COMMERCIAL.

New Zealand Herald, Volume LX, Issue 18340, 5 March 1923, Page 5

COMMERCIAL.

LONDON MARKETS. BANK OF ENGLAND RETURNS. Australian and N.Z. Cable Association. (Reed. 5.5 p.m.) LONDON, March 2. The Bank of. England returns for the week ended March 1, as compared with those for the week ended February 22, are aa follows:— _ , March 1. Fer„22. i Coin .. .. £ 125.676,000 £125,670,000 \ Reserve . ~ 23.314.000 25.207.000 j Note issue .. 123,9*0.000 123.042,000 Govt, deposits ~ 20.007,000 22.360,000 I Other deposits .. 110,548,000 106.7&2.000 ! Govt, securities. .. 47,233,000 47,317,000 Other securities . 79,107.000 74,435,000 Proportion of reserve to liabilities 17.73 19.58 RATES OF DISCOUNT. Short loans. li : per cent., the same aa last: i week: three months' bills. 2} per cent., . against 2 7-16 per cent, last week. CEREALS, EULSE, SUGAR. Wheat cargoes are steadily held in sym- ', pathy with the American demand Sales are quiet at recent rates. Flour is- slow. Barley is • steady. Beans, peas, and oats are slow and prices unchanged. Sugar (granulated) is quoted at £S 0a 4d. FOREIGN EXCHANGES. The following rates on foreign exchanges j were current on Friday, as • compared with < the cabled quotations on February 27 and par:— Mar. 2. Feb. 27. Par. New York .. 4dol 70to 4.69* 4.866 Montreal .. 4dol 780 4.78 i: 4.566 Paris .. ... 77fr 430. 77.20 : 25.225 Rome ... ~ 97Hire 971 25.225" Berlin . .. 106,000 m 100.000 20.43 ! Stockholm .. 17kr 2c re 17.67 18.159 Christiania .. 25kr 23ore 25.60 18.159 Copenhagen .. 24kr 37ore 24.16 18.159 Calcutta .- Is 4 3-16 dls 4 3-lEd 2s, Hongkong .. 2a 3Jd 2s 3d . — Yokohama .. 2s o*d 2s 2Jd 2so|d METALS. Copper.—Spot, £73 8s 3d: three months. £74 Is 3d. , —Spot. £29 2a 6d; three months, - £28 12s 6d. , ■ •■ Spelter.—Spot, £37 2s 6d; three months, £37 ss. Tin.—Spot; £211 12a 6d: three months, £212 sa. Silver.— 7 15-16 d per ox/ TALLOW. —Stocks, 5168 casks; imports. 2354; deliveries; 3072. m , At lbs sales 1448 casks were offered and 1022 sold. The following prices were realised:—Mutton, fine 445. medium 393 6d; beef, fine 43a 3d., medium 395. I FROZEN MEAT IN LONDON. M. A. Eliott Ltd.. of Palmerston North, i have received cable advise from Gilbert ! Anderson and Co.. Ltd.. London, of the following Smithfield prices for the past week, ended March 2. These prices are on the "delivered!' basis, that is. including, storage charges, cartage, etc.—North Island prime down lambs, under 361b. 13d, 361b. to 421b. 13d. 421b. to 50lb. 12Jd; best North Island prime crossbred: lambs, under -121b. 12H: ordinary North Island lambs, under 421b. 12|d; second quality, ,under 421b. Hid; best North Island wethers and maiden ewes 48tb to 561b. 9|d. S6lb. to 641b. 9id. 641b. to 721b. BJd: ordinary North Island wethers and maiden ewes, 481b to 561b. Old. 561b to 641b. B{d. 041b. to 721b. Bid; North Island ewes, under 641b. 7id. 641b. to 721b. 7d. over 721b. 6}d,- New; Zealand' prime ox beef (equal fores, and hinds), 1601b. to 2201b. 4|d. . Remarks.Lamb, id to id lower: best North Island wethers, no change; ordinary North Island wethers and ewes, id lower; beef, id higher. Mutton and. lamb market has a downward tendency owing to buyers holding: off in anticipation of lower prices. LONDON BUTTER PRICES. A; H. Turnbull and Co. have received * cablegram from W. Weddel and Co.. Ltd., London, dated March 3 reporting: the dairy produce market as follows:— Butter.—Danish 224 a; New Zealand, unsalted 212s to 2145. salted 208s to 2125. Market quiet. Cheese.—New Zealand, white 134s to 138s, coloured 136* to 140s. Market firm. MANAWATU STOCK SALES. Abraham and Williams, Ltd.. report:—At our Palmerston North sale, held on Thursday, a moderate yarding or both sheep and cattle came forward. Prices were easier than • previous sales. We quote: store ewes, 10s, 18a Id, to 19s 'id: fat lamhj. to 255; store lambs, 13s 3d to 15s 6d; R. ramsr= aged. 21s; fat cows, SZ. fis £4 7S- to £4 8s; store- cows, £1 2b 6d to 255": forward cows, 30s to £2 7s 6d; weaner heifers. £2 8a «d. £2 12s, to £2 15»: bulls, to £3 7s 6d. „... • , At Feilding: on Friday, a very heavy yarding of sheep came forward. Although prices were easier right through, vendors met the market in most cases. There was poor inquiry for all classes of cattle. We quote: Fat lambs; 38a to 26s 3d: fat ewes, 20s "2s 2d. to; 23a 6d: fat wethers. 31a Id to 393: wether lambs. 12s sd. I2s lOd. 13a 6i 15s 3d. 16s lOd. to 18s 6d; B.F. lambs. 18s to 23s 7d-t 2-tooth ewes. 20s 6d. 23s to 29» 6d; 4-year ewes, 23s 7d,to 29s Id; Z and 5-year ewes, 22s Gd. 23s Bd. 23s Od. ! to 235• lid; 5-year owes, 20s Gd to 22s 6d; 5 and 6-year- ewes. 15s 3d to 16s: 2 and | 4-tooih wethers. 23s Id to 26a 6d; S.D. rams, i lan 2igna; 3gns. to 4gns: Rpmney rams. lgn. liens to Signs: fat bullocks, £6 17s 6d to j £7 Is- fat cows, £3 12s 6d, £4.. to £4 6s; balers' to 38s 6d:» 18-months empty P.A. Heifers to £3 19s; forward cows. £2.2 5» to £9 Gs: store com. 265. 305.. to 3rs 6d: heifers, r.w.b.. £3. £3 15s: springing, heifers; tr "is to £10: springing; cows. £6 16s, £6. to £8 ss: bulls (potters). £1 10s. £2.-to £4.