COMMERCE AND FINANCE

Otago Daily Times, Issue 22065, 22 September 1933, Page 5

COMMERCE AND FINANCE

LONDON WOOL SALES ‘ (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, September 20. At the wool sales 10,853 bales were offered, including 6464 from New Zealand; 9885 bales were sold. There wa« active Home and Continental coni" petition and a very firm tone. The nulk of the offerings was sold at full ‘ opening levels. . . , , , The New . Zealand sales included greasy merinos, “ Anchor, Roeklands, top 15Jd, average 14|d; scoured merinos, “Shelton Downs,” 26d. Messrs H. Irwell and Co., woolbrokers, London, report as follows: —The market is strong and active. Prices are higher by 16 per cent, for fine and 10 per cent, to 15 per cent, for medium and coarse crossbreds. , „ Messrs Murray, Roberts, and Co., Ud., have received the following wool market Quotations from their London agents, dated September 20:—60/64’s New Zealand merino, yielding 48 p6r cent., lota; 56’$, yielding 64 per cent., 12Jd; 50 s, yielding 70 per cent., 9£d; 44/46’s preparing, yielding 76 per cent., 7d; 44/46 s carding: yielding 74 per cent., 6id; 40/44's. yielding 75 per cent., 6d; 36/40 e, yielding 76 per cent., 6d; 46/48’s mixed preparing and carding, yielding 74 per cent., 7?d; 48/50’u mixed preparing and carding, yielding 72 per cent., B}d. BUYING x WELL SPREAD (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, September 20. Dawson and Co. report that the selection on the opening day was the best for many years. The buying was well spread, no one section obtaining more than a small share. There was a strong and confident tone, with evidence of ■trong available purchasing power. Dalgety’s report says that the market .■was at first hesitant, but soon became ■trong. There will probably be a further advance. DAWSON’S REPORT (United Pres* Association.) (By Electric Telegraph—Copyright.) LONDON, September 20. - Dawson and Co.'s report says: “We must forget the lower levels and pessimism of 1932. The broadening and and strengthening of. business m most spheres of commerce, and the peak consumption which has developed . for all finer wools, demand a new eavisagement of the whole position. It would be foolish to under-estimate the machinery pressure of the moment and the fact that supplies will be more plentiful towards the end of the year, but we should take into account the general improvement in business and financial conditions. If a balance i» struck, the position appears to he fairly sound. The trade may rest comfortably in the hope that immediate fluctuations will be of a minor character. The market shows evidence of strong available purchasing power. The order books of many mills are full for months ahead, especially in the woollen section, THE SYDNEY OFFERINGS (United Press Association.) (By Electric Telegraph—Copyright.) - SYDNEY, September 21. Other prices at yesterday’s local wool sales included 2ljd for “Gnoulamein morse” fleece. Necks made to ISJd, broken 18jd, pieces 17jd, lambs 18£d, bellies 13id, comeback 16id, crossbred 15jd. GOOD QUALITY WOOLS FIRM. (By Electric Telegraph—Copyright.) (United Press Association.) SYDNEY, -September 21. (Received Sept. 21, at 11 p.m.) At the: wool sales .11,930 bales were offered, and 10,485 were sold, while 371 were disposed of privately. All goodSuality wools were firm at the previous ay’s rates, but thin, hurry, and dusty ■orts were again irregular. Skirtings and lambs wools were very firm at recent rates, and greasy merino sold to 22d tor 10 bales from Garah and eight from Boggabilla. ■ The average price of wool for the first three days of this week in Sydney was £lB 5a 2d per bale, or 14.2 d per lb. Mr A. K. Trethowan, a leading wool authority, told growers at Albury that the prices which now were being realised were legitimate prices, and likely to be maintained. Substitutes which were requisitioned when wool was high were unable to compete with the real article and' many were wiped out. Real wool to-day'was wanted, not substitutes, but the chief factor in the present good prices was the moderate shortage of wool and the fact that when prices were low growers met the market and sold at low levels., '

LOCAL AND OVERSEAS MARKETS.

