Commerce, Mining, Finance

Evening Star, Issue 23292, 14 June 1939, Page 6

Commerce, Mining, Finance

N.Z. INDUSTRIALS POPULAR

A FEW MORE FRACTIONAL RISES NATIONAL INSURANCES SOUGHT AT 16/9 Evidence of a slight revival of interest ivas apparent this morning, but once again the general inquiries reflected the adoption of a cautious policy. while movements were restricted. Business was poor. Feature of the call was provided by National Insurances, buyers of which marked the, scrip up again, this time jumping to 16s 9d, but even at that enhanced valuation vendors would not respond. Dominion industrials remained in the limelight, strong buyers maintaining healthy limits. Dominion Fertilisers recovered a further ed on their ex-divi-dend readjustment price, buyers advancing to £1 3s Id, Drugs, Milburn Limes, Paper Mills, Donaghys, and Wilsons Cements were a few or the lines which met a firm inquiry. Transtasman stocks were lethargic. Metals experienced a slack call, only one buyer coming on, while values showed no change. Industrial issues showed slightly more _ interest, but movements were within well-defined limits G. J. Coles had 6d better buyers at £3 17s 6d, while rights to the new issue were sought at £2 11s 6d. Sydney Woolworths changed hands on reported business at £1 4s, with the market closing steady. Felt and Textiles had purchasers willing to offer up to £1 12s, while Colonial Sugars gamed 10S ‘ SALES REPORTED. —Late Yesterday.— New Zealand Paper Mills, £1 4s 3d.

—This Morning.—

Woolworths (Sydney, ord.), £1 4s

MARKET INDICATOR Loans Banks Unchanged Insurance . Firmer Shipping Stable Meat Preserving , Steady Coal Unchanged Oil Passed Woollen Dull Aust. Industrials Steady to firmer N.Z. Industrials Strong Breweries Steady Aust. Mining ............ Unchanged

DUNEDIN STOCK EXCHANGE THIS MORNING'S GALL LATEST QUOTATIONS

DOLLAR AND STERLING Prase Association —By Telegraph—Copy rig t" LONDON, June 13. (Received June 14, at 1 p.m.) Sterling exchange, London on New York, 4.68.

London on New York during 1937 averaged 4.95d0l to £1 sterling; on August 2. 1938, 4.90|; on September 28, 4.63; and during October varied between 4.78 J and 4.75|. _ During November. 1938, the variation was between 4.76id0l (November 8) and 4.631.

FOREIGN EXCHANGES ON HEW ZEALAND CURRENCY BASIS Tho Uank of New South Wales. Dunedin, quoted the following rates for purchase and sales of foreign Exchange (all rates subject to alteration without notice)

Buyers . Sellers. £ 5. i. £ S. d. N.Z. GOVT. LOANS4 p.c. Stock, Nov., 1949-52 ... 96 0* 0 4 p.c. Stock, March, 194043. ... 99 15 0 3i p.c. Stock, March, 0 194143 ... 98 5 — 34 p.c. Stock, Sept., 88 0 194143 ... 5 — 4 p.c. Stock, 194346 — 98 5 0 4 p.c. Bonds, 194649 1 4 p.c. Stock, 1946-49 — 98 10 0 — 98 5 0 4 p.c. Stock, 1952-55 — 98 10 0 4 p.c. Stock, 1952-55 — 98 10 0 BANKING— New South Wales (£20) ... ... ... — 31 10 0 New Zealand (£1) ... New Zealand, Long — 2 u 3 “ D ” (£1) - 1 6 9 — E.S. and A. (£3) ... 5 0 0 — Union of Australia 8 Ltd. (£5) — 5 0 INSURANCE— National (7a) 0 16 9 — Standard (£1) 2 12 0 SHIPPIN G - P. and 0. Deferred Stock (£1) — 1 10 0 U.S.S. Co. (pref., £1) 1 & 0 1 6 0 MEAT PRESERVING— N.Z. Refrigerating (cont., 10s) 0 7 0 _ Southland Frozen 8 (paid, £1) —* 1 0 LOAN AND AGENCY— Otago Farmers’ Co-op. 9 (5s 4d) •— 0 2 Trustees, Executors, and Agency (£3) ... 4 0 0 — Wright, Stephenson (pref., £1) — 0 13 6 COALKaitangata (16s) 1 7 6 — Westport (10s) — 1 0 9 Westport-Stockton 0 (pref., 10s) 7 2 — WOOLLEN COMPANIES— Bruce (ord., £1) 0 10 0 0 11 0 Bruce (pref., £1) ... — 1 0 0 Kaiapoi (pref., 17s) Oamaru (£1) ... ... 0 15 0 15 3 6 MISCELLANEOUS— Australian Consol. Ind (£1) — 2 0 0 British Tobacco (£1) 2 11 0 — Broken Hill Proprietary (£1) 3 7 0 — Colonial Sugar Co. (£20) 48 10 0 — D.I.C. (pref., £1) 1 1 3 —* Dominion Fertiliser (£1) - 1 3 1 — Dominion Rubber 0 (£1). ...... ... I 0 Donkghy’s Rope and 8 Twine (£1) Farmers’ Trading ... 2 0 —• — 1 0 0 Felt and Textiles (£1) ... 1 12 0 —* G J. Coles (£1) ... 3 17 6 ■ — G. J. Coles (rights) Hume Pipe (£1) ... 211 a : 0 19 9 — Kauri Timber (£1 5a) — 1 0 Milbum Lime and Cement (£1) ... 1 146 National Electric (£1) — 0 14 3 N.Z. Drug Co. (£2) N.Z. Paper Mills (£1) 3 1 7 3 0 6' — Regent Theatre (£1) , — 1 2 0 Smith and Smith (pref., £1) 0 19 6 — Wilsons Cement (10s) ... ..,v 0 180 W'oolworths (Sydney, ord., Ss) ... ... ... 1 3 10 -..,1 > 1 Woolworths Properties , (rights) ... ... 0 2 3 BREWERIES— New Zealand (£1) ... 1 18 0 1 18 6 Dunedin (£1) 1 0 0 — OVERSEAS MINING— Broken Hill South (5s) 1 8 0 — Electro. Zinc ■ (pref., £1) — 2 15 6 Mount Lyell (£1) — 1 9 0 Mount Morgan (2s 6d) ’— 0 11 0 North Broken HUl (5s) ... ... ... ... — 2 10 0 N.Z MINING— Austral N.Z. (£1) ... 0 — 1 4 6 Big River (Is) ... 0 6 Gillespie’s (Is) 0 0 9 — Goldfields Dredging (la) — 0 0 2 Nokomai (5s) — ... 0 1 8 0 2 0 Okarito (5s) —- 0 3 0 Paddy’s Point , (5s) — 0 0 11 Sandhills (Is) ... ... . — 0 0 2 Waitahu (5s) ... ... — 0 0 9

