FINANCIAL AND COMMERCIAL

New Zealand Herald, Volume LXXVII, Issue 23850, 28 December 1940, Page 3

FINANCIAL AND COMMERCIAL

TRADE OF BRITAIN RETURN FOR NOVEMBER A DECLINE IN IMPORTS (■Received December -7, 7.30 p.m.) British Wireless LONDON, Dec. 20 Imports to Britain during November, states tin! Hoard of Trade, reached a total of £72,930,436, compared with £85,09"),.'*>05 in October. The ligures tor food, drink and tobacco were £27,721,000, as against £32.607.000 in October and £38,057,000 in November last, year. Exports were £21,061,810, compared with £23,390,911 in October and £37,360,327 in November last year. Returns for November in the past three years compare as follows: Nov. Imports Exports Jim . . £77,073,018 £ t {,'j'jri . . «:»,»«*,<mm) ri7,!5(i0,3'27 :ioio 7-j,u:iv,i:',a 21,001,810 The excess of imports over exports last month was £51,268,626, against £40.627,673 in November of 1939. Corresponding returns for the 11 months of the past three years are as follows'—• .Jan.Nov. Imports F.xports 1038 .. £B4o,Uß'2,(i'_' t £ j:V2,000.">78 1031) .. K00,8f)5,0'2:{ 308,08(1,810 1010 1,0:10,71 V.M7 I'-'o.atvi'jo The apparent adverse balance for the 11 months of th" year is £010,369,027, compared with £102,208,813 for the same period of 11)39. BANK OF ENGLAND RETURN CHRISTMAS NOTE CIRCULATION LONDON, De.c. '_>« A further increase of £3,800.000 in British note circulation to £616,900,000 is the feature of the Bank of England return for tho week ended December 25, In the two weeks preceding Christmas the expansion totalled £12,400,000. Deposits have risen by a further £5,400.000 to £199,400,000, largely as the result of an increase in bankers' deposits, but advances were only £200,000 higher at £4,000,000. Coin and gold bullion are £IOO,OOO down at £1,100,000, and the total reserve shows a further fall of £3,900,000 to £14,200,000. The proportion (reserve to outside liabilities in the banking department) is 7.14 pur cent, compared with 9.30 per cent and 14.66 per cent in the two preceding weeks, respectively. The discount rate remains at 2 per cent. TIIE CITY MARKETS

SALES GENERALLY GOOD Hothouse tomatoes, eased in value from the Christmas sales at the City Markets yesterday, while heavier supplies of outdoor fruit continued to come forward. Good quality dessert peaches had a fair demand and choice lines of coloured plums and apricots realised high prices. A few local new season's apples brought fair rates. Good supplies of peas and carrots brought high rates, and cabbages and new season's pumpkins also sold at high values. The market was well supplied with lettuce, beans, onions and potatoes, while marrows and cucumbers were very plentiful. With a slackening of interest after the Christmas demand, the poultry sale was very small. Prices were: Fruit.—Apples, cookers, Os to 13s a ease; Astraehan, los to lis; Gravenstein, los to 13s; tomatoes, hothouse, (id to is Id per 'lt; outdoor, No. 1. fid to 8d; others, 2d to Id; oranges, Australian, iss to '_'*s (id a case; bananas, i'_'s lo 'J.Ys (id; lemons, lis Oil to lils (id a Vbushel case, according to grade mid count; peaches, dessert, Us to Us a ca»e; plums, dessert, coloured, Us to r_'s; small, Is (id to (is (id; cooking. Is to (is; apricots, Thames. Os to J.'is; strawberries. Captain Cook, exlra choice, is (id to Is lod a chip; others. Is Marguerite, extra choice, Is Id; loganberries. Is I'd to Is id; wonder berries, Is 3d to Is ."><!. Field Produce.'—Asparagus, 3d to Is a bundle; beet. ltd lo Is Id a dozen; broad beans, 3s to Is (id a case; carrots. 3s to lis a bag. or Is !>d to '_'s (id a dozen; cauliflowers. 3s to Ks (id a sack; cabbages. Is (id to l'_'.s (id; cucumbers, i's to 5s a dozen; French beans. Id to (id per lb; stringless beans, 7d to D'-jd; green peas, (is (id to lis (id a bag; kuniaras, Island, Id per lb; Tauranga, 3d to 3' 4 d; leeks, 3d to Id a bundle; lettuce, 'Js (id to (is (id a case; Marrows, '_>s (id to 3s (id a dozen; onions, new season's, '_'s (id to (is (id a bag; potatoes, new, No. 1. (id tn Is; No. Is to Is (id; Pumpkins, new season's. 3d to 1 1 id per lb; parsnips, 'Js (id to ."is a bag, or Is to Is (id a dozen; radish. Is to Is (id; rhubarb. 'Js to Is 'id; spinach. Is to Is (id; spring onions. Is 3d lo -Js lid a bundle; swedi's, new season's, .3s (id lo 5s (id a bag; turnips, Is to Js (id a dozen. Eggs and Butter.—Eggs: Hen (standard grade), Is UV_.il a dozen; duck (standard grade), Is 3! a d. Farmers' butter, Is to Is '_' d per lb. NEON MERGER PROPOSED

\ Directors of Scanlan's New Neon. Limited, New Smith Wales, propose to | merge the company's interests with | those "1 Claude Neon Industries, j Limited. Victoria. The terms provide for the transter ot I shares in Sciubiu's New Neon. Limited. in exchange lor an allotment of shares I in Claude Neon Industries, Limited, on ! the ha-is of seven vully-paid shares of | L'l each in Claude Neon Industries lor i 10 fully-paid shares of (J I each in Scan- ' lan's New Neon As the capital of Scanlau's New Neon is C 70.000. (he allotment: would be 10.000 shares in Claude Neon Industries, making the latter company's capital L''!()•"),•'?()•">, I'nless holders of !K) per cent of the shares in Scanlan's shall have ratified (he agreement liy January 18 next, ihe directors of the other company may re!use to proceed with (lie agreement. FREE LOANS TO BRITAIN (Received December '.27, 7.M0 p.m.) British Wireless LONDON, Dec. '2' i During the week ended December -1 (he number of loans tree ot interest received by the Treasury was 10.'}. totalling Cl.->:{.'>*7. The 11 >1 a I amount received is ;C2"».()97*,3UG and the number of loans 11,1 SI. FOREIGN EXCHANGE LONDON, Dec. '2O Foreign exchange rates are:—Neiv York (dollar), t.o:t; Montreal (dollar), 1.15; Switzerland <l'r.). 17i; India (rupee), Is (id; Honwkoim- (dollar), I ."id; Kobe (yen), Ml. id; Shanghai (dollar), :i : '„d; Awntino (peso), 17.015; Slock holm (Nr.), Hi.itO. SHAREMARKET INDICES London Financial Times (1026 equals 100): < >ov(. Home Indus- (iold securities rails trials mines December U» . II 1.8 41.4 SU.7 177.1t Decemiter '_'() . 111.!) 11.1 80.7 ,17s. 1 December 20 . 1 I '2.0 4 1.4 87.4 178.5 New York Dow Jones' (192(5 etptals 100): — •2<> Hail- no Shares roads Industrials sold December '2O . '27.il r2H.sn suo.ooo December '2l . '27.17 I'iS.S!) 4'20,(l()0 December '2l . '27.'20 1-28.89 B,'io,oot) December '2(> . '27.:t2 120.02 8-10,000 .Highest and lowest in Kails, 3.1.UU- —24.16; industrials, 151.22 —121.4.