FINANCIAL CABLES

New Zealand Times, Volume XXXVII, Issue 8367, 1 March 1913, Page 7

FINANCIAL CABLES

BANK AND STOCK EXCHANGE REPORTS. (Beoeived, Pehroairy 28, 9.10 p.m.) LONDON, February 28. BANK OF ENGLAND EETDBN. The Bank of England return issued for the week ended Wednesday. February 26th. is as under; Issue depaetmest . Note Issue £55,094,000 Gov. debt £11,015,0 00 Other securities 7,434,000 Gold .. 36,645,000 £55,094,000 £55,094,000 BAS KINO DKPAETMESr. Pronriebora' Gov.secur- . £14,553.000 ties .. £13,031,000 Public de- Other senosits .. 23,548,000 rarities.. 41,870,000 Other de • Notes' .. 27,388,000 . posits .. 41,667,000 Coin .. 1,059,000 Best. 7-day and other bills .. 8,681,00# ; £83,849,000 £83.349,000 The leading hems of the Bank of England return afford the following comparisons: This week. Last week. Last year £ £ £ Bunion .. 86,646,000 36,652,000 38,730,000 Reserve .. 28,455,000 28,374,000 30,532,000 NoWdrc'ii 27 708,000 27,’788,000 27,989,000 Desalts .. 66,215,000 61,216,000 66,401,000 Proportion of reserve to liabilities 43.61 46.32 45.97 CONSOia AND AUSTRALASIAN STOCKS. Current quotations for Consols and Australasian Government stocks, compared, with those of list week, end the corresponding period of lost year, are: — • ____ ■ ■ -

THE MONEY MARKET. The Bank of England diswmnt rate remains at 5 per cent., to which it was raised on October 17th. A year ago the rate was 31 per cent. The Bank of France rate is 4 per cent, (since October 17th), and that of the Imperial Bank of Germany 6 per cent, (since November Itth). The open market rate of discount for best three months bills is Is 3d lower at 4 13-1 G por cent; a year ago it was 3|. Short loons axe unchanged at 42 per

cent.; twelve months ago the quotation was 3j. , , . In Paris the open marker discount rate is unchanged at 3} per cent. (2r a year ago), while in Berlin it is os higher at 5-2 per cent. (4-i a year ago).

COMMERCIAL CABLES By Telegraph—Press Association —Copyright CEeoeived February 28, 9.10 p.m.) LONDON, February 28. GRAIN AND FLOOR. Wheat.—The market is inactive. 37s KHd has been asked fr Australian loading, 38s for February shipment, and 37s <3cl - lus been offered for March shipment. Anstralian wheat on the spot is in good demand at 41s per quarter of 49oltr—last price 40s Gd. New Zealand is practicady exhausted. Good long-berried, 38s 6d to 30s, . , . Flour.—The market is firm. Australian patent brands on the spot ex store, per sack of 2801 b, 28s —same as last quotation. 23s 6d has been offered for March shipment. . Oats. —In large supply. There is small demand, excepting for finest A grade Gartons, which are scarce at 25s (id to 26s per quarter. . , , ~ Beans. —The market is firm at 40s Go to els per quarter of 5041 b, ex store. Peas.—There is a better demand. Naples 39s to 41s. BUTTER. The market is firm. Choicest colonial is selling well; salted, lids to 11s, a few lots to 114 s; secondaries. 104 sto 108 s. Unsalted. 114 s to HCs, a few lots to 118 s. New Zealand salted, 116 s to 118 s; uiisalted, 118 sto 120 s, a few lots to 1225. Danish, 132 s 6d to 134 s 6d. ( CHEESE. The market is firm, but quiet. New Zealand white 60s 6d, and coloured 61s. SUGAR. German beet sugar, 88 per cent, net titre. Id more than last quotation at us 9d per cwt; first marks granulated, i.o.d. Hamburg, 3d more at 12s per cwt. BRADFORD WOOL. The market is quiet, and prices unchanged, viz., 64's, super, Wl common 60's, 28Jd; 56 s, Ad; s. —id» 46's, 171 d; 40's, IGld. PRICE OF METALS. Silver.—Bar silver is quoted at 27id per ounce standard. . Copper.—On the spot. -£G4 6s per ton (2s 6d lower); at three months, E 64 5s las lower). Tin.—On the spot, £215 ISe per ton—£2 15& lower; at three months, £209 Jos per ton —«£5 5s lower. Lead.—Soft foreign.ElG 6s 3d per ton Pig-iron.—Middlesbro' No. 3,61 asd per ton—7d lowei- / . . Spelter.—E2s 5s per ton—same as last quotation. AUSTRALIAN PRODUCE MARKETS. MELBOURNE, February 28. ■Wheat, 3s 81d; flour, £S 15s; bran and pollard, £5 15s; barley, English 3s 9d to 4s 6d, Cape 3s to 3s Sd: oats, milling, Algerian 2s 6d to 2s Gfcd, seed & lld to 2s 9d, feed 2s 2d to 2a 4Jd; potatoes, £A lOu to .£5 10s; onions, £6 15e to JB7,Ss. Dalgety and Co., Ltd., have received the following cabled information from London, dated 27th inst: , Frozen Meat. —Market very dull, hardly any business doing. Now Zealand lamb is id to id per lb lower. New Zealand mutton id per lb lower. Beef, prices are unchanged. Tallow.—There is very small demand for mutton tallow, any change in price is in favour of buyers. Other descriptions unchanged. ! LIVE STOCK SALES AUCTIONEERS’ REPORTS. Abraham and Williams, Ltd.

