COMMERCIAL.

New Zealand Herald, Volume LXII, Issue 19061, 4 July 1925, Page 9

COMMERCIAL.

THE LONDON MARKETS. BANK OF ENGLAND RETURNS. COMPARISONS WITH LAST WEEK. Australia a and N.Z. Cable Association; (Heed. 10.5 p.m.) LONDON, July 2. The Bank of England returns for .the week ended July 2, compared with those for the week en'ded June 25, are as follows July 2. June 25. £ £ Coin .. i. 155,756,000 155.358,000 Reserve .. .. <50,723.000 31,603,000 Note issue .146,629,000 145,270,000 Govt, deposits . . 11,659,000 18,559,000 Other deposits . 143,951,000 118,254,000 Govt, securities ~ 46,577,000 39,082,000 Other securities . . 96,278,000 - 79.023,000 Proportion of resocvo _ to liabilities .. 19.74 24.02 SHORT LOANS AND BILLS. Short loans, 3 1-8 per cent., compared with 32 per cent, last week; three, months' bills, 4 9-16 per cent., compared with 4£ per conk last week. FOREIGN EXCHANGES. The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on June 29 and par:— July 2. Juno 29. Par. Now York (dol.) .. 4.86* 4.86 3-16 4.866 Montreal (dol.) .. 4.86 4 £p n . Paris (fr.) ... 104.05 107.25 25.225 Brussels (fr.) .. 104.25 108.25 25.225 Rome (lire) .. 139.38 1361 Berlin (r.m.) .. 20.42 20.44 20.43 Stockholm (kr.) .. 18.13 18.14 J8.159 Oslo (kr.) .. 26.58 27.74 18.159 Copenhagen (kr.) . 23.57 J? Calcutta (pence)' .. 181 181 24 Hongkong (penco) . 29 29 Yokohama (pence) 201 201 241 Amsterdam . . 12.132 12.13 Batavia . •. 12.05} 12.12 CONSOLS AND COLONIAL STOCK. The following table gives quotations for consols and colonial inscribed stocks, compared with those of June. 25: , r VariaPrice. * tion. £ £ t Consols, 21 per cent. .. 65J 1 British 31 p.c., war loan .. 9(4 , »- British 5 p.c. war loan .. 9J* British Conversion, 31 p.c. .. 75} it Now Zealand, 4 p.c., 1929 .. 941 1 + Now Zealand, 31 p.c., 1940 .. 82} 1| New Zealand, 3 D- o ''™* s -." Ji 1 o|» New Zealand. 6 p.c.. 1936-51 . 106 -1 Com'wealth. 51 P. 0., 1922-27 .. 100 1+ Com'wealth. 6 p.c.. 1931-41 . 1031 « N.S.W., 4 p.c., 1933 . .. 90 N.S.W., 3 P.c., 1935 . .. 751 NSW. 31 P. 0., 1930-50 .. 811 —- N.S.W., 51 P.c., 1922-32 .. 1001 / H N.S.W., 61 p.c., 1930-40 \. 102! N.S.W.. 6 p.c., 1930-40 .. 102 i Victorian. 31 p.c., 1921-26 .. 08 Victorian, 3 p.c., 19*9-10 .. 701 Victorian, 31 p.c., 1929-49 .. 76J , Victorian, 51 p.c., 1930-40 .. 1011 ',7 Queensland, 4 p.c., 1924 •• 90f ft Queensland, 31 p.c., 1921-24 . 681 i Queensland, 6 p.c., 1930-40 .. 102 - • S. Aust., 3i p.c., 1939 . . 82* ~ S. Aust., 61 p.c., 193040 .. 10J —I S. Aust., 3 p.c., optional .. 59! Tasmanian, 31 p.c.,/1920-40 .. 811 Tasmanian. 3 p.c., 1920-40 .. 77 Tasmanian, 61 p.c., 1930-40 . 1031 J W. Aust.4 31 p.c., 1920-35 .. 86 jt W. Aust., 3 p.c., 1915-35 .. 81 S. W. Aust., 6 p.c., 1930-10 .. 101 i x i* tHigher. 'Lower. S. Same. —Not quoted last week. 1 Ex interest. WHEAT, FLOUR AND PULSE. Wheat. —Cargoes are depressed and from Is to 2s lower on American weakness, and also on reports of financial .difficulties, in Europe. Parcels are dull and ,_-ls cheaper. Liverpool futures: July, 103 llAd per cwt; October, 10s 3 3-8 d; December, 10s Oid. "Die spot trade is quiet. Australian ex ship, 57s 6d. Flour.—Dull. Australian ex store, 42s 6d. Oats, —Easier. Peas and Beans. —Inactive. „ Sugar.—Unchanged. " BRADFORD TOPS.

