COMMERCIAL.

Sun (Christchurch), Volume I, Issue 138, 17 July 1914, Page 8

COMMERCIAL.

THE MONEY MARKET. BANE OF ENGLAND BETUBN. By Cable. — Press (Received July 17, 12.10 p.m.) ." ' LONDON, July 16. The Bank of England return issued for the week ended Wednesdty, July 15, is as under:— « ISSUE DEPARTMENT. Notes - Got. debt £11,015,000 issued £29,315,000 Other seNotes in curities 7,434,000 reserve 27,592,000 Gold . 38,458,000 £56,907,000 £56,907,000 BANKING DEPARTMENT. Proprietors* Gov. se«ucapital £14,553,000 rities 11,005,000 Public de- Other secuposits V■.'.' v' rities 33,623,000 Other de- ' Notes 27,592,000 po&its 42,486,000 Coin 1,597,000 Rest, 7-day and other bills 3,459,500 £73,817,000 £73,817,000 The leading items of the Bank of England: return afford the- following comparisons:— Increase or increase or decrease on decrease on Amount, last w«ek. last year. JE £ ■& Bullion 38,458,000 *554,000 .•1,798,00ft Note cir- ' culatioa 29;315,000 f 216,000 t7' 6 . 0Q0 Rflservu 29,189,000 *&70,000 *l,9rer,ooo Deposit* 55,805,000 t563,000 *3,696,000 Proportion of reserves to liabilities 52.28 *1.70 f1.07 •Increase. fDecreaae. LONDON WOOL SALES.

By Cable. — Press Association. — Copyright. LONDON, July*l6. /The following are the prices realised for the fleece portions of the New Zealand clips named: —Tokorangi, top Hid, average lOSd; Waipoa, top 13£ d, average 14id; Howard, top 16$"d, average 14id j Mac Donald, top 16$ d, average 15$ d. . AUSTRALIAN PRODUCE. SYDNEY, July 16. Wheat 3/5, buyers 3/10, sellers 3/iaj. Flour, £9. Oats, Tasmaaians, 2/11, 3/-; Algerian feeding, 2/4 to 2/5; miUing, 2/7. Barley, Gape feeding, 2/6; English,. 2/6. Maize; 3/6 to 3/10. Bran, £5 5/-. Pollard, £5 5/-. Potatoes, Tasmanians, £3 10/6. Onions, Victorian, £8 10/-; New Zealand, £5 10/- to £6; picklers, £3. Butter, selected, 118/- J secondary, 98/- to 100/-. Bacon, 8d to Ham, lid.' Cheese, 9d to lOd. * ADELAIDE, July 16. Wheat, a/9 to 3/10*. Plour, £8 to £8 5/-. Bran, 1/1. Pollard, 1/3. Oats, Algerian, 2/2 to 2/3. MELBOURNE, July 16. Hides are in fair supply, and easier, owing to wet conditions. (Received July 17, 8.20 a.m.) MELBOURNE, July 17. Wheat, 3/10* to 3/10J; flour, £9; bran £6 10/-; pollard, £5 15/-; barley, English malting 3/- to 3/6, Cape 2/- to 2/5; oats, Algerians, 2/1 to 2/3; maize, 3/2|; potatoes, £4 5/- to £4 10/-j onions, £6 15/- to £7.

MOUNT LYELL EETUEN. (Received July 17, 9.20 a.m.) MELBOUENE, July 17. The Mount Lyell return from June 11 to July 8 inclusive, shows that 26,434 tons of pre, also five tons of purchased ore, were treated, and yielded 574 tons of copper, 33,241 ounces of silver, and 842 ounces of gold. BROKEN HILL DEBENTURES. (Eeceived July 17, 10.45 a.m.) MELBOUENE, July 17. The Broken Hill Proprietary directors have allotted debentures valued afc £75,000. Australian applicants'secured £25,000 worth.

