COMMERCE AND FINANCE

Otago Daily Times, Issue 23686, 19 December 1938, Page 16

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS

THE SHARE MARKET DUNEDIN STOCK EXCHANGE INTEREST ON THE WANE, LOSSES OUTNUMBER ACTUAL GAINS A meagfe display of interest; coupled with a total lack of competition, resulted in a very poor call-over; on the Dunedin Stock Exchange on Saturday morning. There was a slight recession in values for a number of market leaders, but sellers showed no inclination to*grant concessions. ,• The' main feature in the banking section was the advance recorded in Union Banks, a buyer of which at £8 12s could get no response from holders, Bank of New Zealands had their first inquiry for some time, but a margin of 3d prevented a transfer being effected. Bond's Hosiery were conspicuous in • dull section for a rise of Is compared with the previous offer, but buyers at 15s remained unsatisfied. In common with other sections.of the market, miscellaneous- industrials reflected the dwindling interest, and although there were no sharp losses, the general trend was slightly easier. 1 ;. New Zealand Breweries lost a little f round to close with a final market etween £1 17s 6d and £1 18s 3d.' Only three Commonwealth mining ventures were inquired for, and values for each were fractionally easier at the close. SATURDAY'S BUSINESS SALE REPORTED

POOR RESPONSE IN LONDON < United Press Association) (By Electric Telegraph-Copyright) LONDON. Dec. 16. The underwriters were left with 60 per cent; of the Commonwealth conversion loan. Dealings opened at 2 per cent, discount. INTERNAL LOAN SUBSCRIBED (United Press Association) (By Electric Telegraph—Copyright) CANBERRA, Dec. 17. The Commonwealth cash and conversion loan has been fully subscribed. Most of the maturing loans have been converted, and enough new money was subscribed to pay off those who did not convert. In addition, the £4,000,000 of new money required for defence has been secured. THE FRANC (United Press Association) (By Electric Telegraph-Copyright) LONDON, Dec. 16. The franc is quoted at 177|. LONDON PRODUCE MARKET The Bank of New Zealand has received the following advice from its London office as at the close of business on Friday:— Frozen Meat.—Trade for wethers is slow, and the .market for ewes is quiet and unchanged. The market for lambs is dull, with a downward tendency. Wethers: Light, 4*d to 4|d per lb; heavy, 3Jd to 4Jd per lb. Ewes, 2id to 3d per lb. Lambs: Not quoted. FRUIT AND PRODUCE WORLD Reilly's report selling:— Per Dozen. —Christchurch asparagus, 12s. Hothouse cucumbers, 6s 6d to 8s 6d. Lettuce: Choice, Is to Is 6d; small, 6d. Spinach, Is 9d. Spring onions. Is. Spring carrots, Is 9d. Eggs, Is 4d Cauliflowers, 4s 6d to 6s Honey, 21b pottles, 17s 6d. Per Pottle.—Strawberries: Choice, Is id to Is 6d; jam, lOd to lid. Per Dozen Bunches, —Poppies. 2s to 3s; Irises, 18s to 245. Each.—Champion egg crates. 24 dozen, 18s. Per Case.—Californian grapes, Almerias, 30s; Emperors, 30s. Californian grapefruit, 355. New Zealand lemons, Keribest, 24s to 265; others, 20s to 22s 6d. Oranges: Jamaicans, 24s to 275; Australian Valencias, 17s to 21s 6d. Bananas: Ripes, 255. Apples: Delicious. 12s to 18s; Sturmers, 10s to 14s; Tasmas. 12s; Rome Beautys, 10s to 12s; Canadian Delicious, 245. Pears: Winter Neli.» 12s to 16s. Per Half Case—Cucumbers, 12s 14s. Nelson tomatoes. 15s. Per Lb.—Local grapes, 3s. Cherries: Choice. 9d to Is sd; small. 