COMMERCIAL CABLEGRAMS.

Otago Witness, Issue 3509, 14 June 1921, Page 13

COMMERCIAL CABLEGRAMS.

GOVERNMENT SECURTTIES. , r J he following are the latest quotations lor 6 Gov. “f , securities, with a com*risen with those ruling last week : .*

BANK OF ENU I. AVn RETURN'S, rr, -p . LuND«>N, Juno T ' % 0 f Enginnrl returns* for the week en..e.l J„„e 9 affor.l the foil,wing comparison witn those of the previous work : Uin and bullion iCI2«I!fiU.OiM fiiafU-ThOOil ~, , 17,718,000 lfljisjooil 1 roportion of reserve to lia-

FOREIGN EXCHANGE RATES, rp, . , LONDON, June 3. ihe foreign exchange rates oil London afford tho following comparison :

GOVE RNM E N I* SECURITIES. LONDON, June 3. Flic following are the latest quotations for Government securities, with a comparison with those ruling last week

LONDON MARKETS.

LONDON, June 8. ! Tallow: 2077 casks offered and 781 sold ot about Gd decline. Mutton, 35s to 335; beef, 39a 6d to 345. Tlie demand for apples is easing slightly owing to plentiful supplies. I The price of strawberries end French cher- , Ties declined about 2s. Wailii shares, 27s Gd to 303. 3 une 9. Wuihi Grand Junction, 9s Dtl. I Wheat.—The market is quiet at about lata rates. ; Flour. —The market is slow. Australian, ex | store, 63s 6d, 645. j Oats.—The market is steady. New Zealand, 1 ex quay, 4Ss. i Peas and Beans. —The market is quiet and steady. Sugar.—Prices are declining. Granulated, 61s. June 11. Cotton: Liverpool quotation for American. | is middling; upland, July delivery. 8.31 d j per lb. 1 Rubber; Fine hard Para lid; plantation, first latex crepe, Sid; rmokctl ribbed sheet, j "id. J Copra: South Sea bagged, June-August ! shipment, £27 5s per tori. Jute- The market has an easier tendency. r Jime-July shipment, £25 10s. | New Zealand hemp: June-August, £39 per ton. j Linseed oil, £3l 5s per ton (equal to 2s >3£<l per gallon). Turpentine, 74s per cwt (equal to 5s 7d per gallon). Frozen meat: New Zealand ewes, 7 (< i; fores, la; hinds, 5Jd; Australian hinds, 5Jd; Argentine fores, 4Jd; hinds, BJd; Uruguayan fores. Ru; hinds, 6d; Argentine chiiied hinds, 91 d.—A .and N.Z. Cable. THE TIN MARKET. LONDON, Jane 6. Tin: Spot, 2015 tons; afloat, 1655 tons; in, stock, 17,767 tons; deliveries, 1398 tons., NEW ZEALAND APPLES. LONDON, June 6. Tlie apple market is still firm, the Athenic’a consignment making from ‘26s to 31s per case, and those by the Orontes from 27s to 325.W ELLINGTON, Juno 7. The Horticultural Division of the Agricultural Department has received advice" fronv London, June 3, that ihe Athenic apples are opening up in splendid condition. Tlie shipping company is to b© congratulated on tho carriage. Prices at the first auction wore very satisfactory. Jonathans, 23s to 295; Dunns, 28s to 31s; Rome Beauty, 31s; Kina David and Statesman, 27s to 28s; Stunners, 80s to 325, London Pippin, 27s to 32s per case. Canterbury pears are opening up very well except Marie Louise, which are bruised and appear to lie frosted. Maori Coles are very wasty. Sales are to be held at Hull on Mvcday and Thursday next week. ZINC CORPORATION. „. LONDON, June 7. The Zinc Corporation's profit is £31,9101 unexpended appropriation, £19,932; balance £48,812; total available, £94,675. The direo*

