TRADE AND FINANCE DOMINION BUSINESS AUSTRALIAN SHARES DOLLAR AND STERLING DOLLAR RATES THE FRENCH FRANC. PRICE AND RETURN FOREIGN EXCHANGE RATES

Evening Post, Volume CXX, Issue 12, 13 July 1935, Page 12

TRADE AND FINANCE

DOMINION BUSINESS

AUSTRALIAN SHARES

DOLLAR AND STERLING

DOLLAR RATES

THE FRENCH FRANC.

PRICE AND RETURN

FOREIGN EXCHANGE RATES

AN ECONOMIC SURVEY

MARKED. IMPROVEMENT

A report on the trend of business ■in New Zealand (prepared for the Canterbury Chamber of Commerce by Ihe Department-.pi Economics, Canterbury College, dealing.with statistics as for the first quarter of 1935, indicates that "a marked improvement has occurred over the- last two years." This comment is appended to a table ol comparisons, all values being shown in New Zealand currency:—

THE! BUILDING TRADE. Land fr&iisfers and-.mortgages registered aitClC;ajscharged.; : show •increases over theStt&rcli quarter of 1934, but the increases-reached their -peaks in the December; quarter: •■•of 1934; and the figure's; hay since-declined. Building permits for March, 1934; were;substantially increasedI. by a- single item, the Wellingtori/Railway station, and;j ■they are still-very low, less than halt the average quarterly level of 19.i0-<zy. TJie rate of increase in internal, trade was speeded up in the second hall of 1934, but has.since slackened,: and at present there is some hesitancy It has been customary in.the past for. internal trade to expand and.contract with the total of export values, and the much lower wool prices received during.the 1934-35 season have undoubtedly influenced business confidence. Though wool prices are still substantially lower- than they were a year ago, their decline has been approximately offset by the increases in the prices of meat and dairy produce, and for March, 1935, the index number of export prices is approximately the same as it was a year earlier. PURCHASING POWER. It appears that although a fall in the total value of exports for the current season'is to be expected, that fall will be1 slight, and insufficient to impair the purchasing power of the community appreciably. The accumulation of funds available for spending and investments has eonfinued and has reached a record high level. Interest rates are low and " confidence has improved greatly during the1 past two years, but difficulties and uncertainties still remain. "Definite and substantial progress has been made since the lowest depths of the depression were passed," the review concludes, "but there is as yet little evidence of the increase in investment and enterprise required to" .«,.' utilise .resources fully and to promote complete in the Dominion.

MARKET ACTIVE

Closing sight rates as quoted by the Batik of New/South Wales, -Wellington, today for buying and;selling foreign currencies', based on New Zealand currency,,' are. as { follows:—.

The above rates are for on demand transactions, excepting the Japanese ;yen, which is for telegraphic transfers. The £1 is £1 in New Zealand currency. The rates are subject to alteration without notice. Based on the figures quoted by the Bank of New South Wales, the New Zealand pound, compared i with its original par value, is equivalent to approximately:—

PRODUCE & MARKET REPORTS FROM DAY TO DAY

|I By Tcle.^Viiijii-4'i'ryWiT' 'il.se-.ii.— C6|>yni;tH.i ! .- Uii%'',. :'':%,■: SYDNEY, July 12. : The .■riiarkets:::;on the. Sydney Stock "-Exchange today; were active and firm. i- ;Sales:'—-Biink ;of- New. South Wales, 1£32; Commercial Bairking-Co. of Syd!nuy, £''18'2s; National .Bank;-of■ Auslra--jlasia, £5 paid, £6 7s.od; '.Queensland 'National Bank, £s;' ■Colonial Sugar, £44 12s 6d; South British, Insurance, £5 os. 6d; Howard' Smith, 16s; Burns, PhilpV South Sea,-;27s- 6d; ■■: Australian GaSf.A;:£B 4s; britfsh'-Tobacco, 39s 3d; ! Tooth's -Brewery;:' 565;- Industries, 19s'v4.',d; ■Sa'fgeiits.:' 2is; ditto. New Zealand delivery,-2is; Australian Glass, 70s 3d; Dunlop-Perdriau, -prof., - 335; Goldsbrough. Mort. 29s 7Jd; .Greater J: D. Williams. 7s 4d; Henry. Jones Co-op.. 375; Electrolytic-Zinc, 27s 9d; Wunderhch 22s 9d Faimcrs 27s 6d Mount l^ell 13s 3d Biol en Hill Piopnttcuy o9s 9d, Broken Hill South 89s 6d Com monwealth Bonds, 4 per cent, 1938 £103 10s; 1941. £104 ss, 1944 £105 2s 6d 1947, £106; 1950, £107, 1953, £107 2s 6d; 1955, £105 6s 3d; 1957 £105 ss, 1959. £105 10s; 1961. £106 10s

