THE STOCK EXCHANGES

Press, Volume LXXII, Issue 21747, 1 April 1936, Page 13

THE STOCK EXCHANGES

CHRISTCHURCH MARKET BRIGHTER

PRICES STILL IRREGULAR

The Christchurch Stock Exchange had a rather brighter tone yesterday, but prices were still erratic. The volume of business was moderate, with interest in banks again strong. Timaru Breweries showed marked strength.

DEALINGS COMPLETED

LISTED STOCKS Sales on 'Change

Sales Reported

UNLISTED STOCKS

Government

New Zealand Government 4 per cent. Stock, due 1940, changed hands at £lO2 ss. Bank of New South Wales were firm at £34 2s 6d and more wanted at £34. Bank of New Zealand were easier with dealings at 44s 3d and 445, and further sellers at the lower price, buyers at 435. Reserve Banks were steady at £5 17s. and more were wanted at £5 16s 6d. sellers £5 19s. New Zealand Refrigerating, 10s paid, shares were firm with sellers and dealings at 9s 9d, buyers at 9s Bd. Kaiapoi Woollen. 17s paid, were easier at 14s 6d, closing quotations 3d on either side. New Zealand Breweries changed hands at 51s 6d, buyers staying in at that price, sellers at 51s 9d. Timaru Brewery shares were firmer on buyers' offers of 14s 6d. Miscellaneous British Tobacco, cum dividend, were firm with buyers and business at 40s 6'd. sellers at 40s 9d. Dominion Fertiliser had dealings at 25s 4d and 25s sd. and more were wanted at Ms 3d. Dunlop Rubber remained unaltered at 14s. market closing Id either way. G. J. Coles moved up to 71s 9d, but late sellers offered at 71s 7d, buyers at 71s 4d. New Zealand Drug, cum dividend, declined to 755, market closing 74s buyers, 77s sellers. Argo Gold were a shade easier at Is 3d. buyers staying in at that price, sellers at Is 3Jd. Brian Borus were firm at Mount Lyell were steady with buyers and business at 23s lid, sellers at 245. Mount Morgan, cum dividend, rose to dealings at 16s 7d and 16s Bd. closing quotations 16s 6d buyers. 16s 7d sellers.

AUCKLAND Sales on 'Change

Unlisted Stocks .Woolworths, Sydney, ordinary were firmer on buyers' offers, £6 15s.

LATEST QUOTATIONS

WELLINGTON

DUNEDIN

SYDNEY

On the Sydney Slock Exchange yesterday 1 lie investment market was fairly steady, with a Rood turnover. Breweries were in good demand, but Broken Hili shares were a shade easier. Commonwealth Bonds mostly held up well.

Morning Sales

Miscellaneous

MELBOURNE

£ s. d. Commercial Bank of Australia 1 0 5 Australian Iron and Steel (pf.) I 5 ° G. J. Coles .. • • -^oo Australian Glass ■• * j jj Mount Lyell .. •• •• * * " Mount Morgan •• •• »» J Koroere •• ■• '' V n 4' Loloma .. •• ■• ? Compound ■• •■ 1 •* "

LONDON QUOTATION

(INITED I'EESS ASSOCIATION—COPYRIGHT \

LONDON, March 30. New Guinea Goldfields, 3s 3d.

WOOL RETURNS INCREASE

Cheque of £1,400,000 For Canterbury

A SUCCESSFUL SEASON CLOSES

The realisation from the fourth Christchurch wool sale on Monday evening should bring the total cheque for wool sold in Christchurch this season up to approximately £1,400,000, an increase of 68 per cent, on the realisations for the four sales last year, when a total of £841,000 was paid for 77,162 bales. The offerings this year have been bigger than they were last year, the total being approximately 91,300, an increase of 18 per cent. No official figures are yet available, of course, for the fourth sale, and will not be for a few weeks, but an approximate estimate of £l3 a bale, or £210,500 for the 15,500 bales sold, has been made. The following table gives a comparison cf the returns a bale at the four sales last year, and this year:—

The increased oftering here, which was the biggest for many years, was due in some measure to the anxiety ever the future of the exchange rate of a number of large growers, who usually sell in London. A number of growers, again, who ship when prices are lower, decided this year to take advantage of the good prices ruling locally, and sold here. The season -must be considered a very satisfactory one. The wool on the whole was in good order, though much of the stylish ewe wool for which Canterbury has become noted was not in the perfect condition growers and buyers would have liked. The growing season was an easy one, and the wool was inclined to be heavy in condition, though there was little sign of serious faultiness.

