COMMERCIAL.

Auckland Star, Volume LIV, Issue 89, 14 April 1923, Page 9

COMMERCIAL.

THE LONDON SIARKET3. '*: ~ LONDON, April 12, RATES OP DISCOUNT. Short loans, IS per cent, compared with 15 per cent lust week; three months' bills, 2* per cent, the same as last week. FOREIGN EXCHANGES. The following rates on foreign exchange* are current to-day, compared with tl* cabled quotations on April 9 and par:— April 12. April 0. Par. New York .... -Idol 65"C 4.6*- 4.866 Montreal 4dol 75*; 4.754 4.866 Paris 69fr80c 69.15 25.22;» Rome !)3Slire 92" 25.22» Berlin 08,000 m 97,000 20.43 Stockholm .... 17kr49ore 17.56 18,1.*!' Christiania ... 25kril4ore 25.90 18.15!» Copenhagen .. 24kr 66ore 24.50 18.109 Calcutta .1/4* 1/41 2/ Hongkong .... 2/3J 2/3" — Yokohama ... 2/11-16 2/1 2/OJ CONSOLS AND NEW ZEALAND STOCKS. The following table gives quotations for consols and New Zealand inscribed stocks, compared with those of April 5 : — Price. VArlation, £ s. d. s. a. Consols, 2J per cent .. 59 5 0 5 0, British 31 p.c. war loan 95 10 0 —* British 5 p.c. War loan 102 17 6 12 6f N.Z. 4 p.c, 1929 94 12 6 5 0, N.Z. 31 p.C., 1940 84 10 O 10 Of N.Z. 3 pc, 1945 76 2 6 22 6f N-Z. 6 p.c, 1936-51 ... 109 5 0 5 Of t Higher. — Not cabled last week. CEREALS, PULSE, AND SUGAR. Wheat.—The market for cargoes has not responded to the American advancfe or the more active freight position. Continental demand is more subdued. Prices are unchanged. Parcels firmed by from 3d to 6d. New Zealand May-June shipment are nominally 41/. Spot trade is fairly active and prices are firm. Australian has been landed at 55/. . Oats. —Firm. A Gartons, spot, 36/ to 37/. ' Barley.—Steady. Australian Chevalier, 43/ to 48/, New Zealand malting, 42/ to 40/, nominal. Peas. —Slow. New Zealand Maples, spot 95/ to 100/ ; May shipment, 65/ ; New Zealand Blues, spot, 320/ to 340/; Tasmanian, 360/ to'3Bo/. , Beans. —Firm.- New Zealand, spot, 49/ to 51/. Sugar.—Granulated, 62/10. BRADFORD WOOL MARKET. The Bradford wool market is quiet but firm. Quotations are :—Sixty-fours, 63d ; fifty-sixes, 36d; forty-sixes, 181 d. THE METAL MARKET. Copper. —Spot £73' 1/3, three months) £73 16/3. Lead.—Spot £27 10/, three months £27 2/6. Spelter.—Spot £34 15/, three months £35. Tin.—Spot £217 2/6, three months £217 7/6. Silver. —31 15-16 d per oz. — (A. and N.Z. Cable.) BUTTER AND CHEESE. Messrs. "Dalgety and Company, Limited, are In receipt of the following cable frOW their Loudon office under date of the 12th Inst-— Butter. —Market dull. we. expect lower prices. We quote:—New' "Zealand butter, salted, at 172/: Australian g.a.q., 160/; , Danish, 188/; Finest Australian, salted, 166/; finest Australian, unsalted, 166/. Cheese.—Market declining. -New Zealand' white, 128/; coloured, 132/. TALLOW AND WOOL". . The New Zealand Loan and Mercantii* Agency Company, Limited, have received the following cablegram from their London house under date llth instant:— TaUow. —We quote present spot values for the following dsseript'ons:—(Fine mutton, 45/3 per ewt; good beef, 43/3 per ewt; mixed, 3D/9 per ewt. M-rket firm. April wool sales will include arrivals up to April 4, 1923. The Rlmutaka, Talroa, Devon, Kent and Port Hunter wIU be available. CANTERBURY MARKETS, -[j(By Telegraph.—Press Association.) CHRISTCHURCH, Friday. The' announcement made during the -week that the wheat arrangement would be ratified, or rather that the Government would not Interfere in the arrangement, has given a certain amount of reUef to farmers and the trade. However, the extent of the relief is limited as far as farmers are concerned, as mUlers have now good supplies on hand, and there Is no haste on their part to increase stocks. MiUers so far are not paying the difference between the ordinary prices and those arranged, but it la expected that this position may end at anytime. Fowl feed is quoted at 4/31 1.0.b. The ratification of the agreement ln regard to miUing wheat prices has slightly firmed the market. However, there Is sure to be a big proportion of undergrade wheat and already growers are complaining at the rigidity