COMMERCIAL.

Press, Volume LII, Issue 15560, 8 April 1916, Page 7

COMMERCIAL.

(By Cable.—Pr«s Association. —Copyright.) BANK OF ENGLAND RETURNS. LONDON. April 6. The Bank of England returns issued on Wednesday, April sth, afford the following comparison:— March 29. April 5. £ £ Coin .. .. 55.718,000 53,146.000 Kescrv e .. .. 41,534.000 ■ 41,012,000 Proportion of reserve to "liabilities .. 25.75 2C.03 Circulation ... .. 33.577,000 33,875,000 Public deposits .. 57,tM»1,0u0 6a,915,000 Other deposits .. 57.362,000 5".749,000 Government securities 32,£36,000 3S, 169,000 Other securities .. 55,350,000 96,139,000 Short loans. 4J- per cent.; three months' bills per cent. GOVERNMENT SECURITIES. The following are the latest quotations for Government securities, with a comparison with those ruling la6t week: — Price Pric* last week, to-day. £ a. d. £ s. d. -i cent. Imp. Con. 57 5 0 57 0 0 3$ per cent. War lean 67 7 6 87 2 <J •4J per cent. Wa r loan 96 15 0 96 12 6 XS.W. 4's, 1933, Jan.J!y- .. S3 a 0 S4 2 6 X.S.W. 3Vi, 1930-50, Mrh.Sept. .. .. 70 2 G 69 17 G X.S.W. 3Ve, 1020-30 .. 93 13 0 95 12 G N.S.W. 3'e, 1925. Apl.Oct. .. .. 70 0 0 69 1 7 6 Vic. 4's, 1920, J an.-Jlv. 91 10 0 94 12 6 Vic. 3i's, 1921-26, Jxn.J lv. .. S4 0 0 84 2 6 Vic. 3J's, 1920-49 .. 70 12 6 70 10 0 Vic. 3's, 1929-40, Jan.-Jly. 63 5 0 62 15 0 Qland. 4's. 1915-25, J«a.Jly. .. 90 10 0 90 10 0 Qland 31's. 1922-47, Jan.Jly v .. .. 86 5 0 66 17 6 Qland 3'«. 1922-47. Jan.Jly. .. 62 15 0 63 5 0 N.Z 4'«, 1929, MayNcv. .. .. 87 0 0 85 7 6 X.Z. SJ's. 1910, Jan.-Jlv. 72 7 6 72 7 6 X.Z. 3's, 1320, Apl.-Oct. 63 5 0 62 12 6 S.A. 3Vs, 1916, Jan.-Jly. 72 0 0 72 13 0 S.A. 3's, 1916, Jan.-Jlv. 57 3 0 58 5 0 Taa. 3J's, 1920-40, Jan.Jly. .. .. 72 7 6 72 5 0 l'aa 3'a. 1920-40, Jan.Jly. .. .. 63 10 0 63 10 0 W.A. SJ's. 1915-35, May- * Xov. .. .. 75 0 0 73 15 0 W.A 3"8, 1915-35, I£ayXor. .. .. 69 2 6 69 5 0 CEREALS. Wheat—The market is firm, but quiet. A New South Wales shipment about to bo loaded, has been sold at 6s per quarter. Flour—The market is firm, and has an upward tendency. Oats—The market is firm. : BaliiaBlanca, on. passage, 30s 3d. Beans and Peas—The market is inactive, and has a tendency to become easier. DAIRY PRODUCE. Butter—The market is steady and quiet. Danish, 1745; Australian, choicest salted. 158s to 158s; unsalted, 160s; New Zealand, 162s to 1645. Cheese—The market is firm. New Zealand, 103s to 104s. SUGAR. ' American granulated 41s. BRADFORD WOOL MARKET. The market is fairly steady, and there is enquiry. Quotations: 64's, 41d; 60's. 40$ d; common 60's, 39Jd ; o6's, 35£ d ; 50's, 31d ; 46's, 2Sd ; 40's, 26d. ARGENTINE MEAT SHIPMENTS. LONDON, April 6. The Argentine meat shipments last month were:—Mutton 77,000 carcases, lamb 43,000. frozen beef 313,000 quarters, chilled beef 92,000. NEW FREIGHT RATES. LONDON. April 6. The new flat freight rates fixed to South Australia, Victoria, New South Wales, and New Zealand are ordinary, weight 80s, measurement 100s, except for New Zealand, which is 102s 6d. MELBOURNE MARKETS. MELBOURNE, April 7. Bran, £4 los per ton; pollard, £5 5s per ton; barley, Chevalier 4s 9d to 6s 6d, Duckbill 4s 2d to 4s sd, Capo 3s to 36 2d; feed. Is lid to 2s Id; potatoes, £5 to £o 10s; onions, £4 to £4 5s per ton.

