THE LONDON MARKETS.

New Zealand Herald, Volume LXIV, Issue 19720, 20 August 1927, Page 9

THE LONDON MARKETS.

BANK OF ENGLAND RETURNS. COMPARISONS WITH LAST WEEK. (Received August 10, 5.5 p.m.) A. and N.Z. LONDON, Auk. 18. The Hank of England returns for the week ended August 18, as compared with those for the week ended August 11, are as follows: — Aug. is. Aug. 11. Note circulation . . 186,037.000 137,493.000 Coin . . . . 151,049,000 152,700,000 Reserve . . . 34,862,000 34,957,000 Govt, deposits .. 17,791,000 11,790,000 Other deposits , . 10J.-158.000 101,611,000 Govt, securities . , 49,957,000 47.442.000 Other securities . . 51,588,000 49,160,000 Proportion of reserve to liabilities . . 29.40 30.82 SHORT LOANS AND BILLS. Short loans, 3j per cent., same as last week; three months' bills, 4$ per cent., same as last week. CONSOLS AND COLONIAL STOCKS. The following table gives quotations for consols and colonial inscribed stocks, compared with those of August 11:

THE METAL MARKETS. (Quotations on August 15 in parentheses.) Copper.—Spot, .£55 10s (£55 4s 4Jsd) ; three months, £55 2s 6cl (£55 10s 7Jd). Lead.—Spot. £23 (£23 Is 3d); three months, £23 7s 6d (£23 8s 9d). Spelter.—Spot. £2B (£27 17s 6d) ; three months, £27 17s 6d (£27 16s 3d). Tin.—Spot, £291 7s 6d (£293 7s 6d) ; three months, £284 18s 9d (£285 7s 6d). Silver.—Standard. 25|d (25 l-8d) per oz.; fine, 27{d (27 3-8 d). BRADFORD TOPS. On tho Bradford top market there was a small attendance owing to the holidays. Business nil, quotations unchanged. WHEAT, FLOUR AND PULSE. Wheat. —Cargoes are steady and there is moderate business at late rates. By the Pakipaki, 54s 6d Parcels opened steadier but closed quieter owing to reaction in American options. Liverpool futures: October, lis 34d per cental: December, lis 3£d; March,"lis 2 l-8d ; May, lis 0 5-Bd. Spot trade quiet. Australian, ex ship, 56s 6d Flour.—Steady. Australian, ex store, 41s 3d. Oats.—Firmer. Peas and Beans. —Dull. P. AND 0. SHARES. P. and 0. (deferred stock) are quoted at £285. PRODUCE IN DUNEDIN. MILLING WHEAT MARKET. [BY TELEGRAPH. —OWN CORRESPONDENT. ] DUNEDIN, Friday Business in the milling wheat market is practically at a standstill. Limited stocks are held in local stores and holders are firm in their ideas of value. Most millers are carrying full stocks and their position is also affected by the fact that there ] is a decreased demand for flour. Values remain unaltered. Tuscan is quoted at 6s, sacks extra, on trucks, country sidings, with Hunters and velvet at relatively higher prices. Business is slow in the fowl wheat market. The long period of quietness in the oat market continues and some of the holders are now inclined to break their prices. Sales of A grade Carton* have been made at 3s 2d. f.0.b., s.i., and B's at 2s lis. Even at these prices buyers arc scarce. Tha_.export demand is also weak. Tho nominal prices to farmers are 2s 6d for A Gar tons and 2s 3d for B's, on trucks, sacks extra. The demand for seed oats this season is poor. Although consignments of chafT are on the light side, little business is being transacted. Feeders are fully stocked and onlv small lots of good quality are inquired for. Local growers of chaff are still holding their stocks. The value of good bright oaten sheaf is £5 per ton. sacks extra, ex truck. Shipping business has been done from Canterbury at £5 ss, f.0.b., s.i. Business in potatoes is dull. Potatoes are quoted at £5 5s a ton. sacks included. 'ex truck, for sound lines showing no growth. More interest! has been shown in the seed market lately, chiefly owing to tho possibility of export business. MELBOURNE HIDES MARKET. A. and N.Z. MELBOURNE. Aug. 18. Hides are irregular. All grades are from 1 8d to jd lower. SOUTHERN EXCHANGES. [BY telegraph.—press association.] WELLINGTON. Friday. The folowing sales were made on the Stock Exchange to-day: —sJ, per cent. Government Stock, 1933, £IOO 15s; Sharland and Company (ord.), 21s. CHRISTCHURCH, Friday. The following sales were made on the Stock Exchange to-day:—New Zealand Government, s if per cent., Inscribed Stock, 1933, £IOO 15s; National Bank of Australasia (£5 paid), £8 lis 6d; South British Insurance, 57s 9d; Goldsbrough, Mort, 45s 2d and 455; Holdens Motors (cum div.), 33s 9d; Now Zealand Government, por cent., Inscribed Stock, 1938, £96 7s 6d; Bank of New Zealand, 58s 2d; New Zealand Refrigerating (con., cum. div.), 6s 7d; Kaiapoi Woollens (pre!:), 13s 6d; Stockton Coal (pref.), 3s; New Zealand Breweries, 42s (2 parcels) ; Staples Brewery, 37s 6d; Mercantile Finance Corp. * (5s paid, cum div.), 3s. DUNEDIN. Friday. Tho following sales were made on the Stock Exchango to-dav:—New Zealand Breweries, debentures, 23s 6d; Bank of Now Zealand, 58s 3d,

