COMMERCIAL AND FINANCIAL.

Evening Post, Volume LXXVIII, Issue 9, 10 July 1909, Page 4

COMMERCIAL AND FINANCIAL.

BANK OF ENGLAND RETURN. By Telegraph.— Press Association.— Copyright. LONDON, 9th July. Tho Bank of England return issued for the week ending Wednesday, 7th July, is as under: —

The leading items of the Bank of England return afford the following comparison: —

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

♦ Inteiebt payable in Alay uud JMotember. tlnierest payable in Juuuury anil July, j interest vayaAde in April aud October. THE MONEY MARKET. Tho Bank of England discount rate is 2i per cent., to which it was reduced on Ist April. Short loans are quoted in London at from £to i per cent. Three months bills in London are 11-16ths lower, at 13-16ths per cent. COLONIAL AND OTHER PRODUCE. Whoat. — The markets are quiet, owing to rainy wcathor in Europe threatening to delay harvests, and this, with bad I crop reports, Argentine has counteracted i weakness in America. Tho American visible supply is 16,592,000 bushels. Australian cargoes sold at 45s 6d and 46s 3d. Near cargoes arc steady, but distant are offering at less, without attracting buyers. AusLralian sailing cargoos, MarohApril, quoted 45s to 45s 3d, July 44s 6d, new crop January-February 41s 6d. New Zealand steamer afloat 44=> 3d, long-ber-ried 46s 6d, short-berried 465, landed. Oats are . very quiot. New Zealand Juno 20s 6d to 21s, La Plata June-July 13s 9d. Flour. — The market is quiet. Australian is quoted London 33? 6d. Glasgowis depressed, owing to fall in American. Australian is 6d to 9d lower on the week's official statement that whoat seeded in Canada is some 1,140,000 acres larger than 1908. Buttor. — The market is firm. Australian is in bmall supply, and is quoted at 104s to lO&s ; New Zealand, 108s ; Danish, men three kroner. Cho93e. — Now Zealand is quoted 60s to 61b Arivwtt'a ca^go wftfl leaded in good conditios.

Rabbit Skins.— Ann ing, Cobb and Co.'s report indicates thoro is a strong demand. Out of 12.54 bales offered 1220 wore sold, at an average o£ lid doaror, with better sorts 2d dearer. Sugar. — German beet, 10s sd^ first marks 12s 5d f.0.b., Hamburg. METAL MARKETS. Copper. — Spot, 18s 9d lower, at £58 Is 3d; three months, £1 lower, a$ £58 17s 6d; electrolytic, £60 5s per ton. Tin.— Spot, 17s 6d lower, at £130 17s 6d; three months', £1 lower, at £132 7s 6d per ton. Lead. — 5s lower, at £12 12s 6d per ton. Pig-iron. — £2 8s per ton. STOCK EXCHANGES. [BX TELEGRAEH — PRESS ASSOCIATION.] DUNEDIN, 9th July. Stock Exchange sales. — May Queen, 5s 9d (six parcels), 5s 4d; Standard Insurance, £1 3s 6d; Hartley and Riley, £1 3s 9d; Waihi Grand Junction, £2 5s 6d; Donaghy's Rope, £1 0s 6d. Sales reported: May Queen, 5s 4d, 5s 3d, 5s sd. AUCKLAND, 9th July. Another exceptionally large volume of business was done on the share market to-day, mainly in mining stocks. Waiotahis were again tho chief centeo of iatorest. Although thoro was no further nows from tho miuo, there wero ] heavy sales at from 7s 9d to 7s lid to i 7s 9d to 7a lid, to 7s 9d to 7s lOd, up to , tho end of tho second oall ; after which there was a firmer tendency, parcels changing hands at tho last call at from 7s lOd to 8s sd. Sellers closed at 8s 6d, and buyers at 8s 4d. Ofrhor Thames stocks were freely dealt in AUCKLAND, This Day. The business at the first call included — Sales : May Queen, at 4s 6d to 4s Id ; I Waiotahi, 9s to 8s 8d ; Grand Junction, 47s 3d and 47b ; Waihi Consolidated, 4s 8«L

Price. Variations compared with last week. 21% Imperial Consols ■i % New South Wales ... 3^ NeTf South Wales ... ■i~% New South Wales ... 4 % Victorian 31% Victorian 3,'% Victontiu 3i% South Australian 3 % South. Australian 4 % Queensland 3i% Queensland o % Queensland 4 % JNew Zealand* 3k% New Zealandf 3*"^ New Zealand j 3J/& Wescialian d"% AVestrnhau VhJo Tabmamun iS % 'iaawiuiian £ b. a. 8t L' 0 100 0 ti 99 12 G SS 0 0 10.5 0 0 93 0 0 Stj 7 0 98 15 0 81 10 0 Ktt 10 0 97 0 0 8i 10 U 105 0 0 bS 0 0 87 10 0 93 1j 0 b8 0 11 99 0 0 a? 0 0 8,9 higher Uucliauged 12/0 higher Uucuauged Unchunged 7/0 lower Uiichanifed 2/6 hig-hei.-5/- higher Uuchaugad ly/- hiaher Unchanged Unchanged Uuchauged Unchanged 5/- higker 10'- higher 10/- higher U noliaiJKCd

ihis week. £ Bullion... 39.524,000 Reserve... 29,3u8,000 Note oir'ii 30,192,000 Deposits C 0,132,000 Proportion reservo to liabilities 48 82 Last week. £ 39,572,000 29,313.000 50,210.000 70,806,000 41.40 Last year. £. 36,178,000 26,466,000 29,751,000 53,715,000 49.23

■r priet rs capital JE14,553,000 'üblio deposits... 10,332,000 Ither de. posits ... 49,800,000 test, 7-day and other bills ... 3,369,000 £78,05i,000 tfov. seeui-i-ties ... £10,869,000 Other securities... 31,817,000 Notes ... 27,751,000 Coin ... 1,537,000 £78,054,000

£57,973,000 £57,973,000 Qov. debt i Other securities ..: Gold £11,015,000 7,434,000 39,524,000 £57,973,000

Issue Department.

Banking Department.