BETTER MARKET

Dominion, Volume 31, Issue 22, 21 October 1937, Page 14

BETTER MARKET

Improvement In Melbourne INDUSTRIALS HIGHER By Telegraph.—Press Assn. —Copyright. (Received October 20, 9.40 p.m.) Melbourne, October 20. On the Melbourne Stock Exchange today industrials and Barriers improved sharply following a better market overseas. Gold shares were irregular. Sales: Commercial Bank of Australia, 17/5: National Bank, £lO paid, £l4/5/-; E.S. and A. Bank, £5/10/-. Adelaide Steam, 32/6; Howard Smith, 21/4; British Tobacco, 48/-. Carlton Brewery, 65/-; G. 3. Coles, 93/-; Drug Houses, 26/3; Australian Iron and Steel, pref., 28/-. Dunlop Perdriau, 22/3; Goldsbrough Mort, 34/-; Cox Bros., 17/3; Hume Pipe, 20/2. Electrolytic Zinc, 51/3; pref., 54/6; Mt. Morgan, 10/7; Mt. Lyell, 38/-; Broken Hill Ppty., 67/-; North Broken Hill, 58/6; Broken Hill South, 40/-; Zinc Corporation, £5/8/-; Emperor, 11/7; Loloma, 17/5. , National Investment Trust, buyer 12/-, seller 12/6. Sydney, October 20. Business on the Sydney Stock Exchange to-day was without any notable feature except that base metal stocks revealed a weaker tendency. Sales: Bank of New South Wales, £33 12/6; Commercial Bank of Sydney, £2l 4/-; Bank of New Zealand, 44/-; Colonial Sugar, £47/2/6. Associated News, 22/7}; ditto, pref., 23/3; Adelaide Steam, 32/9; Burns Philp, 58/3; British Tobacco, 48/3, Tooths, 54/9; Tooheys, 31/7}; G. J. Coles, 92/3; Dunlop Perdriau, 22/44. Anthony Hordern, 18/10}; Kandos, 24/6; Permanent Trustee, 95/-; Westinghouse, 22/6; Manly Gas, 24/3. Amalgamated Wirjess, contr., 55/-; Associated Paper and Pulp, 19/3; Australian Paper Mfrs., pref., paid, 24/3; United Provisions, 7/7; Winchcombe Carson, 33/6. Electrolytic Zinc. 51/9; ditto, pref., 55/-; Mt, Lyell, 37/9; Rawang Tin, 10/8; Emperor, 11/7. Morning sales included: Commonwealth bonds, 4 per cent. (1938), £lO2 2/6; 4 per cent. (1941), £103; 4 percent. (1947). £lO2/1/3: 4 per cent (1950), £lO2/11/3; Commercial Banking Co. of Sydney, £2l/3/-; Tooths Brewery, 54/2; Tooheys Brewery. 37/7}; Broken Hill Proprietary (rights), 30/6; Burns Philp, 58/3; Colonial Sugar, £47/2/6; Dalgety and Co., £9/17/-,'Electrolytic Zinc, 50/-. FOREIGN EXCHANGES Position Of Sterling By 'Telegraph.—Press Assu.--Copyright. London, October 19. The following mean closing rates on foreign exchanges were current to-day compared with those ruling on October 18: Par. Oct. 18. Oct. 19. N. York, dol. to £ 4.866 4.9513-16 4.95 7-16 Montreal, dol. to £ 4.866 4.95} 4.95 3-16 Paris, fr. to £ 124.21 146 41-64 146 25-64 Brussels, bel. to £ 48.011 29.41} 29.38} Geneva, fr. to ' £ 25.225 21.55 21.52} Amst’dam, 11. to £ 12.107 8.905 8.951 Berlin, niks. to £ 23.43 12.34} 12.335 St’holm, knr. to £ 18.159 19.393 19.395 Chageii, knr. to £ 18.159 22.40 22.40 Oslo, knr. to £ .18.159 19.90 19.90 Vienna, schgs. to £ 34.385 20.50 26.30 Prague, knr.- to £ 134.25 141} 1411 Hel’f ors, inks, to £ 193.23 220.125 220.125 Madrid, pes. to £ 25.225 — — Lisbon, esc. to £ 100 110 3-16 110 3-16 Milan, lire to £ 92 941 94} Athens, drac. to £ 375 *547} *547} Bucharest, lei to £ 813.60 *672.30 *672.50 Belgrade, din. to £ 276.31 216 216 Rio de J., p. to mil. 4.899 f4} 11} B. Aires, p. to pesa 47.02 — — M. Video, p. to peso 51 39,13-16 3913-16 Calcutta, p. to rup. 38 18} . 18} Shanghai, p. to dol. 18 14 5-16 14 5-16 H.-Kong, p. to dol. — 15 13 Y’hama, p. to yen 24.582 14 14 Batavia, fl. to £ 12.107 8.95 8.95 * Unofficial. f Official. London, October 19. Gold.—£7/0/5} an ounce, fine. Silver. —Spot, 20d. an ounce; forward, 1915-16 d. On New Zealand Currency Basis ■ The Bank of New South Wales, Wellington, quoted the following rates for their purchases and sales of foreign exchange yesterday:—

