THE LONDON MARKETS

New Zealand Herald, Volume LXX, Issue 21493, 17 May 1933, Page 7

THE LONDON MARKETS

QUOTATIONS FOR METALS SHARP DROP IN TIN (Received Mny 16, 8.15 p.m.) LONDON, May 15 Till prices suffered u severe reverse on the metal market to-day, the decline being nearly £-1 os a ton, compared with last week. Copper was irregular, hut there was a slight appreciation in lead. Quotations to-day compared with May 12 were: —

NEW ZEALAND APPLES SALES IN HAMBURG HAMBURG, May 15 Apples arc in active demand. The Port Gisborne's New Zealand shipment sold as follows: —Cleopatras, 9s lOd to 13s 5d a case; Dunns, 8s fid to lis 4d; Jonathans, 7s 5d to 12s 9d; Delicious, 7s 5d to 9s 6d; Wolseleys (many badly pitted), os lid to 9s 2d. QUOTATIONS FOR WHEAT LONDON AND LIVERPOOL LONDON, May 15 Wheat. —Cargoes: Trading is inactive at 3d down. Parcels are unchanged. Futures. —London: June, 22s 2d a quarter; September, 22s s£d; December, 23s Liverpool: May, 5s Ofld a cental; July, 5s lid; October. 5s 3fd; December, 5s sd. DEALING IN BONDS DIRECTIONS FOR DELIVERY As the Treasury has not yet completed delivery of the new converted issues of Government bonds, dealing in these on the New Zealand Stock Ex-« changes lias been reduced considerably. In the past few weeks the bulk of the business in 4 per cents has been in inscribed stock. An arrangement for facilitating dealing in bonds has now been completed between the Treasury and the exchanges. The Stock Exchange Association has been advised that the Treasury will accept from the original applicant for conversion of bearer securities, in cases where bonds are to bo issued in conversion, a direction that the now securities are to be delivered to a nominee. Directions will be accepted at district Treasury offices, which will communicate with the head office and obtain confirmation. District offices will then be in a position to advise the sharebroker concerned that the bondholder's direction for delivery to the nonninee has been accepted by the Treasury, and will be acted upon. It is claimed that the arrangement will enable dealings in bonds to be carried out in practically the same way as the marking of transfers of inscribed stock. The Treasury states that every endeavour is being made to effect early delivery of bonds, and it is hoped the arrangement will not require to be used for any extensive period.

FOREIGN EXCHANGES STERLING AND DOLLAR (Received May 16, G. 5 p.m.) British Wireless RUGBY, May 15 The following rates on foreign exchanges are current, compared with the cabled quotations on May 13 and par:—

NEW ZEALAND MONEY ABROAD The cost in New Zealand currency of the pound sterling and of the principal foreign units, on the latest quotations, is as follows: —

Those valuations represent the current rates at which banks sell drafts payable on demand. CUSTOMS EXCHANGE RATES Rates of exchange ruling at the announced dates of departure of the vessels named are shown in the following table. They are subject to confirmation by the Customs Department when the exact time of departure is learned 011 arrival of the vessels in New Zealand, finaly declared rates being marked*: — Wirrol, Canndn, dollars .. .. *'1.13 Wirral, America, ck>llurs . . . . *3.43 Canadian. Cruiser, Canada, dollars . 4.14 Cily of Tokio, America, dollars . . 3.4U Hauraki, America, dollars . . . , 3.83 Hauraki, Canada, dollars .. .. 4.in Golden Harvest, America, dollars . . 3.88 Golden Harvest, Canada, dollars . . 4.36 Aornnffi. Alnerica, dollars . . . . *3.45 Aoram'i. Canada, dollars . . . . 4.40 Canadian Challenger, Canada, dollars 4.41 Monterey, America, dollars . . . . 3.89 Monterey, Canada, dollars .. .. 4.31 Melbourne Mara, Japan, yen , . 14 5-1 M Narbada, Calcutta, rupee . . .. 18d j Narbada, Singapore, dollar .. .. 28d Narbada, Samaratig, florins . . . . 0./o MARKET FOR LAMBS CONFIDENCE IN FUTURE Commenting on the London market for New Zealand lambs, the liiink or K e \v Zealand produce circular, dated April 6, states: "There has been a definite improvement in trade while the low values which were ruling a short time ago have created a genuine demand Stocks are still too plentiful to ustifv any spectacular advance but there is a feeling the worst is oyer and +W nrices from now on may improve sunny weather during the pnst tar weeks has undoubtedly helped the lamb Se. Considering the large proportion of heavy lambs it is natural that the rise in price has been most marked in the lightest grades and good small seconds are actually realising more than Jhe heavier primes. Australian lambs are not so much in evidence and have ceased to compete with Isew Zealand, ,

May 15 May 12 Per ton Per ton Copper, stan., spot £ s <1 £ s d 34 7 (5 34 18 '9 Copper, stan., 3 mos. . . 3-1 11 3 31 14 4i "Copper, electrolytic . . 38 15 0 37 15 0 to to 30 15 0 38 15 0 Copper, elect., wire bars ,31) 15 0 38 15 0 Lend, soft, spot 12 8 9 12 8 9 Lead, soft, forward 12 15 0 12 13 9 Spelter, spot 15 8 9 15 10 0 Spelter, forward . . 15 10 0 15 13 9 Tin, stan., spot 183 8 9 187 13 9 Tin. stan., ;) mos. 184 2 6 188 0 3 'American. 7 cents, same as on May 12.

May 15 May 13 Par Montreal, dol. .. 4.52 4.52 4.866 New York, dol. . 3.951 3.965 4.866 Paris, fr. 861 85 J 124.21 Brussels, belga . 24.34 24.295 35.00 Geneva, fr. 17.555 17.535 25.22 Amsterdam, fl. . 8.42 8.43 12.10 Milar. lire 65.25 65 1-16 92.4(1 Berlin, r.m. 14.05 14.425 20.43 Stockholm, kr. .. 19.45 19 15-32 18.159 Copenhagen, kr. . 22 7-1G 22.425 18.159 Oslo. kr. 19.70 19 11-16 18.159 Vienna, sch. 31.50+ 31.50+ 34.585 Prague, kr. 1131 113.50 164.25 Helsinsfors, mark 226.50 226.50 129.23 Madrid, pes. 398 39 9-16 25.221 Lisbon, escu. 110 110 110 Athens:, dr. _ .. 587.50 5S7.50 375.00 Bucharest, lei. .. 572.50 570 813.6 !Rio de Janeiro, mil 4-:+ 4«t 5.899d Buenos Aires, dol. 42 41.75 47.019d Montevideo, dol. 34+ 34+ 51d Bombay, rupee . 38 3-32d 18 3-32d 18d 'Shanghai, tael . 14 7-lGd lGd — Hongkong, dol. . 16 7-16d 16 9-lGd 24.58d Yokohama, yen . 14 id 14|d Batnvia, fl. 8.45 — 12.10 Belgrade, din. .. 250 — 276.31 *Pence to American dollar.

pfjpf >SKE!XSjl gflfl Zj