FOREIGN EXCHANGES.

Otago Witness, Issue 3871, 22 May 1928, Page 22

FOREIGN EXCHANGES.

' . • LONDON, May 17.' Par. May 14. Mar 17. Paris, fr. to £1 ... ... 25.22 J 124.00 124.02. Brussels, belgas to £1 ... 25 34.56 34.58 Oslo, kr to £1 ... ... 18.81 18.22 18.23 s Stockholm, kr. to £1 ... 18.105 18.19 18.20 : Copenhagen, kr.’ to’ £l. ... 18.150 18,20 18.20 Berlin, reichmkn. to., fl 0.19 . 20.40 20.40 ’ Montreal, do!, to £1- ... 4,45 4.88 9-16 4.88 7-16 New York, dol. to £1 ... 4.86$ 4.88 3-16 4.88 3-16 Yokohama, pence to yen 24.43 23 22 151-16 Hongkong,' pence to del. 24.3 24J ‘ 25J ’ • Calcutta, pence to rupee 24 •_ ’- 18 ? 18 1-16 Batavia,'- guild, to £1 ..,221221 12.12’. 12-11} Borne, lire to £1 ... ... 25.22} . 92.65. . Amsterdam, guild, to £1 12.107 12.09} 12.09} Prague, knr. to £1 ... 12.107 164} 164}

LONDON WHEAT MARKET. LONDON, May 14. Wheat: Cargoes are quiet, and declined 3d to 6d, owing to the revision of the American crop, estimates. Parcels were offered at reductions of 3d to 9d, but are hot . attracting attention. Liverpool futures: May, 10s 7id; July 10s 10|d; October, Ils Ojd. CHICAGO WHEAT MARKET. ~ ‘ , NEW YORK, May 19. Chicago wheat quotations: May 1475, July 149$d, September 150$ cents per bushel. NEW SOUTH WALES WHEAT. Tl : t ._ i . , SYDNEY, May 19. „ statisticians return of the New bouth Wales wheat yield for 1927-8 shows 47npn t nnn’ 0 T 00 ’v 0 ? compared with I” T le the Previous vear. bd; and London Pippins, 12s to 13. LONDON MARKETS. LONDON, May 17. , ” leat: Cargoes are dull and unchanged at 3d. down. 1 arcels are in quiet demand ac a decline of 3d. inl’TVa? 1 ut ;^ es: Ma y, 10s sjd; July, 10s o 3-8 d; October, 10s lUd. Spot trade is dull. Australian, ex slr.p. 575. Flour is quiet. Australian, ex store, 39s to „„>s Cd. ~ ~ _ May 19. June, 11.2 Cd per lb. 8 ; ’-Sd ei : I>ala 10^d ’ limitation smoked •'ute: May-June, £33. Hemp: May-July, £32. tppra: May-June. £26 15s. -.mseed oil, £3l 10s. urpehtine, 39s 6d. K C qF : Canterbury--Light 7sd, medium 61d: Xorth Island— Um r 6z A , liea y °i d ; New Zealand e> e v 0 -?', Bd; Argentine—Light Cid L :^f 1! ? ’ h v avy S FI; Patagonian—b l-Bd, medium 5Jd, ewes 5 l-5d -i.ambs: Canterbury medium, 9Jd; other k S ht 10d ,’ med ium 9Jd; North O'T- A.o/ rS r S and 9sd, seconds oi ’ S ral ' a " se . conds and Other States S 2 d, thirds BJ d; Argentine—Firsts light, o,<l 1 ata gonian—Firsts light 8 7-8 d medium B{J, seconds BJd. -frozen beef: New Zealand fores 3 7-8 d hauls 5 2 d; Australian hinds, ssd; chilled ~ J’ cntll F for es 4 l-Bd, hinds 7d. Others ci‘ation- C 1 PreS3 Asso ' J he Nestor’s apples brought the followlP?n pr T Ces ,?t Liverpool:—South Austra-nan—-Jonathans, 10s 3d to 13s 3d; Cleopatras, 13s to 14s; Dunns, 10s to 13s; Victorian—Jonathans, 10s to 12s; V^ me n 118 I f s; Cie °P a tras, 12s Cd to las, Duns, 12s to 14s 6d.

