COMMERCIAL

Southland Times, Issue 17608, 24 March 1914, Page 4

COMMERCIAL

AGRICULTURAL EVENTS POR WEEK ENDING MARCH 28. —Tuesday. March 24. — Stock sale at Wallaoetown. —Wednesday. March 25. — Stock sale at Kapuka. Mr W. Milne's clearing sale at CHfden, by the New Zealand Loan and Mercantile Agency Go. —Thursday, March 26. Stock sale at Waikaka. THE MONEY MARKET. There is very little appreciable change in the condition of the local money market since our last issue, says the N.Z. Trade Review, hut what move there is is in the nature of an easing tendency. Our exports are maintaining a good high level, both in volume and price, and the banks' coffers are in process of replenishment from the ’ realisation of these exports. The Economist, of London, commenting on the sudden easing of the London money market, states that (lie Bank rate had not boon down to 3 per cent, for a year and a half, and a drop from .3 to 3 per cent, in .January had not been known for the last 23 years. Giving to the clouded state of the stock market vast sums were deposited with the banks at 3U per cent., but when this rate was reduced to 2Vs per cent, money Hooded into investment stocks. In view of the enormous capital requirements still unsatisfied the Economist does not anticipate that there will necessarily be a steady unchecked recovery in gilt-edged stocks to the prices of several years ago. nor are they satisfied that the period of cheap money will hist. HIGH COMMISSIONER’S CABLE. (Per United Press Association). WELLINGTON, March 23, The High Commissioner's market report. dated London. March 21 (quotations unless otherwise specified are for average market prices on spot), is as follows: Mutton: Market weaker, though not actually lower. North Island. t-Ad per lb. The demand hits been chiefly for light weight at so high as l’sd: heavy weights, t'sd. Lamb: The market'is weaker, and the tendency downward on account of large supplies coming forward. The weather lately has been unfavourable to the sale of lamb. There is little demand for Canterbury. Buyers prefer North Island nt lower prices. Canterbury twos, per lb. Ir'sii; heavy weights. 6 (-id: other than Canterbury, il'iil for light weight. Be.-f: The market is very dull, and supplies of American chilled beef are large. New Zealand hinds, per lb, 4 (id: fores. 3 Tsd; chilled binds. 4 "id; fores. 3 eCI. Butler: The market is dull and prices irregular. New Zealand butter stocks have accumulated lately, and holders arc disposed to meet buyers at lower prices, as present supplies exceed requirement;:. Danish is in fair demand, per cwt. 122s to 12 4s; New Zealand, slow. 109s to 112s; unsalted, 116s to USs; Australian, market quiet, 106s to 110s: Argentine market dull. 104s to 108s; Siberian market steadv. 108s to 110s. Cheese; The market is steady with fair business doing, Tim Canadian supply is running short. Holders are firm. Tiier<' is a fair demand for New Zealand, and mark'd steadier; Canadian white, per cwt. 68s to 70s; coiod'.v-"., i n s to Os. Now Zealand lim'sl while. 62s to i.2s t.d; exceptionally tine. 635; line. l >ls to els 6d; finest coloured. 64s 6d to (>,is; fine. 63s to 63s 6d; Australian whip-. 62s to 62s 6d. 'Hie hemp market is quiet hut steady. New Zealand "good-fair.’’ per ton, £23 10s, fair £22 U's; April to .luno shipments "good-fair, £2;> las; fair, £2-,. Manila, fair current. £27; April to June shipment fair current. £26 Ids. The output from Manila for the week was 19,000 bales. Peas; The market is firmer, and (tie stock moderate. Cocksfoot: There is it better demand for seed. Hops: The market is steady, with a moderate demand. SYDNEY BUTTER MARKET. SYDNEY. March 23. Received March 23. 9.3 a p.m. The price of butter lias beep reduced by Is fid. LONDON MARKETS. LONDON, March 22. Heavy South American sheep, 4 l-16d per lb. Lambs: Canterbury, light. 6‘id: medium. 6Vi d : heavy. fiTjd. Southland, fid. North Island, sTsd: selected brands. 6>sd. .South American, 5 (id to 3 d. Beef; South American fores. 3” s d. Australian, 3 13-16 d; chilled hinds, 4%d. Wheat is steady; 36s 3d is asked for Liverpool March shipment. The quantity of wheat and Hour afloat for the United Kingdom is equal to 3.923,000 quarters, and for the Continent 2,275,000 quarters. Atlantic shipments, 469.000 ; Pacific, nil; total to Europe. 1.313.000; Argentine. 174,000; Russian. 286.000 ; Danubian. SO,000; Australasian, 221,000.