COMMERCIAL ITEMS

Dominion, Volume 10, Issue 2976, 13 January 1917, Page 12

COMMERCIAL ITEMS

INVESTMENT SHARDS. Yesterday's quotations lor investment shares were as follow:— Buyers. Sellers, xr 1. 1 T. £ s. d. £ s. d. National Bank 4 18 5 ~ Bank N.Z. (£3 6s. 84.)... 10 19 0 ' — Bank N.Z. (£6 13s. «.)... 16 17 6 - Christchurch Gas (£5)... — 6 15 6 S. British Insurance ... 5 2 0 — N.Z. Eefrigerating Co. (£10) '. 20 0 0 — Union Steam (ord.) 2 16 _ Well. Woollen (pref.) ... 3 14 0 — Leyland-O'Brien 12 9 — Ward and Oo — 5 18 0 Manning and Oo i.;. — i t> n Sharlond (ord.) 16 6 — Customs duties collated at tho port of Wellington yesterday amounted to £8182 10s. id. TRUST AND LOAN CO. THE PAST YEAR'S OPERATIONS. The report and balance-sheet of the Wellinstoa ;Trust, Loan, and Investment Company, Ltd., for tlie year ended December 31, 1916, shows that the sum to tho credit of profit and loss on tho year's ee l her too amount of £3722 13s. 4d. brought forward from tho previous jear, amounts to £16,136 $s. 3d. from,-which £5625 has been paid as an jntenm dividend. Tho directors recommend that a further dividend of £5625 bo declared on tho paid-up capital for tho half-year ended Decembor 31, 1916 (mak9, Per cent, for tho year), and that £1000 be added to tho reserve fund from the profits, mailing the latter £67,000 leaving tho sum o£ £3886 Bs. 9d. to be carried forward. During tho year, owing to privato reasons, Mr. J. P. Maxwell found it necessary to retire from the hoard. Tho directors express appreciation of his long and valuable services in tho interests of tho company, both as chairman and director. Thop also deplore the doath reoently of Mr. Charles Tringham, a former director for many years. Dr.. Newman has been appointed to the chairmanship, and, during his absonce in England, Mr. J.-, A. Pliramer has been aoting-chairman. ' Mr. O. S. Watkina has been appointed to tho vacant seat on tlio board. Tlio tctiriu** directors, by rotation, are. tho Hon. Sir James Frondcrgast, Kt., and Mr. J. A. Plimtner who, being eligible, offer themselves for re-election. Tho auditors, Mossrs. O. P Powlos and Ernest W. Hunt, offer themselves for rc-clcction. EQUITABLE BUIIiDING CO. Tho balanco-shcct and report of tho Equitable Building and Investment Company for tho year ended December 31, 1916. ivas circulated yestorday. Tho report 6tatcs that tho profit "for 1916 including tho amount brought forward.' was £10,942 17s. lOd. Of this an interim dividend, absorbing £3000, was paid in July last. This leaves £7942 17s. lOd. for appropriation, which the directors rocoinmend should bo allocated as follows:—To reserve fund, £1500; to payment of further dividend of ss. por sharo, £3000; and to carry forward tho balanco of £3442 17s. lOd. In August last tho board subscribed for bonds in tho Now Zealand War Loan of tho value of £5000. The retiring directors nro Messrs. D. Anderson and D. M'Lean, ■ who oiler themselves for reelection. The retiring auditors aro Messrs. 13. Bucliolz and O. S. Watkins, but the latter is not seeking re-election. NEW SEASON'S WHBAT. By Telegraph—Press Association. Christchurch, January 12. Several samples of the new season's wheat have bccu submitted on tho market, but merchants and millers aro in doubt as to what to offer or growers to accept in viow of tho uncertainty of tho position, pending a decision as to how tho crop is to bo dealt with. Offers of ss. 6d. at country stations have been made, and in one caso it war accepted, and in anothor tho grower Btated that he had got a littlo more money. Oats are beginning to come in a littlo more freely, and the chief demand is for good Algerians for sowing for feed. Tho ruling quotations for heavy Algerians is 20. Bd. 1 to 2s. 9d.; Gartons, 2s. 7d. to 2s. Bd.; and Duns, 2s. 6d. to 2s. 7d. The prass seed ■ market is somowhat easier, owing to tho largo offerings, and tho fact that srnno I orders in hand havo been filled. Tho range of prices is about as follows:— 1 Perennial. 231b to 241b., seed, 3s. 3d. to 1 Jd. 4d.; light-weight, 2s. 6d. to 2s. 9d.; ] Italian, 3s. to 3s. 6d.; Wostcrmvolths and Giant Italian, 3s. 4d. to 3s. 8d„ at country < stations. Tlicro is practically no demand i for light seed. , AUSTRALIAN PEODUOE MARKETS. BvTelcsraDh-lYeSfl Aasociation-Copyrizit Melbourne, January 12. ] Oats, milling, Algerians 2s. ljd. to 2s. i 24d„ feeding Is. 10d. to Is. lid.; maize, 3s. \ 8(1. to 3s. 9<!. : potatoes, £4 to £6; onions, j £9 to £9 10s. i Adelaide, January 12. j Oats, Is. 9d. f 1 I3ANK OF ENGLAND RETURN. i Australian-New Zealand Cablo Association. (Roc. January 12, 5.5 p.m.) London, January 11. Tho Bank of England return issued for