At the annual sheep fair on Thursday there was a total yarding of about 13.506 sbeep, of which we had 7100. There was a large attendance of buyers, but bidding was very slack, and vendors in most cases had to reduce their reserves. Wo quote: 2-tooth ewes (small) 9s lid to 10s, others 11s 9d to 12s, 4 and 6-tooth ewes Us to 12s, 4 and 5-yoar ewes 6e id, 8s 3d, 9s Gd, 9s 7d, 10a, 11s, Us Gd to 12s, lambs 7s 9d, 8s 6d to 9s 3d. The purebred Lincoln ewes offered on account of Mr J. Balsillie made from Ign to ligns. New Zealand Loan and Mercantile Agency Co., Ltd.

At the Palmerston North sheep fair on Thursday we yarded 4700 sheep. Bidding throughout was dull, and although we quitted the bulk of our entry, prices were in favour of purchasers in almost every case. Quotations: Cull lambs 2s 2d, 3s Id to 4s Id, woolly owe lambs 5s 6d to 5s lid, woolly wether lambs 4s Gd to So, better class woolly lambs 9s, shorn rape lambs Gs lid to Bs, cull ewes 4s Id, mixed age owes &s id. 4-year owes 10b 6d, 3-tooth owes 13s 6d, 15s 3d to 17s 6d. 4 and 6-tooth ewes 11s and up to 19s, stud 2-tooth Romney owes 11 gs, Romney rams 3gs, Southdown rams 2 to 2jjjs. On Wednesday we held a sale of stock, in conjunction with Dalgety and Co., on behalf of Messrs Howie and Didsbury, at Komako. There was a very small attendance of buyers and bidding dragged. Quotations: 4-tooth wethers 14s lOd, cull lambs 4s 6d to 4s 9d, cull ewes 6s Xld, rape lambs 7s sd, 4 and 5-year owes 12s. mi™d 2-tooth 8s 9d, 18-month steers £3 2s Gd, 2J-year steers £5 Os Gd, 2i)-month heifeis M 3s to £i 4s, springing cows £i, bull £3 ss. BUILDING SOCIETY The annual report of the Metropolitan Permanent Building and Investment Society congratulates members upon the satisfactory result of the year's operations. The directors recommend that the usual dividend at the rate of seven per cent, per annum be paid, and that a further sum of £750 be added to the reserve fund, which will then stand at ,£9OOO. The profits for the year (including a balance of E 338 3s 4d brought forward from last year) amount to 1i5067 13s 3d, less expenses account H5Bl 12s 3d, leaving a net profit of E 4986 Is, lep interim dividend and amount credited B shares •at 3i per cent, for six months ending August, 1912, E 1969 fis 2d, leaving a balance of X3OIG 14s lOd- which it is proposed to appropriate as follows:—To credit holders “B" investment shares at 3i per cent, for six months ending February 15th, 19X3, E 978 16s; to payment of dividend at 3j per cent, for six months ending February 15th, 1913, to holdere of “A" £lO shares, E 1050; to reserve fund, ,£750; to carry forward to next rear. £237 18s lOd. The retiring directors. Messrs Aitken and Hannay, offer themselves for re-election. WELLINGTON CUSTOMS The Customs revenue and beer duty received at Wellington during the past month totalled respectively .£,1,518 Itm 5d and J 81147 16s 9d, as against .£72,. 41 10s 5d and E 1134 0e 9d. the figures for February, 1912. Yesterday's Customs return amounted to .£21586 16s 6d.

Xast Stock. This week Last week Year £ (1. £ d. £ 5. d. 74 12 6 74 V 6 78 7 4% New Zealand • 09 10 u 99 0 0 104 10 8J%New Zeaiandt 3% New Zealand 4 90 80 0 0 0 0 90 SO 0 0 0 0 87 10 0 4% Now S. Wales 101 o 11 101 0 0 34% New S. Wales 96 0 0 96 0 0 97 34% 1030-jO 3% New S. Wales .0 84 0 0 0 0 90 84 0 0 0 87 0 0 4% Victoria .. HU) 0 (] 100 0 0 101 10 93 0 0 93 0 0 96 93 u 0 93 0 78 0 0 78 0 0 84 10 0 34% Sth. Australia 91 0 u 91 0 97 3% Stb Australia 0 I 0 4% Queensland ., iO'J 94 0 0 0 0 HiO 94 0 0[ 06 10 0 3% Queensland .. 78 9f) 0 0 0 0 78 90 0 0 0| 95 10 0 3% W. Australia 84 0 0 84 0 0) 8? 89 0 0 89 0 0 3% Tasmania ,. 83 0 0 83 0 85 0 •Interest payable in May and November. payable in January and July payable in April and October