Investment Market To-day

Evening Star, Issue 22953, 10 May 1938, Page 6

Investment Market To-day

BRIGHTER TONE COALS BETTER SUPPORTED COLONIAL SUGARS WANTED AT £49 5/A slightly better undertone, marked operations on the local market this morning, but movements were restricted. Buyers were in the majority for transtasraan issues at fractionally better prices, but holders preferred either to remain off or to raise limits. Some New Zealand issues had a brighter inquiry, and were well supported. Business remained comparatively poor. Banks received poor attention, although values remained firm. New Zealands were marked up 3d on a buyers’ market to £2 4s 3d, but the only other two quoted issues revealed no change. Coals-continued in demand. Kaitangatas had -firm buyers, while Westports gained another 3d to finish with buyers at £1 4s, their best market for some months. Transtasman industrials registered a slight gain, with buyers more numerous. Broken Hill Proprietaries were marked up 9d, while the contributings came on to the list after a short absence at buyers £1 16s 3d. Australian Glass remained firm oh a buyers’ market, Colonial Sugars gained 10s to an inquiry at £49 ss, while G. J. Coles showed a slight advance. Hume Pipes spurted to a best buyer 3d up at 18s lOd, but even at this,advance holders were not attracted. Dominion industrials were quiet. Taranaki Oils had buyers and business at 7s 6d, vendors asking 2d more. N.Z. Paper Mills rights, after' transactions late yesterday at 2s 6d and 2s, closed steady to-day between those prices, while the ordinary shares, cum div. and rights, were on offer at £1 5s 6d. Regent Theatres had a steady inquiry at 19s. Those Australian mining issues which did not advance yesterday to-day fell into line with the gains recorded by other stocks. Mount Lyells had buyers back at £1 6s 6d, holders moving up to £1 7s. Mount Morgans gained 4d to finish at unanswered buyers 8s 9d, while Barriers remained steady. , SALES REPORTED. —Late Yesterday.— N.Z. Paper Mills, £1 ss. N.Z. Paper Mills (rights), 2s 6d. • Woolworths (Sydney, ord.)_, £1 2s 4d. Nokomai, Is 7d. —This Morning. ; Bank of New Zealand, £2 4s 6d. Westport Coal, £1 4s 3d. Taranaki Oil, 7s fid. SALES ON ’CHANGE. —Late Yesterday.— . N.Z. Paper Mills (rights), 2s. —This Morning. Woolworths Properties Ltd. (rights), ,3s 6d. SALES AFTER CALL. —Late Yesterday.— 3£ per cent. Stock, 1938-5!2, £lO3 7s 6d. Taranaki Oil, 7s sd. Woolworths Properties Ltd. (rights), 3s 7d.

DIVIDENDS DUE. Mosgiel Woollen—lnterim, 4 per cent May 13 E.S. and A. Bank —Interim, 3i per cent, (less English income tax) May 16 National Insurance Company— Interim, 4d a share May 17 Younghusband and Co. —Final, 5 per cent., making 10 per cent, per annum . ... May 17 Donaghy’s Hope and Twine— Final, Is a share May 18 Dalgety and Co.-Interim, 3s a share at rate of 6 per cent. per annum May 20 N.Z. Paper Mills —Final, 4 per cent., making 7 per cent, per annum May 19 Dunedin Brewery and Wilson Malt Extract—Final, 4 per cent., making 7£ per cent, per annum May 24 Bank of New South Wales— Quarterly, at 6 per cent, per annum May 26 Loloma (Fiji) Gold Mines —Is per shares May 27 Farmers’ Trading Co., Auckland— Finals A and B pref. 5 3-5 per cent, per annum, C pref. 5 per cent, per annum May 31 Imperial Chemicals Ltd. —Final 5j per cent., making per cent. per ahnum June 1 Henry Jones Co-op.—lnterim, 6d a share June 1 Broken Hill Pty.—Half-yearly, Is 3d and on new shares 2J,d per share, Australian currency ... June 1 Taringamutu Timber —per cent June 1 Swan Brewery, Western Australia —Ord 6cl and bonus 3d a share; pref June 1 Dominion Fertiliser Co.—6 per cent, per annum June 7 Bank of N.Z—Final Is a share, or 10 per cent, per annum ... June 10

DOLLAR RATES. Tho Associated Banks (other than the Bank of New South Wales) quoted tho following dollar rales to-day on a New Zealand currency basis. They are subject to alteration without notice:— U.S.A. CANADA. (Per £1 N.Z.) (Per £1 N.Z.) SELLING— T.T. (dol) ... 3.99 4.01 1-2 O.D. idol) ... 3.99 3-8 4.01 15-16 BUYING— O.D. (dol) ... 4.03 5-16 $.05 15-16

DUNEDIN STOCK EXCHANGE THIS MORNING'S CALL LATEST QUOTATIONS

DOLLAR AND FRANC Press Association—By Telegraph—Copyright LONDON, May 9. (Received May 10, at 11 a.m.) The dollar is quoted at 4.97 J. The franc is quoted at 177|.

