LONDON MARKETS

Sun (Auckland), Volume I, Issue 300, 10 March 1928, Page 12

LONDON MARKETS

BANK OF ENGLAND RETURNS By Cable.—Press Association. — Copyright. LONDON, Thursday. The Bank of England returns for the week ended March 8, as compared with those for the week ended March 1, are as follows: — March 8. March 1. Note circulation . 135,115,000 135,349,000 Coin 157,598,000 157,249,000 Reserve 42,533,000 41,650,000 Govt, deposits .. 8,462,000 10,140,000 Other deposits .. 102,879,000 98,507,000 Govt, securities . 31,762,000 30,683,000 Other securities . 55,321,000 54,587,000 Proportion of reserve to liabilities 38.10 38.30 SHORT LOANS AND BILLS Short loans, 32r 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 stocks, compared with those of March 1; Price. Variation £ s. d. s. d. Consols, 2J per cent. .. 55 5 0 10 0* British 5 War Loan ..102 0 0 2 6f Conversion Loan, 3£ .. 76 7 6 7 6f Com’wealth, s£, 1922-27 98 15 0 20 0* Com’wealth, 6, 1931-41 101 8 9 1 3* New Zealand, 4, 1929 . 99 13 9 1 3t New Zealand, 3£, 1940 . 87 17 6 Same New Zealand, 3. 1945 . . 78 12 6 22 6* New Zealand, 6, 1936-51 107 10 0 5 Of tHigher. 'Lower. The British 3£ per cent. War Loan w T as redeemed on March 1. FOREIGN EXCHANGES The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on March 5 and par:— March 8. Mar. 5. Par. Brussels, belga . 35.00 35.00 35.00 Paris, fr. . . . 124.03 124.02 25.225 Stockholm, kr. . 18.18 18.17 18.159 Oslo, kr 18.32 18.31 18.159 Copenhagen, kr. 18.22 18.21 18.159 Berlin, r.m. . . 20.40 20.42 20.43 Rome, lire . . 92.28 92.42 25.225 Prague, kr. . . 164 g 164§ 24.02 Calcutta, pee. .18 18 24 Yokohama, pee . 248 24g Hong-Kong, pee. 24g 24g Montreal, dol. . 4.88 4.881 4.866 New York, dol. . 4.87 13-16 4-.87g 4.866 Amsterdam, fl. . 12.12£ 12.12£ 12.10 Batavia, fl. . . 12.14 12.14 12.10 METAL PRICES (Quotations on March 5 in parentheses.) Copper.—Spot, £6l 3s l£d (£6O 13s l?«d); three months, £6l Is 10£d (£6O 10s 7Jd). » Electrolytic Zinc.—Spot, £66 10s (£66 ss); three months. £66 15s (£66 12s 6d). Wire Bars.—Spot, £66 15s (£66 12s 6d); three months, £66 15s (£66 12s 6d). Lead.—Spot, £2O 10s (£l9 15s); three months, £2O 2s 6d (£2O 3s 9d). Spelter.—Spot, £25 5s (£25); three months, £25 2s 6d (£24 17s 6d). Tin.—Spot, £230 7s 6d (£232 6s 3d); three months, £232 12s 6d (£234 13s 9d). Silver.—Standard, 26 3-16 d (26 3-16 d) per oz; fine, 26 3-16 d (28£d.) WHEAT, FLOUR AND PULSE Wheat.—Cargoes are firm and have advanced 3d to 6d. Quotations are at 53s to 52s 9d. Parcels are firm and in active demand at an advance of 3d to 6d. Quotations are at 52s to 52s 9d. Liverpool futures: March, 10s 1 5-8 d a cental; May, 10s 4d; July, 10s 53d. Spot trade quiet, but firm. Australian, ex store, 52s to 535. Flour.—Firm. Australian, ex store, 37s 6d. Oats.—Short supply. A Gartons, 34s to 355; Australian, Algerian, 28s to 295. Peas.—Blue. Better demand. Tasmanian, 360 s to 380 s; New Zealand, 340 s to 3605. Maples.—Quiet. Tasmanian, 87s 6d to 90s; New Zealand, 80s to 82s 6d. Beans. —New Zealand, 45s to 48s. P. AND O. SHARES P. and O. Deferred Stock is quoted at £239 10s. BRADFORD TOPS The Bradford tops market is firm, but there is more inquiry than actual business. 64’s are quoted at 4s 7d a lb; 60’s, 4§ 4d; 56’s, 3s 7d; 50’s, 2s ■B£d; 46’s, 2s 2£d; 40*s, 2s Id. ZINC CONCENTRATES The annual estimates of the Board of Trade provide £2,037,000 for the purchase or Australian zinc concentrates, the sales or which are expected to return a total of £1,502,000.—A. and N.Z.-Sun. RUBBER RESTRICTIONS British "Wireless—Press Assn.—Copyright RUGBY, Thursday. The Under-Secretary of Foreign Affairs, Mr. G. Locker-Lampson, denied in the House of Commons that in the last 12 months there had been any exchange of views with the Government of the United States about the removal of the restrictions on rub- , ber exports from certain British colonies.—A. and N.Z.