FOREIGN EXCHANGES.

New Zealand Herald, Volume LXI, Issue 18711, 17 May 1924, Page 7

FOREIGN EXCHANGES.

The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on May 12 - and par: May 15. May 12. Pal. New York (dol.) .. 4.361 — 4.868 Montreal (dol.) .. 4.44} 4.48} 4.868 Paris (fr ) . . . . 74.85 76.45 25.225 Brussels (fr.) . . 895 9H 25 225 Rome (lire) .. — ?8} 25 225 Stockholm (kr.) .. 16.43 16.46 18.159 Christiania (kr.) .. 31.53 31.37 18 109 Copenhagen (kr.) . . 25.30 . 25.67 18.159 Calcutta (pence) . . 163 16} *4 Hongkong (pence) . 28} 28} Yokohama (pence) . 22 3-16 22 '2*ll The mark is quoted at 185 billions to the sterling, compared with. 19 billions on May 8. tNot quoted on May 12.. BRITISH AND COLONIAL STOCKS.

The following table gives quotations for consols and colonial inscribed stocks, compared with those of May 8:— Price. Variation. £ £ British Conversion 31 p.c. . . 77i 4 New Zealand 4 p.c., 1922 . . 95} 4 Commonwealth 5$ p. 0., 1922-27 1014 . Commonwealth 6 p.c., 1931-41 10°. i N.S.W. 4 p.c.. 1933 . . • • 93* V t N.S.W. 3 p.c., 1935 .. . • 831 it N.S.W. 8i p.c., 1930-50 . . . . TO Same. N.S.W. 5} p.c., 1922-32 . . . . 101} Same N.S.W. 64 p. 0., 1930-40 . . . . 1081 4 N.S.W 6P. 0.. 1930-40 .. . 1041 it Victorian 8} p.c., 1921-28 . . 99} q,™! Victorian 8 p.c., 1929-40 .. 74 Same. Victorian 3J p.c., 1929-49 .. 80 Same. Victorian 5i p.c., 1930-40 . . 1031 I Queensland 4 p.c., 1924 . . 1011 • Queensland 81 p.c., 1921-30 .. 101 iQueensland 31 p. 0., 1921-24 . . 9-i it Queensland 3 p.c., 1922-47 .', 7:24 it Queensland 0 p.c., 1930-40 . . 105 i_amo. S. Australian 3} p.c., 1939 . . 85 4* 8. Australian 3 p. 0., optional . . 62 ■ Same 8. Australian 6} p. 0., 1930-40 . . 108{ J Tasmanian 6} p.c.. 1930-40 . . 107J a 4 W. Australian 3} p.c., 1920-35 . 87} Same. W. Australian 8 P.c.. 1916-35 . 82 | W. Australian 6 p.c., 1930-40 . 106 ft tHigher. 'Lower. BUTTER AND CHEESE.

The butter mirkei id tending to be easier owing to Germany having materially reduced her purchases. The spell of warm weathter, following heavy rains, is causing expectations of an increase in English and Continental outputs. New Zealand choicest Baited is quoted at 1683 to. 170s; exceptional Quality. 1745. Australian is quoted at 15Gs to 160s. Both unsalteds are .at 4s to 6s premium. The Danish quotation is un tered, but the market is reported to be weak. . _ Cheese is steady. New Zealand is quoted at 84s, and Australian at about 80s. WHEAT. FILOUR. AND PULSE. Wheat.Cargoes are firm, sellers occasionally asking an advance of 3d to Gd, but business is slow. Parcels are 3d dealer. A 8000-tons parcel by the Part Hardy realised 47s IOJd, and a parcel by the City of Madras 48s. A parcel was sold at Manchester ex the Banffshire at 47s 6d. The spot tradb is firm. Australian, ex store, is quoted at 49s 3d. Flour.—Stea'dily held at 85s 3d ex store. Oats.Quiet. Gartons, 32s to 85s. Peas.—Blue, firm: Tasmanian, 4405; New Zealand., 360s to 390b Maples.—Easier, due to Home grown being in large supply and offering" cheaply. Tasmanians, 75s to 85s; Nfew Zealand. 603 to* 70s. —Slow. New Zealand, 455. Sugar.—Granulated. 42s lid. FROZEN MEAT.

