RESERVES OF STERLING

Press, Volume C, Issue 29712, 4 January 1962, Page 14

RESERVES OF STERLING

£B5 Million Fall In December (N.Z.P.A.-Reuter —Copyright) LONDON, Jan. 2. The sterling area’s gold and convertible currency reserves fell by £B5 million to £1,185 million in December, 1961, the Treasury announced today. During the month, Britain made loan service payments totalling £67 million to the United States and Canadian Governments, the Treasury said. The December fall compared with a gain of £9 million in November and a rise of £23 million in December, 1960.

The reserves showed a net rise last year of £3l million but the 1961 figures were helped by a £535 million credit received from the International Monetary Fund midway through the year. Of this, £l5O million had since been repaid.

Woolworths Allot 960,788 Shares Woolworths, Ltd., have announced that 960.788 ordinary shares of 5s each have been allotted at a substantial premium in connexion with the acquisition of certain properties of Rockmans, Ltd. In addition 85,900 ordinary shares of 5s have also been allotted at a substantial premium in connexion with the acquisition of a freehold property at Shepparton, Victoria. Both of these allotments rank pari passu with the existing paid up ordinary capital of the company.

LONDON METALS MARKET

(N ZJ-A.-Reuter—Copyright) LONDON, January 2. Latest London metal prices are:— Buyers Sellers a ton a ton

£ s. d. £ s d. CopperSpot . 228 10 0 228 15 0 Tin— Spot . Lead— 946 0 0 947 0 0 Spot . Zinc— 60 12 6 60 15 0 Spot 71 10 0 71 12 6