Nationalising
p. 109 · Read in the full issue
Exchange Rates
BaJk oT S r 7 OU9 n h ° f . NSW ' ANZ B^k, eftv Rank NZ c't B r nk r-° f Ba r r ° da i National SPonal k ' . S .- erlm £ £ °" Fi i *• buying £1 = SF2 085; selling £1 = $2.11. Aust. $ on Fiji $, buying $A1.0117 = SFI, selling $A1.0288 WESTERN SAMOA.—Through Bank of Western SWS° a fa| C a° n i rolled fr ° m NZ ' SC,,er SAI - 2470 t 0
Norfolk Is., Papua New Gulnea.—Aus
tralian currency used; no exchange payable in transactions with Australia PSaF 5 aFK M COLON'ES.-Pacific francs rininti “*u d a" Ne V Caledonia, New Hebrides Futuni WItH Aus f ralian , dollars), Wallis and Svdnev on F n h d & Polyn s sia - Bank, bydney, on Feb. 23, quoted: Selling Noumea r 24 to the sAust. ; p rroi dO - : , Buymg ' 132275 francs to the 13 99 TrYnr 9 T exp + u rt a r. nd J mport transactions). 13 22 francs to the £ (financial—nearly all o. the f transactions). Also £ equals 240 1363 (buymg) 2403181 (seHing) Pac. francs; 5.50 £ d 1 rnetropolitan franc.
Banks should be approached for daily quotes.
COOK IS.:—Copra goes to Abels, Ltd., ot Auckland, wno operates NZ s copra crusmng mill. Prices for Jan. 1 to Mar. 31, packed shipping weights f.0.b., were fixed at $NZ123.55 Ist grade, hot air dried, $NZ121.48. Ist grade sun dried, and $NZ119.92 standard grade J* UST , TE R R ITORY: $122.50 (grade 1), $112.50 (grade 2), $102.30 (grade 3), delivered ?on ri / Ct c , entr OeS; 0 eS; *',lo (grade IJ, $lOO (grade 2), $9O (grade 3), picked up outer islands.
Other Produce
BECHE-DE-MER: Chang Sing Loong Co.
Suva, quote 45c (4 in. to 10 in.).
Honiara.—Live slugs, over six inches, black 10 £' . other colours—l2 for 10c. chillies.—Solomons, Honiara, Tabasco, grade one dried 22c per lb; long red, grade one dried, 12c per lb.
COCOA—isiands rates are based on Ghana prices. Ghana price on Feb. 22 (Jan./Mar shipment) was spot £5tg205.50 ton, ci f UK Continent.
Feb. 22, Quote No. 1: In store Rabaul export quality, $345 per ton, delivered ex wharf Sydney, $425. Quote No. 2: Best quality l x ,^ wh , arf s V dne Y $421 (Apr./May shipment), $429 (June/July shipment); in store NG ports, $341 (Apr./May shipment), $349 (June/July shipment).
W. Samoa.—No recent quotes.
Solomons.—4 cents a id delivered to a fermentary, 3 cents a ib at buying points COFFEE.—PNG: Feb. 22, good quality A grade, 36c per lb; B grade, 33 l 2 c ; C grade,' 31 c; Y grade, (ex-store Sydney).
W Samoa,—Recently, WSTEC ground and dried beans, 49 sene per Ib (wholesale).
CROCODILE SKlNS.—Honiara: $1.89 to $2 25 per sq. in.
Green Snail Shell.—S3So A Ton F.O.B.
(nominal).
PAPUAN GUM.—Graded gum $215 per ton, f.o.b.
PASSIONFRUIT—Cook Islands, islands Foods Ltd. pays growers NZ2.5c per Ib for good fruit PAPAW.—Cook Islands, Island Foods Ltd pays growers. NZ2c per Ib for good fruit.
PEANUTS. P-NG: Sydney agents reported recently f.0.b., Lae, Kernels—white Spanish 17.25 c ib PEARL SHELL.—Torres Strait Pearlshellers' Assn, has no recent quotes. Solomons.— Honiara, mother of pearl blacklip 14c-16c Ib, goldlip 18c Ib. Cook Islands.—Penrhyn, 20-25 c per Ib, del. Rarotonga 33-35 c per Ib. French Polynesia.—Tuamotu, Gambier shells, to $l,OOO oer ton, Papeete.
PYRETHRUM—NG growers 17c Ib, flowers RICE (Aust.):—PNG: Dried brown, 112 Ib bags, $123 a ton, 40 Ib bags, $133 a ton; vitamin enriched white, 56 Ib bags, $136.50 a ton; all f.o.w. Sydney/Melbourne. Pacific Is lands: Calrose med. grain, white, 56 Ib bags, SAI2B-SAI33 a long ton. Kulu long grain white, 56 Ib bags, SAI64-SAI67 a long ton. All prices f.o.w. Sydney/Melbourne.
RUBBER.—PNG prices is based on Singapore rates which on Feb. 4 were: No. 1 RSS (Malayan cents a kilo fob). Mar. 88.75-91.25; Apr. 90-92.75.
SANDALWOOD.—New Hebrides, landed on th; beach, Vila and Santo, no recent quotes.
SHARKS FINS.— Chang Sing Loong Co., Suva, offers 75c per Ib for Ist quality, 45c for mixed quality.
TROCHUS.—BSIP 4c (uncleaned), 5c (cleaned) per Ib.
TURTLE SHELL.—BSI: 20c to $1.20 per Ib, depending on size and quality.
VANILLA BEANS. Prices recently were: White and yellow label processed standaro packs, $7.50; green label $7.40, c.i.f., Sydney.
Tonga.—sl4.2o, f.0.b., Nukualofa; $T4.50, Mel bourne.
RUBBER.—London, No. 1 RSS spot (per kilo), Feb. 4, prompt shipment, 13.83 p (c. and
Uk, Us Quotes
COPRA.—LONDON, Feb. 21, Philippines, in bulk, SUSI3S (Mar. reseller) per long ton, c.i.f,. UK/North European ports; US Pacific coast, b SUSIII, s SUSIIU.
COCONUT OIL—LONCfON, Feb. 17, £stglos (Feb./Mar. reseller).
Papuan drill can
go ahead now
The hostile reception met with in Papua New Guinea by Australia’s de cision to ban further off-shore gas and oil exploration in the Gulf of Papua pending a report from the Barrier Reef Royal Commission on the effect of drilling, resulted in late February in the government having to ease restrictions.
The government has now agreed that an exploratory well can be drilled by Phillips in Deception Bay. How ever, drilling of a well at Pasca will have to wait until receipt of the com missioner’s report.
Mr. Andrew Peacock, new Austra lian Minister for External Territories, said the government’s decision would allow “the important work of oil and gas exploration to continue in Papua.”
Nationalising
PNG's archives!
PNG’s archives branch of the De partment of Social Development and Home Affairs will in future be known as the National Archives of Papua New Guinea. However, it will remain a branch of the department. At pre sent housed in the House of Assembly, it will soon be moved to permanent premises.