COMMERCIAL CABLEGRAMS.

Otago Witness, Issue 3594, 30 January 1923, Page 15

COMMERCIAL CABLEGRAMS.

C OVERNMENT SECURITIES. The following are the latest quotations for Government securities, with a comparison with those

BANK OF ENGLAND RETURNS. LONDON, January 25. The Bank of England returns for the week ended January 25 afford the following comparison, with those of the previous week•

January 27. The exchange rate on Paris is 73 francs to the pound, and on Berlin 196,000 marks .iv the pound.- ‘ AUSTRALIAN WHEAT REDUCED. SI7DNEY, January 24. The voluntary wheat pool has reduced the price of wheat by Id to 5s BJd. ENGLISH MARKETS. LONDON, January 22. N—:The Bradford wool market is very firm. Medium and low crossbreds show a further ■ advance. Business is quiet, pending the opening of the London sales.—A. and N.Z. Cable. Waihi, 31s lOd, 325. Waihi Grand Junction, 10s 6d. ” Copper: Spot, f 64 Is 4d; forward, £6l 13s 9d. Lead: Spot, £26 10s; forward, £26 ss. j Spelter- Spot, £35 10s; forward, £35 12s 6d. Tin: Spot, £182,3s 9d; forward, £lB3 16s W. ' •, j Silver, 2s BJd per ounce, d , January 24. " At the t-al]<Jw sales 832 casks were' offered aixl 511 sold. (s Mutton, 42s 6d—3Bs. ; Beef, 42a 6d—37s 6d. At the wool sales there was an average Selection in all classes, ' and good competition. The opening prices rwre maintained. January 25. 1 Waihi shares: Buyers, 404 9d; sellers, 30s 6d. Butter: The market i* quiet. Australian and New Zealand are unchanged. Danish is easier owing to the adverse Continental exchanges at about 204 s to 2065. Ghceee.--There is a fair trade. New Zealand, 124 s to ,1265; Australian, 120 s to 1225. | January 25. Wheat cargoes are inactive at 6d decline Parcels are in fair request. The spot trade Is dull. Australian find New Zealand are Hot offering. Flour is slow and easier Australian, ex ■tore, 40s to 40s 3d Oats are dull. New Zealand Gartone—•pot 34s to 375 : Mareh-April 335. Barley is unchanged. Peas: Maples slow, blue firmer; spot, 340 s to 3SOs; Mareh-April, 320 sto 3605. Beane are unchanged. Sugar: Granulated, 48s IOJd. January 27. Wheat cargoes are dull, and have declined •d to 6d. Steamer parcels have recovered 8d to 6d owing to the speculations. Rubber: Fine hard Para, 18Id per lb; plantation, first latex crepe, 17jjd; smoked ■ribbed sheet, 17|d. Jute: Native first marks, January-Febru-*ry shipment, £33 a ton. New Zealand hemp: January-March shipment, £33 a ton. Copra: South Sea bagged, January-March shipment, £25 a ton. Linseed oil, £39 10s a ton—equal to 3s 2d ■ gallon. Turpentine, 105 s cwt —equal to 7s a gallon. Sheep: South American light, BJd; lambs, South American light, IOJd, heavy 9 id; other meats are unchanged. SHARES AND EXCHANGES. Lt)NT>ON, January 23. Bank of Australasia, £l3 6s. New South Wales, £35. Union Bank, £l4. National Bank, £6 Is 3d. Bank of New Zealand, 56s 3d. New Zealand Loan and Mercantile (ord.), £74 10«. Paris, 71.85 francs to £l. Berlin, 90,000 marks to £1. —A. and N.Z. Cable.

