COMMERCIAL

Otago Witness, Issue 4028, 26 May 1931, Page 18

COMMERCIAL

LONDON STOCK EXCHANGE. LONDON. May 21. The following are the latest quotations tor Government securities compared with the prices ruling last week:—

BANK OF ENGLAND RETURN. LONDON, May 21. The following is the Bank of England return: — ISSUE DEPARTMENT. Note issue in circulation .. £351,540,860 Banking department 58,632,520 £410,173,380 Government debt. .. £11,015,109 Other Government securities 231,120,545 Other securities 13,774,948 Silver coin 4,089,407 Gold coin and bullion .. .. 150,173,380 £410,173,380 BANKING DEPARTMENT. Proprietors’ capital £14,553.000 Rest 3,206,591 Public deposits 14,966,095 Other deposits (bankers) .. 56,633,516 Other accounts 34,025.853 Seven-day and other bills .. 5,350 £123,390,405 Government securities .. .. £31,879,684 Discounts and advances .... 5,956,300 Other' securities 25,889,595 Notes in reserve 58,632,520 Gold and silver coin 1,032,306 £123,390,405

The proportion of reserve to liabilities is 56.40 per cent. Short loans are quoted at 13 per cent.; three months’ bills at 2 3-32 per cent. LONDON STOCK EXCHANGE LONDON, May 19. Dalgety and Co.’s shares. £5 6s 3d (ex dividend); 4 per cent. Debenture Stock, £65. INDIAN LOAN LONDON, May 19. The Indian loan of £10.000,000, 6 per cent., par, redeemable 1933-34, has been underwritten. THE PRICE OF GOLD LONDON, May 19. ; Fine gold is quoted at £4 4s 9Jd per . ounce. > LOAN AND MERCANTILE AGENCY t LONDON, May 21. s The New Zealand Loan and Mercantile Agency has deferred consideration of

further dividends on the preference and ordinary stocks until the final reaults of the year are ascertained. PRICE OF SILVER RUGBY, May 21. Silver: Spot, 12 13-16 d; forward, 12Jd. BEET SUGAR 1 LONDON, May 21. Beet sugar: June, 6s 13d. COTTON, RUBBER, ETC. LONDON, May 23. Friday’s closing prices are as follow: — Cotton: June delivery, 4.96 d. Rubber: Para, per lb; plantation smoked, 3 3-16 d. Jute: May-June delivery, £l6 6s 3d per ton. Hemp: None offering. Copra: June delivery, South Sea, £l2 per ton; plantation, Rabaul, £l2 2s 6d. Linseed oil, £l6 per ton. Turpentine, 43s per cwt. TIN PRODUCTION THE HAGUE. May 17. The tin production conference decided to advise a further reduction of at least 20,000 tons per annum. LONDON FRUIT MARKET LONDON, May 20. The Maimoa’s and Tainui’s apples realised: —Delicious and London Pippins, 10s 6d to 12s; Jonathans, Us to 13s; Stunners, Us 6d to 13s; Dunns, 10s 6d to 12s 6d. The secretary of the Otago Provincial Fruitgrowers’ Council advises that the High Commissioner’s cabled report for week ended May 16, on the London fruit market, is as follows: — Tekoa fruit has just landed in good condition. Fair trade in Jonathans at 11s to 13s; Delicious, Us to 12s 6d; Scarlet Nonpareil, 12s to 13s; London Pippin, 10s to 12s. Rangitata pears practically cleared at about last prices. BRADFORD MARKET LONDON, May 21. Bradford market stagnant. No new business is passing. Quotations: Seventies, 25id; sixty-fours, 23jd: sixties, 22d; fifty-sixes, 15d; fifties, 12d; forty-sixes, lOd; forties, lOd. THE HIDE MARKET LONDON, May 23. Meat works, dry salted, Queensland, 351 b to 451 b, 5Jd; 301 b to 401 b, 251 b to 351 b, and 201 b to 301 b, sd; New South Wales, s§d. sjd, 5Ad; 5Jd, respectively. Wet salted Queensland, 501 b to 601 b, 43d; 401 b to 501 b, 4d; New South Wales, 4ja and 4§d respectively; Victorian abattoirs, 4gd, 4Jd respectively. RABBIT SKIN SALES LONDON, May 21. At the rabbit skin sales 1371 bales were offered and 521 were sold at late rates to 10 per cent, decline. Furriers’ sorts were neglected. There was a moderate demand for hatters. LONDON WOOL MARKET LONDON, May 23 The wool situation is little changed, but the firmness displayed at the close of the London sales induced Yorkshire topmakers to adopt a firm attitude. The market for tops is inactive, and prices are unchanged. The strike of the textile workers brought nearly all the mills in the north of France to a standstill, consequently there is an absence of transactions from that quarter, and there is not much demand from Germany at present. The sales of tops last week were below normal, and the prices for yarns have fallen Jd ' to Id per pound. Particulars regarding old contracts are coming in very slowly. ! The futures markets are unchanged.

