COMMERCIAL.

Sun (Christchurch), Volume III, Issue 872, 25 November 1916, Page 13

COMMERCIAL.

LONDON MARKETS. BANK OF ENGLAND RETURNS. By Cable. — Press Association. — Copyright. Australian and N.Z. Cable Association. LONDON, November 23. The Bank of England returns for the week ended Wednesday, November 22, are as follow: — ISSUE DEPARTMENT. Notes in cir- Govt, debt £11,013,000 culation £30,920,000 Other secuNotcs In re- rities .. 7,185,000 serve .. 30,152,000 Gold coin & bullion .. 54,572,000 Authorised £73,072,000 circulation £73,072,000 I BANKING DEPARTMENT. Proprietors' Govt, secucapital ..£11,553,000 rities ..£42,188,000 Public de- Other secuposits .. 55,580,000 rities (adOther de- vanees) .. 98,634,000 I posits .. 105,418,000 Notes in revest, 7-dav serve .. 30,152,000 I and other Coin.. .. 1,788,000' bills .. 0,209,000 £178,700,000 £178,700.000 Nov. 22, Nov. 25 ! 1910. 1915. Coin and bullion .. £54,572,000 £52,294,000 j Reserve 37,938,000 37,005,000 Proportion of Reserve to liabilities .. .. 25.50 27.19 1 Notes in circulation .. 30,920,000 33,392.000 Deposit liabilities .. 100,998.000 138,798,000 Government securities 42,188.000 18,895,000 , Discounts & advances 98,034,000 98,116,000 BANK OF ENGLAND BATE. The Bank of England discount rate was raised from 2 per cent, to 4 per cent, on July 30, 1914, to 8 per cent, on July 31, and j to 10 per cent, on August 1; was on August i 0 lowered to 0 per cent, and on August 8, | 1914, to 5 per cent., at which it remained until July 13, 1910, when it was raised to | (i per cent. MONEY MARKET. Short loans are quoted at 5 per cent., j unchanged since last week. At this date last year the quotation was 4} per cent. I Three months bills are quoted at 51 per cent., unchanged since last week. At this date last year the quotation was 51 per cent. CONSOLS. Imperial 2J per cent, consols are quoted at j £55 10/-, compared with £56 last week. At j this date last year they were quoted at £SB 10/- to £59. WAR LOANS. The 35 per cent. British war loan 's quot- ' ed at £Bl, compared with £B4 10/- last week. < The 4) per cent. British war loan ia | quoted at £95 10/-, compared with £96 last ■ week. COLONIAL STOCKS. The following are the quotations for colonial stocks compared with the prices ruling last week: — Last This ;

MISCELLANEOUS. Shares.—Waihi, Sl/n to 35/9. Wheat.—Wheat is firm, but little is offering. Flour is firm. The Board of Trade re- I gulat'ons have checked forward buying,: hut there is a good demand for spot. Aus-■ trnl'nn patents are quoted at from 59/-! to no/c. Peas and Beans.—Peas are very firm. New j Zealand maple and partridges are nominally! 85/-. Beans are dearer. New Zealand beans are not offering. Oats.—Oats are firm. Old Bahia Illanca, I ex quay, on spot 16/-, forward 117/-. Metals.—Copper: On spot, .flit 10/-, forward £K!O 10/-, electrolytic £lO4. Lead:: On spot, aO 10/-, forward £29 10/-. Spelter: On snot, £SB, forward £59. Tin: £l9l 12/0 to £193 12/fl. THE WOOL PURCHASE. IMPERIAL GOVERNMENTS TERMS. By Gable. —Press Association. — Copyright "Tlie Times" Service. LONDON, November 21. The City editor of "The Times" says that the British Government purchased the I New Zealand wool clip at 55 per cent, increase on the 1913-1 i prices, providing ton- < nage and sharing the profits in open sales ! after the military requirements arc tilled. EXCITEMENT AT BRADFORD. Australian and N.Z. Cable Association. (Received November 25, 10.10 a.m.) LONDON, November 21. I Bradford is excited. Everybody is asking! what effect tile closing of the Australasian i markets will have on the Cape; also who-j ther the London sales will lie held. All quo- ' tations for tops have been withdrawn, and it is impossible to give reliable prices. | All kinds of rubbish and old stock are ; being cleared at advanced prices. The mar- j kets here are in a state of semi-panic. SHORTAGE OF RENNET. EXPERIMENTS IN AUSTRALIA. By Cable. — rress Association. — Copyright. SYDNEY, November 21. | With a View to relieving difilcultics I consequent on the scarcity of rennet, a ! trial sample of calf veils was sent to the Bcga cheese makers for experiments. It is reported that the trials were very sat- I isfactory and farther lots are being forwarded. I

