FINANCE AND COMMERCE

Taranaki Daily News, 27 October 1932, Page 16

FINANCE AND COMMERCE

STERLING DECLINE CONTINUES. RATES ON FOREIGN EXCHANGES. (British Official Wireless.) Rec. 5.5 p.m. Rugby, Oct. 25. The following rates are current on foreign exchanges, compared with quotations yesterday and par:—

♦Nominal. BASE METALS IN LONDON. GENERAL IMPROVEMENT SHOWN. By Telegraph—Presi Assn.—CopyrlrnU Rec. 7.55 p.m. London, Oct. 25. An improvement is shown in the base metals markets to-day. A marked rise is recorded in the price pf tin. Quotations are:—

* ASSENTED WAR LOAN RISES. 1 COLONIAL STOCKS IN LONDON. (British Official Wireless.) " Rec. 5.5 p.m. Rugby, Oct. 25. 4 Assented War Loan is being sold at r £lO2 to-day, a recovery front yester5 day’s £lOl los. 1 Other prices are: Bank of Australasia, ’ £9 6s. 3d.; Bank of New South. Wales, r £27 7s. 6d.; Union Bank of Australia, ' £7 ss.;' National Bank of New Zea- ' land, £4; Bank of New Zealand, 4 per ’ cent., £99 10s. (ex. div.); ditto shares, 58s. 6d.; Loan and Mercantile, 4 per cent, debentures, £7l 10s.; ditto, ordinary stock, £49; Mount Lyell, 18s. 3d. i ‘ ’ GOLD AND SILVER IN LONDON. t (British Official Wireless.) I Rec. 5.5 p.m. Ougby, Oct, 25. ! Gold is quoted to-day at £6 ss. 4jd. an ounce, compared with £6 2s. lljd. yesterday. Silver is quoted at 18d. an ounce spot and 18 l-Bd. forward, compared with ; 18d. and 18 l-'l6d. respectively yesterday. Silver is quoted at 18d. per standard ounce and 19 7-Bd. per fine ounce, com- > pared with 18d. and 10 7-16 d. yes ter- > day. ' - SHAREMARKET TRANSACTIONS. NEW ZEALAND EXCHANGES. Sharemarket transactions reported last night by the Press Association were:— Christchurch: Commercial Bank of Australia, 14s. 9d. (two parcels); New Zealand Refrigerating (10s. paid), 2s. lid. (three parcels); Australian Glass (cum div.), 40s. 9d.; Cornish Point, 3d.; Golden Point, 6d.; Okarito, Bs. 4d. (two parcels); Waihi (cum div.), 17s. 6d. Sales reported: 5J per cent, inscribed stock, September, 1937, £lOO 55.; j Christchurch Tramway Board, 5J per cent., 1944, £96 (two parcels). i Auckland: Bonds, 1936, 5J per cent., £lOO 2s. 6d.; stock, 1937, 5| per cent., Sept., £100; National Bank of NewZealand, £4 Is. 3d.; Bank of New Zealand (<D mort.), 295.; Standard Insurance, 505.; Leyland. O’Brien, 19s. Bd.; Tooth’s Brewery, 325. 3d. (two parcels); Colonial Sugar, £49 155.; Wilson’s Cement, 315., 31s. 6d.; Cornish Point, 3d.; Golden Point, 6d.; Kawarau, 7d. , SYDNEY STOCK EXCHANGE. BUSINESS STILL RESTRICTED. By Telegraph—Press Assn. —Copyright. Rec. 8.30 p.m. Sydney, October 25. The Stock Exchange is still awaiting the lean decision, and business is restricted. Sales to-day were; Bank of New South Wales, £32 12s. 6d.; Dunlop, 18s. 3d.; Goldsbrough, Mort, 275. 3d.; Australian Drug, Bs. 6d.; Colonial Sugar, £55 10s.; Taranaki Oil, 35.; Commonwealth 4 per cent, bonds, 1938, £lOl 10s.; 1941, £lOO 12s. 6d.; 1944, £100; 1950, £lOO 7s. 6d.; 1957, £101; 1959, £99 15s. Melbourne reports the following sales: Australian 4 per cent, loan stock, 1944, £99 155.; 1947, £99 17s. 6d.; Commercial Bank (pref.), £8 85..; Australian Paper, 205.; Broken Hill Proprietary, 275. IJd.; Roma (block A), Hd. WAIKATO LIVE STOCK VALUES. FAIR INCREASE FOR SHEEP. Hamilton, October 25. Only a medium, entry of ox beef was offered at the weekly Frankton stock sale to-day, no alteration on late quotations being recorded. Cow beef came forward in smaller numbers, but this did not affect the demand, and values were slightly easier. ' There was a heavy yarding of store cattle, comprising mostly yearling heifers, and, although the market was not brisk, the prices realised were generally on a par with recent rates. A short supply of all classes • of sheep resulted in an appreciable increase in values. Quotations for an extra heavy yarding of fat pigs and a medium 1 yarding of stores declined slightly. ■ Sheep: Prime fat wethers sold at 13s. Id. to 13s. 6d., medium life, to Ils. 9d., I lighter 10s. to 10s. 6d., heavy fat hog- 1 gets 13s. to 13s. 6d., lighter Ils. 3d. < to 125., heavy fat ewes Bs. to Bs. 9d., 1 lighter 6s. lid. to 7s, 6d. 1 Cattle: Runners 30s. to 325., vealers