4id to 7d. Peaches, 6d to 7Jd. Local tomatoes, firsts. Is Id to Is 3d; dessert, Is to Is Id; tomatoes, Christchurch hothous» firsts, Is to is Id; dessert, lid to Is' seconds, 8d to lid. Local potatoes, lid to 2d. Green peas, 4£d to 64d. Broad beans, 2d to 2Jd. Rhubarb, 2d. Goose berries, lid to 2id. Kumeras, 2£d- TeaOrange Pekoe, 2s 10d. Cheese, 7d ti Bd, Butter: Storekeepers, lOd to lljd Bacon: Prime, Is 3d. Bacon and porker pigs, 7|d to 8d; over-weights. sd. Bulk honey, 5d to 64d. Beeswax; is 2d. Walnuts, 6d to 9d. Mushrooms, 4d to 84d. Red and black currants, 4d to sd. Cherry plums, 2id to 3d. Per Sack— Cabbage, Is 6d to 2 S 6d. Coconuts, 21s 6d. Per Cwt.—Onions: Canadians, 17s 6d. Potatoes: White tables. 3s to 4s. Olive oil, 18s. Lime sulphur, 3s 9d gallon. Restar, i gallons, 4s 6d. Semesan, lib 12s 6d. Red Rose nicotine sulphate, 101 b 465, 21b 15s. lib 9s, ilb 5s 6d. Arsenate of lead paste. 9d to Is 3d; powder, Is to Is 6d. Red oil, 4s 9d. D.P. Derris, for white butterfly control, lib tins 2s 3d, 101 b 15s. Fowl wheat, to 7s 3d. Partridge peas, 6s 6d. Maize, 7s. Oats: Gartons, 3s 6d to 4s per bushel. Crushed oats, 12s Bd. Cross Keys meatmeal, 15s bag. Bran, £5 ss. Pollard, £6 15s. Chaff: 8.0.5., £6. Clover Hay. £8 10s. Oaten straw, £4. Palmer's chick food. 101 b2s Bd, 251 b 6s, 501 b lis 6d, 1001 b 21s 6d. Poultry: 596 hens at 2s 2d to 8s 2d. 166 cockerels at 2s to Bs, 33 geese at 7s 6d to 10s. 23 ducks at 6s 8d to Bs, 24 bantams at Is to Is lOd, and, 100 chickens at 2d to 10d per pair. Turkeys Is 6d per lb, REILLY'S CENTRAL PRODUCE MART, LTD., Moray place, Dunedin, C.l.

MERCHANDISE MARKET The prices of all grades of sugars, including tablets, bulk and cartons, icing sugar, coffee crystals, golden syrup and treacle, have been advanced by 10s per ton. The Kaiapara, which arrived last week from Montreal, brought supplies of Canadian iodised salt, Canadian herrings and a number of canned lines. The Orari is due on December 22 from London with a number of English packings. These, however, can hardly be unloaded in time for the Christmas trade. Further supplies of Singapore pineapples are due this week. A reduction has taken place in the price of bar soap. First and second grade has been reduced £4 per ton, and third grade £3. The retail prices were correspondingly reduced, and are fixed. New season's dates, bulk and packet, were landed on Wednesday in good order, and merchants are making deliveries as quickly as possible to meet the Christmas trade. Some merchants are sold out of unbleached seedless raisins, the demand for which has been brisk during the past few weeks. The local market is very firm. The market for potted meats is firm, with prices showing an advance. New season's locally-canned whitebait is in short supply this season, and prices had advanced considerably. An advance of Jd per lb has been recorded in the price of maizena. Further supplies of new season's K peas are due to arrive to-day. Supplies of honey are practically all cleaned up for the season. Under the honey marketing regulations a levy of jd pea lb has to be paid per the medium of a seal, affixed to supplies. In the case of an Boz packet the seal will be of a value of id. The money is to be used for advertising purposes. A good demand is being experienced by merchants for the Christmas packings of cigarettes and tobaccos. Two new brands of cigarettes to make an appearance on the market are King's Gate and Royal Favourite. MINING NEWS NEW RIVER RETURN The official return of gold won by the New River Gold Dredging Company's dredge during the week ended December 15 was 640 z from 7000 yards