Dalgety and Company, Limited, have received the following cablegrams from their London office, dated April oth:—

"Tallow. —At +he weekly auction the demand was limited, and prices were unchanged to fuliy 6d per cwt lower. Good mixed eold at 48s 6d to 49s pe'r cwt.

"Wool Sales. —Arrangements now made are as follows: —21 days prompt, 24 days clearance —notice to terminate this agreement to b e given by either, side 14 days before opening date of any series. Arrangements for period of the war—the third series' dates tare 11th April to 19th April, resuming on the 2nd May to complete the sales."

GRAIN AND PRODUCE MARKETS. . (by our commercial editor.) Friday Evening. The wheat market shows little change, but the tendency is rather towards firmness, especially for Hunters and Pearl. There is still a fair quantity of wheat offering, but the demand for Tuscan is not keen. Oats are dull of sale, with no change in prices. . . ' Oatsheaf chaff is in limited demand at £3 10s to £3 los. Owing to the difficulty of obtaining shipping space, trouble is being experienced in filling the orders that arc now coming to hand from the North Island. The price offered is £4 15s at country stations. The following are the prices paid to farmers ait country stations, free of commission, sacks extra, except where otherwise stated*— Wheat. —'Milling Tuscan 4s 2d to 4s 3d, Hunters 4s 4d to 4s od, and Pearl 4s 6d to 03 7d. Oats—2s 6a to 2s 3d for Gartons. and 2s 3d to 2s 6d for Duns. _ Barley—Malting 4s to 5s 6d. Flour —£13 f.0.b., 1101b bags £13 10s. 501b bags £13 los, 2olb bags £14. Bran —£3 10s per ton for shipping. Pollard—£6 Der ton for shipping. Oatmeal—2olT> bags £17. Oatsheaf Chaff —£3 10s to £3 los. Ryegrass—4s to os. Cocksfoot—l2lb seed 9d, 131b seed 9Jd, 141b seed 10d. Onions —£2 os.

Potatoes —£-1 15s for April-May delivery. Peas —Partridge ss.

DAIRY PRODUCE. The North Island butter with -which the market has been largely supplied of late, it is expected, will shortly be displaced by th# local make, which has been stored for winter rise. Eggs have further advanced in price. Wholesale prices are : — Butter —Factory Is 5d (less discount), farmers' separator Is ljd to Is 2d; dairy Is Id. Cheese —Factory (last season's) lOd, dairy 9d, loaf 9d, new season's factory 9Jd. dairy 7Jd to Bd. Bacon —Sides lid, rolls Is, hams Is. Honey—Extracted 4£d per lb. Eggs —Is 10d. and Is lid for stamped per dozen. FRUIT AXD VEGETABLES. Supplies of apples have been light, but pears aiul tomatoes have been plentiful. A small shipment of bananas arrived from Fiji, and as the market was bare, excellent prices were realised. A small shipment of oranges is now due. Wholesale prices are: — Apples, dessert 2d to 2-Jd cooking Id to 1-Jd, peaches l}d to 2£d, pears Jd to Id. plums 2*d> grapes Sd to Is, quinces 3d' to Id. tomatoes id to walnuts od to 6d, mushrooms 4d to <3d per lb, lemons 18s to 245. bananas 17e to 22s per case. Potatoes 10s to lis per sack, cabbages 2s to 3s, cauliflowers 4s to os, carrots 6d, turnips 4d, parsnips Bd,

rhubarb Is 6d. marrows 2s to 3s per dozen; onions 4s per cwt-. GENERAL MERCHANDISE, Tea.—Owing to continued reports of the crops being retarded through a dry seasou and increase in ireights from April Ist, together with the chance of a duty being imposed when Parliament meets, fair business has been done. Salmon still continues in short, supply, partly owing to the continued hot weather and supplies being drawn for the Wellington market. Fresh, kippered and other herrings have never been known to be so scarce. Orders sent to the largest English curers have been cut down to practically none.