FROZEN AND CHILLED MEAT LONDON, May 23. New Zealand Sheep.—Canterbury and South Island selected crossbred wethers and maiden ewes —481 b to 561 b 4|d, 571 b to 641 b 4gd, 651 b to 721 b 4Jd: North Island ditto—4Blb to 561 b 4Jd, 571 b to 641 b 43d, 651 b to 721 b 4d. Ewes under 481 b, 4d; 481 b to 641 b, 3gd; 651 b to 721 b, 33d. Australian Sheep.—First quality crossbred and/or merino wethers, 401 b to 651 b, 3§d; second quality, 301 b to 551 b, 3gd. Ewes, 301 b to 551 b, 3Jd. Argentine Sheep.—First quality crossbred wethers—4Blb to 641 b 4Jd. 651 b to 721 b 3id. Patagonian Sheep.—Wethers and/or maiden ewes, under 501 b, 4d; 50)b to 601 b. 3Jd; ewes, 401 b to 501 b, 3£d. New Zealand Lambs.—Canterbury— 361 b and under 74d, 371 b to 421 b 7§d; second quality, average 301 b, 63d; other South Island brands, 361 b and under, 7§d; selected North Island brands, including Downs, 361 b and under, 7«d; second quality, average 301 b, 63d; other North Island brands, first quality—36lb and under 7d, 371 b to 421 b 7d; second quality, average 301 b, 6Jd. Australian Lambs.—Victorian, first quality—36lb and under 53d, 371 b to 421 b 53d; other States, first quality—36lb and under sjd, 371 b to 421 b 53d; Victorian, second quality, 361 b and under, s§d; other States, second quality, 361 b and under, sgd; all States, third quality, 361 b and under, s|d. Argentine Lambs.—First quality—36lb and under 5Jd, 371 b to 421 b 5Jd, 431 L 4o 501 b 53d.

Patagonian Lambs.—First quality—36lb and under 53d, 371 b to 421 b 53d; second quality, average 301 b, sjjd. Argentine Chilled Beef.—Ox fores, 1601 b to 2201 b, 2Jd; ox hinds, 1601 b to 2201 b, 6Jd; others unchanged. Messrs Dalgety and Co., Ltd., have received the following cablegram from their head office, London, dated May 21: — Lamb.—The market for New Zealand lamb is firm, and the demand is better. Quotations: —New Zealand prime Canterbury lamb, 281b-361b, 7§d; New Zealand prime North Island lamb, 28ib-361b, 7d; New Zealand prime Canterbury lamb, 361b-421b, 73d: New Zealand prime North Island lamb, 36!b-421b, 6Jd; New Zealand prime Canterbury lamb, second quality. 6d; New Zealand prime North Island lamb, second quality, s|d; New Zealand prime Canterbury lamb, 421b-50lb, 7Jd; New Zealand prime North Island lamb, 421b-501b, 63d. Southdown lamb is selling at 3d premium. Mutton. —The market for New Zealand mutton is very firm, and tending upwards. The demand is active. Quotations:—New Zealand prime Canterbury mutton, 481b-56ib, 44d; New Zealand prime North Island, 481b-561b, 43d; New Zealand prime Canterbury mutton. 561b--641b, 43d; New Zealand prime North Island mutton, 561b-641b, 4£d; New Zealand prime Canterbury mutton, 641b-721b, 4d; New Zealand prime North Island mutton, 641b-721b, 33d; New Zealand prime Canterbury ewes, 481b-641b, 34d; New Zealand prime North Island ewes, 481b-641b, 3gd. Beef. —The market for New Zealand beef is unchanged, and the demand is poor. Quotations: —New Zeeland prime ox beef hinds, 33d; fores, 2d; Argentine chilled hinds, 53d; fores. 23d. Pork.—The market for New Zealand pork is dull, and the demand is poor. Quotations: —English porkers. 801b-1001b, 9d; New Zealand porkers—Bolb-1001b 5Ad, 1001b-120ib sd. Australian Lamb.—The market for Australian lamb is firm, and the demand is moderate. Quotations:—G.A.Q. Australian lamb—2Blb-361b 53d, 361b-421b sd; F.A.Q. Australian lamb. 281b-361b, 4Jd; third Australian lamb, 4Ad. Australian Mutton.—The market for Australian mutton is firmer, and the demand is better. Quotations: —G.A.Q. Australian mutton —401b-601b 34d, 301b--551b 33d. Australian ewes not quoted.

