COMMERCIAL.

Hawke's Bay Tribune, Volume X, Issue 177, 12 July 1920, Page 6

COMMERCIAL.

THE ENGLISH MONEY MARKET.

London, July 10. The turn of the half-year saw the usual abundance of funds in the money market. The market is less apprehensive regarding the future than a fortnight ago, when it was feared eight per cent, would be the bank rale. Owing to the fiduciary issue of currency notes approaching the maximum limit, an increase in the bank rate is now believed unlikely, excepting for abnormal develomnentj*. a doubtful factor being the mor'eiarv situation in New York. The reuueHt is generally made that the Government should declare its intention regarding the faJKialled dear money policy in order -o inspire the business community with greater confidence. Foreign exchanges continue to be dominated by the Spa Conference, especially French. Belgian. and Italian. The half-yearly dividends of the leading banks equal January’s. The Stock Exchange shows more cheerfulness. activity, and steadiness though there is no great recovery, with certain exceptions., mostly sound investment shares. At the same time, the investor apparently considers the abnormal industrial profits have reached the limit. Consequently there is an awakening interest in gilt-edged stocks and shipping shares show an improved tone on the prospect of complete decontrol, but the drop in foreign freights ‘is a disturbing factor. LONDON MARKETS. London. July 10. Cotton —Liverpool quotation. American middling upland. August delivery, 23.33 d per pound , Rubber—Fine, hard Para Is lid: plantar tion, first latest crepe Is Hid; smoked, ribbed sheet. Is IOS<I. Hemfi —Dull. May-July shipment, £54. Jute—Quiet. August-September shipment £5l 10s. Copra—Quiet, July-September shipment, £46. normal. Linseed Oil—£73 per ton, equal to 7s lOd a - gallon. f • Turpentine—l6ss per cwt., equal to 12s 5Jd a gallon.