MONETARY AND COMMERCIAL.

New Zealand Times, Volume LXVI, Issue 3260, 18 October 1897, Page 3

MONETARY AND COMMERCIAL.

By Telegraph.—Press Association .— Copyright London, October 15. Tho Bank of England returns published to-day show the total reserve to ho .£20,921,000 (£059,000 less than last week), the proportion of reserve to liabilities being 43 21 per cent. Three months’ bills are discounted at" 2 9-16th per cent.—a rise of i per cent, since last week. The following are the latest quotations for Government securities :

♦lnterest payable In May and November, (Intercut payable la January and July. (Interest payable in April and October. Hemp is firmer, though New Zealand consignments are quiet. Wellington is quoted at J!1410s. Babbits—Australian are in brisk demand at about lid each. English supplies are increasing. The English wheat market is quiet but steady ; the Continental is firm; and the American is changing a little for the worse. Californian No. 1 milling, for early shipment, 38s 6d; Russian cargoes (Qhirka), 38s o.i.f. pec 4921 b. Colonial oats, fine, 27s 6d j ditto common, 335. Colonial beans, 32s fid. The sugar market is steady. German beet, 88deg, 8s 75d per cwt; Java cane, No. 1, D.S., llsperowt. Pig iron, Glasgow warrants, No. 1,44 s Od per ton, f.o.b. in Clyde. At the wool sales just closed, 160,000 bales were offered, of which 95,000 were sold for Home consumption, 63,000 for the Continent, and 2000 for America, while 13,000 bales, including 7000 not offered, were held over. The Bradford tops market is quiet.

GOLD VERSUS SILVER. Received October 17, 5.25 p.m. Ottawa, .October 16. The Canadian bankers have protested against interference with the gold standard. They declare that silver is unsuitable as a basis for banking and commercial transactions. A MINT FOE PERTH. Received October 17, 5.5 p.m. London, October 16. Authority to establish a mint at Perth, West Australia, has been gazetted.

Price. Variation as compared with last week. 2f 6 Imperial Consols .. £ III B. 10 d. 0 5/- lower. New South Wales hid 0 0, Unchanged. (y Now South Wales .. I0H 1(J 0 Unchanged. 8'^ New South Waloa .. IUI 6 0, Unchanged. 4% Victorian till 0 0 1 10/- lower. IU8 0 0|Unohaugod. 8i° b South Australian 111 0 0 1 , Unchanged, 8% South Australian 1UU u 0 10/- lower. o{ 5/- higher. 4% Queensland 114 5 4 Queensland .. uw 0 0 20/- higher. 115 0 O 5/- lower. up f Q Now Zealand! ioa 10 0| Unchanged. 8^ Now Zealand 1 .01 15 ©(Unchanged. f>¥ L West Australian Oli U 0|l0/- lower. 819 a Tasmania 10 0 0 10/- lower.