COMMERCIAL.

Daily Telegraph (Napier), Issue 3596, 20 January 1883, Page 2

COMMERCIAL.

THE SHARE MARKET. Mr W. G-. Motley reports upon the operations of the share market as follows :—- Since my last report the market in permanent stocks hits remained quiet, clients not caring- to invest pending the floating of the New Zealand loan. From the fact of the loan having heen successfully floated, together with the reports of an abundant harvest and a good wool clip throughout the colony, ; there is no doubt the banks will be compelled to relax the present strain upon their customers, and the consequence will be that a substantial rise will take place in all permanent stocks. Speculators will do well to invest at present prices. Since my last report I have effected sales of National Insurance at 25,'-, South British at -37/-, and Napier Gas at £10 (cum div.) ; the latter stock has been freely enquired for at £9 15 -, buyers giving way to the sellers in consequence oi there being so few shares offering. Sellers are now asking £10 15s, (cum div.)- Petroleum shares are quiet. 1 quote sales Pacific Contributors 23, Promoters 5,6. At tho South Pacific works the first bore of 165 feet has been lost owing to it fault in one of the pipes, and a second bore has been commenced. Tho latest report from the Southern Cross Company states that the shaft was down to 205 feet, and oil showing at the bottom. The following are my latest selling quotations :— Banks. —New Zealand, £23 ; Colonial, •17/6; National, 77/-. Insurance. —New Zealand, 77/- ; Accident, 5/6 ; National, 20/- ; South British 57,0, new issue 2/- premium; Standard, 15/-; Union, 20-. Miscellaneous. —Napier Gas, £10 15/-, new issue 10/-; Drug, 21,'-; Loan and Mercantile, £6; New Zealand Shipping, 07,0; Southern Cross Petroleum, 2, (J ; Pacific Promoters 5/6, Contributors 2/1; Mosgiel Woollen Factory, 83/6 ; National Mortgage, 32/6 ; Northern Investment Co., 2-V-[by cablk.] London, January 10. The total reserve in notes and bullion in the Bank of England is £11,400,000, an increase of £900,000 since last Thursday. The proportion of reserve to liabilities has advanced to 40 per cent. The bank rate of discount remains at 5 per cent, and the market rate at 3;J-. Consols, 100,]. New Zealand securities are i.firm at last quotations. Adelaide wheat remains at 46s to 40s, ex-store, and new Zealand ditto at 41s to '17s ; Adelaide flour, ex-store, 38s. Australian tallow, best beef best mutton 45s per cwt. Sxdxey, January 10. New Zealand wheat, per bushel, 4a; New Zealand oaty, 3s 3d ; maize, 4s 9d ; sugar, Company's No. 1 pieces, per ton, £35. Adelaide, January 17. Wheat is quieter at 5s ; town flour has declined to £11 10s to £12 per ton, and country brands £10 7s 6d to £11. Freights to London, sailing 17s. The freights market is dull.