COMMERCIAL

Southland Times, Issue 25342, 22 July 1935, Page 3

COMMERCIAL

FOREIGN EXCHANGES. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, July 19. The following mean closing rates oi foreign exchanges were quoted to-day

FOREIGN EXCHANGES. ON NEW" ZEALAND CURRENCY BASIS The Bank of New South Wales quoted the following rates for Its purchases and sales on overseas currencies on Saturday (all rates subjected to alteration without notice)

SYDNEY STOCK EXCHANGE. (United Press Assn.—Telegraph Copyright.) Sydney, July 19.

METAL QUOTATIONS. (United Press Assn.— Telegraph Copyright.) (Rec. 6.30 p.m.) London. July 19. Quotations for metals are as fol-

FRUIT REPORT. LONDON APPLE MARKET. (Rec. 6.30 p.m.) London, July 20. Apples are in strong demand. Quotations for New Zealand grown, ex the New Zealand Star, the Port Bowen, the Rangitata and the Wairanga, are as follows: —Stunners, 11/9 to 12/6; Rokewoods, 9/3 to 14/6; Granny Smiths, 10/- to 18/6; Romes, 11/- to 12/9. Australian.—Stunners, 9/9 to 13/o, Rokewoods, 10/3 to 14/6; Granny Smiths, 12/6 to 14/6. STUD SHEEP. NEW ZEALAND EXPORT TRADE. The export trade in New Zealand stud sheep continues to expand, the Westmoreland, which sailed from Auckland last week, having taken a valuable consignment. Messrs Wright Stephenson & Co. Ltd. shipped to South American interests 44 stud rams of various breeds. The sheep were an outstanding lot, some being destined for Argentina and some for Uruguay. The shipment included ten Corriedale rams bred by Mr William Anderson, Bskdale, Waiau, North Canterbury, amongst them bemg a first prize winner at the Amun show, one of the leading Corriedale shows in

New Zealand. Several of the rams were sired by EsKdaie 35, one of Mr Andersons rams which was first prize four-tooth and champion at the Amun Show, being hrst in his class ana reserve champion (beaten by his sire) at the same Association's snow the previous year. Eskdale 3a was sola for a substantial price and exported to South America last year, 'lhe twenty-six Lincoln rams are an exceptionally good lot, ten of them having been breed by Mr E. T. Wilton, Rangitumau, Masterton, three bred by M. A. E. Anderson, Clareville, and thirteen bred by Mr L. R. Wilton, Rangitumau, Masterton. The Lincolns from these leading breeders are very much in favour in the Argentine. Five splendid Romney rams contributed to the high standard of the shipment, these being from the flocks of the well-known breeders, Sir William Perry, “Penrose,” Masterton; Mr Q. Donald, “Alloa,” Featherston; and Mr W. C. Small, Feilding. Sheep from these breeders’ flocks are well-known in South America and the steady demand for them from there testifies that they are held in high regard. In a recent communication from Argentina it is stated that if New Zealand continues to send Romneys of the same standard as previously they will prove serious competitors in that market to importations from England. The shipment is completed by three high class Merino rams bred by the well-known South Canterbury breeder, Mr Frank H. Smith, “Waratah,” Albury. These sheep arc destined for two notable estancias in Uruguay. The demand from Australia for New Zealand-bred sheep also continues, the Waitaki having taken a shipment of 30 Southdown ewes to Melbourne last week. These sheep were bred by Mr R. Bevan, ' Manakau, and were exnorfed through the agency of Messrs Wright Stephenson and Co., Ltd. NEW ZEALAND’S “BIG PUSH” FOR POTTERIES MARKET. TWO-WAY TRADE SHOW IN BRITAIN. (From Our Correspondent.) London, June 13. The latest efforts of the New Zealand Dairy Board, in conjunction with the Meat and Fruit Boards, to promote the cause of reciprocal Empire trade met with a remarkable enthusiasm throughout the Potteries to-day. An exhibition of New Zealand butter, cheese, meat and fruit, combined with a magnificent show of British pottery from fourteen leading firms in Staffordshire, was opened in the presence of the Prime Minister of New Zealand (Mr Forbes) and Mrs Forbes, accompanied by the High Commissioner for New Zealand (Sir James Parr), the chairman of the New Zealand Meat Board, and the London representatives of the New Zealand Dairy Produce, Meat and Fruit Boards. They were met at Stoke-on-Trent by the Lord Mayor (Alderman A. C. Harvey) and conducted to the “shop, where there was a representative gathering of pottery manufacturers, assembled under the auspices of the British Pottery Manufacturers’ Federation) and of retail grocers from all parts of the Potteries. Early in the proceedings the retail and wholesale grocers of Stoke-on-Trent and district presented to the Prime Minister, through their President (Capt. W. B. Green) a sample of Doulton ware, and volunteered a definite undertaking to do all in their power to push the sale of New Zealand butter in the Potteries. Speeches by the Prime Minister and the High Commissioner followed, after which the official party visited the Town Hall, Stoke-on-Trent, where they were the guests of the British Pottery Manufacturers’ Federation and the Chamber of Commerce. ,

