COMMERCIAL ITEMS

Dominion, Volume 10, Issue 2950, 9 December 1916, Page 12

COMMERCIAL ITEMS

. INVESTMENT iSHABES. Prices of investment stocks yesterday wero as follow:— Buyers. Sellers. £ s. d £ s. d. National Bank — 5 10 Union Bank — 54 0 0 Loan and Mercantile (ord.) : - 88 0 0 Loan and Mercantile — (pruf.) — 76 0 0 N.Z. and Eiver Plate .... — 2 10 Well. Invest T. end. A. ... — 010 9 Well. Gas (£10) - 15 0 0 Well.' Gas (pref.) - 0 19 3 Well. Meat Export (£2 12s. 6d.) . — 3 2 6 Well. Meat Export (£1 15q.) _ 2 10 Union Steam (ord.) 2 5 0 2 5 9 Kaiapoi Woollen (0rd.)... 6 4 0 6 6 6 Well. Woollen (ord.) 6 0 0 Waipa. Coal — ■ 0 18 9 Westport-Stockton (ord.) 0 6 4 — Loyland-O'Brien 12 3 — Taranald Oil Wells 0 0 8 — VSale:—UuddartrParker (ord.), '£1 4s. lid. (r.). Customs duties collected at the port of Wellington yesterday amounted to £4378 12s. lOd. SOUTHED HAJtKETS. By Telegraph—Press Association. Chrlstchurch, December 8. Tliero hag been a little more wheat "changing hands during tho week, at a further advance in prices. Sales have been made at 63. for Tuscan at country stations, and a prime line of pear], hold in a city store on the grower's account, was disposed of at 6a. 6d. The announcement that the Government lias decided to tako the duty off imported flbur alters the whole situation; it will enable Australian flour to be landed at nearly 30s. per ton below the present local prices. Whother it will bo possible to obtain shippins spaco for any quantity of flour from Australia, is another question. There is nothing doing of any consequence in other lines (if grain and produce. There should be a much larger crop of grass seed this season than during the previous two years. Grass has Erown well, in spit of the dry weather, end, owing to tho shortage of stock in. Canterbury, a larger area is being roserved for seed. HIDE AND SKIN SALES. A sale of hides, skins, and tallow was held yesterday by the various brokers. Messrs. Dalgety and Co. report:—"Our sale set down for November 24 was postponed owlne to the uncertain position of the sheepskin market, duo to tho commandeer-

ing of tlio wool clip by tlio Government. Yesterday, however, wo offered a large catalogue of Bheopskins, lildos, anil tallow. and thore was kcon competition for all lots; full-woolled skins realised up to the oxcoptional price of 14Jd. All fa'dges and bugs of wool arc being held over, and thoso will be v.ilued by the Government valuers in duo courso"

The N.Z. Loan and Mercantile Agency Co., Ltd., report that tlicy offered a large catnloguo of sheepskins, hides, aud tallow, being threo weeks' accumulation owing to postponement of previous sale. Buyers were well represented, and keen competition wag forthcoming, especially for sound pelted skins, which realised up to 141 d. for fullwools of fair quality. Hides to 14Jd, for full-wools of fair quality. 'Pallow was in request, at enhanced prices. Messrs. Levin and 00. report that the sheepskins market was firm, there being an advojice of Id. on good skins. Tlio hide market was firm, and unchanged.

Messrs. Murray, Roberts and Co. report: —"Wo offered a catalogue of 4COO sheepskins, 450 hides, besides tallow. There was extremoly animated competition for Eheepskins, prices showing a distinct advance oii last sale at Id. per lb. in all good butchered lines, dead' and fallen skins being Id. to 3d. higher. Hides were somewhat erratic, prices hardly reaching the extreme values of last sale. Tallow was firm, at a slight advance for best descriptions. The Wairarapa Farmers' Co-operativo Association, Ltd., with which is incorporated the United Farmers' Co-operative Association, reiport as follow Compared with previous sale sheepskins were higher by 3d. per lb., hides aud calfskins firm at previous rates; competition was strong.

. The N.Z. Farmers' Co-op. Distributing Co., Ltd., report that they offered about 1000 skins, and on tlio whole prices were very satisfactory. Compared with last ealo values were extremely firm, and all lots were oleared to advantage. Unless the . Government commandeer sheepskins as they have done -in the case of wool, the next sheepskin sale will ibe held on January 5. Messrs. Abraham and Williams, Ltd., report offering a large catalogue of all classes of produce, . consisting of some 300 skins. 1500 hides and All bag wool was held over, being commandeered by tlio Imperial Government. Prices for dry skins readied tlio high price of 14Jd., ■ being an increase of one penny on last sale's quotations. Hides were easier zy id. to 3d- Calfskins were down on last sale's rotes by about ljd. Tho firm offered a line of 209 calfskins, which topped tlie market at 14gd. per lb. Tho range of prices was as under:— Sheepskins—Haifbrcd. 13d. to 14Jd.; fiile crossbred, 13|d. to 14id.; medUus.-coa.rso orossbred. 13d. to 14id.; short and halfwool, Sid. to lid.; lambs, lOjd. to 12d.; dead and damaged crossbred, lOd. to 12Sd.; inferior and badly damaged, Bd. -to 9Jd.: pelts, 9?d. to lid.; ! damp, salted, and irreen, 6a. fid. to 18s. 9d.: pelts, salted, ss. to ss. 6d.; lambs, salted, oe. 6d. to ss, 9d.

