FINANCIAL NEWS

Taranaki Central Press, Volume IV, Issue 340, 22 January 1937, Page 6

FINANCIAL NEWS

BASE METALS MARKET Copper Recovers Slightly. London, January 20. The official London (middle) quotations for Wednesday, as reported by the Australian Mines and Metals Association, compare with those previously cabled as follows:

FOREIGN EXCHANGES On New Zealand Currency Basis. The Bank of New South Wales, Wellington .quoted the following rates tor their purchases and sales of foreign exchanges: New Zealand Buying. Selling. on London ... T.T. 124 .124/10/£N.Z. to £ stg. 100 . O.D. 123/10/-124/8/9 Australia .. T.T.

The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates on Saturday on a New Zealand currency basis. They are subject to alteration without notice. U.S.A. Doi. Canadian Doi Selling (Per £1 N.Z.) (Per £1 N.Z.) T.T. 3.93 3-8 3.93 5-8 O.D. 3.93 7-8 3.94 1-8 Buying O.D. 3.981 3.98 3-8 N.Z. Pound Abroad. Based on figures quoted by the Bank of New South Wales, the New Zealand pound, compared with its original par value, is equivalent to approximately:— 16/1 in London., £l/0/1 in Australia. 16/2 in U.S.A. 16/2< in Canada. 13/62d in France. 16/2 in Italy. 9/6-1 in Germany. 11/82 in Java. £l/8/1 in Japan. Dairy Produce Slow. The New Zealand Loan and Mercantile Agency Co., Ltd., have received the following advice from their London house, dated January 20:—Butter: New Zealand choicest salted, 93/-. per cwt (96/-). Cheese: 52/- to 53/per cwt. (57/-). Markets slow.

Jan. 19. Per ton. Jan. 20. Per ton. Copper— £ s. d. £ s. d. Standard, spot 50 7 6* 51 9 41 Do., forward 50 9 41 51 10 71 Electrolytic. 55 0 0 56 0 0 to 5.6 0 0 57 0 0 Wire bars .. 56 0 0 57 0 0 Lead— Spot 26 11 3 27 6 3 Forward .... 26 11 3 27 2 6 Spelter— Spot 20 5 0 21 5 0 Forward ... 20 10 0 21 6 3 Tin — Spot 229 12 6 229 12 6 Forward .... 230 5 0 230 2 6 Silver — Standard,per oz. 20Jd. Fine 22 l-8d. 20 3-8d. 22d.

£A to £100 O.D. 101 100/10/Fiii £F to £100 O.D. 90/7/6 89 New York . T.T.. 3.96 7-8 3.931 Doi. to £ O.D. 3.98 1-8 3.93? Montreal .. T.T. 3.97 3.93J Doi. to £. O.D. 3.981 3.94 Austria .... T.T. — 20.68 Seligs. to £ O.D. — 20.70 Belgium ... ' T.T. — 23.262 Doi. to £ i O.D. — 23.273 Czechoslovak. T.T. 112.20 Crs. to £ O.D. — 112.25 Denmark . .. T.T. 18.203 17,893 Kr. to £ .. O.D. 18.263 17.903 France .... T.T. — 84.23 Frs. to £ O.D. — 84.27 Germany .. T.T. — 9.729 R.M. to £ O.D. — 9.734 Holland ... T.T. — 7.153 FIs. to £. O.D. — 7.157 Italy T.T. — 74.71 Lire to £ O.D. — 74.76 Java T.T. — 7.113 FIs. to £ O.D. — 7.117 Norway T.T. 16.181 15.891 Kr. to £ . O.D. 16.241 15.901 Sweden T.T. 15.785 15.490 Kr. to £. O.D. 15.845 lEf.500 Switzerland . T.T. — 17.093 Frs. to £. O.D. — 17.098 Shanghai T.T. 17 27-32 IS 11-32 d. to 1 dol. O.D. 17 13-16 18 21-64 Hong Kong. T.T. 18 5-16 18 13-16

d. to 1 dol. O.D. 18 9-32 18 51-64 India and Ceylon .. T.T. 22 13-32 22 11-16 d. to rupee O.D. 22 3-8 22 43-64 Japan T.T. — 17 29-64 d. to 1 yen O.D. — 17 7-16 Singapore .. T.T. 3* 47-64 35 7-32 d. to 1 dol. O.D. 34 41-64 35 13-64