BUTTER RISES AGAIN

New Zealand Herald, Volume LXXII, Issue 22139, 19 June 1935, Page 7

BUTTER RISES AGAIN

MARKET REPORTED FIRM INCREASE OF 1/- PER CWT. A further advance of Is per cwt. has occurred in the London price of New Zealand butter, which is quoted at 88s per cwt. The market is reported as firm in a cablegram received by Joseph Nathan and Company, Limited, from its London principals. Trengrouse and Nathan, Limited, under date June 17. AUSTRALIAN WOOL THE SELLING SEASON EXTENSION ARRANGED (Received June IS. 0.45 p.m.) MELBOURNE, June 18 The Wool Selling Brokers' Association of Australia to-day indicated that the decline in this year's Australian clip will be less than 10 per cent, compared with last year, when the total was 3.146.000 bales. The selling period in the coming season is to be extended to between nine and ten months. AUSTRALIAN EXCHANGES YESTERDAY'S BUSINESS (Received June 18. 7.45 p.m.) SYDNEY, June 18 On the Sydney Stock Exchange today front rank industrial shares maintained a strong position, but there was profit-taking among many of the lowerpriced issues. The gold sharemarket continued to drift, and the gilt-edged market was quiet. This morning's sales included: Commonwealth 4 per cent bonds: 1938, £lOl 16s 3d; 1947. £lO5 12s 6d; 1950, £lO6 16s 3d; 1953, £lO6 15s; ]955, £lO4 15s. Bank of Australasia, £ll ss; Tooth's Brewery, 535; Associated News, 23s 6d; Meggits, 21s 7^d.

Later sales included:—Commercial Bank of Sydney, £l7 16s; National Bank (£5 paid), £6 Gs; ditto C£lo paid), £l2 18s; Bank of Australasia, £ll os; Associated News, 23s 6d; Australian Gas, A shares, £8 Is 6d; Australian Glass, 69s 6d; Hume Pipe, 13s 9d; Howard Smith, 14s 9d; HuddnrtParker, 38s; British Tobacco, 395; Tooth's Brewery, 53s 3d; Carlton Brewery, 49s 3d; General Industries, 17s 10} d; Morris Hedstrom (preference), 255; David Jones, 40s 6d; Victoria Nyanza, 5s 6d; Lustre Hosiery, 27s 4Jd; Mount Morgan, 36s 7jd; South Broken Hill, 87s; Bulolo Gold, £9 8s; Kuala Kampar, 13s; Rnwang, 7s 4d; Malim Nawar, 17s 6d; Peninsula Tin, 20s lid. Melbourne sales included:—National Bank (£lO paid), £l2 -16s; Mount Lyell, 19s 6d.

