COMMERCIAL ITEMS

Dominion, Volume 9, Issue 2836, 29 July 1916, Page 12

COMMERCIAL ITEMS

, INVESTMENT'SHARES. Prices o£ investment stocks yesterday ■were as fallow:— Buyers. Sellers.

. WELLINGTON INVESTMENT CO. DIVIDEND OP' 7 PER CENT. DECLARED. The thirtieth annual meeting of the Wellington Investment, Trustee, and Agency Do. wis hold yesterday, tlio cha-ir-man of directors (Mr. James M'Korrow) presiding. In moving the adoption of the report (published in yesterday'-s -Dominion). the chairman said that the past year had been fatirly satisfactory considering oil things. Although the company had plenty of .morniy to lend it was thought that caution should be exorcised on account of .the war. As far as the oompany was concerned it 'had been dccidod to carry on this policy this year. Mr.' Bl M. Simpson, managing director, in seconding- the motion. reiterated tho chairmem's remarks. On the motion of the chairman, it was docided; to pay a dividend of 3 per cent., With a' bonus of 1 per cent. As an interim dividend of 3 per cent, was declared in January last, the dividend for thia year amounts to 7 per cent. Tho retiring directors (Messrs. James M'Keritow and L. 0. H. Tripp) were reelected. Mesi-.trs. E. Bucholz and J H. 6. Rowley, were :re-elected auditors. SOUTHERN MARKETS. By' Telegraph—Press Association. CHristchurch, July 25. Although, -no further information has oome to hand regarding the probable reduction in the price of Australian wheat, millets and merchants are still refraining from malting any further purchases. A niimlier of lines of wheat have been'submitted by. growers, for which no price whatever lias • .been forthcoming. Pending developments, the wheat market is at a. standstill.- There is no change in oats or chaff: The potato market is reported to be a little firmer, Although buyers are still offering' £6 at country stations. A few inquiries aro beginning to com© to hand again from Auckland, asthe quantity going." forward this -week .is' limited to aifew hundred'sacks, and there will bo none next -week, . ' LONDON WOOL SALES. Aurcfcralian-New Zealand Oablo Association. London, July 27. AX the wool sales there -was stronger competition all' round, prices being very firaj. Tho following prices wero realised for fleece portions of tho New Zealand .clips named:—Totnngl, top price 173 d„ average 163 d.; Mount Linton. 19id., 183 d.; Patoka. 16Jd., 15M. The* Board of Trado has announced that it Is prepared to consider applications for tho export of limited quantities of all classes of wool and hair yarns. It is bfjlieveid that the Board will permit small (Tuantitics of crossbreds to be exported to safe destinations, anfl possibly some yarns and crossbred tops. . AMERICAN--WOOL MARKET. Now York, July 27. Tlio American "Wool Jteporter" cays tliat staplo wool of high .grade is scarce. C/ood foreign staples are becoming exhausted, and the only source will soon be the United Statos clips. VICTORIAN PRODUCE PRICES, Melbourne, July 58. Bran, £4 155.; pollard, £5 155.; barley, English Ib. 6d; to 4s. 9d.. Cape 3s. 3d. to 3s 6d.: oats milling '.S. 3d. to ?.s. 4d.. feed 2s. to 2s. lid.; potatoes, £6 10s. to £7 155.: onions, £4 to £4 ss. I; BANK OP ENGLAND RETURN. Außt-ralian-New Zealand Oablo Association. (Rec. July 28, .1.35' p.m.) London, July 27. The. Bank of England return issued for the week' ended 'Wednesday, July 26, is as under. Issue DrfAßTment. Note Issue £72,802,000 Gov.'debt ... -.i 11,015.000 Other securities 7,434,000 Bold 54,353,003 .... j:72,EQ2„000 ... . - ±'72,602,000 - Baa'kisg'Depatitment. Proprietors' . Gov, securicapital JCH.553,000 ties £42,188,000 Public de- - Other seouri- ■ posits .... 52,090,000 . tics 73,210,000 Other deposits ... 85,211,000 Notes 36,757,000 Best, 7-dfty and othoi' bills ... 404,000 Coin 2.024.000 .£153,185,0DD £153,183,000 Tlio leading" items of,the Bank of En{fland return* afford the following comparison:— This weok Last week Lastyea Bullion 54,353.000 54.890.000 50.941,000 Resorvo ... 38.781.000 30.441,000 45,625,000 Note Circulation 36,045,000 36:060.000 33,531,000 Public DopositS 62,990.000 58,088,000 177,036,000 Other Deposits 85,241.000 86,443,000 95,540,000 Proportion of rcservo to liabilities 28.05 27.29 16.80 GOVERNMENT SECURITIES. The following are the latest quotations for Colonial Government Securities in comparison with those ruling last week:

. MONEY MARKET. ~- Tko Bank of Encland discount rate was on January 2, 1914, reduced from 5 to 41 per cent., on January 22 it was reduced to 4 per cent., and on January 28 3 per cent. On July 30 the rate was raised to 4 per cent., and on July 31 it .was raised to 8 per cqntl, and on Aucrust 1 it was further advanced to 10 per cent. On August 6 the rate was roduced to 6 per cent., on Aunust 7 it was reduced to 5 per cent. ' On July 13, 1916, it was raised to 6 per cent. OPEN MARKET RATES. . Tile open markot discount rat© for three months''tiill is 53 per ccnt.. as compared with '58 per ccnt. last week, and 5J per ccnt. last year. Short lpans aro quoted at 5 per cont., as against 48 percent.last week andper cent, last year. COLONIAL AND OTHER PRODUCE. Bradford Tops—Tho market is stagnant. Merinos and fine crossbrods aro Renerally tirm; low medium orossbredß are in tho. buyers' favour. Sixty-fours, 54d.; super sixties, 53d.; common sixties. 52d.; fiftysixes, 40d.; fifties, 33d.; forty-sixes, 23d.: forties, 26i<i. Wheat.—Tho market , is firm on the receipt of unfavourable reports of tho Nort'ii American spring crops. Flour—Good demand; prices firm. Oats.—Market/ linn; business quiet. Beans and Barley—Market steady, witill prices unchanged. ■ Peas.—Market lira. New Zealand Maples 60s. to 70s. Butter-Market very firm. Supplies arc small. Danish, 1765.-. Australian, nominal, choioest, 158s. to 1605.; secondary 1525. to 1545.; New Zealand, choicest, 168s! to 170s. Cheese-Market steady. New Zealand, 905.; Canadian. 80s; to 90s. Simar.—Market steady; prices unchauKed. THE METAL MARKETS. ' Copper—Spot. £105 -103.; -tlnco months.

