FINANCIAL AND COMMERCE.

Dominion, Volume 1, Issue 45, 16 November 1907, Page 8

FINANCIAL AND COMMERCE.

•?;-';f.; : 'V- ;■'.' THE SHAEE MABB3T."-..; : ; ; ■■,■.. ""■'':. Affair ambus't-of business -was transacted In investment ■ shares yesterday. Wellington ~o ; Gas-shares, had quittance :at , yielding r to.tho 6s. Bd. '■ -'tfer"',c6nt/ Sellers.,were, still willing ,to.accept ,r: ".£18. 1 /15s. for;'the'shares. For Feilding: ; Qas ; ; "''.■jhSres :there was of. 165.; but holders are ■V'- Bxft''lifcely to let-go at that price. ■ Napier, Gas ehares were offered at J625 and 10s. for the respective issues. Gear Meat shares, £1 paid-up, sold at 505., returning to the investor, a bare 4 per cent., but there is obviously something at the back of this high price. Wellington Meat Export, £2 12s. Gd. paid-up, were in demand at £3 6s. Wellington Woollen shares Bold at -jE3 65., yielding to the investor £l ss. 6d per cent., • and there were further sellers at, ./.•ihe,-price.- -Mosqiel, WooUens.'wero -wanted at '■j£3,U cum dividend.- Westport Coal shares, had at ,165., returning .£6 14s. 7s-per ; j" cen't.'-i'or, those shares there -were further bids «- ! a of 'if -'6s., but h'bjders were. wanting. jE7."l6s/- 6d. ■ 'Coal shares wero offered at ■ :; '95..6(D With,the"strike in Newcastlo' and. the 'Ij-prdspectjvo increased demand- in New Zea,:;iCMnd for locally mined coal; the'coal.companies j- • of '/the • Dominion -shonld experience ■ an-:excel : ' lent time. ■ Salesi'bf Leyland-O'Brien : Timbor shares were',made at : 47s., yielding to the ini, - Bs. per cent.- -liuyers trinade-furtherabids of JE2 6s. 9d., but splleJS NdWfZealand Paper Milk Jjikiigyat-£i M:'U./yielime to the linye.T on, ,s thl b'ana of -theAst: dividend- .£6 Is. 9d. ;pei ;; -« ! 'cerii'"" there were'fnrtber bids for ..these-shares ; " ; alt''23s.,>sellers' J Holding for 235; Gd.. For other : -saiirbs , ;' ,: the r -''bnjjHß offers were £9. TAe<- ;fprof New Zealand- Zβ. 6d. for' Equitable H'-BuUding, \£7t:9s.iv,for Wellington Loan, 275. 6dsncnm dividend for Natipnalr.lneurance, 9s. sd. for Kauri Timber las. paid- • • mp,-and 6s. for.-, Taranaki Petroleum.: flew ' 'Zealand Drag shares were offered at £2 12s .'--D.J.Ci-Ereference at.235., and Manawatu Kails V(rt ; 4sS. ; j. ; ; .^ ; ;,. ? ,.; .■-.,...-'■■ .... ..,,,. ~.-,:., ,

