COMMERCIAL ITEMS

Dominion, Volume 10, Issue 2920, 4 November 1916, Page 12

COMMERCIAL ITEMS

INVESTMENT SHAEES. Yesterday's quotations for investment shares were as follow:— Buyers. Sellers. £ s. d. £ s. d. Union Bank 53 0 0 — N.Z. and E. Hate — 2 16 Well. Invest. T. and A. .. — 0 10 9 Weil. Trust, Loan, Ltd. .. 6 14 0 6 19 0 Ohch. Gas (£5) — 7 0 0 Well. Gas (pref.) 0 18 0 0 19 6 Gear Meat (£1) A 10 0 — Weil. Meat Export (£1 155.) - 2 10 Union Steam (ord.) 2 2 6 — Huddart-Parker (ord) ... — 15 3 Kaiapoi Woollen (ord.) .. 6 2 6 6 6 0 Well. Woollen (ord.) ... — 6 0 0 Westport Coal — 19 6 Westport-Stockton (ord,) — 0 6 7 Leyland-O'Brien 13 0 1 3 6 Golden Bay Cement .;.... :— 110 Customs duties collected at the port of Wellington yesterday amounted to £2297 7s. 4d. AMERICAN MOTORS. During the .first seven months of the current year New Zealand imported nearly ' 4000 motor-cars, ; valued at approximately £490,000. This total represents a big increase on the imports for the corfeipondinK period of 1915, but tho figures in themselves do>not toll the whole story. American manufacturers have secured a largely increased share of tho trade, owing in. part, to tho inability of many . British firms' to attend" to commercial orders. The Ministry of Munitions has first call upon the services of the manufacturers of caTs in tho United Kingdom. and tho American 1 exporters have been: quick to take advantage of the opportunity that tho: war has created for them. American cars have been coming

into New Zealand, at a recoTd pace during tho last eight or ten months.

Referring to this subject yesterday ia. busness man tvlio wa» recently in tnotNutcd. Kingdom said ho was inclined to believo fcho Americans were trying to fortify their position in the Now Zealand market with a view to after-war competition. Their liffht, liish'powered oars, with standardised parts, wcro particularly siuved ; to colonial conditions, and they were offering agents attractive terms with tho object, of establishing a wide connection. "?fo exception can bo takon to this selling campaign," ho said, "but I think tho people of Now Zealand* ought to keep in mind tho fact that after the -war the Brit- , lsh manufacturers of motor-cars, and of many other typus of machinery, are going to compete under new conditions. We shall have cheap, standardised motor-cars from tho hngo plants that "havo been established to handle war orders. British factories that used to produco cars by tho dozen -will bo ready to produco them by tho hundred, and they will possess the most modern automatic machines for the purpose. The Americans are not going to hnve anything like a monopoly of tne cheap, light, relatively high-powered cars after the close of the war."

SOUTHERN MARKETS. By Telegraph—Press Association.

Christchurch, November 3. The wheat market, as well as tho flour market, has become almost as excited as it was on the outbreak of war. The position .has been affected by tho rise in tho price pf flour and of wheat for export in Australia, combined with an apparent local scarcity of wheat. Both millers and merchants say they want wheat, but cannot buy it from farmers, none being offering, and no ono appears to know of any quantity being held in tho country districts. It is reported that America is purchasing wheat in Australia at £12 per ton, f.0.b., an advance of £1 per tou ou lata rates, and the export price of wheat lias been advanced from 4s. lid. to ss. 3d. Although soma flour has been coming in from Australia, efforts to obtain a larger supply have failed, for the time being, probably on account of other orders being in hand. The local prico of flour lias advanced to £13 per ton, and wheat is now quoted nominally at country stations as follows Tuscan, 4s. lid. to 55.: Hunters, ss. to ss. Id.; and. Pearl, ss. 3d. to" ss. 4d. Thero is no change in other lines, except potatoes, for which £9 ss. to £9 10s. is now being offered at country station.?, with? small supplies offering. LONDON WOOL BALES. Australian-New Zealand Cable Association. (Dec. November 3, 5.15 p.m.) London, November 2. At tho wool sales there was a good selection of all classes of crossbreds. Greasies were in the sellers' favour. Blipes continue to harden. Merinos are selling at extravagant prices. Tho following prices were realised for fleece portions of New Zealand clips;— Severn, top 26Jd.. average 21d.; Ohristchurch, 25d., 22Jd.. BANK OF ENGLAND RETURN.. Australian-New Zealand Cable Association. (Rec. November 3, 5.5 p.m.) London, November 2. The Bank of England return lßsued for the week ended Wednesday,' November 1, is as under:— Issue Depamsiext. Note Issue £72,875,000 Gov. debt ... £11,015,000 Other securities 7.134,000 Gold 51,126,000 £72,875,000 X 72.875.000 Banking Defaiitmej-'t. . Proprietors' Gov. seenricapital £11.553,000 ties £42,188,000 Public de- ■ Other Eecuriposits ... 61,107.000 ties 103.714,000 Other do-, posits ... 116,622,000 Notes 35,651,000 Rest, 7-day and other • bills ... 3,'215,000 Coin 1.QM.000

