Commerce, Mining, & Finance

Evening Star, Issue 22192, 21 November 1935, Page 17

Commerce, Mining, & Finance

FOREIGN EXCHANGE «N NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following rates for purchase and •ales 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 rates to-day on a New Zealand currency basis. They are subject to alteration without notice: — , U.S.A. CANADA. (Per £1 N.Z.) (Per £1 N.Z.) SELLING— T.T. (dol) 3.94| 3.98* O.D. (dol) 3.94| 3.99* ' BUYING— „ „, 7 O.D. (dol) 3.99 i 4.03 J CANADIAN WHEAT BOARD yPress Association —By Telegraph—Copyright OTTAWA, November 19. There-ai’e indications that the _ Canadian Wheat Board will be continued under the King Government at least for a year, and that Mr John I. M‘Farland will be requested to continue the chairmanship. ! METAL MARKET Press Association—By Telegraph—Copyright LONDON, November 19. The following are the official metal quotations:— Copper.—Standard, £35 8s 1 4 cl per ton; forward, £35 ,16s 3d. Electrolytic.—Spot, £39 os; forward. Wire bars, £39 15s. Lead.—Spot, £18; forward, £lB.. Spelter.—Spot, £l6 2s 6d; forward, £l6 ss. Tin.—Spot, £228 15s; forward, £213 7s 6d. Pig Iron.—Home trade, £3 10s; export, £3 Is 6d. Antimony.—British, £79 10s; for- . •ign, £54 15s. Molybdenite, £1 14s 6d per unit. Wolfram, £1 14s 6d. Silver.—Standard, 29. 5-16 d per oz; ine 31 5-Bd. TOOTH AND GO. BONUS AND SHARE ISSUE Press Association—By Telegraph—Copyright SYDNEY, November 20. To mark the centenary of Tooth and Co. the directors have decided to recommend to shareholders the payment of a cash bonus of 2* per cent, and an issue of shares at par of £1 caoh to shareholders in the proportion or one new share for every 10 shares held at March 3. 1936.

AN IMPROVEMENT SHOWN WELLINGTON PUBLISHING COMPANY A further improvement is recorded in the accounts of the Wellington Publishing Company Ltd., publisher of the ‘ Dominion,’ for tho year ended September 30. The year closed with a working. profit of £13,513, and a dividend of 41 per cent, is proposed. In their report the directors state: “ The last year’s operations have again shown improvement compared with the previous year, the working profit being £13,513 4s. The net result added to the amount brought forward from last year makes a total of £13,861 14s Id available for disposal. “The directors recommend the payment of a dividend at the rate of 4J per cent, per annum, which will absorb £6,651 18s 3d, leaving a credit balance of £7,209 15s lOd to be carried forward. PRICE OF GOLD Press Association—By Telegraph—Copyright LONDON, November 20. (Received November 21, at noon.) , The price of gold is quoted £7 Is 4Jd per oz. DOLLAR AND FRANC Press Association—By Telegraph—Copyright LONDON, November 20. (Received November 21, at noon.) The dollar is quoted at 4.92 7-16 and the franc at 74 1-16. ADDINGTON STOCK SALE [Pek United Press Association.] CHRISTCHURCH, November 20. There were large entries at the Addington market to-day in the fat cattle, fat sheep, and spring lamb sections, with the result that there was an easing in values. Other sections maintained recent values. . , , , Store Sheep.—The entry included Chatham Island Romney cross wethers which sold at from 20s to 225. Best ewes and lambs made to 15s 3d. All counted the wether and hogget market was better by Is to Is 6d. Spring lambs sold at from 8d to BJd per lb. Fat Sheep.—Four thousand five hundred were penned. Wethers were easier by Is 6d to 2s, and ewes by Is. Passings were frequent at the end of the sale. Extra prime heavy wethers made to 29s 4d: prime heavy, 22s 6d to 255; prime medium-weight, 20s 6d to 225; ordinary. 19s to 20s; extra prime heavy ewes, to 28s 4d: prime heavy, 20s 6d to 225: prime medium-weight, 18s to 20s; ordinarv. to 17s 9d. . Fat Cattle. —Five hundred and sixty were penned. There was a drop in price, of 3s per 1001 b. Best beef brought 31s 6d to 335; good, 29s to 31s; ordinary, 24s to 28s extra prime heavy steers, to £ls 17s 6d; prime heavy, £ll 15s to £l4 os; prime medium-weight, £lO 12s 6d to £l2 10s; light and ordinary, £7 5s to £10; extra prime heifers, to £l2 2s 6d; prime, £8 to £9 15s; ordinary, £6 to £7 10s; extra prime cows, to £lO 12s 6d; prime, £7 10s to £8 15s; ordinary, £6 to £7 ss. Fat Pigs.—There was a slightly improved demand, export buyers operating. Choppers brought 30s to £4; baconers, 45s to 52s 6d; heavy. 57s 6d to £3 6s 6d (average price per lb, 4id to sd); porkers, 28s to 41s 6d (average price per lb, 5Ja to 6d). CHRISTCHURCH PRESS COMPANY PAST YEAR'S OPERATIONS The balance sheet of the Christchurch Press Company Ltd. for the year ended October 31 shows a balance to the credit of profit and loss of £3,695 8s 3d. Tho directors recommend the payment of a dividend of 3 per cent, for the half-year. The capital of the company is £200,000, of which shares for £68,900 have not been issued. The reserve fund is £48,000. Among the assets are land and_ buildings, £64,834; plant, motor vehicles, etc., £28,849; stocks, £10,411; Government stock and other investments, £14,170. COLOMBO TEA SALE Mr L. M. Wright has received the following cabled report (hi the Colombo tea auction of November 19: — Common kinds of tea came to a slightly dearer market, while medium and fine teas declined slightly following inferior quality of offerings. Next week’s catalogue is for 2,600,0001 b. THE SEARCH FOR GOLD BIG RIVER MINES The following is the gold return of the Big River Gold Mines Ltd. for October: — In the battery department 184 tons of ore were crushed for 102 oz 17dwt ol melted gold, and in the cyanide department 120 tons of sands were treated for 21oz Bdwb bullion, the total estimated value being £865. In addition, five tons 7cwt of concentrates have been saved, valued at £l2O. In estimating the values, gold has been taken at 145 s per fine ounce. 7 NEW BENDIGO COMPANY The mine manager of the New Bendigo Gold Mining Company Ltd. advises that the low-level adit was driven a further 30ft for last- week, making a distance of 903 ft completed by the present contractors. BENDIGO GOLDLIGHT DREDGE The dredgemaster of the Bendigo Goldlight Dredge advises that he lias washed up a return of Coz lldwt. This is the result of a few. hours’ dredging last week in the top wash material before the dredge was stopped with a broken friction wheel.

