COMMERCIAL.

New Zealand Herald, Volume LIII, Issue 16372, 28 October 1916, Page 5

COMMERCIAL.

LONDON MARKETS. MONEY AND PRODUCE RATES. ' Australian and N-Z. Cable Association. I (Received 10.15 p.m.) LONDON, Oct. 26. ', BANK OF ENGLAND RETURNS. Tire Bank of England returns for the week ended October 26, compare with the returns of last week as under:— Oct. 26. / Oct. 19. , £ £ ' Coin 64,178.000 65,436,000 ' Reserve 87,827,000 88,237,000 I Nolo issue 86,686,000 86,668,000 , Government deposits 62,543,000 65,689,000 , Other deposits ... 112,172,000 108,496,000 ' Governm't securities 42,188,000 42,188,000 ' Other securities ... 102,443,000 101,890,000 1 Proportion of reserve , to liabilities * ... 22.96 23.30 j INTEREST AND DISCOUNT. ] Short loans are quoted at 5 per cent., j the same rate as last week. . The rate of discount for three months' bills is 5 9-16 per cent., the eanie rate j as last week. i CONSOLS AND COLONIAL STOCKS, j The following are the latest London i Stock Exchange quotations for console and ] colonial inscribed stock, and a comparison , with those reported a week ago :— ( VariaPrice. tion. < £ s. d. s. d. ' British 3i p.c. war loan, ' 1925-28 , ... 84 10 0 10 0* British 4i p.o. w«r loan, 1925-45 95 10 0 Same , Consols, 2} per cons. ... 56 7 6 7 6+ N.S.W.. 4 p.c, 1933 ... S3 12 6 2 6* N.S.W. 34 p.c, 1.118 ... 95 5 0 Same N.S.W. 31 p.c. 1930-50 ... 72 2 6 12 6t N.S.W. 3 p.c.. 1935 ... 69 15 0 7 6* Victorian 4 p.c. 1920 ... 93 12 6 2 6* Victorian 3} p.c, 1921-26 84 0 0 2 6t , ■Victorian 31 p.c, 1925-49 70 15 0 Somo' ' Victorian 3 p.c. 1929-49 62 12 6 2 6* < Queensland 4 p.c. 1924 88 0 0 Same i Queensland 31 p.c, 1921-30 85 15 0 7 6* Queensland 3 p.c, 1921-30 62 15 0 Samo . N.Z. 4 p.c. 1920 ... 85 5 0 12 6* N Z. 3} p.c, 1940 ... 72 16 0 5 0'; N.Z. 3 p.c. 1945 ... 62 10 0 20 0* South Aus. Si p.c, 1950... 73 0 0 2 6* South Aus. 8 p.c. 0pt.... 59 0 0 Same Tasmania* 31 p. 0., 1920-40 72 15 0 Same Tasmanian 3 p.c, IJ>2O-10 66 0 0 Samo W.A. Si p.c, 1920-35 ... 74 17 6 2 6* W.A., 3 p.c. 1915-35 ... 70 5 0 Same ' * Lower. i Higher, WHEAT AND FLOUR. Parcels are firm. There tire no cargoes offering. There is a strong demand for flour. The quantities offering are small. Australian patents are quoted at 55s 6d. "OATS. The market is strong. A sale of La Plata, ex quay, at 36s 6d is reported. PEAS AND BEANS. The market is very firm. There are no New Zealand offering. BUTTER AND CHEESE. The butter market is very firm, as supplies of all sorts are short. Danish is quoted at about 2103. Supplies of New Zealand have been practically cleared; the current price is nominally 200s. Ot;her quotations are: Canadian, 194s to 1973; Argentine. 194s to 198s. The cheese marget is firm, and prices are tending higher. Quotations are: Canadian, 112s to 115s; New Zealand, 112s. SUGAR. Prices qre unchanged. METALS. Cupper: Spot, £124 ss; three months, £119. Electrolytic corner, £144. Lead : Spot, £30 10s; three months, £29 10s. Spelter: Spot, £54; three months, ' £51. i Tin: Spot, £182 2s 6d ; three months, £183 12s 6d. Silver, 32id. THE WOOL MARKET. HARDENING TENDENCY. Australian and N.Z. Cable Association. (Received 10.15 p.m.) LONDON. Oct.* 26 A miscellaneous selection of Merinos was offered at to-day's wool sale. Prices were fully maintained. There was a large offering of crossbred*, mostly slipes. Prices were slightly harder, greasy crossbred making extreme rates, The Bradford market is strong, with a hardening tendency. Current quotations are :—Sixty-fours "55Jd; super sixties, 54jd; common sixties, 53jd; fifty-sixes, 40d; fifties, 33d; forty-sixes,. 28£ d; forties, 27Jd. At the sheepskin sales 2800 bundles were offered. Practically all were sold. Competition was somewhat irregular compared with the September sale. Combing Merinos advanced |d, clothing \i; combing crossbreds were unchanged, clothing jd dearer; a few short clothing advanced l£d. Lambs were unchanged. I MOSQIEL WOOLLEN COMPANY. [BY TELEGRAPH.—PRESS ASSOCIATION.] DUNEDIN, Friday. The annual report of the Mosgiol Woolen Factory Company states that the lirectorg recommend payment of a divilend of 7 per cent., with a bonus of 2 per :ent., leaving £12,663 to be carried forvard. FRUIT AND PRODUCE MARKET. Business in the fruit and produce market luring the week has only been fair, small ihipments having come to hand. The narket is barely supplied, and a pood leraand existed for best lines of fruit and general produce. Consignments of Sydney fruit are restricted owing to high export values. Stocks of 'Frisco oranges and apples are getting low, and fresh arrivals are not due until about November 12. Potatoes (new) : Supplies are very limited, and not equal to demand. Crops are much later this season than last, and at present the tubers are very small. Old potatoes are light in supply and selling at high rates. Onions: There is a good demand, and only fen- offering. Vegetables are in excellent demand, and fetching good prices. Fresh eggs are firm at quotation, and there is a good demand for farmers' witter. FIELD PRODUCE. Potatoes: Local, prime, now, best 2{d to 3d lb. small Id, to lid; Melbourne, £12 10s ton: best Southern Now Zealand £11 10s ton Qjjions: Imported. £11 ton. Pumpkins, 6s. Kiunaras, 9s to 10s cwt. Bent cauliflowers. 5s to 8s dozen. Best cabbage, 2s 6d to 4s dozen. Green peas, 2s 6d peck. Cucumbers, 63 to 8s dozen. DAIRY PRODUCE. Butter: Farmers', in prints. Is 3s. Eggs: Fresh, Is 3d dozen. FRUIT. Apples: Local coloured, oxtra superior, desert. 15s case; cooking, 14s. Tomatoes: Hothouse. 9d to lOd lb Oranges Ixical. 16s case; Sydney, 13s. Mandarins: Sydney, 20s case. Lomous: Local, prime, cured and wrapped 15s to 17s case, fresh 7s to 9s, half boxes 2s 6d to 3s; local, rough,and coarse, 3s 6d to 4s case. Passion fruit, 10s case. Walnuts. lOd lb. Peanuts. B|d lb. Pines. 9a Crflto - POULTRY. Hens: Good. 4s to 6s 8d each; poor 2s 9d to 3s 6d. Table roosters, 4s to 6s 4d each. Ducks, 2s 6d to 4s each. Chicks, 4d to Is 8d each. Ducklings, lOd to Is lOd each. Turkeys: Gobblers, 10s to 15s each- hens, 6s to Bs. A large portion of the birds to hand were in very poor condition. Anything heavy was keenly competed for. Youne pigs, 12s 6d to 15s. PROPERTY SALES. THE COTTER ESTATE. A good attendance was attracted to th< gale of city properties in the estate of thi late Mr. Thomas Cotter, held yesterdaj by Mr. T. Mandeno Jackson. Bidding was fairly brisk, but did not reach the re serves. Immediately after the sale, how ever, a section having nearly 80ft frontagi | to Pitt Street was sold for £850. A sec jtioa at th» corner of Argyle and Wallao