£185,497,000 i 185.487.000 The leading items of the Bank of England return afford the following comparison:— This week Last week Lastyear Bullion 54,426,000 64,178,000 56,499,000 Reserve ~. 37.595.000 37.837,000 H. 675,000 Note Circulation 87,224,000 5G.666,000 33,433,000 Fublic Deposits 51,107.000. 62,543.000 45.537.000 Other Deposits 116,623.000 112,170,000 95,774,000 Proportion of reserves to liabilities 22.41 22.96 29.48 GOVERNMENT SECURITIES. The following are the latest quotations for Colonial Government Securities in comparison with those ruling last week:

MONEY MARKET. Tile Bank of England discount rate was on January 2, 1914, roduced from S to 45 per cent.. .on January 22 it -was reduced to 4 per cent., and on January 23 3 per cent. On July 30 the rato ivas 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 ccnt. OPEN MAEKET HATES. The open market discount rate for three months' bills is 5 9-16 per cent., as compared with 5 9-16 per cent, last week, and 41 per ccnt. last year. Short loans are quoted at 5 per cent., as against 5 per cent, last week, and 4J per cent, last year. COLONIAL AND OTHER PEODUOE. Wheat.—Nominal. Flour is ill Bhort supply, with prices advancing continuously. Pehs and Beans.—Strong; prices advancing. New Zealand, none offering. Oats—Very firm. Old L<l Plata, ex quay, 38a. 6d. Butter.—Very firm; supplies small, Danish about 216 a.; New Zealand, nominal at 2003.; Canadian, 1965. to 198s. It is expected that the first arrivals of the now Australian season will make 200s. Cheese—Strong. Canadian, 114s. to 1165.; Now Zealand, 112s. to 114s. Sugar.—Unchanged. Bradford Tops.—Plenty of inquiry, but business limited, owing to top-makers asking prohibitive prices. Sixty-fours, 57d.; super sixties, 56d.; common sixties, 55d.; fifty-sixes, 42d.; fifties, 34d.; forty-sixes, 29Jd.; forties, 2Bd. THE METAL MARKETS. Australian-New Zealand Oablo Association. (Rec. November 3, 5.15 p.m.) London, November 2. Tin.—Stocks, 18,821 tons; on spot. 2858 tons; afloat, 3630 tons; deliveries, 1317 tons. Copper.—Spot, £124 ss. per ton; three months, £119 10s.; electrolytic, ,£143. Lead.—fipot, £30 10s. per ton; three months, £29 10s. Spelter.—Spot, £52 10s. per ton; three months, £50 10s. Tin.—Spot, £180 12s. 6d. per ton; threo months, £181 12s. 6d. Bar 7-16 d. per ounco standard.

Variation ■ compared S U Price. vitb last week. 2J?i Imperial Consols '• 'L ' i4 „ War Loan f. ® ° 7)6 lower <41 „ War Loau .S* ™ S Unchanged 4 „ JJ.«.W.W.j3 Jan-July S ?2 « Ms lower 3J„ fl.S.W.1930-50Mr.-Sp j,S " ? Unchanged it „ N.S.W. Kaa'ly Ourr. '™ ® " . V 3 „ N.S.W. 1925 Ajl.-Oct S ,? 9 2/6 lower 4 „ Vie. 1920 Jan.-July 52 J Unchanged 3J„ Vio. 1921-6 Jan.-Juiy S n S ? 61 jwer 34 „ Vic. 1920-1949 ™ ,9 9 Unchanged 3 „ Vic. 1929-49 Jan.-Jly £{2 " Unchanged 3J „S.A. 1916 Jan.-July n I o n nc £ 3 „ 8.A. 1916 Jau.-Ouly go n n H nc ? anBe^ umm# nil 115 S!S § SsSSKS \ l " Mills S y 'S T 1! > 0 11 higher i"nTKS, 6^ 511 ?"? 07 70 5 0 Unchanged y 73 15 ( Unchanged 3 Tas 1920-40 Jan.-Jul; 66 0 C Unchanged "Ex-dividende. tAs.cablcd; last week's quotation was £95 5s.