LATE COMMERCIAL

Evening Star, Issue 22577, 19 February 1937, Page 12

LATE COMMERCIAL

‘ PRICE OF GOLD. Press Association—By Telegraph—Copyright LONDON, February 18. (Received February 19,’ at 1.15 p.m.) Fine gold is quoted at £7 2s Ijd per ounce. DOLLAR AND FRANC. Press Association—By Telegraph—Copyright LONDON, February 18. (Received February 19, at 1.15 p.m.) The dollar is quoted at 4.89|. The • franc' is quoted at 105 J. BUTTER AND CHEESE. Press Association—By Telegraph—Copyright , LONDON, February 18. (Received February 19, at 1,p.m.) Butter' is lifeless. Danish, 116 s. Nominal prices for choicest salted Australian and New Zealand, 84s. Unsalted : New Zealand, 925; Australian, 90s to 91s; _ Cheese: New Zealand, white 525, coloured 51s 6d; Australian, scarcely offering SYDNEY STOCK EXCHANGE. Press Association—By Telegraph—Copyright SYDNEY,, February 19. ; (Received February 19, at 2 p.m.) Bonds : 4 per "cent. (1957), £IOO 2s 6d. ; Shares: Commercial Bank of Australia, 19s 9d; Tooths, 57s 6dl; Anthony Hordern .(pref.), 235; Associated News, 24s 3d; British Tobacco, 53s Gd; .David Jones, 455; Drug Houses (New Zealand delivery), 28s 3d; _ Dunlop Perdriau, 19s 4Jd; Electrolytic Zinc. :60s; General Industries, 20s 6d; Coles, £5 8s 6d; J. nStedman, 17s 9d. ■ BEET SUGAR, ' Press Association—By Telegraph—Copyright LONDON, February 18. (Received February 19, at 2 p.m.) Beet sugar, 6s lid. . WHEAT, FLOUR, ETC. Press Association—By Telegraph—Copyright LONDON, February 18. (Received February 19, at 12.30 p.m.) Wheat cargoes are steady. Parcels are quiet. Futures: —London: March, 45s Id; May, 45s Oid. Liverpool: March, 8s 4fd; May, 8s 6|d; July, 8s BJd. The spot trade is quiet. Australian, ex ship, 45s 6d. Flour is' dull. , Australian, ex store, 32s 3d to 335. , ' Chicago futures: May, 135 f cents per bushel; July, 119 id; September, , BRADFORD MARKET. Press Association —By Telegraph—Copyright LONDON, February 18. (Received February 19, at 12.40 p.m.) Bradford tops:—Merinos 70’s, 38d; 64’s, 36d; '6o’s, 35d. Cross-breds: 58’s, 31d; 56’s, 28d; 50’s, 24d; 46’s, 23d; 44’s, 23d. The market is nominal, with a firm upward tendency, and more inquiry. Top-makers’ resistance pgainst a lower bid-is restricting business. Consumption is good. FOREIGN EXCHANGES. (British Official Wireless.) Press Association—By Telegraph—Copyright RUGBY, February 18. ■ (Received February 19, at noon.) The following are the mean closing rates:— • / Paris, franc to £1 105 7-64 New York, dollar to £1 ... ... 4.89 9-16 Montreal, dollar to £1 4.89| Brussels, belgas to £1 29.02^ Geneva, francs to £1 ... 21.45| Amsterdam, florin to £1 8.943. Milan, lire to £1 931-3 Berlin, reichmarken to £1 ... 12.16Jt Stockholm, kroner to £1 ... ... 3 9.39 Jf Copenhagen, kronen to £1 ... ■ 1.. 22.40 Oslo, kroner to £1 ... 19.90 Vienna, schillings to £1 26i ‘ Prague, crowns to £1 140| Helsingfors, marks to £1 226 i Madrid, pesetas to £1 93 11-32 Lisbon,, escudo to £1 110 3-16 Athens,' drachmae to £1 547£ Bucharest, lei to £1 670 Belgrade, ’ dinars to £1 213 Warsaw, roubles to £1 ... ... 25.84 •Rio.de Janeiro, pence to milreas 4i Buenos Aires, pence to dollar ... •Montevideo, pence to dollar ... 39J Bombay, pence to rupee 18 9-64 Shanghai, pence to dollar 14 17-32 J Hongkong, pence to dollar ... 1415-64 Yokohama, pence to yen 14 Batavia, florin to £1 9.1 •Sellers. MOUNT MORGAN’S NEW PLANT. Mount Morgan Limited reports that the now oxidised ore plant is working very satisfactorily and is now in full production,—Wellington Press Association. NATIONAL MORTGAGE COMPANY. DIVIDEND AND BONUS. Press Association —By Telegraph—Copyright LONDON, February 18. (Received February 19, at 10 a.m.) The . National Mortgage and Agency Company of New Zealand’s net profit was £21,143. A dividend of 5 per cent, and a bonus of 1J was declared. Brought forward £15,409. The directors emphasise that the bonus applies to the year under review, and must not be taken as an indication of increased distributions in the future. MOUNT MORGAN. NEW ISSUE OF SHARES. The Dunedin Stock Exchange has been notified with regard) to the ■hew issue o.f Mount Morgan Ltd. shares that tenders have been received for the purchase of 417,216 shares, this being 297,216 in excess of issue. Tenders from 15s Hid to 17s 6d have been accepted in full, and a proportion of those at 15s 9d. The average price is 16s 2id a share. Successful tenderers have, been allotted their -shares and will receive the usual notification with a notice of a call payable on March 20.

