COMMERCIAL

Evening Post, Volume CXXXV, Issue 2, 4 January 1943, Page 2

COMMERCIAL

SECURITY MARKETS

CLOSED OM HIGHER VALUES

(By Telegraph—Press Association— Copyright.) LONDON, January 1. The stock and share markets which a year ago bade farewell to one of the most critical years for the British people have now closed on a note of Complete confidence in .an ultimato Allied victory. Tho past year, despite reverses met with in the opening months, has been a favourable one for investors. : . • The January review of the market, made by the "Bankers' Magazine," shows, an increase of £194,500,000 sterling, or 3 per cent., in the aggregate market value of 305 representative securities. This appreciation, however, greatly understates the improvement in the market values of speculative securities, because the British Government and the Dominions' securities and other gilt-edged investments included in the list have scarcely changed, and. in some Instances have only silghtly declined. / British home industrials and railways, foreign Government and foreign railways, all show 'substantial gains. The most spectacular fluctuations have occurred in oil, tin. and rubber shares, all of which show some Improvement in value on tho year. OH shares have actually risen by nearly one-third. DOW JONES AVERAGES. (By Telegraph—Press Association—Copyright.) (Rec. 8.30 a.m.) NEW YORK, January 4. Dow Jones averages (1926 equals 100) and turnover on tho New York Stock Exchange compare as follows: — 20 30 Shares Bails. Indus. sold. December 1 .. 26.84 114.61 361,000 December 29 .. 26.88 118.40 1,441,000 December 31 .. 27.39 119.40 1,051,000 January 2 ..■ 27.59 119.93 260,000 LONDON SHARE INDICES LONDON, January 2. "Financial Times" stock and share indices, with previous quotations, are (October 15, 1926, equals 100) :— Govt. Homo Indus- Gold- I sees, rails, trials, mines. December 29 .. 113.6 65.4 117.6 152.6 December 30 .. 113.6 65.7 117.6 152.8 December 31 .. 113.7 65,8 117.9 153.0 FOREIGN EXCHANGE RATES. Telegraphic exchange rates on overseas centres, supplied by the Bank of New South Wales, aro as follows: — T.T. T.T. On Buying. Selling. New York, dol. to £NZ 3.3542 8.2050 Montreal, dol. to £NZ .. 3.6039 3.5290 Ceylon, pence to rupee .. 22 3-16 22% India, pence to rupee 22 3-16 22% Sth. Africa, £SAIOO to £NZ 12?, 125% Londou, SSt.IOO to £NZ 121% 125 Aust., £NZIOO to £A .. 100 Mi 100 Fiji, £NZIOO to £F ... 90 88% » GOVERNMENT STOCKS DEARER. I (By Telegraph—Press Association —Copyright.) LONDON, January 3. Government Stocks aro firm, with British Issues doing a fair amount of business. New Zealand and' Australian Stocks are slightly more aclivo. Quotations in: London of British Government and New Zealand Stocks, compared with prices last week, aro as follows: — Last week. This week. £ £ Consols, 2W p.c 82 82% Fund. Loan, UO-90, 4 p.c. 113% 313% ' War Loan, 4»/ a p.c. ... 104Fs 105 Cony. Loan. 61, SVz P.c. 103Vj 103% Victory Bonds, 4 p.c. .. 114 114 1-16 N.Z., 49-53, 4% p.C. ...102Vs! 102% N.Z., 1953, 3 P.c 09% 99% For the week ended December 17, 1942, Consols wero 81 3-1(5; 3% p.c. War Loan, 104 3-8; 4% per cent. N.Z., 102%; 3 per cent. N.Z., 99 3-S. BOND'S INDUSTRIES. Directors of Bond's Industries, Ltd., Sydney, have varied proposal for exchanging debenures for siiares. For each £100 debenturo held at December 14, it is proposed that the holder accept either (a) 100 6 per cent, cumulative first preference shares of £1 each, or (b) SO preference shares and 20 ordinary shares of £1' each. Creation of 400,000 preference shares is also proposed. These terms have been arranged so that no holder woud be bound by the decision of the majority if a proposal had been submitted to a meeting of debenturo holders. The scheme will not be proceeded with if less than 1500 debentures are submitted for conversion (the total outstanding Is 5120). BUSINESS IN BRIEF, * Automatic Total!sators, Ltd., Sydney, is not paying an ordinary dividend for the year ended June 30. Last year's rate was 4 per cent. Net prottt to £7724, from £13,364 for 1940-41. Heavy taxation provision accounts for the decline. Preference dividend of 7%' per cent, requires £3875, and £4330 la carried forward, against £481 brought forward. ' ■": Zinc Corporation, Ltd., reports that because of conditions beyond its control some delay in payment of dividends 1r inevitable. The directors have deferred until March consideration of the payment of tho second half of the fixed '•preference dividend and o£ any interim dividend for 1942. With the object of giving the Metropolitan Gas Co., Melbourne, authority to increase its capital by tho issue of 100,000 £5 shares, a BUI will bo introduced in /the Victorian Parliament. The money la for extensions and additions to the i>lant.