THE LONDON MARKETS.

New Zealand Herald, Volume LXV, Issue 19892, 10 March 1928, Page 9

THE LONDON MARKETS.

BANK OF ENGLAND RETURNS. , T ■ 's '<v? ; COMPARISONS WITH LAST WEEK. - >• • (Received' March 9, 5.5 p.m.) A. and N.Z.-Sun. LONDON. 1 March 8. The Bank of England returns for the week ended March 8, as compared with those-for" the week ended March 1, are as follows: ' ' Mar. 8. Mar, 1. £ £ Note circulation -. 135.115,000 135,349,000 Coin ... 157.598.000 157,249,000 Reserve .. .. 42,533.000 41.650,000 Govt.. daposila .. 8,462,000 10.150.000 Other deposits .. 102,879,000 98.507,000 Govt,' securities . . 31,762,000 30.683,000 Other secui-itios . . 56,321.000 54,587.000 Proportion of reserve to 'liabilities . . 38.10 38.30 SHORT. LOANS AND BILLS. Short loans, 3£ per cent., same as last week; three months' bills, 4 5-32 per cent., compared with 4 3-16 per cent, last week. . , CONSOLS AND COLONIAL STOCKS. The following table gives quotations for consols and colonial inscribed stocks, compared with those of March 1 ; :—

FOREIGN EXCHANGES. The following rates on foreign exchanges aro current to-day,- as compared with the cabled quotations on March 5

THE METAL MARKETS, (Quotations on March 5 in parentheses.) Copper.—Spot, £6l 3s lid) ; three months, £6l Is 10|d (£6O 10s 7*d).. i - ,• ; • Electrolytic. Zinc.—Spot, £66 10s, (£66 ss); three months, £66 15s (£66 12s 6d). ■ ' -■ ' . Wire Bar3.~Spot, £66 15s (£66 12s 6d); three months, £66 15s (£66 12s 6d). . Lead.—Spot, £2O 10s (£l9 15s); three months,, £2O 2s 6d (£2O 3s fld). - < Spelter.—Spot, £25 5s (£25); three months, £25 2s 6d (-£24 17s 6d ). Tin.—Spot, £230 7s 6d (£232 65.3d); three months, £232 12s 6d (£234 13s 9d). Silver.—Standard, 26 3-16 d (26 3-16 d) per oz; fine, 26 3-16 d (28£ d.). WHEAT, FLOUR AND .PULSE; Wheat.—Cargoes are firm and have advanced. 3d to 6d. , Quotations are, at, 53s to 52s 9d. Parcels are .firm and in i: active demand at an advance of 3d to 6d, Quotations are at 52s to's2s 9d. Liverpool futures: March, 10s 1 5-8 d per cental;. May, 10s 4d; July, 10s 5Jd. r Spot trade quiet, but firm. Australian, ex store; 62s to 535. Flour. —Firm, Australian) ex store} 375. 6d. , , = : . •' Oats. —Short supply. . A ,Gartons, 34s to 355; Australian, Algerian, 28s to 295. Peas.—Blue. ! Better derharid. Tasmanian, 360s to 380s; New. Zealand, 340s to 3605. Maples.—Quiet. Tasmanian, 87s 6d to 90s; New Zealand, 80s to 32s 6d. Beans, —New • Zealand, 45s to 48s. P. AND 0. SHARES. P. and 0. Deferred Stock is qnoted at £239 10s.

