COMMERCIAL ITEMS

Dominion, Volume 9, Issue 2781, 27 May 1916, Page 10

COMMERCIAL ITEMS

INVESTMENT SHARES. The quotations recorded yesterday for investment shares were a-s under:— Buyer*. Sellers. &a. d. £b. d. Union Bank — 56 0 0 National Mortgage 3 17 6 319 6 Loan and Mercantile (ord.) 80 5 0 — Well. J£eat Export (£1)... 4 7 0 — Shipping' lord.)2A 0 0 » — Union Steam (ord.) ...... 113 6 — HuddattrParker (ord.) ... — 15 0 Well. Woollen (ord.). 5 16 6 — Well. Woollen (pref.) '3 11 0 — Waipa. Coal . 0 18 0 — # Westporfc Goal : 1 / 8 9 1.10 0 Westport-Stockton 0 5 9 . — fLeyland-O'Brien 1' 1 6 — Ward and Oo — 5 19 0 Manning and Co 4 12 0 — Consol. Dental ... 1 1 6 13 0 N.Z. Drug 2 5 0 - Golden 13ay Cement 12.0 — Whitcombc and Tombs... 6 5 0 — *Oum div.' • tßx di 7. Customs duty collected at the port of Wellington yesterday amounted to, £3827 19s. 3d. THE COLONIAL /MUTUAL LIFE OFFICE. ,Mr. P. D, Leslie, the resident secretary for New Zealand of the Colonial Mutual Life Office, has received advice from his head office in Melbourne that the annual report submitted to the meeting of policyholders on. Wednesday last shows, that the society'lias had a remarkably prosperous year.- The outstanding fea-ture of the re- • port is the substantial bonuses declared for .last year. / The rate of .bonus allotted to whole life and endowment assurance policies is/£1 10s. for, each £100 assured; and. on pure endowments the rate Is £1 for each >£100 assured. . The surplus for the year is £176,406, of which £95,855 is applied towards payment of the bonus for last year; £38,963 -will be carried/ forward for future distribution among policies with deferred participtation in profits;' and the balance of £41,588 will be carried forward unappropriated. Although large numbers of the eociety's members are in the firing-line, the death •claims for the year 1915 are practically the same as/for tho previous year. N.Z. CONSOLIDATED DENTAL CO., LTD. .The eighteenth annual meeting of the New Zealand Consolidated Dental Co., Ltd., /was held last evening, when the directdrs' report and balance-sheet vrere adopted. The profit > and . loss account •showed, a balance of £4046 ss. 6d., -which it : was decided to apply as follows:—To payment of a dividend of 7/per cent., £2060 3s. 4d.; 2J per cent, bonus to holders of five or more chares at March 31, 1916, on their purchases for the year, £374- 2s. 10d.; reserve account (making same £6650), £500; *»HTr forward to next year, £1111.195. 3d.; total, £4046 ss. Sd. The retiring director (the Hon. J. G. W. Aitken) was again reelected, '-whilst. Mr. J. S. Mdoarthur was added to the board. The retiring auditors ' for xVuckland, Chri&tchurch, Dunedin, and Wellington were also re-elected.' WOOL, SKIN, AND HIDE SALES. The fortnightly sales of -wool, skin, and hides were held ;by the'various .brokers:— Messrs. Dalgety and Co., Ltd., report ; a' large attendance' of buyers and'keen'competition for all classes of produce, particularly tallow, -which made a sharp advance. Heavy hides -were/firm at late rates, but. cow and light-weights were slightly easier. The next fortnightly- sale will he held on June 9. All b.ale -wool and orutohings are being catalogued for the main sale on June 2. .

• Messrs. W. and 6. Turnbull and 0o„ Ltd.. report that prices for skins sie-rtd. a rise of id. to Jd. per lb. Ox slides ruled at par on last sale rates and cow hides advanced 3d.: to 3-M. per lb. Tallow appreciated in value 4s. to 4s. 6d. per cwt.

Messrs. Abraham and Williams, Ltd., report having offered a, large catalogue of all classes: of produce for which there was a. keen competition. Tallow showed an advance of'4s. to ss. per cwt. Salted

skins were in keen demand, and showed! a marked increase, while dry skins were/ quite a farthing dearer. The market for' oi hides was firm on last 6alo's rates, but; cowr, hides wero from Is. <d. to 3s. Bd. dearer.

