COMMERCIAL ITEMS

Dominion, Volume 9, Issue 2842, 5 August 1916, Page 12

COMMERCIAL ITEMS

. INVESTMENT SHARES. i Yesterday's quotations for ~ 'investment shares were-as follow:— Buyers. ■ Sellers. " ■ , . £ s.d.- £ s.d. Bank N.Z. (£6 13s. 4d.)... 16 19 0 — Well. Trust, Loan, Ltd.... —. . ,7 0 .0 Napier Gas (£10) 15 10 0 — ' National Insurance 212,6 — S. British Insurance 4 19 6 . — Well. Heat Export (£5)... — 5 2 6 Well. Meat Export (£2 12s. fid:) : 3 2 6 Hiiddart-Parker (ord.) ... 1 \5 0 , 16 0 Huddort-Parkcr (pref.) ... 1 0 9 — Onion Steam (ord.) 116 9 117 3 . onion Steam • (pref.)-1 0 11 — Weil. Woollen (ord.) ...;.. 6 10 — Well. Woollen (pref.) 3 17 6 — Waipa Coal 0 18 6 — Wcstport Coal 19 3 — N.Z. Consol. Dental 116' . — Scoullar Co 13 6 — ' Customs duty collected, at the port of Wellington yesterday amounted to £2940 7s. M. WOOL, SKIN. AND HIDE SALES. . The fortnightly sales of wosl. skin, nnd ■ hides were . held yesterday by the various brokers:— Messrs. Murray, Eoberts alii-Co. report that they offered a catalogue of 3600 sheepskins, 350 hides, and oddments of tallow and bag wool, all wool in bales being held for the next crutching sale, on September

i. Prices for sheepskins showed a declino of id. to £d. per lb. in dry salted skins being cosier to the extent of an average of 6d. per skin. Hides wero firm, cows' showing an advanco in soino cases of fcd. per lb., with keen inquiry. Tallow sold at prices equal to last sale.

Messrs. Abraham and Williams. Ltd., report that they o&'eroffa f3!i? catalogue of all olasses of protfuco to a full bench of buyers. Competition was extra keen- for tallow, which sold at au advanco on last sale rates; skins were slightly easier, showing a decline of about id. to id. per lb. Cow hides showed a rise of fcd. to 2d. per lb. The market for ox hides- waa on par with last sale rates.

The New Zealand Loan and Mercantile Agency Co., Ltd., report that competition was good, especially for hides and tallow, but wool oddments aud sheepskins, more particularly damp and salted skins, were rather lower than last sale.

iJcssrs. Levin and 00. report that tho sheepskins market, was firm and unchanged. Hides also were unchanged, and calfskins were higher by jd. - Mssrs. Wright, Stephenson and Co., Ltd., report that all classes of skins sold at rates on a par with last sale's. Hid© aud tallow prices also showed no difference.-

__ Sales wore also held by the United Farmers' Co-op. Association and Watra* rapa Farmers' Co-operative Association. . l'he range of prices was as uuder:- — Sheepskins.—Halfbred, 9d. to 12d.; fine crossbred, UJd. to 12d.medium, coarso crossbred, lOd. to 12d.; short to half-woois. 4£d. to 103 d.; dead and damaged crossbred, 4Jd. to 9d.; inferior- and badly damaed, Id. to 7d.; lambs, B*d. to lljd.; damp, salted, and green, 3s. to i7s.; pelts, 4d. to B£d.; lambs, ealtod, 4s. 7d. to 6s. 6d. Hides.--Ox, heavy, 601b. up, lOd. to lsjd.; ox. medium, 50-591b., lid. to llgd.; ox,, light, 491b. and over, 10Jd. to lid.; cow, heavy, 551b, and over, lOd. to 10£ d.; cow, medium, 42 to 541b.. 9|d. to lOjJd.; cow, light, under 421b.; 10 3-Bd. to lO^d.: cut, slippy, and inferior, 6d. to 91d.: bull, stag, 73d. to 9gd.; yearlings (161b. ttf 241b.), 1044. to lid.; calf, superior (up to 161b.), Hid.* to 14£ d.; calf, medium, good (up to 161b.), lid. to 14d.; calf, damaged (up to l6lbj, 6d. to l!u. . Tallow.—ln casks, 275. 6d. to Ms. 6d.; in tins, etc., 255. to 30s. Horse hair, Is. 4d.; cow-tails, la per dozen. OHItISTGHURCH GAS COMPANY. My Telegraph—l*re>s Aa&iwmti-m Christchurch, August 8. The directors of tho Clrrtstchurcll Gas Company, in forwarding an interim dividend at the. rate of four per cent, inateftd of . the customary five per cent., advise shareholders that owing to considerable sums which tho company will have to meet, due to the increased taxation a. war bonus to a, -section of employees, haltpay to those at the front, and large advances in tho cost of material and coal, the directors deemed it prudent, pending consideration of tho full accounts at the end of the year, to make a reduction in the interim dividend.

