BANK OF ENGLAND RETURNS.

Press, Volume LVII, Issue 17223, 13 August 1921, Page 7

BANK OF ENGLAND RETURNS.

LONDON, AugnLst 11. The Bank of England returns for the welt ended August 11th nfiord the following comparisons with thoso of the previous jveek:— Aug. i. Aug. 11. Jg £ Onin «nd bullion .. 133,563,000 126,565,000 Reserve .. 18,133,000 19,206,000 Proportion of reserve to liabilities, p.c. .. 14.50 14.55 Note circulation 128,699,000 127,554,000 Government deposits 16,318,000 18,259,000 Other deposits .. 105,710,000 114,197,000 Government securities 47,687,000 60,116,000 Other securities .. 77,281,000 81,107,000 Short loans, 4 per cent.; three months' bills, 42 per cent. GOVERNMENT SECURITIES. The following are the latest quotations for Government securities, with a comparison with those ruling last week:— « Last week. Thiß week.

FOREIGN EXCHANGE RATES. LONDON, August 11. The foreign exchange latea on London are as follows: Par. Aug. 9. Auff. 11. Paris (fr.) .. 23.362 46.48 46.70 CViatiania (kr.) .. 18.159 28.25 28.16 Stockholm (kr.) .. 18.159 17.53 17.45 Copenhagen (kr.) 15.159 23.57 28.47' Montreal (dol.) 4.86 4.07 4.05 New York (dol.) .. 4.86 B.6sjfc 3.634 Yokohama (ven) .. 24 j 32id S2ld Hans Kong tdol.) .. 831 33d 32Jd B-rlin (mark) .. 24.48 MS 297 Calcutta (rpe.) .10 to gold eot. 15Jd l£|d METALS. ' (Received August 12th, 9.40 p.m.) ) LONDON, August 11. Copper—Spot £7O lis 3d,' forward' £7O 6a Sd. Lead—Spot £2B 10s, forward £23. Spelter—Spot £26 100, forward £26 6a. Tin—Spot £157 2s 6d, forward £163 12s 6d. Silver—37§d per ounce. BRADFORD WOOL MARKET. LONDON, Ausrnsb 11. ' In the Bradford wool market little "busiiLosa is being done. Prices are unchanged. DAIRY PRODUCE. LONDON, August 11. _ Butter—The market is Ann, and there is a good demand for Australian and New Zealand. It is expected that til© Government will raise the price to-morrow about 6a a cwt. Fiee Australian, ex Offlnonde aid Kent, is selling on about a parity with Government prices.' The quality and condition market is slightly easier.'New Zealand, white 182s to 188s coloured 182 a to 134 e • Australian, white ,124 a to 128s, coloured. 120s to 1265. ' : ' ENGLISH MARKETS. LONDON, August 11. "Wheat—The market is quiet and steady. Australian, ex quay, 775. Flour —The market is dull. Australian, ex mill, 68s. , j Oats—The market is steady. Beans —The market is firm,. and prices are dearer. . Pea»—Piloes are advancing. Taematiian blues 520s to 600sf, New Zealand 500s • to ■Sugar—T%e market is firm. Granulated 61e 6ds. VICTORIAN MARKETS. ' MELBOURNE, August 11. Barley—English, 4a 7d to 4s 9d; Cape, 8e 9d to; 8a lOd. Oats>—2s 9d to 2s Bd. totatoea—£3 10s to £5. Onions—£B 10a to £4. The "Wheat Commission advise® that quotations for wheat and flour for export, October shipment, are now obtainable at 7s 3d a 'bushel. . HIDES. MELBOURNE, August 12. Hides—The market ie firmer., and prices are unchanged. Kipe are in keen request. LONDON WOOL SALES. ' Dalgety and Co., Ltd., have received 1 the following oablegram • from ; their London office, dated ( August. 11th:—"Wool —The Colonial Wool Merchants' Association have agreed with B.A.W.R.A. to offer five bales of free Australasian to six of B.A.W.R.A. in each London series. TMb arrangement to last until end of this year. Ftor the AugustSeptember sales the quantity of Punte Arenas wools to be offered hsa been reduced to 16,000 bales." FROZEN MEAT. Dalgety and Co., Ltd., have reoeived the following cablegram from, ; their Ix>ndon office, dated August 11th:—"Froien Meat— The market for light and medium weight mutton and lamb is firm but expect any change In prioes will be in favour of buyers. The beef market ie extremely''dull; there (being scarcely any Jeanand," TALLOW. Messrs Booth and Co.'s London house advises that there was sharp competition at the tallow auction on the 10th inst. The en** tire offerings amounting to 1687 casks werfc. cold, arid' prices advanced .6a per cwt all round. Market conditions show a maried improvement and prospects for. future business brighter. . ... Dalgety and Co., Ltd., have received the following cablegram from their London office, dated August 10tK:—"Tallow—At the weekly auction 1700 casks were offered and practically all sold. • Prices were 6s. to 7s 6d dearer. We quote fine mutton 48a to 49®, good 45s 6d to 465, fine beef 51b, and gut 88s." CHSISTCHURCH STOCK " EXCHANGE. YESTERDAY'S TRANSACTIONS. ' Sales reported:—N.Z. Government 4J per cezbt. Inscribed, 1938, £B3 16s; Standard Insurance, £2 12s 3d. Sale on 'Change—Bank of Australasw, £BB 10s. LATEST QUOTATIONS. Buyers., Sellers.

