46
HE TIMES, FRIDAY, .ULY 31. 1931
GE
RER
LY
MONEY MARKET
FOUR-AND-A-HALF PER CENT.
CREDITS MORE PLENTIFUL
feat.
NEW YORK STOCK EXCHANGE
|IMPROVEMENT AFTER
DECLINES
AMERICAN PRODUCE City News in Brief
MARKETS
NEW YORK, July 30.-WHEAT. The cash market closed barely steady at 1c. to c. decline. No. 2 red winter, 61tc.; No. 2 amber durum, 571c.; No. 2 hard winter, 601c.; No. 1 Northern Manitoba, 63fc. Canadian bonded futures closed barely steady and tc. to c. lower. July, 681c.; Oct., 591c.; Dec., 61c. MAIZE barely steady at c. decline. No. 2 e. loss. While clipped, 32c., f.c.b. New York. mixed, 70tc., fo.b. New York. OATS easy at RYE barely steady, e, lower. No. 2 Western, 39c., seaboard in bond.
FLOUR was quiet and unaltered.
DAILY CRAIN MOVEMENTY (ThousanHİN)
day This This day last yr. week APASOD
Later whent (bushels) —--|
ཙྩ བྷུཙྩེ ཙྪ, ཉྙི
Same
11
→
་
Laat
18,848
The Queensland National Bank has con- firmed as from August 1 the appointment of Mr. Lionel William Mortimer as London manager.
Mr. W. A. Crowther has joined the board of the Yorkshire Electric Power Company, filling the vacancy caused by the death of Mr. E. R. Benson.
Two coats on the New York Stock Exchange respectively. For the previous sent sold were sold yesterday for $205,000 and $210,000 $235,000 was paid.--Exchange.
At the extraordinary meeting of the London and Lomond Investment Trust held yester- day the resolution lo couvert the shares into Preference and Ordinary stock was unanim ously adopted.
Baring Brothers and Co. are prepared to receive tenders for the amortization on or 90.410 before September 30, 1931, of $722,900 gold (say, £144,580) nominal capital of the Argentine 11,811 Government Five per Cent. Internal Gold Loan, 1909. Tenders, which must be lodged 15.127 not later than 2.30 p.m. on August 18, must
be made at a price under par.
371
Receipts, West'n 3.500 3,858 16,905'
Do., Atlantk. *Exporte, ditto
536 8.198
96,080 16.169
204 1,179 8.715
08 3,400
11.001
47
349
101
465 2.534
234
1,020
2,495 1,061
3
40
211
301
434 12
643 1,832
58
4,995 898 51
7,100
399
Receipts. West'u
Do.. Alantic.. "Exports, ditio Flour (barrel)-
Slipnte.. West'n. Receipts, Atlantic *Exports, ditto Oats (husbels)
Receipts. West'n
Do.. Atlantic.. *Exporta, ditto
The Bank of England yesterday raised rise in its mininuin rate of discount from 3 per
BETHLEHEM DIVIDEND ed by a cent. to 4 per cent. The Money Market NEW YORK, July 30.-Irregularity It-edged on the whole welcomed the movement, characterized the market to-day, but there nt of a regarding the new level as a basis on which was a tendency to cover on recent declines
it could proceed to operate without fear Sales were returned at 1,400,000 shares.
and also support for some leading issues. its took
of a further immediate rise in the official bonds, rate. This sentiment was reflected in the exception of scattered covering of standard The opening was barely steady with the n of the market rate for three months fine bank issues which were hainiered yesterday, notably bills, which settled down to 41-4 5-16 per stee stocks and American Can rtment, of the
It is expected that to-day's bull" support for specialities appeared on Treasury Bills will be allotted at about relatively good earnings prospects, notably in y as on
this level. Business in bills was of course and Chrysler Motors. On the other hand, Maize (bushel
the case of Loews Inc.. American Woollen, ressure restricted, but the market sold a
fow there was
a withdrawal of support in some ok place short-dated maturities, and there were sections and a renewal of professional selling in the case of American Can on reports prices signs of rather more inquiry for bills on
Continental account. Money was in more mills. Otherwise the market ruled quiet and indicating further curtailing at tinplate ich was plentiful supply, 34-31 per cent, bemg the without definite trend until a gradual rally range of the charge for fresh advances appeared on the failure of sectional drives to for the night and old loans being renewed produce further liquidation elsewhere. Railway at 3 per cent. Foreign exchanges re- me Rail-sponded moderately to the higher Bank
rate. The New York rate was finally r touch-higher at $4.86 1-16, while the Dutch rate the day. rose above the London gold export point, onversion closing at 12.05fl., and the French rate Bank rate ely after-
a little shipment of gold from Australia is was also higher at 123.901f. The latest followed understood to be in the form of bar gold, ng a net which will be available in the bullion
in Four market to-day. Funding ro-and-a- lower at Treasury gto 2 points to 2821. Loss (per Cent.)
es from
of the
The Bank rate is 4 per cent., to which it banks' deposit rate is 24 per cent. and the was raised from 3 per cent. on July 30. The deposit rates of the discount houses are per cent. at call and 21 per cent. at notice.
number Day to For short al group.
day periods day's marked 312-334 312
60
he HOME
Mtha
4-4141
in tone, blication Latement,
an many the day
N BONDS,
instances iven per closed at
4 shares, the lower
4-41 Discount Treasury Billa
3 Miths
4 ia
Discount Bank Billa) per Cent.