9s. to 135., medium fat steers £6 12s. to £7, lighter £5 3s. to £5 145., medium fat heifers £4 12s. 6d. to .£4 18s., ■medium fat cow’s £4 ss. to £4 Ils., lighter fat cows and heifers £3 ss. to £3 los., freslficonditioned cows 30s. to 355., boner cows 12s. to 205., three-year Shorthorn-cross steers £2 10s. to £2 17s. 6d., one and a half-year to twoyear Shorthorn-cross steers 275. 6d. to 305., choice yearling Jersey heifers £3 10s. to £3 155., yearling Jersey-cross heifers £2,105. to £2 155., smaller yearling Jersey and Jersey-cross heifers 355. to £2 55., one-year grade bulls £2 10s. to £4 12s. 6d.

Pigs: Heavy choppers £2 to £2 145., lighter 255. to £1 155., heavy baconers £2 Is. to £2 65., medium 36«. to £2, light 30s. to , 355., heavy porkers 275. to 305., light’23s. to 265., large stores 20s. to 255. 6d., smaller 17s. 6d. to 195., slips 14s. to 17s. 6d., weaners, good Ils. to 145., smaller 7s. 6d. to 10s.

EGGS, TALLOW AND HEMP. LONDON MARKET CONDITIONS. The Department of Agriculture has received the following cablegram, dated October 22, from the High Commissioner for New Zealand, London:— Eggs: Market firm, with an upward tendency. English national pack, 16s. 6d. to 225.; ■English, ordinary pack, 17s. to 17s. 6d.; Danish, 13s. 6d. to 16s. 6d.; Australian, 141 b. per long hundred, 12s. 6d.; 171 b. per long hundred, 13s. 6d. to 13s. 9d. Tallow: Market continues quiet. Business has been done in mutton at last rates quoted. Hemp: Manila—market steadier, with fair business done in lower grades. “K” grade for October-December shipment, value £l6 ss. Output from January 1 to October 10, 684,000 bales, against 876,000 for same period last year. Stocks in the United Kingdom at September 30, 23,397 bales, against 26,643 bales, same time last year. Stocks in Manila at October 17, 137,000 bales, against 112,000 bales, same time last year. Sisal: Market dull and values have declined, closing No. 1. Good marks for OctoberDecember shipment £l4 10s., and fair average quality £l4 ss. New Zealand — Market continues dull. Small business done in fair at £l4, but buyers apathetic. Common offered at £l3. Stocks in London at September 30, 82 tons, against 14 tons same time last year. SHEEPSKIN AND HIDE SALE. VALUES RULING AT STRATFORD. The New Zealand Loan and Mercantile Ageucy Company, Ltd., Stratford, reports having held the monthly sale of skins and hides yesterday, offering a catalogue comprising 769 hides, 1339 sheepskins and 10 tins of tallow. Buyers were fairly well represented, but competition was not so keen owing to an easing in the overseas markets. The following is the range of prices:— Salted sheepskins: Crossbred, quar-ter-woolled, sound, each 7d.; three-quar-ter-woolled, sound, Is. 4d.; full-woolled, sound, Is. 6d. to Is. Bd.; hoggets, sound, Is. 3d. to Is. 4d.; pelts, sound, 2d., 5d.; lambs, sound, 3d. each. D?y sheepskins: Crossbred pelts,

