FINANCIAL CABLES

New Zealand Times, Volume XXXVII, Issue 8338, 25 January 1913, Page 6

FINANCIAL CABLES

BANK AND STOCK EXCHANGE REPORTS. (Received January 24, 10.15 P.m.) LONDON, January 24. BANK OP ENGLAND EETDEtf. The Bank of England return lamed for the week ended Wednesday, January 22ud, U as under: Issun DZPAMIIBXX Note line £53,373.000 Gov dab# £11,015,000 Olhsr curitlas 7,434,000 Gold .. 34,9'-4,000 £63,373,000 £63,373,000 Bxxtixa Dimmn. Proprietors’ Gov. sscarlcapital .. £14,553,000 ties .. £13,035,000 Public de- Other seixwlta .. 13.933,000 curitlos.. 81.751.009 Other de. Notei .. 26.709,000 posits 39,320,000 Cola .. 853,000 Rest. 7-day and other bills .. 8.533,000 £71.348,000 £71.348,000 Tin leading Items of tbs Bank of Eajlsnd return atlord the lollowlnj comparisons:

CONSOLS AND AUSTRALASIAN STOCKS, Current quotations for Consols and Australasian Government stocks, compared with those ol last week, and the corresponding period ol last year.

•Jntorcutpayablo hi May and November. lOntereat payable in January and July, ilnterest payable in April and October

THE MONET. MARKET. The Bank of England discount rate, which had stood at 1 per cent, since September 22nd, was reduced on February Bth to Si per cent., and on May 9th was further reduced to 3, was raised on August 29th to 4 per cent., and on October 17th to 5 per cent. A year ago the rate was 4 per cent. The Bank of Prance rate, which advanced on October 17th to 3J, was on October 31st further advanced to 4. The Bank of Berlin rate was on October 24th raised from 4J to 5 per cent., and on November 14th to 6. The open market rate of discount for best three months bills in London is Is 3d higher at 4 11-16 per cent.; a • year ago it was 3 11-16. Short loans are 10s higher at 4} per cent.; twelve months ago the quotation was 3J, In Paris the open market discount rate is 3s 6d higher at 4 per cent. (3 a year ago); and in Berlin it is 5s higher at 4|d per cent. (3J a year ago). COMMERCIAL CABLES By Telegraph—Press Association-Copyright (Received January 24, 11.15 p.m.) LONDON, January 34. GRAIN AND FLOUR. Wheat —The market is inactive, with a tendency against sellers. Two thousand quarters of Australian January-Febru-ary shipment sold at 37e 3d. At Liverpool the Quotations for wheat “futures" ■ are: For March, 7s sld (IJd lower than last quotation); May, 7s (IJd lower); July, 7s 2)d (1 jd lower). Australian wheat on the spot in London, just landed, is firm at 4ft? per quarter of 4S6ll>—last price 39s to 39s 3d. Flour—The market is steady, but slow. Australian patent brands on the snot, 37s 9d per sack of 2301 b ex store—3d lower than last quotation. Oats La Plate, January-February shipment, 15s 71,d per quarter of 3041 blast last price, 15s 9d. Beans—The market is firm, and prices unchanged. New Zealand, 39s 6d to 40s per quarter of 5041 b. Peas —The market is firm. Prices on spot are unchanged. On passage parcel, f.a.q., sold at 37s 6d per quarter of 5041 b. BUTTER. The butter market is depressed owing to the weather. There are heavy supplies, and buyers are inactive, hoping to force a further reduction. Danish, 121 s to 13Gs; choicest Australian, 108 s to 110 s and occasionally 112 s; New Zealand, 113 s to 114 s, and occasionally 115 s. CHEESE. The market is steady and prices unchanged. New Zealand 60s. BRADFORD WOOL. Merinos are five per cent, higher. Crossbreds have a hardening tendency, and low crossbreds are steady, 64's, 29>d; super, 2SJd; common 60 s, 27Jd; 56’s, 23)d; 50’s, 21 Jd; M’s, 16Jd; 40's, 15Jd. SUGAR. German beet sugar, 88 per cent, net titro, 3d more than last quotation, at 9s 5d per cwt; first marks granulated f.o.b. Hamburg, 11s 7d—3d more than last quotation. i PRICE OF METALS. Silver—Bar silver is quoted at 28 13-lGd per ounce standard, id less than last quotation. Copper—On the spot, JH 10s lower at X'7o 10s per ton; at three months, JJ7O 17s 6d— £i 10s lower; electrolytic, -075 10s, Tin—On the spot, X22S 15s —£1 15s lower, at three months, J22SS 2s 6d. Spelter—Same as last price, £23 5s per ton. Pig-iron—Middlesbro’ No. 3,60 s Sd per ton. Last quotation, 675. WOOL SALES. LONDON, January 23. At the wool sales there was strong competition for New Zealand crossbreds, which American buyers supported fairly. All sorts were firm at ijecent rates. (Received January 24, 11.30 p.m.) LONDON, January 34. At the wool sales the following are the prices realised for the fleece portions of the clips named: Wairere, .top price lilid. average 12d; Murray, 13d, 12{d; Tamuu, Ukl, 12|d; Gear, 14Jd, 12Jd; Leefield, 15d, 13yd. MELBOURNE, January 24. The wool sales regular selling season Has closed. Keen competition for all good wools was maintained until the finish. They were 5 per centum dearer than at the December sales. Tweedsmuir scoured reached 2G-ki, a record for the Commonwealth. Greasy reached 14Jd. lialgcty and Co., Ltd., have received the following cablegram from London dated the 23rd inst.: Frozen Meat—Beef: The demand is poor, and good quality other than Australasian is offered at low prices. Quotations: Prime ox fores 3Jd, hinds 3Jd. Lamb: Demand is limited, prices are nominal. Quotations: Canterbury light and heavy 7d, North Island light and heavy not quoted. , Mutton: Demand limited, prices nominal. Quotations;^

Canterbury heavy and light not quoted. North Island heavy and light Sd. Wool Sales. —Owing to a thick fog no sales were held in London on tho 22nd inst. Tallow.—Prices are from par to 6d per cwt more. NATIONAL LOAN AND MORTGAGE COMPANY. (Received January 24, 10.45 p.m.) LONDON, January 24. The National Loan and Mortgage Company of New Zealand showed profit for the year of £52,6G5. The total dividend paid is 12j per cent.; the amount, carried to reserve X'15,000, and that carried forward .£12,666.

This mail. Last wes Lut yai.-. £ £ £ Bullion .. 84,924,000 34,262,000 37,019.000 Iteesrra .. 20.6C2.UO0 25.045,000 28,032,000 Notoolro’ln 27,604,000 28,079,000 27,811.000 Deposits .. 63,202,00,1 62,174,000 53,871,000 Proportion of reserve to liabilities.. 49.84 40.10 48.70

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