COMMERCIAL.

Oamaru Mail, Volume XXXVIII, Issue 10598, 29 October 1910, Page 1

COMMERCIAL.

[By Electric Telegraph—Copyright.] (Peu Press Association.) . ■"- .HOME MARKETS. Received October 2S, at 9.10 p.m. ; ,ij'" ">;; 1-" , ,'. London, October 28. ► , .The''"Uuttcr"'market is demoralised. )Da!iiishxQ4s to~ll6s, choicest Australian salted' 106s 'to exceptionally good JJQSiSurisaljbe'd (scarce; 11 "is, oceasional]y 1 ..116s. l \" Secondaries" are 'quife neglgcted,: J and.nre nominally 100s to 104s; choicestTNcw Zealand] salted 112s. The mild Aveather prevailing in Euiopo is prolonging, the supplies. The wheat market is fairly steady. There'is~n'o pressure to sell, and buyers ere only filling immediate requirements. 'For South "Australian October-Novem-ber shipments 36s 9d is asked, and 36s at three ports for December-January shipments; 365. 9d for New South "Wales steamer parcels afloat, and. 34s 3d has been paid for a near Australian parcel. There is small enquiry for Australian spot at 37s to 37s 9d and 38s. Flour is inactive. Australian patents s.oll at 26s 9d to 275. Oats —La Plata, November-Decombei shipment, 335.

'Received October 28, at 5.55 p.m. London, October 28. Bank of England returns: Gold coin, £29,978,000, reserve '£22,018,000, proportion of reserve to'liabilities 46.11, in ciiculation £27,751,000, public deposits £7,174,000, other*deposits £40,544,000, Government securities £14,981,000, other securities, £28,443,000. Three' months' bills are quoted as follows: London, 4 11-16 per cent.; Berlin, 4jj per cent. Short loans are discounted at 4; per cent. The bank rate is 5 per cent. Consols are unchanged. Colonial Government .stocks: —Victorian, 3's £BS 10s;'New Zealand, 3's £B3 17s 6d. f Other stocks aie unchanged. Copper—Spot, £s6' 13s 9d; three months, £57 15s : electrolytic,' £59. Tin —Spot, £165; -tlnec months, £167.

'Lead, £l3 Gs 3d. lion, 49s lid. - ' ' Sugar—German. 8s lOd; first maiks, lis 2d ' At Bradford wool brings the following prices. 64's 28Jd, super 60's' 28d,'common 60's 27d, 56's 22] d, 50's 194 d, 46's 15-fd, 40's 1-ld. Merinos", for future deliver;!, are' IUI lower''

CT[RIRTCHtJ«OH M'ARKF/J'S

ClnislchurcH, October 28. 1 Business 'in connection with all j blanches of the grain and pioduco tiade j-is exceptionally quiet. Second quality wheat is changing hands for shipment Jiy the next steamer for AVest of Engiland po-i'ts. 'flio outside pntv lor jprime wheat is now about 3s at .stations.

Oats arc verv firm, but none are oifeiing; in fact enquiries have been made by J armors for, oats for feeding sheep, in consequence jof the continued dry weather. Chaff is also firm .and scarce for tho same icason, and is now up to 70s per ton at country stations. Potatoes are worth from.£9 to £0 10s per ton at country stations, and supplies are scarce.

■ TIMARU MARKETS. (TJmaru. Herald.) In South Canterbury there is an absence of any: activity .in the grain business, and farmers still seem very chary about selling at - the present prices. There is practically no enquiry for milling wheat, and very little is doing in sprouted grain, which is worth 2s Bd~ to 2s lid at country stations. These quotations are made by merchants with a -view to shipments bv the Kaikoura, which is expected to lift 10,000 sacks at this port on November 4th, and will, so present advices state, be the last vessel shipping at the cheap rate of freight. __ For good milling lilies Tuscan and Hunters are worth 3s 6d, and velvet 4s f.0.b., sacks extra. Fowl wheat is quoted at 2s lid to 3s, f.0.b., sacks' in. Oats are getting into very small compass, and there is practically only an enquiry for local., requirements; Gartons are quoted at 2s to 2s Id, and Duns at 2s to 2s 3d, according to quality. -_ . Potatoes are steadily rising in price, and are selling at £9 a ton, f.0.b., sacks in. There is a scarcity in South Canterbury.

DUNEDIN MIRKETS.(Otago 'Daily Times.) So" far as Dunedin'aiid New Zealand kenerallj aie concerned there is piactically 'nothing at all to record save an absolute absence of business. The millcrs;' a\ before advised, liave kept ahead of 'the market, and-aie not pacing any materia,], attention to buying at the moment Milling business itself is not brisk at present, and the whole position ssenis'somewhat stagnant. It is doubtful if last week's prices could be maintained at the close of this week, but in the total absence ol sales whereby to judge that must be a moot point. NominaTh values may be/put at 3s 2d to 3s 3d on trucks for red wheat, and 3s 7d tp 3s 8d for velvet. In town good lines of jed wheat offered at 3s 6d weie not looked at. The tanff of the Flourmfilers' Association for flour and other lines is as roltov.s. Flour. Sacks, £9 os; 1001b bags, £9 15s; 501b bags, £10; 251b bags, £lO ss. Oatmeal, £ll 10s per ton. Peail barley, £l3 10s per ton. Bran, £4 10s per ton. Pollaid, £5 per ton., The oats position has become, if anything, a little quieter than was the case last week, which in turn was duller than the boom time of the previous seven days. In some quarters the demand is said to be lhiich qiiietci, and this is the general feeling, though one merchant icpoits a fair number of small oideis from the North Island. In no quarter, however, is there any tendency to load up w.itn. stocks—which indeed cannot' bo procured—and meichants ajo not inclined ''to view the lutuie optimistically fipm the holdci's point of view. Farmers, however, are in a, contiary position, and remain as nxed. as evei, and talk.glibly 0f.,2s on trucks As a warranty .for this position it is difficult to advance anything. Certainly the season has so.far been somewhat diy, but-there is tho posiibihtj—oven the probability—tjiat this will not last. Sonie' sales" have taken place dining the'week, one oh the gest being loi 2150 sacks of A giade spauowbufls in the, Goie district at Is 9Jd on trucks _ This is 'an excellent puce for the grower. A little purchasing has been done b.j millers for their lequirements Quotations may be put at 2s lid to 2s 2d for A grade Gartons, 2s 1(1 to 2s lid for B grade, and 2s Id for B giade sparrowbills —these showing a sligirt firjnness on last week. Farmers are eyen firmer holders than befoie, and business is m a very stiaitened condition as regards any ]arge quantity going through. It was found neoessaij during the week to raise the price of bian, for which there has been a keen demand. Stocks have been light for some time, and some millers are finding to their iegret thai %he\ sold too soon at prices about half those at present reigning. The present puce is £1 10s per ton (Association price-list) Shipping business is being done on an open basis.