COMMERCIAL.

Otago Daily Times, Issue 19760, 10 April 1926, Page 10

COMMERCIAL.

LONDON METAL MARKET. (Press Association—B? Telegraph—Copyright.) LONDON, April 8. (Received April 9, at 11.30 p.m.) Copper: Spot, £57 Is 3d; forward, £57 ISs 9d. Lead: Spot, £29 ss; forward, £29 17s 6d. Spelter: Spot, £32 Cs 3d; forward, £32 16s 9d. Tin: Spot, £279 ss; forward, £274 17s 6d. Silver: Standard, 30 l-16d; fine, 32 7-16 d per oz.—A. and N.Z. Cable. MELBOURNE MARKETS. (Press Association—By Telegraph—Copyright.) MELBOURNE, April 8. Wheat is firm. Parcels, 6s 2sd. Oats: Milling, 2s 10?,d; feed, 3s 4d to 3s 6d. Barley: English, to 4s 6d; Cape, 3s 9d'to 4s. Potatoes, £l3 to £l4. Onions, £l9 to £2O. Hides; The market was generally maintained, excepting that kips sold in buyers’ favour. SHARES AND GOLD. (Press Association—By Telegraph—Copyright.) LONDON, April 8. Banks: Australian, £l3 Us 3d; New South Wales, £42 17s 6d; Union of Australia, £l4 12s 6d; National of Australasia, 755; National of New Zealand, 163 s 3d; New Zealand, £93 (4 per cents), shares 595. New Zealand Loan and Mercantile debentures, £7l 30s; stocks, £35 P. and 0., £228. Fine gold is quoted at £4 4s HJd per oz.— A. and N.Z. Cable. LONDON MARKETS. (Press Association—By Telegraph —Copyright.) LONDON, April 8 (Received April 9, at 5.5 p.m.) Wheat cargoes firmed 3d to 6d, especially near at hands on better inquiry and rumours of a reduction in the Argentina estimate. Parcels are in strong request. Australians sold at 3d to Gd advance; prices, 57s to 57s 6d. Liverpool futures: May 11s 3|d, July Ils 2d, October 10s 7d per cental. The spot trade is firm. Australian, ex ship, 59s 6d. Flour is quiet. Australian, 42s 9d, ex store. Oats are firmer. Beans and peas are quiet. Sugar: Granulated, 28s lOld per cwt. — A. and N.Z. Cable. BRADFORD TOPS MARKET. (Press Association—By Telegraph—Copyright.) LONDON, April 8. (Received April 9, at 5.5 p.m.) The Bradford tepg market is firm for merinos. Crossbreds are slightly weaker, with very little business. Sixty-fours, 48s; sixties, 14Jd; fifty-sixes, 33d; fifties, 2osc!; forty-sixes, 21 Id • forties, 21d.—A. and N.Z. Cable. ~ DAIRY PRODUCE PRICES. Press Association—By telegraph—Copyright LONDON, April 8. (Received April 9, at $.5 p.m.) Butter is quietly steady. New Zealand choicest salted 173 s to 1745, unsalted 174 s to 1755; Australian salted 170 s to 1725, unsalted 172 s to 1745; Danish, 184 s. Cheese is quiet. New Zealand white 9Gs to 975, coloured 97s to 98s; Australian, 93s to 95s.—A. and N.Z. Cable. CHICAGO WHEAT MARKET. (Press Association—By Telegraph—Copyright.) NEW IORK, April 8. (Received April 9, at 5.5 p.m.) Chicago wheat: May, new 159 J cents per bushel, old 158(1; July, 137 i; September, 132 g.—A..—A. and N.Z. Cable. CANTERBURY MARKETS. (Peb United Press Associate ;.) CHRISTCHURCH, April 9. Though the Australian market continues very firm there is little inquirv from that quarter. A very fair quantity has been bought for May-June shipment, and a vessel is due to leave Lyttelton direct about April 19 with early consignments. Traders are not sanguine of the keeping character of tubers shipped this month, and at the moment all parties are disposed to go slow Values on trucks at Canterbury stations range from £5 10s to £5 15s a ton Onions have made a further jump in price, and if shipping were available values would soar locallv. Up to £l4 a ton has been offered on trucks. Oats are r-arcel' so firm as a week or two ago. The general quotation is 4s 6d, f.0.b., s.i. for A Gartons and U 4a 3d f r B’s, but there is no inquirv. Algerians are worth 3s 9d to 4s on trucks, .and Duns tq 4? 3d.