WORLD'S WHEAT CROP. 27 PER CENT. DECREASE. Australian and K. 7.. Cable Assort'alion. ROME, November 23. It is estimated that the world's 1910 wheat crop amounted to 2,222,000,000 bushels, or 27 per cent, less than the 1915 crop. BIG WHEAT PURCHASE. FROM UNITED STATES. "The Tirnvx" Service. LONDON, November 24. It is understood that the British Government is purchasing 1,500,000 quarters of wheat in the United States. LAST WEEK'S EXPORTS. Press Association. WELLINGTON, November 24. New Zealand produce entered for export last week was valued at £390,738, including:—

TALLOW. The New Zealand Loan and Mearcantile Agency Co., Ltd., has received the following cable from Ixmdon: —We quote present spot values for the following descriptions:— Fine mutton, 53/3 per cwt.; good beef, 51/0 per cwt.; mixed, 46/3 per cwt.. Market firm with upward tendency.

TO-DAY'S POULTRY MARKET. Messrs. .7. «15. Merrett and Coy. report » very large entry of poultry to-day. The demand was excellent. Several lines of prime ducklings, and table chickens, re c alised I.V- per pair. One remarkably fine line of table chickens made a record price of 15/2. Hens are coming forward more freely, and the market is likely to ease. Table chickens realised 7/- to 15/2, ducklings II- to 13/2, hens 4/6 to 9/4, pullets 5/6 to 11/-, ducks 8/- to 11/-, goslings 9/- to 13/-, geese 7/- to 10/-, turkey hens 9/-, to 16/-. turkey gobblers 17/- to f.O/- all per pair. A sale of" roses from Mrs Bolton resulted in t'l being raised for the Red Cross Fund. THE EGG MARKET. The supply of eggs continues good, while the demand is firm, and prices have increased. Canterbury F.gg Circle first grades are 1/.1, seconds 1/2 per dozen. The cable news in this issue accredited to "The Times" has appeared in that journal, but only where expressly stated is such news the editorial opinion of "The Times."

week. week. New Zealand 4 p.c, 1020 . . 84 84} New Zealand 3J p.C, 1010 . . 73 72} New Zealand 3 p.c, 1015 . . »>3] 611 N.S.W. 4 p.c. 1933 . S.'^ 83 N.S.W. 3} p.c, 1918 95 J 00 n.s.w. :n p.c., io20-:io .. . 72" 71; N.S.W. 3 p.c, 1935 ! 003 oo-l Vic. 4 p.c, 1020 . 04 94 Vic. 3£pp.C, 1021-2(5 . 83} 83 J Vic 3} p.c, 1020-40 . 703 70S Vic 3 p.C, 1020-10 . 628 62S Queensland, 1 p.c, 1915-23 . . 88 i 874 Queensland 3J p.c, 102130 . . 85 & 85:f Queensland .'! p.c, 1022(7 . . 03 03; S. Australia 3* p.c, 1»:',0 . . 731 73 S. Australia 3 p.c, 191S . . 59 5i)J \V. Australia 3i p.c, 1915-35 . . 741 W. Australia 3 p.c., 1015-35 . . 70 70 Tasmania 34 p.c, 1020-40 . 72? ''"i ! Tasmania 3 p.c, 1020-10 . , C6J 66 i

£. Butter 45,798 Cheese r>5,2:« Meat 152,280 Wool 53,408