COMMERCIAL.

Press, Volume LVI, Issue 16812, 19 April 1920, Page 9

COMMERCIAL.

■ • BANK OF E3CGLAXD. BETUKKS. Ca K !e —■ f ' rC33 Association—Copyright.) (Australian and N.Z. Cable Association;) LOJsD-OiN, April 15. The Bank of England returns for the week onclcd April 15th afford the following' comparison wilh. theso for the previous week: — April 8. April io. ' £ £ Coin and bullion .. Ill; 667,000 111,985,000 Reserve '.. .. 27,781,000 24,881,000 .Proportion of reserve to liabilities per cent. . 15.00 17.50 Notes in circulation 103,811,000 106 018 000 Government deposits 24,078,000 19 315*000 Other deposits < .. 13:j,708,000 122)889,'000 Government securities 50,049,000 55,119 000 Other securities .. 93,550,000 Short loans, 5J per cent., three months' bills, 6| per oent. The J rsuch bank rate has been raised to 6 per cent. GOVERNMENT SECURITIES. . LONDON, April 15. The following ere the latest quotations for Government securities, with a 'coamarison with those ruling last week:— Last week. This week. £ ■. d. £ s. d. 2J per cen t t imp, (j on< 4G 2 6 46 0 0 5 per cent: Imp. War Loans .. .. 87 17 G 87 5 0' 31 per cent. Imp. War Loan .. .. 81 0 0 SO 12 ' 6 5J per cent. C'wealth « Loan .. .. 95 17 6 95 5 0 5J per cent. C'wealth „ Loan .. .. 94 0 0 94 2 6 N.S.W. 4s, . 1933, Jan.July -- 76 15 0 76 7 6 N.S.W. 3i's, 1035-50, April. Jan.-July .. 63 10 0 62 10 0 N.S.W. 3'a, 1935, April-October .. 60 5 0 59 15 0 Vic. 4's, 1920. Jan.-Jly. 9S 12 6 98 10 0 Vic. 3J's, 1921-6, Jan.July .. 83 9 0 . 83 0 0 Vic. 3i's, 1929-40, Jan.- ■ .. 56 0 0 55 10 0 Vic. 3's, 1929-49, Jan.. Jidy • .. 61 7 6 60 10 0 Q'land 4's, 1924, Jan.July .. ..88 0 0 87 5 0 Q'land SJ'i, 1921-24, Jan.J'uiy ..'M 0 0 84 0 0 Q'land 3's,' 1922-47, Jan.July .. .. 56 .0 0 55 0 0 Q'land 3i's, 1930-40 .. 94 0 0 94 0 0 N.Z. i'e, .1929, May- .. .. *80 10 0 go 0 0 N.Z. 31's, 1948, Jan.- . July .. ' .. 66 10 0 66 0 0 N.Z. 3's, 1945, April- • October .. 57 10 0 57 0 0 S-A. 3J's, 1916 or after 66 17 6 67 0 0 S.A. 31's, 1939. Jan.-Jly. 49 10 0 49 10 0 Tas. 3i'e, 192CM0, Jan.July .. .. 65 5 0 65 0 0 Taa. .Ts. 1920-40, Jan.July •• 64 0 0 63 5 0 W.A. 3§'s, 1920-35, May- 0 November .. »71 0 0 70 10 0 WA. 3's, 1915-35, May- „ November .. *69 0 0 67 10 0 * Ex dividend. LONDON STOCK EXCHANGE. LONDON, April 15 The Stock Exchange is fairly steady as the increase in the bank rate is apparently pretty well discounted, but the wcakress of Colonials is nccentauted bv tho joint et'ook banks raising their depoWf rates to 5 £r cent, FOREIGN EXCHANGE RATES. April 35. Par. Apl. 12. Apl. 15. Paris (fr.) .. 25.22 67.50 65.20 Christiania (kr.) .. 15.16 420.75 . 19.50 Stockholm (kr.) .. 18.16 17i>3 17 99 Calcutta (rpe.) .. 10.11 27Jd 27Jd Montreal (dol.)> . .. 4.35 4.30 "432 New York (doL) .. 4.85 3.D5J 3.'97 l Rome (lire) .. 25.2'2} 104 '93 SHARES. (Received April 17th. 5.5 p.m LONDON, April 17. P. and O. (def.)—Buyers £510, sellers £530. DALGE'frS DIVIDEND. (Received April ISth, 5.5 p.m.) LONDON, April 17. l>algety and Co., Ltd., hare declared an interim dividend of five shillings per share, ree of tax. UNITED STATES WHEAT PEICES. (Received April ISth, 5.5 p.m.) "WASHINGTON, Ariril 17. Mr Barnes, head of the United Str.t'-s Grain. Corporation, has against tiie ;ontinnance of the wheat price guarantee berond June Ist, when the v.rcieut guarantee :apses. He points out that the present- martet price of grain is greater the guaimteed price. WOOL SjiLES. . , ■_ . LONDON, April 15. At the Liverpool wool sales there was a jood attendance, and keen competition for all lorts. Compared with London closing rates, jrecsy merino combing and good Ecoureds vero from par to 5 per cent.' Average icoureds were unchanged, greasy crossbreds srero firm, and euped and ecoureds were unhanged. The Bradford tops market is firm, and there 3 little buying, as spinnere ate P-waiting the jpezung of the London

