COMMERCIAL ITEMS

Dominion, Volume 9, Issue 2818, 8 July 1916, Page 12

COMMERCIAL ITEMS

INYESTMENT : SHAEES;

Investment shares' prices on 'QhEingc yes- •' terday, wero as fpllow:— Bayers. Sellers. . ! : V. • • £ s. d. . £s.d. Well. Meat Export (£2 12s. 6do ....: - 3 2 6 .Union Steam (ord.) ...... 112 0 ' ■ .113.0 : Union Steam (pref.) ' 1 • 0 10 1 — tßaupiri Coal ; — 0 14 0 'Westport Coal • 18 3 —' Westportr-Stockton' 0 6 2 .0 6 5' Leyiand-O'Brien ............. 11 9 . tCnm rights.' i t Customs duty , collected at the port of Wellington . yesterday . amounted to £4101 18. 5d. : : ■ OROTOHIXG AND.HIDE SALES. -. : The fortnightly sales of wool, skins, and hides were held yesterday by the /various ■ brokers, also the 6econd.:orutching sale of ■ the'season, -r- . . , Messrs. Dalgety.' and Company, Limited, . report having held the second of the ; : special winter crutching and wool sales • yesterday, and, <• in conjunction with this, the usual fortnightly offerings of sheep-, skins, hides, tallow, .etc., wcrro'also dub- ■ mitted. Owing to the postponement of the . main wool sales, the bulk of the Homo • buyers hive decided to remitin in the Dominion throughout; the year, instead of returning as usual during our' winter V months. Tho. buying, strength was "consequently /even stronger, than usual for these sdles. Tho- catalogue consisted of 1230 bales of wool and crutohings, out of a total offering of about 4000 bales, and'was prac-

tically all sold under the hammer, with the exception of very seedy parcels, which remain almost unsaleable. Prices generally wero well maiataind, but super crutchings wero a shade. easier. Lambs' wool was kceuly competed for, and wo obtained, 15£ d. for a'modiuru parccl from the West Ooast. iSome notable realisations wero as follows:—Crutchings: 14Jd„ T. Maher, Porirua; 14d., W. H. Booth, Carterton; 13jd., 11. V. Hammond, Makirikiri; 13} d., Bradley Bros.. Euanui, T. E. Baircr, Te rt'harau; 13Jd., H. T. Hume, Aohauga, Grace Bros., Gladstone; 13d„ L.- and F. Percy, Alfredton, H..A. Lambert, Wanganui, Cox and Gunning, Waterfalls, Oruamatua Station, '■ Moar whango, F. J. and It. G. Eussell, Eaumal. Lambs: liid., S. Williamson, . Waituna West; 15d., X. Kirkcaldie, Levin. The range of prices was as follow:—Fine crossbred, lSd. to lfijd.; medium to coarse crossbred, 14d. to 15jd.; picces and bellies, 7d. to lOid.: locks and.stained' pieces, 4d. to 7Jd.; crutchings, superior, 13Jd.. to 14id.; crutchings, medium to>good, lZd. to-13Jd.; crutchings, Eoedy end inferior, 3d. to Bd.; lambs, ud. to lfijd.; doad. fid. to 13d. - All other classes of ptoduce sold satisfactorily .at late rates, sheepskins in particular being keenly competed for. Clients : are recommended, to take advantage •of present high values by forwarding their consignments at earliest opportunity. . Messrs. Wright, Stephenson, and Co., Ltd. (late W. and G. Turnbiill and Co., Ltd.), Teport that competition for better classes was good throughout tho sale. Seedy lots wero difficult to dispose of. Prices as compared with last sale for crutchings showed a drop of from Jd. to Jd. : Sheepskins were about id.' better. Hides 6howed a drop of id. Tallow was Is. fid. to 2s. pei' cwty in buyers' favour. Some of tho best prices realised for crutchings were':— GWB, 13Sd.; JT/'M, 123 d.; JH/AHUNUI. 13d.; HK/OHAEIU, 13Jd.; HUANGAKUA, 12Jd; OTAEAIA, 12{d.; VEBMONT, 12d.; NGATABAHANGA, 13jd.; KOROMIKO, 141 d. Messrs.' Abraham and Williams, • Ltd., report a large catalogue of all classes of produce, including 311 bales crutohings and fleece wool. The competition was keen for all lots, and skins showed a slight, increase on last sale's rates..' Ox hides wero on a par with last rates,hut cow hides were down about Jd. ,to id. per lb. Tallow was also a. littlo lower' than at tho previous sale. Crutchings sold at about id; to id. lower .than, at the June 2 sale, seedy lambs met with the usual,unspirited competition, and most of the lots were passed in, thero being no bid. .',•■■. ■ ' The , Wairarapa Farmers'. Co-operative Association, Ltd., and the United Farmers' Co-operative' Association, Ltd., report:—The second: sale of crutohings was held yesterday. There wa6 e Xairf attendance of buyers, but bidding varied, lines of good crutchings and fleece wool soiling reaiaily, whilst anything : seedy or inferior^was neglected. We. were the last on the list on this occasion, and on tho whole obtained' satisfactory -prices considering the state' of the market. ' The following are some of tho prices realised:—JP over TABATA, crutchings, 12d.; OBP over HUTINGA,. 14d.-; WJS, 121 d;; Hi over NGAWAJttA, 123<L; WILLOW PAKE, 121 d.';' HB over BENT "WATEE, 13ad.;.TEE, IMd.; M over A, 7id., 9}d.; WT over IULAraEL, lid. Messrs, Levin and Company, Limited, report:—At the wool Eale yesterday wo ottered £00 bales. There was an excellent' attendance, .and bidding was been. Fleece wool sold fully up to values obtained at the sale on June 2. Crutchings wero rather easier. Fine and medium crutchings were vory little under June .values, but coarso were down fully Id. Seedy crutchings were neglected. Tho Eale was held, as recent sales have been, under an indefinite prompt, but it is anticipated that the -wool will bo cleared within ono month. Crossbred, fiue,'lsd. to crossbred, medium to coarse,'l4d. to 16Jd.; pieces and bellies, 7d. to IOJd.; locks and stained picces, -4d. to 7id.; crutchings, superior, 13id. to 14id.; crutchings, medium to good. 12d. to 13jd.; crutchings, seedy and inferior, 3d. to Bd.; lambs, lid. to 15jd.; dead, Bd. to 13d.

