Commerce, Mining, & Finance

Evening Star, Issue 22596, 13 March 1937, Page 14

Commerce, Mining, & Finance

austmlian stock exchanges Fro Association— By Telcgr.pk-Copyrijll SYDNEY, March 12. All stocks affected by the metal price movements were particularly active on -change to-day. There was considerable irregularity among industrials, but price changes were only minor, and the turnover generally was smaller.

MELBOURNE, March 12. . The market was less active. Barriers, Mount LyeDs, and tin shares were subject to profit-taking, while industrials and bonds were fairly steady.

LONDON STOCK EXCHANGE Pres* Association—By Telegraph—Copyright LONDON, March 11. The following are the latest quotations of Government securities:—

FOREIGN EXCHANGES (British Official Wireless.) Press Association —By Telegraph—Copyright RUGBY, March 11, The following aro the mean closing rates : Faria, franc to £1 ... 106 9-16 Haw York, dollar to £1 4.881 Montreal, dollar to £1 4.881 Brussels, helgaa to £1 ... Geneva,‘franca to £1 ... >■ 21.42 Amsterdam. florin to £1 «. 8.9315-16 Milan, -l&a to £X *. 9225-32 Berlin, refchmarken to £1 Stockholm, kroner to £1 ... -. 19.391 Copenhagen, kronen to £1 .... ... 22.40 Oslo, kroner to £1 ... .- ... 19.90 Vienna, schillings to £1 261 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 5474 Bucharest, lei to £1 670 Belgrade, dinars to £1 213 Warsaw, roubles to £1 25.75 •Rio do Janeiro, pence to milreas 41 Buenos Aires, pence to dollar ... ■Montevideo, pence to dollar ... 39J Bombay, pence to rupee 184 Shanghai, pence to dollar 14 17-32 Hongkong, pence to dollar ... 1415-64 Yokohama, penco to yen ... ... 14 Batavia, florin to £1 ... ... ... 881 •Sellers. PROPERTY REPORT Messrs R. S. M'Kenzie Ltd. report lhaving submitted at public auction yesterday a four-roomed house, number 19 Melbourne street. The property was sold after competition to a cash buyer.

WncAlf rLvUK) Frew Association— By Telegraph—Copyright LONDON, March 11. Wheat cargoes are dearer and parcels higher. Futures: London—March, 46s 8d; May, 46s Bd. Liverpool— March, 9s; May, 9s l]d; July. 9s 3d. Spot trade is quiet. Australian, ex ship, 47s 3d. ■ Flour is firm. Australian, ex store, 32s 6d to 33s 9d. Chicago futures; May, 13" i cents.; July, 1201; Sentember, 118 id. METAL MARKET Press Association—By Telegraph—Copyright LONDON, March 11. The following are the official quotations : Copper: Standard, £7B 2s 6d per ton; forward, £74 17s 6d. Electrolytic: Spot, £80; forward, £BO. Wire bars, £BO 10s. Lead: Spot, £36 7s 6d; forward, £36 5S- Spelter: Spot, £37; forward, £36 ss. Tin: Spot, £295 ss; forward, £3Ol 10s. Silver: Fine, 20Jd per oz; standard, 22Jd. CANTERBURY MARKETS [Pek United Press Association.] CHRISTCHURCH, March 12. There is little change to record in the local grain and produce markets, which continue largely inactive, tho unseasonable weather having put a damper on trade, particularly for small seeds. The poor germination has materially affected this year’s crop of ryegrass. Good seed is scarce, leaving the market very firm. The cocksfoot market is very quiet, and the poor quality of samples of the Peninsula seed coming to hand is not conducive to sales, the merchants being uninterested. Values range at 6d to 9d according to quality. Oats remain firm at recent rates. Chaff is slightly firmer, with the new season’s crop not yet ready to cut and the bulk of the old season’s crop cleaned up. There is a lot of talk about blight in the potato crop, but so far no appreciable damage is reported. In the main crop not much business is passing, and quotations are from £2 15s to £3 on tracks. Fowl wheat is in short supply, and the trade is eagerly awaiting particulars of the reported importation into the North Island from Australia. DOMINION BUILDING SOCIETY ANNUAL REPORT The annual ‘report of the Dominion Building Society', to be printed at the annual meeting on Monday, states that during tho year careful consideration was given to a reconstruction of the society, and the directors thanked the members for their confidence in adopting the rules, which, when thoroughly appreciated, would, it was believed, be of material assistance to the society. It was pleasing to note tho renewed activity in building operations, and the society was sharing in the general improvement, and several new loans had been granted during the year. The directors were concerned with regard to the operation of the new legislation dealing with mortgages, and they appreciated the readiness with which the great majority of outside mortgagees had met the society in reducing interest and renewing the mortgages, so that members would materially benefit by this arrangement. It was pleasing to note that the members who had loans were in general meeting their obligations in a very satisfactory manner. Subscribing members should be encouraged to continue their contributions, and also endeavour to link up other members with tho society in the various classes of shares now offered, either for investment or loans. The directors had pleasure in crediting interest on subscriptions at 3i per cent., which, with the prevailing reduction of interest, should be considered satisfactory. The statement of accounts showed a continued satisfactory position, despite the lower rates of \ interest _ which automatically controlled the interest charged by the society. After making provision for the interest oh subscriptions, there was a credit of £449 7s 4d. which was transferred to the reserve fund. Depreciation reserve had been further strengthened by the transfer of £532 13s lid from general reserve, and after providing for realised losses tho fund was left in a sound position to meet possible contingencies. The directors regretted that during the_ year Mr S. B. Macdonald had to resign owing to his removal to Auckland. Mr J, W. Scurr was appointed to fill the vacancy, and he automatically retired this year, but offered himself for re-election, and as no other nomination had been received it would be necessary at the annual to reappoint Mr Scurr. The remaining directors would continue in office until next year. Owing to Mr S. TL Macdonald’s retirement, Mr ,T. Y. Love took up the presidency, and would continue in that office during tho next year.

