COMMERCIAL.

Sun (Christchurch), Volume I, Issue 132, 10 July 1914, Page 10

COMMERCIAL.

THE MONEY MARKET. BANK OF ENGLAND BETUBN. By Cable. —Press Association. —Copyright. (Received July 10, 10.10 a.m.) LONDON, July 9. The Bank of England return issued for the week ended Wednesday, July 8, is as under: — ISSUE DEPARTMENT. Notes Gov. debt £11,015,000 issued £29,531,000 Other seNotes in curities 7,434,000 reserve 26,822,000 Gold 37,904,000 £56,353,000 £56,353,000 BANKING DEPARTMENT. Proprietors' Gov. secucapital £14,553,000 rities £11,005,000 Public de- Other secuposits 12,580,000 rities 34,832,000 Other de- Notes 26,822,000 posits 43,788,000 Coin 1,697,000 Best, 7-day and other bills 3,435,000 £74,356,000 £74,356,000 The leading items of the Bank of England j Return afford the following comparisons:— Increase or Increase or decrease on decrease on Amount. last week, last year. ££ £ - Bul'.ion 37,904,000 1572,000 *2,064,000 Note circulation 29,531,000 f253,000 t90,000 Reserve 28,519,000 t230,000 *2,299,000 Deposits 56,368,000t 15,255,000 *4,477,000 Proportion of reserves to liabilities 50.58 t10.45 t .19 •Increase. tDecrease. LONDON WOOL SALES. NEW ZEALAND CLIPS. LONDON, July 9. At the wool sales, the following prices were realised for the fleece portions, of the New Zealand clips named: Ota Creek, top 14$ d, average ll§d> Longburn, top 14d, average. 12-* d; Birdjgrove, top 12|d, average 10|d; Talmore, tt>p 12d, average 10 gd. (Received July 10, 10.10 a.m.) The wool sales are animated. Merinos are from 5 to 7i per cent, higher than at the May sales. Crossbreds are firm.

The following cablegram has been received by Dalgety and Co., Ltd., from their London office, dated July 8: —- Wool sales continue active, and competition' is brisk for all good wools. English wool buyers are the principal operators, but American wool buyers are buying freely crossbred wools of fine and medium quality. Prices for greasy good merino wools of good con : "dition are 5 per cent, higher, scoured merino wools are rather higher, scoured fine. quality crossbred wools are 5 per cent, higher, other descriptions of scoured are unchanged. Fine crossbred slipe wools are unchanged; medium and coarse crossbred slipe wools- —a change, if any, is in buyers' favour. Lambs' wool is rather lower, more especially seedy wools.

WHEAT. LONDON, July 9. The wheat market is steady; but inactive. ' , COPPER. Copper, spot, £62 5/-; three months, £62 10/-. . SILVER- AND GOLD. Silver—Bar silver is quoted at 25

. JL3-16d per. ounce standard. Mining—Waihi, 40/- to 42/6;, Junction, 25/6 to 26/6. RABBITSKINS. Aunin'gs report that the rabbitskin Bales have closed. There was an average decline of a halfpenny. In all, 3041 bundles were offered and 2473 Bold. AUSTRALIAN PRODUCE. SYDNEY, July 9. Wheat, 3/10 to 3/.lo|. Flour, £8 5/r to £8 7/6. Bran, £5 5/-. Pollard, £5 5/-. Oats, Algerian, 2/4 to 2/5; milling, 2/6 to 2/7; Tasmanian, 2/31 to 3/-. Barley, English, 2/6; Cape, 2/6; seed, 2/10. \k Maize, 3/6 to 3/10; Java, 3/6. Potatoes, Tasmanian, £5 10/-. Onions, Victorian, £7; New Zealand, £6 to £6 10/-; . -jncklers, £2.10/- to £2 15/-. Butter, selected, 114/"» seconds, 98/- to 100/-. Cheese, 9d to 9£d. Bacon, B|d to 9d. ADELAIDE, July 9. Wheat, -3/9. Flour, £8 5/-. / Bran, 1/2. Pollard, 1/3; MELBOURNE, July 9. Ilides. —There were good supplies at the sales to-day. Lights and kips were very firm. Heavy/yrerd "slightly easier. MELBOURNE, July 10. Wheat, 3/10,]; flour £9; oats 2/- to 2/2£; barley, English malting 3/- to 3/9, Cape 2/2 to 2/14; maize 3/2 A; bran £5 10/-; pollard £5 15/-; potatoes, £3 j»/- to £4 10/-; onions £6 10/-. FARM PRODUCTS. Practically what was said in the last Report in regard to the grain trade locally might be repeated. The usual quietness existent of late coutinues, and sellers of grain are hanging off. WHEAT. Only stray parcels have changed i. liands for some weeks past, and the demand is slack. Quotations: —Pearl,