of the grading standard established at Lyttelton, which, it Is asserted is much severer than that set by local mills. The oat market shows no alteration from last week. Gartons are quoted at 2/8 to 2/9 country stations. In absence of Australian business, the mnrket is disposed to weaken. Chaff remains unaltered at £4 to £4 10/ at country stations. The white clover market is easier, and sales are very difficult to effect. The price of Danish cocksfoot has improved at Home by 5/ per ewt, but this is not enough to exert any Improvement in the price of local seed. The cocksfoot market may be described as "sick." Quotations of American red clover are coming to hand at lid per lb c.1.f., equal to about 8d at country stations in Canterbury. The foreign seed is of good quality. Partridge peas have shown a movement, due to forward sellers coming on the mraket to Ml April boats. Up to 6/9 f.0.b.5.1. has been paid, or the equivalent at country stations of from 5/6 to 5/9. There is very little movement in grass seeds, which are quoted at from 4/6 to 5/ to farmers. American Information during the weestates that Danish red fescne is offering freely at a price that limits Southland values to Sd alb to growers. Crested dogstall is another Southland product that has lost its old-time remunerativenss. Sales have been made of dressed seed that make the value of undressed at country stations about 4d per lb. The cause of the easing la that production has increased much more rapidly this past year or two than the consumptive capacity. The potato position has firmed during the week due to a wild rush of orders from the North, and also to the results of 6isf ] giu.gs not coming up to expectations. Mer- ■ chants' quotations cover a range of from _.; 10/ to £3 17/6. The Katoa leaves Lyttelton on Monday for Auckland' with a fair consignment, and wiU be foUowed later ln the week by another boat. THE A.M.P. SOCIETY. The annual report of the Australian Mutual Provident Society, to be presented at the annual meeting of the society, Sydney, on April 2". states th.it the new business in the ordinary <lepnrtment_comprised 25.058 policies, assuring £10.52.. 1 16. and '8 annuities for a total of _ £2036 7/8 per annum In the industrial department 47 OUT new policies wen- issued, assuring £•» n*7 Hiil 15/ Claims by death in tho ordinary department amounted to £1.414,833 s/3 iuiliiil ng £461.014 4/ for bonus addition- I'mlowinent and endowment nssur-•.nce'iKdi.'ie-i amounting to ±1.152.394 10/, including £315.474 10/ for bonus additions, have niafuT-ed. Policies assuring £2.6*0.389 I/O aud annuities amounting to £5173 7/4 beo-inie v.-ill from other causes. The •ictuary'- re ( . .rr shows a surplus of funds over liabilities <>f £1.8.2.32s 1/. out of which £1.740.328 1/ is to he allotted for distribution among the m_.ibers. This win privide r.-vc -.-ooiiary bonuses of about £3.noo,iXiii. Tlie surplus in the industrial department is £96,408 19/3, of which £70.156 is to lie distributed among tha policy-holders. providing reversionary bonuses .'mounting to about £95.000. RAiiBITSKIX SALE. Dnl;rety nml Company. Ltd., Dunedin report under d. te April 9:— ' "At our foitnlghtly sale held to-day we offered another large catalogue of skins! and arc pleased to report that -prices S easily maintained at last sale's rates Thirl was an increased quantity of p«rlv 'nH,m_ a_ to -dvan"-_^ a rV an auvance on last snip cst-i,., .._ r-omiuir formini i„i bkliis are now f,, -vlniirl o large quantities. The 3 -* 1 "'" 6 tb e P-i'-es realised:—Runner. r-VIM & hV 0 10d ' «*-»-»«« 22*0, M«ht ™»d e'arlv ~ ***"'-' r! "' ks 24d - !"*l-* ™~»-» ■i,ti. earlj autumns S6d. late autumns <*=<! rSmT- 5 , T int 5 3 - o ' l ' s P° tte(l winter's 34* prime winter bucks up to 58"d. prime wlner does 62d. springs 29* d, summer b_K_» HW. winter fawns 54.1. autumu blacks 2_j*: winter blacks 423 d. uareskins lMd. 1><«?, , h " l r -»<». "Rtskins B*cl each. m»l«X_""j<_* 19' d, summer broken 19d. winter __TrgSr M autumn gutted 20<d, winter • gotten - . l goatskins 2ld each. •-*-'*"*'■"