LONDON HIDES MARKET EFFECT ON LEATHER PRICES PRICE OF COLD STERLING AND DOLLAR DOLLAR RATES FOREIGN EXCHANGE RATES THE FRENCH FRANC WAITAKI FARMERS' FREEZING CO.

Evening Post, Volume CXX, Issue 134, 3 December 1935, Page 14

LONDON HIDES MARKET

EFFECT ON LEATHER PRICES

PRICE OF COLD

STERLING AND DOLLAR

DOLLAR RATES

FOREIGN EXCHANGE RATES

THE FRENCH FRANC

WAITAKI FARMERS' FREEZING CO.

Wcddcl and Co., London, October 31, write:—Some trading has taken place in the hide market during the week, but the market on the whole has been most disappointing. The demand is very slow and except for a few North American shippers little or no interest is displayed elsewhere. European buyers are particularly disinterested, the excuse being that most tanners have bought sufficient hides to cover themselves for some time. This is to some extent true, but on the other hand before the recent buying move all tanners were fairly short of raw material. In our opinion the present cessation of buying has been caused by a lull in the international political situation. The tension has relaxed, and buyers now feel that they can take their time. The American trade is now buying on account of the real improvement in the economical situation in the United States, and this is likely to continue. Trade is idle in colonial and miscellaneous descriptions, consequently shippers have become rather more anxious to sell and prices are being reduced. New Zealand freezer cow hides could probably be bought at 5:,-d. Leather is finding a fairly good market iri all countries, especially heavy sole leather. The slight uneasiness displayed in the raw hide market might influence the sale of leather if it continues, so it is to be hoped that tanners will prevent this. The latter have the remedy by taking more hides thus preventing a setback in the hide market.

.'iiy Telegraph-I'ress Assn.—Copyrialit.i (Received December 3, 10 a.m) LONDON, December' 2. Price of fine gold per ounce, 141s.

{By Telegraph—Press Assn.—Copyright.) (Received December 3, 10 a.m.) • LONDON, December 2. bterhng exchange, London on New York, 4.93 dollars.

The Associated (other than <he Bank of New South Wales) quoted the following dollar rates today, on a New Zealand currency basis. They are subject to alteration without notice:—

The above rate? are tor on denmici transactions. The £1 is £1 in New Zealand currency. The rates are subject to alteration without notice.

Based on the figures quoted by the Bank of • New South Wales the New Zealand pound, compared with its original par value, is equivalent to approximately:—

£ s.- d. 0 16 .1 In London. 1 0 J in Australia. 0 16 2% in U.S.A. 0 16' S»A 'in Canada. 0 9 0?i In France. 0 '9 5Vi in Germany. .0 9- o',i In Java. 1 T. 11 in .Lilian.

(By Telegraph .-Press Assn.-Copyrijjht.l (Received December 3, 10 a.m.) LONDON, December 2. Sterling exchange on Paris, 74 7-8 francs to £1. The rate on November 30 was the same.

, The annual report of the Waitaki Farmers' Freezing Company, Ltd.. states-that the stock dealt with during the last three seasons is as follows:— 1933. 1934. 1935. Sheep .. 43,836 28,305 53,229 Lambs .. 344,583 339,021 326,069 380,419 367,326 379,298

After providing £5811 18s Id for depreciation and £2500 for income tax, the profit and loss account shows a surplus o£ £5236 10s 6d. To this has to be added £1319 0s 6d brought forward 'from last year, making a total available of £6555 11s. which the directors recommend shall be appropriated as follows:—To pay a 5 per cent, dividend £4763 lls Id. to carry forward £1791 10s lid—£6sss lls. Net profit last year was £5767, after writing oft £4823 depreciation. Dividend was 5 per cent.

Per oz. November 30 141 oj November 1 141 7" October 1 1 41 7 j September 3 140 3 A.ugust.1 140 91 •July 1 141 ii June 1 149 0 May 1 145 0 April I 145 8i March 6 (record^ .. 149 4 March 1 145 1 Februuay 1 142 4 January 1 140 10J

at , Dollars November 30 4 931-16 November 29 4.93 g_i(j November 1 4 9H October 1 4.9015-18 September 2 ........ 4.95 15-16 August I 4.9511-16 ■J uly 1 4.94 7-16 June 1 4.92 1-8 May 1 4.83 3-8 April 30 4.83i March 1 4.83~13-16 January 1 4.94 3.16

U.S.A. Canada, (per £1 (per £1 N.Z.) N.Z.) Dols. Dols. Selling— T.T On demand Buying— On demand , 3.94;1 4.00 . 3.95J 4.00J . 3.99:{ 4MI

Closing sight rates as quoted by the BaiiK of New South Wales, Wellington, today, for buying and selling foreign currencies based' on New Zealand currrency, are as follows:— Ou. On I dcmanil. demand. '■„ ., , , Buying. Selling. New Zealand on £ 3. d. £ s. d. London—£N.Z. to £ ' ■ stg. 100 ■ 123 10 0 124 8 9 Australia—£4 to £i\".Z. .100 ...101 1) 0 100 10 0 Fiji—£F to SN.5V. 100 . 90 1 G 83 0 0 New York—Dollars to £N.Z. 1. 3.03% 3.03% Montreal—Dollars to £ N.Z. 1 -1.01V4 ■l.00'/ 1 Austria—Schillings to £ N.Z. 1 — 20.00 Belgium—Belgas to £ N.Z.I."; .— 23 13S Czeclioslnraltla—Crowns . to £N.Z. 1. — 93.31 Denmark—Kroner to £ N.Z. 1 1S.21S 17.938 Franco—Francs to £ ■ ■ .. N.Z. 1 61.01 59.49 . Germany—Reiehmarks to £N.Z. 1 — 9.0-13 Holland—Florins to £ ■ • - . N.Z.I fl.0.10 "" '- 3.731 Java—Florins to £ N.Z. .1 5.983 S.714 Norway—Kroner to £ N.Z. 1. 10.210 15.930 Sweden—Kronor to £ N.Z. I. 15.S0U 15.520 Switzerland—Francs lo £N.Z. 1 12.5S7 12.072 Noumea—Franca to £ ' • N.Z. 1. C2.00 5S.71 Paneete—Francs to £ N-Z. 1 02.00 38.74 Hong Rouk—N.Z. penco - to 1 dollar 21 7-1G "2 23-3' 1 lluilla and . Ceylon—N.Z. ;. . pence to 1 rupee .... 22'4 22 21-32 la|i:tn — NZ Dcnce to 1 yen — 17 30-01 Siianphni—N.Z pence to 1 dollar : 17% • IS 51-01 SlnEapore—N.Z. pence to 1 dollar 34% 35V*