COMMERCIAL.

New Zealand Herald, Volume LVII, Issue 17483, 29 May 1920, Page 5

COMMERCIAL.

LONDON, MARKETS. MONEY AND PRODUCE RATES. Australian and N.Z Cable- Association. (Reod. 8.10 cm.) LONDON. May- 27. The Bank of England returns for the 'week ended May 27, as compared with those {or the week ended May 20, ire as follows:—

RATES OP DISCOUNT. . Short loans 51 per cent, same aa last week; three month bills 61 per cent., as against 61 per cent, last week. FOREIGN EXCHANGES. The extraordinary fluctuations now taking place in -European exchangee are attributed to anticipations arising from the coming financial conferences. The following rates on foreign exchanges are current today, as compared with the cabled quotations on May 20 and the rates ruling on July 3, 1914: — 19H. May 20. July 3. Paris . . .. 51fr250 .13fr 700 24.14} Stockholm .. 18kr20ore 18kr29ore 18.24* Christian!* .. 21kr55ore 21kr08ore 18.24* Berlin .. 146 marks — 20 Calcutta •.. 2s lid 2s 2id Is 4d Montreal . . 4dol 350 4dol 25c 4,8.J New York .. 3dol 89jo Bdol 3110 4^B7* The following table gives Quotations for consols and colonial inscribed stocks, compared with thceo of May 20:—

WOOL, WHEAT, AND PULSE. The Bradford wool market is quiet, buyers awaiting the opening of the. London Bales. Wheat is fairly active., Several Australian Parcels sold at official rates. Flour is in good demand. Only a small quantity has been released. Oats are firm. La Plata, on spot, 60s 6<L - Beans are quiet. Peas are firm. Tasmanian Blue, 25a to 27s per cwt; New Zealand duns, 125s a quarter. (Sugar is unchanged. '

MELBOURNE HIDE MARKET. Australian and N.Z. Cable Association.

(Reed. 5.5 p.m.) MELBOURNE. May 28. The hides market is very weak, and a declino up to 3d per lb all round is reported.

MELBOURNE PRODUCE # MARKET. A. and NJ?. MELBOURNE, May 23. Barley: English. 7s 8d to 8s; Cape, 6s 9d to 7s. Oats: Algerian. 6s 3d to 6s 4d. Potatoes. £13 10s. Onions, £13 10s to £14.

CANTERBURY PRODUCE MARKETS [by telegraph.— association.] CHRISTCHUBCH, Friday. The grain market baa been quiet. Very little wheat has come to hand and offerings of oats are light, but this market has a better tone although there is hardly any quotable change. Most of the pea crop has now changed hands. The chaff trad© is still dull on account of the shortage of storage and railway trucks. Tho potato market remains stagnant, and as local retirements are full it is not expected there will be any appreciable change until storage facilities improve and the embargo to Australia is removed. The ruling rates are from £3 15s to £1 Very little trade has been done with linseed, and owing to the uncertainty of the, Australian position no one is inclined to buy. The nominal price is £31 to £32 a ton. Onions continue to be purchasable- at country stations at £6 a ton, but little business has been effyted. The barley crop is now pretty well cleaned up on the market and Quotations remain stationary at 8s to 9s, according to quality.

