COMMERCIAL.

Auckland Star, Volume LIV, Issue 105, 4 May 1923, Page 7

COMMERCIAL.

THE LONDON MARKET. BANK OF ENGLAND RETURNS. (■Received 11.30 a.m.) I.OXDOX, May 3. The Rank of England returns for the week ended May 3, compared with those for the week ended April 20, are as follows: Coin f125.fin3.n00 £125,fif13.000 Reserve 23.070.000 24,400,0011 Note issue 124,192,000 122,779,000 Govt. deposits .. 13.235,000 14,006,000 Other deposits . . 107.630.000 108.641,000 Gc.vt. securities. . 4.-,.3r>0,000 48,206,000 Other securities.. 70,130,000 67,605,000 to liablllt-es 10.0 10.0 C RATES OF DISCOUNT. Short loans. 1J per cent, same as last week ; three months' bills, 1 13-10 per cent, compared with 13 per cent last week. FOREIGN* EXCHANGES. r-ONDON, May 3. The following ratpß on foreign exchanges are current to-day, as compared with the cabled quotations on April 30 and par:— May 2. April 30. far. New York .... 4dol 03} p 4.o:ij •(.."Oβ I Montreal 4dol 72i0 4.72* 4.Sfi(! Paris Tofr 03c C 8.43 25.223 Rome IMJ lire !M3 i", TJ.; Berlin JTI.OuO 145.00(1 3> 4:s Stockholm .. . 17kr 40orc 17.30 1.5.1.V1 Christiania .. 27kr lOore 28.80 18.15!) Copenhagen .. mkr UTore 24.00 18.150 Calcutta 1/41 1/0} 2/ Hongkong 2'4i 2/4 i — Yokohama .. . 2/1 7-W 2/15 2/OJ - HA. and N.. Cable.j CONSOLS AND N. 55. STOCKS. Following are the prices for Consols and N.Z. Inscribed Stocks, as compared with last week's rates :— Price. Variation £ s. d. s. d. Consols, 2 J p.c 5!) 5 0 10 0° British 31 p.c. War Loan 05 15 0 sOt British 0 p.c. War Loan. 101 2 0 SO' British Conversion, 3J 81 0 0 7G* N.Z. 4 p.c. 1030 95 7 i> nof N.Z. 31 p.c, 1940 85 17 0 2Ot N.Z. 3 p.c, 1045 77 0 0 same N.Z. 6 p.c, 11(31-41 110 0 0 same Coiaonwealth 5», 1022-7 100 12/0 43 0»

(ex divO Victorian 3J p.c 105 2 0 N.S.W. 4 p.C, 1932 !)212 (5 2Ct N.C.W. 3 p.e., imr> Xl 15 0 Fame X.S.W. 3J p.c., 1030-50. .SO 7 G 7Gt N.S.W. DJ p.c, 1022-32.. 100 12 G sOt X.S.W. r,i p.c, 1030-40.. 10S 7 0 same K.S.W. r> p.c, 1030-40.. 104 o 0 not Quecnsi'd .1J p.c, 1921-24 !)0 7 C 2Of Queensid 3 p.c. 1922-47 72 10 0 10 Of Uaeensld 0 p.c, io;;o-40 ion 2 c, -, o* S. Australia 3J p.c, l'J3'.» Sβ 0 0 r> 0* T.ismall!:. :U p.,-.. lfK!0-4Q Hβ O O I." O« Tasmania 3 p.c, 1920-40 SO 0 0 40 Ot Tasmania (3 J p.c, 11130-40 10S 10 0 sOf W. Aust. 3 J ii.c. 1920-35 Sβ 15 0 same W. Aust. 3 p.c. 1015-35 SO 10 0 10 Ot W. G p.c. 1030-40 103 17 0 17 Gt •Lower. tHigher. —Not quoted last week. BURN'S PHILP (SOUTH SEA) CO., LTD., The dirrctors' report submitted to the third annual nenoral meeting of the above company, at Suva. Fiji, on Friday. April 20. states thnt the pross earnings (including balance of £9145 brought forward) nre £101.013 IR/5: less management and other expenses. £57,677 6/1 : leaving a balance of C13.3.1G 12/4, which it is proposed to The past year has been a trying one for merchantß. planters, and others engaged in business in the Pacific Islands. Values of ail lines proved unremunerative to tin* producers, which hail the effect of considerably curtailing the spending power In the various centres, with the result thnt a heavy shrinkage took plnce in ihe penernl merchandise business at tht* branches and* trading stations, and which became reflected in reduced proiits. Owing to ttvi.i ing restrictions imposed In tli>- Mnndinll I Islands. The company suffered jt heavy I>i*h through being precluded from continuing trading in thnt territory now held by the Japanese under mandate fmm the League of Nations. The board regrets .•xce.-dinfc'l.v being compelled t" pads the dividend •>» this oeensioii. There appears every pr.. hal.ility. however, of t he »|J' n ' , ™J vi) n r" •'n.'i"' , hc",'l'i'rec,',^' l l,o|" ! "to be nlile to "fldvise'the aharpholrierx in the n«l balance sheet issued, tb.it « dividend is again pay-