FINANCE, COMMERCE AND MARKETS.

Auckland Star, Volume LXII, Issue 289, 7 December 1931, Page 4

FINANCE, COMMERCE AND MARKETS.

ON 'CHANGE. FLUCTUATIONS IN SHARES.; WEEK OPENS QUIETLY. Although several sales were recorded at the first call of tne week the market tone was far from iiveiy. The banking section was distinctly quiet. .New Zealands had their first sale since the interim dividend was paid, a buyer getting two parcels at £2 6/8, after which sellers asked £2 7.'. Queensland Insurances were again in demand, and buyers moved up to £1 15,'. New Zealand Breweries had buyers at £l7 6, and Tooth's were wanted at £1 0/G. ' Firmness in the metal markets was reflected in a demand for Electro. Zinc prefs. at 19/3, and for Mount Lyelis at £1 0/2. Waihis were asked for at 16/2, and a buyer bid 19/ for Kampong Lanjut tin mining scri P- ■,.,'■ i i In Government stocks. 4% s were wanted at £96 5/. and 5% (1937J at £9S 15/, but the only offering in this section was a parcel of 5% (1933), which was available at £99 5/. At the Noon Call. Better prices were offered for a few lines at the noon call. The buyers of Bank of New South Wales advanced the quotation 10/, but £26 10/ did not tempt sellers, who did not quote. Colonial Sugar shares firmed 5/. being wanted at £36 15/. New Zealand Breweries, ex div., could now be placed at £1 8/, but the seller wanted another shilling. Commercial Bank ordinary snares soli a.t 16/2, but the buying offer for National Bank of Australasias dropped to £4 18/6. Business was reported in South British Insurance at £2 13/9, at which price there was still a buyer. Goldsbrough. Mort. Ltd.. shares sold at £1 2/10, and business was done in Waihi shares at 16/3. SAXES COMPLETED. Last Sale. AT THE 10 A.M. CALL TO-DAY— Bank rvew Zealand ( 2) £2 6 8 .. £2 S 0 Wellington Gas.. 16 6.. Govt. Loan. 1935. 51 p.c, Ins 95 0 0 .. 8S 0 0 AT THE 12.15 P.m. CALL TO-DAY— Commercial Bank (0 16 2) .. 016 1 South British Ins. (2 13 ») ... -14 0 Goldsbrough, Mort (1 2 10) .. IS 0 WaiM 016 3 .. 016 2 SOUTHERN EXCHANGES. (By Telegraph.—Press Association.) CHRISTCHUBCH, tils day. Sales on 'Change.—Government 51 per cent Bonds (1936), £99 10/; Commercial Bank of Australia, 16/3; National Bank of Australasia (£5 paid). £5, £4 19/: Bank of New Zealand (ex div.), £2 6/6 (2 parcels) ; Tooth's Brewery, £ll/. £1 1/1: British Tobacco (cum div.), £1 6/3 {o parcels) ; Mount Lyell (cum div.), £1 0/10 ■ £ 1 0/11. Reported sales : Commercial Bank of Australia, 16/2; Bank of New Zealand (ex div.), £2 6/6. DTJNEDIN, this day. Late Sale Saturday.—G-oldsbrough, Mort, £1 2/6. OKARSTO RETURN. DUNEDIN, this day. The Okarito gold dredging return for the week ended Saturday was 118oz 17dwt for 126 hours of working. INTEREST RATES. Tie return to the investor on his outlay, based upon the latest dividends and in the case of loans and debentures upon redemption at maturity, works out as followß for the latest sales:— PER CENT PER ANNUM. £ b. a. Bank of New Zealand 6 2 10 Wellington Gas 6 0 9 Com. Bank of Australia .... 619 2 South British 4 19 2 Waihi -12 6 3 CALL AND DIVIDEND EIST. DIVIDENDS. Due. Bank of New Zealand —Interim, 1/4 per share Now New Zealand Breweries —Interim, 4 p.c Now Xattersfield, Ltd. —Final, 2 p.c... Dec 10 North Broken Hill — 1/ a share.- Dec. 14 National Tobacco Co.—Pref., S p.c; ord., 15 p.c Dec 17 Mount Lyell—6d per share Dec 21 Deronport Ferry Co.—lnterim, 3| p.c Dec 21 Broken TTTn South —1/ per share Dec 23 P. and O.—Final, 3£ p.c Dec British Tobacco —Quarterly, 15 p.c Dec SI National Bank of New Zealand —' Interim, 8 p.c p.a Jan. NEW YORK. EXCHANGE. VIOLENT BREAK GERMAN BONDS WEAK. (Received 10 a.m.) NEW YORK, December E. • The German, debt problem and the possibility of Germany's dropping the gold standard, though the latter move is regarded as likely to occur only as a last resort, were held responsible to-day for a violent break in stocks. There was a I down-turn in grains, softness in_ bank' shares, and a drop to new low in all German bonds. A long list of German issues sold 16 to' 25 per ; cent below par value. In addition, tJnited States Steel recorded new lows.' THE MONEY MARKET. FOREIGN EXCHANGES. (BritlEh Official Wireless.) (Received 11 a.m.l ETJGBT, December 5. Foreign exchanges on London to-day, compared with rates previously quoted : Dec 5. Dec. 3. Par. Montreal, dol. to £ 3.90 3.90 4.506 New York, doL to £ . 3.312 H.33J 4.566 Paris, fr. to £ . S4.C:ir. So.To 1L'4.21 Brussels, belga to £ 23.5" 24 33 Geneva, fr. to £ IT 1-16 17.123 2322 Amsterdam, ft. to £ S 5-16 S 9-32 12.107 Rome, lire to £ 63.75 03.75 92.46 Berlin, r.ni. to £ 14 5-16 14 .".-16 20.43 Siockholm, kr. to £ IS 1-16 35.125 15.139 Oslo, kr. to £ . IS 5-16 15.23 15.130 Copenhagen, kr. to £ 18025 15.125 18.159 Prague, kr. to £ 112 lIP, 24,02 Helsingfors, mk. to £ 194 102.5 192.23 Calcutta, pence to rupee .... IS 6-04 13.125 18 Shanghai, sterling to taels . 22.575 22 9-15 * Hongkong, sterling to dol. . 17 16 29-32 * Voknhams, sterling to yen . 53.fi25 55.5 24.5S All quotations are for canle transfers. •Determined on the price of silver. THE PRICE OF GOLD. LONDON, Dc-csrahar 5. Gold is quoted to-day at £6" 4/1 an ftjt, compared with £tJ 2/3 ysawday. Saw is quaud at to j.jm s p o j, ami Ifferf iVrwwd, compared with ID 5 * and 10 S4s| yesterday.

