THE LONDON MARKETS.

New Zealand Herald, Volume LXV, Issue 19962, 2 June 1928, Page 9

THE LONDON MARKETS.

BANK OF ENGLAND RETURNS. COMPARISONS WITH LAST WEEK. Australian Press Association—United Service (Received Juno X, 5.5 p.m.) LONDON, May 31. The Bank of England returns for the week ended May 31, as compared with those for the week ended May 24, are as follows:

SHORT LOANS AND BILLS. Short loans, per cent., same as las;t week; three months' hills, 3 29-32 per cent., compared with 4 1-32 per cent, last week. CONSOLS AND COLONIAL STOCKS. The following table gives quotations for consols and colonial inscribed stocks, compared with those of May 24:

THE METAL MARKETS. (Quotations on May 28 in parentheses.) Copper.-—Spot, £64 Os (£64 Os 7^d); three months, £64 Os (£64 Is 10£ d). Electrolytic Copper.—Spot, £6B 10s (£6B ,10s); three months, £69 (£69). > Wire Bars.—Spot, £69 (£69); three months, £69 (£6B ss). Lead.—Spot, £2l 6s 3d (£2O 17s 6d); three months, £2l lis 3s (£2l ss). Spelter.—Spot, £26 (£25 17s 6d); three months, £25 15s (£25 12s 6d). Tin.—Spot, £227 16s 3d (£229 16s 3d); three months, £227 7s 6d (£229 7s 6d). Silver.—Standard, 27 11-16 d (28 9-16 d) i per oz; fine, 29|d (32 13-16 d). BRADFORD TOPS. The market is quiet, with less inquiry. 64's are quoted at 4s 6d per lb.; other j sorts are unchanged. P. AND 0. SHARES. P. and 0. deferred stock is quoted at £243. WHEAT, FLOUR AND PULSE. Wheat.—Cargoes continue idle and have dropped 6d to 9d. Parcels are in fair request at a decline of 3d to 6d. By an unnamed vessel at Manchester, 54s 6d. Liverpool futures: July, 10s 7|d per cental; October, 10s lOjd ; December, ■ 10s 10 7-Bd. Spot trade dull. Prices weaker. Australian, from ship, 57s 7d. Flour.—Tending to easier. Australian, ex store, 38s to 38s 6d. Oats.—Slow. Peas and Beans.—Steady. LONDON TALLOW MARKET. Dalgety and Co., Ltd., report having received the following cablegram from their London house, dated. May 31: —Tallow : Prices nominally unchanged. No sale was held to-day. The next public sale will take place on June 13. MELBOURNE PRODUCE. * MELBOURNE, June 1. !' The following are to-day's quotations on the Melbourne produce market:— Wheat.—Nominal, 5s 7£d. Flour.—£l3 2s 6d to £l3 7s 6d. Bran.—Quiet at £6 15s. Pollard.—£B 10s. Barley.—English malting, 5s 4d to 5s 6d; Cape, 4s. Chaff.— £5 15s to £6 ss. Potatoes.—Slow at £2 15s to £8 10s. Onions; —To £ll 10s. Butter. —Firm at Is 6Ad. Cheese. —Steady at IOAd. PRODUCE IN OTAGO. [ur TKLEC.RArH.-rn.ESS ASSOCIATION.] DUNEDIN, Friday. Millers in the Otago district have not been keen to operate for wheat and it is now difficult to make sales at tlie rates which have ruled, namely, 5s 8d a bushel for Tuscan and 6s for Hunters. There is a decline in fowl wheat for shipment. Local fowl wheat is plentiful and the quotation is 5s 9d, sacks extra, ex store, for best, quality. The weakening of the oafs market is more pronounced and values have dropped 2d a bushel. Present values are:—A Gartons, 3s 4d a bushel, sacks extra, country sidings; B grade,.3s. Best quality chaff is worth 5s 5d to 5s lOd, sacks extra, ex truck, and medium and poor are hard to sell. The potato market is quiet and there are few sales. The current quotation is £5 5s per ton, sacks included, ex truck, with occasional sales at £5 10s. SOUTHERN EXCHANGES. [BY TELEGRAPH. —PRESS ASSOCIATION.]. WELLINGTON, Friday. The following sales took place on the Stock Exchange to-day:—Bank of New Zealand, 60s 3d (three); New Zealand Government Bonds, 4£ per cent., 1939, £9B; Goldsbrough, Mort, 51s 9d; Auckland Gas, 2.3s 8d; Taranaki Oil, 10s 9d, lis 3d; Sharland and Co., 19s 9d. CHRISTCHUIICH. Friday. The following exchanges took place on the Stock Exchange to-day:—Bank of Adelaide, £9 lis; Australian Bank of Commerce, 35s 8d ; Commercial Bank of Australia, 29s 7d, 29s £kl; Engltsh, Scottish, and Australian Bank, £8 9s 9d; National Bank of Australasia (£lO paid), £lB 2s 6d; Bank of New South Wales, £4B lis; Union Bank, £l4 18s; Goldsbrough, Mort (cum div.), 51s 6d, 51s 3d ; Tooths Brewery, 43s 6d; Taranaki Oil, 9s 3d, 9s; New Zealand Government Inscribed Stock, 5 per cent., 1929, £99; Electro Zinc (ord.), 31s. DUNEDIN, Friday. The following sales took place on the Stock Exchange to-day -—Union Steam (pref., cum div.), 20s 6d; Waihi Grand Junction, Is 3d.

