THE STOCK EXCHANGES

Press, Volume LXXIV, Issue 22306, 21 January 1938, Page 13

THE STOCK EXCHANGES

MARKETS REMAIN DULL

DEALINGS RESTRICTED

DEALINGS COMPLETED

LISTED STOCKS Sales on 'Change £ s. d. 25 Com. Bank of Aust. (pf., cum div.) . . 914 6 100 Westport - Stockton Coal (pf.) 0 5 9 100 Broken Hill Pty. (2) 3 3 0 200 Dunlop Rubber . . 13 6 13 7

100 Electro. 2*,inc (ord., cum div.) . . 2 8 6 2 8 5

50 Electro. Zinc (pf., cum. div.) . . 211 10 400 Woolworths (Sydney. ord.) (4) 15 8 200 Broken Hill South (2) 1 15 7 1 15 6 1 15 5 200 Mount Lyell (3) 112 3 250 Mount Morgan (3) 010 4 Sales Reported 200 Com. Bank of Aust. (2) 0 17 1 50 National Bank of N.Z. 2 13 0 150 Woolworths (N.Z.) 1 0 6 200 Woolworths, Ltd. .. 15 8 200 Mount Morgan .. 0 10 4A Banking Commercial Bank of Australia were firm, with buyers and dealings at 17s Id, sellers at 17s 3d —the preference advanced to £9 14s 6d, and more were wanted at £9 14s. National Bank of New Zealand had business at 535. and late offers of 52s fid faiJed to attract sellers. Sellers of Dalget.y and Company reduced their limits to £8 10s, buyers at £8 ss. Westport-Stockton Coal, preference, changed hands at 5s 9d, and there were further buyers at that price, sellers at 6s. Miscellaneous Australian Glass were firmer on buyers' offers, 93s 3d. Broken Hill Proprietary were a shade easier, with sellers and dealings at 635. buyers at 62s lid. Dunlop Rubbers advanced to 23s 6d and 23s 7d, and there were further buyers at 23s Bd. sellers at 23s 9d. Electrolytic Zinc, ordinary, dropped to 48s 6d and 48s sd—the preference were fractionally weaker at 51s lOd. market closing 51s 9d buyers, 52s sellers. Woolworths, Ltd., were fractionally firmer at 25s Bd, and more were offered at that price, buyers at 25s 7d. Woolworths (New Zealand) were weaker, with sellers and business at 20s 6d. Mining Broken Hill South dropped to 35s 7d, 35s 6d. and 35s sd, and there wef<> further sellers at 35s 2d. buyers at 355. Mount Lyells fell to 22s ?d, buyers staying in at that price, sellers at 32s 4d. Mount Morgans were fractionally firmer at 10s 4id and 10s 4d, market closing 10s 4d buyers, 10s 5d sellers.

Trading on the Christchurch Stock Exchange yesterday was again dull, with transactions limited to a few stocks.

Buyers. Sellers. £ s. d. £ s. d.

LONDON MARKETS MORE SETTLED \ ; LONDON, January 19. On the London Stock Exchange yesterday markets were more settled, following the easing of the crisis in France, but business was still small. Share quotations—Clutha River C°rnpany, buyers Is 101 d. sellers 2s Hd: Molyneaux River Company, buyers Is 4}d. sellers Is 7Jd; N.Z. Loan and Mercantile (ord.), £42 10s; N.Z. Loan and Mercantile (pref.), £BB.

STOCK MARKETS STUDHOLME More than 100 head of cattle were entered for the fortnightly Studholme sale, making it the biggest sale since well before the holiday period. A number of well-bred heifers and steers were forward from Southland, and competition was keen and prices good throughout. Part of a race of fat sheep were forward, including some good quality fat lambs. There was also a representative yarding of stores. Prices were as follows: — Cattle—Fat cows up to £9, 4 at £7, 10 at £9 2s, 17 at £7. Heifers—ls at £5 17s, 10 at £5. Sheep—Fat ewes to 20s Id, wethers to 26s Id, fat lambs to 27s Id, good rape lambs to 19s Id, two-tooth wethers to 19s Id. • There were practically no passings throughout the day.