THE SHARE MARKET

DUNEDIN STOCK EXCHANGE National Mortgages were dealt in on the Stock Exchange yesterday, a parcel changing hands at £2 10s. The market closed with a buyer at £2 9s and no sellers forward. Two parcels of Bell-Kilgours were disposed of at Is 7d and one at Is 7Jd, buyers’ closing offer of Is 7d being one halfpenny below sellers’ requirements. Six sales of Bell-Hoopers at Is were recorded, the closing buying and Selling quotations being ]s and Is Ojd respectively. King Solomons changed hands at 3s 6d, cum dividend, sellers’ final request remaining at the same figure, while buyers would not give more than 3s sd. Buyers of Mosgiel Woollens were prepared to give up to £8 15s, but sellers would not accept less than £9 10s. Alexanders were inquired for at 18s 6d, hut no sellers came 1 forward.

NORTHERN EXCHANGES (Per United Press Association.) The following business was done on ’Changes yesterday: — Auckland.—Sales: Bonds: 1940, 4 per cent., £101; Hamilton Borough, 1944, 6 per cent., £102; Commercial Bank of Australia, 17s; E. S. and A. Bank, £5 17s 6d; National Bank of New Zealand, £4 5s 6d; National Bank of A’asia (paid), £l3 ss; Bank of New South Wales, £34; Bank of New Zealand, 475, 465; New Zealand Insurance, 65s (two), South British Insurance, 74s 6d; Renown Collieries, 2s; Auckland Gas, 23s 7d; National Timber, 6s; New Zealand Breweries, 36s 6d (two); Bycroft, Ltd., 395; New Zealand Newspapers, 28s; New Zealand Refrigerating (cont.), 9s lOd; Alexander (paid), 23s 9d, (cont.) 21s 3d; Bell-Kilgour, Is 7d (two); Gillespie’s Beach, 2s 3d; Mataki, 2s 4d; Nokomai, 3s; Waihi, 26s 2d; Waihi Junction, 4s 4d; Ffeshford, 9d; Mount Lyell 22s Bd. Wellington.—Sales: Commercial Bank of Australia (late Wednesday), 17s (two); National Bank of New Zealand, 85s 6d (three), 85s; Bank of New Zealand, 46s 3d; do (long term), 345; Union Bank, £lO 6s 6d; Auckland Gas, 23s 7d; Christchurch Gas, 28s 3d, 27s lOd (two, late Wednesday); New Zealand Refrigerating (paid), 19s 3d; do (cont.), 9s 9d; New Zealand Breweries, 36s 6d; Byeroft, 39s 3d; Alexander (cont., cum div., late Wednesday), 19s 9£d (three); Gillespie’s Beach, 2a*3d; Mount Lyell, 22s IOJd, 22s 9<L

Christchurch. —Salea: New Zealand Government 3i per cent. Inscribed, 193943, £IOO 10s; Commercial Bank of Australia, 17s Id (four), 17s; Commercial Bank of Sydney, £lB 7s 6d (two); Bank of New South Wales, £34 (two), £33 17s 6d, £33 12s 6d; Union Bank of Aust., £lO ss; Goldsbrougb, Mort, 30s, 29s lOd; New Zealand Refrigerating (£1 paid), 19s 4d, New Zealand Refrigerating (10s paid), 9s lOd (six); New Zealand Breweries, 36 s Id, 36s 3d (two); British Tobacco (cum div.), 37s 6d (2); Dunlop Rubber (cum div.), 18s 3d (three); Mount Lyell, 22s 7d, 22s 8d (six), 22s 9d; Alexander Mines (13s 6d paid, cum div.), 20s 6d; Bell-Hooper (9d paid), Is; King Soloman (cum div.), 3s 6d; Wailu Grand Junction, 4g sd. ' Sales reported: Bank of New Zealand, 475; New Zealand Refrigerating (10s paid), 9s lid; Commercial Bank of Aust. (late sale Wednesday), 17s 1-Jd; Commercial Bank of Aust., 17s 13d. FOREIGN EXCHANGES

(British Official Wireless.) (United Press Association.) (By Electric Telegraph—Copyright.)