1 3
months months nonthe 414-4810412-45 1434-5
Fine Trade Bills
Dullness prevailed in the early afternoon, with some pressure against railroad stocks on against International Telephone and Telegraph rumours of impending dividend cuta, and Corporation and the Western Union Telegraph on reports of decreased cable business. This unsettled the market elsewhere, but later prices rallied gradually, the improvement centering in district that operations continue to expand. steel stocks on reports from the Youngstown There was, however, a disposition to await the Bethlehem Steel and New York, Chicago and St. Louis Railroad meetings which restrained the improving tendency, but the close was steady.
EXCHANGE
Method
Parity July 30 July
oľ Quoting
MONTREAL ON!
$
Β
London, cables £1 NEW YORK OD.-
London, sight £1 L'able
4.9623
60 days' sight £1
8
4
mouths months 412-5 434-5
6 months 514-512
Grain hills,sight] £1 Seven days
1
Paris, short sight: 100ft.
Rone, cables 1001. Amsterdam, short
..1008.
dis-Oslo, cables
SWEDISH RATE RAISED
The Swedish Riksbank has raised its count rate from 3 per cent. to 4 per cent.
FOREIGN EXCHANGES
$
$
4.85 4.8412 4.841 3.9134 3.9238 3.92 5.26 5.2314 5.231g
* From New York, Boston, Philadelphia, Baltimore and New Orleans. LARD was
Domestic spot prices.-Prima Western steam, easy and 10c. to 15c. lower. $8.20; middle West, $7.95.
L.M. & S. RAILWAY STATEMENT
NO INTERIM ORDINARY
DIVIDEND
No interim dividend is to be paid on the Ordinary stock of the London Midland and
year, compared with 1 per cent. a year ago, but the usual interim dividends are to be paid on all the Preference stocks. The following statement was issued by the yesterday:--
company
COFFEE-Rio futures opened steady at 1 easier for a time under scattered selling ad- point to 9 points decline, and after ruling Scottish Railway Company for the past half- vanced on "bears" covering, and closed firm 20 to 8 points higher on the day. Sales, 23.000 bugs. Sept., 8.40c., Dec., 5.66c.; Jan, 5.70c.; March, 5.83c.; May, 5.91c.; July, 5,90c. Santos No. 4 futures closed firm and 10 to 15 points up. Sales, 58,000 bags. Sept, 8.18c.; Dec., 8.13c.; March, 8.590.; May. 8.89c. Mild coffee futures closed quiet and 10 to 5 points lower. Sales, nil. Sept., 13.70c.; Dec., 13.85c.; March, 13.70c. Cash coffee easy. Rio No. 7, 5fc. to 5jc.; Santos No. 4, 8tc. to 9c.
4.8623 4.875 4.87516
4.855 4.855
COCOA futures closed steady af. 7 to 3 points 4.8618 4.85116
advance. Sales, 18,000 bags. Sept., 5.07c.; 4-9414 4.8134 4.88515 Dec., 5.31c.; Jan., 5.43c.; March, 5.58c.; May,
570c.; July, 6.90c.
SUGAR futures opened steady, Cuban buying absorbing scattered selling on European account Prices were supported later by a steadier tone on the raw sugar market, aud some covering took place, the close being 1 point to 2 points higher. Sales, 15.000 tons. Sept., 1.42c.; Dec., 1.44c.; Jan., 1.45c.; March, 1.49c.; May, 1.54c.; July, 1.60c.
40.20 26.80 26.80 100kr. 26.80 100kr.
siglit
100kr. Stockholm, cables 100kr. Copeoli'g'a, cables Prague, cheques Berlin, short sight Brussel, cables Berne, cables Madrid, cables.. Vienna, cables.. Belgrade, cables Budapest, cables Athens, cables
100mk. 23.80 100bel. 13.90 1000. 19.30 100ps 19.30 100sch. 14.07 100pe: 17.49 100din. 19.30 100dr.
1 peso
I fall.
Closing Prices
The most important movement in the Five-and- foreign exchanges following the announcement falling of a higher Bank rate was the sharp advance ht's price in the dollar exchange, which closed at ungarian $4.86 1-16, a rise of c. On forward dollars Turanian the premium widened, though nut to so great
1 to 1
an extent as might have been justified by the moved in
present disparity between money rates at the B. Aires RAILWAY two centres. The premium was lic. one: Elo, cables
A. Great mouth and c. three months. Other ex- Central changes also moved in favour of sterling. The French exchange was finally 1c. higher at 123.90+f., the premium on forward francs being 10c. one month aud 24c. three months. There was a sharp advance in the Dutch exchange, which finished at 12.05., rise of tc., while other exchanges to move upward included the Belgian (34.801.), Italian 92.871.), and Swiss (4.901.). Spanish pesetas were cheaper, the Madrid exchange closing at 53.85p., compared with 53.60p. German marks showed little change. Among the South American exchanges the Argentine rate remained at 33id., but the Uruguayan exchange was nominally quoted lower at 221. and the Rio rate was easier at 3 13-32d.
the case
h further
of rubber 1. per lb., mpathy. h fell to
arcs was there a Afternoon.
way
1s. 6d. to
as was
ils of Ud.
