RESERVE BANK RETURN

Press, Volume XCVII, Issue 28669, 20 August 1958, Page 17

RESERVE BANK RETURN

Sterling Holding Higher According to the latest .return of the Reserve .Bank —for the week ended August 13—holdings of sterling exchange are again slightly higher. They have risen to £33.6 from £32.5 in the previous week. , ... ... Main items from the latest week s return, with the previous week s figures, as as follows: —

N.Z. BUTTER FIRM (New Zealand Press Association) WELLINGTON, August 19. New Zealand butter remained firm at 235 s per cwt. ex store, London when the market opened this week, reports the Dairy Products Marketing Commission. Hungarian and Austrian butters were at about the same price, Australian was 1 per cwt. less, and Polish about 5s less than New Zealand.

The retail price of New Zealand butter in the multiple shops which was 2s 2d per lb when the ex store price was at 206 s during April, May, and June, has moved to 2s 5d per lb. Trade in New Zealand cheese was steady last week. The market was quiet on opening yesterday and New Zealand finest white cheese was at 185 s per cwt, or Is less than last week. Australian first white yesterday was at 180 s and United Kingdom Cheddars were at prices ranging up to 205 s per cwt.

LIVESTOCK EXPORTS TO SINGAPORE

Difficulties Of N.Z. Breeders (N.Z. Press Association —Copy ria tit) SINGAPORE, August 19. Mr Allan T. Hunter, jointmanager of the bloodstock and stud stock division of Wright Stephenson *and Co., Ltd., of Wellington, said today that New Zealand breeders were having difficulty exporting cattle to Singapore because of the lack of suitable shipping services. Australia had an advantage over New Zealand in shipping livestock. New Zealand by sea was 22 days away from Singapore whereas Fremantle was only a week. However, New Zealand breeders were seeking ways of overcoming the shipping problem, Mr Hunter said.

Hume Industries (N.Z.).—Final dividends’ of preference 2£ per cent. (5 per cent, for year), and ordinary 4 per cent. (9 per cent, for year) are payable September 30. ex div. September 17. Trading for the year ended June 30 resulted in a net profit of £59,352, after providing £62,500 for taxation, and £80,522 for depreciation. The above final dividend on ordinary shares is declared on increased capital after the issue of 100.000 £1 shares in February last—(PA.)

Liabilities Aug 6 £000 Aug 13 £000 Bank notes 73,704 73,404 Demand Liabilities — State .• •« 8,173 10,506 Marketing 440 532 Tr. Banks 59,419 59,554 Other 495 466 Assets Reserves— Gold . .. 6,163 6,163 Sterling 'change .. Other changes .. 33,618 714 32,494 735 Investments — Overseas 13,569 13,569 In N.Z 22,808 22,808 Advances— State .. •. 32,101 32,257 Market org. 31,796 33,011 Other Other Assets 8.415 937 10,520 794