COMMERCIAL.

Taranaki Daily News, 30 October 1919, Page 6

COMMERCIAL.

(RATES OF EXCHANGE. By Telegraph—Pi-ess Assn.—Copyright. Received Oct. 29, 7 DO p.m. t London, Oct. 2S. change aTe: London on Paris 17.25, Clirl'sttanla 17.25, Calcutta 2s 4i-.ia,«ttantrcal 4 dollars cents, New York 4 dollars 17% cents. Walht shares.-rßuye.rs 56s 3d, sellers 5Ss 9d. ' Grand Junction.—Buyers 13s 9d and sellers 14s 9d. A BOOM IN COTTON. London, Oct. 28. The boom in the cotton industry In Lancashire continues. Combines are buying up .companies at three times the original capitalisation. One combine commands seven millions of capital. The trade union leaders fear that the overcapitalisation of tho mills will result in efforts to lower wages when depressed trade lowers profits, therefore they' are asking for a conference with the Federation oi Master Spinners, with a view to preventing speculative purchases of mills by outside financial syndi-cates.—Aus.-N.Z. Cable Assn. , i LONDON MARKETS. London, Oct. 25. Cotton.—November delivery, 23 05d. Jute.—Oiiiet; October or November shipment, £67. Hemp.—lnactive; October-December delivery £4O. Rubber.—Para 2s 6d, plantation (smolted) 2s 4%d. Copra,.—Firm; shipment, £55. Linseed oil, 925. Turpentine, 12Bs. The Food Controller has (lied the maximum wholesale price of sultanas at<,l4os per cwt., raisins 13fls 6d, currants lod. ENGLISH AND SCOTTISH BA>'K. London, Oct. 2S. The English and Scottish Bank showed a profit of £133,170 for the year A dividend of in per cent, free of income-tax was declared, £35.000 was added to the reserve, £17,081 provided for cancellation of deposits. £25,000 paid into the officers' fund, and £00,954 carried forward.