COMMERCIAL CABLEGRAMS.

Otago Witness, Issue 3802, 25 January 1927, Page 23

COMMERCIAL CABLEGRAMS.

LONDON METAL MARKET. LONDON, January 17. Copper.—Standard Spot, £55 16s 3d ; forward £56 Ils 3d. Lead. —Spot £27 16s 3d; forward £2B 2s 6d. Spelter.—Spot £3l 12s 6d; forward £3l 10s. Tin.—Spot £3Ol 17s 6d; forward £296 8s 9d. Silver.—Standard 25 7-8 d; fine 27 15-16 d per ounce. January 20. Copper; Standard spot £55 11s 3d; forward, £56 6s 3d. Lead: .Spot, £27 10s; forward, £27 16s 3d. Spelter: Spot, £3O 15s; forward, £3O 13s 9d. Tin: Spot, £299 12s 6d; forward, £295 Is 3d. FOREIGN ’ EXCHANGE RATES. LONDON, January 20. The exchange rates on London are as follows: —

GOVERNMENT SECURITIES. , LONDON, January 20. The following are the latest quotations tor Government securities compared with the prices ruling last week :—

BANK OF ENGLAND RETURN. LONDON, January 20. The following is the Bank of England returns for Wednesday:— ISSUE DEPARTMENT. Note circulation £137,100,009 Notes in reserve 32,885,000 £169,985,000 Government debt £11’,015,000 Other securities 8,735,0CX) -Gold coin and bullion ... 150,235,000 £169,985,000 BANKING DEPARTMENT. Proprietors’ capital ... £14,553,000 Rest > 3,543,000 Public deposits 12,052,000 Other deposits ... 111,749,000 Seven-day, and other bills ... 4,000 £141,901,000 Government securities £31,883,000 Other securities 75,877,000 Notes in reserve 32,885,000 Gold and silver coin 1,25b,000 £141.901.000 The proportion of reserves to liabilities is 27.50 per cent. Short loans are quoted at 4 per cent., and three-month bills at 4 1-32 per cent. LONDON WHEAT MARKET. LONDON, January 17. The wheat cargo demand is inactive and prices are unchanged. Parcels moved quietly at an advance of threepence. Liverpool futures—March lOe 4id per cental; May, 10s Igd; July, 10s 2d. CHICAGO WHEAT MARKET. NEW YORK, January 20. Chicago wheat quotations:—May, 140 3-8 cents; July, 131|; September, 128. January 21. Chicago wheat quotations: May, 139|; July, 1301; September, 127 A cents per bushel. LONDON MARKETS. LONDON,. January 20. Wheat. —Cargoes were bearish. The tone of the Argentine report and the expected liberal shipments combined with freer offers of Australian led to a quieter influence. There was little expansion of inquiry and the market closed with a decline of threepence to sixpence. Six thousand tons were sold at 53s 6d. Parcels were in small request at threepence decline. Liverpool futures—March 10 4Jd; May 10s lad ; July 10s 2jd per cental. The spot trade is fairly active and prices are tending harder. Flour is steady. Australian (ex store) 435. Oats are steady. Peas and beans are inactive. Sugar.—Granulated, 34s l|d. January 22. Cotton.—February, 7.18 per lb’. Rubber.—Para, 16id; plantation, 19|d per lb. Jute.—January - February shipments, 32Jd per lb. • Hemp.—December-February, £37 10s per ton. Copra. — January-February shipment, £25 17s 6d per ton. Linseed Oil, £32 5s per ton. Turpentine, 52s 6d. per cwt. FROZEN MEAT. LONDON, January 22. —Canterbury 'medium, Cgd; North Island new season’s light, 6}d; medium. 61d; heavy, 6Jd; New Zealand ewes, 4}d; Argentine light, 51d; medium, sd. Lambs. — Canterbury light, lOd; seconds, 7|d; North Island new season’s firsts, lOld: seconds, 91d; Argentine seconds, 6Ad. Frozen Beef.—Argentine hinds, 4d; chilled Argentine fores, 3d; hinds, 44d; Uruguay, none offering. Others are unchanged. DAIRY PRODUCE. LONDON, January 20. Butter: New Zealand choicest, 172 s to 1745; unsalted, 182 s to 184 s; Australian choicest, 166 s to 170 s; unsalted, 1765; Danish, 189 s. Although trade is quiet, the undertone is strong in view of the quantity afloat from Australia, New Zealand, and Argentina—42o,7so boxes, compared with 691h320 a year ago. CALCUTTA TEA SALES. CALCUTTA, January ..19. At the tea sales a large proportion of the offerings was of a poor stalky description, except in the better classes, which were in good demand at late rates. Competition was slack, declining by one-half to two annas. Average prices were:—Commonest leaf, seven ai.nas six pies to eight annas six pies; commonest broken leaf, seven annas to eight annas; ordinary common pekoe souching, eight annas to nine annas; lowest even leaf pekoe, eight annas six pies to nine annas six pies. LONDON TALLOW MARKET. LONDON, January 19. At the tallow sales 1163 casks were offered and 381 were sold. Prices were unchanged, but the tendency was rather firmer. NEW CONSOLS ISSUE. LONDON, January 20. The Stock Exchange commenced dealings actively in the new 4 per cent. Consols at about i per cent, premium. P. AND. O. SHARES. LONDON, January 20. 1. and O. shares are quoted at £253 10s. PRICE OF FINE GOLD. ... LONDON, January 20. ,I’me gold is quoted at £4 4s Hid an ounce. EXPORTS AND IMPORTS. WELLINGTON, January 21. The exports from New Zealand for the month of December were : 1926, £3 631 698 • for‘the year 1926, £45,275,575; for* the month of December, 1925, £4,613 488 and the year 1925, £55,262,272.