The finer wools showed an increasing strength up to the fourth sale, when there was a slight recession, but crossbreds, of which not a great weight is offered in Christchurch, increased in popularity and finished at the strongest point of the season. The high point of the Canterbury season was undoubtedly the second sale, for which the wool availab?* from farmers was very much in excess of the catalogue limit. Brokers had rather an unenviable time trying to placate clients anxious to sell at the socond sale, when the catalogues were already heavily over-filled. The result was that much of the lower grade wool was held over, and an exceptionally high-quality offering was put before the buyers. The result is reflected in the averages, which showed a rise greater than would have been justiricd by the actual rise in price.

Another point of interest this season has been the willingness with which growers have met the market. Canterbury growers have in the last few difficult years sold readily, and the effect has been that even after a season of particularly low prices, the market has not been embarrassed by any undue weight of held-over wool. That was true this season, when the amount of old wool remaining in hand was small.

The following table gives the official returns from the first three sales, and the estimated returns from the ■fourth:—

Bales Total Average Average sold, return, per lb. a bale. £ ' d. £ s. d.

Dec. 12— 21,640 321,280 10.903 14 16 11.174 Jan. 27 28.104 461,108 12.08 16 8 1.72 March 3 26,09« 432,314 11.582 16 4 5.129 March 30— 15,500 210,500 9.5 13 0 0

FOURTH CHRISTCHURCH AUCTION

miOKEKS' OFFICIAL REPORT

The official report of the Christchurch Woolbrokers' Association on the sale on Monday evening states: —

The fourth wool sale of the season was held in the New Zealand Loan and Mercantile Agency Company's wool store on March 30, when 17,112 bales were offered to a full attendance of buyers.

The selection was a poor one, and comprised mostly back country wools and crossbred from the West Coast and Chatham Islands. The condition generally was heavy, and most of the wools were dusty and discoloured, while there was a fair amount of seed showing in places. With the exception of a few good lines of halfbred, practically no super lots were included in the offering. Competition was keen on the better wools, but shabby and discoloured lots were inclined to be irregular and alow in selling.

Passings were heavier than at the earlier sales, but more than 90 per cent, of the offering was disposed of. The following is the range of prices:

FOREIGN EXCHANGES

FOREIGN EXCHANGE RATES

DOLLAR MARKET RATES

The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates yesterday on a New Zealand currency basis. They are subject to alteration without notice:— U.S.A. Canada. (Per £1 N.Z.) • dol. dol. Selling— T.T. .. .. 3.968 3.98J O.D. .. .. 3.97S 3.991 Buying— O.D, .. .. 4.018 4.03 i

LONDON PRODUCE MARKETS

HIGH COMMISSIONER'S REPORT

The Department of Agriculture has received the following cablegram, dr.ted March 28, from the High Commissioner for New Zealand, London: Tallow —Poor demand continues with nominal quotations slightly lower.

Hemp—Manila: Market quiet and unchanged. Sisal—lrregular, but inclined to be easier. Value for March-May and May-July shipment £2B. New Zealand—Little more demand. Small business has been done. Highpoints £2l ss, rejected £l7.

