COMMERCE AND FINANCE

Otago Daily Times, Issue 23331, 25 October 1937, Page 12

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS

THE SHARE MARKET DUNEDIN STOCK EXCHANGE METAL STOCKS SLIGHTLY EASIER Values for most metal stocks wore slightly easier on the Dunedin Stock Exchange on Saturday morning, but prices fof the securities in the miscellaneous section maintained their levels of Friday. Although business was not particularly brisk buying interest did not slacken to any noticeable extent, and sellers showed no disposition to reduce their quotations of the previous day. Bank of New Zealands had a lair inquiry and were dealt in after the last call-over at £2 3s 9d, this figure representing buyers’ closing offers. National Banks and Nationals of Australasia (cont.) were both a shade easier, but holders were not interested National insurances dropped Id both ways, and New Zealand Insurances had a buyer on at £3 4s, but holders kept off the market. The ex rights issue ot Broken Hill Proprietary was a shade easier with a market between £3 6s 6d and £3 7s 9d, but two parcels changed hands after the last call-over at £3 7s. In response to a buyer's offer of £4 7s for McKenzies Department Stores, a seller entered the market prepared to do business at £4 10s. but no sale resulted. Among Australian mining stocks Broken Hill Souths, which have just announced a dividend of Is 3d per share, Electrolytic Zincs and Mount Lyells were easier in value, but Mount Morgans and Rawang Tins were firmer, the latter stock moving up 5d compared with the quotations of the previous day. SATURDAY’S TRANSACTIONS

DIVIDENDS PAYABLE The following is a list of shares on which dividends will shortly be payable;— N.Z. Guarantee Corporation —Final, 2d per share .. Oct 26 Donaghy’s Rope and Twine —Half-yearly, 9d per share Oct. 27 United Provisions Final pref. at 8 per cent, per annum '.. .. Oct. 28 South British InsuranceFinal of Is 5d per share .. Oct. 28 Drug Houses of AustraliaFinal, 3i per cent., making 6£ per cent, per annum .. Oct. 30 Imperial Chemical Industries —lnterim, half-yearly ord. 3 ner cent Nov. 1 Macky Logan Caldwell — Interim at 5 per cent, per annum Nov. 1 Martha Mine—ls per share, free of tax Nov. 2 Bank of Adelaide —Interim at 5 per cent, per annum Nov. 3 South Otago Freezing—s per cent (about) Nov. 9 N.Z. Paper Mills—lnterim, 3 per cent. .; Nov. 15 Broken Hill Proprietary-Half-yearly, Is 3d per share (Australian currency) .. Nov. 17 National Bank of Australasia —Half-yearly at 6 per cent. per annum Nov. 24 Dunedin Brewery and Wilson Malt Extract Company —lnterim at 7 per cent, per annum Dec. 1 Bank of New Zealand—Halfyearly, Is per share, ord., 3,? per cent. D long-term mortgage issue Dec. 11 Broken Hill South—ls 3d per share .. .. NORTHERN EXCHANGES AUCKLAND

SYDNEY STOCK EXCHANGE (United Press Association* (By Electric Telegraph—Copyright) i ' SYDNEY, Oct. 23, (Received Oct. 24, at 6.30 p.m.) Sales on ’Change £ s. d.

LONDON PRODUCE MARKET The Bank of New Zealand has received the following advice from its London office as at close of business on Friday:— There is a moderate demand for wethers.' The market for ewes has declined and demand is very poor. Lambs are in moderate demand and prices are a shade lower. Quotations: Wethers, light, 43d to 53d per lb; heavy. 4d to 4Jd per lb; ewes, 23d to 4d per lb; lambs —two’s, 73d to 7 : ,’d per lb: eight’s 73d to 73d per lb; four's, 6 1 to 7d; seconds, 7£d to 7id.

LONDON MEAT MARKET LATEST SMITHFIELD PRICES (Per United Press Association) WELLINGTON, Oct. 23. The New Zealand Meat Producers’ Board advises that the following are the ruling prices of wholesale quantities of the descriptions of frozen meat mentioned, and are for representative parcels of the goods sold on Thursday. October 21. Chilled beef prices are averages of the week on which this list is issued. All prices are on the basis of delivered to Smithfield Market. (Previous prices arc also shown.)

FOREIGN EXCHANGES

LONDON METAL MARKET (United Press Association) (By Electric telegraph—Copyright) LONDON, Oct. 22. The following are the official metal quotation!:— Ton

SHARLAND AND CO. DIVIDEND OF 5 PER CENT. (Per United Press Association) WELLINGTON, Oct 23. Sharland and Co., Ltd., has declared a final dividend of 24 per cent, on all shares, making 5 per cent, for the year. NORTH KALGURLIE (1912), LTD. SECOND INTERIM DIVIDEND (Per United Press Association) WELLINGTON, Oct. 23. North Kalgurlie (1812), Ltd., has advised the Stock Exchange Association of a second interim dividend for 1937 of 9d sterling, equal to 374 per cent, per share, less English income tax.

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

ON NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following rates for purchases and sales of foreign exchange on Saturday:— London— Buying. Selling

DOLLAR RATES The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates on Saturday on a New Zealand currency basis. They are subject to alteration without notice:—

PRICE OF FINE GOLD (United Press Association) (By Electric Telegraph—Copyright) LONDON, Oct. 23. (Received Oct. 24, at 6.30 p.m.) £ s. d.

FRIDAY’S CLOSING PRICES (United Press Association) (By Electric Telegraph—Copyright) LONDON, Oct. 23. (Received Oct. 24. at 6.30 p.m.) Yesterday’s closing prices were:— , Cotton: Spot, 4.89 d per lb: November shipment, 4.72 d. Rubber: Para, BJd per lb; plantation smoked, 7 11-16 d. Jute: November - December shipment. £2l Is 3d a ton. Copra: November-December shipment, South Sea. £l3 15s a ton; smoked. £l3 15s: plantation Rabaul, £l4 10s. Linseed oil, £32 a ton. Turpentine. 32s per cwt. WHEAT FUTURES (United Press Association) (By Electric Telegraph-Copyright) LONDON, Oct. 23 (Received Oct. 24, at 6,30 p.m.) Liverpool wheat futures: December, 8s 5 7-16 d per cental: March. 8s 2]d; May, 8s IJd. DOLLAR AND FRANC (United Press Association) (By Electric Telegraph—Copyright) LONDON. Oct. 23. (Received Oct. 24, at 6.30 p.m.) The dollar is quoted at 4.95 L The franc is quoted at 1461. NEW ZEALAND PAPER MILLS The directors of New Zealand Paper Mills, Ltd., have declared an interim dividend of 3 per cent, on all shares in the company. The dividend will be payable on November 15.

MINING NEWS NEMONA GOLD DREDGE A return of 30oz for 124 hours’ dredging for the week ended on October 22 is reported by the Nemona Gold Dredging Company, Ltd. A total yardage of 11,500 was treated. BROKEN HILL SOUTH DIVIDEND OF Is 3d. The Dunedin Stock Exchange has received advice that a dividend of Is 3d has been declared on all shares in Broken Hill South Company, Ltd. BIG RIVER REPORT Big River Gold Mines, Ltd., submit the following report for the period ended on October 21: — No. 4 Level Centre Stope.—The stone in the north end has broken up into a few small seams. Work has been stopped on this end, and is now being carried on alongside the winze on a block 23 feet long of an average width of four feet. South Block Intermediate Stope.— The track here has straightened out to the north and south, and work is being carried on along the stope south in stone; average width 5 feet 6 inches. No. 5 Level.—The south winze has been sunk three feet on stone which is in two splices, divided by a seam of mullock about nine inches wide. Centre Stop^.—Stone in the south end is cleaned up and work is now being carried on along the stope north where the stone is in boulders of varying sizes. North Drive—This drive was advanced seven feet on stone averaging about 4 feet 6 inches wide, with three feet of stone in the face. There is now 23 feet of stone overhead in this block. Ninety-six tons and a-half of stone was delivered to the surface bins during the period. WORKSOP RETURN The Worksop Extended Gold Dredging Company, Ltd., reports a return of 28oz for the week ended on October 21 for 181 hours’ dredging and a total yardage treated of 9000. MOLYNEUX DREDGING COMPANY The Molyneux Gold Dredging Company announces that for the two weeks ended October 23 the dredge operated for 244 hours, and recovered 960 z of gold. MURCIUSON-MATAKI RETURN (Per United Press Association) WELLINGTON, Oct. 24. The return of the Murchison-Mataki Junction for the week ended October 21 was 640 z of smelted gold for 129 hours and 20,000 yards dredged. ADDISON’S FLAT DIVIDEND (Per United Press Association) WESTPORT. Oct. 23. The Addison’s Flat Goldmining Company has declared a second dividend of 10 per cent.for the year. The sum of £SOO is placed to reserve fund, and £340 carried forward. WEST COAST DREDGES (Per United Press Association) GREYMOUTH, Oct. 23. The return of the Argo was 81oz for 120 hours, 12,000 yards being treated. The return of the Bundi dredge was 550 z 15dwt 22gr for 179 hours. 23.640 yards being treated. The Maori Gully dredge obtained a return of 420 z Idwt for 131 hours’ work. GILLESPIE’S BEACH Gillespie’s Beach Gold Dredging Company, Ltd., report that the washup for the week ended on October 22 was 550 z Bdwt for 115 hours’ dredging. SOUTHLAND MARKETS (Special to Daily Times) INVERCARGILL, Oct. 23. GRAIN REPORT Markets generally, in so far as wholesale business is concerned, are distinctly slow, one of the chief reasons being that owing to the brd season we have passed through there Is little produce in excess of local demands. Merchants are experiencing a busy time in the retail trade, which has deplenished stocks of good quality oats, while, though there is no actual shortage—rather the reverse, perhaps —in ryegrass, it seems quite evident that stocks will be approximately cleared out by the end of the sowing period. Northern merchants do not seem at all interested in oats, and only a nominal value could be given. The bulk of our oats are under-grade, and must be sold on sample. The bulk of the grade lots have been disposed of to the mills or utilised for seed purposes. Values vary, so much depending on the quality, but no purpose can be served in making a general statement in respect of prices. Chewing’s Fescue. —Rather less interest is shown in this now from overseas, and the market is perhaps a shade weaker, but stocks held are now in very slight compass. A good deal of business has been done in America for shipments by a vessel leaving port in December, and, as it is well known overseas that this is the first opportunity there is every probability of the quantities being still further increased for the spring sowing down. Crested Dogstail.—There has been a fair turnover during the last two or three weeks. Dark stripped seed is today selling at round about 6d per pound, f.o.b. So, here again, Quality and germination largely affect the price. On the other hand, bright seed suitable for export commands prices on the average round about lOd per pound. STOCK REPORT

The stock market continues good in all sections, with a keen inquiry for fat cattle. Fat cattle v-ere offered during the week in reduced numbers, and values firmed considerably. Fat sheep are coming to hand in fairly large numbers, and values remained firm for all classes. The store sheep market continues good, and prices, although slightly lower than those quoted some weeks ago, are still very good, and remain firm. ' . , ■ The store cattle market remains turn, with a good inquiry for well-bred cattle of both sexes, and any lines coming to hand are keenly competed for. Fat Cattle.—Prime heavy bullocks, £l6 to £l7 17s 6d; medium-weight prime do, £l2 to £l4; lighter do, £lO to £ll 10s; prime heavy heifers, £ll to £l2 10s; medium-weight do, £8 10s to £9 10s; lighter. £7 to £7 15s; prime heavy cows, £l2 to £l3 10s; medium do, £8 10s to £9 15s; lighter do, £5 10s to £6 10s; vealers, £1 10s to £2 10s; runners, £3 to £4. Fat Sheep.—Extra prime wethers, to 50s- prime do, 46s to 48s; medium do, 40s’ to 425; prime heavy maiden ewes, 42s to 445; medium do. 38s to 40s; prime heavy aged ewes, 40s to 425, medium do, 36s to 38s; lighter do, 30s to 325; unfinished do, 25s to 275;. prime heavy lambs, 9 2s to 355; medium do. 25s to 275. i „ Store Sheep.—Best Romney ewe hoggets 40s to 42s 6d; medium do, 36s to 38s;' Romney wether hoggets, 26s to 28s; medium do, 22s to 245; two-tooth Romney ewes and lambs, 24s to 275; s.m. ewes and lambs, 21s to 245; f.m. do. 16s to 18s; poorer sorts, 12s to 14s. Store Cattle.—Three and four-year bullocks, £8 10s to £9 10s- two and three-year do, £6 to £7; 18 months do, £4 10s to £5 10s; two and three-year heifers, £3 10s to £5 10s.

Sale Reported £ s. d. Woolwortlis (Sydney) 1 9 6 dales Reported After Last Call Bank of New Zealand 2 3 9 Broken Hill Propy. (ex rights) 3 7 0 The following are Saturday morning’s buying and selling quotations, which are subject to the usual brokerage: GOVERNMENT LOANS Buyer. Seller. ■ H, £ s. d. £ s. d. 31 p.c. Stock, Nov., 1938-52 104 0 0 — 31 p.c. Stock, March, 1939-43 — 101 12 6 SI p.c., Stock, March, 1941-43 101 10 0 — 81 p.c. Stock, Sept., 1941-43 101 10 0 — 81 p.c. Stock, May, 1941-52 104 0 0 — 81 p.c, Stock, Nov., 1941-52 104 0 0 — MINING Big River (Is) .. .. 0 1 3i 0 1 6 Clutha River (2s) .. 0 3 3 0 4 0 Consol. Goldfields (4s) — 0 13 6 Gillespie’s Beach (Is) 0 1 3 — Kildare (2s) .. .. — 0 1 3 Molyneux River (2s) — 0 3 0 Maori Gully (Is) — 0 0 6 Nokomal (5s) .. .. 0 2 0 0 2 6 Okarito (5s) .. .. 0 2 9 0 3 9 Paddy’s Point (5s) .. — 0 1 6 Walpapa Beach (Is) .. — 0 0 3 BANKING N.S.W. (£20) .. .. 32 12 6 33 5 0 N.Z. (£1) 2 3 9 2 4 0 N.Z. (long D; £1) .. 1 8 9 1 9 6 Commercial (10s) — 0 17 6 Natl, of N.Z. (£2 10s) 2 17 0 — Natl, of A’asia. (cont.; £5) .. 7 3 6 — Union (£5) — 9 12 0 INSURANCE National (7s) .. ... 0 17 9 0 18 2 New Zealand (£1) .. 3 4 0 — South British (£1) .. — . 4 15 0 Standard (£1) ... .. — 3 0 6 SHIPPING Huddart, Parker (ord.; £1) 2 1 6 2 3 0 Huddart, Parker (pref.; £1) .. .. 1 7 0 — P. and O. Def. Stock (£1) 1 9 6 1 14 0 U.S.S. Co. (pref.; £1) 1 6 6 — (pref.; £1) .. .. 1 6 G — MEAT PRESERVING N.Z. Refrlg. (cont.. 10s) — 0 9 11 South. Frozen Meat (paid; £1) — 0 9 6 South Otago Freezing (£5) 5 5 0 G 0 0 Waitaki Farmers (£5) 4 5 0 — WOOLLEN COMPANIES Bruce (ord.; £1) .. — 0 12 8 Kalapoi (ord.; 17s) .. — 0 12 11 Kaiapoi (pref.; 17s) .. —• 0 17 3 Timaru — 0 17 0 Manawatu 1 14 0 — LOAN AND AGENCY N.Z. Loan and M, (ord.; £100) ., .. — 36 0 0 N.Z. Guarantee Corp. (3s) 0 4 7 — Otago Farmers (3s 4dl 0 3 0 — Perpetual Trustees (18s) .. .; .. .. — 2 18 0 Trustees, Executors (£2) 3 15 0 Wright, Stephenson (pref.; £1) .. ., 1 0 0 1 1 3 COAL Kaitangata (16s) .. .. 1 3 3 Westport (10s) .. .. 1 5 0 1 5 6 Westport-Stockton (ord.; 10s) .. .. 0 2 0 __ Westport-Stockton (pref.; 10s) .. . 0 4 9 —

MISCELLANEOUS Anthony Hordern (£1), 0 18 4 0 19 0 Australian Glass (£1) — 4 12 3 British Tobacco (£1) 2 7 9 2 9 0 Broken Hill Propy. (ex rights) .. .. 2 6 6 3 7 9 Broken Hill Propy. (rights) — 1 13 6 Colonial Sugar (£20) — 47 10 0 Consolidated Brick (£1) — 0 8 0 Dominion Rubber (£1) — 1 11 0 Donaghy’s Rope (£ 11 — 2 10 0 Stock Exchange Propy. (£1) .. .. 2 1 0 — Dunlop n erd. Rubber (£1) 1 2 0 — General Industries (12s 6d) 0 18 6 — G. i Coles (£1) 4 12 3 4 13 6 * Hume Pipe (£1) 0 19 10 — Milburn Lime (£1) .. — 2 3 6 Mort’s Dock (£1) — 0 11 6 Moturoa Oil (prof.; 5s) — 0 5 0 N.Z. Drug Co. (£2) ,. — 3 15 0 N.Z. Newspapers (16s 8d) — 1 18 6 N.Z, Paper Mills (£1) — 1 7 0 Regent Theatre (£1) 1 0 0 —- Shillings, Ltd (£1) .. — 0 18 9 Smith and Smith (pref.; £1) .. .. — 1 2 0 Taranaki Oil (£1 4s 7d) — 0 7 2 Wilsons Cement (10s) — 1 0 0 Woolworths (old: ord.) — 5 5 0 Wool worths (new) .. 4 18 0 — McKenzies Dept, Stores 4 7 0 4 10 0 BREWERIES N.Z. Breweries (£1) — 2 8 9 Dominion (£1) .. .. — 2 1 0 Carlton (£1) .. .. 3 1 3 — AUSTRALIAN MINING Austral N.Z. Mining (13s) '.. — 0 15 0 Broken Hill South (5s) 2 0 9 2 2 6 Electro. Zinc (pref.; £1) — 2 16 0 Electro. Zinc (ord.; ' £1) 2 11 6 2 14 0 Mount Lyell (£1) .. 1 18 3 1 19 3 Mount Morgan (2s 6d) 0 11 0 0 11 3 North Broken Hill (5s) 2 18 0 3 0 0 Placer Developments —- 3 9 0 Rawang Tin (10s) ... 0 10 11 0 11 6 UNLISTED STOCKS National Tobacco (£1) 3 2 3 — Woolworths (Syd.; 5s) — 1 9 9 Woolworths (S.A.; 5s) 0 15 8 — Selfridges (£1) .. .. 1 12 0 —

Sales on ’Change £ s. d. Stock, 1952-55, 4 per cent. .. 105 2 6 Kauri Timber 1 2 6 Broken Hill (rights; 2) .. 1 12 3 Dunlop Perdriau .. .. 1 2 2 Farmers’ Trading (new; 8s paid) 0 7 6 Electrolytic Zinc(ord.; 2) .. 2 13 0 Gear Meat 0 18 3 G. J. Coles 4 13 0 4 12 11 McKenzies .. .. .. .. 4 8 6 Golden Crown 0 4 3 Mount Morgan 0 11 2 WELLINGTON Sales on ’Change McKenzies (odd lot; late Fri.) 4 8 0 Wellington Gas (pref.) 1 4 9 Broken Hill 3 7 6 Broken Hill (rights; 3) .. 1 11 9 Macduffs, Ltd'. (3) .. .. 1 6 0 Wilsons Cement (2) .. 0 19 6 Unlisted Stocks Woolworths, Ltd. (late Fri.) 1 9 6 CHRISTCHURCH Sales on ’Change Commercial Bank of Australia 0 17 3 British Tobacco 2 8 3 Broken Hill South (cum div.) 2 i 1 0 Mount Lyell 1 18 8 (2) 1 18 9 Mount Morgan 0 11 3 Sales Reported N.Z. Refrigerating (£1 pd.) 1 0 6 Dalgety’s .. 9 15 0 Unlisted Slocks Woolworths (Sydney; 5s pd.) 1 9 8

Commonwealth Bonds— 4 per cent,, 1938 102 5 0 4 per cent., 1941 103 1 3 4 per cent., 1955 103 6 3 4 per cent., 1957 103 16 3 Bank of New South Wales 34 0 0 Tooths 2 15 3 Associated News (pref.) 1 3 9 Anthony Hordern .. .. 0 19 3 Anthony Hordern (pref.) .. 1 3 3 Austral Glass 4 12 3 Broken Hill Proprietary .. 3 7 9 Lights 1 11 6 Dunlop Perdriau 1 2 6 Electrolytic Zinc (pref.) 2 15 9 Goldsbrough. Mort .. .. 1 14 7

•** tW 4J N.Z. Sheep— O 0 0 Crossbred wethers and/ (Per lb.) or maiden ewes: d d. d Under 481b 53 5 1 G 49-50lb 4 1 5 3 8 57-641b 4} 4? 5 65-721b 41 48 Ewes Under 481b 4 48 48 49-561b 38 38 57-G4Ib 31 31 33 65-721b 3i 38 38 N.z Lambs— Canterbury: Under 361b 73 73 73 37-421b n 78 78 43-50Ib 7 7 74 Seeono nuality; Average about 311b .. . 71 78 78 Other South Island: Under 361b 7.3 78 37-42113 78 78 73 43-501b 7 7 78 North island Downs; Under 361b 7.1 78 8 37-421b 78 73 73 43-501b 7 7 78 Second quality; Average about 301b .. . 7} 7J 78 North Island. First quality; Under 361b 78 78 7.3 37-421. .. 78 78 78 Second quality: Average about 301b .. . 71 78 78 Australian Lambs— Victorian. First quaUty; 29-361b .. . — — — 37-421b — — Argentine Lambs— First quality (new season’s): Under 361b 71 78 78 37-421b n 71 78 N.Z. Frozen Beef— Ox hinds. 145-2101b .. . 48 48 41 Ox fores, 145-2101b ,, . 38 38 31 Australian Frozen Beef— Ox hinds, 145-2101b .. . 41 41 48 Ox crops, weights corresponding 38 38 31 N.Z Porker Pigs— First quality: 61-801b 78 78 73 81-1001b 71 71 71 101-1201b 71 78 71 N.Z. Baconer Pigs— 121-1601b 71 72 78 N.Z. Chilled Beef— Ox hinds, 145-2101b .. . 53 58 Ox fores, 145-2101b . 58 — 31 Australian Chilled Beef— Ox hinds. 145-2101b .. . 58 58 58 Ox crops, weights corresponding 38 38 38 Union of South Africa Chilled BeefOx hinds, 145-2101b .. . 51 53 33 Ox fores, 145-210Ib .. . 38 38 38 Southern Rhodesian Chilled Beef Ox hinds, 145-2101b .. . 5 58 53 Ox fores, 145-210Ib .. . 3a 31 31 Argentine Chilled Beef— Ox hinds, 145-2101b .. . 6 6 61 Ox fores, 145-2101b .. . 4 33 38 Uruguayan Chilled Beef— Ox hinds, 145-2101b .. . 5J 58 58 Ox fores, 145-2101b .. . 38 38 38 Brazilian Chilled Beef— Ox hinds, 145-2101b . — — — Lamb Market.—Shade easier owing to plentiful supplies home-killed. Mutton Market.—Wethers and ewes also weaker. Beef Market.—Frozen beef: Market steady and unchanged. Chilled beef: Hinds unchanged, fores shade firmer. N.Z. Porker Pigs.—Trade slow owing to muggy weather. N.Z. Baconer Pigs.—Nominal: none available.

Copper, ipot £43 1 3 Rise £0 1 lO'/a Copper, forward 45 6 lO'/i Rise 0 2 6 Electrolytic, ipot 49 ■0 0 No change Electrolytic, forward 51 0 0 No change * Wire ban ,, 51 0 0 No change Lead. ipot 18 II 10 Vi Rise .0 5 7'/a Lead, forward 18 II lO'/a Rise 0 S V/i Spelter, ipot 17 10 7 '/a Rita 0 3 I'/a Spelter, forward 17 15 V/2 RUa 8 1 3 Tin, ipot .. .. 218 17 6 Fall 3 17 8 Tin, forward 218 IS 0 Fall 3 10 0 Silver, itandard Silver, fine Oa. I9%d . " 21 7-16d Fall I-I6d Fall I-I6d

Paris— Pat RUGBY, Oct. 21. Oct. 23. Oct. 23. Francs to £ ] 124.21 146 13-32 146 15-64 Brussels— Belgas to £1 30 29,364 29.36 Oslo— Kroner to £ 1 IS.ISO 19.90 19.90 Stockholm— Kroner to £1 18.130 19.394 19.394 Copenhagen— Kroner to £] 18.150 22.40 22.40 Berlin— Marks to £1 20.34 12.332 12.324 Montreal— Dollars to £1 4.86 2-3 4.952 4.95 1-16 New York— Dollars to £) 4.86 2-3 4.95 9-16 4.954 Yokohama— Pence to yon 34.582 14 14 Hongkong— Fence to dollar 24.58 15 15 Bombay— Pence to rupee _ IS* IS* Batavia— Florins to £ 1 12.10 9.94 8.93* Milan— Lire to £1 82.46 94 S-16 94* Amsterdam— Guilder to £1 12.107 8.9GJ 8.95* Prague— Kroner to £] 1044 141 9-16 111 9-10 GenevaFrancs to £ 1 25.224 21. SOI 21.19 Vienna— Schillings to £1 84.804 204 264 Helsingfors— Marks to £1 193.23 220* 226* Mad r IdPesetas to £) 25.224 92 11-32 92 11-32 Belgrade— Dinars to £1 25.224 216 21P Athens— Drachmas to £1 875 5174 5174 Lisbon— Escudos to £1 110 111) 3-16 no 3-io Bucharest— Lo) to £1 931.0 672* 675 Bio de Janeiro— Pence to mllrels 5.890 4i 4* Buenos Aires— Pence to pesos 47.22 „ Shanghai— Pence to tael .. 14 8-16 14i Montevideo— Pence to pesos 39 13-16 39 13-16 Warsaw— Zlotys to £] - 26.21 26.21

£1 N.Z. to £100 Stg T.T 124/-/* 124/10/ O.D 123/10/124/8/9 Australia— £ A to £100 N.Z T.T. 101/-/* 100/10/O.D 101/-/-100/10/ Fiji— £ F. to £100 N.Z. T.T. 00/7/6 89/-/-O.D, 90/7/6 89/-/-New York— Dollars to £ N.Z. T.T. 4.0038 3.9093 O.D. 4.0138 3.9733 Montreal— Dollars to £ N.Z. T.T. 4.001!) 3.9694 O.D. 4.0139 3.9734 Austria— Schillings to £ N.Z T.T. 20.78 O.D. — 20.79 Belgium— Bclgas to £ N.Z. T.T 23.808 23.198 O.D. 23,883 23.509 Czechoslovakia — Crowns to £ N.Z. T.T. 112.81 O.D. — 112.86 Denmark— Kroner to £ N.Z. T.T. 18.203 17.893 O.D. 18.2C3 17.899 France— Francs to £ N.Z. T.T. _ 116.48 O.D. — 116.47 Germany— Reichsmarks to £ N.Z .. .. T.T. 9.834 O.D. — 8.839 Holland— Florins to £ N.Z. T.T. T.299 7.149 O.D 7.339 7.153 Italy— Lire to £ N.Z. T.T. 75.46 O.D. — 75.31 Java— Florins to £ N.Z. T.T. 7.275 7.125 O.D. 7.315 7.129 Norway— Kroner to £ N.Z T.T. 16.183 15.893 O.D 10.243 15.899 Sweden— Kroner to £ N.Z. T.T. 13.785 15.490 O.D. 15.845 15.496 Switzerland— Francs to £ N.Z. T.T. 17.460 17.190 O.D. 17.505 17.195 Noumea— Francs to £ N.Z. T.T, 315.18 O.D. — 115.22Papeete— Francs to £ N.Z. T.T. 115.23 O.D. — 113.27 Hongkong— N.Z. pence to 1 dollar .. .. T.T. 18 29-64 18 53-64 O.D. IS 27-64 18 53-64 India and Ceylon— N.Z. pence to 1 rupee .. .. T.T. 22? 22 21-32 O.D. 22 11-32 22 21-32 Japan— N.Z. pence to 1 yen .. .. T.T. 17 33-64 0 D. — 17 33-64 Shanghai— N.Z. pence to 1 dollar .. .. T.T. 18 11-64 O.D. — 18 11-64 Singapore— N.Z. pence to 1 dollar .. .. T.T. 34 23-32 35 13-64 O.D 34 i 35 13-64 Chefoo— N.Z. pence to 1 dollar .. .. T.T. 18 15-64 O.D — 18 7-32 Manila— N.Z. pence to 1 peso .. .. T.T. 29 47-64 30 15-64 O.D 29 41-64 30 15-64 All rates subject to alteration without notice

(J.S.A. Canada (Per £1 (Per £1 N.Z.) N.Z.) Selling— Dols Dnls T.T. 3.97 1-16 3.96 15-16 O.D. 3,97 7-16 3.97 5-16 Buying— 6.D. .. 4.01 7-16 4.01 5-16

October 23 . . .. 7 0 8 October 22 . . .. 7 0 6 October 21 . . .. ..7 0 7A October 20 . . . . ..7 0 October 19 .. .. , 7 0 5* October 18 .. , ..7 0 4A October 14 .. .. ..7, 0 4 October 13 .. .. , ..7 0 4 October 12 .. .. , .. 7 0 4> October 11 .. .. , 7 0 8A October 9 .. .. , .. 7 0 6‘.