DUNEDIN STOCK EXCHANGE

Evening Star, Issue 22913, 22 March 1938, Page 6

DUNEDIN STOCK EXCHANGE

THIS MHm CALL LATEST QUOTATIONS

DOLLAR AND FRANC Press Association—By Telegraph—Copyright LONDON, March 21. (Received March 22, at 11 a.m.) The dollar is quoted at 4.97 i. The finuc is; quoted at 161 5-S.

FOREIGN EXCHANGES OH 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)

DOMINION BUILDING SOCIETY SUCCESSFUL YEAR REVIEWED NO ILL-EFFECTS FROM HOUSING SCHEMES A successful 12 months’ operations were reviewed at the twelfth annual meeting of the Dominion Building Society last night, when it was reported that more applications for loans had been received than could be dealt with. The president (Mr J. Y. Love) presided over a small attendance. ‘I Over the last few years chairmen of building societies have made feeling reference to the slump of 1930-36. I believe that the slump is definitely over so far as this society is concerned,” said the chairman moving the adoption of the annual report and-bal-ance sheet. The past 12 months had been very successful, he continued. A total of 13 cases went forward to the Adjustment Commission, but of these four were voluntarily adjusted, six were dealt with by the commission, and three were still pending. No loss was expected, however, as the reserve accumulated more than accounted for any losses incurred. The new rules had proved very satisfactory, and the fact that the society now had first mortgage money was a decided advantage in negotiating loans. During the year there had been a good demand for loans, more than the society could deal with, in fact, in spite of the unsettling effects of recent legislation. The advent of Government and Corporation housing schemes had exercised a disturbing influence on the building trade, but their own experience showed that building societies could operate successfully with the two other parties. After commenting on _ the rebuilding taking place in Dunedin, the speaker concluded by stating that tenants and owners could be found for “ all the houses erected here.” Mr J. Scurr seconded the motion, which was carried. Messrs J. Y. Love and J. H. F. Hamel, retiring directors, were reelected. A vote of thanks was unanimously passed to Mr J. Y. Love for his services as president, and Mr T. J, Hussey was welcomed as the incoming president.

AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyright SYDNEY, March 21. With the slackening of European tension buyers to-day showed increased confidence. Most of the leading industrial shares were substantially- firmer, and base metal concerns, particularly Broken Hill stocks, participated in thd improvement.

SHARE QUOTATIONS Press Association—By Telegraph—Copyright LONDON, March 21. (Received March 22, at 11 a.m.) Share quotations: Clutha River, buys era Is 7}d, sellers Is 10jd; Molyneux River, buyers Is IJd, sellers Is 4Jd.-

Buyers. Sellers. £ s. d. £ 8. d. N.Z. GOVERNMENT LOANS— 3£ p.c. Stock, Nov., 1938-S2 103 0 0 3li p.c. Stock, March, 1939-43 ... 100 10 0 3i p.c. Stock, Sept., 1939-43 ... ... ... 100 10 0 3 j p c. Stock, May, 1939-52 102 10 0 — 4 p.c. Bonds, 1943-46 102 10 0 4 p.c. Bonds, 1946-49 104 0 0 — 4 p.c. Stock, 194649 — 104 10 0 4 p.c. Bonds, 1952-55 104 0 0 — '4 me. Stock, 1952-55 104 0 0 — 3£ p.c. Bonds, 1953-57 97 15 0 — 3i p.c. Stock, 1953-57 97 15 0 — BANKING— New South Wales • (£20) ... 32 5 0 New Zealand (£1) ... 2 3 6 E.S. and A. (£3) ... 5 2 6 — National of New Zealand (£2 10s) ... 2 13 6 Union of Australia Ltd. (£5) — 8 17 6 INSURANCE— National (7s) 0 17 3 Standard (£1) 2 18 6 — SHIPPING— Howard Smith (£1) ... I 2 3t Huddart, Parker (ord., £1) 2 5 0* _ Huddart, Parker (pref., £1) 1 7 6* _ P. and O. Deferred Stock (£1) — 1 7 0 U.S.S. Co. (pref.,.£l) 1 6 10 — MEAT .PRESERVING— N.Z. Refrigerating (paid, £1) i ' 0 18 0 — N.Z. Refrigerating (cont., 10s) 0 B 0 0 8 3 Southland Frozen (paid, £1) ... ... — 1 8 6 South Otago Freezing (£5) —. 5 16 0 Waitaki Farmers’ Freezing (£5) ... ... 3 15 0 — LOAN AND AGENCY— Goldsbrough, Mort (£1) 1 10 0 1 11 0 National Mortgage 6 (£2) — 2 0 N.Z. Loan and Mercantile (ord., £100) — 45 0 0 Otago Farmers’ Co-op (3s 4d) 0 2 9 •— Trustees, Executors, and Agency (£2) 3 IS 0 — Wright, Stephenson 9 (pref., £1) ... ... 1 0 — COALKaitangata (16s) ... — 1 10 0 Westport (10s) 1 3 2 1 3 6 GAS — Christchurch (£1) 1 7 6 1 8 6 WOOLLEN COMPANIES— Wellington (ord., £5) — 5 8 6 MISCELLANEOUS— Anthony Hordern (£1) Associated News (£1) 0 18 6 — 1 2 9 Australian Foundation Trust — 0 5 6 Australian Glass (£11 British Tobacco (£1) — 4 11 0 2 8 3t — Broken Hill Proprietary (£1) 3 0 3 3 X 0 Broken Hill Proprietary (cont.) 1 10 6 — Brown, Ewing (ord., £1) — 1 0 6 Colonial Sugar Co. (£20) 45 10 0 46 5 0 Crystal Ice Co. (£1) ... 2 1 0 — D.I.C. (ord., 10s) ... — 0 15 0 D.I.O. (pref., £1) ... 1 3 9 —- Dominion Fertiliser (£1) 1 3 6 Dominion Fertiliser Debs. 102 0 0 Dominion Rubber (£1) — 1 5 6 Dunedin Stock Exchange Proprietary (£1) ... 2 2 0 — Dunlop Perdriau Rubber (£1) — 1 3 Of Felt and Textiles (£1) — 1 16 61 G. J. Coles (£1) ... 4 0 6 4 1 9 Hume Pipe (£1) 0 19 6 1 0 6t Kauri Timber (£1 5s) — 1 2 0 M’Kenzie’s Dept. Stores (£1) — 3 11 6 M’Leod Bros. (£10) ... _ 29 10 0 Mort’s Dock (£1) ... — 0 10 6 Moturoa Oil (pref.. 5s) 0 5 0 National Electric (£1) 0 15 6 N.Z. Drug Co. (£2) ... 3 12 ot — N.Z. Paper Mills (£1) Regent Theatre (£1) — 1 6 0 0 19 0 Taranaki Oil (£1 4s 7d) 0 6 0 0 6 6 Woolworths (ord., 5s) 1 1 3 Woolworths (Sydney, ord., .5s) 1 1 6 1 2 6 1 BREWERIES— New Zealand (£1) _ 2 6 0 Dominion (£1) 1 IS 6 Dunedin (£1) 110 6 — OVERSEAS LIST— Woolworths (South Africa) ... 0 15 9 — OVERSEAS MINING— Broken Hill South (5s) 1 11 9 1 12 9* Electrolytic Zinc (pref., £1) — ' 2 8 0* Electrolytic Zinc (ord., £1) 2 4 0 2 5 0* Mount Lyell (£1) ... 1 9 9 1 10 3 Mount Morgan (2s 6d) 0 9 6 1 10 0 Mount Morgan (pref.. 4s) 0 5 5 0 5 6 North Broken Hill 5s) 2 11 6 2 12 6t Placer Development ... — 3 18 0 GOLD MINING— Big River (Is) 0 1 0 Clutha River (2s) ... — 0 2 9 Gillespie’s (Is) 0 0 10 — Grey River , ... 0 12 0 — Mossy Creek (Is) 0 1 0 — 9 > Okarito (5s) — 0 2 Waipapa Beach (Is) —- 0 0 2 Waitahu (5s) 0 1 0 UNLISTED STOCKS— All stocks in this section are not quoted on the official list, and transactions are subject to a different rate of brokerage. Mackintosh Caley Phoenix (£1) — 0 10 0 A. and T. Burts (pref., £1) 0 11 0 0 13 0 Carbonic Ice 1 2 0 — Security Finance — 0 14 0 { Cum div., ex bonus, 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 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. 4.0115 3.9709 O.D. 4.0215 3.9809 Montreal— Dollars to £1 N.Z. .. T.T. 4.0333 4.0008 O.D. 4.0453 4.0048 Belgium— Bel gas to £1 N.Z. .. T.T. 23.899 23.586 O.D. 23.971 23.626 Czechoslovakia— Korunas to £1 N.Z ,. T.T. 113.17 O.D. *113.22 Denmark— Kroner to £i 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. 185.35 173.25 Franco— Francs to £1 N.Z. .. T.T. 132.18 123.68 O.D. 129.72 Germany— Reichsmarks to £1 N.Z. ... T.T. — 9.868 O.D. — 9.873 Greece— Drachmae to £1 N.Z .. T.T. — 429.54 O.D. — 429.84 HollandFrancs to £1 N.Z. .. T.T. 7.313 7.163 O.D. 7.355 7.167 Italy— Lire to £1 N.Z. ... T.T. — 75.56 O.D. «• 75.61 Java— Florins to £1 N.Z. ., T.T. 7.287 7.137 O.D. 7.327 7.141 Norway— Kroner to £1 N.Z. .. T.T. 16.181 15.891 O.D. 16.241 1S.897 Noumea— Francs to £1 N.Z. .. T.T. 133.43 128.43 O.D, 128.47 Papeete— Francs to £1 N.Z. .. T.T. 133.28 128.48 O.D. 128.52 Sweden— Kroner to £1 N.Z. ... T.T. 15:801 15.506 ' O.D. 15.861 15.512 Switzerland— Francs to £1 N.Z. ... T.T. 17.584 17.294 O.D. 17.669 17.299 Chefoo— N.Z. pence to 1 dollar .. T.T. iaam 17 59-64 O.D. ' 17 29-32 Hongkong— N.Z. pence to 1 dollar ... T.T. 18 25-64 18 47-64 O.D. 18 21-64 18 47-64 India and Ceylon— N.Z. pence to 1 - rupee ... T.T. 22 3-8 22 21-32 O.D. 22 11-32 22 21-32 Japan— N.Z. pence to 1 yea ... , ... T.T. . . 17 7-16 O.D. 17 7-16 Manila— N.Z. pence to 1 peso ... ... T.T. 29 21-32 30 5-32 O.D. 29 9-18 30 5-32 Shanghai— N.Z. pence to 1 dollar ... .. T.T. 18 3-64 O.D. — 18 3-64 Singapore— N.Z. pence to 1 dollar ... T.T. 34 17-32 35 1-64 O.D, 54 7-16 35 1-64 DOLLAR RATES. The Associated Banks (other than the Bank of New South Wales) quoted the fUlowing dollar rates to-day on a New Zealand currency basis. They are subject to alteration without notice J— U.S.A CANADA. (Per £1 N.Z.) (Per £1 N.Z.) SELLING— T.T. (dol) ... 3.97 11-16 4.00 1-8 O.D. (dol) ... 3.98 1-8 4.00 1-2 BUYING— O.D. (dol) ... 4.02 4.04 1-2

