COMMERCE AND FINANCE

Otago Daily Times, Issue 23354, 20 November 1937, Page 11

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS

0.1) 29 9-16 30 5-32 All rates subject to alteration without notice. DOLLAR RATES The Associated Banks (other than the Bank of New South Wales) quoted tlie following dollar rates yesterday on a New Zealand currency basis. They are subject to alteration without notice:— U.S.A. Canada • (Per £1 (Per £1 N.Z.) N.Z.) Selling— Dols. Dols. T.T 4.00 J 4.0011 O.D 4.01} 4.00 15-16 Buying— O.D 4.05} 4.04 15-16 LONDON METAL MARKET (United Press Associationi (By Electric Telegraph Copyright I LONDON. Nov. 18. The (ollowlno tre Hit official met.ii I'liMintoni-

BUTTER AND CHEESE (United Press Association) (By Electric Telegraph—Copyright) LONDON, Nov. 18. Butter is steady at a lower level. Danish, 140 s; choicest salted, New Zealand, 1225; Australian, 121 s; unsalted, New Zealand, 130 s; Australian, 128 s. With the arrival of 3175 tons of butter from Australia and New Zealand, the temporary famine which caused the sudden rise in prices has ended. Over 5000 tons are arriving before November 30 from the dominions. This supply is expected to reduce the price by several pence a lb. „ , Cheese is steady. New Zealand, white, 71s; coloured, 70s to 70s 6d; Australian, white and coloured, 69s to 70s. MOUNT LYELL SHARES (United Press Association) (By Electric Telegraph—Copyright) LONDON, Nov. 18. Mount Lyell shares are quoted at Ms 9d.

CANTERBURY MARKETS INTEREST IN SMALL SEEDS TRADE (Peb United Press Association) CHRISTCHURCH. Nov. 19. The continued dry weather has stimulated interest in the small seeds trade, and there are more inquiries in the market now than for some months. No great amount of business Is passing, but orders are more .healthy than for some time. The rains, which have been general throughout the South Island and which will do an inestimable amount of good to pastures and many crops, have arrived too late to prevent damage to the seed crop. Almost all lines, it appears, will be in light supply, and as stocks are not heavy the situation of the market is healthy. Reports from Banks Peninsula indicate that the cocksfoot crop will be thin and that the area is much reduced. Growers feel disinclined to employ labour for harvesting the crop. The quality of the seed is expected to be good. Oats have a very firm demand at present. Many crops in the South Island have been prematurely ripened by the hot spell, and the yield is expected to be light. Chaff is also in good demand. There is now little interest in potatoes. Some merchants are offering the equivalent of £3 5s on trucks for April-May-June delivery, but farmers are not disposed to deal.