treated in 128 hours' dredging time. WHITE'S ELECTRIC DREDGE White's Electric dredge, during the week ended December 15, won 51oz of gold from 6750 yards treated in 125 hours' dredging time. WEST COAST DREDGES (Per United Press Association) GREYMOUTH, Dec. 17. The Barrytown dredge return for the first half of December was 2660 z for 228 hours from 116,000 yards. The Bundl dredge recovered 82oz for 90 hours from 15,389 yards. The Argo dredge return was 590 z for 129 hours (13,500 yards). The Nemona Gold Dredging Company, Ltd., reports a return for the week ended on December 14 of 30oz for 122 hours' dredging and 14,000 yards treated. The Worksop Extended Gold Dredging Company, Ltd., has declared a dividend of 10 per cent. The company's return was 360 z. WELLINGTON, Dec. 17. The Murchison-Mataki Junction return for the week ended December 15 was 70oz of smelted gold for 129 hours and 20,000 yards treated. DOLLAR AND STERLING (United Pr«ss Association) (By Electric Telegrapn^-CopyrJght) LONDON, Dec. 16. Sterling exchange, London on New York, 4.67£. December 15 .... 4.671. . • December 14 .. ... 4.66-:<: December 13 .... 4.66 J December 12 .. .. 4.67 i December 9 .. .. 4.66 g December 8' .... 4.66| December 7 .... 4.683 December 1 .... 4.68 November 30 .... 4.66| November 21 .. .. 4.70 November 10 .. .. 4.74 J November 1 .... 4.75 5-16 October 1 4.82* September 28 .... 4.63 September 27 .... 4.73 September 1 .... 4.85 13-16 August 2 4.903 July 1 ' 4.951 June 1 .. • 4.94? May 2 .. 4.98 11-16 April 1 4.941 March 1 5.02 London on New York, during 1937 averaged 4.95 dollars to £1 sterling; on August 2, 1938, 4.903; on September 1, 4.85 13-16; but declined to as low as 4.63 to the £ on September 28. During October the rate varied between 4.78 J (October 4). and 4.75 g (October 21). LONDON SHEEPSKIN SALES Messrs Dalgety and Co., Ltd., report:— At the sheepskin sales recently held in London there was a good selection. A total of 4090 bales was offered. Competition was irregular for New Zealand skins, practically no American buying. Best halfbreds, about 5 per cent, lower. Other descriptions, were sold, about 10 per cent, lower (withdrawals heavy). Good competition for Australian skins, 85 per cent, sold about 2£ per cent, lower. Quotations are as follows: Merino three-quarter to full wool, 7d to 8d; merine quarter to half wool and merino short and shorn, not quoted; fine crossbred three-quarter to full wool, 7d to 82d; medium and coarse crossbred three-quarter to full wool, 5d to 7|d; fine crossbred quarter to half wool, 6d to 7d; medium and coarse crossbred quarter to half wool, 5d to 7d; short and shorn crossbred, 3£d to s§d; lambs, 6Jd to Bd.

FROZEN MEAT MARKET SMITHFIELD PRICES (Peb United Press Association) WELLINGTON, Dec. 17. The New Zealand Meat Producers' Board advises that the following are the ruling prices ol wholesale quantities of the descriptions of frozen meat mentioned and are foi rppresentative parcels of the poods sold on Thursday, December 15. 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 are also shown:-

Lamb Market.-—Our stocks of old season's practically exhausted, Australian weaker owing to heavy arrivals and slow trade. - Mutton Market.—Wethers and ewes: Trade quiet and prices, where changed, slightly lower. Beef Market.—Frozen beef: Meeting with good demand. Chilled beef: Firmer this week owing to lighter supplies. New Zealand Porker Pigs.—Prices firmer. ' New Zealand Baconer ■ Pigs.— Nominal, owing to very few available. Boneless Bobby Veal.—Trade still slow.

