LONDON MARKETS.

Ashburton Guardian, Volume XXXVI, Issue 3568, 30 September 1916, Page 2

LONDON MARKETS.

(Per Press Association—Copyright).

LONDON, September 29. Bank of England Rate.—Tho Bank of England discount rate was raised from 3 per cent, to 4 per cent on July 30, 1914, to 8 per cout. on July 31, and <to 10 per cont. on August 1, was, on August 6, lowered to 6 per cent., ajul on August 8, 1914, to 5 per cent., at which it 1 remained until July 13, 1910, when it was raised'to 6 per cont. ISxchequor -Bonds.—The announcement regarding the 6 per cent Exchequer bonds has weakened most gilt-edged securities. (A message published yesterday, dated London, September 27, stated that the Bank of England announces that it will not receive further applications for 5 per cent. Exchequer bonds for 1919, but will make a now issued bonds shortly. It is officially stated that theso bonds will be 6 per cent with a throe years' currency.)

Money Market.—Short loans jure quoted at 5 per oent., unchanged since last week. At this date last year tho quotation was 4g per cent.

Three months bills are ,quoted at 5 9-16 per cent., unchanged since last week. At thie date last year the quotation was 4i£ per cent. a War Loans.—Tho 3^-per cent. British war loan is quoted at £88. compared with £86 10s last week. Tho 4,V per cent. British war loan is quoted at £95, compared with £96 2s 6d last week.

Wheat.—Wheat is quiet and tending to lower prices. Flour is firm. Australian patents d9s 6d to 51s 6d. Oats.—Oats are dearer. La Platas are not offering. Peas and Beans.—Peas arc firm. Now Zealand Maples, 60s to 655. Beans are firm, tending upwards. Butter.—Butter is very firm. Danish 208s to 210s. New Zealand choicest, 192s to 1965. Argentine, 190s to 1945. A few Canadian lots, 188s to 1925. A fair quantity of United States, 184s to 188s. There is much uncertainty in the market owing to lack of definite information regarding the Australian Government's fixing of prices, consequently c.i.f business is at a standstill.

Cheese.—Cheese is very firm. Canadian and New Zealand, spot, 106s to 108s. Canadian, c.i.f, prompt shipment, 108s to Ills 6d. Wool.—The Bradford wool markot is firm and cheerful. There was moderate business in sixty-fours at 53£ d, and sixty's at 52£ d and 51 \d.