COMMERCIAL CABLEGRAMS.

Otago Witness, Issue 3833, 30 August 1927, Page 22

COMMERCIAL CABLEGRAMS.

VICTORIAN WHEAT CROP. n , ' MELBOURNE, August 26. The Government Statistician says that the returns show a small increase' in the ar.a sown in wheat this season. The total area sown is estimated at 3,182,000 acres, of which 150,000 acres will be cut for hay.

LONDON METAL MARKETS. LONDON, August 25. Copper: Spot, £55 10s 7Jd; forward, £55 18s IJd.

Electrolytic: Spot, £6l 15s; forward, £62. Wire bars, £62' ss. Lead: Spot, £22 12s 6d; forward, £23.

Spelter: Spot, £27 12s 6d; forward, £27 10s. Tin: Spot, £290 10s; forward, £285 7s 6d. Silver: Standard. 25R1 per oz; fine, 27Jd. LONDON STOCK EXCHANGE. LONDON, August 25. The following are the latest quotations for Government securities, compared with the prices

FOREIGN EXCHANGES. LONDON, August 25. The exchange rates on London are as follows:—

CANADIAN WHEAT-CROP.

OTTAWA, August 24. The Winnipeg Observer states that it is ideal weather for wheat ripening, but a slight frost waa reported in a few sections on Monday night. The rust damage is serious in parts of Saskatchewan and Manitoba. An cxceptionally fine yield is promised from Alberta, since the damage due to frost and rust there was only slight. Cutting will be general

next week, but much of the later crop is not .t ripe. The yield in Saskatewan and Manitoba will be reduced in some grades which were injured by rust and fr.zt, but it is impossible to estin ate the actual damage until the harvest. LONDON WHEAT MARKET. LONDON, August 20. Wheat cargoes are firmer owing to the bad weather on the Continent. Parcels opened a turn easier, but closed fully steady.. Lots ex Esperance Bay sold at 54s 6d. Liverpool futures: October, Ils 2?d; December, Ils 3Ad; March, Ils Igd; May, 10s l|d. CHICAGO WHEAT MARKET. NEW YORK, August 26. Chicago Wheat..—September, 138 J cents per bushel; December, 142 g; March, 145 J. August 27. The latest quotations are as follow:— September, 137 J cents per bushel; December, 141 g cents; March, 144 g cents. BANK OF ENGLAND RETURN. LONDON, August 25. The following is the Bank of England return: — ISSUE DEPARTMENT. Note circulationfl36.43o.ooo Notes in reserve .. .. .. 33,253,000 £169,683,000 Government debts .. .. .. £11,015,000 Other securities 8,735,000 Gold coin and bullion .. .. 149,933,000 £169,683,000 BANKING DEPARTMENT. Proprietors’ capital .. .. £145.530,000 Rest 3.657,000 Public deposits 17.424,000 Other deposits 102,737,000 Seven-day and other bills . . 3,000 £138,374,000 Government securities .. .. £55,422,000 Other securities 48,140,000 Notes in reserve 33,253.000 Gold and silver coin 1,559,000 £138,374,000 The proportion of reserves to liabilities is 28.90 per cent. Short loans arc quoted at 3 J per cent., and threc-inonth bills at 4g per cent. LONDON MARKETS. LONDON, August 22. The Bradford wool market is very quiet. Prices are firm.

Wheat cargoes, in sympathy with American advices and bad weather on the Continent, are firm, but the demand is not expanding rapidly. For parcels there is good inquiry, at an advance of 3d. Liverpool futures: October, Ils 31d per cental; December, Us 3£d; March, Ils 2d; May, Us. August 25. »’ heat cargoes are dull in sympathy with the American closing and declined 3d to 6d. Part of the Australian was sold at 54s 3d. Parcels were in poor demand at 3d to 6d down. Liverpool Futures: October, 10s lljd ; December, Us Old ; March, 10s Ud; May 10s 9d. -Spot trade is quiet. Australian, ex ship. 565, 9d. Flour is firm. Australian, ex store, 41s 3d. Oats are firmer. Peas and beans are quiet. BUTTER AND CHEESE. LONDON, August 25. The butter trade is fair and strong. Prices: Danish, 1765; choicest New Zealand salted, 170 s to 1725; Australian, 163 s to 170 s. Unsalted is very scarce; New Zealand, 178 s. Australian, none offering.