STOCK ANT SHAREBROKERS, BULLETIN. WE OFFER. SUBJECT TO SALE OR WITHDRAWAL:—

WE HAVE BUYERS FOR;— 100 Bank of New Zealand. 100 N.Z. Breweries. 20 Dalgeiy and Co. 50 Associated Motorists’ Petrol Co. Ltd. 200 Dunlop Perdriau. 100 Australian Iron and Steel Pref. 200 Mount Lyells. 100 Quartz Mountain (Papua). 1,000 Central Shotover. 4 Afforestation Ltd. Shares. 6 N.Z. Perpetual Forest Bends (any issue). THE SECURITIES CORPORATION (N.Z.) LIMITED, ALLIANCE ASSURANCE BUILDING, 20 CRAWFORD STREET. DUNEDIN. Telephone 11-777 (3 lines). Telegrams: “ Tosco!.’

AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyright SYDNEY, November 20. On the Stock Exchange the investment market was firm. The gilt-edged section was strong and values of most Commonwealth loans are improving. Broken Hill Proprietary touched a new high point since the announcement of the new capital issue and oilier leading industrial shares were well supported.

SYDNEY WOOL SALES MARKET VERY FIRM Press Association —By Telegraph—Copyright SYDNEY, November 20. • At- the wool sales 13,209 bales were offered and 12,773 sold, while 2,054 were disposed of privately. There was strong general competition, and the market was exceedingly firm at late levels, with a particularly strong demand for finer grades of come-backs and cross-breds. Greasy merino sold to 25jd. DIVIDENDS DUE Perpetual Trustees—lnterim, Is a share Nov. 25 Westport Coal—Final, 6d per share Nov. 25 National Bank of Australasia—interim at 5 per cent, per annum Nov. 27 Broken Hill Propty.—lnt., per cent Nov. 27 Dalgety and Co.—Final, 5 per cent, p.a., 2s 6d a share ... Nov. 28 Wilson’s Cement—lnterim, 9d a share Nov. 28 E.S. and' A. Bank —Final, 2j per cent. .j. ... i.. ■ Nov. 28 North Wairarapa Building Society —lnterim, 2j- per cent Nov. 28 Leyland-O’Brien Timber—s p.c. per annum Nov. 28 Farmers’ Trading Co., Auckland —interim A and B pref., at 7 per cent, per annum, and C pref. at 5 per cent, per annum, all less 20 per cent. ... Nov. 30 Kauri Timber—s per cent Dec. C. L. limes—prof, and ord., 8 per cent., also pref. arrears ... Dec. I Henry Jones Co-operative—ls 3d per share Dec. 1 Swan Brewery—ord., 2s and bonus 6d and pref. at 6 pe.r cent, per annum - Dec. 4 Bank of N.Z.—interim, ord., Is" ■ a share; D mortgage, 3* per cent. Dec. 7 North Broken Hill—2s 6d a share and bonus Is a share Dec. 12 Mount Lyell—Final, 2) per cent. p.a., 6d a share Dec. 16 Broken Hill South —Is 6d a share and bonus Is a share ... ... Dec. 19 Placer Development—lnterim, 50 cents (Can.) a share Dec. 20 Bulolo Gold —Interim, Idol 40 cents (Can.) n share Dee. 20 Morris,, Hedstrom—lnterim, ord., 2) per cent Doc. 31 Claude Noon Ltd., Sydney—ls per cent., payable as to 71 per cent (and payable as lo 71 per ce.nl., January 1) Jan. 1