FOREIGN EXCHANGES (British Official Wireless) (United Press Association) (By Electric Telegraph Copyright) RUGBY, Nov. 18. Baris— Par. Nov. IT. Nov. 18. Francs to £1 124.2] 147 8-16 UTg Brussels— Belgaa to £ 1 30 19.381 29.3 03 Oslo— Kronor to £1 18.180 19.00 19.90 Stockholm— Kroner to £1 18.130 19.391 19.39* Copenhagen— Kroner to £1 18.150 22.40 22.40 Berlin— Marks to £1 20.34 12.371 12.37 S Montreal— Dollars to £1 4.86 2-3 6.11 4.99 J New York— Dollars to £1 4.86 2-3 5.00 5-16 5.00 ■Yokohama— Pence to yen 34.582 14 14 Hongkong— Pence to dollar 24.68 16 15 Bombay— 181 Pence to rupee — 18* Batavia— Florins to £1 12.10 9.014 9.01* MilanLire to £1 82.40 85 8-16 95 Amsterdam— Guilder to £1 12.107 9.021 9.01* Prague— Kroner to £ I 104* 1424 142* Geneva— Francs to £1 25.221 11.601 21.61 Vienna— Schillings to £1 .. 84.861 164 20* Helsingfors— Marks to £1 198.23 2261 826* MadridPesetas to fi 1 15.221 02 11-32 92 11-32 Belgrade— Dinars to £1 26.22| SI 5 916 Athens— Drachmas to £1 .. STB 84 n 547* Lisbon— Escudos to £1 .. no 110 3-10 110 3-16 Bucharest— Lei to £1 931.6 6781 672* Rio de Janeiro— Pence to mllrels .. 5.890 8 29-82 3 29-32 Buenos Aires— Pence to pesos 4T.2I — — Shanghai— Pence to tael — It* 14 5-83 Montevideo— 89 18-16 Pence to pesos — »» 13-16 Warsaw— 96.81 Zlotys to £1 — 15.21 ON NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the' following rates for purchases and sale? of fnrelsD exchange yorterday Buying. Selling London— £1 N.Z. to £100 stg. .. .. .. T.T. 124/10/O.D 123/10/124/8/9 Australia— 100/10/- £ A, to £100 N.Z. T.T. 101/-/-O.D 100/10/FIJI— £ F to £ 100 N.Z. T.T. 90/7/6 80/-/-O.D. 90/7/6 89/-/-Kew York— Dollars to £ N.Z. T.T. 4.0443 4.0095 O.D. 4.0543 4.0135 Montreal— Dollars to £ N.Z. T.T 4.0879 4.0054 O.D. 4.0499 4.0094 Austria— Schillings to fi N Z .. T.T. — 20.86 O.D — 20.87 Belgium — Bclca? to £ N.Z. T.T. 23.816 23.508 O.D. 23.891 23.517 Czechoslovakia— Crowns to £ N.Z. T.T. 113.46 O.D. — 113.51 Denmark— Kroner to £ ..'.Z. T.T. 18.203 17.393 O.D. 18,263 17.899 France— Francs to £ N.Z T.T, — 117.38 O.D. — 117.40 GermanyReichsmarks to £ N.Z. .. .. T.T. 9.872 O.D. — 9.877 Holland— Florins to £ N.Z T.T 7.349 7.196 O.D. 7.389 7.200 Italy - Lire to S N.Z. T.T. — 78.16 -y.D — 76.21 Java— 7.169 Florins to fi N.Z. T.T. 7.819 O.D. 7.859 7.173 Norway— ’ Kroner to £ N.Z. T.T. 19.183 15.893 O.D. 16.243 15.899 Sweden— Kroner to £ N.Z T.T 15.786 15.491 O.D 15.846 15.497 Switzerland— Francs to £ N.Z. T.T 17.540 17.270 O.D. 17.645 17.275 Noumea— Francs to £ N.Z T.T. — 116.11 O.D — 116.15 Papeete— Francs to £ N.Z T.T — 119.16 O.D. — 110.20 Hongkong--N.Z, pence to 1 dollar .. .. i'.T. 18 25-64 18 49-64 O.D 18 23-94 18 49-64 India and Ceylon— N.Z pence to 1 rupee .. .. T.T 223 22 21-32 O.D 22 11-32 22 21-32 JapanN.Z pence to 1 ven .. .. .. T.T — 17 33-64 O.D — XT S3-64 Shanghai— N.Z pence to 1 dollar .. .. T.T. — 17 63-64 O.D — a 17 63-64 Singapore— N.Z pence to 1 dollar .. .. T.T 34 45-64 35 1-16 O.D. 34 89-64 35 1-16 ClietooN.Z pence to 1 dollar .. .. T.T. — 18* O.D. — 18 7-01 ManilaN.Z pence to 1 oeso .. T.T 29 21-32 30 5-32

