THE LONDON MARKETS.

New Zealand Herald, Volume LXVI, Issue 20306, 13 July 1929, Page 7

THE LONDON MARKETS.

BANK OF ENGLAND RETURNS.

COMPARISONS WITH LAST WEEK. Australian Press Association—Dinted Service (Eoceived July 12, 5.5 p.m.) LONDON. July 11. The Bank of England returns for the week ended July 11, as compared with those for the week ended July 4, are as follows: —

July 11. July 4. £ £ Note circulation .. 414,494,000 415,524,000 Coin . . - • 159,833.000 159,364.000 Reserve . . . . 4G,871,000 40,005,000

Govt, deposits . . 9.230,000 28,296.000 Other deposits .. 102,527,000 112.656.000 Govt, securities . 4R.2512.000 37.23J.000 Other securities . . 33,649,000 75,278,000 Proportion of reserve to liabilities . . 41.90 33.00 SHORT LOANS AND BILLS. Short loams, 4£ per cent., compared with 4J per cent, last week; three months' bills, 5 11-32 per cent., same aB last week CONSOLS AND COLONIAL STOCKS. The following table gives quotations for consols and colonial inscribed slocks, compared with those of July 4:— V ariaPrice, tion. i. r d s d Consols. 2J per cent. . . 54 17 6 7 61 Funding Loan, 4, 1900-90 86 17 6 12 Bt War Loan. 5. 1929-47 . 101 5 0 10 Ot Conversion Loan, Si .. 7(1 0 0 Same. Victojy Bonds. 4 . . «1 17 C. 7 CI Com'wealth, 64. 1922-27 96 7 6 7 6* Com'wealth, 6. 1931-41 . 101 8 9 13" Victorian, 3, 1929-49 .. 70 7 6 26* Victorian, 81, 1929-49 . . 76 3 9 3 9 s Victorian, 54, 1930-40 . 100 5 0 5 Ot Victorian 5. 1932-42 . . 90 10 0 5 0* Victorian. 45, 1940-60 .. 91 10 0 10 0* N.S.W., 4, 1933 . ..93 fr 0 76* N.S.W., 3. 1935 . . . . 75 1 3 1 3t N.S.W., 31, 1930-50 . 86 2 6 Same. N.S.W., si. 1922-32 .. 99 15 0 5 0" N.S.W.. FJ. 1930-40 . . 100 1 3 N.S.W., 6, 1930-190 . . 100 5 0 IB* Queensland. B*. 1930 . . 93 0 0 2 61 Queensland, 3. 1922-47 . 71 10 0 Same. Queensland. 6, 1930-40 . 99 16 3 3 9" New Zealand, 4, 1929 . . 99 17 G 2 6t New Zealand. SJ. 1940 . 8(i 5 0 5 04 New Zealand. 3, 1945 . . 73 0 0 2 6t New Zealand. 6, IS3O-51 . 103 12 6 S. Australia, BJ, 1939 . . 83 10 0 S. Aus., 3, *l6 or after 53 S 0 5 0) S. Australia. 64. 1930-40 100 2 6 2 61 Tasmania, 34, 1920-40 83 7 f, 10 0* Tasmania, 3, 1920-40 . . 80 10 0 10 0+ Tasmania, 61, 1930-40 . 100 3 9 13* W. Australia, 3>, 1929-35 89 0 n Snme. W. Australia, 3, 1915-35 87 0 0 Same. W. Australia. 6, 193C-40 100 2 6 5 Ot •(Higher. "Lower. WHEAT, FLOUR, PULSE, ETC. Wheat.—Cargoes are firm, and buyers reserved. Quotations are unchanged to 3d higher. Parcels are in poor inquiry at an advance of 3d to 6d. Futures: London, July delivery, 48s lOd per bushel; August, * 48s 9id; October, 48s B£d; November, 48s lid. Liverpool: July, 8s 10§d; October, 9s 3d; December, 9s 6d. The spot trade is quiet and firm. Australian ex ship, 48s 6d.

Flour.—Steady. Australian ex store, 345.

