COMMERCIAL.

Taranaki Daily News, 15 July 1916, Page 5

COMMERCIAL.

MONEY MARKET. Received July 14, 8.40 p.m. London, July 14» There is a rise in the bank rate, due entirely to tl.e sharp rise in money value in New York since the end of last week, which if pobably the outcome of America's loan operations including loans to the Allies, and also expansion of trade aetiv.'ty. The rise in New York came as a m'lprise in London, as it was believed that considerable loanable capital was still available in America. Tile possibility of a rise in the London bank rate was only seriously brought into view la«t evening. Financial circles generally approve the step as a precautionary measure, designed to (iroinptty'n'lay any feelsng of unrest regarding "the future, which depends chiefly • iii Anietieun developments. It is hoped the increased rat- will be only temporary, but it is regretted that it may indefinitely postpone a big, long-dated .var loan which was anticipated in many quarters. Received July 14, 5.30 p.m. London, July 13.. Money market quotations are disorganised to-day. Short loans and three months bills, which hardened yesterday iV :; and 'j',4 respectively, are unquotable. Consols opened at lf>s and touched £OO, closing at £OO 4s, the meaft price being £OO 10s. War loans £BO .is to £9O 12s Od. Victorian four per cents £!>4 15s, three and a-half's £BS 2s Od, threes £O7 Ts Od, three and n-halfs (192!M0) £7H 7s Od. New South Wales fours £B7 2s Od. three and a half's £O7 2s Od, threes £72 '2s 6il, three and a hall's (1920-;l0) £74 I "is. Queensland fours £!)1 os, three and a half's £S7 12s od, threes £OO 10s. New Zealand fours £BO 10s, three and a half's £7O 12» fill, threes £OB 15s, South Australian three and a half's £75, threes £Ol 12s Oil. West Australian three and a half's £75, threes £B2 10s. Coin, £-»/* 300.000: reserve, £41.850,000; proportion of reserve to liabilities, 28.3P: circulation. £35,080,000: public, deposits. £540,220.000; other deposits, £92.500.000: Government securities, £42.188,000; other securities, £Bl,225,000. LONDON* WOOL SALES. Received July 14, 8.40 p.m. London, July l"» Wool prices are firm, the recent rates' for crossbreds being unchanged, but there is stronger general competition. The following prices were realised for the fleece portions of New Zealand clips named:—llighfield top 22'/jd, average 21Vid; Avondale 22t1, average 20y 2 d. On the Bradford market there was small business. Merinos and fine crossbreds were extremely firm, with a hardening tendency, low crossbred* being slightlv easier—o4's, 52d: super BO's, 51d; sfi's, 40d; BO's, 33d; 40's, 28><id; 40's, 27 Id. OTHER MARKETS. Suga. - - .American, granulated, 41s Ofl. Butter —The market is quiet, Australian I.'Ss to 102s; New Zealand 108s to 170s, Cheese.—The market is flat, and there is very little business, owing to large allround supplies. New Zealand 82s to 80s; Canadian. 80s to 82s. Copper.— £9O 2s fid to £BO 2s 6d, Tin. £IOO 17s Od to £l7O }7s Od. T.ead, £lB £s to £26 15s. Snelter. £45 os to £43 10s. Silver, 2s od. Wheal n firmly held and sparingly offered. Flour Is firm. Barley is firmer. Peas nnd beans ft** ■ w -» *nß miitangeiL