WHITE PINE SUPPLIES

New Zealand Herald, Volume LXXIII, Issue 22595, 7 December 1936, Page 5

WHITE PINE SUPPLIES

STOCKS IN WEST COAST

ASSURANCE OF CONTINUITY BUTTER BOX MANUFACTURE The necessity for keeping up the supply of white pine for the manufacture of hutter boxes in New Zealand is fully recognised hy West Coast sawmillers. The need for a continuity of supplies was stressed hv the Minister of Lands, the Hon. l'\ Langstone, as commissioner of State forests, when discussing the position last week. The sawmillers in the West Coast districts, where the greater proportion of white pine was grown, had given assurances that the local demand, when it was ascertained, would have priority oxer export commitments, said Mr. J. AW Callwell, export secretary of the A\est Coast Sawmillers' Association. For various reasons, the quantities required hy some local bo.xmakers were Hot known until very late in the season, said Mr. Callwell. There had been a sudden demand for delivery during November and December, which was taxing to the utmost the capacity of the few mills working in white pine on the West Coast. An added difficulty was that transport and other costs had increased during the last three months. This was hindering the full utilisation of the capacity of those mills where the transport charges were heaviest. In order to avoid in future seasons the uncertainty concerning the quantity of white* pine required from the est Coast lor the North island, the commissioner of State forests was originating a working plan whereby the necessary supplies for the North Island would be defined, and would be delivered all the year round. This would enable the export trade in white pine to carry on side by side with the local trade, and without prejudice to either.

FOREIGN EXCHANGES

QUOTATIONS IN LONDON (Received December (J, 5.5 p.m.) British Wireless HUG BY, Dec. -1 The following rates on foreign exchanges are current, compared with the cabled quotations on December 3 and par:— Dec. 4 Dec. M Par Montreal, d 01... 4.1)0% 4.00% 4.800 New York, dol. 4.00% 4.00% 4.80 Paris, fr. .. ] 05V;„ ]O.V/ 1B 105.00 Brussels, belga.. 2H.07 2H.00% 35.00 Geneva, fr. .. 21.32% 21.33% 25.22 Amsterdam, gr. ».oi 10.1 % vj.iii Milan, lire .. 03% t».'J02.00 Berlin, r.m. .. 12.18 12.18% 20.43 Stockholm, kr... 1!>.3!)% 10.30% 18.150 Copenhagen, kr. '-''-MO 22.10 18.151) Oslo. kr. .. 311.00 10.1)0 18.15!) Vienna, sell. .. 'JO 1 ' 20% a 1.585 Prague, kr. .. 138% 138% 301.25 Helsingfors. mark 220% 22(1% 103.23 Madrid, pes. .. r>st s."if 25.22 L Lisbon, escu. .. 11l) 1 /,, 310y.„ no Athens, dr. .. 517% 5IT 1 /, 375.00 Bucharest, lei... 007% 007% 813.0 Rio de Janeiro, m. 4',<d* 4%d 5.R00d Montevideo, dol. 3!)%d* 3!>%d 51 d Bombay, rupee.. 18% d 18% d 18d Shanghai, d 01... Jl 17 / 32 d 14 lT / 32 d Hongkong, dol. 14"/„d 11 1 Vied Yokohama, yen 13 01-01dlld 21.58 d Batavia, gr. .. 5.07% 8.07% 12.10 Belgrade, din... 213 213 270.31 Warsaw, zloty. . 20.00 20.00 43.38 •Sellers. {Nominal. (Received December 0, 5.5 p.m.) LONDON, Dec. 5 On the foreign exchange market today the following quotations ruled: New York, 4.892 dollars; Paris, 105 3 A» francs; Batavia, 8.97J guilders. NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates on Saturday, on a New Zealand currency basis, subject to alteration without notice: Selling: United States Canada On demand .. 3.03% ! T.T 3.02% 3.02% i Buying: On demand .. 3.07% 3.07%

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:— To £1 N.Z. ' T.T. On Demand

Currency Selling Buying Selling U.S.A., do!. .. 3.02% 3.07% 3.93% Canada, dol. .. 3.02% 3.1)7% 3.03% Austria, sch. . . 20.50 Belgium, belga 23.137 Czecho'vakia, cr. 110.13 Denmark, kr. . 17.803 18.203 17.003 France, fr. .. 81.25 Oerninny, r.in. . 0.708 Holland, fl. .. 7.10 L Italy, liro . . 74.01 Java, fl. .. 7.153 Norway, kr. .. 15.801 Sweden, kr. .. 15.480 Switzerland, fr. 17.043 Noumea, fr. . . 82.88 Papeete, fr. . . • 83.03 N.Z. pence to— Hongkong, dol. 18 25-32 18V, 18 40-04 India, rupee .. 22 21-32 22 11-32 22 41-04 Ceylon, rupee . 22 21-32 22 11-32 22 41-04 Japan, yen .. 17 20-01 Shanghai, dol. . 18 5-10 17 25-32 18 10-01 Singapore, dol. 35 13-04 3-1% 35 3-10 Chefoo, dol. .. 18 20-01 17 'J.S-32 18 7-10

The cost iii New Zealand currency of the pound sterling, and of the principal overseas units, on the latest quotations, is as follows: —

Present Price Par 8 d s (I London, pound .. 24 10,05 20 0.00 Australia, pound .. 10 10.81 20 0.00 Fiji, pound 22 5.00 20 0.00 New York, dollar .. 5 0.85 4 1.31 Montreal, dollar .. 5 (1.00 4 1,31 Paris, franc. . . . 0 2.83 0 2.28 Berlin, reichsmark .. 2 0.50 0 11.74 Copenhagen, krone ~ 1 1.33 1 1.22 Yokohama, yen .. 1 5.30 2 0.68 CUSTOMS EXCHANGE RATES Bntes 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 tho exact time of departure is learned. Finally declared rates are marked*:—■ Canadian Constructor, Canada, dollars 4.SB"i City of Manchester, America, dollars 4.01 Makura, America, dollars .. *4.8!) Makura, Canada, dollars . . *4.87 GOLD AND SILVER QUOTATIONS IN LONDON (Received December 0, 5.5 p.m.) LONDON, Dec. 5 Fine gold is quoted to-day at £7 Is 11 Jd an oz., compared with £7 Is Ojd yesterday. Silver was quoted yesterday at 21 ,'i-lGd spot and forward, compared with 2.1 id, both positions, on Thursday. Tho quotation for silvei at per fine 07.. is 22sd, compared with 22 5-16(1 on Thursday. The following is a summary of the fluctuation in the prico per ounce of fine gold this year:— £ s d Highest price, November 8.7 2 8% Lowest price, September 23 . (i 17 2% November 'JB . .. ..7 2 0 November 30 . •• .. 7 1 11 Decembei 1 . . .. ..717 December 2 .. .. ..718% December 3 .. .. ..710% December 4 .. . . ..71 0% December 5 .. .. ..71 11%

R. FOWLER, LIMITED R. Fowler, Limited, a pottery company, Sydney, reports a net profit of £19,61(5 for the year ended September MO, compared with £17,771 the previous year, and £12,Q98 for 1933-34. An interim ordinary dividend of 4.Jcl a share lias been paid, and a linn 1 dividend at tho same rate is recommended, making 61 per cent for the year, compared with 5.21 per cent in the previous year.