FOREIGN EXCHANGE

Dominion, Volume 29, Issue 199, 20 May 1936, Page 14

FOREIGN EXCHANGE

On New Zealand Currency Basis DIRECT DOLLAR RATES The Bank of New South Wales, Wellington, quoted the following rates for their purchases and sales of foreign exchange yesterday:—

O.D. represents on demand transactions. 'rhe above rates are subject to alteration without notice. The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates yesterday on a Now Zealand currency basis. They are subject to alteration without notice.

Position of Sterling By Telegraph—Press Assn.—Copyright. London, May IS. 9’ho following moan dosing rales on foreign exchanges were current to-day compared with those ruling on May 16: —

{•par. 8.23 31-32 since dollar devaluation on February 1. 1934. 1 Gold and Silver. London. May 15. Gold. —£7/0/1 per ounce, fine. Silver.—Cash, 20 9-16 d. per ounce; forward, 20 5-Sd.. Rotary Knit-weaves Process The shares of Rotary Knit-Weaves Looms, Ltd., were quoted on the Wellington Stock Exchange yesterday at buyers £B. sellers £l2/10/-. This company has acquired from Mr 11. G. Bedell three inventions for which patents have been applied. Eor ll.e principal, or basic invention, applications for letters patent were applied for in IS countries, 15 of which (including New Zealand and Australia) have so far granted letters patent. Patent protection for the other two inventions, which are improvements or additions to the main principle, arc (on the advice of the company's patent agents) being applied fur only in England. The main invention is for n new principle of fabricating, viz., the production of knitting as well ns a fabric lhat is a “cross" between a knitted fabric and a woven fabric, lienee the name “knit-weave.” The fabric produced by this company's new principle, it is stated, will bo “ladderless,” double-sided, i.e., ns to pattern, and. if required, seamless. 'rhe other two, inventions provide for a single finger in substitution for (he original double finger and for production of a fabric containing n weft thread to pri'vont "sideways” stretch. The directors are Hrs, G. S. Sharp. Featherston. Messrs. C. R. Barrett. Wellington. 11. G. Bedell. Wellington, C. W. Earle. Wellington, and AV. A. Tate, Greytown.

'l’lte company was iticorporaled and about a month ago, before the English patent application was granted. Mr. S. Cotirintilil (of ('oiirlnuld's, Limited), in (he course of a speech in connection with the Industrial Research Movement, said: “Over 2000 years ago the principle of the existing weaving machinery was evolved, and it is remarkable that nobody had discovered a new method of weaving.” The main objects of Rotary Knit-Weave were Io obtain its patents. Io build a commercial unit of the machine in order to demonstrate that the inventor's new principle would fabricalc. and fo exploit the inventions by sales of the rights for t lie various countries.

New Zealand on London — £N.Z. to Istg.100 T.T. O.D. Buying. 124 123/10/Selling. 124/10/124/8/9 Australia — £A to £N.Z. 100 .. . T.T. 101 100/10/. O.D. 101 100/10/Fiji— £F. to £N.Z. 100 ... 'J’.T. 00/7/0 89 O.D. 90/7/0 S9 New York — Doi. to il N.Z. T.T. 4.02} 3.9S? O.D. 4.03} 3.99} Montreal — Doi. to £1 N'.Z. T.T. 4.032 3.99 j O.D. 4.04J 4.00'J Austria — Schillings to £1 N.Z. .. . T.T. 20.72 0.1). — 20.74 Belgiu in— Bel. to £1 N.Z. T.T. 23.47S O.D. — 23.489 Czechoslovakia — Or. to £1 N.Z. T.T. 95.14 O.D. — 95.19 Denmark — Kr. to £1 N.Z. 'I’.T. 1S.203 17.S93 O.D. 1S.203 17.903 France — Fr. to £1 N.Z. T.T. 60.34 O.D. — 60.38 Germany—Mk. to £1 N.Z. 'I’.T. 9.S46 O.D. — 9.S51 Holland —■ Fl. to £1 N.Z. 'I’.T. 5.S57 O.D. — 5.S61 Java— Fl. to £1 N.Z. T.T. 5.S25 O.D. — 5.S29 Norway — Kr. to £1 N.Z. T.T. 16.1 S3 15.893 O.D. 10.243 15.903 Sweden—Kr. to £1 N.Z. T.T. 15.7S2 15.4S7 O.D. 15.S42 15.197 Switzerland— Fr. to £1 N.Z. T.T 12.244 O.D. — 12.249 Noumea— Fr. to £1 N.Z. T.T. 5S.97 O.D. — 59.03 Papeete— Fr. to £1 N.Z. T.T. 59.12 O.D. — 59.18 ITong-Kong— N.Z. <1. to 1 dollar ., T.T. IS 13-16 20 5-16 O.D. IS 23-32 20 9-32 India and Ceylon— N.Z. d. to 1 rupee .. T.T. 22 9-61 22 57-04 O.D. 22 3-04 >•> T Japa n — N.Z. d. to 1 von .... 'I’.T. 17 21-32 0.1). -— 17 41-64 Shanghai— N.Z. d. to 1 dollar . . T.T. 17 3-16 IS 9-16 O.D. 17 IS 35-04 Singapore— N.Z. d. to 1 dollar ... 'I’.T. 31 27-64 35 31-64 O.D. 34 15-04 35 15-32 T.T. represents tele graphic transfers.

I'.S.A. Canada (peril X.Z.) (peril X.Z.) Sellins — dole. dels. T.T. . :;.9S$ 3.993 O.T). . 3.99 J 4.00i Buying—• O.D. . 4.03 J 4.04}

May 18. May 16. Par. N. York. dol. to f~ 4.97 4.965 ji.son Mom real. dol. to £ 4.9 4.97 7-8 4.866 Paris. fr. to £ 75 29-61 75 23-64 121.21 Brussels, bel. to £ ’’9 39 29.31 48.611 Genova, fr. to £ 15.37 15.35 Am st'd a in. 11. to £ 7.35 J 7.3 n 12.107 Berlin, inks, to £ 12.354 12.33 20.43 St’holm, knr. to £ 19.39.1 19.395 IS. 150 C’ ha gen, knr. to £ 22.395 22.395 18.159 Oslo, knr. to £ 19.905 19.9(15 18.159 Vienna, schgs. to £ 26 5fl 26.50 31.585 Prague, knr. tn £ 119.625 119.625 164.25 Hel’fors, inks, to £ 193.23 Madrid, pes. tn £ 36 7-16 36 23-61 ■’5 ■’’*’5 Ids bon. esc. to £ 110.125 110.125 110 .Milan, lire to £ 63.25 63.25 92.16 Athens, draeh. to £ *5”3 • > < ■> Belgrade, din. to £ 218 210 276.31 Bucharest, lei to £ *672 *673 813.60 Kin de J., p. to mil Ml *!} 5.899 B Aires, p. to peso t 1,1 ■. i. > 47.112 M. Video, p. to peso ft'.ot 39 5-16 51 Calcutta. |>. to rup. 1S 1-8. IS 1-8 18 Shanghai, p. to d"l. 14 15-32 11 7-16 «— IL-Kong, p. to dol. 15] 15 25-32 — Y’ltama r> to yen 14 1-32 11 1-32 21.5S2 Batavia, fl. to £ 7.315 7.315 12.107 tSellers. official •Sellers.