ASSOCIATED BANKS' DOLLAR RATES The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates yesterday on a New Zealand currency basis. They are subject to alteration without notice:—

LATEST QUOTATIONS Buyer R. Seller s. £ s. d. £ s. d. N.Z. Govt. Debentures 3J p.c. Ins., 15/3/39-43 100 10 0 — 3J p.c. Ins., 1938-52 and 1039-52 101 5 0 — 3J p.c. Ins., 1953-57 96 10 0 98 2 C 4 p.c. Ins., 1943-46 and 1946-49 103 5 0 — 4 p.c. Ins.. 1952-55 103 0 0 — 4 p.c. Bonds, 1946 and 1949 103 10 0 — 4 p.c. Bonds. 1955 103 0 0 — Rural Bonds, 5 p.c. 15/9/47 102 10 0 — Other Debentures Gisborne Sheepfarmers, 61 p.c, 31/8/41 102 0 0 — Banks Adelaide (£5) 6 2 6 — Australasia (£5) — 10 17 C Comm. of Aust. (cum div., 10s) 0 17 1 0 17 3 Comm. of Aust. (pf.. cum div., £10) 9 14 0 9 16 0 Comm. of Sydney (£12 10s) — 20 17 6 E., S., and A. (£3 pd.) — 5 7 6 Natl, of A/asia. (£5 paid) 7 1 6 7 4 0 Natl, of N.Z. (£2 10s) 2 12 6 — New Zealand (£1) .. 2 4 0 2 4 3 N.Z. (mort shares. £1) 1 10 0 1 11 0 Union of Aust. (cum div. and bonus, £5) 9 5 0 10 0 0 Insurance National (7s paid) 0 16 10 — N.Z. (cum div., £1) .. 3 2 6 — South British (£1) 2 7 6 — Loan and Agency Dalgety and Co. (£5) 8 5 0 8 10 0 Goldsbrough, Mort (£1) 1 11 0 1 12 0 N.Z. Guar. Corpn. (3s) 0 4 3 0 4 N.Z. Loan and Merc. (ord. stock, £100) — 51 10 0 United Building (£1) 1 0 6 1 1 0 Wright, Stephenson (prcf., £1) .. 1 0 6 — Newton King (pf., £1) 0 9 3 0 10 0 Shipping Huddart-Parkcr (£1) .. 2 3 0 2 4 0 Frozen Meat Cantby. (£7 30s paid) — 11 0 0 Gear (10s) 0 15 0 0 17 0 N.Z. Refrig. (10s paid, cum div.) 0 9 2 — Waitaki (£5) — 5 0 0 South Otago (£5) — 6 2 6 Woollens Felt and Textiles (£1) 1 18 3 Kaiapoi (17s paid) 0 12 0 — Coal Pukemiro (£1) 0 17 0 — Westport-Stockton (10s) 0 2 10 0 3 6 Westport-Stockton (pf., 10s) — 0 6 0 Kaitangata (16s pd.) .. 1 6 0 1 8 9 Gas Auckland (£1) — 1 1 6 Christchurch (£1) 1 7 6 — Ch.Ch. (10s paid) 0 13 0 — Breweries New Zealand (£1) 2 7 0 2 7 3 Dominion (£1) 1 17 9 1 19 (i Queensland (£1) 1 7 a Swans (cum div., 5s) 1 7 9 Tooths (£1) .. 2 14 9 2 15 6 Tooheys (rights) 0 5 0 — Tui (£1) 2 14 0 Timaru (in hqdn.) .. 0 0 9 0 1 3 Melbourne Co-op. (10s) 2 14 0 2 18 0 Miscellaneous Amalg. Wireless (con., 14s paid) — 2 12 6 Anthony Hordern (£1) 0 18 7 0 18 9 Aust. Glass (£1) 4 13 3 4 13 11 Beath and Co. (Is pd.) 0 1 1 0 1 9 Beath. and Co. (pf„ £1) 1 2 6 1 5 0 Booth, Macdonald (pf., £1) 0 1 9 0 2 5 British Tobacco (£1) .. 2 9 6 2 10 0 Broken Hill Fty. (£1) 3 2 11 3 3 0 Broken Hill Pty. (new) 1 14 10 1 15 1 Colonial Sugar (£20) .. — 46 10 0 Consolid. Brick (£1) .. 0 6 9 0 8 0 Cox Bros. (5s) 0 18 0 — Dom. Builders (10s) .. 0 3 G Dominion Fert. (£1) .. 1 3 0 — D.I.C. (10s) 0 14 0 0 14 9 Dunlop Rubber (£1) .. 1 3 8 1 3 9 Electro. Zinc (ord.,' £1) — 2 9 0 Electro. Zinc (pref. £1) 2 11 9 2 12 0 Evans Atlas Flour (10s) 0 19 0 — G. J. Coles (cum div., £1) 4 3 3 4 3 8 Greater Crystal Palace (£1) 0 6 6 — Hay's, Ltd. (con., las) — 0 15 3 Howard Smith (£1) .. 1 1 0 1 1 5 Hume Pipe (Aust.) (£1) 1 0 11 1 1 li Kauri Timber (25s) .. — 1 2 6 Mason, Struthers (£ 1 paid) 0 16 3 Mason. Struthers (14s paid) — 0 10 6 Mason, Struthers (10s paid) —. 0 7 6 Morts Dock (£1) 0 10 0 — McKenzie's Department Stores (£1) 3 13 9 National Electric (£1) 0 14 0 0 17 0 N.Z. Drug (£2) — 3 10 0 N.Z. Farmers' Co-op. (£2 10s paid) — 0 15 0 N.Z. Farmers' Co-op. (10s paid) — 0 0 3 N.2J. Farmers' Co-op. (1st pref., £5) — 3 9 0

