COMMERCIAL ITEMS

Dominion, Volume 9, Issue 2711, 4 March 1916, Page 8

COMMERCIAL ITEMS

. 'investment shares. ' < ANo business. was dona in. the investment market yesterday. . The Quotations ivere as follow:— * r\ Buyers. Sellers. V ' " T ' £e. d. - £s. d. i-.; National Bank 50 0 - — '"•'■■i: Well. Trust, Loan, I/td. 7 10 Gisborne Gas 112 0. — r -- - Napier Gas (£5) 715 0 '810 0 ' Well. Meat Ex. (£2l2s. 6d.) 216 o — : . N.Z. Shipping (ord.) 19 15 .0. - — •• Union Steam (ord.) —' ■ .17 3 ;- , Well. Woollen (ord.) 52 6. - i I Well. Woollen (pref.) ...... 3; 7 i — WaipH, Coal : -.0 18 I) —- Taupiri Goal 012 9 ,S 13 3 N.Z. Consol. Dental ......... 1 0 0 ■ — . \ N.Z. l)rug 2 5 0 — GoMen Bay Oemont 019 3 110 SSiarland lord.). 14 6. — Bharland (pref.) 1 4 6 — MAB-KET K-EPOET. .The outstanding" feature of : the local market diirlng tho. past week has been . the exceptional supplies of tomatoes offering, daily, causing , a glut.- Prices of this line are the lowest, for- some seasons. • Stone fruits are scarce, but supplies of ' v . : ; • apples and 'pears are equal to the demand.t J:' . The Karotoiigan , bananas, ex Moana; ar-'. : : rived, in first-class condition, but the seme > V cannot be said of the. Fiji shipment to hand yesterday. : Vegetables are in' good supply,, without much variation since last ' reporting.' - Potatoes and onions, also fresh eggs, are easier. Yesterday's' approximate . values, are:—.lsland oranges,. 12s. 6d. to, 13s. v 6d.i Barotongan banauas, Us. to 155.; Fiji bananas,,l2s. t0.135.; American lemons, 165.;-Cape gooseberries,'sd. to 6d. per lb.; grapes, 9d. to Is. per lb.; pineapples, 10s. to 13s. per case; watermelons, Is.-to 2e. 3d. eich; dessert apples, ss.- to Bs. 64. per case; cooking apples, Js. to 4s. per case; : dessert pears, ss. to Bs. 6d. per, caso; cooki . . ing pears, 45.,3 d. to,ss. per case; quinces, 4s. to 4s. 6ii. per case; tomatoes, Is. to Is. 9d. per-half-case. ■ . Vegetables: Cabbages,. 4s; to- <s. '.64. per sack; cauliflowers, 4s. to ss. per sack"; - carrots, 4s. 6d. to ss. per sack; parsnips, 7s. .to Bs. per. sack; tumip'e, 3s. to 4s. per , '-,1 "Back; .beetroot, 3s. to 3s. 9d. per sack; ■ swedes, 4s. to 4s. 6d. per crate; marrows, ■ ss. to 3s.' 9d. per sack; pumpkins, 6s. to 6s. 6d. per sack; peas, ss. to Bs." per partsack; boans, 3s. to 4s. pel part-sack; cucumbers, Is. 6d. per half-case; rhubarb, - ' 4s. to ss. per dozen; potatoes, £7 to £3 10s, per toil; onions, fA 10s. to £5. ■ : liesh eggs, Is. sd. per dozen..