The following table gives the range of telegraphic exchange quotations within which business was reported yesterday :-
Place
er (185.), New York
Method
of Par of July 30 Quoting Excha’ge
to £
British Montreal to £
Brick Paris Fr. to £124.21 ¡123.85-123.05.123.85-123.95
Brummels..Fel, to £
. Lire to£
Chemical Switzerland Fr. to £
92 80-12.00
4,9600 | 4.85714-01 4.5665
4.8678-88
English Milan
all falls
148. 3d.),
ed (55s.).
35.00 92.48 25.2218 Athens Dr. to 375 Helsingfors, M. to 193.23 Madrid Pts, to 25.2213 Lisbon Faru. to£
Amsterd❜m Fl. to £
ls-Royce
ng shares and the
-21.02
among
arkers to
e groups
Guinness ce of the ket was
28. to to 50%. ovements
13.107
Berlin M. to 20.43
each. to £ 34.5812 Bulanext. Pan. to £27.82 Prague.. Kc. to E 184.527 Warsaw. Zoty to: 43.88
Iats to £25.2013 a
Bucharest Led to £ 813.6
110 Belgrade.. Din. to £ 5.2215 Kovno .. Lit. to E 48.66 Solla Reval Delo
Lev. to 63.659 ..E.Kr.to £ 18.159
Kr. to £ 18.150
Stockholm Kr. to £ 18.159
24.806-24,92 37434-8754 7454-375-4 19254-198+4 1924-1934 58.50-55.95 53.59-54.00 10912-11012 10912-IID:2 12.04-12.064 12.04-1.051 2014-2024 20.00-21.00
34.50-34.60 34.50-34.65 27.70-28.00†| 27.83-28.007 16354-16414 1633-18414 4314-49-8 4314-4312 25.10-25.40 25.3-5.40
18.15-18.16 18.154-18.16
Copenh'g''Kr. to 13.159 18.1614-1714 18.1814-1714
Alex'drin Pt. to
Const'ole t to
1.29
40.291 40.2812 26.751 26.73 26.77 26.75 26.741 25.73
2.96 2.963 23.50 23.25 13.95
13.96 19.50 19.50 9.04 9.06 14.05 14.06 17.4512 17.45 1.7712 1.77 1.2912 1.2912
Cents C'enta C'ents 42.64
29.63
29.46 32.45 6.95 6.95
RAILWAYS
July 30 July 20, Atchisou 15512 153 Atl. toast 881 88
Do.. Pref. 6478 B. & O... 4912
Bronk 5812
an.P.(w) 253, rut. N.166
th. W. ('hen, & 0.3478
10.. Pref. 2544 Ch. N.W. 2634
'h.M.St.P 5 Ch.Rock Is 37 Del, & Had 1172 Dr, Lack. 5212
20 Do..1st Pf. 28
.N., Pref. 4214 Billbo
441 Interhorn
Cuban centrifugals sugar, 95deg, spot, quoted 3.50c. per lb.
COTTON on the spot closed 5 points higher at 8.50c. Futures market opened easy at 6 to 10 points decline under scattered selling, in- fluenced by favourable crop and weather news and "bearish" statistical situation. This was followed by a rally later, on covering pur- chases and light offerings. A partial setback occurred in the afternoon on the withdrawal Closing Prices
of support and "bearish" private crop esti- July 30 July 20 mates, but the market closed steady at values ranging from unchanged to 3 pouts higher on the day. New Orleans spot middling closed without change in value at 8.36c.; futures finished with a net gain of 3 to 4 points. Norden and Co., also Clement, Curtis and Co., estimato the crop condition at 70.6.
J. E. Bennett and Co. figure it at 71.5.
33 1932
118 Xat. Dairy 3312 3278
638. Amer.
6354 6411 Packard 68 679 Pan. A. Pet. 24 Puh. Ser..
0.40 0.40
During the first half of 1931 the traffic re- ceipts of the company decreased by nearly £3,000,000, or 9 per cent., compared with the corresponding period of 1930. This decrease is mainly due to the unprecedented and world- wide depression of trade which has caused a serious contraction in the heavy trades of the country. The reductions of iron and steel trade traffics have been particularly severe, iron ore having ballen by 45 per cent., and this group of traffles as a whole fell by 30
per cent, while in other trades there were decreases varying from 5 per cent to 35 per cent. The fall in traffic roceipts of 9 per cent. for this half-year, compared with the first half of 1930, must be compared with a fall of $1} per cent, in the index of national production and of 13 per cent. in the volume of exports and imports. The decrease in total employ- ment is about 6 per cent. for the whole country, and it is, of course, considerably worse in the areas mainly served by this sys- tern. Until the conditions causing this depression have been removed no marked im- provement is considered probable, but there has been no indication of any material worsen- ing of traffic volume in the last four months.
