BANK OF NEW SOUTH WALES.

Press, Volume LXIII, Issue 19177, 7 December 1927, Page 12

BANK OF NEW SOUTH WALES.

The report of the Bank o£ New South Wales for the year ended September 30th shows the effect of the absorption of the Western Australian Bank. The profits, at £1,226,247, are £126,688 above the profits of the previous year. The deposits amount to £01,554,635, as compared with £58,587,507 in the past year, an increase of £2,967,000, largely as the result of the addition of the deposits of the Western Australian Bank. Advances amounted to £53,408,833, an increase of £5,391,690. The regular dividend of 10 per cent, absorbs £701.211, as against £600,000 in 1926; the bonus of 2J per cent, takes £18">,506, apainst £150.000; the addition to the reserve is £340,760, against £350,000; and the amount carried forward is £170,616, against £130,314 brought in. The capita! of the bank now amounts to £7,423,440, the reserve fund is £5,309,240, coin, legal tender notes, and cash at bankers total £14.279,788, against £13,303,269; money ;>.t short call in London amounts to £1,200,000, against £360,000 a year ago; short-dated British Treasury billß stand at £500,000, against £770,000; British and Colonial Government securities at £7.205,567, against £8,496,231; municipal and other securities at £464,220, against £488,000; bills receivable in London and remittances in transit, £5,635,591, against £5,206,674; bills discounted, loans and advances £53,408,888, against £48.017,147. The aggregate of the balance-sheet, excluding contingent liabilities, is £84,700,516, compared with £79,078,890 a year ago. FOREIGN EXCHANGE RATES. (BT CAB'.E- rSBSS ASSOCUTIOS— COPTItIGHT.) (ACSTBALtAS AND K.l. CABLS ASSOCIATION.)

LONDON, December 5. The exchange rates on London are as follows:

Par. Deo. 1. Dec. 5. Paris, ir. to £1 .. 12.22J 124 124 Brussels, belgas to £1 5 34.90 34.59 Oslo, kr. to £1 .. 18.159 18.35 18.34 Copenhagen. l:r. to £1 18.159 18.20 18.20 Stockholm, kr. to £1 15.159 18.06 18.0S Amsterdam, fl. .. 12.107 12.072 12.07J Berlin, Keichmarken

to fl .. .. - 20.42 20.42 Montreal, dol. to £1 4.861 4-87 9-16 4.88* Now York, dol to £1 4.662 4.87 15-16 4.88 3-16 Yokohama, st. to yen 24.5 t*-2£ 221 Rome, lire to fl .. 25.22J 90 90 Calcutta, st to rpc. 15 to gold £ IS 18 1-16 Hong-Kong, st. to dol. * 24 9-16 24J Batavia

Prague, kroner to £1 * Governed by price of silver.

LONDON WOOL SALES

(BT CABLE—rnsos ASSOCIATION—COPTRIGHT.) (AUSTRALIAN A.VO S.Z CABLX ASBOCIATIOH.) LONDON, December 5.

At the woo! sales 9828 hales v.-ere offered, of which 0382 bales were Australian and 3314 bales New Zealand. There was an excellent selection of merinos, almost exclusively suitable for the Continent, and a good selection of medium slipes. There was only an average lot of greasy crossbreds, principally fine. The market was very firm. There was strong Continental competition for all descriptions. New Zealand prices realised the following: —Sfana (525 d top), 29Jd avcrnge; H. F. C. Diamond (40), 38d. BRADFORD MARKET. .AUSTRALIA!! AX» NZ CABLB ASSOCIATION.) LONDON, December 5. At Bradford business is marking time. Spinners and topmakers cannot make the prices corresponding with the wool basis. P. AND O. COMPANY.

(AUSTRALIAN AND SI.S. CAB LB ASSOCIATION.) LONDON, December 5. The Peninsular and Orient Company's report shows a credit balance cf £918,000, allocates to the roeerve for redemption of debentures £288,422, and carries forward £118,326. [Last year £274,687 was transferred to the redemption reserve and £183,136 carried foxward.] RUBBER STOCKS. LONDON, December 5. Rubber stocks total 65,869 tony. WHEAT. (AUSTRALIAN AND N.Z. AHD SUN CABItEJ ("Received December 6th, 7.25 p.m.) LONDON, December 5. Wheat—Cargoes are inactive, and prices are unchanged. Parcels are quiet. Liverpool futures are quoted as follows:—December 10s 4fd per cental, March 10s 3Jd, May 10s 3id. METALS. (Received December 6th, 7.25 p.m.) LONDON, December 6. Copper—Standard spot, £6O 8s lid; forward, £6O 13s ljd, Electrolytic—Spot, £65 15s; forward, £66 ss. Wire Bars—£66 6s. Lead—Spot, £22 17s 6d; forward, £23 3s 9d. Spelter—Spot, £27; forward, £26 13s 9d., Tin—Spot, £269 2s 6d; forward, £265 10s. Silver—Standard, 26 10-16 d; fine, 29 l-16d per 07. WHEAT. NEW TORE, December 6. Chicago wheat quotations are: December, 128J cents a bushel; March, 132j cents; May, 133J cents. LONDON MARKETS, The Bank of New South Wales has received the following cablegram from its London office, dated 2nd instant:— Wool—Market strong, with keen demand. Mutton—Wethers: 4Jd to 6Jd; steady. Ewes: 4d to 4|d; better enquiry, outlook brighter. Lambs: 8d to 9£d; firm, little business. Beef—3d to 4gd; little better demand. Pork—7l d to 81d. Butter—l66s to 1725; bettor demand. Cheese—White: 98s to 100s; very slow. Coloured: 96s to 98s; very slow. TALLOW. / Dalgety and Company, Ltd., have received the following cablegram from their London office, dated December sth: — s "Tallow—Owing to lack of demand, there will be no public sale this week." TARANAKI OILFIELDS. j (MUSS ASSOCIATION TELIOBAU.) GISBORNE, December 6. Waiapu No. 2 Well —Depth 2695 ft in hard shale; BJin casing to 2675 ft. Gisborne No. 1 Well—Depth 1560 ft in sandy shale; B}in diameter casing to 1545 ft. Gisborne No. 2 Well—Road completed, and now levelling site. BLACKWATER MINES. (HSSS ASSOCIATION TXLSOBAX.) REEFTON, December 6. Blackwater Mires, Ltd., supply the following return for November, 1927: —Crushed 3856 tons yielding 1389 fine ot valued at £5899; working expenses £5091. The roaster also treated 56 tons for a return of 60 fine 01 valued at £256. The working expenses were £l2l, working profit £943, capital expenditure £24, development expenditure £sll, profit over all £4OB. EXPORT OF EGGS FROM AUSTRALIA. Mr J. B. Mcrrett, general manager of the Australian Egg and Export Co-operative Association, reports an excellent season. Out of the thirty odd thousand cases shipped, no fewer than 17,789 cases, or 60 per oent. of the whole of the eggs shipped from the Commonwealth, were sent through the Association.

The total eggs exported numbered 6,404,W0, and represented • about 1200 tons. The amount paid out to producers waa over £35,000, while shipping freights cost over £6OOO. Returns from' London this season will Bhow an average of about 2s per dozen, and are tt* highoti ever obtained from Australia.