COMMERCIAL.

Taranaki Daily News, 14 October 1922, Page 5

COMMERCIAL.

I DRAFTS AND TRANSFERS By Telegraph.—Press Assn.—Copyright. Received Oct. 13, 7.30 p.m. London, Oct. 12. The Associated Australian Banks have raised the selling rates on Australia and New Zealand for drafts and mail transfers to 12s 6d per cent.- premium, and cable transfers to 20s. FOREIGN EXCHANGES. THE LATEST RATES. Received Oct. 13, 7.30 p.m. London, Oct. 12. Following are the current exchange rates, a comparison being given with the last report (October 9) and par:—

CANTERBURY MARKETS. By Telegraph.—Press Association. Christchurch, Last Night. During tlie last two days the demand for white and red clover has increased to a remarkable extent. Yesterday it commenced to spurt, and to-day it almost reached excitement. The reason, no doubt, is that, buyers have been hanging off till the last minute, and since the stocks available are lot?, they feel they have to act quickly if they do not want to be caught. Inquiries are from both ends of the Dominion, Auckland and Dunedin, and some large parcels have been got for these places. White clover is up to from Is 2d to Is Gd, and cowgrass SP/iad to lOd. The demand has also had the effect of hardening prices for Italian and perennial ryegrass. Oats are belnatf disposed of at a satisfactory figure considering the state of the market. Under-grade oats are being inquired for in Australia, and quantities of better grade are being shipped to Britain. These have had the desirable effect of stimulating local business, which was badly in need of resus- | citation- The demand for fowl wheat has brightened up during the last few days, with a consequent hardening in price. There Is good inqubv for exportable seed. Very little business is being done in chaff. It is reported there is a demand in Auckland for the seed, but if such is the case it has not yet made any appreciable difference to business in Canterbury. Potatoes are quieter, and prices have dropped still further. A Jew potatoes from Auckland have been placed on the market, but I have not been handled by ’

Oct. 12 Oct. 9. Par. Montreal (dol.) .. 4.42% 4.41% 4.866 New York dol.).. 4.43 4.41% 4.866 Pans (fr.) 58.63 58.40 95. 955 Stockholm (kr.).. 16.64 16.67 18.159 Christiania (kr.).. 24.70 25.00 18.159 Copenhagen (kr.) 21.80 21.S3 18.159 Berlin (marks) .. 11,900 12,150 20.43 Rome (lire 103% 103% 25.255 Calcutta .. Is 3%d Is 3%d 2s Yokohama 2s 2d 2s 2%d 2s 0%d Hongkong 2s 6%d 2s 6%d 2s