WHOLESALE PHODUOE PRIDES. Messrs. Laery and Co., Ltd., Allen Street, report wholesale prices as follow siFowls' r wlieat, prime, 65.; fowls barley, 4s 6(1.; Capo barley, 4sj. 9d.; feed peas, prime ss; 6d„ good ss. 3d.; partridge peas, 6s. Bd.:' inaizo feed fe. 6d.. seed 65.; oatensheaf chaff, £6 10s.; oaten straw chaff, <s, per sack; meadow hay, £4 lCs.; flout, in sacks, £13 10s.; oatmeal, £20; bran, ss. j pollard. £7 155.; rice pollard, £7 10s.; rice meal, ils; onions, £t; potatoes, £9; bacon, sides-lid., rolls 12id.,. hams Is., shoulders 10d.* cheese, medium, B.\d.; linseed. nuts, 13s: 6d. Customs duty collected .at tho port of Wellington yesterday amounted to £2669 .IBs. 7d. ' ' - ' HIDE AND SKIN SALE. "Messrs. Balgety and Co., Ltd., report as follows :-After a lapse of some four weeks we resumed our usual fortuightly sale of sheepskins, hides, etc., yesterday, and submitted to a full attendance of buyers tho following catalogue:—l3o .fadges and < 250 bags wool, 4500 sheepskins, and-500 hides. Bidding was well sustained for most lines, and practically everything was sold under the hammer at: satisfactory figures. In comparison w ; ith our last sale on February 4, the comparison of prices shows a. decrease all round, and. .is practically summed up as follows:—Full-woollcd sfteopskins of good quality, .a. decline of .Ild. to 2d. per lh.short and. inferior lines, from par to id. per lb. lower; good texture and sound'hides of all weights, declined from id; to lid. per lb., but the • drop was most noticeable with the prohibited shipnamt weights. The lowered prices . for sheepskins is accounted for. with the corresponding decline in London,'and the restricted competition for hides, through the recent embargo placed -on oversea shipments, is keeping thoir values down to such an extent that, for-the present we deem it necessary to hold over some of our best lines. 'The New Zealand Loan and Mercantile ; Agency Company report:—Yesterday's sale was. well attended by buyers, and a month's accumulation of skins, hides, etc., was' offered. ; In sympathy with the fall in Opnccs. at Current London wool sales values here for bag wool and sheepskins showed a dccided drop—fully Id. per lb. Owing.to the embargo on export of heavy, hides, prices for these grades were lower by Id. to'lid.: per lb. Light hides wer© not so seriously affected. Messrs. Abraham and Williams, Ltd., report as follows:—We offered a irooa catalogue of all classes of produce. Prices for woolly skins were lower by lid. to 2d. per lb., but there -was keen competition. for salted, and these maintained last sale's prices. Owing to the embargo on hides the best bids forthcoming were the fixed prices of lOd. for ox hides and 9d. for cows. - Messrs. Murray, Roberts, . and Co. report:—At our sale yesterday we offered a catalogue of 35C0 sheepskins, and about 1000' hides and calfskins. • There was a large attendance of buyers; prices for *• sheepskins wero firm for short wools, but declined to tho extent of 3d. for woolly sheepskins, the bulk of which, however, arenow coming in in inferior ' condition) being from back-country farms. The market for hides suffered a sharp decline, due undoubtedly to the decree prohibiting the export of hides of 451b. and over, -the decline being from. id. to 3d. per lb. for cows, and from £d. to lid. for ox hides, heavy hides 'suffering tho greatest decline. Messrs, Leviu and Company report on the hide and skin sale held yesterday as follows Sheepskins: Market easier, otting lower range in London and absence of i special orders from America. Prices I about Id. dowu. Hides: The full effects of ■ the embargo on the export of hides • over 44ib. in .weight was felt yesterday, tanners, not, operating above the minimum price, fixed by the Government. Prices came down on heavy ox, l£d. on medium, and £d. on ox and cows. Other classes, were easier in sympathy. Wool: Nothing was offered except a few odd fadges. Wool is being held for the next .sale. . • . ' The United Farmers' Co-operative Association, Ltd., and the Wairarapa Farmers' Co-operative Association, Ltd., report as follows:—Fortuight sale,of sheepskins, hides, tallow, etc., were held yesteraay. ' Prices ruled as follow.:—Sheepskins: Kne crossbred, to llld.; medium-coanso crossbred, lCd.'to.lid.; short to half-wools, 6d. to 9£d.; dead and damaged crossbred, Bd. to 10a.; inferior and badly damaged, Zd.-, to, 7d.;.lambs, 9d.-to 103 di; damp, salted, and'green, Is; 7d. to Bs. ICd.; pelts, 2s. 4d. to ss. lid. Hides: Ox, heavy, 601b. up,-10d.; ox. medium, 50-591b„ 9gd. to 10d.; ox, light, 491b. and under, Bgd. to 9d.; cow, heavy, l 551b. and over, 81d. Vo 9d.; cow, medium, 1 421b. to 541b., BJd.-to 83d.cow, light, under 421b., 7?d. to 8!d.; cow, slippy and inferior, to S.id.; bull. stag. 4Jd. to 6Jd;; year- i lings, 16ib. to 241b., 73d. to Bd.'; calf,-! superior, ,up * to 161b.. 9d. to 9?d.; calf, medium to good. Bid. to 9?d.; calf, damaged. 3d. to Bid. Tallow: In casks, '235. to 295.; in ,tins, etc., 16s. to 245. 6d. Sundries: Cowtails, Is. to Is. 2d. .SOUTHERN MARKETS. • By Telegraph—Press Association. Christchurch, March 3. The wheat market is in a very unsatisfactory state, and both sellers and, buyers would like to see it more stable. A, fairly large quantity is offering, but there are few buyers, sales being made as low as 4s. 2d. at "country stations; 4s. 3d, is said to be the outside price now offered. Tho threshing returns are now anxiously awaited, as these may disclose a different statistical position than the Department's preliminary estimate. In view of the fact that only 2s. 6d. is being offered on trucks to growers in Southland for oats, the local market is easier. Gartons brought 2s. Ed., though A Grade would bring a little more. • Oatsheaf chaff is firmer on account of the scarcity of offerings, and very little forward business has yet been done. Potatoes—£s to £5 10s. is being offered for* forward, delivery, and £6 for immediate •requirements. - • • Cape barley and rye corn are easier; prime malting barley is in request up to ss. 6d. Onions—Best offer, 45b. . .