Copper ip«t Ton £28 3 I’/a Fall II a 0 Copper forward 28 8 4'/j Fall II 3 9 Electrolytlo. ipot 43 0 0 Fall 1 0 0 Eleatrolytio. forward 45 0 D Fall 1 0 0 Wirt ban 45 0 0 Fall 1 0 0 Load «pol 17 0 7'/a Fall 0 6 3 Lead forward .. 17 0 7'/a Fall 0 6 3 Spatter ipot IS 13 9 Fall 0 9 lO'/a Speller, forward 15 18 3 Fall 0 9 4'/a Tin ipot ' .. ISI 12 S Fall 6 12 8 Tin. forward .. 181 12 6 Fall 8 7 8 Silver itandard 19 Ol II(id Rise II0d Silver fine 21 ’/»d Riio IIficl

PRICE OF FINE GOLD (United Press Association) (By Electric Telegraph—Copyright) LONDON, Nov. 18. £ s. d. November 18 .. 7 0 0 November 17 .. .. 6 19 10 November 16 .. .. 6 19 114 November 15 .. .. 7 0 1 November 13 .. .. 7 0 4 November 11 .. .. 7 0 14 November 10 .. .. 7 0 2 November 9 .. .. 7 0 0 November 8 .. .. 7 0 04 November 6 .. .. 7 0 4 AUSTRALIAN STOCK EXCHANGES (United Press Association) (By Electric Telegraph—Copyright) SYDNEY. Nov. 19. (Received Nov. 19, at 1C p.m.) The industrial share market was quiet and dull and, if anything, weaker to-day. Metal stocks sagged again, due to the weaker trend n London and Wall street. THE MORNING SALES Commonwealth Bonds— £ s. d. 4 p.c., 1947 101 17 6 4 p.c., 1944 103 12 6 4 p.c., 1950 104 7 6 4 p.c., 1951-55 105 0 0 4,p.c., 1951-57 103 5 0 Bank of New South Wales 33 0 0 Tooheys 1 12 3 Associated News 1 4 6 Associated News (pref.) .. 1 4 9 Broken Hill Propy 3 1 9 Broken Hill Propy. (rights) 1 8 6 Electrolytic Zinc (pref.) ,. 2 9 9 Henry Jones 2 9 3 ADDITIONAL SALES Bank of New South Wales 33 0 0 Bank of Australasia .. .. 11 3 0 Colonial Sugar 47 5 0 Associated News 1 4 6 Bums Philp 2 16 0 Tooths 2 15 6 General Industries .. .. 0 19 3 Felt and Textiles .. .. . • 1 13 101 Mauri Bros 3 8 6 Mark Foy .. .. .. .. 1 2 104 Australian Gas A 7 8 0 Morris Hedstrom (N.Z. delivery) 1 8 n Millaquin Sugar 1 18 3 Aust. General Insurance .. 0 16 41 Electrolytic Zinc 2 7 0 Mount Morgan 0 11 6 Broken Hill Proprietary .. 3 1 6 (rights) 1 8 6 North Broken Hill .. .. 2 11 3 Rawang Tin 0 10 5 Emperor 0 12 4 MELBOURNE, Nov. 19. Weaker metal prices and the fall on New York brought further selling in principal industrials and Barriers on the Stock Exchange to-day. Goldsborough, Mort were weak. but Commonwealth Loans were in demand. Com. Bank of Australasia .. 0 17 3 National Bank (£5 paid) .. 7 6 0 (£10 paid) 14 10 0 Carlton Brewery ,. .. 3 4 6 G, J. Coles 4 8 0 Australian Glass 4 9 6 Goldsbrough, Mort .. .. 1 11 9 Australian Foundation Investment Trust .. .. 0 5 8 (rights) 0 0 4 Electrolytic Zinc .. . / .. 2 7 6 (pref.) 2 10 3 Mount Morgan 0 11 6 Mount Lyell 1 14 44 Broken Hill Proprietary .. 3 1 0 North Broken Nill .. .. 2 10 74 South Broken Hill .. .. 1 16 0 Emperor ’ .. 0 12 4 Loloma 0 16 0