The .imports into New Zealand for the month of December, 1926, were : £4 288 096 ■ for * the year 1926, £49,789,563; for’ the rnonth of December. 1925, £4,641 751 and the year 1925, £52,456 407

AUSTRALIAN MARKETS. SYDNEY, January 20. lhe wheat market is depressed. Quotations; 4s 7Jd at country stations, equal to 5s 2*d on trucks Sydney, Flour, £l3. Maize, 8s 2d to 8s 3d. Potatoes: Tasmanian, £l9 to £2O; Victorian, £lB. 5 Onions, £9. - ADELAIDE, January 20. Wheat: Growers’ lots, 5s lid to 5s 2d: parcels, 5s 3|d. < * Oats, 2s 4d to 2s fid. LONDON WOOL SALES. T ( , r> ; LONDON, January 17. ... A* 1 ® -° r ® dford wool market is firm but little. business is passing pending the opening of the London sales. a. ~ , , , January 19. At the wool sales there was a good general selection and keen competition the opening rates being fully maintained. New Zealand sales: “Piako.” to 16d average 15d; “Oweta, 18d and 17d: “S. T. ” 17jd and 16d; “Pine Farm, 23£d. A . ~ , , . January 20. ? w ooi sales prices were very firm at full late rates. There was a splendid selection of greasy crossbreds and a (rood lot of greasy scoured merinos. New Zealand “Opoti,” top price 15Ad. averase : , to P 22 * d > average 21|d. lhe. Bradford top market is firm, with bttle business quotations. Sixty-four’s 46d, sixties 43d. fifty-sixes 3 2d. fifties 24Ad forty-sixes, 20£d; forties. 19£d. January 21. At the wool sales there was an excellent selection. Merinos were in limited supply, and for other sorts there was spirited competition at full opening rates New Zealand brands realised the following figures: “C.G.C.,” 18Jd down to I6id: ’Pannikin,” 204 d down to 174 d; “Waiau ” 17d down to 15d. MELBOURNE WOOL SALES. MELBOURNE, January 19. The wool sales continued with very keen competition. • Best merinos advanced 7j per cent, on the December rates, while good merino and finer grades of comebacks were from par to 5 per cent, dearer. , January 18. ifio wool sales reopened with very keen competition. Best merino advanced 5 per cent., compared with the closing rates last

year. Other sorts were unchanged. Good clearances were effected. SYDNEY WOOL SALES. ■ ~ SYDNEY, January 18. At the wool sales the market ruled exceedingly firm under good, all-round-com-petition. Values generally ; were on a par with the opening day’s rates. All wools showing fine quality met with an extreme demand and continued to show a hardening tendency. Greasy merino sold ta 32Jd. , January 17. At the wood sales the market was animated, with prices fully equal to the closing rates of last week for all descriptions, and with a particularly strong demand for finer grades. Greasy merino sold to 39d. January 19. At the wool sales, under general and animated competition, the market level wai fully equal to the sales of the previous week. The hardening tendency on finer grades was further accentuated. There was a strong market for comebacks and crossbreds, which ruled firm at late rates. Greasy merino sold to a Sydney record price of 40jd. WANGANUI WOOL SALE. WANGANUI, January 21. The second Wanganui wool sale of the 1926-27 season was opened at 4 p.m. today, the large catalogue of 25.0C0 bales being offered to a full bench of buyers. Bidding was very keen, showing evidence that many buvers are operating on the same limits. The prices were firm on the Napier rates, with those for finer grades satisfactory to the growers. All classes of wool were in demand. Bradford taking a. big share, while Italy-and Germany played a more prominent part than usual. The following is the range of prices:— Fine Crossbred / 46-48). —Super, 14d to 15d: average, 12d to 14d; inferior, lid te 124 d. Medium Crossbred (44-46) .—Super, 13d to 14Jd; average, lid to 13d; inferior, 94d to IOJd. Coarse Crossbred (40-44) .—Super, 11-ld to 12d; average., IOJd to Hid; average, lOd to 10’d; inferior, to 91d. Hoggets.—Fine (46-48), 124 d to 15Jd: medium (44-46), 12d to 14Jd; ! coarse (40-44), lOld to 131 d; low (36-40), lOd to 12d. Lambs. —Down' (33-50), 13d to 16id; fine (40-44), lid to 13d; seedj* and inferior. to IOJd. Bellies and Pieces.—Crossbred low to medium. Bjd to 12d; locks, 6d to 81d. Crutchings.:—Medium to good, 74d to 9d; inferior ,to seedy, 4d to 613.

