DEVONPORT FERRY CO.

New Zealand Herald, Volume LXXII, Issue 22140, 20 June 1935, Page 7

DEVONPORT FERRY CO.

INCREASE IX TRAFFIC REPLACING OLD STEAMERS ANNUAL MEETING HELD "There was a slight increase in both passenger and vehicular traffic auring the past year," said Mr. W. D. Holgate, chairman of directors of the Devonport Steam lerry Company, Limited, at the annual meeting of shareholders yesterday. ''Although patronage was lost through the closing of the Takapuna racecourse, climatic conditions were favourable during the summer months."

Mr. Holgate said the inauguration last November of practically an allnight vehicular service to Devonport had hardly been justified from a financial point of view, but it had been thought advisable in the public interest to endeavour to continue the service. Recently it was found necessary to reduce fares on weekly concession tickets and on "through" tickets to Takapuna. The concessions granted during the past two and a-half years on all the company's services amounted to a reduction in revenue of £'3300 a year. "The fleet has been maintained in a state of efficiency," said Mr. Holgate. "Although we have sufficient steamers adequately to cope with the present business, it will be found necessary in the near future to consider the building of one or two new steamers to replace those which are now of mature age."

I Referring to the subsidiary company, i the North Shore Transport Company, i the chairman said the number of pasI senders carried by the company's buses ! during the year showed a slight ini crease, although on account of the con- | cessions granted in fares the revenue decreased slightly. The buses and plant had been well maintained. The com- ; pany had been experimenting with a Diesel oil engine in one of the buses, j and the directors had ordered three I additional engines and two new bus i chassis. | The chairman referred to recent imI provements at the Pirate Shippe and | to the company's land at the corner of i Takapuna Beach and The Promenade, ! which was used as a motor camp. ' These had been of assistance financially, j he said. j The report and balance-sheet, which i appeared in the Herald on June 11, ■were adopted. Mr. E. It. N. Russell was re-elected a director. PRICES OF METALS COPPER EASIER AGAIN LONDON. June 18 Following are to-day's quotations on | the London metal market, compared | with those of June 17:— .Tune IS June 17 Per ton Per ton £ s d i\ s d | Copper, stan., spot.. 30 4 4* 31 3 11 | Copper. stan.. 3 mos. 30 11 10i 31 10 74 ! Copper, electrolytic .. 33 10 0 34 0 0 to to 31 0 0 35 0 0 ! Copper, elec., wire bars 34 0 0 35 0 0 Lead, so ft. spot . . 13 8 9 13 13 9 Lead. soft. forward . . 13 10 0 13 15 0 Speller, spot .. .. 13 7 6 13 15 0 Spelter, forward . . 13 10 0 13 17 6 Tin. Flan., spot . . 22? 15 0 227 2 S Tin. stan., 3 mos. . . 216 7 G 219 15 0 FOREIGN EXCHANGES FLUCTUATIONS IN LONDON British Wireless RUGBY, June IS The following rates on foreign exchanges are current, compared with the cabled quotations on June 17 and par:— June IS June 17 Par Montreal, dol. .. 4.93% 4.94'4 4.866 New York, dol. . 4.92 V, 4.92% 4.806 Paris, fr. .. 74%, 74% 124.21 Brussels, belsa . 29.16 29.12 35.00 Genera, fr. .. 15.08% 25.07 V, 25.22 Amsterdam, fl. . 7.26% T. 26 12.10 Milan, lire . . 59% 60%« 92.46 - Berlin, r.m. .. 12.24 12.02 20.43 Stockholm, kr. . 19.39 V* 19.39% 18.109 Copenhagen, kr. . 22.39 V, 22.39% 18.159 Oslo. kr. .. 19.90 V, 19.90 V, 18.159 Vienna, sch. . . 26% 26 34.585 Prague. kr. .. 118 Helsirigfors, mark 226% 226' S 1—9.23 Madrid, pes. . . 36 A? Lisbon, escu. .. 110% 110'e 110 Athens, dr. .. 516*- 515* Bucharest, lei. . 482% a f KiodeJaneiro.mil. 4%d* 4%d* 5 Buenos Aires, dol. 35d* 35d* 47 613 d Montevideo, dol. 39% d* ud 51a Bombay, rupee . 18% d l?%d Ld Shanghai, dol. .. 19% d ' 9 , Ba , Hongkong, dol. . 28'„ d 2f-i*d Yokohama, yen . 14% d 14% d 24.08 d Balavia, fl. .. 7.23% 7.24% Belgrade, din. .. 216 217 2< 6.31 •Sellers. NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South Wales! quoted the following dollar-sterlinc rates yesterday, subject to alteration without notice: United States Canada Conversion dollar bills received for collection and sale dollar drafts and telegraphic transfers . . . . 4.92 .4.92 purchase dollar bills .. 4.95 4.95 On a New Zealand currency basis these rates are equivalent to: — Selling: United States Canada T.T 3.95% 3.95% On demand . . 3.95® s 3.95®,, Baying: On demand .. 4.01% 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 notice:— T.T. On Demand To £1 NZ. Currency Selling Buying Selline U.S.A.. dol. . . 3.95% 4.00% 3.95% Canada, dol. .. 3.95% 4.00% 3.96% France, fr. . . 59.29 60.89 59.34 Noumea, fr. .. 58.54 61.94 58.59 Papeete, fr. . . 58.54 61.9 4 58.59 Belgium, belgn . . 23.119 Germany, r.m. . . 9.626 Italy, lire . . - . 47.38 Switzerland, fr. . . 11.941 12.416 11.951 Holland, 11. . . 5.718 6.ois 5.722 Java, fl 5.698 5.973 5.702 Sweden, kr. . . 15.459 15.829 15.469 Norway, kr. . . 15.870 1 6.240 1 5.880 Denmark, kr. .. 17.878 1P.24S 17."888 Austria, sch. .. 20.59 Czecho-Slovakia, cr. 94.53 N.Z. pence to Japan, yen . . 17'%. Shanghai. doL .. 25*%, 23®%, 25 Vsa India. ru,ee .. 22 2 %, 22% a 22 J %» Ceylon, rupee .. 22 a %» 22%, 23"/,, Hongkong, dol. .. 35 1 ®34% 55% Singapore, dol. . . 35% a 34% 35%, The cost in New Zealand currency of the pound sterling, and of the principal ; overseas unils, on the latest quotations, is as follows:'Present Price Pur d s d Australia, pound .. 19 10.SI 20 0.00 London, pound .. 24 10.65 20 0.00 Fiji, pound .. .. 22 5.6(1 20 0.00 New York, dollar .. 5 0.67 4 1.31 Montreal, dollar .. 5 0.67 4 1.31 Paris, franc: . . . . 0 4.00 0 1.9S Berlin, reichnmrk .. 2 0.39 0 11.74 Copenhagen, krone .. 1 1.33 1 1.22 Yokohama, yen . . .. 1 6.57 2 0.58 CUSTOMS EXCHANGE RATES Bates of exchange ruling at the announced dates of 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% Wanuua. America, dollars .. .. 4.95 Golden Bear. America, dollars .. 4.92% Sydney Maru, Japan, yea .. .. 14% d Canadian Victor, Caasd*. dollari 4.95%