THE LONDON MARKETS.

New Zealand Herald, Volume LXIV, Issue 19542, 22 January 1927, Page 7

THE LONDON MARKETS.

BANK OF ENGLAND RETURNS. COMPARISONS WITH LAST WEEK. Australian and N.Z. Cable Association. (Reed. 5.5 p.tn.) LONDON", Jan. 20. The Sank of England returns for the ■week ended, January 20, as compared with those for the week ended, January 13, are as follows: Jan. 20. Jan. 13 £ £ Note circulation 137,100,000 138,084.000 Coin . . . . ». 151,491,000 151,759,000 Reserve .. .. 34,131,000 31,923.000 Govt, deposits .. 12,04*2,000 15,372,000 Other deposits .. 111»479,000 111,539,000 Govt, securities .. 31,683,000 34.765.000 Other securities .. 75,877,000 77,056,000 Proportion of reserve to liabilities . , 27.50 26.10

SHORT LOANS AND BILLS. Short loans, 4 per cent., same as last week; three months' bills, 4 1-32 per cent., compared with 4 5-16 per cent, last week. CONSOLS AND COLONIAL STOCK. The following table gives quotations for consols and colonial inscribed stocks, compared with those of January 13:—

FOREIGN EXCHANGES. The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on January 17 and par Jan. 20. Jan. 17. Par. Brussels, beige .. 34.90 3-1.90 5,045 Paris fr. .< .. 122.17' 122.00 25.225' Stockholm, kr 18.18 18.17 18.159 Oslo, kr .. 18.03 19.97 18.159 Copenhagen, kr. 18.21 18.22 18.159 Berlin, r.m. .. 20.46 20.46 20.43 Rome, lire .. ~ 112.13 112.87 25.225 Calcutta, pence .. 18 1-32 18 1-16 24 Yokohama, pence .. 24 1-8 24 1-8 24J Hongkong, pence .. 241 24 Montreal, dol. . 4 4.86 1-8 4.86 1-8 4.866 New York, dol. .. 4.85 3-8 4.85 3-8 4.866 Amsterdam,, fl 12.13 5-8 12.13? 12.10 Batavia, fl .. .. 12.10J 12.11 12.10 THE METAL MARKET. (Prices on January 17 in parentheses.) Copper.—Spot, £55 lis 3d (£55 16s 3d); three months, £56 6s 3d (£56 lis 3d). Lead.—Spot, £27 10s (£27 16s 3d); three months, £27 16s 3d (£2B 2s 6d). Spelter—Spot, £3O 15s (£3l 12s 6d); three months, £3O 13s 9d (£3l 10s). Tin.—Spot, £299 12s 6d (£3Ol 17s 6d); three months, £295 Is 3d (£296 8s 9d). Silver.—Standard, 26|d (25 7-8 d) per oz. j fine, 28 5-16 d (27 15-16 d). THE PRICE OF GOLD. Gold is quoted to-day at 84s per oz WOOL. At the London wool sales to-day prices were very firm at full late rates. There was a splendid selection of . greasy crossbreds and a good lot of greasy scbured Merinos. New Zealand sales were:— "Opou," 15Jd to 14id; "Moko," 221 d to 21-|-d. The Bradford tops market is firm but very little business is passing. Quotations are: Sixty-fours, 46d; sixties, 43d; fifty-sixes, 32d ; fifties, 24id; forty-sixes, WHEAT, FLOUR AND PULSE.

Wheat.—Cargoes have a bearish tone. Argentina reports and expected liberal shipments, combined with freer offers of Australian, led to a quieter influence. There was little expansion of inquiry and the market closed with a decline of 3d to 6d. A cargo of 6000 tons sold at 53s 6d.' Parcels were in small request at 3d decline. Liverpool futures: March, 10s 4£d per cental; May, 10s Id, 7s Bri; July, 10s Spot trade fairly active prices tending to 'harden. Flour. —Steady. Australian ex store, 43sOats.—Steady. Peas and Beans.—lnactive. Sugar granulated, 34s l£d.

BRITAIN'S TRADE OUTLOOK, LONDON BANKER HOPEFUL. Australian and N.Z. Cable Association. (Eecd. 5.5 p.ru.) LONDON, Jan. 20. At the anunal meeting of Barclays Bank. Mr. F. 0. Goodenough, the chairman, took a favourable view of the trade outlook. He said with common sense on both sides in industry thero should be new opportunities for development in the export trade, particularly with the Dominions and colonies. With a favourable trade balance and the close co-operation of the Bank of England and the reserve banks abroad, especially in the British Dominions, they should certainly be able to improve the gold position without any material alteration of the old system. Thus they would not only develop the visible and invisible exports, but build up the solidarity of the Empire."