Cheese is firm. New Zealand, 82s to 93s ; Australian, 90s to 91s.

COTTON FUTURES. NEW YORK, August 27. Cotton futures advanced three dollars per bale, following firmer Liverpool cables, and there was a wave of buying front both American and foreign sources. This is attributed to trade being inucnced by reports of a change in the weather oulook for the cotton belt.

BUTTER IN SYDNEY. SYDNEY. August 25. The wholesale price of butter has been increased by 4s 8d to 224 s per cwt.

AUSTRALIAN MARKETS. MELBOURNE, August 25. The hide market is irregular, and the best-conditioned are unchanged. Inferior and sloppy grades are |d lower. August 26. Wheat: Steady. Demand narrow. Quotation, 5s !)Jd. Flour, £l3 5s to £l3 10s. Bran. £7. Pollaiu, £7 10s. Oats: Milling; 4s 7d and 4s 8d; feed, 4s 4d and 4s 6d. Barley: English, 4s 3d and 4s 6d. Potatoes, £B. Onions, £4 and £4 ss. SYDNEY, August 25. Wheat: Bagged at country stations, ss; ex truck at Sydney, 5s 7Jd, but sales were reported in the city at 6s. Parcels, bagged and bulk. 5s IOJd. Flour: Local, £l3 15s; export. £l2 10s, f.o.b. Bran, £7 10s. Pollard, £8 10s. Oats: Tasmanian-Algerian, ss; white, 4s lOd. Maize: Local yellow, ss; Queensland, 4s lid to ss. Potatoes: Tasmanian, £ll to £l4. Onions: Victorian, £6. ADELAIDE. August 25. Wheat: Growers’ lots. 5s 5d to 5s 5Jd. Flour : Bakers' lots, £l4 2s 6d. Bran, £6 10s. Pollard, £6 15s. Oats, 3s 7d to 3s 83.

BANK OF AUSTRALASIA. LONDON, August 25. The Bank of Australasia interim divident is 14 per cent., free of tax.

THE ' AUSTRALIAN LOAN. NEW YORK, August 24. The J. P. Morgan Company announced that the Australian loan bonds were oversubscribed, and the books immediately, closed. BUTTER IN SYDNEY. SYDNEY, August 22. The wholesale price of butter has been increased by Id per lb, making it 219 s 4d per cwt. PRICE OF FINE GOLD. LONDON, August 24. Fine gold is quoted at £4 4s lljd pe? ounce. P. AND O. STOCK. LONDON, August 25. P. and O. Stock is quoted at £284 10s n BRADFORD TOPS MARKET. LONDON, August 25. The Bradford tops market is firm, Lut the business small. Quotations: 64's 49d • 6O’.s, 43d ; 56’s, 35d ; 50’s, 27Jd ■ 46's, 21Jd ; 40's, not mentioned. RUSSIAN WHEAT CROPS. According to reports received in London at the beginning of July, weather conditions in the wheat areas of Russia in June were cold and rainy in the northwest and centre, but comparatively hot and dry in the south-east. Rains giving an average fall of two to four inches were recorded in the western parts of the middle Volga and lower Volga regions, which somewhat relieved the drought which had been experienced there. Excessive moisture and absence of warm weather in tho north-west had, in some parts, affected the wheat crops unfavourably, and throughout the great northern region the winter crops were in ear or in flower, and on the whole their condition was average. Spring crops were average. The state of the winter crops in the central areas was, if anything, above the usual condition at that period of the year. Tho plants in the south-east of the middle Volga had deteriorated, but elsewhere they were satisfactory. The Siberian crops also were up to average. Although Russia has mado great headway in production of wheat in recent years, it has not had a large surplus available for export, approximately 40,000,000 bushels last season contrasting with a pre-war surplus of about 169,000,000 bushels. In the last few seasons the lack of transport facilities in Russia has mado it difficult for growers thero to get their wheat to the seaboard, and in view of tho state of the finances of the country a similar difficulty may arise in the current season, as funds are not available to put tho railways and rolling stock in good order.

