MONEY MARKET

Dominion, Volume 11, Issue 77, 24 December 1917, Page 8

MONEY MARKET

nJ to °rf ®"Bland discount rate was on January 2, 1914, reduced from's to 41 riflS 0 * January 22 it was reduced to per cent., and on -January 23 to 3 per cent On July 30 the rate was ra'sed " 4 pei cent., on July 31 n waa ra j t0 8 per cent., and on August 1 it- was fur- < tiL a l V ( ancedlto i° P er cent - On August , lite reduced to 6 per cent., on August 7 it was further reduced to 6 per cent., on July 13, 1916, it was raised to 6 Janl ™y 1917. jfc was reduced to 51, per cent., and on April 5 it was further reduced to 5. per cent. • OPEN MARKET RATES. The open market discount rate for' three months bills is 4j per cent., as compared with 4? per cent, last week, and 59-16'ner cent. Itvrt year. • Short loans are quoted at 43 per cent., as against 41 per cent, last week, and 5 per cent, last year.

COLONIAL AND OTHER PRODUCE. The distribution of butter is proceeding slowly, and all supplies are' rapidly absorbed directly they reach the retailers. Following on negotiations with the importers, the Food Controller will pay 2245. per c'wt. and for two recently-ari ived New Zealand cargoes, aggregating 54,000 boxes. Wheat—Unchanged; small sales. . Flour.—Firm. Oats.—Firm. . Pehs.-Stoady. Tasmanian and New Zealand maples 130s. 6d., 140s. > Beans—Slow; unchanged. Sugar.—Unchanged. THE METAL MARKETS. Tin.—£3o7 ss. per ton; three months, £297 15s. per ton. Silver.—43,\d. per ounce. Other metals are unchanged.