COMMERCIAL

Timaru Herald, Volume XIIC, Issue 13979, 14 August 1909, Page 5

COMMERCIAL

TIIK LOX|)()\ MARKETS

Press -Association-liy TelegraphOopvright Received S p. m ., „ f r„ sl , |;)|| K

I'ONDON, Au^nsl, lit. 'I lip Rank dI England returns show tho cold and coin, to ho £37,581,000; reserve, .£27,53."j,000 ; proportion of.reserve to liabilities, 51.01; in circulation, £29,755,000; public deppsits, £9,402,•100; other deposits; £41,292.000; Government' securities. £ 1.5,3fi0,000 ; other securities, £25,39(.!,000.

'I lie hank rati 1 of discount is 2.V per cent, ; short loans, 1 per oput. : three months hills, London 1 7-IG, Paris li, llerlin 'J fl-Ui.

New South Wales 4 per crnis. 107, 3 -i l H r 0«A, 3 per cents. 87;. Queensland 4 per cents., KH. Tasmania)) 31 ])er cents., 91 j. AVostern Australian 31 per cents., 98'. Ihe brilliant weather, lower American prices, and pressure to sell new Russian and Canadian grain, are combining to depress the wheat markets. There is little inquiry for cargoes; holders are asking 42s for wheat afloat. Fifteen thousa.nd quarters of the new crop, December-January shipment sold at 30s. There is a small demand for Australian on spot at 45s 3d; New Zealand longberry 455, shortberry 44s 6tl. The flour market is inactive; Australian patent makes ' are quoted in London at 325, Glasgow at 32s 6d. ' Oats are meeting with fair inquiry; New Zoalands, 20s 8d to 21s 3d is paid for Cartons and sparrowbills by near steamers, and 19s Gd to 20s is asked for July shipment. A fair, trade is doing in La Plata oats at 10s 9d.

The butter market is quiet, and prices arc unchanged. There is no demand for colonial, and the Pericles' shipment lir.s all been stored. Copper, 011 spot, 59 13-16; three months, 60 J ; eleetrolyctic, 61. Tin, on spot, 13oi; three months, 136 J.

Lead, 12 0-16d\ ' - Sugar, Gorman, li; first marks, 13s

At the Bradford wool market s a fair business is being done; forties, 124!; forty-sixes, 1-Ud; common sixxties, 25.U1: super, 26Ad; sixty-fours, 27U1. MOISTURE IN BUTTER. Per Press Association. AUCKLAND, August 13. In the Magistrate's Court to-day, the New Zealand Dairy Association wore charged that on February 26th last they exported, from. the Dominion certain butter which contained- more than 16 per cent, of water. The hearing of the ease was adjourned until August. 18th. The information is laid under the Dairy Industry Act, which prohibits the export of butter containing more than 16 per cent, of moisture. It is the first, case of- the kind that has ever come before the Courts in New Zealand, but it will be followed, it is understood, by others in other provinces. It is of particular importance in view of the complaints which have reached New Zealand from London as to excess of water in butter. It is alleged that the butter'in respect of which the defendants are charged contained .some 23.21 per cent, of moisture.

Messrs Dalgety :uul Co. report under (Lite London, August Inst telegram tallow in general is lower by 3d to fid per cwt. The demand is limited." London, August 12th—"Less demand lor frozen meat owing to a, decreased retail. business, consequent U|jon iho very Hot weatlier. The frozen lamb market is weak, any change in prices of prime Canterbury being in favour of buyers, whilst for other descriptions prices are .Jd.. to' Jd, lower. Any change in prices of heavy frozen mutton is in favour of sellers; for other descriptions the market is weak, but prices are not qnotably.. /•hanged. Prices of frozen beef are.Jd higher for forcqu a rtprs and unchanged for hindeuarters."