PRICE OF GOLD (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, September 20. The latest quotation for gold is £6 13s 9d per ounce. AUSTRALIAN STOCK EXCHANGES (By Electric Telegraph—Copyright.) (United Press Association.) SYDNEY, September 21. (Received Sept. 21, at 11 p.m.) On the Stock Exchange to-day there was marked activity in all classes of shares, there being an exceptionally large turnover, and company shares in some cases made sharp gains. Banks were firmer, and gold and tin ventures were all freely traded at enhanced rates. Bonds made headway. The following sales were made: — Bank of New South Wales, £33 7s 6d; Commercial Bank of Sydney, £lB 7s 6d; Union Bank, £lO 15s; National Bank (£5 paid), £6 17s 6d; Queensland National Bank, £5-12s 6d; Colonial Sugar, £59 17s 6d; Australian Provincial Assurance, 12s Id; Associated News, 18s lid (New Zealand delivery, 18s lid); pref., 19s od; Howard Smith, 12s; Australian Gas A, £7 ss; Gordon and Gotch, 36s 3d; Berlei, 27s 3d; ditto (cont.), ISs sd; British Tobacco, 37s 4Jd; Dunlop Perdriau, 18s 10id; Goldsbrough, Mort, 30s; Tooths, S9s 9d; Tooheys, 2S's 7id; Anthony Hordern, 11s; ditto (pref., New Zealand delivery), 19s 10id; David Jones, 32s 9d; Farmers, 14s 7d; General Industries, 9s 7d (pref., 17s 6d); Mark Foy, 14s 3d; Standard Cement, 16s; Automatic Totes, 15s lid; Hoyts (B pref.), 7s 3d; Meggitts, 20g 6d; ditto (cont.), 4s 9d); Electrolytic Zinc, 245; Nestles (pref.), 33s 9d; Victoria Nyanza, 13s; Henry Jones, 38s; Wilcox Mofflin, 9s 4d; Wunderlich, 21s 9d; J. M'Grath, 28s 4id; Lustre Hosiery, 16s; Australian Iron and Steel (pref.), 16 s 9d; Goodyear (pref.), 28s; Drug Houses of Australia, 19s 4id; Bulolo Gold, 98s 3d; Bulolo Deposits, Is lOd; Placer Development, £l4 8s; Broken Bill Proprietary, 40s; South Broken Hill, 675; North Broken Hill, 88s Sd; Zinc Corporation, 38s Od; Kuala Kampar, 9s Id. MELBOURNE, September 21.

Adelaide Steam, 255; British Tobacco, 37s 9d; Goldsbrough, Mort, 80s 3d; Mount Lyell, 22s 9d; Howard Smith, 12s. MYERS EMPORIUM (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, September 21. (Received Sept. 21, at 8.30 p.m.) Myers Emporium, Ltd., Melbourne, discloses a profit of £206,275 for the year, compared with £154,295 for the previous year. They have declared a half-yearly dividend at the rate of 6 ;per cent, per annum, and the interim dividend was at the same rate. AUSTRALIAN MARKETS (United Press Association.) (By Electric Telegraph-Copyright.) SYDNEY, September 21. (Received Sept. 21, at 8.30 p.m.) The wheat trade is dull. Bagged, on sidings, is quoted at 2s sd, and bulk at 2s 4d, equal to about 3s, ex trucks, Sydney. Flour, £lO. Bran and pollard, £5 10s, Potatoes: Tasmanian, £5 10s; Victorian, £4 l° s - . „ . „ , Onions: Victorian Brown Spanish, £4. Oaten hay, £7 ss. • Maize: Yellow, 4s 2d; white, 4s. ADELAIDE, September 21. Wheat: Growers’ lots, 2s 10Jd. Flour: Bakers’ lots, £8 10s. Bran and pollard, £5 2s 6d. Oats; Algerian, 2s Id.

