COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1782, 21 June 1913, Page 8

COMMERCIAL ITEMS.

WORLD'S WHEAT PROSPECTS. At tho present juncture, when it it is absolutely certain that irrespective -of tne 8,250,000 bushels of wheat exported -from New South Wales this season, and eliminate inK every ounce reauired for seed ana feed purposes, there still remains a Jarce exportable surplus, tho holder requires to keep closely informed .as to the position overseas. Until such time £is our exportable surplus hoe -been shipped away this market must be governed by outaido prices. Therefore, a knowledge of the harvest prospects of the leading producing countries of the world must serve as a guide to.buyers and sellers. According to Beerbohin's "Corn Trade List to hand by thin weck's-mail, the outlook for nearly all countries was, at least, very satisfactory a month ago. The weather in the nltc 4 Slates had been generally favourable) ana the crop outlook was reported quito promising. The "North-western Miller cablcd that seeding was practically 'toshed m , Southern Minnesota, and South . uar kota, and was proceeding satioiactorily in Northern Minnesota, and North Dakota. Kains had been beneficial in tne winter wheat States. Spring sowings in Canada were well advanced, and it was thought most probable that there would, be an increase in the area sown. The outlook for winter wheat was much more favourable than last year, when 345.000 acres were winter killed. All reports from Bussia described the outlook for that kmpire as very satisfactory. In Franco weather conditions had been favourable, and a. crcat improvement was shown, in tne •appearance of the crops. The spring-sown crops had germinated well. Reports re.atine to the crops of Germany, Austna-Hun-eary. and Italy were all promising.. Argentina. had experienced light rains in mont districts.

Customs duties collected at tho port of Wcllinjton yesterday amounted to tispw 16. 3d-. SOUTHERN GRAIN MARKET. (Br Telesraph.—Preai Aesociatloa.i Chrlstchurch, June 23. Thero is still no movement in tie local cram market. There is somo inquiry from the North Island for wheat, but in oats there appears to be nothing doing. Oatsheaf chaff is dull of sale, but thero 13 no change in price, £3 ss. at country stations- being the rulinK quotations. Tho potato market is somewhat unsettled, t.lin northern market being fairly well supplied from the south, though snipments ing arc not in very prood condition. Local Erowers are now holding more firmly, having pitted their crons. and are now generally asking £4. Recent purchases have been made at £3 10s. to £3 155., at- country stations, chiefly at tho former figure, for immediate delivery. It- is reported that £4 has been paid for July delivery. Cowgrass is now being offered freely, and tho sample Is excellent. The ruling prico is 9d. to lOd. per lb. LONDON MARKETS. Messrs. Dalgety and Company, Ltd-, Weilington, has received the following cablegrams from their London office under dato June 19—Tallow: Better auahty beef and mutton is neglected. Other descrictions are ot par to 3d. per cw». liieSvr. Frozen meat: The market is unchanged, except heavyweight'lamb, which is sd. per lb. lower. BANK OF ENGLAND RETURNS. By Telegraph—Press Association—Copyiight (Eec. Juno 20, 9.25 p.m.) London, Juno 20. The Bank of England return issued for the week ended Wednesday, June 18, is as under:—

The leading Items of the Bank of England return afford tho following compan-

GOVERNMENT SECURITIES. Tho following aTO the latest quotations for Government securities, with a comparlßon of those ruling last wcek:- | I Variation

cent. It was reduced to 41 per cent, on April 17. 1913. The Bank of France rato was reduced from 34 to 3 per cent, on January 23, 1508, and continued at tho latter figure until Scotember 12. 1911, when it was raised to 31 pof cent. On May 17 1912, it was reduced to 3 per cent., on Octobcr 17 it was raised to 31 por cent., and on Octobcr 30 to 4 per ceut. MARKET BATES OF DISCOUNT. The following are the market rates for best three months' bills: — London Paris Berlin rate, rate, rate, per per per '' cent. cent. cent. This week 41 33 5Z Last week 4 7-16 33 53-8 Last year 2 15-16 22 4i Short loans are quoted at 3J por cent., as against 31 jier ccnt. last week, and 21 per cent, last year. COLONIAL AND OTHER PRODUCE. Wheat is quiet. The reports on the European crops arc favourable. Tho market has I been steadied by pessimistic reports from America and Canada, where drought has damaged the spring crop. An Australian cargo sold at 376. 3d.; Australian, on snot lias a retail demand at 395. 6d. I'lour is quiet. Australian patents, June shipment, is offered at 265. 3d. ■ Oats are nesrlected. linest A Grade Gartons are nominally at 255. to 255. 6d. Beans are slow of sale, f.a.q. is quoted at 40s. per 5041b. Peas, on spot, aro scarce, and lirml.v held; forward lots aro easier; 41s. 3d. has been paid for f.a.q., 'June shipment. . Butter.-The demand is quiet. Danish is very firm at 119s. to 1215.; others aro unchanged. Colonial is neglected owing to plentiful supplies. Cheese is firm. New Zealand coloured is quoted at 595., and white at 61e. ■Sugar—Cermau beet, 88 per cent, net litre, 3d. higher at 9s. sd. per cwt.;. first mark granulated, f.o.b. Hamburg, 2d. higher at 12s. 3d. Bradford fops—The market is unchanged, and business is restricted. THE METAL MARKETS. Copper, on spot, 10s. lower at £64 17s. 6d. per ton; three months; 7s. 6d. lower at £65: electrolytic, £69 ss. Tin.—Three months, 60s. lower at £205 P °Load, soft foreign. 255. higher at £21 10s. PC pig-iron.—Middlesboro" No. 3, 2d. higher at 555. per cwt. / ' Spelter, 2s. 6d. lowoer at £22 ss. peV ton. VICTORIAN PRODTJCE MARKET. By Telecraph—PreßS Association—Copyright

