COMMERCIAL.

Press, Volume XLIX, Issue 14758, 30 August 1913, Page 14

COMMERCIAL.

(By Cable—Prc«s Association. —Copyright.) BANK OF ENGLAND RETURNS. (Received August 29th, 8.5 p.m.) LONDON. August 29. Tiie Bank of England returns issued on Wednesday, August 27th, afford tho following comparison:— Last -week. This v.-eok. £ £ Coin .. .. .. .'.0,711,000 41,550-000 Reserve .. .. 32,362,000 Proportion reserve lo liabilities .. $3,62 69.46 Note* in circulation .. 29.21 J,OOO 29,24»,000 Public deposits .. i0,!M2,000 9.056.000 Other ck-poEils .. 4;;,-214.000 44,416.00*) Government securities : 2,-153,000 12,453,000 Other secunt-rs .. 27.a14.GU0 27,673,000 Tho Hank rntft is 4J per cent. Short loans :i per cent., as against 3 per cent, last week. Three months' bills 32 per cent., as against 3J per cent. Inst \v«-»>k. Paris 3J potrent., as against 3 J per cent, last tveok. Berlin -13 per cent., as against 5 per cent, last week. GOVERNMENT SECURITIES. Tho following aro the latest quotations for Government securities, with a comparison with thoso ruling Jaat week: — § 1* — "i i a I ■5 £ s-a £ c. d. 2* por cent. Imp. Con. .. 74 2 6 5s r. N.S/T. 4's .. .. ICO 10 0 10s r. N.S V.\ iij's. '18, Me-Sep. U7 10 0 Unch. N.S.W. :>S% '18. Mc-Sep. 97 0 0 10s r. N.S.W. 3'e. l'J55. Ap-Oct. 83 0 0 Unch. Vict. 4'», 1920, Jan-Jly 100 0 0 O0» i. Vict, aj's, 19-21-26. Jan.-Jly 90 0 0 Unch. Vict. 3's, 1921-26, -Tau.-July 77 0 0 Unch. Vict. 3i'e. 19-29-13 .. 94 o o 20s r. S.A. 3J's, J 929, Jan-Jly 83 0 0 Unch. S.A. .Ts, 1339. Jan.Jiily .*. 73 0 0 Unch. Qland. i'e. 1015-23. Ju-Jly 101 0 0 Unch. Qland. Si's, 10-22-47, Jn-Jly 9i 0 0 Unch. QLand. li'a, 1022-47, Jn-J!y 73 0 0 Unch. N.Z. -i'e. 1923, llay-Nov. 102 0 O 20s r. N.Z. Si's, 1920, Jan-July 91 0 0 Unch. 2C.Z. 3l'e, 19tO, Jun-luly 78 0 0 20a r. j».Z. 3J's, l'J,'J (ex div.) Si 12 l> Unch. Tas. 3Vs, 1920-40, Jan-Jly 89 0 0 Unch. Tae. 3'e. 1020-40, Jan-Jly SI 0 0 TJnch. W.A. 3J's, 1915-35, My-Kv. 69 0 0 Unch. ¥1. 3's, 1915-33. My-Nv. 81 0 0 Unch. METALS. Copper—Spot £71, three months £70 17s 6d. Electrolytic £'74. Tin—Spot £197 ss, three months £186 15s. Pig iron—sss ljd. Lead—£2o 7s Gel. Spelter—£2l. Sugar—German 9s 9d, first marks 12s 7d. WOOL. The Bradford wool market is steady, and prices are unchanged. BUTTER AND CHEESE. Butter —The market is firm. The hot weather is checking the English supplies, hut large quantities of Siberian are arriving. Choicest Australian is nominally 108s to 110s. Cheese —Tho market is firm. New Zealand 60s to 68s. WHEAT AND FLOUR. Wheat—Tho market is steady. Unfavourable harvesting conditions on the Continent are inducing enquiry. Sellers are firm. Australian, spot, meets a limited demand at 395. There is littlo enquiry for New Zealand owing to plentiful supplies of new English at moderate prices. Flour —The market is dull. Australian, in Ktoro z9s, on passage 2os 0d c.i.f. OTHER PRODUCE. Oats—Tho market is steady. Old New Zealand unchanged. Peas—There is a fair trade in spot. Old crop New Zealand 40s to 425, new crop 455. Jieans—Tho market is neglected. Up to 30s Gd is asked for f.a.q. New Zealand spot. No buyers. LONDON, August 28. SILVER. Silver is quoted at Us BJd. SHARES. Waihi shares are quoted at 45s 7<l to 46s 10d, Grand Junction 20s Gd to 21s (id, Talisman 40s to 455. AUSTRALIAN MARKETS. MELBOURNE, August 20. Wheat, as BJd; flour, £8 15s; bran and pollard, £4 15s; bailey, English, 3s yd to 4s, Capo 2s 9d to 3s; oats, Algerian 2s to 2s 3d; maize, Us 3d to j 3s 4d; potatoes, £1 10s to £3 ss; onions, £5 10s to £G, - BRISBANE WOOL SALES. BRISBANE, August 29. Tho wool sales havo concluded. Compared with tho Junb sales prices for good lots were five per oent. lower; for faulty lots ten per cent, lower. Bellies and locks sold at par. Greasy reached 12j<1 and scoured 23Jd. Dalgety and Company, Ltd., have received the following cablegram from their London office, dated August 23th: . "Frozen mutton market