COMMERCIAL.

Sun (Christchurch), Volume III, Issue 884, 9 December 1916, Page 2

COMMERCIAL.

LONDON MARKETS. BANK OF ENGLAND RETURNS. B;i Cable. — l'rrr* Association.—Copyright. Australian and \ '/.. Cable Association. LONDON, December 7. The Hank of England returns lor the week ended Wednesday, l)< i-cmbcr 7. arcas follow: ISSUE DEPARTMENT. Notesincir- Govt, debt £11.015,000 eolation £37,858.000 OthersecuSotes in re- rities .. 7,485,000 serve .. 31,875,000 Gold coin & bullion .. 51,233,000 Authorised 172,733,000 circulation £72.733,000 BANKING DEPARTMENT. Proprietors' Govt, sccucapital ..£11,553,000 rities ..£12,188,000 Public de- Other seenposits .. 58.717,000 rities (adOther de- vanccs) ...106,750,000 posits ..108,916.000 Notes in rcilest, 7-day serve .. 31,875,000 and oUier Coin .. .. 1,659,000 bills .. 0,250,(100 £185,172,000 £185,472,000 COMPARISON WITH LAST YEAR. Pee. 7, Dec. !>, 1916. 1915. Coin and bullion .. £37.858,000 £50.136,000 Reserve 36,534,000 31,567,000 Proportion of Reserve to liabilities .. .. 29.70 21.20 Notes in circulation .. 37,858,000 34,155,000 Deposit liabilities .. 107,003,000 142,643,000 Government securities 12,188,000 32.X40.000 Discounts & advances 100,750,000 92,910,000 BANK OP ENGLAND RATE. 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 to 10 per cent, on August 1; was on August 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 0 per cent. MONEY MARKET. Short loans are quoted at 5 per cent., unchanged since last week. At this date last year the quotation was 43 per cent. Three months' bills arc quoted at ;>± per cent, compared with 5 9-10 per cent, last week. At this (late last year the quotation was 5} per cent. LONDON STOCK EXCHANGE. the Stock Exchange is somewhat depressed, owing to the political crisis and the Rumanian situation, but there is no pressure to sell. CONSOLS. Imperial 21 per cent, consols are quoted at £54 10,'-. compared With £55 10/- last week. At this date last year they were quoted at £SB 17/0. WAR LOANS. The 31 per cent. British war loan -s quoted at £B3 10/-, compared with £B4 last week. U this date last year the quotation was £B9 2/0. The 4J per cent. British war loan la quoted at £95, compared with £95 10/- last week. At this date last year the quotation was £97 10/-. COLONIAL STOCKS. The following are the quotations for colonial stocks compared with the prices ruling last week:-

week, week. New Zealand 4 p.c. 1920 .. 84j 84| New Zealand 31 p.c., 1940 .. 73 71| New Zealand 3 p.c., 1915 .. 63J b3i N.S.W. 4 p.c. 1933 .. .... .. 831 82 N.S.W. 31 p.c, 191S 96 90 N.S.W. 3* p.c, 1920-30 .. .. 'U '°« N.S.W. 3" p.c, 1935 f>9* 695 Vic. 4 p.c, 1920 931 92J Vic. 31 p.c, 1921-2G 83? 811 Vic. 3J p.c, 1920-49 70} 70£ Vic. 3 p.c, 1929-49 02} 61? Queensland, 4 p.c, 1915-25 ~ 88 801 Queensland 3J p.c, 1921-30 .. &~>l 841 Queensland 3 p.c, 1922-47 .. 03 G2 S. Australia 31 p.c, 1939 .. 73 711 S. Australia 3 p.c, 1916 .. 58* 58 W. Australia 3] p.c, 1915-35 .. 75J 751 W. Australia 3 p.c, 1915-35 .. -70} 70 Tasmania 34 p.c, .1920-40 ... 72J 71 Tasmania 3 p.c, 1920-40 .. 66 Go MISCELLANEOUS.

Butter.-—Butter is very firm. Business is restricted owing to short supplies. Danish is about 22/-, and Australian, which is pr::ctie.\llv cleared, choicest salted 200/- to 208/-, unsaltcd 212/-, lower grades 194/- to 200/-. There i* no New Zealand butter offering till the Rimutaka discharges. Argentine unsaltcd 204/- to 208/-.

Cheese.—Cheese is Arm. Canadian 120/lo 138/-. Retailers are apprehensive about supplies, fearing that the (iovernment will release very little.

Wool.—The Bradford market is absolutely disorganised, mid no business is being done. Quotations nre impossible, but the market closed rather cheerier and fuller. Afterwards the conference, at which all sections were represented, carried a resolution similar to that adopted in London on Friday. At the meeting a well-informed speaker said that the sales would he held next week, and would continue to be held for wools which the Government did not require. Wheat and Flour.—Wheat is firm and quiet. Flour is firm. Australian patents 59/- to 59/0. Oats.—Oats are hardening. There are no La Plata oats offering. Sugar.—Sugar is unchanged. Metals.—Copper: Spot, £if)2 10/-; forward, £ll3 10.'-. Electrolytic, £lO7 10-. Tin: £IBO 12/6 to £>SB 12/ G. Lead: Spot, £3O 10.'-; forward, £29 10/-. Spelter: Spol, £SB; ■ forward,■ £55. Silver: 3(iid per standard ounce. Shares. —Union Steam Company, 50/-; Waihi, 34/6 to 35/6. TALLOW. Hie following cable was received by Dalgetv and Company, Ltd., from their London office, dated December fl, 1916:—At the weekly auction prices fur first grade mutton and beef were sixpence per cwt. (barer; foi' other sorts the demand was quiet and prices unchanged. TO-DAY'S POULTRY MARKET. Messrs J. B. Merrett and Co. report a large entry for their first Christmas sale, over 3000 birds being entered, liens eased in price, the heavy demand for shipping having eased, and larger' quantities coming forward to the market. Table chickens, ducklings, and goslings are in good demand for Christmas orders. Table chickens realised (i/6 to 11/fi, ducklings 7/- to 12/-, goslings 9/- to 12/0, hens 3/- to 7/6, pullets '>/- to 12/-, turkeys 17/- to 30/- all per pair. The egg market continues well supplied at last week's prices.

PROPERTY SALES. Messrs Pyne and Co. offered for sale in their land salerooms to-day, on account of the trustees of H. Mcllraith, 111 acres of land at Springfield. The property was sold to Mr James Seymour, of Springfield, for £lB 10/- per acre. Two oilier properties were offered—l2o acres at Cicbbie'.s Valley, on account of Mr F. A. H. Manson, and 371 acres at Holleston, on account of Mr F. Haughey—but failed to bring a bid. The New Zealand Fanners' Co-operative Association offered two blocks on account of Mr 11. 11. Hudson, situated on Buchanan's Road. Lot 1, of 50 acres, was passed at l' 5!», and Lot 2, of 50 acres, was passed at £6O.