LAMB FOR HOME MARKET

Press, Volume LXXIII, Issue 22271, 9 December 1937, Page 13

LAMB FOR HOME MARKET

AUSTRALIA’S CHALLENGE TO NEW ZEALAND FINE DISPLAY OF CARCASES AT SMITHFIELD LONDON, December 7. A campaign to combat the supremacy of New Zealand lamb on the British market was begun with the Australian Meat Board’s first Australiawide export lamb competition in conjunction with the Council of the Australian Society of Breeders of British Sheep. The judging is being extended for six months for the all-Australian grand champion, the all-Australian Southdown champion, and the all-Australian champion for other British breeds. An exhibition at Smithfield of 185 carcases was visited by representatives of the Argentine, Canada, the United States, and New Zealand. Mr J. I. Hamilton, the judge, said the competition was an incentive to producers to export lamb which would be suitable for the Home market and which would fill a gap after the New Zealand season. The carcases entered were all neat and compact, being a revelation of what Australia was capable of producing.

Mr C. F. C. McCann, the South Australian Trade Commissioner, said the board was determined to keep pace with New Zealand’s publicity. DISTURBED SILVER MARKET UNITED STATES PRICE FIXATION (UWITr.D PRESS ASSOCIATION—COPYRIGHT.) LONDON, December 7.

Silver is in the midst of one of its periodical upheavals. Heavy selling, mainly on behalf of Indian interests, brought the price down to the lowest level for three years. Sellers apparently fear that the Japanese will seize Chinese silver stocks and throw them on to an unwilling market. Other holders are disposing of the metal owing to the uncertainty of what America will do when the London silver agreement expires at the end of the year.

There is every reason to believe, says the Washington correspondent of the “New York Times,” that hign officials of ihe United States Treasury favour a lower fixation of the domestic price of silver. It is also learned that no move has been made so far to call a conference to extend or revise the present international silver agreement. The domestic price of the metal is among the first matters on which Mr Roosevelt will concentrate for the remainder of the week. FOREIGN EXCHANGES (beit'Sh oehcial wireless.)

ASSOCIATED BANKS* DOLLAR 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.

Paris, fr. to £1 RUGBY, December 7. Par. Dec. 6. Dec. 7. 124.21 147 5-64 147 5-64 New York, dol. to £1 4.866 5.00 3-16 5.00 Montreal, dol. to £1 4.866 4.99a 4.992 Brussels, belgas to £1 35 29.402 29.401 Geneva, fr. to £1 25.2215 21.601 21.601 Amsterdam, fl. to £1 12.107 8.98 8.98 Milan, lire to £1 92.43 94 31-32 95 Berlin, reichmarken to £1 20.43 12.402 12.402 Copenhagen, kr. to £1 18.159 22.40 22.40 Stockholm, kr. to £ 1 18.159 19.401 19.401 Oslo, kr. to £1 18.159 19.90 19.90 Vienna, schgs. to £1 34.585 261 261 Prague, kr. to £1 164.25 1421 142 3-16 Helsingfors, marks to £1 193"3 2261 2261 Madrid, pesetas to £1 25.2215 Lisbon, escudos to £ 1 110 110 3-16 110 3-16 Athens, drach to £1 375 547J 5471 Bucharest. lei to £1 813.60 6771 6771 Belgrade. dinars 276.3 216 216 Rio, de Janeiro pence to milreis 5.90 2 11 16 2.11-16 Buenos Aires, pence to dol. 51 _ Montevideo, pence to peso * 39 13-16 25 3-16 Bombay, pence to rupee 18 18s 18J Shanghai, pence to yen * 14 3-16 14J Hong Kong, pence to yen • 15 15 Yokohama, pence to yen 24.58 14 14 Batavia, guilders 12.107 8.96 8.951 Warsaw, par zlotys to £1 43.38 • Determined by price of silver.

Selling— T.T. .. 4.00 15-16 4.00 11-16 O.D. .. 4.015-16 4.01J Buying— T.T. .. 4,05 5-16 4.03J O.D. .. 4.0’5-16 4.054