COMMERCIAL.

Press, Volume LII, Issue 15751, 18 November 1916, Page 7

COMMERCIAL.

(By Cable.—Press Association.—Copyright.) (Australian and N.Z. Cable Association.) BANK OF ENGLAND RETURNS. LONDON, November 16. The Bank of England returns issued on AVeflucsday, -November loth 3 afford the following comparison:— .Nov. s. J*ov. 15. _. £ £ .. .. 54.359.000 54,529,000 Reserve .. .. 37,773,000 a 5,031,000 Proportion of reserve to liabilities ... 23.20 22.55 Circulation .. „ 37,172.000 36,594,000 Pubhc deposits .. 51,597,000 53.735.000 Other deposits .. 112032,000 114.923,000 Government securities 42,188,000 42,183,000 Cther securities .. 100,653,000 106,234,000 Short loans, 5 per cent.; three months' bills, 5J per cent. GOVERNMENT SECURITIES. _ The following are the latest quotations for Government securities, with a j comparison with those ruling last week: Price Price last week, to-day. £ s. d. £ e. d. -j per oent. Imp. Con. 5G 0 0 56 0 0 3i per cent. War Loan 84 10 0 84 10 0 U- per cent. War Loan 96 0 0 96 0 0 N.S.W. 4'», 1933, Jan.J 1 ! - - .. .. S3 2 6 S3 15 0 h.S.W. 3J'e, 1830-50, Mch.- „ Sept. .. .. 7! 17 6 72 0 0 i v -S.W. 3Vs, 19-20-30 .. 95 10 0 95 10 0 H.S.W. 3's, 1925, Apl.- ■■ .. 69 15 0 69 7 6 Vic. 4's, 1920, Jan.-Jly. 93 15 0 94 0 0 Vic. 3£' a. 1921-26. Jan.Jir. « 0 0 fj 15 0 Vic. Si's, 1920-49 .. 70 15 0 <0 12 6 Vic. 3's, 1920-25, Jan.-Jly. 62 10 0 G2 12 6 Qland. 4'«. 1915-25, Jsn,Jly- - .. 83 5 0 83 5 0 Qlmki. SJ'«, 3922-47, Jan.- , Nov. .. „ S5 15 0 85 13 0 Qland 3's, 1922-47, Jan.- | Jly .. 63 0 0 63 0 0 I N. 2. <Ts, 1929, May-Nov. 81 0 0 SI 0 0 j N.Z. HVs, 1940, Jan.-.Tlv. 72 15 0 73 0 0 1 N.Z. 3's, 1920, Apl.-Oct. 63 5 0 63 5 0 S.A. 3.Vs, 1916, Jnn.-Jly. 73 0 0 73 5 0 S.A. 3's, 191fi, Jan.-Jly. 58 15 0 59 0 0 Tas. 31'b, 1920-40, Jan.- „ J !y- .. .. 73 0 O 72 15 0 T«. 3'«, 1920-40. Jan.--Jly- .. .. 66 0 0 66 2 6 WA.. 3i'«, 1915-35, MayNov. .. .. 75 0 0 71 17 C W.A. 3'b, 1915-35, May. Nov, .. .. 70 5 0 70 0 0 SHAKES. Waihi: Buyers 34s 6d ; sellers 35s 6d. DAIRY PRODUCE. Butter —The market is very firm, owing to the limited supply. Quotations: Danish, 220s to 2225*; New Zealand, nominal; choicest Australian, 204s to 2065. unsaltcd 208s. to 210s, secondary, about 200s, milled 108s; Argentine, salted, 200s, unsalted, 20Gs. Cheese—There is only a small supply of hand-cured. Quotations: Canadian, 120s to 1245: New Zealand (nominally) 120s. SUGAB. The market is unchanged. WOOL. The Bradford wool market is excited and disturbed. Topmakers are not willing to sell, and business is very limited. Alean quotations are:—64's 61 d, super 60's 60d, common 60's 59d, 56's 4oid, 50's 36Jd 46's 31d, 40's 29id. CEREALS. Wheat—The market is firmer. .No cargoes are offering. Flour —The market is easier. There is only hand-t-o-mouth business, the trade awaiting developments. Oats —Tho market is firm. New Baliia Blanca, ex quay, is worth 44s per quarter. Peas and beans —The market is firm. METALS. Copper —Spot, £134 15s, three months £130 ss; electrolytic, £153 10s. Tin—Spot, £189 2s 6d 3 three months £190 17s 6d. Lead—Spot, £30 10s, three months £29 10s. Spelter—Spot, £56 15s three months £54 ss. Silver —34d per ox. MELBOURNE MAHKETS. MELBOUHNE, November 17. Oats —Algerian milling, 2s 2d to 2a 3d; feed, Is lid to 2e. Potatoes—£B to £10. Onions —£6 to £G 10s. • Dalgety and Company, Limited, have received the following cablegram from their London office, dated November 15th:—"Tallow —At the weekly auction prices opened 6d per c.wt dearer, but at the close were Is to 2s dearer. The principal advance was in the lower grades."

