COMMERCIAL AND FINANCIAL

Evening Post, Volume LXXXIII, Issue 77, 30 March 1912, Page 3

COMMERCIAL AND FINANCIAL

BANK OF ENGLAND RETURN. Bj Telegraph.— freta Association.— Copyright. LONDON, 29th March. Tho Bank of England ruf-urn issued for week ending Wednesday, 27th March, is as under: — Issue Depa«'mi;kt. Note Issue, £55,1G0,000 Got. debt £11,010,000 Other, seculities ... 7.434,000 Gold ... CC,711,000 £SS,I6'J,COO £35,160,000 Bassists DupißriicsT. Pi'priefc'rs* Gov. securictipitsU £14,553,000 tieß ... ild.^Sit.OOO Public do- Other secupositt. ... 25,850,000 rities ... -11,100,000 Other de- Notes ... 26,tiC6,000 posits ... 3D,3ri,000 Co-n ... J,660,000 Best. 7-day ' and other bills ... 3,834.000 ■C83.6U.000 XS3,eU,OOO The leading items of the Bank of England return afford the following comparison:— This week. Last week. Last year, j £, £ jb ' Bullion ... 30,711,000 3C.561.000 88.482.000 -Easerve... 28,1131,000 2(3,737,000 30.301,000 Note cirn'2S,'l94,ooo 38.051,000 27,803.000 Deposits 05,227,000 66,60:1,000 04,840,000 Proportion reserve to liabilities 43.30 43.13 46.71 '' GOVERNMENT SECURITIES. The following are the litest auotationi for ; Uoveiuinont securities, with, a comparison of those ruling last week: — 1 i Variation*

THE MONEY MARKET. The Bank of England discount rate, which hud stood at 4 per cent, bince 22nd September, wa6 reduced on Btb February to 3i per cent., and remains at that figure. A year ago the rate was 3 per cent. The open market rate of discount for best three month bills 'is, 2s 6d lower at 3 7-16 per cent. ; a year ago it was 2 1-16. Short loans are 2s 6d lower at 3a per cont. ; twelve months ago the- quotation was 3. In Paris the open market discount rate is 5s lower at 3 per oent. (2i a year ago) ; in Berlin it is unchanged at 4jj per cent. (3£ a year ago). GRAIN AND FLOUR. Wheat. — Tho market is firm, and buyers are pressing. Holders are asking full late rates for cargoes. 38s 9d has been paid for Australian parcels nearly due, 37s 9d for March-April shipments. •Thore is a quiet demand for epot Australian at 4Cte 6d ; New Zealand _ nominally 38s bd to 335. Two Australian cargoes sold at 38s 6d and 39s 6d respectively. Flour. — Market Is quiet. Oats — Ruling firm. "B" Grade Gartoiif, x^pril-May shipment, offering at 20s 3d; La Plata, Anril-May thipment, 17s 3d. • . • Teai,.— The market is * flat, and uachangefl. ' ; Beans.— The market is firm. Old New Zealund, 375. to 38b. COLONIAL AND OTHER PRODUCE. Butter. — The market is demoralised. Although supplies are small, buyers are refraining from 'purchasing. Danish, 131e to 1345; choicest Australian, 122f1, occasionally J24s; secondaries almost unsaleable at 116s to 12Us; Now Zealand choicest, 124s to 126e. Choese. — The market' is quiet. New Zealand, 74s to 74s 6d. t Sugar. — Gorman beet, 88 per cent, net titre, 4d lower at 14s 6d per cwfc. ; first marks granulated, f.o.b. Hamburg, 2d lower at 17s 4d. - _ BRADFORD TOPS. The market is firm, and prices are unchanged. THE METAL MARKETS. Copper.— On spot, 47s 6d higher at £68 7s 6d per ton; three months, 50s higher at £69 ss; electrolytic, 65s higher at £72. Tin, on spot, 55s higher at £193 per ton; threo months,, 45s higher at £189 10-3. . Pig-iron, 6s lower at 51s 6d per ton. Spelter, 25s lower at £25 />er ton. SILVER. \ (Received March 30, 11 a.m.) LONDON, 29th March. Bar diver is qucted tit 20^d per ounce standard. Messrs. Murray, Roberts and Co., Ltd., havo this dtiy '•peejv<?<! tho following cablegram, datori 291h hint., from their London friends, Mebb'rs. Sanderson, Murray, and Co.: — "Sheepskins: Market unchanged to an occasional slight ndvanoH." THE DEFENCE * FORCES. In the distiict orders issued by Colonel E. W. C. Chaytor, Commanding Wellington Military District, it is announced that the foiowinaf 'officers have passed in the theoretical portion of the examination for promotion to the rank of captain :— Lieutenant*. C. O. Powles, J. T. Boswoi'th, F. H. Lampeu, F. G. Hume. It is -announced 1 tnat the ofßca of StaiT Officer for Senior Cadets has been abolished. x The officer of the area group will administer the Senior Cadets. IMence Rifle Clubs, and rifle ranges in ,his jfroup. Friday Gth, Saturday 6th. and Monday, Bth Api'ilt will bo observed as holidays at dietrict headquarters and area group ollicee. The Kov W. Shirer, Senior Chaplain, will attend the camp of the sth Regiment, which commences at Trentliajn on Saturday -next. The following changes in control of military groups and areas are announced :— To administer group headquarters — Captain J. H. Whyte (Wellington), temporary, Captain H. S. N. Robineon (Palmerston Noitfi) ; Captain P. W. Skelley (Napier), temporary; Captain G. W. Braddell (Masterton), temporary; Captain F. H. Lampen (Strattord). Adjutants, mounted regiments — Captain C. W. Powlee (Palmerston North) ; Captain W. C. Morrison (Napier): Captain D. IS. Cordate (Stratford). Adjutants, infantry regiments—Captain IT. M. W. Richardson (Wellington); Captain F. G. Hume (Wanganui); Captain A. W. Skelley (Napier); and Captain G. \V. Braddell (Masterton). First and Second Battalions respectively, Captain F. 11. Lampen (Stratford), temporary.

Price. compared with last week. -i% Imperial Consols ... * % Hen South Wales ... 3J& New South "Wales ... 3 £ New South Wale«s ... i % Viotomu 3£% Victorian IJ % Victorian !)4 fcfctouth Aukfcralian IS ifeSouth Australian ...I i %QueontiliiJiil ... S^QueensUnd 3 %(jueensUnd ... 4 3,-benr Zealand* J^Nbw Zealmidt a kNewZeulandj ■61% Westralian 3 £ Wedtwliau di^'iVumnuian i# ... ... £ s. d. 7S '0 0 103 I>J il 98 7 b b7 0 0 10J 0 (i 98 10 0 SI 10 0 97 0 t I bj 10 <i 10:5 10 0 IKi lv 0 Si 0 11 11I 1 101 0 V »7 0 t; BJ 10 0 95 10 0 87 0 t Uii 0 0 b5 0 l 7/6 higher UuuhmigGd I'liuhuuged Uiicbaugetl 10/- hi truer Unchanged Uuchauged Unchanged lt>/- hifc-her Uuciiauyed UjiCkiuigttU LTnohuugud Uuehiuised Unchanged UnchaiiKud Uueli aliped Unchiiugud Unuhauged UuchiLtigod * Interest paj*Uo in 31 t Interest payable in Jt i Interest parable in Aj laynnd.Ho iiiiKU-y unil pril aud Ut r ember. July, i to bar.