FARMING AND COMMERCIAL

Manawatu Standard, Volume LIII, Issue 51, 27 January 1933, Page 5

FARMING AND COMMERCIAL

BUTTER AND CHEESE; LONDON MARKETS DULL. The Now Zealand Loan and Mercantile Agency Coy., Ltd., have received the following advice from their London Houso, dated January 25: —Dairy produce (last week’s quotations in parentheses): Butter, New Zealand choicest salted, 795-80 s per owt. (81s). Cheeso, white, 46s (48s); coloured, 58s (565). Market quiet. Dalgety and Co., Ltd., are advised from London under date January 25: Butter; Market weak. Danish, 106 s to 108 s (106 s). New Zealand finest salted, 78s to 80s (80s to 81s). Australian, finest unsalted, 78s to 803 (80s to 84s); Australian finest salted, 76s to 78s (78s to 80s); Australian g.a.q., 72s to 74s (76s to 775). Cheeso: Market slow. New Zealand white, 45s to 46s (46s to 475); coloured, 58s to 59s (56s to 575). Spot price for Canadian white, 60s to 68s (60s to 68s); coloured, 62s to 68s (62s to 68s). (Last week’s quotations are shown in parentheses). EKETAHUNA SALE. A good entry of sheep, chiefly lambs, was offered by Dalgety and Co., Ltd., at Eketahuna this week. Good shorn wether lambs made 8s 8d to 8s lOd; woolly wether lambs, 8s lOd to lls 3d; b.f. rape lambs, 10s 4d to 10s 9d; ewe larnbs, 7s Id; other lambs, 4s 4d to 7s 3d; 2-tooth wethers, lls 6d; small 2-tooth wethers, 9s lOd; fat wethers, 14s 8d; m.a. ewes, 4s Id. MASTERTON SHOW JUDGES; The following judges from the Manawatu and adjacent districts have been appointed to officiate at the forthcoming Mastorton show: —Lincolns, Mr W. Pringle, Dannevirke; Romneys, unhoused, Mr S. A. Small, Feilding; Southdowns, unhoused, Mr E. Burrell, Feilding; Corriedale, Mr L. Andrew, Marton; Ayrshire, Mr D. Buchanan, Tiakitahuna; Jerseys and grade cattle, Mr C. C. Dermer, Feilding; Friesians, Mr A. Burgess, Rongotea; pigs and draught horses, Mr J. M. McLinden, Massey College; ponies and harness, Mr E. Burrell, Feilding; dogs other than terriers, toys and Alsatians, Mr R. L. C. Aitchison (Palmerston North). HIDES AND SKINS. BETTER AUCKLAND PRICES. AUCKLAND, Jan. 26. At the fortnightly sale of hides and sheepskins at Auclyind there was a lull attendance of buyers, both local tanners and export dealers operating freely. Values were higher as a consequence of tho altered exchange rate. Hides wore up from id to §d per lb, and skins about the saino. Local tanners secured the bulk of the hides, whilst most of the dry skins went to shippers. The range of prices was as follows: Sheepskins.—Dry: Fine crossbred, 4|d per lb; coarse, 3d; medium, 3RI; half to threequarter wool, 3d; short to half wool, 2gd; quarter wool, 2d; lambs, 4£d; pelts, 2Ad. Salted: Quarter wool, Is 3d each; half, Is 6d to 2s; lambs, Is. Hides.—Abattoirs: Extra heavy ox, s|cl per lb; heavy, sid; medium, s|d; light, 4|d; extra heavy cow, 4d; light, 4fd; yearlings, 6id; best calf, 6£d; good, 53d; inferior and damaged, 43d. Country butchers: Extra heavy ox, s£d per lb; heavy, 4|d; medium, 4|d; light, 4RI; extra heavy cow, 4id; light, 4id; yearlings, 4d; best caff s£d- good 5Jd; inferior and damaged, 2jd.' Tallow—Best mixed. 16s per cwt; medium, 15s 6d; poor, 10s to 12s.

FARMING NEWS. FACTORY OUTPUTS. (By “Observer.”) Reports from a number of factories operating in the manufacture of butter and cheeso are given hereundor, and from them it will bo t-een that invariably the outputs are decreasing when compared with last month's figures. Tho rain experienced last week-end, although beneficial to a degree, did not revive pastures 'sufficiently for an improvement in production to be reflected in factory outputs. In fact, it is reported by factories that supplies are decreasing every day. Early autumn rains may have the effect of stemming the downward trend of production, but it cannot be expected that the productive ability will improve as the dry spell has been, early and prolonged. Tho Levin Dairy Company’s report shows a substantial drop in manufacture compared with last month. In one month its daily output has dropped by 100 boxes. On Docembor 21, 1932, 330 boxes of butter wore being manufactured daily at Levin, compared with 230 boxes on January 21, 1933.