The Bradford tops market is showing a rather better feeling. Topmakers' quotations are firm but business is 'united". TIN STOCKS IN LONDON. •

Tin stocks total 19,535 tons; spot, 1411 tons; afloat, 1670 tons; deliveries, 2252 tons. v

THE METAL MARKET. (Quotations on June 29 in parentheses.) Copper.—Spot, £6O 8s 9d (£59 18s 9d); three months, £6l 8s 9d (£6O 18s 9d).

Lead.—Spot, £33 6s 3d' (£33 lis 3d); three months, £32 13s 9d (£32 15s). Speltpr.—Spot, £34 6s 3d (£34 6s 3d); three months, £33 13s 0d (£33 12s 6d). Tin.—Spot, £2501 17s 6d (£253 ss); three months, £255 2s 6d (£255 7s 6d). Silver.—Standard, 32d (32^<1); fine, 34 9-l6d (34 13-16 d) per oz. AMERICAN COTTON CROP. / YEAR'S ESTIMATED YIELD. Australian and N.Z. Cable Association. (Reed. 7.5 p.m.) WASHINGTON. July 2. The Department of Agriculture announces that the condition of the 1925 cotton crop is 75 per cent. > normal. It forecasts that the total production will bo about 14,339,000 bales, from 46,448,000 acres, compared with the 1924 yield of 13,618,751 bales from 42,641,000 acres. The condition of last year's crop was 71 per cent, normal.

CHICAGO WHEAT MARKET. A. and N.Z. CHICAGO/ July 2. Wheat.—July, 1 dollar 43i cents per bushel; September, 1 dollar 40 cents; December, 1 dollar 41£ cents. MELBOURNE HIDE SALES. Australian and N.Z. Cable Association. (Reed. 6.5 p.m.) MELBOURNE, July 3. At tho hides sales' firm lights and medium were in keen request. Prices were in sellers' favour. Heavy sheetys without substance wore in poor demand. AUSTRALIAN PRODUCE. Australian and N.Z. Cable Association. (Reed. 5.5 p.m.) MELBOURNE, July 3. Wheat. —Nominal, 6s> Id to 6s 2d. Oats.-r-Milling, 2s 7d to 2s 8d; feed, 2s 4d. Barley.—English, 5s 6d to 6s; Cape, 4s 4d to 4s sd. Potatoes.—£B 5s to £9. Onions.—£l6 to £l7.

Canadian Goldmines. , PROSPERITY IN ONTARIO. Preliminary estimates for. tho first quarter of 1925 show the income of tho goldmines of northern Ontario to bo the Ivghest of any quarter in their history. Tho income of the mining companies in the Porcupine District is estimated at between 5,800,000 and 6,000,000 dollars* (£1,160,000 to £1,200 000), while the income in tho Kirkland Lake District was approximately 1,300,000 dollar 3. TRADE DEPRESSIONUNEMPLOYMENT IN SYDNEY. During the month of May there was a considerable increase in the numbers of unemployed in Now South Wales. In the Sydney metropolitan area tho increase is officially stated to have been brought about through the depression in miiny manufacturing industries and to the closing of the wool season. In the country it is mainly due to tho heavy rains and Hoods. . The report of tho Department of Labour and Industry stated that, at the end of May, the number of unemployed in the metropolitan area was 8500 and in the country districts 4000, making a total of 12,500 unemployed in tho State* . (