COMMERCIAL ITEMS

Dominion, Volume 12, Issue 17, 15 October 1918, Page 8

COMMERCIAL ITEMS

j. ..INVESTMENT'SHARES; I A sale of Kauri Timber shares (15s. paid) it-43e.,\ was reported yesterday. The quoaa follow:—. , I ■■ '■ ■ . 'Buyers. Sellers, I -~: . .;.'.. ..-, £,s.d. £s.d. Bank' NiZ. , told)':, ...13 ,7 0 v.Rational- Mortgage ... .4;7 6 ...'—". Well. Trust and Loan ... 513 6 — Auckland Gas (paid) 17 7 — Veil. Gas (£10) : - 1115 0 fell. Gas (pref.) ....; 017 3 018 0 National Insurance 3 7 6 3 10 0 !<[eat iixport l£5J 5 0 0 6 4 0 Meat Export (£4j 3 19 6 4 10 Heat Export (525. 6d.) .„ - 2110 auddart-Parker (ord.) ... - 2 0 8 Kaiapoi Woollen (ord.) ... — 717 0 ffesivort Coal ..: 111 3 .— iVeatport-Stockton — 0 9 0 Kauri -Timber/USs.) , 0 12 9 - Leyland-O'Brien .17 6 - Caringamutu-Totara ....;.. 1 .0 6 — garland and Co. 1 9 1 — tf.Z. War Bonds, 1938 ... ,- 97 15 0 f Customs dutiee collected at the port of Wellington yesterday amounted ■to £3767 18s.'. 4d. j BANKING.RETURNS 1 The banking-returns for the third quarter'of the'"year.'..wh'4ri compared with the iorreeponding quarter of last year, exhibit icjne adverse movomentsi-.which may easily exaggerated- by those- inclined .to be (iQssimistib.. The advances exhibit an enortnoue expansion,' while the free deposits hiivo increased by -.a" small amount, and [lie fixed deposits have decreased. The principal items ia the returns show the following variations:— , ■ ! I Govt. deposits, increase 1,586,842 j'Free deposits,. incrqase 78,424 ! fixed deposits, decrease • 15,854 ■■ IJiscounts, decrease 64,523 I Advances, increase .7..... 3,285,704 j Circulation, increase ■: 584,463 I Coin and bullion"; decrease 1,700,262 ' The increaso'>ln*'th6-. Government deposits ie very .'substantial, yid w no doubt due to loan .money and to expansion in revenue, and■ nerhnps denosils. on account -of Imperial purchases may have helped to swell fhe figures. The seve'tal classes of deposits are .compared in the tublfi appended;— I : Sept., 1917. Sept., 1913. peposite. ' . '■£ . - £ .£■■ Govt. •: 7,425,712 9,012,554 1,586.842 inc. Pre V;.•.■ 21,567,821- 21,646,245 73,424 inc. Ifixed 14,139,815 14,123,961 15,854 dec.