FROZEN MEAT MARKET. Mcsßrs, Gilbert Anderson and Co. (Messrs Mcllsop, Eliott, and Co., Palmcrstou J»orth, local agents), report on the frozen meat markot, under'dated London January, 7, as follows:— . i Home-grown: High prices prevailing have attracted 1820 tons more British meat this week than last, resulting in a difficulty to clear except at a reduction, pork being the chief sufferer at a 2Jd. fall, but beef holding its own. Frozen mutton: Notwithstanding the unprecedented- shortage of all classes of mutton, there are 6till sellers of New Zealaud ewes at 6sd., while 7d. can ba obtained with the utmost ease. Unfortunately the public docs not receive tho benelit of the lower price, tho buyer making the same price as for the 7d. ones. South American stocks are exhausted meantime, and there aro no Australians. Frozen lamb: Stocks consist almost entirely of Canterbury lambs, and thesa vary a lot in the ecllinf? price, the difference being as much as gd. Trade has been good, despite the increased Home supplies. Beef: Market very firm, but expected, to be dearer next week, no South American boat being due. Stall-holders selling frozen pork instead of beef. LONDON WOOL SALES. By Telograph—Press Association—Copyright London, March 2. At the wool sales bidding*was hesitant, prices irregular, and Withdrawals fR? iiuent. . . • The following prices were realised tor the fleece-portions of the clips named:— "Manuka:," top 38id.. average 37§d.; "Wooleen," 17£ d. and 16£ d.; "Goonoo," 22d. aud 21|d.f "Terrick," 37d»- and 35Jd. New Zealand:—'"Omapere," 19£ d. and 19d.; "B-ankhouse,". 18Jd. and;lßd. Messrs. Murray, Roberts, and Co., Ltd., have received a cablegram from their London friends, Messrs. Sanderson, Murray, and Co., under date March 2, fl<3 follows:—"Wool, market irregular, compared with last sale's closing rates, greasy merino lias declined 5 per cent M< faulty 5 per cent, to 10 per cent. Sheepskins, short and shorn, have advanced id.; . merino 1 combing unchanged; full-woolled skins declined 3d." SHEEPSKINS SALE. By Telegraph—Press Association—Copyright London, March .2. At the sheepskin sales 19C0 Australasian were catalogued and all sold. There was an average attendance and fair competition. Prices for merino t combings were unchanged, crossbreds deulined a' farthing, merino crossbred clothinge advanced a farthing, and lambs advanced a farthing. The New Zealand Loan end Mercantile Agency Company, Limited, have ' received the following cablegram from their London house, under date March 2:—Sheepskins: Combing, id. lower; others, 3d. higher. AMERICAN WHEAT. London, March 2. The American visible wheat supply is 156,954,1)00 bushels. VICTORIAN PRODUCE MARKET. Melbournei March 3. Bran, 4s. lOd.; pollard. '55.; barley, English 4s. to 4s. 3d., Chevalier 4s. 6d., Cane 3s.' to*3s. 3d.: oats, Algerian, milling 2s. Ud. to 2s. 3Jd., feeding 2a. to lid.; maize, :6s. 9d.; -potatoes, £9 to £10; onions, £4 ' to £4 ss. BANK OF ENGLAND RETURN. By ToTegraph—Preea Association—Copyright | (Reo. March 3, 8 p.m.) London, March 2. The Bank of England return issued for the week ended Wednesday, March 1, is as under:— • Issue Department. Note Issue £73*684,C00 Gov. debt ... £11,015,000 Other fjecuri- . ties 7,434,000 Gold .... ... , 55,235,000 i' 73,654,000 ' £73,634,000 Banking Department. Proprietors' Gov. securicapital £14,653,000 ties £32,839,000 Public do- ' Other securiposits ... 50,631,000 ties 96,843,000 Other deposits ...102,018,000 Notes 40,378,000 Rest. 7-day end other bills ... 