COMMERCIAL CABLEGRAMS.

Otago Witness, Issue 3757, 16 March 1926, Page 21

COMMERCIAL CABLEGRAMS.

LONDON METAL MARKET. LONDON, March 11. Copper: Spot, £SB 18s 9d; forward, £59 18s 9d. Lead: Spot, £3l 8s 9d; forward, £3l 13s 9d. Spelter: Spot, £34 6s 3d; forward, £34 7s 6d. Tin: Spot, £238 8s 9d; forward, £286 11s 3d. Silver: Standard, 30 7-16 d; fine, per The lead imports were 22,632 tons (Australian 9746). The exports were 1329 tons, GOVERNMENT SECURITIES. LONDON, March 11. The following are the latest quotations for Government securities, oompared with the prices ruling last week: — Lost week This week.

FOREIGN EXCHANGE RATES. LONDON, March 11. The exchange rates are as follows';— Par. Mar. 8. Mar. 11.

BANK OF ‘ENGLAND RETURN. LONDON, March 11. The .Bank of England return for the wfcck ended Wednesday is as follows

ISSUE DEPARTMENT. Note circulation .. £141,247,000 Notes in reserve M M .. 22,811,000 £164,058,000 Government debt m •• £11,015,000 Other securities .. .. .. 8,735,000 Gold coin and bullion 144,306,000 £164,058,000 BANKING DEPARTMENT. Proprietors’ capital .. £14,553,000 Public deposits 10,756,000 Other deposits 102,5^1,000 Rest 7 day and other bills .. 3,741,000 £137,574.000 Government securities .. .. £39,255,000 Other securities ~ 74,183,000 Notes in reserve „ .. 22,851,000 Gold in reserve ~ 1,285,000 £137,574,000 The note circulation is £141,247,000 compared with £141,720,000 last week. The proportion of reserve to liability has risen from 19.70 to 20.20. Short loans are quoted at 4J per cent, and bills at 4 7-16 per cent. LONDON WHEAT MARKET. LONDON, March 10. Wheat cargoes are quiet and lower on the bearish biew of the Washington Bureau report; Sveajarl, 53s 6d; Luciston, 52s 9dParcels.are in small request and are weaker; ex Ulysses, 54s'» ex Hobson’s Bay, 52s 7Jd ex Port Campbell, 52s 6d. Liverpool futures —March (buyers), 10s May, I.os 6£d, July, 10s 7d per cental. CHCAGO WHEAT PRICES. NEW YORK. March 11. Chicago wheat: May, new, 1623 ; old, 161 J. July, 141 3-8. September, 135 1-8 cents per Lushel. March 13. Chicago wheat: May, new 165|, old 161|, July, September, 137 g cents per bushel. LONDON MARKETS. LONDON, March 11. Wheat cargoes firmed to Gd as the result of the American ad\ancc and better Continental inquiry. Sales were made at 53s 6d. Parrels are in quiet request and are 6d to Pd dearer. Lixerpool futures —March, 10s 9Jd; May, 10* 9^d; July, 10s 9|d per cental. The spot trade is quiet. Australian (ex ship) 56s Flour is dull—Australian (ex store), 43s 6d. Oats are quiet. A Gartons, 33s Gd. Teas. Maples are in small supply, with a good demand; Tasmanian,’Bss to 90s; New Zealand/75s to 80s. Blue 3 are almost unsaleable owing to the inferior quality, Tasmanian, 240 sto 3605; New Zealand, 240 s to 3405. March 13. New Zealand leans, 44s to 40s. Cotton r April, 9.34 d per lb. Rubber: Para, 2G£d; plantation smoked, 30Id. Jute: March-Apiil, £52 a ton. Hemp’ Jaauary-March, £39 a ton. Copra: Marcb-April, £29 a ton. Linseed oil, £3l a ton. Turpentine, 66s per cwt. LONDON MEAT PRICES. LONDON. March 13. Sheep: Canterbury light 6fd,' medium 6|d, heavy 6£d; North Island light medium 6Jd, heavy 6d; New Zealand ewes, 4d (all above new season’s); Australian ewes, Argentine heavy 4Jd, ewes 4di Lamb: Canterbury heavy 7id, seconds 7Jd: other selecteds, light 10|d, medium H)j|d; North Island firsts, 9^d; Australian -firsts, Victorian SJd, others 7Ad; seconds, Victorian 7§d, others 7£d; thirds, 7£d, Argentine fusts, light S£d, medium 7£d; seconds, 7d. Frozen beef (nominal); New Zealand fores SJd, hinds 4’d; Australian crops 3£d, hinds 4Jd; chilled Argentine fores 3id, hinds 6d; Uruguay: fores 22d, hinds sld; others unchanged. DAIRY PRODUCE. LONDON. March 11. Butter shows an improved inquiry, and prices are hardening. New Zealand choicest salted and unsalted, 1725; exceptionally good, 1745; Australian choicest salted and unsalted, -166 s ; exceptionally good, 168 s ; Danish, 188 s. Cheese is quiet. New Zealand white, 975, coloured, 98s; Australian, 95s to 975. LONDON RABBITSKIN SALES. LONDON, March 11. At the rabbitskin sales there was the smallest attendance for some years. A total of 2100. bales was offered, and about half of these were sold. The Continental demand was restricted by the financial conditions, but Germany took some furriers' sorts. The home trade was operating fairly strongly, but the Americans were less active than recently. Furriers’ sorts—New Zealand 5 per cent, below January ; Australian 10 per cent, below; best hatters, par to 5 per cent, cheaper; medium 5 per cent, lower; tan, 15 to 20 per cent, down; very common, 25 to 30 per cent, cheaper. PRICE OF BUTTER IN SYDNEY. SYDNEY, March 10. The wholesale price of butter has been increased by 4s Sd to 186 s 8d per cwt. LONDON TALLOW SALES. LONDON, March 10. At the tallow sales 861 casks were offered and 443 were sold. Prices were unchanged. PRICE OF GOLD. LONDON, March 11. Fine gold is quoted at £4 4s lid an ounce. TRUST AGENCY OF AUSTRALIA. LONDON, March 12. The Trust Agency of Australia declared a year’s dividend of 12J per cent, tax free. AUSTRALIAN MARKETS. SIDNEY, March 11. Wheat: Bagged, 4s lOd to ss, delitered at country sidings. No wheat, however, is being offered for sale. Oats: Tasmanian Algeriai). 6s; white, 6s. Maize: Local, 6s 6d; Queensland, 6s; South African, Cs. Potatoes: Tasmanian, £l4 10s to £l7; Victorian, £l4. Onions: New Zealand, £ls; Victorian, £l9.