! : . '•■. 43,133,348 44,782,760 1,649,412 inc. Tlie- increase in the free deposits is very small,' while the fixed deposits have shrunk by £15,854. This shiinkage. is rather favourable than othenvjee, for it means that the owners have found other übo for it than leaving it lying in tho. bank. The phriukage may be <»-n 'to tho withdrawal pf patriotic or Red Cross deposits. The movements in tho free deposits, as they jaOect the several banks, are disclosed in the table appended:— <:'■ ■ '■'■ Sept., 1917. Sept., 1918. (.Bank. £ £ £ W. Zealand .. 10,452,240 10,286,910 165,330 dec. Union. '2,930,594 2.820,820 109,774 dec. N.B. Wales ..." 2,604,453 2,562,642 41,811 dec. Australasia . 2,255,157 2,479,480 184,343 inc. National 3,056,676 3,193,207 136,531 inc. Commercial .. 228,721' 303,186 74,465 inc. j - : 21,567,621 21,646,245 78,424 inc. jThe Bank of Australasia and the National Bank show large increases, whilo the Commercial Bank is steadily building tip its business. The movements in the fixed deposits arc shown in the table following :- ! ■ Sept., 1917. Sept., 1918. ■■' : Bank. £ £ £ N. Zealand .. 7.067,643 6,941,319 126,324 dec. .Union 1,653,288 1,658,443 5,205 inc. N.B. Wales ... 2,275,387 2,252,745 , 22,642 dec. Australasia .. 1.037,601 1,103,448 65.847 inc. National 2,037.422 2,063,774 26,352 inc. . 68,524 104,232 35,708 inc. j 14,139,815 14,123,961 15,854 dec. |Tbe Bank of New Zealand has lost both ;in free and fixed deposits, and the Bank of New South Walesa has also lost in both 'classes, while the Bank of Australasia and (National Bank show gains iu both classes ;of deposits. Taking the aggregates of the -free and fixed deposits for tho September [quarter of each .of the fivo years we get ! tho following:— i • Free Fixed • Total- : Sept. deposits, deposits, deposits, quarter. £ • £ £ ■ 1914 14,172,777 10,828,887 25.001,664 I 1915 17,545.363 11,609.056 29,154,929. j 1916 ...; 19,620,671 12,978,629 32.599,300 i 1917 21,567,821. 14,139.815 35,707,636 ! 1918 21646.245 14,123,961 35,770,206 ■|It will be seen that for the first time the i deposits show'a verv small increase, the (actual increase for the year being £62.570, :as against an increase of £3,108,336, shown llast year. The advances as already stated liucreased by £3,285,704, nnd all the nanke iwcre freely drawn upon as tho tablo apipended shows.•- ; • - . Sept., 1917. Sept., 1918. Inc. Bank . £ £ £ ■■N. Zealand 12.761,657 14,553,047 1,791.390 !r..10i. 3.996.651 4.123,931 127.280 INS Waics 3.156,218 432.951 (Australasia 2,912,090 3,4i1.9'W 529,830 M a ti ona l 4.077,807 4,353,140 275.333 {Commercial 213,568 342,488 128,920 f\ . ' ."27,117,991 30,403,695 3,285,704

Tho discounts totalled £1,242,937, as against £1,297,460 last year, a decrease of £51,523 thus beinff shown. The net increaso in tho accommodation gicen by the banks as compared with last year was thus £3,231,181. ■Bank advances make bunt deposits, but tho. net. increase in the latter is only £1.649,412, including Government deposits, one) tho balance appears to have been sent out of the country, for there ia a shrinkage of £1,700.262 in the amount of tho coin and bullion. If this bo added to tho' deposits the total is £3.349,674, ncainst advances amounting to £3,231,181. If we take tho agaregate of the fixed and freo deposite on tho one hand, and the advances and discounts, on the other, the excess of the one over the other is shown in the table appended.— ■■■: Excess of '■[■ Sopt: • Deposits. Advances, depnsite. quarter. £ . £ £ 1 1914 J.... 25.0M.(;64 24.463.576 539.0P8 1915 29.154.929 23..V8.906 5.806.023 ■ 1916 32 599,300 24.677,9s 7.92).335 1917 35.707.W6 2E.415.451 7.292.105 1518 35,770,205 31,646,633 4,123,574 The figures show war prosperity en.ioyed by the country in the growth of the deposits, while the expansion in the advances in the past two years illustrates the result of difficulties in shinning produce. We have now to denl with the circulation and the coin and bullion, and these are shown in the table below:— Sept. Circulation. Coin, etc. quarter. £ £ 191.4 2.(H5!.5«9 5,823.575 . 1915 2«m» 7,002 989 1916 4Tm«SJ 7.4 M.250 1917 5 fSft 881 9.847.060 1918 ; 8.146,798 The note circulation has increased by £534.463. thus testifying to th». continued prosperity of the country 'Vid the buoyancy, of domestic trad". Coin and bullion hive decreased by £1.700,2% which is the first adverse movement wo have had under this head for some lime. LONDON MARKETS. Australian-New Zealand Cable Association. London October 13. Eubber.— Parj, 3s. 2d. ner r.ound; plantation, 2s. 4d . smoked. 2i«. 3(i Business is restricted owing to the Government announcing that it may bs necessary to fix maximum prices and disallow all forward contracts. Heap.—Thi market, in quiet; and prides haro'undergone no chanee.