COMMERCE AND FINANCE

Otago Daily Times, Issue 21538, 9 January 1932, Page 7

COMMERCE AND FINANCE

DUNEDIN MARKETS WHEAT, OATS, ETC. In milling wheat the rains during the holiday period have materially improved the outlook for the wheat in tins district, and the growth of the crop in the early ■tages is now assured. Given fine weather in the autumn, farmers look to satisfactory yields. Stocks of fowl wheat are practically nil as far as wholesale merchants are concerned, and there appears to be nothing offering from growers, ine nominal value is 5s per bushel, ex truck, Dunedin, for good average quality. Millers’ prices for flour, etc., are as *° Flour: 2001 b, £l7 2s 6d; 100’s, £lB 2a «d: 50’s, £lB 7s 6d; 25’s, £lB 17s 6d. Bran, £5 10s per ton. Pollard, £6 10s per ton. Oatmeal: 2001 b, £2O; 25 s, £2w. There has been an easing in the strong demand of last month for oats, but whether this is due to North Otago and South Canterbury merchants now having secured their requirements or to the fact that they know that there is nothing to W purchased locally, it is difficult to say. The recent rains in the Oamaru district must have helped things .considerably there, although there will still be a serious ■shortage of feed. North Otago merchants have not responded to the increase in values, and no shipping orders are being received. A grade Cartons are quoted today at 3s 3d per bushel, f.p.b., s.i-: o grade 3s per bushel, f.0.b., s.i., but these prices are purely nominal. During the latter part of last year a good part of the local requirements of chaff was being drawn from Canterbury, but the price there to-day, which is £4 p r ton, on trucks, Ashburton district, is much too high for local merchants who will have to look to Southland if sufficient is not forthcoming nearer at hand. Stocks of all seeds are in small compass and there is a healthy inquiry for ryegrass, cowgrass, white clover, and cocksfoot. It is many years since a season lias finished with markets so bare of stocks. Samples of new crop ryegrass from Canterbury should be to hand during the month, while it is reported that the cutting of fescue has commenced in one or two districts in the south. _ Produce lines are quoted wholesale as follow: — . , Chaff: Good quality, £5 per ton. ex store, sacks extra, with medium and inferior lots at correspondingly lower prices. Dairy butterr Milled bulk, 9d per separator, BJd to 9d, Bacon, 10M per lb. , Ham: Ordinary, lOJd; boneless. Hid per lb. , Onions: Melbourne, 10s per cwt. Eggs: Stamped, Is per dozen; case, lid-

FRUIT REPORT. Large supplies of apples are still arriving from Canterbury cool stores. are now selling at low rates, and the demand is poor. New seasons apples have made their appearance from Nelson, Central Otago Beauty oi Bath should be on the market in about a week s time. Bananas are temporarily off the market. Further supplies will come to hand next week— Samoan-grown about Tuesday and « shipment of Rarotonga’s towards the end of the week. , Oranges are in fair supply,, and the demand is poor. The Wainiii is laid up in the meantime, and no further shipments are expected until she resumes her running. , , Lemons are in short supply, and prices are much firmer. , , ~ The cherry market is a little firmer. The prices ruling at New Year time were enough to frighten growers off the JJunedin market, as both Christchurch and Invercargill were realising much higher prices. It is doubtful if choice cherries have ever been offered at such low rates during the New Year period. Buyers were almost impossible-to find, and many lines of really choice fruit were offering at 2d per lb, and hard to sell even at that price. Since the holidays the demand has improved, and towards the end of 'this: Week : 'much better prices were being obtained. , . Peaches were also realising better T&luC9. . r A keen demand has existed for choice lines of apricots. • . The night tram from the Central begins on Sunday night." This will allow the fruit to land in Jfunedin in better condition. , , Very cold weather has been experienced in Central Otago, and there is little possibility of any rush of fruit, at least for several weeks. Northern markets continue firm for atone fruit, and what with frost damage and cold weather good prices should be obtained for practically all classes of ■tone fruit which come forward. _ Plums are in heavy supply, mainly from Christchurch, but satisfactory prices are being obtained. Small lots of strawberries are still offering, and choice lines have a keen demand. , , „ . Red and black currants have also firmed in ; price since the holidays. , Gooseberries are practically finished, and low in price. The tomato market has been very erratic. The price dropped considerably during the New Year holidays, but supplie 9 have since eased off, and the market was much firmer at the end of the week. Hothouse tomatoes at 3d and 4d per lb must be very disappointing to growers, as there is considerable • work attached to this class of fruit. It is expected .that prices will remain firm until the outsidegrown are forward, but these may not be forward in any quantity until the end cf* the month. . Some very choice lines of crate peaches have been coming forward from the Central, and satisfactory prices have been obtained. Loganberries are now on the market, but the demand so far is not great. A better demand has existed for raspberries, and the market is firmer. Green peas are in short supply, and high prices are being obtained for good, clean lines. French beans are offering, and satisfactory prices are being obtained. Broad beans are in good supply, with prices low. , ~ , . , , Lettuce are unsaleable, even choice lots being impossible to place. . Young carrots are more plentiful, and prices are a little easier. . Cabbage are in heavy supply, with prices low. Cauliflower are in short supply, and high prices are being obtained for good lines.

