COMMERCIAL.

Oamaru Mail, Volume XXXIX, Issue 10765, 13 May 1911, Page 6

COMMERCIAL.

HOME MARKETS

liv Electric Telegraph—Copyright.]

(Pep. Press Association.) iUceived May 12. at 9.15 p.m. London, May i_

Bank oi Knidand returns: Stock ol Hold and coin iISO.fWJ.UK;. reserve

i.'27.'2!)3.*.">). proportion of reserve to liabilities ■")'). (jl, in circulation i;-j>.ls<.(iiili. public, ijtlit-r deposits £39.SOi ,00i.), Government -.•cnritic.s £14.971.0U0. otiier .securities i.-29.3.j5,ij0().

Tilt, bank rate is 3 per cent. Short loan-; are discounted at TV per ■ent. - .

Three months' bills are quoted as follows: London 2} per cent., Paris 2 per cent., Berlin 2;J per cent. Consols, £Bl 12s 6d. Colonial Government stocks :_ New South Wales, 3.'.'s £95); Victorian, 4's £lO3 10s; Queensland, 4's £104; West Australian, 3i's £97, 3's £B6 10s. Other stocks unchanged. Copper.—On.' spot, £53 10s; three months, £54 Is 3d; electrolytic, £56 ss. Tin.—On spot, £195 10s; three months, £lB9 10s. Iron, -Jos lid. Sugar.—German, 10s 7d; first marks, 12i 3d. At Bradford the tono of tho wool market is firmer, but. prices arc unchanged. The wheat market closes a shade easier owing to the decline of the American market and to the better weather reports. The strong Continental demand continues, with Home and British" speculation, thus rendering a serious relapse improbable, although the European crop outlook is favorable. Holders are asking : 3ss 6d for South Australian, per ' steamers, January shipment, and 35s 3d for New.South Wales, April shipment. An Australian cargo .sold.at 35s 3id, and two others at 35s 3d. There is an demand for Australian on spot at 37s to 37s lid.. .

Klour.is more active. South Australian and Victorian,. May shipment, c.i.f., 23s 6d to 23s 9d. There is slow demand for spot at 24s 6d to 255. Oats are firm, the high prices restricting sales. Gartons 225", sparrowbills 19s (id" to 21s fid; La Plata, May-June shipment, 14s 9d.

Beans arc in small supply. On spot, 35s to 365. ...."..

Butter is quiet. Danish is unchanged. The few choicest colonials arriving sell readily. Australian (salted) 96s to 98s, occasionally 100s, (unsalted) 3025, and a few lots 104s; New Zealand 104s to 106s, unsalted 108s. Secondaries are neglected. The European supplies are increasing rapidly. Cheese 5s steady. New Zealand colored is in better demand at 625. deceived May 13, at 8.55 a.m. London, May 12. Wheat —Now Zealand (new crop) 35s L*i'; old, from 34s to 34s 6d. kvool—Tho following are the prices realised'for "fleece portion of the clips named: Totara, top lOd, average t) o-Sd; Annedalo, ll.Jd to 10id; W.D., iLid to lljd. Lead— Imports, 14,907; exports, -3797.

CHRLSTCHURCH MARKETS.

(Per Press Association.) Christchurch, Tuay 12.

There has been some activity in the local wheat market' during the past few days, a considerable, quantity..changing hands between merchants up to 3s. 6a i.o.b. The Timaru market is reported ;.j have advanced to a similar extent. There is still little wheat offering by iarmer.s, those who are still holding being evidently satisfied to wait for further developments in the market. Oats and chaff aro firm, and the only business doing is for local requirements, as prices for both commodities are above shipping level. Potato buyers are still holding off the market in consequence of the northern outlets being blocked with supplies. The nominal quotations are 65s to 70s. Growers,-however, are not willing to accept less than the higher figure, and few will even sell at that price. DUNEDIN MARKETS. (Otago Daily Times.) Tuscan, velvet ear, and velvet sorts have been sold at 3s 6d, ex store. Reports from the Oamaru and Waimate districts intimate a good inquiry for wheat, and sales have taken place there at 3s -Id to 3s 4id for red sorts, and 3s od for velvet, on trucks. In the south sales are reported at 3s 4d Balclutha, apd 3s 3d in the Riversdale districts; hut it is generally considered that there is now very little unsold uhiat south of Clinton. The tariff of the i'Tourmillers' Association for flour and other lines is as follows:—Flour—Sacks, £S 15s; 1001b bags, £9 ss; 501b-bags £9 10s; 251b hags. £9 15s. Oatmeal, £l2 10s per ton. Pearl barley, £l3 10s per ton. Bran, £4 15s per ton. Pollard, £6 per ton. There is a strong demand for bran and pollard, with very light stocks in millers' hands.