THE LATEST QUOTATIONS, BANKS — Buyers. Sellers. Australasia .. 9/5/0 Commercial 16/0 .. 16/5 Commercial ipref.) ... 6/0/0 .- English and Scottish 4/3/6 .. National of N.Z .. 4/12/6 National Aust. icont.t 4/18/6 .. 5/5/0 New South Wales 26/10/0 .. New Zealand 2/6/0 .. 2/6/S N.Z. D Mortgage \£l pd.) 1/3/9 .. Union of Australia .. .. S/1/0 rNSURANCE— New Zealand 2/0/3 .. 2/0/9 Queensland 1/13/0 .. 1/19/0 South British 2/13/9 .. 2/14/0 Standard 2/2/0 .. FINANCIAL— Dalgety and Co S/0/0 .. Dominion Divestment and Banking Assn. 17/0 .. 19/6 Farmers' Anc. (B preL) . 11/9 .. 14/0 Finance Corp. (pref.) .. 17/0 Goldsbrough. Mort ... 1/2/6 .. 1/3/3 N.Z. Jind River Plate 1/0/0 .. N.Z. Guarantee Corp. .. 6/6 Loan and Merc, (pref.) .. 32/0/0 COAL— Grey Valley .. IS/0 Pukemiro 1.10/0 .. Renown Renown ipref.) .. 2/10 Renown mew, pref.i.. .. 2,,'S Taupiri .. 19/0 Taupiri (pref.) 1/1/0 .. 1/3/0 GAS— Auckland 1/3/3 .. Auckland (cont.) 17/0 .. Wellington 1/6/0 ~ SHIPPING— Huddart, Parker (ord.) 1/S/0 .. Northern Steam (p.u.) .. 7/6 Northern Steam ('cont.) 2/0 .. Union Steam (pref.).. 19/9 .. TIMBER— Bartholomew V.. .. 15/0 Kauri Timber 9/6 .. 11/0 National 5/0 .. 9/0 WOOLLEN— Kaiapoi (ord.) «, 4/5 .. 7/6 Wellington (pref.) ... V 2/6 .. BREWERIES— N.Z. Breweries (es div.) ►.„ 1/8/0 .. 1/9/0 Tooth's 1/0/9 -. 1/1/6 MISCELLANEOUS— Adair Brothers Aust. Iron. Steel (pref.) 9/0 .. 11/6 British Tobacco 1/5/3 .. _— Colonial Sugar 36/15/0 .. 37/10/0 Consolidated Brick .. 2/0 .. 7/0 Electro. Zinc (pref.).. 19/S .. 1/0/9 Farmers' Trading ... .. 6/0 Farmers' Trad. (A pref.) .. 11/6 Farmers. Trad. (B pref.) ■. 13/0 Gear Meat. Ltd. 1/5/0 .. Hamilton Theatres .. .. 5/0 Kill and Plummer.... .. 16/0 Kempthorne, Prosser. .. 2/11/0 Lewis Eady, Ltd. ... .. 18/0 Milne, Choyce (deb.).. .. 18/9 Moturoa Oil N.Z. Farmers' Fertiliser 11/0 .. Robinson Ice Cream.. 16/6 .. IS/6 Sanford, Ltd .. 7/0 Sanford. Ltd. (pref.).. .. 19/0 Taranaki Oil Fields.. .. 1/0 Union Oil 1/0/6 .. 1/4/0 Wairakei. Ltd .. 6/0 Whittome. Stevenson.. 14/0 .. Wilsons Cement 1/14/6 .. 1/16/0 Woolworths (pref.) ... 1/4/6 .. 1/5/6 MINING— Blackwater 4,0 .. 5/0 Consolidated Goldfields 1/4 .. 2/0 Golden Dawn .. 7/6 Kawarau 0/3 .. 0/6 King Solomon ........ 1/5 _ 2/3 Komata Reels 1/0 .. Mahakipawa 0/4 .. 0/6 Cornish Point .. 0/5 Okarito 0/6 .. 10/3 Waihi 16/2 .. 16/3 Waihi Grand Junction 3/8 .. 3/11 Golden Terrace 5/0 .. 12/6 Mount Lyell 1/0/6 .. 1/0/11 Kampong Lanjut 19/0 .. l/l/O Kuala Kampar .. 6/6 DEBENTURES— Auck. Gas, 1932, 5 p.c 97/0/0 .. Auck. Gas, 1935, 6i p.c. 100/0/0 .. Auck. H. 8., 1959,51 p.c .. 9S/5/0 Auck. H. 8.. 1941. 6 p.c. 100/0/0 .. Auck. City, 1932, 6 p.c. .. 100/10/0 Auck. Citv, 1940. T4 p.c 93/0/0 .. Auck. City, 1960. 51 p.c. .. 99/0/0 Auck. P. 8., 1945, 5$ 99/0/0 .. New Plymouth 8.C., 1933, 5 p.c Waitemata County, 1947, 54 p.c. 94/0/0 ~ Wanganui 8.C., 1944, 5J .. 98/0/0 N.Z. Breweries 1/0/5 .. WAR BONDS— Loan, 1935, 44 p.c. ... 96/5/0 .„ Loan, 1933, 4* p.c ... OG/5,/0 .. Loan, 1937, 5k p.c. ... 9S/0/0 .. Loan, 1933, 5i p.c ... 97/10/0 .. 9S/0/0 Loan, 1936. 5} p.c. ... 98/10/0 .. Loan, 1937, 5i p.c. ... 9S/15/0 .. INSCRIBED LOANS— Loan. 1935, 41 p.c. ... 96/5/0 .. 97/5/0 Loan, 1939, 4; p.c. ... 96/5/0 .. Loan, 1937, 5£ p.c. ... 93/0/0 Loan, 1933. 5-J p.c. ... 97./10/0 .. Loan, 1933, 5i p.c ... 98/10/0 .. 99/5/0 Loan, ia36. 5$ p.c. ... 98/10/0 .. Loan, 1937, 5* p.c ... 9S/IS/0 ..