Local-grown potatoes are now coming forward in heavy supply, and the market is easier. The quality ottering has mostly been very choice. North Island grown are still offering, but have little demand. Wholesale prices are as follow: — Apples: Stunners, choice, to 7s 6d; ethers, 3s to 4s; Lord Wolseley’s, to 7s. Bananas; Ripe, to 255. Oranges: Australian Valencias, 10s to 14s; interior, 7s to os. Strawberries: Choice, lOd to Is 3d per pottle; others, 7d to 9d. , Cherries: Choice, 5d to 9d; small. 3d. Californian grapes, 20s per barrel. Lemons: Australian, 18s per case. Hothouse tomatoes, 4d to 6d; seconds, Sd to 4d; small and rough, 2d to 3d. Red and black currants, 2d to 4d per

lb Gooseberries, Id to IJd per lb. ■ Cauliflowers: Choice, 6s to 8s per sack. Peaches: Crates, 3d to sd; cases. 2s Od to 5sT. Apricots, 3d to 5d per lb. , Plums, lid to 3d per lb. Loganberries, 7d to 8d per lb. Green peas; Choice, 3d to 4d; others. Id to 2d per lb. „ Cucumbers: Australian, i-s per case, local hothouse. 4s 6d to Os 6d per dozen. . Broad beans, Id per lb. • French beana, 4d to 41d. ■ Cabbages, Is to 2s per dozen; others, per bag. , , Lettuce: Choice, to Is 6d per dozen, i Carrots, Is to Is 3d per dozen bunches. Peninsula potatoes, Id to lid per lb. BRADFORD TOPS MARKET (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, January 7. Bradford is quiet, awaiting the London opening. Prices are steady on reports of . Australian and New Zealand sales. Quotations: Seventies. 26d; sixty-fours, 23id; sixties, 224 d: fifty-sixes, 19d; fifties, 13id; forty-sixes. Hid; forties, lOid.

LOCAL AND OVERSEAS MARKETS.

