FINANCIAL CABLES

New Zealand Times, Volume XXXVIII, Issue 8740, 23 May 1914, Page 2

FINANCIAL CABLES

BANK AND STOCK EXCHANGE EEPOETB. By Telegraph—Press Association—Copyright deceived May 22, 8.40 p.m.) - 1 LONDON. May 22. BANK OF ENGLAND EETUEN. The Bank of England return . issued for the week ended Wednesday, May 20th, is as under:— issue Department. Notes Gov. debt £11,015,000 issued -... £28,676,000 Other secNotes in uritice ... 7,434.000 reserve 23,974,000 Gold ... 343301,000 £52,650,000 £52,660,000 BANKING DEPARTMENT, Proprietors' . Gov. securcapital £14,553,000 ities £11,047,000 Public de- Other seoposita ... 19,509,000 ouritiee 39.891,000 Other de- Notea 23.974,C0j posits, ... 39,456,000 Coin —1,747,000 Best 7-day and other bills „.... 3.141,000 £76,659,000 £76,659.000 The leading items of the Bank of Eng land return afford the following compart eiotts: This Last Last week. week. year. £ £ £ Bullion 34,201,000 34.u64.000 36,248,000 Reserve 25,'/21,000 25,tw4,000 27.776,000 Note oirculait'n 28,676,000 28.703.000 28.38u.HK) Deposits 58,955,000 57.3»,0C0 54,666.000 Proportion. of reserve to liabilities 43.60 44.51 50.80 CONSOLS AND AUSTRALASIAN STOCKS Current Quotations for Consols and Aus-' tralasian Government stocks, compared with those of last week, and the corresponding period of last year are:—

The Bank of England discount rate, which was fixed at 5 per cent, on October 2nd, was lowered on January BU> to 4d. on January 22nd to 4. and on January 29th to 3 per cent. A year ago the rate was 4i per cent. The Bank of Trance rate of discount was on February 4th lowered from 4 per cent, to 3i; the rate of the Imperial Bank of Germany is a (reduced from ii on February 4th). The open market rate of discount in London for-best three month bills is is 3d"higher at 2 15-16 per cent.; a year ago it was 3f. Short loans axe 10s higher at 2j per cent.: . twelve months ago tho quotation was 31. In Paris the open market discount rate is 2s 6d higher at 2J per cent. (31 a

year ago); and iu Berlin it is 2s Gu lower at per cent, (5, a year ago). COMMERCIAL CABLES 8/ Telegraph—Press Association—Copyrigm (Received May 22, 8.30 p.m.) LONDON. May 22. GRAIN AND FLOUR. Wheat—The market is firm, with moderate inquiry at full prices, owing to unfavourable crop reports, and a rise on the American option market. _ Two cargoes of Australian sold at 37s 4)d. Australian on the spot is in small suppi.v, and is nominally quoted at 395. Hour.—There is a slightly better demand. Sales of May shipment were made at 25s 3d t-.i-f. Oats.—The market is steady. Some business has been done iu A grade gartons, May shipment, at 21s to 21s 6cl c.i.f. Beans.—The market is quiet. Old New Zealands, 34s 6d ex store. Peas.—The market is very firm; 47s c.i.f. was paid for f.a.q. New Zealand Maples, May shipment. BUTTER. The market is quiet, and prices unchanged. There is a slight hardening tendency owing to drought in England and on the Continent. Choicest colonial is very scarce. CHEESE. The market is dull. New Zealand, white 59s to 60s, coloured 6Cs to one; Australian, white 58s, coloured 595. BRADFORD WOOL. A good tone continues. The turnover is*very small. Sixty-fours 311 d; super, 30d; common 60’s, 29|d; 56’s, 24d; 50’s. 21d; 46’s, 17Jd; 40’e. 16 ] a d. SUGAR. German beet sugar, 88 per cent, net titre, is quoted’ at 9s 7d per cwt; first marks granulated, 11s 74d per owt f-o.b. Hamburg. PRICES OF METALS. , Silver.—Bar silver is quoted at 26 7-16 d per ounce standard. Copper.—On the spot, X 63 2s 6d per ton; at three months, X 63 15s; electrolytic, X'6s 10s. Tin. —On the spot, X 149 15s per ton; at three months, Xlsl 10s. Lead.—Soft foreign, XlB 15s per ton. Pig-iron .r-Middluebio’ No. 3,51 s per ton. Spelter—X2l 5s per ton. Dalgety and Co., Ltd., have been advised-' by cable from their London office as follows :—Frozen Meat —Lamb: Market firm. Any change in prices is in favour of sellers.' Mutton: Market firm but prices unchanged. Beef : Prices are from id! to id per lb higher, but there is a poor demand owing to hot weather. Tallow : For mutton prices are unchanged. Beef, good colour. 3d lower; medium and inferior descriptions 3d to 6d per cwt lower. VICTORIAN GRAIN AND PRODUCE. MELBOURNE, Hay 22. Wheat, 3s lid to 3s Hid; flour, X 9; bran, X 5 se; pollard, X 5 10s; barley, English malting 2s lid to 3s 3d, Cape 2s Id to 2s 3d; oats, Algerian Is 9d to Is lid; maize, 3s 81d to 3s 9d; potatoes, X2 10a to X 5; onions, X 6 15s. SOUTHERN GRAIN AND PRODUCE. CHRISTCHURCH, May 22. ' The grain market is still quiet, with very little business being done. Prices are unchanged. Operations in Australia are having a steadying effect on the market here. The potato market is unaltered, X 3 per ton at country stations being the ruling rate. Nothing is doing in oats, and late quotations stand. . Cowgrass has slightly declined' in price iu sympathy with low quotations from London. LIVE STOCK SALES AUCTIONEERS’ REPORTS. New Zealand Loan and Mercantile Agency Co., Ltd. ■ At FeUding yesterday we had good entries of both sheep and cattle. Owing to the rough! weather sheep were a trifle easier, but cattle were m strong demand and sold well. Quotations Inferior lambs 9s to 9s fid fair lambs 10s to 12s, good lambs to 13s lid’, 2 and l-tooth ewes in lamb 19s 7d, cull weaner calves 17s fid, medium weaner* 31s fid, good weaner steers X2 to X2 2s, good weaner heifers (Jersey cross) X2 7s fid, aged cows XC to X2 15s, yearling heifers X2 10s, heifers in calf X 3 15s, forward cows X 3 12s fid to X 4 Is, 20-month steers X 4 10s.

