LONDON MARKETS

Sun (Auckland), Volume I, Issue 276, 11 February 1928, Page 12

LONDON MARKETS

BANK OF ENGLAND By Cable.—Press Association. — Copyright. LONDON, Thurs. The Bank of England returns for the week ended February 9, as compared with those for the week ended February 2, are as follows:

to liabilities . . . 37.30 35.50 Short Loans and Bills Short loans, 3J per cent., same as last week; three months’ bills, 4 13-16 per cent., compared with 4 1-8 per cent, last week. Consols and Colonial Stocks

Metal Markets (Quotations on Feb. 6 in parentheses.) Copper.—Spot, £6l 18s lid (£62 5s 75d); three months, £6l 10s 75d (£6l 15s 75d). Electrolytic Zinc.—Spot, £66 10s (£66 10s); three months, £66 los (£66 15s). Wire Bars.—Spot, £66 15s (£66 15s); three months, £66 15s (£66 15sK Lead.—Spot, £2O 15s (£2l Is 3d); three months, £2l 5s (£2l 12s 6d). Spelter.—Spot, £25 17s 6d (£25 17s 6d); three months, £25 16s 3d (£25 17s 6d). Tin.—Spot, £238 Is 3d (£242 13s 9d); three months, £240 3s 9d (£243 13s 9d). Silver.—Standard, 26gd (26 l-16d) an ounce; fine, (28 l-8d). Wheat, Flour and Pulse Wheat.—Cargoes are quiet, and those in near position are easier. There is more Continental inquiry. Parcels are slow, and prices are unchanged. Liverpool futures: March, 9s 9gd per cental; May, 9s lid; July, 10s OJd. Spot trade: Australian, ex ship, 50s. Flour.—Quiet, Australian, ex store, 37s 6d. Oats.—Fair demand. Australian, Algerian, 28s 6d; A Gartons, 34s 6d. Peas.—Dull. Blue Tasmanian, 360 sto 380 s; New Zealand, 340 sto 3605; maples, Tasmanian. 90s to 92s 6d; New Zealand, 82s 6d to 85s. Beans.—New Zealand, 45s to 48s. Sheepskin Sales At the London sheepskin sales 2,742 were offered, of which 1,323 were from New Zealand and 1,103 from Australia. There was a good selection, especially of New Zealand skins. There was a good attendance, and keen competition. The home trade bought freely and Americans participated. Prices advanced, compared with those of December 15, 1927, as follows:—Merinos, 75 per cent.; crossbreds, fine, 10 to 15 per cent.; medium, 10 per cent.; low, 10 to 15 per cent.; pelts, 10 per cent; and lambs 10 to lo per cent.—A. and N.Z.-Sun. CHICAGO WHEAT By Cable.—Press Association. — Copyright. Reed. 10.35 a.m. CHICAGO, Friday. Wheat.—March, 1 dollar 301 cents a bushel; May, 1 dollar 291 cents; July, 1 dollar 27 1-8 cents.—A. and N.Z. FROZEN MEAT IN LONDON Under date February 9 the London office of Dalgety and Co., cabled as follows: — Prime North Island lamb, 281 bto 361 b, IOJd a lb; 361 bto 421 b, 9gd; second quality, B|d. The market for New Zealand lamb tending downwards. The demand is limited. Prime North Island mutton, 481 bto 561 b, 6sd a lb; 561 bto 641 b, 55d; 641 bto 721 b, sd; 481 bto 641 b, sd. The *market for New Zealand mutton is weak. The demand is quiet. Australian lamb, third quality, 6d a lb; 281 bto 361 b, G.A.Q., 9d. The market for Australian lamb is unchanged. The demand is poor. Australian mutton F.A.Q., 301 bto 551 b, 5d a lb. The market for Australian mutton is weak. The demand limited. Beef.—Argentine chilled, hinds, 75d a lb; fores, sd. Pork.—English, 801 bto 1001 b, 95d; New Zealand, 80 to IQOlb, 7d to 75d; baconers, 1001 bto 1201 b, 6Jd; 1201 bto 1701 b, sgd.

Feb. 9. Feb. 2. £ £ Note < circulation • . 135,270,000 135,836,000 Coin . 157,565,000 154,998,000 Reserve .... . 41,205,000 38,792,000 Govt. deposits . • 15,351,000 14,341,000 Other deposits • . 97,305,000 97,583,000 Govt. securities . . 35,576,000 35,258,000 Other securities . 53,197,000 55,027,000 Proportion of reserve

The following table gives quotations for consols and. colonial inscribed compared with those of Friday : 2:— Price. Variation £ s. d. s. d. Consols, 21 per cent. . 55 0 0 5 0* British 31 War Loan 99 11 0 3 9* British 5 War Loan . 101 12 6 2 6* Conversion Loan, 31 . 76 15 0 5 0* Com’w’lth, 51. 1922-27 99 5 0 7 6f Com’w’lth, 6, 1931-41 . 101 10 0 N. Zealand, 4, 1929 . . 99 2 6 2 6f N. Zealand, 35, 1940 . 87 10 0 N. Zealand, 3, : 1945 . . 79 12 6 6 3t N. Zealand, 6, 1936-51 106 17 6 2 6* tHigher; ’lower. Foreign Exchanges The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on February 6 and par:— Feb. 9. Feb. 6. Brussels, belga . 34.99 34.90 35.00 Paris, fr . . . . 124.00 124.00 25.225 Stockholm, kr . . 18.16 18.15 18.159 Oslo, kr . 18.30 18.32 18.159 Copenhagen, kr. . 18.20 IS.20 18.153 Berlin, r.m. . 20.43 20.42 20.43 Rome, lire . . . . 92.05 92.12 25.225 Prague, kr. . . . 164g 164g 24.02 Calcutta, p. . . . 17 31-32 18 1-16 24 Yokohama, p. . . 23 3-32 23 1-8 24i Hong-Kong, p. . 248 24g Montreal, dol. . . 4.88| 4.88 116 4.866 New York, dol. . 4.87 7-32 4.87 116 4.866 Amsterdam, fl. . . 12.108 12.09J 12.10 Batavia, fl. . . • . 12.101 12 091 12.10