FINANCE AND COMMERCE.

Press, Volume LXIX, Issue 20790, 25 February 1933, Page 16

FINANCE AND COMMERCE.

WOOL MARKET. THIRD DUNEDIN AUCTION. NEXT WEEK'S OFFERING. ITHE PEE S3 Special Service.] WELLINGTON, February 24. At the third Dune din wool sale to bo held on Tuesday, 30,315 bales will be submitted. The offering includes a good j many large station clips. These are for the most part heavier in condition and on the whole not quite so attractive as the clips which have made up the earlier catalogues this season. There are soino notable exceptions, and anything showing super quality may expect to meet a keen demand from local mills. The market generally may be expected to be somewhat easier if it follows the course of recent auctions. The lower level of ruling export prices and generally unsettled conditions can hardly fail to produce a price strength which must compare unfavourably with market conditions at the second Dunedin sale in January. BRADFORD TOPS MARKET. iUKITBD PttJESS ASSOCIATION —BY ELECTS}#: TEXECRAPH—COFIBIGHT.) ' LONDON, February 23. The Bradford tops market is quiet, Quotations; Seventies 23d, six-four's 21|d, sixties 21d, fifty-sixes 18d, fifties 12d, forty-sixes 9d, forties BJd. BANK OF AUSTRALASIA. DIVIDEND ANNOUNCEMENT. U'KXSS ASSOCIATION TILEGBAM.) WELLINGTON, February 24. A dividend at the rate of 8 per cent, per annum has been declared by the court of directors of the Bank of Australasia. An interim dividend of .Is a share (less British income tax at os in the £) was paid on September 30, 1932, and 4s a share (less British iucome tax at 5s in the £) will be payable on March 31, jnaking a distribution for the year at the rate of 7 per cent. The dividend will be payable at the Sew Zealand current rate of exchange. The sum of £169,783 2s is carried forward. The dividend has been declared after making a transfer to the credit of the contingency account, out of which account provision for all bad find doubtful debts had been made. The dividend paid in April, 1932, was 4 per cent, (less English income tax of 4s M in the £), and in the preceding October 5 per cent., making 9 per cent, for the year'. In 1930 the dividend wan 13 per cent., and for several years preceding 14 per cent. Last voar's dividend represented a distribution of £343,500. The sum cartiec! forward into this year's accounts wns £151,063, compared with £169,783 into next year. The paid-up capital of the hank is £4,500,000, and the reserves at tho last annual balance were £i,626,003.

CARGOES, PARCELS, AND FUTURES. LONDON, February 23. For wheat cargoes sellers' - demands were occasionally higher, hut trading wajj inactive. Parcels were 'in poor demand, and Australians can- be obtained at reduced prices! Future are quoted: — London (a quarter)— Feb. 21. Feb. 23. ''• b. d. s. d. February .. 1!) 6 19 4 April .. 10 5 19 4 Liverpool (a cental) — Marsh .. 4 6J 4 G| May •• 4 ~l 4 'i July .. 4 94 4 9 October - • 4 115 4 lli Bpot trade ia slow, Australian, cx ship, 25s' to 26b 3d. CHICAGO WHEAT FUTURES. (Received February 24, 7.12 p.m.), , CHICAGO; February 23. , Cents a bushel. Feb. 18. Feb. 21. iiav .. 48 m July •» .. 48ft 48i September .. . 49} 49 jj New York (cash) .. 57i 56§. FUICE OP GOLD. (UKITEO PBCSH ASSOCIATION —ELS&CT3IO TEUSGEIVH—COPTOIQHT.) LONDON, February 23. Gold (a fine-ounce) is quoted as follows: — , . £ s. u. February 23 ... ... 6 2 0 February 21 ... ... 6 0 6$ February 20 ... ... t> 0 63 February 17 ... ... 6 0 5 (nominal) Lf'ebriiiu'y 10 ... 6 0 lj February 15 ... ... 5 19 9£ PRICE OF SILVER. IBBiTisn omci&L vibslksb.) (Iteceived February 24, 7.15 p.ui.) BUGBY, February 23, Silver (pepce an ounce) is quoted:— Feb. 22. Feb. 23. Spot ..17 17 5-16 Forward .. 171-16 17 3-8 AUSTRALIAN PRODUCE. MELBOURNE MARKET. • —r* ' (Uitt'MO -?SB8B JIShOCtATtOH Bsf BMCTMC T?LISQBAJ'H—COrYBIQHT > ' MELBOURNE, February M. WheaS-i» ftri to 2s f)d. D'lom—J£7 103. Brun' itnd Pollard—Both A'l Jss. , ,U»U—to 2j» Id. . Barley 2a Id to th. &tl. . Maize—E« i.o 6a id. ' oiowi—Dull; £2 to £3 2* (Id.

