FINANCIAL CABLES

New Zealand Times, Volume XXXVIII, Issue 8734, 16 May 1914, Page 2

FINANCIAL CABLES

BANK AND STOCK EXCHANGE REPORTS, By Telegraph—Press Association—Copyright (Received May 15, 9.20 pjn.) LONDON, May 15. BANK OP ENGLAND RETURN. The Bank of England return issued for the week ended Wednesday, May 13th, is as under; — ISSUE depabtment.

CONSOLS ANT) AUSTRALASIAN STOCKS. Current Quotations lor Consols and Australasian Government stocks, compared with those of last week, and the oorrescondine period of last roar are:—

'lnterest payable in May and November. (-Interest payable in January and T nly. .Interest payable in April and October. THE MONET MARKET. The Bank of England discount rate, which was fixed at 0 per cent, on October 2nd, was lowered on January Bth to 4J. on January 22nd to 4, and on January 29th to 3 per cent, A year ago the rate was -4| per cent. The Bank of I'ranee rate of discount was on February 4th lowered from 4 per cent, to 3J; the rats of the Imperial Bank of Germany is 4 (reduced from 4£ on February 4th). The open market rate of discount in London for best three month bills Is 5s higher at 2i- per cent.; a year ago it was 3j- Short loans are 10s higher at 2‘ ]>er cent.; twelve months ago the quotation was -IIn Paris the open market discount rate is unchanged at 2 V per cent. (3) a rear ago): and in Berlin it is 7s 6d liigher at 2i per cent. (5) a year ago).

COMMERCIAL CABLES By Telegraph — Press Association —Copyrlgb* (Received May 15. 10 p.m.) LONDON, May 15. GRAIN AND FLOUR. Wheat—The market is quiet. Australian. on the spot, 38s 6d. Flour—The market is steady. Australian patents. 26s Gd. Oats —The market is firm. La Plata. June-1 uly shipment, 15s 9d. Peas and Beans—Market firm, but quiet. BUTTER. The market is quiet and prices are unchanged. There is a good demand for choicest colonials. Few are offering. Secondaries are neglected, Danish, 112 a to 113 s. CHEESE. The market is dull. New Zealand, white 60s to 60s Gd. coloured 635. BRADFORD WOOL. 'There is more inquiry. Sixty-fours Slid; super, 30d ; common GO*s, 29id; sG’s, 24d; 50’s, 21(1; 46’s. 17'cl; 40’s 161 d. SUGAR. German beet sugar, 88 > per cent, net litre, is quoted at 9s 4jd* per cwt; first marks granulated, 11s sid per cwt f.o.b. Hamburg. PRICES OF METALS. Copper—On the spot, £G2 17s 6d per ton; at three months, X 63 10s. Tin—On tho spot, X 154 5s per ton; at three months. ,£156. Pig-iron—Middlesbro No. 3,51 s7d per ton. Spelter —£2l 5s per ton. Load imports total 23,041 tons, and exports 4422 tonsLONDON WOOL SALES.

tic Telegraph — Press Association —Copyright LONDON, May 14. At the wool sales there was animated competition P'rices for crossbreds were harder, but for merinos unchanged. . . , . Tho following procos were realised for tho fleece portions of tho clips named : “Rangatua,” top price T2Jd. average lOiJd; "Aildunio,” 14d and 12jd; “Langley, 14d and 13|d; “Back-shaven,’’ 12d and 10'id; “Pukenui,” lid and 10 Jd. LONDON. May 15. At the wool sales the following prices wore' realised for the fleeoe portions of the New Zealand clips named Tunanui, lop price 12kl, average Hid: Wakarua, 13d, 11 Jd; Tiratu. 12jd, IOJ-d; Taradale. lid, Ifrld; Kaputene, 21d, 193-d,; Olrig. 13d, Hid. ggEEpgKiNS,

At the sales 4500 bales were offered and sold. There Was a largo attendance and keen competition. New Zealand crossbred. combings -id dearer.

Murray, Roberts and Co., Ltd., bare received'the following cablegram, dated 14tb Lost., from London; —Wool market firm. Sheepskins have advanced id to id per lb. The New Zealand Loan and Mercantile Agencv Company. Limited, has received the following cablegram from London dated May 14th:—Merino sheepskins nave advanced Jd, and crossbreds Id per lo sin'ce last tales. Dalgctv and Co.. Ltd., hare received •cabled information from their London office, reading as follows;—Wool I’ho wool sales continue animated, but prices for fine greasy wools, especially N-Z. irreasy merino wools, are scarcely maintained. Sheepskins—As. compared with Inst sales, merino combing skins are fd to Id' per lb higher. Merino clothing id. to Id lugher and crossbred combing elans Ja higher. Frozen meat —Lamb ; Prices are Id to id per lb higher. Mutton; Prices are par to id per lb higher, ■ The market is firm, and is expected to advance for both mutton and lamb. Beef: Market unchanged, hut expected owing to large shipments of chilled. Tallow—The market is unchanged.

