FOREIGN EXCHANGES

Evening Post, Volume CXXIII, Issue 125, 28 May 1937, Page 12

FOREIGN EXCHANGES

Closing direct rates as quoted by the Bank of New South Wales, Wellington, today for buying and selling foreign currencies, based on New Zealand currency, were as follows:— Buying. Selling. New Zealand ou v S 8. d. £ s. d. London— £N.Z. to £ stg. 1U0 T.T. 124 0 0 124 10 0 \O.D, 123 10 0 124 8 « Australia— ii A to HN.Z. 100 .... T.T. and 0.0. 1U1 0 0 100 10 0 Fiji — £F to £N.Z. 100. T.T. and 0.0. U0 I 0 tTJ 0 0 New York—Dollars to £ N.Z. 1 T.T. 3.9975 8.9U07 O.D. 4.0100 3.9657 Montreal—Dollars to £ N.Z. 1 T.T. 8.111)28 3.U580 O.D. '1.0053 3.9U30 Austria—Schillings to £ N.Z. L T.T. — M.n 0.1). — ■ 20.75 Belcium—Bclgas to £ N.Z. 1 T.T. — 23.382 O.D. — 23.393 CzixlmslovaWa — Crowns to £N.Z. 1 T.T — 11301 O.I). — 113.06 Denmark —Kronei tu £ N Z. I T.T 18.203 17.S»i> O.D. 18.203 17 90H b'rauoe—Krancs to £.YZ 1. * .. T.T. — S8-63 / O.D. — 88.07 Germany—Relcnmarks to £.V.Z. 1 T.T. — 9.814 O.D. — 0.819 Holland—i'lorlns to £ N.Z. I T.T. 7.323 7.1 V3 O.D. 7.383 7.177 Italy—Lire to £N.Z I T.T. - 75.2! O.D. - 75.32 Java—Florins to £N.Z. 1 TT /.305 f.H5 O.D. 7.3113 !.1« Norway—Kroner to £ NZ. 1 T.T. 10.182 T0.SU2 O.D. 1G.242 15.902 Sweden — Kroner to £ NZ 1 T.T 15.785 1S.4D0 O.D 15.845 15.500 Switzerland—Francs to £ N.Z. 1 T.T. 17.344 1..2.4 O.D. 17.049 Ii.2i9 Noumea —Francs to £ N.Z. 1 T.T. - 87.20 O.D. - 87.32 I'aueete —D'rancB to £ N.Z. 1 T.T - 87.4 0 D — 87.47 Uon? Kong—N.Z. pence to 1 dollar T.T. IS o-3t 18 2-32 O.D UHs 18 41-04 '%'er.!:!:..T. Cr. T.t! -. 1M5-32 O.D. - I? 29 « ShanEMat—N.Z. pence to '**v To- T D ; tt&B SiSS 4 'T^IZ'^J.TA 0 S4 23-32 K5.3-64 O.D. S4*i 35 3-ltt Chefoo—N.Z. pence to 1 dollar T.T. 17 S3-32 18 11-32 O.D. 17 43-64 IS 21-64 Manila—N.Z. pencu to 1 „„„„ T.T 29 55-64 30 27-64 ' ' O.D. 29 49-64 30 13-32 The £1 is £1 in New Zealand currency. The rates are subject to alteration without notice. Based on the figures quoted oy me Bank of New South Wales the New Zealand pound, compared with its original par value, is equivalent to approximately 16s Id in London, £1 Os Id in Australia, 16s 3Jd in U.S.A., 16s 3d in Canada, 14s 3Jd in France,, 16s 3Jd in Italy, 9s 7id in Germany, Us 9*.d in Java, ill 8s 13d in Japan.'' TOPS MARKET dUIET (By Telegraph—Hresa Assn.—Copyright-' (Received May 28, 11 a.m. ) LONDON, May 27. Business is quiet on the Bradford tops market and holders are reserved. Recent quotations are:— ' Merinos Apr. May May May May , 29. 6. 13. 20. 27. d. d. d. ' d. d. Seventies ..41 41 41 41 40£ Sixty-fours .. 39 39 39 39 384. Sixties 37* 37>i 37£ 37J 37 Crossbreds. Fifty-eights . 34 34 34 34 .. 33 Fifty-sixes .. 32 32 32 32 314 Fifties 27. 27 27 27 264 Forty-sixes .. *24J "24* *241 '24J. — Forties. ..... *24 T *24 "24 *24 — 'Nominal. BYCROFTS,'LTD., DIVIDEND A net profit of £10,316, a reduction of £483, is shown' in the accounts of Bycroft, Limited, flour millers, Auckland, for the year ended March 31. The directors recommend a final dividend of 4 per cent., making 8 per cent, for the year. The rate is unchanged, but the dividend is paid on a paid-up capital jof £125,000, against £100.000 last year, and requires £10,000, against £8000. The profit was struck after making the usual provision for depreciation, income tax, bad debts, etc. The report states that the period of the accounts covers a complete year of trading as flourmillers under the Wheat and Flour Regulations, 1936, and owing to the altered conditions many readjustments have been necessary. Trading conditions showed evidence of an increasing demand for the company's products, and in some respect offset the difficulties of restriction of hours and other changes affecting the conduct of a manufacturing business^ DOLLAR RAXES. — The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates today, on a New Zealand currency basis. They are subject to alteration without notice: — U.S.A. Canadian Dollars. Dollars. tPer (Per £1 N.Z.) £1 N.Z.) Selling— ; TT 3.96 3-16 3.9513-16 On'demand . 3.9611-16 3.96 5-16 Buying— On demand . 4.01 4.00 9-16 MOUNT MORGAN MINE. The Stock Exchange received at 9 a.m. today the following cablegram:— Production report four weeks ended May 26: Ore mined, 45,304 tons; ore treated, sulphide 24,900 tons, oxidised 18,618 tons; estimated production gold, 4173oz; silver, 844oz; copper, 151 tons.— Mount Morgan. ZINC CORPORATION DIVIDENDS. The directors of the Zinc Corporation cable the Stock Exchange Association of New Zealand that they have declared a participating dividend of 3s 6d per share on both preference and ordinary shares, less English income tax of 3s in the £, making a total participating dividend of 6s per share for the year ended December 31, 1936; also a first, half fixed cumulative dividend of 2s per share on preference shares for the year ended December 31, 1937 (?), less English income tax of 2s lOd in the £• Both dividends will be paid on July .1. 1937, in English currency. ■ ■ ! HUME STEEL DIVIDEND. ; Hume Steel, Limited, will be paying on June 21 a half-yearly dividend on the 74 per cent, preference shares. I AUSTRALIAN PRODUCE. - (By Telegraph—Press Assn. —Uopynirht SYDNEY, May 27. Wheat is steady but dull. Bagged grain is nominally quoted at 5s 5d a bushel, with country wheat at about 4s Bd, which is equal to 5s 3d ex trucks, Sydney. Flour, £13 a ton. Bran, £6 10s. Pollard £7. Potatoes, Tasmanian £5 10s, others £4. Onions, brown £11, white £16. Maize, yellow 6s a bushel, white 5s lOd, N.Z. Oil Concessions, Ltd., has been registered in Christchurch. Capital: ' £12 000 into shares of £1 each. Subscribers: Christchurch—D. S. Thompson L S. Jewell, E. E. Lcwer, C. G. A Sommers. F. W. Stevens, H. A. Martin. Rangiora—J. Marshall; all 100 ■ each. Objects: Every kind of business in relation to boring for oil, mining for gold, and other precious metals and incidental.