TIMARU WOOLLEN COMPANY LOSS OF £12.492 A loss of £12,492 10 s 2d was disclosed in the annual report of the Timaru Worsted and Woollen Company, Ltd., at the second annual meeting of shareholders, which was held at Timaru last week. Mr W. H. Walton presided. The annual report* said that wool stocks purchased in anticipation of an Increased turnover in both woollen and worsted departments had been written down to present-day values. The heavy importation of textile goods from overseas had seriously affected production, which had also been prejudiced by increases in wages and working .costs. The chairman expressed regret that the trading account showed such a great loss for the year. A sum of £4865 8s 4d represented loans on the manufacturing account, and a sum of £1487 9s was provided for depreciation of assets, and the balance of the loss covered the writing-down of wool and yarn stocks. In 1937 the woollen plant was working at almost full capacity, and, anticipating that both woollen and worsted plants would be similarly occupied during 1938, wool was purchased to meet the estimated demand of both plants. Owing to the heavy importations of textile goods from overseas, there was a sharp decline in orders early in 1938. consequently in production, continued Mr Walton. The total production of the worsted and woollen plants during 1938 was less by one-third than the production of the woollen plant only in 1937. The reduction in output left the company with heavy stocks of wool at the end of the season, and, as wool prices had fallen considerably, a corresponding reduction in the values of stocks on hand had to be - made. The stocks of to-day appeared at £30,577, compared with £37,711 2 S 2d a year ago. "Early in the year," remarked the chairman, "it became apparent that trading conditions would be extremely difficult, and every effort has been made to minimise the loss. Substantial reductions in the number employed by the company have been made, short time was worked, and other economies were introduced wherevr practicable, without impairing efficiency or the quality of the goods manufactured. Unremitting efforts to popularise Timaru tweeds and blankets and to increase production have been, and continue to be, made " NEW YORK STOCK EXCHANGE (United Press Association) (By Electric Telegraph Copyright* NEW YORK, Dec. 16. The Stock Exchange turnover totalled 1,150,000 shares. TREASURY BILL TENDERS (British Official Wireless" (United Press Association) (By Electric Telegraph—Copyright) RUGBY, Dec. 16. The total amount applied for in tenders for £30,000,000 in Treasury bills was £70,575,000, the maximum amount allotted in bills at three months. The average rate per cent, was 20s 0.79 d, as compared with 19s 2.21 d a week ago. BULOLO SHARES (United Press Association) (By Electric Teleeraph—CoD.vrlKhti LONDON, Dec. 16. Bulolo shares are quoted at £5 3s 9<L

