Commerce, Mining, Finance

Evening Star, Issue 23175, 26 January 1939, Page 11

Commerce, Mining, Finance

ANOTHER QUIET GALL INQUIRY FOR GOVERNMENT STOCK BANK OF NEW ZEALANDS RECEDE There was a continuance this morning of the strong inquiry that has been accorded Government stock, the prices ruling being the same as during the past few days. The sales were more evenly distributed than yesterday, but the market was lifeless generally. A sale was recorded of Bank of New Zealands at 395, representing a decline on the previous price of 39s 9d. Commercials were in ready demand at 15s 9d, but Nationals of New Zealand iver* without support, sellers offering at 47s 9d. . , There was a reported sale of Nationals in the Insurance section at 15s Bd, the market having a further buyer at this price. A better inquiry was shown for New Zealand Refrigerating issues, but the remainder of the market displayed little alteration on yesterday's quotations. SALES KEPORTED. National Insurance, 15s Bd. Mount Morgan, 10b 2d (2). —Late Yesterday.— Dominion Fertiliser, £1 2s. SALES ON 'CHANGE. Bank of New Zealand, £1 19s.

' DIVIDEND AND CALL LIST. “ DIVIDENDS DUB. Imperial Chemical Industries of Australia and N.Z.—Pref., first half-yearly, at 5 per cent, per annum ... ...' Jan. 51 Smith ‘ and Smith—Half-yearly, 2} per cent. ... Jan. 31 Joseph Nathan and Co. Ltd.— Ord., Id per cent, per annum ... Jan. 31 Farmer and Co., Sydney—lnterim half-yearly, Ist pref., .3 per cent., 2nd pref., 3f per cent. ... Jan. 31 British Tobacco —Quarterly pref. at 61 per cent, per annum •... Jan. 31 New Zealand Insurance CompanyInterim, Is,a share.; ... ... Feb. 8 Commercial Bank of. -Australia—- , Interim . pref., ..at rf.j per .pent, per annum, and interim ofd. at 6 2-3 per cent.' per annum ... Feb. 10 Mount Morgan cent, per annum ... • ... Feb. 15 Woolworths . (Sydney)—lnterim, 5 per cent, on paid, 10 per cent. on pref. ... ... ... ... Feb..ls Queensland National Bank —Interim, 4i per cent, per annum Feb. 16 Electrolytic Zinc -r- Half-yearly ofd. and pref., 6 per cent. ... Mar. 17 Christchurch Gas—lnterim, 4 per cent. CALL DUE. Imperial Chemicals—Pref., con., Ss a share ... ... Jan. 31 FOREIGN EXCHANGES ON NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following rates for purchase and .sales of foreign exchange fall rates subject to alteration without notice):—

DUNEDIN STOCK EXCHANGE THIS MORNING'S CALL LATEST QUOTATIONS

FOREIGN EXCHANGES (British Official Wireless.) Press Association—By Telegraph—Copyright RUGBY, January 25. (Received January 26, at 11 a.m.) Paris, franc to £1 176 33-64 New York, dollar to £1 Montreal, dollar to £1 4.70 5-8 Brussels, belgas to £1 27.65 Geneva, francs to £1 20.71| Amsterdam, florins to £1 ... ... 8.64^ Milan, lire to £1 88 7-8 Berlin, reichmarken to £1 11.69 Stockholm, kroner to El ... ... 18.42 i Copenhagen, kroner to £1 ... 22.40 Oslo, kroner to £1 ... 19.90 Vienna, schillings to £1 26J) Prague, crowns to £1 136 1-8 HeUingfors. marks to £1 226 J Madrid, pesetas to £1 ... »„■ ... nominal Lisbon, escudos to £1 ... 110$ Athens, drachmae to £1 ... ... 547 J Bucharest, lei to £1 660 Belgrade, dinars to £1 ... ... ggg Warsaw, roubles to £1 24.46 Rio de Janeiro, pence to milreis 31-16 Buenos Aires, pence to dollar ... 20.321 Montevideo pence to dollar ... 18J Bombay pence to dollar 17 59-64 Hongkong, pence to dollar ... ~. 15 Shanghai, pence to dollar ... gj Yokohama, pence to dollar ... 14 Batavia florins to £1 8.641

DOLLAR RATES. The Associated Banks (other than the Bank of New South Wales) to-day quoted the following dollar rates on a New Zealand currency basis They are subject to alteration without notice:—