Tho sheepskins market was very firm. Or hides wero unchanged,- cows lover by id., and calfskins fell the, 2id. which thej rose last solo. •

Tho New Zoaland Loan and Mercantile Agency Company, Limited, report:—Tho sccond crutohings sale took place in conjunction with tho ordinary hide and skin sale. , Buyers competed eagerly for all lot*?, with theexcepton of very seedy wool. Sheepskins sold at. level of last rates, but hides wero slightly lower, as also was tallow. Our wool catalogued comprised 587 bales, of which about 350 wore crutchings, the .bulk of which were sold at prices ranging from IOJd. to WJd. Wo ottered a good many lots of seedy lambs, and for these there was practically no demand— 3d. to Bd. per lb; being about ruling prices. There, was .a demand for crossbred free of . 'seed,-at priccs slightly in excess of'last. sale's ; rates. Some of our principal sales 'w'cre as follow:—Crutohings:' a end S, lljd- to 123 d.; EJTi, 12id.; TO, 12d. to-14Jd.; BELMONT, 13id.; WAKARUA, 10d. to 132 d.; GLENVIEW, lid. to 12d.; TU■TRUMITIU, lljd. to 14id.; HANNAHS, 131 d.; PUKETIRA, 13d.; 10, 12Jd-; KL, 12Jd.; Z, 12d.-; PRESTON HILL, 12Jd.; OPABA over RTB, 11 id.; TUAPU, Hid.; SANTOFT, IOJd. to 12Jd. ■" Crossbred: MOAWHANGO over O, 14Jd.; G.V.P., 15d.; li-JF, 133 d.; WGD, MJd.; II and S, Mid.; W over AG, 14d. Lainbs: WAiL, 14d.; 08, lid.; DB, 16Jd.; BTH, 144 d. Messrs. Murray, Roberts, and Co., Ltd., report:—We- brought!forward a catalogue of. 1300 bales of wool, in addition Ho our usual offerings of' skins and hides. We • experienced a very good sole, prices for wool being very firm on the whole. Good .bulky, lightrcouditionod crutchings hardly reaohed tho extreme '.prices recorded last month,, but. the lower grades made about •the same figures as previous sale, while 'lightly-seeded, lots made, better prices. Badly-seeded lots were, however, neglected. Fieeco wool and lambs sold fully up to last month's Quotations. Sheepskin's were .in keen demand at enhanced figures, hides ■ also-sold well up to late rates,-being occasionally a farthing lower. - The range of prices was as under :— Sheepskins: Fine crossbred, 113 d. to 12Jd.; medium to coarse crossbred, lid,to 12Jd.; shoTt to half-wools. 7d. to llid.; dead and damaged crossbred, 6d. to 101 d.; inferior arid badly damaged, 2d. to 7id.; lambs, Bid- to 12Jd.; damp, salted, and green, 2s. 6d. to 13s. 6d.; pelts. 4Jd. to Bjd.; lambs, salted, to Bs. 3d. Hides: Ox, heavy, lljd.