Apples—Market slow. The follow' ing are the market values of soundconditioned fruit of the varieties mentioned, the range of prices generally representing the difference between the several grades and/or counts. Variable-conditioned fruit of similar varieties proportionately less in value:—Alfriston, lis to 13s; Worcester Pearmain, 10s to 12s; Gravenstein, 9s to lis. Peas—Maples: Prices higher on bad crop report. New Zealand-Tasmanian: Small business done in No. 1 New Zealand for March-April shipment at 51s 6d to 555. Tasmanian: 54s 6d to 575. Buyers disinclined to follow rise, as large stocks are held in store. Blues: Market quiet and nominal. "A" grade Tasmanian £ll.

300 Bank of N.Z. (3) 2 2 4 4 3 0 15 Reserve Bank o£ N.Z. 5 17 0 400 N.Z. Refrig. (10s pcU (.2) 0 9 9 150 N.Z. Breweries (3) 2 11 6 50 British Tobacco ' (cum div.) 2 0 6 92 Mt. Lyell (odd lot) 1 3 11 100 Mt. Morgan (cum div.) 0 IB 7 1400 Argo Gold (3) 0 " l 0 3 24 500 Brian Boru 0

£250 N.Z. Govt. 4 p.c. Inri.. 1937-40 102 5 0 5 Bank of N.S.W. 34 2 6 200 Bank of N.Z. (2) 2 4 3 200 N.Z. Refrig. HOs pd.) 0 9 9 150 Kaiapoi Woollen (17s paid) 0 14 6 200 Dominion Fort. 1 5 1 K 4

200 Dunlop Perdnau Rubber 0 14 0 50 G. J. Coles 3 11 9 50 N.Z. Drug (cum divj :i 15 0 100 Mt. Morgan icumdiv) 0 16 8

N.Z. Government Dcbcnluri ■s Buyers. Seller-; i: s. tl. £ s. d . p.c. Ins., in.'{<M3 .. 100 10 0 — 4 p.c. Ins., 1937-40 . . 102 0 0 — 4 p.c. Bonds, 1940 102 5 0 — 4 p.c. Bonds, 194G 103 0 0 — 4 p.c. Bonds, 1949 103 5 0 — 4 p.c. Bonds, 1955 103 10 0 —

Ban lis Adelaide (£5) _ 7 0 0 Coram, of Aust. (10s) 1 0 2 1 0 3 E., S., and A. (cum div., £3 paid) < 6 4 0 6 7 0 Nad. of A'asia. (£10 paid) 15 1 0 15 7 0 Natl, of N.Z. (£2 10s) :s i;j 0 — N.S.W. (£20) 34 0 0 — New Zealand (£1) 2 3 0 2 4 0 Reserve (£5) .. 5 16 6 5 19 0 Union o£ Aust. (£5) .. — 0 15 0

Insurance Natiomi! (7s paid) 0 18 0 o ia C New Zealand (£1) 2 17 0 — Queensland (£1) 2 14 :i — I.Oitn iiiitl As ICIH'.V Dalnoty and Co. (£5) — .<) (> G GoIdsbroiiBh, Mori (£1) 1 11 2 l n 0 N.Z. Loan and Merc. (ord. slock, £100) .. — 30 0 0 United Build. Socicl.y (cum div., £1) — 1 1 0 Wright, Stephenson (pf.. El) — L 1 0 ;s

Shipping , Devonport Ferry (£1) N.Z. (pre/., £10) 11 15 0 1 1 3 Frozen Meat Canterbury (£7 10s pd.) N.Z. Kef rig. (10s paid) N.Z. Rcfrig. (£1 paid) 0 9 8 10 0 0 9 1 0 0 9 0 Woollens Manawatu Knitt. (£1) Kaiapoi (17s paid) Kaiapoi (7s paid) Kaiapoi (pref., 17s) 0 14 3 0 5 10 0 17 6 1 18 0 14 0 6 0 18 9 9 0 3 Coal Grey Valley (£1) Westport-Stockton (10s) Weslport-Stoekton (pr„ 10s) 0 10 0 1 0 1 0 0 9 0 1 0 2 6 5 Gas •* Auckland (£1) Christehurch (10s pd.) 0 15 0 1 5 9 Breweries New Zealand (£1) Staples (£1) Swan (25s) Timaru (cum div., 10s) Tirnaru (10s paid, new. cum div.) Toohevs (cum div., 16s) Tooths (£1) 2 11 1 12 5 19 0 14 1 11 6 0 0 G 0 2 11 1 14 0 16 2 13 9 0 0 0

