COMMERCIAL CABLEGRAMS.

Otago Witness, Issue 3775, 20 July 1926, Page 22

COMMERCIAL CABLEGRAMS.

LOND(J& METAL MARKET. , LONDON, July 12 Copper: Spot, £57 18a 9d: forward, £SB 13a 9d. Lead: Spot, £3l 3s 9d; forward, £3l 3a 9d Spelter: Spot, £34 6a 3d; forward, £34 8s 9d. Tin: Spot, £277 6a 3d; forward, £277 Is 3d. i Silver: Standard, 30d per os; fine, 32gd July 15. Copper: Spot, £SB 6s 3d; forward, £59 3s Lead: Spot, £3l 17a 6d; forward, £3l 15s. Spelter: Spot, £34 2a Gd; forward, £34 7s 6d. Tin: 6s 3d; forward. £2BO Is 3d. Silver: Standard, 90d; fine, 92|d. BANK OF ENGLAND RETURN. LONDON, July 15. The following is the Bank of England return for Wednesday: ISSUE DEPARTMENT. Note circulation .. ....... •• £141,469,000 Notes in reserve 28,299,000 £169,768,000 Government debt £ 11,015,000 Other securities .. .. .. .. 8,734,000 Gold coin and bullion 150,019, *OO £169,768,000 BANKING DEPARTMENT. Proprietors’ capital £ 14,533,000 Pubiio deposits 9,352,000 Other deposits 114,012,000 Rest, seven-day and other bills .. 3,490,000 £141,416,i>00 Government securities £ 38,925,000 Other securities 72,876,000 Notes in reserve 28,299,000 Gold in reserve .. .. .. .. 1,316,000 The note circulation is £141,469,000, com pared with £142,217,000 a week ago. The proportion of reserve to liabilities has risen from 22.90 to 24 per cent. Short loans arc quoted at 4ft per cent, and three-month bills at 4 5-10 per cent. COVEBNMENT BECUHITIES. LONDON, July 15. The following are the latest quota lions tor Government securities, oompared with the prices ruling lest week:— Lest week. This week Aid. Bad. Imperial Consols, 3ft p.e. War loan, t p.c., 1929-47 ... 101 0 0 M>l 0 0 War loan, M p.a . 1925-28 _ 98 II 0 98 It 0 Conversion loan, 3| p.a ~ 71 t • Nil

