COMMERCIAL ITEMS

Dominion, Volume 9, Issue 2632, 30 November 1915, Page 10

COMMERCIAL ITEMS

INVESTMENT SHAKES. There were no transactions in the investment market yesterday. The quotations were as follow:— Buyers. Sellers. £ s. d. £ s. d. National .Bank'..... 6 0 0 — Bank N.Z. U3 6s. Bd.) ... - 10 7 6 Bank N.Z. (£i> 13s. 4d.) ... - 16 11- 0 |-*Well. Trust, Loan, Ltd.... — 7 5 6 Napier Gas (£5) — 9 ,0 0 Well. Gas (£10) :.... 16 0 0 South British Insurance 4 14 .6 • — ;. Ohristchu-rch Meat 16 2 6 — Well. Meat Expqrt (£5) .. . 6 10 Well, Meat Export (£4) - 4 12 0 Well. Meat Export (525, 6d.) - 2 14 0 Dillon Steam (ord.) 15 0 — *We'stport Coal — 18 6 Golden Bay Cement — 10 3 1 *Es dividend. • Customs collected at tlio port of Wellington yesterday amounted to ££525 6s. 8(1. - •. . ' ; i ' BANK OP EGYPT. The i special arrangements whereby the notes of the National Bank of Egypt became, legal teniTeir at the commencement of the ,war are ' still operative. 'Under this scheme emergency, notes may be issued by the, bank on the security of 50 per cent, in gold, and the" balance by the deposit with the Government of Treasury bonds. Last year under this arrangement the-National. Hank note issue rose to about £8,500,C00, against £2,700,CC0 in 1913, subsequently contracting to £6,5001000 after the crops were harvested. "It-is expected that the require: ments-this season may reach £9,0C0,0C0, out thel amount- of gold that would be needeii to support such an issue will not make serious inroads on the stock of the Dank of England. In normal times all the money Teqnired to move the crops in Egypt 'fould be drawn from London, but in ex'■'ing conditions Telief, to the extent indicted, will be appreciated by that market. SOUTH AFR ICA'S "TRADE. An official summary of the trade of the South African- Union shows that during the finst eight. months of the current year imports from oversea countries represented £21,908,665, ao against £26,277,842 re.corded for the corresponding, portion of 1014. -Exports for-tho ■ same periods were £3,994,747 and £35,282,888 respectively, but the former-' aggregate does not include shipments of raw gold, the explanation being made that figures relating to that item will not b.e made available until the cessation, of international hostilities.. The importance of the statistical omission will be realised when it is mentioned that in the total for the January-August term of 1914' raw gold shipments accounted for a 'little more than .'66 per ceiit. Including specie, articles received for the Government and goods imported but subsequently re-exported from the Union, the aggregate value of inwards and outwards trade to the end of August in 1915 is stated at £37,992,135. (raw gold again being ' excluded [rom the calculation), whereas for the eight months of last year the value was £62,845,959, or, leaving out the. metal men-' tloned, £42, 277,122. The balance cf trade at the close of August, last, accordiug to the' figure's given, was adverse to the extent of £11,824,995, the disadvantage in

1914 having represented £10,278,562 oil the i same baslf. The probability ie, however, 1 that shipments of'gold would tJiie year, as last, turn the scale and leave tho advantage with the Union. THE METAL MARKETS. The "Metal uuiietin," dated October 8, states that it ia recognised that copper producers hold many strong cards, not the least of which is the increasing importance of America as a financial centre. There is no doubt whatever that production'is ahead of consumption, but it would require inspiration to forecast the action of producers in existing circumstances. Dealiic with the tin situation, this atobaority remarks that the feature of the market has been a eliarp demand from Ainerca. The buying was due to the circulation of reports emanating from New ifork that an export duty of 10 per cent, was to he imposed on all shipments of tinfrom Singapore and Penang. ''Bears" naturally covered. Responsibility for the tale is cast upon a leading New York dealer. Official circles in London claim to have no information whatever "on the subject, and cabled inquiries to the East have equally failed, to bring confirmation. There is, however, nothing inherently improoaole in ernch. a step being taken, especially as Ceylon has placed an export duty upon some of < her staple 'Commodities in order to provide revenue, and the contingency should not be overlooked. The forwarding of tin from Holland to Germany is understood to bo receiving the attention of Ijhe authorities. '■IjJg issue of October 12 stales that the prouaoic closing of the Panama Canal x for ,tJje rest of the year muat interfere with the arrivals of Bolivian ore in Liverpool. It will also hold up direct shipments of Straits • tin from tho East to New York, though shippers have been very slow to patronise the new route. As Tegards the present stock of Banka tin in the East, there is mid to be very little reason for l'eellng apprehensive on this score, because the stocks held in' Holland have practicI .ally disappeared. It is estimated that thej,stocks in the Dutch East Indies do not at 1 the present time exceed <OCO ton 3. While | this quantity look? pretty large on paper, it constitutes the entire dtock, for there is nothing now available in Holland, where the .accumulation has fallen, steadily from month to month all Uris year. Considerable business in lead seems to have been done for export in America, and negotiations are understood to be proceeding for the dispatch abroad of, further large quantities. TFfc pressure has been largely for near shipment in much the same. way that demand in the London market has been urgent in connection with Russian • inquiries.