Streets, having 100 ft frontage to the former, and 60ft to the latter, was sold for £775. At Mr. J. Thornes's auction sale yesterday there was a good attendance, and tho ' bidding was moderately brisk. The 299£ jcres at Putaruru did not reach the reserve, and was withdrawn for private sale. The leasehold property in Bracken Avenue, on allotment 66ft by 174 ft, bad good competition, and was sold for £705 cash. The freehold in Sackville Street, Grey Lynn, an allotment 40ft ly 266 ft, with house of six rooms, was sold 'or £550 cash. HONEY AND EXPORTS. The New Zealand Trade Review of October 26 says the banking returns to September 30, being tho averages for the juarter, do not disclose the full effect on ,he supply of money of the raising of the var loan, which only started in the latter ialf of the quarter. Other demands are ilso being made on the banks' funds now 0 finance the gathering of our season's produce and also our imports which are airly heavy at present. The excess of de)osits over advances shown in the return vill be materially reduced by now, though -he banks will still have ample funds for Jl reasonable requirements. Exports show an increase of £5,216,107 n the year, and imports are £4,806,164 leavier, consequently there is an improvenent of £409,943 in the already splendid >alance of trade, and in the two years this mproveinent is £7,631,190. According to )resent indications our exports for the x>ming season should show further inTease, but owing to the high cost of goods mports may also increase; however, a ;ood balance appears assured, and conse[uently a good supply of funds flowing into lie Dominion. AUSTRALIAN PRODUCE MARKETS, Australian and N.Z. Cable Association. MELBOURNE. Oct. 27. Hides were in fair supply at yesterday's ales. Light and medium sorts were unhanged in price, while hoavier kinds were 1 farthing lower. Oats, Algerian, 2s 2d to 2s 2id; feed, La TOd to Is lid. Potatoes, £7 10s to 88. Onions, £4 to £5 ss. SYDNEY, Oct 27. Oats, Algerian feeding, 2s 4d to 2s sd; nilling, 2s 7d; Tasmanian, white, 2s 6d :o 2s od. Barley, 3s to 3s 6d. Maize, 3s lOd. Potatoes, Tnsmanians, £5 10s to S3 10s. Onions, £4 to £5. ADELAIDE, Oct. 27. Oats, Is 8d to Is lOd. 2HRI9TCHURCH PRODUCE MARKET [BY telegraph.— ASSOCIATION]. CnRISTCHTJRCH, Friday. There is a fairly largo amount of business passing in wheat between merchants and millers, at prices from Id to 2d in idvance of rates lately ruling. The market is distinctly firmer, in view of the fact that the wheat market all over the world is abnormally high. There is, therefore, no further fear of cheap supplies coming in from Australia. Another factor that tends to the firming of the local market is the scarcity of offerings from the country. Very few lines now are coming forward, and, therefore, little idea can bo Dbtained as to what prices would be paid at country stations. With about threequarters of a million bushels carried over from last year, and a little over seven million bushels returned for the last harvest, the question is, where is tho wheat being held ? Millers' and merchants' stocks are low, and buyers 6ay they can hear of little being held in the country districts. There is nothing fresh to resort in regard to oats or chaff. Potatoes have further advanced, and are now quoted at £8 5s to £8 10s at country stations, with very few offering. New potatoes from the North Island are now :oming forward.