FOREIGN EXCHANGE

Dominion, Volume 28, Issue 106, 29 January 1935, Page 12

FOREIGN EXCHANGE

On New Zealand Currency Basis LATEST QUOTATIONS The ’Bank of New South Wales, Wellington, quoted the following rates for their purchases and sales of foreign exchange yesterday: — Buying. Selling

T.T, represents telegraphic transfers. O.D. lepresenis on demand transactions. The above rates are subject to alteration without notice. New Zealand Pound Abroad Based on the tates quoted yesterday by the Bank of New South Wales, £1 New Zealand was worth approximately: 16/1 iu‘ London. £l/0/1 in Australia. 15/10J in U.S.A. 15/101 in Canada. 11/64 in Erance. 9/10} in Italy. 9/5 in Germany. 9/5 in Java. £l/7/11 in Japan. Position of Sterling By Telegraph'.—Press Assn —Copyright. London, January 2(>. The following rates on foreign exchanges were current to-day. compared with those

•(■Sellers, official. •Sellers. sPar, 8.23 31-32 since dollar devaluation on February 1. 1934. Gold and Silver. London, January 2(i. Gold.— £7/1/8 per tine ounce.. 'rhe silver market is firmer, spot price for bar being 1-lGfh higher at 24 11-IGd., two months forward 24 13-l Gd. LONDON MARKETS High Commissioner’s Report The Department ot Agriculture has received the following cablegram, dated January 26, from the High Commissioner for New Zealand, London: Tallow—Market firm with hardening tendency. Hemp—Manila: Market quiet and easier. *‘K” grade for January-March shipment, quoted sellers at £l3/10/-. Sisal : Market quiet and easier. No. 1 grade for February-April shipment, £l4 15/-: April-June shipment sold at £l5 2/6. New Zealand: Market nominal and unchanged. Sulphide Corporation The possibility-'of a repayment of capital was discussed by the chairman, Mr. G. C. Gibbs, at the annual meeting of the Sulphide Corporation. Ltd., in London last month. Mr. Gibbs said that the directors had considered the possibility of an extension of activities at Cockle Creek or elsewhere, but they had so far not been successful In finding anything suitable and that would give a reasonable return on the investment. They had not yet finally decided against extending Cockle Creek, If nothing materialised. they considered that a return of capital should be made to preference shareholders. The fact that a profit was earned at the Central Mine, Broken Hill, last year was due more Io a further reduction in working costs than to an improvement in metal prices The alternative to consuming a large quantity of ore nt a small profit was shutting down the mine at an upkeep cost of £50.000 per annum. They had decided to go on working. Eggs and Egg-pulp The quantity of eggs and egg-pulp tn cold storage as at December 31. 1931. was ns follows: — North South Island. Island. Dornin Eggs in shell (doz.) 111,215 31,130 115,375 Egg-pulp (lbs.) .. 291,101 213,375 501.531) Frozen whites (lbs.) 2,140 1.542 3.082 Egg-yolk (lbs.) ... - 1.320 1,320 The return for the previous collection November 30. 11)34. was as follows:— North South Island. Island. Domln. Eggs in shell (doz.) 51.420 29,741 81,101 Egg-pulp (lbs.) ... 270.324 194,730 105.054 Frozen whites (lbs.) 2,150 1,394 3,544 Egg-yolk (lbs.) ... — 1,100 1,100

France— Francs to £1 59.28 N.Z T.T. (10.58 O.D. 60.88 59.33 X oilmen— Francs to £1 58.5:; N.Z T.T. (11.53 G.D. (11.93 58.58 Papeete— Francs to £1 58.53 N.Z T.T. 61.53 1 O.D. 61.93 58.58 Belgium— Belgas to £1 T.T. 17.328 16.62S O.D. 17.428 16.643 Germany— Reichmnrks 9.634 to £1 N.Z. T.T. .— O.D. — 9.639 Italy— Lire to £1 45.60 N.Z T.T. — OD. — 45.64 Switzerland — Francs to £1 N.Z T T. 12.431 12.031 O.D. 12.506 12.041 Holland— Florins to £1 5.728' N.Z T.T. 5.978 OD. 6.028 5.732 Java— Florins to £1 T.T. 5.931 5.706 O.D. 5.981 5.710 Japan— N.Z. pence 1TI to 1 yfn T.T. — Shanghai— N.Z. pence to 22 15-32 1 dollar T.’l'. 21 5-32 O.D. 21 1-32 22 13-32 India and Ceylon— N.Z. pence . to 1 rupee T.’l'. 222 22 23-32 O.D. 22}* 22 21-32 Hong-Kong— N.Z. pence to 1 dollai T.T. 26.1 27 5-16 O.D. 26 J 27} Singapore— N.Z. pence to 1 dol. T.T. 34 7-16 35 i> O.D. 34 5-16 35 5-16

ruling on January 25:— Jan. 26. Jan. 25. Par. N. York, dol. to £ 4.SG5-S 4.87} 74.86(1 Montreal, (lol. to £ 4.86} 4.88 1.866 Paris, fr. to £ 74 3-8 74 19-3. 124.21 Brussels, bel. to £ 21.10 21.09 35.00 Geneva, fr. to £ 15.20 15.20 Amst’dam, 11. to £ 7.275 7.275 12.107 Milan, lire to .£ 5719-32 57.625 92.4b Berlin, inks, to £ 12.25 12.2.J 20.43 St'liolm, knr. to- £ 19.39.> 19.395 18.159 C’hagen. knr. to £ 22.395 22.31)5 18.158 Oslo. knr. to £ 19.90 19.90 18.159 Vienna, schgs. to .C 26.50* 26.50 34.585 Prague, knr. to £ 117.625 117.(725 164.25 Ilel’fors. inks, to ~ 226.50 226.50 193.23 Madrid, pcs. to £ 36 36 Lisbon, esc. to £ 110.125 110.125 716 Athens, draeh. to £ *517 •517 373 Belgrade, din. to Ai 217 217 270.31 Bucharest, lei to C 4440 490 813.60 Warsaw, zloty to £ — — 13.38 Itio de J., p. to mH. 74} 711 5.899 1*. Aires, p. to peso 1364 v3G A 47.62 M. Video, p. to peso 139 ;>-8 }39 5-8 51 Calcutta, p. to nip. IS .>-32 18 J-S 18 Shanghai, p, to dol. 17 5-8 173-8 — IT.-Kong, p. to dol. 21 9-16 21J — Y’hama, p. to yen 13 63-61 14 21 .;>82 Batavia, 11. to Ai 7.245 < .-oo 12.107