Price. Variation. £ 8. d. a. d. Consols, 25 per cent. . . 54 15 0 2 6* British, Hi War Loan . 00 6 3 2 6t British, 5. War Loan . . 101 5 0 10 0* Conversion Loan. . . 76 10 0 2 6* Cofti'wealth, 5i 1922-27 . 98 7 6 5 Of Com'wealth, C. 1931-11 . 102 0 0 Same. Victorian, 3, 1929-49 . . 71 15 0 Same. Victorian, 3i, 1929-49 . . 78 0 0 Same. Victorian, 5i, 1930-40 . . 102 7 6 2 fit Victorian, 5, 19.12-42 . . 99 12 6 7 fit Victorian. 41. 1940-60 . . 95 5 0 5 0' N.S.W., 4, 1933 . . . . 93 17 6 2 6t N.S.W., 3, 1935 . . . . 76 2 6 2 61 N.S.W., 31. 1930-50 . . 86 5 0 Same. N.S.W., 53, 1922-32 . . 101 17 6 Same. N.S.W.. 6J, 1930-40 . . 103 8 9 6 3* N.S.W.. 6. 1930-40 . . 102 15 0 5 0* Queensland. 35, 1930 . . 95 7 6 Same. Queensland, 3, 1922-47 . 71 10 0 Same. Queensland, 6, 1930-10 . . 102 0 0 Same. New Zealand. 4. 1979 . . 99 0 0 2 6+ New Zealand, 3%, 1940'.86 18 9 18 9* New Zealand, 3. 1915 . . 78 5 0 Same. New Zealand 6. 1936-51 107 6 ■ 3 1 3+ fi. Australia. 31 1939 . . 85 2 6 2 fit S Aus.. 3. ",916 or after 61 0 0 20 Ot S. Australia. 6>,. 1930-40 103 0 0 5 0* Tasmania. 3}. 1990-40 . . 84 10 0 15 0+ Tasmania, 3. 1920 40 76 5 0 5 0* Tasmania M. 1930-40 , . 103 5 0 2 W Australia. 35, 19"9-35 89 10 0 . 11 3+ W. Australia. 3. 1915-35 PS 0 0 20 0* W. Australia. 6. 1930-40 . 102 0 0 5 0+ 1 "FTirrher. * Lower. FOREIGN EXCHANGES. The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on August 15 and par:— Aug. 18. Aug. 15. Par. Brussels (belga.) . . 34.95 34.93 35.00 Paris (fr.) . . . . 124.00 124.05 25.225 Stockholm (kr.) . . 18.11 18.11 18.159 Oslo (kr.) . . . . IS.74 18.68 18.159 Copenhagen fkr.) . . 18.15 18.15 18.159 Berlin (r.rn.) . . 20.44 20.45 20.43 Rome (lire) .. 89.18 89.30 25.225 Calcutta (pence) . . 17i 17 i 24 Vokohama (pence) ' 233 23 > 21i Hongkong (pence) 23} 23 i — Montreal (dol.) 4.86 5-16 4.8C 5 3-16 4.866 New York (dol.) .. 4.86j 4.86| 4.866 Amsterdam (fl.) . . 12.13]t 12.13 12.10 Batavia '(fl.) .. 12.13. 12.12 12.10