'Matches have again advanced, and supplies are even still more difficult, to obtain.

'.Mildura Fruits are now arriving in Melbourne for shipment. Prices remain the same, but a difficulty lias cropped up in that a new intimation sets out that only one ton of two crown and three tons of three crown can be exported. The quality is reported to be excellent. The news of the wreck of the liangatira shortens the market, as fair quantities of currants and Spanish figs wore aboard this vessel.

California*! Dried Fruits.—The new season's prices will soon be out. early though it is. The trees are just about coming into blossom, the weather conditions are ideal for the setting of the blossoms, and should no unfavourable conditions arise, such, as a late frost, the prospects are that a large crop will be harvested.

White and red lead are unchanged, and the market is very bare. The ruling present price is something like £60 per ton. Linseed oil" lias again been reduced this week. but drums remain the same. Unr iron is still unchanged at the present high value, and the Scottish Steel and Iron-Co.'s priccs are verv firm. Pig Iron.—The Otaki. now discharging, brings a fair quantity of Glengarnock iron, but no further shipments are advised. TIMARU MARKETS. (special to "the tbess.") TJMARU, April 7. There is verv little alteration in the values of the different varieties of wheat this week as compared with last week. A considerable quantity has been offered during the week, ancl a good many sales have been made. Tuscan is quoted now at 4s 4d, Red chaff 4s 7d to 4s Bd, and Vel vet 5s to | os Id. all delivered, Timaru. Tuscan has docliiied owing to over-supply of this variety. Other lines are keenly competed for at the rates mentioned above. The enquiry is mostly for local miiicrs, but the speculative element is also showing. Southern millers are supplying their wants from the Taicri, but the condition of many of the lines offering there at present is not all that could be desired, growers being too anxious to get their wheat into bags. The Taieri crops are yielding well, and. a, considerable quantity is being stored on owners' account in Dunedin stores. The varieties there are mostly Velvet and solid straw Tuscan.

A few sales of fowl wheat arc p-assing at 4s 6d f.o.b. South Island, but the general quotation is 4s sd.

The oats market is in a somewhat peculiar position. Last Monday a firmness "was reported in the Southern market, and this was reflected to some extent in Canterbury. Prices may bo said to have firmed fully a penny per bushel during the week. To-day sales were made in Timaru, at 2s lid, on trucks, country stations, for B grado Gartons, A grade being worth 2s 2d to 2s 2£d, on the same basis. Southern growers, generally speaking, are not evincing any keen desire to sell, and as a certain quantity of oats has been sold at BlufE for extended delivery, merchants are finding it difficult to secure supplies exactly as required. _ It is thought that there will be a big carryover this year. Oatsheaf - chaff is quoted nominally at £&, on trucks, but there is very little offering, and' • the demand is purely locai. Wheaten straw chaff is in fair demand at about Is 3d per sack, delivered, but if, as seems likely, tho; price of oatsheaf in the South comes down, tho demand will fall off altogether. Potatoes are quoted to-day at £5 on trucks, although it is reported that up to £5 10s has been paid during the week for immediate delivery, this being for a few lines • which had to be got quickly for shipment. Quotations right "through the North Island at £3 los f.o.b. South Island, for delivery over the next two or three weeks did not bring about much business, and it would appear that even at £5, on trucks, the market is not altogether sound, in view of the cable messages from Melbourne and Sydney, which indicate a collapse in both these markets. This, however, may be only temporary, and due to over-supply at the moment.

