Investment Market To-day

Evening Star, Issue 23128, 30 November 1938, Page 8

Investment Market To-day

AUSTRALIANS HESITANT B.H.P.'S MARKED DOWN MACDUFFS ORD. OFFERED AT 6/-

A hesitant tone marked investment

operations this morning, and with the exception of two or three sections, buying support was exceptionally poor. Movements were of minor variation only, but an easier trend appeared in several leading transtasman issues. Continued weakness in New York and in the metal market was reflected in the market for Australians. Business was slightly better, however, and was fairly well spread. Government loans remained weak with further losses recorded, the ’39-43s declining 2s 6d on a vendor’s market, and the new 4 per cents., ’49-52, slipping ss. Banking issues were slack. New Zealaads were uncertain with a weaker undertone, while the best offer sellers of Nationals could attract was 2s away at £2 7s. Australian issues remained depressed. Insurance scrip received better attention, the only conspicuous movement being in Nationals, which were on offer at the recent sale price of 15s 9d. Industrial issues tended to ease. Broken Hills, reflecting overseas conditions, dropped sharply to unanswered vendors £2 16s 9d. Coles were quoted' wide on an easy market, while I.C.T.’s prefs. failed to attract a buyer. ‘ Otago Daily Times ’ were hesitant, vendors displaying a willingness to lower limits to effect business. Macduff's Ltd. (ord.) were on offer at 6s. Australian mining stocks were easier. Buyers of Lyells fixed limits below the £1 8s mark, while cautious levels ruled for Barriers.

SALES REPORTED. —This Morning.— Australian Commonwealth Stock, 1944, £lOl 7s 6d. Rural Bonds, £9B 15s. New Zealand Breweries, £1 18s 6d. Broken Hill South, £1 7s 9d. SALE ON CHANGE. —This Morning.— Wright, Stephenson (pref.), 19s. SALES AFTER CALL. —Late Yesterday.— New Zealand Drug, £3 5s (2).

DIVIDEND AND CALL LIST.

DIVIDENDS DUE. National Bank of Australasia —Interim at 6 per cent, per annum Nov. 30 Swan Brewery—Ordinary and preference, 6d a share Nov. 30 Anthony Hordern —Preference, at per cent., and ordinary, at 5 per ‘cent, per annum ... .... Nov. 30 Taringamutu - Totara Timber— Final 4g per cent., making 7 per cent, per annum Dec. I Henry Jones Co.-op. Ltd., Melbourne —Is 6d a share Deo. 1 Dunedin Brewery—lnterim, 3 per cent Bee- 1 Victoria Laundry, Wellington—lnterim, 2£ per cent Dec. I Clutha Kiver Dredge—lnterim, Jd (sterling, less British income tax) Dec. 3 Victoria Nyanza Sugar cent, per annum Dec. 7 Consolidated Brick and Pipe Investments, Auckland—lnterim, at 4 per cent., cum Dec. 7 North Broken Hill Quarterly, 6d a share Dec. 8 Loloma (Fiji) Gold Mines—ls per share (iS T o. 3) ... Dec. 8 Bank of N.Z. share, ord., 3| per cent, on D long term mortgage shares ... Dec. 10 New Zealand Breweries Ltd.—lnterim, 4 per cent. Dec. 10 Woolworths (IS.Z.) Ltd. Final, ord., at 11 per cent, per annum Dec. 13 Broken Hill South —6d a share ... Dec. 15 P. and O. Deferred—Final, 2* per cent., bonus 3 per cent Dec. 15 Mount Lyell—Final, Is a share ... Dec. 19 Morris, Hedstrom, Fiji—lnterim, 3 per cent Dec.

THE TIN INDUSTRY STATISTICS FOR EIGHT MONTHS According to the October issue of the Statistical Bulletin, just published by The Hague office of the International Tin 'Research and Development Council, world tin production in August, 1938, amounted to 10,800 tons, making a total for the first eight months of this year of 105,000 tons (128,000 tons in the same period last year). Production in September, 1938, is estimated at 10,100 tons (19,400 tons), of which the signatory countries produced 7,700 tons (10,900 tons). World apparent tin consumption inAugust, 1938, amounted to 11,500 tons, against 10,100 tons in the preceding month and 16.500 tons in August, 1937. Consumption in the first eight months of this year, at 102,300 tons (129,300 tons) was 21 per cent, below' the figure for' the first eight months of 1937. In the United States there was a decrease of 41 per cent, to 33,998 tons, and in'"the United Kingdom of 35 per cent, to 11,790 tons. In Russia and Canada consumption decreased by 10 per cent. In Germany there was ail increase of 13 per cent, to 8,878 tons, in Italy of 54 per cent, to 3.294 tons, and in Poland of 5G per cent, to 1,287 tons. •