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:— U.S.A. Canada - (Per £] (Per £1 N.Z.) N.Z.) Dols Dols Spiling— T.T 3.714 3.74 11-16 O.D 3.71 g 3.75 Buying— O.D 3.76 J 3.80 S SHARE QUOTATIONS (United Press Association) (By Electru' relesraph--Copvrigtit» LONDON. Dec. 16. Shares quotations: Clutha Riverbuyers Is 3d, sellers Is 6d; Molyneux —buyers 7£d, sellers 10Jd. NEW GUINEA GOLD SHARES (By Electric Telegraph—Copyright) (United Press Association) LONDON, Dec. 16. New Guinea gold shares are quoted at Is 2d. FRIDAY'S CLOSING PRICES (United Press Association) (By Electric Telegraph--Copyright) LONDON, Dec. 17. (Received Dec. 18, at 6.30 p.m.) Yesterday's closing prices were:— Cotton, 5.16 d per lb; January shipment. 4.75 d. Rubber: Para, 7Jd per lb; plantation smoked. Bd. Jute: December-January shipment, £l9 6s 3d a ton. Copra: January-February shipment, South Sea. £9 7s 6d a ton; smoked, £9 7s 6d; plantation Rabaul, £lO 2 S 6d. Linseed oil. £25 5s a ton. Turpentine, 32s 3d per cwt. Rabbits: Steady trade; first large ex store. 17s Bd. PRICE OF FINE GOLD (United Press Association) (By Electric Telegraph—Copyright) LONDON. Dec. 17. £ s. d. December 17 .. .. 7 811 December 15 .... 7 8 8 December 14 .... 7 9 0. December 13 .... 7 9 14 December 12 .. • • 7 8 10| December 9 .... 7 9 0 December 8 .. .. 7 811 December 7 .... 7 8 5 December 5 .... 7 8 0 December 2 .... 7 8 74 December 1 .. ..7 8 6* November 30 .... 7 9 1 November 29 .. . - 7.9 3 November 28 .... 7 9 94 November 25 .. .. 7 9 10j November 24 .... 7 8 9 November 22 .. ..789

£ S. (i. 6. J. Coles .. .. . .' ... ; •;. 4 2 0 LATEST QUOTATIONS The following are Saturday morning's buying and selling quotations , which are subject to the usual brokerage :- - GOVERNMENT LOANS 1 ' '""•''-'-.: ' •;.. ' " ' Buyer. Seller. £ s. d. £ o d 4. be. Stock, Nov., 1949-52 ... .. ,. 88 IS 0 97 10 0 31 ' p.c. Stock, March, 1939-43 .. ..... ■ — WIS 0 3i p.c. Stock, Sept., 1939-43 .. '.;■■ .. i ; ;"'— - 97 15 0 3 p.c. Stock, 1939-41 .. 94 10 0 — 4 p.c. Bonds, 1943-46 ,. 98 10 0 _ 4 p.c; Stock. 1943-40 .. 98 10 0 •: ; l — ,■'■ Rural Bonds .. .. "—' 99 0 0 MINING Austral New Zealand 1 3 0 '_ Argo (Is) .. •.. '-'„., ■-" ~~ 9 3 0 Big River (Is) .. ,. 0 0 11 — c oldfields Dredging —. 0 0 3 NoKomai (5s) .. ,. • 1 4 — Okarito (5s) ■ .... ', ■«—■ 0 2 3 Sandhills (Is)". .. V. — 0 0 21 BANKING N.S.W. (£20) •«.'• 1. 30 0 0 32 00 N.Z. (£1) .... .. 1 19 9 2 0 0 Commercial (10s) '— 0 16 8 Natl, of N.Z. (£2 10a).. 