firm. Frozen lamb market weak, without quotahlo change. Very little demand for frozen beef." GRAIN AND PRODUCE MARKETS. (BY OTJR COMHICCm KD:-OR.) Friday evening. Tho total export of wheat from Australia for tho season is 41,824,944 bushels, of which 7,4-19,800 bushels went in the shape of 1-18,990 tons of flour. Tho wheat harvest in Australia last season is estimated to have produced 89,087,065 bushels. For tho twelve mouths to November 30th next, there is required to provide food and seed 33.000,000 bushels, leaving im expoi'tnblo surplus of 50,037,000 bushels. Since "December Ist, the date on which the export season begins, approximately 41,824,914 bushels are shown to hnve been shipped away. The quantity remaining to be dealt with is therefore 14.212.05e bushels. r fhero is very little business doing in tho grain market, and tho only sale of wheat reported is n line of Tuscan at 3s 5d at a country .station. Tho enquiries lately mado for wheat appear to havo eased oft". There is no rhango to report in the oats market, nothing being offered by growers. A little business is being done in oatsheaf chaff, which is worth £3 at country stations. There is very little enquiry for potatoes, and 30s at'country stations is the outside price being paid, and Auckland reports that quotations have been received equal to only 27a tkl at country stations. The fact that new potatoes are now available in Auckland, and a small consignment of which have reached Christdiurch. shows that there is littlo iinnrovitnf'iit to bo oxpocted in the Northern market. Advice liiiri 111-oil nx-eived that the Mix-raid's shipment of potatoes has been .void at £4 to £■! I<A> \n>v ton, so that the busings has l>e«n anything but profitable. The Sydney market is reported to be sufficiently supplied till tlu> new season's crop comes in. In Victoria, whero there is a. mnch larger crop of potatoes than last year, the market is very duß. The""Australasian" says that prices continue to be unfavourable to growers, there l>eii*g very littlo outlet for medium potatoes, ■of -.vhicli the bulk of tho simnty consist. Primn red soil Sncrvrffakos are quoted at £1 7os to £2. grey and dark soil £1 us to £1 l.>=. ami Excelsiors at £3. and occasionally £3 os for choice red soil*. The undermentioned are the prices paid to farmers at country stations, free of commission, sacks extra, except where otherwise stated : — vriu-at—Nominal; Tuscan 3s 5d to 3s o|d: Hunters 3s 7d to 3s Sd, i'earl 3s Sd to 3s 9d. Barley—Nominal: prime malting 3s Gil to 4b. Cape barley 2a M. Oats —Nominal; Gartons A grade

2s to 2s Id, Duns Is lid to 2s. Danish Is 10d to 2s, Algerians Is 9d to 2s. Ryegrass —Is ijd to 2s 3d. Cocksfoot—3d to 3Jd, f.0.b., t«he BaysWhite Clover—«d to 9Jd. Cowgrass—Prime samples 7d, inferior (id to G|d. Flour —£9 per ton, 1001b bags i-i> 10> 501b bags £9 15s, 2olb bags £10. Bran—£l los local, £4 10s f.0.b., per ton. Poliard —£C per ton. Oatmeal—£l4 10s per ton. Oatsheaf Chaff—£3 for good sampies. rotators—27s Cd to 30s; seed potatoes, early varieties, £o 5s to £5 10s; Gamekeepers, Up-to-Dates, and Northern Stars. £ls los to £2. Peas—Partridge to As 6d. Prussian Blues 2s tid to 2s 9d. Beans —3s- to 3s 3d. Linseed—£B IDs to £!'. DAIRY PISOI>UCE. Th-oro is no change in prices. The new season's butter is becoming more plentiful, and tho probability it* that tJio price will <\asc shortly. Local prices are recorded as under: — Choose —Factory o}d. doirv Cd, loaf 6Jd. Butter —Factory 16d, farmers' separator 12s to 13d," dairy 10d to Hid. Bacon —Sides OJd, rcrtls IOJd, hams li'il. Honey—Extracted. 3d per lb. Eggs—lo(l per dozen. GENERAL MERCHANDISE. London reports under date July 13th, 1913. Tea Indian.—A small quantity at auction, , chicily composed of now crop teas. Tho general torn* was strong, common tea steadier. Medium and line teas can be quoted dearer. Lowest h-af 7d. Ceylon—A large quantity at auction, the market showed a much stronger feeling, and where there was an improvement in ijiality, these teas fetched'rather big prices. Lowest loaf GJd. Java.