Investment Market To-day

Evening Star, Issue 22954, 11 May 1938, Page 6

Investment Market To-day

BRIGHTER TONE AUSTRALIANS GAIN SLIGHTLY KAITANGATA COALS WANTED AT ft 10/Further fractional gains in transtasman issues and a few selected Dominion industrials, testified to the brighter trend in the market. Business continued almost stagnant, only one reported transaction appearing on .the sales list. Buyers remained in a slight majority,- but movements were restricted. Banks and insurances were quiet at late rates. Bank of New Zealands, cum div. Is a share, had firm unanswered buyers at £2 4s 3d. Among insurance issues, South British were wanted at £2 ss, but other stocks closed unchanged. Shipping shares, quoted on a buyers’ market, finished fractionally easier. Both issues of Huddart Parkers losing 3d. . . , , • Coal stocks again received good attention, Kaitangatas being marked up to best buyers for a considerable time at £1 10s. Westports held yesterday’s advance to buyers £1 4s. Australian industrials gained slight ground. Broken 1 Hill Proprietaries advanced 3d to between £3 Is and £3 2s, while G. J. Coles were also marked up to unanswered buyers £4 Is. Vendors of Colonial Sugars appeared at £SO, £1 above buyers’ limits. Dominion issues were inactive, although business was reported in Taranaki Oils at 7s 7d. Regent Theatres had an inquiry at 19s 3d, but holders were not attracted. New Zealand Drugs, after business late yesterday at £3 7s 6d, closed firmer between £3 7s 3d and £3 8s 3d. . . ' f Commonwealth mining had a fractionally better market. Lyells ad-’ vanced Id, Barriers displayed little change, but Morgans registered a; healthy improvement to close at 8s lOd and 9s 2d. SALES REPORTED. —Late Yesterday.— New Zealand Paper Mills' (rights), 2s. Mount Lyell, £1 6s lOd. —This Morning.— Taranaki Oil, 7s 7d. SALE AFTER CALL. —Late Yesterday.— New Zealand Drug, £3 7s 6d.

DIVIDENDS DUE. Mosgiel Woollen —Interim, 4 per cent. ... May 13 E.S. and A. Bank—lnterim, 31 por 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 Dalgaty and Co.—lnterim, 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 74 per cent, per annum , May 24 Bank of New South Wales— Quarterly, at 6 per cent, per annum May 26 Loloma (Fiji) Gold Mines—ls 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 54 per cent., making 84 per cent. per annum ... Juno 1 Henry Jones Co-op.—lnterim, 6d a share ... June 1 Broken Hill Pty.—Half-yearly, Is 3d and on new shares 2Jd per share, Australian currency ... June 1 Taringamutu Timber —24 per cent June 1 Swan Brewery, Western Australia —Ord. 6d 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

RABBITSKIN SALE KEEN COMPETITION The Dunedin Stock Agents and'Wool Brokers’ Association reports as ' follows : At the sale held yesterday there was a large attendance of buyers, competition throughout being keen, especially for racks, autumns, and winter descriptions. A few orders were on the market for the United States, and exporters operated freely for autumns, racks, early winters, etc. Furriers wore also interested, and took fair parcels. As compared with last sale, summer grades sold about par, racks and early autumns 3d dearer, lato autumns, incomings, and early winters 4d to 6d dearer. Early winter bucks sold to 58d, incoming winters to 551 cl, late autumns to 4lfd, early winter does to 40cl, second incomings to 40d. The following is the range of prices:— Summer broken, Bid to 9Jd; autumn broken, 16d to 184 d; runners, Hid to 13Jd; summers, 10Jd to lid ; smalls. 5d to 53d; light racks, 20d to 20Jd; prune racks, 20d to 20 ; dawny autumns, 20? ( d to 22d; early autumns, 25£d to 26|d ; late autumns, 38d to 414 d ; second incomings, 34-Jd to 40d; incoming winters,' 48$d to 55i-d ; early winter bucks, 54d ’to 58d; earlv winter does, 384 d to 40d; milky, 84d to 10c!; summer fawns, 10/d to 12d; autumn fawns, 183 dto 201 d; summer blacks, !Hd to I Old : autumn blacks, 16|d to 20id; hareskins, lOd to 13d; horsehair, to 25/d; ferrets, 3cl to 9d each. The next sale is scheduled for May 24. ,

