LONDON MARKETS

Sun (Auckland), Volume 1, Issue 86, 2 July 1927, Page 14

LONDON MARKETS

BANK OF ENGLAND RETURNS By Cable. —Press Association. —Copyright LONDON, Thursday. The Bank of England returns for the week ended June 30, as compared with those for the week ended June 23, are as follows:

SHORT LOANS AND BILLS Short loans, 41 per cent., compared with 34 per cent, last week; three months’ bills, 4 5-16 per cent., compared with 4 3-8 per cent, last week. CONSOLS AND COLONIAL STOCKS The following table gives quotations for consols and colonial inscribed stocks compared with t / se of June 23:

FOREIGN EXCHANGES The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on June 27 and par:

THE METAL MARKETS (Quotations on June 27 in parentheses) Copper. —Spot, £53 9s 4id (£53 15s 7 id); three months, £54 Os 7*d (£54 8s lid). Lea d. —Spot, £23 10s (£24 3s 9d); three months, £23 17s 6d (£24 11s 3d). Spelter. —Spot, £2B 2s 6d (£2B 8s 9d); three months, £2B 2s 6d (£2B 11s 3d Tin. —Spot, £3OO 2s 6d (£3OO 17s ed) ; three months, £285 12s 6d (£285 17s 6d). „ Silver. —Standard: 26 l-16d C-o 3-16 d), per oz.; fine, 28 l-8d (28£d). WHEAT, FLOUR AND PULSE Wheat. —Cargoes are unchanged and 3d lower, although firmer at closing on American reports of rust. Parcels are neglected at 3d decline. Liverpool futures: July-October, 11s per cental; December, 10s Hid. The spot trade is firmer. Australian, ex ship, 58s 6d. Flour. —Quiet, Australian, ex store, 12 s. Oats. —Steady. Peas and Beans. —Dull. Sugar. —Granulated, 31s lid. BRADFORD TOPS There is a better tone on the Bradford tops market for crossbreds, but business is small. Merinos are quiet Topmakers have advanced. Quotations are: —Sixty-fours, 48d; sixties, 44d; fifty-sixes, 355; fifties, 271 d; fortysixes, 21£d; forties, 20Jd. —A. and N.Z. MERCHANTS’ REPORTS Under date June 30, Norden and Company have received the following cable from Andrew Clement and Sons, Ltd., London:—Butter, salted, 160 s; f.o.b. equivalent, Is 3.35 d; unsalted, 1665, Is 3.97 d; market steady. Cheese: White, 84s f.o.b. equivalent, 7.32 d. per lb.; coloured, 85s, 7.42 d. Arrivals: Somerset, Hufunui, Northumberland. Under date June 30, Dalgety and Company Ltd., are in receipt of the following cable from their London house:— Butter: The market is steady, but quiet. New Zealand finest salted, 158 s to 1625; Danish butter, 160 s; Australian butter, finest, unsalted, 164 s to 168 s; salted, 158 s to 1625. Cheese: The market is slow. New Zealand cheese, white, 83s to 84s; coloured, 85s to 86s; Canadian cheese, white, 92s to 100 s; coloured, 92s to 100 s; c.i.f., 85s. W. W. Bowker has reecived the following cablegram from A. J. Mills and Company, Limited, London, dated June 30:—Butter: New Zealand butter sales this week, 158 sto 160 s. Allotments practically cleared. Market closes steadier owing to speculative demand. European markets slightly steadier. Cheese: The market is steady. New Zealand cheese, white, 83s to 84s; coloured, 84s to 85s, clearing. The New Zealand Loan and Mercantile Agency Company, Limited, has received the following cablegram from its London office: Butter, New Zealand, 158 sto 161 s per cwt. (last week, 158 s to 161 s); cheese, 84s to 86s per cwt. (last week, 85s to 875..) Markets steady. FROZEN MEAT QUOTATIONS LONDON VALUES Under date June 30 the London office of Dalgety and Company cabled the following resume of the meat market:— FROZEN MEAT Prime New Zealand Lamb.—Canterbury, 2S-361b., 9d; North Island lamb, 28361 b., Sid; Canterbury, 26-421 b., BJd; North Island, 36-421 b., 8d; Canterbury, second quality, Sid; North Island, second quality, Sid: Canterbury, 42-SOlb., 8d; North Island, 42-501 b., 73d. The market is weak and the demand runs principally on poorer qualities. Prime New Zealand Mutton.—Canterbury, 48-561 b., 6d; North Island, 48-561 b.. 53d; Canterbury, 56-641 b., 5Jd; North Island, 56-641 b., sd; Canterbury, 64-721 b.. 4id; North Island, 64,721 b., 4d ; Canterbury, 4S-641b., 4d; North Island, 4S-641b., 4d. In the market for New Zealand mutton any change is in favour of buyers. The demand is quiet and unchanged. Beef. —Prime New Zealand ox, hinds, sd; fores, 3 5-8 d; Argentine chilled hinds, 8d; fores, 4d. The market for New Zealand beef is firm and the demand is better. Pork. —New Zealand baconers, 120-1701 b, 6id; 1701 b. and over, 6d.

