FINANCE AND TRADE.

New Zealand Times, Volume LXX, Issue 3884, 30 October 1899, Page 6

FINANCE AND TRADE.

“New Zealand Times” office, Saturday event- ir The Customs returns for {£day amounted to £B4O 6s lid j or j-he past week, £8403 17s Id. phe beer duty for the week totalled ki7s A 4s 6d. The Q f the Bank of England for the we ok ended the 2otb inst. strew mos,7 Satisfactory features, revealing a substantial increase in gold, in reserve, and in the proportion of reserve to liabilities. As compared with last week's figures, there is an accession ot £830,000 to the stock of. gold coin and bullion and of £l,uoi.ooo in reserve, while there is a reduction of £1,184,000 in the total of deposits, resulting in an improvement of 2.97 per cent, in the proportion of reserve to liabilities. The totals of gold and reserve are better than the figures of a year ago, in spite of which the proportion of reserve to liabilities is less than at the corresponding date of last year, owing to a heavy increase in the deposits. The total of “ other securities” has declined from £32,427,000 to £30,728,000, a reduction of .£1,699,000, showing that the bank has borrowed from the market to that extent in order to strengthen its position. The tone of the open market continues easy, as lue rate of discount for fine three months’ bills has gone down to 4j}, a fall of \ per cent., though the bank rate is still maintained at 5 per cent., a difference of | per cent. The stock market seems particularly buoyant. Imperial consols are dearer by 2s 6d, and nearly all classes of colonial stocks are higher by from os to 2us. Eleven classes show improvement, while only one is lower, and ty/o are unchanged. New Zealand 3,3 i and 4 per cents are higher by 15s, 20s and 20s respectively. Apparently the Transvaal war, by depreciating the whole range of what the Stock Exchange calls/‘Kaffirs,” has given Australasian securities a relatively better place in.Jthe market, while capital appears to have been flowing into .London for investment. '

COMMERCIAL CABLES. PRESS ASSOCIATION. LONDON, Friday. BANK OF ENGLAND. ' ■ The Bank of England returns published yesterday show the total reserve of notes and coin in the Banking Department for the week to be .£22,527,000, as against 1,520,000 for last week, and .£21,237,000 for the corresponding week .of last year. Tho proportion of reserve to liabilities is 44.43 per cent., as against 41.46 last week arid 48.65 last-year-. The circulation of notes is .£28,010.000, as against ,1:28,185,000 last amok and ,£‘27.070,000 last year. The complete returns are as under:— - Issue Department. Note issue .. £13.793,100 Govt. debt.. £11,015,000 Other securities 5,785.000 Gold.. .. 81.993.000 £48,793.000 £43,793,000 ■ Banking .Depahtment. . Proprietors’ Govt. scouri- . capital..' £14.553,000 ties: .: 15,180,000 Public de- Other boposits .. 8,072,000 entities .. 80 728.000 Other dc- Notes .. 10,753,1,(0 posits 42,473,000 Coin.. .. ],774,010 Best. 7-day and other hills 3 343,000 £OB 441,000'’ 2 '* £08,441.000 THE MONEY MARKET. 'The market rate of discount for best three months’, bills is i lower, at 4J per cent. The Bank of England rate is 5 per cent., as against 4J per ccfet. on the 4th October, 3| per cent, on thff 2nd October, and 3 per cent, on 12th July. CONSOLS AND COLONIAL STOCKS. • The following are the latest qimtatipns. for Imperial consols and colonial inscribed stocks, and a comparison with those ruling lust' week:— , .

' * Interest payable in May and November, f InLereßi payablfi in January and July., t Interest payable in April and October, BRADFORD TOPS. The Bradford top market is advancing. Common sixties, id higher, at 28iq; super sixties,',id highet, at 20id. v SUGAR. The sugar market is firm. German Inset, 88deg., lid higher, at 9s l J a d per cwt; Java cane. No. 15, D.S., unchanged, at 11s 9d. * ■ WHEAT. , The wheat market is dfill and inactive. Australian cargoes, Juno shipment, are quoted at Ills 6d per quarter, c.i.f.; parcels by sailing ships now due at 29s per quarter c.i.f. '’• '• ' ’ „ . ' BUTTER..- ■ The butter market is steadying. Australian choicest is quoted at 108 s to 110 s, as against 108 sto 112 s last week. A few boxes of fancy sorts fetched 112 s; secondary quality, 91s to 101 s. as against 100 s to 106 s last week; Danish,Tlßs, as against 120 s (nominal), last week. THE PRICES OP METAL. Copper—Spot, 25s lower, at £74 2s 6d per ton; three months’, 25s lower, at £74 10s per ton. Tin is weaker. Spot, 35s lower, at .£ll3 15s per ton; three months’, 35s lower, at £144. ' -- _ Pig iron, Glasgow warrants, No.-1, cash, 9d higher, at 70s 9d per ton f.o.b. in Clyde. Lead, 12s 6d higher, at .£l6 15s per ton. Spelter, £il 15s per toni ■ • REEFTON MINING. GREYMOUTH, Sunday. The Reefton raining returns for the week are Alpine, 201 oz amalgam . from 102 tons: Cumberland, 30oz gold from 100 tons. COAL EXPORTS. WESTPORT, Sunday. The coal export for the past week was 71V5 tons 16cwt, of which the Westport Coal Company shipped 6950 tons 12cwt, and the Cardiff Company 225 tons lewt. The Blackball Company, shinned S'TS tons and the Brunner Company 1291 tons. DREDGINGRB TURNS.. DUNEDIN, Sunday. The dredging returns-for the weeks are: —l6 oz; Matau, 13oz; Manorburn, 360 z 3dwt; Success, 31oz Idivt; Nil Desperandumi 290 z: Golden Treasure, 250 z; Tuapeka, 230 z sdwt; Molynetix Hydraulic, 220 z Idwt; Vincent, 21oz; Waimumu, 21oz; Golden Terrace, 19oz lldw.t; 1 Inch Valley, 18oz ISd.wtr Enterprise. l6oz 19dwt; Golden Beach, 16oz; Sunlight, 15oz lldwt; Otago, llbz sdwt; Clyde, 12oz; v Chatto ureek, lloz; Ophir, 9oz 13dwt. A high river and, running drift has been interfering with the Molyneux. dredges.

.Price. Variation. M 103 B. 17 d 6 2/6 higher 110 )() 0 Unchanged % N»w South Wales 101 15 0 16/- higher 3** % New South Wales 100 0 0 2iM- higher lit 0 0 5/- higher 3J % Victorian ;. 100 0 0 25/- higher 34 % South Australian ;. 11,7 0 1- . 0/- lower 93 0 0 15/- higher 4 % Queensland no 0 0 Unchanged 31 % Queensland .. -; 101 15 0 10/- higher no 5 0 20/- higher nr/ 5 0 20/- higher 3* % New Zealand! .. ov 0 0 15/ higher 34% West Australian • .... 101 0 0 la/- higher 34 % Tasmanian . .. .. 101 15 0 15/- higher