DUNEDIN STOCK EXCHANGE
THIS MORKIHG S CALL LATEST QUOTATIONS
EXCHANGE RATE
OK NEW ZEALAND CURRENCY BASIS • The Bank of New South Wales, Dunedin, quoted the following rates for purchase and sales of foreign exchanges (all rates subject to alteration without notice)’: —
DOLLAR RAtES. The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rales_ to-day on a New Zealand currency basis. They are subject to alteration without notice:—
MUTUAL STARR-BCWKETT
THIRTY-FOURTH ANNUAL MEETING The thirty-fourth annual meeting of the Otago Mutual Starr-Bowkett Society was held last night, the chairman of directors (Mr W. H. Adams) presiding. There was an attendance of 11 shareholders. Before opening the business of the evening, the Chairman paid a tribute to Mr Thomas Scott, who had resigned his office as a director. Mr Scott had been one of the founders of the society and had given valuable service throughout the years. " Although the society has progressed during the year, certain factors have militated against its total success. First the depression, and now thb State housing scheme and the cheap money prevailing make it all the more necessary for building societies to bestir themselves,” said the chairman, moving the adoption of the annual report and balance sheet. It was over 34 years since the society had been formed, and thanks to the huge sum of money that had been lent out in the intervening years, hundreds of families now had homes of their own who otherwise would still have been paying rent. Even when the draws were slow in coming, members were still saving money all the time; and it was true of a very large proportion of members that the money they had paid into the society would; otherwise have been frittered away. . Mr H. Harris seconded the motion, which was carried. The retiring directors, Messrs J. Haig and T. Irvine, and the auditors, Messrs R. Hanning and J. T. Hamann, were re-elected. The free loan of £SOO in No. 3 group was drawn by cluster No. 21, held by one shareholder. The free loan of £I,OOO in No. 4 group was drawn by cluster 32, also held by one shareholder.
DOLLAR AND FRANC
Press .Association—By Telegraph—Copyright LONDON, February 28. (Received March 1, at 11 a.m.) The dollar is quoted at 5.02. The franc is quoted at 153 11-16.
N.Z. TRADING BANKS
LATEST MONTHLY RETURNS MARKED GROWTH OF ADVANCES 'lhe monthly statements of assets and liabilities of the six trading banks at the’close of business on Monday, January 31 were gazetted on Thursday night. A comparison of the principal items with the corresponding_ figure* in the return at December 27 is as follows :
The total of free and fixed deposits together, while slightly lower than in the January statement last year, is still substantially higher than in 1936 and 1933, The levels of the two classes and their totals in the January '■"turns from 1935 onward are as follow: Free. Fixed. Total. Jao. £ £ £ 1935 25,856,510 36,444,416 62,300,926 1936 28,827,915 37,033,607 65,861,522 1937 35,020,901 32,949,080 67,969,981 1938 36,186.259 31,631,658 67,817,917 Though the level of advances and discounts is slightly lower thanat the end of December, compared with the January totals in other years, it shows the marked growth which has been characteristic of recent returns. At £53,313,000 it is over £8,500,000 greater, than in 1935. It is nearly £5,900,000 higher than in January. 1937. The increase reflects the part the banks have taken in financing the great volume of overseas trade which characterised the year 1937. The position at the end of January in the past four years is shown in the following taMe:—
Fluctuations in th® value of assets held abroad, in London, and elsewhere, on account of New Zealand business, as shown in the January returns since 1935 have been as follows:
Subsidiary coin in the banks at January 31 was valued at £938,707, const pared with £684,385 in the December return. The banks also held gold valued at £123 at the end of January.
NEW YORK BANKS
GENERAL REDUCTION IN LOANS Substantial increases in surplus, profits. with a general reduction in Joans and deposits and a decline in total, assets, are a feature of the annual reports, of New York banks, (says a report in' the ‘ Financial Times r? As a contrast to the smaller loans and discounts, the majority of the banks show bigger holdings of United States Government securities, and many of them reveal an increase in cash items. Earnings have been relatively , well maintained.
AUSTRALIAN STOCK EXCHANGES
Press Association—By Telegraph—Copyright
SYDNEY, February 28. Trading was active on the Stock Exchange this afternoon round late levels, with good inquiry for front-rank industrials. The undertone of the market was much improved. MORNING SALES.
