Investment Market To-day

Evening Star, Issue 22974, 3 June 1938, Page 6

Investment Market To-day

AUSTRALIAN MINING RECOVERS

INDUSTRIALS SHOW LITTLE CHANGE A welcome recovery, although hut slight, marked operations in transtasman mining issues this morning. Industrials displayed little appreciable change, while New Zealand stocks were lethargic. liusiness was poor, two of the three transactions being in Australian stocks. Government loans were steady, but banking issues remained quiet, with poor support. New Zealands finned to buyers £2 4s 4d, but holders were not attracted. Insurances were inactive, although South British had an inquiry at £2 Cs 6d. Coal stocks received a good inquiry, Westport-Stocktons (pref.) having firm buyers at 6s. Commonwealth industrials received but passing attention. Sydney Woolworths had inquiries at yesterday’s sellers’ price of £1 0s 9d, vendors today asking £1 Is. Dunlop Rubbers were wanted at £1 0s 7d, while Felt and Textiles eased further to holders £1 11s 6d. Dominion industrials displayed little activity. .New Zealand Paper Mills had reported business at £1 Is, unanswered vendors offering at £1 Is 6d. Taranaki Oils were steady, Dominion Fertilisers closed between £1 5s 3d and £1 5s 9d (the first declared seller for some time), while Stock Exchange Proprietary shares were offered at £2 6s, buyers not being interested. ■ Apart from a fractional recovery in Barriers, there was little of note in Australian mining stocks. Mount Lyells climbed back to business with ■ buyers at £1 3s, sellers fixing. their limits. 3d away, while Rawang Tins came in for attention between 8s 2d and 8s 6d. SALES REPORTED. , —Late Yesterday.— Mount Lyell, £1 2s 6d. Mount Morgan, 8s Bd. —This Morning.— New Zealand Paper Mills, £1 Is. SALE ON ’CHANGE. —This Morning.— Mount Morgan, 8s 9d. SALE AFTER CALL. —This Morning.— Mount Lyell, £1 3s.

STOCK EXCHANGE INDICATOR

Government Loans Firm Banks Ctuiet Insurance Steady Shipping Unchanged Meat Preserving Quiet Coal Good inquiry Woollen Little interest Aust. Industrials Stable N.Z Industrials Little change Breweries v Inactive Aust, Mining Firmer

DIVIDENDS DUE. National Reliance Invest. Trust, Melbourne—6 per cent June 6 M'Kepzies Department Stores— At 18 per cent, per annum ... June 7 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 Placer Development (Canadian) and Bulolo Gold ' Dredge, l.SOdol (Canadian) ... June 10 Waihi Grand Junction—4d a share, free of tax June 14 N.Z. Breweries—Final, 44 per cent., making 84 per cent, per annum ... June 15 Broken Hill South—lnterim, 9d a share June 15 Wilsons Cement—Final, 44d a share, or 74 per cent, per annum ... June 15 Mount L.yell—lnterim, 6d a share .June 20 Australian Glass—Pref., 44 per cent., ord., 4 per cent., plus 5 per cent. June 20 North Broken Hill—6d a share ... June 28 Morris, Hedstrom —3 per cent., making 6 per cent, per annum, plus bonus 24 per cent June 30 Kauri Timber—lnterim at 5 per cent, per annum June ~ National Mortgage and Agency Company—lnterim 24 per cent. July 1 THE RESERVE BANK ASSESTS AND LIABILITIES [Pbb United Pbess Association, i WELLINGTON, June 2. The ‘ Gazette ’ issued to-night contains the following statement of liabilities and assets of the Reserve Bank of New Zealand as at the close of business on May 30. The figures at the close of the previous weetk are given for purposes of comparison', shillings and pence being omitted; — LIABILITIES.

DUNEDIN STOCK EXCHANGE THIS MORNING'S CALL LATEST QUOTATIONS

IMPORTATION OF ONIONS PERMISSIBLE UNDER PERMIT (Per United Press Association.] WELLINGTON, June 2. Acting on the recommendation of the Onion Marketing Advisory Committee, which has made a careful analysis or the stock position, the Government has decided to allow the importation of onions from countries in the Northern Hemisphere on vessels arriving at New Zealand ports between October 5 and November JO. The importations are to be subject to permits by the Minister of Customs, and will be granted to importers who apply to the Department of Agriculture.

