THE LONDON MARKETS.

New Zealand Herald, Volume LXIV, Issue 19783, 2 November 1927, Page 9

THE LONDON MARKETS.

FOREIGN EXCHANGES. (Received November 1, 5.5 p.m.) A. and N.Z.-Sun. LONDON, Oct. 31. The following rates on foreign exchanges are current to-day, as compared with tho cabled quotations on October 27 and par:— Oct. 31. Oct. 27. Par. Ei-nasals, belga . . • 34.95 34.98 5.045 Pari',, fv. . . 124.10 124.05 ■ 25.225 Stockholm, kr. .. 18.09 18.09 18.159 OaJo, kr. .. 18.48 18.51 18.159 CopenhaKen, kr. . 18,17 18.17 18.159 Birlin, r.m. . . 20.40 v . 20.40 20.43 Rome, lire . . 89.13 89.12 25.225 t'ramie .•• . j 464 s*lo 1611 *4.02 Calcutta, pence .. IS.OO 17 31-32 21 Yokohama, pence 22 15-10 22 15-16 24} Honfc'kone, pence 24 1-8 24 1-16 Montreal, dol. . . 4.86 5-16 4.86 5-16 4.86G New York, dol. . 4.87 1-16 4.87 4.866 Amsterdam, ft. . , 12.08 7-8 12.0!) 12.10 Balavia, tl, . . 12.091 12.10 12.10 TIIE METAL MARKET. (Quotations on Oct. 27 in parentheses. Copper.—Spot, £56 lis a/; three months, £56 lis ItUd (£56 8s lid). Lead. —Spot, £2O 16s 3d (£2O lis 3d) : three months, £2l 3s 9d (£2O 17s 6d). Spelter.—Spot, £26 12s 6d (£26 lis 3d) ; three months, £26 6s 3d (£26 6s 3d). Tin.—Spot ; £261 17s 6d (£264 16* 3d) ; three months, £258 13s 9d (£261 12s 6d). Silver.—Standard; 26 l-16d (25 13-16 d) per oz.; fine, 28 l-8d (27 7-8 d). BRADFORD TOPS. On the Bradford tops market cio/s----breds are scarce and none are offering. There is fair inquiry for Merinos. WHEAT. Wheat.—Cargoes are steadier at ,/n advance of 3d, but buyers are not iesponsive. Part of cargo by the Barra Eleho realised 51s 3d. Trading in rarcels is checked by the demand for hig! er prices. Liverpool futures. —December, ios 3d per cental; Kfarrfi, .10s 3jd ; May, 10s 2|d. WAINCAWA FREEZING WORKS.

INTENTIONS OF THE OWNERS. [BY TELEGII.U'H rItKSS ASSOCIATION. ] W ELLIisGVON, Tnesua.* The general manager of the Bank of New Zealand states that tlie Waingawa freezing works will Icj operated for killing and freezing on, owners' account There will lie no buying of livestock, The bank, which owns the works, hopes that the sale of tlie works may yet be made.

TALLOW AND HEMP MARKETS. HIGH COMMISSIONER'S REPORT. The Department of Agriculture lias received the following cablegram, dated October 29, from the High Commissioner for New Zealand, London : Tallow.—The market is lii'in, with mod orate demand at auction. Present quotations are:—Mutton: Fine. 33s 6d per cwt.; fair to good, 37s to 30s; dark to dull, 35s 6d to 36s 3d. Beef: Sweet and or mixed, o9s to 41s- 9d; fair to good, '36s 6d to 38s 6d : dark to dull, 34s to 36s 3d. Mixed: Fair to good. 36.s 6d to 38s 6d; dark to dull, 34s to 36s 3d. Gut. etc., 32s to 36s 3d. Hemp.—The Manila market is easier. .J grade October- December shipments sold at £42, and down to £4l 30s. J grade afloat sold at £42 ss. At the close sellers quoted November-January and January-March shipments at £4l 10s. The sisal market is -dull, with spot and afloat pressed for sale Tanganyika No. I sold, October-November shipments, at £36, and November-January shipments at £36 ss. The New Zealand market is quieter. More stock is offering, but buyers are holding: back Closing values, binhpoints, £55; fair, £33; and common, £32. Eggs.—Arrivals are light and the demand is steady. Present quotations are:—English (nominal quotation), 23s to 27s per long 100; Dutch, Danish and French, 2ls to 245: Belgian. 18s 6d to 20s; South African and Argentine, 14s 6d to 17s 6d ; Australian, 17s to 18s: Russian. Lithuanian and Polish, lis to 16s. Wool.—The Bradford market is firm with pood demand for spot tops, especially fine qualities. All qualities 50's arid up are in very limited supply Present quotations arc:—64's warp, 4s 4d per lb; average, 4s 3d: 56's. 3s Id : 50's, 2s 4d; 40's, prepared, Is 9d.