MELBOURNE, February 28.. Industrials and consolidated loans webe steady to-day. There was a good demand for Metropolitan Gas at-higher prices. Barriers were # unchanged,, but there was continued' inquiry for Enw peror and Loloma at enhanced prices.
Buyers. Sellers. £ s. d. £ S. d. N.Z. GOVERNMENT LOANS— 3£ p.c. Stock, Nov., 1938-52 102 10 0 __ 3j p.c. Stock, March, 193943 — 102 5 0 3j p.c. Stock, Sept., 193943 — 102 5 0 3J- p.c. Stock, May, 1939-52 101 15 0 — 3£ p.c. Stock, March, 194143 101 15 0 — 31- p.c. Stock, Sept., 194143 101 15 0 — 5? p.c. Stock, May, 1941-52 101 15 0 — 3i p.c. Stock, Nov., 1941-52 101.15 0 — 4 p.c. Bonds, 194346 102 10 0 — 4 p.c. Stock, 1943-46 — * 102 10 0 4 p.c. Stock, 194649 104 5 0 — 4 p.c. Bonds. 1952-55 — 104 10 0 4 p.c. Stock, 1952-55 104 5' 0 — 3j p.c. Bonds, 1953-57 97 10 0 — BANKING— Australasia (£5) ... — 10 10 Of . New South Wales (£1) ... ... ...' ... 32 2 6* — New Zealand (£1) ... 2 3 0 2 3 3 New Zealand, Long “ D ” (£1) ... , ... — 1 10 0 Commercial (10s) 0 16 10 Commercial of Sydney (£12 IDs) ... ... ... 20 0 0 — National of New Zealand (£2 10s) ... 2 15 3 — National of Australasia (£10) 14 11 0 . National of Australasia (cont., £5) 7 1 0 — INSURANCE- * National (7s) .1. ... ' 0 17 n 0 17 6 South British (£1) ... 2 4 6 — Standard (£1) 2 19 6t — 1 SHIPPING— Huddart, Parker (ord., £1) 2 4 9t — Huddart, Parker (pref., £1) 1 7 3t — P. and O. Deferred Stock (£1) 1 8 6 U.S.S. Co. (pref., £1) 1 6 9 MEAT PRESERVING— N.Z. Refrigerating (cont., 10s) 0 8 1 0 8 4 Southland Frozen (paid., £1) ... ... 1 9 5* Waitaki Farmers’ Freezing (£5) ... — 4 6 0 LOAN AND AGENCYGoldsbrough, Mort (£1) — 1 11 3 National Mortgage (£2) - — 2 9 0 N.Z. Loan and Mercan . tile (ord., £100) ... — 49 0 0 Wright, Stephenson (ord., £1) 1 1 9 — Wright, Stephenson (pref., £1) 1 0 9 COAL— Westport (10s) — 1 3 9 Wcstport-Stockton (ord., 10s) 0 2 11 0 3 0 WestpOrt-Stockton (pref., 10s) 0 5 8 0 6 6* GAS— Christchurch (£1) ... — ! 9 6 WOOLLEN COMPANIESBruce (ord., £1) ... 0 7 0 - MISCELLANEOUSAnthony Hordern (£1) — 0 18 9 Associated News (£1) — 1 2 9 Associated News (pref., £1) ... ... 1 4 9 — Australian Foundation Trust 0 6 0 Australian Glass (£1) — 4 13 3 British Tobacco (£1) — 2 10 0t Broken Hill Pty. (£1) 3 1 7 3 2 0 Broken Hill Pty. (cont.) 1 12 9 — Brown, Ewing (ord.. £1) —■ 1 0 6 Consolidated Brick (£1) 0 7 9 D.I.O. (ord., 10s) ... — 0 15 3 D.I.C. (pref., £1) ... 1 5 9 Dominion Fertiliser (£l)' 1 3 3 Dominion Fertiliser Debs. ... ... ... 102 0 0 Dominion Rubber (£1) 1 5 6 Dunedin Stock Exchange Ptv. (£1) ... 2 2 0 — Dunlop Perdriau Rubber (£1) 1 3 0 1 3 6t Felt and Textiles (£1) ... — 1 17 0 G. J. Coles (£11 ... 4 1 6 4 2 3 M'Leod Bros. (£10) ... — 29 10 0 Mort’s Dock (£1) • ... — 0 10 9 National Electric (£1) 0 15 0 N.Z. Paper Mills (£1) — 1 6 6 Regent Theatre (£1) 0 19 0 — Smith apd Smith (pref., £1) — 1 1 6 Taranaki Oil (£1 4s 7d) ... 