3 8 0 2 11 0 Union (£5) .... .. 8 12 0 —V ' ." INSURANCE National (7s) .. .. _ 0 15 6 South British (10s) — 2 2 0 Standard (£1) ..' ., 2 10 6 •"-/ SHIPPING Huddart, "Parker ;, (ord.; £1) .. ;. 3 10 0 .""* Huddart, Parkor (pref.; £1) ... .. 1 S 8 :;' «■.*;, MEAT PRESERVING Gear Meat (10s) -. 0 13 6 N.Z. Refrlf. (cont,; m 10s) .'. v. .. r . mX 0 8 3 South, fro?. Meiit (paid; *%) » j.; ;: '. ~ • 110 0 ,' WOOLLEN COMPANIES 1 ;}; V') i; Bond's Hosiery't£:l) 0 IS 0 "''"— : -."' Bruce (ord.; £1) .?!> ,.0; ; S,: ,3 V —; .. ' LOAN ANU ; AGENCY Goldsbroujjh, Mort (£1)'- ; ,'.V ..•: ;..'\>:. ,■'( ,*:—•' 1 10 0 N.Z. Guarantee Corp. (3s) '.,., «', ,,-J',. •"*"■" ft 4 6 Wright, Stephenson (ord.; £1) .. .. ■"'■' 'Ui~ 13 9 Wright, Stephenson (pref.; £1) .... 0 19 • — . COAL AND OIL Kaitangata (16s) ',"." 1 5 0 18 0 Westport (10s) .. .. •— 13 0 Moturqa Oil {prelf 5sJ .. .. .. ,. —- 0 8 0 Taranaki Oil (£1 Is 7d) " ... •• •• .. 0 10 • :•— ■" MISCELLANEOUS' ;,. ■■-., >.y\ Associated News (£1) i:. x 6 : : :.. ■L m ■ Associated ' News (pref.; £1).. i.' .. 1 3 0 — Australian Glass (£1) •;» :r '4: 0 .—, Aust. Iron and Steel <prefi; i£l)'' .. .. 1 8 0 '■:' — ' •', Broken Hill Pry. 217 9 2 18 3 Brown, Ewing (ord.; '' '.— 0 18 6 Brown, Ewihg '(pre*!.; £i) .,-y. — 116 Crystal Ice (£1) .-. 1 15 9 — D.I.C, (pret; £1) .. ■™- 1 3 3 Stock Exchange Prop. ■ "— 2 3 0 G. J. Coles'(£1) : .. 4 0 0 4 2 0 Milburn Lime (£1).. 1 11 0 1 13 6 Morts Dock (£1) 0 13 3 0 14 6 N.Z. Paper Mills (£1) — 11 9 Otago Daily Times ' "'"i 1 (£1) .. .. .. .., — 2 2>0 Smith and Smith (pref.; — 12 0 Woolworths (Sydney; — 1 1 10 BREWERIES N.Z. Breweries (£1) 1 17 6 1 18 3

AUSTRALIAN MINING Electrolytic Zinc (ord.; £1) . 2 5 0 — Mount Lyell (£1) ., ' 1 ,8; 9 1 10 0 Mount Morgan (2s 6d) . .0 9 7 0 10 1 North Broken Hill (5s) - 2 10 0 DIVIDENDS PAYABLE The following is a list of shares on which dividends will shortly be payable:— . National Electric—5 p.c. Is To-day Mount Lyell—Final. Is a To-day Sulphide Corporation—Pref.. Is (sterling), per share .. Dec. 22 Morris, Hedstrbm. Fiji—InDec. 31 R. arid E. Tingey, Ltd.—Interim, half-year 3 p.c; .. British Tobacco—Final, ord. Dec. 31 at 10 p.c. per annum, and interim 2 p.c. .. .... Dec. 31 National Bank of New Zealand, Ltd.—Interim 2J p.c, less U.K. income tax Jan. 4 Wellington Woollen Company—Interim 2J p.c, ord. and preference shares Jan. 5 Woolworths Properties, Ltd.— Interim half-yearly at 6 p.c. - Jan. 15 CALLS PAYABLE The following is a list of shares on which calls will shortly able:— N.Z, Paper Mills—New, 5s a be payshare, making £1 paid .. Dec. 31 NORTHERN EXCHANGES AUCKLAND Sales on 'Change £ s.d. Commonwealth Bonds— 4 p.c, 1941 104 0 0 Commercial Bank of Aust. 0 16, 6 Bank of New Zealand 2 0 0 N.Z. Insurance ./ .. .. 