For the same general reasons the receipts from other
miscellaneous businesses and sources decreased by £400,000, making the total reduction in gross revenue for the half. year £3,400,000.
SUBSTANTIAL ECONOMIES There have beeu further substantial economies and reductions in working expenses compared with previous years, and these have assisted by reductions in certain been material prices and in rates of salaries and wages payable since March.
For the half-year these reductions in working expenses, after making full provision for renewal of wasting aseets, amount to £2,400,000, but, in order to get a proper com- parison, from this must be deducted the sum of £400,000 in respect of the 21 per cent. deduction from salaries and wages which was operative in the first 19 weeks of 1930, but not in 1931. The saving of £2,400,000 follows on large savings in previous years, and the saving compared with the corresponding half- year of 1927, is £5,000,000.
There is thus a reduction in the net revenue for the half-year of £1,400,000.
It is anticipated that the rate of savings in expenditure, assisted by the fuller effect of the reduction in salaries and wages, will be more than maintained in the remainder of the year.
Today Week Season Laat son Reveipts at ports.. 25,000 35,000 8,925,000 8,707,000 Exports Gt. Btu... 1,000 2,000 1,094,000 1,272,000 Exports Cont., &c. 35,000 61,000 6.847.000 5,570,000 COPPER was quiet with exporters still quot- ing electrolytic spot at 8.25c., and three months forward at 8.30c. per lb. c.i.f. European It is impossible in the present state of trade ports. Domestic spot je down at 7. to make an accurate forecast of net revenue Standard futures closed unchanged. Sept., for the whole year, but, in all the circumstances, 8.50. Dee., 0.65: March, 6.80. Sales, nil Tix the directors have decided to make the usual quiet and points lower for Strants metal, spot interim dividend payments on all Preference and Aug, delivery at 14,200, por lb. baked. stocks. They do not, however, feel justified in Standard futures closed 10 points lower. Sept., considering any question of dividend payment 24.05; Dr., 24.35c.; March, 24.80c. SPELTER
on the Ordinary stock until the accounts for quiet and unaltered. East St. Louis, spot and the whole year are available and a clearer view Aug. delivery 3.871e, per lb. asked. LED of future conditions can be obtained. Spot unchanged at 4.40c. per lb. PIG IRON steady; No. 2 foundry still quoted $18 per ton. on Eastern Pennsylvania marketa.
int. Amer.
7
Kansascity
28
49%
Louisville
65
Min. St. P.
M. Pac..
5812
Pref.
6212
458
6418
25%
N.Mex., Pf.
165
Du., 2 PF,
24
NEW YORK
Cosing range
343,
NY. Cent. 76
75
614
6
Norfolk ..164
1642
Futures
To-day
Prev, day
25
N. Pactic
35
35
2714 Pennsylv'a 45
45
August
8.89 8.32
8.30
8.30
5
Reading 65
65
September
8.48
4.46
8.44
8.44
3634 S.L. & S.F.
157
11712 S. SW.
13
1614
October
8.80
8.50
8.58
8.57
15
November
8.73
8.73
8.70
8.70
54
A. Pacino 77
7712
December
8.84
8.82
8.8
8.80
! Eric
195g
Southern 2714
28
Jamiary
8.94
8,93
8.92
8.91
3112
|Lo.. Pref. 553
56
February
9.08
9.03
9.02
9.02
4212 Linion 155
154 March
15
9.14
9.14
2.14
July 29
45
Io.. Pref. 8414
8414
April
9,22
9.92 9.21
9.21
•
Wabash
Rapid Tr. 2114
2112 Do., PL A. 20
1112 May
9.30
9.30
0.20
9.27
June
0.48 9.43
4.857-11- 4.8854-8714
INDUSTRIALS
Air Refuet · 76
751 Int. Nickel | 1276
1278
24.77-84.9377-34.81
Alliek le p110
11012 Iut. Paper
414
414
03-92.85
Atu. Agr
1a
1. T. & T.
28
2778
1, re 13
Am. and
Poari ...27 An. n. Am. Loco. Am. Rolling
Mill
13 255g
Kennecott
1754
1778
Kresge 8 8.
2614
2618
Kr. & Toll. 1838
1814
94
94ggett&M. 71°
70
1614
1644
Loose Wilm 4612
455%
1.Mack Teks.. 3212
20
1912
Mong W, 2012
Am. Smelt 31
31
Nash - 2638
26
Am.Sug. R. 54
54*
Nat. et 5512
561
Am, Tel...17154 17116
Nat.Cash R 251 25
814-818
814-818
1,025:
1,0251
273-275
273-275
48-49
567-673 18.20-18.28
48-49 657-673 18.20-18.30
18.18-1817 18.16-18.17
Am. Tob. 118 Am. Woole 914 Anaconda 25 244 Armour Pf. 4478 45 AnDyGids 18lz 182 Att Ref 156 15 Baldwin. 12 3214 BarnsdaHA 72 8 Beth. Stee: 354
S.J. 78
24.