0 6 3 0 6 9 Woolworths (pref., £D : 1 17 3 Woolworths (ord., 5s) 1 1 0 Woolworths (Sydney, ord., 5s) ... 1 6 11 1 7 2f BREWERIESNew Zealand (£1) ... 2 5 6 2 6 0 Dominion (£1) . 1 18 6 Dunedin (£1) 1 9 3 — OVERSEAS LIST— Woolworths (South Africa) . 0 15 0 0 15 6 OVERSEAS MINING— Broken Hill South ' (5s) ... 1 13 8 1 14 3t Electro. Zinc (pref., £1) 2 8 6 2 9 3t Electro. Zinc (ord., £1) 2 6 9 2 7 6t Mount Lyell (£1) ... 1 10 9 1 11 ■ 3 Mount Morgan (2s 6d) 0 9 6 0 9 9 North Broken Hill (5s) 2 10 9 2 11 9 Placer Development 3 13 Of — GOLD MINING— Big River (Is) 0 1 0 0 1 6f Clutha River (2e) ... — 0 3 3* Gilliespie’s (Is) — 0 1 1 Goldfields Dredging (Is) 0 0 2 — Molyneux River (2s) 0 1 6 — Mossy Creek (Is) ... 0 1 0 — Nokomai (5s) 0 1 11 0 2 4 Okarito (5s) — 0 2 9 Paddy’s Point (5s) ... — 0 1 6f Sandhills (Is) —* 0 0 3 Waipapa . Beach (Is) — 0 0 6 UNLISTED STOCKSAll stocks in this section are not quoted on the official list, and transactions are subiect to a different rate of brokerage: — Mackintosh Caley Phcenix (£1) 0 10 Of Woolworths (West. Aust., £1) 4 9 0 —“ A. and T. Burt (pref., £1) 0 11 0 0 13 9 Dunedin Ice Cream ... 1 1 0 1 I 0 Suowhile Laundries ... 0 15 0 1 1 0 f cum div. * ex div.
Buying. Selling. London— £100. stg. N.Z T.T. £124 £124 10/ O.D. £123 10 1 £124 8/9 Australia— £A to £100 I N.Z. T.T. £101 £100 10 1 ■Fiji— £F to £100 i 1 N.Z New York— T.T. £90 7/6 £89 ! Dollars to £1 N.Z . T.T. 4.0589 1 4.0241 O.D, 4.0689 4.0281 Montreal— Dollars to £1 N.Z. ... ,. . T.T. 4.0577 4.0252 Austria— Schillings to £1 O.D. 4.0697 4.0292 N.Z . T.T. i 20.99 Belgium— O.D. - —" 21.00 Belgas to £1 N.Z . T.T. 23.949 23.639 O.D. 24.024 23.650 Czechoslovakia— Kofunas to £1 N.Z . T.T. — 113,82 O.D. — 113.87 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. 185.55 179.25 France— Francs to £1 N.Z T.T. 124.71 122,21 O.D. — 122.25 Germany— Reichsmarks to £1 N.Z . T.T. —. - 9.892 O.D. — 9.897 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. — 76.48 O.D. — 76.53 Java— Florins to £1 N.Z .. T.T. 7.279 7.129 O.D. 7.319 7.135 Norway— Kroner to £1 N.Z .. T.T. 16.182 15.892 O.D. 16.242 15.898 Noumea— Francs to £1 N.Z .. T.T. 125.96 120.96 O.D. — 121.00 Papeete— Francs to £1 N.Z .. T.T. 125.81 121.01 Sweden— Kronor to £1 O.D. 121.05 N.Z. .. T.T. 15.799 15.504 O.D. 15.859 15.898 Switzerland— Francs to £1 N.Z. ... . .. T.T. 17.530 17.260 Chefoo— O.D. • 17.635 17.265 N.Z. pence to 1 dollar . T.T. — 18 5-32 O.D. 18 9-64 Hongkong— N.Z. pence to 1 dollar ... . .. T.T. 18 29-64 18 53-64 O.D. 18 27-64 18 55-64 India and CeylonN.Z. pence to 1 rupee ... . ,. T.T. 22 3-8 22 21-32 Japan— N.Z. pence to 1 O.D. 22 11-32 22 21-32 yen ... ... .. ''■ •■■■■■ . T.T. 17 31-64 O.D. ■: ; ;j 17 31-64 Manila— N.Z. pence to 1 peso T.T. 29 25-64 29 57-64 Shanghai— O.D. 29 19-64 29 57-64 N.Z. pence to 1 dollar ... , ... T.T, — 18 11-64 Singapore— O.D. — 18 11-64 N.Z. pence to 1 dollar ... ., .. T.T. 34 21-32 35 1-32 O.D. 34 9-16 35 1-32