tors appropriated .€27.000 for the development of new plant, £23,265 for taxation, and £10,OX) for depreciation of stores. The pre-fe’v-uiial dividend for first half of the year absorbed £24,560, and owing to the uncertain outlook lij*s dividend for the second half of the yjar postponed. The ixijri'.co brought forward Aiiiouired to £0540. 3HITISII TK -\DE. LONDON, Jime 0. I*.viport3 decreased by £89.105,7:24 and exports Ly £76,231/404, and re-exports by £13,028,242. Tlio priucipai decreases ia import® are: Kan colt • . £12,075,654; wool, £5,053,270; d:1 coedfl, etc., £5.602,501; timber. £1,382,522; dutiable food end drink, £11,924,214; grain and flour, £3,718,193. The decreases in *>:por‘e are: Cotton yarns manufactures, .€29,721,052; woollen worsted yarns manufactures, £5,751,819; coal, £5,610,0?5; iron and steel manufactures, £7,905,231. FOREIGN EXCHANGES WEAK. NEW YORK, June 0. The foreign exchange market is pronouncedly weak. Sterling is below 3.80d0i. The international bankers are mystified by the decline, but believe that it is caused by the Reparations Commission accumulating dollars, and Germany is reported to have offered to pay 50,000,000 gold marks m New York as the second instalment of the 850,000,000 marks due on May 31. WHEAT FOR EXPORT SYDNEY, June 8. In consequence* of reports from America f-redicting good yields, the Australian Wheat toard lias increased the price of wheat for expert purposes from 7s 9cl to Bs. WHEAT AND OATS. WASHINGTON, .Tune 9. The Agricultural Department estimates the total United States wheat crop at

83,000,00-0 bushels, and the oats at 1,405,000 j bushels. Combined with the winter and spring wheat, the latter total is 43,000,000 bushels more than last year. Outs, barley, ) id hay are smaller, and apples are not half the previous crop.13UTTER AND CHEESE. WELLINGTON, June G. The latest cable advice received from Messrs Weddel and Co. (London) with reference to the dairy produce market is: Rutter.—Danish, 2U4s to 208 s: New Zealand, 1983 to 200 s. Market steady. C hee.se. —C ana dia n, 112 st o 120 s ; Xcw Ze a - land (white), 122 sto 1265; New Zealand (coloured), 120 sto 1265. Market weak. Prices are likely to go lower. June S. Regarding the choose market, information has been cabled that the coal miners’ strike in England is having a depressing effect on prices, which are lower. It is feared that a further break is imminent. The difference in price between white and coloured has vanished. One house explains that the demand for coloured cheese in parts of England is filled by American cheese at 95s and Caiiad ia n a t 100 s. FROZEN MEAT. Messrs Dalgety ami Co. (Lid.) report having received the following cable from London. dated June 9: “Frozen meat: Market weak. Any change in price is in favour of buyers. In view of congested store- and heavy quantity arrivals and afloat, yet to be marketed, likely to be a full in prices frozen mutton and lamb.” AUSTRALIAN MARKETS. MELBOURNE, June 8. The millownors have increased the price of Hour by 10a per ton. It is now £2O 7s Gd. • Rian and pollard have been reduced by 10s per ion to £9. MELBOURNE, June 10. The hides market is firm, at an advance of 4d to id per lb all round.

Bailey.—English, 4s 3d, 4s 4d; Cape, 3s 3d, 3s 4d. Oats, 2s 4d, 2s 6d. Potatoes, £4, £5. Onions, £2 10s, £3. SYDNEY, June 9. Oats: Algerian feed, 3s 3d; white, 3s Cd. Maize : Yellow, 4s 6 1 ; white, 4s 3d. Potatoes: Tasmanian. £5 10s to £7. Onions: Victorian, £~. ADELAIDE, June 9. Oats, 2s Gd, 2 a Bd. NEW ZEALAND IjgODUCE. The New Zealand Loan and Mercantile Agency Company lias received the following cablegram from London, dated, the. Bth inst.: Tallow. — \Ye quote present spot values for tlio following' descriptions: Fine mutton, £1 1S» per cwl ; good beef, ill JGs; mixed, £1 7s 9d. Quieter demand. Butter. —New Zealand: Choicest salted, good demand; secondary, market slow. Cheese. —Market quotation is £5 16s per cv. t ; market fully stocked, and as arrivals continue large, prices are likely to weaken. Frozen Mutton. —Gfd to 8;■ 1 per lb. Frozen Lamb.—ls 2d per lb. Frozen Beet—Hindquarters, -IJd per lb; forequarters, 3Jd per lb. Market dull. O AMARU MARKETS. (FROM OCR Own COKn.ESPONDEXT.I O AMARU, June 11. There is still little to be reported in connection with the local markets. One significant point is that the deliveries of wheat have dwindled down to small clearing-up lots. Though there may be a few holdings still, it is clear that, so far as North Otago is concerned, the output of' this year’s harvest has passed out of the hands of growers. Of that output, a large proportion was secured by southern millers, and, while they at present hold fair stocks, it is quite certain that local millers will require, ere the cereal year is a great deal older, to draw supplies of wheat from outside sources. It is now becoming evident that the dominion's

