COMMERCIAL.

Sun (Christchurch), Volume I, Issue 114, 19 June 1914, Page 8

COMMERCIAL.

THE MONEY MARKET.

BANK OP ENGLAND BETTJRN.

By Cable. — Press Association. — Copyright. (Received June 19, 10.10.. a.m.) LONDON, June 18. The Bank of England return issued for the week ended Wednesday, June 17, is as under:—

ISSUE DEPARTMENT. Notes Gov. debt £11,015,000 issued 28,418,000 Other seNotes in curities 7,434,000 reserve ' 27,068,000 Gold 37,037,000

£55,486,000 £55,480,000 BANKING DEPARTMENT. Proprietors' Gov. secucapital £14,553,000 rities £11,04/,000 Public de- Other secuposits 17,647,000 rities £<, 462,000 Other de- Notes 27,068,000 posits 41,809,000 Coin 1,646,000 Rest, 7-day v and other bills 3,154,000

£77,223,000

£77,223,000

[ The leading items of the Bank of England return afford the following comparisons:— Increased Increase or decrease on decrease on Amount. laßt week, last year. £ £ £ I Bullion 37,037,000*1,746,000 *97,000 Note cir- ' culation 28,418,000 t277,000 * 16 5-000 Reserve 28,714,000 *2,024,000 *3,000 Deposits 59,516,000 *839,000 *3,476,000 Proportion of reserves

to liabili- ~ „ „_ ties 48.24 *2.74 t10.97 ♦lncrease. -^Decrease.

THE WHEAT MARKET.

By Cable. — Press Association. — Copyright. LONDON, June 18.

Wheat—The market is very dull owing to fine weather and weak American advices.

BRISBANE WOOL SALES.

BRISBANE, June 18.

At the wool sales there was animated competition for, best sorts, and prices ruled in sellers' favour. Other classes were fully equal to May rates.

AUSTRALIAN PRODUCE.

SYDNEY, June 18.

Wheat, 3/101 to 3/11 j flour, £8 5/- to £8 7/6; oats, Algerian feeding 2/5 to 2/6, milling 2/8 to 2/9, Tasmanian 3/-; barley, feeding 2/6, seeding 2/10; maize 3/9 to 3/10, Java 3/6; bran and pollard £5 5/-; potatoes, Tasmanians £5 10/-; onions, Victorian £B, New Zealand £7 10/-, picklers £4 10/-; butter, selected 120/-, secondaries 102/- to 108/-; cheese, 9d to 9Jdj bacon B*d to 9d.

ADELAIDE, June 18. Wheat, 3/10 to 3/11 j flour £8 5/-; bran' 1/2; pollard 1/3. MELBOURNE, June 18.

H i ( l es _There were good supplies. Sloppy and heavy were Jd to Id lower; others unchanged.

(Eeceived June 19, 9.30 a.m.) MELBOURNE, June 19,

Wheat, 3/101 to 3/11; flour, £9; bran, £5 10/-; pollard, £5 15/-; barley, English 3/- to 3/3, Cape 2/2 to 2/4*;' oats, 2/- to 2/3; maize, 3/6 to 3/7; potatoes, £3 10/' to £4 10/-; onions, £6 10/- to £6 15/-. FARM PRODUCTS. The general slackness of the grain trade continues. There is little demand for anything but A grade Gartons, and Partridge peas. Potatoes have firmed slightly consequent upon a better northern demand. WHEAT. Though little business is reported wheat is about the same, and the fact that local merchants are quoting the northern grain men 3/11 f.o.b. southern ports does not indicate any immediate prospect of advancement. The reported heavy advancement of flour is also responsible' for the steadying effect upon prices quoted to growers. Quotations are:—Pearl, 3/8£ to 3/9; Hunters, 3/7-1 to 3/8; Tuscan, 3/7 to 0/74; and fowl wheat up to 3/5. OATS. The Eimutaka which is due out this week will take fair shipments of oats for Hull, Bristol, and Glasgow. The commencement of spring sowing should see an improvement in most seed varieties. Quotations are:—Prime seed Algerian to 1/9, ordinary 1/6 to 1/7*, A grade Gartons to 1/8, B grade 1/6* to 1/7, Danish 1/7, Duns 1/7 to 1/B*. BARLEY. No demand exists for barley, and it is quoted nominally at 3/3 for prime milling. _ CHAFF. Seemingly chaff will be very cheap right through the "winter, as a lot of oats are under thatch. Up to 55/- per ton is paid for prime oat sheaf, but merchants do not evince any keenness to buy much at this figure. POTATOES. The depression of the last week which was a reflex of the northern market has to some extent passed away, there being a better enquiry from the north. Up to 55/-* per ton is obtainable for immediate delivery. ONIONS. There is a moderate enquiry for onions from £3 15/- to £4 per ton. GEASS SEED. Ryegrass is from 2/3 to 2/6, and inferior quality ranges from 1/6 to 1/9. White clover is worth 9d to lOd, and cowgrass 7d to 7*d. OTHER LINES. Linseed is worth from £9 to £9 5/-. I No. 1 Partridge peas are quoted at up to 4/6, being very scarce, and other lines are in proportion. Prussians realise from 3/- to 3/3, and Imperials 3/- to 3/6. Beans are at 2/10. Bran is quoted at £4 5/- per ton, and pollard £6. Oatmeal £l2 per ton. Flour is now: Sacks £lO, 1001b bags j £lO 10/-, 501b £lO 15/-, 251b £ll. ' DAIRY PRODUCE. Butter values now are as follow: Factory prints 14d, farmers' separator lid, and dairy lOd. Cheese. —Large dairy s*d, loaf 6d, factory large s|d to 6d. Hams are at 12d, sides 9*d, rolls 10|d, large ll*d. Eggs are now 1/9 per dozen, supplies being scarce. Extracted honey 3|d, sections 4/6 per dozen.

