THE SHARE MARKET

Evening Star, Issue 22032, 18 May 1935, Page 13

THE SHARE MARKET

DUNEDIN STOCK EXCHANGE Sales in two Australasian banking concerns were reported this morning at current rates, and on ’Change a parcel of Refrigerating contributing shares' changed hands at 9s, while after the call Dunlop Rubbers had business at 16s 9d. Australian Glass shares continued in strong demand without revealing any sign of a seller. New Zealand Drugs iiad a slightly better buyer, but sellers have disappeared from the market. Electrolytic Zinc ordinaries moved up to. buyers at 255, with sellers only 3(J away. Little interest uas displajed in gold mining shares, and prices showed very little change. Tile demand for Government loans showed no sign of abating, with not a single seller in sight. SALES. Reported.—Bank of Australasia, £11; National Bank of Australasia, £l2 14s. On ’Change.—N.Z. Refrigerating (cont.), 9s. After Call.—Dunlop Rubber, 16s 9d. Quotations as under; — Buyers. Sellers.

DIVIDENDS DUE. Donaghy Eope and Twine—Final, Is 3d per share ' ... May 20 N.Z. Paper Mills—Final, 4 per cent. May 80 North Wairarapa Permanent Building and Investment So-ciety-Annual, 5 per cent. ... May 23 Westport Coal—lnterim, 6d a share ... May 28 Bank of New South Wales—lnterim, quarterly, 5s a share, Australian currency May 29 Farmers’ Trading (Auckland) — Final on A and B preference, 7 per cent. p.a. .; May 31 Stafford Dredging—6d per share ... May 31 SmitlT and Smith Ltd. (pref.)— Annual, 5 per cent June 1 Henry Jones Co-op.—lnterim, 6d a share June 1 Dominion Fertiliser—4 per cent. per annum June 4 Reserve Bank—s per cent. ... ... June 7 Bank of N.Z.—Final, 5 per cent. June 15 Broken Hill South —Is 6d a share June IS National Bank of Australasia — Annual at the rate of 5 per cent, per annum Wilson's Cement—Final, 9d a share June

FMEI6K EXCHANGE

ON NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following rates for purchases and sales of foreign exchange (all rates subject to alteration without notice)

DOLLAR RATES. The Associated Banks (other than the Bank of New South Wales) quoted the following dollar-sterling rates to-day, which are subject to alteration without notice:— U.S.A. Canada. Conversion of. dollar bills received for collection and sale of dollar- drafts and tele- . graphic transfers 4.88 4.89 Purchase of dollar bills 4,91 _ 4.92 On a New Zealand currency basis these rates are equivalent to U.S.A. Canada. SELLING— T T ... ... 3.92 3.92 J On demand I ... 3.92| 3.93* BUYING—- ■ On demand ... ••• 3.97* 3.98|

PETROL ECONOMISER SYSTEM

POSITION Of ECLIPSE COMPANY The directors of the Eclipse Petrol Economiser System Company Limited report as follows in their statement to be presented at the nineteenth annual meeting to be held in Christchurch on June 10: “ In June last Mr God ward advised the directors that he proposed to visitthe United States at his own expense to ascertain at first hand what were the prospects for marketing the! vapouriser in that country. Unfortunately he found business conditions in America so bad that progress appeared impossible, and consequently, he decided to go on to England to investigate the position there. Brig.-general Huggins was in Egypt on Government business, but at the General’s request Mr Godward visited the firm in the Midlands, which holds a sub-license for the sale of the vapouriser. It was found that this firm was steadily increasing its sales and was confident of success as numerous testimonials were being received from satisfied users. The previous difficulty in obtaining a suitable fuel oil in England has been partly overcome, as the new fuel oil, Austrol Mo. .1, specially distilled by a Manchester company for the vapouriser, ait

latest reports was comparing favourably in price with other brands and was equal in quality to the best, with the result that one large user considered he was making a saving of about 60 per cent, on fuel costs ns compared with petrol. Unfortunately, the increased use of fuel oil on motor trucks has caused the British Government, according to the recent earned report of their Budget in the newspapers, to propose an increased duty of 7d per gallon on this quality fuel when used on the roads. Whilst no advice on this point has yet been received from Mr Godward, it is anticipated that, if enforced, this drastic increase in duty (formerly it was one penny per gallon) will again act as a setback to the progress anticipated m vapouriser sales. Mr Godward ’advises that vapouriser sales for farm tractors show some definite advance. “ The accounts of the company are in a satisfactory state as disclosed by the balance sheet and profit and loss account. 'With reduced interest-in-come caused by statutory reduction of all rates of interest, Hie outgoings have been more than covered, and the actual balance in the profit and loss account shows an increase from £3O 9s 3d to £4l 9s 9d, whilst cash funds are £7,954 11s 9d.”

