COMMERCIAL.

New Zealand Herald, Volume LX, Issue 18292, 8 January 1923, Page 3

COMMERCIAL.

LONDON MARKETS. » —— BANK OF ENGLAND RETURNS. A. and N.Z. LONDON. Jan. 5. The Bank of England returns for the week ended January 5, as Compared with those for the week ended December 28, are as follows:— Jan. 5. Dec. 28. Coin .. .. £125.656.000 '£ 125.''23.000 Reserve .. .. i 1,889,000 -21,015,000 Note issue . . 324,053.000 124.878,000 Govt, deposits . . 12,917,000 13,324,000 Other deposits . . 44,862.000 119,903,000 Govt, securities 59,658,000 51.3'£.000 Other • Ptcurities.. 94,204,000 78,153,000 Proportion of re- ' serve to liabilities .13.87 17.02 RATES OF DISCOUNT. Short loans, 15 per cent, the same as last week; three months' bills, 1\ per cent., against 29-16 th per cent, last week. FOREIGN EXCHANGES. The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on December 28 and par :— Jan. 5. Dec. 28. Par. New York ... -Idol 04jc 4.64? 4.866 Montreal 4dol CSJc 4.683 4.866 Paris ... ... (isfr 15c- G4.15 2;J.225 Rome 90JIire 913 25.225 Berlin 37,500 34,500 20.43 Stockholm ... 17kr 27orc 17.26 18.159 Christiania ... 24kr 56ore 24.43 18.159 Copenhagen ... 22kr 70ore 22.44 18.159 Calcutta .... ... Is 4*d Is 4{d 2s Hongkong. ... 2s 3d 2s 3d — Yokohama ... Qs 1 5-lGd 2a 1 5-16 d 2 o|d CONSOLS AND COLONIAL STOCKS. The following table gives quotations for consols and colonial inscribed stocks, compared with those of December 28.— Price. Variation. Consols, 2i per cent. ... 55 17 6 5 0+ British, 2J" p.c,. war loan 95 12 "' 6 2 6+ British 5 p.c, war loan 100 10 0 . 10 0+ British 3} p.c. conversion 75 2' 6 25 Ot New Zealand 4 p.c. 1929 94 5 0 — New Zealand 3* p.c, 1940 81 0 0 — New Zealand, 3 p.c, 1945 73 5 0 Same. N. Zealand 6 p.c, 1936-51 108 0 0 — Commonwealth 6 p.c. ... 105 12 (5 — N.S.W.. 64 p.c, 1930-40... 106 10 0 47 6* Queensland, 4 p.c, 1924... 96 10 0 10 0+ Queensland 34 p.c, 1924 9515 0 5 0+ Queensland 34 p.c. 1930 85 12 6 Same. Queensland, 3 p.c, 1922-47 Go 0 0 Same. Queensland, 6 p.c. 1930-40 103 5 0 South Australia, 61 p.c. ... 106 10 0 35 0* Tasmanian 3* p.c, 1920-40 81 0 0 5 Of Tasmanian 3 p.c, 1920-40 73 0 0 :—• Tasmanian 64 p.c, 1930-30 107 0 0" — West Aust., G p.m., 1940... 103 10 0 10 Ot tHigher "Lower. —Not quoted last week. CEREALS. PULSE. SUGAR. Wheat.Cargoes steady, occasionally at a higher level, but quiet: parcels a turn easier, spot trade very dull.. Australian ex store 545, 555. Flour, Slow. Australian ox store-40s. _ Barley.—Steady. New Zealand malting 455. 48s ex store; feeding, 38s, 40s. Oats. good demand. A grade gartons 34b to 37s ex store, 34s afloat. —Flat, .slow. Blues', Tasmanian, 560s to 420s ex store. New Zealand, 280s to 3205. Maples. Tasmanian 110s to 112s, Now Zealand 100s to 105s. Beans.Firm. New Zealand 50s to 545. Sugar.—Unchanged. HEMP. COPRA, RUBBER, ETC. » Australian, and N.Z. Cable Association. (Reed. 4.5 pirn.) LONDON, Jan. G. (Last week's prices in parentheses) Cotton.—February, 14.60 d (14.73 d). Rubber.—Para, Is lid (Is ltd); plantation and smoked, la 3d to Is 3Jd (Is 2Jd). Jute.