COMMERCIAL.

Press, Volume LII, Issue 15512, 12 February 1916, Page 11

COMMERCIAL.

k, Cible.—Pr«» Association. —Copyrisrlal.) BANK OF ENGLAND RETURNS. . LONPO.N, February 10. The' Bank of England returns issued in-Wednesday, February 9th, atiord 3C following comparison : icp. 2. X€b. 3. X £ .vj.SSP.rion .'1?. F-OT.noo Pioportion ff to __ !iabi!fi?3 .. -J.i.' emulation .. ' •• .'tMW'On n2.«b.nf«i Mb Deposits •• 5fi.246.0M 82.ei1.000 deposit 95.-W.OOO 10S,:. ; jI.OOU Gowsoent recur it i>« :!3,*50.0011 Qiex .• InSjl-IO.OPO Short loans, 4J per cent.; three Eonfhs' billsS per cent. GOVERNMENT securities. Tho following an* the latest-quota-tions for Government, securities, with a comparison with those ruling last. . Prire Trie* ]«st, w-eeV. to-day. £ J >. d. £ B. d. 01 ,>e r c»nt Imp. Con. 1" ss 10 0 5> rer «nt. Wir Loan J5 n ,SS 2fi <i p.-r cent. War I<oan 07 i 3 37 0 0 > S.W. i't, 1933, Jan.- ' ,T] V .. .. 63 7 6 87 I) 0 .N'.S.W. GJ'j, 1330-50, Mrh.f>nt ■ "1 1" n 7 1 !•' n y.S.W". MV, 1920-30 : 35 0.0 05 5 0 S.S.W. i'l, 1923, Apl.oft. .. .. "0 0 n 71 r. 0 Vir 4'?. 1920, Jin.Jly. 91 0 0 l.~> 0 Viu 3V«, 19-1-26. J«l^ J)y „ .. S5 S n 85 7 6 V,c. r-i'B, 1029-W ' .. K» J5 0 71 ] 5 0 Tic 3't 193-40, Jan.-Jly. 65 0 0 10 0 Qland. i'l. 1915-25, Jtn..llv .. ... SO 10 0 00 3 0 Qland' 3j*«. 1932-17,Jin.-Jly. .. .. 66 15 0 £0 10 0 Q ud" 3'«, 1923-17, Jan.Jlr .. .. 63 0 0 GC 15 0 X.Z.iVv 1929, UiJ- ■ .. .. 87 0 0 (57 0 0 XK. Nt ?, -19(0, Jan.-J!y. 72' 0 0 ' 7f 0 0 XZ. r,\ 1920, -Apl.-Oct, 63 10 O 61 0 0 S.\. SIX 1916 Jan.-Jly. 73 0 0 73 15 0 SA. 131(1, Jan.-Jlv. 57 10 0 57 10 0 Tso. 1020-40, JID.-JJy. 71 10 0 73 5 0 l'ss 3'«. 1920-10, Jtn.J Iv. ~75 1 » .76 1 3 O. 3j'i. 1915-35, M»r* .Nov. .. „ V« 0 0 76 12 6 T5\A. J-j, 1915-35, M»JXor. 6S 10 0 60 0 0 Tliprc is. a good-d'emanfl for Colonial stocks, but few are offering. CEREALS. Wheat—The market is quiet, and prices are easier. Flour—The market is, firm, but inactirc. Oats—Tho market is quiet. Bahia Blanca, February-March. 348 3d. Peas and Beans—The market is steady, but quiet. DAIRY PRODUCE. Bjitter—The market is steady. Col- ®») l is?fuTncr. " The quantity being aarketed. is small, owing-to siow discharge. Australian choicest salted, ll&'.to 148s; unsalted, 156s to 160s; Sew Zealand salted, 150s to 1545; un-saltd,-160s to 1645; Argentine salted, -Mb;-unsalted, 150s to 1525. • Cheese—The market is easier, owing to tatper^prospcctivo supplies. New ■ Wand, 975. SUGAR. • rJke marketsis firm. American gran«itW, 355. '

