LONDON MARKETS

Sun (Auckland), Volume 1, Issue 32, 30 April 1927, Page 7

LONDON MARKETS

BANK OF ENGLAND RETURNS LONDON, Friday. The Bank of England returns for the week ended April 28, as compared with those for the week ended April 21, are as follows:

SHORT LOANS Short loans, 3i per cent, same as last week; three months’ bills, 35 per cent, compared with 3 3-S per cent last week. CONSOLS AND COLONIAL STOCKS The following table gives quotations for Consols and colonial inscribed stocks, compared with those of April

THE FOREIGN MARKETS The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on April 25 and par:

METAL PRICES (Quotations on April 25 in parentheses) Copper.—Spot, £54 14s 4id (£54 16s 3d); three months, £55 5s 7J# (£55 8s 9d). Lead.—Spot, £25 13s 9d (£25 11s 3d); three months, £26 5s (£26). Spelter.—Spot, £29 6s 3d (£29 2s 6d); three months, £29 8s 9d (£29 3s 9d). Tin.—Spot, £295 11s 3d (£294 2s 6d); three months, £290 2s 6d (£290 17s 6d). Silver.—Standard, 25 7-8 d (25 7-8 d) per ounce; fine, 27 15-16 d (27 15-16 d). GRAIN AND FLOUR Wheat.—Cargoes: Trading is fairly actove on Home and Continental account, but the demand for an advance of 3d to 6d has restrained buyers. The Sheafmont’s and part of the Yarra’s cargoes realised 54s lid; part of the Anten’s, 54s 3d; by Port Wellington, bags 53s 9d, bulk 53s 3d; by Baron Ardrossan, 54s 3d. Parcels are in moderate demand at 3d above late rates. By the Persic, 53s 9d net; by the Cornwall, 54 s; by the Port Adelaide (sold at Dunkirk), 54s 6d; by the Crefeld, for the Continent, 54s 3d. Liverpool futures: May, 10s 7Sd per cental; July, 10s 51d; October, 10s 2 5-Bd. Spot trade fairly active, prices tending upward. Australian, ex ship, 56s 6d. Flour. —Firm; Australian, ex store, 39s 9d. Oats. —Firm. Peas and Beans. —Quiet. Sugar.—Granulated, £32 10s 6d per ton. DAIRY MARKET The London butter market is quiet, and prices are s. shade easier. Choicest Australian and New Zealand, salted, are quoted as 150 sto 1525; Danish is weaker at 160 s. Cheese is steady. New Zealand, 75s to 765; Australian, 73s to 745.

Dalgety and Co., Ltd., report having received the following cablegram from their London house, dated April 28: Butter —The market is steady at I present prices; New Zealand 151 s t 1535. Cheese —The market is stea< at present prices; New Zealand whit ; cheese 75s to 765, coloured 755; Canadian cheese, spot. 84s to 965. FROZEN MEAT QUOTATIONS London frozen meat quotations, at April 28 were as follow, according: to cabled advice received by Messrs. Dalgety and Zealand Lamb.— Canterbury, 28-361 b . Old; North Island, 28-361 b., B£d; Canterbury, 36-421 b, B|d; North Island, 36-421 b. 8Id; North Island, second qualiitv Sd; Canterbury, 42-501 b. 81d: North Island. 42-501 b, Bd. The market for New Zealand lamb is firmer. The demand runs principally on light weigths. Prime New Zealand Mutton.—Canterburv. 48-561 b, North Island, 48-561 b, 6d* Canterbury, 56-641 b, 52d; North Island, 56-641 b, s!d; Canterbury. 64-721 b, 41d; North Island. 64-721 b, 4 Id; Canterbury ewes 4S-641b, 32d North Island ewes, 48-641 b, 3id. The market lor New Zealand mutton is firm owing to light stocks. The demand runs principally on lightW Australian Lamb and Mutton.—O.A.Q. lamb, 2S-361b, Sd; G.A.Q. lamb, 36-421 b, 7j d The market for lamb is firm owing to iight stocks. The demand runs principallv on all poorer qualities. G.A.Q. mutton, 40-601 b, 3£d. The market for mutton is firm. The demand is moderate. Beef Quotations. —New Zealand prime ox beef hinds, 4d; fores. 3d; Argentine chilled beef, hinds, 4d. The market for New Zealand beef tending upward. The demand poor. „ , , , Butter and Cheese Values. —Lnder daLe \pril 28, Messrs. Norden and Co., Ltd., produce exporters, are in receipt of the following cable from their London prinCl Butter. —Salted, 1525; unsalted, 1645. Cheese. —White, 755; coloured, .6s. Market for both butter and cheese steady.

