COMMERCIAL

Southland Times, Issue 25362, 14 August 1935, Page 3

COMMERCIAL

FOREIGN EXCHANGES. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, August 12. The foreign mean closing rates of foreign exchanges were quoted to-day compared with par:— Par. To-day.

ON NEW ZEALAND CURRENCY BASIS. The Bank of New South Wales quoted the following rates for its purchases and sales on overseas currencies yesterday (all rates subjected to alteration without notice):— New Zealand On Buying Selling

BRITISH WAR LOAN. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, August 12. The 3J rer cent, war loan is quoted at £lO7 2/6.

GLENHAM DAIRY FACTORY CO. LIMITED.

ANNUAL MEETING. (From Our Correspondent.) The annual meeting of the Glenham Dairy Factory Company was held on Friday afternoon when the chairman, Mr Diack, presided over an attendance of 17. In moving the adoption of the annual report (already published), Mr Diack reviewed the prices received during the year for produce. The season had been a most difficult one, both from directors’ and suppliers’ points of view, he said. Although they had not always got peak prices they had done their best, and with a payment of {d at the meeting, the total payment was lOd. In addition to this, they still had some consignment to hand, on which they had put 5d per lb, but later had decided to accept the ruling price, and, on to-day’s market this would just about realize sd. As regards conditions next year he did not regard them very encouraging owing to the subsidy being paid at Home. Under this scheme the British farmer was making more cheese, and although the quality was not good, it was finding a ready market at 41/- to 42/- and. he was afraid this would have the effect of bringing the price of their produce down to this level. He had been reliably informed that cheese when it reached Home, was looked on solely as cheese, and no premium was available. It was rather peculiar, too, that with all this propaganda and regulations they could not improve the price of their cheese, while a factory in the North Island, equipped with the last thing known in cheese manufacture could not get one ton of finest. Even with the decreased Dominion’s stocks it was hard to forecast what the outlook would be owing to the subsidized scheme at Home. . Their output had decreased during the year, which had increased their manufacturing costs, as they had the plant to handle a larger output. Mr J. Jennings seconded the motion. In reply to Mr Lynn, the chairman said the main reason for manufacturing costs being up was the decreased milk supply, as they could handle a higher tonnage with very little more expense. A new contract had been made with the railways, costing 2/6 more than previously. The cartage at present was 25/- a ton from, factory to cool stores, and this was cheaper than when the train had been running, when the price had been 27/-. The motion was carried. < Four nominations were received for three vacancies on the directorate, Messrs T. Hunter, W. Diack, and T. Thwaites being elected. Mr D. M. Scandrett was re-elected auditor. It was decided to pay no dividend on share capital. In reply to a question the secretary said that some 200 shares were still held by “dry” shareholders. At a meeting of directors Mr Diack was re-elected chairman. BRADFORD TOPS. (United Press Assn.—Telegraph Copyright.) London, August 12. The Bradford tops market is firm, but quie*

Paris, fr. to £ 124.21 74 61-64 New York, dol. to £ 4.866 4.97 3-16 Montreal, dol. to £ 4.866 4.971 Brussels, belgas to £ 35 29.41 Geneva, fr. to £ 25.221 15.17 Amsterdam, fl. to £ 12.107 7.34.1Milan, lira to £ 20.43 601 Berlin, rmk. to £ 24.42 12.291 Stockholm, kr. to £ 18.159 19.391 Copenhagen, kr. to £ 18.159 23.391Oslo, kr. to £ 19.159 19.901 Vienna, schgs. to £ 34.585 26 Prague, kr. to £ 164.25 1191 Helsingfors, m. to £ 193.23 226J Madrid, pesetas to £ I 25.2215 36 5-32 Lisbon, escudos to £ 110 nog Athens, dr. to £ 875 517 Bucharest, lei to £ 818.6 625 Belgrade, dinars 270.31 216 Rio de Janeiro, p. to milreis 8.892 41 Buenos Aires, p. to dol. 45.577 15 Montevideo, p. to dol. 57 393 Bombay, pence to rupee 10 181Shanghai, pence to dol. 18 Hong Kong, p. to dol. ———- 25 5-16 Yokohama, p. to yen 24.57 141 Batavia — 7.321

London — - £N.Z. to £100stg. T.T. O.D. 124 123/10/124/10/- • 124/8/9 Australia— 100/10/£A to £100 N.Z. T.T. 101 O.D. 101 100/10/Fill— £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. 4.023 3.981 O.D. 4.03s . 3.98J Montreal— Dollars to £1 N.Z. T.T. 4.01J 3.981 O.D. 4.03a 3.98a France— 59.56 Francs to £1 N.Z. T.T. 60.86 O.D. 61.16 59.61 Noumea — 58.81 Francs to £1 N.Z. T.T. 61.81 O.D. 62.21 58.86 Papeete— 61.81 58.81 Francs to £1 N.Z. T.T. O.D. 62.21 58.86 Belgium— 23.324 23.339 Belgas to £1 N.Z. T.T. O.D. Germany— Reichmarks to £1 9.666 N.Z. T.T. —— O.D. —-— 9.671 Italy— Lire to ; £1 N.Z. T.T. 47.86 O.D. —— 47.90 Switzerland12.007 Francs to £1 N.Z. T.T. 12.407 O.D. 12.482 12.017 Holland— 6.034 5.784 Florins to £1 N.Z. T.T. O.D. 6.084 5.788 Java— Florins to £1 N.Z. T.T. 5.987 5.762 O.D. 6.037 5.766 Japan— N.Z. pence to yen 1 T.T. — 17 27-32 O.D. Shanghai— N.Z. pence to dollar 1 T.T. 21 5-8 22 15-16 O.D. 21 1-2 22 7-8 India and Ceylon— N.Z. pence to rupee 1 T.T. O.D. 22 3-8 22 1-4 22 23-32 22 21-32 Hong KongN.Z. pence to dollar 1 T.T. 30 7-8 31 15-16 O.D. 30 3-4 31 7-8 Singapore— N.Z. to dollar i- 1 T.T. 34 5-32 35 3-32 O.D. 34 1-32 35 1-32 Sweden — Kroner to £1 N.Z. T.T. 15.788 15.458 O.D. 15.828 15.468 Norway— Kroner to £1 N.Z. T.T. 16.199 15.869 O.D. 16.239 15.879 Denmark— 18.208 17.878 Kroner to £1 N.Z. T.T. O.D. 18.248 17.888 Austria— Schillings N.Z. to £1 T.T. 20.52 O.D. —— 20.54 Czechoslovakia95.42 Crowns to £1 N.Z. T.T. — O.D. — 95.47