SOUTHERN EXCHANGES

Auckland Star, Volume LXIX, Issue 125, 30 May 1938, Page 4

SOUTHERN EXCHANGES

TO-DAY IN CHRISTCHURCH. FEW CHANGES IN VALUE. MARKET OPENS QUIETLY. (By Telegraph.—Own Correspondent.) CHRISTCHURCH, this day. A quiet opening on the Stock Exchange to-day brought few changes in value. ' Among the banks E., S. ami A.V confirmed recent cr.sing with business at £i 17/0, closing ■with a market from £4 I*s. to £i 17/6. Commercials of Sydney were close ■ to business, with buyers at JCI9 17.6 and sellers 7,0 hsvhj". Unions improved, compared with la.<t week's sales, the market standing at £8 1/6 to £S 12/6. JirewericH were, not well supported. sellers of Xew Zealand* at £2 3/ getting no inquiry from buyers. Dominion industrials nuide a fair showing. Builders' Sup- ' plies quotations were 4/6 and 5/6, while Dominion Fertilisers were wanted at i-'l ' 5/6. Australians had a little business, Urokori Hill Proprietary selling 3d up, at £2 10/6, ■ the contributing!* being quoted from £1 1 14/6 to £1 17/. Zincs remained at recent easy levels. Wool worths (Sydney) had the only sales among the. chain .stores, and after opening with a drop to £1 0/9, recovered Id. Metals were very quiet. Morgans had inquiry at 8, 6M:, while Argos, following a very good return, were wanted at 1/9, sellers 2/1. SALES RECORDED. (By Telegraph.—Press Association.) WELLINGTON. This Day.—Morning Call : Xcw Zoalnnd Breweries. 1C 2 1!/U ; Austrulian (ilass, £ 4 VJ,/ ; Woolworths, Ltd. (ord.), i; 1 u/11. CHRISTCHURCH. This Day.—K., S. mid A. Bank. £4 17/G ; British Tobacco, £ 2 7/0; Broken Hill I'roprictiiry, 10/0; Klect mlytlc Zinc (pref.;, £l! 1/; Tarannki Oilfields. 8/r>: •Woolworths (Sydney, ord.), a 1 0,0 (2 parcels), £1 0/10. DUXEDIN. This Day.—National Insurance, 17/8; Woolworths I'roperties (rights;, 3/11. COMMODITIES WEAK. DECLINES IN LONDON. COAL, COTTON, METALS DOWN. (Received 0.30 a.m.) LONDON", May 29. Commodity markets had their worst week for a long time. Cotton lost 50 points, New York wheat broke through the 6/ level, metals were friendless and rubber was idle. . Sugar and wool alone among the major commodities remained steady. The "Economist" states the demand for coal k also on the down grade. Cotton relapsed and there is a serious depression. The volume of sales of consumers' goods, including motor cars, is declining even on the domestic market, because purchaeing power hae not kept pace with the rise in prices. Serious problems confront the International Rubber Committee, which meets in London to Tuesday to decide the quota for the third quarter of the current year, and the tin committee, which meets on Thursday.