FINANCE AND COMMERCE

Taranaki Daily News, 13 December 1932, Page 12

FINANCE AND COMMERCE

RATES ON FOREIGN EXCHANGES. IMPROVEMENT IN STERLING. (British Official Wireless.) Rec. 5.5 p.m. ; Rugby, Dec. 10. The following rates on foreign exchanges are current, compared with those yesterday and par:— Dec. 10 Dec. 9 Par.

LONDON BUSINESS RESTRICTED. British Official Wireless. Rec. 5.5 p.m. Rugby, Dec. 10. Business was again on a limited scale in the London stock markets to-day. British funds are well maintained by the firmness of the sterling-dollar rate. War loan 3J' per cent, was unchanged at £9B 2s 6d. SHAREMARKET TRANSACTIONS. NEW ZEALAND EXCHANGES. The following sharemarket transactions yesterday were reported by the Press Association: — ■ Christchurch: 51 per cent Inscribed, 1933, £lOO 10s; Bank of New Zealand (ex div.), 425, 41s; Blackwater (cum div.), 21s 6d; Golden Point, 2Jd; Okarito, 8s Id, 8s 2d. ' Sales reported: Rank of New Zealand (ex div.), 41s lOd; New Zealand Farmers* Fertiliser, 14s; . Commercial Bank, (pref.), £7 Is. Auckland: Bonds, 1938, 41 per cent., £93 2s 6d; Auckland City, 1940, 5J per cent, £9B 10s; New Zealand Fanners’ Co-op. (Canterbury), 1940, 4j per cent, £46; National Bank of New Zealand, £3 7s 6d; Bank of New Zealand, £2 Is 3d; New Zealand Insurance, £2 Is; Auckland Gas, 21s 3d. , TREND OF WOOL MARKETS. FINE QUALITIES WANTED. By Telegraph—Pros* A«sn. —Copyright London, Dec. 11. Mr. W. P. Devereux, representative of the Australian Wool Growers’ Council, states that at the London sales buying was very active with general competition. Merino was largely taken by Continental operators, and- showed- a hardening tendency. Fine crossbreds , also sold well. Medium and coarse were in sympathy with the quotations received from Auckland, . Napier and South America, • and were about 5 per cent below opening rates. Withdrawals were negligible and the quantity carried over-is unlikely to be excessive . There was very little business in crossbred tops and yams, except fine qualities. Quotations showed a slight tendency in buyers’ favour. THE PRICE OF GOLD. - London, Dec. 10. Gold is quoted at £6 6s 8d an ounce, compared with £6 7s lid yesterday, and £6 6s 8d on’Thursday. KEEN COMPETITION FOR WOOL. IMPROVEMENT ON NAPIER. SALE. The first wool sale for the-current season at- Wellington was held on Saturday, the Loan and Mercantile reports. The total offering was approximately 29,536 bales, of which the firm’s- quota was 3134 bales. The full bench of buyers represented Bradford, the ’ Continent, Japan, Dominion mills, local fellmongers and scourers. Competition was very keen and more general than at the previous, two sales this season. Bradford and Continent were the principal operators, with Japan picking up suitable lots. Prices compared with those at Napier on December 6 for stylish super wools were slightly firmer. Ordinary topmaking sorts showed little or no change. The selection of this year’s clip was fairly good, but quite a lot of old wool was included in the catalogues. These for the most part were yellow and discoloured, resulting in low prices having to be accepted.

Montreal, .dol. : .. 3.78% 3.7'75, ’ 4.8166 New York, dol. .. 3.25% 3.23% 4.866 Paris,, ft. 83 5-16 82 13-16 124.21 Brussels, belga .. 23.47% ■ 23.845 ■ 35.00 Geneva, fr. ...... 16.92 16.805 25.22 Amsterdam, fl. .. 8.09% 895 12.10 Milan, lire 63% 63 3-1'6 92.46 Berlin, r.m 13.67% 13.60 20.48 Stockholm, kr. . 18.32% 18.295 18,150 Copenhagen, kr. .. 19 9-32 19.25 18.159 Oslo, kr. 19.40 ■ 19.35 ‘ 18.159 Vienna, sch 27 %* 27%» 34.585 Prague, kr 169% 109 164.25 Helsingfors, mark 228 228 1'29.23 Madrid, pea 39 15-16 39% 25.221 Lisbon, escu 107% 10'7 110 596 587% 375.00 Bucharest, lei ... 550 550 ■ 813.6 Rio de Janeiro, m. 5%* 5%* 5.899d Buenos Aires, dol. ♦ ♦ . 47.619d Montevideo, dol. .. 30* 30* 51d Bombay, rupee .. 18 3-16 18 3-16 18d Shanghai, tael .. 20 15-16 211-1’6 •— .. • Hongkong, dol. .. 16 1-16 16 — ■ Yokohama, yen .. 1'5 5-16 15% 24.58d Belgrade, din. .. ■— 242.50 276.31 * Nominal.