VICTORIAN GRAIN AND PRODUCE

9/ Telegraph—Prest Association —Copyright > MELBOURNE, May 15. ' Wheat. 3s 10)d; flour, .£9; oats, Algerian. Is 8d to Is lid; barley, malting English 3s lid to 3s 3d, Cape 2s Id to 2s 3d; maize, 3s 9d; bran, Jls ss; pollard, Jls 10a; potatoes, to £4 ss; onions, £5 153.

BUTTER IN COOL STORE.

The folio-wins figures dhow the quantity of butter in cool store at the various ports throughout the Dominion on May 15th, 1914 Boses. Auckland —•—■ 32>757 New Plymouth • 13,030 Pa-tea Wanganui r,i’ b /n% Wellington —— Lyttelton 4,208 Dunedin —— Total - Total on May 15th, 1913 69,814 Total on May 15th. 1913 60,115 southern grain and produce. Press Association. CHRISTCHURCH, May 15. The wheat market remains quiet but firm especially for Hunter’s and pearl, there not being quite so much inquiry for Tuscan. There is very little gram offering and sales are few at present. There is no .change in oats, the mar-’-et being, however, rather weaker, though, prices remain without alteration. Malting barley is very dull of sale, there being no demand whatever at present, and it is difficult to say what the real value is. ‘ The potato market has further weakened and buyers are now giving only .£3 at’ country Rations, and they are not keen, to make purchases even at that figure, though a pood deal of business has been done during the week on that basis. .

Notes Gov. debt £11,015,000 issued ... £28,703,000 Other secNotes in uritica ... 7.434.000 reserve 23,810,000 Gold 34.064,000 £52,513.000 £52,513,000 BANKING DEBASEMENT. Proprietors' Gov. secur- , capital £14,553,000 aties £11,047,000 Public do* Other secposits ... 18,611,000 curities 38.457,000 Other do* Notes 23,810,000 •posits ... 38,774,000 Uoin 1,694,000 Best 7-day and other Viu)1a 3,(170,000 £75.008,000 £75,008,000 The leading items of the Bank of Eng^ land return . afford the following compart 6 ions; This Last Last week... week. year. £ £ ■ £ Bullion 34,064,000 34,253,000 34,949,000 Bcservo 25,604,000 25583,000 26,211,000 Note cirouiat’n 28,703,000 28,808,000 28,601,000 Deposits 57,385,000 57,789,000 52J.45,000 Proportion of roeerro to liabilitios .. ♦4.51 4s,26 5a25

StQck. This week Last week Last Year. £ , d. £ i. d. £ d 21% Imperial C’ls ?4 17 0 74 Vo 0 vi. 6 0 4°,n New Zealand • 100 0 c 100 0 101 0 Si%New Zealandt 92 0 t) 92 0 0 90 0 0 S% New Zealand J 82 0 t 82 0 0 78 0 0 4% New 3. Wales 1U8 0 11 103 0 0 102 0 0 Si% New 3. Wales 109 0 1) 1U0 0 e «; 0 0 Si% .. 1030-50 92 0 0 92 9 0 90 u 0 85 u 0 8.5 0 ■ 0 82 0 0 4% Victoria 102 0 0 1D2 0 0 11U 0 0 90 u (J 90 0 0 95 0 0 34% .. 1929-49 90 0 0 00 0 0 91 0 0 81 0 u HI 0 0 79 0 0 Si% Sth. Australia 98 0 0 98 0 0 91 0 0 8% Sth Australia n 0 u 74 0 0 u 0 4% Queensland ,. 102 0 0 101 0 0 101 0 0 3l% Queensland 97 0 n 97 0 0 95 0 u 3% Queensland .. 81 0 0 81 u 78 0 u 3i% W. Australia 92 0 0 92 0 0 88 u 0 3% W. Australia 87 0 0 87 u 0 82 0 0 Si % Tasmania .. 92 0 o 92 u 0 90 0 u 8% Tasmania ., 82 0 0 82 0 0 88 0 0