Foreign Exchange on New Zealand Currency Basis

Manawatu Times, Volume 60, Issue 84, 10 April 1935, Page 8

Foreign Exchange on New Zealand Currency Basis

The Bank of New South Wales, Wellington, quoted the following rates for their purchases and sales of foreign exchange on April 9:— New Zealand Buying. Selling, on

Rates for Czccho-Slovakia, Denmark, Norway, Sweden and Austria may be had on application. T.T. represents telegraphic transfers, O.D. represents on demand transactions. The above rates are subject to alteration without notice. CONDENSED MILK TRADE. Australia now finds a market for more than half her condensed milk exports in British Malaya, according to a statement issued by the eastern trade section of the Australian Department of Commerce. Of a total of 10,223,215 lb., valued at £574,762, exported from Australia last year, 8,434,7371 b., valued at £296,342, went to British Malaya. This result is due largely to preferential tariffs which originated at Ottawa, and is at the expense of foreign suppliers, mainlyy Dutch, Danish and Japanese. One of the most important companies operating in British Malaya has increased its sales of British supplies from 21.23 per cent, to 92.21 per cent, since Ottawa. Efforts have been made to secure similar preferential concessions in tho Straits Settlements, but these have not been successful. New Zealand exports of condensed milk and cream for 1934 were of the value of £69,169, compared with £35,35G for the year before. LONDON FRUIT PRICES. The Department of Agriculture is advised by the High Commissioner, London, April G, as follows: —Apples: Maimoa shipment of Cox’s Orange and Worcester Pearmains in forward and valuable condition. Other varieties sound. Opawa discharging Monday. The following arc the market values of sound-conditioned fruit of the varieties mentioned, tho range of prices generally representing the difference between the grades and/or counts. Variableconditioned fruit of similar varieties proportionately less in Value: —Cox’s Orange, 14s to 20s, few up to 255; Jonathan, 12s to 14s; Worcester Pearmaiu, 10s to 12s; Gravenstein, 10s to 11s; Dunn’s Favourite and Alfriston, 9s to 10s. TALLOW TRADE. THE AMERICAN DEMAND. Exports of tallow from New Zealand during tho nine months ended March .31 last totalled 13,9325 tons, compared with 14,720$ tons for tho corresponding period ol last year. Daigety and Co., iii commenting on this trade, state that during last- mouth Iho exports were 34241 tons, the following beiug the destinations: —Europe, 909$ tons; 16 tons; Japan, 37 tons; toils; elsewhere, 36J tons; total, 34241 tons. For the first eight months of tho 1934-35 period returns related solely to exports to Europe, viz., 10,5084 tons. BRADFORD TOPS VERY FIRM. LONDON, April 8. Bradford tops quotations for all qualities are very linn.

CHRISTCHURCH STOCK SALES. Per Press Association. CHRISTCHURCH, Last Night. Sales on ’Change of unlisted stocks: Woolworths (Sydney), SSs Gd. Sales on 'Change of listed stocks: Comm. Bank of Aust., 15s 4d (2), 15s Gd; New Zealand Refrigerating (£1 paid), 19s Gd; Timaru Brewery (7s Gd paid, cum. div.), Ss 4d (2); Anthony Hordern, 17s 3d (2); Beatli and Co., 30s Gd (2); Sun Newspapers, 4s 3d, 4s 4d; Big River, 2s ssd (3); Gillespie’s Beach, Is Gd; Maori Gully, Is 4d; Mossy Creek, 2s 7d; Mount LyeYl, 19s 2d; Eawang Tin, 7s Gd. Sales reported: New Zealand Government, 3$ psr cent, inscribed, 1939-43, £lO4 ss; New Zealand Government, 4 per cent, inscribed, 1949, £lO9 15s; Standard Insurance, 71s Gd; Canterbury Frozen Meat (pref.), £G; D.I.C. (pref.), 265; Kildare, 3s 2d (2).

London— £N.Z. to £stg,100 T.T. 121 124/10/Australia— £A. to £N.Z. O.D. 123/10/124/7/0 100 .. .. T.T. 101 100/10/Fiji— £F to £N.Z. O.D. 101 100/10/100 .. .. T.T. 90/7/6 89 New York— dollars to O.D. 90/7/G 89 £N.Z.l . T.T. 3.91i 3.8 7-1 Montreal— dollars to O.D. 3.921 3.S75 £N.Z.l . T.T. 3.92J 3.8SJ France— Francs to O.D. 3.0353.S9y £N.Z.I . T.T. 59.38 5S.28 Noumea— Francs to O.D. 59.SS 5S.33 £N.Z.l , T.T. 60.53 57.53 Papeete— Francs to O.D. 60.93 57.58 £N.Z.l . T.T. 60.53 57.53 Belgium— Belgas to O.D. 60.93 57.5S £N.Z.l . T.T. — 22.636 Germany— Keiclimarks O.D. 22.051 £N.Z.l . T.T. — 9.421 Italy— Lire to O.D. 9.426 £N.Z.l . T.T. — 46.07 Switzerland — Francs to O.D. 40.11 £N.Z.l . T.T. 12.22S .11.828 Holland— Florins to O.D. 12.303 11.S3S £N.Z.l . T.T. 5.893 5.643 Java — Florins to O.D. 5.943 5.647 £N.Z.l . T.T. 5.S59 5.634 Japan— N.Z. Pence O.D. 5.909 5.63S to 1 Y'en T.T. — 17 23/32 Shanghai— N.Z. Pence O.D. to 1 Dol. T.T. 22 13/32 23 23/32 O.D. India and Ceylon— N.Z. Penco 22 9/32 23 21/32 to 1 Eup. T.T. 22 11/32 22 11/16 Hong Ivong— N.Z. Pence O.D. 22 7/32 220 to 1 Dol. T.T. 29130 15/16 Singapore— N.Z. Pence O.D. 29 J 305 to 1 Dol. T.T. 34 5/16 35i O.D. 34 3/16 35 3/16