MINING NEW BENDIGO COMPANY. After considerable delay, due to circumstances which could not have been foreseen by the directors, work on the tunnel at the New Bendigo Company’s mine is now in full swing, and good progress is being made. Mr Charles Todd, one of the directors, has just returned from a visit to the mine, and he has expressed himself as satisfied with what has been done. It has to be borne in mind that before any actual drilling could be done much work of a preliminary nature was necessary. First of all, a road from the foot of the hill to the mine had to be made; then huts had to be erected, machinery purchased arid installed, the tunnel cleaned out, and rails laid to the face. All this has now been aeomplished, and driving is proceeding apace, 60 feet having already been driven. Difficulty occurred in getting suitable machinery, some of it not being available in the Dominion, and attempts to use makeshifts proved unfortunate. The mine is now equipped with a first-class plant, and the miners are enthusiastic about the rate at which they can drive. BULOLO DREDGING. Mr Fred G. Dunn, New Zealand attorney for Clutha Development, Ltd., advises of the receipt of the following production report of the Bulolo dredges for August:— For the month of August the total gross production amounted to 12,134 ounces of bullion containing 8045 ounces of fine gold from 488,900 cubic yards. Estimated working profit, 645'3 ounces fine gold. The production is equivalent to £60,337 10a and working profit to £48,247 10s on the basis of £7 10s (Aust.) per fine ounce of gold. Dredge No. 3 wilj probably be in commission about the middle of October, when it will dig flotation for about one month before reaching payable gravel. BELL-HOOPER COMPANY. The report on the Bell-Hooper mine for the week ending September 16, 1933. states: The main face drive was advanced 22 feet on a rising bottom, showing fair gold prospcts. No. 2 cross drive east advanced 24 feet, and a little gold is seen on the bottom. No. 2 cross drive west was advanced 10 feet, showing fairly good gold. No. 1 cross driye east advanced 14 feet, and shows much improved prospects of gold. The No. 3 slope drive going out west nearest to the main face was advanced 24 feet, showing good gold for that distance. Only development and prospecting work is yet in hand, and a total of 12oz Idwt of gold wa 8 washed up for the week. DAIRY PRODUCE The Otago Farmers’ Co-operative Association of New Zealand, Ltd., is in receipt of the following cablegram from London, dated September 19: — Butter.—Finest, 106 s to 108 s; first grade, 103 s to 104 s; firm. Cheese. —White, 53s 6d; coloured, 54s 6d; quiet. The New Zealand Loan and Mercantile Agency Company, Ltd., has received the following cabled advice from its London house dated September 20: — Butter. —Finest, 109 s; firsts, 106 s. Cheese.—White, 545; coloured, 555; market firm, with upward tendency. COOK ISLANDS FRUIT (Per United Press Association.) WELLINGTON, September 21. According to a Gazette notice issued tonight additions are made to Cook Islands fruit regulations with a view to securing the eradication of diseases from citrus trees and preventing the spread of any disease. LONDON WHEAT MARKET (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, September 20. The wheat cargoes market is dominated by the exchange fluctuations, both buyers and sellers awaiting developments. Quotations are unchanged. A feature of the freight market is the commencement of bookings for the new Australian crop at very low figures. Five steamers are booked for Western Australian wheat for December and February to Hechterranean ports, the United Kingdom, and the Continent at 22s 6d bulk and 25s bags. ■

THE DOLLAR (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, September 20. Exchange on New York is 4.85 J dollars to the £l. THE FRANC LONDON, September 20. The franc is quoted at 78 15-16. CHILLED BEEF NEW ZEALAND SHIPMENT. The promising experiment of shipping New Zealand chilled beef to England, states the Meat Board, resulted on the second occasion in complete success. A detailed report is received from the New Zealand Meat Producers’ Board’s London manager. This shipment was made by Messrs Thomas Borthwick and Sons, Ltd., in the Port Fairy, which arrived at Southampton on July 16. The cool chambers were opened on July 18. ihe meat,” reports the board’s official, turned out in excellent condition, and there was not a sign of either white mould or black spot. The colour and condition ot the meat were really excellent, and all an-reed that this was the best conditioned cfiilled beef that has ever arrived from either Australia or New Zealand. A very wide distribution was arranged for this consignment, Borthwick’s sending 120 hinds to Smithfield for the following day s market, and jSO hinds for the next days Smithfield trade. The balance of the consignment of the 520 hinds was sent to Bristol, Cardiff, Birmingham, Manchester, Liverpool, Brighton, Croydon, and Kingston on Thames. “ The meat attracted an enormous amount of attention on Smithfield market,” continues the report, “ and Mr Forbes and Mr Masters paid a visit to the market in company with the chairman of the board, Mr David Jones, and myself, and inspected the meat.” Discussing prices realised, the report states that it was unfortunate that the weather was warm at time of arrival. This affected prejudicially prices of all beef. The day before the New Zealand consignment was opened up, Argentine chilled beef was selling at 5Jd, but towards the end of the week, owing to warm weather, prices gave way, until Argentine chilled hinds were selling at s£d to 5Jd per lb, the average for the ■week being 5 3-8 d per lb. “We cannot, of course, in these experimental shipments get the full Argentine prices, especially seeing that during the same week there was a shipment of South African arriving, which comes over in wonderfully soft condition owing to its short journey of only T 8 days. South African beef, how;ever, is not of the same quality, although its Condition from the point of view of chilled beef is better than ours. Altogether the experiment can be recorded as being a pronounced .success, and I am very proud that New Zealand was the first country in the world to bring over a commercial shipment of meat with refrigeration assisted by carbon-dioxide gas.” AUSTRALIAN BUTTER Australian butter production has been curtailed considerably owing to dry weather, but milder temperatures, combined with splendid rainfalls, have improved the outlook in the dairying districts. Production of butter is increasing steadily, and arrivals in Melbourne from Victorian producing centres in the week ended September 2 amounted to 27,530 boxes, an increase of 3769 boxes, compared with the previous week. In the corresponding week a year ago arrivals amounted to 40,128 boxes. In Queensland pastures are showing an improvement, and production of butter is increasing. Owing to heavy rains in South Australia, production in that State should show a rapid increase. The surplus at present approximates 75 tons a week. Production is increasing in Western Australia, but it is still considerably below that of last year.