June 30. June 23. Note circulation .. 137,977,000 136,298,000 Coin 151,113,000 152,009,000 Reserve 33,980,000 35,461,000 Government dep. .. 17,875,000 20,168,000 Other deposits . . . . 119,033,000 95,289,000 Govt, securities 51,666,000 49,411,000 Other securities 59,305,000 45,477,000 Proportion of reserve to liabilities .. .. 26.70 30.70

Consols, 2* per cent. .. Price. 54 5 Variation, d. s. d. 0 5 0j British, War Loan . 100 6 2 6f British, 5, War Loan .. 100 17 6 2 6 f Conversion Loan, 3i • . 7 b 17 6 Same. Com’wealth, 57., 1922-27 98 2 6 Same. Com’wealth, 6, 1931-41 103 10 0 Same. Victorian, 3, 1929-49 . . 71 0 0 2 6f Victorian, 31, 1929-49 . . 77 0 0 Same. Victorian, 51, 1930-40 . . 101 12 6 5 0* Victorian, 5, 1932-42 . . 98 12 H 2 6t Victorian, 42, 1940-60 .. 9b 2 5 Of N.S.W.. 4, 1933 92 lo 0 Same. N.S.W., 3, 1935 .. .. 7 b 0 0 10 0t N.S.W., 3i, 1930-50 .. 84 10 0 5 0t N.S.W., 52, 1922-32 .. 101 0 0 2 6f N.S.W., 6i, 1930-40 .. 104 12 6 Same. N.S.W., 6, 1930-40 .. 101 7 6 5 0* Q\ieensland, 3J, 1930 . . 95 0 0 7 (it Queensland, 3, 1922-4 < . Same. Queensland, 6, 1930-40 . 103 New Zealand, 4, 1929 . . 98 2 6 Same. New Zealand, 3£, 1940 . 86 0 0 Sa me. 77 0 5 0t 1 09 0 S. Australia, 37,, 1939 . . 83 0 0 S. Australia, 3, 1916 or 59 s 0 2 6* 104 12 0 Same. Tasmania, 37., 1920-40 .. 83 10 0 Same. Same. 104 12 6 2 fit W. Australia, 32,1929 35 88 6 2- 6* W. Australia, t>, 1930-40 t Higher. ♦Lower.

June 30. June 27. Par. 34.95 34.96 5.045 124.00 18.12 18.12 18.7!) Copenhagen kr. 18.17 18.17 20.49 87.88 83.43 Calcutta, pence 17 29-32 Yokohama, pee 23| Hongkong, pee. 2*1 „ 24i — 4.86g 4.852 4.853 4.866 12.12& 12.10 Batavia, fl 12.11* 12.10