DUNEDIN STOCK EXCHANGE THIS MORNING'S CALL LATEST QUOTATIONS Buyers. Sellers. £ s. d. £s. d. N.Z. GOVERNMENT LOANS—

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

ANTWERP FUTURES Press Association—By Telegraph—Copyright LONDON, November 29. (Received November 30, at 11 a.m.) Antwerp futures are steady. December, 23d; March, 23|d; May, 23|d. SHARE QUOTATIONS Press Association —By Telegraph—Copyrigln LONDON, November (Received November 30, at 1 p.m.) Share quotations: Clutha River—buyers Is Gd (ex div.), sellers Is 9d; Molyneux—buyers "Id, sellers 10Jd. THE FRANC Press Association —By Telegraph—Copyright LONDON, November 29. (Received November 30, at 11 a.m.) The franc is quoted at 178-i.

AUSTRALIAN STOCK EXCHANGES

Press Association—By Telegraph—Coypright

SYDNEY, November 29. Sharp falls in metal prices had a depressing effect on the Stock Exchange to-day, and Broken Hills fell to the lowest point for many weeks. Industrial shares were traded quietly, with an easier tone.

MELBOURNE, November 29. Leading industrials are easier owing to continued hesitance overseas. Bonds remained firm, but Fijian gold shares were weaker and oil prospecting stocks out of favour. £ s. d.

DOLLAR AND STERLING

Press Association—By Telegraph—Copyright

LONDON, November 29. (Received November 30, at 1 p.m.) Sterling exchange, London on New York, 4.66}.

November 28 4.64} November 25 4.64} November 24 ... 4.66} November 23 4.66} November 22 ... 4.67} November 21 4.70 November 19 4.70} November 18 4.71} November 17 ... 4.70 November 16 4.69 J November 15 ... „. ... 4.69} November 14 ... 4.73| November 12 4.73 J November 11 4.74} November 10 4.74| November 1 4.755-lfl October 1 4.82 J September 28 ... 4.63 September 27 ... 4.73 September 1 4.85'13-16 August 2 4.903 July 1 4.95| June 1 ... ... ... 4.94| May 2 4.9811-Id April 1 ... 4.94 f March 1 6.02

London on New York, during 1937 averaged 4.95 dollars to £1 sterling; on August 2, 1938, 4.90|; on September 1. 4.85 13-16; but declined to as low as 4.63 to the £ on September‘2B. During October the rate varied between 4.78} (October 4) and 4.75$ (October 21).