2 11 0 1 2 6 Dominion Breweries 1 10 n 0 10 9 0 11 0 0 10 1 WELLINGTON Sales on 'Change Commercial Bank of Aust. (lateFri.) .. .... .. 0 16 8 N.Z. Insurance (late Fri.) 2 11 0 N.Z. "Breweries (late Fri.) 1 18 0 Woolworths, Ltd. .... 1 1 11 CHRISTCHURCH Sales on 'Change Bank of N.Z. (ex div.) .. 2 19 11 0 10 5 Wellington Alluvials 0 5 0 0 15 9 0 15 6 (2) 0 S 15 3 015 0 Sales Reported 4 p.c. (Inscr.) Stock, 1943-46 98 5 0 2 2 0 AUSTRALIAN LOANS

6 ej \.z. SheepCrossbred wethers and/ or maiden ewes: 65-721b 1 a 42 44 44 44 Q 0 (Per lb.) d a 44 41 44 41 44 41 Ewes. 49-561b 3 22 2i 28 3 n 3 23 2g 21 •v/,. Lambs Canterbury: Under 361b 37-421b - _ - Secona quality: Average about 311b .. .. __ 6? othei South Island: 43-501b - - n North island Downs: 37-421b - .. - - Secono quality: Average about 301b .. .. _ _ _ North Island: First quality: - ~ - Seeuna quality: Average about 311b .. .. — _ _ Australian Lambs— Victorian First quality: 37-421b v .. 71 7 72 7 * 73 71 Argentine LambsFirst quality: 62 61 7 6i 7 62 •N./. frozen BeefOx hinds 145-210lb .. ,, Ox fores, 145-2101b .. .. 44 34 44 31 44 38 'Australian Frozen BeefOx hinds, 145-2101b .. .. Ox crops, weights corre41 31 41 31 41 31 N.2 Porkei Pies— First quality.: 71 si 71 11 74 74 68 N.z Baconer Pies— 6 6 Si Boneless Bobby VealEx store, in parcels .. .. 41 41 41 i Chilled oeet prices are approximate aver» age prices realised for the week) n.z, Chilled BeefOx hinds, 145-2101b .. .. Ox fores, 14S-2101b .. .. 52 34 5 ? 31 52 33 Australian Chilled BeetOx hinds, 145-2101b .. .. Ox crops weight? corre52 32 51 31 58 38 Union oi South Africa Chilled BeefOx hinds, 145-2101b .. .. Ox fores, 145-2101b .. 51 32 _ 64 32 Southern Khodesian Chilled Beef—. Ox hinds, 14S-2101b ,. .. Ox fores, 145-2101b .. .. 52 31 51 32' 5X 33 Argentine Chilled BeefOx hinds, 145-210Ib .. .. Ox fores, 145-2101b .. .. 61 4 f 61 41 Uruauavan Chilled BeefOx hinds, 145-2101b .. .. Ox fores, 145-2101b .. .. 61 32 51 3J 6i 4 Brazilian Chilled BeefOx hinds. 143-2101b .. .. — — .' — # New Zealand and Australian frozen beef second quality.

FOREIGN EXCHANGES fBritish Official Wireless) (United Press Association) <E(y Electric TeleKraoh—CopvrlRht) RUGBY Dec. 17. Paris- far. Dec. 15. Dec. 17. Francs to £1 124.21 1778 177 9-16 Brussels— BelgaMo £1 80 27.76J 27.761 OsloKrouerto£) 18.1SC 19.901 19.901 stockholmKroner to £) 18 130 19.42 19.42 • "penhagen— Kroner to £) 18.150 22.40 22.40 BerlinMarks to fll 20.34 11.63 11.644 Montreal— Hollars to £1 4.86 2-3 4.724 4.711 Mew Vork— Dollars to £1 4.88 2-3 4.671 4.673 vokoliama— Pence to yen >i4.582 14 14 Hongkong— Pence to dollar 24.58 15 15 Bombay— Pence to rupee — 17 59-64 17 59-64 BatavlaFlorins tr £) [2,10 8.59 ' 8.58 MilanLire lu £) 62.46 882 88 13-16 Amsterdam- ' f!ullderto£l 12.10? 