COMMERCIAL &FINANCIAL.

Evening Post, Volume LIV, Issue 99, 23 October 1897, Page 2

COMMERCIAL &FINANCIAL.

« [PBESS ASSOCIATION.] London, 21st October. The Bank of England returris published to-day show the total reserve to be £21,156,000(^232,000 more than last week), the proportion of reserve to liabilities being 48 - 3p per cent. Three months' bills are discounted at 2£ per cent. — a rise of i per cent, since last week.

♦interest payable in May arid November, t lnterest payable in January and July. payable in April and October. The English wheat market is quiet but steady; the Continental ig steady; and the American is tending downwards. The American visible wheat supply is estimated at 28,584,000 bushels. Californian No. 1 milling, for early shipment, 28s 8d ; Russian cargoes (Ghirka), 35s 6d c.i.f . per 4921b ; new Duluth, 89s 6d. The Bradford wool market has a downward tendency. The sugar market is dull. German beet, 88deg, 83 6d per cwt. ; Java cane, No. 1, D.S., 10a 9dper owt. Pig iron, Glasgow warrants, No. 1, 44s 9d per ton j f.o.b. in Clyde, 45s lid. Silver is quoted at 2s 3jd per oz. NEW ZEALAND LOAN AND MERCANTILE AGENCY CO 'S REPORT. The New Zealand Loan afad Mercantile Agency Company, Limited, reports on the produoe markets for the week ending 22nd October as follows :—: — Wool. — The shearing is somewhat late this season, and so far none of the new clip is available. Advices from the country are, however, favourable, and we anticipate an exoellent out-turn. The wool Will, we think, be found light in condition and well grown, and in view of the favourable brospects reported from London should sell well. The Australian sales were also strong, and altogether the prospects of good prices being obtained at our local sales* w?iich open on the 19th prox., are favourable. We would strongly advise our friends to send their wool into auction in preference to selling privately, as they will then be sure of obtaining top market value. Buyers who go from station to station cannot be expected to pay so much as thdse who attend the saleroom only, and we are satisfied that best results will be obtained by those who sell under the hammer. Sheepskins.— Our next Bale will be held on the 29th inst., and we expect then to offer an exceptionally heavy catalogue. Already we have over 2000 skins in store, and by the date named we expect to offer buyers over 3000. As usual at this time of year the quality will be excellent, the majority being prime wellwoolled and of good felt. We anticipate very keen competition. Tallow. — The English market has advanced 3d per cwt since last report, but locally the demand is still slaok. Good mixed butcher's is worth from 13s to 13s 6d per cwt. Hides. — The outside demand continues very strong, and we have no difficulty in placing all coming forward at full rates. We quote — Prime ox, up to 4Jd ; medium, 4d ; good Cow, 3id ; medium, 2Jd up to 3id per lb. Oats. — These are still very firm in the South. The local demand during the week has been steady, and as stocks held are now light we expect to see better prices obtained before long. We quote— Prime Bhort feed, 2s 6d to 2a 7d, sacks in, ex store. Fowl Wheat. — Theie has been rather better demand since our last report, and several fair-sized lines have changed hands at an advance on prices lately ruling. We quote good whole at 3s lOd to 4s, sacks extra, ex store. Chaff. — Local stocks are almost entirely depleted, and we have numerous enquiries, which are difficult to fill at late rates. The visible supply in the South Island is limited, and we think buyers will have a difficulty in filling their requirements until the new crop is available. We quote prime heavy, 80s to 85s, sackß extra, ex store. Potatoes. — Market glutted. Good picked table Derwenta are quoted up to 60s, sacks in, ex store. Fungus. — Market strong. All coming forward finds ready sale at up to 3Jd per lb. Messrs. George Thomas & Co. report on wholesale produce prices as follows : — A quiet week's business has to be noted, without any notable changes in quotations for leading lines. Millers are firm in their demand of J2ll los f.o.b. Southern ports for flour, but so far the Wellington quotations do not exceed this value, owing to the number of forward orders booked at lower rates, the public being thns given the advantage. We quote : — Best roller flour, 200's, .£ll 10s; whole fowl wheat, 4s to 4s 2d; brah, £3 15a; pollard, £4; short sparrowbill oats, from 2s 5d to 2s 7d ; duns, 2s 8d to 2s 9d ; long Danish, 2s 7d ; oatmeal, £12 to .£l2 10s per ton ; oaten sheaf chaff, best, £4 10s ; fair, £4 5s per ton ; straw chaff, £2 15s to £B ; baled straw, £2 15s ; feed barley, 3s ; maize, 2a 7&d to 2s 9d ; pearl barley, 16s 6d ; split peas, 14s 6d ; blue peas, 4s lOd ; partridge do, 3s lOd. Old Derwent table potatoes vary much in value. Best Oamarns are worth «S3 to JB3 ss, Kaikdnras £2 15s, and Blenheims £2' 10a per ton. American onions are in excellent request at l}d to lsd per lb. The first shipments of new cheese are to hand, and have opened at 4J per lb. Cream separator butter, pound rolls, is in good demand at 9£d per lb ; dairy do, 6d to 7d ; pastry do, 4d to sd. Eggs sell readily at BJd to 9d per dozen. Factory-cute hams are boing strongly enquired for at 7\i to 8d ; bacon, from 6Jd per lb.

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Price. Variation as compared with last week. '■1% Imperial Consols t % New South "Wales li% New South "Wales I % New South Walea I % Victorian i\% Victorian I % South Australian SJ% South Aiistralian ! % South Australian I % Queensland l\% Queensland ... I % New Zealand* ... ij% New Zealandt ... J % New Zealandt ... Ik% "West Australian t % "West Australian H% Tasmania £ s. d. 11l 15 0 123 0 0 107 15 0 IQJ 5 0 113 0 0 107 15 0 5/- higher. Unchanged. 15/- lower. Unchanged. Unchanged. 5/- lower. 111 0 0 100 5 0 113 10 0 107 13 0 1H 15 0 109 0 0 102 10 0 106 0 0 Unchanged. 5/- higher. 15/- lower. 5/- lower. 5/- lower. 10/- lower. 5/- lower. Unchanged. 1110 0 0 Unchanged.