IN AUCKLAND.

(Suit Special.)

AUCKLAND, June 18. Supplies of potatoes having dwindled somewhat since last special report, the position is more stable than has been the case during the past month. Supplies are just about equal to the demand, with the result that £5 per ton is easily obtained at the wharf, and £3 5/- in the stores. Even better prices.are predicted for the remainder of the month, and also for July. All the local potatoes are worked out, and two steamers which arrived from the south to-night had only 1600 sacks in their holds. These were the Waitomo and Tarawera. A good demand exists for seed potatoes, and the quality of these on offer is generally good. A smaller area under crop is predicted for the next season, owing to the widespread losses caused by last season's low prices. Many farmers are devoting their attention to crops which in the Auckland district are associated with a lesser degree of risk. Stocks of onions are not heavy in Auckland. The market is firm at 6/6 per cwt. From now on onions must improve in price, as the only supplies now are from the south, and the lateness of the season is beginning to affect the quality. Prices in America are still too high to permit of importations from that quarter, but Japanese will be available when southern grown onions are done.

Little is doing in oats, the quotation remaining at 2/9 for B and 2/iOifor A grade. Stocks locally are ample for present requirements, and as there now seems little hope of any big export from New Zealand this winter it is now considered • the market for oats cannot change appreciably. Algerian seed oats are meeting with good demand at 3/8 for southern, and 3/11 for Australian grown. A large area , will be put in under oats in the Auckland district, but the sowing will be spread oyer the next three months. ■—• ;

Milling wheat remains unchanged at 3/11 f.o.b. southern ports, and fowl wheat is quoted at 4/10 ex store. Supplies are equal to immediate requirements. With regard to chaff, merchants are awaiting the arrival of the weekly steamer from Blenheim to replenish local stocks. Supplies here are very short, and southern brings £6 10/- ex store. CHRISTCHURCH STOCK EXCHANGE. FRIDAY, JUNE 19. SALES REPORTED. National Insurance of N.Z., £2 13/6 and £2 13/9. N.Z. Consolidated Dental, £1 3/-. TO-DAY'S QUOTATIONS. Buyers. Sellers. BANKS— £ s. d. £ s. d. National of N.Z. >. 515 0 BREWERIES — Manning .. .. .. 317 6 Ward ...... 5 0 0 COAL— Taupiri ...... 1 1 6 Westport .. 1 10 0 1 10 6 INSURANCE — v National of N.Z. .. 2 13 0 - MEATS— Cant. Frozen Meat 8 17 6 Ohristchurcli Meat Co. SHIPPING— Union Steam Ship .. MISCELLANEOUS — Bowron Bros. .... 0 7 0 N.Z. Consol. Dental N.Z. Farmers' Co-op. 2 7 9 2 8 0 N.Z. Paper Mills .. 0 17 3 MINING— Blackwater Mines .. 015 0 —• AUCKLAND STOCK EXCHANGE. Press Association. AUCKLAND, June 19. Sales —Talisman 35/6, Grand Junctions 26/3, Northern Steam (paid) 14/6. WELLINGTON STOCK EXCHANGE. WELLINGTON, June 19. Sale —Taupiri Coal, £ll/6. DXJNEDIN STOCK EXCHANGE. DUNEDIN, June 19. gales—Union Steams 24/8, Junction 26/-.