Anthony Hordern (£1) — 1 0 0 Auat. Glass (£1) 4 1 6 4 2 9 Aust. Iron and Steel (£1) •• •• 1 4 9 1 5 2 Beath and Co. (cum div., £D — i a 0 Beath and Co., (Is pd., cum div.) 0 4 0 0 5 3 Berlei (N.Z.) (£1) 2 18 0 3 5 0 British Tobacco (cum div., £1) 2 19 6 2 19 10 British Tobacco (cont., £1) 1 15 7 1 16 0 Claude Neon (N.Z.) (£1) Colonial Sugar (£20) .. - 2 8 42 10 0 0 Dominion Builders Supplies (10s) 0 5 3 — Dominion Fert. (£1) .. 1 5 3 1 6 0 Dunlop Rubber (£1) .. 0 13 11 0 14 1 Electro. Zinc. (ord., £1) 1 16 9 1 17 6 Electro. Zinc (p£., £1) 2 0 6 2 0 9 Glenmore Brick and Tile (16s paid) 0 2 6 0 6 0 G. J. Coles (£1) 3 11 4 3 11 7 Greater Crystal Palace (£1) •• Hay's, Ltd. (£1 paid) 0 19 G 0 10 1 1 6 0 Hay's, Ltd. (15s paid) — 0 10 0 Mason, Stcuthers (10s 0 7 0 paid) — N.Z. Drug (cum div., £2) 3 14 0 3 17 0 N.Z. Farmers' Co-op. (10s paid) — 0 2 0 N Z. Farmers' Co-op. (1st pref., £5) 3 15 0 4 5 0 N Z. Farmers' Co-op. (B pref., £4) 1 17 6 — N Z. Farmers' Co-op. (4$ p.c. stock, 1940, £100) 90 0 0 91 0 0 N.Z, Farmers'Fert. (£1) 0 19 0 1 1 0 N Z. Newspapers (£1) 1 16 6 1 19 0 N.Z. Paper Mills (£1) — 1 10 0 North Cant. Co-op. Flour (10s) 0 15 7 1 0 0 Procera Bread (10s) 0 15 6 — Whitcombe and Tombs (£2 10s paid) 3 10 0 3 14 0 Woolworths (N.Z.) (ord., £1) 5 0 0 5 7 0 Woolworths (N.Z.) (pref., cum div., £1) — 1 16 0 Woolworths (Vic, pi'., £1) - ■ —' 1 9 0

Buyers. Sellers. £ s. d. £ s. d. Mining: Antonios Hydraulic (Is) 0 0 4 0 0 8 Aotearoa (Is) 0 0 1 0 1 0 Argo Gold (Is) 0 1 3 0 1 3J Big River (Is) 0 1 9 — Barrytown (£1) 0 15 0 1 9 0 Brian Boru (Is) 0 0 2 0 o 23 Deep Lead (Is) 0 0 4J 0 1 0 Gillespie's Beach (Is) 0 1 2 0 1 4 Golden Dawn (5s) — 0 3 2 Goldfields Dredg. (Is) 0 0 3J 0 0 4 Irowat (2s 6d) 0 3 0 — Lawson's Flat (Is) — 0 0 3?. Maerewhenua (Is) 0 0 n 0 0 24 Mahakipawa (Cd) 0 0 Oh 0 0 1 Mahakipawa (1930. pref., Is) — 0 0 22 Mahakipawa (1930 pi.. Is) — 0 0 2J Maori Gully (Is) 0 0 10 0 0 11 Mining House Concessions (Is) — 0 0 0.1 Mossy Creek (cum div., Is) 0 1 2i 0 1 4J Mount Lyell (£1) 1 3 ll" 1 4 0 Mount Morgan (cum div., 2s 6d) 0 16 G 0 16 7 Nokomai (5s) — 0 2 (i Okarito (5s) ■—■ 0 5 0 Rawang Tin (10s) .. •— 0 9 0 Skippers (Is) 0 0 21 0 0 23 Stafford Sluicing (Is) — 0 0 9 Worksop Extend. (Is) — 0 2 0

