QUOTA POSSIBILITIES

New Zealand Herald, Volume LXXI, Issue 21961, 19 November 1934, Page 5

QUOTA POSSIBILITIES

SHIPMENTS OF MEAT BASIS OF WEIGHT SUGGESTED "Auy restrictions imposed on shipments of meat to Great Britain will be on the weight of meat, so that the importance of shipping the article of lesser weight and higher price level is clear," said Mr. J. H. Blackwell, chairman of directors of the North Canterbury Sheopfarniers' Co-operative Freezing, Export and Agency Company, Limited, at the annual meeting held in Cii/istchvjrch last week. Ke--1 erring to the London discussions, Mr. Blackwell said that indications pointed to favourable consideration for lamb and pork. "Great Britain's restriction on pig products from foreign countries since 1931 is over 2,000,000cwt., valued at over £3,000,000," said Mr. Blackwell. "The effect has been better market prices for British and Dominion producers. In 1933 New Zealand shipped 278,000c-wt. of frozen pork, compared with 121,000c\vt. two years before, at an increased value of over £300,000 in the two years. Although this shows an increase of over 100 per cent in two years, New Zealand's total even then is only 2 per cent of the imports to the United Kingdom markets, in which Denmark's share is over 50 per cent. "As tho indications of quota policy are in the direction of exempting pork it would appear that the export ol frozen porkers and baconers is capable of much expansion and is worthy ol the most careful attention of producers. In daVs when decreased output obtains in so many lines, pig production seems to be the one with the greatest possibility of development." AUSTRALIAN WOOL tariff revision wanted DIFFICULTY WITH CUSTOMERS A deputation of graziers' representatives recently interviewed the Prime Minister of Australia, suggesting a revision of the Commonwealth tariff in order to encourage a revival of woolbuying orders from various countries. Subsequently, Sir Graham WaddeU, chairman of the Australian Woolgro'vers' Council, said he was confident that every reasonable effort would be made by the Federal Government to overcome the difficulties which had arisen with many of tho main wool customer countries. Commenting on the representations, tho weekly wool letter of tho Sydney Morning Hei'old states: —"Australia lives by exports, of which wool is the most important. Consuming countries have exercised great patience with respect to Australia's attitude, probably because the sheep's staple grown was the most suitable raw material for their purposes, but financial stress has compelled them to seek supplies in quarters which provide them with a reasonable amount of reciprocal trade. Wool representatives who have recently visited countries overseas have had evidence of the keen resentment felt at Australia's heavy tariff. None of the nations interested expects Australia with its small population to supply completely balancing business, but they do desire a volume of orders for goods which will give an indication that the Commonwealth docs not almost completely prohibit compensating trade with those who purchase its primary products."

FOREIGN EXCHANGES MINOR FLUCTUATIONS (Received November 18, 5.5 p.m.) British "Wireless RUGBY, Nov. 17 The following rates on foreign exchanges were current yesterday, comSarea with the cabled quotations on ovember 15 and par:— Nov. 16 Nov. 15 Par. Montreal, dol. .. 4,57% 4.80% 4.860 New York, dol. . 4.99% 4.99' i 4.8G0 Paris.fr. .. 75"/.. 75 *A 124.21 Brussels, belga . 21.43 21.39/ i 30.00 Geneva, fr. .. 15.39 15.37% 25.22 Amsterdam, fl. . 7.39% 7.39 12.10 Milan, lire .. 58 7 /,„ 58% , 92.46 Berlin, ran. .. 12.43 12.42% 20.43 Stockholm, kr. . 19.33% 19.39% 18.159 Copenhagen, kr. . 22.40 22.40 18.159 Oslo, kr. .. 19.9014 19.90% 18.159 Vienna, sch. .. 27 27 34.585 Prague, kr. .. 119% 119% 104.25 Helsingfors, mark 22G : % 226% 129.23 Madrid, pes. .. 30 I %a 36% 25.221 Lisbon, eacu. .. 110% 110*4 310 Athens, dr. .. 523* 523' 375.00 Bucharest, lei. . . 497 497 813.6 rtiodeJaneiro.mil. 4%d* 4%d* 5.899 d Buenos Aires, dol, 36% d" 36% d* 47.619 d Montevideo, dol. 39d* 39%sd* 51d Bombay, rupee . 18% 0 d 18%« d ISd Shanghai, dol. . 16% d 14% d Hongkong, dol. . 20% r ,d 20% 6 d Yokohama, yen . 14d 14 l-64d 24.58 d Batavia, fl. . . 7.38 7.39 ~ 12.10 Belgrade, din. .. 220 220 270.31 Warsaw, zloty . . •Sellers. (Received November 18, 6£ p.m.) LONDON, Nov. 17 On the foreign exchange market today the following quotations ruled: — New York, 4.99 dollars; Paris, 752 francs; Batavia, 7.38 florins. NEW ZEALAND MONEY ABROAD Current dollar exchanges, as quoted by the New Zealand banks, are as under:— Dollars to £1 sterling Buyers Sellers Unitfed States .. 5.09 4.89 Canada .. 5,97 5.77 Following are the latest rates for purchases and sales of foreign exchange quoted by the Bank of New South Wales, Auckland. They are subject to alteration without notice:— T.TJ. On Demand To £1 N.Z. Currency Selling Buying Selling France, fr. .. 60.24 61.84 60.29 Noumea, fr. .. 59.49 02.89 59.54 Papeete, fr.. .. 59.49 62.89 59.54 Belgium, belga • • 16.893 17.693 16.908 Germany, r.m. .. 9.775 Italy, lire , . .. 40.25 Switzerland, fr. .. 12.182 12.057 12.192 Holland, fl. .. 5.824 ' 6.124 5.828 Java, fl 5.822 0.097 5.826 N.Z. penco to Japan, yen .. 17% Shanghai, dol. .. , 20-/ 3 a 19% India, rupee . . 22% w''?* 000) B Ceylon, rupe*; . . 22/» 22Xia /}" Hongkong, dol. .. 25"/ lt> 24% 25/ h Singapore, dol. . . 35% 3i/n 35A» The cost in New Zealand currency of the pound sterling, and of the principal foreign units, on tho latest quotations, is as follows: — Present Price Par hd s d Australia, pound .. 19 10.81 20 0.00 London, pound . . .. 24 10.60 20 0.00 New York, dollar .. 5 1.00 4 ,1.31 Montreal, dollar .. 6 2.61 4 1.31 Paris, franc . . .. 0 3.9.1 0 1.98 Berlin, reichmnrk .. 2 0.01 0 11.74 Copenhagen, krone .. 1 !.<" * Yokohama, yen .. 1 5.41 2 0.08 CUSTOMS EXCHANGE RATES Rates of exchange ruling at the announced dates of departure of the vessels named are shown in the following table. They are subject to confirmation by the Customs Department when tho exact time of departure is learned on arrival of tho vessels in New Zealand, finally declared rates being marked : Canadian Challenger, America, dol. *4.97 Canadian Challenger, Canada, dollars 4.81 Port Campbell, America, dollars .. 4.JH» Golden Coast, America, dollars .. 4.971 Melbourne Maru, Japan, yen .. 14d Aoranai, Canada, dollars .. .. 4.87J Hauraki. America, dollars .. .. 4.98 i Canadian Highlander. Canada, dol. 4.87 Monterey, America, dollars .. . • 4.JUJ WHOLESALE PRICE OF EGGS The following are the wholesale prices for eggH in Auckland: —Hen, first grade, 10Jd a dozen; B grade, Old; C grade, 7Jd; duck, 9Jd, Sid. and 6Jd.