77%
Fulinio. 331⁄2
RadioCorp. 17
16
3514
'a'at'o
81
elane 124
13
Ryl. Dutch 26%
2634
all and
071
970-072. 0771407914
Lue Copp.
14
164
Soure ''k 65
181
Shell Trans 1712
1712
Bombay
Per rup
1Md.
1-554-155 1534-151318
Chrysler
24,
231Bhell Ur. -
6
Calcutta Per rup.
Madras..Per rup.
18d. 11.
1 554-1 51518
1:554-35131
Col. Fuel
1412
1412
stoss S. stl. 121a
2812
288 Std. Brands 178
Rand or
1134d.-10.
24.58. 2.0112-15
713d.-103 9/0112-1532
Col. Graph
8
Bl
Stil. Gas 6014
1212
601
Cons. Gas
914
91
Std. Ou ok,
127-1312
4734
'al,
231-16-1510
2018 9:312-31722
2/811;6-13
Cont. Oll
834 12.0812-0942 12.0842-092 Corn Prod. 653⁄4
Crucible 3912 381
812
D, J.. 371,
655%
1, NY. 177
Studebaker 18
391-3312
40.00
Drug. Inc. 722 Du Pont
864
23-241
EastLau K 1372
17.12.2
17.1212 9.85-9.90
Elec. P.& L. 3678
365 T. Cont. C
Elec. Stor
54
53
Nominal.
Fox Films
Gen. Elec.
sten. Food
Demand
30 days' | 60 day. sight sight
95
sight
1512 3978 4814
483 United na 28 fien.Mot 3714 363 C.s. Lither 658 Gillette 21.4 2012 U.S. Rbr. 1318 Goodrich 1244 113 Goodyear 3954 39
3912
Ud. Frult 57
સમ
651
1234
U.8. Steel 650
845
I., Pref. 140
140
2.
W.Uu. Tel. 1132
113
Hud. Mtrs.
SELLING RATES
Cable Transfers
Demand
13 27 40g
51
Sheet. 36
CURB EXCHANGE Ased. Gas 122. 1214 Mid. West) Braz.Tract 184* 18
Whse, Mfg. 617
6218
Woolworth 68
671
Wor. Pump 4212
431
Youngst
3912
tillties 173
1714
d.
Br. Am.Tob
130 7 8
(Bearer) 1776
1814
Penn. Road 534 Silica Gel.
534
109 126
110 0 0
Eler. Bond 3658
2414
South Africa 9,400,000 Rhodicals
09 12 6
99 16 3
99 13 9
3316 4358
..Bucres to £
clared to
Venezuela
Bollvares to £
• Rates ver 100 London pounds, SOUTH AMERICAN EXCHANGES
Latest Prev. Method of Parity sight sight
quoting
rate Tate
24.8825 24.62 24.61 25.25 28.40 228.37
Colombia
108
(Bogota) Pesos to £
5.00
5.04
5.082 Do., 4%
4.87
4.95
4.99 1960-90 94:2
9412
Lungarian Salvador ..Colones to £
9.13
9.99 9.90 ATK 6%.
741a
Greek, 7%
yment to
61
Hamb'g, 8.
1.54-1/5-516 1:554-1:515,6" | Colum. Gas
e feature
Its The rket as a place in
and New
ed to 12s.
Hong-kong Per dol. Kobe Per yen Shanghai Per tel Singapore Per dol. 24 Batavin. Fl. to £ 12.107 Manila Per peso 24.606d. Rio de Jan Per ml. 5.399d.
2:0516 2-812 B. Alrea. Per dol 47.619d. 331-9312 Valp'sot 1 to £ 40
40.00 M'video..rer dol. bid.
22-23: ..Soles to £17.38 Pesos tosi 9.76
5 reacting coved all but the widened Limst
RAL
Mexico
+90 days.
EMPIRE EXCHANGE RATES
BUYING RATER PER £100
IS
ULY 30
1.27-1-87 Cont. Can. | 48
DavisonCh. 11 104 Texas Corp. 223
7112Tex.G. Sul. 33 8412 Tidewater 1561 T. Am, Cp.
55%
Ln.Carbide 49
1514U, Corp. 22
ak, one of
d. L. d. £ B. d. 2 s. d. Hou.OilTx. 3914 385
0139 5 0133 0
Op Australia' 131 10
0133 15 01 New Zealand' 11 2 8111 15 0112 7 6113 0 0 Ind. Bayon 28 Africa and!
Int. Harv'r 5912 Rhodesia 98 15 0 98 3 9 97 12 61 97
1 3 Int. Match
I'ret.
