LONDON MARKETS

Sun (Auckland), Volume II, Issue 396, 3 July 1928, Page 12

LONDON MARKETS

FOREIGN EXCHANGE RATES (United P.A.—By Telegraph — Copyright) (Australian P.A. — United Service) Reed. 10 a.m. LONDON, Monday. Foreign rates of exchange on July 2. compared with par rates, or as averaged first half of 1914, are:— July 2 June 28 Par. Brussels, fr. . 34.93 34.92 25.22* Paris, francs 124.18 124.05 25.22* Stockholm, knr 18.18 18. is 18.12 Oslo, knr. . . 18.22 IS. 22 18.12 Copenhagen kr 18.20 35.21 15.12 Berlin, rm. .. 20.40 20.40 _— Rome, lire . 92.77 92.71 25.225 Calcutta, pee 17 15-16 17 7-8 24 Yokohama, pee 22 7-8 227-8 24.43 Hongkong, pee 24 9-16 24 13-16 24 Montreal, dol. 4.88 13-16 4.88 15-16 4.56 C New York. dol. 4.87 11-16 4.87 21-32 4.866 Amsterdam, fl. 12.09 5-8 12.10 3-8 12.107 Batavia, fl. . 12.12 12. P. and O. Shares T\ and O. Deferred Stock is quoted at £240. Price of Gold Gold is quoted at 84s Jo|d an ounce.

HIGH COMMISSIONER'S REPORT

Tender date June 29. the High Commissioner for New Zealand cabled from London the following market resume: Tallow.—The spot market is quiet, but there was improved demand at auction. Present quotations are: Mutton, fine, 42s to 42s 6d; per cwt.; fair to good, 40s to 41s 9d; dark to dull, 37s 6d to 38s. Beef: Sweet and/or mixed, 41s 6d to 445; fair to good, 38s 6d to 41s 6d: dark to dull, 37s to 37s 6d. Mixed: Fair to good, 38s 6d to 41s; dark to dull, 37s to 37s 6d. Gut, etc., 35s to 3Ss. Hemp.—The Manila market is quietly steady. “J” grade July-September shipment value is £37 10s. The sisal market is dull. Values of July-Septem-ber shipment are: No. 1, £34 to £34 10s; No. 2, £32 5s to £32 15s. The New Zealand market is dull. Nominal values for July-August shipment are: Highpoints, £3l; fair. £2B ss; rejected, £26 ss. Tow: No. 2, £2O; No. 3, £l7 10s. Wool. —Business in tops is very restricted, and prices tend in buyers’ favour. Present quotations for tops are: 64's (Merino), warp, 4s 6id to 4s 7d a lb.; average, 4s 5Jd; 56’s (super halfbred), 3s 4£d; 50’s (halfbred), 2s to 2s 8d; 40’s, prepared, 2s Id to 2s l£d. Apples.—The Port Adelaide’s shipment was satisfactory. The Zealandic, Somer-

set, Mamari and Tongariro have arrived and are discharging:. The market is quiet. T.ondon prices are. Sturmer, 10s to 12a 6d a case: Dougherty. Rokewood. 12s to 14s; Statesmen. Hoover and Pioneer, 12s to 13s. Otago: Jonathan. Delicious. Cleopatra. Newton Pippin and Scarlet Nonpareil, 12s to 14s; Spitzenberg, to 13s; Sturmer, 10s to 12s 6d. Pears.—The shipment ex Somerset is [ very wasty. No sales have yet taken | Place. TARANAKI OIL REPORT rress Association. GISBORNE, To-day. i Taranaki Oil Fields, Ltd., reports: | ‘‘The Gisborne No. 1 well has been J drilled to 3,025 feet in caving shale. The j whole of the 45-inch diameter casing has been recovered; Hi-inch diameter ; casing requires straining up; now en- ! deavouring to cary this out. The Gisj borne No. 2 well has been drilled to 565 feet in firm sandstone. Two days j were occupied in working the 125-inch casing, which was finally set at 806 feet. Two days were lost owing to a broken stem. Everything is clear now tor drilling for 10-inch diameter casing.’’ MINING NEWS LUCKY SHOT.—The secretary reports: "Mr. Jack Smith, ot‘ the Thames, has been appointed mine manager. Work at the mine will be resumed, to-morrow (Wednesday), July 4." AUCTION NOTES Robert C. Carr and Son, under instructions from the Railway Department, will sell by public auction at the Auckland Railway inwards goods shed, Mechanics Bay, Parnell, to-morrow (Wednesday), at 9.30 a.m., lost and unclaimed luggage, comprising goods of all descriptions, to be offered -without reserve.