FOREIGN EXCHANGES

Evening Post, Volume CXXVIII, Issue 104, 30 October 1939, Page 10

FOREIGN EXCHANGES

(By felegraph—Presa Association—Conviigiit.i (Received October 30, 9.30 a.nw>

LONDON, October 28. Today's closing rates for foreign exchanges in relation .to sterling compare with those previously cabled as follows:— , Par. Oct 27. Oct. 28. New Xork— Dols. to £.. 4.8G6 4.03 4.03 i Paris— Francs to £ . 124.21 176!/ 3 176'^ Amsterdam — Florins to £ 12.107 7.55 (.55 Borne— Lire to £ ... 92 75.75 78.70 Brussels — Belg. to £ , 48.611 24.00 24.00 Stockholm — . ■ ■ Kr. to £ .. 24.43 16.80 16.80 Copenhagen— ' Kr. to £ .. 18.150 21.00 21.00 Bone Kong— ' d. to'doi. .. — 14 63-64 14 63-64 r- 413-1G ■"• 413-16 The price. of gold is, unchanged ,at 1683 an ounce. , ■ . ■ ,

LOSS ON PICTURE BUSINESS

The accounts of the Dominion Picture Theatres Company, Limited, Auckland, for the year ended September 30, show a loss of £417, com-pared-with net profits of £214 in the previous year and £1815 in 1937. After deducting the loss there is £1869 at the credit of the profit and loss account. The directors recommend payment of one and a half year's dividend on preference shares of 6 # per cent. No recommendation is made for the ordinary shares, on which 4Jd per share was paid last year. The preference payment absorbs £332, leaving £1536 to be carried forward. The directors state it to be their considered opinion that no dividend should be paid on the ordinary shares until the company's indebtedness is substantially reduced. An application for relief from existing graduated rates of land tax was unsuccessful and the liability in this connection was £945 a year. Modernising of theatre and shops had cost considerably more than estimated.