FINANCE AND TRADE

New Zealand Times, Volume XXXII, Issue 7046, 7 February 1910, Page 6

FINANCE AND TRADE

LONDON FINANCIAL CABLES. By Tcleßraph—Press Association-Copyright. LONDON, February 1. BANK .01-' F.iXGLAXL IJETURN. The Bank of England return issued for tho week ended Wednesday, February 2nd, is us under: l!IM DKPAIITMKST. Noto Igaua £01,120,000 Gov. debt. £11,010,000 Other securities .. 7.431,00 i-) Gold .'. .. 35,070,000 zsiwifioo isij2G,ooo BAKIU.NO- DBPiIITMEMT. rrn-irietors' Gov, securic%i"l£ll.ssß,ooo tie ..^11,011,000 1 uLiia de- Other fleposiW .. 10,211,000 critics .. ».«».""" OiLcr tie- Notea ■- 25,072,000 posits .. 40,104,000 Coin .. 031,000 Rust 7-day nmlotbrr bills .. 8,103,000 i'7l,l2fi,oJo £71.120,000 The lending items of tlie liank of England return nffuid tlio following comparisons : This week. Last week. Last year. £ £ ■£ Bullion ... 35,676,000 34.02C.C0fl 33,1-11,000 Reserve ... 26,950,000 27,611.000 2t,0U,000 Note o'rri 28,151,01)0 -'7,715,00(1 29,134,000 Efc-poHits... 53,105,000 53,279,000 50,677,000 Vro portion reserve to liabilities 50.40 51.85 4/.3G GOVEBNMENT SEOTJBITIES. The following are tho lateßt auotations for Government securities, with a comparison of those ruling lost week:

THE MONET MARKET. The Bank of England rate of discount is now at 3i per cent., to which rate it was lowered from 4 per cent, on January 20th. The open market rate of discount for best three months' bills is 3-1 G lower at 29-1 G per cent. Short loans are J lower at 2i per cent. The market rate in Paris is unchanged at 2J per cent.,, and in Berlin it is unchanged at 3J per cent. COMMERCIAL CABLES. By Telegraph—Press Association—Copyright. LONDON, February 4. GRAIN AND FLOUR. The wheat market is dull, with an easier tendency. Resellers of Australian cargoes are willing to accept a reduction, but there is little inquiry. For South Australian and Victorian 40s Od per cxuarter is asked, and 40s 3d for February shipments. Flour is flat. Australian patents, nominally 31s to 31s 6d. ' -. Oats, steady. La Plata, January-Feb-ruary shipment, 15s IJd. COLONIAL AND OTHER PRODUCE. Butter.—Market very firm, with a good demand. • Choicest Australian, 118 s to 120 s per owt, occasionally 1245; secondary Australian 114 s to llfis; Danish, 125 s to 1275. Cheese, firm. New Zealand, 58s to £93 per owt; Canadian, 60s to 625. A direct shipment of South Australian ambs to Avonmouth found a good market at 3Jd to 3Jd per lb. German beet sugar, 88 per cent., 13s at flf 2d' Vtj fifSt sranulated - 3(1 higher WELLINGTON STOCK EXCHANGE. SATURDAY’S QUOTATIONS. 1 mining stock. Auckland.—Kur;umi Caledonian—lo a.m., “ 13 M. May Queen—lo a.m., b 4s 3d : noon, b 4s 3d. _ N.Z. Orown-10 a.m., b 4s lid. New Sylvia—lo a.m., b 3a 6d, s 3s 7d--5° h 6d, b 3s Bd. Old Hauraki o! Mlnesr-io arm., b 6s. b 5s 6d, sales 6s, 6b 8d (reported) • noon, b 4s lid, s 5s 4d. Saxon--10 am.. b Is 6d; noon, b Is 6d. Tairua Broken Hills—lo a.m.. b la, 3 Is 3d; noon, b Ib. Talisman Consolidated—lo ami. b £2 Bs 9d, s £2 9s. sales £2 8s 9d. £2 9b (reportcd). £3 9s £2 8s 9d (’Change); noon, b £2 ?« M. 8 £2 9s 6d, sales £2 9b 3d (’Change). tValhi—lo a.m., b £9 16a 6d, s £9 18s sales £9 17s (reported). Taihl Consolidated—lo a.m., b Bs. Walhi Grand Jnnction—lo am b £1 7s 6d, b £1 7b 9d, sales £1 7s, £1 73 3d (reported), £1 7s 9d (’Change); noon, b £1 8s 9d. s £193. IVaitamd Consolidated N.L —lO a.m., b Is 6d; noon, b Is 6d. ■West Coast.—Consolidated Goldfields 8.m., b 18s 3d. Progress—lo am.. s 13s 6d. Boss Goldfields, Ltd. (costrib.)—lo am., b 7a 6d, g Sa 6d. Note.-The letter "b” signifies buyers and a ’ sellers. ™ INVESTMENT STOCK,

FRIDAY’S STOCK SALES. >KOM OUR OWN CORRESPONDENTS. FETLDINQ. The New Zealand Loan and Mercantile Agency Co., Ltd., report:—We had a good yarding of sheep, and a small entry of cattle. There was a fair inquiry for sheep, and a good clearance was effected. Wo quote: store wethers. Is 3d: forward wethers, to 11s 8d:. rape lambs, to 6s

7d; store cows, .£2 17s 6d; forward cows ; Jii 14s; fat cows, £-i.

