SHIPPING OF PRODUCE

New Zealand Herald, Volume LXXI, Issue 21793, 7 May 1934, Page 5

SHIPPING OF PRODUCE

MUCH WORK INVOLVED MANY COMPLICATING FACTORS An indication of tlio complicated work involved in arranging shipments of dairy produce every season is givpn in a statement supplied by tlio New Zealand Dairy Produce Board. The board handles the output of 500 factories, many having two or more agents, in such a way as to ensure uniformity of treatment. The board states:

"For tho 12 months'ending in July, it is estimated that at least 120 vessels will have loaded Now Zealand butter and oheeso. Tho board will have compiled and handled at least 30,000 sets of bills of lading; will have paid and collected freights on behalf of factories amounting to over £1,700,000; and will have compiled and lodged customs export entries lor every individual brand of butter and cheese that- goes forward with each vessel. "Sometimes it is difficult to complete effect to the policy laid down by the board that all grading ports shall bo cleared of graded produce to the same dates, so that all will receive similarity of treatment at the other end. There are 11 grading ports in the Dominion; four in the South Island and seven in the North Island, lo ensure fair treatment for factories, irrespective of grading ports, it is not only necessary to keep them cleared to approximately the same dates, but also to so arrange clearings that the vessels ou which the produce is taken will arrive in England at approximately the same time. This requires some skilful adjusting on the part of tho board's specialist shipping officers, for tho vessels serving the Now Zealand trade vary tremendously in speed. "Tho shipping work of tho board is one pliaso ot its activities which has merited widespread praise from factories and agents, while the fact that there is central control makes it very much easier for the shipping companies to improve the service they can give.

FOREIGN EXCHANGES

DOLLAR AND THE FRANC (Received May G, 5.5 p.m.) British Wireless RUGBY, May 5 The following rates on foreign exchanges were current yesterday, compared with the cabled quotations on May 3 and par:—• May 4 May 3 Par. Montreal, dOl. . . New York, dol. . . 5.1- a it'l oi' Paris fr . . . 77% 77%, 124.21 Brussels.'belga .. 21.83 21.87 35.00 Geneva, fr. . . . 15.73 L 0 Ti'in Amsterdam, fl. .. 7.5-/4 7.04 1-.10 Milan, lire .. 50 29-32 60 92.46 "Rprlin r m • • 1.2.95 12.97 —0.43 Stockholm kr. .. 19,10 10, 40 18.150 Copenhagen, kr. . 22,39.a In'Ln Oslo, kr 19.90/ a 19.90'/, 18.159 Vienna, sch. .. 28 28 34.1580 Prague kr . . 122% 122% 1b4.25 Helsimjfors, , mark 226% 220% 192.23 Madrid, pes. .. 3 r/ a -ij/ia "V Lisbon, escu. .. 110 110 110 Athens, dr. . . 530* 530 Bucharest, lei. . . 510 ?qoqj Rio de Janeiro, mil. 4%d Buenos Aires, dol. .'Slvad. -ii Montevideo, dol. . 38/« d 38/ id old Bombay, rupee 18.3-32 d 18 3-3'~d 18d Shanghai, dol. . . 15_d Hi 7 /! Hongkong, dol. .. lO^nd Yokohama, yen t . 14, 4 d tri'in Batavia, fl.. - 12 10 Belgrade, din. . . 225 To 'j Warsaw, zloty . . •Sellers. (Received May 6, 5.5 p.m.) LONDON, May 5 On the foreign exchange market today the following quotations ruled:— New York, 5.115 dollars; Paris, 77 3-16 francs; Batavia, 7.50 florins.

CUSTOMS EXCHANGE RATES Rates of exchange ruling at >the announced dates of departure of the vessels named are shown in the follow-

ing table. They are subject to confirmation by the Customs l)opartmen t when the exact time of departure is learned on arrival of the vessels in New Zealand, finally declared rates being marked*:

Canadian Britisher, Canada, dollars 0.10, Wiiiton, America, dollars . . . . o.liS Waikawa, America, dollars . . * . 5. lot Niagara, Canada, dollars • . • • Mariposa, America, dollars . . . . 5.10} Canadian Leader, Canada, dollars; . 5.121

NEW ZEALAND MONEY ABROAD Current dollar exchanges, as quoted by the New Zealand banks, are as under, compared witli previous quotations:—

U.S. Dollars to £1 A pi. 9 A pi. 16 A pi. 24 Apl. 00 May 7 Buying 5.26 5.25 6.27 5.23 5.21 Selling 5.06 5.00 5.07 5.0.i 5.01 Canadian Dollars to £i Buying 5.26 5.24 5.24 5.2.5 Selling 5.06 5.04 5.04 5.02 5.00 The cost ill New Zealand currency of the pound sterling and of the principal foreign units, on tho latest quotations, is as follows: Present Price Par h d s d Australia, pound . . . 20 0.00 20 0.00 London, pound .. .. 24 11.5b 20 0.00 Now York, dollar .. 4 1 .83 4 1.31 Montreal, dollar . . . 4 Paris, franc .. .. 0 3.87 „ Berlin, mark .. .. J IJ-H 0 11., 4 Copenhagen, krone . . J I.JH l i Yokohama, yen . . - » 1 0.79 - 0.08 These valuations represent the current rates at which the banks sell drafts payable 011 demand.

GOLD AND SILVER

QUOTATIONS IN LONDON

(Received May G, 5.5 p.m.) LONDON, May 5 Fine gold is quoted to-day at £6 lbs 2d an o'/.., compared with £t> 15s lOd yesterday, and £G lbs on Thursday. Silver was quoted yesterday at load an oz. spot, and 18 11-lbd forward, compared with 18Jd and IS 13-16 d on Thursday. ' ' / The quotation lor silver at per lino 07.. yesterday was 20Jd> compared with 20} d <>» Thursday.

BRITISH WAR LOAN

British Wireless RUGBT, May \ War loan, 34 per cent, is quoted today at £lO3. compared with £lO2 17s Gd yesterday.

COTTON, RUBBER, JUTE, : ETC. (Received May 6. 5.5 p.m.) LONDON. May 5 (Quotations on April 28 in parentheses.) Cotton. —Spot, 5.93 d (S.BSd) a lb.; June delivery, 5.73 d (S.GGd May). Rubber.—Para, 5Jd (sAd> a lb.; plantation and smoked, 7d (G l-16d). ,j utc. —May-June shipments, £ls 15s (£ls lis 3d, April-May) a ton. Copra. —May-June shipments, South Sea, £7 12s Gd (£7 7s Gd) a ton; South Sea, smoked, £6 17s Gd (£G 15s); .plantation, Rabaul, £8 5s (£3). Linseed Oil. —£21 jOs (£2O 15s) a ton.

Turpentine.—l7s 9d (48s 9d) a ewt

WHEAT IN AMERICA

(Received May 6. 5.5 p.m.) CHICAGO, .May 5 Wheat.—May, 81 $ cents a bushel; July,. 79j| cents; September, 80} cents. The New York price for cash is 93Jr cents.