4- p.c. Stock, Nov., 1949-52 3-r, p c. Stock, March, 1949-52 ... p.c. Stock, Sept., 1939-45 3 p.c. Bonds, 1939-41 3 p.c. Stock, 1939-41 4 p.c. Stock, 1946-49 4 p.c. Bonds, 1952-55 95 0 0 95 0 0 99 0 0 97 15 0 98 0 0 98 0 0 98 17 6 BANKING— Australasia (£5) ... ‘New South Wales (£20) New Zealand (£1) ... Commercial (10s) Commercial (pref., £10) National of N.Z. (£2 10s) Union of Australia Ltd, (£5) 29 0 0 2 0 6 2 7 0 10 0 0 2 11 0 16 2 9 14 0 2 9 0 8 10 0 INSURANCE— National (7s) New Zealand (£1) ... South British (£1) ... Standard (£1) 2 11 0 2 10 0 0 15 9 2 3 6 SHIPPING— P. and 0. Deferred Stock (£1) U.S.S. Co. (pref., £1 - 1 11 0 16 0 MEAT PRESERVING— N.Z. Refrigerating (paid, £1) Southland Frozen (paid, £1) South Otago Freezing (£5) - 0 18 0 1 10 0 5 0 0 LOAN AND AGENCY— Goldsbrough, Mort (£1) Otago Farmers’ Co-op (3s 4d) Perpetual Trustees (18s) Wright, Stephenson (ord., £1) Wright, Stephenson (pref., £1) 0 2 9 0 18 9 18 9 0 3 6 2 10 0 12 9 0 19 6 COAL— Kaitangata (16s) Wcstport-Stockton (ord., 10s) Westport-Stockton (pref., 10s) 0 6 6 18 0 ■0 4 6 0 7 3 OIL— Moturoa Oil (pref., 5s) — 0 5 0 WOOLLEN COMPANIES— Bruce (ord., £1) Oamaru (£1) 0 6 0 0 10 0 — MISCELLANEOUS— Associated News (pref., £1) Australian Foundation Trust Broken Hill Pty. (£1) Brown, Ewing (ord., £1) Brown, Ewing (pref., £1) Crystal Ico Co. (£1) D.l.C. (pref., £1) ... Dominion Fertiliser (£1) G. J. Coles (£1) ... I.C.I. (pref., £1) ... Macdufls Ltd. (ord., £1) Milburn Lime and Cement (£1) N.Z. Drug Co. (£2) ‘ Otago Daily Times (£H Smith and Smith (pref., £1) Woolworths (Sydney, ord., 5s) 1 17 0 13 0 3 18 0 3 4 0 2 0 0 10 6 13 6 0 5 0 2 10 9 0 19 0 116 1 19 6 13 6 1 4 0 3 19 6 13 0 0 6 0 1 15 0 3 6 0 2 2 0 12 0 113 BREWERIES— New Zealand (£1) ... Dunedin .(£1) X v,™ 1 19 0 15 0 OVERSEAS LIST— Woolworths (South Africa) — 0 14 10 OVERSEAS MINING— Broken Hill South (5s) Electro. Zinc (pref., £1) Electro. Zinc (ord., £1) Emperor Mines, F.ji (10s) Mount Lyell (£1) ... Mount Morgan (2s 6d) Mount Morgan (pref., £1) North Broken Hill (5s) Rawang Tin (10s) ... 2 4 6 17 9 1 1 0 2 7 0 18 9 2 7 6 0 10 6 19 3 09 7 0 9 0 N.Z. MINING— Austral N.Z. (£1) ... Big River (Is) Gillespie’s (Is) Molyneux River (2s) Nokomai (5s) Sandhills (Is) 110 0 0 11 0 o’ 6 0 0 2 Oil 0 10 0 16 0 0 3

A. and T. Burt’s (pref., £1) 0 11 0 0 12 6 Dunedin Ice Creaip ... 1 2 0 1 10 0 Wool worths Properties (£l) 1 5 1 1 5 7

£ S. d. Bank of N.S.W 29 14 0 Commercial Banking of Sydney . 20 7 6 Queensland National Bank 4 18 9 Colonial Sugar 47 10 0 United Insurance 10 5 0 British Tobacco 2 7 9 Tooths 2 14 9 Coles 3 19 .3 Australian Iron and Steel (pref.) 1 8 6 Australian Glass 5 2 6 Dunlop Perdriau 1 0 6 Hume Pipe ... ... ... 0 19 6 Carpenter 2 2 0 Gordon and Gotch 2 10 9 Mauri Bros 3 6 6 Atkins 1 2 6 Masonite 0 18 9 Woolworth 1 1 0 Grim ley 1 2 0 Nestles (pref.) ( 4 6 3 Imperial Chemicals (pref.) 1 3 0 Electrolytic Zino ... ... 2 5 0 Mount Morgan 0 9 4 Broken Hill Pty 2 16 0 Kuala Kampar ... ... 0 17 6 Taranaki Oil 0 11 0

Commercial Bank of Australia 0 16 0 E.S. and A. Bank ... . 5 7 0 National Bank (£5 paid) ... 6 14 0 British Tobacco 2 8 0 Carlton Brewery 3 7 0 Coles 3 19 0 Drug Houses 1 3 0 Australian Glass 5 2 0 Dunlop Perdriau 1 0 6 Felt and Textiles .... 1 11 6

Goldsbrough Mort ... • •• 1 ,8 3 ‘ Herald and Times * ... 2 19 3 Henry Jones ... ... ... 2 10 9 Electrolytic Zinc ... ... 2 5 0 Electrolytic Zinc (pref.) 2 8 0 Yarra Palls 1 16 9 Mount Morgan 0 9 6 Mount Lyell 1 8 0 Broken Hill Pty. ... ... 2 16 0 North Broken Hill 2 7 6 Broken Hill South 1 8 1 Emperor 0 10 0 Loloma ... 1 2 I