FOREIGN EXCHANGES ON NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following rates tor 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 rates to-day on a New Zealand currency basis. They are subject to alteration without notice:—

I. Last week. £ 1,500,000 This week. £ 1,500,000 2. Bank notes .... 14, 001,121 13,816,733 3. Demand liabilities— 4,606,372 4,089,057 (b) B nits 7,128,403 7,343,018 (c) Other 224,905 204,163 4. Time Deposits — — 0. Liabilities in currencies other than New Zealand currency G. labilities ... ... 297,232 297,271 Total £27,241,440 CO S3 s? 7. ASSETS. Reserve— la) Gold 2,801,791 2,801,791 (b) Sterling exchange 18,121,614 18,278,993 (c) Gold exchange — 227,184 8. Subsidiary coin 227,009 9. Discounts— a) Commercial and agricultural bills _ mm (b) Treasury and local body bills „ 10. Advances — (a) To State or undertaking* (D Primary Products Market *ing Department 3,253,920 3,775,712 (2) hot other purposes ... (b) 1o other public authorities (c) ’Other ... ... — 11. Investments 2,735,564 2,735,564 12. Bank building- — — 13. Olhei H-*st|s 101,534 Total £27.241,440 £27,887,658 Proportion of reserve (No. 7 less No. 5) to notes and oiler demand 'labilities ... .»■ ... * 82.232% 80,79^

Bu yer Sellers. £ c . d £ s. d. N.Z. GOVERNMENT LOANS3J p.c. Stock, Nov., 1938-52 ... 101 15 0 — p.c. Stock, May, 1953-52 101 0 0 — 3J p.c. Stock, May, 1941-52 ... .. ... 101 0 0 ■— 5i p.c. Stock, Nov., 1941-52 101 0 0 —> 4 p.c. Bonds. 1943-46 102 10 0 — 4 p.c. Stock, 1943-46 102 10 0 — 4 p.c. Bonds, 1946-49 102 10 0 — 4 p.c. Stock, 1946-49 102 10 0 — 4 p.c. Bonds, 1952-55 104 4 p.c. Stock, 1952-55 104 0 0 104 10 0 0 0 104 10 0 31 p.c. Bonds, 1953-57 98 0 0 — 3£ p.c. Stock, 1953-57 98 0 0 “ BANKING— New Zealand (£1) ... 2 4 4 — Commercial (10s) — 0 16 0 National of New Zealand (£2 10s) ... 2 11 9 2 12 9 Union of Australia * Ltd. (£5) 8 0 0 INSURANCE— National (7s) .. ... 0 17 7 — New Zealand (£1) ... 2 17 6 ; 2 18 6 South British (£1) ... 2 6 6 — SHIPPING— Huddart, Parker (ord., £1) — 2 6 0 Huddart, Parker (pref., £1) 1 8 0 — P. and O. Deferred Stock (£1) 1 3 6 —- U.S.S. Co. (pref., £1) 1 6 0 1 7 0 MEAT PRESERVING— N.Z. Refrigerating 0 (paid, £1) — 0 19 N.Z. Refrigerating 8 (cont., 10s) 0 3 — South Otago Freezing (£5) — 5 12, 0 LOAN AND AGENCYGoldsbrougb, Mori 0 (£1) ... ... ... ... — I 10 N.Z, Loan and Mercantile (ord., £100) Otago Farmers’ Co-op. — 39 0 0 (3s 4d) 0 2 9 — Wright, Stephenson (pref., £1) — 1 I 3 COAL— Kaitangata (16s) ... 1 7 0 1 8 0 Westport (10s) 1 4 0 — Westport-Stockton 9 (ord., 10s) ... ,1. 0 2 — W estport-Stockton 6 (pref., 10s) ... ... 0 0 “ WOOLLEN COMPANIES— Bruce (ord., £1) 0 5 3 —. Bruce (pref., £1) — 1 1 6 Wellington (ord., £5) — 5 8 0 MISCELLANEOUS — Anthony Hordern (£1) .... — 0 17 7 Australian Foundation Trust ... ... 0 4 0 0 5 0 Australian Glass (£1) — 4 13 0 Bond’s Hosiery — 0 17 0 British Tobacco (£1) — 2 8 3 Broken Hill Proprietary (COnt.) ...i; ... : 1 16 0 -ff' Brown, Ewing - (pref., £1) 1 0 9 — Consolidated Brick (£1) — 0 9 0 Colonial Sugar Co. (£20) — 47 10 0 D.I.C. (pref., £1) ... 1 3 3 — Dominion Fertiliser (£1) 1 5 3 1 5 9 Dominion Fertiliser (Debs) 102 0 0 — Donaghy’s Rope and a Twine (£1) — 2 0 Dunedin Stock Ex2 0 change Prop. (£1) — 6 Dunlop Perdnau Rubber (£1) 1 0 7 — Felt and Textiles (£1) «— 1 11 6 G. J. Coles (£1) ... — 4 2 0 Hume Pipe (£1) ... — 0 19 9 Hays Ltd 0 16 3 — M’Kenzies Dept. 0 Stores (£1) r— 3 7 Mort’s Dock (£1) ... •— 0 10 6 National Electric (£1) — 0 14 6 N.Z. Paper Mills (£1) ... — 1 i 6 ‘ Otago Daily Times 2 6 (£1) MW 7 Regent Theatre (£1) 1 0 0 — Taranaki Oil (£1 4s 7d) 0 8 9 0 8 11 Woolworths (ord., Ss) — 1 X 0 Woohvorths (Sydney, 0 9 ord., 5s) 1 1 1 0

