SOUTHERN EXCHANGES

Sun (Auckland), Volume II, Issue 591, 18 February 1929, Page 12

SOUTHERN EXCHANGES

YESTERDAY’S SALES I’rtiS Association Christchurch. Huddart-Parkc- ', 48s, 4i per cent. Government stock (1938), C 99 17s till; National Hank of New Zealand, £7 ss. Dunedin. —Reported: Milburn Lime, 37s (two parcels). WALL STREET DISTURBED REDISCOUNT RATE RUMOUR (Australian and X.Z. Press Association) NEW YORK, Saturday. The New York branch of the Federal Reserve Hoard held a meeting yesterday that lasted over four hours, after which it was simply announced that the re-discount rate would not be raised. The Stock Exchange was considerably disturbed to-day by a rumour that a sensational fight on that subject had occurred yesterday over the telephone! between the board and the Treasury. The unsettled feeling was accentuated j to-day. when call money rose from | per cent, to 3 0 per cent. The market closed weak, and appar- j ♦ iiMy the relief caused by the unchanged ; re-discount rate was tempered by the j length of the board’s meeting and the i reported quarrel with the Treasury, ■ which had supposedly persuaded the New York board to keep down the rate j against the local wish. x i THE LONDON MARKETS iAustralian and XX. Press Association) j LONDON, Saturday. Sheep.—North Island, light, 6id; medium, 6 l-8d; heavy. 5 3-8 d; New Zea-1 land ewes, 4 3-Nd Rambs. —Canterbury. light, 9 7-8 d: 1 medium. 9 7-8 d: oilier selecteds, 9Jd; ! North island, firsts, Did; seconds, 8 7-Sd: Australian, firsts. Victorian, S 3-Sd: ' • •thers, 8 1-Sd; seconds, Victorian, 8 1-Sd: others, Sd; thirds, 7id. Frozen Beef.—Australian crops, 44 5-16 d; hinds, 4 13-HRd. Chilled Beef.—Argentine, fores, 4 L-Sd; hinds, 52d; others unchanged. Cotton. Rubber, Hemp, Etc. (Hast week’s prices in parentheses.) j ‘ ’otton. March delivery, 10.23 d ! (la. 13d) a lb. Rubber.—Pars., 122 d (12id) a lb: plan-! t .»t ion and smoked, lljd (10 7-Sd to lid) a lb. S •ate.—February-March shipments, £35 1 (£34 7s 6d> a ton. Hemp.—Oecember-Februarv shipments, £■’?•; 10s (£36 10s) a ton. Copra.—Marcli-April shipments, £23 7s 6*l « £23 7s 6d) a ton. l.inseed Oil. £3l (£2B 15s) a ton. —I urpentine.—4os» (46s Ud) a cwt. i