The Shannon Daily Company also reports a decrease in output, but, probably due to heavy supplies drawn from Opiki swamp land, the decrease is not as pronounced as that of the Levin Dairy Company. According to tho reports tho quality of raw material coming forward is very satisfactory, as most of the factories are grading well. As a result of the raising of exchange rate, dairy farmers are looking forward to an improvement in butterfat prices, and a more optimistic atmosphere prevails among the farming community at present. Levin Dairy Coy. (butter).—The company is at present manufacturing 230 boxes of butter daily, compared with 330 boxes on the 21st of last month. The supply continues to decrease. Grading 94£. Shannon Dairy Coy. (butter).—l9o boxes of butter are being manufactured daily at present against 233 boxes on the 21st of last month —a drop of 43 boxes. The supply is diminishing and grading is 94£. Tokomaru Dairy Coy. (ohoese).—'This company’s present daily output is 36 export cheeses compared with 42 on 21st December —a decrease of 6. Tho supply is dropping back rapidly. Grading is good. Tiakitahuna Dairy Coy. (cheeso). —On. the 24th of last month this company was -handling 20 export cheese daily, but due to the dry weather tho daily output has dropped to 16 export cheeses, which marks a fall of 4. Grading reports are good. Reliance Dairy Coy. (cheese).—2s export cheeses were manufactured by the Reliance Company on the 24th of last month, but since that date the supply has steadily droppod until the present daily output is 20 export cheeses, a drop of 5. Grading reports are favourable. Rangiotu Dairy Coy. (Pike’s Road) (cheese). —Due to the dry spell the daily output has fallen off and at present 14 export cheeso are being made, against 18 on the 24th of December. Grading reports are good. Mangawhata Dairy Coy. (cheese). —39 export cheeses are being manufactured daily. On the 25th of last month the daily output was 49 export cheeses, a drop of 10 has been recorded since that date. The supply is still falling off. Bainesse Dairy Coy. (cheese). —This company is making 32 export cheeses daily at present. The supply is diminishing but grading is good. The Makowhai Dairy Coy. reports that its daily output is 19 export cheeses, compared with 26 on December 25th. The supply is going down rapidly, but the quality of raw material is stated to be good. The Newbury Dairy Coy. is at present handling 26 export cheeses daily as against 30 on December 25th. Reports from the grading stores show that the quality of the cheese is good.

RURAL RAKINGS. A large percentage of the nectarines gathered in tire Auckland district-show signs of brown rot, which has been spread by tho humid conditions. ' The first Invercargill wool sale will be held On February 2. Wool is reported to be coming in more freely this week and there is a possibility that the catalogue will comprise something over 20,000 ba.es. The rain which fell will be of considerable benefit to the pastures in Canterbury. Rape and turnip crops which, in many cases, were showing the effects of tho previous hot weather will be improved. Freezing works continue to work at top speed in Southland, and farmers are still experiencing great difficulty in obtaining space. At the present time it is noticeable in all parts of tho province that lambs have been marked and are being held up in the meantime until the congestion at the freezing works has eased. Tho holding up of these lambs has delayed shearing operations, as it is not advisable to shear the ewes until the lambs are killed. Harvesting operations in the Amuri County, Canterbury, are now in full swing, and from returns already available cereal crops are yielding well above the average The mild winter allowed of field operations proceeding unhindered, and with good weather conditions germination was excellent. The result has been a prolific yield and tho returns an acre in grain have compensated in some degree for lower values offering. Threshing of wheat has only commenced, but indications are that the average an acre will range round tho forty bushel mark. Oats have turned out well and there has been more grass-seed harvested than during any season in the last five years.