SWEDEN AND NEW ZEALAND SURVEY OF TRADE RELATIONS. The Swedish Chamber of Commerce for Australia and South Sea Islands has marked the occasion of the twentieth anniversary of its foundation with the publication of a special 430-page number of the Swedish-Australasiau Trade Journal, in which a review is made of friendly trade and social relations which have long existed between the Swedish people and the people of Australia and New Zealand. It can in truth be said that the history of the two dominions from their earliest times is linked with Sweden. Sir Joseph Banks claimed Swedish ancestory, and it is a memorable fact that Cook brought Sol under on the Endeavour in 1770, and Sparrman, another Swedish scientist, on the second voyage two years later. Through the “white history of the Commonwealth and New Zealand one can, ns Mr Lindquist, the Consul-genera at Svdney, remarks, trace the friendly and efficient co-operation between the Briton and men of the Swedish race. To-day, of course, the happy relations between the countries are firmly cemented by trade. In the past 10 years Swedish trade with New Zealand has increased tremendously, the returns being as follow: — Imports. Exports. Total. 1920 .. £191,309 £' 20 /RH.329 1920 .. 325,325 6634 331,959 It is to be noted that the balance of trade between Sweden and New Zealand is very greatly in favour of Sweden, ine principal commodities which New Zealand takes from that country arc wood pmP (value £36,232, in 1929), hardware metal manufactures (£33,506), dairy machinery (£39,471), electrical machinery (£26,652), timber (£42.467), material for cardboard boxes (£17,778), watches (£666). Since 1925 importations from Sweden of wood pulp and cardboard box materials have shown material, increases, while trade m all other commodities specified has talieu off. The principal New Zealand direct exports to Sweden are, as shown in the table above, inconsiderable. Ihcy consist of cattle hides (value £1991, m 1930), scouted wool (£3338), greasy wool (£1054), and a few miscellaneous items. The value of greasy wool exports snows a decline of £2715 from 1929, while scoured wool exports increased by £t«2/ in 1930 from the previous year. It would appear, therefore, that any impetus to reciprocal trade between Sweden and New Zealand must be in the direction of mcreasing wool to that countiy, 3matter over which this Dominion has no control. As to the commodities which Swedish industrial enterprise offers to New Zealand importers, they are extremely varied, and this excellent publication gives the reader a comprehensive knowledge of the activities of Sweden in catering for the Dominion markets. Those who read this book will be impressed by the cordiality of the relations that have been established between Sweden and New Zealand; they will reflect also that the adjustment of our present unfavourable trade balance is- the desideratum if an increase in reciprocal trade is to be accomplished on n mutually profitable basis.

DUNEDIN HIDE SALE

Messrs Waters, Ritchie, and Co., Ltd., report as follows: —We held our usual monthly sale at our stores, Anderson s Bay road, on Thursday, 7th instant. The usual tanners and exporters were present, when we submitted a catalogue consisting of 1368 hides and 507 yearlings and calfskins. Competition for all good condition lots was general with values for lightweights firm to slightly dearer. Medium and heavy sorts showed little alteration, but heavy substance lots were generally about id and in some instances Jd lower. Badly flayed and soft parcels in most cases were more or less neglected. Our best prices for stout substance ox were 8d for two lots, 7|d and 7id. Cows 53d. Yearlings were id to 3d dearer. Calfskins firm. The following are some of our best B—Five 8 —Five 651 b Bd. 1 641 b Bd, 3 741 b 73d, 16 64/671b 73d, 18 64!b 7U, 8 741 b 7id, 11 751 b 7d, 29 02lb 63d, 15 721 b 6|d, 3 661 b 6Jd, 6 571 b 6Jd, 5 721 b 61d, 56 631 b 6id. 11 741 b 6id, 5 651 b 6d“ 23 561 b, s|d, 57 621 b, 53d, 92 561 b sgd, 8 741 b s|d, 76 50/551b 5Jd, 6 72 b sid, 26 551 b s§d, 15 57/611b sid, 7 431 b 54d, 56 49/551b 6d. 28 621 b sd, 18 551 b 43d, 6 611 b 43d, 11 441 b 43d,14 72//7 b 4|d, 16 42/471b 41d, 13 371 b 4|d, 15 491 b 4id, 32 49/641b 4(1. „ Cows— Five 581 b s|d, 86 441 b sgd, 51 541 b sid, 20 361 b sid, 11 371 b sd, 6 431 b 6d, 41 35/431b 4|d, 14 36/451b 4|d, 14 511 b 4§d, 31 43/461b 43d, 20 561 b 43d, 32 361 b 43d, 34 441 b 43d. 19 531 b 4id, 13 351 b 43d, 6 581 b 43d. 36 361 b 4d, 17 441 b 4d, 17 421 b 3|d, 10 431 b 33d. Yearlings: 4d to 4|d. . Calfskins: to 53d. BRAY BROS., LTD., CRAWFORD AND BOND STREETS. DUNEDIN. Are reliable FRUIT AND PRODUCE SALEiSMEN. and solicit consignments of all kinds of fruit and produce and <vil! be pleased to furnish MARKET REPORTS on application. CORRESPONDENCE invited. —Advt..