SALES ON 'CHANGE. < B* d. National Mortgage 2 10 0 Bell-Kilgour (two) 0 1 7 Bell-Kilgour 0 1 74 King Solomon .. no s 6 Bell-Hooper (six) . . .. • • 0 1 0 SALES REPORTED. N.Z. Refrigerating (cont., 0 9 11 two) .. •. The following are yesterday afternoon’s buying and selling quotations, which are subject to the usual brokerage: — BANKING. Buyer. Seller. £ 8. d. £ 0. d. A’asia .. .. 0 0 — N.8.W. 32 10 0 — N.Z. .. .. .. 2 6 8 2 7 0 N.Z. (Long D) .. 1 13 6 E.S. and A. .. .. 5 18 0 0 2 0 National of N.Z. .. 4 4 fl 4 7 0 Union 10 4 0 10 8 0 INSURANCE New Zealand 2 14 0 2 18 0 Standard .. .. 3 0 0 3 2 0 SHIPPING. U.S.S. Co. (pref.) 1 8 0 1 6 6 COAL. Kaitangata .. 1 1 s — Westport .. .. — 0 13 3 LOAN AND AGENCY. National Mortgage 2 9 0 — Wright, Stephenson 0 13 0 15 (ord) .. .. 0 0 MEAT PRESERVING N.Z. Refrig, (paid) N.Z. Refrig, (cont.) 0 19 0 9 0 9 0 9 11 South. Frozen Meat 2 8 (paid) 2 2 0 0 South. Frozen Meat (cont.) .. . 1 « « — South. Frozen Meat (pref.) .. . • 2 11 0 — South Otago Frees. 5 0 0 — MISCELANEOUS. British Tobacco .. 1 16 3 • Bruce Woollen 6 (pref.) .. .. — 0 1 0 Colonial Sugar 58 10 — Crystal Ice 1 7 0 ■ Dominion Fertiliser - ■ — , 0 12 6 Dominion Fertiliser' (Debs.) .. .. 99 0 0 * Donaghy’s Rope .. 2 1 0 — Dunlop Perdriau 0 18 Rubber ' .. .. 0 — Electro.-Zino (pref.) I 13 3 Electro.-Zinc (ord.) 1 3 4 — Milburn Lime 1 10 0 — Mosgiel Woollen .. 8 15 0 9 10 0 M'Leod Bros. 26 0 0 — 10 Mount Lyell 1 2 6 1 2 National Electric • — 0 6 0 N.Z. Drug Co. .. 3 9 0 — N.Z. Paper Mills .. 1 7 6 1 8 0 Regent Theatre .. WilsonVCement .. '• — 1 0 0 1 16 3 N.Z. Newspapers .. 1 6 3 “ BREWERIES N.Z. Breweries . • — 6 1 17 6 Staples .. • • •• 1 7 Dunedin • • .. 1 3 0 — Tooths ... .. — 2 0 0 MINING. Waihi 1 5 9 — Waihi Grand Jctn. 0 4 3 — Kildare , • • • • — 2 2 4 Okarito — 0 11 5 New Cornish Point 0 0 5 0 0 64 King Solomon .. tto 3 5 0 3 6 Alexander • • • • 0 18 6 ' Consol, Goldfielde 0 14 6 — Gillespie’s Beach 0 2 24 0 2 3 Waitahu .. •• 0 7 6 0 7 9 Golden Sands 0 3 4 0 3 8 Big River .. • • — 0 1 9 Mount David — 0 2 6 Nokomai .. .. 0 2 11 0 3 1 Freshford 0 0 8 0 0 9 Central Shotover — 0 1 0 Bell-Kilgour .. .. 0 1 7 0 1 74 Bell-Hooper 0 1 0 0 1 dj Oxenbridge .. .. — 0 0 10 6 Aotearoa . • •. — 0 0 1 Mataki .. .. •. 0 2 — GOVERNMENT LOANS. 34 p.c. Ins., 19381943 100 0 0 — 34 p.c. Ins., 1938100 0 1952 0 , 34 p.c. Ins., 1939100 0 1943 0 34 p.c. Ins., 19391952 100 0 0 3i p.c. Ins., 1941100 0 1943 0 34 p.c. Ins., 19411952 100 0 0 — 4 p.c. Bonds, January, 1940 .. 101 0 0 — 4 p.c. Ins., January, 1940 100 10 0 101 0 0 4 p.c. Bonds, Februaiy, 1946 100 10 0 — 4 p.c. Ins., February, 1946 .. 100 10 0 101 0 0 4 p.c. Bonds, April, 101 5 1949 0 —* 4 p.c. Ins., April, 1949 101 5 0 4 p.c. Bonds, June, 1955 100 10 0 —- 4 p.c. Ina., June, 1955 100 10 0 — ft Cum dividend. DIVIDENDS PAYABLE. Tlie following is a list of shares on which dividends will shortly be payable: — Broken Hill South, Is . . Sept 22 Alexander Mines, Is, ninth .. Sept 22 Dunlop Perdriau Rubber Sept 30 (pref.), Is, final King Solomon, 3d Sept 30 Pukemiro Collieries, Is, final .. Oct. — Bank of Australasia, 3s ’ 6d Oct. 6 interim .. .. N.Z. Guarantee Corn., 3d, final Oct, 26 Waihi, Is, interim (approx; .. Is Nov. 1 Electrolytic Zinc (pref.), Nov. 7 l-5d. final .. 2