FOREIGN EXCHANGES DEPRECIATION OF STERLING (Received June 18, 6.5 p.m.) British Wireless RUGBY, June 17 The following rates on foreign exchanges are current, compared with the cabled quotations on June 15 and par:— June 17 Juno 15 Par Montreal, dol. .. 4.94' i 4.94% 4.8(56 New York, dol. . 4.92% 4.91 4.866 Paris, fr. .. 74% 74'% a 124.21 Brussels, belga . 29.12 29.19 35.00 Genera, fr. .. 15.07% 15.14% 25.22 Amsterdam, fl. . 7.26 7.29% 12.10 Milan, lire .. 60%» 59 J %, 92.46 Berlin, r.m. .. 12.22 12.26 1 /, 20.43 Stockholm, kr. . 19.39'/, 19.39 V, 18.159 Copenhagen, kr. . 22.39% 22.39% 18-159 Oslo, kr. .. 19.90% 19.90% 18.159 Vienna, sch. .. 26 26% 34.585 Prague, kr. . . 118 118*%, 164.25 Helsingfors, mark 226% 226% 129.23 Madrid, pes. .. 36%, 36%, 25.221 'Lisbon, escu. .. 110% 110% 110 Athens, dr. . . 515* 517* 375.00 Bucharest, lei, . 487% 487% 813.6 KiodeJaneiro.mil. 4%d* 4%d* 5.899 d Buenos Aires, dol. 35d* 35d* 47.619 d Montevideo, dol. 39% d* 39% d* 51d Bombay, rupee . 18% d 18% d lSd Shanghai, dol. .. 19% d 19% d Hongkong, dol. . 28%»d 28%„d Yokohama, yen . 14% d 14% d 24.58 d Bntavia, fl. . . 7.24% 7.26% 12.10 Belgrade, din. .. 217 218 276.31 •Sellers. NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South Wales) quoted the following dollar-sterling rates yesterday, subject to alteration without notice:— United States Canada Conversion dollar bills received for collection and sale dollar drafts and telegraphic transfers . . . . 4.91 4.92 Purchase dollar bills .. 4.94 4.95 On a New Zealand currency basis these rates are equivalent to:— Selling: United States Canada T.T .. 3.94% 3.95% On demand .. 3.94% 3.95% Buying: On demand .. 4.00% 4.01% 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 notico:— T.T. On Demand To £1 N.Z. Currency Selling Buying Selling U.S.A., dol. .. 3.94% 4.00% 3.95% Canada, dol. .. 3.95% 4.00% 8.95% Fiance, fr. .. 59.28 60.88 59.33 Noumea fr. .. 58.53 61.93 58.58 Papeete, fr. .. 58.53 61.93 58.5S Belgium, bWga .. 23.08-1 Germany, r.m. .. 9.610 Switzerland, fr. .. 11.932 12.407 11.942 Italy, lire .. .. 47.59 Holland, fl. .. 5.718 6.018 5.722 Java, fl 5.698 5.973 5.702 Sweden, kr. .. 15.459 15.829 15.4r>9 Norway, kr. . . 15.870 1 6.240 1 5.880 Denmark, kr. .. 17.878 18.248 17.888 Austria, sch. . . 20.59 Czeclio-Slovakia, cr. 94.53 N.Z. pence to Japan, yen .. 17*%, Shanghai, dol. .. 25*%, 23 3 %, 25 1, %, India, ruj.ee .. 22"/ 3 , 22%, 22 a % a Ceylon, rupee .. 22 J %, 22% 3 22 a %, Hongkong, dol. .. 35 2 %, 34'%, 35*%, Singapore, dol. . . 35%, 34% 35%, The cost in New Zen land currency of the pound sterling, and of the principal overseas units, on the latest quotations, is as follows: — Present Price Pur •: <1 s d Australia, .oound .. 19 10.81 20 0.00 London, pound .. 24 10.65 20 0.00 Fiji, pound . . . . 22 5.66 20 0.00 New York, dollar . . 5 0.79 4 1.31 Montreal, dollar .. 5. 0.67 4 1.31 Paris, franc . . .. 0 4.00 0 1.98 Berlin, reichmark .. 2 0.43 0 11.74 Copenhagen, krone .. 1 1.33 1 1.22 Yokohama, yen . . , . 1 6.57 2 0.58 CUSTOMS EXCHANGE RATES Hates of exchange ruling at the announced dates ot departure of vessels named are 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 are marked*: — Canadian Scottish, America, dollars *4.85 Canadian Scottish, Canada, dollars *4.86 City of Salisbury, America, dollars 4.95% Wammn, America, dollars .. .. 4.95 (iolden Bear. America, dollars .. 4 92% Sydney Mam, Japan, yen .. .. 14%cf Canadian Victor, Canada, dollars 4.95 V, BEEKEEPERS' CONFERENCE MEETING IN HAMILTON [fkom our own* correspondent] HAMILTON. Tuesday The annual conference of the .New Zealand Beekeepers' Association will commence in Hamilton to-morrow morning. Between 00 and 70 delegates from all parts of New Zealand are expected to attend. The conference will continue until Friday. Members of the I South Auckland branch are arranging a social to be held on Thursday evening. and the visitors will be taken on a tour to points of interest in tha district.