I WOOL. 1 On tho Bradford market small business is parsing, but prices are well maintained. METALS. Copper—£lol to £103; elcctrolvtic, £132 to £136. 'I'in—£l7o 10s to £170 ss. Pig-iron— 93s 7-Jd. Lead —£32 to £31 tos. bpeltcr—£92 to £'Jfc>. LI V F STOCK STATISTICS. ([{.eccivcfT February 11th, 11.35 p.m.) SYDNEY,, February 11. The New South Wales official live stock statistics for the year ended June. 30th, 1915, show: —Horses, 733,278; cattle, 2,477.22-1 (including 426.167 milkers); sheep, 27,298,813; lambs, 5,699,517; pigs, 286,052. As compared with the last previous statistics and those for the year ended December ,'Jlst, 1913, they show the following decreases: —-Horses, 12,572; cattle, 315,1-16; milkers, 174,253; sheep, 3,170,073; lambs, 3,681,790; pigs, 2038. The decreases are largely a. result of the drought experienced between tho two periods. RESTRICTIONS REMOVED. (Received February 11th, "11.35 p.m.) SYDNEY, February 11. Owing to increased supplies, the prohibition on the export of pollard has been removed. AUSTRALIAN MARKET REPORTS. SYDNEY, February. 11. Bran —£5. Pollard —£6. MELBOURNE, February 11. Bran —£-4 10s. Pollard —£6. Barley —F.nglish, 3s lOd to 4s 3d; Cape, 2s 10Jd to 3s. Oats—Milling Algerians, 2 S 2id to 2 S 3d; feed, 2s to 2s l.Jd. Maize —6s 2d. Potatoes —£12 to £12 10s. Onions —£3 10s to £-1. SYDNEY WOOL SALES. SYDNEY, February 11. Record prices continue to be paid for-tvool. Scoured reached 32Jd, and greasy comeback 21d. The New Zealand Loan and Mercantile Agency ' Company, Ltd., advise having received a cablegram from London giving; the undernoted market'information :—"Tallow: We quoto present spot values for tho following descriptions: —Fine mutton, 50s 6d per cwt; good beef, 49s 6d cwt; mixed, 46s per cwt. Tho market is dull and there is nothing doing." GRAIN" AND PRODUCE MARKETS. (by ora COHJIERCTAL EDITOR.)

Friday Evening. The cablcd report that tho whole of the surplus wßcatcrop in Australia had been sold to tho Imperial authorities caused more local enquiries for wheat, and enabled a number of sales to be made. A later report, however, stating that tho negotiations for tho purchase had not been confirmed, steadiest business. again. Tho local market will naturally be sensitive to the operations in Australia, as iu tho event of tho surplus not being placed in Europe, thero is tho possibility of exports being made to New Zealand, more particularly in tho form of flour. • Thero is no change in prices locally, sales of new wheat having been made at os to os Id at country stations, mostly at the former figuro, and an odd lot of old wheat at 5s Id to os 2d. It is reported that tho new wheat is milling well, being thinner in the skin, and making stronger flour than last season's wheat. Oats are dull of sale, as there is no disposition on tho part of merchants to lay in stocks in view of tho heavy crop that will bo available in Southland, and thero is practically no shipping business to be dono at present. A few lines of Gartons havo been purchased at 3s Id to 3s 3d, but growers' ideas of value are generally much higher. Oatshcaf chaff-is dull of sale, in the absence of any shipping business. Tho following arc the prices paid to farmers at country stations,' free of commission, sacks extra, except where otherwise stated: — "Wheat— Milling, os to os Id; fowl wheat, 4s 9d to 4s 10d. . Oats—3s Id to 3s 3d for Gartons, and 3s od to 3s (3d for Duns; Barley—Malting/"is to 5 S 6d. Flour—£l3, f.0.b., 1001b hags £13 10s, oOlb bags £13 10s, 2-51b bags £14. - , . . Bran—£s per ton,, for shipping. Pollard—£9 per ton. for shipping. Oatmeal—£2o per ton^ Oatsheaf Chaff —£i 15s to £o. "Ryegrass —os. Peas—Partridge, os. Cocksfoot- —Nominal. Onions —£2 10s. DAIRY PRODUCE. There is no change in dairy produce. Supplies of butter are rather more plentiful. "Wholesale prices are :— Butter—Factory Is 4d, farmers' separator Is Id, dairy Is. Cheese— Factory (last season s) lOd, dairv 9d, loaf 9d (new seasons) factory Sid, dairy 7-Jd to Sd. Bacon—Sides Hd. rolls Is hams Is. Honev —Extracted 4Jd per lb. Eggs?—ls 3d per dozen. FRUIT AND VEGETABLES. Plentiful supplies of local stone fruit, tomatoes, and vegetables, are coming forward. A large shipment of Fiji came to hand during the week, but the greater part of the cargo was over-ripe, and not fit for consumption. Wholesale prices are:— Apples, Id to -2d; pears, id to Id, peaches, 2d to <ldi nectarines, 3d, apriwts Hd to 2id; raspberries, ,d; grapes 7<\ to 9d per lb ; oranges, 14s; lemons 18s; bananas, 6s to 9s : pmeRxuojs, case; tomatoes, apples, is to os, !«• - . .ltd to 54d: cucumbers, Id ner lb Potatoes. 8s to 9s per cwt : cabbages, 2s to 4s; cauliflowers, -s 6d to 4c, car-