London — Buying. Selling. £100 stg. N.Z T.T. £124 £124 10/ O.D. £123 10/ £124 8/9 Australia — £A to £100 N.Z T.T. £101 £100 10/ Fiji— £F to £100 N.Z T.T. £90 7/6 £89 ' Kew York— Dollars to £1 N.Z . T.T. 3.98i 3.94* O.D. 3.99* 3.94| Montreal — Dollars to £1 N.Z . T.T. 4.02i 3.98* O.D. 4.03* 3.99 France — Francs to £1 , N.Z . T.T. 60.71 59.41 O.D. 61.01 59.46 Noumea — 81.66 58.66 N.Z. . T.T. O.D. 62.06 58.71 Papeete— 61.66 58.66 N.Z . T.T. O.D. 62.06 58.71 Belgium— Belgas to £1 N.Z . T.T. 23.091 O.D. — 23.106 Germany— Reiciimarks to £1 9.630 N.Z. ..., ... . T.T. — -- O.D. • 9.635 Switzerland — 12.399 11.999 N.Z . T.T O.D. 12.474 12.009 Holland— 5.962 5.712 N.Z .. T.T O.D 6.012 5.716 Java — 5.907 5.682 N.Z. ... ... .. T.T O.D. 5.957 5.686 Japan — N.Z. pence to yen ... ... 1 . T.T. 17 19-32 O.D. — 17 37-64 Shanghai — N.Z. pence to dollar 1 T.T. 17 13-32 18 23-32 O.D. 17 9-32 18 21-32 India and Ceylon— N.Z. pence to rupee I tA 22* 22 23-32 O.D. 22* 22 21-32 Hongkong— N.Z. pence to 1 T.T. 21 13-32 22 15-32 O.D. 21 9-32 22 13-32 Singapore — N.Z. pence to dollar 1 T.T. 34 i 54i 35 5-16 O.D. 35* Sweden — 15.790 15.450 N.Z T.T. O.D 15.830 15.470 Norway — 15.870 n.z ;. . T.T. 16.200 O.D. 16.240 15.880 Denmark — 17.878 N.Z . T.T. 18,208 O.D. 18.248 17.838 Austria — Schilling to £1 N.Z T.T. 20.53 O.D. — 20.65 Czechoslovakia— Crowns to £1 95.09 N.Z . T.T. — O.D. ' 95.14

£ s. d. 20 Union Banks 9 10 0 10 E.S. and A. Banks 5 11 0 100 Bank of N.Z. (Long D) ... 1 14 0 100 N.Z. Refrigerating (paicU 12 3 100 .N.Z. Refrigerating (coni.) 250 Commercial Bank of Aus0 10 10 tralia 0 16 11 50 Mortgage Corporation 0 5 8 1,000 Skippers ... ... 0 0 3J 1,000 Bendigo Goldlight 0 0 4

AFTERNOON SALES. £ S. d. Commonwealth Bonds— 4 p.c., 1938 103 12 6 4 p.c., 1941 101 12 6 4 p.c., 1944 102 7 6 4 p.c., 1947 103 0 0 4 p.c., 1950 ... 104 0 0 4 p.c., 1955 ..( 104 5 0 4 p.c., 1957 102 13 9 4. p.c., 1959 103 7 6 4 p.c.. 1961 103 12 6 Colonial Sugar ... 42 15 0 Bank of New South Wales 33 7 6 Associated News 1 5 0 Associated News (pref.) ... 1 4 3 Automatic Totes (pref.) ... 1 5 0 Australian Gas A 7 16 0 Australian Glass 4 5 0 Tooth’s ... 2 19 0 Drug Houses of Australia 1 8 0 Dunlop Perdriau 0 16 6 Morris, Hedstrom 1 6 0 Greater J. D. Williams ... 0 7 0 David Jones 2 3 6 Anthony Hordern ... 0 19 6 Standard Cement ... ... 1 'I 6 General Industries 1 0 Mount Morgan Development 0 2 8 Broken Hill Proprietary ... 2 19 9 Broken Hill Proprietary (first instalment paid) ... 1 9 0 South Broken Hill 5 10 6 Zinc Corporation 3 10 0 .Kuala Kam par 0 15 3 RawangTin 0 9 1 Malim Nawar 0 15 7 i Koroere 0 13 0 Tavua Development 0 .5 11 Tongkah Harbour i ... 1 2 9 Placer Development .... ... 5 5 0 Mount Kasi (ex rights) ... 0 15 4* MELBOURNE, November 20. Commercial Bank of Australia (pref.) 9 16 0 E.S. and A. Bank 5 10 0 British Tobacco 2 0 6 Australian Iron and Steel (pref.) ... ... 1 5 3 North Broken Hill 8 13 0 Zinc Corporation ’3 9 9 Electrolytic Zinc 1 lo 1U1 Electrolytic Zinc (pref.) ... 1 19 4£ Mount Lyell 1 1 7 2 Mount Morgan 1 18 0 Tongkah Harbour 1 2 6 Emperor ••• 1 0 0 Loloma 1 u 6