ISLANDS PRODOCE Exchange Rates

THE following quotations were obtained in Sydney in mid-January:—

Coffee

Robusta, f.a.q., imported from Java on firm conversion of exchange, c.i.f., prompt shipment, Sydney: Quote No. 1: 19/-t per cwt. Quote No. 2 (based on 12 guilders to £): 21/6* per cwt.

Kenya, f.a.q., Immediate shipment, c.i.f., Syd ney, per cwt. Quote No. 1: Grade “A” (no supplies available): grade “B”, 65/-*; graoe “C”, 58/-*; Triage, 53/-*. Quote No. 2: Grade “B”, 62/-t: grade “C”, 56/-t.

Mysore, f.a.q., c.i.f., Sydney, per cwt.. No. 1 quotations: Grade “A”, 69/-t: grade “B”, 66/-f; Triage, 62/-. No. 2 quotations: Jan.-Mar. ship ment, Grade “A”, 73/-*; grade “B”, 66/-* grade “C”, 62/6*; Triage, 60/-*.

Arabian (Aden) Hodeidah, f.a.q., c.i.f., Sydney —No. 1 quotation, 79/-* stg. per cwt. No. 2 quotation, 80/- per cwt.t (Purely nominal, as sterling rates of ex change have been fluctuating widely. •Extra freight and war risk for buyer’s ac count.

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

Kapok

Based on firm conversion of exchange, the c.i.f. prices for kapok in mid-January were:— Average Java. 5-3/16d. per lb., and Prime Japara, 5-15/32d. per lb.

Ivory Nuts

No. 1 quotation: £7 per ton, f.o.b.

No. 2 quotation: £7 per ton, f.0.b., Sydney.

Quotations nominal.

Cocoa

New Guinea Cocoa: Quote No. 1: £36-£3B per ton. Quote No. 2: £39 per ton.

Rice

Rangoon rice, packed in 100 lb. bags, £l6 per ton; 200 lb. sacks, £l5/15/- per ton.

Australian table rice, packed in 56 lb. bags, £2O per ton.

Trochus Shell

Owing to' Japan’s restrictions on overseas credits, there have been no sales for some time.

The following are nominal quotations from three Sydney sources:—

All quotes are f.0.b., and on the Australian £.

Mother of Pearl Shell

At the last Mother of Pearl Shell sales in London, before war broke out, prices ruling were: Torres Strait shell, from 110/- per cwt. B Stout medium to 15/- per cwt. for EE rejections; Black Edged Tahiti, no demand; Black Edged Fiji, 20/- for small to bold and 5/- for defective and broken.

Green Snail Shell

Green snail shell, quoted nominally by Sydney buyers;—Quote No. 1: £4O; No. 2: £5O.

The following exchange quotations, gathered in Sydney, show the rates existing in mid-January:—

Fiji—Through Bank Of N.S.W.

And Bank Of New Zealand

Australia on Fiji on basis of £lOO Fiji: Buying £ Alll/2/6, selling £AII3.

Pljl-London on basis £lOO London;—

New Caledonia—Through

French Bank

Drafts, Sydney-Noumea and Noumea-Sydney, are on basis of current rate of exchange on Paris, less 3 A per cent, (approx.) either way.

As quoted by the Comptoir National d’Escompte de Paris, in Sydney, and the Banque de ITndo- China, Noumea. On January 12, when the Australian £ was nominally worth 139.75 francs, £lOO Australian would purchase a draft in Noumea of 13,800. (Subject to Exchange Control Regulations.)

Direct Telegraphic Transfer

Selling Rates

Quoted by

Bank Op New South Wales

in Australia.

Australia on Papeete

The above are nominal only—no business has been transacted on that basis.

Western Samoa—Through

Bank Of N.Z.

Exchange, Australia on Western Samoa, basis £lOO Samoa—buying, £A99/12/6; selling,

£ Aloo/2/6.

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

New Guinea And Papua

Through Bank Of N.S.W.

Australia on Port Moresby and Samarai, Papua, 10/- per cent, premium each way, equi valent to commission of 10/- per cent.; Australia on Rabaul, 10/- per cent, premium. All other places 20/- per cent.

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

Through Commonwealth Bank

Prom Australia, Port Moresby and Samarai, 10 - per cent.; on Rabaul, 10/- per cent.—Other Papua and 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. £AI2S/10/- equals £stg. 100.

Buying. Selling. • £. s. d. £. s. d.

Telegraphic transfer ... 110 15 0 112 0 0 On demand 110 12 6 111 17 6

Average lor week ended 18/12/39 .

Francs to £ Australian.

Average for week ended 25/12/39 . 137.59’

Average for week ended 1/1/40 . . .. .. 137.59 Average for week ended 8/1/40 . . .. .. 137.59 Average for week ended 15/1/40 . . .. .. 137.99

Australia on Noumea Average for week ended 18/12/39 ..

Francs to £ Australian. .. .. 137.04 Average for week ended 25/12/39 . . .. .. 137.04 Average lor week ended 1/1/40 . . .. .. 137.04 Average for week ended 8/1/40 . .

Average for week ended 15/1/40 . . .. .. 137.44

Buying. Selling.

Telegraphic transfer £125 10 0 On Demand £122 18 9 125 7 6 30 days 122 8 9 125 2 0 60 days 121 18 9 124 17 6 90 days 121 8 9 124 12 6 120 days 120 18 9 —

£ £ £ NO. 1 grade .. .. 75 77 80 No. 2 grade .. .. 65 66 Vb 70 No. 3 grade .. .. 52 52 56

Mr. Louis Ernest Grasset was found dead in his lodgings in Palmer Street, Sydney, in December. Mr. Grasset was once well known in New Caledonia and the New Hebrides as the “Calico Man’’.

In New Caledonia, he became a hunter and trapper of wild cattle.