tho week ended Wednesday, January 10, is as uniior.— Issue Department. Noto Issno £72,194,000 Gov. debt ... £11,015,000 Other Bccurities 7,434,000 Gold 54,015.000 J.73.49J.000 i -72,104.000 BANKING DEPAOTSIENT. Proprietors' Gov.socuricapital X 14,553,000 ties x42,ci51,000 Public do- OUiereociin--1 posits ... 40,5a,000 tics 120,374,000 °posits C - 130,246,000 Notes 33,477,000 Rest, 7-dfly nnd other . bills ... 3,155,C00 Coin M21.0Q0 £'107,756,000 X 107.7:,0,000 The leading items o£ the Bank of Bng]and return afford the following comparison This week Lost week Last year Jlllllioil 51.045.000 53.r35.000 51.019.000 Reserve - 31,808.000 33.5U.000 35.413.000 Noto Circulation 30,017,000 39,b95,000 34.338,000 Public Doposits 49.520,000 53.147,000 ;,y.553.C00 Other Deposits 130,210,000 117.388.000 104,070.000 Proportion of Vcserves to _ liabilities 19.il 13.75 --.16 GOVERNMENT SECUBITIES. Tho following are the latest quotations for Consols and Colonial Government Sconritics in comparison with those ruling last week:— Variation , compared ■ Slock Price. witli last week. 25% Imperial Consols f, \ , 51,.WarLoan ?.| S ° £s lower 4 „ War Loan $,2 " higher 4 „N.5.W.1!»3 Jan-July S{? « S! ?' sher 3J„N.5.W.1930-50 Mr.-!ip S',. , JJ „ N.S.W. Eai'ly Cnrr. Z a o l°« s , h sllel J 3 „ N.S.W. 1925 Apl.-Oct ™2 ° b l° wer . 4 Vic. 1920 Jan.-July m n n P n^^ nSe 3J„ Vic. 1921-6 Jan.-July j 2 S S 2 vii»miwg « 0 V/ 6 lower 3 Vie! 1929-49 Jan.-Jly ™ 3i„6.A. 1916 Jan.-July ijq £ 3 „ S.A. 1916 Jan.-July ° ?£^ 0 e . 4 „Q'l'd 1915-24 Jan.-Jly £5 J .J" B'®*8'®*® 1 3i„Q'1'4t922.47 Jan.-Jly $10 6 J ~Q'l'd 1922-47 Jan.-Jlj 52 a n k b l o ™ . u" v 7 525? 61 M ° '°°™ r J^! y 7310 0 Unchanged , 3 , "N-Z- 63 2 6 10s lower T i "w r i , «si«v y 'S T 75 °- 0 7/6lowor 3 „Yf A. 1915-35 My-Noy 69 lo 0 10s Tower 3» „Ta5.1920 Jan-July 71 0 0 Unclmnsed 3 „ Ta-s 1920-40 Jan.-July 65 0 0 Unchanged MONET MARKET. The Bank of England discount rate was on. January 2, 1914, reduced from 5 to 4J per cent., 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.ivas further advanced to 10 per cent. On August I 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. j OPEN MARKET HATES. The open market discount rato for three months' bill is 5 per cent., as compared with 5 9-16 per cent, last week and 5i per cent, last year. Short loans are quoted at 45 per cent., as against 45 per cent, last week and 4i per cent, last year. COLONIAL AND OTHER PRODUCE. Butter.—Danish, firm at 2165. to 218s. Heavy arrivals of colonial have depressed tho market. Ohoicest Australian, salted 2005., unsaltcd 2025. to- 2045., secondary 190s. to 1985.; New Zealand, salted, 2025. to 2045. Cheese— Strong, Canadian, 1345. to 1405.; United States, 1545. to 1365. The Government has agreed to pay 9>d. for first grade Australian, and 9Jd. for second grade cheese. Flour is firm. Australian patents, 585.6(1. to 695. Oats aro firm. La Plata, ex ship, 475. 6d. Beans and peas aro steady iat full prices. Sugar is steady and unchanged. METAL MARKET. Copper.—On spot, £130 ss. per toil; tlireo months, £127 55.; electrolytic, £139 10s. Tin.—On spot, £182 17s. 6d. per ton; threo months, £184 12s. 6d. Lead—On spot, £30 10s. per ton; forward delivery, £29 10s. Spelter.—On spot, £49 ' ss. per ton; forward. delivery, £44 15ff. Silver.—Bar silver is quoted at 36£ d. per ounce standard.