£ s. a. £ s. d. BANKING— Australasia 10 17 0 11 2 6 New Zealand — 2 11 3 New Zealand (Long “D”) 1 13 9 1 14 3 Commercial — 0 15 9 E.S. and A 5 0 0 — National of Australasia 12 13 0 12 15 0 Reserve 6 13 0 — Union of Australia Ltd 8 14 0 — INSURANCE— National 1 i 0 1 1 4 New Zealand 3 10 0 — Standard •3 12 0 3 13 6 SHIPPING— - P; and 0. Deferred Stock ... 1 0 0 ,1 1 0 U.S.S. Co. (pref.) ... 1 7 0 — MEAT PRESERVINGN.Z, Refrigerating (paid) 0 19 6 — N.Z. Refrigerating (cont.) ... — 0 9 2 Southland Frozen (paid) ... 3 15 6 — South Otago Freezing 6 13 0 — Waitaki Farmers’ Freezing 3 8 0 — LOAN AND AGENCYNational Mortgage ... 2 11 0 — National Mortgage (“ B ” issue) 1 11 0 — Perpetual Trustees ... 5 4 0 — Trustees, Executors £ and Agency 3 2 6 — Wright, Stephenson (ord.) 0 18 0 — Wright, Stephenson . # 0 (prof.) 0 19 9 1 6 COAL— Kaitangata 1 1 0 — Westport 1 i 6 — MISCELLANEOUS— , Associated News 1 2 0 — Australian Glass 3 2 0 — Broken Hill Proprietary — 2 15 9 Bruce Woollen Co. (ord.) — 0 13 9 Colonial Sugar Co. ... — 42 0 0 Crystal Ice Co. D.t.G. (ord.) 1 2 2 0 — 0 14 9 — Dominion Fertiliser ... 1 2 4 — Dominion Fertiliser Debs 105 0 0 — Dominion Rubber ... 1 11 0 Dunlop Perdriau Rubber 0 16 8 0 17 0 Kaiapoi Woollen (ord.) — 0 15 3 Kaiapoi Woollen (pref.) 0 18 0 — N.Z. Drug Co. 4 0 3 — N.Z. Newspapers 1 16 0 —. N.Z. Paper Mills ... 1 14 6 — Regent Theatre 0 17 0 — Smith and Smith (pref.) * Sun ’ Newspapers ... 1 1 0 -*• 0 6 2 — Wilson’s (N.Z.) Cement 1 16 0 — Woolworth’s (ord.) ... 11 0 0 BREWERIES- • New Zealand ... ... 2 14 0 2 15 3 AUSTRALIAN. MINING— Electrolytic Zinc (ord.) ... 1 5 0 1 S 3 Mount Lyell 1 0 0 1 0 6 SOLD MININGBendigo Goldlight ... 0 0 Hi 0 1 04 Big River 0 z Blackwater — 1 12 3 Charleston 0 0 6 — Gillespie’s c 1 Ji 0 1 5i Goldfields Dredging ... 0 0 4 — 6 Kildare ... c 3 3 0 3 King Solomon c 4 0 0 4 5 Lawson’s Flat ... ... — 0 0 5 Molyneux River ... 0 1 7 — Nokomai ... ... ... — 0 0 Okarito ... 0 6 3 Skippers 0 0 2 N.Z. GOVERNMENT LOANS— (Bonds quoted are £100 bonds.) 3j jj.c. Stock, 1938104 5 0 _ 3J j.c. Stock, 1939104 5 0 34 p.c. Stock, 19411943 104 5 0- — 3i p.c. Stock, 19381952 105 0 0 3j p.c. Stock, 10391952 105 0 0 *— 3J p.c. Stock, 19411952 105 0 0 4 p.c. Bonds, Jan. 15, 1940 104 5 0 — 4 p.c. Stock, Jan. 15, 1940 104 5 0 — 4 p.c. Bonds, Feb. 15; 1945 107 15 0 •— 4 p.c. Stock, Feb. 15, i946 ...... 107 15 0 4 p.c. Bonds, April 15, 1949 108 0 0 — > 4 p.c. Stock, April 15, 1949 108 0 0 — 4 p.c. Bonds, June 15, 1955 112 0. 0 — 4 p.c. Stock, June 15. 1955 112 0 0

Buying. Selling. London— £100 stg. NJZ T.T. £124 £124 10/ O.D. £123 10/ £124 7/6 Australia— £A to £100 N.Z T.T. £101 £100 10/ Fiji— £F to £100 £90 7/6 £89 N.Z. T.T. New York — Dollars to £1 3.92J N.Z T.T. 3.961 O.D. 5,97£, 3.92| Montreal — Dollars to £1 3.964 3.92| N.Z T.T. O.D. 3.97J 3.924 France — Francs to £1 60.74 59.44 N.Z T.T. O.D. 61.04 59.49 Noumea— 61.69 58.69 N.Z. ... ... T.T. O.D. 62.09 58.74 Papeete— 61.69 58.69 N.Z T.T. O.D. 62.09 58.74 Belgium— Belgas to £1 N.Z. ... . T.T. 23.079 O.D. — 25.094 Germany— £1 Jteichmarks to N.Z T.T. O.D. . 9.633 9.638 Italy— Lite to £1 N.Z T.T. O.D, - 48.17 48.21 Switzerland — Francs td £1 N.Z. ... ... T.T. 12.470 12.070 O.D. 12.545 12.080 Holland— Florins to £1 N.Z T.T. 5.982 5.732 O.D. 6.032 5.736 Java— 5.931 5.706 N 7t T.T. O.D. 5.981 5.710 •Japan— N.Z pence to yen 1 T.T. - 17 13-16 Shanghai— N.Z. pence to dollar ... . 1 T.T. 24 7-16 25 3-4 O.D. 24 5-16 25 11-16 ■India and Ceylon I— N.Z. pane© to rupee I T.T. O.D. 22| m 22 23-32 22 21-32 Hongkong— N.Z. pence to dollar 1 T.T. 36 3-8 37 7-16 O.D. 36 1-4 37 3-8 Sweden— ■ 15.790 15.460 N.Z. ... ... T.T. O.D. 15.830 15.470 Norway— 16.200 15.870 N.Z T.T. O.D. 16.240 15.880 Denmark — 18.208 17.878 N.Z T.T. O.D. 18.248 17.888 Austria— / Schillings to £1 T.T. 520.43 N.Z — O.D. — 20.45 Czechoslovakia — Crowns to £1 93.40 N.Z. ... ... T.T. *— O.D. — _ .93.45