Investment Market To-day

Evening Star, Issue 22891, 24 February 1938, Page 10

Investment Market To-day

METAL SHARES ADVANCE

SUBSTANTIAL ALL-ROUND GAINS WOOLWORTHS SELL AT £1 7/3 Influenced by a persistent rise in the base metals market, a firm undertone on Wall Street and brighter London markets following the removal of the bearish effect of a General Election threat, transtasman stocks quoted on the local market recorded a sharp rise this morning. Commonwealth mining issues, in particular, finished very firm, with vendors quoting wide margins and in some cases remaining off. Call-room business was restricted to half a dozen transactions in Woolworths Ltd., which sold at £1 7s 3d. The announcement of the final dividend and a bonus distribution of one share for every five held confirms the market’s expectations of some extra benefit from the company this year, and the 5s shares have shown a 3s 3d advance over the last nine days. Banks showed little variation on yesterday’s rates. New South Wales hgd buyers at the ex-dividend price of £3l 10s, while Commercials had a slightly better market between 16s 6d and 17s. Among shipping stocks, P. and _O. Deferred were marked up 9d, finishing with an unsupplied buyer at £1 5s 9d. Commonwealth industrials made a general advance. Broken Hill Proprietaries recorded a Is 3d gain and finished stronger after the call. Associated News (pref.) were marked up 6d, while G. J, Coles, after selling at £4 Is, had unanswered buyers 9d above that price. Dominion issues were quietly steady. Taranaki Oils lost further ground to close between 6s 3d and 6s Bd. AUSTRALIAN MINING STOCKS. Following a brighter trend yesterday morning Australian mining stocks recorded substantial improvements in the afternoon with comparatively heavy business. An advance on the closing rates was recorded this morning, every quoted issue revealing gains. Broken Hill Souths advanced between Is 6d and 2s, Norths between Is 9d and 3s, Mount Lyells Is, Electrolytic Zincs (ord.) Is 3d (pref.) 2s, while Morgans recovered to finish above the 10s mark. No business was recorded in the stocks this morning, however, vendors’ limits being too High for buyers’ requirements, SALES REPORTED. ■ —Late Yesterday.— 4 per cent. Stock, 1943-46, £lO2 10s. Woohvorths (Sydney, or<T.), £1 7s (2). Mount Lyeli, £1 10s 7d, £1 10s 6d. —This Morning.— 4 per cent. Stock, 1943-46, £lO2 IQs. Westport-Stockton (ord.), 3s. Colonial Sugar, £46 ss. 1 G. J. Coles, £4 Is. New Zealand Breweries, £2 5s 7Jd. Electrolytic Zinc (ord.), £2 7s (2), la.e yesterday. SALES ON ’CHANGE. —Late Yesterday.— Westport Coal, £1 3s 3d. —This Morning.— Woolworths (Sydney, ord.), £1 7s 3d (6).. SALES AFTER CALL. —Late Yesterday.— Westport Coal, £1 3s 3d. Woolworths (Sydney, ord.), £1 7s 2d (3). Broken Hill South, £1 14s (2). Mount Lyeli, £1 11s (2). North Broken Hill, £2 10s 6d (2), DIVIDENDS DUE. Bank of N.S.W.—lnterim, quarterly, at 6s per share Feb. 24 Kuala Kampar Tin—6d (sterling) per share Feb. 24 Silverton Trams—ls per share ... Feb. 25 Kuala Lumpur Tin N.L.—ls per share Feb. 25 Southland Frozen Meat—Final, ord. and pref., 8d per share Feb. 25 Myttons —half-yearly of 5 per cent, on ordinaries and 31 per cent. on preference Feb. 28 Edments Ltd.-Interim at 10 per _ cent, per annum Feb. 28 Standard Portland Cement —Half year at 10 per cent, per annum Feb. 28 Winchcombe, Carsons —* Interim ' half-yearly, 4 px Feb. 28 Paddy’s Point—s per cent, per annum Mar. 1 Berlei Ltd.—lnterim half-yearly, ord., 5 per cent, per annum, pref., 4 per cent Mar. 1 Australian Guarantee Corp.—Half- .. yearly, at 10 per cent, per annum Mar. 1 Elder, Smith yearly, at 7 per cent, per annum Mar. 1 Big River Gold—ld pe share ... Mar. 1 Carlton Brewery Final 74 per cent v Mar. 1 Yellow Cabs of Australia—lnterim 4 per cent Mar - 3 George Farmer, Sydney—Halfyearly pref. at 8 per cent, per annum Mar. r M. K. Millinery—Final, 8 per cent. Mar. 3 Standard Insurance—Half-yearly, Is 3d per share Mar. / Queensland Brewery—lnterim, halfyearly ord., 7 per cent.; pref., 5i per cent, per annum ... Mar. 11 W. R. Carpenter 10 per cent, per annum Mar. lb Electrolytic Zinc yearly, 6 per cent., pref. and ord. Mar. 17 \pex Invest. Trust Final halfyearly at 6 per cent; per annum ••• Mar - 11 Tongah Compound N.L.—ls per share •; ••• ••• ••• Mar- 19 Tongah Compound No. Z N.L.. — Is share and bonus of Is per share Mar. 25 Mackintosh, Caley, Plicemx Ltd. 3[ per cent, per annum Mar. 31 CALLS DUE. Bricks and Mortar—ls a share (making ,4s paid) • ... Feb. 28 Olympic Tyre and Rubber Co--5s a share (making 15s paid) Feb. Zo Broken Hill Pby.—New, 5s a share • (making 6s 8d paid) Mar. 31 Castlemaine Perkins—ss a share making 7s 6d paid) ... ... March 31 Felt and Textiles—ss (making 10s paid) Apr. 1 Burns, Philp—New, 5s a share (making 10s paid) Apr. 1 Aust. Paper Manufacturers (pref.) ,—ss (making 15s paid) May 31 THE BUTTER MARKET Press Association—By Telegraph—Copyright LONDON. February 23. (Butter is firm. Choicest salted— New Zealand and Australian, 116 s; unsalted —Australian, Ilßs.