FROZEN MEAT MARKET. LITTLE CHANGE SHOWN. According to advice received by Messrs M. A. Eliott, Ltd., Pa-lmerston North, from Messrs Gordon Woodroffe and Co., Ltd., London, relative to the condition of the Smithfield market for the week ending January 26, lamb under 421 b shows no change; overweights are id lower. Wethers show no change and light ewes are £d lower. The new season’s Down lambs range from 7d to 7£d ex store, with small supplies in store but large supplies coming forward. The following are the prices on the “delivered” basis, that is, including storage charges, cartage, etc : —Best North Island prime lambs, under 36, 7£d; 36/42, 7d: 42/50, 6 3-4 d; ordinary North Island lambs, under 42, 7d; second quality, under 42, 6|d; best North Island wethers and/or maidon owes, 48/56, 56/64, 4 7-8 d; 64/72 and over 72, sd; ordinary North Island wethers and/or maiden ewes, 48/56, 56/64, 4 7-8 d; 64/72, over 72, sd. North Island ewes, under 64, 3|d, 64/72, over 72, 23-4 d. New Zealand prime ox beef (equal fores and hinds), 160/220, not quoted.

FRUIT AND VEGETABLES. WELLINGTON MARKET PRICES. WELLINGTON, Jan. 27. There was a better domand at yesterday morning’s sales for tomatoes and all stonefruits, and prices are now more normal. There are large stocks of Gravensteins, cooking apples and William pears on hand, and the demand-is dull. Potatoes are selling well at better prices, and new laid eggs are firm with a tendency for the price to go up. Current prices are as follow : Apples: Astrakhans, Is 9d to 2s 3d; Gravensteins, 2s to 2s 9d; cookers, Is 6d to 2s 3d; William pears, Is 9d to 2s 3d. Peaches: American Champion, 3s 9d to 4s 6d; Wiggins, 4s to ss; Carmen, 3s 9d to 4s 6d. Plums: Ogons, 2s 9d to 3s 6d; Burbanks, 2s 6d to 3s 6d; Blue Diamonds, 3s 6d to 4s; Sultans, 3s 6d to 4s; Nectarines, 3s 9d to ss; greengages, 3s lOd to ss. Nelson tomatoes, green, 3s 6d; coloured, 4s to 4s 6d; ripe, 5s to 5s 6d. Otago apricots, 4s t.o ss; all these per half case. Raspberries, 3s 6d to 4s per tin. Local potatoes, 3s 6d to 4s 6d per bag; Pukekobe onions, 4s to 4s 6d per bag; new laid eggs, Is 3d; seconds, Is Id to Is 2d per dozen; separator butter, 7d per lb - New Zealand walnuts, s£d to 6d per lb.

GOLD AND SILVER. LONDON, Jan. 25. Gold.—-£6 Is l£d per fine ounce. Silver.—Cash. 17 l-16d per ounce; forward 17£d.

SEED PRODUCTION. DOMINION’S "POSSIBILITIES. GOOD RETURNS LIKELY. The possibility of producing in New Zealand tho Dominion’s own requirements of turnip, swede, rape and lcalo seed forms the subject of an interesting article in the Journal of Agriculture by Mr J. W. Hadfield, agronomist at the Plant Research Station, Palmerston North. He deals with the importance of the turnip and rape seed trade to New Zealand, the advantage of growing our own requirements, and certain limiting factors in the production of these seeds. “It will bo seen that between 1927 and 1930 the average annual imports of turnip and Bwede soed have been about 245 tons, valued at approximately £34,685,” ho states. “This is equivalent to a fraction over Is 3d per pound. The season 1931-32 was in many respects unusual, and tho figures reflect the first serious effects of tho depression. In this season there has been a substantial decrease in imports, and an equally Cronounced drop in value from Is 3d to elow Is pier pound. The imports during the first six months of 1932 are not included. They represent only -a fraction of the total, since most of the seed arrives in the spring; nevertheless, those shipments that had arrived showed a further substantial drop in values. “Between 1927 and 1930 the average annual importations of rape and kale seed have been 212.5 tons, valued at £10,796, or s£d per pound. In 1931 there has not been any decline in imports, but a decline in values to 4£d per pound has taken ,place. Imports for 1932 are not shown in the tablo, but for the first six months, during which only a small proportion of New Zealand’s requirements were imported, the values from the United Kingdom wore maintained at 7.2 d, while those from tire Netherlands fell as low as 2.4 d. These prices cover only about 25 tons, and cannot therefore be considered representative of tho now season’s values.

"The total seed produced within New Zealand amounts to very little. The Government Statistician gives the quantity harvested in 1930-31 as 40001 b. of rape and 39001 b. of kale. This represents about the average for New Zealand during the few preceding years. During tho same period little or no turnip seed was harvested, but in 1930-31 eeod-growing was commenced on a fairly large scale by one grower. “Reviewing the position, ono may regard the seed of rape, kale, turnips and swedes used in New Zealand to bo worth from £45,000 to £50,000 per annum. This compares favourably with the value of some of the less importart farm seeds grown in the Dominion, for which the average of the four season’s 1927-28 to 1930-31 was . as follows: —Cooksfoot, £68,345; rod clover, £42,823; linseed, £39,541; white clover, £21,057; beans, £1578.”

