COMMERCIAL.

New Zealand Herald, Volume LX, Issue 18565, 24 November 1923, Page 9

COMMERCIAL.

THE LONDON MARKETS.

BANK OF ENGLAND RETURNS

Australian and N.Z. Cable Association. (Reed. 11.30 p.m.) LONDON, Nov. 22. The Bank of England returns for the week ended November 22. as comparted with those for the week ended November 15, are as follow;— ~ Nov. 22. ■ Nov. 15. Coin ..£125,941,000 £125,869,000 Reserve .... 23,047,000 23,232,000 Note issue . . . . 123,869,000 124,204,000 Govt, deposits ' .. 17,236,000 14,885,000 Other deposits . . 106,232,000 105,804,000 Govt, securities . . 43,439,000 43,719,000 Other securities . , 74,143,000 71,469,000 Proportion of reserve to liabilities 19.15 19.25 BATES OF DISCOUNT, Short loans, 21 per cent., some as last week; three months' bills, 3} per. cent., same as last week. ; FOREIGN EXCHANGES. The following rates on foreign exchangee are current to-day as compared ; with the cabled quotations on November 19 and par:— ■ Nov. 22. Nov. 19. Par. New York (dol.) .. 4.37 i 4.28 4.866 Montreal (dol.) <. 4.47 4.871 4.866 Paris (fr.) .. .. 80.25 : 80.80 25.225 Brussels (fr.). . . 93.45 95 25.225 Rome (lire) .. 1001 100 25.255 Stockholm (kr ) . . 16.83 16.27 18.159 Christiania (kr.) . . 29.67 29.47 18.159 Copenhagen (kr.) . 25.23 25.25 18.159 Calcutta (pence) .. 16 15-16 17 1-16 24 Hongkong (pence) . 271 271 „ — Yokohama (pence)* . 26 7-16 26 15-16 241 Exchange on Berlin is quoted at 33 to 38 billion marks to the pound, against 28 to 33 billions on November 12.

CONSOLS AND COLONIAL STOCKS. The following table, gives quotations, for consols and colonial inscribed stocks, compared with those of November 15:— Price. Variation. £ £ Consols. 21 per cent. .. .. 571 It British 31 p.c. war loan . .. 95* _ it British 5 p.c. war loan . . .. 1001 it British Conversion. 31 p.o. ». 77 lit New Zealand 4 p.c., 1939 .. 94* It New Zealand 81 p. 0., 1940 .. 841 it New Zealand 3 p.c., 1945 . . 751 It New Zealand 6 p.c., 1936*-51 . 1091 5* Commonwealth, 51 p.c., 1922-27 . 1001 it Commonwealth, 6 p.c., 1931-41 . 105 it N.S.W., 4 p.c., 1933 . . . . 91 Same N.8.W., 3 p.c., 1935 .« .. 811 it N.S.W., 31 p.c.. 1930-50 . . .. 761 it N.S.W., 5} p. 0., 1922-32 ..1001 Same N.S.W., 61 P. 0.. 1930-40 . . . . 107 Same N.S.W.. 6 p.c., 1930-40 . . . 1031 _ 1+ Victorian, 31 p. 0., 1921-26 .. 98 Same Victorian, 3 p.c., 1929-40 .. 721 1" Victorian, 31 p. 0., 1929-49 . . 781 « + Victorian, 51 p.c., 1930-40 . . 101 i" Queensland, 4 p.c., 1924 . .. 994 ft Queensland, 81 p.c.. 1921-30 .. 98i i* Queensland, 81 p. 0.. 1921-24 .. 88}. 1* Queensland, Bp. 0., 1922-47 . . 70 Same Queensland. 6 p.c., 1930-40 . . 104 I" 8. Aust., 31 p.c., 1939 .. . .. 831 ft S. Aust., 3 p.c., optional . 62} 11+ 8. Aust., 61 p.c., 1930-40 . . 1071 Same Tasmanian, -31 p. 0., 1920-40 . . 84 it Tasmanian, 3 p.c., 1920-40' . . 791 1* Tasmanian, 61 p.c.,, 1930-40 .. 108 it W. Aust., 31 p.c., 1920-35 . . 85 i n W. Aust., 3 p.c., 1915-35 . . 811 1" W. Aust., 6p. 0.. 1930-40 . . 105 Same tHigher. "Lower. CEREAtLS. PULSE. RIGAR, ETC. Wheat.Cargo trading is difficult owing to fluctuating exchanges. On tadvioes of heavy shipments from Russia prices declined 3d to 6d. Australian January-Feb-ruary cargoes are quoted at 55s 6d. Parcels are in fair demand at 3d decline. Australian are quoted: December. 45s 9d;_ Janu-ary-February, 455. The spot trade is alow and rather irregular. Flour.—Dull. Australian, 32s 9d to 33s 6d Oats.Quiet. Prices unchanged. Peas and Beans.— held. Sugar. lid.

BRADFORD WOOL MARKET. On . the Bradford wool market there is better inquiry all round, and prices show a hardening tendency. Quotations are as follows Sixty-fours, 60d; sixties, 63d; fiftysixes, 3Sd: fifties. 27d; forty-sixes. 19Jd: forties, 17 Id.

RABBIT SKIN SALES. A. and N.Z. LONDON. Nov. 22. At the rabbit skin Bales, 2650 bundles were offered, and 1400 Bold, at 5 to 10 per cent, below September rates. Practically all New Zealand furriers' sorts vera withdrawn owing to high limits, l'hf dec.'lue was most marked m ■' Melbourne" and least in medium grade New aland. CANTERBURY PRODUCE MARKET. [BY , TELEGRAPH.— ASSOCIATION.] CHSISTCHURCH. Friday. Potatoes are, if anything, easier than they were last week, and it is not- easy to get £5 a ton for forward delivery for next season. Cocksfoot machine-dressed Akaroa seed is worth about 9jd, equal to 5d or 6d to farmers on trucks. In regard to. perennial ryegrass, there has been an inquiry for high germinating seed from England, but the figure • mentioned is not quite good enough to result in any export. Fowl wheat prices show an advance of from id to Id during the last few days, and a fair quantity in this line has changed hands between merchants. '