;;\-, THE MINING MAEKET. .-•' '' . New Zealand Crown shares and Tairua Broken Hills, camo in for most attention yes-. ;--terday; tho formor' changing hands at Bs. lUtt. -'.and Bs> lOld., and-tho latter at ss. Id.-and ss. ~-;~c2&, ''.-Tie position of-mining shares.is disclosed !,V ini.'.tbiflL following .table:— :.' ;, ■■.';.. ! ■'■' : 0t V,':'.''•/ : ',-■ ■--' ■ Bayers. Sellers.;. Sales., ■",''" .-"".'1 "■ ".,".','i >£ s.d.. £ s. .d.'-':*'e: d. ".':; Tairua Brokon.Hills ,0 50 . — ■ . 0 5 1 ' "'SJL ' Crowns """-.;.- ■■ t, . 818i -.jJilßi ■ Talismans sljow, ; a.- weakening tendency. ,' ; 5 . fi ';'.' ;;,l -,'V: hawera gas company*- •■-■;•: I, of the Hawera 'Gas .Com--; •nany for the year onded. September 30 last, "■shows that the net-profit for the year amounted 1- to JEBSO Is. fid:, and there was. brought forward "from the previous.year £320 12s. 6d., giving •:.an available total of .£ll7O Us., outvof which, ' a dividend at the'rate of Wper cent, for the ;: year hae been dficlarod,' absorbing £820, leaving : ' Js& Us. tobe carried forward. The net pro•fit for the'year is just about equal to the ■amount of' the dividend, and as far as can J. "bo seoa nothing- is being set aside as a^reserve .-' ; fund- and thorois an overdraft at tho_bankot 10s. 2d. The uncalled capital of as. per '•''-'sham.amounts ip It- ia stated.in the. v> directors' report'that provision has been-made "IoT depreciation arid renewals, and the. amount '•eo set aside may or may not bo adequate; at : '-the' same time it is obvious'tho dividend dis•'■'tribution is higher than is warranted by the •■Jearnihg capacity of tho Company. ■ ;^-tterd eleven years one'.would liko to see -a smaller r.- overdraft, and in'the nature of a ,- : :r.Te6erve.fund,-' ':,;-■ '.-..■ .-::■:■: tke' WOOL SALES. : ■■"' -"llucli as -was anticipated, the first of the ■ -ffool sales held in''"Wellington yesterday re-. ■i corded a decline in values ae compared with iithe corresponding sales of'-laet year.. italibred- wools maintained their values- to a fair :. extent, but'tho coarse woois, and this forms the bulk,of the clip in the Wellington-West ' Coast districts, were depressed, values boing ■'■ from ljd. to -'2d. : lower. Tho attendance of -■'■buyers .was up'to tho. average, and the cata■■..■'lbgTie'was a fair one, but there is a.: backward f--movement in < the > etaplo which is likely'to - Viomphasised rather than otherwise. Thore is "--'e- recession in indufltrial activity in Europe, " ; nnd'.indnfitriar prostration in the" United : States. Tho pace of progress has been far - 'tbc-rapid to %o' snetaincd; a halt has been =' called) and naturally there, is a eot-back in .' ' yalues." There nlust follow n readjustment of -."■bumnees affairs,. and that is when,.; the shoo ~ ■.'•.Trill, pinch. . Tho reports of tho variooB ; .wool, ]V. brokers,- which, appear page, willbe considerable interest .- ;. •'. ; .. MONEY PEDER oiriCE. .-■-.: The ■Wellington Monoy Order Office is* a ■. convenient placo in which to waste time. Yesterday wa« mail day, and naturally thcro was V a big press of business, nt least, thoro was in the In any, ordinary mercantile "establishment special arrangements would bo • 'made for meeting tho convenience of tho ■■public, but the Money Order Office is abovo ;<■: eny.'Snch considerations. Testorday, one clcr. /.■•■"■was left to strugglo with tho business, and oli thongh he- did Mb utmost, it was impossible 1 for hhn to deal with the business as quickly aa ■ ■ it ■ should be derflt with. Itfret thoro is . a ■':'' 'postal note, thena money order on sonio Ane- :; traiiari ■ town, another on a British city, por-•-'laps "another '-for- India, and ol varying amounts, necessitating constant reference to the commisiona boot. In a Government eetab'■i:' lishmont one expect , " the maximum of clerical ' work and rod tapo, and tho Monoy Order Office '••- -eon-forms to the rnlo. Tlio mcrp clerical work . absorbs a vast.: amount of tho time of tho clerks-. Yesterday may havo been an exeop- . .tional day, but two; eeparato occasione ', .-wheti. the writer; looked ; m thoro were from eight to ten peoplo crowding round tho conn-! : tcr. The business of tho financial section of ' .the .Post Office in' Wellington has grown tre- ■■ mendorisly, and it is time the Department saw . fit-to.provido adeqnato facilities for tho de- - enatch. of bnsinese.-On mail dnyn thoro should ■ bu .at lcnst two clerks in attendance at the monoy order counter. WELLINGTON PRODUCE MAEKBTS, , . The New Zealand .Fnrmore' Co-operative Dis-' tribnting Company,' Limited, roport asiollows: —Maize, ss. Cd..;'ivhoat, milling, Gs. 9d.; fowl, , 6s. lid. , Market very firm. Oats—Garten's A i.j'er'adeii'vis. Gil.;-firm: Oats, crushed, is. 9dJ per '"■"'b'iishcl'FhoTse ljohiis',crushed, 4s. 9d. per bushel; pollard, JE7 155.; bran, £6 155.; sucrO3iße,'2oo'S|

