COMMERCIAL CABLEGRAMS

Otago Witness, Issue 3755, 2 March 1926, Page 22

COMMERCIAL CABLEGRAMS

LONDON METAL MARKET. LONDON, February 25. Copper: Standard, £59 6s 3d; spot, £6O 6s 3d. Lead: Spot, £33 5s 8d; forward, £33 15s. Spelter: Spot, £35 10s; forward, £35 5s Bd. Tin: Spot, £291 2s 6d; forward, £2Bj 7e 6d. Silver: Standard, 30|d; fine, 33 3-lCd per FOREIGN EXCHANGE RATES.

RANK OF ENGLAND RETURN. LONDON, February 25. The Bank of England return for Wednesday wn6

Tv« note circulation has riven from £140,488,000 l«st week to £141,138.000 this week. The pvopnrUcn of re?srvc to liabilty is 18.80 compared with 18.30 last week. Short loans are quoted at 4 per cent, aivi three month bills at 4$ per cent. Go7*ayM }• NT 6ROUKIT7ES. LONDON, February 25. The following are the latest quotations for Gov-se-T.rivea, compared with the prices rnl?r*e lent week

LONDON WHEAT MARKET. LONDON, February 23. Wheat cargoes have firmed 3d to Gd on improved demand. La Plains and Kafiristan arc quoted nt 57b 3d Parcels are steady aud there is good business in Australian’s outposts at better prices. By the Now Zealandic and by n Victorian vessel unnamed, 58s 4ld. by the Mongolia, 48a; by the Medic, 67b 10Jd; by tho Westmoreland and flie Carinna, 67s 9d; by tlie Buteshire and the City of Hankow, 57s Gd; by tlie Port Laurie, 57s 4sd; by the Port Lincoln, 67s 3d, by the Northumberland (bags and bulk), 575. Liverpool futures: March 11s Gid, May Hs 4gd, July 11s Rid.