June 12 4.68 3-8 June 9 — 4.68 3-8 June 8 ... • •• 4.68 7-16 June 7 ... 4.68 5-8 June 6 ... 4.68 3-4 June 2 ... 4.68 3-8 June 1 ... • •• 4.68 1-4 May .31 ... • •• 4.68 1-4 May 30 ... 4.68 1-4 May 22 ... 4.68 1-8 May 15 ... 4.68 1-4 May 8 ... 4.68 1-8 May 1 ... 4.68 1-8 April 3 ... March 31 4.68 4.68 7-16 3-4 March 1 4.68 3-4 February 28 4.68 1-8 February 1 4.68 3-4 January 31 4.68 1-2 January 2 4.68 7-8

London— £100 stg. N.Z. T.T. O.D. £124 7/6 £123 18/9 £125 £124 19/6 Australia— £A to £100 N.Z. ■ ... T.T. O.D. £100 10/'. £100 10/ £100 £100 Fiji— £F to £100 ' N.Z. T.T. O.D. £90 ' £90 £88 12/6 ■ £88 12/6 New York— Dollars to £1 N.Z t.t; O.D. 3.7783 ... 3.7833 3.7350 ; 3.7360 Montreal— Dollars to £1 N.Z. ■ ;... T.T. .O.D. 3.7838' .3.7925 . 3.7438 3.7448 Belgium— Bellas, to £1 T.T. O.D. 22.279, ' , 21.969 21.974 Denmark — Kroner to’ £1 N.Z. ... ... 'T.T. O.D. 18.140 18.200 1/.830 17.832 Finland— Marks to £1 N.Z T.T. O.D. ' 184.85 185.25 ' 179.05 •179.15 France— Francs to £1 ' N.Z. ... ... T.T. O.D. ‘ 142.99 144.54.'. 140549 140,51 Germany— Eeichsmarks tc £1 N.Z. ... , T.T. O.D ! ' ' — j ■ ’ 9.277 . "9.279 Greece—' Drachmae to £1 N.Z. ... T.T. O.D. -'V, 429,10 429.54 Holland— Florins to £1 N.Z T.T. O.D. 7.160 7.200 7.010 7.012 ItalyDire to £1 N.Z T.T. O.D. - 70.984 71.009 JavaFlorins to £1 N.Z T.T. O.D. 7.154 7.174 6.984 6.985 Norway— Kroner to £1 N.Z. ... ... T.T. O.D. 16.072 16.132 15.782 15.785 Noumea— Francs to £1 N.Z T.T. O.D. 145.49 146.99 138.74 138.78 I’apeete— Franca to £1 N.Z. ... ... T.T. O.D. 144.89 146.39 138.89 138.93 Sweden — Kroner to £1 N.Z T.t. O.D. 15.753 15.813 15.458 ' 15.461 Switzerland— Francs to £1 N.Z. ... ... T.T. O.D. 16.808 16.908 16.538 • 16.541 Hongkong— N.Z. pence to 1 dollar ... T.T. O.D. 18 25-64 18 21-64. ; 18 47-64 18 47-64 India and Ceylon N.Z. pence to 1 rupee ... _ T.T. O.D. 22 3-16 22 5-32 22 15-52 22 15-32 J apan— N.Z pence to I yen T.T. O.D. — ; 17 37-64 17.37-64 Manilar-. N.Z. pence to 1 peso ... T.T. O.D. 31 33-64 3127-64 32 7-32 32 7-32 Shanghai— N.Z. pence to 1 dollar ... T.T. O.D 8 55-64 8 55-64 Singapore— N.Z. pence to 1 dollar ... T.T O.D. 34 17-64 34 7-16. . 35 14 35 14 South Africa— £N.Z. to £100 S.A T.T. O.D. £123 .4/6 £122 17/ ■ £124.17/ £124-17/