! FRUIT AND PRODUCE MARKET BARE OF BANANAS N.Z. LEMONS REACH HIGHEST MARK FOR YEARS GOOD PRICES FOR STONE FRUIT Messrs Lovell, Bates Limited report as follows on operations in the local fruit and produce market during the week ended yesterday:— The market is bare of bananas, but a small shipment ex the Matua will arrive in a few days. The quantity will, however, be insufficient for the requirements of the trade and further supplies will not be available until the return of the Maui Pomare. The date of the vessel's arrival is uncertain, it having been further delayed on the outward trip owing to engine trouble. A small consignment of oranges ex the Port St. John was discharged at X'ort last Tuesday, and was sold immediately on arrival. A shipment of Californian oranges is due to arrive to-morrow, and a good demand is anticipated. Lemons are in short supply, with high prices ruling. A small shipment of Californian-grown is expected tomorrow. The quantities advised will not be sufficient to supply the demand. Now Zealand grown lemons have realised the highest prices this week that have been realised for many years. -The attractive prices obtained must be an incentive to growers to grow larger quantities. The supplies of stone fruit arriving are insufficient, and high prices are ruling for good quality fruit. Dessert varieties aro particularly short, and any ripe fruit arriving is eagerly competed for. Ettesburg strawberries, which are arriving in small lots, are realising high prices. Raspberries are realising high values, the supplies being particularly short this year. Jam and dessert varieties of plums are now available, Satsuma, Burbanks, and Early Orleans being available with values reasonable. Early Hales peaches are now on the market, and prices realised during the week have been satisfactory. Jam apricots are available at reasonable rates. Tomatoes are in short supply, and the market has advanced. Supplies of glasshouse tomatoes are short, _ and out-door are ripening slowly. It is expected that sufficient supplies of outdoor tomatoes will not bo available for several weeks. Supplies of vegetables are short. Cabbages, swedes, and carrots are realising high prices. Peas are reaching the market in larger quantities, and values are lower. Broad and Frencli beans are arriving in small quantities, with high, values for the latter. Cucumbers have been in heavy supply, with low prices ruling. Potatoes are arriving in sufficient quantities to meet the demand, and the market remains firm on last week's rates. New season's onions are reaching this market from Auckland and Canterbury, andl the demand is in excess of the supply. ? Prices are as follows: Apples.—Gravenstein, 10s to 13s; Beauty of Bath and Red Astrakan, 3d to 4d. Pines to 20s. Lemons to 27s Gd a case. Oranges.—Jamaican, 24s to 275. Raspberries to 15s a bucket. Bananas. —Green Samoan. 21s 6d; ripe, 235. Strawberries. —Jam to Is: dessert to Is 9Jd. Nectarines, 4s to 6s a case; crates to s}d. Grapes to 2s 2dl Tomatoes.—Glasshouse, 9d to Is; outdoor, 7d to B£d. Rhubarb, l*d. Cauliflowers to 7s 6d a sack.

Cabbage, 2s to 3s a bag; to 5s 6d a sack.

Lettuce, Is to Is 6d dozen. White turnips to Is 6d a dozen. New season’s carrots to Is fid a dozen.

Hothouse cucumbers, 4s to 6s a dozen; outside, 4s to 5s case. Broad beans to 2d per lb. French and scarlet runner beans to 7d per lb. Green peas, 2d to 3d per lb. Radishes, Is a dozen.

Honey, 101 b tin 7s. Gooseberries, Hd per lb. Local potatoes, 4s to 4s 6d a Jamaican grapefruit, 17s 6d to 27s 6d a case.

Peaches, 3s to 4s 6d a case; crates. 3d to s,id' per lb. Apricots.—Cases, 3s to ss; crates to 5d per lb. Plums.—Dessert, 3s to 4s a case; Burbanks, 2id to 4d per lb. Cherry plums, 2s 6d to 3s 6d a case. Marrows, 2d per lb. Separator butter. Is per lb. Canterbury onions, 8s 6d a bag. METAL MARKET Press Association—By Telegraph—Copyright LONDON, January 25. (Received January 26, at 1 p.m.) Following are to-day’s official (middle) quotations on the London metal market, as reported by the Australian Mines and Metal Association, compared with those of J anuary 24:

THE MONEY MARKET Press Association—By Telegraph—Copyright LONDON, January 25. (Received January 26, at 1 p.m.) London discount and short loan interest rates, day to day loans, 4 per cent.; fine trade bills, three months, 2J to 3 per cent.; bank bills, three months, 1 9-16 per cent.: bank bills, six months, If per cent, j Treasury bills, two months, 14 per cent. : Treasury bills, three months, 14 per cent. New York call money remains unchanged.

