DUNEDIN MARKETS

Otago Daily Times, Issue 22546, 13 April 1935, Page 8

DUNEDIN MARKETS

WHEAT, OATS, ETC. Few transactions have been recorded in the wheat milling market during the week. Threshing from the stook- has been completed in the Otago district, and farmers who have stacked their wheat are in no hurry to thresh while the weather remains unsettled. There is not, however, a great deal of wheat in stack in Otago. The bulk of this class of cereal will come from Canterbury. Local millers are accepting any lines on offer, and.are paying the Wheat Purchase .Board an advanced price on a basis of 4s per bushel, f.0.b.. for Tuscan, sacks extra, with the usual increments for Hunters and Velvet. There will be an advance of Id per bushel in the southern district for the month of May. Local stocks of fowl wheat are on the light side, and the market is firm. The current wholesale price is 4s Gd per bushel, sacks extra, ex truck. Small lots ex the store bring higher money. North Island merchants are securing their requirements from Canterbury, where the general quotation is 4s 4d per bushel, F.0.b.. sacks extra, Lyttelton and Timaru. Millers' prices for flour, etc., are as follows: Flour: 2001 b. £l2 12s; 100 s, £l2 17s; 50's, £l3 2s; 25's, £l3 7s. Bran, £5 per ton. Pallord, £0 5s per ton. Oatmeal. 2001 b, £l9; 25's, 621. Pollard has been advanced 10s per ton. A firmer feeling has been experienced in the oat market during the week, consequent on buying by millers. Up to 3s per bushel, sacks extra, on trucks, country sidings, has been paid for heavy lines of Cartons. There is not much shipping demand for prompt delivery, inquiries being more for delivery ahead. The present value for A Cartons is 3s 2d, f.0.b., s.i., with B's ruling at 2s lid. North Island merchants have been buying sparingly from this port. Their requirements are not very heavy, and what oats they have wanted have been secured from Canterbury, where merchants are selling at prices below what merchants here are prepared to accept. On the above basis it is necessary for merchants to buy at 2s 9d and 2s lOd for A's and 2s 6d for B's, sacks extra, on trucks, country sidings. The demand for chaff is on the quiet side. Prices, however, are firm, and it i 8 now more difficult to secure supplies from Canterbury. Stocks in store are ample to meet present requirements. For lots ex the store the value can be given as £5 5s per ton, sacks extra. For truck loads £4 15 s to £5 per ton, ex the truck, is being paid, but there are not many sales of truck lots to record.

The potato market has been over-sup-plied, and sales are increasingly difficult to effect. Digging is now general, and most of the groweis are sending in supplies. The present value for Arran Chiefs is £5 10s per ton, sacks included, ex truck. King Edwards are selling at a premium. This variety of tuber has much the greater demand, and supplies are not plentiful. Most of the seed markets are quiet, with little change in values. The bulk of the ryegrass hqs been purchased from farmers, and only an occasional lot. is now on offer. Machine-dressed ryegrass is being offered fairly freely on the wholesale market, but there is no quotable change in prices. Cocksfoot remains firm, with high prices still ruling for certified and plains lines. Stocks of this seed are light, and they will all be required for spring sowing. The cowgrass market is inclined to ease a little, a s there is a fair quantity offering from Canterbury and Blenheim. There is no change in' the white clover market, but the brown top market has strengthened slightly. A few transactions have taken place in machine-dressed Chewing's fescue on a basis of Is 9d. Chaff::- Good bright oaten ehat, £5 5s per ton, ex store. Potatoes: Arran Chiefs, £5 10s per ton. Prices for King Edwards are higher, and thev vary. Dairy butter: Milled bulk. 8d per lb; separator, Bd. Bacon, Is o*d per lb. Ham: Ordinary, le Id; boneless, Is 3d per lb. j Canterbury onions: To 17s per cwt. Eggs: Stamped, to Is 8d; ease, le Yd. Eggs firmed in price during the week. FRUIT REPORT. Heavy supplies of apples are arriving from all districts, and large stocks pt inferior quality are accumulating in tie marts. Shoice sorts meet a ready sale, but prices are affected by the large quantity of poor grade reaching the market. Nelson growers must be disappointed witli the returns,,as a case of apples costs 2s Id for transport from Nelson to the local market, and in many cases Nelson Jonathans and Delicious are being sold at from 3 fl 6d to 4s per case. Pears are plentiful, and the market is easier as compared with last week. Odd lines of peaches and plums are still, on offer. Second quality have a good demand. , . . A shipment of Tongan bananas arrived yesterday. This will be the only consignment to meet the Easter trade, as the Maui Pomaro was delayed, and the shipment by her will arrive too late to enable the fruit to be ripened for the holiday period. The Maui Pomare is bringing Sainoan and Niue Island bananas, but the shipment is almost 25 per cent, less than the quantity brought by this vessel on her previous voyage. Lemons and oranges are in good supply. . . Jam melons are in over-supply, and it is very difficult to make sales. Tomatoes have been in heavy supply. The cold weather has affected the demand. Only the best quality have any demand, and lines of this grade are few and far between, consequent on the dry weather experienced some weeks ago. Quinces are in better supply, and the market is easier. Marrows and cucumbers are m oveisupply. , ~, , , Cauliflowers are not so plentiful, and high prices are ruling. There is a good demand for green peas, with high prices ruling. Fair supplies are coming in from the Peninsula and North Otago. Other vegetables are in better supply, with a normal demand. Wholesale prices are as follows: — Pears: Dessert, 4s to 6s 6d per bushel: cookers. 4s to ss. Oranges: Californian navels, 35s to 37s 6d per case. Apples: Cox's Orange Pippins, 6s to 9s 6d; Delicious, 4s to 5s 6d; Jonathans, 3s 6d to 4s Od; cookers, 3s 6d to 4s 6d.