February 25. Wheat cargoes are quietly steady, and prices are unaltered. Parcels opened with a quiet market, which was steady at the close. Liverpool futures: March Us sd, May 11s July lie 2id per cental. CHICAGO WHEAT MARKET. NEW YORK, February 24. Chicago wheat quotations: May, new 167 J cents per bushel, old IGSJ; July 145 J; September, 13Sjj. February 27. Chicago wheat: May, new 163 J, old 161}; July, 1423; September 135 g cents per bushel. LONDON MARKETS. LONDON, February 27. Sheep.—Canterbury light, 6sd; medium, 6Jd; heavy. 6d. North Island Unlit, 64d; medium, 6d ; heavy ssd. New Zealand ewes, 4id; Australian firsts, 4Jd ; seconds, 4 3-8 d ; owes, 4Jd; Argentine firsts, light, 5Jd; medium, sd; heavy, 4d; ewes, Lambs.—Canterbury light, lOd ; medium SJd; heavy, 7d; seconds, 7 Id; other solccteds, light, lOjd ; medium, IOJd ; North Island firsts, firsts, Victorian, 7 3-8 d; others, 63d; seconds, Victorian, 7 7-8 d; others, 6ijd; thirds, 6 5-8 d ; Argentine seconds, 6Jd. Frozen Beef.—Nominal. New Zealand fores, 3d ; hinds, 4d; Australian fores, 3d; hinds, 4d; chilled Argentine fores, 3Jd; hinds, sd; Uruguay ores, 2d; hinds, 4sd; others, unchanged. Cotton.—March, 9.65 d per lb. Rubber.—Para, 2GJd ; Plantation smoked, 26d. Jute.—March-April, £sl 2s 6d per ton. Hemp.—February-April, £39 per ton. Copra.—February-March, £2B 10s. Linseed Oil, £32 per ton. Turpentine, 63s 3d per cwt. AUSTRALIAN BUTTER. MELBOURNE, February 22. The wholesale price of butter has been advanced by 9s 4d per cwt under the Paterson scheme, the advance to take effect throughout the Commonwealth. DAIRY PRODUCE. LONDON, February 25. Butter is quietly steady. New Zealand choicest salted, 1745; Australian, 1665; unsalted, about 2s premium; Danish, 2025. Cheese is quiet. New Zealand white, 101 s; coloured, 103 s; Australian, white and coloured, SBs to 100 s. NATIONAL MORTGAGE AND AGENCY COMPANY. LONDON, February 23. The National Mortgage and Agency Company of New Zealand, after contributing £3491 to the staff Provident Fund, shows a credit balance of £51,949, carrying forward £20,699. February 23. The National Mortgage and Agency Company of New Zealand has declared a final dividend of Is 6u, with a bonus of 2s, both tax free. THE PRICE OF GOLD. LONDON, February 23. Fine gold is quoted at £4 4s lOd an oz.— LONDON SHARE MARKET. LONDON, February 23. Bank of Australasia, £l4 3s 9d; Bank of New South Wales, £42 10s; Union Bank of Australia, £l4 19s 3d; National Bank of Australasia, 1755; National Bank of New Zealand, 137 s 6d; Bank of New Zealand £92, shares 55s 6d; New Zealand Loan and Mercantile Debentures, £73 10s, ordinary stock £95 10s. P. AND O. DEFERRED STOCK LONDON, February 25. P. and O. deferred stock is quoted at £242. LONDON COUNTY COUNCIL LOAN. LONDON, February 26. Seven millions were subscribed in one day f or the new London County Council’s 5 per cent, loan, issued at £99 10s. AUSTRALIAN MARKETS. MELBOURNE, February 26. Hides: The market-is firm at late rates. Wheat, 6s 2£d; millers’, 6a Id to 6s ljd. Oats: Milling, 3s lid to 4s; feed, 3s 6d. Barley: English, to 4s 6d; Cape, Ss 9d. Potatoes, £9 to £9 15s. SYDNEY, February 25. Wheat: Bagged, 5s 6d; bulk, 5s 4d at country stations, but no business. Oats: Tasmanian Algerian, ss; white, 6s. Maize : Queensland, 5s 7d to 5s 8d; South African, 6s. Potatoes: Victorian, £l3; Tasmanian, £lO to £l6. Onions: Victorian, £l6; New Zealand, £ls. ADELAIDE, February 25. Wheat: Growers’ lots, 5s 9d to 5s 9£d parcels, buyers 6s 2d, sellers 63 2Jd to 6s 3d Oats, 3s to 3s 3d. BRADFORD TOPS MARKET. LONDON, February 25 The Bradford market is cheerful. Merinos are firm and crossbreds are slightly harder. Sixty-fours. 47£d; sixties, 43Jd; fifty-sixes, 33d • fifties, 26d; forty-sixes, 22d; forties, 21d.’ At the Antwerp wool sales 5685 bales were offered aud 1273 were sold. Prices were about on a parity with the January figures for the London sales. SYDNEY WOOL SALES. SYDNEY, February 22. At the wool sales there was keen general competition for all sections. The market is practically unchanged. A good clearance was effected in greasy merino, which sold up to 27 id. February 24. The seventeenth series of wool sales was concluded yesterday. There was good general demand, and good clearances were effected at prices fully equal to iate rates. Greasy merino sold to 26Jd. Tho next series of sales commences on March 8. NAPIER WOOL SALE. NAPIER, February 24. Ninety per cent, of tlie cataloguo of about 20,000 bales was sold under the hammer at tho fourth wool sale of tho season lu Napier to-day, when tho prices, taken all round, showed an improvement from par to a halfpenny on the Auckland rates. The bidding was particularly spirited and the competition keen. For good classes of wool America operated freely at advanced limits. Bradford was a strong competitor for topmaking sorts, whilst the Continent pushed tho prices of pieces and bellies. There was a bettor demand for lambs’ wool, mainly from the Continent. Growers generally arc very well satisfied with tho prices ruling. The following in the official range of prices:— Down: Avorage, 14d to IGJd. Medium halfbred : Average, 14d to 15d. Coarse halfbred r Super, 157 d to lOId; average, 13d to IBJd ; inferior, 10Jd to ll^d. Fine crossbred : Super, 14Jd to 17Jd; average, 12Jd to 14d; inferior, 9Jd to Hid. Medium croosbred: Super, 14id to 16d; avorage, lid to 13d; inferior, BJd to 10|d,