LONDON STOCK EXCHANGE. Press Association—By Telegraph—Copyright LONDON, February 18. (Received February 19, at 1 p.m.) ■ The following are the latest quotations of Government securities: —

BANK OP ENGLAND RETURN. : Press Association—By ’ Telegraph—Copyright LONDON, February 18. (Received February 19, at 1 p.m.) The following is the Bank of England return:— ISSUE .DEPARTMENT.

Rate of reserves to liabilities is 40.12 per cent. The Bank of England discount rate remains unchanged at 2 per cent, NEW GUINEA GOLD. • Press Association—By Telegraph—Copyright LONDON, February 18. (Received February 19, at 2 p.m.) New 'Guinea gold shares are 'quoted at 3s. ' ' ' MOUNT LYELL SHARES, Press Association—By Telegraph—Copyright LONDON, February 18. (Received February 19, at noon.) Mount Lyell shares are quoted at 40s IJd. THE METAL MARKET. Press Association—By Telegraph—Copyright LONDON, February 18. (Received February 19, at noon.) The following are the official metal quotations:— Copper.—Standard, £59-18s per ton: forward, £59 18s l£d. Electrolytic.—Spot, £66: forward, £66. , , . Wire bars, £66. Lead.—Forward, £28,12s 6d: spot, £2B 12s 6cl. ' . Spelter.—Spot, £27 ,1s 3d.; forward, £27 13s 9d. Tin.—Spot, . £234 2s 6d;. forward, £234 17s 6d v Silver.—Fine, 20Jd per . ounce; standard, 21 11-16 d.