Messages of Congratulation,

Messages were read congratulating the boards on their enterprise in promoting this novel method of encouraging Empire trade. Among the messages were the following:— Viscount Bledisloe (ex-Governor General of New Zealand): “I am delighted to learn that the exhibition shop is about to be opened in Hanley to promote the consumption in Staffordshire of the food products of New Zealand. Nevei - was it more essential to the continuous prosperty of Empire trade to foster reciprocity in the patronage and consumption of the stable products of New Zealand by customers of the Motherland and, conversely, that of the stable products of the Old Land by the inhabitants of New Zealand—a tendency which, I trust, will be promoted in Staffordshire by the recent decision of the New Zealand Government to permit the free entry into the Dominion of British table china. You have my most sincere good wishes for the success of this new trade enterprise in Hanley.” Mr Harold K. Hales, M.P. for Hanley: “At the present time, when this country has an adverse trade balance with almost every foreign nation in the world, it becomes an absolute necessity for the closest co-operation between Great Britain and the overseas Dominions for exchange of commodities to our mutual benefit, I am firmly convinced that there should be a Customs Union established throughout the British Empire at the earliest possible moment. New Zealand has always been in the forefront in offering preferential terms and, in many instances, free import for British goods, and in our reciprocation, by the purchase of New Zealand products whenever possible, we are proving in the most practical manner our earnest and sincere desire to assist our kinsmen overseas rmd thus strengthen the bonds of Em- ' During their speeches the Staffordshire representatives expressed their gratitude at the onportunity afforded of demonstrating their willingness to reciprocate New Zealand’s friendly gesture of removing the tariff on British table china by encouraging to the utmost the consumption of New Zealand products in the Potteries district. Mr Forbes responded and assured his hearers of New Zealand’s willingness and desire to give the utmost fiscal encouragement to the manufactures of the Potteries and, indeed, of every other British manufacture except those which could be more economically produced in the Dominion. Foreign Imitations. A remarkable allegation was made during the proceedings by Mr Ernest Johnson, president of the British Pottery Manufacturers’ Federation, that foreign competitors in the Dominion were not merely imitating the traditional designs of famous pottery firms, but some were labelling their products as being of the designs originated by those firms. He pleaded for legislative action by New Zealand to prevent the recurrence of this. It was stated that preliminary investigations carried out by the New Zealand Dairy Board’s staff show that the Potteries still remain one of the black spots of the United Kingdom so far as the marketing of New Zealand dairy produce is concerned. It is estimated that for every pound of New Zealand butter sold, there are sold 21 pounds of foreign butter. Every effort is being made to drive home to the people of the Potteries the folly of encouraging the sale of foreign butter when their own products are so closely allied to those of New Zealand. The reciprocal trade demonstration has received an exceptionally encouraging Press and the Staffordshire Evening Sentinel, the foremost, journal of the Potteries, in a leading’ article to-day, 'fates: “The bilateral trade agreements made with certain foreign nations are very useful, but the future of our overseas business is nrincipally with Empire countries. The larger interchange of manufactures from Britain and produce and raw materials from the Dominions and Colonies, making the Empire more and more self-contained and

economically united, is essential and reciprocally advantageous.” Subsequently, the Prime Minister and representatives of the Daily Produce, Fruit and Meat Boards visited leading manufactories in the district, where they received further good wishes from the principal representatives of the British pottery trade.

compared with par:— Par. To-day. Paris, fr. to £ 124.21 74} New York, dol. to £ 4.866 4.961 Montreal, dol. to £ 4.866 4.96 Brussels, belgas to £ 35 29.32 Geneva, fr. to £ 25.221 15.11 Amsterdam, fl. to £ 12.107 7.261 Milan, lira to £ 20.43 59 27-32 Berlin, rmk. to £ 24.43 12.26} Stockholm, kr. to £ 18.159 19.39} Copenhagen, kr. to £ 18.159 23.39} Oslo, kr. to £ 19.159 19.90} Vienna, schgs. to £ 34.585 26 Prague, kr. to £ 164.25 118(5 Helsingfors, m. to £ 193.23 227 Madrid, pesetas to £ 1 25.2215 36 Lisbon, escudos to £ 110 110} Athens, dr. to £ 875 515 Bucharest, lei to £ 818.6 490 Belgrade, dinars 270.31 215 Rio de Janeiro, p. to milreis 8.892 4} Buenos Aires, p. to dol. 45.577 15 Montevideo, p. to dol. 57 39} Bombay, pence to rupee 10 18} Shanghai, pence to dol. 18 5-16 Hong Kong, p. to dot 25 11-16 Yokohama, p. to yen 24.57 14} Batavia 7.251