Dalgety and Co., Ltd., report having a good entry of sheep. Quotations: Aged owes, 3.s lid to ss; mixed age ewes, Gs 7d to 7s yd; sound mouth ewes, So 7d; cull iambs, to ss; ra[>e lambs, Cs Gd, 7s to 7s sd; small woollv lambs, 6s lid; woolly rape lambs. S.s 7d; fat and forward lambs, 8s 9d. LLVIX. The New Zealand Loan and Mercantile Co., Ltd., report having a large yarding, while the attendance of buyers was good, and tho bidding brisk. They managed to clear nearly everything at the following rates:—Fat forward ewes, 9s sd; cull lambs, 3s 3d, -Is, is 8:1; small woolly ewe lambs, tis lid; gos-d woolly wetiier lambs, 8s; shorn rape lambs, 6s Bd. EKETAHUNA. ' Dalgety and Co., Ltd., report having had u goo<l yarding of both sheep and cattle. Cattle sold well at lato rates, but sheep were hard to quit. In most cases venders had to lower the reserves. They quote: aheep-, 2, -1, 6, aiKt f.m. ewes, to lis yd; f.m. ewes, Ss Id; woolly lambs (medium;, 7s 3d; rams, from ign. tj 2Us; cattle, enws and calves, JB3 15s; 2 to 2£ year steers, £'.i 7s Gd, £'i lis to Jfc'3 15s; fat and forward cows, £3 6s; forward cows, £2 lis; springers (good), .61 10s. The next sale will be held on Friday, February 11th. Abraham and Williams, Ltd., report as follows:—Sheep came forward up to advertised numbers, Uit tho sales now' being held weekly account for the yarding being smaller than those previously held during the last month. The attendant was satisfactory, but outside buyers conspicuous by their absence, and the, sale for sheep dragged somewhat at auction. On tho whole, however, we made a good clearance, only one vendor being compelled to take his sheep home. Cattle were well competed for, business at auction being animated. Young steers were particularly in demand. Quotations: Cattle, grown bullocks, ,£5 6s; 2i year steers, .£3 16s to £3 18s 6d; 2 year old steers, .£3 9a; empty heifers, ,£3 Is; store cows, ,£2; sheep, sound mouth, 8s to 9s sd; culls, 2,4, and 6 tooth ewes, 8s 2d; owes, with failing mouths. 4s 6d to 7a; 2-tooth owes, lis 8d; 2-tooth wethers, 10s 4d; shorn lambs, to 6s 2d; culls, 4s sd. APITI. The New Zealand Loan and Mercantile Agency Co., Ltd., report having a Bmall entry of cattle ami sheep, which sold at the following rates: —2-tooth. wethers, 103 9d; wether lambs, 6s 3d; forward ewes, 7s 9d; aged rams, 12s; small weancrs, 2Cs; weanor steers, 28s; yearling heifers, .£2 lis; 2-j-ear heifers, £3 7s 6d; 2J-year steers, £1 to £1 10s; 18-month steers (good), £3 10s; dairy cows, >£-l 4s. FRUIT AND PRODUCE. WELLINGTON MARKETS. Tho markets are now just commencing to recover their buoyancy after the inclement weather of the latter part of last wesk and the commencement of this week. Full supplies of all lines are Teaching the market, the greatest increase being manifest in pears, other lines having been in ample supply for some time past. Small quantities of pears from Australia continue to arrive, but as locally-grown a.ro now amply sufficient to meet tho demand, it i 9 not anticipated that further shipments will be made from that quarter this season. Apples of both the cooking and dessert varieties are very plentiful and nominal rates prevail. Peaches and plums still continue to arrive in large volume, but tho latter are likely to show an improvement next week. Nectarines and greengages, although a little weaker, are maintaining a good inquiry. Cape gooseberries and pears, being early on the market, are commanding satisfactory rates. The usual shipment of Fijian bananas arrived yesterday, but as looallygrown fruits of almost every variety are in plentiful supply tho demand for bananas was somewhat slack, particularly as a heavy cargo of Cook Islandgrown had been marketed only 60me days beforehand. Apples, choice dessert, 7s to 8s case; prime, Gs to 6s Dd; cookers, prime, 3s to 4s 3d case; inferior, 2s to 2s 9d; Cape gooseberries, 5d to 6d per lb; pears, choice dessert, 4s to 5s 6d half case; prime, 2s 6d to 3s 6d; stewing, 3s to 59 case; greengages, choice, 3s to 4s half case; prime, 2s 3d to 2s 9d; nectarines, choice, 3s 6d to 4s half caso; prime, Bs 6d to 3s; lemons (local), 5s to Gs case; grapes, 6d to Is lb according to conditionj peaches, choice, 2s 6d to 3s Gel half case; prime, 2s to 2s 3d; inferior. Is to Is Gd; plums, choice, 2s to 2s 6(1 half case; prime, Is to Is 6d, boxes, Is to 2s. POTATOES AND ONIONS. The wet weather of tho past week has been (responsible for keeping back supplies of potatoee, and the market, in addition to taking an advance early in tho week, again strengthened to the extent of snowing a 50 per cent, increase on last week's rates. Prices are, however, bound to drop immediately digging operations oan be recommenced. The wet weather unfortunately will • have the effect of bringing along the blight to a greater extent than it has so far made its appearance in those districts where it has been in evidence to only a slight extent. This will doubtless have "the effect later of making good tubers scarce and correspondingly advancing the price. It is of course far too early yet to forecast the trend of the market.. The demand for onions continues satisfactory, and tho wet weather has also prevented shipping operations in' this lino. The market ia unchanged at last rates-. So far very few picklers have been available and the demand, has not'been heavy. Potatoes, .prime, 8s to 10s owt; good, 6s to 7s 6d; onions, prime, .£7 to .£7 10s per ton; picklers, <£B to .£8 10s per ton. OTHER VEGETABLES. Tomatoes still continue to arrive in very heavy quantities, the Nelson district, aa usual, being .mainly responsible for the large volume being handled in | this city. Cauliflowers, carrots and cabbages continue short of the demand, and prices are consequently of'a satisfactory nature to growers. A good demand ia being met with for mushrooms. Cauliflowers-, choice, 7s to 9s eack; prime, 5s to 6s fid; cabbages, choice, 6s to 7s sack; prime, 4s to 5s 6d; lettuce, Is 6d to 2s case; tomatoes, choice, 3s 6d to 4s half oase; prime, 2s 6ct to 3s; cucumbers; 6d to Is 6d dozen according to size; marrows, Is to 2s sack; pumpkins, 4s to 6s sack; French beans, 3s 6d to 5s half sack; green peas, 6s Gd to 8s half sack; carrots, 6s to 7s Gd sack; turnips, 3s to 4s sack; broad beans, 3s 6d to 5s part sack. FRESH EGGS. . • This lino has been in short supply of late and the market has maintained tho advance which. 6et in early in the week. For best fresh Is 2d to Is 3d per dozen is ruling. POULTRY. Whilst a good inquiry is existing, heavy supplies are finding their way on tho local markets, and consequently values are not ruling unduly high. Hens, good heavy, 3s 3d to 3s 6d pair; medium, 2s Gd to 3s; roosters, good heavy, 4s 6d to ss; inferior, 3s Gd to 4s; ducks, 4s to 5s pair; turkeys, gobblers, 18s to 20s pair; .hens, 8s to 10s. WELLINGTON CUSTOMS. Tho Customs revenue and beer duty collected at Wellington during last week totalled respectively £11,593 5s 3d and £234 4s 9d. Saturday's Customs return amounted to £655 7s 7d.

