COMMERCIAL.

Oamaru Mail, Volume XXXVIII, Issue 10514, 23 July 1910, Page 6

COMMERCIAL.

HOME MARKETS. [By Electric Telegraph—Copyright ] (Per Press Association.) Received July 23, at 5.50 p.m. London, July 23. Dank of England returns: Gold coin, t-lO.I21.0U0: reserve, £31,233.000; proportion of reserve to liabilities, 51.10, in ci-rulation £23.415.000. public deposits t';',591,000, other deposits £-13,300,000, Government securities £17,372,000, other securities £30,353,000. The bank rate is 3 per cent. Short loans are quoted at 1:1 per cent. Three months' bills are discounted as follows: London, 2 1-10 per cent.: Paris, unquoted; Berlin, 3 per cent. Consols, £SI 17a 6d. Colonial Government stocks: —New Zealand 3's £B7 15s; Westralia 3i's £97 os, 3's £BB 2s 6d; other stock unchanged. Butter is quiet, colonial being quite: neglected, though nominally unchanged. Weddell's annual review says the quality of New Zealand butter was never so good as last year, though the Australian article did not improve, Queensland going steadily back. If the butters were graded on arrival here over 90 per cent, of New Zealand would be first grade, while of Victoria, -' New South Wales, and Queensland the percentage would be 76 and 50 per cent, respectively. Last season's average; prices were: Australian Ills 9d, New Zealand 115s sd. Cheese is steady. New Zealarid, colored, 545; white, 56s 6d to 575. ; ' Tin—Spot, £149 10s: three months, £l5O 12s 6d. ~'••-■'. ".•■".;. Lead, £l2 12s 6d. '.'■':■.■• :' Spelter, £22 ss. -• ■.■^.r Iron, 49s 2d. •.-...■' Sugar—German, 14s lid; first marks, 15s 9d. ■.'•"•'.-' •" : i At Bradford the wool market is cheerful, all sorts hardening. Fortysixes bring 16id, and the other sorts are unchanged in price. . v ' Received July 22, at 8.5 p.m. -London, July 221 The wheat markets are firm, but im.vers are active. Chicago September wheat is quoted at. 106 to 107-J- cents. Two Australian cargoes sold at 37s to 37s 3d respectively; 37s 6d is. asked for Australian off coast. A Westralian March shipment sold .at 26s 9d. For a New South Wales March shipment 36s Gd has been' paid; and for parcels of Victorian July-August shipment 38s 9d is asked.

Flour. —There is little inquiry, '■. the high prices checking • business. Australian on spot 275. Oats are quiet. La Plata August shipment 13s 41d. Wool—The sales included the Pmiga--tara clip, for which the top- price was lid and the average 9:}; Agala 16d and 15d; Titanga 16d and lojd.

CHRISTCHURCH MARKETS.

(Pek Pkess Association.) Christchureh, July 22.. ■ Cable messages show that Australian cargoes have advanced 2s 6d per quarter during the week, and a sale has boon made,at 37s (id as against 34s 9d last week. Th best oiler for New Zealand wheat is 33-=. which is equal to about 3s Id f.o.b. The prices asked by growers therefore preclude any purchasing for shipment as thei) ideas of v;> iuc.i liave gone up about 3d per bushel during the last fortnight. Though there is a good enquiry for wheat there is consequently no business doing. There is nothing fresh to report in oats, chaff,-or potatoes. Onions have advanced another 5s per ton, ns supplies are getting short, the season having been an earlier one than usual.

DUNEDIN MARKETS. (Otago Daily Times.) The market price has risen between 2d and 3d per bushel during the week, and farmers are asking even above tin's advance. Some sales have taken place at good prices, notably 3s 10-Jd for good velvet ex store, Studholme, and 3s 7d and 3s 6d for Tuscan and Hunters at country stations. Business, however, in the face of the rising market, has been a little cautious on the part of the millers, who are viewing the sudden rise with a critical eye. It is a matter of doubt whether £he Home advance will be confirmed in the approach of the new season's crop. One consequence of the increase is that inquiries have been set on foot from London for wheat, and it is possible that some of the inferior wheat may be despatched to/that market, especially as freights have been somewhat reduced. The high quality grain, however, is still altogether out of shippers' reach. The market closes with Duncdin prices (on trucks) at 3s Sd and 4s for red and white wheats respectively.

The tariff of the Flcurrnillers' Association for flour a-iid other lines is as follows: Flour—Sacks, £9 ss: 1001b. £9 los; 50!b bags, £10; 251b bags, £lO ss. Oatmeal. £ll 10s per ton. . Pearl barley, £l4 per ton. Bran, £3 los per to::. Pollard. £5 per,ton. The oat market remains in a quiet state. Freights Home have been reduced a little, but not to an extent to bring exportation within the scope of our prices. The London market seems well "supplied, the total imported since August 1 last to about the end of June being 6,101,400 quarters, against only 4,858,000 in the preceding year. Locally the demand remains quiet, and no alteration in price lias to bo recorded.

PROPERTY SALE. The well-known "Grange Hill" grazing property at Upper Pareora will be sold by auction as a going concern on Saturday next by Guinness and LeCren (Ltd.) at their Timaru land salerooms, on account of Mrs'C. M. Ormsby. The estate comprises 4152 acres of first-class grazing land, with convenient homestead, and all necessary buildings. The stock consists of the superior flock 2341 young" half and three-quarterbred sheep, nearly all ewes, 18 cattle, implements, plant, and furniture. Buyers will have a splendid opportunity of securing this ideal grazing property as a going concern, as it is a "walk in-walk out" sale, and everything in connection with the property is in excellent order.