MONEY AND MARKETS

Evening Star, Issue 19782, 4 February 1928, Page 4

MONEY AND MARKETS

FOREIGN' EXCHANGES; Press Association—By Telegraph—Gopyrigh LONDON, February 2. (Received February 4, at 1 a.m.) The exchange rates on London 1 fir, as follows:

BANK OF ENGLAND RETURN. LONDON, February 2. The following is the Bank of England return;— ISSUE DEPARTMENT. Koto circulation ... ... ... £135,(t« Notes in reserve ... ... ... 38,11X2,0011 £174,748,0,)! Government debts * £11,015,00! Other securities ... 8,735,000 Gold coin and bullion 154,008,001 £174,748,00!' banking department"' Proprietors’ capital - £14,553,000 Rest ... ••• ••• ••• ••• 3,508,000 Public deposits 14,041,000 Other deposits ... ... 97,583,00!) Seven-day and other bills 2,000 £130,017,001 Government securities ... £35,258,001. Other securities ... ••• 55,027,00!. Notes in reserve ... 38,912,000 Gold and silver coin 880,000 £130*077,000 The proportion of reserves to liabilities is 35.50 per cent. .Short loans are quoted at 3£ per cent., and three-month bills at per cent. LONDON STOCK EXCHANGE. LONDON, February 2. (Received February 4, a I 1 a.m.) The following are the latest quotations for Government securities;—

LONDON, February 2. Wheat: Cargoes are quiet, and; prices are unchanged, with some Continental inquiry for La Platas. . Parcels are in small demand, and occasionally cheaper. Liverpool lutnres: March, 10s lud; May, 10s Old.; July, 10s l|d per cental. Spot trade is quiet, and prices are easier. Australian, ex ship, 51s 6d per quarter. Flour is quiet. Australian, ex store, 37s 9d per sack. Oats, peas, and beans are slow, with prices ’unchanged.—A., and N.Z. and ‘Sun’ Cable. ■ ■■ ■ . NEW YORK, February 2. Chicago wheat quotations^March, 12SH cents per bushel; May, 130; .July, 12SJ. ' J BRADFORD TOPS.- ■ LONDON, February. 2;,, The- Bradford market ;, is hniv. and nominally harder, following;.-.London.. Closing quotations: G4’s, o.JJd; 60s, s(ld ; 56’s, 12d; 50's, 31d ; 46’s, 25id; 40’s, 24d. P. AND 0. STOCK. LONDON, February 2. p. .and 0. deferred stock is quoted at £247. , METALS. ••• LONDON, February 2. Copper.—Spot, £62 10s 7|d; forward, £6l 18s lid. ' . Electrolytic.—Spot, £6o ss; forward, £66 16s. Wire bars, £66 15s. Lead.—Spot, £2O 18s 9d; forward, £ *Spefter.—£2s 17s 6d; forward, £25 16s 3d. . , Tin.—Spot, £245 2s 6d; forward, £240 10s. i . Silver.—Standard, 26 3-16 d; fine, 2Sid per oz. The tin stock is 14,851 tons; spot, 1,408; afloat, 1,797; deliveries, 2,/95. ' AMERICAN BANK RATE. NEW YORK, February 2. The New York Federal Reserve Bank has raised the re-discount rate to 4 per cent. The change is expected to have an instant effect upon the stock market, which lately has been unduly speculative. The Federal Reserve Board was regarded as definitely committed to a policy of tighter money, and the'other ten Federal centres will probably follow the lead of New York, Chicago, and Richmond, all three of which are now charging 4 per cent. AMERICAN EXPORTS AND IMPORTS. WASHINGTON, February 2. It is announced that the United States exports during 1927 amounted in value to 4,864,000,000 dollars and the imports to 4, 184,000,000 dollars. The exports to Australia were valued at 159,125,000 dollars, compared with 168.694.000 dollars in 1926. The exnorts to New Zealand amounted in value to 32,517,000 dollars, compared with 41,574,000 dollars in 1926 The imports from Australia were valued at 38.626.000 dollars, as against 45,738.000 dollars in 1926, and from New Zealand 12,670,000 dollars, compared widi 18.826.000 dollars in the previous year.

Jan. 31. Feb. 2 Paris, (ranc to ,£1 ... ... at. 134.00 124.00 Brussels, belgas to £1 ... 34.97' asOslo, kroner to £1 ... 18.33 Stockholm, kroner to £1 ... 18.1(1 18.15 Copenhagen, kroner to £1 ... 18.20 18.20 Berlin, reichmarken to /II ... 20.4.1 . 20.42 Rome, lire to £1 ... .94.07 91.99 Prague, kroner to £1 ... ... 164J SST Montreal, dollar to £1... ... 4.87 15-16 New York, dolla to £1 ... 4.87 3-16 4.87 3-1 Yokohama, pence to yen ... 231-1(1 23 1-1" Hongkong, pence to dollar ... 24 7-16 24 7-lc Calcutta, pence to rupee ... 18 l-U.. Batavia, guilder to £1 Amsterdam, guilder to £1 ... 12.08| ■12.08J 12.091 12.08,5

Imperial Consols 2£ p-c. War loan, a p.c., 1929-47 ... ... it 55 10 101 i:. p 0 War loan, 3| p.c.. 193.>28 Conversion loan, 3J p.c ::: ... 99 15 77 0 « 0 Commonwealth li p.c.. 1931-41 ... ... ... iOl 6 ... ... OS 17 New Zealand 6 p.c., l!)3li.. r )l ... ... ... Kli u 0 0 New Zealand 4 p.c., VJ-0 ... ... 09 U New Zealand 3i p.c., 11)10 ... ... ... Si 10 0 New Zealand 3 p.c., 19T> ••• • •• ••; 7!) 6 10,1 17, 3 6 New South Wales (i p.c., 1930-40 ... 101 Id 0 New South Wales 5J p.e., 1922-32 ... 101 a 9 New South Wales 4 p.c., 1033 ... ... 03 6 3 New South Wales p.c., 1030-dU ... ... . 83 7 6 New South Wales 3 p.c., 103d Victoria 51 p.c., 1930-40 ... ... 75 10 102 0 0 0 Victoria 5 p.c., 1932-4- ... ... 08 (» Victoria 3J p.c., 1910-49 ... ... .78 Victoria 3 p.c., 10-0-40 Queensland 6 p-c.. 1930-40 ... ... ... 72 101 0 2 0 6 Queensland 3| p.c., loou ... ... o.) J7 G Queensland 3 p.c., ... south Australia 61 p.c., 1930-40 ... ... 101 15 U South Australia 3J p.c., iJd.l - ... 85 10 01 0 0 West Australia (i p.c. 1030-40 ... ... West Australia 3J p.c., 19211-llJ ... ... 80 10West Australia 3 o.c., 19b-3a ... ... 8o 3 102 12 I; Tasmania 3* p.c., 1020-40 ... ... 8i 0 Tasmania 3 p.c., 10-0-4U ... ... " WHEAT, FLOUE, ETC.