■■■■ Variati on. 8»% Imperial Consols ..I 8117 a 4 % New South Wales ...107 6 0 BJ% Now South Wales .. OS 0 0 8 "J New South Wales .. 89 5 0 4 % Victorian .. .. 103 0. 0 7/0 loner 5/- higher 8G/- lower 15/- higher Unch»n;ed 4 % Queensland .. .. 11] lu « 01% Queensland .. .. 08 0 0 5 % Queensland .. .. a5 10 0 4 % Now Zealand' .. 105 10 0 14% Now Zealandf .. 98 10 0 8 % New Zealand! .. 87 0 0 84% West Australian .. 93 15 0 Unuha Uncha Uncha Uncha Uticba Uncha geil isetl igcd igeii igccl isefl 8 % II % We> Tas Taa Q2TJin^^HH)iJrwHI»2i3! igeii igod Ut III tere tore ■«■ ■■

Bayers. Seller,. Sales, £ s. , d. £ fl. Banks— National of N.Z., I/td. (oam rights) 6 3 0 6 4 0 — Now Zealand ... 9 11 0 _ financial— National Mort'ge, Iitd. (cum) ... 3 0 0 N.55. and R. Plate Land, Ltd. ... 1 15 6 Wol’n Invest T. A. Co., Ltd. ... — D 11 6 — Wel'n Ttust Loan, Ltd. (ex) 7 2 0 _ GAS— VTeVn. £10 (ex) ... — 17 15 0 _ Worn, new issue, (prem) — 3 0 0 — MANUrACTtmiNOWel'n Wool'n, ord. 3 2 3 3 3 6 ~ COAXrHikurangl 1 1 6 Taupiri — 0 19 6 — Westport — 6 6 0 — Westport-Stockt’n, Ltd 0 7 0 0 7 3 - Miscellaneous— D.X.C.. prof. ... 1 2 0 Kauri Timber, 15s paid 0 15 0 0 15 6 ' — Le.vland O’Brien, Timber 1 3 0 N.Z. Drug Go., Ltd, £2 2 7 0 Sharland and Co., Ltd, preference 1 1 6 - -