FINANCE AND TRADE.

Wairarapa Daily Times, Volume XVI, Issue 4955, 19 February 1895, Page 3

FINANCE AND TRADE.

[Specially compiled for the Wai- s uun Daily Times.] j MOSEY. v The Bank of England returns for a the week ending 14th February, g H show a considerable increase in the a resorve, tlio amount being no less v than £1,636,000. The reserve for ii the previous wcok stood at c £27,482,000, whilo for the week under review, it ascended to £29,118,000. The increase in the reserve last month, amounted to £3,170,000; for the first week this month, there was a decrease of ,t'338,000, which is wiped out by the ( latest return, The total increase, therefore, since the commencement of the year, amounts to £4,408,000, , The following table shows (lie move- 5 ment of the reserve since the beginning'of this year, as compared with the corresponding period of j last year:— j Reserve. Reserve. Increase. a 1895. 1894. s £. £. £. \ Jan. 3,23,970,000 15,551,000 8,419,000 „ do. 10,25,1(50,000 10,911,000 8,249,000 ( do. 17,26,202,000 17,902,000 8,240,000 j do. 24,27,142,000 19,261,000 7,881,000 do. 31,27,820,000 19,739,000 8,081,000 Feb. 7.27,482,000 20,433,000 7,019,000 do. 14,29,118,000 21,268,000 7,850,000 *W Three months' hills are discounted at 1} percent., which is 5s percent, butter than it was towards the close of last week. The open market c i«te for the same period last year, » was If per cent., but this was a h falling rate, whilst the present '[ flotation is distinctly an advance. '1 It clearly indicates that business is h improving, and offering a more profitable outlet for money. Any improvement in London, must bo li rcllected in the Colonies, and it is I therefore pleasing to note the up- 1' ward movement. The leading items of the Bank of J England, compare with those of the J corresponding (late of last year, as t follows: a Jan. 31, Jan. 31, More--1804. ISM. incut. £ £ £ increase Oiin and Bullion .. 23,0:10,000 35,95(1,000 7,K50,W0 Xota ia Circulation 21,787,000 24,!»J,0W 1511,000 l'ulilic Deposits .. 0,301,000 C.SIi.OOO 35,000 I ulicr Deposits .. 3.1511,000 33,7«,000 1,303,000 tiiivcrnm't Securities 8,900,000 12,878,000 3,M5,000 decrease Oilier Securities .. 25,255,000 17,510,000 7,73(1,000 increase licscrvc .. .. 10,739,000 5,520,0005,051,0 M C I'mpurtlon of Ilcsrvc percent, percent, per cent. «tn Liabilities.. .. 5M2 SVI3 1120 f Umk Discount Rate 2) 2 - i fiOVKISXMKXT STOCKS. r A Hritish 2f per cent, consols (Gos- ■, ulien's), are quoted at 1041, being an advance of 5s for the week, c In Colonial Government 4 p.c. e stocks, Victorians have declined 10s \ for the week, while West Australia shows an advance to the same ex- r tent. New Zealand mid Queensland | have improved 5s each, the other \ two denominations showing no c variation. The table of comparison ] is as follows: t Move7 Feb. 14 Feb. ment. . N. Zealand 1929 10/J 107? llisc ss. , N.S. Wales 1933109 109 J A r ictoria, 1920104} 103} Fall 10s. 1 S. Australia 193G107 107 ' (Queensland 192410(5 100} llisc os. ' W.Australial934lll} 112 ItiselOs. t In the 3i per cent stocks very 1 little life is shown, and the market tendency is apparently downwards. ! Victorians have declined 15s, and f os, while South Aus- ' fßtralias have advanced ss, the others show no movement. The weekly ' comparison is as follows : ' Feb. Feb. Move 7. 11. ment. T New Zealand 1910 101} 101} - JN'.S. Wales 1924 103 103 - Yirtoriit 1923 98} 97!, fall 15s S. Australia 1930 101-? 102 rise 5s , Queensland 1924 99.1 99} full 5s Tasmania 1940 99 99 - WHEAT. The total quantity of wheat and flour afloat for the United Kingdom is 3,330,000 quarters, us compared ] with 3,240,000 quarters for the pre- j vious week, and for the Continent | 780,000 quarters us compared with i 770,000 quarters. The wheat mar- j ket exhibits a better tone, the quota- i tions for Victorian and South Aus- j tralian ex-warehouse wheat being • firmer, the market for New Zealand ■ grain is Hat. The estimated visible i supply of American wheat is i 105,300,000 bushels us compared , with 180,849,000 bushels the estimate of the 30th ult., the decrease being 75,549,000 bushels. American ■ « farmers discouraged by the low price of the cereal, are feeding their hogs with wheat. I'IG ntox. The iron market is popularly supposed to be the trade barometer, when it is remembered what an important position iron holds in the trade and commerce of 1 the world, we can believe that the price of this industrial metal is an indication of tho state of trade. The following table of prices will show that a, drooping market has quickly recovered. The quotations are for Glasgow warrants No 1 f.o.b. Clyde, •£ s d January 3 2 1 I) Flat 10 2 1 71 17 2 1 V, 21 2 1 4 31 2 1 li February 7 2 13 14 2 1 « NOTES. The quarterly returns of tho Bank of New Zealand as furnished to the Victorian Government for last quarter shows the following. «m' Dccq'tr. Se])l,q'tr. V 1894 1894 ' -'• £ JC k Govt. Deposits * General Deposits 05,024 (30,17(5 1 Advances 401,383 345,235 Coin and Bullion 99,381 75,888 The Bank is evidently trading in Victoria with money drawn from the other colonies. The coin and bullion held by ihe national banks qf England, France, and Germany at the close of the year 1891, was as follows, & Dank'of England 32,6', 7,000 Bank of France 132,462,000 Hank ofGcrmauy 52,350,000 217,359,000 Tho total amount of capital application «'.e, fresh capital subscribed for domestic and foreign loans, and in v the formation of joint stock and other companies, in the Unitod Kingdom last year was £91,835,00(1 as, compared with £49,131,000 in *3, while the actual money paid calls, etc. in 1894 amounted tc £74,222,000 as against £41,003,00 C in 1893. The total amount of foreign loans floated in London in 1894, was #22,700,000, of which £IS,QQO.(W Russia.; Ccluhial Governmeuli and corporations obtained loaiis \{ extent of £13,000,000, of w'hicl India, took'£6,P,oQo, amfNey Zealand'SgfltojOOO (for the Bank o New Zealand.) During the twelve months endinc V 30th,_ JfoY«r ( b,er, 1894, the Qwtac

land Meat Export Agency Company dealt with 37,850 cattle and 25,500 sheep. On the Yilgarn goldficlds, AVest Australia, from 11th December, 1894, to 22nd January, 1895, the Government built 13 tanks, having an aggregate capacity of 10,747,000 gallons, at a total cost of £28,878, and impounded 2,662,404 gallons of water. The total value of tho water impounded at the rates charged for condensed water was £'48,363. Pehcy Pkxlyx.