.5312
On :-
stitutions, sheet for
profit is AustraliaTM 3,407,404 New Zealand'..
the de-
sits and
Country
n general that the involved
market, Ecuador
nna, that Nicaragua..Cordoba to £
130 0 0
00 15 0
al of the the sale of £582,172 iD BAR GOLD, the with the bank drawal of 39,000 SOVEREIGNS for export, and dly more the receipt of 98,000 SOVEREIGNS from abroad. assets.
The day's movements, therefore, resulted in a net efflux of £523,172.
From April 39, 1925 (the date of the return
4 3612 Stc. Oil Ind 2414 Gulf Oil.. 57 5414 Swift Int. Hydro Elec 172 1712 Vacuum Oil 4514 Int. Petim 1219 12
BONDS
3534
Libby. Ln.,|
(Fin., 6%:l 312% 10217321021712 1945 80 80 Do., 414% 1032 103832 Fren. 71% Do. (4th),
1941 12438 1243 444% 1042532 104262 Fren., 7%. U.K..512%
1937.108
GE
Net efflux for 1931 to date, £16,732,766; net 1955110 efflux for 1930 (according to the published Bordeaux, movements of gold), £399,851.
6% 341042 104 Brazil 7+%
19521024 1021a
In the bullion market the price of bar gold Canada 5% remained at 84s. 11 d. per oz.
Bul
7%
54
53
OLY 30
to the gold standard), to July 29, 1931, there Erazil 61° was a reduction of £22,432,401 in the gold 1927-57 5312 5414 holding of the Bank.
1949 120 120 Ger., 7%
1949 8414 8414 Ger.. 512%.
1965 5658
5734
1964 9834 9854
foreign Bolivia ......{Bolivianos to £ 13.32 18.4354 13.4654 1959 74
The Bank of England yesterday announced Aust.5%.
1957
511g Aust., 7%
6%, 46 8012 8012 1943106 105 Hungary, Belg. 6%;
712% 44 8154 8134 1955 100% 10134 Ita 7%, Belg., 7%.
1951 $850
99 11014Japan,61%
1954107 107 Nord Bly.
612%, 50 105
1054 Norway6%
1952 10112 102 P.I..M..6%
1958103 103 Do.. 7%
1958 105 105 Poland.7%) 1952-10678 107
1947 Chile, 7%
70 70 1942
Do., 8% Chile, 6%.:
1950 7412
7334 1960 362 38 Rio do Sul, Larch.0%
6%, 46 50% 1951 1072 10814 San P.,8%,
1950 1942.105 10434 Scine, 7:6, Dutch E.I..
1942 1063 10614 Swed.51%
1954 10434 104 512%,53 1011 10114 Toklo City.
512%.61 964
961 The following quotations are supplied by Reuter :-
1 July 30 July 20
eed with ling an
SILVER rose id. to 13 1-16d, per oz. for cash and forward delivery, China sending covering orders.
BANK OF FRANCE
(000's omitted)
Silver and copper Current postal accounts Available at sight abroad
ato Advances on gold coin
Commercial bills discounted Negotiable bills bought abroad Advances on securities Negotiable bonds of the Sink-
13.188 17,369
492 472
6% 621011 10118
Dutch E...
ES
some of gures ago, and
ASSETS
of
Reserve-Guld coin
ingots
and
tner coin
July 24
Frades
57,893,065 X68.757
Den'k.6%. Inc. or Dec.
Francs
1,246,488
548,548
Year
9.473.626
88,431
848,772
68,315
5,854,583
913,287
16,150,531
951,193
10.115
2,737,339
81,876
Atchison, Pref.
5/712
ing fund department
5,082.307 Unchanged
Lehigh Valley
Loss to the State without.
67/6
Interest
Various acts..
3.200.000 Unchanged 2,092,177
364,541
£45718"
LIABILITIES
Notes in circulation
77,766,227
187.458
£13434*
Treasury current accounts
1,825,780
160,431
Sinking fund current accounts:
8,012,415
7.150.
Current and depoelt account
14,251,062
2012d.
Other sight liabilities..
369,426
10,051 1,727,700 40,034
Various Habilities
1.708,161
6.956
£1914
Total liabilities
.. 10%,223,880
--
+ 1,849,697 Proportion of gold reserve to eight liabilities, 56-63 per 5141. cent. (against 56-62 per cent.).—Rouler.
£3554
ing their!
Missouri, Kansas and Texas
New York, Ontario and Westera National Lead..
* Ex dividend.
51
51
51
10512 1044
40
45
13lg 13
1132
112
1C234
10234
RUBBER Smoked sheet sellers were un- changed. Spot and July, 5tc.; Sept-Dec 6c. | postb.
Fet tabex diepe sellers were un- changed. Spot and July, etc., Sept.-Dec., 61c. per lb. New York Rubber Exchange (No. 1 standard) futures closed 12 to 9 points down. Sept., 5.700.; Dec., 5.95c.; Jan., 6.02c.; March, B. 18c.: May, 6.32. Sales, 67 contracts.