DAIRY PRODUCE LATEST GRADING RETURNS. (Pee United Press Association.) WELLINGTON, January 8. The grading figures of the dairy division of the Department of Agriculture for the five months ended December, 1931, show an increase for butter of 7.63 per cent, at 54,915 tons (50,925) and for cheese a decrease of 6.16 per cent, at 40,014 tons (42,644), compared with the corresponding period last season. Reduced to terms of butter-fat equivalent, there is an increase to date of 4.652 per cent. The National Mortgage and Agency Company of New Zealand, Ltd., has received the following cablegram from London:—Butter: Market firm; New Zealand finest grade, 101 s, 102 s; New Zealand first grade, 100 s; New Zealand unsalted, 114 s, 116 s; Danish, 128 s; Australian, 100 s, 102 s, Cheese: Market steady; New Zealand white 575. 58s; New Zealand coloured, 565, 575. Messrs A. S. Paterson and Co., Ltd., have- received the following cablegram from London:—Market disorganised owing to strike; butter and cheese prices nominal. Messrs Dalgety and Co., Ltd., have received the following cablegram from their head office. London, dated January 7: The butter and cheese markets are firm owing to light supplies. Danish butter, 130 s to 1345; New Zealand finest butter, 100 s to 102 s; Australian finest uusalted butter, 110 s to 112 s; Australian finest salted butter. 101 s to 102 s; Australian cheese —white 55s to 575, coloured not quoted; New Zealand cheese —white 56s to 58s, coloured 55a to 575; Canadian cheese—white 64s to 725; coloured 64s to 60s; c.i.f. not quoted. Light supplies, caused by strike of lightermen labourers. Strike expected to end shortly.

LONDON STOCK EXCHANGE (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, January 7, P. and 0., 21s 6d. PRICE OF FINE GOLD (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, January 7. Fine gold is quoted at £6 Is 8d per ounce. BEET SUGAR (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, January 7. Beet Sugar: February) 7s. BUTTER AND CHEESE (United Preae Association.) (By Electric Telegraph-Copyright.) LONDON, January 7. The lightermen’s strike disorganised the provision markets early in the week, but a fair quantity was motored from the docks to-day. Butter: Danish is easier at 1245; choicest salted Australian and New Zealand are both about 100 s; unsalted New Zealand about 114 s, and Australian 110 s. Cheese is firmer. New Zealand coloured 575, white 595; Australian, 55s and 565. WHEAT, FLOUR, ETC. (United Press Association.) (By Electric Telegraph--Copyright.) LONDON, January 7. Wheat cargoes are steady, excepting Australian, which are nominally unchanged, but sellers are asking 3d advance. For other descriptions buyers, however, are wary. The market closed easier. Parcels are occasionally 6d dearer for Manitobas. Others are unchanged. Trading is quiet. Futures: London —February, 25s 2d; June, 265; Liverpool— March, 5s 6id; May, 5s Bfd; July, 6s IOJd. The spot trade is quiet owing to the strike. Prices are generally firmer. Flour has a hardening tendency. Oats are neglected. , Peas are in small demand. Blue lasm alii an, 280 s to 300 s; New Zealand, 240 s to 2605; Maples (Tasmanian), 60s to 625; New Zealand the same. New Zealand beans, 29s to 30s. New Zealand honey sales for the last quarter of 1931 were the largest for any quarter in the past decade.

