COMMERCIAL CABLEGRAMS.

Otago Witness, Issue 3489, 25 January 1921, Page 16

COMMERCIAL CABLEGRAMS.

LONDON MARKETS. LONDON, January 20. Wheat and flour are very quiet. The official price of flour has been lowered by Is. Barley is dull. Oats are quiet. La Plata., on spot, is quoted at 37s and 37s 6d. Beans and peas are slow of sale, and are unchanged. Cheese is slightly firmer. New arrivals of New Zealanclr are selling at 1565; ivhite, 1595; coloured, 160 s. Copper: Spot, £7O 2s 6d; forward, £7O ss. Electrolytic copper: Spot, £79; forward, £Bl. Lead: Spot, £23; forward, £23 7s 6d. Spelter: Spot. £25; forward, £26. Tin: Spot, £iß7 2s 6d; forward, £l9l 17s 6d. Silver: 3s 4£d per oz. January 22. Cotton. —February shipment, 9.46 d. Rubber. —Para, 12jd; Plantation, 13Jd; smoked, lid. Hemp.—January-March shipment, £sl. Jute.—January and February shipment, £3B. Copra,—January to March shipment, nominal, £34 15s. Linseed oil, £33. Turpentine, 85s per cwt. FOREIGN EXCHANGE RATES. LONDON, January 20. The foreign exchange rates on London afford the following comparison : Par. Jan. 17. Jail. 20. Paris (fr.) 23.221 60.55 57.43 Christiania (kv.) 18.163 21.70 20.10 Stockholm (kr.) 18.160 17.67 17.53 Calcutta (rup.) ... 10 to gold sov. 17§ 171 Montreal (doi.) 4.86 4.25 8.2!) New York (do!.) 4.86 3.74 8.78 Yokohama (yen.) 24}- 30$ 80$ Hongkong (dol.) 24) 35$ 35 GOVERNMENT SECURITIES. LONDON, January 20The following are the latest quotations for Government securities, with a comparison with those ruling ia6t week :

BROKEN HILL MINES. MELBOURNE, January 21. Mr C. Fraser, of the Broken Hill Association of Smelters, comparing the market capital value of the Broken Hill mining companies at the end of 1920 with the highest prices ruling throughout the year, said they showed a decrease of £7.000,000, and a drop in the whole base- metal industry of £14,000,000.

BANK OF ENGLAND RETURNS. LONDON, January 20. The Bank of England returns for the week ended January 20 afford the following comparison with those of the previous week:—

AN UNJUSTIFIABLE INCREASE. LONDON, January 18. The action of the Government in raising) the freight on New Zealand cheese l|d per lb is condemned as unjustifiable, in view of the falling freight rates in other directions. (Fbom Ocb Own Cobbesfondent.) WELLINGTON, January 19. In reference to the press cablegram received to-day stating that the British Government has been blamed for raising the freight on cheese ltd per lb, it appears that the shipping companies have offered to reduce freights to IJd, plus 10 per cent. LONDON TALLOW SALES. LONDON, January 19. At the tallow sales 1693 casks were offered. Eighty-seven were sold at a 2s decline, h ine mutton brought o2s per cwt; medium, 545; fine beef, 51s; medium, 425. The slump in fine beef is due to the absence from the margarine makers, who are no longer taking edible goods, which are consequently only fetching scapmaking prices. Owing to the poor demand no sales will be held until further notice. Dalgety and Co. report having received the following cable from their hea-d office, dated London, January 19, 1921:—“1690 casks tallow offered; 87 casks tallow sold. Sellers are willing to accept 2s to 3s reduction per cwt, but buyers are holding off. Owing to absence of diemand the auction sale has been indefinitely postponed.” Tire iNew Zealand Loan and Alercantile Agency Company (Ltd.) has received the following cablegram from rts London house, under date January 19:—“Tallow: We quote present spot values for the following descriptions : Fine mutton, £2 12s per cwt; good beef, £2 7s 6d per cwt, mixed, £1 16s 6d per cwt. Small demand; nominal quotation. NEW YORK FUR AUCTIONS. NEW YORK, January 20. The prices at the New' York fur auctions this week Were from 30 to 40 per cent, below the May, 1920, levels. Pelts w’hich then brought 7,000,000 dollars are expected now to bring less than half for the same number. LONDON STOCK EXCHANGE. LONDON, January 20. The Stock Exchange is cheerful, especially gilt-edged securities. There is a good demand for colonial stocks.AUSTRALIAN MARKETS. MELBOURNE, January’ 20. Owing to the industrial unrest the hide sales were not held. January 21. Barley: English, 4s 6d; Cape, 3s to 3s 3d. Oats, 2s 4d, 2s ocl. Potatoes, £3 to .£'s. Onions, £6 to £6 10s. SYDNEY, January 20. Oats: Tasmanian, South Australian, and Algerian feed, 3s to 3s 3d; milling, 3s 6d; w’hite feed, 4s; milling, 4s 3d. Maize: White, 6s 9d to 7s; yellow, 7s. Potatoes, £4 to £5; Tasmanian, £9 to £ll. Onions; Victorian, £7 to £7 10s. ADELAIDE, January 20. Oats: Growers’ lots, Is 9d. —A. and N.Z. Cable.

