MINING NEWS

Dominion, Volume 11, Issue 99, 19 January 1918, Page 10

MINING NEWS

WELLINGTON SHARE MARKET. There was only one quotation reeorde in tlic mining market yesterday, as uu der:— Buyers. Relleri £ b. n. £ s. (! Blackwater 0 11.0 — Customs duties collected at, the port o Wellington yesterday amounted to £602 os. lOd.

BANK OF KNGJ.AND KETUHN. Australian-New Zealand Cable Association. (Kcc. January IS-19, midnight.) London, January 17. The Hank of England return issued for (ho week ended Wednesday, January 16, is as under:— Issue Depabtmknt. Kote Issue £76,075,000' Gov. debt... £11,015,000 Other securities 7.431,000 Gold 57,626,003 i'7ti,075.000 X 76.075.000 Banking Dkpahthent. Proprietors' Gov.securicapital ...£W,553,000 ties ... X56.768.C00 Public de- Other sccnrijiosits ... 41,416,000 ties 02.275.000 Other deposits *... 121.559.000 Notes 30,750.000 Best. 7-clny and other bills ... 3.351.000 Coin 1.143,000 £150,G39,000 i1E0,333.003 The leading items of the Bank of England return afford the following comparison This week Last week Lustyear Bullion 57.620,000 57.809.000 5(7729.000 Reserve ... 31.693.000 31.62(5,000 35.734.000 Note Circulation 45,325,000 45.703,000 35,532.C03 Public Deposits 41.416,000 37.559.000 51.325.000 Other Deposits 121.569.000 123,534,000 137,049.000 Proportion of reserves to liabilities 19.56 19.71 18.90 , GOVEEMIENf SECURITIES. The following are the latest quotations for Consols and Colonial Government, Securities in comparison with those ruling last week :— qi-.v This Last Stook Week Week 21% Imperial Consols | s j, % ~* d g v " ,W ar T I/oa ' u 93 I' 2 6 i>3 15 0 J' " v s'iv < t 1 SI) 15 066'2 6 4 ~J* .-b.W .1903 Jflii'Juli 9*2 no R1 t ™ 5 o 105 o o 3i,, Is.S.W. Larly Curr. 70 o u fi<) is n 3 Apl,pct 7 oiO OTO O 8 4 „ Vic. 1920 Jan.-July % 5 a oq, 0 0 3j„ Vic. 1921-6 Jan.-July U5 0 0 bj in n 03 „ Vic. 1520-1949 70 2 6 70 0 0 3 „ Vic. 1929-49 Jan.-Jly 5 0 62 0 0 oj „ S.A. 1916 Jan.-July .7115 0 7110 0 3 „ S.A. 1916 Jan.-July 56 10 0 56 10 n 4 „QTd 1915-24 Jan.-Jly 9t 0 0 50 0 0 . 3i„QTdl922-47 Jan.-Jly SS 15 0 S7 10 0 3 „ Q'l'd 1922-47 Jan.-Jlj 61 5 0 61 0 0 A „ N.Z. 1929 May-Nov. 85 15 0 65 10 0 3J „ N.Z. 1912-40 Jan.-Jly 7'2 '2 6 72 0 0 3 „ N.Z. 1920 April-Oct. 63 7 6 63 5 0 35 „ W.A. 1915-35 Jly-Nv 71 2 6 73 12 6 3 „ W.A. 1915-35 Jly-Nov 69 0 0 69 5 0 3i „ Tas. 1920 Jan-July 71 5 0 71 10 0 3 „ Tas 1920-40 Jun.-Julj 64 0 0 64 0 0 MONEY MARKET' The Bank of England discount rate was on January 2. 1914, reduced from 5 to 4J per cent., on January 22 it was reduced to 4 per cent., and on January 23 to 3 per cent. On July 30 the rate waa ra'sed to 4 per cent., on July 31 it was raised to 8 per cent., and 011 August 1 it was further advanced to 10 per cent. On .August 6 til? rate was reduced to 6 per cent., on August 7 it ivas further reduced to 5 per cent., on July 13, 1916, it was raised to 6 per cent., on January 12, 1917. it was reduced to 5J per cent,, and on April 5 it was further reduced to 5 per cent. OPEN MARKET RATES. The open market discount rate for three months' bills is 4 per cent., as compared with 4 por cent, last week, and 5 1-16 per cem. laat year. Short loans are quoted at 4a per cent., as against 3fi : pcr cent, last week, and 41 per cent, last year. COLONIAL AND OTHER PRODUCE. Butter.—There -was not butter or margarine distribution this wheat.. Wheat—No cargoes and parcels aro offering, and little is offered on the spot. Flour.—Firm; none from overseas offering. Oats, Peas and Beans—ln Bliort supply at full rates. Sugar—Unchanged. HOW TO SUBSOIL FOUR FEET DEEP. Imagine tho vast store of plant foods that would b» released if (ho soil four feet deep was broken and made available for the roots! You can subsoil to this depth easily with Giant Farm Powder. Infinitely better than the plough, which only turns over the same old impoverished surface soil year after year. Wonderful crops result when Giaut Farm Powder is used—profits increase. Act now! Get particulars from the Giant Farm Powder Co., c.o. Golli.n and Co. Pty„ Ltd,. Wellington; or Goldingham and Beckett, Ltd., Palmerston North, distributing agents for Wellington, Wairarapa, and Taranaki.—Advt.