All transactions in stocks quoted in this section are subject to a different rate of brokerage from listed stocks and are not quoted on the official list. £ s. d. £ s. d. Andersons, Ltd. (pref.) 0 19 0 0 19 10 Asso. Motorists Petrol (pref.) .. .. — 1 6 6 Ben Ledi (Is paid) .. — 0 0 3 Canty. Roller Flour 0 5 0 0 9 0 Christchurch Press .. 8 17 C — Carbonic Ice .. 0 15 0 110 Emperor Fiji . . Oil 9 0 13 0 Macetown .. — 0 0 7 National Tobacco .. — 3 9 0 New River (Is paid) 0 0 5 0 0 9 N.Z. Mining Invest. — 0 0 8 N.Z. Perpet. Forests 2 10 0 3 0 0 Woolworths (Sydney) (ord., cum div.) . . 6 15 0 — Woolworths (W. Aus.) 9 13 0 11 0 0

3i p.c. Stock, 1038-52 ). s. 102 0 0 Comm. Bank of Australia .. 1 0 3 Bank of New South Wales 34 5 0 Bank of New Zealand (2; 2 4 2 4 5 17 2 0 Reserve Bank 0 N.Z. Insurance .. (2) 2 18 0 Soutli British Insurance 4 9 0 National Mortgage 2 10 9 Renown Collieries 0 10 0 Auckland Gas 1 6 0 Huddart Parker 1 17 6 Broken Hill Pty. 2 If) 10J Consolidated Brick 0 9 9 Dunlop Perdriau 0 14 0 Farmers' Trading (B pref.) .. 0 16 6 Gear Meat I 0 0 G. J. Coles 3 11 9 Milne and Choycc (Deb.) 0 16 6 N.Z. Drug Co. 3 15 0 N.Z. Itefrig. (10s paid) 0 9 9 Wilson's Cement 2 0 0 Woolworths (N.Z.) (2) 5 4 6 Brian Boru .. .,. 0 0 2-1 Mount Kasi .. .\. 0 10 1 Mount Morgan 0 16 6 Placer Development 5 16 0 Rawang 0 8 9 Unlisted Stocks Woolworths (Sydney) C 16 0

Sales on 'Change £ s. d. K.J )).e. Stock, 1933-52 102 IT) 0 Makcrua Drainage, 4.1 p.c., 1941 <M 0 0 E., S., and A. Bank C 4 0 Reserve Bank 5 17 a Taupo Totara 0 9 0 G. J. Coles 3 11 u Unlisted Stock Wool worths (Sydney) 6 15 6

'Sales on Change £ s. d 2 4 3 0 4 8 Bank of N.Z. (late Monday) .. Mortgage Corp. (late Mon.) (2)

Bank oi' New South Wales 5: s. ci. . 35 0 0 Australian Ga;; A 7 12 0 Toohey's Brewery 1 11 (1 Tooth's Brewery . 2 12 9 Associated Newspapers . 1 2 7} Associated Newspapers (pf.) . . 1 3 7J Lustre Hosiery 1 3 10J Millaquin Sugar 1 18 G