COTTON OIL closed barely steady. Crude in South-east nominal: bleachable. spot. 6.80c bid. Futures closed 5 to 8 points lower. Sept., 6.71c.; Oct., 6.10c.; Dec., 5.97c.; Jan., 8.00c.
TALLOW was quiet. Extra, loose, 3c.; extra, in tierces, 31c. per lb., f.o.b. New York, PETROLEUM.--Pennsylvania crude standard grades were again quoted $1.40 to $1.55 per barrel.
TURPENTINE was steady and unchanged at
381c. to 37‡e.
JACKSONVILLE, July 30-TURPENTINE was steady at 31tc. to 31 c.
SAVANNAH, July 30.-TURPENTINE Was firm and unaltered at 311c. bid. Rosin, grade F, $2.87; grade K, $2.971; grade WW, $5.70. DULUTH, July 30.--LINSEED futures closed easy and 2 c. lower for Sept. Bept, 161c.: Oct, 161 c.
KANSAS CITY, July 30.-WHEAT futures closed barely steady c. to lc. down. July,
42 c.; Sept, 431c.
MINNEAPOLIS, July 30-WHEAT futures closed barely steady, Ic, up to lc. down. July, 55 c.; Sept., 54c.
cable
WINNIPEG, July 30.-WHEAT opened barely steady with prices c. lower on com- mission honses selling and "bearish advices. A rally followed on crop damage reports, which led to "bear" covering, while country offerings were light. Later a reaction set in on realizing, and the final tone was barely steady with prices c. to lc. lower on the day. July, 54tc. Oct., 55c.; Dec., 57c. OATS closed barely steady with prices 1c. lower for current month and te, down to unchanged for other positions. July, 28tc., Oct., 19fc.; Dec., 294c. BARLEY futures barely steady at je. to c. docline. July, 31fc.; Oct., 32fc. LINSEED futures closed easy and 1c, lower for Oct. Oct. 1.20 c.; Dec., 1.214c.
NATIONAL SHIPBUILDERS
SECURITY
The directors of National Shipbuilders Security, in issuing the balance-sheet as at March 31, 1931, state that since the company, is not trading for profit no profit and loss account is being issued. During the period the following yaids have been purchased :--- and Miller, Old Kilpatrick the South Yard William Beardmore and Co., Dalmuir; Napler
of the Ardrossan Dockyard Company, Ardros san-this company retaining the right to build vessels up to 275ft. in length in its North addition to the foregoing the company is now Yard--and John Chambers, of Lowestoft, In making satisfactory progress. The deeds of covenant only became operative as from No sum has therefore been November, 1930. received from that source for incorporation in the present accounts
U.S. FEDERAL RESERVE STATEMENT
the weekly statement of the United States The following were the principal items of Federal Reserve banks, with increases or decreases compared with the previous week (in thousands of dollars) :---
July 29 Inc, or Dea
RESOURCES Total gold reserves Reserves other than gold Total bill discounterl Bills bought in open market Total bills on hand
Total V.8. Govt. securities Total bills and securities Total resources
LIABILITIES Federal Reserve notes in actua!
circulation Member bark deposita, reserve
account.. Government deposite Total deposlis
Total ikabilities..
Ratio of total reserves to net! deposit and Fedemi Hote liabilities combined
Abitibi
3,443,550
+
19,200
176,010
1.410
198.040
1,440
66,540
400
249.570
030
677,980
20
034,800
900
6,151,810
9.330
1,733,500 F 4.750
2.414,730-
17,070
13.390
4.600
2,554,600 5,131,810
19,520
9,330
84.3 no change
MONTREAL STOCK
EXCHANGE
REUTER'S QUOTATIONS ¡July30|July 20
CHICAGO, July 30.-WHEAT opened easier, with prices lower owing to scattered hedging, but a steadier tone soon appeared, due to the absence of moisture in the North-West and crop complaints from the American North. West, as well as Canada. Later easiness returned, as foreign demand was slow, and there were reports of increased Russian ship- ments. In the afternoon professional selling and the absence of export inquiries, as well as hedging pressure, offset the effect of con tinued unfavourable crop reports in the North- Wost, and the close was barely steady, with prices e. to je. lower on the day.
Bell Tele. of July, 511e. Sept., 50kc.: Dec., 54. MAIZE closed Braz. Tract.
138 barely steady, with prices fc. highar to ic. B. Powr..A lower. July, 68ic.; Sept., 50jc.; Dec., 44e. Do.." B OATS closed barely steady, with declines of c. Brit.
Emp Steel to je. July, 227c. Sept., 231c.; Dec., 251c.
No bid No bid RY futures closed barely steady at c. to jc.
Do, 1st Pl. No bid No bid decline. July, 331c. Sept., 35c.; Dec., 39c.
To,, End Pf. No bid No bid Building Pro- PROVISIONS closed easy with lard 12 to
21 ducts, "A"
et 5 points lower and pork 5 points lower to un- Calgary Pwr. 143 143 changed. Cash lard declined 10 points to 7.70. Lard. Sept, 7.70c.; Oct. 7.67 c.; Dec., 6.85c. Pork (drysalted clear bellies).July, 7.750.; Aug., 7.75c.; Sept., 7.90c.
