Exchange Rates

Press, Volume CIII, Issue 30630, 22 December 1964, Page 21

Exchange Rates

Intervention by the Bank of England was necessary to stop the pound sliding against the United States dollar and foreign currencies on Friday. Only the Canadian dollar continues to improve its position. Altered telegraphic transfer exchange rates advised yesterday by the Bank of New South Wales. N.Z. on— Austria: buying, 72.31 schillings (compared with 72.37 schillings on December 14); selling, 70.86 schillings (same). Belgium: 139.20 francs (139.10): 136.26 francs (same). Canada: 2.9928 dollars (2.9545); 2.9545 dollars (2.9574). Denmark: 19.38 kroner (19.37); 18.96 kroner (same). Japan: 1004 yen (1005); 982 yen (983). Sweden- 14.41 kroner (14.42); 14 11 kroner (same).

Western Germany: 11.14 D. Marke (same); 10.90 D. Marke (10.91).

N.S. Trans. In Merger Move

(N.Z. Press Association)

AUCKLAND. Dec. 21

Shareholders of North Shore Transport Company, Ltd., and Johnston’s Blue Motors, Ltd., have overwhelmingly approved the proposal of their directors to merge into a new company, Auckland Transport Holdings, Ltd., also taking in the city garage business of Henleys Engineering Company, Ltd. Directors of the two companies believe that Auckland Transport holdings will have “no difficulty” in paying a dividend of at least 6 per cent.

N.Z. Ins. Shares Declassified

(N.Z. Press Association)

WELLINGTON, Dec. 21

New Zealand Insurance Company, Ltd., Auckland, is to abolish the distinction between its old, B and C shares and bring them into line as ordinary shares. This move follows the passing of the Land and Income Tax Amendment Act, 11964.