LATE COMMERCIAL

Southland Times, Issue 19100, 19 November 1923, Page 6

LATE COMMERCIAL

BRITISH CATTLE. EXPORT PROHIBITED (Special to the Times.) WELLINGTON, November 17. Messrs Wright, Stephenson & Co., Ltd., have received a cable message from their London office to the effect that all exportation of cattle from England has been prohibited. A member of the firm intimated to-day that for some time past small outbreaks of foot and mouth disease had taken place in England, and probably the reason for the present prohibition was due to the presence of the disease on a large scale. Although the cabled advice did not say so, it was more than probable that the prohibition would also apply to sheep and pigs. FOREIGN EXCHANGE RATES. (By Telegraph—Press Assn.—Copyright.) (Australian and N.Z. Cable Association.) LONDON, November 13. The exchange rates are as follows: London on Par. Nov. 12. Nov. 16. Paris, fr to £1 25.225 78.65 80.40 Brussels, fr to £1 25.225 90.80 94.25 Christiania, kr to £1 18.159 30.00 30.12 Copenhagen, kr to £1 18.159 25.65 25.60 Stockholm, kr to £1 18.159 16.60 16.52 Rome, lire to £1 loog 10If New York, dol to £1 4.86 4.36| 4.33 f Montreal, dol to £1 4.86 4.43 J 4.41| Hongkong, dol to £1 * 27$d 28d Yokohama, st to yen 21.50 264 26 fd Calcutta, st to rupee 10 to £1 16f 16f *Determined by price of silver. The exchange on Berlin is nominally 15 to 20 billion marks. WHEAT CARGOES. LONDON, November 16. Cargo trading is limited owing to exchanges and is unchanged. Seven thousand tons ex an unnamed steamer from Australia sold in London at 5/-. Parcels are quiet and tending easier. Those ex Devon City sold at Hull at 46/9. STERLING FURTHER DEPRESSED. NEW YORK, November 16. Foreign news, particularly the threat to terminate the Franco-British Entente has depressed sterling to 4 dol. 32| cents Continental exchange following suit. The franc is at 5 3-10 cents and the lire 4 cents all three being at their lowest for 1923. ELIMINATING FRUIT PESTS. LONDON, November 16. The Athenic is carrying a consignment of earwigs in the pupae stage infected with parasites. It is intended to liberate the earwigs in New Zealand orchards in an attempt to destroy fruit pests. CURRENCY DEPRESSION. HEAVY FALL IN AMERICA. NEW YORK, November 17. (Received November 18, 11.5 p.m.) Sterling continued its (’ownward trend reaching 427| cents before business closed for the week, representing a loss of ten and a-quarter cents in seven days. The financial markets, although reacting unfavourably to the European news, suffered smaller losses. Continental currencies and European Government bonds are also all lower United Kingdom five and a-half's, 1937 Bonds, going be’nw par for ths first, time since 192 Q.