THE CARRYING TRADE

Evening Post, Volume CXIX, Issue 78, 2 April 1935, Page 12

THE CARRYING TRADE

INTERESTS AMALGAMATED

An important business merger, involving the New Zealand Express Co., Ltd.. Wellington - branch, and the Colonial Carrying: Company of New Zealand, Ltd., .has been completed. As a result the Wellington business of the New Zealand Express Company will in future be carried on by the Colonial Carrying Company in conjunction with its own business. The New Zealand Express Company, whose headquarters are in Dunedin, with branches throughout the Dominion, has been in business in Wellington for the past fifty-five years. The Colonial Carrying Company, established forty-four years ago, has its headquarters in Wellington. The negotiations, which have been carried out by E. Palliser and Co., are regarded as an example of steps being taken by large business interests to meet changed trading conditions.

POREIGN EXCHANGE RATES

Closing sight rates, as quoted by the Bank of New South Wales, Wellington, for buying and selling foreign currencies, based on New Zealand currency, are aa follows: — ' ■• .: Oh On : demand, demand. April 1. Buying. Selling. New Zealand on £ s. d. £ •. d. London—£N.Z. to £ sts. 100 123 10 0 124 t 6 Australia—£A to £N.Z. 100 101 0 0 100 10 0 Fiji—£F. to £N.Z. 100 90 7 6 89 0 0, New Vork—Dols. to £ '■ N.Z. 1. .., 3.89% 3.84 Montreal—Dols. to £ N.Z. 1 ,......,.. 3.91% 3.87V. France —Francs to £ N.Z. 1. 59.42 .57.87 Nmimea —Franca to £... , ', N.Z. 1 60.47 .57.12 Paiieete —Francs to £ N.Z. 1. 60.47 57.12 Belgium—Belgas to £ N.Z. 1. :.. — 20.4SG Gcrmanv—K'mks. to £ N.Z. 1 '— • 9.406 Italy—Lire to £N.Z. 1. — 46.02 Switzerland—Francs to £N.Z. 1. 12.219 11.754 Holland-r-Floiins to £ ■■N.Z.-I: ••• 5.905 5.609 Java—Florins to £ N.Z., 1. 5.876 5.605 Japan—N.Z. pence to 1 yen : — 1" 23-32 Shanghai—N.Z. pence to 1 dollar 2213-32 23-25-32 India and Ceylon—N.Z. pence to 1 rupee 22»4 22 21-32 Hong Kong—N.Z. pence to 1 dollar 29 17-32 30 21-32 Slngapore^—N.Z. pence to 1 dollar 34 3-16 35 3-10 The above bates are for on demand transactions, excepting the Japanese yen, which is for telegraph transfers. The £1 is £1 in New Zealand currency. The rates are subject to alteration without notice. Based on the above rates of exchange the value of £1 New Zealand currency in other countries is as fellows:— March 30. April 1. £1 N.Z. £ s. d. £ s. d. London .......... 0 18 1 0 16 1 Australia 10 1 10 1 U.S.A 0 15 10U 0 15 9 France .......... 0. 9 4% 0 9 3% Canada. „..».». 0 15 11% 0 15.11 Italy ..«. 0 9 11% 0 9 11% Germany 0 9 3*4 0 9 2V4 .Tara ............ 0 9 Svi 0 9 3 Japan *v.... 17 9 17 9