SOUTHERN MARlf'fiTS.

• Chrlstchurch, August 4. As buying of wheat has not yet been resumed : since buyers went out of the market on aocount of expeoted drop in price of Australian wheat for export, It is difficult to say what local values arc. Several lines have been offered by growers, who havo' asked lato prices, but buyers arc not yet prepared to do business. They are doubtful as to what they will be prepared to,givo until it is seen whether the Government will take any action to protect, New Zealand wheat growers and. millers. Oate and chaff remain - without change, -and with only a limited business doing. The potato market shows some signs of recovery, and a few more orders are coming in, but north, ciji buyers are endeavouring to keep prices down to the level tho market had lately reached. On the other hand, merchants are holding out for tho ratis ruling .before the decline. There will be a few potatoes going north during the next ten clays, a,ud by that time it ih expected tho northern _ market will bo in want of further supplies. Meanwhile, growers arß not offering freely, and buyers havo had to increase their limit above £6. Several sales have, therefore, fxen. made at £6 55., and '£6 10s. was made at country stations; VICTORIAN PRODUCE MARKET. Australian-New Zoaland Cable Association. 1 Melbourne, August 4. Barley, English 4s. 6d. to 4s. 9d„ Oapc 3s. 3d. -to 3s. 6d.; oats, milling Algerians 2f. 3d. to 2e. 4d„ feed Is. lid. to 2s. Id.; potatoes, £6 ss. to £7 10s.; onions, £4 to £4 se. FROZEN MEAT IIAHKET. : Messrs. Gilbert, Anderson, and Co. (Messrs Mcllsop, Eliotl, and Co., PalmerEton North, local agents)-, report od tbo frozen meat market under date London, June 9, as follows:— All classes of meat are weaker, with tho exception of the Government-controlled mutton and lamb. Home-grown meat exceeded the quantity for the corresponding week last year by over 1000 tons 011 Smithfield, and in Liverpool prices for Irish lambs fell to 9id. per lb. Chilled beef has dropped considerably, and with Pata-' gonian lambs in strong evidence, Soutti Americans arc Jd. cheaper. The increased quantity released by tho Government has token place, chiefly in the provinces, but when London's sharo is given it ie quite possible that tho effect will be to lower prices. Market prices for'week ended:— June 9, June 4, June 2,' ■1 1916. 1915. 1916. • d. d. d. d. d. d. Home-grown— / Beef, sides 111-121. 94-11 111-125 . jilutton: Wethers ;. 11 -14' 10 -11* 11 -15 Ewes ; 93-10! ■ 8. 11 -Hi -Tegs 13 -141 101-11 . 15 -161 Lambs 131-15 101-12 15 -16H Veal, best 13-15} — 131-16" Pork Si-Hi 9 -9j BHU Frozfln— Mutton: , • N.Z. wethers .... 88 7 -£•! 85 N.Z. ewes 8J 6J 8J - ; Australian, ewes and wethers ... 8J 65-65, Si S. Ainer. wethers 10-9J 61 10J Lamb: N.Z. &, Australian 9* 83-8 9.1 South American 12 . — 8 Veal, N.Z 8 8 Fori:, U.S.A 8} - 1 Ci Chilled: Plate ox fores and ■ hinds : 83-10} ' 7}- 9 102-12 BANK OF ENGLAND RETURN. Australian-New Zealand Cablo Association. (Hec. August 4, 7.10 p.m.) London, August 3. Tho Bank of England return issued for. the week ended Wednesday, August 2, is as under:— Issue Department. ftole Issue X 73,350,000 Gov. debt ... £11,015,000 Other securities 7,434,000 • ' ' • Gold 53,910,003 £71,359„000 - £71,350,000 Banking DEr.umiKNT, Proprietors' ' Gov. sccuri'capital i'1i,553.000 lies £42,183,000 Public dc- : ' Other securijiosits ... 51,010,000 tics 75,057,000 Other dc- ■ .\ posits ... 85,517,000 Notes 34,701,000 Rest, 7-day and other bills ... 3.412,C00 Coin 1.970.000 | £154,622,000 £154,522,000 Tho leading items of the Bank of England return afford the following comparison:— This week Last week Lastyeur Bullion 52.010.0C0 54.353.000 61.203.000 Betcrvo ... 35.677.000 35.7fi1.000 47.156.000 Noto Circulation 3fi.655,000 36.045,000 33,486.000 Public Doposits 51.010.000 52,930.000 147.050.0C0 Other Deposits 85.517,000 85,241.000 SI."21,000 Proportion of reserve to liabilities, . 26.86 28.03 22.4 GOVERNMENT SECURITIES. . Tho following are tho latest quotations for Colonial Government Securities in comparison with those ruling last week:

