A FIRMING TONE.

Star (Christchurch), Volume LXVI, Issue 20485, 11 December 1934, Page 9

A FIRMING TONE.

l . . 1 Industrials Well Held In i Dunedin. ( (Special to the “Star.'_') DUNEDIN, This Day. } ,A month or two ago investors in ~\e\\'. Zealand were keen to acquire lholdmgs in banks and Government “securities. Today, in Dunedin at any Irate. those investments are not so much In.demand and the swing of the pendulum is towards industrial concerns. At this time of the year. when business‘of that sort ordinarily becomes relatively inactive, firmly established compames' bonds are held very tightly. sellers refusing to part with them unless at prices that leave a. profit. It 15 a. healthy tone on which to shut down temporarily, and gives an mdlcation that people have faith In their own industries. % i . \ EXCHANGE RATES. ‘ I —~_ \ l . I N.Z. Currency Bans. I The Bank of New South Wales, Christchurch, quotes the following rates , for sales and purchases for foreign . exchange:—- ' Buying. Selling. ‘ ' France (francs to T.T. 61.08 58.78 1 L £1 N.Z.) O.D. 61.38 59.33 "~ ‘ , Noumea (francs T.T. 62.03 59.03 i to £1 N.Z.) O.D. 62.43 59108 l Papeete (francs T.T. 62.03 59.08 1 to £1 N.Z.) O.D. 62.43 59.08 , Belgium (belgas T.T. 17.509 16.809 > to £1 N.Z.) O.D. 17.609 16.824 ' Germany (reich— T.T. —— 9.699 " marks to £1 NZ.) O.D. ——- 9.704 , Italy (lire to £1 T.T. —— 46.00‘ ' N.Z.) O.D. —— 46.04 Switzerland‘ “”03 T.T. 12.520 12.120 > to £1 N.Z.) O.D. 12.595 12.130 ‘ Holland (florins T.T. 6.018 5.768 , to £1 N.Z.) O.D. 6.06 R 5.772 . Java (fiorlns to T.T. 5.979 5.754 (£1 37.2.) O.D. 6.029 5.758 Japan (NZ. d. to T.T. . 1 yen) O.D. Shanghai (N.Z. d 1 T.T. 20 3—32 21 13—32 ‘ to 1 (101.) O.D. 19 31-32 21 11~32 F India and Ceylon T.T. 22 {l—32 225 (N.Z. d. to 1 Tu.) O.D. 22 5—32 22 9—16 ‘ Hong Kong (NZ. T.T. 24 31—32 26 1—32 d. to 1 dol.) O.D. 24 27—32 25 31—32 Singapore (N.Z. T.T. 34 7—16 2155 . d. to l dol.) O.D. 34 5—16 35 5—16 T.T. represents telegraphlr transfers. O.D. represents on demand transactions. Dollar and Franc. (Received Recember 11, 10.30 a.m.l LONDON. December 10. The American dollar opened at 4.953 to £1 sterling, and the franc at 751. Local Dollar Values. Current dollar exchanges as quoted by the New Zealand banks are as under:— Buying. Selling. United States ..... 5.04 4.84 Canada ........ 4.95 4.75 £1 (New Zealand) 13 Worth: 11 a. d. In Yokohama (13.4 yen) 1 7 4 In Sydney 1 O 0 ,In New York (3.95 dollars) .. 0 16 2 In hfontreal (3.87 dollars) 0 15 5 In London 0 16 0 In Berlin (9.85 marks) 0 9 ‘7 In Paris (60.25 francs) 0 9 8 In Brussels (16.93 belgas) .. 0 9 8 PRICE OF GOLD. (Received December 411. 10.30 am.) LONDON. DEL-ember 10. Gold is valued at 1.40/41 a fine ounce. other gold quotations thls year have been:— Per 02. s. d. December 1 139 6 November 1 139 10 October 11 (record) .. 143 3 October 1 141 6 September 1 141 5 August 1 ........ 138 1 July 2 ................ 137 7% ‘ June 1................ 137 11 “___—___. l