WHEAT PRICES LONDON, May 21. Wheat: Cargoes are steadier, with sellers asking 3d more. Parcels are in moderate request, occasionally 3d advance. Futures: London, 20s sd; Liverpool—May 4s 53d, July 4s sfd, October 4s 6§d, December 4s 7§d. The spot trade is quiet, with an easier tendency. Flour is dull. Australian, 19s to 19s sd. Oats are weaker. Peas and beans are slow. NEW YORK, May 21. Chicago wheat: May, 86 cents per bushel; July, 59J; September, 593; December, 62 3.

DAIRY PRODUCE LONDON, May 21. Butter: There is a good demand. Danish, 120 s and 1225; choicest salted and unsalted New Zealand, 112 s and 113 s; exceptional, 114 s; Australia, 109 s and 110 s; Siberian, 102 s. Cheese: Firm. New Zealand white 525, coloured 545; Australian white 50s, coloured 535. OTTAWA, May 19. The Dominion Bureau of Statistics announces that the total butter importations in February and March were 2,142,0001 b —New Zealand 286,4401 b and Australian 1,683,4161 b. Messrs Dalgety and Co., Ltd., advise having received the following cablegram from their head office, London, dated May 22:— Prices for butter are Is per cwt higher, and prices for cheese are Is pcr cwt higher. The National Mortgage' and Agency Company, Ltd., is in receipt of the following cablegram from London:— Butter: Market firm. New Zealand finest, U2s to U3s; New Zealand unsalted, U4s; New Zealand first grade, UOs to Ills; Danish, 120 s; Australian, 108 s to UOs. Cheese; Market firm. New Zealand white, 50s to 525; New Zealand coloured, 53s to 545; Canadian, c.i.f., 49s to 50s. The South Island Dairy Association. Ltd., has received the following market report from the New Zealand Produce Association, Ltd., London: — Butter: Firm, 110 s to 112 s; Danish, 120 s to 121 s; Siberian, 99s to 104 s. Cheese: Firm. White 50s to 525, coloured 53s to 555.

Amalgamated Dairies, Ltd., reports a? follows: — Butter: Spot stocks practically cleared; finest nominally 112 s; expect prices improve after week-end, when further steamers available. Danish, UOs, f.o.b. Cheese: Firm. White, 51s to 525; coloured, 54s to 555. The following cablegram has been received by Messrs A. S. Paterson and Co., Ltd., from London, dated May 21:—Butter: Market firmer owing to late season, and small arrival from Ireland and the Baltic; Danish, 121 s; New Zealand, 110 s to 112 s; Australian, 108 s to UOs. Cheese: Market firmer owing to increased demand due to retail price 6d per lb; white, 51s, 525; coloured, 535, 545. Messrs Dalgety and Co.. Ltd., have received the following cablegram from London: —The market for butter is firm, and the cheese market is firm. Quotations:— Danish butter, 120 s to 121 s; New Zealand finest butter, 110 s to 112 s; Australian finest unsalted butter, 108 s to UOs; Australian finest salted butter. 107$ to 109 s; Australian G.A.Q., 102 s to 104 s; Australian cheese not quoted; New Zealand cheese —white 50s to 51s, coloured 52s to 545; Canadian cheese—;white 68$ to 745, coloured 70s to 765, ci.f. 49s to 50s. I The New Zealand Loan and Mercantile Agency Company, Ltd., has received the

