BRITISH SHIPPING

New Zealand Herald, Volume LXXI, Issue 21744, 8 March 1934, Page 5

BRITISH SHIPPING

SUGGESTED ASSISTANCE REDUCED HARBOUR CHARGES [by TELEGRArn —mESSI association] CHRISTCHURCH, Wednesday The suggestion "that the time had come when there'might be some modification of the laiv which did not allow harbour boards in New Zealand to differentiate in dues or cargoes in favour of British shipping was made at a meeting of the Lyttelton Harbour Board by the chairman, Mr. W. G. Gallagher. Mr. Gallagher said it was time for the harbour boards- to strengthen the Government's hands by offering evidence in favour of the modification of the existing law, which compelled harbour boards to treat all ships alike. It was not necessary to go beyond New Zealand to see the threat which " free trade in shipping " held for the sigamship lines, especially in view of the recent declaration of the President of the United States in favour of shipping subsidies.

FLAX GRADINGS FIGURES FOR FEBRUARY A total of 1979 bales of hemp was graded for export at New Zealand ports during February, an increase of 47 bales on the quantity graded in January, but a decrease of 636 bales on the gradings in February, 1933. The quantities graded at the respective ports were: —Wellington, 98L bales; Bluff, 445j Auckland, 360; Picton, 123; Blenheim, 55; Christchurch, 15. The hemp was graded as follows, the figures for the corresponding month of the previous year being given in parentheses: —Fine, 19 ( —); good fair, 294 (438); high fair, 651 (642); low .fair, 386 (593); common, 301 (808); reject, 298 (132); condemned, 30 ( —).

An increase of 282 bales is shown in the figures of two gradings, which totalled 562 bales, as against 280 bales in January. Compared with the total in February, 1933, there was an increase of 222 bales. The gradings at the ports were: —Waikuku, 360 bales;. Wellington, 121; Picton, 62;. Auckland, 19. The tow comprised:—First grade, 51 (41); second, 479 (129); third, 19 (143); condemned, 13 (17). In stripper slips, 17 bales were graded third grade at Bluff, compared with eight bales third and two bales second grade in February, 1933.

PRICES OF METALS TIN AND COPPER FIRM (Received March 7, 7.35 p.m.) LONDON. March 6 Following are to-day's quotations on the London" metal market comparedwith those of March 5: —

GOLD AND SILVER QUOTATIONS IN LONDON (Received March 7, 7.35 p.m.) LONDON, March 6 Fine gold is quoted to-day at £6 1/s 2d an ounce, compared with £6 16s lOd yesterday. Silver is quoted at 20 9-16 d an ounce spot and 20jd forward, compared with 20? d and 20 11-16 d yesterday. The quotation for silver at per fine 07.. is 21 3-16 d, compared with 22{a yesterday. FOREIGN EXCHANGES British Wireless RUGBY, March 6 The following rates, on foreign exchanges aro current, compared with the cabled quotations on JVJarch 5 ancl Par " Mar. 6 Mar. 5 Par. Milan, lire .... 59% 59 SU.4b Stockholm? 1 kr. .7 19.39% 19.39% wilM Copenhagen, kr 22.40 22-40 18.159 Vienna, ' sch. .. 23% 28% 34 585 Prnmie kr .. 122% 122% J64.ift Helsing'fors", mark 226% 2204 129-23 SS. :: If 2 no Athens, dr. .. 530' 530' 375.00 Bucharest, .lei. ... 510 510 813.6 RiodeJaneiro,mil. 4%c] 4, ? d 5.899 cl Buenos Aires, dol. 36/.d 47 619 d Montevideo, dol. '3B/ A d d 51d Bombay, rupee .. 18 5-32 dlB /,sd 18d Shanghai, dol. .. 10/ ad Hongkong, dol. . ] 04 KM Yokohama, yen . 14/ 10 d ?i,„ Batavia fl 7! ' 2 12 - 10 Belgrade, din. !! 222 225 276.31 •Sellers.

CUSTOMS EXCHANGE RATES Rates of exchange ruling at the announced dates of departure of the vessels named aro shown in the following table. They 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 : Melbourne Maru, Japan, yen .14 0-32 d Canadian Constructor Canada, dol. 4.98 Niagnra, Canada, dollars . . • • S.o6i City of Canberra. America, dollars 6.08 4 Golden Coast, America, dollars .. 5.08} Sydney Maru, Japan, yen .. .. 14 3-1 Gd "VVairi'ina, America, dollars . . . 5.08* NEW ZEALAND / MONEY ABROAD Current dollar exchanges, as quoted by the Now Zealand banks, aro as undeir.— Buying Selling aS BUt ? s S » The cost in New Zealand currency of the pound storling and of the principal foreign units, on the latest quotations, is as follows: —• • Present Price Par Australia, pound .. 20 000 20 0.00 London, pound.. •• 24 11.68 20 0.00 Now York dollar .. 5 0.30 4 1.81 .: i*. 03 80 0 1.98 Berlin', mark . . .. 1 Copenhagen, krono .. 1 1-38 l J-j" Yokohama, yen . . .. 1 5.58 2 0.58 These valuations represent the current rates at which the banks sell drafts payable on demand. WHEAT IN AMERICA CHICAGO, March G, Wheat. —May, 87i cents a bushel; July, 86£ cents; September, 87i conts. The New York price for cash is 98i cents. BRITISH WAR LOAN British Wireless RUGBY, March 6 War Loan, 3J per cent, is quoted today at £lO3 16s 3d, compared with £lO3 18s 9d yesterday.

Mar. 6 Mar. 5 Per ton Per ton £ s <1 £ s d Copper, stan., spot .. 32 16 101 32 15 71 Copper, stall., 3 mos... 33 1 10* 33 0 71 •Copper, electrolytic .. 35 10 0 35 10 0 to to 36 5 0 36 5 0 Copper, elec., wire bars 86 5 0 36 5 0 Lead, soft, spot 11 13 9 11 12 6 Lead, soft, forward . . n 1 3 11 18 9 Spelter, spot 14 17 6 14 13 9 3 Spelter, forward 15 5 0 15 1 Tin, stan., 'spot 229 18 9 229 15 0 Tin. stan.. 3 mos. 228 11 3 228 8 9 * American 8 cents a lb.