rots, t'd; turnips. 4d to ti-d : parsnips, J <(i per dozen ; onions?. cd to Od j r"r c«'t; peas. f>cl to'is per peck. j GENERA L MEIICHANDiSE. In the import trade the most outstanding event ha s been the abnormal advancc in the rates of freight. The requisitioning of so many steamers hr the Admiralty has led to a demand altogether beyond the shipowners' po""er to supply, and so long as the law of supply and demand i.-> allowed to work out i's own salvation, there, is little hope of relief. Suics can only be made on the nrcsent basis of freights, with the proviso that any advance- or reduction i ou shipment i s tor buyer;' account. | Lubricating oils: are still advancing.. I but the rises arc not felt so soon on | many other goods, a.s contracts have j been placed for forward delivery, but "when ncMV prices become current they! n ill be approximately double what I they were twelve months :ign. To show I the spet-i;i| strong demand, one English j fnm alone had contracted 10 deliver to the. Admiralty, before February 'JSth, j ''lose- upon 100.000 gallons in five-gallon drums, equal to about .'50.000 drums.

I'ig iron—) his has also reached fabulous prices, as the. following figures will show:—Glengarnock iron was quoted as follows: January, 101 t, 71s: July, January, 1015, llrl : .lulv. g(j« : I>ecenilier. His (id, f.o.b. Glasgow, since when it has advanced close upon MOs pei' ton, and with llie increased freight, the eo.st. to the foundries is almost beyond their purchasing powers, especially if they have to keep to their pricelists tor ranges and agricultural nnuliin err. M hite lead has again advanced 30s per ton. Hod lead has advanced £'! per t^n. l-inseed oil has to-day receded 'd per gallon, bin the increased price of drums and barrels, and advances in freight, rates, keep the landed cost particularly high. Some .seven years ago drums were l,s Sd, now they are Hs 3d. and difficult to procure even at this price. Iv, is understood that, the Rritis.i Government, have placed an embargo on the export of aluminium. LEESTOX STOCK SALE. Hie entries of a lock at yesterday's fort-nightly market nt Leeston were as follows: S'J7 sheep, .3 ID ewes, 229 v ethers, and '27') lamb?, 99 fat. pigs, 10!) store pigs, and a dozen cattle. J'at stoek of ail classes met with a brisk demand, the few fat cattle offered selling exceptionally well, finished baron pigs were verv firm, and si ores uere rather than at some of the. recent, sales, though the improvement whs not, very marked. The demand ter good store sheep was more spirited than at, recent sales, and prices improved slightly. "Values were: Fat wethers 16s to 23s (id, unfinished lambs lis to los 2d. fat lambs to 20s fid. fat ewes to LSs 2d_ cull lambs Ds .'id, .store wethers 12s to 12s sd, store en-ss 4s. to 10s 9d, bacon pigs ."iOs to O.'ls ((he latter price being obtained for a very nice pen of 11 sent in by Mr G. Nairn), porkers 30s to 4os, large stores 21s fid to -lis, medium 10s 9d to 17s. weaners from .'is 6d, fat steers £6 7s 6d to' £12 (tho latter price being obtained for a. steer sent in by Air Alex McLaughlan). fat heifers to £6 17s fid, store cow £2 os, cow in' profit £2 os. HAXCIORA CATTLE SALE. At a special cattle sale liuJd at llangiora market on Thursday, there was an entry of about 1000 head. The beasts were of fair average quality, including a lew pens of exceptionally good stuff. The demand was good, and on the whole a very successful