WELLINGTON, .August 12. Sales on 'Change—New Zealand IMticeroting, 16a 3d: Government inscribed slock, 1933, £92 2s 6d.

AUCKLAND STOCK EXCHANGE. (SPECIAL TO "THE PRESS.") ATTCKLAND, August 32. Quotations —Bank of Australian, buyers £B6; Notional Bank, • tellers £3 Job, buyers £5 lis: Bank of New South Wales, tuyere £35; Bank of New Zealand, sellers £2 9s, buyers £3 &» 6d; National Insurance, bwera £2 19s 6d; New Zealan-1 Insurance,. sellers £1 10b, buyers £1 9s; South Britisn, sellera £1 16s 3d, lawyers £l. 16s; Standard, sellera £2 13s, buvers £2 10e; N.Z. and River Plate. Fellers 16a 6d, buyers 16s 8d; Loan and Mercantile, sellers £B2, buyers £o0; Loon and Mercantile (preif.), sellers £62, buyers £66; Weetport Cosl. buyers £1 7s: Hud. dart-Parker (ord.), ©tellers £2 6s; P. and O. (deferred), sellers £B6O, buyers £315; Union Steam (pref.), sellers 19s 6d, buyers 28s Pd; Kainpoi Woollen (ord.), sellers £1 os W; Mosgisl Woollen, sellers £5 10s; Waihi. nellatß £1 2& Gd. bnv€Tis £1 19 3d j Waini Grand Junction, fttlWs 8s 3d, buyers 8s 9d; N.Z. War Loan, 1930, at 4J .par cent., buyers £56 IBs; N.Z. War Loan, 1933, at 4J per cent, sellers £B4, buyem £B3 12a 6d: *N.Z. War Loan, 1989, at 4J per cent, sellers £B4.

DUNEDIN STCOK EXCHANGE (special to "the pbess.")

