BANK OF ENGLAND

New Zealand Herald, Volume LXXI, Issue 21925, 8 October 1934, Page 5

BANK OF ENGLAND

PAST WEEK'S RETURNS | IMPROVING TRADE SHOWN British "Wireless RUGBY, Oct. 5 Further evidence of improving trade conditions in Britain is found in the past week's returns or the Bank of England. Tho note circulation, which mainly represents tho actual cash in tho hands of tho public, expanded by nearly another £1,000,000, and now stands at mora than £7,000,000 higher than at this time last year. The bankers' clearing-house figures show a slight setback this week, but since the beginning of the present year they have recorded the remarkable expansion nf £12,450,000,000. This mainly represents an increased turnover nf cheques in connection with tho country's business and industry, and also its Stock Exchange investments,Although the latter probably have been much heavier this year, a large part of the increased turnover is due to greater activity in trade and industry. The clearing-house figures may be said to cover the wholesale trade, while tho note circulation forms a rough index of retail business. Both arc in a very healthy state. SYDNEY STOCK EXCHANGE SATURDAY'S BUSINESS SYDNEY. Oct. 6 Following were among to-day's sales oil the Sydney Stock Exchange: Commonwealth 4 per cent bonds, 195/5, £lll 10s; 1057. £lll 12s 6d; 11)01, £lll. Commercial Bank of Australia, preference, £9 18s; Commercial Bank of Sydney, £l7 18s; Toohev's Brewery, 29s 3d; Anthony Hordern, 16s 4£d; Associated News, 24s 9d; ditto, preference, 255; British Tobacco, 29s 3d; Dunlop-Perdriau, 19s 7sd; WilcoxMofflin, 10s Sd. FOREIGN EXCHANGES MINOR FLUCTUATIONS (Received October 7, 5.5 p.m.) British Wireless RUGBY, Oct. G The following rates on foreign exchanges were current yesterday, compared with the cabled quotations on October 4 and par: — Oct. 5 Oct. 4 Par, Montreal, dol. . . 4.81 4.81 4.806 New York, dol. . 4.92/s 4.92% 4.866 Paris, fr. . . 74% 74% 124.21 Brussels, belua . 20.90 20,90 35.00 Geneva, fr. .. 14.99 15 25.22 Amsterdam, il. . 7.21% 7.22% 12.10 Milan, lire .. -BVA» 57% 92.46 Berlin, r.m. 12.17 12.17 20.43 Stockholm, kr. . 19.39% 19.39% 18.159 Copenhagen, kr. . 22.40 22.40 18.159 Oslo, kr, . . 19.90% 19.90% 18.159 Vienna, sell. . . 25/4 26% 34.585 Prague, kr. .. in/Is Helsirtgfors, mark 226% 226% 1ii9.23 Madrid, pea. .. 35' Vie 35"/ l8 25.221 Lisbon, escu. .. 110% 110% 110 Athens, <ir. .. 512* 512* 375.00 Bucharest, lei. . . 490 490 818.6 RiodeJnneiro.mil. 4%d* 4%d* 5 899 a Buenos Aires, dol. 36% d* 36% d* 47,619 d Montevideo, <3ol. 39 3 /« d* 89% d* 51 d Bombay, rupee . 18V,lH'Acl 18(1 Shanghai, dol. . 17% d 17% d Hongkong, dol. . 19% d lSlVid Yokohama, yen . 14% ad 14% ad 24.58 d Batavia, fl. . . 7.19 7.20 12.10 Belgrade, din. . . 