LONDON WOOL SALES.

Dominion, Volume 5, Issue 1378, 2 March 1912, Page 8

LONDON WOOL SALES.

POSTPONED INDEFINITELY. By Telegraph—Press Association-Copyright London, February 29. Owing to the coal strike the wool sales have bceu postponed indefinitely. Messrs. DalgeSy and Company, Limited, Wellington, report having received the following cablegram through their London office, dnted February 29:—"Owing to the coal strike the wool sales have been postponed indefinitely." Messrs. Levin and Co. have received the following cablegram:—"Wool sn\e postponed pending settlement of coal strike." The New Zealand Loan and mercantile Agency Company. Limited, have received the following cablegram from their London house, under date February 29:—"Wool sales postponed sine die." Messrs. Murray, Koberts, and Co., Ltd.. have received tho following cable message from their London friends. Messrs. Sanderson, Murray, mid Co., with reference to tha March wool sales:—"The second series of ial<H h*TO boon postponed lndoflnitiely, owing to tho coal strlko."

BANK OF ENGLAND RETURN. By Telearraph—Press Association—Oopyrlihi (R-ec. March 1, 7.55 p.m.) London, March 1. The Bank of England return issued for tho weak onded Wednesday, February 2S, is as under:— Ibbce Dkpahtueni Xcte I«sn«... £57.170,000 Gov.dob» ... fn.OH.OOO Other eecuri tlos ... .. 7,434,000 Gold 88.730.000 £57,179.000 £57.179,000 BINKTNQ DEr-AnHIEST. Proprietors' Govt, securlcapital £14,553,000 tici £15,110,000 Public da- Other secuviposits ... 81.571,000 ties 38,861,000 Oilier deposits . ~, 44.830.000 Notoi ... 29,190,000 Best, 7-day Hid other bills 3,555.000 Coin .- ... 1,342,000 £81,500,000 " £5U09,000 The leading items of the Bank of England return afford the following comparison :— This week LasSweek. Last you Bullion 35.730.000 38.643,000 37.01!3,00a Reserve 3O.Kfa.OOU 30,070,000 29,031.100 Note circulation 1i7.9K1.U0J '27.685.000 ■27,5£0.0'n Public Deposits 21.571,000 12,727.000 19,022,000 Other Deposits 44,830,000 40,283.000 80,241,000 Proportion of reserve to liabilities ~. 41.07 43.54 49.69 OOYEENHENT BEOUEITIEB. The following are the latest quotation for GoTernment securities, with a e»iaparlion of those ruling last week:—

BANK RATES OF DISCOUNT. The Bank of England rate was, on December 1, 1910, lowered from 5 to 41 per cent.; on January 27 it was lowered to 4 per cent., on February 16 to 31 per cent., and on March 9 to 3 per cent. On September 21 it was advanced to 4 per cent., and on February 8 it was reduced to 35 per cent. The Bank of France rato was reduced from 35 to 3 per c.2nt. on January 23, 1908, and continued at the latter figure until September 21, 1911, when it was raised to 3J per cent. The Imperial Bank of Grrmany reduced its rate from 5 to 41 per cent, on February 6, and on February 19 the rate was further reduced to 4 per cent. On September 19. the rate was raised to 5 per cent. MARKET EATES OF DISCOUNT. The following are tho market rates for best thres months' bills:— London Paris Berlin rate.- rate. rate. per cent, per cont. per rant. Thin week 3j 23 41 Last week 3 7-16 23 31 Last year 2 9-16 2J 3 Short loans are quoted at 31 per cent., as compared with 3J to 3ij per cent, last week, and 33 per cent, last year.

COLONIAL AND OTHER PEODUOE. Butter is very dull. Buyers are reserved, aud prices generally are easier. Danish is unchanged at 1375. to 1335.; choicest Australian, 1245. to 1255., occasionally 1275.; secondary, 120s. to 1225.; choicest New Zealand, 128s. to 130s. Ohcoso is firm. Ifsw Zealand, 725. to 735. A considerable quantity of the Ruahine's shipment was heated apparently prior to shipment, and the underwriters have allowed Bd. to 2s. per cwt. Sugar is weak. German beet, 88 per cent, net titre. sd. lower at 15s. 7d. per cwt.; first mark granulated, f.o.b. Hamburg, 2d. lower at 13s. 6d. Bradford Tops.—Business .is restricted, and prices am unchanged. The strike is checking the demand for all classes of produce, aud rotailerß are restricting operations in view of tho reduction of tho workers' spending powers. Wheat—Trafts is stagnant, and buyers are afraid to operate beyond immediate requirements. Two Australian cargoes have been sold at 38s. and 38s. 3d. Holders aro asking 375. 3d. for South Australian February shipment; 365. 9d. for Australian February-March shipment; 375. 4»d. for parcels afloat; 365. 7id. for March-April shipments. Little Australian wheat is offering on tho spot, and is quoted nominally 40s. 6d., and Now Zealand at 375. 6d. to 395. Flour is quiet. 'Australian, on spot, 255. 9d. to 26a. 3d.; on passage, 255. 3Jd. Oats—The market is firm. New Zsoiand supplies are exhausted. La Plata, Febru-ary-March shipment, 17s. Peas are nuiet. New Zealand, on Bpot. 375. 6d. to 38s. 6d. Beans are firm. No Now Zealand consignments are offering.

THE METAL MARKETS. Copper, on spot, 7s. 6d. higher at £64 per ton; three months, 6s. 3d. lower at £64 Is. 3d.; electrolytic, 10s. higher at £67. Tin, on spot, 755. lower at £192 10s. per ton; three months, £188 15s. Pig-iron, 4d. higher at 495. 3d. per ton Lead, soft foreign, 2s. 6d. higher at £15 16s. 3d. per ton.

Variations H compared Pries. with last week £ s. <I. 21% Imperial Consols 78 7 6 15 S . lower 4 ,.N.S.W.1933Jan.July 105 10 0 Unchanged 35 ..N.S.W.lUlS.Uar.-Scp. 97 0 0 Unchanged 3 ,.K.S.W.lU35A»I.-Oct. B7 0 0 Unchanged i „Vic. 1920Jan.July 10110 0 Unchanged ai „Vic. 11M-Ii Jan. July DO :o 0 Unchanged 3 „ Vic. lSi0-19Jan. July 8i 10 0 Unchanged 3} „S,A. 1916 Jan. July 97 0 0 Unclianged 3 ,S.A. WW Jan. July 83 D 0 Unclianged 4 „QTdl915-24 Jan.July 10J 10 0 10s higher Si „QTdl924-30Jau.July £6 10 0 Unchanged 3 ..QTdin&tfJan.-July 84 10 0 Unchanged I ,.N.Z. 1929May-Nov. 101 2 6 Unchanged 3S „N.Z.UM0 Jan.July 07 10 0 ilucuangcd 3 ..X.Z. ll>43 April-Oct. b7 10 0 Unchanged 35„\V.A.19-20-10,May-Nov 0310 0 Unchanged 3 ,W.A,1915-35May.Xov M 0 O Ui.chaugod 3)„Tas. JWOJan.July 1'6 0 0 Uucli-uged il ..Tag. 1SB0-4Q Jan. July to 0 0 Unchanged