COMMERCIAL.

Taranaki Daily News, 28 October 1922, Page 8

COMMERCIAL.

FOREIGN EXCHANGES. FOREIGN RATES WEAKEN By Telegraph-—Press Assn.—Copyright. Received Oct. 27, 8.35 p.m. London, Oct. 26. Following are the current exchange rates, a comparison being given with the last report (October 23) and par:—

The fall in the franc Is chiefly due to the unsatisfactory Budget, and also speculation by arbitrage dealers on the Bourse,., who are flooding the market with francs in order to buy dollars.

The collapse of the lire is attributed to the Government’s heavy purchas* of dollars to pay for wheat from North and South America.

LONDON WOOL SAL £S. CLOSE AT FIRM RA TBS. Received Oct. 27, 8.35 ,p.m. London. Oct. 26. The wool sales closed firm. Yorkshire and France throughout operated frisely, and there has been strong competition on scconnt of the United States. Fully 90 per cefit. of the offerings were sold. All classes of merinos ftteadily appreciated throughout, and closed 10 to 15 per, cent, above the September sales. Fine crossbreds were in keen request, especially for the United States, and closed 15 to 20 per cent, up, medium 10 to 15 peer cent., and low 7% per cent. Slipes and s?oureds were also strongly competed for by home and United States buyers; fine 20 per cent., up, medium 15, low and shabby 10; all lambs 5 to 10 per cent. up. The Bradford market Is quiet and firm: sixty-fours 63d to 62d. sixties 54d to ssd, fifties 26d. i LONDON METAL PRICES. Received Oct. 27, 11 p.m. London. Oct. 26. Copper.—Spot £62 16s 3d; forward £f. fis 9d. Lead.—£27 and £25 Ifts. Spelter.— £37 10s and £36. Tin.—£l77 Ss (Id and £l7B 3s 9d. Silver.—34 11-16 d. CANTERBURY MARKETS. By Telegraph.—Press Association. Christchurch, Last Night. Business is unusually brisk in the produce trade for this time of the year, and Indications are that it will continue so for some White clover, ryegrass and cowgrass are In keen demand, and fowl wheat is selling freely. ■ -Oirfe are 'very firm, Algerians being sought by Australian buyers. There is keen inquiry for bran and pollard on Australian account, but the supply is insufficient to meet all orders. Orders have fallen off for potatoes, and there is no movement from the country. New potatoes are on the market, but high prices preclude a great amount of business being done. The demand for cocksfoot is practically dead,

Oct. 2G. Oct. 23. J'ar. Montreal (dol.) .. 4.43% 4.45 ' 4.866 New York (dol.).. 4.44% 4.45% 4.866 Paris (fr.) 64.97 61.67 25.255 Stockholm (kr.) .. 16.63 16.70 18.159 Christiania (kr.).. 24.85 25.00 18.159 Copenhagen (kr.) 22.13 22.20 18.159 Berlin (.marks) .. 19,650 18,000 20.43 Rome (lire) 115% 107% 25.255 Calcutta Is 3 ll-16d Is 3%d 2s Yokohama. ... 2s 2%d 2s 1 13-16d 2s 0%d Hongkong 2s 6d. 2s 7%d 2s