Farmers are. holding on firmly to their oats, and as a result merchants having t" fulfil immediate orders have had to increase their offers hy id. There is only the North Island demand for export, and buyers there are not responding too readily to the increase in prices. Nevertheless, a fair amount of i:ats is finding its .way to the North Island, but some of these parcels were picked up at slightly lower figures than those now ruling. Current values are: 2s 5.1 d for A Cartons, f.0.b., s.i., and 2s od for A sparrowbills. Merchants are now asking 2s 53d to 2s 6d, f.0.b., s.i., for A Cartons for June shipment. Consignments of chaff are freely coming to hand, and as most merchants are fully stocked for some time to come, a good deal is going into store. There is not much shipping demand, and what there is is confined to prime lots. A quantity of pressed chaff has been brought in from Melbourne for the Auckland market, but the increase in price in Australia should put a bit of a check on this importation. A fortnight ago the price in Geelong was given at £3 5s per ton, but values there have now been advanced to £3 12s 6d and £3 15s. The quotation of £3 los, plus £2 extra for freight, duty, etc. should restrict North Island operaLions somewhat in the imported article. The shipping demand for potatoes has ceased, and as large consignments are still coming to hand, prices have eased. I'ioth oaten and wheaten straw is in prime request. \ good demand exists for onions, and *lu> market shows an upward tendency. Supplies of eggs are not equal to the demand, which is very keen for all lots coming forward. TIMARU. MARKETS. (Tiinaru Herald.) Farmers and others wlio hold wheat arc jubilant over- the turn which the market has taken. To-day it is worth ?,?. 4 Id on trucks, Timaru, or 3s- 6d, i".0.b., through store. There is no shortage of wheat, and the advance in price is due to the upward tendency of the London market. Three weeks ago Australian cargoes were selling, at 33s fid in London, while'to-day's cable's der note that they selling at 3os 6d, which is equalto'a rise of'3d per bushel.' New Zealand-grown wheat, although bigger than Australian wheat, is coarser in the skin and is not so hard. It therefore costs more to work, and the scientific miller takes this _ into' consideration, and buys accordingly. A good many farmers' are accepting the 3s 6d now "offering on the principle that it is wise to accept a good' price when it is offered. Others believe that it will go still higher ', and are holding. There is a large quantity of wheat in store in Timaru'.". In oue:store alone there arc 90,000 sacks. At one time it used to be possible to gauge the amount in .store fairly accurately, but owing to the good seasons experienced in recent years many farmers have built barns of their own'and store' their own wheat on the farm to save storage charges in Timaru. This being 1 so it is impossible to sav. with any degree of accuracy, how much wheat is on hand. A good (lea! of shipping business is being done. The Opawa now in port is taking about W sacks of wheat, and the Niwaru. which has space for 12.000 sacks, will be here in a fortnight. Her space is already fullv booked. There is no change in the oat market. Practically no business is being done locally. North Island orders being

filled from the Bluff where Southland oats are quoted at 2s 4J<l f.0.b., s.i. This is equivalent to :2s 2d for South Canterbury oats delivered Tnnaru. The potato market lias eased back, both here and in Southland,, and <Sd lCs i" o.b. is the best price offering todav. and it is difficult to find buyers at that. This is accounted for by the tact that orders from the North Island have fallen off, the markets up there being fully supplied at the present time. PRO 1 'ERTY MARKET. Messrs Guinness and LeCren, Ltd., Waimate, report tho following additional land sales:—Account Mr James Brown, 1520.acres, small grazing run, with residence and farm buildings, situated at Flaxbourne, to Mr Alex I<. Forsyth (in conjunction with then- Blenheim'agent); account Mrs J. Forsyth, 99 acres, 1.i.p., with buildings and improvements, situated at Lower Waihao, to Mr Henry Bennett. Account Mr Frank Freeman, half-acre section, with four-roomed dwelling; : srtuated ; iri James street, Waimate,.ito'' Mr James H. Hosking. Account Mrs;E. : Cornelius, quarter-acre section, with five-roomed dwelling, situated in Eaton street, Waimate, to Mr Frank -Freeman'.- -Account the Executors of the. late James; Ahdeiy son; freehold section, . containing-one rood twelve perches, situated in Queen street, Waimate, to Mrs E. M. Ebzery. Account Mr Thomas Williams, half-acre section, situated in Opie street, Waimate, to Mr Aaron Cleland. And, m conjunction with Mesrs S. K. Martin and Co., account tho Executors of the late F. Gaitt, five acres freehold, with six-roomed dwelling and outbuilding, situated in Timaru Road, Waimate, to a client.