COMMERCIAL

Greymouth Evening Star, 13 October 1939, Page 12

COMMERCIAL

SYDNEY PRODUCE MARKET [BY GABLE —PRESS ASSN. —COPYRIGHT.] SYDNEY, October 12. On the Sydney produce market, wheat and flour are not quoted. Quotations are: Potatoes, Tasmanian £24. others £lB/10/-; onions, