Exchange Rates

Islands Produce

Coffee

The following quotations were obtained on May 20:— Robusta, f.a.q., imported from Java on firm of exchange, c.i.f., prompt shipment, Sydney; Quote No. 1, 32/- per cwt.; quote No. 2, -38/- per cwt.

Kenya, f.a.q., immediate shipment, c.i.f., Sydney, per cwt. No. 1 quotation: Grade “A,” 56/-; grade “B,” 52/-; grade “C,” 46/-; Triage, 40/-.

No. 2 quotation: Grade “B,” 57/-; grade “C,” 50/-; Triage, 40/-.

Mysore, f.a.q., prompt shipment, c.i.f., Sydney, per cwt. Quote No. 1; Grade “A,” 64/-; grade

“B,” 64/-; grade “C,” 60/-; Triage, 56/-. Quote No. 2: Grade “B,” 63/-; Triage, 55/-.

Arabian (Aden) Hodeidah, f.a.q., immediate shipment, c.i.f., Sydney. Quote (a): No. 1, pure, 76/- per cwt. Quote (b): 72/- per cwt.

New Guinea.—Rugen, prime “A,” lb. (de livered in store); Grade “B,” 9d. lb.; Grade “C,”

Syid. lb.

Kapok

Based on an exchange conversion of 12 gulden to the Australian £, the Australian c.i.f. prices current during May were: Prime Samarang, 5 1-32 d. per lb.; prime Japara, 5 13-32 d. per lb.

Cocoa

Quote No. 1: Cocoa beans, £26-£30 per ton.

Quote No. 2; Accra, good fermented, 25/- per cwt., c.i.f., Sydney.

Ivory Nuts

No. 1 Quotation: £8/15/- per ton, f.o.b., Sydney.

No. 2 Quotation: £8/15/- per ton, f.o.b., Sydney.

Trocas Shell

Green Snail Shell

Good quality green snail shell was quoted in Sydney in mid-May at £28 to £30 per ton.

Cotton

London c.i.f. prices for cotton, as quoted in Sydney Morning Herald, during the past month were: April 19, 6.40 d., May shipment; April 26, 6.54 d., May shipment; May 3,6.49 d., June ship ment; May 10, 6.54 d., June shipment; May 17, 6.52 d., June shipment.

Rice

Rangoon rice, packed in 100lb. or 200lb. bags, £12/10/- per ton, f.o.b., Sydney.

Australian table rice, packed in 56lb. bags, £15/10/- per ton.

Exchange Rates

The following exchange quotations, gathered in Sydney, show the rates existing in Sydney on May 20:—

Fiji—Through Bank Of N.S.W.

And Bank Of New Zealand.

Australia on Fiji on basis of £100 Fiji: Buying £A111, selling £A113/10/-.

Fiji-London on basis £100 London: Buying. Selling.

Telegraphic transfer .. £F110 15 0 £F112 0 0 On demand £FIIO 12 6 £F111 17 6

Western Samoa—Through

Bank Of N.Z.

Exchange, Australia on Western Samoa, basis £100 Samoa—selling £A100, buying £A100/10/-.

Exchange, Samoa on London, basis £100 in London:—

Direct Telegraphic Transfer

Selling Rates.

Quoted by

Dank Of New South Wales

in Australia.

New Caledonia—Through

French Bank.

Drafts, Sydney-Noumea and Noumea-Sydney, are on the basis of current rate of exchange on Paris, less 1 per cent, either way. As quoted by the Comptoir National, in Sydney, and the Bank of Indo-Chine, Noumea: On May 20, when the Australian £ was nominally worth 58.65 francs, £100 Australian would purchase a credit in Noumea of 5,865 francs.

New Guinea And Papua

Through Commonwealth

Bank.

From Australia, Pt. Moresby, £1 per cent., on Rabaul 10/- per cent. —other N. Guinea districts £1 per cent.

From Rabaul on London, same as Australia on London : Buying; T.T. £A125 equals £stg. 100.

Selling: T.T. £A125/10/- equals £stg. 100.

Through Bank Of N.S.W.

Australia, on Papua, £1 per cent, premium each way, equivalent to commission of £1 per cent.; Australia, on Rabaul, 10/- per cent, premium.

Papua and New Guinea, on London: Same as Australia on London, and vice versa.

Pastor A. H. Piper, general secretary of the Seventh Day Adventist Mission organisation, left Sydney by the Malaita on April 18 to make a general survey of S.D.A. Mission work in the Solomons Group. During his journey through the Solomon Islands on the S.D.A. schooner Vinaritokae he will give particular attention to the location and layout of a site for the mission’s new hospital. After sailing through the Group he will cross to the Mandated Territory of New Guinea, joining a Southward-bound steamer from Rabaul to Sydney.

Rev. James Edwards, Melanesian mis sionary in the Solomon Islands, returned to Cape Mala by the April Malaita, after furlough in Australia since January.

Quotations for trocas shell obtained from two different sources were: in Sydney (a) Trocas shell, No. 1 grade .. .. .. £85 Trocas shell, No. 2 grade .. .. £73 Trocas shell, No. 3 grade .. .. .. £61 (b) Trocas shell, No. 1 grade .. .. .. £88 Trocas shell, No. 2 grade .. .. .. £76 Trocas shell, No. 3 grade .. .. .. £64 All quotes are f.o.b., and on the Australian £.

Telegraphic transfer..

Buying.

Selling. 125 0 0 On demand .. £123 0 0 124 17 6 30 days 122 15 0 124 15 0 60 days 122 10 0 124 12 6 90 days 122 5 0 124 10 0 120 days 122 0 0 124 7 6

Average for week ended 22/4/35 .. .. 57,73 Australia on Papeete.

Francs to £ Australian Average for week ended 29/4/35 .. 57.45 Average for week ended 6/5/35 .. 57.42 Average for week ended 13/5/35 .. 57.72 Average for week ended 20/5/35 .. 58.34 Average for week ended 22/4/35 .. 57.53 Australia on Noumea.

Francs to £ Australian Average for week ended 29/4/35 .. 57.25 Average for week ended 6/5/35 .. 57.22 Average for week ended 13/5/35 .. 57.52 Average for week ended 20/5/35 .. 58.14