_;A- le Otago Farmers’ Co-operative Association of N.Z., Ltd., has received the following cablegram from its London officebutter is steady, but little doing. New Zealand. 166 s to 168 s. Cheese is slow; 955. Meat is unchanged. DAIRY PRODUCE. The New Zealand Loan and Mercantile Agency Company, Ltd., has received the following cablegram from its London house, under .date May 17: lc.?„ Utt ° r 'T' S ' e ' V _ Zealand choicest salted, ibos; market is firm. slow ieeSe ’ t 0 97s ‘ The market is The National Mortgage and Agency Company is in receipt of the following cablegram from London:— 7 , The market is firmer. New Zealand finest, 168 s to 170 s. Cold weather continues. Cheese.— The market is quiet, but signs of improvement White and coloured" wa’rd JbS ’ Canadlan cheese still backBUTTER AND CHEESE. -d ~ • - , , LONDON, May 17. Butter is in better demand and rather ?7o ler ’ Cho’eest New- Zealand, 168 s to 158 s: M Sa mo 1/2S tO u 17 , 6s - Australian, 176 s * 16 ° S unsa!ted « IC2 s- Danish, f n C o^ ceSe < 1S 4. st v ady - n New Zealand, 96s to J,s, Australian, 93s to 945. APPLES AND PEARS. *. ... LONDON, May 14. At the ap e market Hamburgs were easier owing to arrivals by three steamers aggregating 1/0,000 eases,' of which about kal . f wer ® S! 4 ld -, T . he Otira’s aid the Port Brisbane s A ictorian Cleopatras realised Ils to las 6d; Jonathans, 8s to 12s 6d}k S; a ar,d Ry mers ’ 9s 6d to Ils 6d South Australian Cleopatras realised 12s to 16s; Dunn’s, ll s to 16sand Jonathans. 9s to 12s. Western Australian Cleopatras brought lls to lls 6dJonathans, 9s to 12s; and Dunn’s, lls to 13s 6d. Western Australian pears (boxes) realised: Josephines, lls to 16s 6d; Vicars w-\° I^: r Ce^ ers (wasty) - 2s to 7s ; Winter Nelrn. 12s to 16s; Broome Park, 10s to 12s: and Gloutmorceau, 15s to 16s The Rotorua s New Zealand nears (trays) realised: Josephines, 5s to 6s 6d; Minter Coles 2s 6d to 3s; Winter Nelis, 3s to 6s; and Barry’s, 3s to 4s The Oronsay’s Victorian and New South Wales trays brought 6s to 7s 6d; boxes 6s; and Barry s (half-boxes), 6s to‘7s’. lhe Comorin s Tasmanian apples brought: ? d t° 12s; New Yorks, 10s to 12s; French Crabs, 8s 3d to 10 s 6d- Alfnstons 9s to 10s 6d; and others, 7s 6d to 9s 6d.

The apple market is fairly steady, Oronsay s Tasmanian Scarlets realised 8a £ d £> l Os 6d t 0 lls ! Munro’s, 9s 6d to 10s; Crabs and Alfristans, 10s; g s e 'gd^° r^S ’ 93 II s ! others, 8s 3d to The Morton Bay’s and the Ceramic’s South Australian Jonathans realised 10s to lls 6d; Dunns, 12s to 13s; London Pippins, 10a to lls; Strawberry. 8s 6d to Vs 6d. The Maliana s New Zealand Jonathans, s, and Delicious realised 10s to 12s. mt™ were over-ripe and wasty. . lhe Moreton Bay’s Victorian nears were wasty. Half-boxes of Winter Nelis realised 4s 3d to 9s; Josephines, 3s 9d to 8s 9d; Boses, Is 6d to 7s 6d. Boxes

