RESTRICTIONS LIFTED

Press, Volume XCIX, Issue 29388, 15 December 1960, Page 21

RESTRICTIONS LIFTED

"The Press" Special Service HAMILTON, December 14. The restrictions imposed on the Waikato Savings Bank when it was formed have now been removed, said the president, Mr R. Braithwaite, yesterday. The bank was now on a par with other savings banks in the Dominion. As a result, 45 per cent, of its funds were now available for local investments. The removal of the restrictions had enabled the bank to open a mortgage department for the financing of new homes and other first mortgage Securities. COLOMBO TEA SALES (N.Z. Press Association—Copyright) COLOMBO, December 12. Offerings of 7.3 m lb met strong general demand Quality was Inferior and high grown brokens from both western and Uva districts were irregularly lower following quality. Medium brokens declined by five to 10 cents on quality and low grown teas were about three to five cents lower Prices were:— High grown broken orange pekoe 165 cents per lb; good medium 8.0. P., 220; medium liquoring 8.0. P., 225; medium liquoring broken pekoe. 178; medium liquoring pekoe fannings, 228; medium liquoring orange pekoe, 220; low medium 8.0. P., 200; low medium pekoe fans., 208: low medium orange pekoe, 214: low medium pekoe. 209: medium pekoe. 215; good pekoe. 290. Unit Trust Quotes.— Quotations for New Zealand Income Trust (as at December 12) and for Investors Unit Trust (December 13) are Id higher. The latest quotations are: New Zealand Income: buy 4s lOd, sell 5s 2d; Investors Unit: 4s 7d. 4s lid. Quotations for Ist New Zealand Unit Trust are steady at 4s 8d and 5s respectively.