TRADE WITH AUSTRALIA. Trade opinion generally is that in future it will become difficult for Victoria to place surplus supplies of potatoes in the New Zealand markets when a satisfactory outlet in that direction becomes available, because of the decision of Australia to prohibit the importation of New Zealand potatoes (says the Australasian). It is unfortunate that “corky-scab” disease should be prevalent in the Dominion to such an extent as to make it necessary for the authorities here to debar their entry into the Commonwealth, and now that Tasmania is prevented for similar reasons from competing in the Victorian market, it may be a poor outlook for consumers in this State when yields of potatoes here are light. The time will come, however, when production will be largely excessive, and then the loss of the New Zealand market may be a serious matter to the growers. The attitude of Australia towards the Dominion, although justifiable on tho question of disease, and also in relation to butter, is building up a prejudice in New Zealand against the Commonwealth, which eventually may lead to conditions being' imposed there which will penalise other sections of primary producers who have found an outlet in New Zealand for a portion of their surplus produce.

AMERICAN HIDE PRICES. The recent advance in the price of hides and skins seems to indcatc that the hide and leather markets arc emerging from the depression of the last few years (says the New York Commerce Monthly for July). “A remarkable advance in the price of hides and skins has taken place in tho past three months in the face of a quiet leather market, am] has brought the level to the highest point for some time. The movement is based on a sound statistical situation and the hide and leather markets seem finally to have emerged from the depression that began in 1920. Hides and heavy leather especially have benefited, but the whole market has shared tho improvement. Hide prices have gone up 39 per cent, since March 15, and calfskin 27 per cent. Two casual factors in particular stand out as of primary importance —reduced slaughter and smaller stocks of hides and leather. Cattle slaughtered have been about a half million less .so far in 1927 than last year, and this decrease is expected to continue for tho rest of the year. Building up dairy herds depleted last year by the tuberculin campaign and the general stabilisation of tho cattle industry explain in large part this reduction in slaughter. On tho South American markets also the kill has been smaller than last year. Cattle reaching the market these days are smaller than in former years, owing to the popularity of baby beef, and this reduces the amount of leather from each hide.”

COMPANIES REGISTERED. Th© latest issue of the Mercantile Gazette notifies the registration of the following Dunedin companies:— Wanaka Motors. Ltd. Registered as n private company, August 15, 1927. Capi* tai: £2050 into 2050 shares of £1 each. Subscribers : Pembroke —J. M. Mackay 500. Dunedin —H. E. Mackay 750, G. S. Mackay--800. Objects: To carry on the business of

motor service proprietors, carriers, and mail contractors, and to carry on other undertakings pertaining to the carriage ot goods, passengers, mails, and merchandise. "Western Fisheries, Ltd. Registered August 16, 1927. Capital: £4OOO into 4000 shares of £1 each. Subscribers: Dunedin --W. A. Mitson. G. W. J. Bell, A. Sligo, H. L. Gallien, G. J. Barton, W. J. Hutton, J. M. Booth 1 share each. Objects: To carry on the business or businesses of fishermen, canners, bottlers, picklers, fishmongers, curers, packers, and oyster dealers, and general traders. Regent Theatre Co., Ltd. Registered August 19. 1927. Capital : £60,000, into 60,000 shares of £1 each. Subscribers: Williamson Films (N.Z.), Ltd., 20,000. Dunedin—J. M‘Donald 500, F. G. Duncan 500, W. J. Watson 100, F. H. Dampen 250, W. F. James 500, J. Lang 500, A. J. Allen 200. Objects: To conduct and carry on in Otago the business of proprietors and conductors of kinematograph and moving picture exhibitions.

