SYDNEY STOCK EXCHANGE

Dominion, Volume 28, Issue 124, 19 February 1935, Page 12

SYDNEY STOCK EXCHANGE

Heavy Trading Yesterday By Telegraph.—Press Assn.—Copyright. (Received February 18, 8.40 p.m.) Sydney, February 18. On the Sydney Stock Exchange to-day dealings were heavy. A big line of Commercial Bank of Sydney shares was placed and over 1000 Tooth’s shares were absorbed. Sales: Colonial Sugar. £4l; Bank of New South Wales, £3O/10/-; Commercial Bank of Sydney, £l6/5/-; Associated News, 22/3; ditto pref., 23/1 j ; Howard Smith, 16/-. Burns Philp, 62/-; Tooth’s, 48/-; Dunlop .Perdriau, 1/9; Dalgety’s, £/12/6; Henry Jones, 37/-; Electrolytic Zinc, 22/-; Farmers, 25/-; Anthony Hordern, 17/-; Lustre Hosiery, 26/9; Standard Cement, 18/10 J. Mount Morgan, 40/-; Broken Hill Proprietary, 50/3 ; Kuala Kampar Tin, 13/3 ; Rawang Tin, 8/-;. Placer Development, £2B; General Industries, 14/3; ditto pref., 26/-. Morning sales included : Commonwealth Bonds, 3jf per cent., 1942 .£lO3/12/6; 4 per cent., 1938 £lO4/5/-, 1957 £lOB/3/9, 1961 £l/9/7/6; Commercial Bank of Sydney, £l6/5/-; Australian Gas, A., £7/8/-; Tooth's, 48/3; Anthony Hordern, 17/41; Associated News, pref., 23/3; Broken Hill Proprietary, 51/3; Goldsbrough, Mort, 28/6. ' ' By Telegraph.—Press Assn!—Copyright. Melbourne, February 1.8. Sales on the Melbourne Stock Exchange to-day included: Commercial Bank, of Australia, pref.. £9/19/-; Broken Hill Proprietary, 51/-; Goldsbrough Mort, 28/9; Mt. Lyell, 18/-. London Stock Exchange By Telegraph.—Press Assn.—Copyright. London, February 16. The past week has been one of trial and tribulation for the London Stock ExchangeMarkets have not been so disturbed since the crisis of 1931. As mentioned a fortnight ago the trouble in the commodity markets caused some nervousness. This was followed by newspaper talks of an acute Cabinet crisis and the likelihood of an early General Election, with the possibility of a Socialist victory at the polls. These stories had an immediate effect on foreign' holders of gilt-edged securities, who are notoriously apt to take alarm very easily. The result was heavy foreign selling from Monday till Wednesday last. This knocked down the prices of a number of British funds by £3 to £4. There were also considerable profit-tak-ing sales by home holders. The weakness spread to industrials nnd all departments were affected. On 'Wednesday afternoon the recovery commenced, and it was continued until Friday, Mr. MacDonald’s and Mr. Chamberlain’s speeches having a reassuring effect on the market. Electrolytic Zinc Company The Electrolytic Zinc Company of Australasia, Limited, has advised the Stock Exchange Association that the new unit of the zinc plant at Ilisdon will be put into commission early in March, thus increasing the production of zinc from 54,000 tons to 70,04)0 tons per annum. This unit will continue in operation for approximately 12 months, using accumulated stocks of raw material. Its operation after that period will depend ni conditions then existing, and more particularly on the prices of zinc, lead, and silver being sufficiently high to permit of opening the company’s mines on the west const of Tasmania for production. London Markets The Bank of New South Wales has received the following cable message from its London office, dated February 15: — Wool; Market remains firm, with steady inquiry for all crossbred wool. Mutton: Ewes, 3d. to 4 1-Sd.; wethers, 3Jd. to s}d. Lamb, 6 5-Bd. to 7 3-Bd. Beef, 2}d. to 4d. Pork, sd. to 5Jd. Butter, 88/- to 89/-. Cheese, white and coloured, 49/-.