Cocksfoot is Hid per lb for standard seed, or 7d to 7jd on truck There is an absolute dearth of inquiry. A good deal of white clover is offering, there being some big lines. About from 9d to 10d per lb on trucks is quoted. The southern crop is depressing the market for ryegrass. Perennial is quoted at 4s, and Italian at 3s on trucks or 5s 9d and 4s 9d respectively for dressed seed, f.0.b., s.i. When* is slowly drifting into the hands ■ millers at the latter’s prices—namely, 6s 8d to 7s, f.0.b., according to variety. FOREIGN EXCHANGE RATES. (Press Association—Bv Telegranh—Copyright.) LONDON, April 8. The exchange rates are as follows

• hv 'Tiff silver —A. nnil N.Z. Cable. GOVERNMENT SEOUniTIES. (Press Association—By Teiepnnn— copvricht.) LONDON, April 8. The following are the latest quotations for Government securities, compared with the prices ruling last week:— .

BANK OF ENGLAND RETURN. (Press Association—By Telegraph—Copyright.) LONDON, April 8. The Bank of England return for Wednesday is as follows; ISSUE DEPARTMENT. Note circulation £141,899,000 Notes in reserve 23,109,000 £165,001,000 Government debt £11,015,000 Other securities 8,735,000 Gold coin and bullion 745,251,000 £765,001,000 BANKING DEPARTMENT. Proprietors’ capital Public deposits Other deposits .. .. 106,972,000 Rest, 7-day, and other bills .. 3,157,000 £137,858,000 Government securities Other securities Sf’TmnoO Notes in reserve Gold and silver com 1,404,000 £137,858,000 The proportion of reserve to liability is 20.40 compared with 18.40 last week. Short loans are quoted at 4 per cent, and threemonth bills at 4| per cent.—A. and i'i.A. Cable. ■ . OAMARU MARKETS. (Feom Odb Own Corbebpokdent.l OAMARU, April 9. There has been comparatively little movement in the wholesale markets m Oamaru this week owing to the merchants establishments not being opened until Wednesday. . , , . , Wheat. —The position in regard to wheat, is not much altered fr„.u last week. A few lines of Tuscan, Hunters, and Dreadnought have been sold at millers prices, but there is still a disposition on the part of fanners to hold Velvet, Hunters, and the liner qualities of wheat, home fairly large parcels of Hunters have reached the mills, one consisting of 600 sacks and another of 300 sacks. The whole of the mills are working short hours, and some have not resumed operations since the Easter holidays. Small lines of Tuscan have been purchased in South Canterbury at current prices. Oats. —There is also a tendency among farmers to hold oats for a better price. One or two purchasers of A Gartons have been made at 3s lOd, but many farmers are asking 4s. Merchants are offering 3s 9d per bushel and 3s 6d on trucks for B’s. Very little business has been doing in Algerians. The oat market generally has displayed a weakening tendency. A line of Algerians suitable for dressing was# purchased at 3s Bd. Ryegrass.—There is little movement in ryegrass. An offer of 4s 6d per bushel for perennial ryegrass was refused by the owner. Chaff. —Good bright oaten sheaf chaff is quoted at £5 5s net on trucks at country stations, but farmers do not appear to be keen to sell at this price. Potatoes. —A few smalMines of potatoes have been purchased for the Dunedin market. Digging operations are not yet general, however, as the tops are green in many places. It is expected that digging will be commenced in earnest next week. The crops are free from blight,

and promise heavy returns. The price for good to fair potatoes is at present £5 5s per ton on trucks. Barley.—No purchases of barley have been made, and it is believed that a larger portion of this season's crop has now been marketed. Fowl . Wheat. —No change is reported in the price of fowl wheat. Live Stock. —The sales of live stock have not been as animated as last week, many of the farmers’ requirements for stores having been filled. There is still a good demand for forward wethers and ewes and rape lambs, as root crops have come on well in recent weeks, and there is an abundance of grass. Good crossbred ewes have sold during the week up to' 33s 3d, two-tooth halfbred ewes 33s to 355, rape lambs 25s to 275. lambs 23s lOd. fat ewes 17s 3d, and fat Cattle have been offering in very small numbers, and pigs have not formed an important part of the entries at the stock sales.