SELLING— U.S.A. (Per £1 N.Z.) CANADA. (Per £1 N.Z.) T.T. (dol) • O.D. (dol) ... 4.02 1-2 ... 4.02 15-16 4.02 9-16 4.02 15-16 BUYING— O.D. (dol.) ... 4.06 7-8 4.07
January. December* £ £ Circulation 9,660,812 11,679,463 Free deposits 36,186,259 35,362,248 Fixed deposits 31,631,658 32.479,992 Advances 53,313,050 54,002,006 London assets 5,739,073 5,199,776
Jan. Deposits. Advances. Excess of Deposits. £ £ £ 1935 62,300,926 44,798,852 17,502,074 1936 65,861,522 45,649,334 20,212,183 1937 67,969.981 47,416,649 20,553,332 1938 67,817,917 53,313.050 14,817.867
Jan. London. Elsewhere. Total*. £ £ £ 1935 12,234,355 7,897,234 20,131,389 1936 11,149,879 6,183,192 17,333,071 1937 7,301,885 5,221,770 12,583,655 1938 5,739,073 3,439,731 •9;178,804
Commonwealth bonds—; £ s. d. 31 p.o., 1948 ... 99 10 0 4 p.c., 1938 • ... ... ... 101 18 9 4 p.c., 1941 , .„ 104 5 0 4 p.c., 1953 104 10 0 Bank of N.S.W. ... 32 17 6 Toohey’s ... ... Tooth’s ... ... ... ... ... 1 11 3 2 16. 0 Dunlop Perdriau ... ... 1 3 H Fairymead Sugar ... ... I 14 9 General Industries .... ... 1 0 0 Goldsbrough, Mort ... ... Meggitt’s ... ... ...' ... 1 11 0 1 11 0 AFTERNOON SALES, Bank of N.S.W. ... _ 32 17 6 Commercial Banking of Sydney ... ... ... .... 20 15 0 Commercial Bank of Australia ... '... ... 0 16 11 Colonial Sugar .., 46 10 0 Associated News ... 1 2 3 Burns, Philp - ... ... ... 2 12 6 Australian Gas (A). ... ... 7 8 6 Berlei ... ... ... ... 2 0 3 British Tobacco ........ ... 2 8 9 Tooth’s ... ’ ... ... 2 16 1* Dunlop Perdriau 1 3 6 Farmer’s ■ ... 1 13 0 Stedman ... ... ... • ... ■ 0 15 9 General Industries .... ... 1 0 0 KandOs ... _ 1 5 9 Traders’ Finance ... ... 1 4 3 Cash Orders ... 0 17 0' Victoria Nyanza ... ... «. 0 15 10f Goldsbrough, Mort ... ... 1 11 0 Wilcox,\Mofflin O 10 10 Millaquih Sugar 1 17 3 Woolworths 1 7 4f Woolworths (New Zealand delivery) .... ... ... ... 1 7 1 7 3 I. 7 H' Mount Morgan ... 0 9 8 Zinc Corporation 4 18 6 Placer Development .... ... 3 19 0 Emperor 0 13 3
£ s. d. National Bank (£5 paid! . ,730 National Bank (£10 paid) 14 13 Qf Australian Paper Manufacturers (pref.) . T 6 0 Carlton Brewery . .37 9 Dunlop Perdriau.... ••• • . 13 7 Dunlop Perdriau (pref.) . . 1 18 9 Electrolytic Zinc ..; • . * 2 7 6 Broken Hill Proprietary . . 3 2 6 Broken Hill South ... . • 1 14 3 Emperor ... ... ••• • . 0 13 1 Loloma ... ... * .116
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ESD19380301.2.48.3
Bibliographic details
Evening Star, Issue 22895, 1 March 1938, Page 6
Word Count
2,280DUNEDIN STOCK EXCHANGE Evening Star, Issue 22895, 1 March 1938, Page 6
Using This Item
Allied Press Ltd is the copyright owner for the Evening Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.