FOREIGN EXCHANGES

Dominion, Volume 33, Issue 69, 14 December 1939, Page 12

FOREIGN EXCHANGES

Position Of Sterling By Telbgraph.—Press Assn.—Copyright LONDON, December 12. The following mean closing rates on foreign exchanges were current today: —

LONDON, December 12. Gold.— £B/8/- an ounce, tine. Silver.—Spot, 23 7-16(1. an ounce; forward, 25 5-l Gd. Australian Share Markets By Telegraph.—Press Assn.—Copyright. (Received December 13, 10 p.m.) SYDXEI', December 13. With attention focused mainly on tin shares, today’s share market in Sydney was without appreciable change. Sales included: —

North Broken Hill 2 8 0 ■Morning sales included Commercial Bank of Sydney, £lB/11/-; Bank of New South Wales. £26/18/-; Australian Consolidated Industries. 38/9; Australian Consolidated Industries (cont.), 16/10i ; Broken Hill Proprietary, 79/-; Burns, Philp, 54/6; Colonial Sugar. £49 15/-; Huddart Parker, 57/3. MELBOURNE. December 13. Sales on the Melbourne Stock Ex-

Tasmanian Newsprint Mill Construction of a mill for the manufacture of newsprint in the Derwent Valley-. Tasmania, is well under way. Australian Newsprint Mills Proprietary. Limited, expects that the production of newsprint will be begun by next September, and that it will soon reach a point where between -100 and 500 tons> of newsprint will be dispatched weekly from the mill. Later production will rise to 500 to 600 tons weekly. Newspapers throughout Australia will utilize the newsprint that is to be made from Tasmanian timber. Up to the present' al] newsprint required has had to be imported into Australia. Commonwealth Steel A. profit of £17.777 is reported by Commonwealth Steel Company. Limited, ft Victorian concern in which Broken Hid Proprietary Company. Limited, holds a large number of shares. A dividend of 3 per cent, was recommended. 'The directors have decided to include in the companv s operations the manufacture of stainless steel. Necessary plant is being installed.

Par. December 12. N. York, dol. to £ 4.806 4.03 Montreal, (lol. to £ 4.800 4.45 Paris, francs to £ 124.21 1761 Brussels, bel. to £ 48.011 24.275 Geneva f r s . to ~ ) 17.875 Amsterdam, fl. to £ 12Y07 7.55 Berlin, marks to £ 23.43 — C’hagen, k n r. to £ 18.159 20.31 St’holm, k n r. to £ 23.43 16.85 Oslo, kroner to £ 18.129 17.65 Hels'ki, m k s. to £ 183.23 ■— Madrid, p e s . to £ — Lisbon, esc. to £ loo 110.25 Milan, lire to £ 92 77.50 Athens, drac. to £ 375 540 Bucharest, lei to £ 813.60 — Belgrade, din. to £ 270.31 — Rio de J., p. to mil 4.99 —— B. Aires, p. to pesa 47.62 —— M’Video, p. to peso 51 — Calcutta, p. to rup. 18 18 H. Kong, p. to dol. — 14 63-64 Yokohama, p. to yen 24.582 14 13-32 Shanghai, p. to dol. —— Batavia, florins to £ 12.107 7.44/7.54

£ s. d. Bank of New South Wales 20 19 0 Commercial Bank of Sydney 18 11 0 Commercial Bank of Austr. 0 14 11 4!) 15 0 0 17 0 Ditto iprpf. 0 18 0 Austr. Iron and Steel, pref. 1 0 Australian Consol. Industries 1 IS 71 \Vool worths, Ltd. 1 1 10 G J Coles 14 0 i 0 6 Mount Lyell i 10 10 Electrolytic Zinc, pref. ... 19 6 Ditto. N.Z. delivery — 19 6 Broken Hill Pty 3 18 9

change today included : — £ s. d. National Bank, £10 paid . . 12 is 0 Ditto. £5 paid 0 iHnddmrt Parker 17 G J. Coles 3 13 9 Imneriai Ghemicals, pref. . 1 1 Loloma 1 ' 1 9 Emperor Mines 0 12 8