FOREIGN EXCHANGES ON NEW ZEALAND CURRENCY BASIS Tho Bank of New South Wales, Dunedin, quoted the following rates for purchase and sales of foreign exchanges (all rates subject to alteration without notice): —

A.M.P. SOCIETY SUCCESSFUL NEW ZEALAND OPERATIONS “As regards the society’s operations in New Zealand, I am happy to state that we have enjoyed a very successful year. New assurances, totalling over £6,000,000 were placed on the branch books of the ordinary department—a record for the branch,” said Mr J. 6. Duncan, at the eighty-ninth annual meeting of the Australian Mutual Provident Society, in Sydney. In common with the success achieved by the ordinary department, the industrial organisation had also another year of record business in the shape of over £1,000,000 of new assurance. It is also pleasing to report that total void business for the year in the two departments showed a decline on that for the previous year, and the position relating to preventable waste business is very well in hand. The society’s total assets have now reached the formidable sum of over £120,000,000. Of this amount, between £19,000,000 and £20,000,000 are invested in New Zealand, mainly in Government securities, local body loans, and in mortgages on farms and residential properties..

Buyers. Sellers. £ s. d. £ 8. d. N.Z. GOVERNMENT LOANS— 3i p.c. Stock, Nov., 1938-52 ... 103 5 0 103 10 0 34 p.c. Stock, March, 193943 — 100 10 0 3s p.c. Stock, May, 1939-52 102 10 0 — 5i p.c. Stock, May, 194-1-52 102 10 0 34 p.c. Stock, Nov., 1941-52 102 10 0 — 4 p.c. Bonds, 194346 102 0 0 — 4 p.c. Stock, 194346 102 0 0 — 4 p.c. Bonds, 194649 102 2 6 —- 4 p.c. Stock, 1946-49 102 2 6 — 4 p.c. Bonds, 1952-55 104 5 0 — 4 p.c. Stock, 1052-55 104 5 0 — 34 p.c. Bonds, 1953-57 98 0 0 — 3| p.c. Stock, 1953-57 98 0 0 — BANKING— New Zealand (£1) ... 2 4 3 ■ Commercial (10s) 0 18 3 0 16 ,5 National of New Zealand (£2 10s) 2 13 0 2 14 0 INSURANCE— National (7s) ... ... 0 17 6 Standard (£1) 2 17 0 2 18 6 SHIPPING— Huddart, Parker (ord., £1) 2 4 3 — Huddart, Parker (pref., £1) 1 8 3 — P. and O. Deferred Stock (£1) 1 6 0 — U.S.S. Co. (pref., £1) 1 7 0 ““ MEAT PRESERVING— N.Z. Refrigerating (paid, £1) 0 18 6 — N.Z. Refrigerating (cont., 10s) 0 8 2 0 8 4 Southland Frozen (paid, £1) — 1 8 9 South Otago Freezing (£5) 5 7 0 — LOAN AND AGENCYGoldsbrough, Mort (£1) 1 10 0 National Mortgage (“ B ” Issue, £1) 1 12 0 — N.Z. Loan and Mercantile (ord., £100) — 38 0 0 N.Z. Guarantee Corp. (3s) 0 4 4 _ Trustees Executors and Agency (£2) 3 15 0 — Wright, Stephenson (pref., £1) 1 i 0 — COALKaitangata (16s) 1 9 6 — Westport (10s) ... 1 4 0 — Westport-Stockton (ord., 10s) 0 2 8 0 3 3 Westport-Stockton (pref., 10s) 0 5 9 _ WOOLLEN COMPANIES— Wellington (ord., £5) — 5 8 0 MISCELLANEOUS— Anthony Hordern (£1} — 0 18 6 Associated News (pref., .£1) 1 3 10 __ Australian Foundation Trust 0 4 0 0 4 6 Australian Glass (£1) 4 13 0 Australian Iron and Steel (pref., £1) ... 1 7 0 British Tobacco (£1) 2 8 0 Broken Hill Prop. (£1) :. ... 3 0 9 Broken Hill Prop. (cont.) 1 16 3 ... Brown, Ewing (pref., £1) ... ... 1 0 9 Consolidated Brick (£1) 0 8 ■9 0 9 0 Colonial Sugar Co. (£20) 49 5 0 . D.I.C. (ord., 10s) ... — 0 14 9 D.I.O. (pref., £1) ... 1 3 3 Dominion Fertiliser (£1) I 4 11 Dominion Fertiliser Debs. 102 0 0 Donaghy’s Rope and Twine (£1) —. 2 7 0 Dunedin Stock Exchange Pty. (£1) 2 2 0 Dunlop Perdriau Rubber (£1) G. J. Coles (£1) ... 1 2 6 — 4 1 6 Hume Pipe (£1) 0 18 10 Milburn Lime and Cement (£1) M‘Kenzies Dept. 1 16 0 1 18 0 Stores (£1) — 3 10 0 Mort’s Dock (£1) ... — 0 11 0 Moturoa Oil (ord., 5s) — 0 5 0 Moturoa Oil (pref., 5s) — 0 5 0 N.Z. Drug Co. (£2) 3 7 0 3 7 9 N.Z. Paper Mills (£1) — 1 5 6 N.Z. Paper Mills (rights) ‘ Otago Daily Times ’ 0 2 0 0 26 (£1) 2 7 6 Regent Theatre (£1) 0 19 0 — Smith and Smith (pref., £1) 1 0 0 — Taranaki Oil (£1 4s 7d) ... 0 7 6 0 7 8 Woolworths (ord., 5s) 1 1 0 1 2 0 Woolworths (Sydney, ord., 5s) 1 .2 0 — BREWERIES— New Zealand (£1) ... — 2 5 3 Tooth’s (£1) 2 17 0 — OVERSEAS LIST— Woolworths (South Africa) 0 15 7 — OVERSEAS MINING— Broken Hill South (5s) 1 10 0 — Electro Zinc (pref., £1) 2 5 9 2 6 9 Electro. Zinc (ord., £1) ....... 2 1 3 2 2 0 Mount Lyoll (£1) ... 1 6 6 1 7 0 Mount Morgan (2s 0 8 9 6d) — North Broken Hill (5s) 2 7 6 — Placer Development 3 11' 0 — GOLD MINING— Big River (Is) 0 1 0 0 1 3 Clutha River ;2s) ... 0 2 3 0 2 9 Gillespie’s (Is) — 0 0 11 Grey River — 0 12 6 Molvneux River (2s) 0 1 3 — Nemona (Is) 0 1 6 — Nokomai (5s) 0 1 5 0 2 0 Sandhills (is) 0 0 li — UNLISTED STOCKS— All stocks in this section are not quoted on the official list, and transactions are subject to a different rate of brokerage:Snowhite Laundries 0 10 0 0 17 6 Woolworths Properties Ltd. (rights) — 0 3 6

