MONEY AND MARKETS

Evening Star, Issue 19918, 14 July 1928, Page 4

MONEY AND MARKETS

BANK OF ENGLAND RETURN. press Association—By Telegraph—Copyright LONDON, July 12. The following is the Bank of England return: — ISSUE DEPARTMENT. Note circulation ... £136,361,000 Notes in reserve 54.397,000 £181,353,000 Government department ; £11,015,000 Other securities ■ ... ... 8,735,000 Gold coin and bullion ... 171,608,000 £191,338,000 banking department. Proprietors’ capital £14,.>,3.001) Rest 3,403,01 K) Public deposits Hi,'210,000 Other deposits ... 101,703,000 Seven-day and other hills 3,000 ■ . £138,903,000 Government securities ...- ... ... ... Other securities ....... .... Notes in reserve ... ... u4i9J7,OK Gold and silver coin ... ... 2,748,000 £138,903,000 The proportion ot reserves to liabilities is 47.7 per cent. Short loans are quoted at 3£ per cent., and three-month .bills at, 3 31-32 per cent. —Australian Press Association % LONDON STOCK EXCHANGE. Prou Association—By Telegraph—Copyright LONDON, July 12. The following are the latest quotations for Government securities: —

Australian Press Association-United Service. ' foreign exchanges. Preis Association— By Telegraph-Copyright. . LONDON, July 12.

Prague, kroner to £1 ■*»*** —Australian Press Association-United Service. . the metal market. Pmi Association —By Telegraph-Copyright LONDON, July 13. Copper: Spot, £62 16s 10id; forward, Spot, £S6 15s, forward, ss. Wire bars, £69 os. Lead: Spot, £2O 8s 9d; forward, £2O. 17 Spelter: Spot, £25; forward, £24 18s 9d Tin: Spot, £209 Is 3d; forward, £205 Standard, 27 5-16 d; fine, 29id per oz.— Australian Press Association. WHEAT, FLOUR, ETC. Prett Aai’oistion —By Telegraph Copyright LONDON, July 12. Wheat: Cargoes are inactive at a decline of 3d to 6d, with practically no inquiry except for Australians for India. Parcels arc quiet at a decline of 3d to Is Hd. .. Liverpool futures; July Os lOfd, Oc tober 10s 2|d, December 10 Jd. Spot trade is slow; Australian, ex dull; Australian, ex store, are weak; Australian Algerians, 31s Cd: A grade Cartons, 345. Peas; Blue are steady; Tasmanian, 400 s to 4205; New Zealand, 380 s to 49 Maples are dull; Tasmanian, 77s 6d to 80s; New Zealand, 70s to 72s 6d. New Zealand beans are firm at lbs to 50s.—Australian Press AssociationUnited Service. P. AND O. SHAKES. press Association—By Telegraph—Copyright LONDON, July 12. P. and 0. Deferred Stock is quoted at £239. —Australian P.A.-United Service. CHICAGO WHEAT QUOTATIONS. grew Association— By Telegraph—Copyright NEW YORK, July 12. Chicago wheat: July, 130* cents per bushel; September, 134; December, 138.—Australian Press Association. AMERICAN BANK RATES. Press Association—By Telegraph—Copyright NBWYORK, July 12. The Federal Reserve Banks at Richmond (Virginia) and New York have increased the rediscount rates from 4* pox* cent, to 5 per cent., following a similar increase by the Chicago Bank. This increase was unexpected in many quarters, due to the belief that the deserve Board would believe it unnecessary in the light of recent increases. However, the Chicago lead has seemed to start advances. Boston is expected to follow suit. AUSTRALIAN MARKETS. hiest Association —By Telegraph—Copyright SYDNEY, July 12. The wholesale price of butter has hcon increased Id per lb to 196 s a cwt. Wheat; Growers’ bagged lots, at country stations, 4s 9d; ex truck at Sydney, 5s 4d. Flour: The export trade is lifeless. Local, £l3 10s. Bran, £C 10s. Pollard, £7 10s. Oats: Tasmanian Algerian, 4s 9d to Is lOd; white, 4s 6d to 4s lOd. Maize: Yellow, 3s 9d; white, 4s 4d. Potatoes; Tasmanian, £5 to £7; Victorian, £3 Ids. Onions: Victorian,- £l4. ADELAIDE, July 12. Wheat: Growers’ lots, 5s 2)d to 5s 3d. Flour: Bakers’ lots, £l3. Bran, £5 17s 6d. Pollard, £7.2s 6d. Oats, 3s 3d MELBOURNE, July 12. The hide market has a strong tone. Mediums and lights advanced id to id, and kips id to id, July 18. Wheat: Quiet. Parcels, 5s 6d. Flour, £l2 17s 6d and £l3 2s 6d, Bran: Quiet, £6 10s. Pollard. 10a,