Afternoon Sales Bank of New South Wales 35 0 0 Bank of N.S.W. (London airmail delivery) 35 0 0 Bank of Australasia 11 16 0 Colonial Sugar 42 5 0 Associated Newspapers 1 2 6 Australian Gas A 7 12 0 British Tobacco (ex div.) 2 1 0 Tooth's Brewery 2 12 9 Toohey's Brewery 1 11 6 Carlton Brewery 2 12 9 Queensland Brewery 1 9 9 Drug Houses of Australia 1 9 6 Australian Iron and Steel (pf.) 1 5 n Australia'! Glass 4 3 0 Dunlop Rubber 0 14 4 Golclsbrough, Mort 1 11 7i Winchcombe, Carson 1 12 9 Morris, Hedstrom (Fiji delivery) 1 5 0 Electrolytic Zinc 1 17 1 9 9 Farmers David Jones 2 3 0 Anthony Hordern 1 0 0 Standard Cement . . •■ 1 2 la General Industries (ex div.) .. 0 19 4i Lustre Hosiery 1 3 9 Australian Guarantee Corpn. .. 1 5 0 6 Hume Pipe 0 16 Cash Orders 1 3 6 Claude Neon Spencers 2 17 a 0 7 11 15.9 0 13 11 0 16 6 Sargents United Provisions Malleys Kandos Cement 1 3 n 1 4 0 17 1 4 0 16 0 16 1 4 9 Mark Foy Beard, Watson IX 9 g Meggitts Mount Morgan •• •■ Mount Morgan (N.Z. delivery) 9 11 3 0 0 o Mount Lyell Broken Hill Proprietary •■ 3 0 1 16 8 1 4 2 0 15 5 14 0 8 0 9 0 5 Broken Hill Proorietary (new) North Broken Hill Zinc Corporation o Kuala Kampar Tin 0 11 Placer Development ... Rawang Tin .. 10 Mount Kasi Tin 3 Koroere 1 0 1\ Loloina • • Commonwealth Bonos— 102 3 103 0 103 5 101 12 102 10 101 2 g 4 per cent., 1938 0 0 (1 0 6 4 per cent., 1941 4 per cent., 1944 4 per cent., 1947 .. 4 per cent., 1957 4 per cent., 1961

1934-35. 1935-36. £ s. d. £ s. d. First sale .. 11 2 8 14 16 11 Second sale 11 12 10 16 8 1 Third sale .. 10 4 5 16 4 5 Fourth sale .. 10 7 7 13 0 0

d. d. Merino. 64/70, 60/64— Super 15 to 16 Average 12£ to 14J Inferior 9 to 12 Corriedale— Super 15| to 17 Average 12| to 15£ Inferior 9£ to 12 Fine Halfbred, 58, 56/58, 56- - Extra super 19i Super 153- to 173 Averp.ge 134 to 15J Inferior .. 9£ to 13 Medium Halfbred, 50/56, 50- - Super 13] to 14.',Average 12 to 13 Inferior .. 8j to m Extra Fine Crossbred, 48/50 i— Super 10J to 12 Average 9£ to 10| Inferior 7 to 9 Fine Crossbred. 46/48— Super 9h to 105 Average 8A to 9 Inferior 6 to 8 Medium Crossbred, 44/46— Super 8? to 9\ Average 73 to m Inferior 6 to 74 Bellies and PiecesMerino good to super .. 12 to 16 Merino low to medium 9i to 11JBellies— Halfbred good to super • 9 to Hi Halfbred low to medium 6£ to 8i Pieces — Halfbred good to super 10-i to 143 Halfbred low to medium 7 to 10 Bellies and Pieces — Crossbred good to super 63 to 83 Crossbred low to medium 5 to 61 Crutchings— Halfbred medium to good 6 to 8 Halfbred inf. and seedy 4 to 5£ Crossbred medium to good 54 to 8J Crossbred inf. and seedy 3* to 5 Locks— Merino 5 to 73 Halfbred .. ■ 44 to 6£ Crossbred «».'"' *. 4 to 5