following cablegram from its London house under date May 20: — Blitter.—New Zealand choicest salted, 110 s to !J2s. Market is firm. Cheese, white, 50s to 51s; coloured, 53s to 545. Market is steady. CANADIAN CONVERSION LOAN OTTAWA, May 19. While no official statement has been made, it is estimated that the 250.000,000dollar conversion loan has been subscribed nearly twice over. NEW YORK COTTON EXCHANGE NEW YORK, May 17. Following opening ceremonies associates of the New Aoi k Cotton Exchange to-day opened a new commodity market to deal exclusively in wool tops and futures trading, which at first will be confined to deliveries between September and April inclusive, and will be based on contracts for future delivery of 50001 b of American fine tops of C 4 merino oil-combed wool equal to the standard set by the exchange. Tops over 10 per cent, superior to that standard mav be delivered, but the maximum premium of such superior tops will be 10 per eent. No tops inferior to the standard by over 8 per cent, can be tendered or certificated. The exchange has two classes of membership, zA comprising the members of the Cotton Exchange and B a total of ]5O members; of whom many will be foreign wool-traders executing trade through members of the first group. CALL MONEY RATE NEW YORK. May 21. Call money rate of renewal was 1A per cent, all day. WALL STREET MARKET NEW YORK, May 18. All previous support disappeared on the current bear market. Values melted away steadily throughout the day under the downward leadership. United States Steels and nearly all important shares dropped to new low levels. Much pressure was exerted on the railways list virtually every such issue on the board touching seven, the year's low point. Industrials suffered likewise, though not quite so consistently. United States Steel common closed 99 off 2§, the first drop below par since 1924. Auburn Motors closed 196 off 6, American Can 97 off 3J, American Telephone and Telegraph 169| off 84, New York Central 82} off 4}, Pennsylvania, 45 off 2. Australian bonds weakened somewhat. The latest survey, issued by the Guaranty Trust Company of New York, eays: — “ Reports so far available for April indicate that the customary spring recession is under way, but that it is proceeding in an orderly manner quite different from the precipitate retrenchment that was witnessed in the latter part of 1930. Most branches of business appear to be conducting their affairs in a highly conservative manner, carefully avoiding premature expansion but maintaining a liquid condition favourable for quick response to any signs of genuine improvement. “ If business psychology at the present moment contains little of the unwarranted expectancy that persisted in belittling the significance of the depres eion throughout its early stages, it is equally free from the almost panicky dismay that was shown during the autumn and winter, when it became clear that the more optimistic views had not been borne out. Business has settled down to a sober acceptance of the situa tion, coupled with a determination to make the most of any opportunities that may present themselves. “ The failure of any significant revival to make its appearance during the early spring stimulus is generally inter preted as an indication that business activity will probably remain at low levels for the time being, with a distinct possibility of recovery at the end of the summer. While some real improvement may occur in the meantime, seasonal influences during the late spring and early summer are not such as to pro vide a favourable setting for revival. Major depressions in the past, moreover, have usually contained periods of some months’ duration when activity remained virtually stationary at low levels, although the widths of these ‘ valleys' show considerable variation. However, in view of the comparative stability of industrial operations and trade volumes in the last few months, little doubt exists that the next significant movement will be upward. “ This view of the situation seems to find support in the recent behaviour of security and commodity markets. Stock prices have passed through several periods of weakness, and the present level is probably not far above the low for the year to date. The recent declines were apparently due, in part, to unfavourable earnings reports and dividend reductions which, of course, reflect past conditions and bear on the future only in so far as they affect present and prospective buying power. The trend of commodity prices in the last few weeks has been no more reassuring, with downward movements in the large majority of basic raw materials, including the strategic groups of farm products and metals.”

AUSTRALIAN MARKETS SYDNEY, May 21. Wheat.—Ex trucks, Sydney, 2s 6d; country stations, Is lid. Flour, £ll. Pollard, £4. Bran, £3 10s. Potatoes. —Tasmanian. £6 to £7. Onions.—Victorian, £4 ss. Oats: White, 2s 6d; Algerian, 2s 3d. Maize, 3s 7d. MELBOURNE, May 22. Wheat, 2s 8d to 2s 9d. Flour, £7. Bran, £4.

Pollard, £4 10s. Oats, 2s Id. Barley, 2s 8d to 2s 9d. Maize, 4s Id. MORRIS, HEDSTROM, LTD. WELLINGTON. May 18. A cablegram received from Morris, llcdstrom, Ltd., Suva, states that the ' net profit for the year amounts to £49.000. The directors recommend a final dividend of 3 per cent., making a total of 6 per cent., payable on June 30.