CITY BLOCK SOLD. PURCHASE PRICE ' £45-,000. An important sals of Queen Street property has just tfeer. completed through the agency of Mr. George Walker, auctioneer, and Messrs. Thos. Mclndoe and Son, land agents. The property is portion of the estate of the late Mr. Patrick Darby, and comprises the block known aa Darby's Buildings, situated a few doors. above Customs Street, and having frontages to Queen Street and Fort Street Lane of 53ft 6fa by a depth of 198 ft 4in. The Queen Street frontage is occupied by a chemist's and confectioner's shop, and a billiard saloon, the upstairs portion being devoted to business offices. , ,«.,,, The purchase price paid for the block was £45,000. This' works out at nearly £1500 per foot. but. as the modern building is worth £20,000 this cannot be regarded as a very high price compared with recent sales. MARKET REPORTS. E. Turner and Sons. Ltd., report that very large quanities of fruit still continue to come on to the market, particularly apples and J*" 8, Pvices are still low for poorer varieties, but lines such as Delicious are selling fairly well. There is every prospect of the market remaining ovon for some considerable time, as there are very lacse quantities of apples in tool storage, beside considerable quantities coming forward from growers. Lemons are somewhat easier in values owing to the increased supplies. Tree tomatoes are still selling at keen values, as, are also grapes, persimmons, guavas, and good tomatoes. Island oranges sold at today's market at from 12s to 13s *d repacked. A fresh, shipment is due next Monday. A few bananas are also due by the lalune on Monday. A ahipmont of Sydney fruit came across by tha Maheno last Wednesday, and was sold by Metier, mandarines averaging just oTnsr £1 ptt case, and pines 25s to 28s. Another shipment of Sydney fruit is duo next week. Produce: Potatoes, firsts 8s to Os 3d. seconds 5s 9d to 7.'i: onions, 5s 9d to 7s cwt; pumpkins, 2s 9d to 33 9d cwt: swedes. 5s to 6s 3d cwt: kumeraa lid to 2}d lb; citrons, is 6ci to 5s 2d cwt;. peas, 4»d lb; beans, choice, up to 9d lb; parsnips, M to lid doz; rhubarb 3s 4d to 6b 3d doz: lettuce, 7d to 2s doz.; cabbages, Is 7d to 8s 7d doz.; celery, 8a 2d to 4s 5d bundle: carrots, 7d to lid doz.; cauliflower, 4i 4d dozen. Dairy prod**: Eggs. 3s 7d to £* od; butter. Is 3|d to ls.6jd lb; honey, 6W lb Poultry: Hens, heavy 4s to 5b 6d, light 3 g to 3s 9d: cockerels 5s to 7s, ljeht 2s 6d to 4s 3d; gobblers, 14s to 153; turkey hens, 8s to 10s; pullets, small 5s to 6s 6d, heavy 7s to lis 9d; drakes, is 6d to 6s; ducus. 6s to 8s 6d.

May 27. May 20. Coin .. .. >.. £111.994.000 £111.994,000 Reserve . . . 19,441,000 20,041,000 Note issue •'. .. 111.464,000 ■ 110.881.000 Govt, deposits .. 16,604,000 ,20,061,000 Other deposit* .. 101,180.000 .101,389.000 Govt* securities .. 34,356,000 36,515,000 Other securities .. 81,716,000 82,632,000 Proportion of re- „ „ serve to liabilities 16.50 16.50

Price. Variation. £ 8. d. s. d. Consols, 2} per cent. ., 48 0 0 12 6t British 5} p.c. war loan 83 0 0 7 Gt British 5 p.c. war loan.. 86 5 0 15 Ot New Zealand 4 p.c. 1929 81 5 0 15 Ot New Zealand Si p.c. 1940 66 2 6 2 6 New Zealand 3 p.c. 1945 67 2 6 26 Com'w'lth 5} p.c 1920-22 96 0 0 5 0* Com'w'lth 61 p.c. 1922-47 93 15 0 10 Ot W. Aus. 3 P.O.. 1920-23 71 0 0 15 Ot ■W. Aus. 3 p.c, 1915-35 67 15 0 5 0* N.S.W. 4 d.c, 1938 .. 76 5 0 5 0t N.S.W. 61 p.c. 1330-50. . 69 15 0 Same. N.S.W. 3 p.c. 1935 .. 69 10 0 Same 8. Aus. 31 p.c. 1930 .. 66 10 0 10 0* S. Aus. 3 p.c, optional 49 15 0 5 0* Taamanian 3} p.c, 1920-50 64 10 ,0 Same. Tasmanian 3 p.c. 1920-40 62 0 0 20 0+ Queensland 4 p.c. 1924.. 87 15 0 Same. Queensland 81 p.c. 1921-50 94 0 0 Same. Queensland 8 p.c. 1920-47 55 0 0 8 6* Victorian 4 p.c. 1924 . . 99 5. 0 5 0* Viotorian 31 p.c. 1921-26 82 0 0 Same. Victorian 31 p.c, 1920-49 59 10 0 10 Ot Victorian 3 p.c. 1929-40 55 16 0 6 Ot ♦Higher. 'Lower.