3/81 to 3/9; Hunters, 3/7 & to 3/8 j Tuscan, 3/7 to 3/7s; and fowl wheat up to 3/5. OATS. Next to no business at air can be reported for oats. Quotations are: — —Prime seed Algerians to 1/9, ordinary 1/6 to 1/7s, A grade Gartons to 1/8, B grade 1/6 A to 1/7, Danish 1/7, Duns 1/7 to 1/B}. BARLEY. There are absolutely no buyers for barley at all, and seemingly sellers will have to accept feed prices for milling qualities. CHAFF. Very little demand exists for chaff, and merchants report that they can secure all they require for 55/- per ton. POTATOES. Up to £3 per ton can be obtained for potatoes. Sellers are not numerous. ONIONS. A fair demand exists for onions at from £3 5/- to £4. GRASS SEED. Ryegrass is from *2/3 to 2/6, and inferior quality ranges from 1/6 to 1/9. White clover is worth 9d to lOd, and cowgrass 7d to 7sd. OTHER LINES. Linseed is worth from £9 to £9 5/-. No. 1 Partridge peas are quoted at up to 4/6, being very scarce, and other lines are in proportion. Prussians realise from 3/- to 3/3, and Imperials 3/- to 3/6. Beans are at 2/10. Bran is quoted at /i 4 5/- per..ton, and pollard £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 14d, farmers' separator lid to Hid, and dairy lOd to 10$ d. Cheese.—Large dairy ssd, loaf 6d, factory large 5Jd to 6d. Hams are at 12d, sides 9Jd, rolls 10$ d, large llsd. Eggs are low 1/4 per dozen. Extracted honey 3id, sections 4/6 per dozen.

CHRISTCHURCH STOCK. EXCHANGE. FRIDAY, JULY 10, 1914. TO-DAY'S QUOTATIONS. Buyers. Sellers. BANKS— £ s. d. £ s. d. National of N.Z. ~ 5 16 0 COAL—- - Taupiri .. .... GAS— Christcliurcli (£5 pd) MEATS— Cantby. Frozen Meat 8 15 0 —•' Chcli. Meat Co. (£lO paid) .. 1& 7 6 WOOLLENS — • Kaiapoi '5 5 6 MISCELLANEOUS— N.Z. Farmers Co-op. '(first pref.) .... 5 6 0 MINING — Blackwater Mines ~ 0 16 6 Waihi .. ... . . Mount Lycll .. .. 1 4 3 TALISMAN CONSOLIDATED, LIMITED. JUNE RETURNS. The secretary of the Christcliurcli Stock Exchange received the following telegram this morning:— '.'Crushed 4450 tons, value £'22,t>64 12/6; costs, 45/5 per ton. Have cabled London. "Woodstock No.\ 1 crosscut, progress 59ft; driving south, progress 35ft; crosscut at 100 ft roof 60in wide; values low; driving north, progress 51ft; crosscut 100 ft 39in values' low. ' No. 14 level, south drive, progress 45ft, reef 15in wide, values low. No. 12 .winze,- 3ft, reef -wider - than winze, values low. Driving south, progress 9ft, reef wider than drive,. values, low. Driving -north, progress- sft, reef wider than drive, values low."