COMMERCIAL.

Evening Star, Issue 15139, 22 March 1913, Page 5

COMMERCIAL.

r l he recent announcement that Messrs Mills and Sparrow, butter importer.*, London were retiring from business was incorrect, Mr Sparrow is retiring, but MiMills will carry on the business. Applications for loans to the amount of £3OO and for 34 shares were received at this week's meeting of tho Money Club ' trustees. An extraordinary general meeting of the Standard Insurance Company was held in the registered ofhres of the company, High street. Dnnedin. on Thursday afternoon, and was attended by a representative gathering of shareholders. The husiness of the meeting was to confirm a special resolution in connection with the adoption of the new articles of association to be in substitution of the existing articles. This resolution on being proposed by the chairman and duly seconded was carried unanimously. MONEY AND MARKETS. Press Association—By Telegraph—Copyright. LONDON. March 21. —Bank Returns and Discounts.— The Bank of England returns show the stock of gold coin and bullion to be £25.654,000; reserve, £26.828,000: proportion cf reserve to liabilities! 40.46 per cent. The notes in circulation total £28,484.000; public deposits, £25.627,000; other deposits. £40.657,000; Government securities. £13.034.000; other securities. £44.823.000. The Bank rate of discount is 5 per cent. Short loans are discounted at 4J per cent., and three months' bills as follow : —London. 4 15-16 per cent. ; Paris, 3J per cent, ; Relin, 6 per cent. Consols are quoted at £73 15s. —Colonial Stocks.— The following are the quotations for colonial Government stocks, compared with those ruling a week previously •

* Repayable 1930-1950. t Repayable 1929-1949. —Wheat and Flour.— Wheat : The market is firm, and there is a fair inquiry. A cargo of Australian wheat sold at 37s 7-J,d. "Australian spot is quoted at 41s to 41s 6d. New Zealand is practically exhausted, but a few lots have been sold at 40s. Flour : Quiet and unchanged. —Oats, Peas, and Beans.— Oats. Quiet, La Plata March-April shipment, 15s l^d. Peas : Dull, and prices are unchanged. Beans : Dull. Old New Zealand,' 39s to 41s. —Butter and Cheese.— Butter : The market is dull, and a. holiday tone pervades the market. Danish butter is selling at £6 12s to £6 13s. Choicest colonial has cleared well. Australian salted, £5 8s to £5 12s; unsalted, £5 12s to £5 16s. Secondaries are dragging at £5 2s to £5 6s owing to competition by margarine at Is retail. New Zealand, salted £5 18s to £6. unsalted. £5 18s to £6 2s; secondary. £5 10s to" £5 14s. Cheese : The market is quiet, and prices are unchanged. —Metals.— Lead. £ls Is 3d. Spelter, £24 10s. Pig iron, 655.

—Sugar.— German, 9s lid : first marks. 12s 3d. —Wool.— The Bradford wool market is firm, and prices are unchanged. AUSTRALIAN PRODUCE MARKET. Press Association—By Telegraph—Copyright. SYDNEY, March 20.—Oats : Tasmanian white and sparrowbills. 3s 2d to 3s 3d; Algerians. 2s lOd to 3s Id; choice giants, ,3s 2d to 3s 3d. Barley: Cape feed, prime. 4s; seed. 4s 2d. Maize: Prime, 4s 6d to 4s 7d.' Potatoes : Tasmanian redskin. £9 10s. Onions. £8 to £8 ss; New Zealand. £7 10s. Butter: Selected. 104s; good second grade, 98s to 100s. Cheese. 7d. Baenn. 10d. MELBOURNE. March 21.—Wheat : Buyers, 3s 8d; sellers. 3s Flour. £8 15s. Oats : Algerian feeding. 2s 2d to 2s 4d ; seeding, 2s 6d. Barlev : English, 3s 9d to 4s 3d; Cape, 3s to 3s'3d. Maize. 3s 10d. Bran and pollard, £5 15s. Potatoes, £7 15s. Onions. £7 to £7 ss. ADELAIDE, March 21.—Wheat. 3s7d to 3s 7-<d. Flour, £8 12s 6d to £8 15s. Bran and pollard. Is 2d. Oats, 2s 2d. THE HIDE SALES. Press Association—By Telegraph—Copyright. MELBOURNE, March 20. At the hide sales to-ady there was a fair sized catalogue. Prices were unchanged. GLUT OF AUSTRALIAN LOANS. Press Association—By Tek-graph—Copyright. LONDON, March 20. (Received March 21. at 9 a.m.) The 'Daily News' in announcing there will be yictorian a.nd Westralian loans after the holidays says there is a glut of Australian securities. There have been or will be six loans offered totalling £13.300,000. of which the underwriters are taking £10,466.000. PRESS WIRE RATES. Thursday's cahle message means a. further reduction in Press cables over the Pacific Compan\-'s line from 9d to 7£d per word, which is equal to a flat rate of 12s 6d per 100 words. THE TURAKTNA'S CHEESE. Press Association—By Telegraph—Copyright. RIO DE JANEIRO, March 21. (Received March 22, at 11.20 a.m.) The Catalina is loading 3,000 crates of the Turakina's cheese, which represents the only dairy produce that was salved.

THE WOOL SALES. Press Telegraph—Copyright. LONDON, March 20. The following prices were realised for tho fleece portions of the clips named : Pukenui, top price 10£ d, average lOJd; Eaeby, top lid, average 10£ d. The number of bales sold for home consumption was 84,000, for the Continent 36,000, for the United States 3,000, while 15.000 bales were held over. Compared with the January sales, greasy merino combings generally advanced 5 per cent,, and others were unchanged. Scoured wool advanced 5 per cent., and choicest cross-breds, which lacked American, support, were unchanged. Average parcels of finer grade were firm, while coarser sorts advanced 5 per cent., merino and lambs' wool generally advanced 10 per cent., and crossbreds fully Id. The Bank of New Zealand have received the following cable advices from their London office regarding the closing of the .present series of London colonial wool sales in London :—"The sales have closed weak, with prospects uncertain. Political events on the Continent have depressed the market. Total qtiantitv held over. 26.000 bales, of which 9,000* bales are New Zealand. Compared with the opening of this series prices are 5 per cent, lower for all kinds of grcasv crossbreds."

Mar. 14. Mar. 21 New South Wales 4's .. ... 101 101 New South Wales 3£'s .. ... 96' 96 Xew South'Wales 3j's .. ... *90 *90 Xew South Wales 3's .. ... 82 82 Victorian 4's ... 100 100 Victorian 3j"s ... 93 95 Victoria 3-i's ... t91 t91 Victorian 3's ... 78 78 Queensland 4's ... 100 100 3ueensland 3|'s ... 94 91 Queensland 3's ... 77 77 South Australian 3|'s .. ... 91 91 South Australian 3's ... 76 76 Sew Zealand 4's ... 100 100 New /Zealand 3£'s ... 90 89 Xevr Zealand 3's ... 78 78 Tasmanian 3>j's ... 89 89 Tasmanian 3's ... 83 83 West Australian 3J"s ... 90 90 West Australian 3's ... 84 84