COMMERCIAL.

New Zealand Herald, Volume LIII, Issue 16300, 5 August 1916, Page 5

COMMERCIAL.

LONDON MARKETS.

MONEY AND PRODUCE RATES

Australian and N.Z. Cable Association. (Received 7 p.m.) LONDON. August 3. BANK OF. ENGLAND RETURNS. The Bank of England returns for the week ended August 3 compare -with the returns of last week a s under: — Aug. 5. July 27. \r ■ -• i £ - I £ oln - • • • -. 52.910.000 v 54.355,000 j JV e^ » .. . . 30.627.000 33,781,000 «Ota issue .. 36.658.000 3fi.045.000 j Government deposits 51.010,000 52,990,000 i Other deposits .. 85.517.000 85,241,000 (jovernmont securities 42.138,000 42.188,000 Other securities .. 75,057,000 75,219,000 1 roportion of reserve to liabilities . . 26.50 28.05 INTEREST AND DISCOUNT. Short loans arc quoted at 4' a per cent., as against 5 per cent, last week. Iho rate of discount for three months' bills is 5| per . cent., the same as last week.

CONSOLS AND COLONIAL, STOCKS. The following are the latest London Stock Exchange quotations for consols , and colonial inscribed stock, and a com- ; panson with those reported a week ago: —

1 DAIRY PRODUCE. I Butter is very firm. Danish, which is in short supply, is quoted at 182s to 185s. New Zealand is almost exhausted, choicest being quoted at 170s to 1745. and secondary :at 160s to 168s. It is officially stated I that no Siberian is coming. •Cheese is firm. New Zealand, 88s: I Canadian, 82s. j SUGAR. I Sugar is unchanged. j . WOOL. | I The Bradford wool market is quiet and unchanged, though there is a slightly easier tendency. " " i j TALLOW. I At the tallow sales 1403 casks were j offered, and 740 sold, prices being un--1 changed. I r CEREALS. Wheat is strong, owing to reports that j rust is spreading in Canada. Flour is firm. Barley is firm. Australian is cleared. \ Peas and beans are firm and hardening. Oats are steady.

j The New Zealand Loan and Mercantile j Agency Company. Limited, have received j the following cablegram from their LonI don office, under date 2nd inst.:"Tallow : We quote present spot values for the following descriptions:—Fine mutton. 49s 9d per cwt; good beef, 48s 9d per cwfe: mixed, 45s 6d per cwt. Market steady." AUSTRALIAN PRODUCE. I A. and N.Z. Cable. SYDNEY. August 4. i Oats, Algerian, feeding 2s 7d to 2s Bd, milling 2s 9d to 2s lOd ; Tasmanian, white 2s lid to 5s Id. Barley, 3s 6d to 4s. Potatoes. Tasmanians. £7 10s to £9 Onions. £5 to £5 10s. ADELAIDE. August 4. ' Oats. Is lOd to 2s 2d.

j MELBOURNE, August 4. ! Barley: English, 4s 6d to 4s 9d ; Cape, 3s 3d to ,5s 6d. Oats : Milling, Algerian ,2s 3d to 2s 4d; feed. Is lid to 2» Id. Potatoes, £6 5s to £7 10s. Onions, £4 to £4 ss.

I There was a fair supply- of hides at yesj terday's sale. Kips were firm in price, and heavies were a farthing lower.

1 CHRISTCHURCH GAS COMPANY. I I.BY TELEGRAPH.—PRESS ASSOCIATION-.] ' CHRISTCHURCH. Friday. i The directors of the Christchurch Gas Company, in declaring an interim dividend at the rate of 4 per cent, instead of the customary 5 per cent., advise shareholders that owing to the considerable sums . which the company will have to meet, due to increased taxation, war bonus to a section of the employees, half-pay to those at. the front, and large advances in the • cost of material and coal, the directors deemed it prudent, pending consideration of the full accounts at the end of the ' year, to make a reduction in the interim I dividend. CHRISTCHURCH PRODUCE MARKET. i [BY TELtfiBAPH.— PRESS ASSOCIATION.] ! CHRISTCHURCH. Friday. ! As buyers of wheat have not yet i resumed since they went out of the market :on account of the expected drop in the price of Australian wheat for export, it is difficult to say what local values are. Several lines have been offered by growers, | who have asked late prices, but buyers i are not yet prepared to do business. jThey are doubtful as to what they will :be prepared to give until it is seen , whether the Government will take any action to protect New Zealand wheat--1 growers and millers. Oats and chaff re- ; main without change, and with only | limited business doing. The potato mar- . ket shows some signs of recovery, and a ! few more orders are coming in, but Nor- , iliern buyers are endeavouring to keep ' prices down to the level the market had lately reached. On the other hand, merchants are holding out for the rates ruling before the decline. There will be few potatoes going North during the next j ten days, and by that time it is expected i that the Northern market will be in want of further supplies. Meanwhile growers | are not offering freely, and buyers have | had to increase their limit above £6. j Several sales have, therefore, been made : at £6 5s and at £6 10s at country sta- , tions.

1 Variation. British 31 p.o. war loan. * '' * * 8 " d " Hr ■'""'';' «i '• ■• , ■ 86 7 6 1 12 6* ioM 4 - p - c - war Ioan - rl2 i 5 «. •• • . • 05 15 0 0 5 0* ' vW 7* per cent .. M 17 6 0 12 6* j voi\- -, P - c - 10S5 ••MOO 0 10 0* : vow' - } . pc - 191S • • 96 7 6 0 2 6* ' v-« ? J pc - 1930-50 74 15 0 0 5 0* V-: 3 p.c.. '1935 .. 75 7 6 0 2 6t ; Victorian 4 p.c. 19-20 . . 94 0 0 0 2 6t A jctorian 31 p.c, 1921-26 65 5 0 Same. \icterian oj p.c, 1925-49 75 10 0 0 5 Ot \ ictorian S p.c, 1929-49 66 10 0 0 5 0* Queensland 4 p.c. 1924 89 15 0 0 15 0* Queens <3 ot p.c., 1921-30 87 17 6 0 5 Ot Wuecnsl d o p.c. 1921-30 66 10 0 0 5 Ot \-7 i, PC - 192 ° •• 88 7 6 0 10 0* V-£■ -'■ P-c, 1940 . . 76 2 fi 0 2 6* «; ♦. \ PC -i, 1945 ■- fiS 7 6 0 5 0* houth Aug. oj p.c. 1950 74 10 0 0 10 Ot n. Au? 3 p.c. optional 61 10 ° Same. ;T.a». . ;J p.c. 1920-40 .. 74 0 0 0 3 6t IWA ai PX - 40 •• KB ls n Same. ! W.A 3* p.c, 1920-55 .. 76 5 0 Same. ■ " A- .> p.c. 1915-35 .. 7115 0 Same. • 'Lower. ! tHigher.