8.601 8.591 I'ragueKroner to £1 104} 1364 1364 Ueneva— Francs to £1 25.22J 20.684 20.86 Vienna— Shilling!' to £1 .. S1.86J 264 261 Heiswgfors— Marks to £1 193.23 2262 2261 Madrid''esetaf to £1 .. 25.22} — — Belgrade— Dinars to £1 25.22) 209 209 AthensDrachmas to £1 .. S75 5474 547} LisbonEscudot to ei .. no 110i 1161, Bucharest— Lei to £1 931.8 660 660 Itlo de JaneiroPence to milrels 6.890 3 1-16 S 1-16 itiienojt AiresPence to pesos 47.22 20.64} 20.84 Shanghai*— Pence to tae) - 81 14 .MontevideoPence to pesos — 181 181 Warsaw— Zlotvstofi] - 24.75 34.78 •NomlnaL ON NEW 2EALAND CURRENCY BASIS i The Bank of New South Wales. Dunedln. quoted the following rates i for purchases and sales of foreign exchange on Saturday:— London— Buying Sellitiu £1 N.Z. to £100 124/10/ 125/-, O.D 124/1/3 124/19/6 Australia— £ A. to £100 N.Z. T.T. 100/10/' 100/-/ O.D. 100/10/100/-/ riji- . £ P. to £100 N.Z. T.T. 90/./. 88/12/6 O.D 90/-A 88/12/6 New YorkDollars to £ N.Z. T.T. 3.T654 3.7165 O.D. 3.7704 3.7175 MontrealDollars to £ N.Z. T.T. 3.8047 3.7445 O.D 3.8134 3.7455 Belgium— Belgas to £ N.Z T.T. 22.460 21.920 O.D. 32.535 21.925 Czechoslovakia— Korunas to & N.Z T.T, — 107.68 O.D. * —. 107.70 DenmarkKroner to £ N.Z. T.T. 18.218 . 17.686 O.D. 18.278 17.688 Finland— Marks to fi N.Z. T.T. 186.15 178 O.D 186.55 176.10 France— ; . Francs to £ N.&. T.T. 144.86 139.86 O.D, 130.88 Germany— Helehsmarks to £ N.Z .. .. T.T. _ 9.16T O.D. — 9.169 Greece— Drachms to £ r.T. _ 418.68 N.Z. .. ,. o.D. — 418.83 UollandFlorlnsto £ N.Z. T.T. 7.022 6,76? O.D. 7.062 6.769 ItalyLira to fi N.Z. T.T. »— 70.52 O.D ,..—. :' 70.54 JavaFlorins to £ N.Z. T.T. 6.994 6.734 O.D 7.034 6.736 Norway— ; Kroner to £ N.Z r.T" 16.201 15.704 O.D 16.261/ 15.707 Noumea— Francs to £ N.Z. T.T. 149.88 136.36 O.D . ■ 136.40 " I'upeete— ,-■ Francs to £ N.Z. T.T. 148.66 136.66 O.D ' „ 136.70 SwedenKroner to £ N.Z. T.T. 15.823 15.321 O.D. 15.883 15.324 SwitzerlandFrancs to £ N.Z. T.T. 16.766 16.301 O.D. (.'hefoo— 16.871 16.308 *?.Z pence to 1 T.T. |B \ dollar ., ,. o.D. ,_, • - — Hongkong— VZ. pence to 1 f.T. 18 7-16 19 3.32 dollar .. .. O.D 18 13-32 19 S-32 mdla and Ceylon— pence to I T.T. 22 0-64 22 41-64 rupe> .. .. O.D. Japan— 22 7-64 22 41-64 x '/. nence to 1 T.T. _ 17 23-32 yen .... O.D _ 17 23-32 Manila— * 7. pence to 1 T.T. — —. . peso .. .. O.D _ — Shanghai— v 2 pence to 1 T.T. „. «a» dollar .. .. O.D _ T Singapore— *> Z pence to l T.T 34 29.64 35 19-64 dollar .. .. O.D 34 25.64 85 19-64 AH rates subject to alteration without notice.