The advantages of New Zealand growing her own requirements are summarised by Mr Hadfield in the facts that locally produced seed germinates with greater vigour, and the seedlings are more robust There is a real danger of shortage in timo of war or industrial strife. Producing even part ot her renuirements, New Zealand would have a nucleus round which to export. “Summarising costs of production,” states Mr Hadfield, “we may conclude that turnip seed growing offers satisfactory remuneration on arable farms in the seed-growing districts of New Zealand, and compares more than favourably with the return obtained from other field crops. The production of rape seed offers still better prospects. The lower price is offset to some extent by a higher yield, but more important still is the fact that the crop may be used for a dual purpose. Provided the rape crop is not grazed too severely, the stalks may bo allowed to overwinter in the ground and a seed crop produced in the following spring. There seems no reason why we should send abroad each year for £IO,OOO worth of rape seed which could be produced quite well within the Dominion. Under trial, locally produced seed has been proved just as puro and productive as the best imported lines. “Approximately 1000 acres of turnips and 700 acres of rape should, in a favourablo season, produce New Zealand’s requirements. This would represent from eighty to ninety farmers each devoting about 20 acres, to the production of;,the seed. Seed yields _ are very easily upset by weather conditions, and wc may expect production to fluctuate accordingly from season to season. On the other hand, local seed would bo freshly harvested, and this would tend to minimise the danger of deterioration in any carry-over. An export trado offors the most promising remedy for overproduction. If seed can bo produced and sold economically in New Zealand an expansion would bring with it reduced costs, and we have the Australian market almost at our door. Extreme- fluctuations in yield are common, and unless seed production is carefully organised there will always be the danger of both overproduction and underproduction.”

WOOL MARKETING. VIEWS OF AUSTRALIAN GROWERS’ COUNCIL. Supporting tho decision of the special convention of the Graziers’ Federal Council of Australia, a special meeting of tho Australian Woolgrowers’ Council, held in Melbourne, expressed its opposition to the recommendation of the Commonwealth Wool Inquiry Committee that the Fedoral Government should prohibit the export of wool below a minimum reserve price. The council believes that meeting the market is the best means of restoring confidence and assuring an ultimate appreciation of values. The meeting of the council was definitely of the opinion that there was no need for the formation of a Commonwealth executive as proposed by the Commonwealth inquiry committee, and it was resolved that the Federal Government be informed that the Australian Woolgrowers’ Council was tho most representative body of woolgrowers in Australia, and was always available for consultation on any matters affecting tho wool industry. The chairman of tho council (Sir Graham Waddell) presided at the meeting, which was attended by representatives from all States. Approval was given to. the recommendations of tho Commonwealth committee relating to the urgent and vital necessity for a reduction of costs oL production in the wool industry, but it was decided to urge the abolition of Federal and State land taxes. Tho necessity for a reduction of in l terest charges as recommended by tho committee was emphasised, and it was resolved that the strongest representations bo made to tho Federal Government to remove the super tax on incomes, as this was considered to bo one of the main causes of the high interest rates charged by financial institutions for private mortgages. Approval was given to the proposal of tho Prime Minister’s conference that the draft allowance be further considered with the national oouncil of wool selling brokers at the next joint conference with a view to abolishing it. Other decisions of tho meeting were: —

To approve of tho recommendation of the committee that tho fixing of tho rate of exchange be left in the hands of the Commonwealth Bank Bohrd. To urgo tho Federal and State Governments to relieve shipping companies of a substantial percentage of the charges and taxation of those companies to assist the companies in making an adequate reduction in oversea freights. To recommend the affiliated associations to bring before their members the desirability of better classing of clips. To institute further inquiries overseas in regard to the disparity in tho price of raw wool and the cost of manufactured articles. To make representations to the national council of the wool-selling brokers of the desirability of giving prominence in the headlines of wool sale reports to the average price realised. To urge upon the Federal Government the vital importance of a revision of the Customs tariff, and that full effect be given with tho least possible delay to the spirit of the Ottawa Agreement by reducing duties on British Empire goods.

HOROWHENUA SHOW. In the list of awards for Largo White pigs at the Horowhenua Show the names of two exhibitors were transposed. Mr Egbert Pratt’s Lcckw'ood Boy II was awarded first place in tho class under 12 months, and allotted tho reserve championship by the judge, Mrs R. W. Evans’s exhibit being second.