DTTNEDIN, August 12. Quotations —Rise end Shine, buyers Is 6d; Weihi (10s paid), buyers 21s; Mount Lyell, buyers 14s 3d, sellers 143 8d; Bank of Ausbuyers 8s 6d; National ißanOi of New Ze&liind, buyers £5 10s Gd, sellers £5 14ts; Bank of New Zealand, buyers 48? Pd, spllers 495; Union Bank of Australia, Ltd., buyers £l2 3b 6d, sellers £l2 12s; National tara nee Co., buyers 80s ed, sellers Pis; N.Z. Insurance Co. (ex div.). buyers 295, sellers 29(i 6d; South British Inauranoe, buyers 36a, sellers 87s; Standard Insurance Co., buyers 60s 9d, sellers fiSs; P. and O. (dsf. stock trust), sellers £366; Union Steam Ship Co. (pref.), buyers 17s lOd, Huddart-Parknr (ord.), sellers B6s fld; Westport Coal Co., buyers 26s lid, sellers 2T» 6d; Westport Stockton (ord.), buyers 6s lid, sellers 7» Id; Westport Stockton (pref.), Kellers 10s 9d; National Mortgage, buyers 70a; N.Z. Loan and Mercantile, buyers £80; Dominion B/übbcr, buyero 15s, sellers 16s Gd; Donaghy Ropo and Twine, buyers 28s 6d; Empire Buildingq, sellers 20s; N.Z. Refrigerating fbontrib.), buyers 16s, sellers 16s 2d; Canterbury Co. (ord), buyers £ll, sellers £l2; Bruos Woollen Co., sellers 43a; Kaiapoi 'Woollen, (ord.), sellers £6; N.Z. Paper Mills, sellets 52s 9d: eellera 25s 6d; Kaiapoi Woollen (pref.), sellera 25a 3d; Mosglel Woollen Factory, N.Z. I)Tug Co.. (£2 paid), buyers 63a €d; Wilson's Portland Cement buywra 14s 9d; Milburn Lime and Cement, buyers 29b; Papuiin Produots, seliers Is !)d; Perpetual Trustees, buyers 84s 6a; Whitooro.be and Tombs, buyers ES»; Smith and Smith (pref.), seHsrs 17s 9i; N.Z. Government War Bonds, 1930, at 44 per oewt., buyera £B7 65,; ' N.Z. Government War Bonds, 19^8,,at. 4J per cent., buyers £B3 10s; N.Z. Government War Bonds, 1 1939, at 4J iper cent., buyers £6B' 10s; N.Z. Government Insoribed Stock (4J per cent.), buyers £B3 10s; Pott Office 5 per cent., 1927 Bonds, buyers £9l 10s; ' Post Office, ' 1027-Inscribed, buyers £9O, sellers £92 J Soldiers' Bonds, buyers £92 10s; Soldiera* Inscribed, buyers £93 2s 6d. ■ ' LOCAIJ. BODY LOANS'. (PRESS ASSOCIATION TELEGRAM.) WELLINGTON, August 11. ■An Order-in-Oouncil . which, ! ha® been gazetted prescribes 7 per cent. Ofl the maximum rate of interest to -be paid by the-Wel-lington City ■Council , in reelect ,of_ J.ne £750,000 to be borrowed beyond the Dommjon, being part of loans aggregating £1,708,916 authorised to be raised, for water street works, tramways, and general improvements. ... Six per cent. Is prescribed as the maximum in the: case. of ft loan of £IOO,OOO to by the Makerua . Drainage Board for'eiten:sive rock protections and-d-rainage works, and for a loan of £2OOO to be raised by the Rangiora borough for extensions, to,,the 'giia works ■and electno works; CJ per cent.^in the co*e of a, loan of £oooo by th 6 Springs-Ellesmere Electric Power Board for erecting, reticulation lines. . • , Cons-ant has been given to the raißing ol the following local'body loans at 5£ per oent; Lower Hutt Borough Council gas works £6400, West Harbour Borough Council renewal loans £14,180, Cambridge Electric Power Board construction of electric works £IO,OOO, Whangarei Borough Council erecting workers' dwellings £SOOO. CANTERBURY MARKETS. Friday Ewning. The holidays have not been cooiuoive to business. Farmers :havo been in town, hut their destination generally has not been merchants' offloee. Cable jeporto state that 60s per quarter is quoted for spot New Zealand oats, - but merchants here cannot secure that equivalent. No doubt the breaking of the drought dn England has ease 4 the future position. Whilst little business is losing locally, prices remain unaltered. Very few offers are being made by farmers, and northern oveteellers, who are operating breesuy in "futures," may find difficulty in filling. 'Kici© is undoubtedly a bag quantity of oats still in ctaok in Canterbury, but spring threshing as a rule has rarely been heavy' and it i» quit* probable that a good deal of the oats will be chaffed. Sinoe the reduction in freight Home to £8 8a per ton, about. 36,000 «ac 6» 'have been shlpued to England,' 6ut recently there has lwen a cessation- of export. Present quotations are 3s 7d, f.0.b,, s.i., equal to about 2a 9d ct country Stations, Seeds have «teadied. The recent demand took them to figures that stopped speculative business,' and although the matfket is firm there is not much doing beyond the seasonal orders. ' Potatoes, are a shade firmer, duo to the lessor quantities despatohtd recently north. The firmness is represented by enquiry rather than by any appreciation ,in values, which aro still from 80s to 85s at country stations. The Karma sailed this week from Timaru with a fair shipment, and the Kaiapoi and Opihi are due to leave early next wee*. The lower prioe has stimulated consumption, or.d I supplies are at present moderately Ught in Auckland. ~ * . , . ! The following ore quotations for produoe to be paid to farmers at country stations, free of commission, eacks extra, except where otherwise stated: — ~ _ • Wiilirg Wheat—Aooordin® to Government prices: Tuscan 7e 9d f.0.b.. Hunters €s, Pearl 8s Bd. Oats—A Gartons 2s 9d, B's 2s 6d; Algerians 2s to 2s Bd. Chaff—£3. ~ Perennial Ryegrass—Bs *6d te : 4s. Italian Ryegrass—3s 6d to 4b. Cowgrasß—lOd to Is. Cocksfoot—6d to 6Jd. Bailey—3s to 3a 6d, Cape barley 2s 6d. Potatoes (nominal)—3ss. Onions —£3 6s. Linseed —£14 to £ls 10s. White Clover—ls -to 1b 4d. Flour—According "to Government £2l per ton f.0.b.,; Lyttelton. Timaru,, and Oamaru. Bran —According to Government price, £6 to £6 lOs per ton, acoordlrig to jacßug, f.0.b., southern ports. Pollard—According to Government price, £9 to £9 10s, according to packing, f.0.b., southern ports. ■ TMAiRtr. (special to "the PBESS.") TIMARU, August 12. Autumn and winter-sown wheat is vvw showing up well all enrer the district, and it will greatly benefit by the soft warm rain of yesterday. Reports from the country districts indicate that the-fall averagsd about half an inch. There is nothing doing. in milling wheat Fowl wheat ia keenly sought after, and ell lines of seconds that are available are readily saleable at the - maximum price. Smutty lines are worth about 3d less, namely, ~7s la, f.0.b., sacks extra. • Reports from other centres indicate a steady market for oats, but the quantity here is negligible, and there E is praoticullv no .market. Gartons are quoted- nominally, at 2a 9d to 2s lOd on trucfc3, sacks' tatra. Chaff is dull of .sale. The value is about £3 53 on, trucks, but there is not much available, and growers are loath to accept this price. . „ • . Barley is still dull, and is nominally worth 3s 6d on truc&s, sacks extra. • The linseed market is steady, and sales as® beings macta for exj*>rt' on tn* hasi#. of £l6 10s vtr ton on- trucks, sacks extra. Tho demand for cowgrass is now confined to local requirements, outside buyers appearing to have secured all they want. The value is lid to Is 1-ipe.r lb. White clover ia dn the market.- Thero is a f?iriy Rood demand for lyegrstae, hut owing to tba gen©- ' * ■■ " ' " • ' ' '

