Investment Market To-day

Evening Star, Issue 22955, 12 May 1938, Page 18

Investment Market To-day

NEW YORK SHARE INDEX DOW JONES AVERAGES

AUSTRALIAN STOCK EXCHANGES Press Association —By Telegraph—Copyright SYDNEY, May 11. Irregularity was noticeable among industrials on the Stock Exchange today. The volume of business was heavy and the tone of the market remained strong. Pastoral shares were traded freely round late levels, £ s. d.

DIVIDENDS DUE. Mosgiel Woollen—lnterim, 4 per cent May. 13 Kaitangata Coal—2s 6d a share ... May 13 E.S. and A. Bank —Interim, 3£ per cent, (less English income tax) May 16 Penial and Medical —5 per cent. per annum May 16 Nemona Dredge—2d (free of income tax) May 16 National insurance Company— Interim, 4d a share May 17 Bycroft Ltd. —Final, 4 per cent. May 17 Vounghusband 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 N.Z. Paper Mills—Final, 4 per cent., making 7 per cent, per annum May 19 Dalgety and Co.—lnterim, 3s a share at rate of 6 per cent. per annum ... May 20 Tui Brewery—lnterim, 5 per cent. May 21 Dunedin Brewery and Wilson Malt Extract—Final, 4 per cent., making 7£ per cent, per annum May 24 P. and O. Deferred—lnterim, 2£ per cent May 24 Bank of New South WalesQuarterly, at 6 per cent, per annum May 26 Equitable Building and Investment—Final, 2 per cent., making 4 4-5 per cent, per annum May 26 Lol<>"'i (Fiji) Gold Mines —Is per share May 27 Wes. it Coal —Interim, 6d per share 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 51 Union Steam Ship—Pref., interim, 2J per cent May 31 Imperial Chemicals Ltd.—Final sj per cent., making SI, per cent, per annum June 1 Henry Jones Co-op.—lnterim, 6d a share June 1 Broken Hill Pty.—Half-yearly, Is 3d and on new shares 2£d per share, Australian currency ... June 1 Taringamutu Timber—2j 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 r.er cent, per annum . June 10 Broken Hill South—lnterim, 9d a share June 15 Mount Lyell—lnterim, 6d a share June 20 ,

EXCHANGE STEADY AUSTRALIAN MINING WAVERING LITTLE BUSINESS PASSING Australian mining scrip 'showed a wavering tendency at this morning’s callover, and several issues had a slight drop. Mount Lyells went back to £1 6s 3d on buyers’ quotation, sellers demanding 4d more. A sale took place on ’Change at £1 6s 4d. Declines were also recorded in Broken Hill Proprietary, which went back 6d on buyers’ offerings, but there were no sellers. Similarly Broken Hill contributing declined 3d, there again being no sellers. Broken Hill South and Electrolytic Zinc (ordinary) showed a slight gain in value. Otherwise late rates were generally maintained. _ Banks and insurances were quiet, and neither buyers nor sellers’ calls were answered. In the miscellaneous section British Tobacco moved up 3d, buyers standing 3d away. New Zealand Drug receded to the extent of 3d, and a sale was reported at £3 7s 6d. A sale was also reported in Associated News, preference issue, while buyers to-day offered £1 3s 9d. Government stocks interested buyers only, there being many offerings, but sellers maintained a stout silence. SALES REPORTED. —Late Yesterday.— New Zealand Refrigerating (cont.), 8s 4d (2). New Zealand Drug, £3 7s 6d. Woolworths Properties Ltd. (rights), 3s 6d. ■—This Morning.— New Zealand Drug, £5 7s 6d. Associated- News (pref.), £1 4s. SALES ON ’CHANGE. —Late Yesterday.— New Zealand Paper Mills (rights), Is 9d. Woolworths Properties Ltd. (rights), 3s 6d. —This Morning.— Mount Lyell, £1 6s 4d. Woolworths Properties Ltd. (rights), 3s 6d. SALES AFTER CALL, —Late Yesterday.— Australian Foundation Trust, 4s sd. Mount Lyell, £1 6s 7d, . Quotations as under:— Buyers. Sellers. £ s. d. £ b. d.

UNLISTED STOCKS— All stocks in this section are not quoted on the official list., and transactions are subject to a different rate of brokerage:—

FOREIGN EXCHANGES ON 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 1 to alteration without notice):-; Buying. Selling. London—

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. (PerfilN.Z.) (PerfilN.Z.)