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. There was a firmer tendency in the Wellington stock and share market yesterday, buyers showing rather more interest, with setters disinclined to make concessions.Government securities were fairly active. The 5£ per cent, stocks, February, 1937, firmed to sales at £lOl 5s and £lOl 10s, with more offering at tho latter figure. The 5i per cent, stock, October, 1934, were reported done at £99 10s, late sellers asking £IOO ss. Buyers of the 4£ per cent, bonds, 1941 and 1939, advanced their bids 5s without attracting -sellers. In the debenture section the domand was limited to Wellington Harbour Board 5£ per cents., and Wellington Gas 6£ per cents., which were quoted at par without response. Bank shares were steady, with little quotable change. New Zealands firmed 3d to 43s 3d, sellers moving up to 43s 9d. Sellers of Union of Australia eased to £7 17s following payment of tho dividend. In the financial section Goldsbrough, Morts. eased 3d to 23s 9d. N.Z. Guarantee Corporations were steady at 4s 6d, sellers asking ss. Christchurch Gas wore sought at 235, sellers holding for 245. South British Insurance firmed sharply, buyers advancing Is 3d to 57s without drawing sellers. New Zealand Insurance were 6d better at 44s 6d, seller,, staying out. Nationals had a sale at 14s 2d late on Wednesday, and were wanted yesterday at 13s lid. N.Z. Breweries advanced 7d to 27s 7d, sellers standing at 28s. Staples firmed 6d to 22s 6d. Tooth s Brewery were 3d off at 345, but sellers hardened to 355. In the miscellaneous section British -Tobaccos were a shade firmer at 31s lOd, sellers still at 32s 3d. Burns, Philp were wanted at 46s 3d, sellers asking 475. Electrolytic Zinc, preference, were 3d up at 27s 6d, sellers 28s 6d. N.Z. Drugs advanced 3d to 565, sellers 56s 6d. Moturoa Oils wero \yantcd at 4s 7d, but sellers hold for 4s lid. Gold mining shares were in fairly active demand with little ohange in prices. YESTERDAY’S QUOTATIONS.

YESTERDAY’S SALES. The following sales were recorded on the stock exchanges of the Dominion yesterSales reported • Inscribed Stock, 5£ p.c., Feb., 1937, £lOl ss, £lOl 10s, ditto, 5£ p.c., Oct., 1934, £99 10s; National Insurance, 14s 2d*. *Late sale \\ ednesday. Auckland. —Bank of New Zealand £2 3s 4d, £2 3s 6d; N.Z. Insurance, £2 5s 3d; South British Insurance, £2l7s_6d, N.Z. Loan and Mercantile, £37 10s; N.Z. Drug Co. £2 16s; Gillespie’s Beach, 6d paid, is, Golclen Dawn, 4s 6d; Waihi Grand Junction, 3s 6d. -r, i, Christchurch.—Sales on ’Change: Bank of New Zealand, £2 3s 6d;; Mount Lyel, £1 Is 2d; N.Z. Drug Co. (6), £2l 16s ld ; (2) £2 16s; Gillespie’s Beach, l«s; iSokomai (3) 5s 9d. Sales reported: Inker. Stock 4-i n.c., 1938, £95 15s; Commercial Bank of Australia, cum. div., 15s 4d; WestportStoekton Coal, ord. (2), 8d; Cailton Brewery, £1 14s 6d; Mount Lyell, £1 Is Id, National Bank of N.Z., £3 7s 6d. , Dunedin. —Sales on ’Change : Paddy s Point (2), 5s 7d; Big River, Is 3£d, Is 4d. Sales roported: inscr. Stock, 5, p.c., lob., 1937, £lOl ss; Kawarau, 6d; Golden Dawn, 4s s£d.

EXCHANGE RATES,

Wo have received the following from the Bank of New Zealand giving the rates London on New Zealand, on the basis ot £IOO London, which took effect on Janu-

Tho selling rate for telegraphic transfers, London on Capetown, is £99 17s 6d for £IOO sterling, and tho buying rate £IOO 17s 6d.

