COMMERCIAL

Taranaki Daily News, 3 February 1923, Page 5

COMMERCIAL

FOREIGN EXCHANGES. By 'Telegraph.—Press Assn.—Copyright. Received Feb. 2, 7.20 p.m. London, Feb. 1. Following arc the current exchange rates, the last quotation (Jan. 29) and par being giveh for comparison :

CANTERBURY MARKETS. By Telegraph.—Press Association. Christchurch, Last Night. A fair amount of business continues to be done by merchants for ihis period of the year. Wheat Is still the subject of discussion. So far as price is concerned, farmers are looking for a higher price than merchants are prepared to pay. Samples, are already to hand, but no farmer seems anxious to sell. Oats have been easier during the last few days, and the . demand from Australia has fallen off during the week.

Unfortunately, most of the new barley coming forward is discolored to a greater or less extent. This being realised by many buyers, there is a tendecy on their part to purchase old season’s stuff, and consequently some fair pargels of the latter have changed hands during tha last few days. Reports have come to hand that in some instances considerable* damage has been- done to crops by caterpillars, whose ravages have been so bad that three farmers at least will not find it worth their while to cut their crops. The caterpillars only put in an appearance after the heavy rains. Peas have become decidedly weaker owing to the depression in the London market. This is the more unfortunate seeing that the present crops are the largest ever grown. The potato position i's much the same as last week. Reports state blight has made its appearance, in addition to Marchlands, at Yaldhurst and Halswell. The present quotation is about £3 10s for forward delivery. At this lime last year potatoes were quoted at £3 15s to £4. ''Owing to the prices now offering, farniers are not disposed to sell, preferring to await developments. There has not been anything like the amount of speculation done this year as last year.

Feb. 2. Jan. 29. Par. Montreal (dol.) .. 4.71% 4.67% 4.866 Now York (dol.) . . 4.66% 4.63% 4.SCG Paris (fr.) 78.60 74.95 25:255 Stockholm (kr.) .. 17.40 17.35 18.159 Christiania (kr.) .. 24.97 25.05 18.159 Copenhagen (kr.) 24.40 24.23 18.159 Berlin (marks) . . 195,000 152,000 20.43 Rome (lire) 98% 97% 25.255 Calcutta 1/4% 1/4% V Yokohama 2/1 2/1 2/0% Hongkong 2/3% 2/3% 2/