DUNEDIN STOCK EXCHANGE THIS MORNING'S CALL LATEST QUOTATIONS

UNLISTED STOCKS— All stocks in this section are not quoted on the official list, and transactions are subject to a different rate of brokerage:— Woolworths Properties _ Ltd. (rights) - ... 0 3 5 0 3 6 Snowhite Laundries ‘ 010 0 01/ o 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:—

FOREIGN EXCHANGES 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): —

Buyers. Sellers. £ 8. d £ b. d. N.Z. GOVERNMENT LOANS31 p.c. Stock, May, 1939-52 102 10 0 — 3i p.c. Stock, May, 1941-52 ... 102 10 0 3i p.c. Stock, Nov., 1941-52 ... 102 10 0 —- 4 p.c. Bonds, 194346 102 0 0 — 4 p.c. Stock, 1943-46 102 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 — 3i p.c. Bonds, 1953-57 88 0 0 — 3J p.c. Stock, 1953-57 98 0 0 — BANKING— New Zealand (£1) ... 2 4 3 — Commercial (10s) ... — 0 16 S Commercial of Sydney (£12 10s) ... 20 0 0 — B.S. and A. (£3) ... 4 15 0 5 0 0 INSURANCE— National (7s) ... ... 0 17 6 — New Zealand (£1) ... — 2 19 0 South British (£1) ... 2 5 0 — 6 Standard (£1) ... ... — 2 18 SHIPPING— Huddart, Parker (ord., £1) 2 4 0 — Huddart, Parker (pref., £1) . .... ... 1 8 0 P. and O. Deferred Stock (£1) 1 6 0 — U.S.S. Co. (pref., £1) ... 1 7 0 — MEAT PRESERVING— N.Z. Refrigerating 6 (paid, £l) 0 18 — : N.Z, Refrigerating (cent., 10s) ... 0 8 2 0. 8 : 5 Southland Frozen 8 9 (paid, £1) — 1 South Otago Freezin C«5) 5 7 0 LOAN AND AGENCYNationnl Mortgage (“ B ” Issue, £1) 1 12 0 —■ N.Z. Guarantee Corp. 3 (3s) . 0 4 Trustees Executors and Agency (£2) 3 15 0 «— i Wright, Stephenson (pref., £1) ... ... 1 1 0 COAL— Kaitangata (16s) ... 1 10 0 — Westport (10s) 1 4 0 — Westport-Stockton 8 (ord., 10s) 0 2 0 3 3 W estport-Stockton 9 (pref., IQs) ... ... 0 5 — WOOLLEN COMPANIES— Bruce (ord., £1) 0 5 0 — Manawatu Knitting Mills (£1) — 1 15 0 Wellington (ord., £5) “ 5 8 0

MISCELLANEOUS— Anthony Hordern (£1) - ... 0 18 9 Associated News (pref., £1) 1 5 10 _ Australian Foundation Trust ... ... 0 4 2 0 4 6 British Tobacco (£1) 2 8 0 — Broken Hill Prop. (£1) 3 1 0 3 2 0 Broken Hill Prop, (cont.) ...■ v. 1 17 0 TBrown, Ewing ■ (pref., £1) ... 1 0 9 _ Consolidated Brick (£1) : _ 0 9 3 Colonial Sugar Co. (£20) Crystal Ice Co. (£1) 49 0 0 50 0 2 6 0 6 D.I.O. (ord., 10s) ... — 0 14 9 D.I.C. (pref., £1) ... 1 3 3 — Dominion Fertiliser Debs. 102 6 0 Donaghy’s Kope and Twine (£1) ... ... . - 2 7 0 Dunedin Stock Exchange Pty. (£1) 2 2 0 ' — Dunlop Perdriau Rubber (£1) 1 2 0 , G. J. Coles (£1) ... 4 1 0 — Hume Pipe (£1) 0 18 9 — Milburn Lime, and Cement (£1) ... ... M’Kenaies Dept. Stores (£1) ... ... 1 16 0 1 18 0 _ 3 10 0 Mort’s Dock; (£1) ... Moturoa Oil (ord., „ 5s) ... _ ... — 0 H 0 _ 0 5 0 Moturoa Oil (pref., 5s) ... 0 5 0 N.Z. Drug Co. (£2) ... 3 7 3 3 8 3 N.Z. Paper Mills (£l) ... ... 1 5 3 N.Z. Paper Mills (rights) 0 1 6 0 2 3 ‘ Otago Daily Times ’ (£1) ... 2 5 0 2 7 3 Regent Theatre (£1) 0 19 3 — Smith and, Smith' (pref., £1) 1 0 0 _ Taranaki Oil (£1 4s 7d) ■ 0 7 11 Woolworths (ord., 5s) ... 1 2 0 Woolworths (Sydney, ord., 5s) ... ... ... - 1 2 6 BREWERIES— New Zealand (£1) ... 2 4 6 2 5 3 OVERSEAS LIST— Woolworths (South Africa) ... • 0 15 9 0 16 6 OVERSEAS MINING— Broken Hill South (5e) ... 1 10 0 Electro Zinc (pref., £1) ■ 2 7 0 Electro. Zinc (ord., £1) 2 1 6 2 2 3 Mount Lyell (£1) ... Mount Morgan (2s 6d) 1 6 7 — 0 8 ii 0 9 2 North Broken Hill (5s) ... 2 7 6 2 8 9 GOLD MINING— Big River (Is) 0 1 0 0 1 3 Glutha River (2s) ... 0 2 6 0 2 9 Gillespie’s (Is) 0 0 9 0 U 11 Martha (5s) ... ... Molvneux River* (2s) 0 1 6 U 1+ D Nemona (Is) 0 1 6 0 2 0 Nokomai (5s) 0 1 S n 2 u Paddy’s Point (5s) — li 0 1 0 Sandhills (Is) 0 0 0 0 3 Waipapa Beach (Is) — 0 0 X

