THE LONDON MARKETS

New Zealand Herald, Volume LXX, Issue 21561, 4 August 1933, Page 5

THE LONDON MARKETS

QUOTATIONS FOR METALS TIN AND COPPER FIRMER (Received August 3. 7.55 p.m.> LONDON. Aug. 2 Following are to-day's quotations on the London metal "market, compared with those of August 1: Aug 2 Aug. 1 Per ton Per ton £ed £ s d Copper, stan., spot . . 36 9 4 1 / ? 35 18 9 Copper, stan., 3 mos. 36 13 l/ a 3t> 1 10/ a Copper, electrolytic .4110 0 41 0 42 0 0 Copper, elect, wire bars It 10 0 42 0 0 Lead, soft, spot 12 8 9 12 8 0 Lead, soft, forward . 12 13 9 12 10 0 Spelter, spot . . . . IS 13 9 16 11 . Spelter, forward . . 17 0 0 16 16 3 Tin, stall., spot . . 214 _G 3 212 10 U Tin, stan., 3 mos. . . 214 13 9 -13 0 0 WALL STREET RULES COMMITTEE'S DECISIONS (Received August 3, 5.5 p.m.) NEW YORK, Aug. 2 The governing committee of the New York Stock Exchange has promulgated new rules fixing the minimum marginal requirements and ordering members to file weekly reports of pools and joint accounts; also prohibiting solicitation of business in customers' homes. AUSTRALIAN WOOL COMPLAINTS FROM JAPAN Complaints that much Australian wool on arrival at the works has been found untrue to, label have been made in Japan. The Australian Mercantile Land and Finance Company states that the term "false packed" had been Used by the Japanese, and that was open to a sinister interpretation, which doubtless was not intended. "If tho desire of the buyers is to impress upon growers tho desirability of taking more pains in the preparation of their clips, wool brokers are in agreement," states the company. "In trade circles tho belief persists that tho Japanese section has indulged in the practice of buying outside of auction channels to a greater extent than any other group of buyers. If this is so, much of the cause giving rise to the reported complaint rests with tho purchasers themselves. A good deal of the wool which passes through brokers' stores is reclassed, with the approval of the owner on the recommendation of the brokers, who, on inspection, have found the fleece more particularly to bo too- irregular in quality, length and so on to sell satisfactorily as "originally packed. In this way, brokers protect the interests Of both sides of the trade and help to cultivate a good name for the brand. Until specific particulars of the purchases which have been the source of complaint are made available responsibility cannot be fixed." LONDON TALLOW SALES LONDON, Aug. 2 At the London tallow sales to-day 7G9 casks were offered and 234 were sold. Values were unchanged. Quotations are: Mutton, fine, 24b 9d per cwt.: medium, 20s Gd; beef, fine, 235; medium, 20s. The Bank of New Zealand has received the following advice from its London office dated August 2-Tallow: There is a fair demand. Current quotations: Good mutton, 24h per cwt.; good beef. 225; good mixed, 225; gut, 17s 6d to 20s. TIN STATISTICS LONDON, Aug. 3 The statistical position of tin at the end of July, compared with May and June, \(an as follows: May June July Tons Tons Tons Visible supplies . 41.02!) 39,23!) 37,436 Straits carry-over 7,103 6,072 0.906 Supplies .. .. 6.6154 7,267 8.242 Deliveries . . . 7,407 9,271 10,005