lambs,. 7V ,to .10 per cent. ; I ."Sheepskins: I .Combine, have'advanced Id., i and clothing Jd". per lb."

SHEEPSKINS'SALE. |S By •relejtrapb--Press ,\*>'><.ji"ion--Copyriglit' (Eec. November 19, 9.30 p.m.) London, November 18. At' the- sheepskins sale tic re was a. rood attendance and fair competition. Good combing merinos of good length advanced a periny,- good combing halfbreds a halfpenny, good combing crofsbreds & penny, and short croßsbreds a halfpenny..- -Faulty shorn crossbreds were neglected,, and short shorn merinos were unchanged and in poor demand. . VICTORIAN PRODUCE MARKET. ' • Melbourne,-November 19.. ' Fl.our," £i 5; oats, Chilian 3s. 6d. to 3s. 7d., Japanese 2s. 10d.~td 2s. ltitf.; maize. whit« <a. 10d. to 55.. red ss. 3d.; bran. £4; pollard. £6; potatoes. £7 10s. to £12: Gippslnnd, £4' to'£sfonions, £2 10s. to £3 55..

BANK OF ENGLAND RETURN. (By Telegraph.—Press Assn.—Copyright.) (Rec. November 19, 8.40 p.m.) London, November 18. Tho Bank of England return issued for tho week ended Wednesday, November 10th, is as under:— Issoe Department. Note Issue £71,826,000 Gov. debt ... £11,015.000 Other securities 7,434,000 . GoUV 53,413,000 i.71,862,000 £71,662,000 • Banking Department. Proprietors' Gov.securii capital • 553,000 ties £18,505,000 ' Public de- Other securiposits ... G0,182,000 ties 101,761,000 I Other de- , posits ... 01,676,000 Kotos 38,848.000 1 Rest, 7-day and other bills ... 3,251,000 Coin 158.C00 £159,662,0Q0 £159,662,003 The leading items of tho Bank of England return afford the following comparison Tbisweek Last week Lastyear £ £ £ Bullion ...• ... 53,413.000 55.1fr2.000 72.018,000 Reserve ... 39.C06.00;) 40,603.000 55.707,000 Koto Circulation 33.014.000 33,109.000 35,313,000 Public Deposits 50,isi0u0 48.058.0C0 lti.2BG.ooo' Other Deposits 91,676.000 00,415.000 147,653,000 Proportion of rcson-o to liabilities 27.40 29.13 84.01 GOVERNMENT SECURITIES. Tha following are the latest quotations for Colonial Government securities in comparison with those ruling last week:—

MONEX' MARKET. Tho Bcunk of England discount rate was on January 2, '1914, reduced from 5 to 4J per cent., on January 2Z it was reduced to 4 per cent., and on January 28 3 per cent. On July 30 the rate woe raised to 4 per cent., and on July 31 it was raised to 8 per cent., and on August 1 it was further advanced to 10 per cent. On August 6 the rate was Toduced to 6 per cent., on August 7 it was further reduccd to 5 per cent., at which rate it. now stand*. The Bank of France rate is 5 per cent., as againet 4 per cent, prior to tho "war. OPEN MARKET RATE. The open market discount rate for three months' bills is SJ. per cent., as compared with 4g per cent, last week, and 4'3-8 per cent, last year. • • Short loans axe quoted at 4 £«8 per cent., as against 4 3-8 per cent, last week, and 1J per cent, last yoar. . ■ COLONIAL AND OTHER PRODUCE. Wheat is dull-'on lorver American <md Canadian advices. • FWr is firm at full prices. • Oats are dull i? and' easier. - . - La' . Plata, November-December shipment, 295.-,9d.r Peas aad beans - are firm and .unchanged. Sugar Is firm and ! unchanged; • Butter.—Finest; quality, '.is very- firm; secondaries 'aro' neglected. Danish is quoted at about 17<e. The Otakt'a New Zealand butter arrived'in excellent condition., and realised 1625. to 1645.

Cheese is,,firm. Canadian is quoted at 88s:- to 90s. j and the same is being asked for the, Rimutaka's shipment, due early in December. ■'Bradford Topfl.— r Hio market is strong. The current quotations are as follow:— Sixty-fours, 38M:: super sixties, 37Jd>, common sixties. . 36Jd.: fitty-sixes, 34d.; fifty's, 305.; forty-sixes, 26Jd.; forties, 24Jd. THE METAL MARKETS. ' Copper.—On 6pot, £70 15s. per ton; three months, £79 10s.;, electrolytic.. £94.,.. .. .. Tin.—On spot,"-'£l73"'ss. pei?, ton' thre« months; £172'5a. •■ ' ' "" ' '' Pip-iron,i3 quotod at 70s. 4d. per ton." , Lead.—Soft foreirm. 6pot £26 10a. per ton, future delivery £Zs"2s. id. Silver.—Bar silver is quoted at 24 13-16 d. per ounce standard.

Variation • ' stock. Pric , «-x»S ■ t last week. £ 9. d. 2J% Imperial Consols 66 0 0 Unchanged 4 ,.N.S."W,1933Jan.-July 05 0 0 Unchanged 34 05 7 6 Unchanged 8& „N.SAV. Early Curr 63 5 0 Unchanged 3 1925 Apl.-Oct 78 0 0 Unchanged i „Vic. 1920Jan.-Ju)y • 05 10 0 Unchanged 3i „Vic. 1921-1) Jan.-Ouly 01 5 0 Unchanged • 3 „Yic. 19*29-49Jan.«July 76 0 U Unchanged Si „B«A. 1916 Jani-July • 65 6 0 Unchanged 3 ,.8.A. li)l(i.Jan.-July • 70 2 6 Unchanged i „QTdl915-'24 Jan.-July 95 2 6 Unchauge* 3i „QTdl922-47Jan.-July 01-5 0 '2/6 lower 3 ..Q'l'dlOftMTJan.-July .71 10 0 Unchanged i "N.Z. 1929 May-Nov. -95 13'- 1/3 higher 3J "N.Z. 1912-40 JaaJly 83 5 0 . Unchanged 3 "N-Z. 1920 April-Oct . 76 .0 0 Unchanged 35 , 'W.A.1915-35M'y-N'v 67 10 0 5s lower. 3 "W.A. 1915-35 M'y-Nov '' 62 0 0 Unchanged 35 "Taa 1920 Jon-July . 6o 7 6 Unchanged 8 "Ta3 1920-40; Jan-July 76 .1 3 Unchanged