New Zealand Buying Selling On London— £N.Z. to £100stg. T.T 124 124/10/O.D 123/10/124/8/9 Australia — £A to £100 NZ. T.T 101 100/IU/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 4.011 3.971 O.D. 4.023 3.97s Montreal— Dollars to £1 N.Z. T.T. 4.01$ 3.974 O.D. 4.022 3.984 France— Francs to £1 N.Z. T.T. 60.64 59.34 O.D. 60.94 59.39 Noumea — Francs to £1 N.Z. T.T. 61.59 58.59 O.D. 61.99 58.64 Papeete— Francs to £1 N.Z. T.T. 61.59 58.59 O.D. 61.99 58.64 Belgium— _ BeTgas to £1 N.Z. T.T. — 23.248 O.D. —-- 23.263 Germany— Reichmarks to £1 N.Z. T.T. — 9.646 O.D. — 9.651 Italy— Lire to £1 N.Z. T.T. 47.44 O.D. — 47.48 Switzerland— Francs to £1 N.Z. T.T. 12.359 11.959 O.D. 12.434 11.969 Holland— Florins to £1 N Z. T.T. 5.972 5.722 O.D. 6.022 5.726 JavaFlorins to £1 N.Z. T.T. 5.915 5.690 O.D. 5.965 5.694 Japan— N.Z. pence to 1 yen T.T. — 17 13-lb O.D. —— — Shanghai— N.Z. pence to 1 dollar T.T. 22 27-31 24 5-32 O.D. 22 23-32 24 3-32 India and Ceylon — N.Z. pence to 1 rupee T.T. 22 3-8 22 23-32 O.D. 22 1-4 22 21-32 Hong Kong— N.Z. pence to 1 dollar T.T. 31 1-2 32 9-16 O.D. 31 3-8 32 1-2 Singapore— N-Z. pence to 1 dollar T.T. 34 7-32 35 5-32 O.D. 34 3-32 35 3-32 Sweden — Kroner to £1 N.Z. T.T. 15.791 15.461 O.D. 15.831 15.471 Norway— _ Kroner to £1 N.Z. T.T 16.202 15.872 OD. 16.242 15.882 DenmarkKroner to £1 N-Z. T.T. 18.208 17.878 O.D. 18.248 17.888 Austria — Schillings to £1 N.Z- T.T. i. i» 29.5/ OD. —— 20.59 Czechoslovakia— 94.85 Crowns to £1 N-Z. T.T. — O.D. — 94.90 ■ —

Stock Exchange sales:— Commonwealth Bonds (4 per cents) — 1938 103 3 9 1941 103 17 6 1944 105 2 6 1953 105 9 6 1957 105 7 6 1959 105 11 3 Commercial Bank of Sydney 18 12 0 Bank of New South Wales 32 17 6 Union Bank 9 5 0 Toohey’s 1 10 7J Anthony Hordern 1 0 1| British Tobacco 2 0 3 Broken Hill Pty. 2 19 9 Howard Smith 16 0 Morris Hedstrom 1 2 0 Winchcombe 1 8 6

lows:— July 18. July 19. £ s d £ s d Copper— Standard spot 31 8 9 31 16 10J Forward 31 16 10J 32 5 41 Electrolytic 35 0 0 35 0 0 to 35 5 0 35 15 0 Wire Bars 35 5 0 35 5 0 Lead— Spot 14 17 6 15 1 3 Forward 14 18 9 15 3 9 Spelter— Spot 14 2 6 14 8 9 Forward 14 7 6 14 2 6 TinSpot 234 17 6 236 5 0 Forward 224 18 9 224 7 6 Silver— Fine, per oz. 30 3-16d 30 3-16d Standard, per oz. 32 9-16d 32 9-16d July 12. July 19. £ s d £ s d, Fig Iron— Home trade 3 7 6 3 7 6 Export trade 3 2 6 3 2 6 Antimony— British 74 10 0 74 10 0 Foreign 46 0 0 45 15 0 Molybdenite 1 14 6 1 14 6 Wolfram 1 11 0 1 11 0