Commerce, Mining, & Finance

Evening Star, Issue 22354, 2 June 1936, Page 7

Commerce, Mining, & Finance

THE SHARE MARKET DUNEDIN STOCK EXCHANGE BMKEN HILL PROPRIETARY'S RISE SHARPLY Market prices of Broken Hill Proprietary shares experienced a sharp rise on the Stock Exchange this meaning when a parcel changed hands at 67s with further buyers at 66s and no seller under 68s. . Yesterday these shares were for sale at 655, with 64s the best buying offer. Buyers also advanced their offer for the contributing issue by 2s 6d without revealing a seller. The rise in the local market follows a sharp rise in Australia yesterday. Business recorded in other issues this morning showed that investors are .continuing to favour securities, the chief attraction being the greater possibility of capital appreciation than is the case with New Zealand securities which have a definitely restricted market compared with many Australian issues. Banking shares again received little attention, Commercials providing the only buyer. In the insurance section, Nationals appeared to be firmer, both buyers and sellers increasing their limits. Meat shares continued to reveal a tendency to harden, both issues of Refrigeratings being in demand without attracting a selling offer. Waitakis, in strong demand at £4, had a wide market, sellers asking £4 6s, There were only minor changes in the quotations for miscellaneous issues, but amongst unlisted stocks Wcolworths (Sydney) ordinaries appeared a little easier, reported business at £5 15s being followed by a buyer at £5 13s and a seller at £5 15* fid. N New Zealand Breweries showed improvement, sellers requiring 6d more than yesterday, when buyers offered up to 53s fid. Government Loans maintained strong support frem buyers, although sellers came on the market for quite a number of issues. Prices remained firm. SALES REPORTED. Woolworths (Sydney),’ £5 15s. Mount Lyell, £1 4s 6d. Argo Gold, la 6d. SALE ON CHANGE. Broken Hill Proprietary, £3 7s.

DIVIDENDS DUE Regent Theatre 4- 4-5 d a share June 2 N.Z. Breweries Half-yearly, 7j per cent, p.a., 9 3-5 d a share ... |Jnne 11 Dunedin Stock Exchange Proprietary—Final, Is a share June 8 Trustees, Executors —Final, 5 per cent., making 8 per cent, for year June 10 Bank of N.Z..—Final, Is a share, or 10 p.c. p.a. June 12 Broken Hill South —2s 6d a share June 13 British Tobacco —11 p.c Juno 13 Oamaru Woollen Mills Halfyearly, Zi per cent., 6d a share June 15 Mortgage Corporation 4ir per cent, per annum June 15 Gisborne Gas—3d per share ... June 17 Hume Steel —Half-yearly pref., at 7i per cent, per annum ...■ ... June 20 Claude Neon Lights—Half-yearly, 8 per cent, p.a., 9 3-5 d a share June 21 Mount Lyell Half-yearly, 5 per cent. 6d a share ... June 22 Farmers* Trading Co., Auckland —Final, ord., 5 peii cent. ... June 25 Morris, Hedstrom Final 2j per cent., making 5 per cent, per annum June 30 Tooth’s Brewery—lo per cent., Is a share ... ... Australian Glass —Final, 4j per per cent, pref., 10 per cent, prd National Mortgage —5 p.c. p.a., ... July 1 Zinc Corporation —2s July 1 FOREIGN EXCHANGE •N NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following rates (to-day) for purchase and sales of foreign exchanges (all rates subject to alteration without

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: — XJ.SA. CANADA. (Per £1 N.Z.) (Per £1 N.Z.) SELLING- ' T.T. (dol.) 4.00 J 4.01 O.D. (dol.) 4.00 J 4.01 i BUYING— O.D. (dol.) ... 4.055 4.06 FREEZING AWARD SOUGHT [Per United Press Association.] CHRISTCHURCH, June 1. The decision to form a South Island freezing workers’ union and to unite with the North Island freezing workers in claiming a Dominion award was reached at a conference of representatives of workers held here during Friday. Saturday, and Sunday. Delegates were present from Picton to Bluff, and one delegate represented the freezing workers of the North Island. It was estimated that 5.000 workers were represented. The proposals to /fie made for a claim to a Dominion award include a 40-hour week and wages at the 1931-32 rates.

AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyright SYDNEY, June 1. On the Stock Exchange leading industrials met a strong market, and Broken Hill Proprietary scrip advanced

THE SEARCH FOR GOLD V/AIPAPA BEACH RETURN Messrs \V. A. Mitson and Co., secretaries of the Waipapa Beach Gold Dredging Company Ltd., report that advice has been received from the dredpemaster stating that 41oz were won for 127 hours’ dredging. WAITAHU RETURN Messrs W. A. Mitson and Co., secretaries of the Waitahu Gold Mining Company Ltd., report receipt of advice of a wash-up of 30oz lodwt for eight days’ elevating. i - -- - - MATAXI RETURN [Per United Press Association.! AUCKLAND, June 1. The Mataki return for the week ended May 31 was 38oz for 135 hours’ work (9,oooyds).

, Quotations as under: Buyers. Seilers. £ 8. d. £ t. d. BANKING— New South Wales ... — 33 5 0 New Zealand — 2 6 0 New Zealand, Long “D” — 1 10 0 Commercial 0 19 1 0 19 6 National of New Zealand 3 15 .0 Union of Australia Ltd, — 9 16 0 INSURANCE— National 0 17 9 0 18 0 New Zealand 3 i 0 — Standard “ 3 3 6 SHIPPING— Howard Smith — 0 19 9 Huddart, Parker (ord.) — 1 IS 9 P. and 0. Deferred Stock 1 3 9 U.S.S. Co. (pref.) ... 1 6 Oex _L MEAT PRESERVING— N.Z. Refrigerating (paid) 0 19 3 —- N.Z Refrigerating 9 (cont.) 0 2 — Southland Prozen (paid) — 3 17 6 Southland Frozen (cont.) ... — 1 19 0 Southland Frozen (pref.) — 3 17 6 Waitaki Farmers’ Freezing 4 0 0 4 6 0 LOAN AND AGENCY— Dalgety Goldsbrough, Mort 1 12 0 9 3 0 National Mortgage ... — 2 12 0 N.Z. Loan and Mercantile (ord.)’ 30 0 0 — N.Z. Guarantee Corp. — 0 5 6 Wright, Stephenson (pref.) ' — 1 0 0 COAL— Kaitangata __ 1 4 6 Westport 1 1 6 1 2 3 WOOLLEN COMPANIES— Bruce (crd.) 0 13 3 0 14 6 Bruce (pref.) — 1 4 0 Oamaiu 1 0 0 — Wellington (ord.) 6 4 0 — MISCELLANEOUSAnthony Hordern ... 0 18 6 — Associated News 1 2 0 1 3 0 British Tobacco 2 0 6 — Broken Hill Proprietarv 3 6 0 3 8 0 Broken Hill Proprietarv (cont.) ... 2 2 6 — Brown, Ewing (ord.) 0 15 0 — Brown, Ewing (pref.) 1 2 0 — Colonial Sugar Co. — 42 0 0 D.I.C. (pre£) 1 3 3 . Dominion Fertiliser 1 4 0 1 5 0 Dominion Fertiliser Debs. 105 10 0 — Dominion Rubber ... — 1 8 6 Dunedin Stock Ex. change Proprietary 2 0 0 — • Dunlop Perdriau Rubber 0 17 6 0 18 0 G. J. Coles 3 19 0 4 0 0 Kauri Timber 1 3 9 Milburn Lime and Cement 2 2 0 ITLeod Bros, (rights) 15 0 0 National Electric 0 12 6 N.Z. Drug Co. 3 19 6 4 1 0 N.Z; Paper Mills ... — 1 9 9 ‘ Otago Daily Times ’ — 2 10 0 Regent Theatre — 1 1 0 BREWERIES— New Zealand 2 13 8 2 14 6 UNLISTED STOCKS— MTntosh, Calev, Phoenix 0 9 0 0 11 0 Woolworths (Sydney, ord.) ... 5 13 0 5 15 6 AUSTRALIAN MINING _ Electso. Zinc, (ord,. £D1 16 9 — Mount Lyel! (£1) ... 1 4 3 1 4 8 Mount Morgan (2s 6d) 0 14 3 0 14 9 GOLD MINING— Argo Dredging (Is) ... 0 1 5 — Big River (Is) .0 1 10 0 2 2 Clutha River (2s) ... *0 2 0 — Gillespie’s (Is) 0 1 0 0 1 2 King Solomon (Is) ... Lawson’s Flat (Is) ... — 0 2 5 — 0 0 b Molyneux River (2s) 0 1 10 0 2 b Mount David (5s) ... — 0 1 0 Nokomai (5s) 0 2 2 0 2 7 Okarito (5s) 0 3 0 .0 4 0 Paddy’s Point (5s) . 0 2 i 0 4 0 Skippers (Is) 0 0 0 6 Waitahu f (5s) 0 2 3 0 2 9 N.Z. GOVERNMENT LOANS(Bonds quoted are £100 Bonds.) 3i p.c. Stock, Nov., 1938-52 102 0 0 102 15 U

