VESTEYS LIMITED

Dominion, Volume 18, Issue 60, 5 December 1923, Page 10

VESTEYS LIMITED

SIR PHILLIP PROCTOR ARRIVES NEW CHILLING ARRANGEMENTS Sir Phillip Proctor, who was Direc tor of Meat Supplies in the British Ministry of Food from 1919 to 1921, arrived yesterday from England, via Australia, having taken over tho position of Australian and Now Zealand manager of the Union Cold Storage Company, controlled by Vesteys, Limited. who recently purchased the plant and buildings of tho Poverty Bay Farmers’ Meat Company for £225,000. He left for Christchurch last night. Asked to discuss the meat situation at Home and the prospects of the export of chilled beef from the Dominion. Sir Phillip Proctor said he had not made himself fully acquainted with the developments that had transpired since he left London, six weeks ago.

“An improvement is expected from the new chilling process, andl the arrangements to be made in New Zealand by Sir Phillip Proctor should be closely watched bv Australian meat producers,’’ says the “Sydney Morning Herald” of November 30. BANK OF ENGLAND RETURN Anstralian-New Zealand Cable Association London, November 29. The Bank of Emrland return for the week ended November 28 affords the following comitarison:— ISST’V DKPtnTMFNT. Notes issued £125.016.009 Gov. debt ... £11,015,100 Other securiNotes in ties R-724 -900 reserve 20.677.000 Gold 125.943.000 £145,693.000 £145.693 000 Baneixg Department. Proprietors’ Goy. secl 'ricapital ... £14.f53.000 tie5£43.3:4.000 Public de- Othcrsecuriposits 21.132.000 ties 72,797,000 Other de- „ , . posits ... 99.757.000 . Notes in Rest. 7-day reserve ... 20,677.000 and other Coin in bills - 3.22-3.000 reserve — 1.826.000 £138.674 000 £138.674.000 The leading items ot the Bank of England return afford the following comparison:— , _ , This week. Last week. Last year. £ ■? £ Bullion ... -125.943.00 G 125.941.0nn 125.618.nn0 Pffcrve 22.503.000 t 23.647.000 23.006.000 Note Circulation 125.016.n00 123.R69.0f10 122.885.000 Public Deposits.. 21.132.000 17.236000 17.0-0.000 Other Deposits ••• G 9.767.000 106.232-000 104.40j.000 Proportion of reserves to liabilities ... 18’60 19-15 xB.9< GOVERNMENT SECURITIES. Following ai’s latest quotations for Imperial and Colonial Government securities.

MONEY MARKET. The Bank of England discount rate is 4 per cent., having been raised on July 5 from 3 ner cent., at which, it had stood since July 13. 1922, when it was reduced from 34 per cent. OPEN MARKET RATE. The onen market rate for three months’ bills is nominally 3J per cent., aa compared with 38 per cent, last week and 2 1-16 per cent, last year. Short loans are quoted at 24 per cent„ against 24 per cent, last week, and 14 per cent last year. BANK RATE ON DRAFTS REDUCED. Aus.-N.Z. Cable Assn. (Rec. December 4, 7.45 P’m.) London, December 3. The associated Australian banks on December 14 will reduce tte buying rate of drafts on Australia and New Zealand by ss. per .pent-

Stock This Week Last Week. 24% Imperial Consols 34.. w ar Loan 5 „ War Loan 1929-47 34.. Conversion Loan 0 Aus.-Commonwealth 51 Aus-Commonwealth 4 „ N.S.W. 1933 Jan.-July 3 „ N.S.W. 1925 Apl.-Oct. 34.. N.S.W. 1930-59 Ja.-Jlv. 5} N.S W1922-32 May-No. fl N.S.W. 1922-32 May-N 64 „ N.S.W. 1930-40 Fe-Au. 31.. Vic. 1921-6 Jan.-July 34.. Vic. 1929-49 Apl.-Oct. 3 . Vic. 1929-49 Jan.-July 5.1.. Vic. 1930-40 Jan.-July 34.. S.A. 1939 Jan.-July 31.. S.A. 1916 Jan-July 6} ., S.A. 1930-40. Feb-Aug. 4 ., Q’l'd. 1924 Jan.-July 3 ,. Q'ld 1924 Jan.-July 34.. OTd. 1930 3 ., QTd. 1922-47 Jan.-Jly. 6 ., QTd 1930’40, Feb-Aug. 4 ., N.Z. 1929 May-Nov. 34 „ N.Z. 1940 Jan - July 3 .. N.Z. 1945 April-Oct. 6 „ N.Z. 1930-51. Feb.-Aug. 3J„ W.A. 1920-35 My. -Nov. 3 ., W.A. 1915-35 My .-Nov. 6 ., W.A. 1930-40. Jan.-July 34.. Tas. 1920-40 Jan.-July 3 „ Tas. 1920-40 Jan.-July 64.. Tas. 1930-40 Feb.-Aug. £ a. d 57 10 0 96 0 0 100 10 0 77 10 0 105 2 6 100 10 0 91 5 0 SI 2 6 7G 15 0 100 10 0 107 10 0 103 10 0 98 5 0. 78 15 0 72 17 fl 102 0 0 83 10 0 63 0 0 107 5 0 99 10 0 98 17 6 89 0 0 70 0 0 104 10 0 94 17 6 84 10 0 75 7 6 110 5 0 85 5 0 SI 17 6 105 10 0 83 7 6 79 0 0 108 .5 0 £ s. d. 57 10 0 95 17 6 100 10 0 77 10 0 105 0 0 100 7 6 91 0 0 81 7 6 76 5 0 100 5 0 107 0 0 103 7 fl98 0 0 78 10 0 72 10 0 101 0 0 83 10 0 62 15 0 107 5 0 99 12 6 98 15 0 88 !5 0 70 0 0 104 0 0 94 17 6 64 5 0 75 5 0 109 6 0 85 0 0 81 10 0 105 0 0 84 0 0 79 0 0 108 0 0