COMMERCIAL.

Sun (Christchurch), Volume I, Issue 108, 12 June 1914, Page 10

COMMERCIAL.

THE MONEY MARKET. BANK OF ENGLAND RETUBN. % i 4}y Cable. —Press Association. —Copyright. (Received June 12, 11.50 a.m.) LONDON, June 11. 'The Bank of England return issued for 'the week ended Wednesday, June 10, is as -'under:— ISSUE DEPARTMENT. v -Votes, Gov. debt £11,015,000 iSßued £28,695,000 Other seKotes' in cuiSties 7,434,000 reserve 25,045,000 Gold 35,291,000 „ ' '• - £53,740,000 £53,740,000 BANKING DEPARTMENT. Troprietors' Gov. secucapital £14,553,000 ritieß £11,047,000 JPabli<i de- Other secuposits 16,999,000 rities 38,656,000 Other do- Notes 25,045,000 Ttosits 41,678,000 Coin 1,645,000 ."Best, 7-day and other 3,163,000 £76,393,000 £76,393,000 The leading items of the Bank of England afford the following comparisons:— » . '/■ Increase or v - Increase or ' decrease on decrease on ! Amount. last week." last year, £ £ £ 'Bullion 35,291,000 «972,000 f986,000 \ y Note circulation 28,695,000 + 299,000 *306,000 :Besefve r 26,690;000 *1,242,000 +1,220,000 , .Deposits 58,677,000 f 1.236,000 *4,717,000 - Proportion . of reserves * to liabilities 45.50 *3.04. t6.23 ♦lncrease. t Decrease.. By Cable.—Press Association. —Copyright. (Received June 12, 11.50 a.m.) LONDON, June 11. ? The underwriters receive 88 per cent.

* ««f the Canadian loan.

/HOME QUOTATIONS. < 4 . (Received Jutte 12, 11.50 a.m.) LONDON, June 11. ■ v ' Waihi sharesj 41/3' to 43/9, Junction, 25/6 to 26/6. ' "Talisman, 35/- to 40/-. ' ' THE WHEAT MARKET. LONDON, June 11. Wheat: The market is slow and in favour; 27/3 is offered. AUSTRALIAN PRODUCE. SYDNEY, June 11. Wheat," 3/lOf to 3/1 L Flour, £8 5/to ,£8 7/6. Oats, Algerian feeding 2/6, milling 2/7 to 2/9. Barley, English, 2/6. Maize> 3/9. Bran and pollard, £0 5/-. Potatoes, Tasmaxiian, £6. Onions, Victorian, £7 to £7 10/-. Butter, selected 116/-, f secondary 100/- to ,104/-. Cheese, 9M. Bacon, B£d. ADELAIDE, June 11. Wheat, 3/11 to 3/11 J, Flour, £9 5/-. Bfan, 1/I*. Pollard, 1/3. 1 / MELBOURNE, June 11. . Hides: There was an average cataand a very firm market' all """" round. (Received June 12, 9.40 a.m.) MELBOURNE, June 12. TfThoat, 3/11 to 4/9; oats, 1/11 to t/li; baHey, English malting, 3/- to 3/3, Cape 2/2; maize, 3/6; bran, £5 10/■ pollard, £5 15/-; potatoes,! £3' to $4 3 0/" j onions, £6 10/r. 1

AUSTRALIA'S POSSIBILITIES. " '(Received .June 12, 9.40 a.m.) f ' , V/. . SYDNEY, June 12. The Commonwealth meteorologist has prepared diagrams showing that Australia is capable of producing a thousand million bushels of wheat annually. The present production is one hundred million. . > LONDON MARKETS. The New Zealand Loan and Mere'aatile Agency Company, Ltd., have received the following advice from London:—Tallow: We.quote spot values for the following descriptions of tallow:— Fine mutton i>s/-, good beef .315/3, mixed ■ 50/3; market dull. Sheepskins: Antici ' pate good demand; market firm. Messrs Dalgety and Company, Ltd., have received the following cable from their jLondon office, dated June 11: Frpzeh in eat market unchanged since . our last wire. ' ' FARM PRODUCE. There has. been very little . business taking place in the'grain market, and practically no change can be chronicled since last report.

WHEAT. The importations from Australia of late have had the effect of preventing any marked rise in the price of this cereal. Fowl wheat, however, still rev.'maias; fira?. Quotations are:—Pearl, S/8J Hunters, 3/7 i to 3/8; Tuscan, 3/7 to 3/71; and fowl wheat up to 3/5. OATS. A few small sales of oats have taken place, biit otherwise very little business is doing. Merchants have evidently filled their requirements for some time. Quotations are: —Prime seed Algerian to 1/9, ordinary 1/6 to 1/74, A grade Gartons to 1/8, B grade 1/6$ to 1/7, Danish 1/7, Bttns 1/7' to 1/84. BARLEY. As has been the case for several weeks now, barley is a drug on the market, and there is absolutely no demand from buyers. The nominal price remains the same, 3/3 for prime' -malting. CHAFF. , As yet no improvement has been re- * ' corded in the demand for chaff, the price for which still remains at 55/- at country'stations.' • - . . POTATOES. ; - It is expected that digging will be practically iSiixshed in fortnight, atd this should result in' a rise in the price, which at present remains steady. ' 'Beat sort#'..are bringing up to 55/- per / toil for immediate delivery. ; v ONIONS. - f There is a fair demaud for onions, for which £3 15/- to £4 per ton may be obtained. GRASS SEEP. - •'

