THE MONEY MARKET.

Evening Post, Volume LXXV, Issue 33, 8 February 1908, Page 4

THE MONEY MARKET.

Tho bank rate of discount for best three mouths' bills is unchanged at 4- per cent. The open market rate is, however, ten shillings lower at 3 1-16 per cent. COLONIAL AND OTHER PRODUCE. Wheat. — The markets are dull and weak owing to pressure to sell tho new crop of La Plata. There was a slight recovery on bth and 7th insts. owing to a better enquiry from the Continent. There ia \ no demand for Australian cogoes. South Australian new crop now loading i 3 offered at 38s 9d. Small supplies of Australian on the spot are held for 34s 6d. Flour.— The market is quiet. Australian Patent on spot is offered at 29s 6d. Sugar. — German Beet is Id higher at 10s ; first marks, guaranteed f.o.b. Hamburg, 2d higher at 11s 9d per cwt. Butter. — Tho market is excited. Danish is realising 134s to 1365. Tho sales of ,the Tongariro's butter commenced at 120s to 1225, and rapidly rose to 128s and 130s, at which prico it was cleared. Secondaries am making ru'actically the tamo price*. For choicest hoTilers aro asking 138s and 140s, for Australian ex Omran. There is no prospect of any reduction. The rise is chiefly due to a great shortage but many consider the Butter Act als» responsible by checking the sale of mixhires. Retailers are now charging 14d and 16d per lb for colonial. Cheese. — The market is dull. Now Zealand is quoted at 59s to 61b ; Canadian 63s to 64s Copra. — Market is weak. South Sea "is aelling at £17 2s 6d per ton with buyers offering £17. THE METAL MARKETS. Copper. — Spot, 7s 6d higher at £61 10s; three months', 7s 6d higher at £62 2s 6d; electrolytic £63 per ton. Tin.— Spot £5 15s higher at £130 ; thioo months' £5 5s higher at £130 10s per lon. Lead. — 6s 3d lower at £14 12s 6d per ton. Pig Iron.— ls 2d higher at 48« Bd per ton.

Wind.— -L, light ; br. Breeze ; i b, fre3h breeze; ni g, underate gale; g, whole or heavy gule, w, gale of exceptional seventy. Weather.— B, blue sky, be the atmospheie clear or heavy; C-, clouds, passing cluUda; D, diizzling rain; *, Joggy.; (i, gloomy, dark weathei ; H,-ha<l; L, lightning; M, miscy; O, overcast, the \vtto}e 6ky coveiej with Uu'ulc cloudk ; i', passing ehowers ; Q, squally , 11, lu.nl, continued rain; S, snow, '1, thunder; U» ugl}', ihieattuins acpearuuee. TIIE FUTUUE. At 9 a.m. the following forecast was issued for tho eubseQuent 24 hours:— Wind. — Eaotoily; modeii'to to etrong at all placta north of Easi Cape, lAiupo, and Kawhia; westerly, thence u> NVpicr; nurcherl.) stioiig tv gjle ajtcr fru'm 12 to lso houiiS olsewheic. JJ&iu-ietei. — Fall every wuen\ rfc.i. — Hej\y on, western coast [couth of New Ph mouth and 'on , rastern coast troin Cattlepoint southward ; moderate everywhere else. Tides.— High on week coast south of New Plymouth and on eastern coast south of Castlepoint ; model ate -11 other poits. Theie mo Indications of rain on the we-fc coast of the South Island, and also southward of Queensvown and Oumaii'. Warning signal for noitherly gale are exhibited at Qipes Foulwmd, Campbell, Farewell Spit, and Nugget Point. R. A. EDWIN.