Eailroads. Industrials Turnover ... 23.48118.52 980.000 May 9 ... 23.19 117.93 1,040,000 May 9 ... 23.50 119.43 1,020,000 May 7 ... 22.64 117.21 560,000 . May 6 ... 22.90 117.16 1,020,000 May 5 ... 21.57 113.46 690,000 May 4 ... 21.51 113.88 550,000 May 3 ... 21.45 112.70 470.000 May 2 Apf. 28 ... 20.95 110.09 350,000 ... 21.21 111.98 540,000 Apl. 27 ... 27.73 115.25 420,000 Apl. 26 ... 21.83 113.94 440,000 Apl. 25 ... 22.09 116.23 400,000 Apl. 21 ... 21.33 115.40 600,000 Apl. 20 ... 21 26 114.90 780,000 Apl. 12 1938. ... 22.40 113.88 600,000 Highest ... 32.33 134.35 Lowest 1937 ... 19.00 98.95 Highest ... 64.86 194.40 Lowest ... 28.01 113.64

Bank of New South Wales Commercial Banking of 32 7 6 Sydney Commercial Bank of Aus21 2 0 tralia 0 16 6 Bank of Australasia 10 3 0 Colonial Sugar . Mercantile Mutual Insur49 10 0 ance 1 10 0 Adelaide Steam 1 15 0 Burns, Philp ... 2 15 6 British Tobacco ... 2 9 0 Tooheys Australian Iron and Steel 1 12 6 (pref.) 1 8 0 Australian Glass ... ... 4 15 3 Anthony Horderns 0 18 9 Lustre Hosiery ... 1 2 6 General Industries 0 19 n General Industries (pref.) 1 4 6 Hume Pipe _ 0 19 9 Newbold Brick 1 12 0 Mauri Bros. ... 3 9 0 Goldsbrough, Mort 1 11 1 Winchcombe, Carson 1 9 0 Wilcox, Mofflin ... 0 7 1 Henry Jones ... 2 9 9 Producers and General 0 7 1 Hackshalls ... 0 13 4 W. Adams 0 16 0 W. Atkins 1 2 6 Mount Morgan ... ... ... 0 8 11 Mount Lyell 1 6 9 Hawang 0 9 0 Taranaki Oil 0 7 9 MELBOURNE, May 11. The market is inclined to be easier, with a light turnover. a little £ 3. d. National Bank (£5 paid) Australian Paper Manu7 0 6 facturers (pref.) Australian Paper Manu1 5 0 facturers (cont.) 0 19 3 British Tobacco 2 8 6 Carlton Brewery ... ... 3 6 0 G. J. Coles ... ... 4 2 6 Australian Glass ... ... 4 14 9 Dunlop Perdriau 1 2 6 Dunlop Perdriau (pref.) ... 1 18 0 Cox Bros.' ... 0 16 4 Mount Lyell ... 1 6 lOi Broken Hill Proprietary ... 3 1 9 South Broken Hill ... ... 1 11 0 Emperor ... ... ... ... 0 11 9 Loloma ... ... ... ... 1 2 7i

N.Z. GOVERNMENT LOANS34 p.c. Stock, Nov., 1958-52 103 5 0 34 p.c. Stock, May, 1939-52 102 10 0 34 p.c. Stock, May, 1941-52 ... 102 10 0 ■ _ 54 p.c. Stock, Nov., 1941-52 ... 102 10 0 4 p.c. Bonds, 194346 102 5 .0 _ 4 p.c. Stock, 194346 102 5 0 4 p.c. Bonds, 1952-55 104 5 0 ■ _ 4 p.c. Stock, 1952-55 104 5 0 _ 34 p.c.' Bonds,- 1953-57 98 0 0 _ 3| p.c. Stock, 1953-57 98 0 0 ' — BANKING— Australasia (£5) ... 9 15 0 New South Wales (£20) . ... ... ... — New . Zealand (£1) ... 2 4 3 32 10 0 New Zealand, Long “D” (£1) 1 9 3 Commercial (10a) ... — 016 5 Commercial of Sydney (£12 10s) ... 20 5 0 E.S. and A, (£3) ... — 5 "o 0 National of New Zealand (£2 10s) ... — 2 13 9 INSURANCE— National (7s) 0 17 7 Standard (£1) ... ... — 2 18 6 SHIPPING— Huddart, Parker (ord., £1) 2 4 6 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 (paid, £1) 0 18 6 N.Z. Refrigerating (cont.,' 10s) 0 8 2 Southland Frozen (paid, £1) 1 7 6 1 8 9 South Otago Freezing (£5) 5 7 0 LOAN AND AGENCY— Goldsbrough, Mort „ (£i) • i io 0 1 10 9 N.Z. Loan and Mercantile (ord., £100) 36 0 0 N.Z. Guarantee Corp. (3s) 0 4 4 Trustees.Executors and Agency (£2) ... ... 3 15 0 Wright, Stephenson (pref., £1) 1 1 0 ■ ~ COAL— Kaitangata (16s) ... 1 10 0 ' Westport (10s) ... 1 4 0 Westport-Stock ton (ord., 10s) 0 2 Westport-Stockton (pref., 10s) ... ... 0 5 8 0 3 3 9 WOOLLEN COMPANIES— Wellington (ord., £5) 5 8 0 _ MISCELLANEOUS— Anthony Hordern (£1) 0 18 0 0 18 9 Associated News (pref., £1) 1 5 9 Australian Foundation Trust 0 4 3 Australian Glass (£1) 4 12 8 British Tobacco (£1) 2 8 3 2 1 6 Broken Hill Prop. (£1) :. ... 3 0 6 Broken Hill Prop. (cont.) ... 1 16 9 Brown, Ewing (pref., £1), ... ... 1 0 9 Colonial Sugar Co. (£20) ... 49 0 0 Crystal Ice Co. (£1) — 2 "e 6 D.I.C. (ord., 10s) ... — D.I.C. (pref., £1) ... 1 3 3 0 14 9 Dominion Fertiliser (£1). 1 5 0 Dunedin-Kaikorai Trams (£1) 1 5 0 Dunedin Stock Exchange Pty. (£1) 2 2 0 Felt and Textiles (£1) 1 12 3 Hume Pipe (£1) ... 0 19 0 Miiburn Lime and Cement (£1) ... ... 1 16 0 I 18 0 • M'Kenzies Dept. Stores (£1) — 3 9 3 N:Z. Drug Co. (£2) 3 7 0 N.Z. Paper Mills (£1) - 1 5 0 N.Z Paper Mills (rights) _ ‘ Otago Daily Times ’ 0 2 0 (£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 2 0 7 7 Woolworths Pty. (rights) ... ... — Woolworths (Sydney, 0 3 6 ord., 5s) ... 12 1 1 2 5 Bonds Hosiery ... ... — 0 17 0 BREWERIES— New Zealand 1 (£1) ... 2 4 9 2 5 6 OVERSEAS LIST— Woolworths (South Aft ica) «, ... 0 16 1