MELBOURNE PRODUCE. A. and N.Z. MELBOURNE. Jan. 21. The following are to-day's quotations on the Melbourne produce market:— ' Wheat.—ss 3d. Flour.—Old, £l4 10s; new, £l3; cash concession, ss. Oats. —Milling, 3s Id to 3s 3d; feed, 2s lid. Barley.—English, 4s 3d: Cape, 3s 6d to 3s 9d; feed, 3s 3d io 3s fid. Potatoes, £lO 10s to £ll 10s. Onions.—£s 15s to £6. CHICAGO WHEAT MARKET. A. and N.Z. CHICAGO. Jan. 20. Wheat.—May. 1 dollar 40f cents per bushel; July, 1 dollar 31£ cents: September , 1 dollar 28 cents. SOUTHERN EXCHANGES. [bt telegraph-—press ASSOCIATION-.] WELLINGTON. Friday. The following Stock Exchange sales are reported:—Union Bank of Australia, £ls 19$ fid.; Electrolytic Zinc (preference), £1 17s fed. CHRISTCHCRCH. Fridw The following sales were made on the Stock Exchange to-day :—.Huddart--Parker, 47s Sd: National Insurance. ?4a | three parcels): Ashburton Gas, .£5 (three parcels) ; National Bank of New Zealand, £7 2s ft wo parcels 5; New Zealand Insurance (cum. dir.), 37s fid; Burns, Philp and Co., 40s 'Mi 'Bank of New Zealand, 59s 2d;- Electrolytic Zinc.' (pref., com. div.), 37s 3d, 37s 5d (two parcels). DUNE DIN. Friday. Stock Exchange sales.—P. end 0. (deferred stock f. £245 .(odd parcel ); Stagies Brewery, 33s fid: Kawarau, 3s 3d flour), 3s IGd; New Zealand Refrigerating (ecu.?, 6s; Milbarn Lime and Cement Company £> (three).- Auckland Amuse* rnent Park (cm.). 6s prem.Sales Reported.—Soldiers* Insc n' Stock, JS33, £4 per cent., £IG1; SatUi and Smith, 3.1s S<l.

Price. Variation. £ s. d. s. d. Consols, 2| per cent ,. British, 3£, war Loan ., 55 15 0 20 0* 99 17 6 Same. British, 5, War . Loan ., 101 15 0 ID 0* Conversion Loan, 76 12 6 15 Ot Com'wealth, 5J, 1922-27 . . 100 12 6 2 6* Com'wealth, 6, 1931-41 103 10 0 5 Of Victorian, 3, 1909-19 71 0 0 Same. Victorian, 3 h 1929-49 .. 76 15 0 2 6* Victorian, 5i, 1S30-40 .. 101 7 6 7 Of Victorian, 5, 1932-42 . 99 17 6 17 6t Victorian, 4J, 1940-60 ., 94 2 6 17 6t N.8.W., 4, 1933 .. .. 90 10 0 7 6t N.S.W., 3. 1935 .. 71 2 6 15 0* N.S.W.; 3i, 1930-50 81 10 0 2 6f N.S.W., Sf. 1922-32 100 5 0 2 6t N.S.W., 64, 1930-40 101 2 6 2 6+ N.S.W., 6, 1930-40 101 5 0 7 6+ Queensland, 3&, 1930 93 0 0 12 6+ Queensland, 3, 1922-47 .. 67 10 0 Same. Queensland, 3, 1930-40 .. 100 17 6 5 Of New Zealand, 4, 1929 98 2 6 10 0+ New Zealand, 3J, 1940 ., 86 2 6 10 Of New Zealand, 3, 1945 77 0 0 Same. New Zealand, 6, 1936-51 . 108 7 6 2 6t S. Australian, 35-, 1939 . . 82 0 0 Same. S. Australia 3, 1916 or after 59 5 0 5 Ot S. Australia, 6J, 1930-40 102 0 0 5 Of Tasmania. 3J, 1920-40 83 2 6 5 0+ Tasmania, 3. 1920-40 77 0 0 Same. Tasmania, 6}, 1930-40 102 12 6 2 6t W. Australia, 3*. 1929-35 88 0 0 10 0+ W. Australia, 3, 1915-35 , . 84 10 0 7 6+ W. Australia, 6, 1930-40 . 101 10 0 2 6+ ■j-Higher. Lower.