THE LONDON MARKET

Sun (Auckland), Volume I, Issue 288, 25 February 1928, Page 12

THE LONDON MARKET

BANK OF ENGLAND FOREIGN EXCHANGES By Cable. —Press Association. — Copyright. LONDON, Thursday. The Bank of England returns for the week ended February 23, as compared with those for the week ended February 16, are as follows: Feb. 23. Feb. 16. £ £ Note circulation .. 134,068,000 134,282,000 Coin 157,917,000 157,996,000 Reserve 43,599,000 42,655,000 Govt, deposits .. 15,033,000 12,970,000 Other deposits .. 94,536,000 101,137,000 Govt, securities .. 31,902,000 36,296,000 Other securities . . 52,276,000 52,508,000 Proportion of reserve' to liabilities .. 39.70 38.00 SHORT LOANS AND BILLS Short loans, 35 per cent., same as last week; three months’ bills, 4 5-32 per cent., compared with 4 3-16 per cent, last week. CONSOLS AND COLONIAL STOCKS The following table gives quotations for consols and colonial inscribed ctocks, compared with those of February 16:— VariaPrice. tion. £sd s d Consols, 25 per cent. .. 55 15 0 12 6t British, 35 War Loan 99 15 0 Same. British 5 War Loan .. 101 17 6 2 61Conversion Loan, 35 .. 77 5 0 5 Ot Com'wealth, 55, 1922-27 99 12 6 1 3+ Com’wealth, 6, 1931-41 101 7 6 Same. New Zealand, 4, 1929 99 6 3 3 9t New Zealand, 35, 1940 87 15 O' Same. New Zealand, 3, 1945 79 12 6 2 6* New Zealand, <5, 1936-51 107 2 6 5 0t S. Australia, 35, 1939 86 0 0 10 Of S. Aus., 3, 1916 or after 61 0 0 2 6t S. Aus., 65, 1930-40 . . 102 0 0 2 6f Tasmania, 35, 1920-40 84 5 0 Same. Tasmania, 3, 1920-40 80 0 0 Same. Tasmania, 65, 1930-40 102 15 0 2 61 W. Aus., 35, 1929-35 .. 89 5 0 Same. W. Aus., 3, 1915-35 .. 86 5 0 2 6f W. Aus., 6, 1930-40 .. 101 7 6 5 0* tHigher. *Lower. FOREIGN EXCHANGES The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on February 21 and par:—• Feb. 23. Feb. 21. Par. Brussels, belga 35.04 25.03 35.00 Paris, fr 124.00 124.00 25.225 Stockholm, kr. 18.17 18.17 18.159 Oslo, kr 18.32 18.32 18.159 Copenhagen, hr 18.32 18.20 18.159 Berlin, r.m. ... 20.44 20.42 20.43 Rome, lire .. 92.12 92.04 25.225 Prague, kr. .. 154 3-8 1645 24.02 Calcutta, pee. IS 18 24 Yokohama, pee. 23 3-32 23 1-16 245 Hong-Kong, pee. 23 3-8 23 1-8 Montreal, dol. 4.88 15-16 4.88 7-16 4.866 New York, dol. 4.88 4.87 9-16 4.866 Amsterdam, fl. 12.12-3-8 12.11 5-8 12.10 Batavia, fl. .. 12.12 12.11 J 12.10 METAL MARKETS ((Quotations on Feb. 21 in parentheses.) Copper.—Spot, £6l Is 105 d (£6l 10s 75d); three months, £6O 16s 105 d (£6l 4s 45d). Electrolytic Zinc.—Spot, £66 5s (£66 10s); three months, £66 15s (£67). Wire Bars.—Spot, £66 15s (£67); three months, £66 15s (£67). Lead.—Spot, £2O (£l9 17s 6d); three months, £2O 6s 3d (£2O 7s 6d). Spelter.—Spot, £25 (£25 6s 3d); three months, £25 (£25 7s 6d). Tin.—Spot, £227 18s 9d (£230 2s 6d); three months, £230 12s 6d (£233 2s 6d). Silver.—Standard, 26Jd (26 3-16 d) per oz; fine, 28 5-16 d (28 5-16 d). WHEAT, FLOUR AND PULSE Wheat.—Cargoes opened firmly at an advance of 3d to 6d, but later buyers were inactive. Parcels were held for an advance of 3d to 6d, but the closing tone was easier. Liverpool futures: March, 10s 1 5-8 d per cental; May, 10s 22d; July, 10s 32d. Spot lots firmer. Australian, ex-ship, 535. Flour.—Firmer. Australian, ex-store, 36s 9d to 37s 6d. Barley.—Quiet. Beans and Peas.—Steady. BRADFORD TOPS The Bradford tops market is quieter, and business is restricted. Quotations are firmly maintained. 64’s are quoted at 4s 6d a lb; 60’s, 4s 3d; 56’s, 3s 7d; 50 s, 2s 8d; 46's, 2s 2d; 40’s, 2s Id.—A. anu N.Z.-Sun.