MELBOURNE, July .12. Stock Exchange sales, today included —E S and A Bank. £5 3s 6d, Commercial Bank ot Australia pief £9 15s, Biiti<:h Tobacco 39s lid 'Heiaid and Times 57b 3d

(lijv Telegraph—Press •• Assn.—Copyright.)

'•-'■'.• (Received, July 13, 9 a.m.) ': x '.'.■; ■■■v:.:;. LONDON,. July 12. . .Sterling 'exchange, London oh ■■New York, 4.95 v5-i6i-dollars.- '

The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates today, on a New Zealand currency basis. They are subject to alteration without notice:— U.S.A. Canada. ; (per £1 (per £1 ' • N.Z.) N.Z.) Dols. Dols.

Selling—1 T.T. ..... 3:974 3.975 On demand ...... 3.97g 3.984 Buying— On demand 4.02.1 4.02g

(By TcJeju'.'iph—i Jvess Asisn.—Copyright.) (Received July 13, 9 a.m.)

■ LONDON, July 12. Sterling exchange on Paris 74 7-16 francs to £1. .

Latest sales 1 reported: and made, on the Stock Exchanges of the Dominion,with the highest prices and the approximate yields per cent per annum to investors (all subject to appropriate taxes and.exchange, where operative), based oti^ ...tire last annual dividends, plus bonuses',; if any, and considering redemption and brokerage in the case of redeemable securities where dated

Other bank- ■ ilc'bUs, ••' ■ v £N.z. in. ...v;;. ut is» isu .Voles In' circuiatluii, .'■ £X.Z. m. '..-;, ."u'.' 1:.; 1-.. u.Uli; 0.27 ij.23 ToLulI.iutor . invent-'< . '- ments, £X.Z. 'in.. .J.13 .-• l.:)2 1-' Imports 1000 tons ;., 3D5 . 3S4 4-!) Exports 1000 toils..; 3UT 2110 oOl Coastal slilppUiE,. ■-'... '■',.. ..„, 1000 tons ... •..-.;.:.';' 3^0 , Juj J91 . Railway ton miles,;.'. . :■. . ■, ■ millions ...,...^.. 81\: 91, ' J. 7 Eulldliig -perinlU, .■■'••■ • . "'",_■ £N.Z. m. . .i..v., .\.52:-K ■ 1.-8 %bj Land, transfers, .:£;.-. . ■;■'. •_ . N.Z. m. . -•■ '1-7.1: 2..ST ,;2.uS £X.Z. m. ...:.;..- .i.t.57.-. , |.0u. . -..4-1.1* . Mortguii'c's dlscliarged, ,■,•..:'-...' ■ '. '.■; : : : SSX. in 1.,,;, , 2.01' ,-.nii Sales lax yiclil. s'-iJ ~i., i,V ;•• „—.-., X Z in ......-:. ■•■'!' 1 ■■■".'J Khare price index ;<. : T:t . - . !)2 . ;'01 Tucmplujcd rei:(Jti!V-■■'■ ■ ■ . ■•d. bi'Slnnliis:'. 01' - ; . . .' ,.,„,, April :-'. : .'.; 51,521) ■•M.oS- >l-W" ■ The above table is described as showing "a continued expansion in the volUmo o£ trade arid transport, bin there are indications of a slackening rate of increase in the reduced, totals for note 'circulation,, totalisator investments, aftdV"building;'pei-mits."