of Keiffers realised. 9s to.lOs 6d; Gloutmorceau, 10s 6d to 15s; and Winter Cole, 7s 6d. ' May 18. The Port Hunter’s New Zealand Dunns realised 12s to 13s; Cox’s, 15s to 18s; Jonathans, 12s to 14s; Delicious, lls to 12s 6d; and London Pippins, 12s to 13. J. SHEEPSKIN” SALES. 1 < ■ LONDON, May 17. At the sheepskin sales 2766 bales were offered, of which 1510 were Australian and 509 New Zealand. There was a good selection of Australian short wools and a good all round selection of New Zealands. Prices were unchanged. America bought freely in crossbreds and France in short wools, while Yorkshire participated all round. THE HIDES MARKET. LONDON, May 19. Hides: Meatworks, dry salted— Queensland and New South Wales, all weights, 16d; wet salted, ll$d; Victorian abattoirs, lljd.' RABBIT SKIN SALES. LONDON, May 17. At the rabbit skin sales 2461 bales were offered and 1340 sold. Hatters were in strong demand from all quarters, especially New York, and the offerings were practically cleared. Australian best medium were 10 per cent above March prices, and inferiors 15 per cent. New Zealand were 121 per cent, to 15 per cent, higher. Furriers were neglected, -with prices unchanged, 80 per cent, being withdrawn, almost entirely New Zealand winter bucks and incomings. LONDON TALLOW MARKET. Messrs Dalgety and Co., have received the following cablegram from their head office, dated May 16: — The tallow market is quiet and prices are unchanged. PRICE OF FINE GOLD. LONDON, May 16. Fine gold is quoted at £4 4s lid. FRENCH CONSOLIDATION LOAN. PARTS. May 16. lhe new 5 per cent, consolidation loan was such a success that the lists were unexpectedly closed. It is understood that the cash subscriptions amount to £80.000,000, exceeding the highest anticipations, and doubtless will have an important bearing on the question of stabilisation. PRICE OF OSMIRIDIUM. . LONDON, May 19. lhe price of osmiridium is unchanged. PHILADELPHIA RESERVE BANK. WASHINGTON, May 16. aA. message from Philadelphia states that the Federal Reserve Bank at Philadelphia has raised the rediscount rate from 4 per cent, to 4} per cent, on all maturities. P. AND 0. DEFERRED STOCK. LONDON, May 15. LONDON. May 18. I . and 0. Deferred Stock is quoted at £246. A WALL STREET RECORD. ’ WASHINGTON, May 17. Federal reserve loans on stocks and bonus in New York City during the past week reached a new record of 4,502,048 000 dollars. AUSTRALIAN MARKETS. MELBOURNE. May 17. Hides are irregular. Stouts and kips are unchanged, while others are $d to Ad lower. MELBOURNE, May IS. Flour, £l3 2s 6d to £l3 7s 6d. Bran, £6 15s. Pollard, £8 10s. Milling, 3s 9d to 4s 2d; feed, 3s Barley: English, 5s to 5s 3d; Cape, 4s. Potatoes. £2 15s to £4. Onions, £9. SYDNEY, May 17. Wheat: Growers’ bagged lots, at country stations, 4s lljd to ss; ex truck, Sydney. 5s 7d to 5s 71d. Flour: The export trade is lifeless; local, £l3 15s. Bran, £7. Pollard. £B. Oats: Tasmanian Algerian, 4s 6d to 4s 9d; white, 4s 6d to 4s lOd. Maize: Yellow, 4s 2d; white, 4s 6d. Potatoes: Tasmanian. £5 to £8 10s. Onions: Victorian, £l3. „ T , , _ May 18. Wheat: Buyers, 5s 8d to 5s BJd, on trucks alongside steamer, but sellers are not offering. Farmers’ stored lots are about 5s 7d. ADELAIDE. May 17. Wheat: Growers’ lots, 5s 6d to 5s 7d. Hour: Bakers’ lots, £l4. Bran, £7 2s 6d. Pollard. £8 15s. Oats, 3s 3d. -