£99 10s.; electrolytic, £123. Tiu.—Spor., £165 17s. 6d.; three months, £166 12s. 6d. Lea^L—Spot, £28: three, mont.hs. £26 15s. Spelter.—Spot, £59;- three months, £55. tSilvor.—Bar nifver, 33ici. per ounce standard. FItOZEN MEAT MAUKET. Messrs. Gilbert, Anderson, and 00. (Messrs M'elisop, Ellolt, aod Co., Palmerston North, local agents), report on the frozon meat market under dato London, Juno 2, as follows:— Home-growi mcnt, flhows no sign? of casing in value at present, but wo look for plentiful supplies of Scotch lambs in t.ho future, which may .have the effcct of relieving the situation. Frozen: Govcrumeut releases have been on an improved scale m view of more liberal shipments of lamb from Now Zealand, but as the bulk of the meat has been at Liverpool ex s.s. Devon ami s.». Essex tho London market has not felt tho benefit, consequently tho position there remains unchanged. • South. American lambs have, boon sold at 13d. per lb., much to the resentment of tho miyers, who, however, are forced to purchase them. Retailers (iro introducing canned moats as a substitute: for fresh meat. Market prices for week ended;— Juno 2, Juno 4, May 26, - 1916. 1915. 1916. d. d. ' d. d! d. d.

£ s. d. £ s. d. National 'Bank 5 5 6 — Bank tf.Z. (£3 6s. 8d.) ... 10 16 0 - Bamk N.Z. (£6 13s. 4d.) ...-16 16 0 - Napier Ga* (£10) 15 10 0 - Ohristehui'cli Meat — 19 15 0 Huddart-Pa.Tker (ord.) ... — 16 3 Union'.Steam (ord.) 2 3 0 Union Steam (pref,) 1 0 10 — Well.- Woollen (ord.), 6 0 0 Well., Woollen (prof.) 3 15 6 — Wtiipa Co-Til 0 18 4 — Westport Coal 18 9 19 6 jf.Z. Coosol. Dental 116 •—

' , . Variation cVrtrti compared Slook l'rice. with ■ . , lflsfc week. v £ e. a. 2i% Imperial Consols 5[) 10 0 7/5 lower 34 11 M ar Loan t bQ 0 0 fjq li I <' ] * ni ■ . J4„ War Loan . , 96 0 0 Unhanged i N.S.'W.raman.-Jnly 86 10 0 ts S, ii ,.N.S.\V.1930-B0Mr.-Sp BG JO-0 fislowor 3i nN.S.W. Early Cure 75 0 0 2/6 lower 3 ..N.S.W. 1925 A pi.. Oct 73 5 0 UnchaMod 4 1 „Vic. 3920Jan.-July 93 17 6 I2fc f l 0 wer 31 ..Vic. 1931-6 'Juu.-July ST, C 0 3/a lowor 3* ,Xc. 19-20.15119 ■ 75 5 0 15 s higher Si "?'f , «Sf ,SI1 d , ' llr fi6 5 0 Unchanged 34 „S,A. 1016Jan.-July . 14 0 0 Unchanged 3 ,.9.A. 1916 Jan.-July fil 10 0 2/6 lower 4 „QTdlB15-2J Jan. July DO 10 0 2/6 higher 3i „QTdl922-17Jan.-July! 37 12 6 7/61owor 3 ,.QTdl922-17Jan.July 66 6 0 Unchanged 4 N.Z. 1029 May-Nov. ■ 88 17 6 Unchanged 3i "N.Z. 1912-40Jan.Jly 76 5 0 bshiehev 3 ■ N-Z. 1920 April-Oct 68 13 6 12/6 higher 35 W.A. 1915-35 M'y-N'v 75 6 0 Unchanged 3 "W A. 1915-35 iU y-Nov 72 0 0 Unchanged 84 "Tas 1920 Jan-July 73 17 6 7/G taiehor 3 "Tas 19-20-jQ Jan-July 66 15 0 Unchanged

ffome-gTown— Beef, stdoa ....... 11J-125 93-11 lOi-UJ Mutton: • Wethers ' 11 -15 10 -HI 111-14 Ewos 11-111' • 8 92-101 Togs 131-164 ' 101-11 121-141 J jamb :.... 15-161 101-12 13 -151' Voal, best 131-16 ' 11 -14. ■ .Pork .....81-111 9-91 101-11 Frozen— Mutton: N;Z. wethers .... 85 V -6} 8J N.Z. ewes . Si 62- 85 . Australian, ewes ■ ' and wethers ... 85 68-65 85 S. Amcr. wethers 10-95 61 10-92 Lamb: .K.Z. & Australian 91 85-8 91 South American 121 73 12 Teal, N.Z 8 - 8 Pork, U.S.A 81 - 81 Chilled:. ' Plata. oi tores and hinds 103-12 71-9 82-10}