FARM PRODUCTS. At this season of the year the grain trade is usually slack, but it was never more so than at present. Both buyers and sellers are unusually reluctant to do business. All outside markets are exceedingly dull, and the produce going north is limited. Local stocks, so far as the : merchants are concerned, are very light, as at any time during the season there has been a total absence of speculation. WHEAT. Millers are reported to hold considerable stocks of wheat, and they are perturbed at the increasing competition for the northern trade by Australian flour. Little or no wheat has been changing hands. Quotations: —Pearl 3/8 to 3/9, Hunters 3/7* to 3/8, Tuscan 3/7 to 3/fy fowl wheat to 3/5. OATS. Although there was a considerable export of oats recently from southern ports, they were sold before the more recent decline at Home, and. the buyers will evidently have to face a loss upon them. Quotations: —Prime Algerians to 1/9, ordinary 1/6 to 1/71, A grade Gartons to 1/8, B Gartons 1/6* to 1/7, Danish 1/7, Duns 1/7 to 1/B*. BABLEY. Prime malting barley is quoted at 3/3, with other grades at relative rates, but the quotation is nominal. CHAFF. As the oat trade is weak, chaff is in much the same position, and the price thrft has been quoted for some weeks past, 55/- per ton at handy stations, is practically all that is obtainable.

