COMMERCIAL

Evening Star, Issue 17599, 2 March 1921, Page 8

COMMERCIAL

LONDON MARKETS,

LONDON, February 28. Copper : Spot, £6B 7s 6d; forward, £67 16(1 • Lead : Spot, £l7 10s; forward, £lB 10s. Spelter: Spot, £23,155; forward, £34 10s Tin ; Spot, £169 15s; forward, £163 15s Silver, 33d por oz. FOREIGN EXCHANGE RATES.

LONDON, February 28. Tho foreign exchange rates on London afford the following comparison : Feb. 24. Feb, 23.

HIGH COMMISSIONER’S CABLE, MEAT, DAIRY PRODUCE, AND WOOL. [Pia Dmixbd Pjuss Association] WELLINGTON, March 1. Tho Department of Agriculture has received tho following cablegram, dated February 26, from the High. Commissioner for New Zealand in London Meat.—Chilled beef is in largo supply, and selling at to Is per lb for hinds and 8d per lb for fores. There is also a large supply of South American frozen beef selling at 9d per lb for hinds and 5d per lb for fores. Tho result is New Zealand beef is not being placed on the market and is accumulating. Frozen mutton is also neglected owing to large supply of beef available. New Zealand lamb is in good demand. Last week about 70,000 carcasses from America wore marketed, and commanded tho maximum price of Is Id per lb. It is reported that a sale of New Zealand lamb from America has been made at Is per lb, c.i.f., for delivery in March. A email quantity uf Now Zealand mutton from America is ni tho market, and is selling at 8d per lb for mixed parcels showing signs of storage. Homo killed prices are maintained : Beef, Is sd; mutton, Is 9d; and lamb, 2s j Id per lb. Butter.—lrish supplies and prices are irregular. New made creamery (unsalted) is selling at up to £lB 15s per cwt (3s 4d I per lb); creamery, ex stores, varying from £l4 to £ls 10s (2s 6d to 2s 9d per lb). For Government there is no change in price (viz., £l4 18s 8d per cwt wholesale and 3s per lb retail). For Danish tho price is £ll 6s per cwt (2s per lb), f.o.b. The average price of English is £2O 12s por cwt (3s 8d per lb). Cheese. —There are small supplies, and the Government price is unchanged—viz., Is 4jd per lb wholesale and Is 8d per lb retail. English is quiet and scarce at £8 8s to £9 2s per cwt._ (Is 6d to Is 71d per lb). Canadian supplies are small. Whito is quoted at £7 14s to £7 16s per cwt (approximately Is 4i,d per lb); colored, £7 18s to £8 per cwt (approximately Is 5d per lb). New Zealand is in good supply, with an easier tendency. White, £7 bs to £7 8s per cwt (approximately Is 3|d per lb); colored, £7 16s to £7 18s per cwt (approximately Is 4|d per lb). There will bo no further arrivals until March 26, and a reaction is expected in quotations, as it is anticipated that the Government stocks will be cleared early in March. Hemp.—The Manila market is depressed and declining, and there are now sellers for November-January to February-April shipments at £4l. For New Zealand the market is idle. Nominal quotations are : Spot, high points, £46; fair, £44 per ton; afloat, £43 and £4l respectively, with probable buyers of afloat at 20s less. Wool. —Tho sales are proceeding, and competition is a little better all round, with the value better. Merinos have slightly improved on tho opening rate. A good selection of New Zealand greasy cross-breds was offered, and finer quality sold well on the basis of recent rates, inferior selling slowly. Sliped and scoured also attracted more attention. Casein.—Present stocks of British are very heavy’, and all producing countries

aro eager sellers. The market is depressed, and prices are low. Present quotations for rennet are ; Good Australian or New Zealand, £110; French, £llO to £125; Lactic, £BO to £100; all per ton, ex wharf, London. THE WOOL MARKET. Pr#»* A»«o«»tion—By Telegraph—Copyright. LONDON, February 28. At the London sales of “Bawra” wool there was no demand for low cross-breds, all qualities being inferior. They were withdrawn. The prices for other sorts was unchanged. —A. and N.Z. Cable. SYDNEY SALES. SYDNEY, March 1. The wool sales have been resumed. In sympathy with the London market, the demand has weakened. Fleece wool declined a further 10 to 15 per cent., and cross-breds 5 to 10 per cent. Mediums and faulties are neglected, and there have been heavy withdrawals.—A. and N.Z. Cable.

Paris (fr.) ••• ... 54.05 54.37 Christiania (kr.) ... ... 22.23 '22.55 Stockholm (kr.) ... 17.23 17.54 Montreal (dol.) ... 4.41 4.42 New York (dol.) ... ... 3.87-4 3.874 Yokohama (yen) ... 29p 29p Hongkong (dol.) ... 29i 29j Berlin (mark) ... . 23.8 24.5 Calcutta (rap.) ... 2.51 — A. and N.Z. Cable.