COMMERCIAL ITEMS

Dominion, Volume 12, Issue 287, 30 August 1919, Page 10

COMMERCIAL ITEMS

INVESTMENT SHAREB. 'Yesterday's quotations for investment shares were as follow;— . • Buyers. Sellera. "■ £ s. d. £ b. d. National Bank — 610 0 Bank N.Z. (£3 fe. 8d.)... 415 0 Bank N.Z. (£6 13b. 4d.) ... - 19 2 6 National Insurance 4 3ft — IT.Z. Insurance ........ 110 9v — S.B. Insurance — 9 0 0 N.Z,..Refrigerating 4 9 0 — Meat Export (£2 12s. 6d.) 3 5 0 — Huddart-Parkor (ord.) ... — 2 9 6 Westport Coal — 19 6 Leyland-O'Rrien Timber .17 9 — Tarinfcamutu-Totara. — 110 Colonial Sugar 25 0 0 — ' Golden Bay Cement ...... 10 0 — N.Z;, Paper Mijls 18 0 — Wilson's Uement 0 16 2 0-16 4 Inscribed Stock — 96 7 6 5 per cent. P.O. Bonds ... S8 0 0 - " ' CUSTOMS REVENUE. Customs revenue collected at the port of Wellington yesterday amounted to £5073 lis. Ud. BANK OF ENGLAND RETURN. ' (Bee, August 29, 10.10 p.m.) London] August. 28. ■ The Bank of England/ return for the week ended August 27 is aB follows :- Isbdh DI'PABTJIENT, Not«s issued £79.800,000 Gov. debt... ai,015,000 ... . Other securi- '• ' Notes in ties 7,434,000 reserve 24.843.001 l Gold 60,194,003 £104.613.000 . £'104,643,000 Banking Department. Proprietors' Gov. securicapital ...£14,553,000 ties ... £20,765.000 Public do- Qther securi- ' posits ... 23,261,000 ties 70,569,000 Other de- - posits ... 94,918.000 Notes in Rest, 7-doy reserve ... 24,613,000 and other Coin in bills ... 3.516.000 reserve ... 2,051,000 £136,248,000 £136,243.000 The leading items of the Bank of England return afford tli9 following comparison;— This week' Last week Lastyear £ £ £ Bullion .... ...■ 86.194.0<X) 56.158.000 68,886.000 •Eoßerve 26.894.00u 27.218,000 30.382.000 Note Circulation 79,800.000 70.501.000 57.813,000 Public Deposits 23.261-000 23,397.000 3 4,918,000 Other Deposits 94,918.000 05.210.000 136.110.000 Proportion ol reserves to liabilities , 2-2.75 22.04 ,17.76 GOVERNMENT SECURITIES. Following are latest quotations for Imperial and, Colonial Government securities:

| MONEY MAEKET. The Bank of England discount rato on January 12, ' 1917, was 5J per cent. On April £ it was reduced to 5 per cent., at which figuro it lias since stood. OPEN''MARKET KATES. The open market discount rate for three months' bills is 38 per cent., as compared. with 33 per cent, last week, and 3J 34 per cent, last year. Short loans are quoted at 3J per cent., as against 3.1 per cent, last "week, and 31 per ceilt. last year. COLONIAL 'AND OTHER PRODUCE. Honey.—The demand is improving. Somo Australian sold at Gss. Wheat.—Quiet. Australian parcels on pasHago sold at 61s. There have been small silica on spot at 67b. 43d, Flour.—Small demand; unchanged. Oats—Dull. ' Means.—Slow. Peas—Slow. Now Zoaland maples, 1455.; New Zealand and Tasmanian Ivory, 160s. Sugar—Unchanged. LONDON METAL MARKET. By Telegraph—Frcss Association—Copyright Londoii, August 27. Copper.—Spot, £98 15s. po l'ton; three months, £99 15s. per ton; electrolytic, £115. Lead—£24 15s. per ton. Spelter.—£33 10a. (spoft and £39 10s. (forward).

