THE LONDON MARKETS.

New Zealand Herald, Volume LXV, Issue 19924, 18 April 1928, Page 9

THE LONDON MARKETS.

FOREIGN EXCHANGES.

Australian Association—United Service (Received April 17, 7.35 p.m.) • LONDON, April 16,

The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on April 12, and par:—

April 16. April 12. Par. Brussels, belga . . 34.95 34.9 C 35.00 Paris, fr 124.02 124.02 25.225 Stockholm, kr. . . 18.19 ' 18.18 18.159 Oslo, kr 18.26 18.27 18.159 Copenhagen, kr. . . 18.20 18.20 18.159 Berlin, r.m. . . 20.41 20.41 20.43 Rome, lire . .. 92.50 92.60 25.225 Calcutta, pence . . 18.00 IS.OO 24 Prague, kr. . . 10-4 11-16 164J Yokohama, pence 23J 24« 24i Hongkong, pence . 24i 23 9-16 Montreal, dol. .. 4.88 3-16 4.88 3-16 4.866 New York, dol. . . 4.853 4.88} 4.866 Amsterdam.fi. . 12.101 12.11 12.10 Batavia, fl. . . 12.Hi 12.13 12.10 THE METAL MARKETS. (Quotations on April 11 in parentheses.) Copper.—Spot, £6l 13s l£d (£6l 9s 4£d) ; three months, £6l 14s 4£d (£6l 14s 4£d).

Electrolytic, Copper.—Spot, £66 10s £66 10s); three months, £67 (£67). Wire Bars.—£67 (£67); three months, £67 (£67). Lead.—Spot, £2O (£20); three months, £2O 8s 9d (£2O lis 3d). Tin.—Spot, £231 lis 3d (£230 13s 9d); three months, £232 8s 9d (£231 lis 3d). Silver.—Standard, 26-id (26 5-16 d) per oz.; fine, 28 5-16 d (28 5-16 d).' WHEAT. Wheat.—Cargoes are firm in sympathy with America. Sellers are asking advances of 3d to 6d. There is better inquiry. The Ikala's cargo realised 55s 3d. Parcels are in fair demand, chiefly Australians, at an advance of 3d to 6d. Parcels by the Themistocles, Fordsdale, Ceramic, Antilochus, Berwickshire and by an unnamed vessel, May-June, sold at 54s 6d; by an unnamed vessel on the passage at 54s l£d; by the Medic (bulk), at 545; by the Euripides, at 54s 3d; by the Arendskerk (for the Continent), at 54s 9d. Liverpool futures: May, 10s per cental; July, lis llgd; October, lis 2^d.

NEW ZEALAND APPLES. The Hertford's shipment of New Zealand apples sold as follows: —Cox's, 17s to 20s; Dunns, 10s to 12s. BRADFORD TOPS. The Bradford tops market is very quiet, and actual business is small. Quotations are occasionally weaker. RUBBER INDUSTRY. ANGLO-DUTCH INTERESTS. PRODUCERS IN CONFERENCE.

British Wireless. RUGBY, April 16. Informal conversations took place to-day in London between seven representatives of the Dutch Rubber Producing Committee and seven leading British rubber producers. They discussed the situation created by the removal of the restrictions on the export of rubber from Malaya and Ceylon. It is believed on the rubber market that some kind of arrangement may be reached by means of which the British and Dutch producers will cooperate for the benefit of the industry. DAIRY PRODUCE PRICES. LONDON MARKET VALUES. A. S. Paterson and Company, Ltd., yesterday received the following cablegram from J. and J. Lonsdale and Company,. Ltd., Londonßutter, market quiet, : 166s to 168s. Cheese, market steady, 96s to 975. eDalgety and Company, Ltd., report having received the following cablegram from their London house, dated April 16: — Butter, 2s per cwt. lower (now 164s to 1665).

FROZEN MEAT PRICES.

LONDON MARKET .VALUES. The New Zealand Loan and Mercantilo Agency Company, Limited, has received the following report from its London house, dated April 13: — New Zealand Frozen Meat.—Lamb: B|d per lb. Mutton: Wether and maiden ewe, light, 6fd per lb; heavy, s|d per lb; ewe, light, s{d per lb; heavy, 5d per lb. Markets quiet.

CHICAGO WHEAT MARKET.

ANOTHER FRENZIED SESSION

Australian and N.Z. Press Association. CHICAGO, April 16

There was another frenzied "bull" session on the Chicago Board of Trade today. Ml future deliveries of wheat rose over wo cents to new high levels, on heavy buying by the general public, and on unfavourable news reports. Quotations at closing time were:— May, 1 dollar 56 i cents per bushel; July, 1 dollar 55 7-8 cents; September, 1 dollar 53 cents.

AMERICAN MOTOR-CARS.

USE IN TIIE DOMINIONS.

Australian and N.Z. Press Association. WASHINGTON, April 16,

Commenting on a statement to the effect that American motor-cars aro increasingly being used in British Dominions, Mr. H. Smith, chief of the Automotive Division of the Department of Commerce, says:— The popularity and predominance of American cars in Australia, New Zealand, South America and South Africa is due practically to the service ability of the American car, which has been developed from tests over a quarter of a century, when the roads were mainly unfavourable. For this reason American cars meet the actual conditions in other parts of the world. An official of the National Automobile Chamber of Commerce says the Unitud States has a tremendous domestic market which permits of mass production and economies impossible in countries such as England.

SOUTHERN EXCHANGES. WELLINGTON, Tuesday. The following sales took place on the Stock Exchange to-day : —National Insurance. 15s 9d (two); Bank of Australasia Fractions, 7s 6d; Bank of New Zealand, 60s; New Zealand Guarantee Corporation, 8s 2d; Wellington Investment, 10s 4d; Gear Meat, 37s 6d; Wellington Meat Export, 10s; Wilsons Cement, 38s 2d. CHRISTCHURCH, Tuesday. The following sales took place on the Stock Exchange to-day Commercial Bank of Australia, 28s 4d (two); English, Scottish and Australian Bank, £« 7s 6d; Union Bank of Australia, £l4 14s; Stockton (ord.), 2s 6d; Stockton (pref.), 3s lid (two); New Zealand Guaranteo Corporation, 8s Id (two); Grand Junction, Is 4^d. DUNEDIN, Tuesday. The following sales took place on the Stock Exchange to-davCommercial Bank, 28s 4d; National Insurance, 15s lOd; Union Bank, £l4 14s 6d.