BUSINESS ACTIVITY

New Zealand Herald, Volume LXXII, Issue 22210, 10 September 1935, Page 5

BUSINESS ACTIVITY

IMPROVEMENT IN JULY BEST SHOWING FOR YEARS MANY INDICATIONS GIVEN Business statistics in July revealed exceptional buoyancy in a month which is normally one of the slackest of the year, according to the latest monthly review of the Government Statistician. The review states that bank debits to individual customers' accounts —a significant index of business activity—are, naturally, considerably below tho seasonal peak, but are definitely higher than in June and substantially above tho July figures for several years past. External trade was relatively busy for a July month, exports being only slightly lower than in June, while imports advanced substantially. Notwithstanding the marked increase in imports, an excess of exports emerged as a result of the month's external trading in commodities, largely due to an exceptionally heavy export of butter lor the time of the year. An indication of increased financial activity is provided by statistics of land transfers and mortgage registrations, which are both higher, in respect of tho amount involved than in any single month since December, 1930. It is a significant indication of a definite turn for tho better in tho economic affairs of the Dominion that in spite of lower wool production and reduced crop yields, statistical indicators of employment and business activity generally continue to maintain a better showing than has been the case for some years past. Present indications point to an improvement in wool prices during tho coming season, while prices of dairy produce have shown continued improvement for some months.

SYDNEY EXCHANGE

YESTERDAY'S BUSINESS

(Received September 9. 7.35 p.m.) SYDNEY. Sent. 9

On tho Sydney Stock Exchange today leading industrial shares were firm. Banks wero quiet, as were gold shares. Fiji concerns were practically unaltered.

This morning's sales included: —Commonwealth bonds: 3 per cent, 1038, £100; 3 3-8 per cent, 1919, £97 15s; 4 per cent, 1941, £lOl los; 1957, £lO2 1 os; 19(31, £lO4 3s 9d. Commercial Bank of Sydney, £lB 4s; Associated News, preference, 235; Australian Glass, 81s; Colonial Sugar, £43 ss; Dunlop-Perdriau, 15s 7 Ad; Howard Smith, 18s 6d; James Stedman, 19s 6d; .Morris Hedstrom, 24s ljd; WilcoxMofflin, lis 3d. Later sales included: —Bank of New South Wales, £33 ss; Commercial Bank of Sydney, £lB 4s; Mercantile Mutual' Insurance, 29s 6d; Associated News, 225; ditto, preference, 235; Australian Gas, A shares, £7 15s Cd; British Tobacco, 40s 3d; Hume Pipe, 14s 4d; Australian Iron and Steel, preference, 25s 9d; Dunlop-Perdriau, 15s 4 id; Farmers', 26s 9d; David Jones, 425; General Industries, 18s 9d; Newcastle Gas, 13 shares, 13s 3d; Sargents, 21s lid; Anthony Hordern, 19s Gd; Mount Kasi, 23s 3d; Tavua, 14s 4d; Koroero, 25s 9d; Mineral Development, 8s 6<l; Hawang, 7s lid.

Melbourne sales included:—Nestle's, preference, 35s 9d ; G. J. Coles, 67s 6d; Herald and Weekly Times, 625; South Broken Hill, 965; Norths, £7 8s; New Morobe, £l7; Loloma, 97s 6d; Emperor, 24s IJd.

