TRUST BUILDING SOLD

Southland Times, Issue 22994, 14 September 1936, Page 3

TRUST BUILDING SOLD

MENTION IN McARTHUR INQUIRY The Trust Building, at the corner of King and Castlereagh streets, Sydney, has been bought by the Bank of New South Wales. The building figured prominently in the inquiries into the companies organized by J. W. S. McArthur. The sale was approved by the Equity Court recently, when it was announced that the building had been bought by Mr N. L. Cowper, acting for an undisclosed principal. The price is £273,000. The building has had a chequered career. It cost about £150,000 to erect when building costs were relatively low, and in 1927, when still known as The Daily Telegraph building, it was sold for £305,000 to a Sydney syndicate. A liquor licence was obtained, and the building became the Savoy Hotel, with a picturesque basement bar done in Spanish style. Subsequently the Savoy Hotel Company got into difficulties, and the property was offered at auction in 1931 by direction of the mortgagees. The best bid was £125,000, and it was passed in. In October 1932 it was sold at auction for £lOO,OOO, and extensive alterations, said to have cost more than £lOO,OOO, were effected. Later on, the Public Trustee was authorized by the Court to sell the property, and it was offered at auction last October, but no bid was then received. FOREIGN EXCHANGES (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, September 11. The .following mean closing rates of foreign exchanges were quoted to-day com-

NEW ZEALAND CURRENCY BASIS Che Bank ot New South Wales, Dunedin, announces the following rates of foreipi exchange on a New Zealand currency basis: on Buying Selling

MINING RETURNS Greymouth, September 3. The Mossy Creek dredge return is 520 z 12dwt for 9855yds and 136 hour's’ working. The Nemona dredge return is 38oz 16dwt for 14,900yds and 122 hours’ working. GILLESPIE’S BEACH. (United Press Association.) Dunedin, September 12. The Gillespie’s Beach return was 101 oz 12dwt for 130 hours’ dredging on the beach end of the cut. ARGO AND MAORI GULLY. (United Press Association.) Greymouth, September 12. The Argo dredge return is 98oz for 130 hours and 13,500 yards. The Maori Gully return is 220 z 9dwt for 197 hours. Woods' Great Peppermint Cure First aid for Coughs, Colds. Influenza.

pared with car: — Par. To-day. Paris, fr. to £ 12-1.21 76 55-64 New York, dol to £1 4.886 5.05 15-16 Montreal, dol. to £ 4.886 5.05Is Brussels, belgas to £ 35 29.95’2 Geneva, fr. to £ 25.221 15.52% Milan, lira to £ 20.43 64 5-16 Berlin, rmk. to £ 24.42 12.58 Stockholm, kr. to £ 18.159 19.39",b Copenhagen, kr. to £ 18.159 L’ 2 Oslo. fr. to £ 19.159 19.90 Vienna, schgs. to £ 34.585 26% Prague, kr. to £ 164.25 122 5-16 Helsingfors, m. to £ 103.23 227 Madrid, pesetas to £ 22.15 58 Lisbon, escudos to £ 110 110 3-16 Athens, dr. to £ 875 531 Bucharest, lei to £ 318.6 677 Belgrade, dinars 275.31 221 Rio de Janeiro, p to milreis 8.892 4",4 Buenos Aires, p. to dol. 45.577 36 Montevideo, p. to dol. 57 39 9-16 Bombay, p. to rupee 10 18",b Shanghai, p. to dol. - — 14 13-32 Yokohama, p. to yen 24.57 14 3-64

London— T.T. O.D 124 124/10/124/8/0 £NZ. to filOCstg Australia— £A to £100 N.Z. T.T. 101 100/10/FIJI— O.D. 101 100/10/£F to filOON.Z. T.T. 90/7/6 86 New York— OB 90/7/6 88 Dollars to £1 N.Z. T.T. 4.09’A 4.05% Montreal— O.D. 4.10',2 4.06 Dollars to £1 N.Z. T.T. 4.04% 4.05% Austria— Schillings to £1 O.D. 4.10% 4.06% N.Z. T.T. —— 21.13 Belgium— O.D. — 21.15 Belgas to £1 N.Z. T.T. —— 23.929 Czechoslovakia — O.D. — 23.910 Crowns to £1 N.Z. T.T. — 97.31 Denmark— O.D. — 97.36 Kroner to £1 N.Z. T.T. 18.203 17.893 France— O.D 18263 17.903 Francs to £1 N.Z. T.T. — 61.47 Germany— Reichmarks to £1 O.D. 61.51 N.Z. T.T. —- 10.039 Holland— O.D. — 10.044 Florins to £1 N.Z. T.T. — 5.940 Italy— O.D. — 5.944 Lire to £1 N.Z. T.T. — 51.40 JavaO.D. — 51.45 Florins to £1 N.Z. T.T. —— 5.906 Norway— O.D. — 5.910 Kroner to £1 N.Z. T.T. 16.181 15.891 Sweden— O.D. 16.241 15.901 Kroner to £1 N.Z. T.T. 15.785 15.490 Switzerland— O.D. 15.845 15.500 Francs to £1 N.Z. T.T. 12.651 12.381 Noumea— O.D. 12.756 12.386 Francs to £1 N.Z. T.T. — 60.10 Papeete— O.D. — 60.16 Francs to £1 N.Z. T.T. — 60.25 Hong Kong— N.Z. pence to 1 O.D. — 60.31 dollar T.T. 17 29-32 18 29-32 India and Ceylon— N.Z. pence to 1 O.O. 17 13-16 18% rupee T.T. 22 9-64 22 57-64 Japan— N.Z. pence to 1 O.D. 22 3-64 22 7-8 yen T.T. 17 41-64 Shanghai— N.Z. pence to 1 O.D. — 17 5-8 dollar T.T. 17 21-64 18 21-64 Singapore— N.Z. pence to 1 O.D. 17 9-64 18 5-16 dollar T.T. 34 27-64 36 31-64 O.D. 34 15 64 35 15-32