to 12.UL; ox, medium, 93d. to llikl.; ox, light, 93<1. to lOjd.: cow, heavy, 10(1. to 10id.; cow, medium, 9Jd. to lOid.; cow, light, 83d. to lOd.; cut, slippy, aud inferior, 6(1. to SJd.; bull's aud stag', sd. to 83-Bd.; yoarling6', Bd. to 9i<l.; calf, medium to good, to 12d.; calf, damaged, 6d. to 9 3-8(1. Tallow, 275. to 30s. 6(1. per cwt.'

The New Zealuud Farmers' Co-operative Distributing Co., Ltd., report that, their catalogue "was well cleared, except in the case of seedy lambs' wool and crutchings. Compared with priccs at tlio last main sale on June 2, there was a drop of about 3d. per lh. on crutchings. dean lambß' wool was in good demand at rather easier rates, hut the few 1 iqes of clean fleece wool sold on a par with last gale's. Home buyers and those having orders'for crutchings were active. Competition was. animated. Sheepskins wero in good demand, and values I'or most descriptions a.ro firmer. Hides again sold well, but .calfskins' were easier. Tallow also was a, little easier. SOUTHERN MARKETS. By Telegraph—Press Association. Christchurch, July 7. The local wlicat market ■ is firmer, an advance in prices for Tuscan and.Hunter's being Recorded.. There is little grain offering by growers, but a fair amount of business is .being done between merchants and; millers. North Island millers also havo been in the j market. .'.Tuscan, is now worth 4s. sd. to 4s. fid.; Hunter's, 4s. Bd. to 4s. 9d.; and pearl, 55., at country stations. Oals are scare© and firm." There is a good local demand for oatsheaf chaff, which is realising £5 at country, stations for p'rimo quality. Potatoes have shown a further advance, there not being a, large quantity offering, and- the lowest figure at -which they can now bo -.purchased is £6 10s'. at country stations for July delivery, w\hilo £7 is paid for August delivery. APPLES. Australian-New Zealand Cable Association. (Bee. July 7, 2.30 p.m.) London, July 6. Seven thousand cases, the balance of tho stoamer Banana's Victorian apples have been so®. The market was firmer, and competition keen. Many of tho cases ■were wet. The .sound, parcels realised about the opening priccs. VICTORIAN PEODUCE. Molbourne, July 7. Bran, £5. Pollard, £6. Barley: English. 4s. 6d. s to 4s. 9d.; Oa.pe, 3s. 7Jd. Oats: Milling, Algerians. 2s. 3d. to 2s. 4Jd-.;- feed, Is. lid. to 2s. 2d Potatoes, £6 to. £7. Onions, £4 to £4 sc. ' BANK OP ENGLAND UETUKN. By Telegraph-Press Association-Copyright, (Reo. July. 7, 2.30 p.m.) : London, July G. The Bank of England return issued for the week ended Wednesday, July 5, is a3 under :— . Issue Department. Note Issue £76,,772000 Gov. debt - l - £11,015,000 Other securities 7,434,000 Gold ...' ... .58,323,000 ■ £76,772,000 ' ' £76,772,000 Bisxoid Department. Proprietors' Gov.securi- . ' capital £14.553,000 ties £42,167,000 Publicdo-' Otherseourlposits ...' 58,049,000 . ' ties 95.507,000 Other deposits ....103,607,000 liotes... ... 40,406,000 Best, 7-day and other bills ... 3,291,000 Coin 2.000.C00 £180,400,000- £160,400,000 The leading items'of the Bank of England return afford theiollowing comparison:— 1 This week Last week Last year £ £ £ Bullion ... - 55.323.000 50.542,000 5-2.227,000 Reserve - 42.406,000 - 43.030.000 36,641,000 Koto Circulation 36.366.000 35,800,000 36.073,000 Public Deposits 53,940.000 49.'i79.0C0 67.800.000 Other Deposits 103,607.000 106,371,000 139,859,000 Proportion of reserve to liabilities. 25.08 . 23.20 17.63 GOVERNMENT SECURITIES. _ Tho following are tho latest quotations for Colonial Government Securities in comparison with those ruling Inst week: •

