THE LONDON MARKETS

Sun (Auckland), Volume II, Issue 584, 9 February 1929, Page 12

THE LONDON MARKETS

MONEY, PRODUCE AND METAL BANK OF ENGLAND RETURNS (Australian and N.Z. Press Association) ( United Service) LONDON, Thursday. The Bank of England returns for the week ended February 7, as compared with those for the week ended January 31, are as follow: —

Short Loans and. Bills Short loans, 4J per cent., compared with 3i per cent, last week: three months’ bills, 51 per cent., compared with 4 5-16 per cent, last wek. Consols and Colonial Stocks The following table gives quotations for consols and colonial inscribed stocks, compared with those of January 31:— VariaPrice. tion. £ s. d. s. d. Consols, 2i per cent. 56 0 0 10 0* Funding Loan, 4, 196090 90 5 0 20 0* War Loan. 5, 1929-47 102 10 0 5 0* Conversion Loan, 3i .. 79 5 0 12 6 Com’wealth, si, 192227 9S 12 6 Same. Com’wealth, 6, 1931-41 100 12 6 52 6* New Zealand, 4, 1929 100 7 6 2 6f New Zealand, 3i, 1940 88 5 0 2 6t New Zealand, 3, 1945 80 12 6 2 61 New Zealand. 6, 1936-40 106 7 6 2 6* tHigher. ’Lower. The Commonwealth 6 per cent, stock is quoted ex dividend. Wheat, Flour, Pulse, Etc. Wheat.—Cargoes are steadier on the increased bank rate and better American advices, and a good Indian demand. By an unnamed ship in February to Karachi, 44s 9d; by the King Idwal to Calcutta, 44s 3d. Cargoes by two unnamed Japanese steamers, in March and April, were sold at prices which were kept secret. Parcels are rather steadier. Ex Euripides, 47s Ud. Liverpool futures:—March delivery, 9s lgd a cental;: May. 9s 3 5-8 d; July, 9s 6d. The spot trade is quiet and firm. Australian, ex ship. 495. Flour. —Steady; Australian, ex store, 36s 3d. Oats.—There is a better demand. Australian and Algerian, 27s 6d to 295. A grade Gartons, 31s to 325. Peas.—Neglected; Blue Tasmamia/ns, £l7 to £IS: New Zealand, £l6 to £l7. Maples.—Tasmanian. 70s to 72s 6d; New Zealand, 60s to 62s 6d. ’ Beans.—New Zealand. 49s to 50s. Sugar.—March, Ss S3d. Bradford Tops The market is weak and business at a standstill. 64’s are quoted at 3s 9d a lb; 60's, 3s 6Xd; 56’s, 2s S£d; 50’s, 2s 4id; 46’s, Is lid; 40’s, Is lOd. The Metal Markets (Quotations on February 1 in parentheses) C’opper.—Spot, £7B 10s (£SO 2s 6d); three months, £77 16s 3d (£77 13s 9d). Electrolytic Copper.—Spot. £B3 (£BO 15s): three months, £B3 10s (£SI ss). Wire Bars.—Spot, £S3 10s (£Bl ss); three months, £S3 10s (£Bl ss). Lead. —Spot, £22 18s lid (£22 is 6d); three months. £23 (£22 11s 3d). Spelter.—Spot, £26 6s 3d (£26 8s 9d); three months, £26 10s ( £26 12s 6d). Tin. —Spot, £225 12s 6d (£222 2s 6d); three months. £226 7s 6d (£224 3s 9d). Silver. —Standard. 22 5-1 6d (26 3 -16 d ) an oz; fine, 2Sd (2S.ld) an oz.

Feb. 7. Jan. 31. £ £ Note circulation . 409,626,000 412,714,000 Coin 154,615,000 157,695,000 Reserve 52,398,000 57,334,000 Govt, deposits .. 8,351,000 19,229,000 Other deposits .. 105,504,000 96,073,000 Govt, securities . 55,387,000 50,502,000 Oth€-.r securities . 24,242,000 25,604,000 Proportion of reserve to liabilities 46.00 49.70