5j- p.c. Stock, 1939-43 March, 102 0 0 34 p.c. Stock, j.939-43 Sept.’," 102 0 0 . 34 p.c. Stock, 1939-52 .. May, 102 0 0 . 34 p.c. Stock, 1941-43 March, 102 0 0 __ 34 p.c. Stock 19U-43 Sept., 102 0 0 _ 34 p.c. Stock 1941-52 .. May, 102 0 0 _ 34 p.c Stock, 1941-52 .. Nov., 102 0 0 4 p.c. Bonds, 1937-40 ’ 102 10 0 — 4 p.c. Slock, 1937-40 102 5 0 103 0 0 4 p.c. Bonds, 1943-46 104 0 0 — 4 p.c. Stock, 1943-46 104 0 0 — 4 p.c. Bonds, 1946-49 104 0 0 105 0 0 4 p.c. Stock, 1946-49 — 104 10 0 4 p.c. Bonds, 1952-55 — 107 0 0 4 p.c. Stock, 1952-55 — 106 10 0

notice):— Selling. Buying. London— £100 stg. £124 10/ N.Z T.T. £124 O.D. £123 10/ £124 8/9 Australia — £A to £100. £100 10/ N.Z T.T. £101 Fiji— £F to £100 N.Z T.T. £90 7/6 £89 New York — Dollar to £1 N.Z ... T.T. 4.0+ 4.00g O.D. 4.05* 4.00| Montreal— Dollar to £1 N.Z ... T.T. 4.04* 4.01i O.D. 4.06 4.01* Austria — , Schillings to £1 N.Z T.T. 20.97 O.D. — 20.99 Belgium— Belgas to £1 23.S19 N.Z T.T. — O.D. — 23.630 Czechoslovakia— Crowns to £1 96.02 N.Z T.T. — O.D. — 96.07 Denmark— Kroner tc £1 N.Z . T.T 18.203 17.893 O.D. 18.263 17.903 France — Francs to £1 60.73 N.Z T.T. — O.D. — 60.77 Germany— Reichmarks to £1 N.Z. T.T. — 9.902 O.D. 9.907 Holland— Florins to £1 . N.Z T.T. — 5.897 O.D. — 5.901 JavaFlorins to £1 N.Z T.T. — 5.858 O.D. — 5.862 Norway— Kroner to £1 15.893 N.Z / . T.T. 16.183 O.D. 16.243 15.903 Sweden — Kroner to £1 15.487 N.Z . T.T. 15.782 O.D. 15.842 15.497 Switzerland— Francs to £1 N.Z T.T. — 12.347 O.D. — 12.352 Noumea— Francs to £1 59.36 N.Z T.T. — O.D. —- 59.42 Papeete— : Francs to £1 59.51 N.Z . ' .. T.T, — O.D. — 59.57 Hongkong— N.Z. pence to 1 18 35-64 20 3-64 dollar T.T. O.D. 18 29-64 20 1-64 India, and CeylonN.Z. pence to 1 22 9-64 22 57-64 rupee T.T. O.D. 22 3-64 22* Japan— N.Z. pence to 1 yen T.T. O.D. - 17 45-64 17 11-16 Shanghai— N.Z. pence to 1 dollar T.T. 17 3-16 18 9-16 O.D. 17 18 35-64 Singapore — N.Z. pence to 1 dollar ••• T.T. 34 27-64 35 31-64 s O.D. 34 15-64 35 15-32

to a new high, record level. £ s. d. Colonial Sugar 42 0 0 Bank of New South Wales 33 0 0 Associated News ... 1 ’2 U 1 3 4* Howard Smith 0 18 10* British Tobacco 2 1 9 Tooths 2 12 6 Tooheys ...' 1 11 3 6 Carlton 2 17 Coles 4 0 9 Dunlop Perdriau ... 0 18 0 Mofflins 0 11 9 Lustre _ 1 5 3 General Industries 0 19 Mount Morgan 0 14 7 Broken Hill Proprietary ... 3 7 0 Broken Hill Pty. (new issue) 2 3 4 Broken Hill South 5 13 0 Rawnng 0 9 0 Rtedman 0 18 0 Woolworths (second pref.) 1 6 6 Koroere 0 4 10 Mineral Development n 1 1 Emperor _ 0 12 9 Mount Kasi ... 0 11 0 MELBOURNE, June 1. National Bank (£5 paid) ... 7 6 n Dunlop Perdriau n 18 3 ‘ Herald and Weekly Times ’ 3 8 9