NEW GUINEA GOLD SHARES Press Association—By Telegraph—Copyright LONDON, January 25. (Received January 26, at 1 p.m.) New Guinea Gold shares are quoted at Is l,)d. SHARE QUOTATIONS Press Association—By Telegraph—Copyright LONDON, January 25. (Received January 26, at 1 p.m.) Share quotations: Clutha River—buyers Is 4£d, sellers Is 7§d; Molyneux—buyers 6d, sellers 7Jd. COMMERCIAL BANKING COMPANY HALF-YEARLY DIVIDEND DECLARED The Commercial Banking Company (S3’dney) has declared an interim dividend for the past half-year at the rate of 7 pei- cent, per annum. This dividend is payable at the company’s head office at Sydney to-morrow.

London— £100 stg. N.Z T.T., O.D. Buying. £124 7/6 £123 18/9 Selling. £125 £124 19/6 Australia— £A to £100 N.Z. ... ... O.D. £100 10/ £100 Fiji— £F to £100 N.Z O.D, £90 £88 12/6 New York— ■ Dollars to £1 N.Z. ... ... T.T. O.D. 3.7752 3.7802 3.7225 3.7235 Montreal— Dollars to £1 N.Z T.T. O.D. 3.8048 3.8135 3.7446 3.7456 Belgium— Belgas to £1 N.Z T.T. O.D. 22.417 22.492 21.877 21.882 /Czechoslovakia — Korunas to £1 N.Z T.T. O.D. “ ,107.13 107.15 Denmark— Kroner to £1 N.Z T.T. O.D. 18.227 18.287 17.695 17.697 Finland— ■Marks to £1 N.Z T.T. O.D. 186.14 186.54 176.99 177.09 France— Francs to £1 N.Z T.T. O.D. 144.46 139.46 139.48 Germany— Reichsmarks to T.T. £1 N.Z. ... O.D. - 9.199 9.201 Greece— Drachma to £1 N.Z. ... T.T. O.D. - 418.90 419.05 Holland— Florins to £1 N.Z. T.T. O.D. 7.081 7.121 6.821 6.823 Italy— Lire to £1 N.Z T.T. O.D - 70.57 70.59 JavaFlorins to £1 N.Z. ... ... T.T. O.D, 7.053 7.093 6.793 6.795 Norway— Kroner to £1 N.Z T.T. O.D • 16.209 16.269 15.712 15.715 Noumea— Francs to £1 N.Z. T.T. O.D. 149.46 135.96 138.00 Papeete Francs to £1 N.Z T.T. O.D. 148.26 136.26 136.30 Sweden— Kroner to £1 N.Z T.T. O.D 15.841 15.901 15.339 15.342 Switzerland— Francs to £1 N.Z T.T. O.D. 16.837 16.942 16.372 16.374 Hongkong— Pence to 1 dollar T.T. OD. 18 25-64 18 23-64 19 3-64 19 3-64 India and Ceylon— N.Z. pence to T.T. 1 rupee ... O.D. 22 9-64 22 7-64 22 41-64 22 41-64 JapanN.Z. pence to 1 yen T.T. O.D. - 17 45-64 17 45-64 Singapore N.Z. pence to 1 dollar ... T.T. O.D. 34 15-32 34 13-32 55 5-16 35 5-16

