COMMERCIAL.

Oamaru Mail, Volume XXXVII, Issue 10243, 4 September 1909, Page 1

COMMERCIAL.

' HOME MARKETS. [By Electric Telegraph—Copyright.] (Per Press Association.) Received September 4, at 11.30 a.m. London, September 3'. Bank of England returns show that the gold coin amounts to £38,704,000; reserve, proportion of reserve to liabilities, 52.25; in circulation, £29,718,000; public deposits, £8,961,000; other deposits, £46,472,000; Government securities, £15,328,000; other securities, £29,328,000. Three months' bills are discounted at Is per cent; short loans, } per cent. The bank rate of interest is 24 per cent. Consols are quoted at 84 1-16. New South Wales, 4's, 1072; 34's, 985; 3's, 864. Adelaide—34's, 99; 3's, 84J. Queensland—4's, l04i; 3A's, 97:1; 3's, 862. New Zealand—4's, 107; 34's, 984 ; 3's, 562. Tasmanian—34's, 100; 3's, 87. South Australian—34's, 99; 3's, 89. The wheat market is dull, despite the unfavorable harvest weather, and owing to the pressure' by farmers in America, Canada, and especially Russia, to sell new wheat. There is little demand for cargoes. Australian, off the coast, is offering at 425; aft'oat, 41s 6d to 425; September-October shipment, 40s 6d; new crop, DecemberJanuary, 38s. Spot is quiet at 43s 6d to 44s 6d. Flour is dull at about late rates. The high price asked for shipment (32s c.i.f) prohibits business. There is a steadier tone in oats, and La Piatas afloat are quoted at 15s 9d. Copper—Spot, £59 7s '6d; three months, £6O os. Lead—£l2 12s Od. At Bradford wool is firm and brisk. Forty-sixes, 15d; forties, 13d. Butter is steady and unchanged, with no business in colonial- either on the spot or to arrive, as buyers are disinclined to make forward contracts, considering it too risky in view of the present high values and the absence of any reliable, information regarding the probable output. CLEARING SALE. The North Otago Farmers' Co-opera-tive Association, Ltd., in conjunction with Messrs J. D. Familton and Sons, report having held a most successful clearing sale on account of Mr G. H. Miller. Windsor, on his farm, when everything was cleared at very satisfactory prices. The^..attendance was ex-, cellent, notwithstanding the wet day, and everything that was differed elicited keen competition, especially the horses, which brought top values. Sheep.—46 wethers 15s, 60 hoggets 10s 6d, 50 4, 6, and 8-tooth ewes 14s Id, 49 failing-mouth ewes 10s, IS4 fail-ing-mouth ewes os 6d. Cattle.—l cow £7, 2 heifers £6 Is, 2 heifers £4 10s, 7 bullocks £5 17s Od. Horses.—Bav mare Bonnie £l4 10s, bay filly May £37, bay mare Mag £2B, chestnut gelding (4vrs) £47, bay gelding (aged) £33 10s, bav gelding (aged) £3O. bav gelding " (aged) £36, 2-vear-okl 'cold £2O 10s, 1-vear-old fillv £2O 10s, yearling foal £lO 10s. Implements.—Dray and frame £l7 10s, dray and frame £lO 10s, cultivator £ls os, set harrows £3 12s, d.f.. plough £7 10s, drill plough £6, disc plough £6 ss, grain drill £7. Harness' and sundries brought top values. LAND SALE. A land sale which is not without its interest in North Otago and South Canterbury has just been concluded in the Southland district, the Messrs Borrie, of Waimate and Studholme, having acquired the farm at Riversdale being portion of the estate of. the late Mr Wilson Hall. The property, which contains some of the finest wheat-growing land in Southland, comrnises 2800 acres of freehold and 260 and odd acres of leasehold land. The price, we understand, was a satisfactory one, and the sale was negotiated by Messrs Wright, Stephenson, and Co.- and Mr W. H. Paterson (of Oamaru) as trustee. STUDHOLME JUNCTION SALE. Messrs Guinness and LeCren, Ltd., report that at this sale yesterday there was a yarding of 200 head of cattle and 3000 sheep. Although prices were on a par with recent sales the enquiry seemed much better and some buyers for young ewes went away unsatisfied. The following are prices obtained: — Sheep.—Fat wethers 13s lOd, 14s, 14s 4d; fat ewes 9s 6d, 10s, 10s lOd, lis; 2 and 4-tooth ewes 15s od; 6-tooth ewes 14s 2d; s.m. halfbred ewes 15s 8d; 6 and 8-tooth ewes 14s 8d; failing mouth ewes 9s, 9s 6d, 10s 3d; hoggets, mixed sexes, 10s 7d; ewe hoggets 10s 6d to 14s 2d; 2 and 4-tooth wethers 13s 8d; wether hoggets 9s Id to 10s; cull do. 6s Id. wetherss.mi,yonucegi shrdl shr shrdlu Cattle—Yearlings 20s to 30s; 15 mouths to 18-months 37s 6d, £2 to £2 10s; 2-year steers and heifers, £3 to' £3 los; springers £4, £4 2s, £4 10s, £5 os, £6, £6 fat cow £8; fat steers £6 10s to £7. DUNEDIN MARKETS. (Otago Daily Times.) No animation is yet apparent in the local wheat position, and in the almost total absence of business nominal rates obtain. The New South Wales market contains a lesson to holders in New Zealand, though there certainly is a stronger position locally than obtained there, owing to the, further distance of harvest time and the absence of possibilit3 r of competition from other than local sources. .It almost appears as though locally top price had • been reached and passed, and those holders who continued their previous policy of keeping a few pence above offers will perhaps have to accept a lower figure before the old crop is eased completely. On the other hand, it is possible that once the London market finds its level under the new crop condtiiori —and if 'that level in face of the strong statistical position of the world proves fairly high—a strengthening influence' may become apparent in'the local market, so that if millers are forced to buy to any extent holders' anticipations may yet be justified. •■The Association's tariff,for flour is: Sacks, £lO 15s; 100's, £11; 50V £ll 10s; 25's, £ll 15s. The shipping price is £lO 10s f.o.b.j and the Invercargill price is £ll. Pollard £4 per ton", both f.o.b; and locally; bran, £3 5s locally, and £3, per. ton f.o.b. ✓ Oats remain dull, and although there are lines oh offer. sales are practical 1 ?, non-existent. Nominal prices remain, therefore, at about Is lOd for A grade Gartons, Is 9d fprß's, and about Is i BJd for B grade sparrowbills—all f.0.b., s.i.' ■ r . •Oatme'il remains : t £lO 10s per ton, ' j and pe.trl barley at £44 10b. ,