MONEY MARKET.

Dominion, Volume 11, Issue 205, 18 May 1918, Page 10

MONEY MARKET.

The Bank of England dlsoiunt rate was on January 2, 1914, redur?l from 5 to 41 per cent., on .January U I, ,fas reduces to 4 per ceut., and on tannury 23 to 3 per cent. On July 30 tho rato was railed to 4 per cent., on July SI it was raißtsd to 8 per cent., and en August 1 it was furthor advanced to 10 per cent. On August 6 the rate was reduced to 6 per cent., on August 7 it was further reduced to 5 per cent., on July 13, 1916, it. was raised to & per cent., on January 12. 1917, it was r°duced to 61 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 31 per cent., an compared with 31 per cent. last week, and 43 aer :ent. last year. Short loans are quoted at 3i per cent., as against 35 per cent, last week aud "8 per cent. last year. COLONIAL AND OTHER PRODUCE. Wheat.—Quiet. ' Fliur.—Dull; unchanged. Oats, Poas, and Beans.—Firm, at full rates. Sugar.—Unchanged, Butter.—There have been further large arrivals of colonial butter. There is some agitation for an increased ration, but an increase is not likely to be lnaJo at present owing to tho desirableness of maintaining BtOCltß. Cheese.—The Allied Commission lias fixed tlie purchase price of the exportable surplus of Canadian cheeße at 22 to 23 cents per lb. on the quay at Montreal, which is 1J cents above the 1917 price. Tlie trado anticipates a corresponding advance for Außtraliaii, and New Zealand cheese. THE METAL MARKETS. Tin, £367 per ton. Other metal 6 are unchanged.