SHEEP SKIN SAI RS. The Dunedin Woolbrokers’ Association (the Otago Farmers’ Co-operative Association, Dalgety and Co., Donald, Reid, and Co., Wright, Stephenson, and Co., National Mortgage and Agency Co., Stronach, Morris and Co., N.Z. Loan and Mercantile Agency Co.) report as follows: — The fortnightly sale of sheepskins was held on Wednesday, when fair average catalogues were offered to a full bench of buyers. Bidding was keen for all grades, prices being a shade easier on halfbred, but other lines were at a par with late rates.

Quotations are as follows:—Merino— Full-wool, up to 14d. Half bred —Full-wool, 14gd to 14^d; half-wool, 12d to 14d ; quarter-wool, to Hid. Fine crossbred —hull-wool, 15id to 14id; half-wool llfd to 12 2 d ; quarter-wool, lOd to 10id. Cross-bred—Full-wool, HJd to 123 d; half-Wool, 9 2 a to 12d; quarter-wool, 93d to IOJd. Halfbred dead, 12d to 13 2 d ; crossbred dead, 104 a to lljd ; half bred hoggets, 12id to 13gd; fine crossbred hoggets, 12d to 13d; crossbred hoggets, lid to 12j,d ; first lambs, 12d to 13d; second lambs, 7J.d to llid ; first pelts, Bjd to 9d; second pelts, 51-d to 63d; dead hoggets, 10gd to 12d. LONDON FRUIT MARKET. The secretary of the Otago Provincial Fruitgrowers’ Council, Limited, advises that the High Commissioner’s cable advice on the fruit market in London for the week ended August 20, is as follows:— Apples.—Corinthic shipment mostly sold, principally Stunner left. Trade dull. Prices range from 14s to 20s per case. CO-OPERATIVE DAIRY SUPPLIERS. * ANNUAL MEETING. HAMILTON, August 24. An excellent tone pervaded the annual meeting of the New Zealand Co-operative Dairy Co. Suppliers to-day. There were about 500 present. An atmosphere of complete confidence in the company, and, generally, a more optimistic feeling as to the future, was noticeable. A realisation of the powerful influences confronting farmers was also evident. Messrs Dynes Fulton (chairman of directors), H. Sterling (general manager), and W. Goodfellow (managing ■director), reviewed the progress of the past season in addresses to the suppliers.

WANGANUI CRUTCHING SALE. WANGANUI, August 24. At the Wanganui crutching sale to-night there was a representative bench of buyers. Two thousand bales were offered, mostly heavy and seedy. The bidding was devoid of spirit and heavy passings rosulced. Good crutchings realised up to lOd, and a few special up to Hid; medium 8d to 9d and inferior 6d to Bd. .Inferior lots sold more readily than the better quality. WOOL SALES. WELLINGTON. August 23. The second and final wool sale of crutchings took place to-day in the presence of a large and representative attendance of English, Continental, and New Zealand buyers. There was a catalogue of 2650 bales, and a good clearance was effected. Prices ranged as follow: — Merino crutchings, IOAd to 14Jd; halfbred, BAd to 124 d; crossbred, superior, IOJd to 113 d; crossbred, medium to good, 9d to ll|d; crossbred, seedy and inferior, 5Jd to B£d; crossbred, pieces and bellies, sjd to 10jd; locks and stained pieces, 5d to 6Jd.

PROPERTY SALE. Messrs Park, Reynolds, Ltd., report having sold at auction at their rooms last week the right to a 21 years’ building lease (corporation terms) of the land occupied by the Acme Photo Studio and Messrs Perrett and Marshalls florist shop, Nos. 251 and 253 George street, the land leased being the northern portion of section 6, block XXIII, Dunedin, having 33ft frontage by 165 ft deep. The lease was offered subject to £BOO being paid for improvements, with an upset annual ground rental of £l4B 10s. Competition was very keen, and the ground rent for the next 21 years reached £255 per annum. The Linwood Investment Company became the new lessees. Great interest was taken in this sale, as business premises in George street are in good demand, values during the past few years showing a very substantial increase.

