COMMERCIAL.

Auckland Star, Volume LIII, Issue 78, 1 April 1922, Page 5

COMMERCIAL.

THE LONDON MABKETS. d MONET AND PRODUCE BATES. c LONDON, March 30. r The Bank of England returns for $he F reek ended March 30. as compared with J) hose for the week ended March 23, are as j oilows:— „ . „ r March 30. March 2o^ ;oin £ 126,942,000 £126,936,000 J teserve ..' 24.302,000 20.520.000 a £te Issue 122,719:000 121.704,000 Jovt. deposits ... 30,037.000 21.860,000 J )ther deposit! ... 120,504,000 120,_°.000 t Jovt. securities .. 46,319,000 48,460.000 )tber securities.. 97,931,000 86,39.,000 ( proportion of re- „„ serve to liabilities 16.20 l'-SO < RATES' OF DISCOUNT. Short loans, 31 per cent, as against.3 per ent last week; three-month bills, <s* per lent, as against 38 per cent last week. FOREIGN EXCHANGES. The following rates on foreign exchanges ire current to-day, as compared with the abled quotations on March 27 and par:— March 30. March 27 Far. Sew York.... 4dol. 37Je. 4.371 4.866 Montreal 4dol. 50c. 4.50 i *°°2 i [>nrls 48f. 05c. 48.55 2o.iw f 8er1in...:.... 1415 m 1480 20.43 { Stockholm.... 16kr. S3ore 30. .-i Jf-Jg} Jhrlstlanla... _4kr. 63ore 24.70 18.15.1 I'openhagen... 20kr. 70ore 20.0 18.L.9 Calcutta 1/31 l/3i *l Hongkong.... 26 2fi* — _okobama -/-i -I- - /vt CONSOLS AXD N.Z. STOCKS. The following table gives quotations for ?onsols nnd New Zealand inscribed stocks, Compared with those of March 23: — Frice. Variation. £ s. d. a. d. , Consols. 2i per cent 56 7 6 25 0T * British ?.!■■ p.c war loan 93 0 0 J) "T , British 5 p.c. war loan.. 9S 10 0 X> <n ] Sew Zealand 4 p.c. 1929 91 13 0 12 6, , Sew Zealand 34 PC 1940 79 0 0 J2 6T . Sew Zealand 3 p.c. 1943 72 0 0 10 Oi j fllieher. 1 CEREALS. PULSE, AND SUGAR. J Wheat.—Cargoes are nominally nnchenge<l. ( but there Is an easier tendency owing to lower American advices. There has_been no ] bidding to test the market. Parcels are very quiet, and spot tmde is inactive. Australian _ue is quoted at <!0/. Flour.—The market is slow. Australian : ex-store is quoted at 47/. Barley.—Quiet. Australian Chevalier, 37/. Oats.—__sler. New Zealand landed, 37/. Beans and Peas.—Quiet and firm. Sugar.—Unchanged. I METALS. spot. £37 IS/9; forward. £3S 13/9. Lead.—On spot. £31 17/6: fojward, £21 15/. Spelter.—On spot, £25 12/fi; forward, £23 13. Tin.—On spot, £143 1/3; forward. £144 12/6. Silver.—2/95 per oz standard.— l A. and N.Z. Cable.! DUNEDIN WOOL SALE. ADVANCE AVERAGES PENNY. (By Telegraph.—Press Association.! DUNRDIN, FridayThe clearance tjtnder the hammer at to-day's wool sale amounted to nearly '.'3 per cent.*and probably all except a few lots with high reserves placed on them by the owners will be sold privately. Altogether the clearance is a very satisfactory one, and •■spe-!.----ally welcomed by the brokers, who are urgently requiring space in their stoics for the storage of grain. Speaking generally, the market may be quoted up a penny and higher with the February sales. Soiling brokers" were, in most cases, able to dispose of lots passed at the February auction at from *d to ljd per lb advance, but In some cases the bids for passed lots were lower than the offers made In February. The ba6!s of values as between February and March auctions may be summed up as follows: —Merinos, par to Id advan-e : K-.lf-breds, Jd to lid advance; crossbreds. id to lid advance: pieces of all descriptions. Id to ljd advance; locks, id to Id advance. DUNEDIN. this day. The bulk of the wool purchased at the Dunedin auctions yesterday is destined for Bradford and the Continent, whilst cV'tchings go to Japan, and a very little suitable to Dominion mills. TALLOW AND FItOZEN MEAT. The New Zealand Loan and Mercantile Agency Co.. Ltd.. lias received the foliowI ing cable from Loudon, under date 29th j Hit.:— I Tallow. —We quote present spot vauies | for the following descriptions: Fine Glutton, I 43/3 per rwt; good beef. 40-9 per cwt; mixed 1 beef. 35/3 per owt. Market inactive. N.Z. Frozen Meat.—Lamb. Hid per lb. Market weaker. Mutton and beef quotations unchanged. LONDON WOOL SALES. 'I be New Zealand Loan and Mercantile Agonev Co.. Ltd.. has received the following cablegram from lts London house under date 30th inst.:—'The wool sales closed tirmly to-day. As compared with last sales tcloslng rates prices are about par to 5 per cent, higher for greasy and scoured Merino super, and about 5 per cent, higher for Merino lambs, while medium and coarse greasy crossbreds are about par to 5 per cent lower: others unchanged. Average current London values of the undernoted descrio'ions of New Zetland crensv w:>-M: — Good Merino 20<1. medium 17Jd, Inferior 14d. fine crossbred lOd, medium S}d, coarse (40*b) 6Jd. coarse (36"5) s|d. SOUTHERN EXCHANGES. (By Telegraph.—Press Association.) - DUNEDIN. this day. Sale on "Change: P. and 0.. £300. Sale reported: National Bank, £5 17.', £3 17/3.

MELBOURNE lIJDE MARKET. (Received 1.30 p.m.) MELBOURNE, this day. The hide market has greatly improved, all weights, excepting heavy kips, being firm at a halfpenny advance.—(A. and N.Z. Cable.)