15s. 6d., 100's,-Bs. 6d.; prime oaten sheaf chaff, £7 15s. .Eising. ; — . • -:: ■'■'■■ . /Potatoes.—New, Zealand,;. ,£6,'-_ market oversupplied; . Canterbury up-to-'dates, : Lapatone, Kidneys; .■,-. Eldorado's,'. Circular' Heads,- £6 10s. Onions,"Jβ) per ton. ; '_; Butter, separator, 10d.; : milled,. BJd'! dairy pats,9d.-per lb. 'Eggs,' fresh'vls. Id: to la. 2d. por dozen, soareo. Bacon sides, Bd.; rolls, BJd.; hams, BJd. Honey, 60's, IJd:; beeswax, Is. 6d.; fungus, 4|d.; walnuts, sd.'-tq 6d. per lb. Porkers, 70'b to S(fs, 4Jd.; 90's to 100's, 4Jd.; heavy pigs, 3JdJ per lb. " Cabbage, 4s. to 5b.; cauliflower, Us. per sack; green jieas, 9d. to Is. 3d. per. peck j asparagus, 65.; rhubarb, 6s. per dozen,-.carrots, table, red, ss. 6d. per sack;.carrots,.horse,. £t 155.; swedes, ,£3 ]Qs.per : ton; .parsnips, ■ 3s. per sack. . Apples, dessert, -14s. 6d7; apples, cookers, 10s.; oranges, Sydney, 125.; pines, 165.; mandarines, 12s. 6d.;'.passion, fruit,. 19s. 6d.; bananas, 17s. All in short-supply.' ' .' . .'. ' " •■ - Cocksfoot,' 7d." to Bd. per lb.; rye grass, 6s. 6d. por. bushel;.. v -. ..;,- ; .'.,,v "-'-"-- . Poultry—Table -roosters,- ss. '6d.; cockerels, '6s.' 6d..; table .hens, 45.; ducks; 65.;. ducklings, 7s. 6d..';"'geeso,; 7s. 6d.; all at.per: pair. Turkey gobblers, 9d,; :turkey. hens,-Bd. per lb., live 'weight.' -Dressed poultry—Roosters, Bd.; hens, 'sid.; turkey gobblers, 9d.-;-turkey hens, Bd. per lb. ' '■■■ -.. .' ■

