COMMERCIAL.

Evening Star, Issue 13002, 22 December 1906, Page 7

COMMERCIAL.

(For continuation see Late Shipping.)

MONEY AND MARKETS. Press Association —By Telegraph—Copyright. LONDON, December 21. (Koceivod December 22, at 12.35 0.m.) Tho Bank of England returns show the stock of gold coin and bullion to be £28.774,000 ; reserve, £19,712,000; proportion of reserve to liabilities, 38.45. The notes in circulation total £28,733,000 ; public deposits, £7,000,000; other deposits, £45.073,000; Government securities, £15,459,000; other securities, £33,857,000. Three months’ bills are discounted at 6 per cent. Consols are quoted at £B6 17s 6d. The following are the quotations for colonial Government stocks, compared with those ruling a week previous : Dec. 14 Dec. 21 New South Wales 4's 1071 1071New South Wales stf’s ... ... 100 100 New South Wales 3’s 881 88, Victorian 4’s 103 103 Victorian 3i's 99 99 Victorian 3’s South Australian s£’s ... 99i 99j South Australian 3’s 861 861 Queensland 4’s 105 105 Queensland 3j’s— ... 981 98 Queensland 3’s 861 861 New Zealand 4's 1071 1071 New Zealand 5)-’s 1001 1001 New Zealand s’s ... . ... 891 89 Tasmanian Si’s 981 981 Tasmanian 3's West Australian 3Vs 98 38 West Australian 3’s 871 871 The wheat markets are flat owing to tho anoroach of the holidays, the easier tendency in America, and the larger offerings from Argentine, where a good crop is practically assured. Cargoes are quiet and rather easier. 30s is asked for Victorian and South Australian December and January shipment, and 29s 71 <i for New South Wales. There is but little business, however. Spot prices are unchanged. Tho New Zealand supplies arc exhausted. Flour : Neglected. Prices unchanged. Freights quiet, but steady. Butter: Danish, 121s; colonial, unchanged. Choicest brands and well-cleaned secondaries are slow of sale, and there is a weaker tendency. Tho lateness of the arrival of the Wakool’s consignment is causing trouble. Some buyers are refusing butters because they arc now unsaleable until after the holidays. Copper: Spot, £lO6 17s 6d; three months, £IOB 10s, Tin : Spot, £195 10s: three months, £196. Lead, £l9 17s 6d. Pig iron, 51s 4d. Spelter, £2B. Sugar : German, 8s lOd : first marks, 10s 4d. Bradford wool is very firm, and crossbreds ore hardening. (Received December 22, at 9.24 a.m.) At the sheepskin sales there was a good attendance and competition. Four thousand six hundred bales were oßered and sold. Merino combings advanced a farthing, fine cross-brcds a farthing to a halfpenny, and coarse a halfpenny. THE GOLD RESERVE. Press Association—By Telegraph—Copyright. LONDON, December 21. (Received December 22, at 7.44 a.m.) Mr Felix Schuster read a paper at the Bankers’ Institute on ‘ Our Gold Reserves.’ He advocated the formation of second reserves by each bank, including the savings banks, contributing 2 per centum of their liabilities on demand, making £12,000,000 in gold, which the Bank of England should hold and only use with the permission of a small committee of bankers. Mr Schuster also advocated that the Bank of England be empowered to increase the note issue against securities after the bank rate had reached a certain level. THE OAMABU MARKET. [Feom Oca Own Cobjiespoi!pknt.] December 22. There has been some inquiry during the week for prime milling wheat fiom millers desirous of stocking up sufficiently to carry over the holidays, but holders generally ask prices much above buyers' limits, and business has therefore been restricted. In some instances millers have made slight concessions over current’ rates, and sales, as on trucks at country stations, have been made ar the following figures: —Tuscan. 3s 2d: mixed hues. 3s 2d ; velvet, 3s Id : Rpdchaff. 5s OJd- Oats are. in some request, hut few are available. Sales of Gartens have taken place at from 2s to 2.s 2d on trucks at counter stations, according to quality and cost of railage, while some Danish have changed hands at Is lid at country stations. Old potatoes have dropped about £5 a ton. Derwent? having been quitted at £8 ex store. IMPORTANT LAND SALE. The. National Mortgage and Agency Company, Limited, report the sale to Mr Pannett. of the ‘’Brothers.’’ Timaru, at a satisfactory price, of a subdivision of the Teviot Station, belonging to Messrs Macfailane and Co., consisting of about 11.500 acres- of freehold and 35.000 acres leasehold ; also fume 15,000 sheep. The freehold is divided into twenty paddocks, with a considerable part of them under English grass, and the property is altogether a most attractive one. It is expected that the homestead block will shortly also find a hnver. as it presents one of the most favorable opportunities of acquiring a high-class pastoral property which has occurred for a done- time. The Teviot Estate is one of the largest and most noteworthy in Otago. It No matter how severe an atlaek of diarrhoea may he. Chamberlain’s Colic, Cholera, and Diarrhoea Remedy never fails tc give relief.— ( Advt-3

was originally owned by Messrs Cargill and Anderson, from whom it was purchased in 1891 by Mr W. T. Scrimgeour. Twelve years later this gentleman disposed oH bis interest- to Messrs Maefarlane and Co. Since its purchase by Messrs Maefarlane and Co. large sums have been spent in rabbitproof fences, the country being now rabbitproof fenced in comparatlvely r small areas. They have also cleared a large acreage of scrub, as well as ploughing tussock and increasing the area of English grass, and the country now carries a fine flock of half-bred sheep for the depasturing of which it is specially adapted. PROPERTY SALES. Three properties were offered at auction by Messrs E. L. Macassoy and Co. The first, the six-roomed residence known as “ Waratea,” in Castle street, was disposed of to a buyer for £792. A fourroomed houso on the Main South road, Hillside, together with i-acre leasehold land, was next put up, but the bidding failed to overtake the reserve, and the lot was passed in at £350. The third lot was Mr A. J. Brandt’s freehold property at the corner of Bay View; road and Amey street, South Dunedin, consisting of a two-roomed cottage, four-stalled stable, and 26 poles of land. This also failed to reach the reserve, the highest bid being £265. Messrs Alex. Harris and Co., auctioneers, report having sold by auction yesterday, at their rooms, part of sections 29 and 50. block 8, fronting Cashel street, South Dunedin, 34ft by 90ft, with a fiveroomed hrick dwelling ; also two sections adjoining, each 32ft by 90ft. The property was sold on account of Mr AV. Adams, and realised £l7O.