LONDON WOOL SALES. YORKSHIRE MORE ACTIVE. BETTER TONE AT BRADFORD. (Keceived 11 a.m.) LONDON, December 5. Mr. Devereux, representative of the Australian Wool Council, reports as follow: — At the London sales Yorkshire is operating more freely and competition is wider. Germany and Alsace are buying steadily. North France is also participating better. The lower tendency in Merinos noticeable earlier has now disappeared. Greasy sorts are hardening. Lower qualities, like 60's. also finer crossbreds sharpened in demand at 5 to 7V6 per cent decline. Heavy withdrawals of medium and low crossbreds followed the first adverse report on the New Zealand markets, but with improvement reports competition revived. Scoured Merinos, except the very best, axe easier. There is a better tone at Bradford. Machinery is well employed. The restrictive effect of British duties on manufactures adversely affected the Continental market. French demand is quiet, Belgian prices are unchanged. Germany's salesof tops for the week were 575,000 kilos, which J is half of normal. WELLINGTON WOOL SALE. The first Wellington wool sale of the season will open in the Town Hall at 9 o'clock to-moiTow morning, December 8. The limit set by the New Zealand Wool Committee for the sale was 30,000 bales, but the maximum quantity offering is expected to be slightly over 24,000 bales. NEW ZEALAND HONEY. (United P.A.—Electric Telegraph—Copyright) LONDON, December 4. Sales of New Zealand honey constitute a record. The European representative. after a tour, reports there is no hope of extending sales in Germany, owing to acute depression. Sales are increasing in Denmark and Holland. CUSTOMS EXCHANGE RATES. Rates of exchange ruling at the announce*-] date of departure of the vessels named are shown in the following table. They are subject to confirmation by the Customs Department when the exact time of departure Ja learned on the arrival of the. vessels in New Zealand: Canadian Challenger, Cnnarla, ilnliars 4.36 Canadian Challenger, ILS.A.. dollars S.S2 Waihemn, Canada, dollars 4 171 Waihenin, U.S.A., dollars a.76 Munowaj, U.S.A., dollars , 3,5s Ti.snaren, Canada, dollars 4^3 Ti&naren, U.S.A., dollars 3.41 Canadian Transporter, Canada, dol. 4.17 fin!dr.n Cross, Canada, dollars 4.375 Ck.ldon Cross, U.S.A., dollars 3 an l Ventura, U.S.A., dollars 3.5s