SALES ON ’CHANGE: THIS DAY, Christchurch.—Commercial Bank of Australia, 19s 4d; E.S.- and A. Bank, £6 8s 6d; Goldsborough Mort, 37s lid; New Zealand Refrigerating (cum. div., 10s paid), 9s 2d (3); Australian■ Glass, 945; Broken Hill Proprietary,, ,85s 4d (2), 85s 6d, 85s 4d (2); Electrolytic Zinc (ord., cum. div.), 57s 9d (4); Electrolytic Zinc (pref., cum. div.), 59s 6d (5) ; G. J. Coles, £5 7s 9d (7) ; Hume Pipe (Australia), 21s sd; Mort’s Dock, 14s 4d (5); Woolworths (New Zealand, ord.), £7 7s; Mount Lyell,49s 3d (3), 49s 4d, 49s lOd, ;49s Bd, 49s 9d, 49s lid, 49s 9d, 49s 6d; Mount Morgan, 17s. • Reported: - British Tobacco, 52s 9d. Unlisted: Alloy Steel (Australia), 21s 6d; Woolworths (Sydney, ord.), £8 7s (2), £8 6s 9d (4). Reported: Woolworths (Sydney, ord.), £8 8s 6d, £8 Bs. Wellington.—Bank of New Zealand, £2 Is, £2 Is 3d; New Zealand Refrigerating, 9s 2d; Broken Hill, £4 5s 3d, £4 5s 6d; Woolworths (N.Z.), £7 ss; Mount Lyell, £2 10s, £2 9s 9d; Taupo Totara, 9s 3d; Tooth’s Brewery, 47s 3d; Colonial Sugar, £43; Electrolytic Zinc (ord.), 57s 9d; (pref) 59s 9d; Coles, £5 7s 6d; Taranaki Oil, 2s lOd; Selfndges (N.Z., 4s paid), 5s 9d; Woolworths Ltd, £8 7s 6d, £8 9s, • Auckland.—First call: Mort’s Dock, 14s 3d; Farmers’ Trading, 23s 6d; Henry Jones, qps 9d; Electrolytic Zinc, 57s 9d; Standard Insurance, 58s 9d; Mount Lyell, 49s 6d, 49s 9d; Broken Hill, 85s (contributed, 73s 3d); South British, 98s 6d; Coles, £5 7s, £5 7s 6d, £5 7s 3d; Woolworths (New Zealand), £7 4s 6d; Woolworths (Sydney), £8 9s; British Tobacco, 52s 9d; Perpetual Forests, 55s 9d; Gisborne Sheep Farmers, £lO2 10s. Noon call: Roller Mills, 22s (pref. 22s 6d); Electrolytic Zinc, 58s; Tooths Brewery, 57s 3d; New Zealand Breweries, 59s 9d; Australian Glass, 945; Coles, £5 7s 6d; Woolworths (Sydney), £8 7s 6d; New Zealand Stock (1943-46). £lOl 10s; New Zealand Bonds (1946-49), £lO3 10s. Our Auckland correspondent telegraphs : —Pronounced activity is the order of the day on Exchange, and this morning found brokers well supplied with orders, which were subsequently reflected in a substantia] turnover at the first call. The chief support to this buoyant movement came from Australian issues. All the prominent leaders from across the Tasman appeared on the sales sheet, late values were fully maintained, and in some cases advances were noted. Mort’s Dock, at 14s 3d, touched a new high level, and Mount Lyells also set up fresh records, with sales at 495,.6d and 49s 9d. Broken Hills and Electrolytic Zincs were unchanged, but British Tobaccos and Coles sold at higher prices, while Henry Jones, with a sale at 46s 9d, dropped a shilling. The banking section was quieter, but New Zealands looked better, with buyers at 40s 9d and no seller. Insurances received fair attention, but a seller had to accept a Od drop in a sale of South British at £4 18s 6d. Standards improved 3d, with business at 58s 9d. Woolworths (New Zealand) were firmer, and after a sale unchanged at £7 4s 6d, buyers moved up to £7 5s without success. There was good demand for Government Stocks, and for local body debentures, but sellers were firm, and no business resulted. i

Consols, 2£ per cent ... £77 10 0 Funding Loan, 4 p.c., 1968-90 ... Ill 10 0 Assented War Loan ... 102 0 0 Conversion Loan, 3fc ... 102 0 0 -Victory Bonds, 4 (ex div.) ... ... 110 10 0 Commonwealth, 5, 1945-75 ... 107 0 0 Commonwealth, 3|, 1936-37 ... 100 17 6 Commonwealth, 4, 1943-48 ... 102 150 Commonwealth, 3J, 1948-53 ... 99 17 6 Commonwealth, 3jf, 1956-61 ... 97 2 6 Commonwealth, 3, 1955-58 ... -93 2 6 New South Wales, 4*. 1935-45 ... -99 8 9 Victoria, 3, 1929-49 ... '96 0 0 Victoria, 4j, 1940-60 ! ... •... ... 103 0 0 Victoria, 5, 1945-75 ... 108 2 6 Queensland, 3, 1922-47 ... 96 15 0 Queensland, 5, 1940-60 ... 106 3 9 South Australia, 3, 1916 (opt.) 85 0 0 South Australia, 5, 1945-75 ... 106 15 0 West Australia, 4, 1942-62 ... 100 5. 0 Tasmania, 3i, 1920-40 ... 101 5 0 Tasmania, 4, 1940-50 ... '... ... 100 10 0 New : Zealand, ,4i, 1948-55' ...' ... 102 17 6 .New Zealand, 3i, 1940 ... 100 15. 0 New Zealand, 3, 1945 ... 98 0 0

Note issue in circulation ... .. £453,300,000 Bank department .. 60,300,000 Government securities .. 186,900,000 Other securities 2,100,000 Silver coin — ' BANKING DEPARTMENT. Rest ... ... £3,700,000 Public deposits ... ... 24,400,000 Bankers’ deposits ... ... ... ... 90,600,000 Other amounts ... 36,400,000 Government securities ... ... ... -83,100,000 Discounts and advances ... ... 5,500,000 Other securities ... ... ... ... 2O,4O0,OOO Notes and coin ... 60,800,000