LATE COMMERCIAL

Southland Times, Issue 21429, 25 June 1931, Page 8

LATE COMMERCIAL

LONDON FINANCE MARKETS. (United Press Assn.—By Telegraph—Copyright.) London, June 23. Gold is quoted at £4 4/101 per ounce. Banks: Australasia £8 5/-; New South Wales £2l 10/-; Union of Australia £6 8/9; National of New Zealand £4 2/6; New Zealand, four per cent., £94; Shares £2 10/-. New Zealand Loan and Mercantile, four per cent, debentures, £65 10/-; ordinary stock 16/-. The Stock Exchange is quieter and British funds have eased slightly, but Australians have further hardened. Dealings were as follows: — Commonwealth, five per cent., £7l 10/-; six per cent. £B4. Victorian, three per cent., £5l; five per cent., £6B 10/-; 4} per cent. £62. New South Wales, four per cent. £64; 31 per cent. £4B 10/-; 64 per cent., £75. Queensland, five per cent., £66 10/-. WORLD’S WHEAT. THE PRESENT SITUATION. Ottawa, June 23. The Dominion Bureau of Statistics in issuing the grain outlook summary on the instructions of the Minister of Trade declares that without discounting unfavourable factors the present situation is more encouraging than for some months. The low European wheat stocks, the decreased acreage in many countries, and unfavourable crop prospects in North America are factors which might bring about an increase in price. The depressing factors are huge stocks in Canada, the world depression and reduced buying power, the reigning selfsufficiency of European importers, the large United States winter wheat crop, a sharp falling off in the export demand this month and the uncertainty of the Rusisan situation. FOREIGN EXCHANGES. (British Official Wireless.) Rugby, June 23. The following rates on foreign exchange are current to-day compared with par:—

To-day. Par. Paris, fr. 124.254 124.21 New York, dol. 4.86 11-16 4.866 Brussels, belga 34.94 35.00 Geneva, fr. 25.091 25.22 Amsterdam, fl. 12.09J 12.10 Milan, lira 92.964 92.46 Berlin, r.m. 20.48 20.43 Stockholm, kr. 18.144 18.159 Copenhagen, kr. 18.164 18.159 Oslo, kr. 18.164 1-8.159 Vienna, sch 34.624 34.585 Prague, kr. 1641 124.02 Helsingfors, mark 193.1 192.23 Madrid, pec. 49.85 25.225 Lisbon, escu 110J 44 Athens, dr. 375 375.00 Bucharest, lei. 817 25.225 Rio de Janeiro, mil. 3 13-16 5.899 Buenos Aires, dol. 35 9-16 45.57 Montevideo, rupee 29 ' 45.57 Bombay, rupee 17-Jd 18d Shanghai, tael 14{d Hong Kong, dol. llld Yokohama, yen 24 gd 24.58d