•' . MONEY MARKET. The Bank of England discount rata was on January % 1914, reduced from 5 to 41 per cent., oil January 22 it was reduced to 4 per cent., and on January 2fi 3 per cent. On July 30 the rate was raised to 4 per cent., and on July 31 it -was raised to 8 per cent., and on August 1 it was lUTther advanced to 10 per cent. On tAueust 6 tjie rats was reduced to 6 per cent., on August 7 it was r<? duced to 5 per ccnt., at which rate it i now stands. . OPEN MARKET RATES. ■ The open market discount rata for three months' bills is 5 per oent., as compared with 5J per cent, last week and 4J per cent, last year. . Short loans are quoted at 4J- per cent., as lißainfct 45 per ccnt. last week, and 13 per cent, last year. . COLONIAL AND OTHER ERODU'OE. London, July 6. Butter.—Market lifeless. A few New Zealand lots sold at 168s. to 170s. Australian market nominal. Oheese is dull of sale. New Zealand, 945. to 965. Suear is steady. American granulated, 41s. 7Jd. Bradford Tops.—Slow business. Market has strong . tone; prices firm, but unchanged. , Wheat—Market quiet. Cargoes are steadily lield. Hour.—Market steady. Prices unchanged. Peas—Firm. New Zealand Maples, 55s to 635. Beans.—Market firm. Prices unchanged.

Variation • compared tocic Tricc. with . last week. i! 5. ti. 24% Imperial Consols 61 0 0 jo/q highor 34 „ War Loan . . to 15 0 ]]|gi 10l . 4§ n War Loan ' 07 0 0 j2/6hiGhor 4 „N.S.W.1933Jan.-July 87 0 0 i5 B blshor 5J ,JJ.S.W.1930-50Mr.-Bp 07 0 0 3/6biglier 34 „N.S-W. Early Curr 76 0 0 5 S l 0 wor 4 ,.N.B.'W.1025Apl.-Oot 73 0 0 Unchancod 3 „"Viu. 1020 Jan.-July <14 7 6 2/6 lliKher 34 „Vic. 19-21-6 Jan.-July 85 10 0 j B hiuher 34 ■ „V"c. iy*20«194D • 74 1-2 0 2/6 bictaer 3 „Vfo. 1929-49Jan."-July 67 0 0 17/6 liichci34 „S.A.;«16Jnn.:july; ,75 0 0 7/Shighor 4 ,9.A, 1316 Jan.-July 61 7 6 Unchanged 3 ,.QTdl91o-24 Jan.-July 91 7 G 7/6 higher 34 „QTdl92-2-47Jan.-July 89 0 0 10s higher. 3 ,QTdl92-2.47,Tan.-July 66 5 0 20s higher ■ 4 "N.Z. 1920 May-Nov. 60 12 6 7/6 higher ■34 "N.Z. 1012-40 Jan.Jly 76 7 6 JOs higher 3 "N-Z. 1020 April-Oct .63 10 0 7/6 higher 34 *'W.A. 1915-35 M'y-N'v 76 12 6 Unchanged 3 "W A. 1915-35 M'y-Nov 72 0 0 15s higho" 1 3i "Tas 10-20 Jnn-Juiy 74 0 0 Jos bighor 3 "Tas 1020-40 Jan-July C6 15 0 Unchanged