THE MONEY MARKET.

Auckland Star, Volume LXII, Issue 167, 17 July 1931, Page 4

THE MONEY MARKET.

CONSOLS AND STOCKS. SOME HEAVY DECLINES. DROP IN VICTORY BONDS. (Received 12.30 p.m.) LONDON, July 16. The following table gives quotations for consols and colonial inscribed stocks, compared with those of July 9 :— VariaPrice. tion. £ s. d. s. d. Consols 21 59 2 6 10 O* Sff&WXßr iS J I 5 5 SS7'iS± , % .I:: tU »° <£ tCom'wealth, 5, 1945-75 . 76 15 0 50 0* Com'wealth 6 1931-41 . 88 10 0 50 0* New Zealand, 4J, 1948-58 94 10 0 22 6* New Zealand, 3J, 1940 . 87 12 6 7 6* New Ze-aCd 8,1945 .. 76 10 0 12 6* New Zealand, 6, 1930-51 102 10 0 sOf ♦Lower, f Higher.

BANK OF ENGLAND RETURNS. (Received 10 a.m.) LONDON, July Ifi. The Bank of England returns for f, '" week ended July 16, as compared with. those for the week ended July 0, are as follow:— , , ~„ ~ , „ July 16. July 9. Note circulation 300,257,000 K" S&T S» Site Other deposits 99,530,000 finvt securities .... 30,021,000 31,826,000 Other securities .... 37,571,000 34,940,000 Proportion of reserve to liabilities 57.20 57.70 The Bank of England rate of discount is 2i per cent, to which it was reduced on May 13 from 3 per cent. SHORT LOANS AND BILLS. Short loans, 15 per cent, are the same as last week, and three months bills, 2| per cent, compare with 1J per cent.last week. NEW YORK CALL RATES. (Received 10 a.m.) NEW YORK, July 16. Call money in New York has ruled all day at 1% per cent. THE CANADIAN DOLLAR. MONTREAL, July 16. The Canadian dollar is quoted to-day at $4.86% to the £ sterling. BANK LOCAL BODY LOAN. K short-dated loan of £500,000 for six months from the Union Bank of Australia, Ltd., and the Bank of Australasia, has been arranged by the finance committee of the Melbourne Board of Works, subject to the approval of the board. .Che loan, which will date from July 1 to December 31, will be issued on two debentures ot £250,000 each, and. will bear interest at QYz per cent.

OVERSEAS MARKETS. FROZEN MEAT. PRICES AT SMITHFIELD. Messrs. Dalgety and Co., Ltd., report having received the following cablegram from their London house, dated 16th in Lamb—Canterbury, 281b to 361b, VM; 361b to 421b, 7d; second quality, 6%d; 421b to 501b, 6%d; North Island, 281b to 361b 7d; 361b to 421b, 6 7 /sd; second quality, 6%dj 421b to 501b, 6%d. The market for New Zealand lamb is dull, and stocks are heavy. The demand is moderate. Mutton.—Canterbury, 481b to 561b, 4%d; 561b to 641b, 4%d; 641b to 721b, 4%d; North Island, 481b to 561b, 4%d; 561b to 641b, 4V 2 d; 641b to 721b, 4%d. Canterbury ewes, 481b to 641b, 3%d; North Island ewes, 481b to 641b, 3%d. The market for New Zealand mutton is fair. Australian Lamb.—G.a.q., 281b to 361b, 5%d; 361b to 421b, 5%d; f.a.q., 281b to 361b, The market for Australian lamb ie unchanged. The demand is moderate. Australian Mutton.—G.a.q., 401b to 601b, 3%d; f.a.q., 301b to 551b, 3%d. The market for Australian mutton is weak. The demand is poor. Beef. —New Zealand prime ox beef, hinds 2%d, fores 2d; Argentine chilled, hinds sVid. fores 2Vzd. The market for New Zealand beef is nominal. The demand is nil.

Pork—English, 801b to 1001b, CVad; New Zealand porkers, 801b to 1001b, s '/id; 1001b to 1201b, 49id. The market for New Zealand pork is unchanged. The demand is poor. BRADFORD SLACK. The Bradford market is slack and indifferent, with no new business. Quotations arc unchanged. To-day's quotations compare as follow with those previously cabled:— June June July July July 18. 25. 2. 9. 16. Sixty-fours ... 21 22 23 23 22 Sixties 20 20 21 21 20J Fiftv-sixes ... 13J 13£ 14 14 14 Fifties 12 12 12J 12J 12 Forty-sixes ... 9J Oh 10 10 10 Forties OS 9J 10 10 10 WHEAT CARGOES, ETC. (Received 12.15 p.m.) LONDON, July 17. Wheat cargoes are steady at 3d down. Parcels firmed 3d to 6d. Futures:—London: September, 18/7 per quarter; December, 19/4. Liverpool: July, 3/liy2 per cental; October, 4/2%; December, 4/494; March, 4/6 to 7/8. Spot trade is slow. Australian, ex ship, 22/6 to 23/9. Flour is easier. Australian, ex store, 17/. Oats are occasionally lower. Peas and beans are quiet. BEET SUGAR. Beet sugar is quoted for delivery August at 6/iYz. CHICAGO WHEAT VALUES. (Received 10 a.m.) CHICAGO, July 16. Wheat for delivery in July is quoted at 53% cents per bushel, for delivery in September at 54% cents, and for December delivery 59 cents. AUSTRALIAN PRODUCE. SYDNEY, July 16. ■ The following are to-day's quotations on the Sydney produce markets: —Wheat: The market is brighter, ex trucks, at Sydney, 2/3; at country stations, 1/8. Flour," £10; pollard, £4; bran, £3; potatoes. Tasmanian £6, Victorian £5; onions, Victorian, £o 10/; oats, Algerian and White, 2/6; maize, 3/7. (Received 10 a.m.) ■VfELBOURNE, this clay. Wheat is quoted at 2/5 per bushel; (lour, £6 15/ per ton; bran, £3 15/; pollard, £4 5/; oats. 2/5 per bushel; barley, English, 2/7 to 2/8; maize, 4/ to 4/2. "