sound, Id. per lb.; short to woolly pelts, torn and damaged, Jd.; quarter-woolled, torn and damaged, Jd.; quarter-wool-led, sound, fd. to IJd.; quarter to halfwoolled, torn and damaged, Id.; quarter to half-woolled, sound, Id. to 2d.; half to three-quarter-w'oolled, torn and damaged, Id.; three-quarter to full-woolled, torn and damaged, lid.; full-woolled, sound, 2Jd.; hoggets, shorn and sound, torn and damaged, 2d.; sound, 2fd.; double-fleece, id. per lb. Hides at per lb. and net weights: Calfskins, slipy, 2d.; sound, 3Jd., 3|d., 4d., 4|d.; horsehides, 6d., 2s. each; bullhides, sound, Id. per lb.; yearlings, sound, average 261 b., 2d. per lb.; yearlings, slipy, average 231 b., IJd. per lb.; cowhides, cut, average 311 b., Ifd. per lb.; cowhides, slipy, average 331 b., 1 3-Bd. per lb.; cowhides, sound, average 341 b., BJd. per lb.; cowhides, sound, average 461 b., 3 3-Bd. per lb.; cowhides, sound, average 551 b., 3 3-<Bd. per lb.; oxhides, sound, average 461 b., 3 3-Bd. per lb.; oxhides, sound, average 561 b., 4 l-Bd. per lb. Tallow: In tins, 9s. 6d. per cwt.

Oct. 25 Oct. 24. Par. Paris, fr , 84 84% ■ 124.21 New York, dol. .. 3.30% 3.32% 4.866 Montreal, dol. .. 3.60% 3.60% 4.866 Brussels, belga .. 23.72% 23 29-32 35.00 Geneva, fr 17.09% 17.20% 25.225 Amsterdam, fl. • • 8.19% 8.26 12.107 Milan, lire ....... 64% 65 92.46 Berlin, r.m. .... 13.88% 13.99% 20.43 Stockholm, kr. .. 19.16 19.22% 18.159 Copenhagen, kr. . 19.20 19.22% 18.159 Oslo, kr 19.55 19% . 18.159 Vienna, sch 28 %* 29* 34.585 Prague, kr 111% 112 164.25 Helsingfors, mark 230 229% 193.23 40% 40% 25.225 Lisbon, escu 109% 110 110 Athens, dr 575 575. 575 Bucharest, lei. .. 555 570 813.6 Belgrade, din. 250 257%' ' 276.81 Rio Janeiro, mil. 5 9-32 5%* 5.899d Buenos Aires, dol. ♦ ♦ 47.619d Montevideo, dol. .. 30* 30* ■ 51d ■ Bombay, rupee .. 18 11-64 18 11-64 18d Shanghai, tael .. 21 11-16 21 7-16 —d Hong Kong, dol. ;. 16 7-16 16% ——<1 . Yokohama, yen .. 16 7-16 16 3-16 24.58d

Oct. 25 Per ton £ a. d. Oct. 24 Per ton £ a. d. Copper— Standard, spot .... SI 11 10% 31 8 9 Standard, forward 81 14 4% 31 11 3 •Electrolytic 35 10 0 35 10 0 to 36 10 0 36 10 0 Elect, wire bare.. 36 10 0 36 10 0 Lead— Soft, spot .... .. 11 18 9 11 15 0 Soft, forward .... 12 3 9 11 18 9 Spelter— Spot 15 3 9 14 17 6 Forward 15 8 9 15 2 6 Tin— Standard, spot .... 158 11 3 151 7 6 Standard, forward 153 17 6 151 15 0 •American, 5.50 cents a lb., with 5.02 cents on October 24 compared