THE LONDON MARKETS.

New Zealand Herald, Volume LXVI, Issue 20244, 2 May 1929, Page 11

THE LONDON MARKETS.

WHEAT,;

Australian Press Association—United Service LONDON. April 30.

Wheat. —Cargoes are steadier but inactive, and closed 3d to 6d lower. Parcels made a similar decline. Liverpool futures: May» 8s per cental; July, 8s 7£d; October, 9s 0 l-Bd.

THE PRICE OF GOLD. Gold is quoted to-day at 84s lOfd per oz. LONDON STOCK EXCHANGE. The following are among to-day's quotations on the Stock Exchange:—Bank of Australasia, £l4 8s 9d; Bank of New South Wales, £49 ss; Union Bank, £ls 0s 7£d; National Bank of Now Zealand, £7 4s 4|d; Bank of New Zealand, 4 per cent, stocky £92 15s; Bank of New Zealand, shares (ex div.)* 59s 9d; New Zealand Loan and Mercantile Agency Company, Limited (debentures), £74 10s; ordinary stock, £l3l.

FOREIGN EXCHANGES. (Received May 1, 5.5 p.m.) British Wireless. RUGBY, April 30,

The following rates on foreign exchanges are current to-day, compared with the cabled quotations on April 25 and par:— April 30. April 25. Par. Montreal, do], :. 4.89}

FLAX GRADING RETURNS.

LOWER QUALITY JN APRIL.

EFFECT OF THE WEATHER.

The unfavourable weather conditions fining April were responsible for a very considerable decrease in the amount of * good quality flax and hemp which passed through tho hands of the Government flax grader in Auckland. Tho quantity of high fair hemp was only one-third of that for March, while there was a considerably larger amount of inferior quality. Tho figures compare favourably with those for April, 1928. The figures for the month are as follows, those for April, 1928, being given in parentheses: — Hemp.—Good fair, 177 bales (5); high fair, 495 (451); 'low fair, 797 (943); common, 204 (153); rejected, 31 (41). Total, 1704 bales (1593). Tow.—No. 1, 57 bales ( —); No. 2, 285 (305): No. 3, 197 (154); condemned, 29 (24). Total, 568 (483). Stripper Tow.—No. 2, 17 bales (—); No. 3, 8 bales (—); condemned, 2, (—). Total, 27 bales (—). Stripper Slips.—No. 3, 3 bales (6); condemned, —. (1)- Total, 7 bales (3). MORTGAGE AND BUILDING CO. OPERATIONS IN WELLINGTON. [by telegraph.—-own correspondent.] WELLINGTON, Wednesday. The annual meeting of the Wellington Deposit, Mortgage and Building Association, Limited, was held to-day, Mr. W. H. P. Barber, chairman of directors, presiding. _ Tho chairman said the balance-sheet showed increases in both deposits and investments, the latter being the more marked at £3246 over the previous year. The last* of tho deposits, which were previously held subject to Government regulation, had been uplifted. Special deposits on the assets side were lower this year, but the reduction was more than set off by the increase in mortgages. "The net profit for . the year is £2239 3s sd, compared with £2351 0s lid for tho previous- year," said the chairman. "Tho decrease in net profit of £lll 17s 6d is wholly accounted for by reduced returns from our Panama Chambers rentals, due to the competition from a number of large new buildings recently erected having vast numbers of offices ,to let. It would appear that the business community has been unable to absorb the great addition to office premises, together with thoso already existing, indicating that the building of business premises is in excess of present requirements. "However, tho result of tho last 12 months' operations enables us to recommend the payment of a dividend of 7 per cent, for the year, of which 3 per cent, was paid last November, transfer £450 to tho reserve account, which will then stand at £6OOO, and carry forward £915 9s 7d." The report and balance-sheet were adopted. KAURI GUM SUPPLIES. INCREASE FOR LAST MONTH. A considerable increase is recorded in tho quantity of kauri gum received into storo by Auckland merchants during April, compared with the figures for March. A total of 339 tons, mainly of inferior quality, was received, compared with 240 in March, and 275 in February last. The figure for April of 1928 was 295 tons. Moderate business is reported by brokers during tho past month. Tho quantity of gum received into store during the first four months of tho last three years is as follows: 1927. 1928. 1929. January . . 2G5 278 1 290 February .. 198 307 275 March .... 441 411 240 April • . »a 317 295 339 Totals 1,221 1,291 1,144 SOUTHERN EXCHANGES. [BY TELEGIUPH.—'PRESS ASSOCIATION.] WELLINGTON, Wednesday. Tho following sales took place on the Stock Exchange to-day:—New Zealand Guarantee Corporation, 8s 9d; British Tobacco, 47s 9d; New Zealand Government Bonds, 4j per cent., 1938, £IOO (two); Banu of New Zealand, 625.

CHRISTCHURCH. Wednesday. The following Stock Exchange sales took place t.o-d;iy:—Commercial Bank of Australia, 30s 3d (two parcels), 30s 2d (six parcels); Goldsbrough, Mort, 53s Bd(two parcels) ; Westpcwt Coal, 32s lOd; Westport-Stockton (ord.), 3s; Tooth's Breweries, 60s 3d, 60s 6d; Mount Lyeli, 44s 6d, 44s sd, 44s 6d (two parcels); New Zealand Drug Company, 74s sd; Mahakipawa, Is 2£d (three parcels); Whitcombe and Tombs, 81s 6d; Staples Brewci-y, 465; Government 4Jj per cent. Bonds, 1938. £100; National Mortgage, 85s 6d. DUNEDIN, Wednesday. Tho following sales were made on tho Stock Exchange to-day:—Bank of New South Wales, £sl 15s; Westport Coal, 32s 9d; Now Zealand Refrigerating (paid), 15s 6d; Wailii (cum div.), 14s Id.

New York, dol. .. 4.85 5-16 4.85 11-32 4.866 Paris, fr. .. ., , 124.15.1 124.171 124.21 Brussels, belga. .. 34.94 34.94 35.00 Geneva, fr. Amsterdam, fl. .. 25.19* 25.21 25.22 12.07$ 12.08 12.10 Homo lire 92.141 92.621 92.46 Berlin, r.m. 20.461 20.46 20.43 Stockholm, kr. . 18.16} 18.161 18.159 Oslo,, kr 18.19 18.191 18.159 Copenhagen, kr. .. 18.19 18.20} 18.159 Vienna, sch. 34.55} 34.55 34.58} Prague, kr. ., Hclsingfors, mark 164 164 24.02 193 193 192.23 Madrid, pes. 33.801 34.54} 25.221 Lisbon, esca. 108 1-8 108 1-8 Athens, dr. 375 375 375.00 Bucharest, lei. .. 818 818 25.221 Rio do Janeiro, m. 5 57-04 5 57-64 Buenos Aires, dol . 47 5-16 47 5-16 47.57d Calcutta; rupee .. 17 29-32 17 29-32 18d Shanghai, tael .. 29 7-8 29! Hongkong, dol. .. 23 7-8 23} — Yokohama, yea .. 22 7-32 22 5-32 24.58d Batavia, fl. 12.12 12.131 12.10