LONDON MARKETS

Sun (Auckland), Volume 1, Issue 77, 22 June 1927, Page 2

LONDON MARKETS

Foreign Exchange Rates By Cable.—Press Association. —Copyright LONDON, Monday. The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on

THE METAL MARKETS (Quotations on June 16 in parentheses) Copper. —Spot, £53 18s 9d (£53 16s 10£d); three months, £54 10s 7£ (£54 9s 4£d). Lead.— Spot, £24 2s 6d (£23 18s 9d); three months, £24 8s 9d (£24 10s). Spelter. —Spot, £2B 11s 3d (£2B 15s); three months, £2B 8s 9d (£2B 12s 6d). Tin. —Spot, £296 7s 6d (£294 11s 3d); three months, £286 2s 6d (£286 2s 6d). Silver. —Standard, 26 l-16d (26 7-16 d) per oz.; fine, 28 1-Sd (28 9-16). BRADFORD TOPS On the Bradford tops market there is a slightly improved tone for Alerinos, in which spinners are covering contracts. Crossbreds are firm and unchanged. WHEAT Wheat. —Cargoes are steadier, but slow at 3d dearer, in sympathy with stronger American week-end closing. Parcels are in fair inquiry and tending to be dearer on unfavourable reports of American weather. Liverpool figures: July, 11s 2fd per cental; October, 11s Id; December, 10s 11 5-Bd. —A. and N.Z. LOANS FROM NEW YORK FINANCE OF AUSTRALIA By Cable. —Press Association.—Copyright NEW YORK, Monday. In an editorial article on international finances the New York “World” says international bankers in New York and in Australia predict that the Commonwealth is on the verge of turning to New York for all its industrial and municipal loans. It is stated that New York bankers offer better terms to borrowers than do the London bankers. & The article says It 1 | h in Australia and New York that if Australia were pressed the latter country would give the American banks all the privileges enjoyed by domestic institutions.—A. and N.Z. AUSTRAUAN SHEEP POORER WOOL—FEWER FLOCKS By Cable.—Press Association.—-Copyright MELBOURNE, Tuesday. At the annual meeting of Goldsborough, Mort and Co., the chairman, Mr. Niall, said Australian wool is tending to deteriorate, and the sheep numbers (without allowing for drought losses in Queensland, estimated at seven to eight millions), are 13 millions less than in 1891. Figures led some people to think the industry was in an extremely prosperous condition, and certain polit’cians were attempting to introduce legislation to reduce the area of land being used for sheep-growing. Figures, however, were misleading.— A. and N.Z. w

June 16 and par: — June 20 June 16 Par. Brussels, belga 34.96 34.96 5.045 Paris (fr.) .... 124.00 124.00 25.225 Stockholm, kr. 18.12 18.13 18.159 Oslo, kr 18.77 18.79 18.159 Copenhagen, kr. IS.17 18.15 18.159 Berlin, r.m. .. 20.49 20.49 20.43 Home, lire .. .. 86.95 87.55 25.225 Calcutta, pence 17 7-8 17 15-16 24 Yokohama, pee. 23 3-16 22 15-16 241 Hongkong, pee. 24 1-8 244 Montreal, dol. 4.86 3-16 4.86 1-16 4.S66 New York, dol. 4.85J 4.85 11-16 4.866 Amsterdam, fl. 12.Ill 12.12J 12.10 Batavia, fl. — 12.12 12.10