r £ s. d. Colonial Sugar ... 46 2 6 Ba,nk of New South Wales 32 0 0 Commercial of Sydney 21 0 0 Commercial of Australia ... 0 16 H’ National Bank (£10 paid) 14 0 0 Bank of Australasia 10 0 0 Mercantile Mutual (New Zealand delivery) ... 1 11 « Howard Smith ... 1 2 Burns Philp ... 2 14 6 Australian Gas (A) 7 6 3 (B) .7 7 6 British Tobacco ... 2 9 0 Tooths ... ... 2 16 0 Tooheys ... , 1 11 a Woolworths ... 1. 6 9 Australian Glass ... 4 11 0 Dunlop Perdriau ... ... 1 2 9 Farmers 1 11 6 Lustre ... 1 2 6 General Industries ... 0 19 3 Mort’s Dock 0 10 0 Felt and Textiles 1 15 9 Peters ... • •• Ml 2 14 0 Mark Foy ... * 1 3 3 Victoria Nyanza ... 0 15 a Goldsbrough, Mort ... ... 1 10 9 Electrolytic Zinc ... ... ... 2 6 0 (pref.) 2 8 6 Mount Lyell ... 1 10 4* Broken Hill Pty. ... ... 3 1 6 South Broken Hill 1 IS 0 North Broken Hill 2 12 0 Kuala Karupar . ... .. 0 16 3 Rawang ... ••• 0 9 0 Larut 0 13 6 Tongkah Harbour . 0 13 0 MELBOURNE, MArch 21, Expectations of improved quotations from London brought an improved tone on the local market but the turnover was light. Loloma were prominent in the gold section, with good buying. £ 8. d. Howard Smith 1 2 3 Coles ... 4 1 6 Dunlop Perdriau ... 1 2 9 Goldsbrough, Mort ... 1 11 0 Electrolytic Zinc (pref.) ... 2 8 3' Mount Morgan ... TTt 0 9 10 Mount Lyell ... 1 10 3 Broken Hill Pty. ... ... ..i 8 0 9 North Broken Hill ... 2 12 3 South Broken Hill ... 1 12 9 Emperor ••• ... 0 13 r Loloma 1 3 10$