DOMINION’S HONEY PRODUCTION

Honey exports for the season just closed are 30 per cent, below the total for 1926. The Horticultural Division reports that to the end of May this year 6203 cases of honey were shipped abroad against 9544 cases last year. A feature of the season is that the South Island production has exceeded that of the North Island. Detailed figures of shipment are as follow: — Auckland 1459 cases. New Plymouth 219, Wellington 826. Lyttelton 801? Greymouth 850, Timaru 1025, Dunedin 585, Bluff 428.

Although last year saw a good season in the country, and particularly in South Canterbury, states the < department, and the actual production showed an increase, less honey was offered for export becuase growers ehose to send supplies to the local markets. Prices within the Dominion have been well maintained, and, with a profitable field close at hand, growers have not felt inclined to send the produce overseas. At the same time, prices in London have been on a par with previous years, showing that New Zealand honey is still holding its own against all competitors, and although American honey has shown a marked tendency to fluctuate, the prices of Dominion honey has remained at almost the same level.

BRITAIN’S INDUSTRIAL PROBLEMS. In the Monthly Review for July, issued by Barclay’s Bank, the prevailing industrial conditions in Britain are analvsed. The unemployment figures at the end of May show that out of an estimated number of insured persons totalling 12,041,060, about 1,058,791 were unemployed, and of this number- 520,093 were employees in the heavy trades, including the cotton industry, with 39,719 unemployed and 21,463 in the woollen and worsted industry. Coal mining, metal manufacturing, engineering, shipbuilding, ship, canal, and dock services, account for the balance. The summary memorandum on various industries prepared by' the League of Nations for the use of the International Economic Conference, throws some 'ight on the problems involved. One of the fundamental causes which has been responsible for the widespread depression in so many countries since the Armistice, it is stated, has been the lack of steady continuity in productive activity resulting from the war. The Review- maintains that changes in productive capacity . have not been due solely to the economic necessities of the war period. They have also been stimulated by the intensified nationalism which has existed in many countries and by the desire to attain a greater degree cf industrial independence, the latter objective having been considerably assisted by the widespread application of tariff or other restrictions against external competition. In addition, inflation has also played an important part. But inflation has practically ceased, and currency and credit systems are rapidly being placed on a sound basis. Some time may elapse before the advantages to British trade from these reforms are fully felt, but they should be of increasing significance as costs of production and prices under the widespread working of the gold standard, tend more towards equality. MANUFACTURE GF GLASS. NEW INDUSTRY AT MOUNT SOMERS WELLINGTON, August 22. After an inquiry into the objections lodged against the application of the Southern Cross Glass Company of New Zealand, Ltd., for permission to work the silica deposits at Mount Somers, near Ashburton, the Minister of Mines (Mr G J. Anderson) has advised the chairman of directors of the company that he- has decided to grant the company a right to search for, dig, get. and carry away silica from a piece of land comprising lu) acres near Mount Somers. The grant is subject to conditions relating to the working of the deposits.

The company has ordered a complete plant and equipment for up-to-date glass manufacturing works, and it is expected that a start will be made to install it in a couple of months. The factory will probably be in operation at the beginning of next year.