BRADFORD TOPS. The Bradford tops market, is firm, but there is more inquiry than actual business. 64's are quoted at 4s 7d a lb.; 60's, 4s 4d; 56's, 3s 7d; 50's, 2s B£d; 46'sy 2s 2£d; 40's, 2s Id. t AMERICAN COTTON CROP." ? MISSISSIPPI PROSPECTS. A. and-N.Z. WASHINGTON, March 8. Mr. H. G. Hoover, Secretary of Commerce, predicts -that the cotton-aveas in the Mississippi Valley have • sufficiently recovered from the; recent' flood disaster to produce a full crop this year. ZINC CONCENTRATES. A. and N.Z. LONDON,, March 8. The annual, estimates .of -the Bpard of Trade provide £2,037,000 for the purchase of Australian Stinc", concentrates, the sales of which are expected to return a total o;f.£l,"502,000. CHICAGO WHEAT MARKET. A. and N.Z. : ' CHICAGO, March 8. Wheat.—March., 1 dollar 38£ cents per bushel; May, 1 dollar cents; July, 1 dollar 35J cents. MELBOURNE PRODUCE. A. and N.Z. MELBOURNE, March 9. : The iollowing are to-day's quotations on Che Melbourne, produce market : Wheat.—Steady at 5s 6d. V. .. , Flour.—£l2 7s 6d to £l2 12s 6d. Bran, Pojlard.—£7 10s. - ' ■ Oats,—Milling, 4s to 4s 2d; feed, 3s (jd to 3s 9d. • , : l Barley. 5s to 5s 3d; Cape, 4s 5d to 4s 6d. ; Potatoes.—£.4 to £4 ss. " Onions.—£7 10s. / • * SOUTHERN EXCHANGES. [BY TBLEGKAPH.—PKESS ASSOCIATION. J CHRISTCHURCH, Friday. The following sales took' place on the Stock Exchange to-day:—English, Scottish and Australian Bank, £8 2s (three); Bank of New Spoth Wales, £47 l£s 6d; Bank of New Zealand, 59s ;'Gbldsbrough, Mort, 49s Id (two); New Zealand Refrigerating (con.), 7s 6d (four); WestportStocktpn Coal (pref.), 3s Id, 3s; Chrlstrchurnh Gas, 23s lid; Commercial Bank of Australia (pref.), £6 17s 6d; Monteith's Brewery, 19s ldi LONDON TALLOW MARKET. The New Zealand Loan and Mercantile Agency Company, Ltd., has received the following cablegram from its London house, dated March 7:—Tallow: Finei mutton, 37s 9d per cwt. (last week, 38s 6d); food beef, 3os 6d por cwt (38s 6d); mixed, 7s per cwt. (37s 3d). The marhet is active.

Price . Variation. S. d. Consols, 21 per cent 55 5 0 16 o* British. 6 War Loan 102 0 0 2 61 Conversion Loan, 31 76 7 6. 7 6+ Coin'wealth, 51, 1922-27 98 15 0'. 20 0* Ooqi'wealfch, 6, 1931-41 . . 10J 8 9 1 3* Victorian. 3. 1929-40 .... 72 10 0 2 61 Victorian, SJ, 1929-49 . . 77 3 9 18 9* Victorian, 51, '1930-40 . . 99 15 0 47 6* Victorian, 6, 1932-42 97 12 0 iS 0* Victorian, 43, 1940-60 . . ' 95 2 6 2 . fit N.S.W., 4, 1933 93 11 s 1 3* N.S.W., 3, 1935 . 75 15 0 Same. N.S.W:, ~ 31, 1930-50 85 0 0 22 6*: 5 0t N.8.W., 55. 1922-32 101 12 .6 N.S.W., 61, 1930-40 102 0 0 1 3t N.S,W-r 6. 193Q-40 ... 101 18 9 1. 3t Queensland, 31. 1330 . . 96 3 9 1 3* Queensland, 3, 1922-47 . . 71 '2 6 1 Same.' Queensland,:' 6, 1930-40 . . 101 6 0 2 6* New Zealand, 4, 1929 .'. 99 13 9 1 31 New Zealt.nd. 31, 1940 . . 87 17 6 Same. New Zealand, 3, 1945 ., 78 12 6 22 6* New Zealand, 6. '1936-51 . 107 10 0 5 0+ S. Australia, 81, 1939 . . .86 • O 0 Same. S. Aus..- 3. 1916 or, after 60 15 0 7 6* S. Australia. 61. 1930-40 102 0 0 7 61 Tasmania, 31, 1920-40 i, 84 10 0.; Fame. Tasmania. 3. 1920-40 80 0 0 Fame. Tasmania, 61, 1930-40 . 103 0 0 Same. W,. Australia. .31, .1929-35 89 2 6 5 0+ W\ Australia, 3, 1915-35 . '86 2 6 2 61 W. Australia. 6, .1930-40 . 101 5 0 2 6* t Higher. Lower. "The British 31 per cent. ! war loan was redeemed oil March 1.

and par:-— Mar. 5. Par. Mar. 8. Brussels, belRa. . 35,00 35.00 35.00 ■ Paris, fr. 124.03 124,02 JJ5.225 Stockholm, kr. . 18.18 18.17 18.159 Oslo, kr, . . . 18.32 ' 18.31 18.159 Copenhagen, kr. 38.22 18.21 18.15,9 "Berlin, r.m. . , . 20.40' 20.42 20.43 Rome, lire . , , 92.28 - <12.42 ) 25.225 Prague, kr. _ . , 164 5-8 ,104 5-8 . ,24.02 Calcutta, pence . 18 ! 18 24 ' Yokohama,, pence ; . .23 3-32 23 1-16 ,24 J Hongkong, pence . . 24 3-8 . 24 3-ft — Montreal, dol. . 4.88 4.88 3-8 New York, dol. . . 4.87 13-16 4.87 7-8 4.866 Amsterdam, fl. . . 12.121 12.12} 12.10 Batavia. fl. . . 12.14 12.14 12.10