COMMERCIAL.

Taranaki Daily News, 31 August 1916, Page 2

COMMERCIAL.

FALL IN PRICE OF WHEAT. Australian-N.Z. Cable Association. London, August 2S. Wheat—Parcels collapsed 4s at the close, owing to renewed talk of the prospects of the opening of the Dardanelles, combined with increased shipments. Business in cargoes is quiet, there being I'ttlo offering. 'Prices for Baltic shipments dropped two shilling?. LONDON MARKETS. London. August 29.,. Copper—Spot £llO ss, three months £109; electrolytic, £129. Spelter—Spot £SB, three months £45. Tin—Spot £172 17s Gd, three months £173 12s (id. Silver, 31 11-1 Gd per oz. AVheat—The Chicago market collapsed by ten to eleven cents. September op-" tions closed at HO 1 /, cents, and December 143% cents, due' to the Roumanian declaration af war and the belief that the Dardanelles would soon be re-open-ed, and also to the unfavorable crop reports from Canada. London, August 29. The Stock Exchange is cheerful and all Government securities are firm, THE WHEAT MARKET. By Telegraph.—Press Association. Wellington, August 29. The wheat market slumped owing to the effect of the war and transport crisis. A cablegram from Chicago dated August 28 said that Roumania's entry into the war and the chances of a railway strike have "smashed" wheat. There was a general rush to sell and prices dropped 4kl per bushel on opening prices. When the news of the Ronmania declaration came there were frenzied scenes in the "wheat pit" as the "bears" made sensational raids on the market, on the assumption that Roumania's entrance into the war would mean the early collapse of Turkey and so allow the exportation of Russian wheat through the Dardanelles,