AUSTRALIAN MARKETS.

Southland Times, Issue 17655, 12 February 1916, Page 4

AUSTRALIAN MARKETS.

GRAIN AND CHAFF. (Per United Pres* Association.) CHRISTCH t’RCH, February 11. The cabled report that the whole surplus wheat crop of Australia had been sold to the Imperial Authorities caused more local enquiries for wheat and enabled a number of sales to be made. A later report that the negotiations for the purchase had not been confirmed steadied business again. The local market is .sensitive. In the event of the surplus not being placed in Europe there is a possibility that exports will be mafic to New Zealand, more particularly in the form of Hour. There is no change in prices locally, sales of new wheat having been made at 5/- and 5/1 at country stations, mostly at the former figure, and an odd lot of ckl wheat at 5/1 to 5/H. It is reported that the new wheat is milling well, being thinner in the skin and making a stronger flour than last season's wheat. Oats —Dull of sale, no disposition on the part of merchants to lay in stocks, in view of the heavy crop available in Southland. There is practically no shipping business at present. A few lines of Cartons were purchased at 3/1 to 3/3. Growers’ ideas of values are generally much higher. Oatshcaf Chaff —Dull of sale, with an absence of any shipping business.

SAINS IN NORTH OTAGO. PARCHED LANDS BENEFIT. OAMARU, February 11. During the past week light intermittent shoAvcrs of rain have fallen throughout the parched district of North Otago. Late this afternoon showers of rain fell and early in the evening a very heavy shower came down. Reports from the country show a fall of about an inch during the day. Early this evening drenching rain set in In real earnest, and shows signs of continuing. It is now (10.30 p.m.) raining heavily, and the district will benefit incalculably. NAPIER SALES. FIXED FOR IStlt, NAPIER, February 11. It has been decided to hold the Napier wool sales on Friday, February IS. THE EMBARGO ON HIDES. CONFERENCE AT AVELLINGTON. AVELLINGTON, February 11. Representatives of the Tanners’ Association, Board of Agriculture, producers and exporters, met the Minister for Munitions and Supplies to-day to discuss the effect of the recent prohibition on the export of hides weighing 451bs or over. The conference resulted in the unanimous agreement that, with the exception of bulls’ hides, the minimum price for all well flayed good conditioned meat works, abattoir, or butchers’ hides, should he, cow, 9d lb; ox, lOd, both subject to the usual tear allowance. If producers are unable to obtain these prices in New Zealand, and give conclusive evidence thereof, the Minister will be prepared to, consider applications for permission to export. AVhile hides required for local purposes will be obtainable at the current market price, the result of the conference Avill be that tanners have agreed to supply bootmakers who entered into contracts for military supplies at the price agreed upon prior to the Government’s embargo.

STANDARD INSURANCE COMPAHY. The annual report of the directors of the Standard Fire and Marine Insurance Company of New Zealand for the year ended December 31, states that the income, including the balance brought forward from last year, amounts to £145,846 18/1, and the expenditure to £100,621 13/6, leaving a balance of £45,225 4/7. From this amount an interim dividend was paid in June, amounting to £3750. The directors have dealt with the balance in the following manner;—To reserve fund, £16,000; to re-insurance reserve fund, £5000; to guarantee and provident fund, £2500; to depreciation of .securities, £2500. They recommend that the balance be appropriated as follows: — To pay a dividend for the half-year ended December 31, at the rate of 1/3 per share, absorbing £6250; and to carry forward to next year £9225 4/7. LONDON MARKETS. BANK OF ENGLAND STATEMENT. (By Telegraph—Press Assn. —Copyright) LONDON, February 11. Received February 11, 10 p.m. Stock of gold coin and. bullion ; £53,697,000; reserve,-£39,864,000; proportion of reserve to liabilities, 24.43; notes in circulation, £32,866,000; Government deposits, £62,641,000; other deposits, £108.531,000; short loans, ±V 2 per cent; three months' bills, 4% per cent; consols, £SS 10/-. COLONIAL SECURITIES. There is a good demand for Colonial stocks, and few are offering. New South Wales 4 per cents., £B7; 3% per cents., £95 5/- and £7l 15/-; 3 per cents., £7l 5/-; Victorian 4 per cents., £94; 3Vs Per cents., £BS 7/6 and £7l 15/-: 3 per cents., £62 10/-; Queensland 4 per cents., £9O 5/-: 3V£ per cents., £36 10/-; 3 per cents., '£63 15/-; New Zealand 4 per cents., £B7; 3% per cents., £74; 3 per cents., £6l; South Australian 3Vs Per cents., £73 5/-; West Australian 3% per cents., £76 12/6; three per cents., £69. GRAIN, PRODUCE, METALS. Wheat—Quieter and easier. Flour —Firm and inactive. Oats —Quiet. Bahia Blanca FebruaryMarch, 34/3. Peas and Beans —Steady and quiet. Butter —Steady; Colonial firmer. The quantity marketed is small owing to slow discharge. Australian choicest salted, 146/- to 148/-; unsalted, 156/- to 160/-; New Zealand salted, 150/- to 151/-; unsalted, 160/- to 164/-; Argentine salted, 144/-; unsalted, 150/- to 152/-. Cheese —Easier owing to larger prospective supplies. New Zealand, 97/-. Sugar—Finn. American granulated. Bradford Wool —Small business, and prices well maintained. Copper—Spot, £104; three months, £lO3, Electrolytic—Spot, £132; three months, £136. Tin—-Spot, £179 10/-; three months, £179 5/-. Pig Iron—£4 13/7% d. Bead —Spot, £32; three months, £3l 15/-, Spelter—Spot, £92; three months, £96. INCREASE lIT FREIGHTS. LONDON, February 10. Received February 11, 10 p.m. Freights to Sydney, Melbourne, and Adelaide will be raised 10/- per ton on Ist March, and probably also to Queensland and New Zealand. SYDNEY "WOOL SALES, SYDNEY, February 11. Wool records continue. Scoured reached 3214 d and greasy comeback 21d.