PUBLIC TRUST OFFICE. STATEMENT FOR SEPTEMBER. J 1,0 following are particulars of the loan transactions of the Public Trust Office and new busiiyiss reported during September:—The amount paid out in settlement of new- loans v. as £244.283. making a total of £1,437,927 since April i. Ftuthei new loans to the amount of £99.395 were granted, making the total nf new loans awaiting settlement £650.151, while oilers of loans less than Ihe full advances applied for amount to £211.350, a grand total of £861.501. Applications for additional new loans amounting to £342.488 are receiving attention.

New ostites accepted for administration were of a total value of £421.691. and the total new business for the first half of the current financial year exceeds three million pounds, a record figure. Additional new wills deposited for safe Custody numbered 505. and the total now held is 55.814.

CHICAGO WHEAT MARKET. A. and N.Z. CHICAGO, Oct. 31. Wheat.—December, 1 "dollar 25g cents per bushel: March. 1 dollar, 29 cents; May, 1 dollar 31 1-8 cents TARANAKI OILFIELDS. ' I'BY TELE!; n A PH. —-PRESS ASSOCIATION. I GISBORNE, Tuesday. Tara.ua ki Oilfields. Limited, report:— Wniapti No. 2 well: Depth 2460 ft., in ctev shale: diameter casing to 1440 ft. Gisborne No. 1 well: Depth 1003 ft.. in sandy grey shale; lOin. diameter casing to 976 ft.

SOUTHERN EXCKANGES. |BY TKUSOR.U'H. PRESS ASSOCI ATION. J WELLINGTON. Tuesday Xlio following sales took place on the Stock Exchange to-day Union Dank (fractions), 9s (two) ; Bank of Now Zealand. 58s; Ashburton Electric Power Board, SJ, per cent., £99 ss. tILRISTCHURCH, Tuesday. The following sales took place on the Stock Exchange* to-day i —'New Zealand Government Bonds, 5A per cent., 1933, £lOl 7s fed (two); Bank of Adelaide (cum div ), £8 17s 6d; Australian Bank of Commerce. 32s 6d; Commercial Bank of Australia, 28s lOd; National Bank of Australasia (£5 paid, cum div.), £8 15s; Bank of New South Wales, £44 2s 6d, £-14 Is 6<i; New Zealand Refrigerating (eon.), 7s lOd (three), 7s lid, 8s; Union Bank, rights, 50s (four); Union Bank fractions, 9s 3d (six); Bank of New Zua> land, 58s, 58s Id; Dalgety arid Company (cum div.), £l3 13s; Christchurch Gas (new, 5s paicl), 6s 6d. DUNEDUV I'ltesduy The following sales took place on the Stock Exchange to-day Union Bank; fractions, 9s (four); Upper Nevis, 225: National insurance, 80s; Bank New South Wales, £44 ss; Union Bank, rights, 50s, fiOs 6d; Union Bank fractions, 9s (four); Standard Insurance, 61s (three); P- and h. Deferred Stock (cum div.), £270; Ohristchurck Gas (new), 6s 6d.