Hidcs.-Ox, heavy, 12Jd. to 123 d.; ox. medium, lOjd. to 12Jd.; ox, light, lOd. to 11j.d,; cow, heavy, lljd.; cow. medium, lOjd. to lljd.; cow, light, IOJd. to lljd.; cut, slippy, and inferior, 7 3-Bd. to lid.; bull, stag, Bid.; yearlings, 93d. to ll!d.; calf, superior, 13Jd. to 14Jd.; calf, medium-good, 12Jd. to 13 3-Bd>; calf, damaged, 6d. to 12id. ' Tallow.—ln casks. 295. 9d. to 335. 6d.; in tins, eto., 225. to 30s. BANK OF ENGLAND RETURN. Australian-New Zealand Cable Association. (Rec. December 8, 9 p.m.) London, December 7. The Bank of England return issued for the week ended Wednesday, December 6, is as under:— Issue DEPARTMENT. Note Issue £72,682,000 Gov. dobt ... ill ,015,000 Other securi- , ties 7.434,000 Gold 54,233,000 £72.682,000 £73,689,000 Banking Department. Proprietors' Gov.securicapital £14,653,000 ties £42.188,000 rabliode- Othorsecurlposits ... 68,717,000 ties 106,760,000 Other deposits ... 108,946,000 Notes 34,824.000 Rest, 7-day and other bills ... 3,"56,000 Coin 1.710.000 £185,472,000 £185.472,000 The leading items of the Bank of England return afford the following comparison Tbiß week Last week Lastyear Bullion 64,'233,000 64,284.000 50.136,000 Reserve - ... 36,684,000 36,837.000 34.567.000 Note Circulation 87,858,000 37,656,000 34,155,000 Public Deposits 68,717,000 57,237,000 62.444.000 Other Deposits 108,946,000 109,269.000 90,010.000 Proportion ot reserves to liabilities -21.70 22.26 24.26 GOVERNMENT SECURITIES. The following are tho latest quotations for Consols and Colonial Government Securities in coihparison with those ruling last week:—

MONEY MARKET. Tho BSnk of England discount rate was on January 2, 1914, reduced from 5 to <U per cent., on January 22 it was reduced to 4 per oent., and on January 23 3 per cent. On July 30 tho rate was raised to 4 per cent., and on< July 31 it was raised to 8 per ccnt., and on August 1 it was furtlior advanced to 10 per cent. On August 6 tho rate was rcduccd to 6 per cent., on August 7 it was further reduced to 5 per ccnt., on July 13, 1916, it was raised to 6 per cent. OPEN MARKET RATES. \ The open market ,discount rato for three months' bills is 51 per cent., as compared with 5 9-16 per ccnt. last week, and 5J per cent, last year. Short loans are quoted at 5 per cent., as against 5 per cent, last week and 3 3-8 ■per oent. last year. COLONLVL AND OTHER PRODUCE. Butter.—Very firm. Business restricted owing to. short supplta. Danish, about 2225. Australian, practically cleared— Choicest salted. "®)6s.. 2085.; unsalted, 2.125. ; lowor grades, 1945„ 200 S. New Zealand, none offering till 6.3. Itimutaka discharges. Argentine, unsalted, 2045., 208s. Cheese—Firm. Canadian, 1265., 130s. Retailers aro apprehensivo about supplies, fearing that the Government will release very little. Wool.—Tlio Bradford market Is absolutely disorganised. There is nothing doing, and quotations aro impossible. Tho market closed with a. rather more chcerful tone after an influential confercnco, at which all sections were represented, had passed a resolution similar to that passed in London last Friday. At tho meeting, a, well-informed speaker said that sales would bo held" next week, and would continue to be held for wools which the Government did not require. Wheat.—Firm. Market quiet. ' Flonr.—Firm. Australian patents, 595. 535. 6d. l'eas—Firm. New Zealand maples. 48b. Beans.—Strong. No New Zealand offering. Oats.—Market hardening.' La Plata, none offering. Sugar.—No change. TIIE METAL MARKETS. Copper.—Spot., £152 lte. per fori: threo months. £143 10s.; electrolytic, £167 10s. Tin.—Spot, £185 12s. 6d.; threo months £188 12s. 6d. Lead.—Spot, £30 10s.; three months '*£29 10s. Spelter.—Spot. £58; threo montTis, £55 liar silver—36J,d. per oz. standard

■ Variation compared i3t00k Price. with last week. 21'o Imperial Consols £ i'n . 3j„ War Loan. 5 A]° " Ms ower ■ 41 ..War Loan | ® ate lower 4 „ N.8.W.1933 Jan-July S ft® JOs lower 31 „ N.S.W.1930-50 Mr.-Sp 55 K ?, 5e |?wo* 31 „ N.S.W. Eally Curr. SS 2 ? HS'^angefl 3 „ N.8.W. 1925 Apl.-Oot ,2 5 lower 4 „ Vic. 1920 Jan.-July SJ n 31 „Vio. 1921-6 Jan.-July fr 2 S 5™.-'°"®* ■34,. Vic. 1920-1949 -Si" 2 $/6 'owir 3 „ Yio. 1929-49 Jon.-Jly j? " S 31 „ S.A. 1916 Jan.-July ?} J„ n in i™«J 3 ,,S.A.1916Jaai,July S g &'C„V % 0 C 0 ° 4 „ N.2.1929 llay-Kov. 84 7 6 Be hK 31 „N.Z. 1912-40. Jan.-Jly n 15 0 Ms lower 3 „N.Z.1920ADril-0 0 t. 63 6 0 r« lowef 31,,W.A.191M5My-Nv 76 a „ Ranged 3 „ W.A.191W5 My-Nov 70 0 0 6s lower 31 „ Tas. 1920 Jan-July 71 0 0 33/6 low er 3 „Tasl92M0 Jnn.-July 65 0 0 20s lower