GRAIN AND'PRODUCE MARKETS. (BT OUR COIIinSHOIAi EDITOR.) Friday Evening. The wheat market is very firm, as there is a keen demand, which connected with the fact that supplies are difficult to obtain, make the position acute. The rise in the price of wheat has brought it'above the level of the price of flour, and millers consider that there should be an advance in the latter. The keen competition in the /flour market evidently prevents this being brought about. "There is practically no wheat held in merchants' stores, and very little is coming forward from growers. There is no change in oats, but there has been a little more enquiry for chaff. The potato market is _ somewhat easier, as the season is practically over, and the price is just what growers can obtain. Few orders are now coming in, and offerings are verv limited. Although a sale was made on Wednesday at £10 7s 6d, at a country station, it is stated that next day a lot was bought at £8 10s.

The following are the prices paid to farmers at country stations, free of commission, sacks extra, except where otherwise stated: — Wheat—Milling Tuscan os to os Id, Hunters os 2d to 5s 3d, and Pearl os 4d to os sd, at country stations. Oats—2s 8d to 2s lOd for Gartons, and 2s lOd to 3s for Duns. Barley (nominal) —Malting 4s 6d to 5s 3d. Flour—£l3; 1001b bags £13 10s, 501b bags £13 los, 251b bags £14. Bran—£4 per ton for shipping. Pollard—£7 per ton for shipping. Oatmeal—2sll> bags £17. Oatsheaf chaff (nominal) —£3 5s to £3 10s for prime. Cocksfoot —121b seed 9d, 131b' seed 9R 141b seed lOd. Potatoes (nominal) —£10 to £10 10s for immediate delivery. Pons (nominal) —Partridge 4s 6d to 4s 9d. DAIRY PRODUCE. Prices are without change in dairy produce, and supplies arc sufficient for requirements. Wholesale priccs are:— Butter—Factory Is. 6cl (less discount), farmers' separator Is Id to Is 2d. dairy Is to Is Id. Cheese—Factory (last season's) lOd, dairy 9d. loaf 9d. Bacon—Sides lid. rolls Is. ham Is. Honey—Extracted orl per lb. Eggs—lid per dozen. FRUIT AND VEGETABLES. Supplies of vegetables are increasingly plentiful, and there have been fair of imported fruits. A shipment of oranges, lemons, and apples is just due from San Francisco. Early in the week a consignment of onions is expected from Melbourne. There will be the usual weekly shipment of fruit from Sydney, and regular supplies of North Island potatoes will now come to hand, principally from 'Wellington, the Auckland crop being late on account, of the abnormally wet winter and spring. Wholesale prices are:— Local dessert apples 4Jd per lb, 'Frisco apples 16s per case, Sydney; oranges 12 s to 15s. Sydney Yalenciasj 17s to 19s, mandarins 14s 6d to 17s 6d, i Auckland lemons 16s. 'Frisco lemons 40s per double case, Fiji bananas 17s to 19s per case, passions 13s to 15s, "pineapples 18s to 20s, local cherries Is 7d to'ls 9d per lb. local tomatoes Is 6d to Is 9d. gooseberries 2d to 2Ad. cucumbers 7d to Sd. Potatoes 17s 6d to 18s per sack,

i North Island new potatoes 3d to 3ia per lb, cabbages Is to 2s per dozen, cauliflowers 4s Gd to 8s 6d, carrots 10d to lid., parsnips Is to Is 2d, rhubarb us to 6s. lettuce 9d to Is 3d, asparagus 4s 6d to os 6d. leeks 4d. radishes 3d to 4d, spinach Is to Is 3d. local peas Is 3d to Is 7d per peck, Melbourne onions lis per cwt. GENERAL MERCHANDISE. Tea —Reports from Ceylon state that the market is strong and active, with ail improved demand for common medium leaf. Broken Pekoes were strongly supported, and sold well. Pekoo Souchongs came in for more attention at dearer rates. The dato steamer to Australia witli transhipments for New Zealand is absolutely full, and there is do moro room even if sellers had dates To offer. Early buyers should do well" if shipments are sccured. Currants are so high that few sales are being made. It is very fortunate so far as the New Zealand market is concerned, that Mildura• currants bavo taken the place of those that could not come forward from the Mediterranean. Very large shipments of Californian fruits have now arrived by the Tancred, and buyers will be considerably relieved that the fruit will arrive* in plenty of time for tho Christmas trade this year. Further shipments arc expected by a later vessel. Most packers arc delivering only 75 per cent, of contracts, and have withdrawn all prices on figs and raisins. This condition has been brought about by the most unusual weather. Usually during the curirijT season good weather prevails; at the most an occasional shower; but this year continuous rain, lias obtained for over ten days, and a large percentage of tho crop has been badly damaged or destroyed. Salmon is coming forward very slowly, and in view of the onormous domand from England for lib flats, this market will have to bo content with lib tails t and half-flats. Prices inBritish Columbia -have so advanced, and tho supply is so short, that it has become almost an impossibility to secure definite confirmation. The market in rice is rather excited, as the Australian dressers of rice may be obliged to shut down owing to shortage of power. Linseed oil has advanced during the last three weeks in the neighbourhood of 2d per gallon. . White lead remains nominally tho same, except, that several cofroders and grinders have advanced their prices. Pip: iron is in very short supply, but the Government have issued forms to bo filled in, which may be the means of assisting the foundry industry, and which it is hoped will help to ease the embargo on exportation. Bar iron ha s advanced ' during the week £1 10s per ton.