RUGBY, September 20. Paris— Par. Sept. 19. Sept. 20. Francs to £1.. 124.21 79 29-32 79 9-32 Brussels — 22.225 Belgas to fi 1 .. 89 22.395 Oslo— 19.90 Kroner to £1 .. 18.189 19.90 Stockholm — 19.875 Kroner to £1 .. 18.190 19.875 Copenhagen— 22.40 22.40 Kroner to fil .. 18.190 Berlin— 13.075 12.99 Marks to £1 .. 20.48 Montreal— 4.885 Dollars to £1 .. 4.861-3 4.885 New York— 4.81 Dollars to £ 1 .. 4.88 1-8 4.T9 Yokohama— 14 8-32 14 8-82 Pence to yen 24.882 Hongkong— IT 3-16 1754 Pence to dollars 24.88 Bombay— 18 1-32 18 1-82 Pence to rupee — Batavia — 7.65 Florins to £ 1 18.10 7.85 Milan— 59 1-16 Lire to £1 .. 83.46 99 7-16 Amsterdam — 7.69 Guilder to £1 12.107 7.78 Prague— * Kroner to fil.. 1045 1085 104% Geneva16.125 16 Francs to fll .. 25.225 Vienna— 29 Schillings to £1 84.865 29 Helsingfors— 2265 227 Marks to £1 .. 193.28 Madrid— 87 8-82 Pesetas to £1 25.235 35 5-16 Belgrade— 240 240 Dinars to £1 .. 25.225 Athens — 965 - Drachma to fil 879 569 Lisbon — 103 • Escudos to £1 110 103 Bucharest — 930 Lei to £1 .. 981.6 930 Rio de Janeiro— 41 Pence to mllrels 5.890 41 Buenos Aires— 442 Ponce to pesos 47.28 445 Shanghai— 15 7-16 Fence to tael .. — 15 9-16 Montevideo — 865 37 Pence to pesos — Warsaw — Zlotys to £ 1 .. — —