Coarse crossbred : Super, 12Jd to 13Jd; average, 9jd to lljd; inferior. 8d to 9Jd. Low crossbred : Average, 9|d to lid ; inferior, BJd to 9Jd. Hoggets: 48-50's. 13 to 163 d; 46-48's, 11-id to 15Jd ; 44-46’s, lid to 14id ; 40-44’s, lOd to 13id. Lambs: 44-50’s, 12d to 16Xd ; 40-48’s, 9d to 13Jd. Seedy and inferior, 8d to 10Jd. Crossbred pieces: Super, 10£d to llld ; average, 8d to 9sd; inferior, 5Jd to 7|d : necks, lOd to 12Jd. Bellies: Good to super, 8d to lOid; inferior, Cd to 7d. Crutchings: Good to super, 8d to 9£d; low to inferior, 5d to 7id. Locks: Crossbreds, 4Jd to s^d. HIDE SALE. Messrs Waters, Ritchie, and Co. report as follows:—We hell our monthly sale of hides at our stores, Crawford street, on Friday morning. There was the usual attendance of buyers, but competition except for medium and heavy ox hides was very disappointing, prices receding fully Id per lb, from those of the last salp The fall was most noticeable on all descrip tions of cow hides, which for the last few months have ruled considerably above the parity of ox. On the other hand, good ox bides showing fair substance were very keenly competed for, and advanced id to 3d per lb. In our catalogue of 1270 hides were some lines of particularly good substance, and for these we obtained up to 123 d per lb. The following were some of our best prices:—Ox, 3 771 b, 123 d; 1 801 b. 12*1; 12 751 b 4 113 d; 23 051 b, 11 5-8 d; 1 801 b, llid; 35 641 b, Hid; 9 641 bll l-8d; 9 731 b, lltU 2731 b, 10 5-8 d; 4 7Glb 10 5-Sd; 3 731 b. 10Id; 5 Otilb, 10*-3; 1 571 blO l-8d; 1 701 b, 9 7-Sd; 2001 b, 03d; 117 031 b, 9Jd; 26 721 b. 9 5-8; 13 631 b, 9Jd; 2671 b, 9Jd; 12 611 b 93d ; 2721 b, 9 1-Sd; 10 651 b, 9d; 43 561 b, BJd; 13 551 b, Sid. Cows: Ten extra stout, lOd; 163, 6}d; 9 511 b, 6Jd; 27 541 b, 6Jd; 2 551 b, 6 1-SJ; 4 501 b, Gd; and 23 451 b at 6d per lb. SALE OF HORSES. The Otago Farmers’ Co-operative Association of New Zealand (Ltd.) reports that the first monthly sale of the year in their Horse Bazaar, Crav.ford street, was held on Friday last, when an entry of 120 horses was offered to the public. Consignments were forwarded from Otago Central, Southland, and Canterbury as well as surrounding districts which represented all classes of horses, including a sprinkling of good, useful sorts for town and country work. There was a good attendance of buyers who competed well for specially good young sorts, showing size, weight, and quality, but other sorts were of dragging sale and met with an indifferent demand, especially aged and done sorts and light harness horses and hacks that had little to recommend them.