Melbourne, June 20. Wheat. 3s. Bid. to 3s. 9d. Flour, £8 ISs. Bran and jiollard, £5. Barley, English malting,- prime. £4 to £4 Is.; Cape, £2 10s. to £3 Is. Oats, Algerian milling, 2s. .3d. to 2s. 4jd.; feed, Is. lid. to 2s. 2d. Maize, 4s. 3Jd. Potatoes, £3 to £4 15s. Onions. £6 10s. to £7.

INVESTMENT SHAEE9. A 6ale of Ohristchurch Meat shares at £15 2s. 6d. was the only transaction recorded yesterday. The quotations were as Undcr: ~ Buyers. Sellers. ; • £ e. d. £ e: d. National Bank (old) ...... 5 2 0 5 J 6 N.Z. Loan and Iter, (pref.) S6 10 0 98 0 0 N.Z. and RiTOr Plate ... 119 9 Well. Trust and Loan 7 4 0 - Napier Gas (£10) 5 S S Napier &as (£5) 8 0 0 Well. Gas (pref.) 1 _V Christehurch Heat £ J , , Union Steam 2 2 0 2 2 6 Mosgiel Woollen. - 3 12 0 Taupiri Coal * i 2 Westporl Coal J ! ? Tarinsamutu Totara 2 3 «S Golden Bay Cement 10 0 Manning and Co 4 2 0 Sharlond'fl prefcrcnco .... — 1 * 0 Ward and Co 5 2 0 IW.P.C.A. (£1) - 18 6

Issui: Department NoHIsim «3.3S9.K» Gov.debS £11,015,000 Other securi* tios 7,434.000 Gold 36.740.000 £55.389,000 £55,369.000 Bisnsa Depamhest. 'SSST £14.553.000 "° U^1 2.733.000 Jw«m °Sr CU ":. 32.S79.C0fl ... 40.960.000 K.tM ... 27.136.COO Rest, 7-day and ot'dsr „ bills 3.255.000 Cola... ... I,6i5,000 £73.818,000 £73,8(8,000

This week last weak Ijjs» y«ar. £ £ £ million 36.W0.000 36.277.000 10.360.000 5"'"°" 28 711.000 27,010.000 31.384.000 MtodnM 2B.253.0M 28.3S9.000 g.576.000 Pnhlio Deposits 15,OSO.OOO 13,816,000 23.381,000 oltoD?pSltl 10.860.003 10,111.000 10.527.000 Proportion of Uabilltias !° 19.21 51.73 <9.09

compared "" Frio*. with last weak. ~ £ .8. d. 51% Imperial Consols 73 0 0 r>s lowor i N.K.W. 1933 Jan.-July 101 0 0 Unchanged 34 "N.S.W.lKIO-WMr.-Sp 07 0 0 Unchanged Hi "N.S.W.-1IB0-50 63 0 11 Mis lowor 3 "N.3.W.1825Apl.-Oct 62 0 0 Unchanged 4 Vic. 102O Jan.-July W 0 • Unchanged jJ "Vic. ll>21-6 Jan.-July 03 0 0 Unchanged 3l !'. Vic.-tlKSHO 01 0 0 Unchanged 3 ..Vic.lffiiMMan.-July 77 0 U Unchanged 3i S,A. 101G Jan.-July 60 0 0 Unchanged 3 "S.A. 1316Jan.-July 73 0 0 Unchanged 4 "QTdl915-24 Jan.-July 1)9 0 0 Unchanged ili ',QTiU9.!2-i7Jan.-July 03 0 0 Unchanged 3 " y'l'd l?Jan.-Ju!y 7ti O O Unchanged 4 "N.Z.1920May-Kov. 1IW 0 0 Unchanged 34 "n.Z. I'.ll'MOJan.-July 63 U O Unchanged 3 "jt.Z. lffiOApril-Oofc 77 0 0 Unchanged 34 ,','W.A. 1013-35May-Nor 88 0 0 Unchanged 3 ,'\V.A,101o-35May-Nov til 0 0 Uncliaugod 3* Tas. IffiOJan.-July 88 0 0 Unchanged 3 , Tas.lMMO Jan.-July bl 0 0 Unchanged