RABBIT SKINS. . LONDON". April At the rabbit skin sales there was a poor demand and an average decline ot oO per cent, compared with the 1-obrtinry Best furriers' sorts were %nost!y withdrawn. ENGLISH MARKETS. LONDON, April 10. meat—Fair bus:core is being don© in tralian passace carpoes at o£s. On sp quiet, Australian 103s. . Flour—A fair qr.nntitv is being aLocated. Oats—The market is anil. _ Peas and Beans—Tho market is quiet. and prices arcs unchanged. , LONDON, April 1.. Rubber—Para 27d, Plantation 25Zd; smoked 2G|d. , r , . J"irte—Tho market is dull. April-Hay shipment £62. _ , »„,-i Hemp—Tn/> market is slow. February-April shiD-ment £50. . • Copra—April-Juno (nominal) £so. Linseed Oil—£lo3 per ton. Turpentine—2oSs per cv,-1. Cotton —May shipment 25.56 d. BRITISH' CHEMISTS DISCOVERY. In the "Chemical Ace" (London), Mr F. 'j. "Weston, a Troll-known authority on chemistry, announces the results of a long 1 series of experiments, as to tho u&o of in soap manufacture. His conclusions, ir verified, promise to have far-renclnng on the soap industry of Great B.itain, ana to effect an enormous rod-action in the cost of manufacture. The essential feature of tlio process is the substitution of col.c.dal. clay to a large extent for the fatty acids, derived from animal and vegetable now used. Colloidal clay is prepared from china clay, a product in which this country :s rich, and if it becomes commercially cuccessrul as a substitute for fatty acid?, the eject on the cost of soap rroductioii must bo very marked. Mr "Weston's conclusions are to be subjected to experiments by independent experts. MAXEVnJM PBICES. FIXED FOR FLOUR. BRAN, AND POLLARD. Regulations fixing the maximum prices for flour, bran, and pollard wero pubhsned in. last Thursday's "Gazette." Tho price of flour is to be £16 10s per ton f.o.b. at South Island ports in tho wheatgrowing districts, less 2J per cent, if ment is made within eeveu days after delivery. In the case of a sale otherwise than in this manner, the price shall be equivalent as~ regards the seller to the price"!x.ed as tho maximum. When the miller's, nearest port is other than Lyttelton, Timaru, or 9^ na , 1 ? 1 ' the price is to be £18 per ton t with tho eamo conditions as to payment, but thoro may be added to tho price tho cost of carriage of a ton of flour from the nearest ot these named wheat ports to the nearest port of shipment. Tho prico of bran is to be £7 per ton f.o.b. at Lyttelton, Timaru, or Oamaru, and in tho case of other ports of despatch, this amount, with the addition of the amount of carriage to that port from Lyttelton, Timaru, or Oamaru, whichever is least. Tho price of pollard if) to be £9 per ton, .with tho same conditions. In every ccse provision is made for a rebate of 2i per cent, for payment within seven days of delivery. Provision is made for allowing a, profit to merchants selling bran and pollard in small quantities. If tho sal© of a quantity of half a ton or more the price may be 10s per ton in the case of bran, and 15s p©r. ton in tho case of pollard, above the scheduled prices alneady given. In pales of quantities of less than half a ton, an excess above the scheduled price of 12s 6d per ton for bran, and 17s 6d for pollard, ia to be allowed. These prices are all maximum prices. It will be. quite lawful for any seller to sell at less than these prices, but not to exceed them. A clause at the end of the regulations Is- evidently intended to meet special cases. It provides that tho Board of Trade may authorise the sale of flour, bran, or pollard in any specified locality, or by any specified seller, at prices greater than those prescribed ( in the schedules of the regulations.