FOREIGN EXCHANGES STERLING WEAKER AGAIN British Wireless RUGBY, Sept. 7 Tho following rates on foreign exchanges are current, compared with the cabled quotations on September 6 and par: Sept. 7 Sept. 6 Par Montreal, dol. .. 4.91% 4.05 4.800 New York, dol. . 4.03 4.93'%. 4.860 Paris, fr. .. 74'%, 74'%„ 124.21 Brussels, belga . 29.33 29.36 35.00 Geneva, fr. . . 15.16% 15.17% 25.22 Amsterdam, fl. . 7.29% 7.30/4 12.10 Milan, lire .. 60% 60? / l „ 92.40 Herlin, r.m. .. 12.25 12.27 V, 20.43 Stockholm, kr. . 19.39 V, 19.39'/, 18.159 Copenhagen, kr. . 23.39'/, 23.39'/, 18.159 Oslo, kr. . . 19.90'/, 19.90'/, 18.159 Vienna, sch. . . 20'/, 20% 34.585 Prague, kr. .. 119%„ 119% 104.25 Holsingfora, mark 220% 220% 129.23 Madrid, pes. .. 30% 30% 25.221 Lisbon, escu. .. 110% 110% 110 Athena, dr. .. 513* 517* 375.00 Bucharest, lei. . 025* 025* 813.6 Rio da Janeiro, mil. 4'/id* 4%d* 5.899 d Buenos Aires, dol. 35d* 35d* 47.619 d Montevideo, dol. 39d 39% d 51d Bombay, rupee . 18% d 18% d 18d Shanghai, dol. . 18%, d 17%, d Hongkong, dol. . 24223%, d3 3 %, d - Yokohama, yen . 14% d 14% d 24.58 d Batavia, fl. .. 7.28% 7.29% 12.10 Belgrade, din. .. 217 217 276.31 •Sellers. NEW ZEALAND QUOTATIONS The Associated Banks (other than tho Bank of New South Wales) quoted the following dollar rates yesterday, on a New Zealand currency basis, subject to alteration without notice: — Selling: United States Canada T.T 3.95 3.90% On demand .. 3.95% 3.96% Buy inn: On demand . . 3.99% 4.01% Following arc tho latest rates for purchases and sales of foreign exchange quoted by the Bank of Now South Wales, Auckland. They are subject to alteration without notice:— T.T. On Demand To £1 N. 71. Currency Selling Buying Selling U.S.A., dol, .. 3.94% 4.00% 3.95% Cana<ln, dol. .. 3.90 4.01 3.90% France, fr. .. 59.43 61.03 59.48 Noumea, fr. .. 58.68 62.08 58.73 Papeete, fr. .. 58.68 62.03 58.73 Belgium, belga . . 23.247 Germany, r.m. .. 9.630 Italy, lire .. .. 47.83 Switzerland, fr. .. 12.005 12.480 12.015 Holland, fl. .. 5.744 6.044 5.748 ,Tava, fl 5.738 6.013 5.742 Sweden, kr. . . 15.459 15.829 15.409 Norway, kr. .. 15.807 16.237 15.877 Denmark, kr. ..17.878 18.248 17.888 Austria, sch. . . 20..>1 Czecho slovakia, or. 95.41 N.Z. pence to Japan, yen .. 17' Vi» Shanghai, dol. .. 23%, 21% 23% India, rupee . . 22 a %, 22%, 22 J %, Ceylon, rupee .. 22"A, 22%, 22 J %, Hongkong, dol. .. 30'%, 29%, 30"/,, Singaporo. dol. .. 35%, 34%, 36%, The cost in Now Zoaland currency of tho pound sterling, and of the principal overseas units, on the latest quotations, is as follows: — Present Price Par sd s d Australia, pound .. 19 10.81 20 0.00 London, pound .. 24 10.65 20 0.00 Fill, pcund , . 22 5.66 20 0.00 New Yolk, dollar .. 5 0.55 4 1.31 Montreal, dollar .. 5 0.40 4 1.31 Paris, frnnc . . . . 0 3.99 0 1.98 Berlin, reichmark .. 2 0.33 0 11.74 Copenhagen, kron# .. 1 1.33 1 1.22 Yokohama, yen 1 5.57 2 0,68

CUSTOMS EXCHANGE RATES Hates of exchango ruling at the announced dates of doparture of vessels named nro shown in the following table. They are subject to confirmation by tho Customs Department when the exact time of departure is learned on arrival of the vessel in New Zealand Finally declared rates are marked*:— Melbourne Maru. Japan, yen . . 14%, d C.'anadinn Planter, Canada, dollars 4.9o'>i Sheaf Holme, America, dollars .. 4.907, Australind America, dollars 4 97>V Ifl Capo York, America, dollars . . 4.9f% Sydney Maru, Japan, yon .. .. 14 7 / 33 d Canadian Conqueror. Canada, dol. 4.99'/ 4