.Messrs, Murray, Roberts, and Co. repoijfc that they offeree a catalogue of 3000 sheepekins, 500 hides and calfskins, besides a quantity of bag wool and oddments lof tallow, competition being animated. Prirjos for sheepskins showed a hardening tendency, hides sold at par to Jd. per lb. <ieclino in tho heavier sorts, medium hi'lea fairly maintaining l<i6t sale's rates. IJallow showed an advance of . 2s. to 3s. , per cwt. for tin (allow, and in casks ani advance of about £1 per ton. Tho New Zealand Farmers' Co-oparativo Distributing Co., Ltd., report that practically only bag wool was offered, and where clean and free from seed prices showed an advance on tho last fortnightly sale, crutcliings being especially in good demand. Tallow, lin tins, showed 'a sharp "ise of as much as 2s. and 3s. "per cwt. Super wool sheepskins showed [a- slight advance on last sale, and one oc 'two good lines oi half-woollcd skins were, .fully one Deuny dearer. Pelts also took a sharp rise, in some instances fully lj|d. dearer. Although tho competition for hides was good, there is no material change in values to report, the macket being steady. Messrs. Levin and Co. state that no wool was offered, except a few odd f'ldgcs, wool being held for the June • 2 tale. The sheepskins market was very ftrm, at Id. advance on all lines. Hides: were- firm and unchanged, and tallow wns firm. Sales were also held by the United Farmers' Co-operative Association and the Wairarapa Farmers' Co-operaJtive Association.

The range of prices was As (under:— Sheepskins; Halfbred. lld.j; fine crossbred, 10Jd. to ll?d.; medium to coarse crossbred, 93d. to 113 d.; short to half-wools B}d. to 10id.; dead and damaged crossbred, Bd. to 93d.; inferior and badly damaged, 2d. to 71d.; lambs, lljd. to 113 d.; damp, Ealted, and green. ?«. 6d. to 10s.: pelts, 3d. to 7id.; lambs, Edited, Is. 9d. to 7s. Hides: Ox, heavy, ,601b. Up, lid. to llZd.;. ox, medium, 50-591b., lOd. to 'il|d.; ox, light,. 491b. and under, 9Sd. to ltijd.; cow, heavy, 651b. and over, lOd. to 103(1.; cow, medium, 421b. to 541b., 9Jd. to 10Jd,.; cow, light, under 421b., 9|d. to 103 d.; cut, slippy, and inferior, 6d. to 10d.; bull, stag, 6Jd. to lOd.; yearlings, 161b. to .'241b., 7jd. to 9d.; calf, superior, up to 161b., 10id. to llld.; calf, damaged, 6d. to &'id.; calf, medium to good, 9d. to lid. Tallow: In casks, 29a. to 305.; in- tinß, etc., 275. to "295. 6d. Sundries: Rabbitskitf.s, 103 d.; opossum ekins, 3s. 3d. to 3s. cowtaile, Is. SOUTHBE-N/MARKETS. By Telegraph—Press Association. Ctoistchurch, May 26. There is no business to report in connection with the wheat market, which has been very quiet for the last few days. There is very little ofi.'ering, and the demand is only for prime milling, which isapparently gettin" scarce, at least it .is not coming forward. 7No local business is doing in oats, and vary little in oatsheaf ohaff. The potato market shows signs of a little more firmness. The quantity offering is not. large. For delivery at country stations, £4 10s. is offered, and for delivery'next month it is reported £4, 15s. is being given. , N.Z. LOAN ASIO ireEPANTILE. By Telegraph—Press . Association—Copyright (Eco. May 26, 8.15 p.m.) Londpn, May 25. The New Zealam/l Loan aud Mercantile Agency Company lias declared a dividend of 2$ per cent. APPLES. ,- London, May 25. Consignees of Iruit by tho Ulysses are claiming an aUqwance from the underwriters on, the ground of deterioration owing to the vessel stranding at Frementle. The apple market at Liverpool is slightly firmer. >, Three thousand cases of the Star of Victoria's shipment of Tasmanians brought 7s. 3d. to 9s. 9d.; a few New Yorks lis. Five thousand eight hundred < cases from Victoria, by Anchiees, brought 6s. 6d. to Bs. 3d., and 3000 South Australian, 7s. to 9s. 6d. The Barangei is being diverted to London to prevent congestion of apples in Liverpool. , BANK OB) ENGLAND RETURN. By Telegraph—Press Association—Copyright >-' (Rec.j May 2G, 8.15 p.m.) ~' London, May 25. The Bank of England return issued for the week ended May 2-1, is as under:— ISSUE DEPARTMENT. Note Issue iW.129.000 Gov. dobt .... £11,015.000 Other securities 7.434,000 Gold 68,630,000 : , £77,129,000 , £77,129,000 Bankinq Department. Proprietors' ' Gov.securicapital £11,553,000 ties £33,187,000 Public de- * Other'sccuripoßits ... 54,251,000 ties 76,447,000 Other de- , posits ... 61,405,000N0tes 42.356.000 Be6t, 7-day and other bills ... 3,161,000 Coin 1.353.000 £153,373,000 £153,373,000. The leading items of tho Bank of England return afford tie following comparison ;— This week Last week Lastyear Bullion 58,6801000 68,603,000 60.418.0c0 Heserve - 43.739,000 43.873,000 47,241,t»0 Note Circulation 34.743,000 34,671,000 32,947.000 Public Deposits 54,231.000 60.615,0C0 133,0tf1,000 Other Deposits 81,405.000 78,583,000 87,742,000 Proportion of 1 . reservo to liabilities 32,24 31.50 21.40 . GOVERNMENT SECURITIES. Tha following ar« the latest quotations for Colonial Gov€tr anient securities in comparison with those ruling last week:—