Jan. 1 Jar . 2 ). per c* n(. Imp. Con. £47 0 U £48 0 0 5 pe r cic m t. Imp War I.oan . . 83 5 0 85 0 0 H per ce it. Imp. War Loan 83 17 6 85 0 0 6$ per ee it. C’w ealth Loan ... 96 5 0 97 0 0 pl'T ce it. C’v\ ealth T-oan ... 94 12 6 94 15 0 Vie. 4% 1921-0. Jan.-July 82 5 0 82 15 0 Vic. .Si’s, 1929-40, Jan.-Jill v... 55 5 0 65 0 0 Vic. 3*s. 1929-49 Jan .-July ... G1 15 0 61 17 G N.S. W. 4' s, 1938 Jan.-July .., 69 5 0 74 0 0 X.r-.W . 31’,q } 1935- April-Jun.-Jul y 69 0 0 69 5 0 N.S.W. :•! s, 1935 , April-Oct.... 62 7 0 62 15 0 N.8.W. oa ’s 93 15 0 94 5 0 N.8.W. OVs 99 0 0 99 7 6 Q’larul 4’. , 1924 Jan.-July .., 85 15 0 87 5 0 Q'lurid 3£ s. 192 -24, Jan.-July 84 0 0 84 0 U Q'lond Si s, 192 -24, Jan.-July 97 0 0 97 0 0 Q’lftnd. 3’t , 1922 17, Jan.-Julv 50 0 0 52 0 0 N.Z. 4’s, 1929. Mnv-Nov. 83 10 0 61 15 0 N.Z. Si’s, 1940, Jan. - July 66 15 0 68 0 0 N.Z. 3’s, 1945. Ipril-October 68 0 0 58 10 0 H.A. 3*’s? 1010 or alter 60 5 0 66 0 0 S.A. 8V. 1930, Fan.-July 4!) 0 0 49 15 0 Tas. Si’s. 1920-40, Jan.-July... 6G 12 6 60 17 i) Tas. 3’fl. 1920-40 Jan.-July ... 60 0 0 60 0 0 W.A. Si’s 192015, May-Nov... 6S 15 0 68 15 0 W.A. 3’s, 1916-3 5, May-Nov— 60 17 6 67 10 0

Jan. IS. Jan. 20. Coin uni bullion ... £126,493,000 £126.500,000 Heserve 16,896,000 18,197,000 Proportion of reserve to liabilities, per cent. .. 12.16 13.37 Note circulation ... 129.834,000 128,541,000 Government deposits ... 16,884,000 16,076,000 Other deposits ... 123,237,000 120,012,000 Government securities 69,242,000 64,610,000 Other securities ... 80,792.000 81,326,000 Short loans, oj per cent.; three months’ bills. 6f per oent.