THE MONEY MARKET.

Press, Volume LXIII, Issue 12850, 8 July 1907, Page 9

THE MONEY MARKET.

The market rate of discount for best three months' bills is 3 3-Bths, as against 3 11-16ths per cent, last week. WHEAT AXD FLOUR. Eleven cargoes of Australian wheat were cold. Ono brought 37e, eight others 3Ue to 3Gs 4Jd, end the otner two 3os 4 id and 3os tkl. Owing to unfavourable weather in Europe, and higher American quotations, hardened markets prevail. Fair business wis done at about Is advance. Thero ie a good Continental demand for cargoes, sales for which were made from 35s to 375. Australian spot wheat ie very ecarce at 3Ge to 36s (id. Tiio supply of New Zoiland wheat is exhausted. It is quoted nominally at 33s to 34« for short berried, and 34s to 303 for long berried.

Flour is firm at 6d advance on Australian kinde. The London quotation is 24s to 25e, and the Glasgow quotation 2Gs 6d.

OTHER PRODUCE. Butter.—The market is quiet with a slightly better tone. Danish ie quoted at 109e to 11 Iβ; colonial is neglecte.l and prices arc nominally unchanged. Che-eee.—Ncav South Wales cold to GOs; Victorian, 565; Queenelan i, 525; New Canadian, 575; New Zealand 61s to 62e. Sugar.—The market is eteady. German, 9s 7d; first marks, Hβ 2d. THE WOOL MARKETS. Tho Antwerp wool sales closed at opening features. Out of 6705 baley of La Plata offered. 2439 wero sold. Bradford wool. There is more enquiry- 40's, 16Jd; 465, 17Jd; common 60'e, 27d; super, 28d. THE METAL MARKET. Copper.—On epot, £98 10s; three months, £93. Tin.—On spot, £199 10s; three months, £181 15s. Lead.—£2o ss. Iron.—s7s. Spelter.-£24. MELBOURNE, July 6. Wheat sold to 4s OJd. Holders want 4s Id. ADELAIDE, July 6. Wheat buyers offer 3a 10d; sellers want 4s.

Tho New Zealand Fanners' Cooperativo Association of Canterbury (Limited), Christchurch, is in receipt of the following cable message from its London office, dated July sth: "We quoto to-day's value of prime Canterbury lamb delivered to Smithfieild market: Carcases, 281b to 361b, 361b to 421b, 421b to 501b, 5Jd per lb. We quote to-day's value of prime Canterbury mutton delivered' to Smithfield market: Carcases 481 bio 561b, 4Jd per lb: 501b to 641b, 4jd per !b; 641b to 721b, 3Jd per lb. Wheat—The morket has ndvnnced further Iβ. Market very firm."