THE MONEY MARKET.

Otago Daily Times, Issue 13695, 11 September 1906, Page 4

THE MONEY MARKET.

Sloney continues hi full snpplv, thronghont Australasia.'. Tho' Australnsiai:' insuranee'Vnd Banking Keconl states that the. combinetl bankinf; returns »F Australia and New Zealand to June 30 show, in,lhe nffn-cntc/ an increase for the .year of .eil.OO'lMr.m the excess o( deposits over ajvunces, tin- diffsrence having grown from £10.494,04!) to £21.799 514 ComiUDiiting on the position, the New Zealand Trade Review 'for September says — The colonics, ate nsw on tho threshold- o't another produce season which gives every ■ indication, in spite of a. moderate decline-in tlie.prico of woo], of bringing further 'substantia) additions lo tho wealth of onr colonists.' Under fheso circumstances, and in view ot the coriditiim of tho London nionev market, it appears to us that'our Colonial arcasiirer (Sir J. (I. Ward) is fully justified pi deciding to appeal to the colonial market for the new loan of £1,000.000 which, in his financial Statement, he announced his-in-cation to offer to the public We have been tod (hat tho fret of New Zealand haviu* retrained from giving London, capitalists the opportunity to subscribe to our lost loan had caused displeasure in financial circles in the great metropolis, and it is perhaps-to be regre ted that circumstances should conspire, to render expedient, action that practically amounts to a repetition of the offence. We are, however, satisfied that the proposed course is the proper one to be adopted, and we are inclined to anticipate that when 'money becomes once more abundant and cheap in the London market a reasonable appeal from ftew Zealand would not suffer because of our having proved tho ability' of the colonial market to meet local requirements."

PROPERTY'SALES. The Xaiionol Mortgage and Agency Com-: pauy of .W Zealand. (Limited) report, iiaviii--sold, on account of Jfr J. A. Grey. Patau," bis right, title, and interest in small K raziii" rmj lease, No. 401, of run 24Sn. in the Patea" roa district. Otago Contra), along with the sheep thereon at a satisfactory price to Sir Arnold Alfred Blakely, of Giiumeibitrii. Also on account of Mr-Francis Heeiian, Jfaiiii.gatrta,,aii llls right, .title, al ,d interest in Mai grazing run lease, No. 369, of -rim 2COA; in tho Deep Stream (Tnieri) district, consisting ot 3070 acres,.together.with'l2oo crossbred sheep depasturing thereon.- at -a satisfactory price, to Mr John Mitchell,' Outran,., Alio on account of Sir Alexander Bpird,'Bart' Edinburgh, tho freehold farm close to Bal■»K tT'tv 3 l Vt y &ih '" and occupied by the late John Findlay, at a satisfactory figure. The .farm consists of 714 a lr 02p rolling agricultural land conveniently, situated to read ana rail, -and has been purchased by Mr William Saiyers, Stirling. '"' . ■ . ,

GRAIN AND PRODUCE' REPORTS Messrs Dalgety and Co.' (Ltd.) report as follows -.-At our auction sale held at our stores on Monday we submitted a lar4 eat" loguo of gram and produce, there. b6in» « fair attendance of buyers. Competition', .however, was not animated, but taking into nor,!™ 7 163 Pri ™ l *. » ™,isid e rablo lactory Prices! gU ° W " S C ' earCtl "' '"^-

•Oats.-Tho volume of business passing is »ot great, although a. few sales o B gfade trtir™ * s ft tea ° a t!l ° **» ° f Way's quotations Tho. market is, if anything, weaker, and values,ru.ing are slightly below those quoted in our : last report. A\V quotePrime millmg, 2s 2Jd to 25.3d; good to b"t '««!, 2a hi to-2a-M;- inferior, Is 10d lo'o 3 per bushel (sacks extra). Wheat.--Tlie market is lifeless. Millers are awaiting the 6md ' decision regarding the Reciprocity Treaty before coming again i, lto this market A glues aro merely nominal, but there is still a. fair inquiry for fowl, wheat. Wo quote: Primp pulling, 3s 6t| to 3s fid; prime Puscan, 3s- 7 d; medium-miiliug, ,l s ? d 9° t whole fowl wheat, 3s Id to is 2d; broken and damaged, 2s 9d to 3s per. bushel (sacks cx(ra). Potaloeg.-.The market, if anything, i s a little easier, although prime sorts 'for table use still meet with good competition from buyers. Small seed Dcrwents aro practically marketable, and the market is at St over-supplied with, -potatoes of this doscrip. tion. Good samples of Up-to-Dates 'find a S* on arrival. AVo quote: Seed lines, ill 103 to £12 Us; extra choice picked.'£l3 •' prime table sorts. £11 to £11 15s; medium i- . "£'?•' £a l 0 £I ° IOs ! ' inferiop and small, Chaff.-Tlie market-is easier. Prime quality finds a ready sale'at-prices slightly below late •quotations, but' the 'market 'is oversupplied with chaff of medium and inferior quality. We quote: Prims oaten-, £3 17s (id to £1; extra choice, £4 2s 6tl; medium, £3 10s to £3 ljs; discoloured and-light £3 to £3 5s per ton (bags extra), • Turiiips.-The market is fairly well supplied, and good Swedes are realising.Hs per ton loose ex truck.' \ Straw.—There is a fair inquiry for wheaten, which wo quote at from 30s. to 32s Gd. while oaten straw brings from £2 5s to £2 10s per ton pressed, ex truck.