This application was the subject of involved litigation at the Ashburton Warden’s Court recently, and was a dispute of .Dominion interest, in view of the large number of shareholders in the companyresiding in various parts of New Zealand. The area of land consists of about 100 acres at Mount Somers, which is rich in silica deposits. There were several applications and objections to the applications for licenses in respect to the same deposit. HORSE SALE. Wright, Stephenson, and Co., Ltd., report having held a sale of horses at their I)unedin Horse saleyards on Thursday. There was an entry- of 50 horses, but only a small percentage of this number could be classed of fair average quality. The country consignments attracted good cr repetition, but at prices barelv up to vendors’ values. However, taken all ever, the sale was a good one, and practically the whole of the entry changed hands at what can be considered satisfactory prices, as will be seen from the followine- sales, The company sold : For R. Ruthven (Mc.sgiel), 1 mare, 4yrs, £4B; R. Yardley and Son (Moa Flat), 1 gelding, 6yrs, £39; Jas. M’Hardy (Sutton), I'mare, 7yrs £35 1 gelding. Byrs, £3O 10s; Jas. M’Kewen (Dunedin), 1 gelding, 4yrs, £34; Jas. Thomson (Waikouaiti), 1 mare, syrs, £33. In addition to these, several mediumquality six to eight-year-old heavy daughts realised from £25 to £32. Aged -draughts were practically unsaleable. Good ’pring carters ranged from £l9 to £2B, vhile hacks and ponies sold up to £l3 10s.’ DUNEDIN HIDE SALE. Messrs Waters, Ritchie, and Co. report as follows:—We held our usual monthly sale of hides at our stores, Crawford street, on Thursday- afternoon. There was the usual attendance of buyers present, and competition was again very keen for all lines of medium and light-weight cows, but the extreme prices obtained at the previous sale were barely maintained, and prices can be quoted on an average of £d per lb lower. Heavy-weight ox and cow were very slow of sale, and prices for same declined id per lb. Our catalogues consisted of 1894 hides, and the following were some of orir best pricesOn four 671 b llgd; five, 871 b, 113 d; one 661 b, llgd; 19 661 b, Hid; 10 89;bs, lid; one 671 b. lOgd; 16 841 b. 10|d; two 571 b. lOad; 27 771 b. 101 d; 20 791 b. lOAd; 28 771 b, 10d; 19 381 b. 9Jd; six 351 b, 9?d; one 781 b, 9gd; two 421 b, 9?d; 42 771 b, 9|d; 214 641 b, 9|d; four 561 b, 9 2 d; 50 561 b 9gd;190 751 b, 9gd; 16 481 b, 9id; four 411 b,

9id; three 741 b, 9d; 10 401 b, 9d; 16 491 b, Bid; six 561 b, Bgd; three 481 b, Sgd; three 751 b, 8f d; 33 631 b. 8 2 d. Cows: Five 641 b, lOd; 32 371 b, lOd; 15 381 b 9£d; 40 371 b, 9-2-d; three 341 b, 9?d; 144 451 b, 9Jd ; 36 451 b, 9|d; 14 461 b, 9|d; two 581 b, 91d; 88 451 b, 9jd; 16 371 b, 9d; six 441 b, 9d; 16 56!b, 8Id; two 461 b, Bgd; 39 641 b, 83d: 359 571 b, B|d; 145 561 b, E6d pin- lb.

NORTHERN BOOT COMPANY. AUCKLAND, August 23. The annual report of the Northern Boot Company- for the year ended July 31 states that the net profit amounts to £ll7l Is 2d, which, with the balance from last year’s account, makes a total of £3356 14s lOd. The directors recommend the payment of a dividend of Is a share, which, with the directors’ honoraria, will absorb £925, leaving a balance of £2431 14s lOd at the credit of the profit and loss account. Ten per cent, has been written off the plant and furniture accounts for depreciation. The gross profit for .the year was £7085 Ils 4d, as against £5373 12s for the previous year.

MATCH COMPANIES’” MERGER.

Particulars of the provisional scheme for the unification of the interests of Bryant and May and the Swedish Match Company throughout the British Empire, except in Asia, were contained in a circular Issued last month to shareholders in the former company. A new company, with the probable title of the Imperial Match Company, is to be formed with a capital of £6.000,000, which will acquire the ordinary shares (£1,117,213) of Bryant and May, and the share capital of J. John Masters and Co., which is controlled by the Swedish company, and the match-selling and distributing agencies in different parts of the Empire owned or controlled by the latter. Of the •=■ new capital, £4,189,548 is to be offered to the existing ordinary shareholders of Bryant and May, being at the rate of 3§ new shares for each existing £1 share, £1,800,0000 will be issued to the Swedish Match Company for the purchase of its interests, and the balance of £10,452 is to be subscribed in cash at oar by Bryant and May. The new company will really be a holding company, uniting the two most important interests in the match industry in the British Empire. The net profits cf Bryant and May for the past five years have been as follows:—Year ended March 31, 1923, £273,523; 1924 £295,694; 1925. £346,389; 1926, £334,920; 1927, £387,212. Since 1919 the -hareholders have received two capital bonuses. The company has for years worked successfully a co-partnership plan, under which the employees receive a substantial share of the profits.