At Palmerston North on Thursday we had a fair yarding of both sheep and cattle, and quitted the bulk of the entry ai late rates. Quotations : —Fat and forward ewes 16s lOd, woolly ewe lambs He od, weaner steers 22s 6d, weaner heifers 22s 6d, yearling steers £2 Is, heifers r.w.b. £3 19s 6d, store eowg £3 10b, light fat cows £3 11s, cows in calf £4 IBs 6d bulls to £5. I ADDINGTON MARKETS, Press Association. CHRISTCHURCH. May 20. At the Addington live stock markets there were again large entries of fat stock and a good attendance. hat catrle sold at late rates, prime beef being very firm. Fat lambs were rather easier and store sheep sold a little better. Fat pigs sold as nice raef-s, except porkers, winen were somewhat weaker. Fat sheep showed a further firming in prices. Store Sheep.—Two-tooth wethers 14s 9d to 15s 6d, 4 and 6-tooth wethers 16s 4d to 18s 9d, 4 and 6-tootli haifbred wethers Ismail), 15gs, 2, 4 and 6-tootli wethers 16s 3d to 17s 7d, 2-tooth wethers (very small) 11s 4d to He 7d, merino wethers 11s 2d to 11s 3d, 2,4, 6 and 8-tooth ewes 19s lOd, ewes (mixed ages and classes) 15s lid, aged ewes 9s 6d to 10s 6d, cull ewes 6s Ulu', lambs (good) 13s 9d to 14s Id, fairly good Jambs 12s 6d to 13s 3d. medium to fair' lambs 10s 6d to Hs 3d, ewe lambs tiair) 14a 9d to 15s 3d, small ewe lambs 13s sd. Fat Lambs.—The average value was about 6Jd per lb over ail, as compared with 6(d last week. Prices are :—Tegs 19s 6d to 23s lOd, average weights 17s 6d to 19s, light and unfinished l 14s 3d to 17s. Fat Sheep.—Extra prime wethers to 29s Gd, prime wethers 21s to 265. other wethers 15s to 21s, extra prime merino wethers to 25s 3d, extra prime ewes to 24s 4d, prime ewes 18s to 235, aged and light ewes 12s 6d to 14s 9d, medium owes 15s to 17s 6d, Fat Cattle.—Steers £7 17s 6d to £ll 10s, extra good steers to £l6, heifers £5 17s Gd to £B, extra good heifers to £lO 7s 6d, cows £5 to £7, extra good cows to £l2 los. Store Cattle.—Fifteen to 18-month sorts £2 15s, 2-year steers £3 9s to £4. 2-year heifers £3 5s to- £3 17s Gd. 3-year steers £5 17s 6d; cows, £1 to £5 15s. Dairy cows made £3 10s to £l3 10s. Fat Pigs.—Ordinary choppers £3 10s to £5 10s. ordinary baconers 4Ss to 555, heavy baconers 57s 6d to 65e. extra heavy baconers to 68s; price per lb 5d to old"; ordinary porkers 3Ss to 425, heavy porkers 44s to 475; price per lb 6d. Store Pigs.—Best stores 30s to 3Ss, medium stores 23s to 295, small stores 18s to 21s, wcanoes Ss Gd to 14s. sows in pig to £4 ss. WELLINGTON CUSTOMS. The Customs revenue received at Wellington yesterday totalled £1843 Is Hd.

Stock. This week Last week Year. £ d. £ d. £ d Zi% Imperial C'ls 74 100 12 0 6 0 74 100 17 0 6 0 74 101 iv c Sp/oNew Zealand] 92 82 U 0 0 0 92 82 0 0 0 00 78 0 0 u 0 103 0 0 103 0 102 0 0 */%Newk Wale. 1UJ 0 0 iOu 0 t‘ 07 0 0 s{£ 1930-50 92 0 0 92 0 9J u 0 86 0 u 86 0 82 0 0 102 u 0 102 u 0 101 0 0 93 0 - 0 0 3l% 1939-49 3% Victoria .. 90 0 0 90 0 91 0 u 81 0 8 81 0 0 79 0 u 93 0 91 0 0 75 0 0 102 0 0102 lul 0 0 97 0 " 97 0 95 0 0 81 0 0: si 78 0 92 88 0 87 0 92 0 u 92 0 90 u u S'&'Tasmanxa 82 u 0 82 0 S3 0 0 iu May and November. in January and T nly. Untereat payaulo ID Annl and October. THE MONKS’ MARKET.