THE SEARCH FOR GOLD KING SOLOMON RETURN The wash-up of the King Solomou mine this week was 14oz Bdwt. WORKSOP EXTENDED DIVIDEND A dividend (No. 9) of 10 per cent, (free of income tax) has been declared on all the shares in the Worksop Extended Gold Dredging Company, and will be payable on March 20, 1937. This dividend represents a distribution of £1,600 to the shareholders. The sum of £l6O has been placed to the general reserve, which now stands at £1,440. Transfer hooks will be closed from March 16 to March 20 (both days inclusive). LONDON MEAT MARKET The Bank of New Zealand has received the following advice from_ its London office as at the close of business yesterday:—Frozen meat: There is » fair demand for wethers, while the for ewes is short of supplies, and prices are nominal. The market for lambs is steadier, and there is a little better demand. Trade is brighter with a better demand. Wethers— Light, 4jd to sfd per lb ; heavy, 4d to -tjd. Ewes, 3ijd to 4|d. Lambs: Twos, 7d to 7Jrl; eights, 6Jcl to 7d; fours, 6|d to 63d ; seconds, 6|d to 7d.

morning sales. s. d. Commonwealth Bonds — 3 p.c., 1944 3 p.c., 1948 3i p.c., 1948 3| p.c., 1949 ... ... 94 0 91 15 94 15 97 10 0 0 0 0 3'J p.c., 1951 (second issue) ... ••• ••• ••• 4 p.c., 1959 96 17 101 5 6 0 Com. Bank of Sydney 33 0 0 Bank of N.S.W. 38 1 0 0 Austral Gas (A) 1 0 Tooths ... ••• ••• ••• 3 10 9 Anthony Hordern ... i i 0 Broken Hill Pty. (new) 4 4 0 Burns Philp .... ••• 4 1 0 Electrolytic Zinc ... • (prof.) 3 3 5 6 0 0 General Industries ... 1 1 9 G. J. Coles ... ... ••• 5 6 0 Goldsbrough, Mort ... 1 IS 71 6 Lustre ... ■ X 3 afternoon sales. Bank of New South Wales 38 0 0 Comm. Bank of Sydney 23 0 0 Colonial Sugar 43 5 0 Associated News ... ... 1 4 3 Associated News (pref.) 1 3 6 Burns, Philp ... ... 4 1 0 British Tobacco 2 13 0 Tooths 2 16 9 Carlton Brewery 3 4 0 Dunlop Perdriau 1 0 71 Millaquin Sugar o 4 6 Electrolytic Zinc 3 6 3 Cash Orders .. 1 1 41 J. Fielding 4 0 0 Mark Foy 1 XU 0 Morts Dock 0 14 6 Taubmans , 3 13 6 Newbold Brick 1 16 6 Mount Morgan 0 18 6 Mount Lyell _ 2 12 3 Zinc Corporation ... 8 14 0 Kuala Kampar 1 4 6 Rawang Tin 0 13 10 ■Larut 1 1 3

£ s. d. National Bank (£5 paid) 8 0 0 National Bank (£10 paid) 16 2 0 British Tobacco 13 0 Carlton Brewery ... 3 4 0 G. J. Coles ... 5 5 6 Drug Houses 1 9 3 Dunlop Pcrdriau 1 0 9 Dunlop Perdriau (pref.) ... 1 15 9 Goldsb'rough, Mort 1 18 9 Electrolytic Zinc 3 o 6 Electrolytic Zinc (pref.) ... 3 7 0 Victoria Nyanza 0 16 0 Mount Morgan 0 18 6 Mount Lyell 2 12 3 North Broken Hill 4 9 9 South Broken Hill 2 7 0 Kauri Timber ... i 3 6 Emperor i 0 0 Loloma i 5 0

Consols, 2i per cent £76 0 0 Funding Loan, 4 p.c,, 1968-90 ... 111 10 0 Assented War Loan 102 0 0 Conversion Loan, 3j 109 0 0 Victory Bonds, 4 (ex div.l 108 10 0 Commonwealth, 5, 1945-75 101 10 0 Commonwealth, 3j, 1936-37 103 10 0 Commonwealth, 4, 1943-48 101 7 6 Commonwealth, 3$, 1948-53 95 17 6 Commonwealth. 31, 1956-61 92 6 3 Commonwealth, 3, 1955-58 99 7 6 Now South Wales, 4;, 1935-45 ... 95 12 6 Victoria, 3, 1929-49 103 7 6 Victoria, 4i, 1940-60 ... 108 0 0 Victoria, 5, 1945-75 95 10 0 Queensland, 3, 1922-47 104 7 6 Queensland, 5, 1940-60 ... ... 83 0 0 South Australia, 3. 1916 (opt.) 108 0 0 South Australia, 5. 1945-75 101 5 0 West Australia, 4, 1942-62 101 0 0 Tasmania, 3J, 1920-40 100 5 9 Tasmania, 4, 1940-50 103 12 6 New Zealand, 4$, 1948-55 104 0 0 New Zealand. 3i, 1940 101 7 6 New Zealand, 3, 1945. 9a 7 6