FOREIGN EXCHANGES (BRITISH OFFICIAL WIRELESS.) RUGBY, January 19. Par. Jan. 18. Jan. 19 Paris, fr. to £1 124.21 149 9-16 148 13-16 New York, dol. to £1 4.866 4.99 13-16 4.99 J Montreal, dol. to £1 4.866 4.99 13-16 4.99? Brussels, belgas to £1 35 29.54$ 29.54$ Geneva, fr. to £1 25.2215 21.63J 21.632 Amsterdam, fl. to £1 12.107 8.97 8.97i Milan, lire to £1 92.43 95 95 Berlin, reichmarken to £1 20.43 12.402 12.41 Copenhagen, kr. to £1 18.159 22.40 22.40 Stockholm, kr. to £1 18.159 19.40 19.40 Oslo, kr. to £1 18.159 19.90 19.90 Vienna, schgs. to £1 34.585 26$ 26$ Prague, kr. to £1 164.25 1421 142 9-16 Helsingfors, marks to £1 193.23 226 J 226 $ Madrid, pesetas to £1 25.2215 — — Lisbon, escudos to £ 1 110 110 3-16 110 3-16 Athens drach to £1 375 547$ 547$ Bucharest, lei to £1 813.60 677* 677$ Belgrade, dinars 376.3 216 216 Rio de Janeiro, pence to milreis 5.90 2 13-16 2 13-16 Buenos Aires, pence to dol. 51 — — Montevideo,, pence to peso * 243 242 Bombay, pence 1 to rupee 18 18k 18> a Shanghai, pence to yen * 14 3-16 14 3-16 Hong Kong, pence to yen * 15 15 Yokohama, pence to yen 24.58 14 14 Batavia, guilders 12.107 8.95 8.95 Warsaw, par zlotys to £1 43.36 — — •Determined by price of silver.