"'. , ;"'.' ' . demand, demand, liuyint!. Selliug. Kcw' Zealand on - '£s. d. £ a. d. London—£N.2. to £ stg. . 100. ■.. 12tj 10 0 121 8 a .Australia—£ A-to'.£N.SS." . " J00;- 1«1 « U 100 10 0 ;i-ij]—sF.to £N.Z. 100 . ««■• T . «.-. .89 0 0 New ■ YorK—Dollars to £X.Z. 1. 4.02%. ' 3.97% ' Montreal—Dollars to £X/Z. l :. 4.0J o.9SVi Austria—Sdiillluga to a • . X.Z. 1. ■ — -UlJ Jjclsimu-BelUiis to £ S-.Z/-1/ —' 2'i:-JJ Oirbialirt-iikia — Crowua to.£K.Z. 1 — » jl() . Hcxinmrlv-Kroner to £■ •. 3'raiicB— t'rapes to.^'S X.Z. 1 (J1.12 Al..n OuiriiMiiy—JJelelimarks to . £K.Z. 1. ...... — H-OJ'J Jlnllund—i'lorins to £ X.Z. 1. ............ 0.02S •'...:« JtiUy—Lire to 'fi.X.Z. 1. '-• ' i'.So ■ Jiivn—-Florins to £ .' 1 y.z. i ■>■'•>'•' ■•■ar-i Xorwiiy—Kroner to £ ■"■■■■ • ■ ■ N;Z*J. : .. 1B.2I0 15.0."i0 Sweden—Kronor to £ X.Z: 1 1S.S00 15.020 Snltzcrland—Francs to £ N.Z.; 1 .,. 12.152 11.987 Konniea—Francs to £. X;Z,:-i: ....... 02.17 58.82 l'iitipeto—JTrancs to. £ X,Z ; 1 02.17 5S.S2 llonii. 'KoriB—N.Z. pence to 1 ■dollar 3120-32 ;iS l-o2 India-, & Ceylon—N.Z. Tictrce to I riijieo 22 7-32 22? 3 Jypati!—IS.K. peifce - to 1' yea'..;..;.;........ — 17 13-10 Shanilitit—JS-.Z.«, peace; to .:'■.:.■: 1-flqllar"-.A ;«>.-.>.■..-......: -22 31-3i; . 24.11-32 Singi'iu'oro—?<.Z.- pence to ' ■' ■ 1 dollar '...:........ 313-32 35 3-32

0 1G 1 in .London. JO] in Australia. .' ;: (I IB 3% in U.S.A. : n-16 AVa in Cunadii. (I » 7 in France. O ]0 4 ill Unly. •■ 0.0. 5V4 in (Jcnnuny. 0 3.5 in. . .Tuva. 17 7 in Japan.

Dollars. July U 4.96 5-16 July 10 '1.96 3-16: Julv 9 '.. 4.9615-16. July 8 ' '... 4.96 July 6 4.95 July 5 4.94 7-16 'July '4 .:..;.* 4.943, «; July 3 ' 4.9313-16! July 2 4.94 "| , July. 1 4.94 7,16; Juno 1 4.92. 1-8 May 1 : 4.83 3-3 April 30 4.83J April 1 479! -'March 1 4 83.13-16 February 1 4.37 1-16 January 1 4.94 3-1G

