LONDON MARKETS

Dominion, Volume 29, Issue 99, 21 January 1936, Page 12

LONDON MARKETS

Tallow and Hemp Quiet

The Department of Agriculture has received the following cablegram, dated January 18, from the High Commissioner for New Zealand, London: — Tallow: -Market very quiet on rqrot. Little interest shown .for shipments; quotations nominally unchanged. Hemp: Manila—Market: quiet but steady, witli vuluew unchanged. Stocks in the United- Kingdom at January 1, 9250 bales, against 24-SSI bales at the same time last year. Sisal—Market firm, with good 'demand. February-March and March-May shipments sold at £2B/10/-. New Zealand —No change to report. Up to the present no sign of trade interest expanding. Stocks in London at January 1, 29 tons, against 30 tons at the same time last year. Australian Price of Gold The price fixed by the Commonwealth Bank for gold, including jewellery, lodged at Ihe .Melbourne Mint, for the week ended January 10, is at the rate of approximately £7/19/3 per standard ounce (22 carats), equal to. a premium of 104.48. Payment is made according to the assay value of gold. The price is 1/01 lower on the week. 'The price per ounce fine is £8 13/Sl. being a fall of 1/2 on the week. Queensland Conversion Loan A loan of £2,793,690. which was floated in Australia by the Queensland Government in 1920-21 will fall due on January 31 and steps have been taken through the Loan Council for its conversion. The loan was originally issued with interest payable at 61 per cent., but under the Debt Conversion Act the interest rate was reduced to £5/0/9. Mount Isa Mines Operations of Mount Isa Mines, Ltd., Queensland, for the year ended June 30 resuited in a loss of £8195. compared with a loss of £166.315 for 1933-34, and £200,973 for 1932-33. The Joss, which was arrived at. after providing £229.662 debenture mid loan interest, and before charging depreciation increases the debit balance to £413,301. Metal sales realised £991.886. N.Z. Pound Abroad Based on the figures quoted by the Bank of New South Wales, the New Zealand pound, compared with its original .par value, is equivalent to approximately: 16/1 in London. £l/0/1 in Australia. 16/3? in U.S.A. 16/4 in Canada. 9/6? in France. 9/51 in Germany. 9/5i in Java. £l/7/91 in Japan.