London— £100 stg. N.Z Buying. Selling. 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. 4.0241 3.9594 O.D. 4.0341 3.9934 Montreal— Dollars to £1 N.Z T.T. 4.1484 4.0159 O.D. 4.1804 4.0199 Belgium— Belgas to £1 N.Z . T.T. 23.963 23.653 O.D. 24.038 23.664 Czechoslovakia— Korunas to £1 N.Z . T.T. 114.38 - O.D. — 114.43 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. 185.35 179,2; France— .Francs to £1 N.Z. . T.T. 141.08 O.D. — . 141.12 Germany— Reichmarks to £1 N.Z. T.T. 9.878 O.D. — 9.803 Greece— Drachmae to £1 N.Z . T.T. 429.54 O.D, _ 429.84 Holland— Florins to £1 N.Z . T.T. 7;325 7.175 O.D. 7.363 7.177 Italy— Lire to £1 N.Z. ... .. . T.T. 75.80 O.D. _ 75.85 J ava— Florins to £1 N.Z. . T.T. 7.295 7.145 O.D. 7.335 7.149 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. 139.83 O.D. 139.87 Papeete— Francs to £1 N.Z. ... .. . T.T. 139.88 O.D. — 139.92 Sweden — Kroner to £1 N.Z. ,. T.T. 15.788 15.493 O.D. .15-848 15.499 Switzerland— Francs to £1 N.Z. .. T.T. 17.673 17.403 O.D. 17.778 17.408 Hongkong— N.Z. pence to 1 dollar . T.T. 18 21-64 18 45-64 O.D. 18 19-64 18 45-64 India and Ceylon— N.Z. pence to 1 rupee ... ., .. T.T. 22 1-8 22 13-32 O.D. 22 3-32 22 13-32 Japan— i N.Z. pence to 1 yen , T.T, _ 17 1-2 O.D. _ 17 1-2 Manila — N.Z. pence to 1 peso ... ... ,. T.T. 29 35-64 30 3-64 O.D. 29 29-64 30 3-64 Singapore— N.Z. pence to 1 dollar ... . .. TT. 34 21-64 34 1316 O.D. 34 15-64 34 1316