EXPORT OF FRUIT SHIPMENTS FROM NELSON. NELSON, May 21. The .Nelson district’s fruit export season closed with 789,117 cases of apples and 26.330 cases of pears. The total is over 30,000 cases more than last year. NEW ZEALAND PERPETUAL FORESTS, LTD. PROFIT OF £15,831 FOR THE YEAR. AUCKLAND. May 19. The annual report of New Zealand Perpetual Forests. Ltd., shows that the profit for the year totalled £15,831. The balance brought forward from last year was £5897, leaving available for distribution £21,718. The directors recommend the payment of a dividend of 8 per cent, per annum, which will absorb £15,537. The reserve set aside for income tax is £4OOO, leaving £2lBl to be carried forward. The company has now completed the establishment of forest areas covering 132,413 acres, representing net plantings of 120,394 acres. WILSONS CEMENT COMPANY AUCKLAND, May 21. The annual report of Wilsons (New Zealand) Portland Cement, Ltd., shows a net profit for the year ended March 31 of £74,182 To this is added a balance of £66,207 brought forward from last year, and deducting the interim dividend paid, £30,000, theie remains £110,389 available for appropriation. The directors recommend a final dividend of 5 per cent, and a bonus of 24 per cent., making, with the interim dividend, a total distribution for the year of 124 per cent., leaving £65,389 to be carried forward.

COMPANIES REGISTERED The Mercantile Gazette notifies the registration of the following companies:— Waters, Ritchie, and Co., Ltd. Registered as a private company May 7, 1931. Capital: £lO,OOO, into 10,000 shares of £1 each. Subscribers: Dunedin—F. N. Binney 4333, W. A. Montgomery 2834, E. Varcoe 2833. Objects: To take over the business of “Waters. Ritchie, and C 0.,” merchants, auctioneers, stock, station, land, produce and commission agents, etc., wool and skin merchants. Ramsay, Keith, Ltd. Registered as a private company May 12. 1931. Capital: £BOOO, in 5000 preference shares of £1 each and 3000 ordinary shares. Subscribers: Dunedin—Perpetual Trustees. Estate, and Agency Company (executors of late K. S. Ramsay), 5000 preference and 2864 ordinary shares, K. S. Ramsay 136. Objects: To take over business of “ Keith Ramsay,” timber merchants, sawmill proprietors, ship owners, ship brokers, etc., dealers in machinery, ironmongery. and hardware. Brass Bros., Ltd. Registered as a private company May 1, 1931. Office: Invercargill. Capital: £lO.OOO. in 10.000 shares of £1 each. Subscribers: Invercargill—J. S. Brass 5000, P. J. Brass 5000. Objects: Drapers and outfitters. Brown Boring Company, Ltd. Registered as a private company May 2, 1931. Office: Kuana, Southland. Capital: £lOOO, in 1000 shares of £1 each. Subscribers: Kuana —N. W. Brown 1, W. Brown 549, P. Brown 150. N. S. Brown 150, J. James 150. Objects: To bore for petroleum and oil. NORTHERN STEAMSHIP COMPANY AUCKLAND. May 23. A net profit of £4508 was shown in the annual report of the Northern Steamship Company compared with £13.194 last year. With the amount brought forward £14,367 is available for distribution. An interim dividend of 4 per cent, was paid in November, and the directors now recommend the payment of a final dividend of 3 per cent. —a total of 7 per cent.— against 8 per cent, last year. The balance of £3068 was carried forward. FARMERS’ TRADING COMPANY AUCKLAND. May 22. A net profit of £50,678 is shown in the annual report and balance sheet of the Farmers’ Trading Company, Ltd., for the year ended March 31. This is £9745 below last year’s net profit, but in advance of those for any other year since 1926, when the net profit was £58,073. It is proposed to pay a dividend of 8 per cent, on the ordinary shares compared with 10 per cent, last year.

TIMBER COMPANY’S OPERATIONS AN UNPROFITABLE YEAR. AUCKLAND, May 23. “ Your directors regret having to report the .most unfavourable year’s trading in the history of the company,” states the annual report of the Parker Lamb Timber Company. The profit and loss account shows a loss on the year’s trading, after allowing £lO6B for depreciation and £3OB for bad debts, of £4763. Last year there was a net profit of £849, and the year before that £3002. CHRISTCHURCH MARKETS CHRISTCHURCH, May 23. Milling wheat is quoted at 5s 4d per bushel, on trucks, for Tuscan, compared with 5s 5d last week. Fowl wheat has also eased in value, and the quotation for prompt at which sales have been made

is 5s 2d, f.o.b. There is a considerable quantity offering for spread delivery at 5s 6d. f.0.b., but there are no buyers at' that figure. The potato market has eased a little, and the price for prompt delivery to farmers, on trucks, is £2 a ton for whites. The market is very weak. Today the quotation for Dakatos. on trucks, prompt delivery, is down to 35s a ton for July delivery. Whites are quoted at 655, f.0.b.; July-August-September delivery, 70s a ton, f.o.b.