were as follows:— .... ■ . Highest tfteld , ,' , price. p.c., p.a. £ s. d. £ t. d. Wellington. Coinni. Bank of Aust. 0 16 9 3 0 7 E.S: and A. .Bank. .,. . 5 2, 6 2 18 0 Nut/Bank of N.Z. ... 3 10 3 2 10 11 Bank of N.Z; .:..:... 2 12 3' 3 10 G Union Bank (Mclb. Teg.) . , 9 ,0 0 2 15 0 Fanners' Auet. .(£5 pd.) ■ 4 '1 6 4 18. 2 N.Z. Loan and Her. 31 10 0 — N.Z. Kef rig ..... 0 19 10 5 10 11 Staples and Co .1 15 G 2.16 4 Anthoriy Hqrde'rn ..'.'". "?1 0 0 — Consold. Brick-v ;U10:;D — Dunlop-Perdriaii ,-Vpi, • 0 Vi-ri ■ 63 5 N.Z. Paper Mills .... -1 14 6 4 1 2 Consold."Goldfields:,,. ..0 15 3 — Mount Lycll p. 0 19 IVi' — Mount Morgan 1 16 9 5 8 10 Unofficial— Procer.ii Bread (10s pd,) 2 12.0 — Procera Bread (vender) :2 S 9 — Auckland. -.'•.■'■. Govt. Bonds, i p.c. (1940) .: '...a. 101 10 0 3 4 S Inser. Stock. 3Vz p.c. (103043) a. 105 15 0 2 19 0 Inser. Stock, 4 p.c. (1046) a. 10S 10 0 3 1 5 Auckland Harbour. 4% p.c. (19*1);:.v 104 0 0 -3 li 4 Amalg. Brick- (Auck.), Vk p.c. (1944) ..... .104 0 0 0 13 6 Bank of'N.Z. ....,.., 2 12 0. o IB '-' S. British Insurance .. 4 IS 3 2 14 3 Farmers' Auct. (£5 pd.) .......-. 4 5 0 4 14 1 Kami.Timber -... 1 0 0 3 15 0 Yavra Tolls 2 2 3 3 1.5 !) British Tobacco .. 1.18 8 -3 2 0 .Farmers' Trad. (B) r. 0 14 6 5 8 1 Hill and Pluinmer ... 0 17 C .ill" j Morris-Hedstroin ,1 1 0. 4 15 2 Js T.Z. Jfewspapera1 .... 1 IS 0" 2 11 11 N.Z. Paper Mills .... 1 14 G 4 1 2 N.Z. Eel'rig. (10s pd.). 0 9 7 5 14 9 Sanford, Ltd 0 3 2 — Union Oil 1 10 0 4 3 4 Woolworths, Sydney (2nd -pref.) 17 0 5 3 S Big P.iver 0 2 4 — Mataki 0 1 10 4 1.0 11 Unofficial— Auckland Farmers' Freezing 1 0 0 0 0 0 Golden Crown 0 7 (i — Christchurch. Booth Macdouald, OVi p.e. (1937) C2 1.3 0 — Bank of N.Z 2 12 G 3 16 2 Reserve Bank 6 9 3- 3 17 4 N.Z. Tvefriu; 0 19 9 all G N.Z. vKefrip. ..(coiit.) . I) 9 II 5 10 11 United Building 14 0 4 3 4 Staples and Co 1 15 !S -J Ki 0 Monteitli Brewery ... 0170 0171 Kaiiipoi Woollen (7s pd.) II 0 0 .". 10 0 Manrru-atu Knitting .. 117 0 0 8 1 Bont.li and Co "... 1 11 9 5 0 9 Ooldsbro.ufth -Mort ... 193 420 N.Z. Breweries 2 14 7 2 11 3 TLinaru Bi'owcry (con.) 0 9 0 4 3 4 Anthony Uordern .... 10 0' — Dunlop-Perdriair .... f) 16 3 li 3 11 Big River ' 0 2 3 — Lawson's Flat 0 0 4 — Mossy;Greek ...■.:.... 0 2 6 — Mount Lyell p. 0 19 3 — Skippers 0 0 2^ — Worksop Ext.'... 0 2 7 — Unofficial — New -RiVer (9d. pd.) .005 — Procera Bread (vender) 2 11 G — Argo Gold •:. 0 1 4% — • ■ Dunedin. Bank-of N'.Z.- '. >1 12 .2 ' 3 10 S Wellington Woollen ■'.-■ ford.'): ...;. G 10 0 3 10 11 N.Z. Kefi-ig.'Cltls p.d.) 0 9 II 5 10 II WeHport Coal ..... I 1 II 4 11 S Milbuni Lime -2 7 0 .". 14 5 X.Z. Piipcr .Mills .... 1 II 3-4 I 0 a.—Miiiliet price mcludes accrued interest, but not brokerage p.—Interim div. passed. )■.—■ Kcdueiblfi by 20 per cent. (min. 5 per -cent.) under 1S.Y..A. Act.