COMMERCIAL

Poverty Bay Herald, Volume LIV, Issue 16808, 22 November 1928, Page 4

COMMERCIAL

FOREIGN EXCHANGES * (British Official Wireless.* Roc. 10 a.m. RUGBY, Nov. 20. Foreign Exchanges are: Paris, 124.10 francs; New York, 485 cents; Brussels, 34.,89 francs; 'Geneva, 25.19 Jrancs.; Amsterdam, 12.0811.; -Milan, 92.55 lira; Berlin. 20.36- marks; Stockholm, 18.P* kr. ; Copenhagen, 18.19 kr. ; Oslo, 18.19 kr.; Vienna, 34.52 sell.; Prague, 153.75 kr. ; Helsingfors. 192.75 marks; Madrid, 30.C3 pes; Lisbon. 1C8.C6 est'.; Athens, 375 dr.; Bucharest. 805.5 lei; Rio 5 21-52 d; Buenos Aires. 47 15-32 d : Bombay, 18 l-32d; Shanghai. 31^d; Hongkong. 24{d; Yokohama, 23d. ENGLISH WHEAT MARKET (Elec. Tel. Copyright—United Press Assn.l (Australian Press Assn.—United Service.) (Received Nov. 22. 10 a.m.) LONDON, Nov. 20.

Wheat cargoes are firm owing to the sustained Indian demand. Australians generally are 3d to 6d higher. Parcels are in moderate request at an advance of 3d. Liverpool futures: December, 9s 3gd ; March, 9s 4|d ; May. 9s 4|d. CHICAGO WHEAT PRICES 'Australian and' N.Z. Press Association (Received Nov. 22, 10 a.m.) CHICAGO, Nov. 20. Wheat: December. 1152 : March, 1203; May, 1233 cen t, s . SYDNEY WOOL SALES SYDNEY, Nov. 21. At the wool sales there was an active market and strong general competition. The bales sold totalled 12,127. Merino made 30{d. Murray, Roberts and Co., are in receipt of the following cable message from their London office:—"Sales have opened with a large attendance of buyers and competition is good. All sections are operating freely. Merino, par to 5 per cent, advance;" crossbred greasy, none offering; crossbred scoured, par to 5 per cent, advance,; slipe line and coarse crossbred advanced 5 per cent., medium 7-£ per cent.''

The N.Z. Loan and Mercantile Agency (Jo. are in receipt of the following cable message from their London house, under date of 20th inst. :—"There was a good attendance at the opening of the salet to-day, competition by Continental buyers being active, with'fair home demand. PrfeVs. as compared with the close of tho preceding series, ruled par to 5 per cent, higher for merino, and 5 per cent, to 7-i per cent, for crossbred slipe. No crossbred greasy was offered. The. opening catalogues were fairly representative."

Judging by merchants' orders this year, there will be sufficient cornsacks to meet the farmers' requirements, so far as Canterbury is concerned at any rate, for tho coming season. At the end of last season an unexpected prolific crop brought about an acute shortage, but a repetition of this has been guarded against by bigger pur-

chases. There is also the possibility ■that the previous price of Is 4d a sack for 48's to fanners may be .a penny lower. A uniform ligure, however, will lie decided upon by the Merchants' Association, which will meet within a week. The main shipment has left Calcutta, and is due to land some time in January. The first shipment, the August consignment, was sold at. Is -fd. On this price, the farmer, when he returns the sacks, will receive a rebate ol about .'ls I'd. At the close of the previous season, the shortage was so pronounced that the merchants were glad to get returns at any price, and in some cases had to pay the retail value for them.

The Bank of Xew Zealand has received cable advice from its London office under date 20th as follows: "The sales opened with strong competition and a large attendance of buyers. There is an active demand by all branches of the trade. Greasy merino Id to lid dearer; slipes average 71 per cenj. dearer; scoured erossbreds lh to 10 per cent, dearer. No groasy erossbreds were offered."