COMMERCIAL

Greymouth Evening Star, 23 June 1937, Page 8

COMMERCIAL

LONDON STOCK MARKETS. [BY CABLE —PRESS ASSN. —COPYRIGHT.] (Recd. June 23, 10 a.m.) LONDON, June 22. Hopes of. improvement in the stock markets were dispelled, with a further outbreak of selling. Gold shares received practically no support., and are at lower levels. The French crisis, the Spanish situation, and the postponement of Baron von Neurath s visit caused buyers to hold off other markets, rubbers alone remaining steady. The “Financial Times’ emphasises that the iron and steel industry is likely to enjoy stable conditions on the substantial activity for several years. RAND SLUMP.

(Received June 23, 1 p.m.) CAPE TOWN, June 22

The Rand marltet experienced the most hectic day for years. Nobody seemed to know the reason for selling, as the shares piled on the falling market. London buying, at the close of the session, alone steadied values. SYDNEY SHEEP SALES SYDNEY, June 22. At the stud sheep sales to-day, Corriedales of quality sold well, three rams from Macfarlane’s station, Werriwa, fetching 330, 340, and 350 guineas. Japanese buyers were conspicuous. The best price for merinos was 750 guineas for a Haddon Rigg special ram. Yesterday’s sales, chiefly of merino stud rams, totalled 420 sheep, aggregating £19,113. The average price was £45/9/-. Mr. Donald Grant, a New Zealander, to-day bought a stud merino ram for 30 guineas. GOLD AND EXCHANGE LONDON, June 22. Gold 140/4, dollar 494 9-16, franc 110 7-8. LONDON G.C. LOAN

LONDON, June 22

The London County Council is issuing, shortly, £10,600.000 in three and a-haif per cent, stock, at £ll/10/-, redeemable in 1952-/62.

STOCKS AND SHARES. - AUCKLAND, June 23. Sales: Bank of New Zealand 43/10; Aust. Glass (cum div.) 92/6; Broken Hill (Pty.) 78/-; Woolworths (New Zealand) £7/19/6; Big River 1/61. Unlisted: Farmers’ Freezing 22/6. Sales, noon call: Commercial Bank 18/4; Kaiapoi Pref, odd lot 17/-; New Zealand Breweries, rights 22/-, 22/1B; 'Electro Zinc 53/-; Mt. Lyell 41/-; Gillespies Beach 1/5. CHRISTCHURCH, June 23.

Sales: Four per cent, inscr. 1943-46 £lO4, Comm. Bank of Aust. 18/3 (2), Comm. Bank of Aust, (pref.) £9/1/(2), Kaiapoi (17/- pd.) 13/6 (3), N.Z. Breweries (rights) 22/3, 22/- (3), Anthony Hordern 18/9, Dunlop. Rubber 22/4, Electro. Zinc (pref.) 54/9, G. J. Coles £5/3/-, £5/3/3 (2), Morts Dock 14/3, Mount Lyell 40/9 (3). Reported: Union Bank of Aust. £lO/17/6 (2), Radio (1936) Limited 22/5, Mount Lyell 40/11 (late sale yesterday). Unlisted: McKenzie’s Department Stores 79/6. Reported: Grey River (5/- pd.) 5/-. DUNEDIN, June 23. Sales: New Zealand Drug £3/14/3, New Zealand Breweries (Rights) £1 2/6 (2), Broken Hill South £2/7/3. North Broken Hill £3/11/3. f G. J. COLES WELLINGTON, June 22. G. J. Coles announce a half-yearly dividend at the rate of 8 per cent, on cumulative preference shares, payable on July 15.