Ryegrass is from 2/3 to 2/6, and inferior quality ranges from 1/6 to 1/9. Cocksfoot is unchanged, good seed •bringing 4§d and average samples «:M to sfd. White clover is worth 9d to lOd, and cowgrasa 7d to 73d. OTHER LINES. Linseed is worth from £9 to £9 5/-. No. 1 Partridge peas are quoted at ty> to 4/0/ being very scarce, and other

lines are in proportion. Prussians realise from 3/- to 3/3, and Imperials 3/- to 3/0. Beans are at 2/10. Bran is quoted at 5/- per ton, and pollaTd £6. Oatmeal £l2 per ton. Flour is now: Sacks £lO, 1001b bags £lO 10/-, 501b £lO 15/-, 251b £ll. DAIRY PRODUCE. Butter values now are as follow: — Factory prints lid, farmers' separator lid, and dairy lOd. Cheese. —Large dairy s§d, loaf 6d, factory large sfd to 6d. Hams are at 12d, sides 9sd, rolls 10} d, large llAd. Eggs are now 1/9 per dozen, supplies being scarce. Extracted honey 3jd, sections 4/6 per dozen. IN AUCKLAND. (Sunt Special.) AUCKLAND, June 12. POTATOES.

Arrivals of potatoes were light during the past week, and store stocks ara considerably lessened in consequence. The tone of the market is therefore much improved this week, although prices are still unchanged. The prospect of the potato market for the future is that higher rates must rule shortly, as southern holders show a disinclination to take on business other than for immediate delivery. Their attitude in this respect is wiarranted from the fact that the area under potatoes was not nearly so large in the south this season nor was the yield so good as that of the previous year. Local supplies, which up to now have kept the price down, are done until the new crop is ready, therefore from now on Auckland's requirements must be drawn from the south. The price still stands at £5 10/- per ton ex store.

broken weather has interfered considerably with farmers getting the ground ready, for potato planting. This work is somewhat backward for the time of the year. Demand for seed potatoes is now setting in, as the main crop l requires to be planted shortly. THE OAT MARKET. The oat market which showed signs of firming three weeks ago is now, if anything, a shade easier. The export trade to England, which was expected to absorb a large quantity of New Zealand oats, has not so far developed. The result is that holders are not so firm as they were, and are more willing to do business A little enquiry has set in for seed oats, but, like the potato crop, sowing has been delayed by the broken weather experienced. Australian. Algerian seed is worth 3/10 and double dressed southern from 3/8 per bushel. THE WHEAT MARKET. Prices for milling wheat are well maintained, but as far as transactions are concerned the local market has been very quiet since last report. FOWL WHEAT. Fowl wheat is very firm, as there is |at present some difficulty in securing lines of good whole grain.

; CHAFF. The local market is well supplied with chaff from the southern end of the North Island, and also, from Marlborough. The demand is fair, and present rates will most likely be maintained, but no advance is considered likely to take place in the near future. MAIZE.

Over 2000, sacks of maize came to hand daring the week by the .various. b6ats. % The market; which during the' period of short supplies had risen to 4/2, has now dropped to 4/-, at which 1 figure consignments were cleared, fair store stocks are still held. The Java lihHize is stated to be badly affected wyfcli weevil. This will no doubt check; further importations, as consumers decline to buy weevil infeeted maize. ONIONS. Stocks of onions are not so heavy this week, but this market shows no change.Both the demand and the quality are, on the whole, fair just now. Supplies are now entirely drawn from the south, but for August, September, and October supplies of Japanese onions have been secured at £lO 10/- per ton.

CHRI&TCHURCH STOCK EXCHANGE.

FRIDAY, JUNE 12, 1914

SALES REPORTED. " Talisman Mining, £1 14/6 and £1 14/9. TO-DAY'S QUOTATIONS.

AUCKLAND STOCK EXCHANGE. Press Association. AUCKLAND, June 12. Bases. —Watchman 2/5 2/4, Talisman 34/ 34/ti, Waihi 43/9, Junction 2(i/-.

DITNSDIN STOCK EXCHANGE. DUNKDIN, June 12 Sate*: Junction, 26/-, £<>/-.

Buyers. Sellers. BANKS— £ S. d. £ ». d. - N.Z. (fully paid) 17 0 0 17 7 6 BREWERIES— Ward • • .M'. ki: 5 0 0 5 0 6 GAS— Chris tchurch. 7 0 t— INSURANCE— ■New Zealand . * -•.? 6 9 6 MEATS— Cant. Frozen Meat : —• 9 5 0 i Christcliurch Meat Co. 16 7 3 16 12 6 SHIPPING— Union Steam Ship 1 •' 4 10 1 5 0 WOOLLENS— Wellington . • .. •— 4 12 0 MISCELLANEOUS— Bowron Bros. 0 7 0 — Cant. Farmers' Co-op. (Timaru) — 2 18 0 Cant. Farmers' Co-op, (pref.) 5 0 0 — Glemuore Brick — 0 15 6 N.Z. Farmers' Co-op. — 8 0 Whitcombe & Tombs 6 1 6 — MINING— Talisman 1 14 6 — Waihi . . . . . . 2 3 6 — V/aihi Grand Junction 1 5 9 —