Messrs. Dulgoty and Company, Ltd., have reoeived the following cable from their London office, dated May 15:— Frozen Meat.—Ntew Zealand, prime crossbred lamb, Canterbury, heavy, 9!d; : light, lid. North Island, heavy. 9id; light. 101 d. The demand for New Zealand has been checked by the increased prices askfcd. The market is firmer. New Zealand prime crossbred mutton. Canterbury, heavy, fisd; light, 7d. North Island, heavy, 6ld; light. 6Jd. The demand is moderate, and the market firm. THE METAL MARKETS. (Reed. 11.85 p.m.) LONDON. May 15. (Quotations on May 12 in parentheses.) Copper.—Spot, £61 8s 9d (£62 6s 3d); three months. £63 6s 3d (£62 3s 9d). Lead.—Spot, £29 12s 6d (£29 10s); three months, £28 10s (£2B 10«). Spelter.—Spot, £81 (£3O 19a 9d); throe months, £31 5s (£3l) Tin.—Spot, £219 12 s 6d (£229 17s Gd) ; three months, £218 18s 9d (£229 12s 6d). Silver.—33 9-16 d (33d) per oz. AUSTRALIAN PRODUCE. A. and N.Z. SYDNEY. May 16. The (following are current prices for produce and hides:—Oats, Tasmanian and Algerian, 3s 9d,' 3s lOd: maize, yellow ss, white 4s 9d; potatoes. Tasmanian £9 4s to *£10 10s, Victorian £6 10s to £7 10s; onions, Victorian £9 to £9 10s. Melbourne prices are:—Oats, 80 to 8s 4d; barley. English 4s to 4s 3d, cape 3s 6d to8s 7d; potatoes, £3 15s to £4 10s; onions, £7 5s to £8 ss.

MELBOURNE HIDE MARKET. A. and N.Z. MELBOURNE. May 16. Owing to t the absence of buyers in Sydney there is poor competition for hides. Stouts are unchanged, heavies and mediums a farthing to a' halfpenny lower. Lights declined a farthing. Kips are firm.

FEILDING STOCK SALES. [by telegraph,— association.] FEILDING, Friday. Entries for the Feilding sale to-day conaisted of 3500 sheep and about 400 cattle. The sheets entry was mainly store lambs and breeding ewes, with a fair number of wethers and fat sheep. Prices were on a par with last week, with perhaps the exception of fat sheep, which were not up to the •His.litv ehown _in former sales. Breeding ewes were not in demand, and a good many pens were passed. There was a large entrv of cattle, including a good number of dairy cows, which met with poor demand. Good Jersey-cross heifers met with a «ood demand. Prices of store cattle were generally lower than last week, and a large quantity of young cattle met with no demand.

CANTERBURY MARKETS. [BY TELEGRAPH. —PItE»3 ASSOCIATION.] CHRISTCHURCH, Friday. Some exoitemont was oaused early in the week in the oat market by a report that it was intended by the Government to remove the duty on imported oats, which would permit Canadians to come in at 3s 8d per bushel. The fact that the rumour has subsided this past couple of days indicates that Che report was a " kite flyer."' Transactions in the local market havfe quietened during the week, and some sales have been nuu'e at 5s f.o.b.s.i. for prompt / delivery, and up to 6a 3d for June. It is understood that there has bebn some difficulty in the shipping arrangements of Canadians, and arrival of most of the consignments will be delayed until early August. This report, however,_ may be inspired. In the meantime there is no sign of an inorease in the local supplies. — Chaff is firm, and a fair quantity has been going from Ashburton district to Dunedin, the market there being more profitable than Auckland. The Kaitangata is taking a shipment to Auckland, t/he first -.this season, from Lyttelton. Quotations are £6 at country stations. Potatoes took a spurt during the week, and lip to £5 10s on trucks was paid, but the flutter did not, last. To-day's local quotation to farmers is £5 ss. The Wingatui left to-day with supplies for Auckland, and the Kaitangata is due. Ryegrass firmed, up during the wteek, and sales of 27-28lb. seed improved by 3d per bushel, the f.o.b.s.i. price being 8s 3d. Peas showed a temporary improvement, but are again quitet, up to 6a 2d to farmers being the quotation. The Waikouaiti is taking a shipment of linseed to Melbourne.