—A small quantity at auction, tone steadier at last week's prices. Medium and ftv.o teas were very firm, and in some cases can lie quoted dearer. Lowest leaf Cid. Coffee. —The. sales at public auction this week were- small, with a steady tone, and no quotable change was recorded. Santas about Is up for the week. New Zealand Hemp.—Tho market is week. Good fair £20 10s. fair £26 JuneAugiKst. Stocks on .T/nly Ist 1913, 554 tons against -541-tons in 1912. Landed to date, 435 tons against 148 tons in 1912. Delivered to date, 202 tons against 414 tons in 1912. New Zealand Tow.—Cheaper. Closing values are nominally: No. 1, £13, So. 2, £12; No. 3, £10. Stock on Ist July, 1913, 35S tons. Kauri Gum.—At auction on the 3rd inst., 39 caees offered and retired. Stock on Ist July, 1913, 197 tons. Landed to date, 293 tor.«. Delivered to date, 254 tone. Money.—Firm and dearer. "Now Zealand"—l3o cases offered at auction and sold. Setting and set amber to pale 42s to 40s lid: sot dullish lumpy 37s Gd; sotting dark sugary, 33s per cwt. Tallow. —At auction since last report, 6537 casks offered, and abcf.it 317G casks sold under tho hammer at rather easier rates. Quotations now are good to finest white mutton 3Gs to 38s, and good to finest white beef, 35s to 37s per cwt. Californian Fruits.—Since last report prunes havo slightly declined, but Thompson's Roadless raisins and seedless sultanas havo rison. Mediterranean Fruits . — Business during tho last v/eek has been very fair. Owing to unfavorable weather the sultana market has hardened otherwise there aro no changes to report. Salmon. —Quotations for British Columbia salmon aro now issued Inmost firms, and very fair business has been clone. Linseed oil.—Cables received to-day do noL alter la«t week's quotations. White Lead in Oil.—No change in prioo to report. Bar Iron and Steel.—Last week's quotations still obtain. Pig Iron.—lt in expected that * the prieo will be somewhat easier during September. ■ Cement.—Very fair sales havo taken place recently in "Rhinoceros" British Portland cement, and as cement is still rather scarce, buyers are looking forward to the arrival of early shipments. Kapoe.—Cables received during the week indicate a slightly easier tendency in this market. FRUIT AND VEGETABLES. A email shipment of oranges has arrived from Cook Island. Tho demand was keen, and prices ruled fairly high. These made 12s to 15« per case. Sydney oranges and mandarins alro selling* at 14s to 15s, pines, lGv« to 11s; passions, 10s to lls; lemons, Milctyura, 14s G<l; Sydney, lls 6d; marmalade oranges, Soville, 8s to 9s; Auckland Poorman's, Ss 6d to 10s. Local apples show no change in prices, and pears are now practically off the market. " ; Vegetables are in full supply, cauliflowers 2s to 4s. Cabbages 6d to Is Gd, other vegetables unchanged. A small consignment of new potatoes, the of the season, from the North Island has arrived, and fiold at 3d per lb. GERMAN* RAY CO-OP. "DAIRY FACTORY. Tho annual meeting of shareholders of tho German Bay 'Dairy Factory was held on Wo»lm?s.<Uiy oveuing, Mr G. Armstrong, chairman of directors, presiding. Tho report showed a total output of 103J tons of cheese. Of this 179,4131b was conveyed t:> the London market, the price realised h-oini: -v.fxSd per lb. The "total milk rcecivful at tho tactory amounted to 2,495.1021b, as compared with 2,327.1311b in the previous soa.son. The total paid for Imtterfat was 11.Hi for the year, and a dividend of 5 per cent, was declared. Messrs l>. Fyfe, J. Brown, ami W. Kearney wero * elected to tho dirfc-tornt**, and Mr J. Bell appointo-l to fill the vacancy caused by tho retirement of Mr "\V. Sunckoll.' Mr C. W. Lvcrtr. was appointed auditor, ami at a subsequent irenting of directors Mr G. Armstrong wns elected chairman.