LONDON February 25. The exchange rates re as follows:— far. Feb. 22. Feb. 25. Taris, fr. to £1 2-5.22) 135.65 133.75 Brussels, fr. to £1 .. 25.22) 107.00 107.00 Oslo, kr. to £1 18.159 32.50 22.62 Copenhag n. Ur- to £1 .. 18.150 IS. 70 18.73 /Aockhol m kr. to £1 .. 18.159 18.17 18.13 Berlin, reichrakn. to £1.. 20.43 20.42 20.43 dol to £1 .. 4.862 4.88) 4.875 York, dol. to £l .. 4.86J 4.86H 4.865 Horae, lire to £1 25.22) 120.90 121.00 Yokohama efc. to yen . 24.58 22 J 22) Calcutta, st to rupee . 24.00 18 3-IB 18 3 1H Rcnckong st to dol. .. 28) 235 iuisterdam, guild, to £1 12.107 12.14 12.133 Batavia. guilders to £1 12.107 12.08 12.08 Governed by prioe ot silver.

Note Kotos ISSUE DEPARTMENT, circulation £141,138,009 21,798,000 £162,936,000 Govoi Other Go! 1 nment debt securities coin and bullion £11,013,000 8,735.000 143,186,000 BANKING DEPARTMENT £162,936,00-1 Proprietors’ capita] Public deposits Government deposits Hc.’t, seven day and other bills £14,553,000 106,176,000 16,065,000 3,610,000 £140,404.000 Ollier Kotos Go'! i.l ntnent securities £38.243,000 79,056,000 21,798,000 1,307,000 £110,404.000

fist week. Thi* week. Tn:pc.rial tTonscIr, 2$ p.c. £55 15 0 £05 15 *\’a» l«.n, 8 p.fr., 193847 101 10 9 101 7 fi War Iren, SJ pc.. 1025-CS 97 : 0 97 0 Ccr.Tvraioti k-iui, ?.* p.c. 76 5 0 74 15 0 6 pc, 1951-41 102 15 0 102 12 6 0>«H.li p.c.. 1:192-27 101 7 6 101 12 6 H.Z G jvc. f 1M3R 31 ... 107 P 0 107 0 0 K.Z. 4 p.c., 1929 97 5 97 5 0 y.z s& jvc , 1940 84 7 6 84 7 fi W.Z. .1 p.c., IMS 7G 5 0 77 0 0 .V.S.W 6i p.o., 193040 103 10 103 7 fi N.S.W, G p.o., 193040 102 12 6 102 7 6 y.S.W 5J p.c. 1922-32 101 5 0 101 15 0 N.S.W. 4 p.«, 10.13 ... 91 0 0 91 0 0 N.S.W. >i lUSO-W S3 10 0 83 0 B\* v.\ ! p.o., ?a*s ... 75 0 0 74 17 G Vio. 5$ p.c, B»9 ... 702 0 0 101 15 0 Vic. 3$ p v., I93I-M . 96 5 0 96 fi 0 Vie S pc.. 192940 ... 72 0 0 71 17 6 7So. 3ft p.c.. 192949 ... 78 12 6 79 0 0 Q’lnnd 6 p.c.. 193040 102 12 6 102 7 6 Q'lani 3* p.c.. 1030 ... 92 7 6 92 7 6 Q’lund 3 p.e.. 1922-47 ... 68 17 0 68 17 6 S.A Gi p.a. 193040 ... 103 7 G 103 5 0 8.A. 3| p.c.. 1939 82 5 0 82 7 fi a A. S p.c., 19111 or uftcr 60 10 0 60 5 0 W.A. R p.c.. 1930-40 102 i5 0 102 If. 0 W.A. fl.J p.c.. 1920-33 86 12 6 86 12 fi W.A. 3 p.c., 1915-35 ... 83 10 0 83 15 0 Tas. Gi p.c.. 193040 ... 103 7 6 103 7 fi Tua. 34 p.c., 1920 40 ... 83 0 0 83 5 0 Tas. 3 p 0.. 1920 40 ... 79 0 0 78 10 0