N.Z. Farmers' Co-op. ("A" pref., £4) .. — 2 0 0 N.Z. Fanners' Co-op. ("B" prof., £4) .. — 1 19 0 NiZ. Fanners' Co-op. (4J p.c. Stock, 1939 £100) .. .. 92 0 0 — N.Z. Farm. Fert. (£1) 0 19 6 N.Z. Newspapers (16/8) 1 18 3 2 0 0 N.Z. Paper Mills (£1) .. — 16 0 Radio (1936) (10s) ., 1, 1 3 13 6 Standard Cement (£1) 0 18 1 0 19 0 Taranaki Oil. (24/7) .. 0 6 2 0 6 7 United Provisions (ED 0 6 6 0 7 6 Wilson's Cement (10s) 0 17 9 0 18 9 Woolworths (N.Z.) (ord., 5s paid) .. 10 0 10 6 Woolworths (N.Z.) (pref., £1) .. .. 1 17 0 — Woolworths (Sydney) (1st pref., £1) .. 2 0 0 — Wool-worths (Sydney) (ord., 5s) .. .. 15 7 15 8 Oversea Listing Woolworths (S. Africa) (5s) .. .. 0 14 4 0 14 8 Mining Addison's Flat (Is) .. — 0 13 Argo (ls> .. .. 0 17 — Argo (6d paid) .. 0 14 — Barry town (£1) .. — 17 3 Big River (Is) .. — 0 14 Clutha River (4s) .. 0 2 2 0 3 6 Grey River (8/9 paid) 0 11 8 0 11 10 Maori Gully (Is) .. 0 0 4J 0 0 6 Moonlight Gold. (8d paid) .. .. 0 0 5 0 0 6 Mossy Creek (Is) .. — 0 16 Nemona (Is) .. — 0 16 Nokomai (5s) .. 0 2 0 0 2 8 Skippers (Is) . . — 0 0 2J Waihi Gd. June. (2s) 0 2 111 — Worksop Extend. (Is) 0 0 11 0 13 Australian Mining Broken Hill Sth. (5s) 1 15 0 1 15 2 Mount Lyell (£1) .. 1 12 3 1 12 4 Mount Morgan (2/6) .. 0 10 4 0 10 5 Nth. Broken Hill (5s) 2 14 9 2 16 3 Wellington Alluv. (2s) 0 5 6 UNLISTED STOCKS All transactions in stocks quoted in this section are subject to a differen t rate of brokerage from listed stocks and are not quoted on the official list. Buyers Sellers. £ s. d £ s. d. Alloy Steel (Aust.) .. 0 10 6 — Assoc. Motorists Petrol (pref.) .. 15 0 — A.P.A. .. .. 0 9 0 — Brunner Collieries .. — 0 12 0 .Coulls, Somerville .. 0 14 0 0 16 0 New River .. .. 0 0 3 0 0 7 N.Z. Perpetual Forests 2 7 6 2 11 9 Selfridges (A'asia.) .. — 18 6 Westland Breweries (contr.) .. .. 10 0 — Woolworths (W.A.) .. — 5 15 0 AUCKLAND Sales on 'Change £ s. d. Ins. Stock, 1953-57. 31 p.c. (2) 97 5 0 Ins. Stock, 1939-41, 3 p.c. 97 5 0 Ins. Stock, 1946-49, 4 p.c. ..103 5 0 E., S., and A. Bank 5 6 0 Bank of New South Wales .. 33 5 0 Bank of New Zealand (2) 2 4 0 South British .. (2) 2 8 3 Traders' Finance (con.) 0 4 6 Auckland Gas (15s paid) (odd lot) 0 15 0 Broken Hill (con.) 1 15 0 Dunlop-Perdriau .. (2) 13 6 Farmers' Trading (A pref.) 12 9 Wilson's Cement 0 18 1 Woolworths (Sydney) (2) 15 7 W. R. Carpenter .. (2) 2 7 3 Woolworths Holdings (S.A.) (2) 0 14 9 Waihi Invest. .. (2) 0 9 10 Wellington Alluvials 0 5 11 0 5 111 WELLINGTON Sales on 'Change £ S. d. Bank of N.Z. "D" long term (odd lot) 19 0 Bank of New Zealand 2 4 3 N.Z. Refrigerating (10s) 0 9 4i Electrolytic Zinc (ord.) 2 9 0 (All above late Wednesday) Bank of New Zealand (2) 2 4 3 2 4 0 Bank of N.S.W. .. (2) 33 5 0 N.Z. Guarantee Corp. f2) 0 4 6 N.Z. Breweries 2 7 3 2 7 1 2 9 10 British Tobacco Dunlop 13 5 Westport Coal 13 6 Woolworths (N.Z.), Ltd.' (ord.) 10 3 Woolworths, Ltd. (ord.) (2) 15 8 Taranaki Oil 0 6 9 Mount Morgan 0 10 4 DUNEDIN Sale on 'Change £ s. d. Broken Hill South 1 15 0 1 15 3 Sales Reported N.Z. Insurance 3 3 0 N.Z. Refrigerating (con.) 0 9 4J Electrolytic Zinc (pref.) 2 11 9 SYDNEY The Sydney Stock Exchange yesterday was dull, with price movements of industrials only within narrow limits. The undertone of the market was reasonably firm. Morning Sales £ s. d. Commmercial Bank of Aust. .. 0 17 4i Tooths 2 15 9 Associated Newspapers 1 3 4J British Tobacco 2 10 6 Colonial Sugar 46 15 0 Dunlop-Perdriau (N.Z. delivery) 14 0 Henry Jones 2 10 0 Afternoon Sales Bank of New South Wales .. 33 12 6 Comm. Bank of Sydney .: 20 17 0 National Bank (£5 paid) 7 3 6 Queensland National Bank 5 4 0 Bank of New Zealand 2 4 0 Colonial Sugar 46 15 0 Associated Newspapers 13 3 Huddart -Parker 2 4 0 British Tobacco 2 10 6 Tooths 2 15 9 Dunlop-Perdriau 1 4 U Dunlop-Perdriau (N.Z. delivery) 14 0 Anthony Hordern 0 18 101 General Industries 10 3 Kandos Cement 15 3 Producers and General Ins. .. 0 9 0 Gibson, Howes 1 12 6 Standard Cement 0 19 0 Woolworths 1 5 101 Wunderlich 110 Cash Orders 0 17 6 Felt and Textiles (old) 1 18 3 Gordon and Gotch 2 12 6 Mauri Bros 3 10 0 Peters Ice 2 16 0 United Provisions 0 7 0 United Provisions (pref.) 10 6 Goldsbrough, Mort 1 11 71 Henry Jones 2 10 0 Electrolytic Zinc (pref.) 2 13 0 Mount Morgan 0 10 3 North Broken Hill .. 2 16 6 South Broken Hill 1 15 3 Bulolo Gold 6 11 0 Rawang Tin 0 10 1 MELBOURNE Little variation was shown in industrials, but mining generally was easier. reflecting the irregular tone in London and New York. Sales :— £ s. d. National Bank (£10 paid) .. 14 11 0 Howard Smith .. • • 116 British Tobacco 2 10 3 G. J. Coles 4 4 6 Drug Houses 15 6 Australian Glass 4 14 6 Dunlop-Perdriau 14 2 Dunlop-Perdriau (pref.) 1 18 3 Australian Paper Mfrs. (pf.. fully paid") 16 0 Electrolytic Zinc (pref.) 2 12 9 Mount Morgan ... 0 10 4 Mount Lyell 1 12 9 Broken Hill South 1 15 0 Emperor' Gold 0 12 11 Loloma 0 18 5