BREWERIES— New Zealand (£1) ... 2 19 2 2 6 Dunedin (rights) ... — 0 3 6 OVERSEAS LIST— Wool worths (South Africa) ... 0 16 0 L ■ OVERSEAS MINING— Broken Hill South (5s) 1 17 0 Electrolytic Zinc (pref., £1) . 2 0 0 2 2 0 Electrolytic Zinc (ord., £1) 1 16 0 1 17 0 Mount Lyell (£1) ... 13 0 13 3 Mount Morgan (2s 6d) 0 8 8 0 8 10 North Broken Hilt (5s) 1 19 0 __ Placer Development 3 12 0 — Rawang Tin (10s) ... 0 8 2 0 8 6 GOLD MINING— Big River (Is) ... ... ~ 0 12 Clutba River (2s) ... ■ — 0 2 7 Gillespie’s (Is) — 0 0 11 Goldfields Dredging (Is) 0 0 2i 0 0 4 Martha (5s) ... ... — 0 12 3 Nokomai (5s) 0 19 ■ — : Paddy’s Point (5s) 0 0 4 — ■ Sandhills (Is) 0 0 2i 0 0 3 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 9 0 A. and T. Burts (pref., £1) ..; ... 0 12 0 0 13 0 Woolworths Properties Ltd (rights) 0 3 10 0 3 11 Hogg and Co. (ord.) 0 2 6 . 0 5 6 Hogg and Co. (pref.) — 0 15 0 Blackball Creek 0 1 2 —

Buying. Selling. London— £100 sfcg. N.Z X.T. £124 £124 10/ Q.D. £123 10/ i £124 8/9 Australia— £A to £100 N.Z T.T. £101 1 £100 10/ Fiji— £F to £100 £90 7/6 £89 N.Z T '.T. New York— Dollars to £1 N.Z. T.T. 3.9979 3.9633 O.D. 4.0079 3.9673 Montreal— Dollars to El N.Z T.T. 4.0399 4.0074 O.D. 4.0519 4.0114 Belgium— .Belgas to £1 N.Z. T.T. 23.695 23.385 O.D. 23:770 ,23.396 Czechoslovakia — Korunas to £1 113.57 N.Z T.T. , — O.D. — 113.62 Denmark — Kroner to £1 18.203 17.893 N.Z. ... T.T. O.D. 18.263 17.899 Finland — Marks to £1 185.15 179.35 N.Z. T.T. O.D. 185.55 179.45 France— Francs to El - 141.58 N.Z T.T. ■ O.D. — 141.62 Germany— ' Reichmarks to £1 9.828 N.Z. ... . T.T. — ■ O.D. — 9.833 Greece — Drachmae to £1 429.54 N.Z. ... . T.T. . — O.D. ■ — ■ 429.84 Holland— Florins to £1 7.305 7.155 . N.Z. T.T. O.D. 7.345 7.159 Italy— Lire to £1 75.55 N.Z. ... : T.T. — O.D. — ■ 75.40 Java — Florins to £1 7.283 7.133 N.Z. T.T. O.D. 7.323 7.137 Norway— Kroner to £1 16.182 15.892 N.Z. T.T. O.D. 16.242 15.898 Noumea — Francs to £1 140.33 N.Z T.T. — O.D. — 140.37 Papeete— Francs to £1 140:38 N.Z T.T. — O.D. — 140.42 Sweden— Kroner to £1 15.785 15.490 N.Z. T.T. O.D. 15.845 15.496 Switzerland— Francs to £1 N.Z. T.T. 17.633 17.363 O.D. 17.738 17.368 Hongkong— N.Z. pence to 1 18 3-8 18 3-4 dollar T.T. O.D. 18 11-32 18 3-4 India and Ceylon— N.Z. pence to 1 21 31-32 rupee T.T. 22 1-4 O.D. 21 15-16 22 14 Japan— N.Z. pence to 1 T.T. 17 1-2 yen ... O.D. — 17 1-2 Manila— N.Z. pence to 1 29 49-64 peso ... . T.T. 30 17-64 O.D. 29 43-64 30 17-64 Singapore-^ N.Z. pence to 1 34 47-64 dollar T.T. 34 1-4 O.D. 34 5-32 34 47-64

U.S.A. CANADA. SELLING— (Per £1 N.Z.) (Per £1 N.Z.) T.T. (dol) . .. 3.96 3-8 4.00 11-16 0;D. (dol) . .. 3.96 1316 4.01 1-8 BUYING— T.T. (dol) . .. 4.00 11-16 4.05 1-8