COMMERCIAL.

Taranaki Daily News, Volume LIII, Issue 232, 6 February 1911, Page 3

COMMERCIAL.

| BANK OF ENGLAND RETURNS. J" By Cable —Press Association—Copyright. London, February 3. The Bank of England returns for the week ending Wednesday last are as follows: — Reserve, £27,210,000. Gold coin, £35,453,000. Note circulation, £27,701,000. Public deposits, ,£10,053,000. Other deposits, £41,807,000. Government securities, £ 14,005,000. Proportion of reserve to liabilities, 51.49. THE MONEY MARKET. Three months bills, 2 7-10 per cent.; Paris, 2% per cent.; Berlin, 3% per cent. Bank rate, 4 per cent. Short loans, 3*4 per cent. GOVERNMENT SECURITIES. The following are the latest quotations for Government securities:— 2% per cent. Consols, £79 15s. Rise of 2s Od. 4 per cent. New South Wales, £lO5. Unchanged. 3% per cent. New South Wales, £9S. Fall of £l. 3 per cent. New South Wales, £B7 10s. Rise of 103. 4 per cent. Victorian, £lO3. Riae oi 7 s Od. 3% per cent. Victorian, £97 10s. Rise of 10s. 3 per cent. Victorian, £B4 10s. Unchanged. 3y 2 per cent, South Australia, £9O 10s. Unchanged. 3 per cent. South Australia, £Bl 10s. Unchanged. 4 per cent. Queensland, £lO3. Unchanged. 3% per cent. Queensland, £9B 10s. Unchanged. 3 per cent. Queensland, £B3 10s. Unchanged. 4 per cent. New Zealand, £lO4 17s Od. Rise of 7s Od. 3V!> per cent. New Zealand, £9O. Unchanged. 3 per cent. New Zealand, £BS 10s. Unchanged. 3'/ 2 per cent. Tasmania, £97 10s. Unchanged. 3 per cent. Tasmania, £BS. Unchanged. 3% per cent. West Australia, £97. Unchanged. 3 per cent. West Australia, £BO 10s. Unchanged. LONDON MARKETS.

London, February 3. Copper.—Forward, £SO: electrolytic, £57 10s. Tin.—Flat, owing to heavy realisations. Spot, £103; three months, £192 15s. Lead, £l2 17s Gd. Iron, 49s sd. Sugar.—German, fls Id; first marks, lis Id. Bradford Wool—Quiet. Sixty-fours 26d, super-sixties 25% d., common sixties 24% d, fifty-sixes fifties 18y 2 d, forty-sixes 14% d, forties 13'/ a d. Wheat.—The markets are dull. River Plate, India, and Australia are all pressing sales. There is only enquiry for near wheat by buyers, who are continuing a hand-to-mouth policy. Australian cargoes sold at 35s 4 l / 3 d to 35s 3d; holders are asking 35s 3d for January-Feb-ruary shipments, sailers; 35s Cd, steamers. 34s 3d was paid for January-Feb-ruary-March parcels. There is small demand for Australian spot at 35s 9d to 35s 3d, and for best New Zealand 33s to 345, inferior 32s to 32s Gd. New crop parcels February shipment are quoted at 32s Gd. Flour. —Quiet and small business. Australian patents, store 25s Gd; Feb-ruary-March shipment 245. Oats. —Quiet. New Zealand, unchanged. La Plata February-March shipment, 13s.

Butter. —Steady and generally unchanged. Choicest Australian unsalted, occasionally 104s; New Zealand unsalted, 108s to 100s. This week's colonial arrivals are 120,000 boxes; next week's will be 130,000 boxes. Cheese.—Firm. New Zealand colored, 59s to 01s; Australian, white 56s to 575, colored 58s. LONDON WOOL SALES. London, February 3. At the wool sales the Haijcohu clip brought top price lOd, average 9d; Elderslie, 20y 2 d and 20% d. At the wool sales there was good competition, prices generally being maintained.

WELLINGTON W 7 OOL SALES. By Telegraph.—Press Association. Wellington, Saturday. The number of bales catalogued for Wellington wool sales next Tuesday is 12,700, as compared with 10,358 in February last year. LONDON DAIRY REPORT. Messrs E. Oriffiths anil Co., New Plymouth. are in receipt of the following market report from their London principals, Messrs Mills and Sparrow, dated December 23, 1910: — There has been more trade this week than was generally expected. The weather now shows signs of improvement, and this should certainly stimulate the demand. There is no doubt that the high prices of butter which have prevailed for some time have had the effect of largely increasing the sale of margarine, as there is a large section of the public who either will not or cannot afford to pay more than Is per lb, and when they arc unable to obtain good quality butter at this price, they buy substitutes. It is satisfactory to note that the imports of margarine are declining, and with the retailers now selling butter at the popular price of Is per lb, we feel certain that the demand will tie sufficient to clear all arrivals as they; come to hand, heavy though they may be. Danish: The long expected reduction has at last taken place, the quotation being lowered by two kroner yesterday. Siberian: Little interest is now being taken in this description. Reports still say that large quantities are in store in Continental ports, but it is difficult to ascertain any definite quantity. French: The prospects of any increased supplies coming from this source during the winter are very remote. Our advices are that there is hardly sufficient butter for the home trade. Australia: Arrivals this week have been on a fairly heavy scale. The s.s. Macedonia, with about 49,000 boxes, came to hand in good lime, and some of her butters were on the market on Monday last. In addition to this steamer there lias also been the Oswestry Orange, with about 9000 boxes, which also landed her butters early in the week. The Marathon, and Essex have arrived with small'cargoes and are discharging. The trade has been confined to the first few days of the week, and is now practically ' over, and although quotations are lower than when we last wrote, the butters have cleared better than they have done the last few weeks, and for reasons already explained we certainly think thai there should not be any further decline ' New, Zealand: The- Corihthic butters were landed in good time, aiul the quality by this steamer is well maintained

There has been a good demand, but prices are irregular. Those sellers who forced sales under current quotations . several dais before the s! tamer arrived ! have certainly scoreu, but, as we have pointed out before, it i< this under-cut-ting which brings the market down. The trade has mostly been confined to London and southern comities, many of thej northern buyers who put away Danish] in the autumn preferring to clear this before starling on New Zealand, but (luring the last few days, we are pleased to say, there has been a little more enquiry, and we think this will soon extend all over the country. Cheese.—Canadian: Trade has liee.n quiet, as is always the ease just, before Christmas. Buyers having so many other things to do generally lay in sufficient stock to carry them over the holidays. New Zealand: The same remarks apply here as to Canadian, and in order to keep the goods moving fid to Is lower has been taken.