COMMERCIAL.

Evening Star, Issue 14185, 9 October 1909, Page 5

COMMERCIAL.

The secretary of the Dunedin, and Suburban Mutual Money Club (Mr Hugh Mitchell) reports that loans to the amount t>f £550 were granted at this week’s meeting of trustees. MONEY AND MARKETS. Press Association—By Telegraph—Copyright. LONDON, October 8. —Bank Returns and Discounts.— The Bank of England returns show the -stock of gold coin and bullion to be £33,468,000; reserve, £23,636,000; proportion of reserve to liabilities, 45.21. The notes in circulation total £29,728,000 ; public deposits, £6,998,000; other deposits, £45,256,000; Government securities, £17,707,000; other securities, £28,583,000. The bank rata of discount is 3 par cent. Short-dated loans are discounted at 1 per cent., and three months’ bills as follow :—London, 2 7-16 per cent.; Paris, 2i; Berlin, 3|. Consols are quoted at £B3. —Colonial Stocks— The following are the quotations for colonial Government stocks, compared with those ruling a week previous : „ Oct. 1. Oct. 8. New South Wales 4’a ... 108 108 New South Wales 3/’s ... 99 99 New South Wales 3’s „. 883-7 86 3-7 Victorian 4’s .„ 104/ 104 Victorian s£a ... „ 93 971 Victorian 3’s' ... _ Queensland 4’s .„ „ ... 1044 1044 Queensland 3/'g ... _ .„ 971 974. Queensland 3’s „. 864 86j] South Australian 3)’s ... 99 99 South Australian 3’s ... 84/ 84/ New Zealand 4’s 107/ 106 New Zealand 3/’s ... 983-7 98| New Zealand 3’s ... .„ _ 865-7 86/ Tasmanian 3/’s 100 100 “ Tasmanian 3’s 87 87 West Australian 3|’s 99 975 West Australian ?s 89 87/ —Wheat and Flour.— Tha wheat markets are dull, and bnyers are apathetic and unwilling to increase their stocks. Sellers are quiet and indifferent, and are pursuing a waiting policy, hoping for an improvement later. Meanwhile the world’s shipments are very heavy, those from Russia constituting a record. There has been a rather bettor inquiry for cargoes during the last few davv. : lie to 41s 6d is asked for Australian afloat, 37e to 37s 6d for the new crop, and 40s for parcels afloat. There is little demand for Australian spot at 42s 6d to 43s 6d. New Zealand long-berry, 38s; short-berry, 37e. The flour market is dull. Australian patents are obtainable at 31s (ex store). —Butter and Cheese.— Butter : Danish, 126s to 128s. Owing to a strong German demand the market is very firm. A few of the best colonial lots arriving are readily sold. Australian, 114s to 116s; New Zealand, 116s to 118s, Secondary sorts are quite neglected. The cheese market is dull. New Zealand, 56s to 575. —Metals Copper : Spot, £SB; three months, £53 18s 9d. Tin : Spot, £139 2s 6d; three months, £l4O 7s 6d. Lead, £l3 ss. Spelter, £23 ss. Pig iron, £2 12s 2d. —Sugar and, Wool— The sugar market is quiet. German, 10s lid; first marks, 12s lOd. The Bradford wool market is rather quiet. Prices are unchanged. —Barley and Oats.— (Received October 9, at 8.30 a.m.) Barley : Good inquiry for Chevalier ; 32s 6d is asked for on-passage cargoes. Oats : Fair demand. Gartens, 24s to 265; sparrowbills, 23s to 24s 6d; Algerian, Ice; La Plata, December and January shipment, 14e 9d. ALUMINIUM FOR AEROPLANES. Press Association—By Telegraph—Copyright. . SYDNEY, October 8. During the last ten days over £3,000 worth of sheet aluminium, intended for use in constructing aeroplanes, was sold by one Sydney firm. THE SUGAR INDUSTRY. Press Association—By Telegraph—Copyright, MELBOURNE, October 8. .f n the Federal House of Representatives the Government promised the appointment of a commission to inquire into the sugar industry, and to ascertain if the_ bounties are fulfilling the object for which they were intended. A TASMANIAN LOAN. Press Association—By Telegraph—Copyright. LONDON, October 8. (Received October 9, at 8.30 a,m.) Tasmania is placing a loan of £300.000 at 3/ per cent, and a minimum of 98/, payable in 1940, on the market. The first six months* interest is payable in January. BANKERS AND THE COLONIES. Press Association—By Telegraph—Copyright. LONDON, October 8. (Received October 9, at 8.30 a.m.) At a meeting of the Bank of Australasia,_ Mr Leslie Hanndereen, director, who presided, declared that the prospects for the wool and wheat yields wore excellent. The only unsatisfactory feature was frozen meat, and even this showed some signs of improvement. Australia and New Zealand were difficult countries for bankers. The natural optimism of the inhabitants tended to an undue inflation of values in good times. He hoped that the lesson learnt between 1893 and 1903 would prevent the people becoming demoralised by their existing prosperity. AUSTRALIAN SHIPPING TRADE. Press Association—By Telegraph—Copyright. CAPE TOWN, October 8. (Received October 9, at 8.30 a.m.) It is reported here that the Hamburg. German-American Steamship Company have arranged with the Swedish South African Line to stop competition, and that they have agreed alternately to despatch monthly steamers from Sweden to Australia. THE.COTTON INDUSTRY. Press Association—By Telegraph—Copyright BERLIN, October 8. (Received October 9, at 9.5 a.m.) It is _ reported here that a syndicate of British and German ootton spinners have acquired 15,000 acres in South-west Texas (U.S.A.) for division into small holdings for cotton farmers, preference to be given to those of German origin. THE SOUTHLAND MARKETS. [Special to the Stab.] INVERCARGILL, October 9. Oats.—Local merchants have been doing practically nothing in this line during the week, but a satisfactory shipment ’went north to Auckland per barque Louisa Craig, comprising 10,968 sacks. Prices yesterday were Is 4d to Is 6d, o.t.c.s. Chaff.—The chaff market is dull and very little business has been transacted, despite the fact that a large quantity has been offering from the country. Quotations are 35s to 40s, o.t.c.s. Grass Seed.—The grass seed market remains firm, and prices for undressed lines range from Is 6d for light to 2s 6d for heavy seed, o.t.c.s. Potatoes.—There is no' improvement to report in the potato market, and the nominal quotation yesterday was 355, 0.t.c.5., with no buyers.