:: "WELLINGTON'WOOL SALES.. '.. '' ■ Dalgety'and■"•'Company report!having Held .their.first■.ovopr'sald: of."the season , in the Concert 1 -fiobm of the Town Hall, yesterday. The total offering by all brokers was 1700 bales, ito which,',tt(!. firm contributed 641 bales. The total number of bales offered would have been considerably,, .larger- but for the bad. weather whicfi has prevailed during tho past few weeks. There was a representative attendance of English,'foreign, and local buyers. Tho sale was by no means an.animated.one, and,a fair proportion of all catalogues was-passed in under the hammer, owing to tho difference in margin betweon ideas of, buyers aiid sellers. Prices offered by .buyers were on a par* with the latest advices from London. Crossbred wools of all descriptions showed a decline of ljd. to 2d.' per lb., as compared with tho corresponding sale of last season; half-bred wools wore very much on a par' with last November .rates for best quality, -,bnt inferior- half-bred showed, a.distinct drop. .Wβ, give below ap,piorimate values realised, and, for the sake of comparison,,'values qbetaihed for the corresponding 1 -salo ■ of last 1 year :— :; ' ■'■■ ■■ '■"■• ■'■" ■ . ■■-' 'Nov.,-1906. Nov., 1907: •■""■ ";" ■'•:'■• d. d. d. d.. Super half-bred ~ ... 11 to 112 ■ 11 tolli Medium half-bred ._ ._ lOJtolO] 10 to 10} . Inferior .10 91 to' H Super crossbred: ... ... ... 10J to 11} 3\ to 10 Alediunn crossbred, _. ...:, ~91 to 101 Bsto9J Inferior crossbred 9. to 91 7to 8j .Bellies and pieces .„"...' 6Jto 7} 6to 8J. 1 Stained ..pieces .'and locks 4Jto 61 3to i Dead ' .;.■...'... ...... iTJ-to BJ. 53 to 71 Crutchings .:.'.:. ;.. ... . i} to 6 4£ to 6 The New Zealand Loan-and Mercantile Agency Co. report:—The Associated Brokers held their opening series of sales for the season in tho Concert Eoom of ..'the-Wellington Town Hall, yesterday, when they submitted catalogues totalling about 1650' bales, of which we offered 450 bales. There was a good attendance of buyers for Home and Continental account. The bidding was active up to certain limits of price for crossbred'Heeco. We estimate that these limits-were 'from Id. to lid. below last season's opening rates. The Colonial woollen- mills were only, small purchasers, bat the fqllmongers' gave good prices for all locks, bellies, and pieces: Aβ compared with' last, season tho wool to hand is rather lightor iii grease, and the general.tendency in tho clips is towards a finer staple. Our range of prices, compared with Inst Novomber sale, was :—

-' ■-.:• •. : -1907. ." 1906. -.'■'.■.■'■. :: ; - v. ■■:'.■ .:d.--.;d. 'd. d. Half-bred .... ... 10 tolli lOitoUj Downs .:.... :.. . : 7\Z" 10 .10J Super crossbred ... ... ...' 9J to 93 lOJtolOj Medium crossbred ... .... ffyto S{ 9jtolO Inferior and strong crossbred i\.to S\ '9Jto 9! Locks, bellies, and; pieces•— 3Jto 7j 'ijto 7;

Murray; Eoberts, 'and Co'/rTcport :—Tho firet sale of tho season was-held yesterday, when in all cataloges:: comprising'..-,ab6ut 1700 bales were offered. The; wool was-mostly in soun'd condition, .well' grown, .but,., on 'the whole, heavier in the "grease than at .tho corresponding salo last.year. There.Vaa'a rather larger muster of buyers thau ieimufll , at the early, sale, but, as .was , .expected-, prices show a con- ,, siderable':shriiikage ;: Jis'; compared with last season,; for;-which- most -growers'are :not yet prepared," and maiiy lots were withdrawn. "On .tho average, prices maybe quoted about l}d. to ljd. for crossbred, and Jd. "for httlf-breds, lowor.,.than tho "opening.; sale-last November. There;. shown, but several clean lots-of Kpmney and medium cros<)bred'wer'6l catalog Tied, "buyers' top limit for theao boingabout 91d;'t&'. JJd;; as compared wjfh lid. to -llidi'- last season. The range of .prices .current yesterday-'ivas'as. follows:—

