COMMERCIAL.

Taranaki Daily News, Volume LII, Issue 128, 28 June 1909, Page 4

COMMERCIAL.

THE MONEY MARKET. London, June 20. Three months' bills are discounted at 1 11-10. The rate for «hort loans is 1V 4» and the bank rate MR. C. E. MAJOR'S REPORT. Mr. C. E. Major, Mortgage agent, Hawera, reports:—During J the past iponth there has ibecn a marked change in the Dominion money market. Money is easier, caused prinicapllv by reason of the Bank*, save ope, having relaxed the policy of making no fresh advances. This, however, is only a premonitory symptom of the coming restoration of confidence and with it the unlocking and cheapening of the essential to nil commercial progress—money. It is Incoming generally known that the Premier's mission to Britain is not to be confined to taking part in tile delibera- , tions of the Imperial Conference, but is' to make arrangements for a further supply of money for the Government Advances to -Settlers Ofliee, so that bo:*- , rowers may not be trammelled -by the ; £SOO limit. Our Premier's lucid opti-, r.iism and clear conception of all <pu»s- ( tions of finance will serye hint and the j Dominion in his negotiations with the , financial magnates in London. The ] effect of this Department of State {the i Advances to Settlers Office) being fur- | niched anew with funds' will have a ; material and .moral effect that will prove almost magical, not only in reestablishing confidence but in promoting the spirit of enterprise, that a certain Wellington daily has done much to extinguish. The genuine borrower for purposes of improvement and increased production can hail with satisfaction the coming advent of cheap money—nothing other than Great Britain becoming involved in war with one of the great Powers can prevent it. Loea-iv loans are difficult to negotiate, much j money lying idle Gwiua to overcautiousness of the holder* I

I T/iXnOX MARKETS. 7,ondn;i. .lune 2fl. Wheat—The market is 1 firm: the Continental demand is active, and cargoes are stronjjlv held. Sales were effected at 44s 3d; a steamer parcel sold at 4ts 011 spot. Tire American visible supply of wheat is 21,000.400 bushels. Flour—Flour is firm but quiet. Tt sold in London nt 33s ex s'tore. and in Olasgow at 32? fid and 32s Od landed. Butter—Butter is steady and unchanged. Colonial is quiet and neglected. Cheese is easier. New Zealand is nuoted at 00s and 03s. Some of the ■Ruapelm's consignment was heated. Copper—On spot CjO Ts' fid. lliree months COO os. Eh'otrolvtie COI •>*. Tin—On spot C 132 17s fid, three months €134 7s od. } Lead, £l3 2s lid. Tron. 48s Od. Sn^ar—flerman 10s 3d, first marks 12N td. Bradford wool is quiet; common sixties 2<M.