COMMERCIAL.

New Zealand Herald, Volume LIX, Issue 18089, 13 May 1922, Page 7

COMMERCIAL.

THE LONDON MARKETS. MONEY AND PRODUCE RATES. Australian and N.Z. Cable Association. (Reed. 5.5 p.m.) LONDON. May 11. The Bank of England returns for the week ended May 11. as compared with those for the week ended May 4, arc as follows:— May 11. May 4. Com . . . . £127.055.000 £127.053.000 KeHerve . . . . 26.746,000 25.233.000 Note issue. . . . 121.592.000 122.091,000 Govt, deposits .. 13.179.000 14.356,000 Other deposits .. 130.259.000 131.C94.000 Govt, securities. . 58.873.000 63.543,000 Other securities. . 75.530.000 74.9G9.000 Proportion of reserve to liabilitiei , . 18.00 17.20 RATES OF DISCOUNT. Short loans, 21 per cent., compared with 2t per cent, last week; three-months billa. 2i per cent., compared with 2| last week. FOREIGN EXCHANGES. Tho following rates on foreiarn exchanges are current to-day. a« compared with the cabled quotations on May 8 and par: — May 11. May 8. Par. New York . . 4dol 44}0 4.44 4.866 Montreal . . idol 51c 4.51 4.8C6 Paris . . . . 48fr 70c 4885 25.255 Berlin - • . • l'-'7Sm 1320 20.43 Stockholm . . 17kr 35ore 17.27 18.159 Chnstiania .. 23kr 80or« 23.65 18.109 Copenhagen . . 20Ur 87ore 20.87 18.109 Calcutta . . la 31d la 3id 2s Hongkong .. 2a 6td 2a Bid - Yokohama .. 2s lid • 2sl[d 2s OJd CONSOLS AND COLONIAL STOCKS. The following table gives quotation* for consols and colonial inscribed stocks, comparer] with those of May 4: — Price- Variation. £ s. d. s. d. Con ß ols. 2i per cent, . . 58 10 0 7 6' British 31 p.c. war loan 94 0 0 5 0 British 5 p.c. war loan. . 99 5 0 & 01 New Zealand i p.c., 1929 94 17 6 — Com'wealth 51 p.c, 1920-22 101 7 6 Same Com'wealth 51 p.c, 1922-27 100 10 0 5 Ot W Aust. 3i p.c. 1920-35 S3 0 0 — W. Aust. 3 p.c. 1915-35 78 5 0 — N.S.W .51 p.c. 1922-32. . 101 10 0 Same. N.S.W.. 4 p.c, 1933 . . 90 17 6 2 6+ N.8.W.. 31 pc, 1930-50. . 78 17 6 2 6* N.S.W., 3 p.c, 1935 . . 76 2 6 SO* S. Aust.. 3i P. 0., 1939 . . 82 7 6 — S Aust., & p.c, optional 61 10 0 — Tasmanian. 3 p.c, 1920-40 81 5 0 25 Or Tasmanian, 3 p.c. 19?0-40 74 0 0 20 0+ Queens'and. 4 p.c, 1924 . . 95 10 0 — Oueenrland 31 p.c. 1921-24 94 12 6 — Queensland 3 P.c, 1922-47 67 Q 6 2 61 Victorian 34 p.c, 1921-26 95 15 O — Victorian. 31 p.c. 1920-49 77 7 6 — Victorian 3 p.c, 1929-40 71 15 0 B Ot ♦ Higher. "Lower. — Not cabled last weekWHEAT. FLOUR. PULSE. AND SUGAR. Wheat —Cargoes are 6tcady in view of Continental demand, but Plate holder* are inclined to Bell at slightly lower rates. Benvorlich .57s 3d. Very little is doing in spot. Australian duo is auotod at 60b 6d. Flour,—Quiet. Auetralian, ex etore. 43s 6d to 445. Barley.—lnactive. Oats.—Finn. Peas and Beans.—Steady and unchanged. Sugar.—Granulated. 48s 9d. METALS. Lead.—lmport* 14.180. Australian 5460: exports 2433. FRUIT. The Wangaratta'e New Zealand apples wore mostly in f6ir condition, but some bad turned brown inside. The other* mostly fetched 12s 6d to 13s: Cox's 12s 6d to 16sThe Ulysses' South Australian shipment eold : Cleonatrae, 18s: Jonathans. 15r 6d to lGs 6d; I'lt-in's. 16s. BUTTER AND CHEESE. Butter is flat, owing to the slump in Danish, which is offering at 165s f.0.b.. equal to about 172« landed: Now Zealand choicest, 168s to 170s: Australian. 160s to 1625: exceptionally good. 164». Chee«» is dull, and the demand ia slow. New Zealand. white 72=1 to 745. coloured 82s to 84s; Australian, white about 66fi. AUSTRALIAN PRODUCE. A. and N.Z. SYDNEY. May 12. OaU», Algerian local feed 3s lid. Tasmanian 3s lOd. white 4s id to 4s 2d; maize, yellow 5s 3d. white ss; potatoes. Tasmanian i'B; onions. Victorian £7 10s: Adelaide oats. 3a to 3s Id. MELBOURNE.' May 12. i Barley. English 3s lid to 4s, Cape 2s lOd I to 2s lid: oats. 3s 4d to 3s Id; potatoes, £4 to £4 15s; onions, £6. CANTERBURY MARKETS. [BY TELEGRAPH. —rRESS iseooriTinv 'j CHRISTCHURCH, Friday. Oate are atili showing a weakening tendency. Farmers are ouering practically nothing, and any business doing is restricted to merchants. Quotations are from 2s 6d to 2s 7d for A grade Gartens at country stations, and 2s 2d to 2s <ld for B grade. Algerians have been moving to some extent at 2s to 2s 4d. Cocksfoot is firm. Sales of dressed have been made at B}d per lb, equal to about 51d for farmers. Undressed cowgraas ia in firm inquiry at 10d to 12d. Some salee of particularly good farmers' undressed nave taken place at over the latter figure. Dressed cowgrase has been traded at 135s per cwt (la 21d per lb). Pea* are firm and i have realised up to 8s at country stations. j White clover is quoted at from Is 3d to Is • sd. Potatoes have and sales have ■ actually taken place at 77s 6d f.o.b. South | Island, a ehade less than £3 to farmers. Few offers are being made at .this price by growers. At the moment quotat ; ona are from £2 17s 6d to £3 at country stations.. Fowl feed is now quoted at 4s 6d to 4«s 9d 'f.o.b. ; South Island.