THE LONDON MARKETS.

New Zealand Herald, Volume LXVII, Issue 20496, 22 February 1930, Page 7

THE LONDON MARKETS.

PRICES FOR METALS, v

1 (Received February 21. 3*o p.mj LOXDOST, Feb. 28. (Quotations on Feb. 17 in. parentheses.7 Copper.—Spot, £69 IBs 9d {£69 I2s6d); tnree months, £6B 16s lQyi (£67 18s 9d|V Electrolytic Copper.—Spot, £B3 10s (£BS 10s); three months, £B4 5s (£B4, - ss). Wire Bars.—£B4 5s (£B4 ss). Lead..—Spot, £2O 13s 9d (£2l 13s 3d); three months, £2O lis 3d (£2l lis 3d). Spelter.—Spot. £lB 173 6d (£l9 73 6ci) ; three months, £l9 10s (£l9 17s 6tJJi Tin.—Spot, £174 17s 6d (£174 6s 3d); three months, £177 15s 7jd (£177 7s 6"d). Silver.—Standard, 19 13-i6d (20 5-16 d} per oz; fine, 21|d (21 13-16 d). BRADFORD TOPS. The market for Merinos and low crossbreds is quiet, with limited inquiry far . fine crossbreds. 64's are quoted at 2s per lb.; 60's, 2s 3d; 56's, Is 9d; 50's, Is 6d; 46's, Is 3jd; 40's, Is 3d. WHEAT, FLOUR, PULSE, ETC. Wheat.—CaTgoes are depressed bv the farther weakness in America., an 3 declined by from 9d to Is. Business is spasmodic. A contribntory factor in ifcfte drop in prices was a fnrther reduction in South American freights, and the accumulation of idle shipping in. home ports. By unnamed cargo- vessel from - ' Western Australia for Calcutta, MarchApril, 40s ljd, on Indian terms. By Parracombe, bound for Naples, 40s .6d, on United Kingdom terms. Parcels -are weak" at 6d to Is down. Ez City o£ Demi, 40s. Futures: London, March, 3fis; May, i6s sd; Liverpool, March, 7s 8 l-8d per cental; May, 8s O^jd; July, 8s 3Jd, net cash. The spot trade is slow. Australian ex ship, 43s 6d. Flour.—Dull; Australian ex store, 33g 6d. Oats and beans.—Steady. Peas.—Quiet. Beet Sugar.—March, 6s 3Jd.

FROZEN MEAT PRICES. FIRMNESS OF LONDON MARKET.' Dalgety and Company, Limited, report having received the following cablegram from their London house, dated February' . 20, regarding- the frozen meat market:— New Zealand Lamb.—Prime. North. Island, 281b. to 361b., Had; 551b. to 421b., Iljd; second quality, 9?d; 421b. ■' to 501b., The market is very firm and the demand is active. New Zealand Mntton.—Prims Norths Island, 481b. to 561b., lid; 641b. to 721b., 6fd; 481b. to 641b., The market is very firm and the demand continues. Australian Lamb.—Good average Quality, 281b. to 361b., 9 5-8 d; 561b.. to 421b. r 9 5-3 d; fair average quality, 281b.. to 361b., 8d; third quality, 7jd. The market . is firm and the demand is active-. Australian Mutton.—Good average quality, 401b. to 601b., 6d; fair average"-" quality, 301b. to 551b., sid? ewes, 50. . The market is firm and the demand is better. Beef.—New Zealand prime ox, hinds, 7d; fores, sjd; Argentine, chilled, hinds, 7Jrd; fares, sjd. The market for New" Zealand beef is very firm and the de—' - man a is active. Pork.—English pork, 801b. to ICX3IK, 12d; New Zealand porkers, 801b. to 1001b., lid; 1001b. to ISCEb., 10xd. The market for New Zealand pork is very firm. The demand is better owing to cold weather.

POWER SUPPLY PROBLEM. NORTH OTAGO DISTRICT. TRANSMISSION OVER. RIVER. ■ i - .if '-W'.' "V& [BY THLEGBAP3L —ESES3 ASSOCIATION". J 6 /• O AMABXF, Friday. The problem of obtaining from. Coleridge an uninterrupted supply of electric power across the Waitaki. Hirer a stated to be under consideration by tfca ' . £ department in Wellington. The recent : - shortage of power in North. Gtago owing to the transmission tower being swept '; away has aroused the authorities to the \ necessity of taking steps toward, permanent '*j ,'i repiiirs, as with the completion of thsWax- % tabi hydro-electric scheme and the Silking up of other supply stations, the possi- . , ~f bilifcy of a breakage in the across the river would result in consequences.

It is stated that there is perhaps no • river in New Zealand that changes: its' coarse so much as the WaitaM when, in high flood. Daring the last flood . the . main stream happened to strike the centre of the tower, but it conM just as easily._.j have swept away the south tower,: which _ " is located on an island of sand and silt six or seven yards from tie water's edge. At present the main stream is not running toward the south tower, hut it might j easily do so in the next flood, and then ; the south tower would certainly be swept away.

It is said that the only real security for a supply of current without long: interruptions would be to sink cylinders to - carry the wires, and to provide groins to divert the -water from the transmission towers.