LATE COMMERCIAL.

Southland Times, Issue 16786, 15 July 1911, Page 6

LATE COMMERCIAL.

MONEY AND MARKETS. (By Tslsgrsph.—Fcmi .Association. —Copyright! LONDON. July 14. Received 14, 9.30 p.m. —Bank Returns, Etc. — The Bank of England returns show;—* Stock of gold coin and bullion, £39,468,000 ; reserve, £29,822,000 ; proportion of reserve to liabilities, 52.12 ; In circulation, £29,285,000 ; public deposits, £9,278,000 ; other deposits, £47,909,000 ; Government securities, £14,967,000 ; other securities, £30,383,000. The bank rate is 3 per cent. Short loans are discounted at I%J three months’ bills as follows: —London, 115-16; Paris, 2% ; Berlin, 2%. Consols are quoted at 78%. —Colonial Stocks. — The following are the quotations for Colonial Government stocks, compared with those ruling a week previous:— July 6. July 13. New South Wales 4’s .. 104 104 New South Wales 3%’s 99% 99%’ New South Wales 3’s .. 87% 87% Victorian 4’s .. •• 101% 101% Victorian 3%’s .. i. • 97% 98 Victorian 3%’s .. •• 97% 97% Victorian 3’s •• •* 84% ! 84% Queensland 4’s • • 102 102 Queensland 3%’s .. 98 98 Queensland 3’s ■ • 86 86 South Australian 3%’s . 81% 81 %1 New Zealand 4’s .. 104 104 New Zealand 3%’s .. 96% 96%> New Zealand 3’s .. 86% 86%' Tasmanian 3%s .. .. 96% 97 Tasmanian. 3’s •• 84% 84%' West Australian 3%’s . 97 97 West Australian 3’s . • 86 86 —Metals. — Copper—Spot, £57 Is 3d; three months, £57 12s 6d ; electrolytic. £59. Tin —Spot, £196 10s ; three months, £lB9 10s. Spelter—£2 ss. , Iron —46s lid. Lead —Imports for the month total 20,445 tons ; Australian, 3464 tons ; ex*' ports, 5662 tons. —Sugar and Wool.— Sugar—German, 12s 6d ; first marks 14s 3d. At Bradford W’ool is cheerful and un« changed. At the "wool sales the following ar< the prices realised for the fleece portion of the clips named : Waiouri, top 15d l average, 13 %d ; Gear, top, 12 %d ; average. 9%d; Panikau, top, lOd ; average B%d. —Wheat, Flour, Etc. — Wheat is inactive, but unfavoura\»l* crop reports from Russia and Germany and droughty weather in Europe have maintained pripes, though shipments are heavy. English crop prospects are good. Thirty-four and threepence is asked for South Australian March-Aprll shipments ; 34s for steamer shipment early in July ; 34s 6d for Victorian steamers mid-July and mid-August ; 33s has been paid for South Australian and Victorian parcels arrived. There is slow demand for Australian spot at 35s fid and ?"«s ; best New Zealand long berry, 35s 6JFlour is in poor demand. Spot, 24s to 24s 3d. Oats are steady. New Zealand Is scarce. Gartons, 21s to 22s 6d; Sparrowbills, 20s 6d to 21s 6d ; La Plata, JulyAugust shipment, 15s 9d.

—Butter and Cheese. — Butter is very firm. The continuance of the heat is seriously affecting the output in England, Ireland and the Continent, 'especially France, where it is reported that foot and mouth disease has broken out. Siberian shipments have been greatly reduced. Danish, 119s tc 120s ; choicest Australian, salted, 104& to 106s ; unsalted, 106s to 108s, occasionally 110s ; secondaries, 92s to 100s. Stored lots are selling freely. Cheese is.firm. New Canadian is improving in quality and is quoted at 58s; New Zealand, 60s to 60s 6d ; Victorian, small, 55s to 56s ; large, 58s to 595. Sale is rather slow owing to plenty of Canadian cheese offering. CHBZSTCHUBCE PRODUCE MARKET (Per United Press Association.) CHRISTCHURCH, July 14. There has been a slight revival in the wheat export trade, consequent upon the improved tone of the London market. The Drayton Grange has sailed with 12.000 sacks from Southern ports a.nd Lyttelton, and the Marere, now loading, is expected to take away another 15,000 sacks. There is very little wheat changing hands, as the slight advance in price has been met by growers increasing their reserves. Tuscan wheat has been sold up to 3s 4d, and velvet up to 3s 5 for prime lines at country stations. The census returns showing the area in crop this last season and the amended estimate of the yield Indicate that there is ample wheat for all requirements this year, as only some three-quarters of a million bushels have been exported. The considerable decrease shown in the area sown in oats this last season has had the effect of causing a little more enquiry, but offerings locally are scarce and sales are few. Chaff is easier, only 75s to 80s at country stations being offered ; but there are not sellers at these prices, as chaff is worth more in country districts for local consumption than for export. The potato market is dull in consequence of heavy supplies goij|£ forward to Auckland during the last week. Some 11.000 or 12,000 sacks have been shipped North from the Bluff for Timaru and Lyttelton. The crop in the Oamaru district is turning out very much better than was expected. There is little demand for potatoes in consequence of the quantity going North, and the best offers are 50s to 55s at country stations. As showing how potato growing has decreased in different provinces in the Dominion during the last ten years, a comparison of the 1911 census returns with the figures for the season 1909-10 (the latter being given in brackets) is interesting : Auckland 4199 acres (7107 acres). Taranaki 503 (1963), Hawke’s Bay 1247 (2161), Wellington 2272 (4156), Marl borough 508 (753), Nelson 867 (1198). Westland 41 (308), Canterbury 9407 (12,434), Otago 5111 (5211), Southlam. 3030 (1592). All the provinces have de creased except Southland, where the ares was nearly doubled. The decrease it potato growing In the Dominion is, o; course, due to the loss of the Australiar market through the blight of a fev years ago.