COMMERCIAL.

Evening Star, Issue 12926, 24 September 1906, Page 6

COMMERCIAL.

BANK EATE OP DISCOUNT. LONDON, September 22. The discount market, has become disorganised owing to the Bank of England refusing to discount bills under 4£ per cent., except for its own customers, who are charged 4 per cent. THE PRICE OF COAL. Press Association—By Telegraph—Copyright. MELBOURNE. September 24. (Received September 24, at 9.42 a.m.). Five shillings of the recent advance of 10s in the price of coal have been taken off. THE MARKETS. Press Association—By Telegraph—Copyright. LONDON, September 23. (Received September 24, at 7.27 a.m.). Copper, £BB 10s. Tin: Spot, £lB4 ss. Three months, £lB3. Silver, 31 11-16 d per oz. Copia : Steadier, and unchanged. Linseed oil, £22. Hemp : Quiet. September and October shipment, £34 10s. Wool : The Antwerp sales closed with prices unchanged; 7.085 bales of La, Plata were offered, and 2,223 sold. Rabbits : Firm .and unchanged. Frozen meat : Sbeep—Canterbury, lio-M, 3-gd ; medium. 3^d; hea-vv. 3 5-16 d'; Southland, 3 7-16 d; North Island, 3§d; best brands, 3 7-16 d. Lamhs— Canterbury, light, 4-fd ; medium, 4fd ; heavy, 4 7-16 d ; other sorts, unchanged. Beef —Fores, 2|d hinds, River Plate sheep unchanged. Beef—Fares, 2kl: hinds, 3 9-16 d. AUSTRALIAN BUTTER AND WINES. LONDON. September 23. Replying to the toast of " The Colonies " at the Grocers' Exhibition, Mr Taverner (Agent-General for Victoria) said he hoped that the Government would promptly introduce legislation on the lines of the suggestions of the Butter Committee. He protested against the unfairness of allowing basis wines to be imported free to the detriment of pure, good wines, on which Australia would be glad to pay duty. THE METALS MARKET. Press Association—By Telegraph—Copyright. SYDNEY, September 24. (Received September 24, a.t 9.48 a_m). The strong metal values in London have had a hardening effect on silver shares; the market is active, and prices arc advancing. THE AGENT-GENERAL'S CABLE. The Department of Industries and .Commerce has received the following cable from the High Commissioner, dated London, September 22 : —There are signs of improvement in the mutton market. Great scarcity exists in light weights, holders not being anxious to sell. Canterbury mutton is quoted at 3-gd for light weights, and 3fd for heavy weights. The price of North Island mutton is 3{jd and according to weight. There is a good demand for lamb, considering the last season. All brands are aiioted at 4Jd for light weights and 4£d for kavy weights. The stocks of New Zealand beef on hand are light. The market is firm. Average" price, 3|d and for hind and foreqnarters respectively. The butter market is very firm. Choice New Zealand is \ quoted at 117s, Danish at 1265, Canadian at 115s, and Siberian at 106s per cwt. There is a better demand f<r cheese, and Canadian is quoted at 62s tea- cwt. The temp market is firm, and there is a general active demand. G.f.a.q., on bhe spot, Wellington, is quoted at £34 lOsjper ton; Oc-tober-December shipments similar price. Manila : Fair current on spot is worth £4l per ton. The cocksfoot seed marketis quiet. Buyers are not keen to do business. Quotations: Bright, (dean, 171b dressed seed, 44s per cwt. ' GRAIN AND PRODUCE REPORT. Donald Reid and Co. report-:—We held out weekly auction sale of grain and produce at our stores to-day. There was a fair attendance of the local trtde, and as most of the lines offered suited their requirements we cleared the catabgne under good competition at prices in most cases fully up to late quotations. Wo quote: Oats-—We have had more active demand from exporters, but, although tbtiy are prepared to take a fair quantity of" B grade Garton and sparrowbills, their limits axe barely up to. late quotations. In most cases shippers have little diffkuhy in filling •their orders at lower prices fiom other ports,/ so that a firm adherence to late quotations precludes the possibility of much business. Local stocks, however, are not heavy, and with anything like t steady export demand, ' a clearance weald., be easily effected. The demand for seed kinds

is now slack, and milling sorts have only moderate inquiry. Wo quote: Seed lines, 2s 5d to 2s 9d; prime milling, 2s to 2s 3d; good to best feed, 2s Id to 2s 2s; inferior to medium, Is lOd to 2s per bushel, sacks extra.,

Wheat.—The market is still in a stagnant condition, except for fowl wheat, which has fair demand at late values. Quotations for milling wheat are, under present conditions, only nominal, as no business is yet passing. ' We quote : Prime milling, 3s 5d to .3s 6d ; medium, 5s 2Jd to 3s 4d ; best whole fowl wheat, 3s Id lb 3s 2d ; broken and damaged, 2s 9d to 3s per bushel (sacks extra). _ Potatoes.—Consignments havo been coming forward freely of late, and the market is now more fully supplied. Prime seed lines--chicfly Up-to-Dates of good shape and size—are still in fair demand, but as many large buyers have filled their requirements in this respect, late values are barely maintained except for very best lots. Table sorts are more plentiful, and, although meeting with fair demand, are only saleable at a reduction on last week's quotations. The market is over-supplied with small potatoes, for which there is no demand. We cannot advise clients to consign these if they havo any. use for them, as prices.obtained here, for them cannot be satisfactory. We quote : —Best seed Up-to-Dates, etc., £l2 to £l3; good do, £ll to £ll 10s ; best Derwents and otlier table sorts, £lO to £lO 15s :medium. £8 10s to £9 10s; small and'inferior, £3 to £7 per ton (sacks included). Chaff.—Tho supply of prime, bright oaten sheaf has not been hea.vy, and for this class there is good inquiry at quotations. Medium to good quality is in full supply, and cannot be readily dealt with ; while for inferior quality there is practically no sale. We quote: Prime, bright oaten sheaf, £3 17s 6d to £4; extra choice, to_£4 2s 6d; medium to good. £5 10s to £3 15s; inferior and light, £3 to £3 5s per ton (bags extral. Turnips.—We quote: Best Swedes, 15s to 16s per ton, loose (ex truck).