DUNEDIN STOCK EXCHANGE

THIS MSRNING'S CALL LATEST QUOTATIONS

UNLISTED STOCKS— All stocks in this section are not quoted on the official list and transactions are sub ject to a different rate of brokerage. Mackintosh, Caley, Phcenix (£1) ... ... 0 7 Of 010 0 A. and T, Burt (pref., £1) 011 0 014 0 Dunedin Ice Cream ... tcum div. *ex div.

EXCHANGE RATE

ON HEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following rates for purchase and sales of foreign exchangee (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.) (PerfilN.Z.) SELLING— T.T. (dol) ... 4.02 7-16 4.02 5-16 O.D. (dol) ... 4.02 13-16 ■ 4.02 11-16 buying- , O.D, (dol) ... 4.06 3-4 4.06 34 AUSTRALIAN STOCK EXCHANGES Prew Association—By Telegraph—Copyright SYDNEY, February 23. A good rise in all base metal shares was noted on the Stock Exchange today Little scrip, however, was ottering.’ Investment business continues along quiet, steady lines, '

SYDNEY WOOL SALES Press Association—By Telegraph—Copyright SYDNEY, February 23. At the wool sales 8,193 bales were offered and 6,920 sold, 130 of them privately. The easier tendency recently reported has now extended to the best fleece wools, which showed a decline of 5 per cent. Competition was fairfy general and greasy merino realised to 20d. PRICE OF GOLD Press Association —By Telegraph—Copyright LONDON, February 23. deceived February 24, at 11 a.m.) Fine gold is quoted' at £6 19s 10Jd. DOLLAR AND FRANC Pres* Association—By Telegraph—Copyright LONDON, February 23. (Received February 24, at 11 a.m.)' The dollar is quoted at 5.01 5-16. The franc is quoted at 153 J. ,

