COMMERCIAL ITEMS

Dominion, Volume 10, Issue 2914, 28 October 1916, Page 12

COMMERCIAL ITEMS

INVESTMENT SHAKES. „ A sale of National Bank shares at £5 4s. was made on 'Chango yesterday. The Quotations wcro «s under:— Buyers. Sellor«. £ s. d. £ 3. d. Bank N.Z. (£6 13s. M.) - 17 7 6 Union Bank — 54 0 0 N.Z. and It. Plate. - |l Well. Invest. T. and A. .. - 010 9 Well. Trust Loan, Ltd. - 619 0 Well. Gas (£10) - .15 2 0 Well. Gas (prcf.) - , 0 19 6 N.Z. Itcfrigerating Co. (£10) - 1915 0. Gear' Meat (£1) 410 0 - Well. Meat, Export (£1 153.) - 2 1« Union Steam (pref.) 113 — Well. Woollen cord.) - 6 0 0 Westport-Stockton (ord.) 0 6 0 0 6 6 Leyland-O'Brien 13 0 13 6 N.Z. Consol. Dental 13 0 — N.Z. Portland Cement ... — 011 6 Golden Bay Cement ' ' — 110 ■Scoullar Co. (ord,) - 14 6 Customs duties collected at the port oJ Wellington yesterday amounted to £2620 ss. 6d. MOSGIEL WOOLLEN COMPANY. By Telegraph—Press Association. Dunedin, October 27. The annual report of the Mosgiel Woollen Factory Company states that the directors recommend a dividend of 7 per cent, and a honus of 2 per cent., leaving £12,653 to be carried forward. SOUTHERN JTASKETS. Chrlstchurch, October 27. There is a fairly large amount of business passing in wheat between merchants auo. millers ca, vncfca trora let. u, 2d. in. advance of the rates lately ruling. The market is distinctiy firmer in view ot tho iact itaX ttus TitaA me.'riMA oXV on&t: tbo world is abnormally high. There is, therefore, no further fear of cheap supplies coming in from. Australia. Another factor that tends to the firming ot tho local market is the scarcity of offerings from the country. Very few lines are now coming forward, and, therefore, little idea can be obtained es to what prices would be paid at country stations. With about three-quarters 01. a million bushels carried over from last year and a little over "seven million bushels returned for last harvest the question is where is the wheat being held? Millers' and merchants' stocks are low, and buyers say they can hear of little being held in tho country districts. There is nothing fresh to report. in regard to oats or chaff. Potatoes liavo further advanced, and are now quoted at £8 ss. to £8 10s. at country stations, with very few offering. Now potatoes from the North Island ero now coming forward.

LONDON SHEEPSKINS SALES. Messrs. Wright, Stephenson, and Co., Ltd., have- received tho following cablegram from their London office:—"Sheepskins: Prices are unchanged, except for short and-shorn, which' are fully id. dearer." ' LONDON .WOOL SALES. Außtralian-New Zealand. Cable Association. (Bee. October 27, 10.5 p.m.) • London, October 26. At the wool sales a miscellaneous selection of merinos were offered, and prices wore fully maintained. There was a, largo offering of erossbreds, mostly slipes, for which prices were slightly harder, greasy erossbreds making extreme rates. Messrs. Murray, Roberts, and Co., Ltd., have received ' the following cablegram from their London agents, under date October 25:—Market very firm. Merino greasy, good advanced 5 per cent., inferior faulty, unchanged; crossbred scoured and slips advanced 5 per cent." ,VICTOEIAN PKODTJOE MARKET. Melbourne, October 27. Oals,, milling, Algerians, 2s. 2d."" to 2s. 2fd.; feed, Is. lOd. to Is. lid. Potatoes. £7 10s. to £8. Onions. £4 to £5 ss. BANK OF ENGLAND RETURN. Australian-New Zealand Cablo Association. (Rec. October 27, 10.5 p.m.) London, October 26. The Bank of England return issued for the week ended Wednesday, October 25,' is as under:— Issue Depaotment. Noto Issue £72,6-27,000 Gov. debt ... £11,015,000 Other securities -. 7,134,000 • Gold .... ... 51,176.000 'fl-2.6-27.00b ' i 72.627.000 BANKING DErABTMENT. Proprietors' Gov.sccuricapital £11,553,000 ties £-12,168,000 Public de- Other securi- ■* •■ posits. ... 52,513,000 ties 103,113,000 Other do- , posits ...112,172.000 Notes 35,911,000 Rest, 7-day arid other bills ... 3,190,000 Coin 1.886.C00 £182,453,000 £182,158,000 The leading items of the Bank of England return afford the following comparison:— This week Last week Last your Bullion 51.178.000 65,436.000 59..074.000 Ecsorve ... 37.827,000 38.237.000 41.666.000 Note Circulation 36.686,000 36,668.000 32,795,000 Public Doposits 62,513.000 55.569.000 42,885.000 Other Doposits 112,17-3,000 108,106.000 99.870.000 Proportion of reserves to liabilities / 2-2.96 23.30 30.01 GOVERNMENT SECURITIES. The following are the latest quotations for Colonial Government Securities in comparison with those ruling last week:

MONEY MARKET. The Bank of England discount rate wns on January 2. 1914, reduced from 5 to 4J per cont., on January 22 it was reduced to 4 per cent., and on January 23'3 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 further advanced to 10 per cent. On August 6 the rate was reduced to 6 per cent., on August 7 it was further reduced to 5 per cent., on July 13, 1916,. it was raised to . 6 per cent. OPEN MARKET BATES. Tho open market discount rate for threo months' bills is 5 9-16 per cent., as compared with 5 9-16 per cent, last week, and 4| per cent, last year. Short loans are' quoted at 5 per cent, as against sper cent, last week, iand 4Jper cent, last year. COLONIAL AND OTHER PRODUOE. Wheat.—Parcels are firm. Cargoes arc not being ottered. Flour is in strong domand, and tho offerings are small. Australian patents, 555. 6(1. Oats are 'in strong demand. La Plata, ex quay, 365. 6d. Peas and beans are very firm. New Zealand are not being offered. Butter is very firm. Supplies of all sorts are short. Danish, about 2105.; New Zealand practically cleared, and normally quoted at 2005.; Canadian, 1945. to 19?5.; Argentine, 1945. to 198s. Cheese.—Tho market is flrnii and tending higher. Canadian, 112s. to 1155.; Now Zealand, 112s. Sugar—Tho market is unchanged. Bradford Tops—Tho market is strong, with a hardening tendency. Sixty-fours, 555 d.; supor sixties, 54id.; common sixties, 531 d.; forty-sixes, 40d.; fifties, 33d.; fortysixes, 28{d.; forties, 27Jd. , METAL MARKETS. Copper.—On spot, £124 ss. per ton; three months, £119; electrolytic, £144. Lead.—On 6pot, £30 10s. per ton; forward delivery, £29 10s. Spelter.—On spot, £54 per ton; forward,' delivery, £51. Tin.—On spot, £182 2s. 6d. per ton; three months, £183 12s. 6d. Silver.—Bar silver is quoted at 32jd.

The Now Zealand Loan and Mercantile Agency Co., Ltd., report:—At Palmorston North on Thursday we had a fair yardins oi cattle. Competition was good, and prices wcro on a par with recent good sales:—Eighteen-month, heifers, £5 10s.; two-year empty heifers, £6 125.; threeycar empty heifers, £6; two-year steers, £10 Is.; store cows, £6 155., £7 10s.; good forward cows, £9 125., £9 165., £10 65., £10 17s. 6d.; fat cowa, £11 155., £13; springing cows, £6 17s„ £7; cows and calves, £7 17s. 6d., £8 12s. 6d.; two-year S.H. bulls, £10, £12; two-year Jersey bulls, £6 10s., £7 10s., .£8 7s. 6d.; two-year Holstcin bull, £9. 15s.

Variation Stock „ . compared Price. witb I I last wee);. I 21% Imperial Consols , £ s : a ; , 34,. War Loan. ™ ' ° 12/8 lower 4j„ War Loan ' S J]° ° n Ms lower 4 „ A'.ti.W.19J3 Jan-July J?i!| ? Unchanged 3j„N.S.W.1930-50Mr.-Sp „* S ?/6 lowor 3i„K.S.W. Early Curr. ™ g ° FA c 5f n , eod 3 ,. N.S.W. 1925 Apl.-Oot " ,t ° 12;6 higher 4„Tic.l920Jah.-July S, }* S I'Ji? w , or Ji„ Vic. 1921-6 Jan.-July g 1 ' ° holier 3J,. Vie. 1920-1949 5J ,5 S , 2 ' 6 higher 3 „ Vie. 1929-49 Jan.-Jly 1» ,S 2 Unchanged 3J „ S.A. 1916 Jan.-July 73 q » w* ° Wel ' 3 „ 8.A. 1916 Jau.-July If, ° a l ?; 6 '° wer . g j ° 0 « J™ 01 74W 6 a/6 lower >>£.A. 1916-35My-Nov 70 6 0 Unchanged 3i„Tas. 1920 Jan-July 72 15 0 Uncharged i ,.Taa 1920-40 Jan.-Jul; 66 0 0 Unchanged