wheat supply is insufficient to meet its needs until the next harvest comes in, and that it will again become necessary to import. The improvement in oats reported last week has been more than sustained, and a fair amount of business has been done. A: the beginning of the week A grade Cartons were secured at 2s 9:1 and 2s 10! net and B grade at 2s Gd. but later values advanced, and a number < l purchases of A grade were made at 2s lid net and 3s, less commission, as at country stations, while 3s net was given, at country stations, for good heavy milling samples. Algerians are not in so much. favour, and a line suitable for seed changed hands at 2s Gd, at a handy siding, while an ordinary feed sample was sold at 2s 3d net, with delivery in Oarmiru Both Chevalier and Cape .Barley are on the market, but have not found any buyer. A line of linseed was placed at if) per ton net, on trucks No transactions in either potatoes or seeds are reported. SOUTHLAND MARKET REPORT. (From Oun Own Oorkespondext.) INVERCARGILL, June 11. Values have increased during the week, and it seems as if there is something in the nature of speculation going on between the merchants. Yesterday, the first market day for Friday, though not bringing a great influx of farmers to town, was certainly responsible for changing hands of more oats than i in any other week during the season. Up to 2s lo! on trucks was freely given for A grade Cartons, and this price was even J slightly exceeded at handy stations. This is ! not only above parity of London values, but I is also in excess of f.o.b. rates to the north, j Merchants naturally are becoming a little anxious about their supplies lor seed purj poses, and this probably is the reason for j the sudden move in values, e Chaff. —A fair quantity has been offering, and merchants lave now somewhat increased their rates. Although the value is nominally £3 16s on trucks, an ext*a prime lot at a

fairlv handy station would probably demand £4. Ryegrass.—The movement started come two to three weeks back is still maintained, though for ryegrass itself merchants do not now seem so anxious to operate-. Kcallv well-dressed 20;b seed from the- mill has changed hands at 2s l‘,kl per bushel on trucks. There is a keen demand for Italian, which is undoubtedly in short supply, and for this 3s 3d peer bushel has been given on trucks.

. P er cent. . Imp. Last week. ' This week. . Con £47 0 0 £40 5 0 o per cent. Imp. War Loan ... 88 10 0 88 5 0 per cent. Imp. War Loan ... 88 0 0 88 0 0 1 5_i per cent. C’vre aith Loan ... 99 2 6 99 95 0 . p >£ per cent. C’we a 1th Loan ... 35 0 0 0 0 x.s. w. ■ 1338, Jan. -July ... 77 G 15 (J N.B.W, Jan.- : N.S.W. N.S.W. X.S.W. . ?»£’ July ej's s, 1335-50, April 1335, April-Oct. ... 65 67 102 0 15 15 17 0 0 0 6 61 67 103 10 15 10 0 0 0 0 0 Vic. 4' s, 1321-26, Jan. July ... 87 5 0 86 0 0 Vic. r s, j 23-40, Jan. Jan. -July ... 63 0 0 63 0 0 v ,i°* >, 1!! -3-40, -July ... 56 15 0 56 0 0 Q’land 4’s, 1324, Jan.July ... 90 15 0 83 2 0 Q’larnl Q’la nd 3 Vs, 3’s, J 323-40, Jj 1322-47, .7 a in.-.July n.-Julv 83 0 0 0 0 87 17 6 N.Z. 4 * X.Z. 3. a, 1323, M i-’s, 1340, J ay-Xo v. an.-.lulv 84 70 15 0 0 84 69 10 12 0 ft X.Z. 3* S. A. 3 s, 1.1-1 |*s, 1 <• -'Piil-'H 316 or aft ■tuher ... 60 G9 0 0 0 0 60 68 59 0 0 0 0 S. A. 3' s, 1:1. ■>0, Jan.-.Inly 50 0 0 0 0 T:»s. 3.^ 13 20-40, Jan. -July ... 70 0 0 69 0 0 Tas. 3* s, 13: 10-40, Jan.July ... 63 0 0 63 0 () W.A. 3 •V?, 1320-33 , Ma y-July 72 0 0 72 0 (j W.A. 3 ’s, 1315-35. May -Xoy. ... 67 0 0 68 0 0