Buying and selling quotations at yesterday’s final call on the Wellington btock Exchange were as follow Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ 6. d. 44 p.c. Bonds, 1941 ... 95 10 0 — 4| p.c. ditto, 1939 95 10 0 — 41 p.c. ditto, 1958 95 7 6 — 5* p.c. ditto, 193d 101 5 0 — 0 5? p.c. ditto, Bob, 195Y — 0 101 10 5i p.c. ditto, 1937 96 10 — 4£ p.c. Stock, 1939 ... 95 5 0 — 0 4 1 p.c. ditto, 1938 95 7 6 96 0 fii p.c. ditto, 1936 101 5 0 — 0 54 p.c. ditto, Eeb, 1937 — 101 10 SV p.c. ditto, Sop, 1937 — 101 10 0 54 p.c. ditto, Oct, 1934 — 0 100 5 0 5a p.c. ditto, 1967 96 10 DEBENTURES— Well. Harb. Bd„ 54 p.c., 1940 100 0 0 — Auck. City and Sub. 97 0 Drain., 5 p.c., 1936 — 0 0 Well. Gas Co 100 0 — BANKS— 0 10 1 Conun. of A list., ord. ♦0 15 0 0 15 4 E.S. and A 4 9 0 — 0 Nat. of Australasia, £5 5 7 6 5 15 New South Wales — 60 U 0 New Zealand 2 3 3 Z 3 9 Ditto, long term 1 9 0 1 9 3 0 f7 17 FINANCIAL — 0 Equitable Building ... — 2 0 Goldsbrough, Mort. ... 1 6 9 — 0 N.Z. Guar. Corp., ord. GAS— 0 4 6 0 0 5 0 Christchurch 1 3 1 4 AVellington, ord 1 9 6 Ditto, pref 0 17 6 INSURANCE— National 0 16 11 New Zealand ♦2 4 6 * South British 2 17 0 MEAT PRESERVING— 1 7 6 1 10 0 N.Z. Refrijgerat., Kte 0 3 10 0 4 3 TRANSPORT1 0 0 Union Steam, pref. ... — 0 Wellington, ord. ...... TIMBER— 5 3 0 10 0 breweries— 1 8 0 N.Z. Breweries 1 7 7 Staples and Co 1 2 6 — 0 Tooth and Co 1 14 0 1 15 MISCELLANEOUS— 1 12 British Tobacco, ord. 1 11 10 3 Burns, Philp 2 6 3 2 7 0 Electro. Zinc, prof. . 1 7 6 1 8 6 Howard Smith, ord. — 0 13 0 National Electric 16 0 0 10 0 N.Z. Drug 2 2 16 6 Wool worth’s, pref. ... 1 8 6 — OIL0 4 7 0 4 11 0 2 5 — MINING— 0 0 4 Golden Dawn 4 3 King Solomon to 1 1U 0 0 3g 0 Mount Lyoll 1 1 1 1 Okarito 0 9 0 Paddv’s Point 0 5 0 1 i 0 1 1 6 Big River 0 — 0 1 6 Gillespie’s Beach U 10 Nokomai 0 Kawarau u ♦Cum. dividend. +Ex. u o — dividend.

ary 20: — Buying - T.T.’s Selling.£124 10s Ocl £126 On Demand . £124 15s Od £126 12s 6d 30 days — £127 5s Od 60 days £127 17s 6d 90 days £128 10s Od 120 days RATES OF EXCHANGE. LONDON, Jan. 25. The following rates on foreign exchanges were current to-day, compared with par : — Jan. 2b. New York, dol. to £1 ... — 4.866 Montreal, dol. to £l 24.455 4.866 55.00 Paris, francs to £l 86 124.21 Geneva, francs to £1 17.45 25.22^ Amsterdam, florins to £1 8.45 12.107 Milan, lire to £1 66 7-16 92.+5 Berlin, marks to £1 — 20. t5 Stockholm, knr. to £1 ... — 18.159 Copenhagen, knr. to £1 . 19 15-16 18.159 19.5 18.159 Vienna, schgs. to £1 ... *29 34.585 Prague, knr. to £1 113.625 164.25 Iiel’fors, inarkR to £1 ... 226.5 195.25 Madrid, pes. to £1 41.375 25.225 Lisbon, esc. to £l 110 110 Athens, drach. to £1 600 5Y5 Belgrade, din. to £1 250 276.31 Bucharest, lei to £1 570 813.60 Rio de J., p. to mil. ... *51 5.899 B. Aires, p. to peso ' , 47.62 M. Video, p. to peso *34 51 Calcutta, p. to rup 18 5-32 18 Shanghai, p. to tael 20i — I-I.-Kong, p. to dol 151 — Y’hama, p. to yen 15 1-16 24.582 Batavia, gl. to £1 — 12.107