Grapes: Local grown, 8d to lid per lb; Oamaru. 7d to 9d: Gros Colmar. 1* 2d to Is sd. Lemons: New Zealand grown, 15s to 18s per case: Californian. to 435. Peaches, 2s Od to 3s 6d per half-case. Plums: Coe's late red, 2s to 2s 6d per half-case. Tomatoes: Choice, 2d to 3d per lb; others, Id to lid per lb. Bananas: Ripe, to 23s per case. Jam melons, 6s per cwt. Quinces, to ljd per lb. Cauliflowers: Choice. 6s to 10s per sack. Carrots, 2s 6d per sugar bag. Cabbages, 4s to 6s per sack. Parsnips, to 3s per sugar bag. Beet, Is per dozen bunches. Green Peas, 2Jd to 4.1 per lb. Cucumbers, to Is Od per case. Pumpkins, 7s to Os per cwt. Marrows, to 5s per cwt. Rhubarb, to Id per lb. Potatoes, to 7s per cwt. French and runner beans, to 3d per lb. Lettuce, Is to Is 6d per dozen. Mushrooms, to 4d per lb; poor quality unsaleable.

DOMINION MORTGAGE COMPANY " In view of the very difficult economic conditions through which we are passing, and the reductions in interest by legislative enactment, the year's results can be considered reasonably satisfactory," states the eleventh annual report and balance sheet of the Dominion Mortgage and Deposit Company, Ltd., which will be presented at the annual meeting of shareholders in Wellington on April 11. " During the year several advances have been repaid, and this has had the effect of reducing substantially the company's overdraft at the bank." continues the report. "While the profit shown for the year's business is less than last year, it is not a matter for serious concern, as the profits shown in this year's accounts should approximate to the true profit to be realised. Substantial sums which had been charged up for interest, but which it was found were unlikely to be received, have been written off. "In spite of the small profit, the directors feel that the company's position is sufficiently stable to warrant the payment of a small dividend. The amount standing to the credit of the profit and loss appropriation account is £842 1.3 s Od. The directors recommend that a dividend of 1} per cent, be paid to the shareholders, absorbing £.'571 12« Gel, and that the balance of £471 3s 3d be carried forward."

BANK OF ENGLAND RETURN (United Press Association.! (By Electric Telegraph—Copyright.) LONDON, April 11. The following is the Bank of England return: — ISSUE DEPARTMENT. Note issue in circulation .. £388,308,254 Bank department 64,248,145 £452,550,399 Government debt £11,015,100 Other Government securities 246,800,270 Other securities 174.484 Silver coin 1,950,146 Gold coin and bullion .. .. 192,556,399 £452,556,399 ' BANKING DEPARTMENT. Proorietors' capital .. .. £14,553,000 Rest 3,112,850 Public deposits 9,216,481 Other deposits (bankers) .. 103,297,033 Other accounts .. .. .. .. 39,656,0G6 Seven-day and other bills .. £169,835,433 Government securities .. .. £88,476,044 Discount advances .. .. .. 6,346.138 Securities .. .. .. .... 10,230,773 Notes in reserve 64,248.145 Gold and silver coin .. .. 534,333 £1G9,835,433 The proportion of reserves to liabilities is 42.50 per cent. Short loans are quoted at ;1 per cent.; three months' bills at 19-32 per cent. CANADIAN WHEAT STOCKS (United Press Association.) (By Electric Telegraph—Copyright.l OTTAWA, April 11. The Canadian wheat stocks on March 31 were 252,674,799 bushels, a decrease of 21,600,000 bushels compared with a year ago. AUSTRALIAN MARKETS (United Press Association.) (By Electric Telegraph—Copyright.) MELBOURNE, April 12. Wheat, 3s 3Jd to 3s sd. Flour, £ll 15s. Bran, £4 ss. Pollard, £4 15s. Oats, 2s 4d to 2s sd. Barley—English, 2s 9d to 3s. Maize, 4s. Potatoes. £6 to £6 10s. Onions, £6 to £7 10s. BRADFORD MARKET (United Press Association.! (By Electric Telegraph—Copyright.) LONDON, April 11. The Bradford market is very firm. Quotations: 70" s, 27d; 64's, 25d; 60's, 233 d; 56's, 17Jd; 50's, 13 W; 46's, 10Jd; 40's, 9Ad. PRICE OF FINE GOLD (United Press Association.) (By Electric Telegraph—Copyright.)

BUTTER AND CHEESE 'United Press Association.) (By Electric Telegraph—Copyright.) LONDON, April 11. Butter: Steady demand. Danish, 935; choicest salted New Zealand, 78s; Australian, 745; unsalteds, Is premium. Cheese: Quiet. New Zealand white 44s 6d, coloured 40s Od; Australian, 43s to 445. ALOHA GOLD SHARES BUYERS' INCREASED OFFER. (United Press Association.) IBv Electric Telegraph—Copyright.) MELBOURNE, April 12. Buyers closed the market for Aloha gold £lO shares on exchange at £6OO, a rise of £IOO on the price cabled yesterday. Sellers held out for £IOOO. BALCLUTHA STOCK SALE (From Ouk Own Correspondent.) BALCLUTHA, April 12. Yardings of sheep at the weekly sale to-day, although not so large as last week, comprised 1040 fats and 3200 stores. Prices showed a weakening tendency. Best quality fat lambs made 19s 9d to 21s od, medium quality 15s 6d to 17s Od, others 13s to 16s; butchers' ewes were in good demand and sold at 15s 6d to 18s: freezing ewes, 9s to lis 6d. A line of good fat wethers, offered on behalf of Messrs John Christie and Sons, was passed in at 25s 6d. Store Sheep— Wethers, 19s 6d to 21s: best mixed age ewes, to 22s 6d; others, 16s 6d: two-tooth ewes, 26s to 28s 6d for best, others 22s to 255; full-mouthed ewes, to 15s; failing-mouthed ewes, 9s to lis 'id; old ewes, 3s to 5s Id; best store lambs. 12s to 14s; others, 8s to lis. Best Southdown rams realised 3|gns to sgns; Roniney rams, IJgns to 4r}gns, old rams, 21s; old Southdown ranis, 7s to 10s. A line of Southdown rams from Canterbury sold at 3gns.' Cattle. —A yarding of 300 stores and 20 fats. Fat bullocks sold at £6 to £6 10s< for best quality; others. £4 17s 6d to £5 10s; fat cows, £1 15s to £3 2s 6d; fat heifers, to £3 lis 6d: two-vear-old steers £1 17s 6d. Store cattle sold at late rates. Good dairy cows close to profit sold at £5; heifers, to £3. Messrs Nimmo and Blair offered a farm of 200 odd acres at Waitepeka, but the bidding failed to reach the reserve and the property was passed in. Pigs.—A fair penning met with an improved demand compared with' the previous week. It was stated that up to 6*d a lb could be got on the hooks for good bacon weights, and this no doubt had something to do with the bfctter prices ruling. Best quality suckers sold at 15s to 17s Cd: others, 8s to V2s 6d; store piss, to 265.

POISON LICENSES By advertisement in this issue dealers in poisons are notified that application forms for licenses are available at Post Offices. The Poisons Act, 1934, came into force on April 1, and provides for three kinds of licenses—wholesaler, storekeeper, and extended storekeeper. For the purpose of classifying poisons there are three schedules to the Act. The first and second schedules are exclusive to chemists, doctors, veterinary surgeons, and dentists, for whom licenses are not necessary. The third schedule contains what may be called " farm" poisons such as sheep dips, orchard sprays, and weed killers. These may be sold retail under a storekeeper's license or under a wholesaler's license. The holder of either such license, if in business five miles or more from a chemist's shop, may also obtain an extended storekeeper's license, which permits the retail sale of most of the poisons in the first and second schedules. All sellers of poisons are required to keep records of sales as provided in the Act.

Messrs J. Lindsay and Co., farm produce salesmen and commission agents, Vogel street, Dunedin. agents for the North Otago Poultry Farmers' Association, report as under:— Eggs: Poultry farmers'. Is Sd: others Is 4d. Poultry: Hens, light breeds Is 3d to Is Od. heavy to 2s Gd: roosters, Is 6d to 2s; turkeys, 8d per lb; gobblers. 9d, live weight: ducks, 2s to 2s Gd. Potatoes, Cs. to 6s Gd per cwt. Chaff, £4 10s to £5 per ton, sacks extra, ex store. Clover and ryegrass hay, £4 10s to £5 per ton. ex store" Wheaten straw, £2 15s to £3 per ton. Canterbury onions, lGs Gd per cwt. Fowl wheat, 4s Gd to 5s per bushel, sacks extra, ex stove. Bran, £5 10s. Pollard. £7 per ton. We stock meatmeal, egg crates, grit, chicken food, etc., and have poultry crates on hand for the free use of our clients. We are wine and spirit merchants, and can quote for all brands of ale, stout, wines and spirits. April 13.

LONDON STOCK EXCHANGE (United Press Association.) CBy Electric Telegraph—Copyright.) LONDON. April 11. The fallowing are the latest quotations of Government securities compared with the prices ruling

FOREIGN EXCHANGES (British Official Wireless.) (United Press Association.) (By Electrio Telegraph—Copyright.) , , RUGBY, April 11. Paris— Par. April 9. April 11. Francs to £1 124.21 73 27-64 73 27-64 Brussels—

WHEAT AND FLOUR LONDON. April 11. Wheat cargoes are firm in tone, and quotations are from 3d to Ski higher on a bullish Washington foiecast v American winter crop is higher on North and South American advices. Ex Kilunsea, 2Ss Hd. For bags and bulk parcels buyers arc reserved, sellers demanding an advance of 3d to Is. Continentals are dearer on reports of good French sales to Italy. Futures:—London: April, 24s 4d; June, 24s 7d. Liverpool: May, 5s o|d; July, 5s 72d; October, 5s 10|d. The spot trade is quietly firm. Australian (ex ship). 29s 3d. Flour: Steady. Australian (ex store), 20s Gd to 20s 9d. Oats are tending to be dearer. Peas and beans are firm. DAIRY PRODUCE The National Mortgage and Agency has received the following cablegram from London:—Butter: Market slow; New Zealand finest, 78s; New Zealand first, 70s, 775; Danish, 98s, f.o.b. 70s. 775; Australian. 745. Cheese: Market slow; New Zealand white, 44s 6d, 455; New Zealand coloured, 40s Gd, 475; Canadian white, 625; Canadian coloured, 58s. 60s. Messrs A. S. Paterson and Co. are advised as follows from London: —Butter: Market quiet; buyers inactive; New Zealand, 775; Australian. 745: Danish market weak. 755. Cheese: Market slow; white, 44s 6d: .coloured. 45s Gd. Messrs Dalgety and Co. advise having received the following cablegram from their head office. London, dated April 11: The butter market is quiet. The cheese market is slow. Danish butter, f.0.b.. 76s to 775; New Zealand finest butter, 77s to 78s: Austnalian finest unsalted butter, 75s to 765; Australian finest salted butter, 74s to 755: Australian g.a.q. butter, 71s to 725: Australian cheese, white, not quoted: Australian cheese, coloured, not quoted: New Zealand cheese, white, 44s 6d to 455; New Zealand cheese, coloured, 46s to 46s 6d; Canadian cheese, white, 58s to G2s; Canadian cheese, coloured, 58s to 625; Canadian cheese, c.i.f., not quoted.

AUSTRALIAN IRON AND STEEL The statement of Australian Iron and Steel, Ltd., for the year ended November 30, 1934, exhibits a net profit of £120,774, contrasting with £70,359 for the preceding year. Net earnings are struck after deducting provision for taxation, bad debts and depreciation. The balance at credit of profit and loss account brought forward from 1932-33 was £297,013, making a total of £417,787, out of which the directors recommend that a dividend at the rate of 1\ per cent, per annum be paid on the cumulative preference shares for the half-year to May 1, 1931, absorbing £37,500. The Interest Reduction Act operated from October 1-, 1931, and therefore does not affect this dividend, which will leave a balance of £?80.287, to be carried forward. The directors stated that the outlook continues to be satisfactory; and that the plant and machinery have been maintained in good order and condition. Plant for the manufacture of high-grade black and galvanised sheets has been erected at Port Kembla, and is now iin production. Mr A. Howard-Smith was appointed to the vacancy on the board created bv the death of Mr E. H. Flack. The balance sheet shows that during the year paid-up capita! was increased from £3,330,975 to £3,473,507 by contributions from ordinary shareholders. Total assets increased from £4,405,811 to £4,084,536. Principal expansion was in freehold and leasehold property, iron ore and limestone quarries, railways and rolling stock plant and improvements, growth in this item being from £3,453,822 to £3,723,496. Preference dividends are four years in arrears. For the first three years of operations dividends were paid on the preference shares, and in 1929 a sum of £91,675 was appropriated for 5 per cent, dividend on tka ordinary shares, but payment was deferred, and the sum appears amongst liabilities.

LONDON METAL MARKET LONDON. April lL (Received April 12. at 8.30 p rn.) The following are the ofnVial mi*iul quotations: Ton.

TRADE BETWEEN NATIONS PRESENT BARRIERS DEPLORED. In urging the need for freer international trading, the English Leather Trades Journal states: "It is hopeless to expect that the trade of any country will attain to that visjour and \ i which it ought to have, or that unemployment will be banished, as long as there are maintained those barriers which, by making the interchange of commodities very difficult, render easy trading between the nations practically impossible'. It matters nothing whether these obstacles are unreasonable tariffs, quota alocations, permissive licenses, or absolute prohibition—they form a wall between buyers and sellers, which it is becoming increasingly difficult to surmount."

longer the world continued on this path the more impossible it seemed that the growing intervention of official authorities in industry could result in an effective improvement of the world's economic situation. " What we see in place of recovery is a further destruction of economic equilibrium," said Mr van Vlissingen. " Both trade barriers and the number of subsidised industries -have increased. If any genuine restoration of equilibrium between production and consumption had taken place, we should already have been in a position to remove some of the trade barriers and reduce the number of subsidised industries." WOOL IN AUSTRALIA "But for the heavy purchases by Yorkshire, disposal of the Australian clip thi» season would have been impossible, except under the most chaotic conditions," say« a wool review just issued by the Australian Mercantile, Land and Finance Company, Ltd., Melbourne. " J'apan has not supported the market as freely or extensively as in the past, purchases this season, on the basis of quantity, being much below those of last season. Demand from this quarter nas been rather spasmodic, accounting largely for the fluctuations in values, though generally the market was fairly steady throughout. " In spite of slackened buying activity, Japan has recorded an achievement as notable probably as any 6ince her entry into the Australian markets and comparable with that of Yorkshire. " The exchange position this season hag meant that a given quantity of wool has cost Japan about 70 per cent, more than Yorkshire, and approximately 200 per cent, more than France, Germany and Italy. It is little wonder therefore that some curtailment of orders from Japan has resulted. On one occasion only in the history of the wool industry of Australia has the quantity available in any one season been greater than that of this season, and even in the case of the exception the excess quantity was not great. However, sales at auction from the beginning of the year to the present constitute a record for the period." THE NEWS OF INDUSTRY "Advertising in a Changing World" was the subject of an address given in London by Mr F. J. Marquis, chairman of the Incorporated Association of Retail Distributors. He said that the secret of the recapture of British trade lay in British manufacturers and their products becoming news. They had to look to the old markets for the sale of new goods rather than look for new markets for the sale of old goods. They must realise the extraordinary extent to which the world was changing; taste was changing; a new generation was demanding that beauty should find expression in the home. The process of speedy replenishment was going on all over the world. There wad also a constant change taking place in the standard of life of the whole community. The public did not know nearly enough about all the things that the world of production had made for them. Industry called for a news service about itself. All engaged in advertising would be doing a job of the greatest national significance if they could find some means of making paid advertising as interesting as the news story The story the advertiser had to tell —nevr processes, new inventions, new designs, new standards of prices—was a story of r great social revolution which would maklor a new England and a new civilisation. But, above all, they had to get at leasas good a standard of truth (and belief it the advertising columns as they got in tb»news columns.