ruling last week : — East week. This week. £ a. d. £ 8. d. Imperial Consols. 2J p.c. ... 54 15 O 54 15 0 War loan, 5 p.c., 1929-47 101 5 0 101 15 O War loan, 34 p.c., 1925-28 ... 99 3 9 99 7 6 Conversion loan, 3} p.c. ... 76 10 0 76 10 0 C'wealth 6 p.c., 1931-41 ... 102 0 0 102 0 0 C’wealth loan ... 98 7 6 98 7 6 N.Z 6 p.c., 1936-51 ... 107 3 9 107 0 0 N.Z. 4 p.c., 1929 ... 99 0 O 99 0 0 N.Z 3} p.c., 1940 ... 86 18 0 86 15 0 N.Z. 3 p.c., 1945 ... 78 5 0 78 10 0 N.S.W. 6$ p.c., 1930-40 ... 103 8 9 102 17 6 N.S.W. 6 p.c. 1930-40 ... 102 15 O 102 15 0 N.S.W. 5J p.c., 1922-32 ... 101 17 6 101 15 0 N.S.W. 4 p.c.. 1933 ... ... 93 17 6 94 0 0 N.S.W. 31 p.c.. 1930-50 ... 86 5 0 86 2 6 N S.W 3 p.c., 1935 ... ... 76 2 6 76 0 0 Vic 5* p.c.. 1930-40 ... ... 102 7 6 102 6 Vic 5 p.c.. 1932-42 ... ... 99 12 6 99 15 0 Vic 3} p.c.. 1929-49 ... 78 0 0 78 0 0 Vic. 3 p.c., 1929-40 ... 71 15 0 71 1, 6 Q’land. 3 p.c., 1922-47 ... 102 0 0 102 0 0 Q’land. 3J p.c., 1930 ... 95 6 95 7 6 Q’land. 6 p.c.. 1930-40 — 71 10 0 72 5 0 S. A 6 J p.c., 1930-40 ... 103 0 0 103 o 6 S.A. 3} p.c., 1939 .. 85 o 6 87 0 0 S.A. 3 p.c., 1916 or after ... 61 0 0 61 0 6 W.A. 6 p.c., 1930-40 ... 102 O 0 101 0 0 W.A. 3J p.c., 1920-35 ... 89 10 0 89 0 0 W.A. 3 p.c., 1915-35 ... ... 85 1 1 6 S3 10 0 Tas 61 p.c., 1930-40 ... 103 0 103 5 0 Tas 3.J p.c., 1920-40 — ... 84 10 0 83 15 0 Tas 3 p.c., 1920-40 ... 78 5 0 78 0 0

Par. Aug. 22 Aug 25. Paris, fr. to £1 21.22J 124.00 124.00 Brussels, belgas to £1 5 34.93 34.92 Oslo, kr. to £1 18.19 18.67 18.70 Stockholm, kr. to £1 ... 18.159 18.11 18.11 Copenhagen, kr to £1... 18.459 18.15 18.15 Berlin, reiohmkn to £1 20.19 20.42 20.42 Montreal, dot to £1 — 4.852 4.86 5-16 4.86 1-16 N’ew York, dol. to £1... 4.86J 4.86 3-1G 4.86 5-32 Yokohanfa, st. to yen— 24.5 23 7-16 23 7-16 Hongkong, st to dol.— * 23 5 23’ Calcutta, st to rpe, 16 to gold £ 173 17’ Rome, lire to £1 22.221 89.2 89.25 Amsterdam, guild, to £1 12.107 12.131 12.1.3’ Batavia, guild, to £1 — 12.107 12.13J 12.13J •Governed by price ol silver.