WOOL TRADE.

Auckland Star, Volume LXVIII, Issue 44, 22 February 1937, Page 4

WOOL TRADE.

PRICE DECLINE EXPECTED

THE BANKS REPORT

The Bank of New Zealand has received the following advice from its London ofik-e under .late 19th instant: — "I'i osncrts for next sei ice are doubtful, and prices generally are expected to decline as follows: —Merinos and tine crossbri-ds, '.id to Id per Hi; medium and coarse erostibleds, '/id per lb.

CANTERBURY MARKETS

WEATHER RETARDS HARVEST

(By Telegraph.—Press Association.) t 11KISTCHUKCH, Saturday. The continued wintry weather not oniv in Canterbury but throughout New Zealand has greatly disturbed the strain and produce markets and unless there i* .suoii a good spell ot dry weather serious damage may be done* to crops not yet harvested. Partners are. anxiously taking every opportunity to harvest their wheat and a consequence is that a great deal of urain being sent in i« out of condition. Deliveries are heavy whenever the weather is suitable. An announcement of the fowl wheat position for the season is eagerly awaited, and trade is slow in the meantime, although prices are firm. Oats are inclined to weaken in price beeauß#<if the heavy deliveries of excellent grain that are bein# made. Not for manyyears have the yield and quality been up to the etandard of this year.

Reports from the North Island and from Southland and Otago indicate that there will be a serious reduction in the amount of ryegrass saved. Much of the seed delivered so far is of poor quality and the market is very firm. Plains cocksfoot is coming in freely and finds a ready market. Little has yet been sent from Banks Peninsula. There is no*£reat activity in small seeds, and certainly not the activity usual at this time of the year.

EXCHANGE RATES. NEW ZEALAND QUOTATIONS. Following are the latest rates for purchases and sales of foreign exchange, quoted by the Bpnk of New South Wales, Auckland. They are subject to alteration without notice To £1 N.Z. On Demand. Currency. T.T. Buying. Selling. U.S.A., dollar .. 3.9.'i :u>7; fi.ttJij . Canada, dollar . 0.1>2i 3.07 3.922 Austria, sell. .. 20.5S — 20.(10 Belgium, belga . 23.17(1 — 2-'!.lx7 C'Blovakia, er. .111.87 — 111.02 Denmark, kroner 17.-S1»:j 18.263 J7.no:; France, franc .. St.2" — 51.27 Germany, r.m. . 9.700 — 9.70.1 Holland, florin . 7.1:10 — 7.143 Italy, lire 74.45 — 74.50 Java, florin .... 7.<H>7 — 7.101 Norway, kroner 15.801 16.241 15.001 Sweden, kroner 15.489 15.844 15.499 Switzerland, fr. 17.129 — 17.1' M Noumea, franc . 82.86 — 82.02 Papeete, franc . 83.01 — 83.07 N.Z. pence to— Hongkong, doL . 1825-32 18.25 18 49-64 India A Ceylon, rupee 22 11-16 22.375 22 43-64 Japan, yen .... 17 31-64 — 17 15-32 Shanghai, dollar 18 5-16 17 25-32 18 19-114 Singapore, dol. . 35 7-32 34 41-64 3513-64 Chefoo, dollar . 18 29 64 17 25 32 18 7-16

FOREIGN QUOTATIONS. British Official Wireless. (Received 11.30 a.m.) RUGBY, February 20. Foreign exchanges on London to-day, compared -with rates previously quoted :— Feb. 20. Feb. 19. Par. Montreal, dol. . 4.898 4.89J 4.Silt; New York, dol. 4.89j 4.89* 4.866 Paris, franc 105 9-64 105.125 124.21 Brussels, belga 29.021 29.03 Geneva, franc 21.43J 21.443 25.22 Amsterdam, fl. 8.94J 5.94 i 12.107 Milan, lire ... 03 93 92.46 Berlin, r.m. ... 12.16 12.16 20.43 Stockholm, kr. 19.39J 19.39} IS.HiO Copenhagen, kr. 22.40 22.40 18.159 Oslo, kr 19.90 19.90 18.159 Vienna, sch. .. 26.50 26.50 34.585 Prague, kr. ... 140 5-16 140 5-16 Hi 4.25 Helsingfors, mk. 226.50 226.50 193 23 Madrid, pes. .. 55$ 55| 25.221 Lisbon, escu. . 110 3-16 110 3-16 110 Athens, dr. ... 547.50 547.50 375 Bucharest, lei . 670 670 813 1 Rio, mil. .• 4.25t 4.25t 5.9 d M'video, dol. . 39.875t 39.875t 51d Bombay, rupee 18 9-64 18 9-64 18d Shanghai, dol. 14.50 14.50 • Hongkong, dol. 1415-16 1415-16 • Yokohama, yen 14 14 24.58 Batavia, fl. . .. 8.90J 8.901 12.10 Warsaw, zlotys 25.84 25.84 43.38 Belgrade, din. 213 213 276.31 All quotation* are for cable transfers. tSellers. S Nominal. •Price jer unit of local currency.