NEW SOUTH WALE'S LOAN. LONDON, January 23. The New South Wales loan of £8,000,000 has been subscribed. The lists have closed. AUSTRALIAN MARKETS. SYDNEY, January 25. Oats: Algerians, nominal. Giants and New Zealand Gartons, 4s 6d—4s Bd. Maize: South African, 5s 9d—6e 6d. Potatoes: Tasmanian, £10; local, £7. Onions, £7 10s. ADELAIDE, January 25. Oats: Feeding, 3s Id—3s 2d; seeding, 3s 6d—3s Bd. Oats: Feeding, 3s Id—3s 2d; seeding, 3s 6d—3s Bd. MELBOURNE, January 25. The demand for hides was keen. Prices for all stouts and heavies were in sellers’ favour. Lights and kips declined from Jd to id. Oats: Feed, 3s 6£d to 3s 7Jd. Barley : English,' 4s 4d to 4s 6d; Cape, 2s lid to 3s. Potatoes, £7 to £7 15s. Onions, £4 10s to £5. LONDON WOOL SALES. LONDON, January 23. The wool sales opened with a strong demand at 5 to 10 per cent, above December rates. At the wool sales 12,586 bales were offered, of which 7706 were New Zealand. There was an average selection,' and a record attendance from all quarters. Bidding was keen. Yorkshire buyers were extremely active in all classes, and the United States bought the best crossbreds freely. Continental buyers were somewhat reserved, owing to the state of the exchanges. Combing merinos were 5 per cent, above the December closing rates. Scoured lots were unchanged, and faulty lots showed some irregularity. Fine crossbreds are 5 per cent, up, mediums 15 per cent, and low 10 per cent. J anuary 25. At the wool sales there was a better selection of merinos, chiefly Continentals, and there was a spirited market at firm prices. New Zealand lambs’ wool, "Pareora” realised 27d. The Bradford market was very firm, but little business was passing. Sixty-fours,' 63d; 60’s, 56d; 56's. 38d; 50’s, 29d; 48’s, 23d; 46’s, 19id; 40’s, 17 id. T anuary 27. At wool sales there was a poor selection of combing merinos, and a fair selection of crossbreds. There was good competition at full late prices. Messrs Murray, Roberts, and Co. have received the following wool market cablegram from their London agents, dated January 23: "The sales opened strong. There ■was a large attendance of buyers and competition was brisk. The principal buyers were America.. and Yorkshire, Greasy merino wool, suitable for the Continent, the market advanced,..s per cent., and wool suitable for Yorkshire advanced 5 per cent. Good scoured merino: The market advanced per cent. ; inferior „scoured merino, the market advanced 5 per ce&it.; crossbred greasy comeback, fine, the mdlket advanced 5 percent.; medium and coarse, the market advanced 10 to 15 per cent; scoured the market advanced 5 to 10 per cent. .'■“Slips'‘flue crossbred. the market advanced 10 per cent; medium, 10 per cent; and coarse, 5 per cent/” Messrs Murray, Roberts, and Co. have received the following wool market cablegram from their London agents, dated January "The market is very firm. Compared with closing rates of last London sales crossbred greasy, medium and coarse of 'good lustre and breed, advanced 15 per cent. Lambs; The market advanced 10 to 15 per cent.’’ BRISBANE WOOL SALES. BRISBANE, January 24. The wool sales have been resumed. The offerings showed the effect of the prolonged dry spell. Competition was keen. Prices for super merinos increased by 5 per cent., good from 7i to 10 per cent., and inferior from 10 to 15 per cent. Skirtings increased from 5 to 10 per cent.