TALLOW AND HEMP Under date April 27, the New Zealand Loan and Mercantile Agency advise receipt of the following cablegram from their London office: —Tallow: \\ e quote present e.i.f. and e. values for the following descriptions of tallow: Ime mutton, 37s per cwt; good beef, 3Ss per cwt • mixed, 35s 6d per cwt.; market quiet. N.Z. Hemp.—We qute e.i.f. and e.. good fair, £37 10s; high point fair, £35 10s; low fair, £33 10s; market quiet.

April 28. April 21. Note circulation .. 137,5^,000 137,038,000 Coin 154,163,000 152,244,000 reserve 36,397,000 36,560,000 uOVt. deposits 10,170,000 15,244,000 Other deposits . . 98,649,000 110,338,000 Govt. securities 47,940,000 37,956,000 Other securities 42,155,000 68,779,000 .Proportion of reserve to liabilities 33.40 29.10

Consols 2& per cent .. Price. £ s. d. Variation, s. d. British 3i War Loan.. 99 British 5 War Loan . . 102 Conversion Loan, 3£ . . 76 Com’wealth 5i, 1922-27 102 Com’wealth, 6, 1931-41 102 0 Victorian, 3, 1929-49 . . Victorian, 3i, 1929-49 .. Victorian, 51, 1930-40 . 101 Victorian, 5, 1932-42 .. 98* 2 Victorian, 4$, 1940-60 .. 95 N.S.W., 4, 1933 .. 92 N.S.W., 3, 1935 N.S.W., 3J, 1930-50 .. 82 12 N.S.W., 53, 1922-32 .. 99 N.S.W., 6J, 1930-40 102 17 N.S.W., 6, 1930-40 . . Queensland, 35, 1930 Queensland, 3, 1922-4? 68 Queensland, 6, 1930-40 . New Zealand, 4, 1929 .. 97 New Zealand, 3|, 1940 . . New Zealand. 3. 1945 New Zealand, 6, 1936-51 107 10 S. Australia, 3£, 1939 . . S. Aus„ 3, 1916 or after S, Australia, 6i, 1930-40 103 Tasmania, 3£, 1920-40 . Tasmania, 3. 1920-40 . 77 Tasmania, 6|, 1930-40 103 W. Australia, 33, 1929-35 W. Australia, 3, 1915-35 W. Australia, 6, 1930-40 102 5 0 5 Of f Higher. ‘Lower.

April 28. Brussels, April 25. Par. belg-a . . 34.93 Paris, 34.93 5.045 franc . . 124.00 Stockholm, 124.01 25.225 kr. . . . 18.15 Oslo, 18.14 18.159 kr. . . . 18.81 Copenhagen, 18.79 18.159 k kr. . . . 18.21 Berlin, 18.21 18.159 r.m. . . 20.49 20.49 Rome, lire 91.12 Calcutta, 86.45 25.225 pence . 17$ Yokohama, 175 24 pence . . . 23 1-16 Hongkong, 23 £ 24 pence . . 24 1-16 Montreal, 2i!j — dol. . . 4.84 15-16 New York, 4.85 1-16 4.866 dol. . . . 4.852 Amsterdam, 4.85 11-16 4.S66 fl . . . 12.135 Batavia 12.14 12.10 fl 12.12 12.122 12.10