COMMERCIAL AND FINANCIAL

Evening Post, Volume LXXVII, Issue 108, 8 May 1909, Page 4

COMMERCIAL AND FINANCIAL

BANK OF ENGLAND RETURN. Bjf Telegraph.— Piesi Asaooiatior..- Copy right. LONDON, 7th May. Tho Bank of England return issued for the week ending Wednesday, slli May, is as under : — ISSUE DnPARTMBNT. Note issue £55,051,000 Gov. debt £11,015,000 OtUersccnri- „ ties ... 7,434,000 Gold ... 36,802,000 £55,351,000 £0i,351,000 Banking Department. Pr'priet'rs' Gov. seeuricopital £14,553,000 ties ... £15,360,000 Public de- Other' seposits ... 11,935,000 aunties... 30,518^)00 Otber de- Notea ... 2036 080 posits ... 43.934..000 Coin ... 1,559,000 Best, 7-day and other bills ... 3,151,000 ±73,573,000 £73,573,000 The leading items of the Bank of England return afford the following comparison:— This week. Last week. Last year.

GOVERNMENT SECURITIES. The following are the latest quotations for Government securities, with a comparison of those ruling last week:

* Ihterett paj able m May and November., t Interest payable iv Jauuary aud July. jluterebD payable in April and October.

THE MONEY MARKET. The Bank of England discount rate is 2£ per cent., to which it was reduced on Ist April. _ The open market discount rates for three months bills are : — In London, 1£ per cent. ; in Paris, 14 per cent. ; in Berlin, 2 1-16 per cent. Short loans m London are unchanged at £ per cent. COLONIAL AND OTHER PRODUCE. Wheat — The markets are very firm, and cargoes are strongly held. One cargo sold at 43s lOjd, two others at 43s 9d ; on passage parcels per steamer, 43s 6d and 44s 10|d, according to position of approaching vessels ; South Australian parcels, arrived, at 445, at 44s 6d c.i.f. ; Australian on spot is very scarce, and is quoted at 46s 6d to 47b per quarter of eight bushels. Flour is in good demand. The London quotation is 35s 6d, and the Glasgow 3 4 s Holders are asking a. shilling 1 advance over last week for March-April shipment. Butter is slightly firmer. Danish, 107s to 109s ; choicest Australian, 965, unsalted 98s ; New Zealand, 100s to 102s. There is better enquiry for secondaries ; Australian, 88s to 90s; New Zealand, 94s to 965. Sugar. — German beet, 88deg, unchanged ao 10s 3d; first mark granulated, f.o.b. Hamburg, 2d lower at 12s Id per cwt. THE METAL MARKETS. Copper— Spot, 27s 6d higher at £58 15s ; three months, 17s 6d higher ; electrolytic, 5s higher at £59 5s per ton. Tin— Spot, 5s lower at £132; three months, 12s 6d lower at £132 17s 6d per ton. Lead, 2s 6d lower at £13 5s per ton. Pigiron, 3d higher at 48s Id per ton. Spelter, £21 15s per ton. WHEAT IN DUNEDIN. [By Telegraph.— Special to The Post.] DUNEDIN, This Day. The drop in the price of wheat that has taken place in the Homo and American markets for a time, had an easing influence here, and kept buyers from oporating ; but the market has recovered, and the prices now being obtained are equal to the highest ruling at the beginning of the season. Present indications point to a further advance, there being a keen demand from Northern ports. Wheat is being sold readily at 4s 4d f.o.b. ; for Home shipment 4s 6d f.o.b. is being obtained. . CHRISTCHURCH GRAIN MARKET. [bt temgsafs.— fbzsb assooiation.} CHRISTCHURCH, -7th May. The recovery in the wheat market in America and London nas encouraged local exporters to again operate, and there is, therefore, a fairly keen demand. Prices have firmed, and 4s at country stations is now offered A fair quantity has changed hands during the last few days, and, between merchants, there has been a considerable turnover. Amongst sales that have taken place lately were 2750 bushels of Hunter's at 3s lid, 10,200 bushels of Tuscan, and 2000 bushels of Hunter's at 4s, at country stations. Business in oats is restricted owing to there being no further shipping space available this month. Otherwise, there would be demand for export at present prices. In the meantime, there is very little doing. There has been a sharp rise in potatoes, as growers declined to sell at 40s, and were pitting their crops instead In order to fill orders for the North Island and Wost Coast, merchants have had to increase their limit, and 45s to 50s is now being paid at country stations. DUNEDIN STOCK EXCHANGE. DUNEDIN, 7th May. Slock Exchange tales: — Hartley and Riley, £1 Is, £1 Is 9d ; Waihi Grand Junction, £2 2s 6d. Sales reported — Waihi Grand Junction, £2 2s 9d- Waihi Extended, 5s 10d, 6s 2d. WOOL AND SKINS. The Wellington wool, skin, and hide sales woro held yesterday. There was a good attendance of buyers, and competition was keen for the best lots. The prices ranged as follows: — AVool. — Prices in grower's favour. Crossbred fluece, 5d to 7^d ; lambs, 7d to B^d ; medium lambs, s£d to 6£d ; pieces and bellies, 2d to 4d ; looks, l£d to 2ijd ; crutchings, 2^d to 4Ad. Skins.— Fino crossbreds, 6d to 7d; crossbreds, 5d to 6|d ; dead skins, 3d to sd ; black, 4d; dead hoggots, 3d to 4£d; pelts, 2d to 4d ; crossbred, salted, 3s to 4s 7d ; groun pelts, 2s 6d to 3s 9d ; lamb skins, 2s 6d to 4s; lamb pelts, Is to 2s 6d. Hides. — Calfskins in large demand ; ox and cow hides firm at last sale's prices. Ox hides (heavy), 6jjd to 7{d ; ox hides (medium), 6d to 7d ; ox hides (light), 5d to 6d ; cow hides, 5d to 53d ; out and slippy hides, 2d to sd; dry hide 3, 4£d to 4sd ; stag hidos, 2£d to 4|d ; bull hides, 2d to 4jd; calf, best, 74d to B|d; calf (medium), 5d to 6§d ; caff (inferior), 3^d to ssd ; yearling:, 4d to s|d ; horse hide, 7s 9d each ; calf cut and slippy, 3d to sd. Tallow. — Firm. Parcels in shipping order, £24; tins, £18 to £20 10s; rough fat, £10 to £15. Horsehair. — Is to Is 4d per 10. Horns. — 5s to 16s per hundred. Oowtails.— ls 3d to Is 6d per dozen. The brokers weio Dpljroty and Co., Levin and Co., Murray, Roberts and Co., New Zealand Loan and Meicanlile Co., and Abraham and Williams.