Uoasrs Donald Raid and.Co. (Ltd.) report: Vie he.d our weekly auction sale ot grain aiul produce at oiir stores on Monday, when jyo submitted a full catalogue of the usual lines m demand locally. Tlioro was a good attendance of buyers, and with fair competition most of the lines on offer changed hands at prices about, on a par with late quotations. Values ruled as under. ' Oals.-During tha past week we have bad more inquiry from exporters, arid in good lines of feed oats better business lias been (lone. In order to effect this, however, slMitly lower quotations have bad to b,c made. °The demand for prime seed lines is'still good, but milling eorts have oulv moderate attention, quote: Seed lines, 2s 5d to 2s 9d' prime nulling, 2s 2»d to 2s 3d; good to best feed. 28 Id to 2s 2d: inferior.and medium, Is Kid to 2s per bushel,(sacks extra). A\lwat.—Ponding -the settlement of the Reciprocity Treaty, business in connection with mi.ing wheat is quite at a standstill. I' owl wheat continues to meet with fair sale at late values, both .locallv and for export «o quote: Trime nulling (nominally!, 3s 5d to 8s 7d; mudiuni,-: 3s 3d to 3s 4?, d; bost whole fowl wheat,.3s Id to 3s 2d; broken and damaged, 2s 9d to 3s> per bushel (sacks extra). - ..-■■■

Potatoes.—There is still good local demand for prime, seed Up-to-dales, well-picked lots haying a strong preference. Tho market is fully supplied with medium table potatoes, which aro more difficult to deal with, although froshly-pjcked, sound table sorts aro in good demand. Inferior quality and small sorts have little attention. Wo-quote: Good to prime seed, lines, £12 to £13 10s; ..best table sorts, £11 to £11 15s; medium to good, £9 10s to £10 10s; inferior, £0 to £8 10s per ton, sacks-included. ' " Chaff.—Tho market is -well supplied with chaff of medium, lo good quality. Prime, bright oaten sheaf still finds most favour with buyers/ and is saleable at prices almost equal to lato quotations; but inferior sorts aro not in request, and are difficult to deal with. We .quote; Prime oaten sheaf, £3 17s Gd to £4choice,, to ft 2s Cd; medium' to good, £3 10s to £3 15s; light and inferior, £3 to £3 5s per tons, bags extra. ' - ' Straw.—We quote: Oaten, 455-to 47s Gd; wheoten, 32s 6d per ton pressed. ' Turnips.—Wo quote; Best Swedes, Its per ton, loose, ex truck. .

CLEARING SALE AT WAIKAKA. Messrs Wright, Stephenson, and' Co. (Ltd,)' report having held a' clearing sale at Waikaka township on Friday last on account of Mr' Alex. Cruickslianlis, who ha 3 leased his farm. There was a very largo attendance of farmers and others, and tho sale was without exception tho best hold in tilts district for yeara. lhe stuck was all in good condition, and compatition was very keen for every lot offered, .liio horses especially were in great demand, hey being young and of sound quality, and buyers, simply fell over each other in their anxiety to securo one. An excellent mai-e, •>yra, by Moralist—dans Fowler's Wallace, and in foal to Captain Stowart, fell to the bid of the Hon. Robert M'Kab for £68; another nice mare, .by Hawkeshury, 'fetched £55 10s. the successful purchasers being Messrs 'CHara Bros., of Otama. The balance of the' horses submitted averaged £18. Tho sheep also brought keen competition. Oiio line of two, four, and six-tooth ewes fetched 22s- Gd, the balsnco of the-stock and farm implements being sold at full rates.

Wo ore informed that tlie purchase of Messrs Irvine and Stevenson's niilk-contlens-ing plant by 11 Commonwealth company has fallen through, and that the firm is now die mantling its buildings and taking down its plant at Henley, for the purpose of re-erecting them on :i suitable site ot Mnsgiol, where (ho firm will become a large purchaser of milk for milk-condensing purposes. Wo are informed that Mr J. T. Lang, representing Messrs •Lovell nml Christmas, of London, liii 9 secured tlio ehecso outputs of the Woodlands, Core, and Otania. Dairy Factories on consignment; under arrangements that aro said to be very satisfactory to the factories concerned. Messrs Todd Bros, and Co.. H.eriot, report: We hold a salo of horses at Huriot on Thursday last. Tho dav was fine, but as farmers are busy sowing tiio result was only a small attendance. For tho samo reason a. number of the entries did not come forward. We succeeded in disposing'of practically all the animals fit to go into hard work, and',could liavo sold a much larger number, at splendid prices had they been available. We have never experienced such an all-round, good demand for all classes ot draught horses, and prices aie steadily advancing. We quote: Good Hough geldings to £.30, and good working ' mares up to X'CO. Anything of special weight or quality £5 la £10 more. We also sold Die Clydesdale stallion Mafek.ing on account o[ Mr I). M'Rae, Kelso, to Mv D. Haugh,' ol Etlrick, at a. satisfactory price.