Islands Produce

Coffee

THE following quotations were obtained in Sydney during January.

Robusta, f.a.q., imported from Java on firm conversion of exchange, c.i.f., prompt shipment, Sydney:—Quote No. 1: 27/- per cwt.; quote No. 2: 20/- per cwt.

Kenya, f.a.q., immediate shipment, c.i.f., Syd ney, per cwt.: —No. 1 quotations: Grade “A”, 53/-; grade “B”, 47/-; grade “C”, 44/-. No. 2 quotations: Grade “A”, 59/-: grade “B”, 49/-; grade “C”, 42/-; Triage, 36/6 (drought coffee).

No. 3 quotations: Grade “B”, 47/-; grade “C”, 38/-.

Mysore, f.a.q., prompt shipment, c.i.f., Sydney, per cwt.: No. 1 quotations: Grade “A”, 52/-. grade “B”, 50/-. No. 2 quotations; Grade “B”, 49/-; Triage, 40/-.

Arabian (Aden) Hodeidah, f.a.q., immediate shipment, c.i.f., Sydney—No. 1 quotation: 59/per cwt. No. 2 quotation: 57/- per cwt.

Note: Importers of coffee from Java, etc., pay the following additional charges: Exchange, duty (4d. lb.), primage (10 per cent), landing costs (1/- per ewt.). Coffee from Papua and New Guinea escapes most of these charges.

Kapok

Based on firm conversion of exchange, the c.i.f. official prices for kapok quoted in Sydney in mid-January, were;—Average Java 7Jd. per lb., and Japara, 7 7-16 d. per lb.

Cocoa

Quote No. 1: Cocoa beans, £36-£3B per ton.

Quote No. 2: New Guinea cocoa, £36 per ton.

Quote No. 3; Accra, good fermented, £2B per ton, c.i.f., Sydney.

Cotton

During the month, London, c.i.f., cotton prices were;—December 17, 4.68 d. lb., Jan. shipment; December 24. 4.73 d. lb., Jan. shipment; Decem ber 31, 4.70 d. lb., Peb. shipment; January 7, 4.81 d. lb., Feb. shipment; January 14, 4.87 d. lb., Feb. shipment: January 21, 4.79 d., Peb. shipment.

Ivory Nuts

No. 1 quotation: £lO per ton, f.0.b., Sydney.

No. 2 quotation: £lO per ton, f.0.b., Sydney.

Green Snail Shell

Green snail shell, good quality, was quoted by Sydney buyers in mid-January, at £55 per ton.

Rice

Rangoon rice, pecked in 1001 b. or 2001 b. bags, £lB/10/- per ton f.o.b. Sydney.

Australian table rice, packed in 561 b. bags, £lB per ton.

Trochus Shell

Quotations for trochus shell obtained in Sydney from two different sources were: (a) Trochus shell. No. 1 grade £9O Trochus shell, No. 2 grade £BO Trochus shell. No. 3 grade £7O (b) Trochus shell. No. 1 grade ..._ £9os Trochus shell, No. 2 grade £79s Trochus shell, No. 3 grade £7os ? AH quotes are f.0.b., and on the Australian £.

Mother of Pearl Shell.

At the last London sales (November) of M.O.P. shell, a good supply of Torres Strait shell came forward and was sold at prices ranging from £2OO (Australian) for A. A.

Chicken to £145 (Aust.) for defective pickings, fair to good. Little dealing was done in Black Edged shell (Tahitian), and none at all in New Guinea shell. Darwin shell fetched £2lO (Aust.) for Ist. grade to £lOO (Aust.) for fair defective pickings.

Direct Telegraphic Transfer

Selling Rates

Quoted by

Bank Of New South Wales

In Australia

New Guinea And Papua

Through Commonwealth Bank

From Australia, Pt. Moresby £1 per cent. ; on Rabaul 10/- per cent.—Other New Guinea districts £1 per cent.

From Rabaul on London, same as Australia on London:— Buying: T.T. £AI2S equals £stg. 100.

Selling: T.T. £AI26/10/- equals £stg. 100.

Through Bank Of N.S.W.

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

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

New Caledonia—Through

French Bank

Drafts, Sydney-Noumea and Noumea-Sydney, are on the basis of current rate of exchange on Paris, less 1J per cent, (approx.) either way.

As quoted by the Comptoir National d’Escompte de Paris, in Sydney, and the Banque de ITndo chine, Noumea: On January 20, when the Aus

tralian £ was nominally worth 120.25 francs, £lOO Australian would purchase a draft in Noumea of 11,860 francs.

Western Samoa—Through

Bank Of N.Z.

Exchange, Australia on Western Samoa, basis £lOO Samoa—buying £AIOO, selling 4AIOO/10/-.

Exchange, Samoa on London, basis £lOO in London m

Buying.

Selling.

Telegraphic transfer — £110 IS 0 £112 0 0 On demand £110 12 « £111 17 6

Average for Australia on week ended Papeete 27/12/37 Francs to £ Australian 115.28 Average for week ended 3/ 1/38 ... 115.35 Average for week ended 10/ 1/38 ... 115.42 Average for week ended 17/ 1/38 116.71 Average for week ended 24/ 1/38 ... 117.14 Australia on Noumea Francs to f Australian Average for week ended 27/12/37 ... 115.23 Average for week ended 3/ 1/38 115.30 Average for week ended 10/ 1/38 ... 115.37 Average for week ended 17/ 1/38 ... 116.66 Average for week ended 24/ 1/38 117,08

London Buying. Selling.

Telegraphic transfer £125 0 0 On Demand £128 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