LONDON, April 11 Gfold (a fine ounce) is quoted:— April 11 . t s. a. 7 3 11J April 10 . ....... 7 3 6 April 9 . .' 7 4 1| April 8 April 6 April 5 7 3 104 April 4 7 4 3 April 3 7 5 7J April 2, . 7 4 0 April 1 . . . 7 5 8J

last week: — Last wo :ek. This wee k. £ 8. 1 i. £ s. d. 80 0 0 86 7 6 Funding Loan, t p.c. 1069-00 110 10 0 117 10 0 Assented Wat Loan .. .. 106 2 0 106 12 6 Conversion Loan. 31& p.c. .. 106 5 0 100 10 0 Victory Bonds. 4 p.c. (eidif.) 114 17 6 115 10 0 C-'wealth, 6 p.c, 1045-75 .. 109 7 6 109 5 0 ITwealtn. 3Mj p.c. 1936-37 .. 101 17 6 101 17 G C'wealth, 4 p.c, 1943-48 .. 101 16 3 101 13 9 C'wealth 3% p.c. 1948-53.. 100 13 9 101 5 0 C'wealth. 6 p.c. 1935-45 .. 102 0 0 101 18 9 N.S.W.. 3 p.c. 1935 .. .. 100 8 9 101 5 0 N.S.W.. 3'A p.c. 1930-50 .. 09 17 6 100 12 0 N.S.W.. V& p.c. 1035-45 .. 101 7 6 101 0 0 N.S.W.. 6 p.c. 1935-55 .. 101 0 0 101 0 0 Victoria. 3 p.c. 1929-49 .. 96 13 9 97 0 0 Victoria. 4% p.c. 1940-60 .. 104 0 0 104 15 0 Victoria. 5 P.c, 1945-75 109 0 0 108 15 0 Queensland. 3 p.c. 1922-47 ., 90 17 6 97 1 3 Queensland. B p.c. 194000 .. 105 0 0 105 0 0 S.A.. 3 p.c. 191G (opt.) .. 89 0 0 00 0 0 S.A.. 5 p.c.. 1045-75 .. .. 109 0 0 109 0 0 W.A.. 3 p.c. 1915-35 .. .. 100 0 0 100 0 0 W.A.. 4 p.c. 1942-02 .. .. 101 10 0 101 15 0 Tasmania. 3% p.c. 1920-40 .. 101 10 0 101 10 0 Tasmania. 4 p.c, 1940-60 .. 101 11 3 101 12 0 New Zealand, p.c. 1948-68 107 15 0 108 5 0 New Zealand, 3% p.c, 1940 103 7 6 103 7 0 New Zealand, 3 p.c. 1945 .. 100 2 0 100 10 0 New Zealand. 6 p.c. 1936-61 105 18 0 105 7 G

