COMMERCIAL CABLEGRAMS

Otago Witness, Issue 2892, 18 August 1909, Page 24

COMMERCIAL CABLEGRAMS

LONDON, August 10. The quantify of wheat and flour afloat is 2,310,000 quarters, for the Continent 1,600,000 quarters ; Atlantic shipments, 127,000 quarters. The total shipments to Europe for the week were 105,000 quarters, including 87,000 quarters from the Argentine aird Uruguay A cargo of Australian wheat sold at 42s 6d.

August 11. Tibe wheat market Is weak. Auetialian oargoes afloat are quoted at 42s 6d. New crop, December-January shipment, 395.

At the tallow auctions 2130 casks were offered and 583 sold, at an average decline of 3d.

August 12. The American vioible supnlv ot wheat is 15.605,000 bushels. -

August 13. The Bank of England returns- show the stock of gold coin and bullion to be £37,581.000; reserve, £27,835,000; proportion of reserve to liabilities, 51.91. The notP3 in circulation total £29,755.000; public deposit*-, £19.402.000; other deposits, £44,292.000; Government r,ecuritics £15,366,000; and other iecurities, £28,396,000.

The bank rate of discount is 2£ per cent. Tlie following are the quotations for colonial Government stocks, compared with those ruling a week previous :—: —

fekoTt loans are discounted at 1 per

cent. Three months' bills: London, 1 7-16 per cent. ; Paris, 1£ ; Berlin, 2 3-16.

Wheat : Brilliant weather, lower American prices, and pressure to sell the new Russian and Canadian grain are combining to depress the markets. There is little inquiry for cargoes. Holders are asking 42s for wheat afloat. A small demand exists for Australian spot at 45s 3d. New Zealand — Longberry, 455; shortberry, 44s 6d.

Flour : The market is weak and inactive. Australian patent makes are quoted : London, 325 ; Glasgow, 32s 6d.

Oats : There is a fair inquiry for New Zealand. From 20s 8d to 22s 3d has been paid for Gartons and sparrowbills by near steamers, and 19s 6d to 20s is asked for July shipment. There is fair trade in La Plata oats at 16s 9d.

Butter : Quiet and unchanged. There is no demand for colonial. The Pericles's

shipment i& all stored. Bradford wool -. There is fair business in 40's at 12£ d; 46's, 14^d ; common 60's, 25J,d; super., 26£ d; 64's, 27id. From 12,000 to 25,000 quarters of the new crop, December- January ' shipment, have been sold at 395.

'August 14. Weddel's Annual Review anticipates that prices for butter during the coming season will be rather lower than laet, if Australian exports equal present expectations. Wheat. — The markets are steadier, with little inquiry for cargoes. Hemp. — Quiet and firm

New Soutli "Wales 4's .. New Soutli Wales 3i's New South Wales 3's . ftctorian 4's ... Victorian 3b's Victorian 3's Queensland 4's Queensland 3£'s Queensland 3's . . South Australian 31 * South Australian 3 - Kevr Zealand. 4's . New Zealand 3|'s New Zealand 3's Pasmanian 3i's rasmanian 3'§ . . „ West Australian 3i's . West Australian 3'a .. 98i 87J 1031 97; 86. 103 i 97$ 8G J . 93', 84' 10G 93. 87^ 98; 87 83 G. -A 107 935 87; 103 i 97a 861 104 97J 86 S BS I . 84. 106 QSh S7J 99i 87 98* 88