—January-February, £35 lCs (£35 10s). Hemp.—January-March, £33 10s (£33 10s). —January-February, £25 2s 6d (£24 17s 6d). Linseed Oil—£3B (£39). Turpentine.— 6s 6d (£5 fe 9d). WHEAT. Wheat cargoes are steady and the demand is quiet. Quotations are unchanged. Parcels are firmly held and the demand is quiet. FROZEN MEAT. < Sheep.—New Zealand, -ewes 7Jd; Australian, firstß 7fd, second 7Jd, ewes 7d; South American, ewes 7d. : Frozen Beef— Zealand, fores 4ld, hinds, lid; Australian, hinds 4|d; Argentine, fores 4Jd, hinds s{d; Uruguay, not offering. Chilled Beef.Argentine, fores sd, hinds 7Jd; Uruguay, fores 4}d, hinds 7d. Other meats unchanged. Messrs. M. A. , Eliott, Ltd., Palmerston North, have received cable advice from Messrs. Gilbert .Anderson and Company, Ltd., London, of -the following Smithfield prices for the week ending January 5, 1923, the prices being on the- "delivered" basis, that is, including storage charges, cartage, etc;:—Best North Island prime crossbred lambs, under 421b. 12d per lb; ordinary North Island lambs, under 421b. Hid; second quality, under 421b, lOJd; ordinary North Island wethers and moid en ewes, 481b to 561b 9id. 561b to 641b 9}d, 641b to 721b 9H; North Island ewes, under 641b 7fd, 641b to 721b 7d., over 721b 6fti; prime ox beef. 4id. Ordinary lamb is id higher; ewes, id to Id higher; beef, id higher. • \ New Zealand Loan and Mercantile Agency Company, Limited, have received the following cablegram from their London house, under date January 3.Tallow: We quote present spot values for the following descriptions: Fine mutton, 43s 6d per cwt..'; good beef, 41s 9d per cwt.; mixed, 37s per cwt. The market is firm.' 1 New Zealand Frozen 'Meat. Lamb, lljd , per lb. Mutton: Wether and maiden ewe, . light 9i!d per lb., heavy BJd per lb.; ewe, ' light 7Jd per lb., heavy 7d per lb. ' Beef: Ox, hinds 4Jd per lb., fores 4d per lb.; cow, ! hinds 33d per lb., fores 31d per lb. Tho : market is slow. I -'- AUSTRALIAN PRODUCE, t A. and N.Z. MELBOURNE, Jan. 6. > Barley.English, 4s 4d to 4s sd; Cape, 2s ■ lOd to 2s lid. ; Oats.—3s 5d to 8s 6d. '• .Potatoes.—£s 10s to £8. Onions'.—£7 to £7 10s. 1 AUCKLAND STOCK EXCHANGE. ■ : The Auckland Stock Exchange, which has » been closed since December 22 for the J Christmas and New Year vacation, wjll rea open this morning. I "'" : ~ : EEILDING STOCK SALE. . Messrs. Abraham and Williams, Ltd., report as follows on the Feuding stock sale held on January 5:—A very' small yarding of sheep and cattle came forward. There

of sneep nncl came caiuu imwaiu. -iiiuio was a good attendance for the first sale oi the year", and the sheap Bold well, but thero was a poor inquiry for grown cattle. We quote- Fat b.f. 2-tooths to 80s 3d;.b.f. store lambs to 21s; W.F. lambs, 14s to 18s; 4-year ewes, 21b to 24b; fat bullocks, £7 2s 6d; 2-year steers. £3 12a 6d to £4: springing cows, £5 10s to £5 15s; springing heifers, £5 2b 6d to £8 15s; yearling S.H. heifers to £2; stor cows. £1 to £2: bulls. £3 to £3 7s 6d. "'