Par A pi. 2. A Pi. a. [Vine, It to i 1 ... ... 25.22} 140.94 198.87 Brussels, (r. to £1 ... 25.22} 199.62 190.75 Oslo, kr to £1 ... 13,159 22.67 22.65 Cooentimren. kr lo £1 ... 13,159 18.57 18.58 Stockholm, kr. to £l ... 18.150 18.13 18.14 Berlin. rclchmkn to £1... 20.4.-! 20.43 20.49 Montreal, do! to ... 4.863 4.87 4.8« Sew York, dol to £J ... 4 op 4.86 3-16 4.86 3-16 Romo, Hre to £1 ... ... 25.22} 120. S3 120.5)5 Yokohama. 8t. to yen ... 24.58 22 11-16 TJi 17 15-16 17 1 Calcutta, st to rupee ... 24.00 Honskonc, et to do! Amsterdam, cnild. to in 12.107 a 12.126 Batavia, guilders to £1 12.107 12.105 12.105

Last week This iveetc. \ £ a d £ 8d Imperial Consols, 2$ p.o. .. 54 10 0 54 10 0 War loan. 5 p.o., 1929-47 .. 101 17 6 102 0 0 War loan, 3J p-c., 1925-29 - 07 10 0 07 10 0 Conversion loan. 3J p.o. 7i 17 6 74 17 6 C’wealtb 6 p.o., 11)31 41 10 2 15 0 102 10 O' C’wealth 5J p.o.. 1922-47 . . 102 0 0 102 0 0 N.Z 6 p.o.. 1936-51 107 10 0 107 7 6 N.Z 4 p.o., 11)29 97 7 6 07 7 6 N.Z S} p.o.. 1940 N.Z 3 p.o.. 1945 84 10 0 6 84 75 12 0 G 0 N S W 6J p.o., 1930-40 .. m 15 0 103 15 0 N.S.W 6 p.o., 1930-40 .. 103 7 6 103 7 6 N.ti.W 6J p.o.. 1922-32 .. 102 0 0 100 IT 6 N W 4 p.o.. 1933 , .. m 0 0 91 0 0 NSW 3* p.o.. 1910 50 .. 82 0 0 82 G N.j5 W 3 p 0., 1935 75 0 0 100 0 0 Vio 6J po., 1930 40 100 5 0 7 6 Vio 5 p-c. . 1932-42 . 98 10 0 08 10 O Vio 4J p.o.. 1921-26 96 2 96 10 0 Vio 3 p.o.. 1929-40 71 17 71 10 0 Vio 3J pc., 1929-49 ._ .. 77 7 6 77 10 0 Q’land 6 p.o.. 1930-40 102 10 0 103 10 0 Q’land 3j p.o.. 1930 ... .. 92 5 0 02 2 6 Q’larnl 3 p o., 1922-47 ... S.A 6i p.o.. 1930-40 68 103 10 10 0 0 68 103 5 0 6 S.A 3J po., 1939 82 15 0 83 0 0 S.A 8 po., 1916 or after .. 60 0 0 60 0 0 W.A 6 p.o., 1930-40 102 12 6 102 12 G W.A 3$ p.o., 1920-35 86 \2 8 85 15 0 WAS p.o., 1916-35 _ .. 84 15 0 84 •0 0 Tas 6i p.o., 1930-40 _. .. 103 12 6 103 15 0 Tas. 3J p.o.. 1920-40 83 0 0 82 17 6 Tas. 3 p.o., 1920-40 78 15 0 70 0 0 —A. and N.Z, Cable.