STEADY PRICES EXPECTED

Press, Volume LXXIV, Issue 22304, 19 January 1938, Page 11

STEADY PRICES EXPECTED

AUCKLAND WOOL SALE GOOD QUALITY OFFERING XTHE PRESS Special Service.] AUCKLAND, January 18! Although brokers are unwilling to comment on the likely range of prices the general opinion is that values at least on a par with those at the first auction will rule at the second Auckland wool sale to be held on Monday. The wool in the stores is now ready for insnection. and buyers will arrive in Auckland on Friday after attending the Wanganui fixture. There is a total offering of 30.000 bales. The catalogue closed early in December, which is an unusually long period before the actual sale. Wool has been steadily arriving at the Parnell stores ever since, and it is estimated that between 16,000 and 17.000 bales arc already available for the final Auckland auction in March, for which no limit has been fixed. Brokers are now engaged in classing and binning wool for the March fixture, and that for the coming sale has been ready for some time. This will obviate the usual last-minute rush, and buyers should have ample time to make their appraisements. The catalogue contains a large proportion of early-shorn wool, as about 10.000 bales were held over from the first Auckland sale in November. The later-shorn wool is naturally heavier, and although the general quality of the clip is good, there are few super lines. There is a marked shortage of lambs’ wool, mainly because the bulk of the lambs were taken from the ewes early and sent to the freezing works. This is unfortunate, as lambs’ wool generally brings good prices at the January sales, "It is to be hoped that growers now realise that prices are on a considerably lower basis than last season, and will therefore be willing to moot, the market.” said Mr B, J. Marquet. chairman of the Auckland Woolbrokers’ Association. “They cannot, hope for much better values than they are getting now."

BANK OF NEW SOUTH WALES The Bank of New South Wales quoted the following exchange rates yesterday;— Buying. Selling. N.Z. on London — £N.Z. to £IOO stg. T.T. 124 124/10/O.D. 123/10/- 124/8/9 £A to £IOO N.Z. T.T, 101 100/10/O.D. 101 Fiji—£F to £IOO N.Z. T.T. 90/7/6 89 O.D. 90/7/6 89 New York— Dol. to £1 N.Z. T.T. 4.0382 4.0036 O.D. 4.0482 4.0076 Montreal— Dol. to JCI N.Z. T.T. 4.0370 4.0046 O.D. 4.0490 4.0086 Austria— Schgs. to £1 N.Z. T.T. O.D. Belgium— Belgas to £1 N.Z. T.T. 23.943 23.633 O.D. 24.018 23.644 Czechoslovak la— Crns. to £1 N.Z. T.T. O.D. Denmark— Kroner to £1 N.Z. T.T. 18.203 17.893 O.D. 18.263 17.899 Fiance — Francs to £1 N.Z. T.T. 120.26 117.76 O.D. 120.26 117.80 Germany— Reichmarks to. £1 N.Z. T.T. O.D. Holland — Florins to £1 N.Z. T.T. 7,311 7.161 O.D. 7.351 7.165 Italy— Lire to £1 N.Z. T.T. O.D. Java— Florins to £1 N.Z. T.T. 7.287 7.137 O.D. 7.327 7.141 Norway— Kroner to £1 N.Z. T.T. 16.182 15.892 O.D. 16.242 15.898 Sweden — Kronor to £1 N.Z. T.T. 15.788 15.493 O.D. 15.846 15.499 Switzerland — Francs to £IN.Z. T.T. 17.559 17.289 O.D. 17.664 17.294 Noumea— Francs to £1 N.Z. T.T. 121.51 116.51 O.D. 121.51 116.55 Papeete— Francs to £IN.Z. T.T. 121.36 116.56 O.D. 121.36 116.60 Hong Kong— N.Z. pence to dol. T.T. 18 29-64 18 53-64 O.D. 18 27-64 18 53-64 India and Ceylon— N.Z. pence to rup. T.T. 228 22 21-32 O.D. 22 11-32 22 21-32 Japan— N.Z. pence to yen T.T. O.D. Shanghai— N.Z. pence to dol. T.T. O.D. Singapore— N.Z. pence to dol. T.T. 34 23-32 35 13-64 O.D. 348 35 13-64 Chefoo— N.Z. pence to dol. T.T. O.D. Manila — N.Z. pence to peso T.T. 29 37-64 30 5-64 O.D. 29 31-64 30 5-64 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. Selling— • T.T. .. .. 4.004 4.00J O.D. .. .. 4.00 15-16 4.01 Buying— T.T. .. .. 4.03 15-16 4,03| O.D. .. .. 4.04 15-16 4.05 NEW YORK TIN NEW YORK. January 17. Tin is quoted at 42.37 cents per lb.

FOREIGN EXCHANGES (BRITISH OFFICIAL WIRELESS.) Pari?, fr. to £1 RUGBY. January 17. Par. Jan. 15. Jan. 17. 124.21 1491 147 13-16 New York, dol. to £1 4.866 4.99 11-16 4.99J Montreal. dol. to £1 4.866 4.992 4.998 Brussels, bclgas to £1 35 29.54i 29.55 Geneva, fr. to £ 1 23.2215 21.622 21.63J Amsterdam. fl. to £1. 12.107 8.978 8.971 Milan, lire to £1 92.43 94J 943 Berlin, reichmavken to £1 20.43 12.41 12.40 Copsnhagen, kr. to £1 18.159 22.40 22.40 Stockholm, , kr. to £1 18.159 19.49 19.40 Oslo. kr. to £1 18.159 19,90 19.90 Vienna, schgs. to £1 34.585 26i 2R* Prague, kr. to £1 164.25 H2J 142j Helsingfors, marks to £ 1 193.23 226 J 226i Madrid, pesetas to £1 25.2215 Lisbon, escudos to £ 1 no 110 3-16 1)03-16 Athens drach to £1 375 547J 5471 Bucharest, lei to £1 813.60 677J 677 J Belgrade, dinars 376.3 216 216 Rio de Janeiro, pence to mllreis 5.90 2 13-16 Buenos Aires, pence to dol. 51 Montevideo, pence to peso * 243 21J Bombay, pence to rupee >8 161 181 Shanghai, pence to yen * 14 3-16 14 3-16 Hong Kong, pence to .yen * 13 15 Yokohama, pence to yen 24.38 14 14 Batavia. guilders 12.107 8.961 8.951 Warsaw, par zlotys to £1 43.36 •Determined by price of silver.