U.S.A. (Per £1 N.Z.) CANADA. (Per £1 N.Z.) SELLING— T.T. (dol) . O.D. (dol) . .. 3.98 13-16 .. 3.99 3-16 4.01 5-8 4.02 BUYING— O.D. (dol) .. . 4.03 1-8 4.06 1-16

Buying. Selling. London — £100 stg. £124 10/ N.Z T.T. £124 O.D. £123 10/ £124 8/9 Australia— j £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 3.9874 N.Z ,. T.T. 4.0221 O.D. 4.0321 3.9914 Montreal— Dollars to £1 N.Z T.T. 4.0472 4.0147 O.D. 4.0592 4.0187 Belgium— Belgas to £1 N.Z ,. T.T. 23.969 23.659 O.D. 24.044 23.670 Czechoslovakia — Korunas to £1 114.18 N.Z . T.T. — O.D. — 114.23 Denmark— Kroner to £1. 17.893 N.Z. ... .. .. T.T. - 18.203 O.D. 18.263 17.899 Finland— Marks to £1' 179.15 N.Z ,. T.T. 184.95 O.D. 185.35 179.2b France — Francs to £1 141.07 N.Z. ... ... . T.T. — O.D. — 141.11 Germany— Reichmarks to SI y , 9.880 9.885 N.Z. ... ... . T.T. O.D. — Greece— .Drachmae to £1 . T.T. 429.54 N.Z s — O.D. — 429.84 Holland — Florins to £1 7.318 71.68 N.Z . T.T. O.D. 7.358 7.172 Italy — Lire to £1 75.81 N.Z . T.T. — - O.D. — 75.86 Java- * Florins to £1 7.291 7.141 N.Z . T.T. O.D. 7.331 7.145 Norway — Kroner to £1 16.182 ' 15.892 N.Z . T.T. O.D. 16.242 15.898 Noumea — Francs to £1 139.82 N.Z . T.T. • O.D. — ■ 139.86 Papeete — Francs to £1 130.87 N.Z . T.T. — O.D. — 139.91 Sweden — Kroner to £1 15.788 15.493 N.Z ,. T.T. O.D. 15.848 15.499 Switzerland — * Francs to £1 17.675 17.405 N.Z. ... .. . T.T. O.D. 17.780 17.410 Hongkong— - N.Z. pence to 1 dollar . T.T. 18 19-64 18 43-64 O.D. 18 17-64 18 43-64 India and Ceylon— N.Z. pence to 1 rupee .»• .. . T.T. 22 7-64 22 25-64 O.D. 22 5-84 22 25-64 Japan— 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 30 364 O.D. 29 29-64 30 3-64 Singapore— N.Z. pence to 1 dollar . T.T. 34.19-64 34 25-32 O.D. 34 13-64 34 25-32