FOREIGN EXCHANGE RATES

Evening Post, Volume CXXVI, Issue 58, 6 September 1938, Page 14

FOREIGN EXCHANGE RATES

Closing direct rates as quoted by the Bank of New South Wales, Wellington, today, for buying and selling foreign currencies, based on New Zealand currency, were as follows:— Buying. Selling. £ s. d. £ s. d. London—£N.Z. to £ stg. 100 T.T. 124 0 0 124 10 0 O.D. 123 11 3 124 9 6 Australia—,£A to £N.Z. 100 T.T. 100 17 6 100 5 0 O.D. 100 17 6 100 5 0 Fiji—£P to £N.Z. 100 T.T. 90 7 6 89 0 0 O.D. 90 7 6 89 0 0 New York—Dollars to £ N.Z. 1 T.T. 3.9010 3.8670 O.D. 3.9060 3.8680 Montreal—Dollars to £ N.Z. 1 T.T. 3.909S 3.8773 O.D. 3.9185 3.8783 Belgium—Belgas to £ N.Z. 1 T.T. 23.114 22.804 O.D. 23.189 22.809 Czechoslovakia—Korunas to £N.Z. 1. .. T.T. — 111.25 O.D. — 111.27 Denmark —Kroner to £ N.Z. 1 T.T. 18.203 17.893 O.D. 18.2(53 17.895 Finland—Marks to £ ■ N.Z. 1 T.T. 185.39 179.59 O.D. 185.79 179.69 France —Francs to £ N.Z. 1 T.T. 144.76 142.2G O.D. — 142.28 Germany—Reichsmarks to £X.Z. 1 T.T. — 9.598 O.D. — 9.600 Greece —Drachmae to £ X Z 1 T.T. — 429.54 O.D. — 429.64 Holland —Florins to £ KZ, 1 T.T. 7.274 7.124 O.D. 7.314 7.126 Italy—Lire to £X.Z. 1. T.T. — 73.50 O.D. — 73.52 Java—Florins to £N.Z. 1 T.T. 7.247 7.097 O.D. 7.287 7.099 Norway—Kroner to £ XZ. 1 T.T. 16.152 15.892 O.D. 16.242 15.895 Noumea—Francs to £ KZ 1 T.T. 147.26 140.51 O.D. — 140.55 Papeete^-Franca to » ' O.D. — 140.70 | Sweden-Kronor to £ O.D. 15.844 15.492 Switzerland — Francs to ,- n n £VZ i T.T. 17.281 17.011 fc* O.D. 17.386 17.013 Chefoo—N.Z. pence to 1 dollar T.T. — 115-8 OD. —■ 11 5-8 Japan-N.Z. pence to 1 ir 33-64 i'en on! _ 17 33-64 MS~ N- Z' 30 5-32 30 13-16 peso O.D. 30 1-16 30 13-16 Shanghai-N.Z. pence to 1 dollar O.D/— 115-16 Si lEd PonaV N- Z" PenCT.T° 34 31-64 34 31-32 1 dollar o.d! 34 25-64 34 31-32 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 16s Id in London, £1 0s OJd in Australia, 15s 103 din U.S.A., 15s Hid in Canada, £1 2s lid in France! 15s IOJd in Italy, 9s 4Jd in Germany, Us 83d in Java, £1 8s o*d in Japan. DIVIDENDS DUE. Waitahu Dredge—2d (3 1-3 per cent.) ••;•• Sept. J Nemona Dredge—ld per share (No. 12} Sept. x£ Adelaide Steamship Co. —final 4 per cent., making 7 per cent. Per annum Se^t. 13 Huddart, Parker—interim, pref. 3 per cent., ord. 6 per cent Sept. 15 Apes Investment, Masterton —halfyearly at 5 per cent, per annum Sept. lv Broken Hill South-—quarterly, Cd per share * Sept. 15 Electrolytic, Zinc—half-yearly, 9 per cent, or 15 per cent, per annum on both ord. and pref Sept. 16 Hackshalls, Sydney—interim 6d per share Sept. 17 Australian Foundation Investment Trust —6 per cent, per annum . Sept. 19 N.Z. Drug—interim, half-year, 3V 2 per cent Sept. 20 North Broken Hill—final, 6d per share, equal to 60 per cent, per annum Sept. 2S Dunlop-Perdriau Rubber — final, pref. 5 per cent., ord. 3% per cent Sept. 30 Bank of Australasia —interim 3s 6d sterling per share, at the rate of 7 per cent, per annum Sept. 30 British Tobacco —interim, 2 per cent. Sept. 30 United Provisions —ord. 3 per cent., pref., final half-year, 4 per cent. Sept. 30 Joseph Nathan and Co., Ltd., —half- ' yearly at 8 per cent, per annum, on preferred ord Oct. 1 Howard Smith —quarterly pref. at 6 per cent, per annum Oct. 6 An important branch of United Kingdom trade and one which shows remarkable expansion is the manufacture of drugs and patent medicines. Recent reports show, that the trading profit of one of the leading United Kingdom manufacturing chemists, with interests in various subsidiary companies, increased from £541,000 in 1936-37 to over £600,000 in 1937-38, and ion one category of its shares its divi--1 dend was as much as 85 per cent.,' compared with 60 per cent, in the pre-1 vious year. The net profits of another firm of manufacturing chemists, owning retail stores in all the principal towns of the United Kingdom, were over £750,000 in the year ended March 31, IUU.