COMMERCIAL CABLEGRAMS.

Otago Witness, Issue 3804, 8 February 1927, Page 21

COMMERCIAL CABLEGRAMS.

BANK OF ENGLAND RETURN LONDON, February 3. The following is the Bank of England return for Wednesday:— Issue Department. Note circulation £137,937,000 Notes in reserve 31,565,009 £169,502,000 Government debt £11,015,003 Other securities 8,735,000 Gold coin and bullion 149,752,000 £169,502,000 Banking Department. Proprietors’ capital £14,553,000 Rest 3,601,000 Public deposits 9,537,000 Other deposits 108,190,000 Seven-day and other bills , ... 3,000 £135,884,000 Government securities £28,876,000 Other securities 74,163,000 Notes in reserve 31,565,000 Gold and silver coin 1,280,000 £135,884,000 The proportion of reserves to liabilities is 27.8 per cent. Short loans are quoted at per cent., and tbree-month bills at 4 3-32 per cent. FOREIGN EXCHANGES.

LONDON STOCK EXCHANGE.

GOVERNMENT SECURITIES. LONDON, February 3. The following are the latest quotations for Gov ernment securities compared with the prices rul-

LONDON METAL MARKET. LONDON, January 31. Copper: Standard spot, f 54 10s; forward, £55 6s Bd. Lead: Spot, £26 8s 9d; forward, £26 15s. Spelter: £29 5s both positions. Tin: Spot, £292 2s 6d; forward, £286 17s 6d. Silver: Standard, 27 9-16 d; fine, 29:]d per ounce. February 3. Copper: Standard, spot, £53 13s 9d; forward, £54 3s 9d. Lead: Spot, £26 3s 9d; forward, £26 15s. Spelter: Spot, £29 2s Gd; forward, £29 ss. Tin: Spot, £297 17s 6d; forward, £291 17s 6d. Silver: Standard, 28d; fine, 301 d per ounce.

SOUTH AUSTRALIAN LOAN. LONDON, January 31. The South Australian loan was largely over-subscribed.—A. and N.Z. Cable. The success of the loan is received with gratification in financial circles, and is regarded as a good augury for the Commonwealth’s conversion of £12,750,009 5j ner cents., which mature on June 1, and the conversion of which is understood to be -imminent. CHICAGO WHEAT MARK I'T. NEW YORK, February 4. Chicago wheat quotations : —May delivery cents per bushel; July, 1341 cents; September 131 g cents February 5. Chicago wheat: —May delivery, 142 J ber, cents. cents per bushel; July, 135£ cents; Septem-

LONDON WHEAT MARKET, LONDON, January 31. Wheat cargoes are steady, and the tond is unchanged. The demand is quiet. Glenmoor to India sold at' the equivalent of 53s 9d. Parcels are in small request at an advance of 3d to 6d. By the Beltana 545. Liverpool futures: March 10s 7gd per cental, May 10s 3jd, July (buyers) 10s 4d«f LONDON MARKETS. LONDON, FebriTary 1. Tallow: Stocks, 8387 casks; imports (January), 1494; deliveries, 1596. Rubber: Stocks. 54,653 cwt. Tin: Stocks, 14.193 tons; spot, 273j] afloat, 1734; deliveries, 2514. February 3. Butter is in fair demand. Danish is quoted at 138 s. New Zealand choice salted, 172 a to 1745; unsalted, 10s premium; Australian salted, 166 s to 170 s; unsalted, 4s premium. Cheese is quiet. New Zealand 93s to 955; Australian, 92s to 935. February 3. Wheat cargoes are firm with good inquiry for Australians at 3d to 6d advance. Parcels are firm with good trade for Australians, while others are scarcely inqui;e<l after. Liverpool futures —March 10s 7.-1 perp cental; May, 10s’4£d; July, 10s . The spot trade is quietly steady. Austral’.au (ex ship) 575. Oats, peas, and beans are dull.

LONDON WOOL SALES. LONDON. January 31. At the wool sales there was a good selection of merinos and an average selection of others. • There was keen Home and Continental competition, and prices wero fully maintained. New Zealand’s “Titico” realised 19d, and “Rimuroa” lOjd and 19d. The Bradford market is firm, but there! is no demand for tops. February 1. At the wool sales there was a good selection of greasy crossbreds and an average lot of merinos. Strong general competition prevailed at full prices. Now Zealand “HW/TR” made a top price of 15gd and an average of 14jd. February 2. The wool sales have closed. Competition throughout was more active than for many sales past. The German demand dominated merinos and the Home trade operated keenly for crossbreds and slipes, while French buying showed reserve. Of the 124.000 bales catalogued there were sold te the Home trade 42.000. to the Continent 53.500. to the United States 3000; held over 25.500. Best merinos were fully 5 per cent, above the December rates and medium and common grades were very firm in sellers* favour; finer crossbreds advanced 71- pes cent, and the medium and lower grades were par to 5 per cent, higher; scoured* and slipes advanced par to 5 per cent.; lambs were little changed, the best being firm and faultless irregular.

