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Poverty Bay Herald, Volume LV, Issue 17179, 8 February 1930, Page 8

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, BANK OF ENGLAND RETURNS {jjloc. Tel. Copyright—United Press Assn.) (Received February 8, 10 a.m.) LONDON, Feb. 6. Bank of England returns are:— Issue Department j £ • i Notes in circulation 348,090,421 i In banking department ... 62,093,444 ‘j Total ... 410,783,865; i Government, debt 11,015,100 - Oilier Government securities 233,601,194 > Other securities 10,924,481 • (Silver coin 4,459,225 Total fiduciary issue ... 269,000,000 Gold coin and bullion ... 150,783,865 [! Grand total 41.0,783,865 "! Banking Department 1 Proprietors' capital 14,553,000 Res! 3,607,008 ; Public deposits 23,294,173 Other deposits, bankers' ... 04,250,174 ' Ollier accounts 56,226,901 I Seven day and other bills 2,370. .; Total 131,933,626 ■ I Governmtnf securities ... 49.894,613' ■ Discounts and advances ... 5,602,697 if i ; i.her securities 15,914,631 Notes 62.090,444 » Gold and silver coin 428,241 j Total ... 151,933,626 j Proportion of reserve to liability 54.90i per cent. Short loans, 3A- per centThree months’ bills, 3,( per cent. 1 LONDON PRODUCE MARKETS I I • (Received February 8, 10 a.m.) j LONDON, Feb. 6. Wheal cargoes are dull and declined ' from 3d to 6d. Buyers are apathetic. • For -parcels there is a small request, ! except- for Australians, but Manitobas ; are 6d to 9d lower and La Flatus 3d : lower; ex-.lervis Bay arid ex-Buteshire j 455. Futures: London. March 39 s lid; ,| May 4Cs 3d; Liverpool, March 8s 3(:d, i .May 8s 7fd, July 8s 9.',c1. Spot trade is quid ; Australian ex-ship 45s 9d. j Ouis are in fair demand, Australian Algerian £lB to £l9, and A Gartons ! ..‘JIM to £2l. Peas are neglected, blue Tasmanian 26Cs to 280 s; New Zealand, '24os to 2605; Maples, Tasmanian 60s |! ;<i 655. Beans are slow; New Zealand I-15s to 455. \ REDISCOUNT RATE REDUCED ' (Received February 8. 10 a.m.) NEW YORK, Feb. 6. | The New York Federal Reserve Bank j directors announced a reduction in the ' re-discount- rate from 4) to 4 per cent. ! LONDON MARKETS j Dulget-y and Co. have received the ‘. following cable message from London, 'dated 6th inst. :—“London wool sales I closed firm and active with brisk com- ' petition. All merinos, average to good, j were 5 per cent, to 7 per cent, higher ■ | from tlie lowest point of the series. There was a strong demand by the . Home trade for crossbreds. As compared with closing rates of last- series j greasy New Zealand merinos, none offered ; Australian merinos, 2kl to 3>-d [lower; scoured, 4d to Gd lower; gsy. ha If bred, 21, d to 3Ad lower; few fine (sorts offered; gsy. crossbred, fine, 3d to 7)ld lower, medium, 3d fo 5)4 lower, ; coarse, 2jd to 3jd ; scoured, 3)d to 4.',d lower; slipe, 34 to Gd : lambs, gsy.. ; 2,',d td 31 d. There were 127.164 bales offered. The Home trade bought, j 61.000 bales, the Continent 42,000, and ' America 1000; 65.000 bales were car ■ i led forward, of which 45,000 were not , offered. The total quantity sold was 94.000 bales. Butter. —Quotations are:

Jani.sh, 176 sto 178 s por cwfc.; New calami finest, 151 s to Js4s; Australian .most, unsalted 154 s to 1565, sailed 149 s to 1525; Australian, g.a.q. 144 sto 1485.” 1 Klee. TflJ Copyright—United Press Assn.) (Received Feb. 8,1 C a.m., SYDNEY, Feb. 7. U heat, is lifeless and prices are nominal; parcels, 4s lid. Flour is skrtt at £l2 5s to £l2 10s; bran sold at £7’ ss; pollard, £8 15s; oats, milling 3s 3d to 3s 4d, feed 2s lid to 3s; barley is nominal, English 4s, and Cape 3s. Coastal maize is selling fairlv well at. 7s to 7s 3d, ex store, according to quality, but the steady .advance has. been arrested by the purchase of South African maize to be shipped next month. As this will sell at about 6s 6d to 6s kl,_ local merchants are inclined to let their l stocks of coastal maize run low, so that the wholesale demand is slacken-! mg off. Favorable quotations for maize of excellent quality have also been received from .lava, and some of this may be imported a month later than the South African. These should suffice until the new local crop is available. — Auckland Herald.

Union growers in Canterbury were interested to learn that an overseas market for onions was opened up last week, 200 tons having been sold by a Christ - church merchant to Vancouver. The sale of a big lot of onions to Montreal is at present being negotiated by the name merchant. Last season a small shipment of Uanterbury onions went to Vancouvtr and gave every satisfaction. In the past the export business in onions has been done chiefly from Auckland, but it seems likely that in future Oan'erbnry will secure a share of this business.

Messrs. Williams and Kettle, Ltd., have received cabled advice from London fliat the first scries of London sales dosed cm January (> with •he market firm at the following rates for average wools:—Fine crossbred, Ll/AS’s, Bid to Shi; medium crossbred, 44/40’s, 7;{d to 8(1; coarse crossbred, -10’s, 7d to 7-Ad.

The Rank of New Zealand is in re■eipt of the following cable advice from London, dated February 6: “Sales losed firm for all kinds of wool: demand improved, with prices steady. 'Flotations: Merino, super. 12d to 14d per lb; ordinary. 10;,d to llld; inferior, BLI to lGd. Hnlfbred, 12L1 to 1.4c1. Crossbred, fine, llid to 12-J,cl; ■Medium, 10/d to lid; coarse. 10d to 10.1 d.”

.Messrs. W. A. Eliott, Ltd., have rocived cable advice of the following Smithfield prices for the week ending February 7: “Rest North Island prime lambs. T7/361hs. lid, 36/421bs. lid, 12'501 bs. lid; ordinary North Island lambs, IT/42 10|d, do/ second quality, [T/421bs. lOd : best North Island wethers and/or maiden owes, 48/£6lhs., 56/64lbs.

Md. 64/721bs. 0/721bs. 7d; ordinary North Island wethers and/or maiden ewes. 48 561bs. 56/641bs. 7!d, 64/721b5., G/721bs. 6Jd; North Island ewes, IJ/64 lbs., 51 d, 64/721b5.. 0/721bs. 5/d; New Zealand prime ox beef (equal fores and binds), 160/2201b5. 6d. Remarks : Lamb, no change: wethers, /d higher; owes, hi higher ; beef, -R1 higher.”