214 214 276.3.1 Warsaw, zloty . . •Sellers. (Received October 7, 5.S p.m.) LONDON, Oct. 0 On the foreign exchange market today the following quotations ruled New York, 4.92| dollars; Paris, 74 3-16 francs; Batavia, 7.19 florins. CUSTOMS EXCHANGE RATES Bates of exchange ruling at tho announced dates of departure of the vessels named are shown in the following table. They aro subject to confirmation by the Customs Department when the exact time of departure is 1 learned on arrival of the vessels in New Zealand, finally declared rates being marked : Canadian Leader, Canada, dollars 4.BSJ Monterey, Canada, dollars . . . . *4.86 [ Monterey, America, dollars . . .. *5.00 Armadale. America, dollars .. .. 4.992 Sydney Maru, Japan, yon .. .. . 14Jd Golden Bear, America, dollars . . 4.951 Brisbane Maru, Japan, yen .. 14 1-lGd NEW ZEALAND MONEY ABROAD Current dollar exchanges as, quoted by the New Zealand banks, are as under, compared with previous quotations:— U.S. Dollars to £1 sterling Sop. 10 Sept. 17 Sept. 25 Oct. 1 Oct. 8 Buying 5.09 5.11 5.09 5.06 5.02 Selling 4.89 4.91 4.89 4.86 4.82 Canadian Dollars to £L Buying 4.9G 4.96 4,93 4.94 4.00 Selling 4.7G 4.76 4.73 4.74 4.70 Following are the latest rates for purchases and sales of exchange quoted by the Bank of Now South Wales, Auckland. They arc subject to alteration without notice: — T.T. On Demand To ;El N.Z. Currency Selling Buying Selling France, fr. •• 58.97 60.57 59.02 Noumea, fr. .. 58.22 C 1.02 58.27 Papeete, fr. .. 58.22 01.02 58.27 Belgium, belga .. 16.519 17.319 10.531 Germany, r.m. . . 9.573 Italy, lire . . •• 45.24 Switzerland, fr. .. 11.806 12.341 11.876 Holland, fl. .. 5.683 5.983 5.687 Java, fl. . . .. 5.661 5.930 5.005 N.Z. pence to Japan, yon .. 17 a Shanghai, dol. . . 22 13 /„ «£/,. 22»/„ India, rupee . . 22% 2 2-/„ Ovlon rupee .. 22/ h -2,'«? 2*. m Hongkong, do!'. .. 24% 2#%, 2l*%a Singapore, dol. . . 3t>vi 31/ m 35/* The cost in New Zealand currency of the pound sterling, and of tho principal foreign units, on the latest quotations, is as follows: — Present Price Par nd s d Australian, pound .. 19 10.81 20 0.00 London. Pound . . . . 24 10.50 20 0.00 New York, dollar .. 5 1.93 4 .31 Montreal, dollar .. •> Pans, franc . . .. 4.0.3 0 1.98 Berlin, rrichmarli .. 2 0.n.) 0 11./4 Copenhagen. krone .. ] \ \ Yokohuma, yon . . . - 1 z COTTON, RUBBER, JUTE, ETC. (Received October 7. 5.5 p.m.) LONDON, Oct. G (Quotations on September 29 in parentheses) Cotton. —Spot, 0.88(1 (6.91(1) a lb.; November delivery, G.GOd (6.63 d). Rubber. —Para, sid a. lb.; plantation and smoked, GJd (70-16 d). Jute. —October-November shipments, £l4 17s 6d (£l4 7s Gd, September-Octo-ber) a ton. . Hemp.—October shipments, £lo 10s (not quoted). Copra. October-November shipments, South Sea, £8 (£8 ss) South Sea, smoked, £7 15s (£/ 12s Gd); plantation, Rabuul, £0 (£9 ss). Linseed Oil. —£19 15s (£2O sk) a ton. Turpentine. —12s 3d (12s 3d) a cwt. WHOLESALE PRICE OF EGGS Thero is no change in the wholesale price of eggs in Auckland, the following rates being quoted. Hon, first quality, 11 Ad a dozen; 13 grade, 10«}d; C grade, 81d; cluck, 10, id, 9Jd and 7id respectively. DRUG HOUSES OF AUSTRALIA The directors of Drug Houses of Australia, Limited, have recommended to shareholders a final dividend of 2 per cent, making 8J per cent for tho year ended June 30, compared with li per cent in 1932-33. It ia payable on October 31.