ral uncertainty of things- in tie North Island the demand from that quarter is restricted.

Pens ore keenly sought after, but r.o Partridge peas are 'available, and they ato worth 7s to 8s per bushel on trucks for f.n.q. samples. Present indications are that good prioos will be available for this yoar's c:op. Blue peas, o£ which there is a moderate gupply in Smith Canterbury, have improved iu •vahv? from la 6d to Ga on trucks. Potatoes ore quiet, but steady, at- £2 to SI ss, country stations. Backs in, - and it is oonsiderel that nfter tiiia work's festival in CUristchitroh more interest will be displayed in the market. DUXEDIN. (SPECIAL TO "TIID TRESS.") DL'XEDIN, August -C. The oat market remains quiet, only en occasional lino being offered;- but as farmers are still firm holders practically no husinese is doing. Prime milling is worth A* to 3s U, and good to best feed 2s 9d to 5a lid (<x store, fucks extra). There is very little demand for potatoes end prices ate easier. Good tables are worth up to £3 10s, ex store, and for extra good tablee in fresh condition a li'.tlo mora is obtainable. Although arrivals of chaff during the meek ha.v® not boen heavy, the demand is correspondingly slack, and prices havo eased slightly. Prime oaten sheaf is worth "up to f,s 10a, and pood to best feed X 5 to £5 63 per ton (sacks extra). AUCKLAND PRODUCE MARKET. (By Telegraph.) AUCKLAND, August 32. Turner and Growers, Ltd., report to-day's auction prioes as follows: Potatoes—Whites, ex wharf, £4 10s, reds £3 16s; whites, ex store, £5 108, reds 6s per sack. Onions—Local Brown Spanish 12s to 1-4». Maize—New season's is badly heated., end wrth 4s a bushel, best Australian 6a Sd'. G