(CONTINUED.)

BANK OE ENGLAND RETURN. (VMITZ9 P3ESS ASSOCIATION—BI ELBCTBIC TEL2GBAPH—COPYRIGHT.) (Received February 24, 5.5 p.m.) LONDON, February 23. Xh« following is the Bank of England xetiiin for the week ending February 23: ISSUE DEPARTMENT. £ £ Notes Issued— Govt, debt 11,015,100 In circular Other Govt. tioil .. 356,249,195 securities '245,3-15,292 In banking Other eecudept. .. (30,906,836 rites ... 14,933,235 Silver coin 3,711,353 Fiduciary issue .. 275,000,000 Gold coin it bullion 112,216,031 Total 417,246,031 Total 4^7,246,031 BANKING DEPARTMENT. S * Fioprietors' Govt, secucapital . 14,553,000 rites .. 86,380,258 The rest . 3,640,872 Other secuPublic de- rilies—posits .. 26,184,171 Discounts Other and addeposits vances . 11,918,3^3 Bankers' 98,299,763 Securities 17,626,389 Other acs. 35,008,862 Notes .. 60,996,836 Seven-day Gold and and other silver coin 736,838 Bills .. 2,006 Total 177,668,674 Total 177,688,674 Proportion of reserve to liabilities, 38.70 per cent.; short-dated bills, 2 per cent.; tilrao months' bills, J per cent. Tho fiduciary issue of £275,000,000 consists of the following debt, other Govcrnmant ascurities, other securities, and silver coin. GOVERNMENT SECURITIES. (UNITED PRESS ASSOCIATION—BT ELECTRIC TBLJSOBAPH—COPYBIGHT.) (Received February 24, 5.5 p.m.) • LONDON, February 23. The following are the latest quotations ol Government securities compared with th« prices ruling on February 16:— Last week. This week. £ i. d. £ ». d. Consols .. 74 2 6 74 0 0 Funding Loan, 4 ' p.c. r 1960-00 110 0 0 110 5 0 Assented War Loan 99 5 0 99 5 0 Conversion Loan, 3J p.c. . . 99 17 C -99 17 6 Victory Bonds, 4 p.c. (ex div.) 109 10 0 107 12 C Commonwealth, 5 - p.c.. 1945-47 106 1- 3 106 5 0 Commonwealth, 6 p.c.., 1945-47 " 101-16 3 101 15 0 Commonwealth, 31 p.c., 1936-37 . 101 12 6 101 11 3 Victoria, 3 p.c., * 1929-40 .. 87 10 0 87 15 0 Victoria, . 31. p.c., ... 1 1929-40 .. 96 0 0 96 5 0 Victoria, 61 p.c., 1930-40 6 103.10 0 103 15 0 Victoria, . 5 p.c., 1932-42 . . 103 0 0 103 2 6 : Victoria, 43 p.c., 1940-60 . . 103 2 6 103 2 6 New South Wales, 4 p.c., 1936 .. 101 2 6 101 6 3 New South Wales, 3 p.c., 1935 . . 100 0 0 100 0 0 New South Wales. 34 p.c., 1930-40 93 17 6 94 0 0 New South Wales. 6h New South Wales, 6 p.c., 1030-40 103 2 0 ' 103 0 0 Queensland, 5 p.c.. Stock, redeemable, 1940-60 104 15 0 104 15 0 Queensland, 3 p.c., 1928-47 . . 88 2 6 88 1 3 Queensland, 6 p.c., 1920-40 . . 102 2 6 101 15 0 New Zealand, 41 p.c., 1945-47 .107 7 6 107 15 0 New Zealand, 31 p.c., 1940 . . 100 0 0 99 17 6 New Zealand, 3 p.c,, 1945 -:'92 17 >6 , 92 18 9 New Zealand, 6 •p.c., 1936-51 ..'lO7 0 0 107 0 0 South Australia, 31 £.c., 1939 .. 100' 15 0 100 15 0 South Australia, • 3 ' p.c., 1916, or ."alter QT 0 0 77 0 0 South Australia, -61 - - ' ■ p.c., 1930-40 . . 101 15 0 101 15 0 Tasmania, 31 p.c., ' 1930-40 i 93 15 0 . 99 12 6 Tasmania," 3 p.ci, 1910-40 .< 94 0 0 94 0 0 I Tasmania, 61 * p.c., 1930-40 .. 102 5 0 102 0 0 Western Australia, 31 p.c., 1926-36 101 2.6 101 5 0 Western Australia, 3 p.c., 1915-35 99 15 . 0 100 0 0 Western Australia, 6 p.c., 1930-40 102 12 6 103 15 0