MONEY MARKET. Tlio Bank of Eiißland discount rate was on January 2, 1914, reduced from 5 to 41 per ccnt.. on January 22 it was reduccd to 4 per ccnt., and. on -January 28 3. per ccnt. On July 30 the rate ivas raised, to 4 per cent., and on July 31 it was raised to 8 per cent., and on August 1 it una further advanced to 10 per cent. On August 6 tlio rate wis reduced to. 6 per cont., on August 7 it v,-as roduccd to 5 per ccnt. On July 13, 1916, it, was raised to 6 per cent. OPEN MARKET RATES. 'l'hn open market discount rate for Ihrco mouths' bills Is 5g per cent., aa compared

with 6ii per ccAnt. Inst week, and 5 per cent- last year. Short loans a-ro quoted o.f, 4ft per cent., as againEt 5 per cent, last week and 4J per cent, last year.

COIiONIAIi AND OTHER PRODUCE. Wheat.—Tho market is strong owing u> reports that rust is spreading in Canada and reduced- crop estimates.- A shilling advance is asked for cargoes. Flour is Arm. There is uo Australian flour offering. Barley is firm. Australian bfi6 been cleared. Beans aro firm and hardening. Oats are steady. La, Plata, none ottering. 1 But-ter is very firm. Danish is in short supply, and is quoted at 182s. to 183s. New Zealand is almost exhausted. Choicest is quoted at 1725. to 1745.; secondary, 160n to 168s. It is officially stated that no Siberian is coming. Cheese.—T!Kc market is firm. New. Zealand and Canadian are quoted at 88s. to 925. Sugar is unchanged. Bradford Tops.—The market is quiet and unchanged, with a slightly easier tendency.

Variation cift-i. compared btock Price. with . ~ ' last weok. £ s. d. 2i% Imperial Consols. 58 17' B 12/6 lower 3j„\Vai-I,oau p 6 8 fi 3a / 6 Io»cr 44 „ War.Loan 05 15 0 5 s i owor 4 .N.S.W.1033Jan-July 86 0 0 °0s lowoi34 ,.K.8.W.M30-MMr..Sp 06 7 6 SI,"™.'. 3j ..N-BW Early Cure .7415 0 Sb lower 3 N.S. W. 1925 Apl-Ocl 7 J 7 6 «f 6 hYfihor 4 Vic. 1920Jan-July w 0 0 JS . II "^•^n1o. J r- Jul> ' 85 5 S UuctoBed 34 „V.C. 10JM919 75 10 0 , r i.s )i ich nr 3 ..Viif. 1029-49Jan-JuIy 66 10 0 5s 1,ichor 3i „S.A. 1016 Jan-July 74 10 0 ,Si 3 ..S.A. 1016 Jan-July 6110 0 OnXfied 4 „Q'rd3915-24 Jan-July 60 15 0 5s lower 34 „QTdl92'2-47Jan-Jiily CT 37 6 fishishor 3 V.?,' 1 ; d S^ nn V? nly Ml 0 0 5» teller 4 N.Z. 1929 May-Nov. ts 7 6 jo s i owot Bi ' N.Z. 1012*40 Jan.Jly 76 3 6 Slower 3 N-Z. 1920 April-Oct 68 7 6 Es lower 36 W.A. 1015-35M'y-N'v 76 5 0 20s liiflbor 3 "W A. 1015-35 M'y-Nov 71 15 0 6s lo^or 1 34 'Taa 1920 Jan-July 74 0 0 2,'ghiKbor 3 Tas 1920-40 Jan-July 66 15 0 Unchanged