S s. d. £ i. d. 2J per cent. Imp. Con. 49 10 0 46 10 0 6 per cent. Imp. War > • Loan 8S 2 6 88 2 6 8J per cent. Imp. War Loan 66 10 0 SB 10 0 55 per cent. CVeilth ■Loan 98 12 6 • 99 0 0 SJ per cent. C'wealth Loan 95 19 6 '9o 10 0 New scrip, 10s discount. N.8.W. 4's, 1988, J*n.Julv 76 15 0 77 0 0 N.S.W. 8J's, 1935-50, . Jfvo.-Juily .. N.S.W. 3's, 1985, April63 12 6 63 13 6 October G9 0 0 63 C 0 N.S.W. 8J'a N.S.W. 6J'8 98 10 0 <16 10 0 102 10 0 102 35 0 Vic. 4's, 1921-6, Jan.July Vic. si'a, 1529-40, Jan.87 10 0 ?8 5 0 July Vic. 3 r a,. 1929-49, Jan.64 0 0 C4 10 0 July 56 15 0 57 0 0 Q'land 4'fl, 1924, Jan.July 90 0 0 90 0 0 Q'land 8J's, 1921-24, J an.-July .. Q'land 8's, 1922-47, J»n.89 0 0 89 0 0 J uly K.Z. 4's, 1929, May56 6 0 56 10 0 NovemJjer 85 12 6 85 19 0 K.Z. 8J'e, 1940, Jan.July N.Z. 8's, 1945, April70 0 0 70 0 0 Octotei 60 5 0 60 13 6 S.A. 8'a, 1980, Jan. July 63 0 0 53 10 0 S.A. Si'a, 1945 or after Tas. Si's, 1920-40, Jan.67 IS 0 68 3 6 July 68 15 0 68 17 6 Tag. 8's, 1920-40, Jan.July 63 0 0 63 0 0 W.A. 8J's, 1920-35, MayJuly W.A. 8's, 1915-85, May72 0 0 73 5 0 November 68 2 G 68 3 6

£ a. d. £ e. d. DEBENTURES— n.Z. Govt. 4) per cent Inscribed, 1938 83 12 6 — N.Z. Govt. 4} per cent. Bonds, 1938 83 12 6 — N.Z. Govt. 4J per cent. Inscribed, 1939 83 10 0 83 15 0 N.Z. Govt. 5 per cent. Inscribed, 1927 91 0 0 92 0 0 N.Z. Govt. 5 per cent. Bonds, 1930 — 90 10 0 N.Z. Govt. 6i per centf. Bonds, 1933 92 0 0 . — BANKS- _ 87 0 Australasia 0 — National of N.Z. .. 5 10 0 6 14 0 New South Wales 35 0 0 se o 0 New Zealand- .. 2 8 6 2 9 0 Union of Australia .. — 13 10 0 INSURANCE— > National 2 19 6 — New Zealand (ex div.) 1 9 0 1 9 6 South British 1 16 0 — LOAN AND AGENCY—. Dalgety and Co. 10 5 0 10 17 6 National Mortgage' 3 10 0 —' Perm anient Investment 9 0 .0 — SHIPPING— -Huddart-Parker . ~ .' — 2 e e FROZEN MEATCanterbnry — 11 7 8 .. N.Z. \ Refrigerating (£1 paid) .19 9 — N.Z. Refrigerating ' (10s paid) .. 0 16 0 — ' North Cant. Fleering.. • — 2 Ifr 0

C5AL— 1 6 West port .. •• 9 Westport-Slockton — 0 7 s WOOLLENS— Kalapoi (£1 paid, etna div.) — 1 5 6 GAS— Christchurch 5 6 0 — BREWERIES— 3 10 Manning .. S 8 0 0 MISCELLANEOUS— Heath and Co. .• 1 3 0 1 5 0 Cant. Farmers' Co-op 2 11 6 (Timarti) — Colonial Sugar — 27 0 0 N.Z. Drug 2 14 0 — \VTi it combo and ■Tombs 2 IB 0 — MINING— 0 14 Mt. LyeH — 9 Waihi 0 19 6