'■ .• .... ■•-..■' -.....'.'; -.:.;.:.; : d. ■ a. Half-bred, medium,to good.;. U to Hi per lb Half-bred, fair.;'condition,' , ..; 10i to 10J „ Crossbred and Bomnoy, bright ' iicht •■...'•.... ..,:::..,..;,':mto'9j „ ■ Crossbred, medinm condition ''.'B}to 9 „ Crossbred, inferior and wnsty 8 to 81 „ Pieces,. pood ; ......'. . Gi to 7+ „ Pieces, medium and wasty ... 4$ to 5* Locks ,/.'.. .;..'..: / ■„.. 2 to 3} „ Meßsre. Abraham "arid Williams', Ltd., report on their- first wpol Bale_ of tho season, as follows:—-Tho total tittering comprised about 1500 balee,jand;ther?;Ti-ap:,.a',gbod attendance of biiyqrs. ■■ Our-cntaloguo wnft small, owing to tho latßncsfli:pf; , was slow from tho start, and a-yory email-proportion of th.' wool' offered waflabld. Owners have not yet roalised that wool has focodod in ralne. and ttte renervea placed upon tho.'wool precluded m'nch busincsn hoinß done. Tho difference in value now,'and this time lastyear is fully Id. to l§d. lower. We passed in ordinary medium crossbred wools at BJd. to Od.i ond good clean Komnoy at 9J<l. to Ojd. ''..,'.• ■ Tho Walrarapa Farmers' "Co-oporatlvo Association, Ltd., apd tho United Farmore' Cooßgwtivo Association, Ltd.., report an followes —Tho W 'flaln of tho sonnon was held at th'o Town. Hall yesterday. There was a' good attendance of biiyprs. Medinm crossbred and Roinncy, of winch tho bulk of tho wool offorrd cpnnleted, wus in demand at lid. nor lb.lowor than prices realised at commponding ealo last year. Wo quoto as follows:— Ifnlf-bred .»»..;. ... ~,.:,■.,,:, U to 11J Mcdnim crossbred and Itomnoy, '"• bright and clean ~, ,„ „, ~, 0 to 9,1 Medinm croßsbral end Roinnoy, ' slightly dingy- ~. , ~, 8 to I) O>ar6o crossbred, clean • ■-~,, '...,'■■ B}to !) Crossbred, dfngy and logstained ~.• Oito il" Pieces ,» ~, ~. ... '~,';., ~. ~, 8} to 4 Uivke W'i'< mi •« mi u< u, „, B}tQ i

FEUDING STOCK AND PRODUCE SALE, ■ jtcssts. A: H; Atkinson and Company, liioiitod, report as follow on their sale at Feilding yesterday i— '■ ■ We d uoto ;—Eigs.—Weancrs, 10s: to 133: 6d.; stitss, lie- io Ills ' small.slores, 17e-i gdod stores, 235. to 30& Poultry;—llenS, Is. 3d; to 2b. 7d.j roosters, Is. Vd; to 3s: Id.) ducks, 2s: to 2s: sd. (till at each): Produce:—Pip potatoes, 3s: 9d.j seed, 55.; table, IDs: io 135.; rhubarb, Cd. por bundle. The Now Zealand I*oan anil Mercantile Agency Company , , Limltedj report i—At FoildIng on Friday we bad d modorote entry of both sheep and ciitud: Sheep , sold irifll; and a ffdod demand existed for Cattle, young sorts Belling particularly tfdl; ShcqtHShoril ewes made -i2s< 2d.| inferior ewes with lambs, 17s. 6(1.) forward woolly owes. lGs: 9iJ: W oullhoggots, 13& Cdi Gattle—Mixed rearlings tpoor), 21b. Ou. to. dOs.j two-yeor iioiferß, £2 Tμ.} storo cows, 30s. to Jiß.j forward eowa, .£2 ssi to siia Bb.j cows and caWes, £$ 125.) fat cows ( '£& ia. to eßi IDs. I two-year Steers, £3 lie: GRAIN AND PEODUOfI. (dT IBtEOEATJI—SrEOUJj COIUIEDrONDEHIS.) , CnnisTCHvnon, SfoTembor ISj llorchante and millore aro now pursuing a Waiting policy, and though thoro is somo wheat offoring, tboy aro not iinxLous to mako purohaeos. A small lot or about COO bushels has boon nnrcliaflod at ss. Cd. at a country station, and that is tho outside nfios that could now bo obtained. Whether prices will recover in tho near futuro will dopond ■upon the Australian markets, tho sudden collnpso of which hardly seems warranted in viow of the general shortage of wheat, and tho failuro of tho Commonwealth crops. Oats are scarce and firm in prico and oatshcaf is-still worth up to JE6 'ss. • Potatoes rbavo become very dull of salo, and tho quotations havo been furthor reduced, but even ut the figures, given, £$ to £i 10s. at country stations, it is doubtful if buyers will do business.

