COMMERCIAL

Nelson Evening Mail, Volume LXI, 6 February 1928, Page 7

COMMERCIAL

RE-DISCOUNT' RATE RAISED

(Bv Electric Telegraph—Copyright) (Australian & N.Z. Cable Association) SAN FRANCISCO, 4th February. The Federal Reserve Bank raised the re-discount rate from 3£ to 4 per'cent.

LONDON MARKETS Messrs Dalgety' and Co., Ltd., report having received the following cablegram from their London under date oi the 2nd ihst.: — Butter. —Market firm. We quote Danish 176 s 'to 178 s (168 s to 170 s); New Zealand finest salted 160 s to 164 s (152 s to 1545); Australian finest unsalted 160 sto 162 s (150 s to 1525); salted 156 s to 160 s (148 s to 150 s); Australian g. a, q. 150 s to 154 s (142 s to 1465). ' Cheese. —Market firm. We quo>e New

Zealand cheese, white and coloured, 92s to 93s (88s to 90s); spot price for Canadian white 100 s to 104 s (98s to 102 s); coloured 100 s to 102 s (96s to 100 s). Frozen meat.—Quotations unchanged except for New Zealand, North Island iamb, which is £d lower. Pork 80/100 lbs offering 7£d without finding buyers. The New Zealand Meat Producers' Board has received the following cable from its London office, dated 3rd February, advising Smithfield delivered prices at" that, date as follows: N.Z. wethers and maidens—Canterbury quality, selected' brands, (old season), 5(./under 6M, 67/64 6d, 65/72 sid, other brands (new season) 56/under 6|d, ,57/64 6cl, 65/72 6*d! ' jsj.z. lambs.—Canterbury quality, selected brands'(neW season) *36/under lOgd, 37/42 lOid; other brands, Ist quality (new season)' 3'6/nnder 9Jd. 57/42 lOd ; 2nd quality (new season), 30/32 average 9'id. N.Z. beef.—Ox fores 3;{d, hinds sd, cow fores Zi(l, hinds 4d. Frozen pork.—Porkers, 60/801bs, 7d. 100/120!bs 6|d; Eaconers, 121/1801bs 6?d. • Lambs.—Market steady, present, light arrivals are sufficient, to supply market. Mutton market.—Wethers, heavy* weights slightly weaker. There is a good demand for lightweights.

Beef market.— Owing to better prices Argentine chilled beef, there has been a (ietter demand for New Zealand beef. Frozen pork.—Bo/1201hs, market still overloaded : 120/lßolbs, demand is better owing to improvement bacon prices.