MELBOURNE MARKETS (United Pros* Association.) (By Electric Telegraph—Copyright.) MELBOURNE, January 8. Wheat, 3s 3d to 3s 3id. Flour, £B'. Bran, £5. Pollard, £5 ss. Oats, 2s to 2s Id. Barley: English, 3s to 3s Id. Maize, 3s to 3s 3d. OTAGO FRUIT PRICES (Special to Daily Times.) WELLINGTON, January 8. The Wellington Fruit Markets, Ltd., report the following values for Otago fruit: —Apricots: No. 2,4 s to 5s 6d; No. 1,6 s to 8s 2d; peaches, 5s to 7s 2d; plums, 5a 6d to 7s 9d; cherries—white 4s to 12s, blacks 9s 6d to 13s 6d. , Cherries are affected by importations from Sydney, which are now finished. The demand for Otago fruit is splendid, owing to the partial failure of the Hastings crops. ____ BANK OF ENGLAND RETURN (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, January 7. The following is the Bank of England return: — ISSUE DEPARTMENT. „ Note issue in circulation .. £362.859,093 Banking department .. .. 32,8JU,00z £395.749,775 Government debt .. £ o l m’oar’ro^ Other Government securities 242,966,59 j Other securities 17,160,860 Silver coin .. .. •» *» 3,851,445 Gold coin and bullion .. .. 120,749.775 £395,749,775 BANKING DEPARTMENT. Proprietors’ capital .. .. Best 3,481,814 Public deposits ~ .. •• ofo^oo Other deposits (bankers) 81,823,788 Other accounts .. •• •• 88, Seven-day and other bills .. £154,044,675 Government securities .. Discounts and advances .. 1»,8U8,«0U Other securities ao snn’flß? Notes in reserve .. .. -. Gold and silver com .. .. £154,044.675 The proportion of reserves to liabilities is 24.60 per cent. Short loans are quoted at 4J per cent.; three months bills at 5 13-10 per cent.

NELSON FRUIT CROP Interviewed regarding the fruit crop in the Nelson district, Mr J. H. Thorp, orchard instructor, said the fruit generally is developing well, and with suitable weather conditions the season promises to be an early one. The present indications are for a crop of good quality fruit for export. “The very wet weather in December was of benefit to the trees,” said Mr Thorp, “ and spraying stocks were replenished. As a result of the heavy ram the apples have become more or less generally affected with eye rot. The Jonathan variety appears to be the worst affected. This will probably cause very little,loss of crop as the trees in most orchards require thinning, and the defective fruit can be taken off during thinning operations.” Since the wet spell in December several orchards have experienced a rather severe leaf scorch on the weaker Stunner trees, but they are now recovering, and tjie crop will probably not be detrimentally affected thereby.

BALCLUTHA STOCK MARKET (From Odr Own Correspondent.) BALCLUTHA, January 8. There was a fair yarding of fat sheep and lambs at the Balclutha sale to-day, and prices were in most instances well maintained. Fat full-mouthed ewes brought from 7s to 8s 9d; fat, 11s 9d to 12s; and forward wethers from 8s to 12s. One pen of prime fat wethers realised 19s 9d. Lambs brought from 11s to 14s. There was only a moderate yarding of pigs—mostly weaners. Prices made from Us 6d to 18s, and one nice pen realised 20s. One fine young Berkshire boar was sold at two guineas, lue cattle list was small. Fat cows sold at from 12 10s to £4 15s; dairy cows from £3 to £7 10s. WELLINGTON WOOLLEN COMPANY INTERIM DIVIDEND. The Wellington Woollen Company has declared an interim dividend of 3 per cent, for the half-year ended December 31. The interim dividend in January last year was 3 per cent., and in 1930 4 per cent. POTATO SHIPMENTS TRADE WITH NORTH ISLAND. In comparison with previous Mean* shipments of potatoes from the South Island were not unduly large jsays an Auckland paper). In July, 1925, for instance, 52,924 sacks were landed in Auckland, while from the beginning of April to the end of July this last year 70,342 sacks were landed. Some of this falling oft, however, is accounted for by improved shipping services to Port Waikato, Tauranga, Whangarei, and Dargaville, avoiding the necessity of shipment through Auckland. Shipments from Lyttelton from April 4 to November 14 this year were as follow:—To Auckland, 124,102 hacks; to Wellington, 76.976 sacks; to Napier and Gisborne, 37,476 sacks; to west coast, North Island. 56,238 sacks. Every shipment to Auckland during the year was under 10,000 sacks, whereas previously this quantity was often exceeded. For 1932 the prospects are for a better market, as statistics show a lower acreage of potatoes for the coming crop.