abilities, j)or cent Note circulation Government deposits 11.83 120,0115,000 16.506,000 12.30 128,280,000 17,669,000 Other deposits Government securities 133,170,000 68,556,000 133,287,01)0 73.276.000 Other securities Short loons, 5 po r ** bills, nominal, 5J per cent. 81,259,000 ecut.; three 76,310,000 months'

Paris (fr.) Tar. June 6. June 9. 2X22J 47.27 47.27 Christiania (kr.) Stockholm (kr.) 18.159 18.159 21.55 16.91 25.60 16.99 Montreal (clol.) 4.86 4.27 4.19 New York (dol.) 4.86 ;:.80£ 3.68 Sf 254 Yokohama (yen) 24* 29$ Hongkong (dol.) Berlin (mark) 331 29.43 30 252 Calcutta (rup.) ... ... 10 to gold sov. 1*1 15*

Lnst > areok. This wvok. -t per cent. Imp. fori. £46 5 0 £46 0 0 5 per cent. Imp. War I.oan ... 88 5 0 88 17 6 8.J per cent. Imp. War Lean... 88 0 0 88 5 (J 51 per cent. C’wealth Loan... 09 5 0 99 0 0 *4 Per cent. C’wealth Loan ... 95 5 (J 95 2 6 N.8.W. 4V, 1058, Jan.-.Iulv ... 75 15 0 70 O 0 -VtvW;. 34V, 1935-50, Jan.-july 04 10 0 04 10 0 X.S.W. 3V, 193.5, April-Oct.... 07 15 0 07 10 (> N.S.W. SJV 95 15 0 90 0 0 VS.W. 64V 10.5 0 (J 102 17 6 Vic. 4's, *1921-90, Jan.-.lnly ... 86 0 0 so 2 6 Vic. :t;’s, 1929-40, .Tan.-July... 03 0 0 02 15 0 Vie. 3 V. 1929-49, Jan.-Julv 56 0 0 56 0 0 Q’land 4’s, 1!)24, Jan.-July ... 89 2 0 89 O 0 Q'laml Si’s, 1921-24, Jau.-'.Tuly 87 17 0 87 10 0 Q’laml 3's, 1922-47. Jan.-July 56 7 6 56 7 6 X.Z. 4’s, 1939, Mey-Xor. ... 84 10 0 81 12 6 1N.Z. .'it’s, 1940, Jan.-July 09 12 0 69 12 6 X.Z. 3V, 1945, April-Oct. 00 0 0 60 0 0 S.A. 3’s, 1930, Jail.-July 51 0 0 52 0 0 S.A. Si’s, 1945 or after 08 0 0 08 0 0 Tas. Si’s, 1920-40, Jan.-.Jiilv ... 09 0 0 69 r> Tas. 3V, 1920-40, .Tan.-July' ... 63 0 0 03 o o W.A. 34V, 1920-3.5, Mav-j'tilv 72 0 0 72 0 IV.A. 3’s, 1915-35, May-X-v.... 08 0 0 68 0 0