. DBEDGING. V : (fly TZLEOUAPn—PBESS ASSOCIATION.) Dunedik, November 15. Dredging returns :—Mystery Flat, 550z. Bdwt. j Chicago, . i7oz. 4dwt.; Manuherikia, d7oz.; Koputai, isoz. lOdwt. ; Hessey, 250z. 2dwt. 18gr. i Kura, 240z. 12dwt.; Wajtaia, 220z. ldwt.; Masterton, 18oz. lOdwt.; Hartley and Kiley, 18oz.; Charlton Creek. 170z.; Switzers, 15oz. ldwt.; Garden Gully, 6oz. 3dwt. . WAIHI MINE. ' : ' ANOTHER RECORD. ' ■ : (BT TELEGEArn— PRESS ASSOCIATION.) Auckland, November 15. During the four weeks ending November 2, the VVaihi G.M. Comapny crushed and treated 28,808 tons of ore for a'retnrn of bullion valued at ,£67,100. This constitutes a new record, exceeding the output of any previous four weekly periods in the history of tho mine. Tho return for the month onding October 5 last, which was a record to that date, was .£66,500 from 28.W6 tons. Tho total amount won from tho mine to date is and of this the sum of .£2,752,fiW has been reimbursed to shareholders, in tho shape of dividends, etc., up to September 2 last. The dividend of 3s. 6d. per share, payablo on Decomber 2 noxt, will increase tho amount of dividend ,£86,783, making the total of the same to tho dato named ,£2,839,432. Waim, November 15. ' An important. development has just taken placo on tho Edward lode in the Waihi mino, at the lowest level. This particular rerf, in ..tho upper level, was 10ft. in width, but in the present level has widened- out to 28ft. of high : grade ore.