COMMERCIAL BANK OF AUSTRALIA DIVIDEND ON PREFERENCE SHARES. (United Press Association.) (By Electric Telegraph—Copyright.) ' SYDNEY, January 8. (Received Jan. 8, at 11 p.m.) The Commercial Bank of Australia, Ltd. is not paying the half-yearly interim dividend on ordinary shares owing to the effect of exchange and other adverse conditions, but a dividend at the rate of 4 per cent, per annum will be declared on preference shares. SYDNEY STOCK EXCHANGE (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, January 8. (Received Jan. 8, at 10.30 p.m.) The turnover on the Stock Exchange is much improved in volume. Chief interest centred in Australian Consolidateds, practically all of which went to higher levels ranging from 3s 9d to 15s. There were Bank of New South Wales sales at £3O 10s, Colonial Sugar at £45 sb, Goldsbrough, Mort to 27s IOJd, Commercial Bank of Sydney to £l7 17s 6d. Commercial Bank of Australias were neglected upon the announcement that it was intended to omit ordinary interim dividend. New Zealand Government debentures 5J per cent. (1937) fell 30s to £ll2. LONDON STOCK EXCHANGE (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, January 7. The following ore the latest Quotations (or Goteminent securities compared with the prices ruling last week:—

FOREIGN EXCHANGES (British Official Wlrolesa.) .(United Press Association.) (By Electric Telegraph—Copyright.) RUGBY, January 7.

LONDON METAL MARKET (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, January 7. Followini! arc lire nftMil quotations in the metal market

CANTERBURY MARKETS (Per United Press Association.) CHRISTCHURCH, January 8. There is little to record. _ Merchants generally are adopting a “wait and see'’ policy in regard to the crops before making any definite offers for produce. There is some diversity of opinion us to how some crops will yield, although it is generally conceded that the returns will be substantially below last year. Fowl feed is weaker, and a little forward business has been done at 4s 3d, f.0.b., s.e., as against 4s 4d prior to the holidays. It is considered that undergrade wheat will form a larger percentage of the total crop this season than usual. There is uo movement so far in seeds, although it is apparent that there will be a much smaller return than last year. Cocksfoot is mentioned as likely to be worth 6d per lb to farmers. Reports from the south are to the effect that the oat crops there have been improved by the recent ruins, and are looking well. A Cartons arc quoted at 3s, f.0.b., South Island ports. There has been a little forward business in potatoes at 77s- 6d a ton, f.0.b., s.i., but the North Island is not making much inquiry. The frost of the last week cut back some crops rather severely, and the drying winds have offset the benefit that would otherwise have been conferred by the showers. The continued dry weather in South Canterbury has affected crops in that area, and the yield from there will be smaller than last season. Quotations are £2 12s 6d to £2 15s on trucks. KING SOLOMON DEEP LEAD (Per United Press Association.) INVERCARGILL, January 8. The wash-up at the King Solomon mine for two and a-half days’ work produced 260 z 9dwt.

