COMMERCIAL.

New Zealand Herald, Volume LII, Issue 15930, 29 May 1915, Page 5

COMMERCIAL.

LONDON MARKETS. . MONEY AND PRODUCE RATES. By Telegraph—Press Association— London, May 27. BANK OF ENGLAND RETURNS. The Bank of England returns for the week ended May 27 compare with the returns of last week as under :— May 47. May 20. r, .- £ £ £°> D - 60,418.000 60,410,000 K 0 !"™ 47,241,000 46,155,000 Note issue 32,947,000 34,002,000 Govt, deposits ... 132,089,000 130,382,000 Other deposits ... 87,742,000 94,625,000 Govt, securities ... 51,043,000 t>1,u43,000 Other securities ... 139,290,000 145,534,000 ; Proportion of reserve to liability ... 2149 20.59. MONEY MARKET. Short loans are quoted at 1J per cent., as against 2 per cent, last week. The discount rate for threo months' bills is- 2 13-3.6 per cent., the same as last week. DAIRY PRODUCE. Butter shows an easier tendency owing to the hot weather increasing- tho Homo make, but tho shortage of colonial supplies keeps prices unchanged. There is b! strong demand for cheese. Now Zealand' is quoted at 100s. METALS. Copper: On spot, buyers £77 ss, sellers £77 10s; forward, buyers £78 ss, sellers £78 10s. Tin : On spot, buyers £161 15s, sellers' £162 ss; forward, buyers £161 10s, sellers £162. ' Lead : Buyers £20.55, sellers £20 17s 6d. Silver, Is lL}d per ounce, SUGAR. Sugar is steady, and prices are unchanged. CEREALS. Wheat is _ dull and weaker. Flour is inactive. Prices are unchanged. Oats are' dull. New Zealand are quoted at 35s to 36s 6d. Peas and beans are dull. Prices' are unchanged. WILSONS PORTLAND CEMENT CO. ANNUAL GENERAL MEETING.

The annual general meeting of the Wilsons Portland Cement Company, Limited, was held at the (Chamber of Commerce yesterday, afternoon, Mr. George Elliot presiding.

Mr ' oIn moving the adoption: of the directors' report and accounts, already' published, the chairman stated that the mortgages had been reduced from £3806 to £1455. The balance would have been paid off, but the mortgagee refused to take it until the due date. The assets had decreased from £88,000 to £82,000, the reduction being due to writing off for depreciation. At the present time there were four cement companies in New Zealand, which •was one too many lor the country's cement requirements. Unfortunately for the NewZealand Portland Cement Company, it had a fire, which completely destroyed its ■works. By getting that company's business, the Wilsons Cement i Company increased its profits. The works would not be re-erected until October or November. The Dominion Portland Cement Company was now erecting works, which were expected to be ready for business about January or February of next year. The chairman stated with reference to the sale of cement in Australia, that the Common' wealth tariff on cement from other places than Great Britain had been raised. Cement had been imported by Australia, from Norway, Japan, and China, and he did not think New Zealand cement, save under exceptional circumstances, would go to Australia. Australia would become a producer .of cement, and Mr. Elliot thought the. Government should place a duty on the Australian article. , Mr. C. V. Houghton seconded the motion, which was adopted.

Captain James Smith and Mr. J. Wilson, retiring directors, were re-elected. At tho instance of Mr. Houghton, the chairman, the directors, and the staff were thanked for their services, and confidence in them was expressed, FRUIT AND PRODUCE MARKET. Business in the fruit and produce market during the week lias improved slightly, on account of a much better demand existing for choice local dessert fruit. Apples and pears, prime quality, have been in demand, and improved prices have resulted. Cooking varieties, first grade, are also selling well. Hothouse grapes have advanced, and are in demand. Lemons show a falling off in quantities, with an improved value. Sydney mandarins sold well, while lemons ex Riverina turned out again 'unsatisfactory in condition. Next arrivals of mandarins and pines should sell well. /The- Atua from Fiji landed her usual cargo of bananas. Only a few lines here and there were of good quality. The majority of consignments consisted of medium and small fruit. Potatoes: The market lias improved, and there is a much better demand. Owing to the locals being almost finished, values have advanced here and in the Southern markets also.- Supplies are equal to requirements. Onions: The bulk of stocks held are in a very bad condition. Prime quality are firm "at quotations. Pumpkins are very plentiful. Kumaras are short. Farmers' butter is in good demand arid selling well. New-laid eggs have advanced again. FIELD PRODUCE. , Potatoes: Southern, £6 10s; . medium, £i. Onions: Local, £6. Pumpkins, 2s to 2s 6d per cwt. . Kumoras, 9s per cwt. DAIRY 'PRODUCE. Butter: Farmers', in prints, Is 3d jo Is 4d; prime farmers', bulk, Is. Eggs: rresii, la lid to 2s; proserved, Is 3d. FRUIT. Apples: Local, coloured, extra superior, best dessert, case, 7s; good, 5a 6d to 8s; medium, 4s; medium, box. Is 6d to 2s; best cookers. 6s 6d to 7s; good, 4s 6d. Pears: Best dp3sert, 7s; good, 6s to 6s 6d; cooking, best, 4s: medium. 3s. Grapes: Hothouse, per lb, Is 3d to Is sd, Tomatoes: Hothouse, 6s per box. Oranges: Island, case, Bs, Mandarins: Sydney, case, 10s. Lemons: Local, prime, case, 7s to 8s; good, 5s 6d to 6s; local, rough and coarse, case, 4s; Messina, Bs. Cape gooseboiries, per lb. 4jd. Passion fruit, per case, 7s. Walnuts, per lb, 7d- Peanuts, per lb, 2Jd. Pines, crate, 10s. POULTRY.

Hens,each: Poor condition, Is 6d to Is 8d; good and ordinary, Is lOd to 3s Bd. Table. roosters, each, 2s 6d to Is 3d; small, Is 6d to 2s 3d. Ducks, each, 2s to 3s 4d, Geese, each, 3s 3d to 4s. Turkey gobblers,' each, 7s to 9s. Turkey hens, each, 3s 6d to 4s 6d. Young pigs, each, 8s to 12s 6d. CANTERBURY PRODUCE MARKET. [BY TEUUHAriI.'-I'IIESS ASSOCIATION.] CiinisTCiiuiiCH, Friday. The wheat market is much firmer on account of the demand from Ctago and Southland, as well as from the .North Island. Southern wheat is evidently not yet in a milling condition, and further supplies are therefore . required from Northern districts. Practically no grain is offering locally from growers, and it is said that very little appears to bo hdd in country districts. Home business is being done by merchants. Tuscan is said to be 68 7d, Hunters 6s Bd, and pearl 6s lOd, at country stations^ Oats have made a decided advance since' figures wero published, showing that only a comparatively small quantity has been threshed. The price now ruling is equal to 4s at country stations. Oatsheaf chaff is very firm, in sympathy with oats, the ruling prices being £6 5s to £6 10s at' country stations, according to railage. Now that the potato crop on growers' hands is mostly in tho pit, the offerings are' limited, and tlio price has advanced to £4 at country stations. AUSTRALIAN PRODUCE. By Telegraph— Press Association—Copyright. Melbourne, May 28. Wheat is nominal,, being quoted at 8s IJd. Flour, £17, Oats, nominal. 5s lid. Maize, 5s s|d. Bran, £10 ss. Pollard, £11 15s. Potatoes, £5 to £510s. Onions, £6 10a 6(1.