THE MONEY MARKET.

Auckland Star, Volume LX, Issue 39, 15 February 1929, Page 4

THE MONEY MARKET.

BANK OF ENGLAND RETURNS. (Received 10 a.m.) (Australian and New Zealand Press. Assn.) LONDON. February 14. The Bank of England returns for tbe week ended February 14. as compared with those for the week ended Februarv 7, are as follow :—■ Feb. 14. Feb. 7. £ £ Note circulation .. Ss2.ertS.ooo 357 "''SS 000 Coin 133.780,000 154.615.000 Notes in reserve .. 57.140.000 02.."{>8.0n0 Govt. deposits J9,636.000 8.351,000 Other deposits .... 04,637,000 105,504.000 Govt. securities ... 47.877,000 55 387 000 Other securities .. 27,133.000 24,242.000 Proportion of reserve to liabilities 50.20 46.00 SHORT LOANS AND BILLS. Short loan*. 41 per cent, and three months' bill*. 5J per cent, are the same as last week. WALL STREET RATES. (Received 11.30 a.m.) NEW YORK, February M. Call money for renewals is quoted at 6'4 per tent. CANADIAN DOLLAR. MONTREAL, February 14. Tlip Canadian dollar is quoted at i*6 T » to the £1 sterling. CHRISTCHURCH WOOL SALE. POOR DEMAND FOR MERINOS. CROSSBREDS DOWN TOO. CHRISTCHURCH. Wednesday. The third Chrietchurch wool eale was continued to-day. A feature was the poor demand for Merinop, of which a large clip of 253 bale* was paeeed entirely. After the first few lot* failed to reach sellers, expectations. price* for Merinos dropped about 3J_, compared witb January ealp here.

Value* at the recent Timaru sale were th« baeis for other rlasses of woo!, which were down H4d to l%d on January snles. New Zealand competition waj not keen except for super wools. Bradford buyere were more active than previously, and Continental bidder* were keen.

The top price thie morning was 22% for eight bales of Wakare .half-bred ewe. Rytlal Downs Corriedales hogget (four balee) brought 2P/4d. Thirteen bale* Heatherlea three-quarter-bred ewe made 19d, tho top price for its elaes. Nineteen

bales of Woodburn croesbrcd ewe eolrl at Merino— d. ,}. Extra super to 203 Super 17J to 184 Average Iβ to 171 Inferior 12 to 15 . Corriedale— Super jo to 22 Average 16 J to ISi Inferior 14 to 15i Fine Halfbred— Kxtra super 21 to 22i Super 13 to 20? Average i<? to 189 Inferior 14 to 15i Medium Halfbrcd— Extra super 20 to 20£ Super is to 192 Average 15J to 17 J Inferior 13 to 15 I Coarse Halfbred— j Super 17 to 18 Average 15 J to Iβj Inferior 12J to 14i Fin* Crossbred— Super isj to 16J Average 14* to 15 Inferior 12 to 14 Medium Crossbred— * Super i4i to 15i Average 13J to 14 Inferior lOi to 121 Coarse Crossbred— Average 13 to 18$ Inferior 10 to 12 Merino Bellies and Pieces— Good to euper 14} to 17 Low to medium 12 to 14 Halfbred Bellies— Good to super 14 to 151 Low to medium 11 to 13J Halfbred Pieces — Good to super 15| to 19\ Low to medium .... IOJ to 15 Crossbred Bellies and Pieces— Good to super 11 to 151 Low to medium .... S to lt>i Crutch ings— Medium to good .... 10 to 125 Inferior and seedy .. 7 to 8J LockeMerino . . .-. 8J to Hi Halfbred 8 to 10» Crossbred 6* to 7J