THE LONDON MARKET

Sun (Auckland), Volume I, Issue 282, 18 February 1928, Page 12

THE LONDON MARKET

BANK OF ENGLAND RETURNS By Cable.—Press Association. — Copyright. LONDON, Thursday. Bank of England returns for the week ended February 16, as compared with those for the week ended February 9, are as follows: Feb. 16. Feb. 9. £ £ Note circulation . 134,282,000 135,270,000 Coin 157,996,000 157,565,000 Reserve 42,655,000 41,205,000 Govt, deposits . . 12,970,000 15,351,000 Other deposits . . 101,137,000 97,305,000 Govt, securities . 36,296,000 35,576,000 Other securities . 52,508,000 53,197,000 Proportion of reserve to liabilities .. . 38.00 37.30 Short Loans and Bills Short loans, 3J per cent., same as last week; three months’ bills, 4 3-16 per cent., same as last week. Consols and Colonial Stocks The following table gives quotations for consols and colonial inscribed stocks, compared with those of February 9:— Price. Variation Consols, 22 per cent. .. 55 2 6 2 6+ British 3J War Loan . 99 15 0 3 9t British 5 War Loan .. 101 15 0 2 6f 1 Conversion Loan, 32 . 77 0 0 5 Of Com’wealth, SJ, 1922-27 99 11 3 6 3t Com’wealth, 6, 1931-41 101 7 6 2 6* New Zealand, 4, 1929 . 99 2 6 Same New Zealand, 3J, 1940 87 15 0 5 Of New Zealand, 3, 1945 . 79 15 0 2 6f N. Zealand, 6. 1936-51 106 17 6 Same tHigher. ‘Lower. Foreign Exchanges The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on February 13 and par:— Feb. 16.: Feb. 13. Par. Brussels, belga . . 35.01 35.01 35.00 Paris, fr 124.00 124.00 25.225 Stockholm, kr. . . 18.16 18.16 18.159 Oslo, kr 18.31 18.31 18.159 Copenhagen, kr. . 18.21 18.21 18.159 Berlin, r.m 20.43 20.44 20.49 Rome, lire 92.03 92.03 25.225 Prague, kr. ... 164 g 164 g 24.02 Calcutta, pence . 18 18 24 Yokohama, pence 232 23 1-16 24£ Hong-Kong, p’ce. 248 24 7-16 Montreal, dol. . . . 4.881 4.88 5-16 4.866 New York, dol. . 4.87 g 4.87 7-16 4.8C6 Amsterdam, fl. . . 12.11 12.10 g 12.10 Batavia, fl 12.111 12.11 12.10 Metal Market (Quotations on Feb. 13 in parentheses.) Copper.—Spot, £62 Is 10Jd (£6l 14s 4}d); three months, £6l 10s (£6l Cs lOld). Electrolytic Zinc.—Spot, £66 10s (£66 10s); three months, £67 (£67). Wire Bars.—Spot, £67 (£67); three months, £67 (£67). Lead.—Spot, £2O 2s 6d (£20); three months. £2O 10s 6d (£2O 10s). Spelter.—Spot, £25 12s 6d (£25 12s 6d); three months, £25 12s 6d (£25 12s 6d). Tin.—Spot, £229 17s 6d (£227 17s 6d); three months, £232 17s 6d (£230). Silver.—Standard, 26 3-16 d (24 3-8 d) an ounce; fine, 281 d (28Jd). Wheat. Flour and Pulse Wheat.—Cargoes are firm at 3d advance, owing to the forecast for small Argentine shipments, and unfavourable reports of the winter wheat in France. A quotation is 49s 6d. Parcels are firmer and in better demand; Australian 3d to 6d dearer at 495; Manchester, 49s 6d. Liverpool futures: March delivery, 10s 0 l-8d per'cental; May, 10s 1 3-8 d; July. 10s ljd. The spot trade is slow and prices are generally firm. Australian, ex store, 52s 6d. Flour.—Quiet. Australian, ex store, 375. Oats.—Firm. Peas. —Quiet. Beans.—Steady. Sugar.—Granulated, 29s 4£d. Price of Gold Gold is quoted at 84s ll£d an ounce. Bradford Tops The markqt is harder for all grades, but business is slow; 64’s are quoted at 4s 6£d: 60’s, 4s 3d; 56’s. 3s 7d; 50’s 2s 7id; 46’s, 2s 2d; 40’s, 2s Id. Butter and Cheese The butter market is firm. Choicest salted New Zealand is quoted at 162 s to 1645; exceptionally fine, 1665; Australian, 158 s to 1608. Unsalted New Zealand is quoted at 166 sto 1725; Australian, 158 sto 160 s; Danish, 186 s to 188 s. The cheese market ’is firm. New Zealand is quoted at 94s to 955; Australian, 92s to 93s.—A. and N.Z.-Sun.