OXFORD CATTLE FAIR. There was an entry of about 350 head of cattle at Oxford , yesterday, mainly small lines of stores. There was a good attendance, and satisfactory prices pr/evailed. Fat cow s made £6 10s to £9 12s (id, fat heifers to £8 12s, springing heifers £7 10s to £8 ss. A line of Holstein springing heifers £10 to £10 10s, springing cows £8 2 S Gd to £9 10s, eighteen-months to two-year-old steers £4 to £0 16s, ditto heifers £5 to £5 15s, yearlings £2 to £8 ss, calves 20s to" 355, bulls £3 10s to £8 12s 6d, fat steers £10 to £15, store cows £2 10s to £i>. A ram sale was also held, when 325 rams were offered. English Leicesters made from 2£ guineas to o guineas, Border Leicesters 2J guineas to 3i guineas, Southdowns 2J guineas to 3 guineas, and Shropshires 2 guineas to 2J guineas. RANGIORA HORSE FAIR. At the Rangiora Horse Fair yesterday, there was an entry of 170 horses. The demand was good for all useful farm horses. Prices were:—Unbroken three-year-old draughts, £26 to £31; two-year-old, £15 to £20; yearlings. £8 to £11; hacks, £3 'to £7 10s; brokenin draughts, three and four-vear-old, £25 to £32; five and six-year-old, £35 to £43: aged horses, £15 to £22; hacks, £7 to £13. LAND SALES. Dalgety and Co. report the following sales:— On account of H. P.- Olney. Esq.. 681 acres at Motunau. to Mr Alan Nichols, at a satisfactory figure. On account of Air \V. G. Gallagher, to Mr J. D. McCracken, Glenariffe Run, as a going concern.

On account of Mr Angus McLeod, Double Hill Station, as a going concern, to Hugh Ensor, Esa.

On account of Mr W. D. Crampton, 140 acres 1.i.p., to Mr A. S. George. On account of John Deans, Esq. (in conjunction with Pyne and Co.). 470 acres, part of Homebush, to "\V. Walker, of Dunsandel.

Also, on account of the Inchbonnie Estate Co.:—

Lots 2 and 4, 421 acres, at £5 per acre. to J. Hansen, of Oxford.

Lot It). 120 acres, at £7 los, to E. Armstrong, of Dallington. Lot 13. 156 acres, at £5 per acre, to Topliss Bros., of Addington. 26

CHRISTCHURCH STOCK EXCHANGE. LATEST QUOTATIONS. BANKS— £ b. d. National •• 526 New South "Wale 3 .. .. 39 0 0 Australasia ■■ .. 112 0 0 New Zealand (£3 6s 6d paid) .. 10 14 0 New Zealand (fully paid). .. 16 12 0 Union of Australia, Ltd. .. 51 15 0 Commercial of Australia (pref.) 5 15 0 Commercial of Australasia, Ltd. 0 IS 9 BREWERIES— Crown M - 1 13 0