3,733,000 Coin 875.C00 £170,935,000 . £170.935,000 The loading items of the Bank of England return afford the following compandor.:— Thisweok Last week Lastyear £ £ £ Bullion ... ... 55.-235.C00 54,216.000 59.516.0C0 Reservo ... 41.253.000 40.020.C0l) 43.9C0.0D0 Note Circulation 33.306.000 32,508.000 34,533.000 Public Deposits 50.631.0U0 53,620.000 61,872,01i0 Other Deposits. 102,018.000 [1(5,304,000 iia.W2.UOO Proportion of reservo to .... liabilities 27.02 _ 27.46 25.71 • GOVERNMENT SECURITIES. Tho following are the latest quotations for Colonial Government securities in comparison with those ruling last week:— Variation ~ , compared •Stock, Pricc< last wook. • £ 5. d. 2J% Imperial Consols 07 7 6 17/6 lower 3i,, War Loan. Wls 0 7,6 lower 44,, War Loan 97 0 0 5s lower 4 ,N.5.W.1933Jau.-Jnly 8-1 5 0 2/6 lower ij ~N.5.W.1930-ooiMr.-Sp 05 5 0 2/6 lower 3& >,N.S.W. Early Curr 70 2 6 32/6 lower 3 ~N .S. Vf. 1925 Apl.-Oct 70 15 U 15s lower 4 „ Vic. 1920 Jan.-July 24 0 0 2/6 lower 3i „Vic. 1921-6 Jan.-July 64 10 0 20s lower 3 „Vic.1929-49Jan.-July 62 0 0 15b-lower 3J „S,Ai 1916 Jan.-July 73 0 0 20s lower 3 ~S. A. 1916 Jan.-July 5B 2 6 12/ti lower , 4 „QTdKUS-24 Jan.-July 89 5 0 15s lower . 3i „Q'rdl922-47Jan.-July BO 0 0 2/6 lower 3 M Q'rdl922.47Jan.Ouly BIS 15'0 oslower . 4 "N.Z. 1029 May-Nov- 67 7 0 7/6 lower 1 34 "K.Z. M2-10.Jati.Jly 72 15 0 12/Blowor 3 "N-Z. 1920 April-OcG* 6'-! 15 0 403 lower 34 I, \V.A.IOIMSM'y-N , v V 6 lo 0 2/olower ' 3 "W A, 1010-35 M'y-Nov 70 5 0 106 lower ' ai "Tas 1020 Jan-July K2 6 33/6 lovror 3 "Tas 11)20-40 Jan-July 65 0 0 Unchanfe MONEY MARKET. Tho Bank of England discount rate was ,ou Januuiy 2, 1914, reduccd lrom 5 to 4j per cent., on January 22 it was reduccd to 4 li:ir and on January 28 3 per tcni On July 30 Iho rate was raised to 4 lie: cent., and on July 31 it was raised to f per cent., and on August 1 it was furthei advanced. Vo 10 per. cent. On August 6 the rate was reduccd to 6 per cent., on August 7 it was further reduced to. 5 per cent., ut which rate it now stands. The Bank of France rate is S per cent., as against 4 per cent, prior to the war. OPEN MARKET BATE. ■ , The open market discount rate for three months' bills is 41-16 per cent., as compared with- 5J per cent. Isjst week and ljj per cent, last year. 1 Short loans are quoted at 4J per cent., as against 4J per cent, iast week, and i per cent. last year. COLONIAL AND OTHER PRODUCE. Wheat—The market is quiet, and prices unchanged. Flour.—Market firm. Oats—A dull market. La Plata. Febru-ary-March, 325. Butter is very firm. , Dani6h, 1745. to 1785.; Australian, 1565. to 1585.; secoudary, ISfls.- to 1545.; unsalted, 1625.; New Zealand, 1625. to 1645.; secondary, 1565. to 1585.; unsalted,' 1685.; Argentine, 1465. to 1525.; unsalted, 160s. Cheese is firm. Canadian, 30s. to 1025.i New Zealand, white 965. to. 975., coloured 975. to 98s. ■Sugar.—The. market is firm. American granulated is quoted at 37e. Bradford Tops—ln the top market there is email busineoe doing. The quotations are :-Sixty-f ours, 4<ld.; super sixties, 43d.; common sixties, 425.; fifty-sixes, 395.; fifties, 33d.; forty-sixee, 32£ d.; forties, 27Jd. Topmakers are confident prices will rccovcr. METAL MARKETS. . Bar silver is quoted at 27 l-16d. per ounce standard. Tin.—On tho spot, £185 ss. to £185 10s.; three months, £185 lCs. to £185 15s. _ Copper.-Supplies, 32,818 tons; deliveries: 33,730 tons; stocks, 9811; afloat, 4500; visible supply, 21,734.