MONETARY AND COMMERCIAL

New Zealand Times, Volume LXXI, Issue 4103, 16 July 1900, Page 5

MONETARY AND COMMERCIAL

COMMERCIAL CABLES. , PRESS ASSOCIATION'. (Received July 11, ft.3o p.m.) LONDON, July 12. BANK OF ENGLAND RETURNS. The Bank of England return issued for the week ending Wednesday, July 11th. is as under ; Isscis Department. Note issuo .. .£47,703,000 Gov. debt .. £11,015,000 Othec eecunticu .. G,760,C00 Gold.. .. 20,033,000 £47,708,000 £47,703,000 Banking Dkparimjlnt. Proprietora* Qov. sceuricapital .. £14,553,000 tics ... 20,371,000 Public do- Otircr seposita .. 8,840,000 cudtics .. 20.9C8.000 Other de- Ilotca .. 17,030,000 posits .. 42,033,000 Coin.. .. 1,800,000 Rest, 7-day and other bills .. 8,073.000 £69,109,000 £69,109,000 The leading items of the Bank of England return afford the following comparison: This Daat Dast Week. Week. Year. Bullion .. 29,933,000 30,081.000 30,805,000 Reserve .. .. 18.830,000 1U,5b7,0C0 20,031,000 Note circulation ~ 30,010,000 30,900,000 29,136.000 Deposits .. .. 50,873,000 51,994,000 48,158,000 Proportion reserve to liabilities 3u*B7 37*82 41*39 GOVERNMENT SECURITIES. The following are the latest quotations for Government securities and a comparison with those ruling lastweek :

* Intlreat payable in May and November. + Interest payable in January and July, llntcrcst payable in April and October, THE MONEY MARKET. The market rate of discount for best three mouths’ bills is j higher, at 3 3-16ths per cent. The Bank of England rate is unchanged at 3 per cent. COLONIAL AND OTHER PRODUCE. Wheat.—The markets are firm, but inactive. There arc dullish reports concerning the American crops. Victorian July-August shipments have been sold at 32s per quarter, c.i.f. Wool.—At the wool sales low crossbreds show a further hardening tendency. The Germans arc the chief buyers of merinos, ‘Bradford- Tops.—Common sixties, unchanged, at 20)d per lb; super sixties, unchanged, at 21-J-d per lb. ... .. Sugar. - German beet, 88dcg., 3cl higher, at 11s 6d per cwt. PRICES OP METALS. Copper.—Firm. Spot, £1 7s 6d higher, at £72 15s per ton; throe months', £1 10s higher, at £72 17s 6d per ton. Tin.—Firm. Spot, £l4 higher, at £143 10s per ton; three months’, £4 10s lower, at £129 per ton. Pig iron.—Glasgow warrants, No. 1 cash, 2s 7d higher, at CDs 9(1 per ton, f.o.b. in Clyde. Lead, £1 10s higher, at £l9 per ton. Spelter, £2 15s lower, at £l9 15s per ton. Silver, 2s 4jd por oz. WOOL SALES. (Received tfuly 15, 7.28 pan.) LONDON, July 14. An improvement in prices has been maintained at tho wool sales. PROFITS OF CO-OPERATION. CHRISTCHURCH, July 15. At the annual meeting of tho New Zealand Farmers’ Co-operative Association, on Saturday, tho. report and balance sheet (adopted) recommended payment of a dividend of six por cent, and a bonus of four por cent, on paid called-up capital; a bonus of four per cent, to shareholders! on purchases; a bonus of four per cent, on salaries and wages earned; and a refund of 25 per cent, to shareholders on net commissions paid on produce sales. The net profits for tho year were £16,459, making, with £3627 brought forward, a total of £20,086. The chairman said that sales of merchandise last year reached a. sum of £181,501. Commission business showed a large increase. COAL HXPORT. GREYMOUTUH, July 15. The coal export for the week was; Blackball Company, 2144 tons; Brunner Company, A-rlfti tons. x

. - . HncoVariation. % Imperial Conaola £ a. d. 03 10 0 10/- higher •1 %*Nev South Waleo 115 0 U ■Unchanged 3$ % New South Walca 104 0 0 10/- lower 3 % New South Wales 100 0 0 5/- lower 1 % Victorian 109 15 0 5/- lower 34 % Victorian 103 0 0 5/- lower <3 % Victorian — — 3J % South Australian 3 % South Australian luti u 0 Unchanged 93 0 0 Unchanged 4 %'Queensland 3J% Queensland 109 0 0 Unchanged 102 15 0 5/- lower 4 % Now Zealand* in 0 0 5/- lower 3J% New Zealand! 104 15 0 5lower 3 % Now Zealand I 97 is 0 Unchanged 3J % West Australian 103 II 0 Unchanged 35% Tasmanian 102 15 a 5/- lower