COMMERCIAL AND FINANCIAL. BANK OF ENGLAND RETURN.

Evening Post, Volume LXXIX, Issue 118, 21 May 1910, Page 4

COMMERCIAL AND FINANCIAL. BANK OF ENGLAND RETURN.

By Telegraph.— Prens Association. — Copyright. LONDON, 20th May. The Bank of England return issued for tho woek ended Wednesday, 18th May, is as under: — Issue Department. Note Issue, £55,167,000 Got. debt £11,015,000 Other seculities ... 7,434,000 Gold ... 36,718,000 £55,167,000 £55,167,000 Eahkiug Department. Pr'priet'rs' Gov. seeuricapital £14,553,00? ties ... £13,819,000 Public de- Other secuposite ... 17,190,000 ntiea ... 28,678,000 Other de- Notes ... 27,-JOI.OOO posits ... 36,874,000 Coin ... 1,125,000 Best, 7-day and other bills ... 3,2C6,000 £70,823,000 £70,823,000 The leading items of the Bank of England return afford the following comparison: —

GOVERNMENT SECURITIES. The following aro the latest quotationa for Government securities, with a comparison of thofae ruling last week: —

THE MONEY MARKET. The Bank of England rate of discount remains at 4 per cent., to which it was raised on 17th March. A year ago tho rate was 2£ per cent. Tho open market rate of discount for best threo months bilh is 5-16 higher, at 3£ per cent. A year ago it was l£ per cent. Short loans aro lg higher, at 6| per cent., a year ago tho quotation waa 1 por cent. The open market rate of discount for three months bills in Paris is unchanged, at 2k per cent. (H a year ago); in Berlin it is unchanged, at 3 per cent. (2i a year ago). GRAIN AND' FLOUR. Wheat. — The markets are very flat, owing largely to pressure to sell on the part of Russians. There is also considerable weakness in the American and Continental markets. Liberal offers of Indian wheat aro forthcoming, and European crop prospects are fairly favourable There is thus no prospect of the markets improving unless serious damage to crops occurs. Little enquiry is mnde for cargoes 1 . Some havo been sold at 54s 3d to 65a per quarter, while 35s 3d is asked for Adelaide and Victorian sailer lots (January shipmont). There is only a small retail demand. Australian on the spot is about 395, and Now Zealand — of which tho quality is disappointing^ — about 35s to, 35s 6d. Two Australian cargoes sold at 35s and 31s 6d. Flour. — Markets dull. _ Australian patent brands arc quoted in London at 28s per sack, and in Glasgow at 29j. MayJuno shipment is offering at 27s landed in Glasgow. Barley. — Maikct inactive, and Australian practically unsaleable at 21s to 22s per quarter. Oat 3. — Market quiet. New Zealand Gartons are quoted at 20s to 20s 6d per quarter, and sparrowbills 17s 9d. La Plata, May-June shipment, 13s 3d. COLONIAL AND OTHER PRODUCE. Butter. — The market is very quiet, and all prices aro practically unchanged sinco last week, at : Danish 113s to 114s per cwt., Australian, choice 100 a to 102s, secondary 965; New Zealand, choice 106s to 108s. The larger part of colonial arrivals is being stored. Cheese. — Market continues weak, and New Zealand is Is to 23 lower on the week, at 56s per cwt. METALS. Copper. — On the spot, £56 103; at three months, £57 8s 9cl; electrolytic, £59 5s Tin.— On tho spot, £151 2a 6d; at three months, £152 7s 6d per ton. Lead, £12 16s 3d per ton. Iron, £2 9s lOd per ton. WOOL. The Bradford wool market is quiet, but firm. AUSTRALIAN PRODUCE MARKETS. SYDNEY, 19th May. Owing to the good rains that have fallen in New South Wales and Victoria, and th*> depression in the London market, wheat is weak. Shippers' limit has been rechieed to 3s 7id, millers aro offering 3s 9d to 3s 9£d, and holders wante 3s lOd to 3s 10id. Flour, £9 15s ; oats, Algerian feeding 2a , 4d to 2s sd, milling 2s 6d to 2s 7d, eparrowbilla 2s 7d ; barley, feeding 3s, seeding 1 3a 2d ; maize, 2s lOd to 3s ; bran, £5 ss ; pollard, £5 ; potatoes, Taemanian, £6 ; onions, £4 ss ; butter, 11+s ; cheese, 6£d' to 7d; bacon, 6id. MELBOURNE, 19th May. Wheat, 3s 9d ; flour, £9 ; oate, Algerian prime, 2s 2£d ; barley, prime English maiting 4s 4d, Cape 2s 8d; maize, 2s 9d); bran, £5 10a ; pollard, £5 ; potatoes, £3, £4, to £5 ; onions, £3 to £3 ss. ADELAIDE, 19th May. Wheat, 3s 7d to 3s 8d; flour, £8 ss; bran, Is 2d; pollard, Is l^d. MELBOURNE HIDE MARKET. MELBOURNE, 13th May. In the hides market prices of kips were unchanged. All other sorts were a farthing lower. WRIGHT, STEPHENSON AND CO. DUNEDIN, 19th May. The annual meeting of shareholders in Wright, Stephenson, and Co. was held today. The balance, including the amount carried forward from last year was £32,315 18s lid, and the dividend to be paid on ordinary shares is 6 per cent., while £5000 J3 placed to reserve fund, and £9167 14s lid carried forward. C.C. AND D. COMPANY. Tho C.C. and D. Company, Ltd.. to-day cabled the following report on the frozen meat market: — Mutfcon marketcontinues weak ; further fall in values ; lamb and beef markets steady, and value of beef advanced id per lb. To-day's prices are: — Mutton: Canterbury, 4id ; Napier, Wellington, and North Island, 3|d. Lamb : First quality s^ ; second do., sd. Beef : Hindquarters, 4|d ; forequarters, 4d.

This week. Last week. Last year., £ £ £ Sullion ... 36,718,000 37,3J4,000 36,805,000 Reserve... 28,326,000 28,448,000 27,736,000 Sote cir'n 27,966,000 28,319,000 29,201.000 Oeposita 53,054,000 52,233,000 55,910,000 Proportion reserve to

Price. Variations compared with last week. 2i% Imperial Console ... 4 % New South Wales ... 3£% New South Wales ... i'% New South Wales ... ♦ % Victorian Si% Victorian 3 % Victorian 3J:%tfouth Australian 3 %South Aubtralian 4 Si^Queensland 3 '^Queensland 4 3J & Ne w Zealandt 3 %Hetr Zunlaudf r.. S'j%Westraliau 3 x,Westralian ... 3|%TaBma,nian 3 % Tasmania!! j £ B. a. &2 0 0 107 0 0 99 0 0 88 10 0 103 10 0 99 10 0 67 0 0 oa o o 8i 10 0 104 10 0 97 0 0 86 7 0 lOti 10 0 98 U 0 87 10 0 &7 10 0 87 10 0 9a 10 i> St> 10 '0 7/Q higher Unchanged Unchanged 5/- higher TTnchauged 10/- higher Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Uncivilised Unchanged Unchanged Unchanged * Interest payable in M t Interest payable in J: X Interest payable in A; iuyand November, rauary and July, pril and October.