COMMERCIAL

Evening Post, Volume CXXV, Issue 69, 23 March 1938, Page 13

COMMERCIAL

STILL CHEERFUL!

LONDON EXCHANGE

PRESSURE ON THE FRANC

i (By Telegraph.—Press Assn.—Copyright.) (Received March 23, 12.50 p.m.) - LONDON, March 22. I The stock markets are quieter but are still cheerful, notably gilt-edged securities. This is l&rgely attributed to foreign buying owing to increasing pressure on the French franc.

IMPROVED DEMAND

WOOL SALES IN LONDON

(By Telegraph—Press Assn.—Copyright.) {Received March 23, 12.50 p.m.) LONDON, March 22. At the wool sales today 9543 bales were offered, including 4122 New Zealand, and 8131 were sold. The better selection offered met with an improved demand and good clearances were effected at steady rates. New Zealand greasy crossbred "Totangi" sold at- an average of 83d and the top price was lid.

Wright, Stephenson, and Co., Ltd., and Abraham and Williams, Etd., report having received cabled advice from their London house regarding the London wool sales reading as follows: The sales continued before an average attendance of buyers with the market firm. Continental and Bradford buyers were the chief operators. An average selection of wools was offered. We quote the following realisations:—

Greasy merino, 60/64 yielding 48 per cent., Ui&', greasy fine halfbred, 56/58, 62 per cent., 12Jd; greasy halfbred, 50/56, 68 per cent., 12d; greasy threequarterbred, 48/50, 74 per cent., lid; greasy fine crossbred, 46/48, 75 per cent., lOJd; greasy medium crossbred, 44/46, 75 per cent., lOd; greasy crossbred, 40/44, 76 per cent., lOd; greasy coarse crossbred, 36/40, 76 per cent., lOd; greasy crossbred lambs, 46/50, 74 per cent., lid. Australian merino and slipe wools were firm, while scoured merinos were irregular.

BUTTER MARKET SLOW

(By Telegraph—Press Assn.—Copyright.) (Received March 23, 12.45 p.m.) LONDON, March 22. The butter market is slow. Choicest salted Australian and New Zealand, 117s a cwt; unsalted, 121s to 1225.

METALS MARKET

BANK AND OTHER SHARES

(By Telegrapli.—Press Assn.—Copyright.) (Received March 23, 12.45 p.m.) LONDON, March 22. On the London Stock Exchange quotations of bank shares and other corporation debentures and stock compare with previous quotations as follows:— Mar. 8. Mar. 22. £ s. d. £ s. d. Bank of A'asia . .717 6 715 0 ES. & A 4 60 410 Union of Aust. .. 6 .8 9 6 6 3 New South Wales 25 5 0 25 0 0 National of N.Z. . 2 16 2 19 Bank of N.Z. ... 113 0 113 0 British Tobacco . 1 18 3 117 6 Goldsbrough Mort 1 3 1J 15 0 Dalgety 612 6 612 6 P. &O. Defd. ... 1 0 0 103 N.Z. Loan & dels. o '' .°. 92 0 0 92 0 0 N.Z. Loan & Merc, (ord.) . 27 0 0 27 0' 0

SHARE MARKET

WELLINGTON STOCK EXCHANGE.

Midday Sales on 'Change.—G. J. Coles, 81s, 100; G. J. Coles, 80s lid, 200 (2 sales); Wilson's Cement, 17s 10d, 400 (2 sales). (By Telegraph—Press Association.) : AUCKLAND, This Day. Sales: New Zealand Insurance; 60s; Colonial Sugar, £46; New Zealand Newspapers (odd lot), 37s 3d; Woolworths Holdings (4), 15s 9d, 15s 8d; Stock (15/1/53-57), £98 10s; Stock (15/4/46-49), £104 2s 6d; Whakatane Paper Mills (odd lot), 5s 9d. . Sales (12.15 call).—South British Insurance, 465; Kauri Timber, 21s sd; Farmers' Trading, 20s; G. J-Coles, 80s 6d; Wilson's Cement, 17s .lid; Woolworths Holdings, 15s Bd. . Unlisted.— Waikato Carbonisation, £92 10s. CHRISTCHURCH, This Day. Sales: British Tobacco (cum div.), 48s 4d (2), 48s 2d; Broken Hill Proprietary 60s 4d; Electrolytic Zinc, 445; Taranaki Oilfields, 6s 3d; Skippers, Ltd., id; Mount Lyell, 29s 6d. Reported: New Zealand Government 3i per cent. Stock (1953-57), late sale yesterday. £98 10s.,

SYDNEY STOCK EXCHANGE.

(By Telegraph—Press Assn. —Copyright.) (Received March 23, 2 p.m.)

SYDNEY, This Day. Sales on the Sydney Stock Exchange include:—Bonds, 4 per cent. (1938), £101-13s 9d; 4 per cent. (1941), £104-4 per cent. (1947), £103 10s; 4 per cent. (1950), £104 2s 6d; 4 per cent. (1961), £104 10s; Bank of Australasia, £10 ss; Commercial Banking Co. of Sydney, £21; Bank of New South Wales, £32 10s; Tooth's Breweries, 55s 6d; Australian Glass, 91s 6d; British Tobacco, 495; Broken Hill Proprietary, 60s Gd; Meggitt's, 325; Mart's Dock, 10s 3d.

DOLLAR RATES.

The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates. today, on a New Zealand currency basis. They are. subject to alteration without notice. LT.S.A Canadian Dollars. Dollars. (Per£l (Per£l N.Z.) N.Z.)

Sf£ g~ 3.98=1 4.00 3-16 On demand ... 3.98 5-8 4.00 5-8 Buying—

On demand ... 4.02 9-16 4.04 5-8

(Received March 23, 1 p.m.) LONDON, March 22. The official London (middle) quotations, as reported by the Australian Mines and Metals Association, compare with those previously cabled as :follows:- ' Mar2L Mar22 ; Per ton. Per ton. £ s. d. £ s. d. CopperStandard, spot 40 8 9 « 0 74 Ditto, forward 40 13 U 40 5 U Electrolytic . o 44 0 O o 44 10 0 Wire bars ... 45 0 0 44 10 0 Lead— ' Snot 17 3 U I6 I6 3 Forward" ".'..'. 17 " 3 14. 16 16 10| SpelterSpot ,.. 14 18 14. 14 14 44. Forward ... 14 18 H 14 15 7£ TinSpot 184 12 6 185 12 6 Forward ... 184 18 9 185 17 6 Silver— !^ d". d'. p. OT.° z S?:ig' §138