Buyers. Sellers. £ S. d. £ S. d. N.Z. GOVERNMENT LOANS3i p.c. Stock, Noy., 1938-52 102 10 0 .— 3i p.c. Stock, March, 1939-43 — 102 5 0 3i p.c. Stock, Sept., 0 1939-43 102 0 3i p.c. Stock, May, 1939-52 101 10 0 — 3i p.c. Stock, March, 1941-43 101 10 0 — 5i p.c. Stock, Sept., 1941-43 101 10 0 — 3i p.c. Stock, May, 0 1941-52 101 10 — 3i p.c. Stock, Nov., 1941-52 101 10 0 — 4 p.c. Bonds. 1943-46 102 10 0 — 4 p.c. Stock, 1943-46 — 102 15 0 4 p.c. Bonds, 1946-49 104 5 0 — 4 p.c. Stock, 1946-49 — 104 10 0 4 p.c. Bonds, 1952-55 103 10 0 — 4 p.c. Stock, 1952-55 103 5 0 — 3A p.c. Bonds, 1953-57 97 10 0 — 3| p.c. Stock, 1953-57 98 5 0 BANKING— 1 Australasia (£5) ... — 10 10 0 New South Wales (£20) 31 10 0* — New Zealand (£l) 2 z 9 —- New Zealand, Long D (£1) — 1 10 0 Commercial (10s) 0 16 6 0 17 0 Commercial of Sydney (£12 10s) 20 3 0 National of New Zea land (£2 10s) 2 14 0 National of Australasia (£10) ... 14 9 0 INSURANCE— National (7s) 0 16 11 0 17 3 Standard (£1) 2 19 6t — SHIPPING— Huddart, Parker (ord., £1) 2 2 3 — Huddart, Parker (pref., £1) 1 7 3 — P. and O. Deferred Stock (£1) 1 5 9 — U.S.S. Co. (pref.. £1) 1 6 9 — MEAT PRESERVING— N.Z. Refrigerating (paid, £1) — 0 19 0 N.Z. Refrigerating (cont., 10s) , — 0 8 6 Waitaki Farmers’ Freezing (£5) ... — 4 7 0 LOAN AND AGENCY— Dalgety (£5) 8 4 0 — Goldsbrough, Mort (£1) — 1 11 6 National Mortgage 0 (£2) — 2 9 National Mortgage (“B" Issue, £11 1 11 0 _ N.Z. Loan and Merc.n - tile (ord., £100) .. — 49 0 0 N.Z. Guarantee Corp. (3s) 0 4 4 0 4 8 Otago Farmers’ Co-op (3s 4d) 0 o 9 Otago Farmers’ Co-op. (A pref.. £1) 0 19 0 — Trustees, Executors, and Agency (£2) ... 3 15 0 — Wright, Stephenson (pref., £1) 1 0 9 COAL-. Kaitangata (16s) ... — 1 10 0 Westport (10s) 1 3 2 1 5 6 Westport-Stockton (ord., 10s) — 0 3 2 Westport-Stockton (pref., 10 s) ... ... 0 5 9 WOOLLEN COMPANIES— Bruce (ord., £1) ... 0 7 0 Mosgiel (£4) 9;10 0 — MISCELLANEOUS— Associated News (£1) — 1 2 9 Associated News (pref., £1) 1 5 0 — Australian Foundation Trust 0 6 0 British Tobacco (£1) — 2 10 0 Broken Hill Pty. (£1) .... 3 2 6 — Broken Hill Pty. (cont.) 1 12 6 — Brown, Ewing (ord., 6 £1) - - •— 1 ■ 0 Brown, Ewing (pref,. £1) — 1 3 0 Colonial Sugar Co. (£20) 46 0 0 46 10 0 D.I.C. (ord., 10s) ... — 0 15 3 D.I.C. (pref., £1) ... 1 5 9 — Dominion Fertiliser (£1) : 1 3 3 1 4 3 Dominion Fertiliser Debs 102 0 0 — Donaghy’s Rope and Twine (£1) — 2 7 0 Dunedin Stock Exchange Pty. (£1) ... 2 2 0 — G. J. Coles (£1) ... 4 1 9 — Kauri Timber (£1 5s) — 1 2 6 M'Leod Bros. (£10) ... — 29 10 0 Mort’s Dock (£1) — 0 11 0 N.Z. Drug Co. (£2) — 3 9 6 Regent Theatre (£1) 0 19 0 — Smith and Smith (pref., £1) — 1 1 6 Taranaki Oil (£1 8 4s 7d) 0 6 3 0 6 Wilson’s (N.Z.) Cement (10s) — 0 18 6 Woolworths (pref.. £1) 1 17 3 — Woolworths (ord., 5s) 1 0 0 — Woolworths (Sydney, ord., 5s) 1 7 0 1 7 3 BREWERIES— New Zealand (£1) ... — 2 5 10 OVERSEAS MINING Broken Hill South (5s) ... 1 15 0 1 16 0 Electro. Zinc (pref., ot £1) ... 2 10 — Electro. Zinc (ord., 6t £1) 2 7 — Emperor Mines, Fiji (10s) 0 12 0 — Mount Lyell (£1) 1 11 6 1 12 0 Mount Morgan (2s 6d) 0 10 0 0 10 4 North Broken Hill (5s) 2 11 9t 2 14 0 Rawang Tin (10s) ... 0 9 0 — GOLD MINING— Big River (Is) 0 1 It — Clutha River (2s) ... 0 2 5* — Gillespie’s (Is) 0 0 9 0 1 1 Goldfields Dredging 0 (Is) 0 2 —- Grey River (8s 9d) ... 0 11 3 — Molyneux River (2s) 0 1 1 — Mossy Creek (Is) ... 0 1 0 — Nokomai (5s) 0 1 11 0 2 3 Paddy’s Point (5s) ... — 0 1 6' Sandhills (Is) 0 0 1 0 0 Skippers (Is) 0 0 1 0 0 4 Waipapa Beach (Is) ~ — 0 0 2