Imperial Conaola, 2M p.c. Last wecfc. £ a. d. . 63 10 0 This weelt. £ a. d. 55 5 0 War Loan. S p.c.. 1929-47 . 95 0 0 00 15 0 fonrertlon Loan. 314 p.a . 72 0 0 75 0 0 Victor?. ♦ P-8- . 88 10 0 90 15 0 C’WMltll 6 P.C.. 1031-41 . 88 10 0 90 0 0 C'wealtb 014 P.c., 1922-27 . 77 15 0 78 7 6 N.Z. 0 P.O.. 1830-81 . 09 10 0 04 0 0 N.Z. 4 p.c,, 1920 .. .. 0 75 7 6 N.Z. 814 P.a. 1040 . 73 10 0 74 5 0 N.Z. 8 p.c., 1946 .. .. . 05 10 0 04 0 0 N.S.W. 014 P.a, 1030-40 . 87 15 0 88 0 0 N.B.W. 8 p.c.* 1930-40 .. . 80 10 0 84 0 0 N.S.W. 6% P.a. 1022-32 . 81 0 0 81 0 0 N.S.W. 1 p.c.. 1033 .. . 31 0 0 81 0 0 N.S.W. 814 p.a, 1830-60 . 71 0 0 69 10 0 N.S.W. 3 p.a. 1038 .. . 67 10 0 66 0 0 Via 614 P.a, 1030-40 .. . 74 0 0 74 10 0 Via 0 p.a. 1032-43 . 07 0 0 08 0 0 Via 4% p.c*, 1040-60 .. . 80 0 0 79 10 0 Via 314 P.O.. 1020-49 .. . 62 10 0 62 0 0 Vic 8 p.a. 1929-40 . 56 0 0 SO 0 0 Q’land 8 p.a. 1930-40 . 80 0 0 84 0 0 Q’laud 0 p.a. 1040-00 . 72 15 0 73 0 0 Q’land 8 p.c.. 1022-47 . 58 0 0 50 0 0 B.A. 014 P.O.. 1030-40 .. , 90 0 0 SO 10 0 B.A. 814 P.C.. 1039 . 67 0 0 05 0 0 S.A. 8 p.a, 1818 or after . 45 10 0 44 10 0 W.A. 6 p.a. 1830-40 .. , SO 0 0 80 0 0 W.A. 814 P.O.. 1920-38 . 75 0 0 72 10 0 W.A. 314 P.O., 1915-35 • , 70 15 0 71 0 0 Tat 614 P.a, 1930-40 ., , 90 6 0 83 0 0 Tat 314 p.a. 1020-40 .. . C3 15 0 03 0 0 Tat 3 p.a, 1820-40 .. . 02 10 0 02 17 6

Paris, ft to £1 Par. 124.21 Jan. 0. 85 7-16 Jan. 7. 35% Brussels, beiges to £1 35 24% 24 7-18 Oslo. Ur to Cl .. 18.150 18% 18% Stockholm. Itt to £1 18.150 17% 17 13-16 Copenhagen, kr to £1 18.150 18% 18% Berlin, marks to £1 20.43 14% 14 5-10 Montreal, 'dol to £1 4.SO 2-3 S.9G 4 Mew York, dol to £1 4.80 2 3 3.35% 3.39 Yokohama, pence to yen 34.58 25 25% Hongkong, pence to dol 23.15 17% 17 7-10 Bombay, penes to rupee 18 18% 13 7-64 Batavia, Borins to £1 .. 12.107 — — Milan, lire to £1 ., .. 02.48 00 1-10 00% Amsterdam, guild to £1 12.107 8.30 8.45% Prague, kr to £1 .. .. 24.02 113% 113 Genera, kt to El .. M 25.2214 17 3-10 17 7-10 Vienna, schillings to £1 24.6514 SO 30 Helsingfors, marks to £1 193.334 230% 235 Madrid, pesetas to £1 26.22% 39% 40 3-16 Athena, drachma to £1 25.22% 202% 200 Lisbon, escudos to £1 «. 5.50% 109% 100% Bucharest, lei to £1 937 505 565 Uio de Janeiro, pence mllrels ,. ,, .. to IS 4% Buenos Aires. pence pesos to 47.83 40% 40 9-10 Shanghai, pence to ael 23% 23 11-10 23 5-16 Montevideo, pence to peso 61 Sl!4 51 Va

Copper, spot Ton. . lilS 8 9 rail £0 4 •Ua Copper, forward , . . 39 15 VA Ulse 0 15 0 Electrolytic, spot .. , 47 0 0 Rise 1 10 0 Electrolytic, forward . . 48 10 0 Ulse 1 0 0 Wire ban 0 Rise 1 0 0 Lead, spot G Rise 0 3 9 Lead, forward .. . .. 15 7 G Rise 0 3 0 Bpdter. spot S Rise 0 8 9 Spelter, forward .. . ,. 15 0 0 Rise 0 8 VA Tin, spot .. .. . 9 Rise 2 17 « Tin. forward fl Rise 2 17 G Silver, tine Oz. .. IP 13-10d Fall w Sliver, standard .. . i. 31%d Fall 7 10d