(BRITISH OFFICIAL WIEIMSS.) RUGBY, March 30. Par. Mar. 28 Mar. 30. Paris, Jr. to £1 124.21 75 3-64 75 7-64 New York — dol. to £1 4.S66 4.941 4.94 15-16 Montreal, dol. to £1 4.866 4.97 4.97J Brussels, belgas to £1 25 29.24 29.265 Geneva. fr. to £1 25.2215 15.19J 15.22J Amsterdam. fl. to £1 12.107 7.28 7.31J Milan, lire to £1 94.26 62 9-16 62£ Berlin, reichmarken to £1 20.43 12.341 12.37 Oslo, kr. to £1 18.159 — — Stockholm. kr. to £1 18.159 19* 192 Copenhagen, kr. to £1 18.159 22.39* 22.39J Vienna, scngs. to £1 34.585 26i 261 Prague. kr. to £1 16425 119J 119S Helsingfors, marks to £1 193.23 227 227 Madrid, pesetas to £1 25.2215 36 3-16 36 3-16 Lisbon, escudos to £1 110 1082 1082 Athens, drach to £1 875 520 520 Bucharest. lei to £1 818.6 670 670 Belgrade. dinars 25.2215 21.7 21.7 Rio de Janeiro. pence to milreis 4.899 4i 41 Buenos Aires, pence to dol. 51 Montevideo. pence to dol. 51 39* 391 Bombay, pence to rupee 19 18i 18i Shanghai. pence to dol. * Hi 14| Hong Kong, pence to dol. • 152 152 Yokohama. pence to yen * 14 14 Batavia, guilders 12.107 7.27J 7.27J Warsaw, par zlotys to £1 43.33 — — ♦Determined by price of silver. 1

The Bank of New South Wales :, Christchurch, quoted the following rates as ruling yesterday for its sales and purchases of foreign exchange. The rates are subject to alteration without notice:— Buying. Selling. London— £ N.Z. to £100 stg. T.T. 124 124/10 O.D. 123/10 124/8/9 Australia — £ A. to £100 N.Z. T.T. 101 100/10 O.D. 101 100/10 Fiji— £ F. to £100 N.Z. T.T. 90/7/6 89 O.D. 90/7/6 89 New York— Dol. to £1 N.Z. T.T. 4.002 3.96g O.D. 4.01g 3.97J Montreal— Dol. to v £1 N.Z. T.T. 4.02 3.98J O.D. 4.03$ 3.99 Austria— Schgs to £1 N.Z. T.T. — 20.77 O.D. — 20.79 Belgium— Belgas to £1 N.Z. T.T. — 23.373 O.D.— 23.384 Czechoslovakia — Crowns to £1 N.Z. T.T. — 95.06 O.D. — 95.11 Denmark — Kroner to £1 N.Z. T.T. 18.203 17.893 O.D. 18.263 17.903 France— Francs to £1 N.Z. T.T. 60.89 60.06 O.D. 61.34 60.10 Germany— Reichmarks to £1 N.Z. T.T. — 9.862 O.D. — 9.867 HollandFlorins to £1 N.Z. T.T. 5.979 5.829 O.D. 6.039 5.833 ItalyLire to £1 N.Z. T.T. — O.D. — Java— Florins to £1 N.Z. T.T. 5.949 5.789 O.D. 6.009 5.793 Norway— Kroner to £1 N.Z. T.T. 16.183 15.893 O.D. 16.243 15.903 Sweden— Kronor to £1 N.Z. T.T. 15.785 15.490 O.D. 15.845 15.500 Switzerland — Francs to £1 N.Z. T.T. 12.404 12.134 O.D. 12.509 12.139 Noumea— Francs to £1 N.Z. T.T. 62.69 58.69 O.D. 63.14 58.75 Papeete— , Francs to £1 N.Z. T.T. 62.69 58.84 O.D. 63.14 58.90 Hong Kong— N.Z. pence to dol. T.T. 18 57-64 20 41-64 O.D. 18 51-64 20 39-64 India and Ceylon— N.Z. pence to rup. T.T. 22 9-64 22 57-64 Japan— N.Z. pence to yen O.D. 22 3-64 22J T.T. — 17 39-64 O.D. — 17 19-32 Shanghai— N.Z. pence to dol. T.T. 17 5-16 1811-16 O.D, 17J 18 43-64 Singapore— N.Z. pence to dol. T.T. 34 27-64 35 31-64 O.D. 3415-64 3515-32 T.T. represents Telegraphic Transfer. O.D. represents On Demand.