POTATOES. In sympathy with the northern market there has been a weakening tendency within the past few days, and local merchants are buying very few potatoes. Not more than 55/- per ton is now on offer, though little business is reported at this figure. ONIONS. A fair demand exists for onions af from £3 5/- to- £4. GBASS SEED, Byegrass is from 2/3 to 2/6, ind inferior quality ranges from 1/6 to 1/9 L White clover is worth 9d to lOd, and cowgrass 7d to 7|d. OTHEE LINES. '; Linseed is worth from £9 to £9 5/-." No. 1 Partridge peas are quoted at up to 4/6, being very ecarce, and other lines are in proportion. Prussians realise from 3/- to "3/3, and Imperials 3/- to 3/6. Beam 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 bag* £lO 10/-, 501b £lO 15/-, 251b £ll. DAIBY PBODUCE. i Butter values now are as follow: Factory prints 14d, farmers' separator lid to dairy lOd to 10£ dv Cheese.-—Large dairy 5Jd, loaf 6tf> factory large 5f d to 6d. Hams are at 12d, sides 9sd, roHs 10£ d, large Hid. Eggs are low: 1/4 per dozen. Extracted honey 3£d, sections 4/& per dozen. IN AUCKLAND. (Sirs Special.) '*."■/ v AUCKLAND, July 1«. Potatoes are dull at-the nominal quotation of £5 5/-. Business is being done for forward delivery at 5/- to. 10/under that figure, ex wharf, The outlook is uncertain, and growers artf indisposed to accept the low prices nowruling, and once the accumulations-in store have worked off it is expected prices will recover. Seed potatoes are meeting with a better demand this week. - . ' Steady business is being done in oats with the result that store, stocks here are being rapidly depleted. Tne market is not so depressedxas it was a'montfc ago, the exports from southern ports having strengthened the position considerably. Seed oats are in good demand, as sowing is -now general.. Southern grown Algerian seed; double machine-dressed, are worth 3/8, and Australian-grown machine-dressed and clipped 3/10. An excellent demand exists for this line. Business in milling' wheat is very quiet. This is to a great extent the xejsult of the larger importations of flour from Australia of late. It is, considered certain here that there will be ample supplies of milling wheat,.for all requirements until next harvest. Fowl wheat is meeting with steady sale at 4/$ ex wharf, and 4/9 ex store. The market for onions shows improvement in tone, the price being Arm. at 7/per cwt., with an improved tendency. So far supplies for this market are entirely drawn from the south, but so late in the season merchants are not inclined,to carry large stocks. Steady supplies jo£ good quality continue to 1 come from the south for the chaff market. There is, however; rather a glut here at present of poorer ! quality of chaff, and this nas a ing effect on the market, "which, "though still, not buoyant, is now better than it has been for several months past. The quotation is from £6 to £6 10/- per ten. FBOZEN MfiATMAEKET. Messrs Turnbull and Co. have reV ceived the following advice from "V& iWeddel and Co., London:— v " Lambs. —There has been a quiet trade throughout the past week at Smithfield. Small lambs continue to be .well enquired for, and priees for same close firm. ..Medium and heavy-weight carleases, however, are slightly weaker, and prices are quoted a shade easier. Prime Canterbury lambs are quoted today at 6 5-16 d per lb for the U/3611V 6Jd per lb for the 36/421b, and 6d per lb for the o/421b. Small secondary earcases- sell at 6Jd per lb. Best North Island lambs are scarce, and'are quoted ;at 6 3-16 d per lb for the small and medium weights, and ordinary carcases are quoted at 6 l-16d per lb. Secondary lambs of this class are selling at 6d per lb for small weights. Australian. lambs have maintained their last tations, to-day's values for g.a.q. being sfd to s|d per lb for the small weights, 5Jd per lb for the medium, weights, and s|d per lb for the heavy weights* F.a.q. lambs are valued at id per lb less. Biver Plate lambs are sHghtly dearer this week at: s}d to 5Jd per lb, according to weight. Mutton.—There has been a good* demand for all descriptions .of frozen mutton, and prices in most cases are a shade dearer. Prime Canterbury sheep are offered at 4d to lb. Best North Island carcases, u/641b, axe selling at 3Jd to 4£d per lb, and the o/641b at 3|d. to 3|d per lb. Ewes are offered at 3|d to,3sd per lb for the heavy weights, and 3|d to 3|d for the medium and small weights. The. recent good enquiry for Australian sheep has been maintained, and values are quoted a shade higher, 3|d to 3Jd per lb being current quota- - tions for small weight, g.a.q. and f.a.q. carcases. Medium weights sell at 3|d per lb, and heavy weights at 3£d to\. 3|d per lb. Eiver Plate sheep are quoted at 3|d to 4d per lb. Frozen Beef.—There is no change ta> report in the position of fores and crops. Hindquarters, , however, have met with a good demand, and with moderate supplies available prices arefirm. Australian crops are quoted at 3|d per lb, and hinds at 4£d to 4|d per lb. Eiver Plate fores sell at 3|d to 3Jd per ib, and hinds at 4|d to 4sd per lb. New Zealand beef realises 3§d to 3|d. per lb for fores, and 4*f d to 4£d per Ib for. hinds. . Chilled Beef.—Trade has been quiet for forequarters, which close at 3Jd per lb. A good demand has been experi- ; enced for hindquarters, and prices close? at sid to s§d per lb.

CHRISTCHURCH STOCK EXCHANGE. FRIDAY, JULY 17, 1914. SALES REPORTED. N.Z. and R. Plate Land Mortgage, £2 2/* Waihi Grand Junction £1 6/6. TO-DAY'S QUOTATIONS. X Buyer*. Seller*. BANKS— ,'£ s. d. £B. &. Australasia ..-..• N.Z. (fully paid) >■„. 16 19 0 ■«—? COAL— | Taupiri ■..'•. ••:*•: 1 1 0 «*-» j y Westport .. . ... 110 0 —» \ Westport-Stockton .< 0 2 Q «** } FINANCIAL— N.Z. and River Plata Land Mortgage' ..216324 INSURANCE — National of N.Z. ftT 2 18 6 Standard of N.Z. v .< 1 17 <$ MISCELLANEOUS— Booth, Macdonald^and Co. (pref.) .... 0 19 ft, N.Z. Farmers' Co-op. **-. 2 8 fC MINING — waihi v . *» 5* <-*. ■.;■».: 4■;#