Buyers. Sellers £ s. d. £ S. d N.Z. GOVERNMENT LOANS31 p.c. Stock, Nov., 1938-52 98 0 0 34 p.c. Stock, March, 193943 97 10 0 3i p.c. Stock, Sept., 1939-43 97 10 0 — 4 p.c. Bonds, 1943-46 98 10 0 4 p.c. Stock. 1943-46 98 10 0 4 p.c. Bonds, 1946-49 98 10 0 4 p.c. Stock, 1946-49 98 10 0 99 10 0 Rural Bonds 98 0 0 BANKING— Australasia (£5) — 9 15 0 New Zealand (£1) ... 1 18 9 1 19 0 Commercial (10s) 0 15 9 Com. of Sydney (£12 10 10s) ... , ... — 21 0 National of N.Z. (£2 10s) — 2 8 0 Union of Australia 6 Ltd. (£1) — 8 12 INSURANCE— National (7s) 0 15 6 — South British (£1) 2 2 0 — Standard (£1) 2 10 9 SHIPPING— U.S.S. Co. (pref.. £1) - — 1 5 0 MEAT PRESERVING— N.Z. Refrigerating (paid, £1) 0 17 0 0 19 0 N.Z. Refrigerating 8 8 (cont., 10s) 0 7 0 0 Southland Frozen (paid, £1) ... ... — 1 10 0 Waitaki Farmers’ Freezing (£5)., 4 5 0 LOAN AND AGENCY— Goldsbrough, Mort (£1) ' - — 1 9 0 National Mortgage (£2) - — 2 0 0 N.Z. Guarantee Cor* poration (3s) 0 3 10 0 4 2 Otago Farmers’ Co-op (3s 4d) — 0 3 1 Wright, Stephenson 9 (pref., £1) COAL— Westport (10s) — 1 1 3 Westport-Stock ton (ord., 10s) ... ... — 0 4 0 Westport-Stockton 6 (pref., 10s) 0 7 OIL— Moturoa (pref., 5s) — 0 5 0 Taranaki (£1 4s 7d) 0 7 9 0 8 6 WOOLLEN COMPANIES— Bruce (ord., £1) 0 7 0 — Kaiapoi (ord., 17s) 0 8 0 ”T 6 Kaiapoi (cont., 7s) ... 0 4 Oamaru (£1) U lv 0 MISCELLANEOUS— Broken Hill Proprie- ' ' tary (£1) D.I.C. (pref., £1) ... - 2 17 1 1 •6i 3 Dominion Fertiliser 1 4 6 0 (£1) G. J. Coles (£1) ••• 4 0 0 2 1 I.C.I. (pref., £1) ... 1 3 6 1 4 3 Milburn Lime and Cement (£1) — 1 15 0 M’Leod Bros. (£10) 25 10 0 — N.Z. Drug Co. (£2) ‘ Otago Daily Times (£1) - 3 4 0 _ 2 2 0 Woolworths (Sydney, 8 ord., 5s) ... ... ... 1 I BREWERIES— New Zealand (£1) ... 2 0 6 T OVERSEAS MINING— * Broken Hill South 8 (5s) ... — 1 0 Electro. Zinc (ord., 0 £1) 2 4 2 7 0 Mount Lyell (£1) ... 1 6 0 1 7 0 Mount Morgan (2s 6d) ... ... ... 0 10 0 0 10 4 North Broken Hill (5s) 2 4 0 2 7 6 Placer Development 3 15 6 — GOLD MINING— Alexander (15s) — 1 3 0 Clutha River (2s) ... — 0 2 6 Goldfields Dredging (Is) — 0 0 3 Molyneux River (2s) 0 0 6 — Nokomai (5s) 0 1 6 0 1 9 Sandhills (Is) 0 0 13 0 0 21 VVaitahu (5s) 0 0 8 0 0 11 UNLISTED STOCKS— All Stocks in this section are not quoted on the official list, and transactions are subject to a different rale of brokerage: — Mackintosh Caley Phoenix (£1) 0 5 0 — A. and T. Burts (pref., £1) on 0 0 12 6 Ballins Brewery ... — 0 12 0

SELLING— D.S.A. CANADA. (Per £1 N.Z.) (Per £1 N.Z.) T.T. (dol) , O.D. (dol) . .. 3.71 5-8 ... 3.71 15-16 3.74 3.74 1-16 5-16 BUYING - O.D. (dol) . .. 3.77 1-2 3.80 1-8

J dilUUij' 6t Jan. 24. £ s. d. Jan. 25. £ s. d. Copper— Standard, spot 42 7 6 42 5 h Forward 42 13 9 42 10 U Electrolytic, spot 48 10 0 47 10 u Forward Wire Bars— 48 15 0 48 10 0 Spot 48 15 0 48 10 0 Lead— Spot 14 3 9 14 7 6 Forward 14 8 li 14 10 7i Spelter— Spot 13 11 10i 13 10 0 Forward 13 15 7| 13 14 4i Tin— Spot 214 11 3 213 7 6 Forward Silver — 215 7 6 213 7 6 Fine, per oz 20 l-4d 20 3-16d Standard, per oz 21 7-8d 20 13-16d