Tlie Associated Banks (other than the Bank of New South Wales), quoted the following dollar rates yesterday on a New Zealand currency basis. They arc. subject tq alteration without notice. U.S.A. Lol. Canadian Doi. Selling: (Per Bl N.Z.) (Per £1 N.Z.) T.T. 3.07 3-16 3.07 O.D. 3.97 9-16 3.978 Buying: O.D. 4.015 4.0111-16 N.Z. Pound Abroad Based on figures quoted by the Bank of New South Wales, the New Zealand pound, compared with its original pur value, is equivalent to approximately :— 16/1 in London. £l/0/1 in Australia. 16/4 in U.S.A. 16/4 in Canada. 18/98 In France. 1(5/4 in Italy. 9/71- in Germany. 11/91 in Jnvu. £l/8/1 in Japan. Gold Mining Returns The latest return of the Clutha Gold Dredging Company makes the total gold won to date 45680 z. The dretk’c begun operations oil May 22 and the latest return of 3440 z. is the third best wash-up. Taking gold at £7 per ounce, the value amounts to £31,976. During September the Bulolo gold dredges produced 18,3100 z. of bullion, containing 12,8380 z. of fine gold, from 893,600 cubic yards. The estimated working profit is 85930 z.

Now Zealand Buying, Selling. on London . T.T. 124 124/10/£N.Z. to £stg. 100 O.D. 123/10/- ■ 124/8/9 Australia £A to £ N.Z. 100 'I’.T. O.D. 101 100/10/Fiji £F to £N.Z. 100 T.T. O.D. 00/7/0 89 Now York T.T. 4.0059 3.9715 Doi. to £N.Z. . O.D. 4.0159 3.9755 Montreal T.T. 4.0036 3.9712 Doi. to £N.Z. . O.D. 4.0156 3.0752 Austria T.T. — 20.82 Schgs. to £N.Z. O.D. T.T. — 20.83 Belgium 23.812 23.502 Bel. to £N.Z. . O.D. 23.887 23.5J3 Czechoslovakia .. - T.T. — 112.80 Crs. to £N.Z. . O.D. — 112.91 Denmark T.T. 18.203 17.893 Knr. to £N.Z. . O.D. 18.263 17.899 France T.T. — 110.55 Frs. to £N.Z. . O.D. — 116.59 Germany T.T. —- 9.838 Mks. to £N.Z. . O.D. —— 9.843 Holland T.T. 7.303 7.153 FIs. to £N.Z. .. O.D. 7.343 7.157 Italy T.T. — 75.51 Lire to £N.Z. . O.D. —• 75.56 Java T.T. 7.279 7.129 FIs. .to £N.Z. . O.D. 7.319 7.133 Norway T.T. 16.181 15.891 Knr. to £N.Z. . O.D. 16.241 15.897 Sweden T.T. 15.785 15.490 Knr. to £N.Z. . O.D. 15.845 15.496 Switzerland T.T. 17.47(1 17.206 Frs. to £N.Z. . O.D. 17.581 17.211 Noumea T T. — 115.30 Frs. to £N.Z. . O.D. — 115.34 Papeete T.T. —— 115.35 . Frs. to £N.Z. . O.D. 115.39 Hong-Kong .... 'I’.T. 18 29-6-4 18 53-64 N.Z. d. to Doi. . O.D. 18 27-64 18 53-64 India and Ceylon . T.T. 228 22 21-32 N.Z. d. to Hup. O.D. 22 11-32 22 21-32 Japan T.T. — 17 33-64 N.Z. d. to Yen . O.D. —_ 17 33-64 Shanghai I’.T. —- 1811-64 N.Z. d. to Doi. . O.O. —- 18 11-64 Singapore T.T. 34 23-32 35 13-64 N.Z. d. to Doi. . O.D. 34J 35 13-64 Chefoo T.T. — 18 15-64 N.Z. d. to Doi. O.D. .— 18 7-32 Manila T.T. 29 57-64 30 25-64 N.Z. d. to Peso . O.D. 29 51-64 30 25-64