LONDON TALLOW SALES. LONDON, February 2. At the tallow sales 1008 casks were offered and 315 were sold. Prices were unchanged. FROZEN SHEEP AND BEEF. ; LONDON, February 5. Sheep: Canterbury—Medium none offering. heavy 6d; New Zealand ewes, 4d; Australian seconds 4id, ewes 4d; Argentine heavy 44d, ewes 4d. Lambs: Canterbury heavy,' 7Jd; Australian firsts—Victorian BJd, others 7Jd; seconds—Victorian 7d, others 63d, thirds 6Jd.

The exchange rate on LONDON, February 3. London Par. are as follows Jan. 31. Feb 3 Paris, tr. to £1 21.22$ 123.13 123.25 Brussels, tielgas to £1 ... 6 34.87 34.88 Oslo, kr to £1 ... . . 18.159 18.75 18.81 Copenhagen, kr. to £1 . 18.159 18.21 18.20 Stockholm, kr to £1 . . 18.159 18.18 18.18 Berlin, reiehmkn to £1 ... — 20.47 20.46 Montreal, dol to £1 — 4.86J 4.85} 4.85 13-16 New York, dol. to £1 „ 4.86’ 4.85 4 .85 1-32 Yokohama, st. to yen ... 24.5 24 3-1G 24 3-16 Rome, lire to £1 ... 22.22A 113.07 113.37 Calcutta, st to rpe, 16 to gold £ 18 1-6 1715-16 Hongkong, st to dot. . • 24t 251 Amsterdam, guild, to £1 12.107 12.14 12.13$ Batavia ...’ ... ... ... 12.107 12.11 12.11 ' • Governed by price o! silver.

ing last week :— Last week £ 8. . This Week d. £ . B. d Imperial Consols, 24 p.c. ••• 55 10 0 55 10 0 War loan, 6 p.c., 1929-49 ••• 101 2 G - 101 7 6 War loan, 31 p.c., 1925-28 ... 99 17 6 98 10 0 Conversion loan, 34 p.c. ... 76 5 O 76 7 6 C'wealth. 6 p.c., 1931-41 ... 100 15 O 100 15 0 C’wcalth. 5J p.c., 1922-27 ••• 103 10 O 101 5 0 N.Z. 6 p.o., 1936-51 ... ••• 106 2 6 106 10 0 N.Z. 4 p.o., 1929 ... 98 2 6 98 2 6 N.Z. 3J p.c., 1940 ... 86 2 G 86 2 6 N.Z. 3 p.o., 1945 ... 77 0 0 76 15 0 N.S.W. 64 p.c., 1930-40 ... 101 3 9 101 5 0 N.S.W. 6 p.c., 1930-40 ... 101 2 6 101 2 G N.S.W. 5'i p.c., 1922-32 ... 100 7 6 100 2 6 N.S.W. 4 p.c., 1933 ... ... 90 7 6 90 7 6 N.S.W. 3 p.c., 1935 ... ... 81 12 G 81 12 6 N.S.W. 3J p.c., 1930-50 71 5 0 71 12 G Via 5 p.c. 1930-40 ... 101 0 0 101 10 0 Vio. 4J p.o., 1932-42 ... ... 99 15 0 99 17 6 Via 4J p.c., 1940-60 ... 91 5 0 94 2 6 Via 3 p.c., 1929-49 ... 76 10 0 7G 12 6 Vic 34 p.c., 1929-49 ... ... 70 15 0 70 15 0 Q’land. 3 p.c., 1922-47 ... 101 0 0 101 5 0 Q’land. 34 p.c., 1930 .:. ... 93 5 0 93 2 6 Q’land. 6 p.c., 1930-40 ... 67 2 6 68 10 0 S.A. 6 4 p.c., 1930-40 ... 102 0 0 102 2 6 S.A. 34 p.c., 1939 , ... ... 82 12 6 82 17 6 8. A. 3 p.c., 1916 or after ... 59 2 G 59 5 0 W.A. 6 p.c. 1930-40 ... 101 2 G 101 5 0 AV. A. 34 p.c., 1920-35 ... 87 10 0 88 6 W.A 3 p.c., 1915-35 ... ... 84 10 0 84 10 0 Tas 6.J pc., 1930-40 ... 102 12 6 102 a 0 Tas 34 p.c.. 1920-40 ... ... 83 0 0 83 2 6 Tas. 3 p.c.. 1920-40 ... ... 77 0 0 77 0 0