Last week. This week £ ,. d. £ 8. d. Imperial Consols, 2% p.c. •• 59 2 G 60 10 0 War Loan, 5 p.c.. 1929-47 ..102 17 0 102 10 0 Conversion Loan. 3% p.c. .. 82 5 0 84 0 0 Victory 4 p.c. .. .. . .. 97 0 0 98 0 0 C’wealth 6 p.c.. 1931-41 .. 77 10 0 78 0 0 G'wealth 5% P.O., 192227 .. 67 17 0 68 15 0 N.Z. 6 p.c., 1939-51 . .. 101 15 0 100 17 0 N.Z.. 4 p.c.. 1920 .. . .. 87 2 0 87 10 0 N.Z. 314 p.c.. 1940 . .. 86 5 0 85 0 0 N.Z. 3 p.c.. 1945 .. . .. 76 0 0 75 0 0 N.S.W. 9% P.c.. 1930--0 .. 72 10 0 09 0 0 N.S.W. 6 p.c.. 1930-40 . .. 65 0 0 67 10 0 N.S.W. 5% 1922-32 .. CO 0 0 05 0 0 N.S.W.. 4 P.C.. 1933 . .. 59 5 0 61 0 0 N.S.W. 314 p.c.. 1930-50 58 10 0 54 0 0 N.S.W. 3 p.c.. 1935 . .. 33 0 0 40 10 0 Vic. 6% P.c. 1930-40 . .. 58 0 0 56 0 0 Vic. 6 p.c., 1932-42 .. .. 53 2 G 57 10 0 Vic. 4% p.c.. 1940-60 .. .. 75 0 0 75 0 0 Vic. 314 P.c.. 1929-49 .. .. 45 0 0 54 0 0 Vic. 3 p.c.. 1929-40 .. .. 40 0 0 45 0 0 Q’land 6 p.c.. 1930-40 .. 77 0 0 73 0 0 Q’land 5 p.c.. 1940-90 • • 55 0 0 58 0 0 Q'land 3 T.C.. 1922-47 .. 50 0 0 44 15 0 S.A. 914 P.C.. 1930-40 .. .. 83 0 0 76 0 0 S.A. 314 P.O.. 1939 .. .. 50 0 0 CO 0 0 S.A. 3 p.c., 1918 or after •• 45 0 0 45 0 0 W.A. 0 P.c.. 1930-40 73 0 0 70 5 0 W.A. 314 P.c.. 1920-35 .. 69 0 0 69 0 0 W.A. 314 P.c.. 1915-35 .. 65 0 0 63 0 1 Tas. 914 P.c.. 1930-40 .. .. 73 0 0 78 15 0 Tas. 3% p.c.. 1920-40 .. .. 53 0 0 58 0 0 Tas. 3 p.c.. 1920-40 .. .. 55 0 0 55 0 0 FOREIGN EXCHANGES. RUGBY. May 21. Tar. May 19. May 21. Paris, fr to £1 .. .. 124.21 124.3314 124.3714 Brussels, oelgas to £J 35 34.96’4 34.95% Oslo, fer to £1 .. .. 18.150 18.16’4 18.16’4 Stockholm, tr to £1 .. 18.150 18.1414 18.14’4 Copenhagen, irr to £1 18.150 18.16% 13.16% Berlin, marks to £1 .. 20.43 20.4214 20.4214 Montreal, del to £1 .. 4.86 2-3 4.87 4.30 13-16 New York, dol to £1 4.86 2-3 4.36 17-32 4.36 15-32 Yokohama, pence to yen 24.58 24 21-32 24 13-32 Hongkong, pence to do) 25.15 11% 1114 Bombay, pence to rupee 18 17 13-16 17 27-32 Bataria, florins to £1 12.107 — — Milan, lire to £1 92.45 92.9114 92.9314 Amsterdam, guild to £1 12.107 12,11 12.10% Prague kr to £1 24.02 164% 164% Geneva, kr to £1 25.22 25.23 25.22’4 Vienna, scblllitgs to £1 24.5614 34.6014 34.60% Helsingfors, marks to £1 193.334 19314 193% Madrid, pesetas to £1 25.2214 48.3 48.6 Athena drachma to £1 25.22’4 375 375 Lisbon, escudos to £1 4.5014 108.25 108.25 Bucharest tel to £1 .. 973 S17 817 Rio de Janeiro, pence to milrels 18 078 3% Buenos Aires, pence to pesos 47.82 35 1-1C 34% ShangliaL pence to tael 23% 14% 14%