FOREIGN EXCHANGE RATESv LONDON, July 13. The exchange rates are as follows Par. Jnlv 12. July 11. Parts, ir to £l ... 25.22§ 136.25 197.25 Brussels, fr to £1 ... 25.22$ 235.50 211.50 Oslo, kr to £1 18.159 22.16 22.10 Copenhagen, kr to £1 ... 18 150 18.3* 18.36 Stockholm, kr to £l, ... 18.159 18.15 18.15 Rome, lire to £1 25.22$ 144.25 144.00 Berlin, reiehmkn. to £1 20.43 20.42 20.42 Montreal, dol to £1 ... 4.86 J 4.85| 4.85 J New York. do!, to £1 ... 4.86 f 4 86 15-16 4.96 7-16 Yokohama, st to yen ... 24.58 23£ 23 3-16 Calcutta, st to rupee ... 24.00 17J 17 15-16 Hongkong, et to dol ... • 27| 27$ Amsterdam, guild to £l 12.107 12.10 12.10| Batavia, guilders to £1 12.107 12.04 12.04 • Governed by price ol silver. LONDON WHEAT MARKET. LONDON. July 12. Wheat cargoes are featureless. , Parcels are in small request at late rates. Liverpool futures: July 11s 7d per cental, October 10s Bd, December 10s 6|d. Wheat.—Prices are unchanged. The demand is quiet. Parcels are in request, and are occasionally easier. Sales were made at 58s 6d to 595. Liverpool futures: July, 11s 9d; October, 103 lOid; December, 108 9Jd. The spot trade is firmer. Australian, ex ship, 61s Id. CHICAGO WHEAT MARKET. CHICAGO, July 12. Chicago wheat: July 138 g cents per bushel, September 136£, December 140 NEW YORK. July 15. Chicago wheat: July 143$ cents per bushel, September 142 g; December 1451. July 14. Chicago wheat—July 1445 cents per bushel, September 142 g, December 1461. NEW YORK July 16. Chicago Wheat. —July. 145 cents per bushel; September, 145; December, 148. LONDON MARKETS. LONDON, July 15. Flour.—Firm. Australian, ex store, 44s and 41s 6d. Oat 3 are quiet. Beans are quiet and peas are steady. Sugar, 29s 7sd. LONDON MEAT MARKET. LONDON, July 17. Sheep.—New Zealand Canterbury an.l Southland, 6§d; North Island, 6&d : Argentine light, 4*d; medium, igd; Patagonian light 43d; medium, 4Jd. Lamb. —Canterbury light, 9£d : medium, Ssd; heavy. Bgd; seconds, B|d; other selecteds,—light, 9d; medium, Bgd ; North Island first and seconds, Bjjd; Australian (Victorian) firsts—light, BJd; medium, 7sd; other States’ firsts—light, 73d; medium, 7d; Victorian seconds, 8d; other States, 7sd; all States’ thirds, 73d ; Argentine firsts—light. 8d ; medium, 7-fcd ; seconds, 7sd ; Patagonian firsts—light, B£d; medium, 7sd ; seconds, 7sd. Beef.—Frozen Australian, nominal crops, 3sd; hinds, s£d; chilled Argentine fores, 3Jd ; hinds, 6Jd : Uruguay fores, 3d ; hinds, s£d; others unchanged. DAIRY PRODUCE. LONDON. July 13. The butter trade is still inactive. New Zealand salted 168 s to 170 s, unsalted 170 s to 1725; Australian salted 164 s to 1665, unsalted 164 s to 16Ss; Danish, 172 s to 1735: Cheese is quiet. New Zealand white 88s, coloured 84s; Canadian, 84s. LONDON TALLOW MARKET. LONDON, July 14. At the tallow sales 502 casks were offered and 327 were sold. Prices were unchanged. A. and N.Z. Cable. SOUTH AFRICAN LOAN. LONDON, July 14. Of the Union of South Africa loan the . underwriters were left with 74 per cent. Dealings started at $ per cent, discount. THE PRICE OF GOLD. LONDON, July 14. Fine gold is quoted at £4 4s 10$d per ounce. LONDON, July 16. Gold is quoted at £4 4a 9fd per ounce. COTTON, RUBBER, ETC. LONDON, July 17. Cotton. —August shipment, 9.45 d per lb. Rubber. —Para, 19Jd per lb; Plantation smoked, 20g<l. Jute.—July-August shipment, £34 per ton. Copra, £27 12s 6d per ton. Hemp.—June-July, £36 per ton. Linseed oil, £35 15s per ton. Turpentine, 60s 9d per cwt. AUSTRALIAN MARKETS. MELBOURNE, July 16. Wheat is firm, but sellers are scare at Gs 7*l. Oats: Milling, 3s 8d; feed, 3s 3d. Barley: English, 4s 5d to 4s 6d; Cape, 3s 9d to 4s. Potatoes, £lO 10s to £ll 10s. Onions, £l7 to £l9. SYDNEY, July 15. Wheat: Bagged 6s 7d, ex trucks Sydney; 6s at country stations. Oats: Tasmanian Algerian 5s 6d. white ss. Maize: Local yellow 6s 6d, white 6s 3d, South African 6s 3<t. Potatoes: Tasmanian, £l3 to £l6; New Zealand, £l3. Onions: Victorian, £22 to £23; Japanese, £2l. ADELAIDE, July 75 Wheat: Growers' lots, 6s to 6s ltd. Oats, 3s Id. MELBOURNE. July 15. Hides: The market is irregular. Lights and mediums declined id, and other grades were unchanged. LONDON WOOL SALES. LONDON, July 12. The Bradford wool market is very quiet, and there is no business, awaiting the London sales. Crossbreds are very slack. July 18. At the wool sties there was an excellent opening despite the Home trade’s trouble*