OVERSEAS MINING— Broken Hill South (5s) 1 10 s Electro Zinc (pref., £1) 2 6 0 Electro. Zinc (ord., £1) ... 2 1 9 — 9 Mount Lyell (£1) ... 1 6 3 1 6 Mount Morgan (2s 6d) ..._ ... 0 8 9 0 8 11 North Broken Hill (5s) ... ... _ 2 8 9 Placer Development 3 11 0 — GOLD MINING— Big River (Is) 0 1 0 Clutha River (2s) ... 0 2 6 — Gillespie’s (Is) 0 0 9 0 0 11 Grey . River .., ... 0 11 9 0 12 6 Martha (5s) ... ,... — 0 13 6 Molvneuz River (2s) 0 1 6 Nemona (Is) ... ... 0 1 6 — Nokomai (5s) ... ... Paddy’s Point (5s) Sandhills (Is) 0 1 6 0 2 0 0 "o li 0 1 0 0 0 3 . Waipapa Beach (Is) — 0 0 1 Waitahu (5s) ... ... — 0 1 0

Self ridges (£1) 0 U 0 — Blackball Creek 0 10 0 19 Suowhito Laundries 0 10 3 0 17 3

£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 £89New York—' Dollars to £1 3.9890 N.Z. ,. T.T. 4.0235 O.D. 4.0335 3.9930 Montreal— Dollars to £1 N.Z ,. T.T. 4.0478 4.0153 O.D. 4.0598 4.0193 Belgium— Belgas to £1 N.Z „ T.T. 23.935 23.625 O.D. 24.010 23.636 Czechoslovakia— Korunas to £1 113.91 N.Z .T.T, — O.D, — 113.96 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. 185.35 179.2. France— Francs to £1 141.01 N.Z. ... .. . T.T. — O.D. — 141.05 Germany— Reichmarks to £1 N.Z; ... .. . T.T. — . 9.872 O.D. . — 9.877 Greece— Drachmae to £1 N.Z. . T.T. — 429.54 O.D, ■' — 429.84 Holland— Florins to £1 N.Z. T.T. 7.518 7.168 O.D. 7.358 7.172 Italy— Lire to £1 75.84 N.Z. . T.T. — O.D. — 75.89 JavaFlorins 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 £1 139.76 N.Z. . T.T. O.D. — 139.80 Papeete— Francs to £1 N.Z. ... .. . T.T. — 139.81 0;D. ’—' 159.85 Sweden — ; Kroner to £1 N.Z. „ T.T. 15.789 15.494 O.D. 15.849 15.500 Switzerland— Francs to £1 N.Z. .. T.T. 17.693 17.423 O.D. 17.798 17.428 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 ,5-64 22 25-64 Japan— N.Z. pence to 1 . T.T. 17 1-2 . yen . — 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 ... . .. T.T. 34 19,-64 34 25-32 O.D. 34 13-64 !34 25-32

SELLING— T.T. (dol) .. 3.98 15-16 4.01 7-16 CT.D, (dol) .. . 3.99,3-8 , 4.01 7-8 BUYING— OJ). (dol) .. .. 4.03 14 4.0S 7-8