DUNEDIN WHEAT MAR.KET. DUNEDIN", November 17. Flour has advanced another 10s, and is now quoted "up to £13 10s a ton, while millers state that the present price of wheat would justify an. advance of yet another pound. The statistics do not indicate a present shortage of wheat, but the fact appears to be, nevertheless, that there are few quotations, and those at impossible prices. This, of course, creates a shortage, however much wheat may be available. One well-known miller states that m answer to twelve separate enquiries for wheat he received two quotations, and those were at the prohibitive price of os 9d a bushel, on trucks, in South Canterbury, which amounts to 6s Id at Dunedin.

TIMARU MARKETS. (spjscial to "nm press.") TIMARU, 17. Quite a lot of business . could < have been done on the local markets "this neek had the necessary, wheat been offering, but it was not. ■ The surplus which, should have existed, had the Government statistics been correct, is stall being looked for in vain. It is known that a good many farmers are still holding -wheat, hut no trace can be found of anything like the quantity that there should be had there been a yield of seven million bushels, as the statistics showed. The farmers "who "still hold wheat are showing no inclination to sell, and the flour mills are finding it almost impossible to get supplies at a reasonable price. A few sales have been made during the week. A parcel of Velvet changed hands at 5s od, Red chaff at os 7d, and Tuscan at 5s od, all delivered. To-day's quotations are: Velvet 5s 9d to os lOd, Tuscan os od to os 6d, ajid Hunter's 5s 7d, delivered. Some smutty wheat has been gold at 4s 2d and 4s 3a, f.0.b., 5.1., while fowl wheat is worth os on trucks. Oats are in short supply and vei-y few are offering. B Gartons were sold to-day at 2s 9Jd, on trucks, country stations, and another line of very nice milling oats at 2s Hid, in trucks. The season for old potatoes is practically over, but prices are still high, £10 10s at country stations being paid to-day. This price is not expected to hold "for any length of time, as new potatoes in Australia are now quoted at £9 10s, f.0.b., Sydney. Moreover, weather conditions have improved in the Auckland district, with the result that larger supplies of new potatoes are coming on the market there.

NEW COMPANIES. Registration of the following new companies is announced in this week's ''Mercantile Gazette' 5 :— Holmes and Son, Ltd. Registered as a privat-e company October iith, 191<3. Office: 130-132 High street, Christchurch. Capital: £(3032, into '<5032/ shares of £1 each. Subscribers: Springfield, Hugh Cassidy 2233: Christchurch, Thos. Cahill 915, Hugh Cabill 1884, Catherine Cahill 1000. Objects: To carry on the business of furnishers, upholsterers, etc., lately carried on under the stylo o f f Holmes and Son at Christchurch and Timara. Canterbury Motor Company, .Ltd. Registered as a private company November 2nd, 1916. Office: IG6 Tuam street. Christchurch. Capital: £3000, into '3000 shares of £1 each. Subscribers: Jv. J. Jay 2000, Ttobt. "Wright 500, Edmond F. Thornton 500. Objects: To carry on the business of motor warehousemen, manufacturers, and importers of machinery and motor accessories.

CHRTSTCHI7RCH STOCK EXCHANGE. YESTERDAY'S TRANSACTIONS. Sales reported:—Union Stecm. £-2 4s Gd. LATEST QUOTATIONS. (fully paid) 17 5 0 17 7 6 Union •• •• ~ 5-10 0 COalj— Stockton •• -• 0 6 6 Stockton i'S p.c. prof ).. 010 6 — FINANCIAL— Dalgety •• .. 6 7 0 — N.Z. and River Plate Land Mortgage — 2 10 INSURANCE — National ~ .. 216 0 3 0 0 New Zealand .. 615 0 7 0 0 SHIPPING— Huddsrl p3rker .. — 14 9 ..Unicm •- 243 249 MISCELLANEOUS— Colonial Sugar (Fiji) .. — 21 5 0 D.I.C. (6 p.c. prof.) .. 10 0 — Mason. Struthers (£1 paid) .. .. 12 0 — N.Z. Drug- C-o. (£2 paid) 0 7 0 — N./,. Farmers' Co-op. — 2 8 G N.Z. Paper Mills .. 017 9 — DAILY MEMORANDA —Saturday, Nov. 18. AUCTIONS. Craddock, McCrostie Co., Ltd., at their rooms, 12 noon—Property. H. Matson and Co., at Tatteraali's, 11 a.m. — Trotting mare. Harris Brce., at Smith street, Kaiapoi, 1 p.m.—Furniture, ctc.