TALLOW. MessTs Booth, and Co. have received the following cablegram from their London office ■under date 14th inst. .-—There was very little demand for tallow at the Bales to-day, and values receded about £7 per ton. Quotations Edible mutton 102s Cd, edible beef 105s, good mutton 103s, good beef 100s, good colour 995, no colour 925, gut 80s 6d. Tho Now Zealand Loan and Mercantile Agency Company, Ltd., advise having received the following cablegram from London under dato April 14th:—Tallow—We quote present spot values for the following descriptions of tallow:—Firio mutton £5 2s, good beef £5, mixed £i lis 6d. Nominal prices. Small demand. TATTERS ALL'S HORSE SALE. Messrs i. Matson and Co. had an entry of 78 horses on Saturday. Although no outstanding lines were entered, there were a number of good useful draughts, which sold really well at fully tip to late rates. In spite of the large number of clearing sales being held in the country, the demand for draught horses remains as keen as ever, and on Saturday all good sorts wore readily placed. Among the" principal sales made were:—For southern client four-year-old filly .£l2 10s, four-year-old golding £3 10s, five-year-old gelding £15, aged mare £16, five-ye<ir-o 1 d pony £9, six-year-old gelding £8, six-year-old mare £10; South Canterbury client, seven-year-old mare £14, eight-year-old mare £25, nine-year-old ma-re £27, nine-year-old gelding £16,' eight-year-old mare £24, eight-year-old mare £10 10s; Mt. Torlesse Coal Co., aged mare £7 10s, sis-year-old mare £22; D. McGregor (Lllesmore), six-yoar-old mare £36; T. Lain- ' port (Spreydon), eeven-year-old mare £16; L. Radford (Little River), seven-year-old gelding £12; client, seven-year-old gelding £14 10s; J. Clemens (Sydenham), eight-year-old mare £21 10s; Mrs Dawson (Dunsandel), aged gelding £10 15s; R. Smith (Durham street), nine-year-old mare £12; T. J.. Henderson (Tai Tapu), three-year-old gelding £12 103; J. Craig (Tai Tapu), eight-year-old mare , £10; J. P. Barx (St. Albans), eix-year-old £14; D. Duff (Ellesmere), horse, cart, and harness £25; A. Peril am (King street), aged gelding 1 £14. THE PROPERTY MARKET. Jones, McCrostio Company, Ltd., sold by publifi auction on Saturday in their land sale rooms, on acoount of the Public Trustee, a s trustee of S. J. Williamson's trust, a residence of four rooms, situated at No. 19 Willow street, just off Oxford terrace, to Mrs McTeiguc, for £195 10s. 'A 12S-acre farm at' Yaldhurst, tho property of the trustees of the late Jacob Parish, was sold by auction by Pyne, Gould, Guinness, Ltd., on Saturday, to Mr E. J. Smith for £55 por acre. The New Zealand Farmers' Co-operative Association offered at auction on Saturday, at their land sale rooms, Casfcot slreet, two Canterbury farm properties. The first was tho well-known Stormlea Estate, Methven, comprising 1017 acres, subdivided into 22 paddocks, and equipped with tcn-roomcd residence and all necessary outbuildings, nearly new. The property was offered oil behalf of Mr T. C. Jessep, and was passed in at £29. Under instructions from tho trustees of the late Martin O'Xeil. an agricultural farm of 19S acres at Lincoln was submitted. The property has been in possession of the O'Neil family for over 40 years. It was also passed in, at £42 an acre. CLEARING SALE. The New Zealand Farmers' Co-operative Association, Ltd., held a clearing sale at j Upper Hackthorne on Friday on behalf oi Mr H. J. C. Haxper. The principal soles were: — 550 two-tooth ewes, at 335, 450 four-tooth ewes at 335„ 241 sir.-tooth ewes at 32s 3d, 200 at 32s 3d, 300 eight-tooth ewca at 2Ss Od, 310 at 23s -7d, '400 ewe hoggets at 30s 7d, 541 two-tooth wethers at 24s 9d, 56 at 21s 3d, 36 fat lambs at 25s 4d, 91 two, four, and 6ixtooth ewes at 25s 6d, 408 wether lambs at 19s Id. 201 fat ei?es at 275, 307 four and five-year-old ewes at 29s 9d, 7 two-shear Corriedale rams at 6gs, 7 three-shear at og6, 2 threeshear Border Leicester rama at 4i|S, 2 at 3jgs, 3 at 2£g-s, 2 at ljgs, 2 cows m profit at £10 10s and £12. 2 hcifera in calf at £8, 11 horses at £18 to ££3. SATURDAY'S POULTRY MARKET. Messrs J. B. Mcrrett and Co. had a large entry of poultry on Saturday. The demand was very keen, and priccs are inclined to firm. Prime birds were eagerly sought for. Table chickens realised 7s to 15e 6d, growing chickens Is 6d to os Gd, table duck.ingj to 13s, ducks 7s to lis, hens 4s 6d to 9s 3d, pullets lis 6d to 233, turkeys ISs Gd to all at per pair. EGG MARKET. The egg supply has fallen considerably, and there is a keen demand. Canterbury Egg Circle first grades from to-day's listings wi:l be 3s Gd first -grades, 3a 3d ecccnds. 6 CHRISTGHURCH STOCK EXCHANGE. Sale reported :—Union Bank of Austra..a, £13 ISs. DUNEDIN STOCK EXCHANGE.^ Sales reported:—Mount Lyell, 26s 9d: P. and 0., £560; Howard Smith, 50s; WestportStorkton, Ss 6d; Westport-Stochton (pre;..<, 103 ea.