. i MONET MARKET. The Bank of En{*l and discount ra.te was on January 2, 19L4, reduced from 5 to 4 per cent., on January 22 it was rcduc<id to 4 per cent., and on January 28 3 per cent. On July 30 the wite was raised to 4 per cent., and. on 31 it was raised to 8 per cent., and. on August 1 it was further advanced to 10 per cent. On Augu&t 6 the rate was reduced to 6 per cent., on August 7 it was further reduced to 5 per cent., at which rate it now stands. The open market, discount rate for three months' bill? is 4 9-16 por cent., as compared with 4 9-16 per ccnt. last week and 2 13-16 per cent. last year. Short loans are quoted at 4 per cent., an against 4 per cout. lost week, and 2 por ccnt. last ycm*. COLONIAL AKD OTHER PRODUCE. Wheat is steadyj and quiet. Flour is weak. Australian, on 6pot, is quoted at 465. Peas and beans are firm and unchanged. f Oats are at a nominal pricc. Buttor.—Tho raairket is quiet, occasionally e, shade easier, owing to the favourable weather increasing the mako here and in France. The Ot'ontes cleared her Com» monwealth's cargo, making the late rates. Cheese.—Canadian, 110s.; New Zealand, 112s. to 1146., tfinding easier. A largo quantity of New. Zealand cheese is afloat, of which it is eupccted the trade will receive about hall!. There arc increasing supplies of Homo make, United States, and Canadian. Sugar is unchanged. Bradford Tops.—The market is etronp and unchanged, awaiting the opening of the London sales.

Never has the demand for clear-headed constructive thinking in business been bo urgent ns it is right now. Wo are living in a progressive ago, and must take advantago of nl! up-to-date methods. It is in savings from waste of any description that money is made to-day, and by concentrating one's efforts on all details of our business wo claim to be able to produce results for oiur many cream suppliers. Wo want mare cream. Can you supply us? Further particulars, Wanganui Fresh Food Co.—Advt. Wise dairymen will have their milking machine s overhauled at the cud of this season rather tliau at the beginning of next—idleness begets rust and complications.- Albert J. Vartou will put your machino in spic 3nd span order—expert work, reasonable charge! Albert J. Par'roke Streot. Carterton.—Advt.

/ ' Variation cfaipk comjwwa' btock Price. ■ with ' i last week. :£ 5. d. 21% Imperial Consols 57 1 6 2/6 higher 31 „ War Loan ' W 0 6 Sshiglior 45 „ War'Loan 95 5 0 7/6 higher 4 ■ ,.N.S.W.1933Jan.-July 85 10 0 17/Ghieher Si ,N.S.W.1920-50Mr,-Sp .OS. 6 3 1/3 hicher 34 „N-S.w. Early Curr 72 15 0 wis hicher 3 ,.N.S.W.19!!5Apl.-Oct 71 SO 10s higher 4 ,.Vic. 1920Jan.-July 95 IS 0 10s higher 34'„Vic. 1021-6 Jan.-July 84 15 0 7/6 higher 3 „Vic. lS?.9-49Jan.-July 63 5 0 5slowor 34 \,S.A. 1916 Jan.-July 73 7 6 3,6 hichar 3 ,.S.A. 1916 Jan.-July 69 12 6 10s higher 4 „Q'l'dl915-24Jan.-July 9115 0 10s hifiher 34 „CjTdl922-47Jan.-July 'HI 2 6 -j/s higher 3 „QTdl92&.47Jan.-July 64 10 0 15 S higher 4 "N.Z. 1929 May-Nov. 65 17 6 2/iihiehor 34 "N.Z- 1912-10 Jon.Jly 74 5 0 17/6 higher 3 "N-Z. 1920 April-Oct 64 10 0 Unchanged 34 '-W.A. 1915-35M'y-N'y 74 10 0 10s lower 3 "W A. 1915-35 M'y-Hov 69. 5 0 5s lower 3J "Tas 1920 Jan-July 72 10 0 Unchanged 3 "Tas 1920-40 Jap-July 63 10 0 Unchanged