BACON barely steady at 13 points decline. Hous steady. Light descriptions were 10 points higher to unchanged and heavy sorts unchanged to 5 points up. Receipts at 15 principal Western centres, including Chicago, since March 1, total 9,851,000, against 11,050,000 for a similar period last year.
Bacon, fat
Hogs backs, 12-141. Light Heavy
9.124 a 800 to 8.35 5.00 to 6.80 9.25
7.90 to 8.35 5.90 to 6.75 9.5
8.35 to 8.90 C'DICARO 15,000 14.000 +20,000
To-day Previous day
Call money continued to rule at 1 per cent, and commercial paper at 11 per cent, for prime names. Open market discount rates were unchanged at 1 per cent. to per cent. Last year for 90-day bank bills, and 1 to 11 per cent. for six months bills.
Recella-
To-day Sterling exchange was decidedly firmer, Previous day Other foreign bank returns will be cable transfers closing 7-18c. higher at 4.881. Last year found on page 20.
be! MONEY RATES AT HOME may rmanent
AND ABROAD large-
ducers- etion de.
bes. Sir
Union London
Paris
..
cessions, New York
able to
Berlin Could be swiss Bank places now that Milan
Amsterdam Bruse'
leted.
Bank rate
Market discount Call
rate
Money
Per cent.
414
112
Per cent, Per cent.
414-4518
31-33
1-78
142
116
1
112
-
9.40 to 9.65
Western
63,000
84.000 78,000
Silver rose tc. to 28c. for foreign bullion. Brokers' loans in the past week showed a FORD MOTOR OPERATIONS further decrease of $26,000,000 -- to $1,390,000,000, against $1,410,000,000 in the previous week and $3,228,000,000 in the corre sponding week last year.
NEW YORK, July 30.-Officials of the Ford Motor Company in Detroit announce that the company is suspending manufacturing The Bethelem Steel Corporation announces August 1 and is not reopening for a month. a quarterly dividend of 500. on the cominon Operations will, however, be continued in the stock, compared with $1.00 previously. The assembly line at Detroit and in 11 of the 36 New York, Chicago and St. Louis Railroad has assembly branches in the country.
This was omitted the quarterly dividends on both the foreshadowed in advices from Detroit yester. preferred and common stock.
day, Reuter.
The Standard Oil Company of New York and the Vacuum Oil Company stockholders have ratifled the merger between the two
concerns.
The Barnsdall Corporation have omitted the Claes "A" quarterly dividend.
L.C.C. tramway receipts last week were £78,038, against £80,297 a year ago. From April 1 the total is £1,385,686, against £1,425,618.
C
can. Dar
معه
4
July 80 July29
414 Cons. Mining 231: 9373 Dom. Bridge 3112 9154
13814
Doni. Cil
J12
1814
Dom. Textiles
3.542
355
10
10
98 98
6512 0512
Fan. Players No bid No hid
Fraser Cos
114
314
Hollinger..
6
Int. Nickel..
127 1241
Massey, H... Montreal Lt. Nath Brew...
431 48
44 4414
2013
2012
Nat. Steel Car 18
181
Ogilvie Fintr
190 190
11
JE
Power Corp.
43
43
D., Pref... C'. Cenient
1812
1812 Pries Bros.
31 31
201
10
Quebec PT.
33 212
D., Pref.
84
No bid St. Law'ce C.
114
Indus
AN
Shawinigan..
4112
vohol. A Do., B
24 214
S.Chanda Pwr.
30
30
2
112 Steel C.ofan.
273
275
Can-Pac. Rly. C. Power C. Steamship
Do., Pref. Cockshutt
25
25
Wpeg Elec.
71 11a
12
12
Bk. Montreal 260 260
312
Dk. N. Scotis 312
312
72
Can. Bl.Com.
5
Royal Banks
204 2441221312
205
• Ex dividend.
401z
ARGENTINE GRAIN OPTIONS
BUENOS AIRES, July 30.-WHEAT closed steady and 4c. to 5c. lower. MAIZE steady at 2c. to 5c. decline. OATS steady and without change. LINSEED closed quiet at 8c. to 9c. decline.
OFFICIAL CALL PRICES, 4 P.M. To-day Prev. close Buenos Aires:-
Whent, August delivery
5.15
"
September delivery October delivery
5.26
5.10 5.30
5.56
5.41
Maize, August delivery
3.76
8.78
1
September delivery
3.85
3.88
October delivery
3.92
3.07
Osta,
August delivery
4.15
4.15
Linseed, August delivery
11.90
11.98
+
September dellvers
12.13
12.2
October delivery
12.30
1.38
Rosario:--
Wheat, No. 2. August delivery
5.25
5.5
Maize, August delivery
3.65
3.70
Linseed, August delivery
13.05
12.06
(Prices in pesos currency per 100 kilos, delivery Bueno Aires.) (Peso-about 12. 25 d.)
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