Belgas to £1 30 l 28 19-32 283 OsloKroner to £1 18.180 19.901 19.90J StockholmKroner to £1 18.130 19.39J 19.392 Copenhagen— Kroner to £1 18.150 22 22 BerlinMarks to £1 20.34 12.00J 12.02 MontrealDollars to £1 4.86 2-3 4.852 4.86} New York— Dollars to £1 4.86 2-: Yokohama— 1 4.841 4.84g I'onco to yon .. 21 Hongkong— . Pence to dollar 24 :.582 14 1-16 14 1-16 1.58 24 7-16 25 5-16 BombayPonce to rupee — 18 3-32 18 3-32 Batavla— Florins to £1 12 Milan:.io 7.151 7.15J Lire to £1 .. 82 A m s t c rd ii rn .46 581 58% Guilder to £1 12 i.107 7.18} 7.17 PragueKroner to £1 104$ 115 J 1155 Geneva— Francs to £1 25 ;.22£ 14.96 14.97 Vienna— Schillings to £1 84.86S 251 252 Helslngfors— Marks to £1 191 1.23 226J 2261 MadridPesetas to £ 1 So i.221 35 7-16 352 Belgrade— Dinars to £1 21 i.221 212 212 Athens— Drachma to £1 375 509 507 Lisbon— Escudos to £1 110 110 110 Bucharest — Lei to £1 .. 931.6 477J 4771 Rio de Janeiro— Pence to milrels 5.890 41 41 Buenos Aires— Pence to pesos 47.22 361 361 Shanghai— Pence to tael - 18J 18{ Montevideo— Pence to pesos — 40% 408 Warsaw— Zlotys to £1 - 25.43 25.43 ON NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedln. quoted the following rates for purchases and sales of foreign excha nge yesterday:— Buying. Selling. London— £N.Z. to filOOstg T.T. 124 124/10/O.D. 123/10/124/7/6 Australia— £A to £100 NZ. T.T. 101 100/10/O.D. 101 100/10/Fiji— £F to £100 N.Z. T.T. 90/7/6 89 O.D. 90/7/6 89 New York — Dollars to £1 N.Z. T.T. 3.921 3.88J O.D. 3.934 3,882 Montreal— Dollars to £1 N.Z. T.T. S.93'3 3.891 O.D. 3.941 3.90J PranceFrancs to £1 N.Z. T.T. 59.62 58.32 O.D 59.92 58.37 NoumeaFrancs to £1 N.Z. T.T. 60.57 57.57 O.D. 60.97 57.62 Papeete— Francs to £1 N.Z. T.T. 60.57 57.57 O.I) 60.97 57.62 Belgium— Belgas to £1 N.Z T T — 22.668 O.D. — 22.683 Germany — Ueichsmarks to £1 T.T. — 9.441 O.D. — 9.446 ItalyLire to £1 N.Z. T.T. O.D. — 46.23 26.27 SwitzerlandFrancs to £1 N.Z. T.T. 12.252 11.852 O.D. 12.327 11.862 HollandFlorins to £1 NZ. T.T 5.896 5.646 O.D. 5.946 5.650 Java— Florins to £1 N.Z. T.T. 5.851 5.626 O.D. 5.901 5.630 Japan— N.Z. pence to 1 T.T. — 17 23-32 O.D. — — Shanghai — N.Z. pence to 1 dollar .. T.T. 221 24 3-16 O.D 222 241 India and Ceylon— N.Z. pence to 1 rupee T.T. 22 11-3 2 22 11-16 O.D 22 7-32 221 Hongkong— N.Z. pence to 1 dollar T.T. 31 1-32 32 3-32 O.D 30 29-3 2 32 1-32 Singapore— N.Z. pence to 1 dollar T.T. 34 5-16 : 351 O.D. 34 3-16 35 3-16 Sweden — Crowns to £ N.Z. T.T. 15.787 15.457 O.D. 15.S27 15.467 Norway— Kroner to £ N.Z. T.T. ■ 16.198 15.868 O.D. 16.23S 15.878 DenmarkKroner to £ N.Z. T.T. . 18.208 17.878 O.D. 18.248 17.888 Austria— Schillings to £ N.Z T.T. O.D. 20.22 20.21 Czechoslovakia — Crowns to £ N.Z. T.T. — 92.44 O.D. — 92.49 These rates are subject I [o alteration without notice

Coppe r, spc it .. .. , £31 11 lOVi Rise £0 13 Coppe r. for ward .. .. 31 18 3 No change Eleotri Dlytic, spot .. 35 5 0 Rise 0 5 0 Electr olytlc. forward .. 3fi 0 0 Rise 0 5 0 Wire bare 36 0 0 Rise 0 5 0 Lead. spot 12 3 0 Rise 0 2 6 Lead. t'nrwi ird 12 8 9 Rise 0 2 6 Spelte T. spr 't . . . . 12 10 No chanppe Spelte r. for ward . • ., 13 1 3 No change Tin. Tin. spot forwa: d .. 225 7 221 15 Oz. 6 0 Rise 1 17 ti Rise 1 17 6 Silver, . stan dard .. .. 29 11-lGd Rise %d Silrer, . fine 32 l-10d Rise 13-lGd