Noto circulation May 31. May 24. 135,985,000 145,064,000 Coin 162,902,000 160,278,000 .Reserve 46,3(57,000 46,873,000 Government deposits 22,284,000 13,095,000 Other deposits 89,568,000 100,518,000 Govt, securities 28,907,000 29,582.000 Other securities 53.9S4.000 44.924,000 Proportion of reserve to liabilities 41.70 41.20

VariaPrice. tion. £ s. d. b. d. Consols, 2i per cent. . , 56 15 0 Same. British 5 War Loan . . 101 10 0 7 6* Conversion Loan 31 78 o (:i 7 61 Com'wealth, 51, 1922-27 . 101 0 0 2 6+ Com'wealth, 6, 1931-41 , . 102 13 9 1 3* Victorian, 3, 1929-19 72 7 6 5 0* Victorian, 31, 1929 49 77 10 0 Same. Victorian 51, 1930-4G 100 12 6 5 01 Victorian, 5, 1932-42 98 0 0 Same. Victorian 4j, 1940-00 95 15 0 Same. N.S.W.. 4. 1933 . . 94 ■0 0 Same. N.S.W. 3. 1935 76 10 0 5 01 N.S.W., 31, 1930-50 85 6 3 1 3* N.S.W.. 5J, 1922-32 100 3 9 1 31 N.S.W., 6§. 1930-40 102 17 r. 2 6t N.S.W. 6.® 1930-40 ! . 100 10 0 2 6* Queensland, 3i, 1930 . . 96 13 9 1 3t Queensland, 3. 1922-47 . . 71 10 0 5 0* Queensland, 6, 1930-40 , 102 0 0 2 fit New Zealand, 4, 1929 . . 98 17 6 2 61 New Zealand, 31, 1940 . . 88 5 0 Same. New Zealand. 3, 1945 . . 78 15 0 2 6* New Zealand, G, 193G-51 108 11 3 3 91 S. Australia. 31. 1939 . . 85 12 f, 1 31 S. Aus.. 3. 193G or afler 61 7 6 5 0* S. Australia. 6}. 1930-40 . 102 12 6 2 61 Tasmania, 31. 1920-40 . . 85 15 0 5 01 Tasmania. 3. 1920-10 81 10 0 10 0* 1 Higher. 'Lower.

FOREIGN EXCHANGES. The following rates on foreign exchanges are current to-day, as compared with the cabled quotations 011 May 29 and par:— May 31. May 29. Par. Brussels, belga . . 34.9S 34.89 5.045 Paris. fr. . . 124.02 124.02 25.225 Stockholm, kr. . . IB.20 18.20 18.159 Oslo. kr. . . 18.23 18.23 18.159 Copenhagen, kr. . 18.19 18.20 18.159 Berlin, r.m. . . 20.40 20.39 20.43 Borne, lire . . 92.65 92.(16 25.225 Prague, kr. . . 1 (>43 164} 24.02 Calcutta, pence . . 18 18 24 Yokohama, pence 22 15-16 22 15-16 241Hongkong, peace 24 13-16 255 — Montreal, dol. . . 4.S9J 4.885 4:866 New York, dol. 4.88 11-32 4.883 4.860 Amsterdam, fl. . . 12.09" 12.09C 1 12.10 Batavia, fl. . . 12.125 12.123 12.10