Manning .. ' 4 IS 0 Ward .. !.« uh 6 0 0 CEMENTS— Golden Bay -..i 110 Milburn Lima •• .. 1 13 0 N.Z. PortUnd .. ' 0 10 0 -YZ. Portland (preference) .. 10 0 COAL— Taupiri .. .. .. 0 11 9 Westport __ .. .. ... 1 S 6 Stockton .. •• 0 5 3 Stockton (S per oent. pref.) .. 4 0 10 0 FINANCIAL— Christchurch Building Society 11 10 0 Dalg*>tv .. .. 6 16 Dalg«ty (non-euia. pvt.) .. 10 0 0 Mutual Benefit (Canterbury) .. 11 5 0 National Mortgage (ex div.) ... 3 16 0 N.Z. Loan and Mercantile ordinary ... • t N.Z. Loan and Mercantile (pref.) 79 0 0 N.Z. and Biver Plato Land Mortgage 9 0 0 Permanent Investment Cant. .. 9 2 8 GAS— Aahburton (X< 10a paid) .. (09 Auckland .. .. .« 1 S 9Christchurch ■.« ... 7 6 0 .. ... .. 1 12 • Holcitik* .. .. .. 10 0 Napier .. .. .. 16 0 0 New Plymouth .•■ ...• 5 0 0 Timaru .. .. ..800 Wellington .. .. .. IS S 0 Wellington (5 per cent. cum. pief.) 0 19 0 INSURANCE— Farmers' Co-operative (£5 paid) 6 0 0 Fanners' Co-operative (£2 10a pd.) 3 0 0 National .. .. .. 2 11 l> New Zealand .. .. .. 6 3 0 South British .. .. .. 5 0 0 Standard -. .. .. 1 16 0 MKATS— Canterbury .. ..800 Canterbury (6 per cent. cum. pr*f.), (cum div.) .. .. .. 5 2 6 Christchurch (£lO paid) .. 17 0 0 Christchurch (£5 paid) .. 8 5 0 Christchurch (£3 paid) .. 4 17 S Christchurch (£2 paid) .. 3 <: 0 Gear (£t paid) .. .. 16 5 0 Gear (i'l paid) .. .. 4 5 0 Wellington (£5 paid) .. 6 0 0 Wellington (i' 4 psid> .. E 0 0 Wellington (£2 10a Gd paid) .. 2 16 8 TIMBER— Kauri (fully paid) .. .. 117 ® Kaurj (15e paid) .. •• 0 15 0 Levland O'Brien .. .. 12 0 T.iringamutu .. .. 1 IS 0 MTcpTSM.ANRrvnP— Ashburton Electric Light .. 10 0 Auckland E'.cctric Trams .. 110 Auckland Trains (6 per cent„ prof.) • • • • 018 0 Booth, Mucdonald •• •• 10 0 Booth, Mncdonald (6 per cent. cum pref.) •• •• •• 10 0 Cooper and Duncan (20s paid) 0 0 Cant. Farmers' Co-op., Timarit 216 0 Cant. Farmers' (pref. re div. only) •• •• 5 0 0 Canterbury Saleyai'ds •• •• 60 0 D.I.C. (10b paid) .. .. 0 10 0 D.I.C. (5« paid) .. .. 0 5 0 D.I.C. (6 per cent, pref.) .. 10 0 Donaghy's Rope .. •• 12 0 Glenmore Brick ... •• 0 15 0 Mason, Struthera (£1 paid) .. 1 i Mason, Struthera (Us paid) .. 014 6 N.Z Consolidated Denial .. 110 N.Z. Drug •• .. )2 4 0 N.Z. Farmers' Co-op. .. .. 2 7 6 K.a. Farmers' Co-op. (Ist pref.) 53 6 N.Z. Farmers' Co-op. ("A" shares proferonco re div. only) .. 5 0 0 ' N.Z. Paper Mills .. .. 0 18 6 Perpetual Trustees .. .. 12 0 Sharland and Co .. .. 14 6 Sliarland and Co _ (pref.) .. 14 6 Simpeon and Williams .. 10 0 Simpson and Williams i"JOs paid) 010 0 Trusttcs, Executors and Agency 216 6 Warro, Hockley .. .. 6 0 0 W~ks. Ltd. .. .. .. 5 3 8 Whitcoiube and Tombs .. 6 3 0 SHIPPING— New Zealand .. .. .. 20 0 0 New Zealand (6 per cent, pref.) 10,10 0 Union Steam .. .. .. 19 3 Union Steam .. .. .. 110 Huddart-Parker •. . • fl 1 0 Huddnrt-Parker (6 percent, pref.) 110 Northern Steam .. .. 0 14 0 Northern Steam (7a paid) ' .. 0 6 6 c. Kaiapoi .. .. .. 5 10 0 Kaiapoi (pref. re dir. only) .. 5 5 0 Mosgiel .. .. 3 17 6 Oamaru .. •• .. 16 5 O smaru (preference) .. .. 16 8 Wellington .. .. .. 55 0 Wellington (6 per cent. cum. pref.) 3 7 6 MINING— ' ' Waihi .. .. 1 15 3 Junction .. .. ... 0 18 9 Talisman .. .. 0 11 6 Hercules .. .. i.. 0 16 S Mount Lyell .. ... .. 19 0 +E* div. •Cum. Dividend. YESTERDAY'S BUSINESS ON OTHER EXCHANGES. (rEESS ASSOCIATION TELEGRAMS.) WELLINGTON. Sal«: —Golden Bay Cement, 21s 2d. Mining quotations:—Success Drodg#, ee{~ lera 30s; Talisman, buyers 12s; Waihi, buyers 3oe 3d. DUNEDIN". ' Sale:—Union Steam Ship. 29s (three parcels). .