ADELAIDE, March 11. Wheat: Growers’ lots 5s 5d to 5s Cd; parcels nominally 6s 10Jd to £s lid. Oats, 8s to 3s 3d. MELBOURNE, March 12. The hides market is strong, and in most cases there was Jd advance. Wheat is quiet, sellers are scarce, and buyers are indifferent. Prices, 5s lOd and 5s lid.

Oats: Milling, 4s; selected, 4s 2d; feed, 3s Gd and 3s Bd.

Barley; English, 4s and 4s Cd; Cape, 8s 3d.

Potatoes, £lO 10a and £ll. Onions, £l6 and £l6 10s. LONDON WOOL SALES. , , LONDON, March 9. The wool sales have opened. Prices ar« mostly unchanged. Slipes are rather easier. There was a large attendance of all section of the trade. A surprising feature was the support given to the medium croabreda and all Merinos by the French and German buyers, and also the good Home trade demand. There was an excellent selection of all combing aorta, and prices were firm at the February closing rates with a tendency m sellers’ favour. Short and faulty scoureds were more difficult to sell and were occasionally withdrawn, but prices did not decline. There was a good selection of crossbreds which attracted all-round competition, and late rates were fully maintained, the Continentals competing keenly. A somewhat inferior selection of scoureds and slipes declined 5 per cent, compared with February. Good Merino lambs tended in sellers’ favour. Shabbier Merinos and all crossbreds were unchanged. New Zealand “Tarata,” to 15Jd, average “Mae” 17£d and lOd. ■ . March 9. The Bradford market is extiemely quiet with practically no business. March 10. At the wool sales 11.213 bales were offered and about 9000 soid. There was a good selection, of which the fine kinds met with good competition, with prices favouring sellers, but medium and inferior sorts were rather irregular. Among medium scoured merinoa the withdrawals were frequent. At-the wool sales there was a good selection of all classes and competition was general, the opening rates being maintained. New Zealand "bank house,” top 241 d. average 23Jd. March 11. At the wool sales there was a good selection of all classes of greasies, and competition was maintained. Prices were unchanged. New . Zealand “Mount Stuart,” top 19Jd, average 18d; Tairiki, 16d and 15d. The Bradford trade is quiet, but fairly firm. New business is small. Sixty-fours, 48d; sixties, 44d; fifty-sixes. 33d; fifties, 25Jd; forty-sixes, 2Ud; foities, 21d. March 12. At the wool sales there was a good selection and better competition for crossbreds. Prices generally were unchanged. New Zealand “Titi” clip, 20d and laid. SYDNEY WOOL SALES. SYDNEY, March 8. The wool sales were resumed to-day, the market ruling very strong at the best rates of the previous series with a slightiy better demand for super lines. There was keen inquiry in all sections and good clearances were made Greasy Merino sold to 291 d. March 10. At the wool sales there was keen competition and a strengthened demand for m&dium fleece wools and good skirtings. The market showed no change from the previous sales of the week. Greasy Merino sold to 27*d. March 11. At the wool sales there was spirited bidding, and good clearances were effected. The market closed without change. Greasy merino sold to 29id. INVERCARGILL WOOL SALE. INVERCARGILL, March 12. The second and final wool sale of the season was held here to-day, when a catalogue of 6700 bales was submitted. There was a representative bench cf buyers and the quality of the wool considered, prices showed an increase of 2£d on last sales. The chief prices were: Medium halfbred 14£d to 16|d; inferior 12d to halfbred medium 12|d to 14£d; inferior lOfd to 12£; medium crossbred super 14 to 15§d; medium to 13|d; coarse 10§d to to 12£d; inferior 9£ to 10J; hoggett super 16d: medium 12|d to 15fd ; coarse ll|d to 12£d ; wether medium 1,2 d to 14d ; interior 10Jd to to 121; second crossbred 7£d to Sd; bellies, first crossbred 9d to lOd; second, crossbred to B£d; crutchings, first crossbred 6|d to 8d ; second crossbred s£d to 7£d; necks, first crossbred 10|d to 11-xd ; second crossbred 8d to 9|d ; matted 10id to lid ; locks, 3W to s£d : lamb, first combing 14£d to 17|d; second combing 11yd to 12-fd. SALE AT OWAKA. The Otago Farmers’ Co-operative Association of New Zealand (Ltd.) report:— We held our anual special sale of. lambs and ewes at Owal . on Tuesday last, when 2667. sheep were penned. There was a splendid attendance of buyers from the local and surrounding districts, and every pen offered met with spirited competition, and a complete clearance was made of everything offered, the sale showing a marked advance in the price ruling for rape lambs and sheep. The exporters and butchers took fat lambs from 24s to 30s. Rape lambs made up to 23s 8d; medium lambs from 16s upwards: two-tooth ewes to 34s 3d; six and eight-tooth ewes, 29s 7d; old ewes from 7s to 20s; wethers to 28s 3d.