Tin. —£27115 a. (spot), and £267 7a. 6d. (forward). Bar Silver.—sßJd. per oz. standard. The Chinese have ceased buying. LONDON SHARE MARKET. (Eeo. Aug. 28, 10.10 p.m.) , London, August 28. • Wailii shares are quoted at 455. (bus'ers) and 475. 6d. (sellers). AUSTRALIAN PRODUCE. By Telegraph—Press Association—Copyright ' Sytiney, August. 28. , Oats, Algerian, feeding, ss. 6d. 10 ss. Bd. per bushel; milling, 6b. vd.j Tasmnnian, 6s. 3d. to 6s. 6d. Barley, Cape, sa. to 6s. 3d.; maize, 7s. 6d. Potatoes. I'asnmniau, £18 per ton. Onions, £13 10s. to £15. Adelaide, August 28. Oats, 4s. 10Jd. COMMONWEALTH TRADE.' The overseas trado o£ the Commonwealth of Australia for the year end.ed June' 30 last, shows that the exports tolallod. £112,648,34/, and the imports ; £"98,791,320, the excess of exports over im:ix>rts being £13,807,027. Of th§ exports lVew South Wales accounted, for 44.7 per cent., and the same State* accounted lor 44 per cent, of the imports. Victoria, accounted for 24.7 per cent, of the exportß and 39.2 per cent, of the imports. Oil the year's ligures Victoria showed an excess ui imports amounting to £10,915,137. . MORATORIUM BILL. It is generally agreed' that the mora/torium must be extended, but opinions are likely to differ' as to the length of time that should bo given mortgagors. Obviously it cannot be ono fixed period, because that would mean that alt mortgages affected would mature on the iixett date, and thai is just what everyone wishes to avoid. In Australia thero is being experienced the same difficulty, and it is suggested there that the onus of proof that an extension .of time is wanted should be borne by the mortgagor and not by the mortgagee.' In other business transactions the borrower always makes his wants known, and a similar course, it is urged, should bo adopted with respect to the moratorium. It is also suggested that all concerned would benefit if the methods of adjusting any differences of opinion were simplified, as many of tho lenders are persons of relatively Bmall means, and they, are affected, by the increase in the cost of living as well as the borrowers.

STANDARD INSURANCE 00. Tfco annual report of the Standard Firo S l 4 Jlariue Insurance Company states that the net income for the year ended Ju ° e 1919. amounted to £155,248 19s. 7d„ and the expenditure to £123,»M95. 3d., leaving a balance of £26,654 Os. <!d„ io which has to be adiied the balance carlied forward from -last year, viz., £17,C62 Ma. 7d„ makine a total of £43,716 14s. lid. i? i 11 8 . an luteril n dividend was paid in March last amounting to £6250 leavinr an available balance of £37/66 'ife 11<l 3tor . 8 t m°m me nd that the balance be appropriated as follows:—To pay a if lTld <S nd at the rato oh fi. per ni?i (t ° r . 'he purpose of meeting the call _ made by- tne directors as set out With 1 thl f r l 2 fbarcholders enclosed In L 5 le P.M'and balance-sheet, £26,000; June 30 lM Tl jf? n ?i, for . half -y ear ending 148 X lld ea pulf nl 6 I J d ' : total, f37 '' 166 ...» ■ Fu " P ro vwion has been made in the accounts for all ascertained losses to s 3d ycar - Tlle dhiS of i™. ' J share, now recommended if payable at thn Bharell , old ™> will'bo. dSelv oft„r th co^a "y a offices immea ateij after the annual meeting and at branches on receipt of advice m at ae °rse Penwick and Mr. ifenry W }' 0tl f? ? r . om the directorate a nro tiT'afS®' 5 hifflsel f re-elec-

V Q,.„ir' l'bis Last , stook Week Week . EJ% Imperial OonsolB f s. £ V 1 .', 5 „ War Loan !' '' 31 ..War Loan ° 6J „ Aus.-Oommonw th 6b W jj us 10 0 6J ,, Aus.-Commonw th / yn j fi a «»0 BMO ? i n, t 71 15 0 71 150 5 „ N.S.»V. lS/.J-ApI.-Oct ug „ |j |i8 2 6 K Vic. 1920 Jan.-July gy 98 10 0 31 „ Vic. 1921-6 Jan.-Jnl.v $ J $ o u 31 „ Vic. 1920-1949 i 71 0 0 3 „ Vic. 1929-49 Jan.-Jly }" o 62 15 0 31 ;,S. A. 1916 Jail .-July 74 0 0 73 10 0 3 „ S.A. 1916 Ja».-Jnly 5g 10 0 68 17 6 4 „QTd 1915-24 Jan.-.Tiy 91 0 0 '0110 0 31 „ QTdl922-47 Jan.-Jly gg g g 00 17 6 3 „ Q'l'd 1922-47 Jan.-Jlj C2 5 0 63 10 0 . 4 „ N.Z. 1929 llay-Nov. 86 15 0 B6 15 0 31 „ N.Z. 1912-40 Jan.-Jly 7-3 5 0. 72 5 0 J „ N.Z. 1920 April-Oct. 65 (J 0 61 15 0 31 „ W.A. 1515-35 My-Nv 76 ]0 0 77 0 0' 3 „ W.A. 1915-35 My-Nor 73 (I 0 72 0 0 31 „ Tae. 1920 Jan-July 72 12 6 72 17 6 3 „ Tas 1920-40 Jan.-Julj 70 O 0 70 0 0