COMMERCIAL AND FINANCIAL.

Evening Post, Volume LXXXII, Issue 25, 29 July 1911, Page 4

COMMERCIAL AND FINANCIAL.

BANK OF ENGLAND RETURN. B? Telegraph.— tress A/uoei»ti6n.— Copyright. mi LONDON, 28th July. The Bank of England return issued for week endinj? Wednesday, 26th July, is as under: — I Isstjs Depamjtbn*. Note Issuej £53,4U9,000 Got, debt 411,018,000 ! Other socu. I fities ... 7,494,000 ! Gold ... 59,980,000 ! £58,409,000 JEM^O9,OOO ! BANSISfI DfiPAftf jiEHT. Pr'ptiet'is' Gov. Mettrt* capital , £14,583,000 ties ... £14,967,000 Public At' othet seou- - posits ... 9,190,000 rities ... 28,427,000 Other de- 2fote3 ... 29,220,000 l>oßits ... 46,525,000 Coiu *> 1,203,000 Seat, 7-day dfid other bills .., 3,549,000 d5?3,315,000 £73,816,000 The l«ftdiflgf itetat of the Bank of Engl»nd return afford the iallowine compari* •ossTing week. Last week. List year, 1£ £ A Bullion ... 89,960,000 39,660,000 39,527,000 ftesdrtfe... 80.422,000 30,032.000 30,49?,000 Note cim '29,189,000 129.326,000 28,612,000 Deposits 65,715,000 56,233,000 59,413,000 Proportion reserve to' ■ liabilities 54.50 53.38 51,23 GOVERNMENT SECURITIES. The following tre th« latest ouotatism tot ( Government securities, with a com* panson of those ruling last week:— I Variations -. Price oompatid --» race. mth last week. £ s. d. Q% Imperial Consols ... 78 2 fe 7/3 lower 4 % Ntew South Wales ,„ 104 0 I) TXiiClmuged '6\% New South "Wales ... 09 10 0 Unchanged 6 % New South Wales ... 87 10 0 10/. higher 4 % Victotiau 101 Vi 0 Unchauged 34/ v Victorian ' ... ... 08 0 0 Unchctuged U.% Victoflau -84 10 0 Unchanged S« % South Aiißfcttlian ... 98 10 l> Uuohauged 3 '/gSotlth Australian „, 8i 0 « Unchanged 4 ... ,„ 103 0 0 Unchanged Bi%(^ueenslaud „. ,„ 98 0 0 Unchanged 3 %Que*&dlaiid ... ... 86 0 0 Unchanged I %neit '/•6*\&nd* ...104 0 0 Unchanged 34&.Neiy Zealandt ... 97 0 (■ 10. hisfhee 3 ZeHlandj ,„ S« 10 G (Jnchunifed SJiXWebtl-alinu ... ... 9? 7 6 Unchanged 3 feWesttAlian ... ... 86 10 0 Unchanged <H%Tusinaiiian „, ,„ 97 0 0 Unchanged 8 %,Tttamanian ... ... 84 -10 0 Unchauged • Interest payable in May and Noremfceiv t Interest payable in January and July. $ Ittteeatt payable in April aud October. THE MONEY MARKET. The Bank of England deposit rate remains at 3 pef cent., to which it was reduced on 9th March. A year ago it was 3 per cent. The open market dis> count rate for: best three month bills is la 3d higher at Z 146 per cent. A yeat ago it was 2 1-6. Short! loans are 10* higher at 1% per cent. A year ago tho quotation was .I^. The Bank of franco rate for the week is not _ cabled. Tho open market discount rate in Berlin is 6s higher" on the week at 2£ per cent. A year ago it was 3. GRAIN AND FLOUR. Wheat.— The wheat market is firm on ' account of adverse crop reports from Russia and Germany, and the failure of the Indian monsoon. Buyers are cautious on account of the unsettled political situation. Thirty-four shillings is asked for Victorian ofl>eoast cargoes, and 34s 3d •for South Australian and Victorian sailers, March' April shipment, and Victcffian steamer July shipment j 33s 4^d to 33s 7£d has been paid for parcels of July-August shipment. There 13 little demand. Australian on the spot 365. Best New Zealand long-berried, 3Ss 6d to 365. Flour.