COMMERCIAL.

Evening Star, Issue 14529, 3 December 1910, Page 5

COMMERCIAL.

The secretary of the Money Club reports that applications for loans to tho amount of £260 and for six shares were received at this week’s meeting of tho trustees. Official returns show that tho world’s consumption of nitrate during the past year amounted to 43,996,966 quintals, an increase of 8,000,000 quintals as compared with the previous twelve months. MONEY AND MARKETS. Press Association—By Telegraph—Copyright. LONDON, December 2. —Bank Returns and Discounts. — The Rank of England returns show tho stock of gold coin and bullion to bo £34,301,000; reserve, £25,686,000; proportion of reserves to liabilities, 50.24. Tho notes in circulation total £28,595,000; public deposits, £11,415,000; other deposits, £39,685,000; Government securities, £14,644,000: other securities, £28,491,000. Short loans arc discounted at 42 P pl ' cent., and throe months’ bills as follows ;—London, 4 per cent. ; Paris, 2| per cent.; Berlin, 41. per cent. Gonsols arc quoted at £79 15s (last week £7B 17k 6d).

--Colonial Stocks.---The following aro the quotations for colonial Government stocks, compared with those ruling a week previous : Nov. 25. Dec. 2 New South Wales Vs... 105 106 New South Wales 3's 97,’, 97£ New South Wales s's 854 854,Victorian 4’s 1024 100 Victorian Victorian s’s 85., 85j Queensland 4’s 103 103f Queensland 34’s 974 97| Queensland 3’s 84.', _B4^ South Australian 34’s 98j 984 South Australian 3’s S' 83 New Zealand 4’s 1031 1034 New Zealand 34’s G6 964 New Zealand 3's 85g 854 Tasmanian 34’s 99 ~ 99 Tasmanian 3’s 86 86 West Australian 3.l‘s 96 96 West Australian 3’s 861 864 —Wheat and Flour.— Wheat ; The markets aro quiet and tending downwards. There is some pressure to sell on the strength of tho official estimates that the Rusi-ian crop will produce 96,640,000 quarters. Buyers are holding off. A cargo of Australian wheat sold at 35s 9d. South Australian afloat is offeriiiig at 36s Cd ; Australian danuary-Fob-ruary shipment, 55« ; parcels, January-Fcb-rnary shipment, 35s 9d : Australian spot (in smallest supply), ,36s 9d to 57s 6d; New Zealand, 52s to 53s 9d. Flour : There is a limited demand. Australian patent brands in London, 25s 6d to 265.

—Oats, Barley, and Peas. —

Oats : Flat. Gartens. 18s to 19s 9d; sparrowbills, 17s 6d to 18s 9d. Barley : The market is quiet, and prices arc unchanged. Peas ; New Zealand, quiet, but the market is sound at 45s to 435. —Butter and Cheese.— Butter : Tho market is quiet. Owing to small arrivals prices generally are unchanged. Choicest Australian and New Zealand is occasionally Is dearer. Cheese : Tho market is firm. New Zealand is unchanged. —Metals.— Copper : Spot, £57 Is 3d; three months, £57 17s 6cl. Supplies, 40,919 tons; deliveries. 43,191 tons; afloat, 8,250 tons; stocks, 86,250 tons. Tin : Spot. £172 2s 6d; three months, £172 ss. Stocks. 20,476 tons ; spot, 7,580 tons; afloat, 5,893 tons; deliveries, 2,458 tons. Lead, £l3 2s 6d. Spelter, £24. Pig iron, 49s 11/ d. —Sugar.— German, 9s; first marks, 11s 2d. —Wool.— The Bradford wool market is steady, and small business is passing; 64's, 27d; super. 60’s, 26^d; common 60s. 25/ d; 56’s, 14J<I. —Tallow.— The stocks in hand are 2,346 casks; imports, 2,082 casks; deliveries, 1,688 casks. THE WOOL SALES. Press Association —By Telegraph—Copyright. LONDON, December 2. (Received December 3, at 8.5 a.m.) Tho wool sales included the Waipahi clip, the top price for which was 13i,d, and tho average IOJd. (Received December 3, at 10.25 a.m.) There was good competition, prices being well maintained. THE CHARING CROSS BANK SUSPENSION. The Charing Cross Bank, of which Mr Alfred William C.'irpenter was proprietor, has passed into the hands of the Official Receiver in London, a receiving order having been made on Mr Carpenter’s own petition. The bank, which is described as having been established in 1870, has about thirty branches, spread over England, Scot land, and Ireland, the towns in which they are situated including Manchester, Oldham, Liverpool, Leeds, Bradford, Hull, Sheffield, Newcastle, Edinburgh, Glasgow, Paisley, Perth, Dundee, Kilmarnock, Douglas, Dublin, Belfast, Bristol, Cardiff, Norwich, Nottingham, Plymouth, and Southampton. At all these places notices were posted announcing that the bank had suspended payment, and that its affairs were in tho hands of tho Official Receiver in Bankruptcy, London, to whom applications must be made. The bank had been an extensive advertiser, and had offered 5 to 10 per cent, interest on deposits of £lO or more. It is said that these deposits exceed £1,000,000, and it is the small depositor who will, it is feared, be principally hit by the failure. To borrowers the bank has offered loans of £SO to £2,000 on personal security, jewellery, stocks, and shares, etc., and it has also had a brokerage business in the buying and selling of stocks and shares. The liabilities aro estimated roughly at £2,000,000. Tie ass :ts aro believed to bo less than that amount, although at the beginning of the year they were said to exceed the liabilities, which were then returned at £1,236,871, by £371,078.

In vijw ot the statement that “the bank has been an extensive advertiser,” it may be stated'that about two years ago the proprietors of the ‘ Manchester Guardian,’ in consequence of what was then brought to their knowledge of the bank’s methods of business, declined to receive any further advertisements from it for publication. THE SOUTHLAND MARKETS. [SI’KCIAL TO THE STAR.] INVERCARGILL, December 3. Gate.—The oat market has advanced another fraction during the week, and there is etill a fair demand. Merchants, however, do not hold very heavy stocks, and so the volume of business passing is not so great as otherwise it might have been. Farmers’ ideas of value have not yet been readied, and those holding back their stocks will not part at ruling value. Several buyers, on the other hand, consider that present prices are on the high side, and so they are operating sparingly. To-day’s prices are : —A grade Gar tons, up to Is lid, o.t.e.s. ; A grade sparrowbills, up to Ls ICUd, 0.t.e.5.: and 1! grade Id less. I Ryegrass. —Grass seed is in fair demand | owing to the dry weather being experienced in Canterbury, but very little has been, offering from the country districts, and any good heavy lines are worth up to 2s 9d, o.t.e.s. Chaff. —Chaff is alo firm, and farmers are paying a little more attention to chaffcutting. Prime lines are realising £4, o.t.e.s. ; Potatoes.— There is nothing doing in po,/j tatoes locally at present.