HIGH COStMISS lON RE'S CABLED EEPORT.

The Department of Agriculture, Industries and commerce- has received the fol* lowing cablegram from the ILigli Commispjoner fcrr New Zealand, dated London, J«ovember 27. (Note: Quotations, unices otherwise specified, are average market prices on spot>,--Matt.—The market continues dull at lower prices except for ewes, for reasons already given during last week. Mutton.—Canterbury, 7d. per lb. for light* . weight; heavy-weight, 6gd. Thero ore only a few other brands than Canterbury avaiiable, and they are not quoted. -Ewes, a good demand, s?d. lamb— Canterbury, two's, 7*d. per lb.; heavy-weight fores,' 7d.; ©2cona-cks6 finality light-woight, 7{tl.; other brands than Canterbury, 7 3-Bd. for best cjuality lightweight; ordinary quality, 63d. Beef—New Zealand beef, eecond-class quality, hinds sid. ; fores,.43d.; chilled beef, a moderate supply; hinds, 7id.;'fores, 5Jd. Butter.—The market is firm, with a- good demand for best quality." Danish, market qrnet, but firm, per cwt., 178s. to 1625.; Siberian, 1235. to 1345.; Irish creamery, slippiles are decreasing, 158s. to 1645.; Australian, 158s. up to 1645.; good to fine, 1545. to 1565.; uusalted, 160s. to 1665.; Nciv Zealand, Otakl shipment, has already been sold, 162 a. to 1645. up to 1665.: good to fine, 158s. to 1605.; Argentine, 1665. to 1605.: unsalted, 160s. to 1665. :

.Cheese— 1 1-he 'merket is advancing stead--7' V^ n - an ' strong market, very little else offering, white and coloured, per cvrt., 90s; to 925.; English oheddar, lirm market, 965. to 100s.: Cheshire, 10£s. to 110s. for fine to finest: United States, a- good demand, Bm. torn; Siberian, a good demand, 80s. t0.825.; low grade, 785.; New Zealand, nothing offering. Hemp.—The market is rather quiet; Buyers are cautious. New Zeaiand, good fair, per ton, on spot, .£35 10s.: fair, £33 10s.; Manila, now graded fair, £42;. coarse, £34; January to March shipment: New Zealand,' Good fair, £35; fair, £33; Manila, new graded fair, £41 10s.; coarse, £33 106. The ?, u iE, ut ; om Manila for the week -was £5,C00 bales.

: Wheat.—Tlie market is steady, with an improved demand. Canadian, on 6'pot, per quarter, 565.; November to December shipment, 545.; Australian, to arrive in January, 60s. Oats.— The market is quiet, and prices arc slightly, weaker. ' Argentine, on opot, - per quarter,. 316.; November to December shipment, 30s. ' Wool.—The market is strong. . WHEAT AND FLOUJI. By Telegraph—Press Aspociation-Oopyrteht ' London, November 23. The wheat.market as firm. Australian is officially 6d. dearer. The wheat and flour afloat for the United Kingdom totals 1,890,C00 quarters; for $£i: on i. Inis , nt ' '2.480,000; Atlantic shipments, 807,000; Pacific, 86,000. The total shipments during the week amounted, to 1,120,000 Quarters, includimg 20,000 from JtasBia. PACIFIC CABLE BOARD. to, Ti '•» n i., Sy i noy ' November 29. .! The Pacifio Cable Board's receipts for io!j<SS ar ' 5, n< !L nE Jforcll 31 amounted- to £233.947, and tho expenses to £145,261. This is_ the first time a profit, lias been record?u - Annuity payments total £88,601, leaving £7915 to be made up by the Imperial and Dominion Governments.