Cooks-Niue-Tokelaus

Exchange Rates

FlJl—Through BANK OF NSW, ANZ BANK and BANK OF NZ. Australia on Fiji, basis £lOO Fiji: Buying, £Alll/2/6; Selling. £ All 3. Fiji-London, basis £lOO London: B. £llO/15/-; S. £ll2. NZ-Fiji, basis £lOO NZ: B. £lll/11/9; S. £llO/4/3.

SAMOA.—Through BANK OF NZ. Aus tralia on Samoa, basis £lOO Samoa: B. £ A123/12/6; S. £124/10/9. Samoa-

London, basis £lOO London: B. £99/7/6; S. £lOl/10/-. Samoa-NZ, basis £lOO NZ: B. £100; 8. £lOO/10/-. Samoa-Fljl, basis £lOO Samoa; B. £111; s. £llO.

NORFOLK IS.—Commonwealth Bank quotes exchange rate Australia - Norfolk Island: 5/- per £AIOO.

Papua - Ng.—Commonwealth Bank

(Pt. Moresby, Lae, Rabaul, Goroka, Bulolo, Kavieng, Madang. Wewak), BANK OF NSW (branches: Port Moresby, Lae, Bulolo, Rabaul, Madang, Samara!, Goroka; agencies: Wau, Boroko, Kokopo), ANZ BANK (Port Moresby, Lae, Rabaul) and

National Bank Of A/Asia. (Port

Moresby) quote exchange rate Australia- Papua-NG: 10/- per £AIOO.

FR. PACIFIC COLONIES —Pacific francs, most valuable of the three franc groups in French Union, are used in New Cale donia. New Hebrides, and Fr. Polynesia.

FRENCH BANK (Comptoir National D’Escompte de Paris) in Sydney Jan. 1959, quotes: Selling, Noumea, 195 Pac. francs to £ Aust.; Papeete, 194 Pac. francs to £ Aust.; 246 Pac. francs to £ Stg.; 89.05 Pac. francs to US $. Selling 13.76 heavy "rancs (1,376 ordinary Metrop. franc,•*> o £ Stg.

Cooks-Niue-Tokelaus

Copra Sales

All Cook Islands, Niue, and Tokelau Islands copra is at present purchased by Abels, Ltd., of Auckland, who own the only copra crushing mill in New Zealand.

The exporters are not bound to sell to this firm, but in actual practice these terri tories do not produce sufficient copra to warrant a call by vessels loading for any but the New Zealand market. Further the price paid by Abels. Ltd., is fully in line with the Unilever Contract price as received in a number of other Territories, including Western Samoa.

The Cooks-Niue-Tokelau price is adjusted every six months and is set at the average Unilever price of the preceding six months.

The price for the second half of 1958 was £ NZSO/15/- basic, plus £l/5/- per ton for first grade kiln dried, plus £1 per ton allowance on cost of sacks—there is no bulk shipment. Thus the top price was

£ Nzs3.

The price for the first half of 1959 was to be approximately £NZ69, f.o.b.

Rarotonga-Niue-Tokelaus.