Par. Jan. 17. Jan. 20. Paris, fr, to £1 21.224 122.00 122.17 Brussels, bclgas to £1 ._ 5 34.90 34.90 Oslo, kr to £1 ... ... 18.159 18.97 18.03 Copenhagen, kr to £1 _. 18.159 13.22 18.21 Stockholm kr to £1 ... 18.159 18.17 18.18 Berlin, reichmkn to £1 ., — 20.46 20.16 Montreal, dol to £1 - 4.86J 4.861 4.861 New York, dol to £1 4.863 4.853 4.853 Yokohama, st. to yen ., .. 24.5 241 24J Rome, lire to £1 ... _. 22.221 112.87 112.13 Calcutta, st to rpe, 16 to gold £ . ... 18 1-16 13 1-32 Hongkong, st to dot. • 24 241 Amsterdam, guild, to £1 12.107 12.13J 12.13=’ Batavia — 12.11 12.101 • Governed by price ot silver

£ s. d. Last week. £ s. d This Week Imperial Consols. 24 p.c. ... 54 15 0 55 15 0 War loan, 5 p.c., 1929-49 ... 101 0 0 101 15 0 War loan. 3J p.c., 1925-28 ... 99 0 0 99 17 6 Coni ersion ' loan, 34 p.c. ... 75 17 6 76 12 6 Cwealth. 6 p.c., 1931-41 ... 100 15 0 100 12. r C’wealth 5> p.c., 1922-27 ... 103 -5 0 103 10 0 N.Z 6 p.c., 1936-51 ... 106 5 0 106 7 6 N.Z. 4 p.c., 1929 „. 97 12 6 98 2 6 N.Z. 34 p.c., 1940 ... 85 12 .6 .86 2 6 N.Z. 3 p.c.. 1945 ... 77 0 0 77 O 0 N.S.W. 6J p.c., 1930-40 ... 101 0 0 101 5 0 N.S.W. 6 p.c., 1930-40 ... 100 17 6 101 2 6 N.S.W. 5| p.c., 1922-32 .... 100 2 6 100 5 O N.S.W. 4 p.c.. 1933 .... ... 90 2 6 90 10 0 N.S.W. 3 p.c., 1935 ... 31 7 6 81 10 O N.S W 3J p.c., 1930-50 70 17 6 71 2 6 Via. 5 p.c. 1930-40 ... 101 15 O 101 17 6 Vic. 4J p.c., 1932-42 ... ... 99 O 0 99 17 6 Vic. 4J p.c., 1940-60 ... ... 93 5 0 94 7 6 Vic. 3 p.c., 1929-49 ... 76 17 6 76 15 O Vic 34 p.c., 1929-49 ... ... 71 O 0 71 0 0 Q’land. 3 p.c.. 1922-47 ... 100 12 6 100 17 6 QTand. 34 p.c., 1930 .„ ... 92 7 6 93- 0 0 Q’land. 6 p.c., 1930-40 ... 67 10 0 67 10 0 S.A. 6 4 p.c.,' 1930-40' 101 15 0 102 0 O S.A. 34 p.c., 1939 ... 82 O 0 82 O O S.A.'3 p.c., 1916 or after ... 59 0 0 59 5 0 W.A. 6 p.c.. 1930-40 ... 101 7 6 101 10 0 W.A. 3J p.c., 1920-35 ... 87 10 0 88 0 0 W.A. 3 p.c., 1915-35 ... ... 84 2 6 84 10 0 Tas. 64 p.c., 1930-40 ... 102 10 0 102 12 6 Tas. 34 p.c., 1920-40 ... ... 82 17 6 83 2 6 Tas. 3 p.c., 1920-40 ~7 77 0 O <77 a 0