Bullion ... 36,902,000 Reserve... 27,095,000 Note cir'u 29,217.000 Deposits 55,81)9,000 Proportion reserve to liabilities 49.55 £ £ 37.953,000 35,932.000 28,955,000 27,195,000 28,9-76,000 28,725,000 57,487,000 53,383,000 50.31 50.92

Price. Variations compared with lust Treok. 2\% Imperinl Consols 4, % Hew South Wales ... JA% New South Wales ... S%. Kew South "Wales ... •i % Victorian 3A% Victorian •J % Victorian 3^% South Australian ... li % South Australian 4 % Queensland Si% yueenslaud 3 % yueeii&laud i % iNetv Zealand* yi.% New Zealtiudf a % New Zeainudj '■**% Westraliau 3 5b WestriUian "*i/b 'i'oainauiun .., v X> 'i-'usinauiau . . £ s. d. 85 6 3 10S 0 0 99 0 0 88 5 0 104 0 0 U9 10 0 87 12 6 9U 1(1 0 85 10 0 105 10 0 93 0 0 87 0 0 10U 0 0 DO 10 0 87 10 0 03 5 0 b7 10 U as io o 8S 0 0 6/3 liigbcr Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged 7/6 higher Unchanged Uuchonged Unchanged Uuuliuugctf 5/- higher Unchanged 10/- higher Unohiingeil