ruling last week: — Last week. This week. £ 6. d. £ 8. d. 2\ per cent. Imp. Consols ... 56 10 0 86 10 0 3J per cent. Imp. War loan, 1025-28 ... 06 10 0 9G 10 0 5 per cent. Imp. War Loan. -1029-47 100 15 0 101 2 6 34 per cent. Conversion Ijoan 76 15 0 76 15 O 54 per cent. C’wealtli Loan. 1022-27. Feb.-Aug 101 7 c 101 7 6 6 per cent. C’wealtb Loan. 1031-41. June-Dee 106 7 6 106 12 6 N.S.W. 3'S. 1035. Apl.-Oct. ... 75 0 0 75 2 6 N S.W. 3.J's, 1930-50, Jan.Julv i 0 10 0 80 0 0 N.S.W. 4's, 1033, Jan.-July ... 88 17 6* 80 0 0 N.S.W. 5J'S, 1922-32, MarNov. 101 15 0 101 15 0 N.S.W. 6’s, 1930-40, MayNo v. ... .' 105 0 0 105 5 0 N.S.W. 6i's, 1930-40, Feb.Aug. 107 12 6 107 17 6 Vic. aj’s, 1930-40, Apl.-Oct. 103 5 0 10.3 7 6 Vie. Si’s' 1921-6, Jan.-July 96 2 8 06 0 0 Vic. Si’s, 1920-40, Apl.-Oct.... 78 5 0 78 7 6 Vic. Si’s, 1929-40, -Jan.-July 70 10 0 70 10 0 Q'laml ' 6’s, 1930-40, Feb.Aug. 103 10 0 103 10 0 Q’lan.l 4's, 1024, Jan.-Julv... 86 12 6 87 10 0 Q'laml 3i's, 1024, Jan.-Julv... 08 7 6 99 0 0 Q’lanl Si’s 1030 07 12 6 08 0 0 Q’laml 3’s, 1922-47, Jan.-Julv 65 M 0 66 10 0 N.Z. 6’s, 1036-51, Feb.-Aug.... 108 12 6 108 17 6 N.Z. 4’s, 1020. May-No'v ... 05 0 0 95 7 6 N.Z. 3.Vs, 1040, Jan.-July ... 82 17 6 82 12 6 N.Z. 3’s, 1945, Apl.-Oct. ... 73 15 0 74 0 0 S A. 3’s, 1930, Jan. July ... «’l 7 6 61 17 6 s!a. 4A’s, 1945 or after ... 80 15 0 82 5 0 S.A. 6i’s, 1020-40 107 15 0 107 10 O Tas Si's, 1920-40, Jan.-Julv 82 5 0 82 10 0 Tas! 3’s, 1020-40, Jan.-.Tulv... 73 0 0 75 10 0 Tas. 6i’s, 1030-40, Feb.-Aug. 107 0 0 107 7 6 W. A. "Si's, 1920-35, MayJulv 93 •< 0 82 »S (• W.A. 3's. 1015-35, Mav-Nov. 78 15 0 78 1 0 W.A. C's, 1930-4;, Jan.-July... 10 0 104 17 G

Jan. 18. Jan. 25. £ £ Coin and bullion ... . ... 125,661,000 125,662,000 Bcserre . ... 24,705,000 25,141,000 Proportion of reserve to liabilities, p.c. 17.15 19.98 Kote circulation ... . 121,236,000 120,799,000 Government deposits ... 10,408.000 11,372,000 Other deposits ... . ... 133.602,000 114.431,000 Government securities • 72,110,000 53,445,000 Other securities ... , ... G5,232,000 65,238,000 ■ Short loans, 1$ per cent.; three months’ bills,

Si per cent. ... FOREIGN EXCHANGE RATES. •vl LONDON, , January 25. . . London on Par. Jan. 22. Jan. 25. fr. to £1 ... . .. 25.225 72.85 72.07 Christiania, kr. to £1 . .. 18.169 24.87 24.93 Copenhagen, kr. to £1 . .. 18.159 24.97 23.70 Rtockholm, kr. to £1 .. 18.159 17.33 17.37 Berlin, mark6 to £1 .. 20.43 100000.00 98500.00 Rome, lire to £1 ... 22.221 984 96® Montreal, dol. to £1 ... 4-86 2-3 4.70 4.70 Mew York, dol. to £1 ... 4.86 2-3 4.655 4.654 JJongkong, dol. to £1 * 27*d 28 Jil■Yokohama, st. to yen .. . 21.50 25.14(1 25.1 Calcutta, st. to rpe. 10 to gold £1 16J 16* ♦Determined by price of silver.