— Australian flour 13 plentiful. There have- been a few sales in store at £24 per ton. Oats.— Oats are 9Carce, Gartons 21s 6d to 22s 6d, Sparrowbills 20s 6d to 21s 6d. A La Plata July shipment, 16s. Beans and Peas.— Beansj, New Zealand, 333 6d; peas, Naples, 39s to 40s. , COLONIAL AND OTHER PROB.UC& Butter.— The market for butter is very firm. The drought continues. There have been only slight local rainfalls inEngland. Danish is unchanged. Choicest Australian is 4s higher ad 110s to 112s, occasionally 114s per cwt. tJnsalted does not command a premium owing to its large proportion of arrivals. There havd been good sale 3of secondaty quality at 1028 to 108s, a rise of 6s. Hand-Btored butter is selling well, and many retailera arc restoring small quantities. Cheese.— Cheese is in good demand, and prices aro unchanged. Sugar.— German beet sugar, 88 per cent. net titre, is 8d higher at 13s 2d per owt, first marks is also Sd higher at 15s 2d. BRADFORD T.OPS, The Bradford wool market i# steady; 64's 27|d t supe? 2?Jd, common 60's 2610, 66's 22id, SO^s lSd, 46Vl$£d, 40's 14£ d. THU M*tfAL MARKETS. Copper on the spot is quoted at 56 7s 6d. 1 pef ton, at threff months £56 18s 9d, elec--'tfolytio £58, 10s (a drop of 5s on the Tin-fof fcaah is quoted at £190- per ton, ** drop of £1 10s on the week. Spelter ia unchanged afc £23 per ton. . Pig-iroa.—Middksbro* No. 5 in an*: changed at -47s pef ton. (Received July 29, 1&20 a.mj LONDON, 28th July. ■Ear silver iaaquoted afc 24<1 per ouncs. • SHEEPSKIN SALES. (Received4*iJy; 29, 8.5 a.m.) LONDON, 28that»ly, 'At the sheepeldn*salefl SOOO^buodles w«re catalbgued. Therd was a small attendance of'bnyers and-^f airly --iiea^y withdrawals. A» cornered with the June sales, merino cornßiags were* -practically unchanged. Merino and fine crossbred olothingg»ttnd fine* crossbred combings were* a farthing per lb lower, and coarse cfoss-bted»4k-httKpcnny loweft This Ntwr Zealitfldt Loan and Mereantild Agency Company, Ltd,, has received tho following cablegram front London dated mh instant :— "Tallow.— W«i qtioter present ■spot, valtwi for t.hff fo4k>-»ing descriptions : Good muMon, 34s 9d per cwt; goorf beef, 32* 3d; lnixoil, 30s. Thp market i* dull. Wh^at.-We hftVfl sattt a N4W Zealand parcel ot, 32s H<l, ci.f. The market istirtn, afttl prop rejforH ire urtfaroafablc. Market qui«t but steady. Tha niarkel prespeot* in Ifidift ar« not likely to improve at prwiont." The United Pafreern' Co'Operativef Assetcia*ion r Ltd., ami' tb« Wairarpa farmers' fJo'fiip. Association, Ltd.. report that the following prices W(*tb realised at rhe fortnightly sales helil jp^le«lay :— Wool nrutchingK, ofean, %d to 6d,'per lb; heavy condition and seedy, 4kl to 6id. Sho<?pskifl<», good crosdwed, 6id to 62t1; lttedhim, s^l to 6^l ; hogget and dead, 5d to 6d; short to 2-wool, 4^d to s^d; seedy and inferior, 3fd to 4£d. Hitl'es, ox, 6d to 7dj cbw, s^l to 6|cl; calf skins, 6tl to Bd.