BUTTER MARKET ACTIVE

New Zealand Herald, Volume LXX, Issue 21553, 26 July 1933, Page 5

BUTTER MARKET ACTIVE

NEW ZEALAND AT 81s CHEESE ALSO IMPROVES After firming to 80s per cwt. during last week-end, Now Zealand finest butter has advancod another Is and is now selling up to 81s por cwt. on tho London market. According to advice under da to July 24, the market is active and advancing. A firm market for butter is usual at tho present time of tho year, when the peak of tho Northern Hemisphere production has been passed and supplies from the Southern Heniisphoro are diminishing. It is expected higher prices will bo reached beforo the end of July. Stored stocks of New Zealand butter aro still heavy, 9700 tons boing in store in London at tho end of last week, compared with 3300 tons at tho same timo last year. Prices for cheese arc unchanged but it is reported that tho market has an upward tendency. Merchants have received the following cablegrams from their London houses, dated July 24: — Mr. H. S. Withers, from Mr. A. C. Rowson. —Butter: Tho market is advancing and active, now 81s per cwt. Choose: Tho market is firm with an upward tendency.' White, 495; coloured, 525. Dalgoty and Company, Limited, from Samuel Pago and Son, Limited.—Butter: Prices aro 2s per cwt. higher; New Zealand finest salted now 79s to Sis per cwt. Joseph Nathan and Company, Limited, from Trengrouso and Nathan, Limited.—Butter: 80s to 81s. Tho market is firm. Cheese: White, 48s Gd; coloured, 51s. ZINC CORPORATION " POSITION IMPROVED " Profits of the Zinc Corporation, Limited, London and Melbourne, for 1932 wero £13,003 lower at £94,838. After tho payment of £71,609 in dividends and the appropriation of £70,000 for mine development and new plant, £46,479 remained to bo carried forward, compared ■ with £93,250 brought into tho accounts. Tho latter figuro included £36,363 brought forward and £56,887 of the appropriation for mino development unexpended. At the annual meeting in London, Sir Robert Home, ' chairman of directors, said tho company's position had improved distinctly. Development would absorb £60,000, and now plant £90,000 during tho coming two years. It was hoped to increase ore production to 50,000 tons monthly. BRADFORD TOPS STEADINESS OF MARKET LONDON, July 24 The Bradford tops market is steady. Business is quiet

FOREIGN EXCHANGES RECOVERY OF DOLLAR "British Wireless RUGBY, July 21 Tho following rates on foreign exchanges arc current, compared with the cabled quotations on July 22 and par:— July 2-1 July 22 Par Montreal, dol. .. 4.88 4.915 4.86G New York, tlol. . 4.(j.'Jo 4.G85 4 Hljli Paris, fr. .. 85 21-32 85 10-.'J2 124.21 Brusselrt, belga . 24.025 23.975 35.00 Geneva, fr. .. 17.33 17.,", X 25.22 Amsterdam, fl. .. 8.305 8.25 12.10 Milan, lire .. 03 9-1(5 03! 92.4G Berlin, r.m. .. 14.045 14.025 20.43 Stockholm, kr. .. 19.375 19.375 18.159 Copenhagen, kr. . 22.40 22.40 18.159 Oslo, kr. . 19.90 19.90 18.159 Vienna, sell. .. 30t 30t 34.585 Prague, kr. .. 1131 113.50 104.25 Helsingfors. mark 22G.50 22G.50 129.23 Madrid, pes. .. 40, 40 1-1G 25.221 Lisbon, encu. .. 110 110 110 Athens, dr. .. 587.50 587.50 375.00 Bucharest, lei. .. 5G5 505 ■ 813.0 Riode Janeiro, mil. 4id 401 d 5.899 d Buenos Aires, tlol. 42d 42d 47.fi19d Montevideo, dol. 34d + 34dt 51 rl Bombay, rupee . 18 5-G4d 18 5 G4d 18d Shanghai, dol. .. 15 3-1 (id 11 13-lGd Hongkong. dol. . 17 5-lGd 1G.75d Yokohama, yen . 14 15-IGtI 14 15-lCd 24.58 d Batnvia. fl. .. 8.33 8.33 12.10 Belgrade, din. ..245 {Nominal. NEW ZEALAND MONEY ABROAD Current dollar exchanges, as quoted by the New/ Zealand banks, aro as under, compared with previous quotations:— Buying Selling United States . . . . 4.75 4.55 Canada 4.98 4.78 The cost in New Zealand'currency of the pound sterling and of the principal foreign units, on the latest quotations, is as follows: Frcucnt Price Par s el s d London, pound .. . . 24 11.58 90 0.00 Australia, pound . . . 20 0.00 20 0.00 New York, dollar . . G 5.8(5 4 1.31 Montreal, dollar . ..5 2.G9. 4 1.31 Paris, franc . . . . 0 3.50 0 1.98 Berlin mark . . . . 1 9.34 0 Copenhagen, krone . . 1 1.38 1 1.21. Yokohamu, yen 1 <5.(55 - O.oS These valuations represent the current rates at which banks sell dralts payable on demand. CUSTOMS EXCHANGE RATES Rates of exchange ruling at the announced dates of departure of the vessels named arc shown in the following table. Thnv are subject to confirmation by the Customs Department when the exact time of departure is learned on arrival of the vessels in New Zealand, finally declared rates being marked*: Canadian Constructor, Canada, dol. 4.51 Golden Co;ist, America, dollars . . 4.81 Brisbane Mnru, Japan, yen . . . 15 !.32d Waikiiwa, America, dollars . . . . 4.791 Piako, America, dollars .. Canadian Highlander, Canada, dol. 4.GG TALLOW DEMAND GOOD FINAL FRUIT ARRIVALS The Department of Agriculture has received the following cablegram, dated July 22, from the High Commissioner for New Zealand, London: — Tallow. —The demand is good at auction. Of 795 casks offered 41(3 were sold. Present spot quotations are: Mutton, lino, 255; fair to good, 21s to 245; dark to dull, 19s (3d to 20s Gd. liecf, sweet and/or mixed, 22s (3d to 23s (3d; fair to good, 20s 0d to 225; dark to dull, 18s Od to 20s. Mixed, fair to Rood, 20s Gd to 225; dark to dull, IBs (3d to 20s. Gut, etc., 17s Gd to 20s. Hemp.—ln Manila thoro is a fair demand at slightly better prices. "K" grade for August-October shipment sold at £l6 ss. Tho sisal market is steady, with values well maintained. No. 1 for August-October shipment, £l7 15s. The New Zealand market is quiet and prices arc nominally unchanged. Krtiit. —The Port Nicholson, at Liverpool, and tho Wainiana, at .Southampton, are discharging fruit in good condition. These aro the final New Zealand arrivals. Australian arrivals continue. The pear market is bright; applo trade slow. New Zealand apple prices arc: Granny Smith, . 12s to 13s 6d; Delicious, Sturmer and Dougherty, 10s Gd to lis; Jonathan and Dunn s, 10s to 10s Gd; Yates, Hoover and Tasma, 9s 0d to 10s .'3d; Statesman and Premier, 9s Gd to 10s. Pears: Winter Nelis, 1A». to 15s; three-quarters, 12s to 14s; halves, Gs to 6s Gd; Trays, 2s 6d; I. Barry, 12s; Harringtons and Kcifter (wasty), 7s. '