COMMERCIAL.

Evening Star, Issue 13102, 7 November 1908, Page 5

COMMERCIAL.

MONEY AND MARKETS. Press Association—By Telegraph—Copyright. LONDON, November 6. —Bank Returns and Discounts.— The Bank of England returns show the stock of gold coin and bullion to be £34,218,000- reserve, £25,330,000; proportion of reserve to liabilities, 52.0. The notes in circulation total £28,986,000; public deposits, £6,353,000; other deposits, £42,364,000; Government securities, £12,731,000; and other securities, £26,160,000. The bank, rate of discount is 2j per cent. ; short loan bills, per cent. Three months’ bills—London, 2 1-16 per cent.; Paris, 2|; Berlin, 2|. Consols are quoted at £B4 7s 6d. —Colonial Stocks.— The following are the quotations for colonial Government stocks, compared with those ruling a week previous :—. Oct. 30. Nov. 6. New South Wales 4’s 108 108 New South Wales 3£’s 99 99 New South Wales 3’s 81 87 Victorian 4’s 104 104 Victorian Si’s 100 100 Y'ictorian 3’s 89 89 South Australian 3j-’s 99 99 J, South Australian 3’s 86J 86J Queensland 4’s 106 i 106 V Queensland 3|’s 100 100" Queensland 3’s 87£ 8?i New Zealand 4’s 106£ 107 New Zealand 3j’s 100 100 New Zealand 3’s 87£ 87V Tasmanian Si’s 99 98’ Tasmanian 3’s 88 88 West Australian Si’s 97V 97f West Australian 3’s 86| 86J —Wheat and Flour.— The wheat markets are firm, showing an advance of 6d. Further reports regarding the damage to the Argentine crop have had a stiffening effect, speculations maintaining prices. Cargoes on passage are firmly held, while 58s 5d is bid for steamer cargoes loading. Australian spot is unchanged. The sales included 9,£00 quarters November shipment at 37s 3d, and two Australian parcels of 13,000 quarters each, January-February shipment, realised 56s 6d. The American visible supply is 72,676,000 quarters. The flour market is quiet. Australian patents, 25s 6d to 26s 6d in London, while 28s is asked in Glasgow for October-No-vember shipments. —Butter, Sugar, and Wool— The butter market is dull. Danish, 127s to 128s. There is less demand for colonial owing to the retailers raising the price to Is Id per lb, causing the consumers to buy Is mixtures. Quotations are nominally unchanged, though there is an easier tendency. The sugar market is steady. German, 10s Id ; first marks, 11s lid.' The Bradford wool market is unchanged. ’fhere is a better tone, but little actual business. —Metals. — Silver, 23gd per oz. Copper : Spot, £62 17s 6d ; three months, £65 15s. Tin : Spot, £137; three months, £l3B 7s 6d. Lead, £ls 12s 6d. Spelter, £2O 2s 6d. Pig iron, 48s 83d. SKIN AND HIDE REPORT. Ylessrs Dalgety and Co. report as follows : Rabbitskins.—We offered a mediumsized catalogue at our sale, held on the 2nd inst. The catalogue was comprised almost entirely of off-season skins, which were keenly competed for by a full attendance of buyers, a very satisfactory clearance resulting. Owing to the lightness of arrivals the sales will shortly be held fortnightly. Quotations :—Winter does, 21Vd to 23-Jd ; second winter does, 18s to spring does, lid to 12jd ; winter bucks, 15£ cl to 17d: outgoing bucks, to 14jd ; spring bucks, 12d to 13d. Sheepskins.—We offered a fairly large catalogue at our sale on Tuesday, 3rd inst., the usual buyers being in attenddatice. The bulk of the offerings consisted of merino and fallen skins from high country. Competition was fairly brisk at prices about on a par with late rates. We quote :—Half-bred, 6d to 6Jd ; fine cross-bred, sid to 6d ; crossbred, 4jd to sd; half-bred dead, 5d to 6d ; merino dead, 4Jd to s|d; cross-bred dead. 3jd to 4-^d. Hides.—We submitted a medium-sized catalogue at auction on Thursday last. Under fair competition the catalogue was cleared at prices well up to late rates. No hides of special merit were included in the catalogue, and we cannot therefore instance any extreme prices at this sale. Values ruled as under -.—Prime stout heavy ox, to 7£d ; ordinary substance, 63d to 6£d ; sheety, 4d to 5d ; medium and light ox, to s]d; heavy cow, to sd; light and medium cow, 4cl to 4Jd; calfskins, sound, sjd to 6d ; calfskins, damaged, 4d to 5d per lb: sloppy and damaged hides from £d to 2d per lb lower, according to condition. Tallow and fat : Prime mutton tallow, 20s to 22s 6d ; medium, 18s to 20s ; inferior, 16s to 18s; best can! fat, 16s to 17s 6d : rough fat, 14s to 16s per cwt. THE MARKETS. In the local wheat market during the week the conditions rarely altered from those prevailing last week. Millers only purchase to serve their present needs. There was no change in the price of flour, which sells freely at the following tariff of the Association:—Sacks, £lO 15s; 100’s, £l] • 50’s, £ll 10s; 25’s, £ll 15s, The shipping price is £lO 10s, and the Invercargill price £ll. The demand for oats was limited, and the pushing of farmers’ lots on the market led to a decline in the price. Locally sales are being effected at Is 8d (ex store) for B grade, or Is 6d on trucks at country. Dull business in the Oatmeal is still quoted at £lO 10s per ton. The fruit market has been very dull during the past week, and practically no business has been done. A small consignment of fruit from Sydney is due to-day by the Ulimaroa. She is also bringing close on 1,000 cases of American apples. A cargo of Tongan bananas is expected on Thursday next.