Oats: Dull. Milling, 3s 7d and -Is. Barley: English malting, 5s 4d and 5s 5Jd; Cape, nominal, 4s. Potatoes, £2 10s and £3 ss. Butter: Firm; Is Sd. Cheese, lid. TALLOW MARKET. The Bank of New Zealand has received the following cable advice from its London office, under date 11th inst.: —Tallow: There is a fair demand. Current quotations, good mutton, 42s to 42s 6d per cwt; good beef, 41s 6d to 425; good mixed, 41s to 41s 9d; gut, 36s to 38s 9d. __ GRAIN IMPORTATION. GOVERNMENT RESTRICTIONS. [Per Dunam Press Association.] WELLINGTON, July 12. Gazetted to-night are regulations prohibiting the importation of tho following goods from the, Commonwealth of Australia save with the consent of tho Minister of Customs: — From the States of Queensland and Western Australia: Oats, barley, maize (including maize' ground or crushed, but nor otherwise manufactured), hay, straw, and chaff; and. further, save with the consent of the < Minister of Agriculture the importation from any State in the Commonwealth other than Queensland and Western Australia of oats, barley, maize (including maize ground or crushed, but not otherwise manufactured), liny, straw, and chaff. The following Orders in Council dealing with tho importation of goods from the United* States and the Commonwealth were removed:--March 4, 1924; July 30, 1924; December 8, 1924; August 30, 1926; October 22, 1926..

imperial Consols, 3* per cent £55 15 0 War loan. 5 p.c., 1923-4? (ex interest) 101 10 0 Conversion loan, 3J p.c. 78 2 G Commonwealth 6 p.c., 1931-41 103 5 0 Commonwealth 5 p.c., 1915-7i> ... 98 5 0 New Zealand G p.c., 1936-51 10G 10 0 New Zealand 4 p.c.. 1929 ... 99 1*2 6 New Zealand p.c,, 1910 87 5 0 New Zealand 3 p.c., 1045 •••••• 79 10 0 New South Wales C£ p.c., 1930-40 ... .103 7 6 New South, Wales 6 p.c., 1922-32 ... 101 2 6 New South Wales 5J p.c., 1930-40 ... 100 17 (f New South Wales 4 -p.c., 1033 ... ... 92 17 6 Now South Wales 3J p.c., 1930-uO ... 85 12 (> New South Wales 3 p.c., 1955 76 0 0 Victoria 5\ p.c.,' 1930-40 ... .«• ••• 101 10 0 Victoria, 5 p.c., 1932-4*2 • ... 99 0 0 Victoria 4J p.c., 1940-00 - 94 7 6 0 Victoria 3$ p.c., 1920*49 17 10 Victoria 3 p c , 1929-40 V, 71 0 Queensland 6 p«c., 1930-40 ... ... ... Queensland 3J p.c.. 1M0 101 90 0 0 0 0 0 Queensland 3 p.c., ... ... ... 101 ° South Australia 6$ p.c., 19J0-40 ••• 17 G 6 South Australia 3i p.c., }‘ )6J South Australia 3 p.c., 1D1G or after ... 84 7 60 10 0 West Australia 6 pc. 1930-40 ... ... 103 15 0 West Australia 9$ p.c., 19-0-3o 88 lo I) West Australia 3 p.c., ... ... Tasmania GJ p.c., 1930-40 Tasmania p*c., 13-040 Tasmania 3 p.c., 1920-40 ... ... 66 101 84 81 10 15 0 6 0 n

July 9. July 13. Paris, franc to £ Brussels, belgas to Oslo, kroner tc ... 121.03 ... 34.91 ... 18.21 124.25 39.01 18.20 18.16 18.20 20.41 4.87 £ 4.80 7-16 22 13-10 Stockholm, kroner to £1 Copenhagen, kroner to £1 Berlin, reichmarken to £1 Montreal, dollar to £1 New York, dollar to jfl ... 18.17 ... -18.20 ... 20.40 ... 4.88 6-16 ... 4.871-3 23 13-Id Yokohama, pence to yen Hongkong, pence to dollar $4 9-16 17 15-16 24 11-16 17 15-16 Calcutta, pence ro Batavia, guilder to £i Z 12.114 12.09J •J2.87 Rome, Ure to Amsterdam, kroner to £1 .’!! iSiosj1fi5 5-16 13.08J 1644