Oats.—Firm, 24s to 255; A grade Gartons, 27s to 28s. Peas.—Blue, dull; New Zealand, 280s to ?00s. Maples.—New Zealand, 60s to 655. Beans. —New Zealand, 50s to 52s 6d. Beet Sugar.—August, 8s 6 3-Bd. THE PRICE OF GOLD. Gold is quoted, at 84s 10£ d per oz. BRADFORD TOPS. The market is showing a lack of confidence and quotations are uncertain. 64's are quoted at 3s 2d a lb.; 60's, 3s; 56's, 2s 6d; 50'5, 2s 2d; 46's, Is lOd; 40s*, Is 9id. LEAD MARKET. The imports of lead were 19,319 tons, and exports 2419 tons. THE METAL MARKETS. (Quotations on July 8 in parentheses.) Copper.—Spot, £7l 14s 4£d (£72 9s 4£d); three months, £72 9s 4id (£73 Is 3d.). Electrolytic Copper.—Spot, £B4 (£84); three months, £B4 10s (£B4 10s). Wire-Bars.—Snot, £B4 10s (£B4 10s). Lead.—Spot, £22 15s (£22 16s lOJrd); three months, £22 16s 10£ d (£22 17s 6d). Spelter.—Spot. £25 10s (£25 10s); three months, £25 15s (£25 8s 9d). Tin.—Spot, £2OB 3s 9d (£204 lis 3d); three months, £2ll 2s 6d (£207 13s 9d). Silver.—Standard, 24 3-16 d (24 3-16 d) per oz.; fine, 26 l-8d (26 l-8d). FOREIGN EXCHANGES. (Received July 12, 7.15 p.m.) Eritish Wireless. RUGBY, July 11. The following rates on foreign exchanges are current to-day, compared with the cabled quotations on July 4 and par:— July 11. July 4. Par. Montreal, dol. .. 4.85 S-32 4.89 4.866 New York, dol. . 4.85 3-32 4.84 29-32 4.860 Paris, fr 123.925 123.975 124.21 Brussels, belga .. 34.91 34.925 35.00 Geneva, fr. .. 25.225 25.21 25.22 Amsterdam, fl. .. 12.075 12.07* 12.10 Rome, lire .. 92.745 92.675 92.46 Berlin, r.m. .. 20.305 20.355 20.43 Stockholm, tr. .. 18.095 18.09 18.159 Oslo, kr 18.205 18.20 18.159 Copenhagen, kr. . . 18.125 18.21 18.159 Vienna, ech. .. 34.495 34.49 34.584 Prague, kr. .. 164 1635 24.02 Helsingfors. mark 1925 1922 '192.23 Madrid, pes. .. 33.505 33.62? 25.22} Lisbon, escn. .. 1081 1031-8 Athens, dr. .. 375 375 375.00 Bucharest, lei. .. 819 817 25.221 Rio de Janeiro, mil. 5 7-8 6 7-8 Buenos Aires, dol . 47i 4/J 47.5<d Calcutta, rupee 17 25-32 17 25-32 -6d Shanghai, tael 28 2b - Hongkong, dollar . 23} 231 - Yokohama, yen .. 22} 2181-32 24.583 Batavia, fl. •• ~ 1 " J0 PRODUCE IN DUNEDIN. QUIETNESS m WHEAT MARKET. [BT TELEGUAPH.—OWN COREESTONDENT. ] DUNEDIN, Friday. The quietness in the wheat market continues. Quotations remain unchanged at 5s 9d, sacks extra, on trucks, country sidings, for Tuscan, 6s for Hunters and 6s 6d for Velvet. There ii. however, vory little Velvet left in the stores. The fowl wheat market continues quiet in sympathy with the milling wheat market. Occasional sales are going through at 5s lOd, sacks extra, ex store Dunedin, but buyers are only operating on a hand to mouth basis. The quantity hold in the Dunedin stores is not heavy, and all of it should be required for local use. There is not much life in ■ the oats market, and quotations coming in show further reduction. Whatever supplies are available arc being sold in small lots to millers or for feed purposes. A's are at present quoted at 3s 4£d f.o.b. s.i., with B's at 3s 3d. These prices are equivalent to 2s lid on trucks, country sidings, and 2s 7£d respectively. It is noticoable that the demand for seed oats is on the quiet side. It looks as if farmers will not bow down the same area as last year, as they are realising that, with the small outlet for oats, they could more profitably direct their attention to other brandies of farming. The.chaff market is firm Supplies are on the short side, and up to £6 per ton, sacks extra, ex store, can be obtained for the best quality. The present shipping quotation is £6 ss, f.0.b., s.i., Canterbury ports. The potato market has improved in Canterbury during the week, and there is a resultant firmness in the local market.

Until the spring demand commences it is expected that business in seeds will be quiet. Stocks of most caeds are on the short side, but prices remain unaltered.

CHICAGO WHEAT MARKET.

Australian and N.Z. Prase Association. CHICAGO, Jnly 11.

Wheat,.—July, 1 dollar 22 cents a bushel; September, 1 dollar 26J cents; December, 1 dollar 33f cents.