POSITION AND PROSPECTS OF MOUNT ■-.■... LYELLY ' . " BX TBLEGKAPn— PEESS ASSOCIATION—COFYJfIGHT. '"•■'■■ . ' Melbourne, Novembor 15. . The Mount Lyell smelting returns from October 16 to November 1G (inclusive) show 31,158 tons treated, also 1077 tons of purchased ore, produced G6l tons of blister copper, containing 653 tons of copper, 46,972 ounces of silver, and 1573 ounces of gold. • The annual' meeting of the Company showed that the net profits for the last half-year totalled .£128,728. The liquid nesets, after providing for all liabilities other than current debentures, show a surplus of £492,657.' Altogether, taking the quantity and quality of the ore reserves, tho mines hare never appeared to -bettor advantage ;than at present.' • - BANK OP ENGLAND RETTJKNS;. ■ (Reo.- 12.50 a.m.) London, November 15. The Bank of England return, issued for the week ending Wednesday, November 13, is as under:—. ' ■ ' ■ KsBE Department. Note Issue £49,014,000 Gov. debt £11,015.000 .--.•■ Other socuri- ' ties ■:... 7.434.000 . Gold ... 30.505,000 £49,044,000 £49,014,000 Baudnq Depabtment. Proprietors'. • ' ' Govt. aecurlcapital £14,553,000 tiea ... £14,332,000 Public de- ■ Ofcber securipoßita ..: -6063.000 tics ... 34,518,000 . Othor de- Notes ._ 19,811.000 posits ... 45,087,000 Coin.™ „ 1,302,000 Best, 7-day . . and othor ■ bills ... 3.360,000 , £69,963.000 £69,063,000 The' leading items of the Bank of England return afford the. following comparison:— This week. Last week. Last year. . £ £ £ Bullion ... ... 30.595.000 27,4M,C00 28.142,000 KosorVO 21.113.0J0 17,096.000 tO.ltai.LU) Note circulation 29.233.000 , 29.480.000 28,23>,000 Public Deposits 6.903.000 G,7f6,CCO 9,316,000 Othor Deposits 43.037.00J 43.440.00J 40,357,000 Proportion ■ reserve to ' .'. liabilities *. ■ 40.53 35.20 40.26 GOVERNMENT SECURITIES. Tho following are the latest quotations for Government securities with a comparison of those ruling last week: — Variations ' ■■.._.■ pri( . o compared ' \ last week. ' ■ ~ £ b. d. I I\% Imperial Consols 82 0 0 10s. higher 4 ~N.S.W. 1903 Jan.July ... 105 0 0 20s. lower Si,,N.S.W.I9IBMar-Sopt ... 9515 0 30s. lower 3 „ N.S.W. 1935 Apl.-Oct. ... 84 0 0 20s. lower < „ Vic. 1920 Jan.July 10110 0 10s. lower Si „ Vic. 1931-6 Jan.July _. 97 0 0 10s. lower 5 „ Vic. 1929-49 Jan.July ... 3610 0 10e. lowor 3i „ S.A. 1916 Jan.July ... 98 0 0 10s. lowor 3 ~S.A. 1916 Jan.July ... 85 0 0 Unchaneed 4 „ Q'rd»2lr3O.Jan.July ... 104 0 0 20s. lowor 34 „ QTdl92l-30Jan.July ... 97 10 0 10s. lower 3-i,QTd 1922-47 Jan. July ... 84 0 0 15s. lower 4 .. H.Z. 1920 May-Nov. ... 10110 0 15s. lowor .31 ~N.Z. 1940 Jan.July ... 99 0 0 20s. lower 3-,. N.Z. 1040Jan:Jnly ... 84 30 0 10s. lower 3| „ W.A.192fr35Ma7-Nov •... 05 0 0 10s. lower 3 „ W.A. 1916-35May-Nov ... 83 0 0 TJnchanKed 3i,, Tae. 1920-40 Jan. July ... 98 0 0 . UnchnnCoa 3.. Ta5.1920-iOJan.Jnly. .. 88 0 0 Unchanged THE MONET MAEKET. . The bank rate of discount is unchanged at 7 per corvt. ■ The open market rate for best three months' bills is w£6' 13s. 9d. per cent., an increase of 3s. 9d. per cent, on the rate ruling last week. COLONIAL AND OTHER PRODUCE. Wheat—Tho markets havo recovered about la..owing to further bad reports of tho Indian crop, and cold wet weather in tho Argentine Cargoes are neglected, with few Australians offering; 435. Gd. asked for Victorian September shipment. The American visible supply of wheat is estimated at 62,389,000 bushels. ■' Flour.—Australian offering at Glasgow at 30s. with no buyers. Butter.—Danish, 1235. to 124 a.; choicest Victorian, 116s. to 118s. i Now South Wales, 115s. to 116s. Prices aro tending in bnyors' favour. Australian is clearing fairly well. ; Sugar.—Gorman beet, 88 dog., unchanged at Os. id.; first mark (translated f .o.b. Hamburg, Id. lower at Hβ. Id. per cwt. Bradford Tops.—The market Iβ vory quint. Common 60' a, Jd. lowor at 27Jd.; supor. 60's, Jd. lower at 28d. por lb. THE METAL MARKETS, Copper.—Spot, 20s. lowor at JCS9 per toni electrolytic, Mi. Tln.-S.pot, 25e, higher fit ,£137 J three months', 255. liighor at ,£l3B 15s. per ton, Pig-iron, lii. 7d. higher at Bis. id. per ton. Silver, 2s. 2 l-10d. por ounce. TALLOW, The Now Zoaland Loan and Mercantile Ajtoncy Co., Ltd., havo roceived tho following oableiram from London, datod November 13V- We quote present spot valnos for the following description of tallow: Fine mutton, 335. od. i good beef, 31s. 6d.; mixed, Sla. per .Mutton market inactive. , '-

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