BANK OP NEW SOUTH WALES The Bank of New South Wales quoted the following exchange rates yesterday:— Buying. Selling N.Z. on London— £N.Z. to £100 stg. T.T 124 124/10/O.D. 123/10/124/8/9 Australia — £A to £100 N.Z. T.T 101 100/10/O.D 101 100/10/Fiji— £F to £100 N.Z. T.T 90/7/6 89 O.D 80/7/6 89 New York— Dol. to £1 N.Z. T.T. 4.0416 4.0071 O.D. 4.0516 4.0111 Montreal— Dol. to £1 N.Z T.T. 4.0405 4.0081 O.D. 4.0525 4.0121 Austria— Sengs to £1 N.Z. T.T. — 21.00 O.D. — 21.01 Belgium— Belgas to £ 1 N.Z. T.T. 23.941 23.631 O.D. 24.016 23.642 Czechoslovakia — Crns. to £1 N.Z. T.T. — 113.46 O.D. — 113.51 Denmark — Kroner to £1 N.Z. T.T. 18.203 17.893 O.D. 13.263 17.899 France— Francs to £1N.Z. T.T. 120.94 118.44 O.D. — 118.48 Germany— Reichmarks to £1 N.Z T.T. — 9.899 O.D. — 9.904 HollandFlorins to £1 N.Z. T.T. 7.311 7.161 O.D. 7.351 7.165 ItalyLire to £1 N.Z. T.T. — 76.16 O.D. — 76.21 Java— Florins to £1 N.Z. T.T. 7.283 7.133 O.D. 7.323 7.137 Norway— Kroner to £1 N.Z. T.T. 16.182 15.892 • O.D. 16.242 15.898 Sweden— Kronor to £1 N.Z. T.T. 15.788 15.493 O.D. 15.848 15.499 Switzerland— Francs to £1 N.Z. T.T. 17.565 17.295 O.D. 17.670 17.300 Noumea— Francs to £ 1 N.Z. T.T. 122.19 117.19 O.D. — 117.23 Papeete— Francs to £1N.Z. T.T. 122.04 117.24 O.D. — 117.23 Hong Kong— N.Z. pence to dol. T.T. 18 29-64 18 53-64 O.D. 18 27-64 18 53-64 India and Ceylon— N.Z. pence to rup. T.T. 22g 22 21-32 O.D. 22 11-32 22 21-32 Japan— N.Z. pence to yen T.T. — 171 O.D. — m Shanghai— N.Z. pence to dol. T.T. — 18 9-64 O.D. — 18 9-64 Singapore—• N.Z. pence to dol. T.T. 34 23-32 35 13-64 O.D. 34| 35 13-64

Chefoo— c N.Z. pence to dol. Manila— N.Z. pence to peso T.T. O.D. T.T. O.D. — 18J _ 18 7-64 29 37-64 30 5-64 29 31-64 30 5-64

U.S.A. Canada (Per £1 N.Z.) Dol. Dol. Selling— T.T. O.D. .. 4.00J .. 4.0H 4.00 13-16 4.01 3-16 Buying— T.T. O.D. .. 4.044 .. 4.051 4.04 4.051 ,