sale resulted. The top price, £18 17s Gd, was obtained by Air H. G. Roberts for a pen .of fat steers. The prices realised were as follows:—Fat steers £10 10s to £18 17s 6d, fat heifers £S to £10, fat cows £6 to £10, 2} to 3-year-old steers £6 10s to £7 ,17s Gd, 18 months t0.2-year-old heifers £3 4s to £-1 15b, yearlings 30s to 50s, calves los to 255, store cows £2 10s to £o, dairy cows up to £11 10s. TIMARU MARKET. (special to "the TRESS.") TIMARU, February 11. A fair volume of business has been recorded during the week on the local niarket, wheat figuring most largely in the sales. During the earlier part of the week, sales of Tuscan varieties were made at os on trucks, these varieties being the chief ones offering. 'Later on a concession had to bo made by sellers to tho extent of the railage, and up till Wednesday the market rate was 5s delivered Timaru for Tuscan varieties, whilst mixed lines containing a proportion of Pearl and Hunter's, changed hands at 5s lid to 5s 2Jd, according to the proportions, delivered Timaru. Straight lines of Velvet were sold at 03 3d, delivered. On Thursday, when the report of the 'negotiations by the Imperial Government for tho purchase of the unsold surplus of the Australian crop cainc to hand, tho niarket was distinctly firmer, as it was considered in some quarters that, this would mean freedom from Australian competition. It would appear by subsequent cables that these negotiations did not come to fruition, and the result is seen in the disappearance of' the firmer tendency. Quotations to-day are as follows: — Tuscan 5s to 5s oicl, Velvet ss-2}d to 5s 3d. Hunters os to 03 lid, all delivered Timaru. Fowl-wheat is meeting with a fair sale- at is 9d on trucks, country stations. ' Very few oats arc offering, and the market is inclined to weakness. -New oats from the Gore district arc expected to be on the market at the end of this month, and when they are offering freely, it is expected that prices locally will be easier than at present, as most of the business is bound to go to Bluff and Dunedin, where by present appearances stocks will be abundant. One or two lines of barley have been 011 offer. Farmers are asking os (3d on trucks, but buyers' ideas of values are fully 3d per bushel less than this. A fair quantity of Cape barley has been purchased by Timaru merchants from the Kawke's Hay district. It. is being brought down to South Canterbury to sell to farmers who want io sow" it immediately for - green feed. Earlier in the seaton Cape barley was obtainable at 3s Gd f.o.b. Gisborne. but the price has now advanced, and quotations to-day are front 4s- to 4s Id f.o.b.s.i. Gisborne. Some Australian Cape barley has arrived here, aud tho quality is excellent. Potatoes are in keen demand for shipment to Sydney, but an order here for delivery next week had to be. refused at £S rer ton f.0.b., owing to our crops not being ready yet for lifting. NAPIER WOOL SALES. • (press association tei.egravO XAPIER, February IT. It has been decided to hold the local wool sales on Friday, February ISth. VTSTEKDW'S BUSINESS OX OTHER exchanges. (press association telegrams.) AUCKLAND. Sa'.M: —Bank of New Zealand £10 • 11*; New Zealand Insurance, £6 Is 6d. WELLINGTON. Closing mining quotations: —Conaohdxted Goldfields, filers Us; Dominion Developing Company, buyers 355; Murray Cw*k buyers 42s 6d; Rom byywi Id! Waihi. bnvers 36=; Waihi Grand Junction, buyers 19*> sellers 13s 3d.