Buying. Selling. London— ' £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 New York— Dollars to £1 N.Z T.T. 4.0564 4.0216 O.D. 4.0664 4.0256 Montreal— Dollars to £1 N.Z T.T. 4.0548 4.0223 O.D. 4.0668 4.0253 Austria— Schillings to £1 N.Z, ... ... T.T. 20.95 O.D. — 20.96 Belgium— Belgas to £1 N.Z T.T. 23.949 23.639 O.D. 24.024 23.650 Czechoslovakia— Korunas to £1 N.Z T.T. 113.66 O.D. — 113.71 Denmark— Kroner to £1 N.Z T.T. 18.203 17.893 O.D. 18.263 17.899 Finland— Marks to £1 N.Z. T.T. 184.95 179.15 O.D. 185.35 179.25 France— Francs to £1 N.Z T.T. 125.04 122.54 O.D. — 122.58 Germany— Reichsmarks to £1 N.Z T.T. 9.890 O.D. 9.895 Greece— Drachmae to £1 N.Z. T.T. 429.54 O.D. — 429.84 Holland— . Florins to £1 N.Z T.T. 7.307 7.157 O.D. 7.347 7.161 Italy— Lire to £1 N.Z T.T. 76.45 O.D. — 76.50 JavaFlorins to £1 N.Z T.T. 7.279 7.129 O.D 7.319 7.133 Norway— Kroner to £1 N.Z. T.T. 15.182 15.892 O.D. 16.242 15.898 Noumea— Francs to £1 N.Z T.T. 126.29 121.29 O.D. — 121.33 Papeete— Francs to £1 N.Z T.T. 126.14 121.34 O.D. — 121.38 Sweden— Kronor to £1 N.Z T.T. 15.798 15.501 O.D. 15.856 15.507 Switzerland Francs to £1 N.Z T.T; 17.530 17.260 O.D. 17.635 17.265 CHefoo— N.Z. pence to 1 dollar T.T. 18 1-8 O.D. ■ —. 18 7-64 Hongkong— N.Z. pence to 1 dollar T.T. 18 29-64 18 53-64 O.D. 18 27-64 18 53-64 India and Ceylon— N.Z. pence to 1 rupee T.T. 22 3-8 22 21-32 P O.D. 22 11-32 22 21-32 Japan— N.Z. pence to 1 yen . T.T. O.D. 17 31-64 ' — 17 31-64 Manila— N.Z. pence to 1 peso ‘ T.T. O.D. 29 17-64 29 49-64 29 11-64 29 49-64 Shanghai— N.Z. pence to 1 dollar T.T 18 9-64 O.D — 18 9-64 Singapore— N.Z. pence to 1 dollar T.T. 34 11-16 35 11-64 O.D. 34 19-32 35 11-64

Comm. Banking of Sydney 20 4 0 Comm. Bank of Australia 0 16 9 United Insurance 9 15 0 Colonial Sugar 46 12 6 Associated News • • •• 1 2 3 Automatic Totalisators ... 0 18 0 Adelaide Steam 1 14 3 Howard Smith ... 1 1 Burns Philp 2 13 0 Neon Signs ... ..' 0 16 6 British Tobacco 2 9 9 Tooths 2 14 4 2 9 G. J. Coles 0 General Industries ... ( ... 0 19 4i Associated Pulp 1 1 0 Westinghouse ... 1 2 9 Mauri Bros 3 13 6 Mark Foy ... ■ 1 4 9 Warburton Franki 1 2 0 Goldsbrough, Mort Woo!worths ... 1 11 0 1 7 3 North Broken Hill 2 11 6 Zinc Corporation 4 18 0 9 0 9 0 llawang ... ••• ••• (New Zealand delivery) 4 4 Placer Development 3 14 0 Emperor 0 12 3 MELBOURNE, February 23. There was improvement m market sentiment to-day on the better overseas outlook. Barriers were particularly •affected. Lolomas and Mount Morgans were in demand. £ 6. d. ■ National Bank (£5 paid) ... 7 4 0 Carlton Brewery .3 7 6 3. J. Coles 4 2 0 Australian Foundation Investment Trust ,0 5 9 Electrolytic Zinc 2 7 9 (pref.) 2 9 6 Mount Morgan Mount Lyel] 0 9 9 1 11 4i Broken Hill Pty 3 3 0 North Broken Hill ... ... 2 11 6 South Broken Hill ... ... 1 14 3 Emperor 0 12 8 Loloma 1 0 0