AUSTRALIAN PROVINCIAL

New Zealand Herald, Volume LXXII, Issue 21999, 4 January 1935, Page 5

AUSTRALIAN PROVINCIAL

ASSURANCE FIRM'S YEAR

LOWER PREMIUM INCOME

Tho report of tho Australian Provincial Assurance Association, Limited, for tho year ended September 30, states that with £3029 brought forward and including £2570 from tho accident department, £43,600 is available, compared with £39,673 in the previous year. As stated in the Hebald on December 14, the .year's dividend is 2£ per cent, an increase of li per cent. This requires £8926; bonus to policy-holders, £33,007; transfer to leasehold reserve, £1000; leaving £667 to be carried forward.

Total premium income in the life department was £216,492, a reduction of £5961 on that of tho previous year. Income from interest, rents, and dividends was £114,101, a reduction of £CBO. Total claims, at £196,661, increased by £17,459, a reduction in surrenders being moro thjin offset by an increase in endowments matured and death claims. The capital of tho company is £357,028. Reserves, including land and income taxes and mortgages, are unaltered at £58,000. Assets are valued at £3,142,182, of which Government securities, at cost, represent £1,462,582. UNION BANK COMPARISON OF RESULTS As the Union Bank of Australia, Limited, is now closing its year on August 31 in each year and not on the last day in February, the accounts for the half-year ended August 31, 1934, will be presented at the annual meeting to bo held London this month or irf February. Previously, tho annual meetings were held in July. On tho cabled information which appeared in tho Herald yesterday, results for the half-year compare as follows with those of tho previous two years:— Half-year ended Auk. 1932-33 1933-34 31. 1931 Brought forward £90,964 £100,523 £104,032 Not profit .. 209,559 203,509 100,998 £300,523 £304,032 £211,030 Dividend .. 5 5 2i Amount .. 200,000 200,000 100,000 Carried forward £100,523 £104,032 £111.030 LONDON STOCK EXCHANGE BANK SHARES AND DEBENTURES LONDON, Jan, 2 On the London Stock Exchange quotations of bank shares and other corporation debentures and. stock compare with previous quotations as follows:—• Dec. 18 Jan. 2 £bd £ b d ■ Australasia .. .. 817 6 9 0 0 New South Wales .. 24 0 0 24 0 0 Union of Australia .. 612 6 610 0 National of N.Z. .. 213 fi 214 3* N.Z. Shares . . .. 22 G 2 3 9 N.Z, Loan and Mer., 4 p.c, deb. . . 93 7 6 93 0 0 N.Z. Loan and Mer., ord 87 10 0 37 10 0 E., S. and A. ..4 4 4} 429 *Ex dividend. RECORD FOR WAR LOAN (Received January 3, 6.5 p.m.) British Wireless RUGBY. Jan. 2 Firmness was displayed in most sections of the stock markets to-day, activity in industrial shares'being a notablo feature. Gilt-edged stocks showed ronewed buoyancy and at the close were quoted appreciably higher. War loan, per cent, touched tho new high record of £lO9 7s 6d, compared with £IOB 8s 9d on December 3J ; . { Home railways declined on unsatisfactory holiday traffic returns for last week. FOREIGN EXCHANGES MINOR FLUCTUATIONS British Wireless RUGBY, Jan. 2 The following rates on foreign exchanges are current, compared with the cabled quotations on January 1 and par: Jan. 2 Jan. 1 Par Montreal, dol. .. 4.89% 4.91 4.866 New York, dol. . 4.94%, 4.91 4.860 Paris, fr. .. 74% 74 l V' lfl 124.21 Brussels, belga . 21.01 21.03 35.00 Geneva, fr. .. 15.17Va 15.21% 25.22 Amsterdam, fl. . 7.27 7.29 12.10 Milan, lire .. ■ 5757% 92,46 Berlin, r.m. .. ' 12.28% 12.26 20.43 Stockholm, kr. . 19.39% 19.39 1 /, 18.159 Copenhagen,.kr. . 22.39% 22.39% 18.159 Oslo, kr. .. 19.90% 19.90% 18.159 Vienna, sch. .. 20% 26% 31.585 Prague, kr. . . 117"/,„ 118 164.25 Ilelsingfors. mark 226% 226% 129.23 Madrid, pes. .. 36 36%, 25.221 Lisbon, es'cu. .. 110% 110% 110 Athens, dr. .. 517* 517* 375.00 Bucharest, lei. . . 490 490 813.6 Riode.Taneiro,mil. 4VHd* 4'/d* 5.899 d Buenos Aires, dol. 36% d* 36% d* 47.619 d Montevideo, dol. 39% d* 39% d* 51d Bombay, rupee . 18V; B d 18 l /„,d 18d Shanghai, dol. . . 16"/,„d 17d Hongkong, dol. . 20 13 /, e d 20 13 /„d Yokohama, yen . 14d l4d 24.58 d Batavia, fl. . . 7.26% 7.26% 12.10 Belgrade, din. . 218 218 276.31 •Sellers. NEW ZEALAND MONEY ABROAD Current dollar exchanges as quoted by the Now Zealand banks, are as under:— Buying Selling United States . . 4.98 4.88 Canada . . . . 4.96 4.86 Following are the latest rates for purchases and sales of foreign exchange quoted by the Bank of New South Wales, Auckland. They arc subject to alteration without notice: —

T.T. On Demand To £1 N.Z. Currency Selling Buying Soiling France, fr. . . 59.23 60.83 59.2S Noumea, fr. .. *8.43 61.88 58.53 Papeete, fr. . . 58.4S 61.88 58.53 Belgium, bclga .. 16.559 17.359 16.574 Germany, r.m. . . 9.634 Italy, lire . , . . 45.49 Switzerland, fr. .. 12.017 12.492 12.027 Holland, fl. .. 5.727 6.027 5.731 Java, fl. .. .. 5.722 5.997 5.726 N.Z. pence to

Japan, yen .. 17% Shanghai, dol. .. 2V/ 32 20% 3 21 : % a India, rupee . . 22 a, / 33 22%„ 22'%, ■Ceylon, rupee . . 22-\' 33 22/',„ 22 1 % a Hongkong, dol, . . 26 1, / aa 25%! 20% 3 Singapore, dol. . . 35% 34% 0 35% 9 The cost in New Zealand currency of the pound sterling, and of the principal foreign units, on the latest quotations, is as follows: — Present Price Par s <1 s d Australia, pound .. 19 10 81 20 0.00 London, pound .. 24 10.50 20 0.00 New York, dollar .. 5 1.17 4 1.31 Montreal, dollar .. 5 1.44 4 1.81 Paris, franc . . .. 0 4.00 0 1.98 Berlin, reichmark .. 2 0.30 0 11.74 Copenhagen, kroito .. 1 1.33 1 1.22 Yokohama, yen .. 1 5.41 2 0.58 CUSTOMS EXCHANGE RATES Kates of exchange ruling at the announced dates of departure of tho vessels named are shown in the following table. They are subject to confirmation by the Customs Department when tho exact tiino of departure is learned on arrival of the vessel in New Zealand, finally declared rates being marked*:— Golden State, Canada, dollars . . *4.80 Golden State, America, dol. . . *4.95 Sydney Mnru, Japan, yon .. . 14% = d Canadian Britisher, Canada, dol. . 4.84% Indien. America, dollars . . .. 4.94 Benholm, America, dollars . .. WHEAT IN AMERICA CHICAGO, Jan. 2 Wheat. —May, 98$. cents a bushel; July, 93$ cents; September 90J cents. The New York price for cash is 1 dollar 71 cents.