FOREIGN EXCHANGES. (B&lTlaH OFFICIAL WIBEUBS.) (Received February 21, 5.5 p.m.) BUGBY, February 23. Par. Feb. 22. Feb. 23. Paris,- fr. to a■ "■ 124.21- ' 86J 865 New Jfork, dol, to XI 4.36 IS . Montreal, dol. to; £1 4.863 . 4.06J i.o9i Brussels, belgaa to £1 35 24.25} 24.26J Geneva, fr. to ill ... 25.2215 17.49£ . 17.50J Amsterdam, fl. to £1 12.107' . 8.421 8.434 Milan, lire to £1 .. • 93.43 ' 66g 66J Berlin, reichmarken - * to £1 .. .. 30,43 14.241 14.254 Stockholm, kr. to £L 18.159 ' 18.85 18.85 Copenhagen, kr. to £1 18.159 22 7-10 . 22 7-1G OaJo, kr. to £1 ... 18.159 19.50 19.50 Vienna, echga. to £1 34.585 30 30 (nom.) (nom.) Prague, kr. to £1 . ... 164.25 115J 114g Helsingforu, marks to „£1 ■■ . ■ .. 193.23 2264 2204 Madrid, peseta* to r . 25.2215 41.1-16 41* Lisbon, escudos to , ' •• •• 110 110 110 Athens, drach to £1 375 GO7J '605 Bucharest, lei to £1 813.0 675 570 Belgrade, dinars _.. 23.2215 250 250 Rio de Janeiro; pence to milreis ~ 6.892 Si " 5§ Buenos -Aires,- pence to dol. .. .I 47.577 41J 41} ~ , , (official) (official) Montevideo, ppnee to dol. ' ..51 S3 33J t> , ' , (nom.) (nom.) Bombay,, pence to rupee .. 18 18 5-32 18 5-32 Shanghai, pence to tael. .. » 20 3-15 20J Hon;* Kong, pence to dol. .. * is; i.-n Yokohama,' pence to « « yen 31,5 c 145.1 c 14 7-1G Warsaw, par zlotja to fl .. 43.38 _ _ Batavia, guilder .. 12.107 _ _ * Determined by prico of silver. METALS MARKET. (Received February 24, 9.27 p.m.) LONDON, February 23. Quotations: — Feb. 22. Feb. 23. ~ a ton. a ton. Copper-, £ B . d. £ g d. Standard, spot .. 28 B'9 oa c q Forward .. .. 28 13 lj 2813 9 -Electrolytic ....... 32 7 6 Wire bara Amenceifi ©lectrolytic: -5 ce?its per lb Lead—®Pot I'd 11 3 10 11. 3 Forward .. .. 10 15 0 10 15 0 Spelter—Spot ... _ , u . 0 0 14 j 3 Forward .. : ... 34 5 0 11 6 3 Tin— * • Spot, •. ... . ' I4fi 6 s 14 7 17 fi forward, .v . ...148 13 9 <llß 8 9 Silver— ; . ; . •. Standard, per oi. 17d •< 17 5-16 d Fme.'jPer.oz' .. . isSrlfid 1811-lGd Coucerns merchandising products of good : qUaJity can ileverop the', unparalleled sales opportunities in Canterbury most effectively and most economically through the advertising columns of The Press. —6