Imperial Consols, 21 p.c ...•£54 10 0 *£54 10 0 War loan, 5 p.c., 1923-47 ... 101 10 0 101 10 0 War loan. 3$ p.c., 1925-28 ... 97 5 0 98 3 9 Conversion loan. 3$ p.c. ... 75 0 0 74 15 0 O’wealth 6 p.c., 1931 41 ... 102 10 0 102 12 6 P’wealtb 6J p o.. 1922-27 ... 101 12 6 101 12 6 N.Z 6 p.c.. I93fi-51 ... ... 107 0 0 107 2 6 N'.Z 4 p.c., 1929 ... 97 5 0 97 7 6 N.Z 3J p.c., 1940 ... 84 12 6 84 10 0 N.Z 3 p.c., 1945 ... *75 0 0 •75 5 0 N S W 6J po.. 1930-40 ... 103 5 0 103 12 6 N.P.W 6 p.c.. 1930-40 ... 102 12 6 102 17 6 N.P.W 6J p.o., 1922-32 ... 101 15 0. 101 17 6 N S W 4 p.c., 193? ... ... 91 0 0 91 0 0 N.P.W. 3* p.c.. 191:0-50 ... *82 0 0 •82 0 0 N.SW 3 pc., 1935 ... ... 74 17 6 75 0 0 Vio 5J p o.. 1930-40 ... ... *100 2 6 •100 0 0 Vic. 5 p.c., 1923-42 ... ... *98 15 0 99 0 0 Vic 4J p.c., 1021-26 ... Vic 3 p.C.. 1929-40 ... ... 96 0 0 95 17 6 ... 71 17 6 71 5 0 Via 3$ p.c., 1929-49 .... ....•77 5 0 •77 10 0 O’land 6 p.c., 1930-40 ». 102 7 6 102 12 6 Q'land 3) p.c.. 1930 ... ... 92 7 6 92 5 0 Q'laud 3 p.c., 1922-47 ... ... 68 7 6 69 0 0 S.A 6* p.c., 1930*40 ... ... 103 5 0 103 0 0 8. A 3J p.C., 1939 ... 82 15 0 82 10 0 P.A. 3 p.c., 1916 or after ... 59 10 0 69 10 0 W.A 8 p.c.. 1930-40 ... 102 12 6 102 12 6 W.A Jl| p.c., 1920-35 ... 86 12 6 86 15 0 W.A 3 p.c., 1915-35 ... ... 84 0 0 84 0 0 Tas 6J p.c.. ... ... 103 15 0 103 7 6 Tas. 31 p.c., 1920-40 ... ... 83 0 0 83 5 0 Ta*. 3 p.c., 1920-40 78 15 • Ex Interest 0 79 0 0

Taris, fr. to £l 25.22! 134.50 133.90 Brussels, fr. to £l "... 25i22! 107.00 107.00 Oslo, kr. to £1 18.159 22.74 22.35 Copenhagen, kr. to £1 ... 18.159 18.74 18.73 Stockholm, kr. to £1 ... 18.159 18.18 18,13 Berlin reichmkn. to £1... 20.43 20.41 20.41 Montrenl, dol. to £1 ... 4.861 4.88J 4.87! .Now- York, dol. to • £1 ... 4.86J 4.85! 4 1.86 1-16 Rome, lire to £l 25.22! 121.12 121.41 Yokohama, st. to yon .., 24.58 22 3-16 22| Calcutta, st. to n ipeo ... 24.00 18 3-16 181 ltonjjkong, rt. to Amsterdam, Ruild. aol. ... to £1 12.107 28! 12.11 27| 12.13 Batavia, guilders to £1 12; 107 12.08 12.10 • Governed by prioo of i silver.