COMMERCIAL.

Taranaki Daily News, 9 July 1923, Page 2

COMMERCIAL.

MELBOURNE HIDE MARKET By Telegraph.—Press Assn.—Copyright. Melbourne, July 6. Hides irregular. Good lines unchanged; medium, inferior and dressed a farthing lower. In some cases the fall is even more marked. BANK RATE RAISED. London, July 6. The raising of the bank rate is attributed principally to the desire to improve the sterling exchange on America, to curtail American borrowings in London, and to check the insecurity due to the political unsettlement. FALL IN STERLING. New York, July 5. Sterling has dropped to 455 cents. BUTTER AND CHEESE. Messrs. Newton King, Ltd., have received the following cablegram from Messrs. R. and W. Davidson, Glasgow : Butter.—Market stronger; salted 154 s to 1565, fresh 15Gs to 160 s. Cheese.—Colored 90s to 925, white 92s to 945. The strike is causing temporary irregularities, and an upward tendency In both articles. Cheese market stronger. SALE AT BULLS. Dalgety and Co., Ltd., Palmerston North, report having had a sale of grade Jersey and Jprsey cross heifers on account of Mr. J. Ellery on his homestead near Bulls on Thursday, the sth instant. Owing no doubt to the continued rough weather and the very wet state of the country there was only a small attendance, as it is evident that dairy farmers are not making extensive purchases until better weather is assured. Quotations: Jersey cross heifers £8 10s, £9, £9 10s, £lO, £lO 16s to £ll ss.