due to the strike. There was a good selection of merinos of which classes, greasy and scoured, remained firnr at last sale's rates. The crossbred offerings were small, and it is difficult to base quotations. Fine crossbreds were firm and unchanged. Medium and lower sorts were 5 per cent. down. Lambs’ and short wools were firm and unaltered. In connection with the general spirit. Continental buyers operated keenly in merinos despite the exchanges. July 14. At the wool sales competition was more general for merinos the opening rates being fully maintained. Greasy crossbred offerings were practically negligible. July 16. At the wool sales there was a good selection of all classes. There was a good market, and prices were fully firm at late rates. The chief operators were from the Continent. SHEEPSKIN MARKET REPORT. The Dunedin Stock Agents' Association {Messrs Donald Reid and Co., Wright, Stephenson, and Co., Dalgety .nd Co., National Mortgage and Agency Company, Otago Farmers’ Co-operative _ Association, Stronach, Morris, and Co.j New Zealand Loan and Mercantile Agency Com *anyi reports having held its usual fortnightly sale of sheepskins, when small atalogues 7e»e submitted to a large attendance of outers. Competition was keen and onces rat la quoted at par with last sale. Toe following is a range of prices realised. —*Lsmo threequarter to full-wool, 12d to '2£d; ha'fbr-d three-quarter to full-wool, 13d to halfbred half-wool, 9Jd to 12d; halfbred iiuarieiwool, 9Jd to llid; fine crossbred tiueequarter to full-wool, lljd to 13Ja; fine crossbred half-wool, lOd to 12d; fine crossbred quarter-wool, BJd to 9Jd; crossbred threequarter to full wool, lOd to 12; crossbred half-wool, 9Jd to lljd; crossbred quarterwool, Bjd to 10d; fine hogget. Hid to I2id, crossbred hogget, 9id to 10|d; fine lambs, lOJd to lljd; lambs, 9id to 10jd ; halfbred dead, 10$d to lljd; crossbred dead, 8d to 9id; first pelts, Bid to second pelts, 4d to 7|d; halfbred torn, toTL|d ; crossbred torn, to 9Jd; halfbred seedy, 8d to 9d; fine crossbred seedy, 7d to BJd; crossbred seedy, 7d to fijd.

C’wealth. b\ pa 1922-37 103 17 6 103 17 6 C. wealth. 5| p.c.,' 1922-27 10O 5 0 100 12 6 N Z b p a. 19:16-5) ... 106 10 0 106 10 0 N.Z 4 pa. 1029 97 2 6 97 0 0 N.Z S) p.c. 1940 84 15 O 84.17 6 N.Z 3 p.a, 1345 75 17 6 75 17 6 N S W 6) p.a. 1930-40 103 6 0 103 0 0 N S W 6 p.a. 1930-40 102 12 6 102 15 0 N.8 W 6| p.a, 1922-32 100 12 6 100 12 6 NSW 4 pc.. 1933 ... 91 7 6 91 7 « NSW 34 p.a. 1930-50 82 5 0 82 10 0 N SW S p.a, 1935 73 5 0 73 10 0 Via 54 do.. 19-10-40 101 15 0 101 15 0 Vio 5 p.a, 1932-42 99 17 6 100 0 0 Vic 4? p.c. 1921-29 96 5 O 96 15 0 Via 34 p.c.. 1929-49 77 15 0 77 15 0 Vio 3 p.a. 1929-40 71 0 0 71 5 0 Q'lnnd B pa. U130-40 101 2 6 100 5 0 Q'land 34 p.a. 1930 92 0 0 92 2 6 Q’laud 3 p.a. 1922-47 68 0 0 67 15 0 S.A 64 p.a. 1930-40 103 0 0 103 5 0 8.A 34 pa, 1929 82 5 0 82 10 0 S.A 3 p a. 1916 or after 60 5 0 59 15 0 W A 8 p.a, 1930-40 102 0 0 101 17 6 W.A 34 p.a. 1920-35 86 10 0 86 7 6 W A 3 p a 1915-35 83 10 0 83 12 G Tas 6| p.a. 1930-40 103 10 0 103 10 0 Tas. 3 p.c. 1920-40 ... 83 5 0 83 5 0 Ta& 34 p.c.. 1920-40 ... 78 15 0 78 5 0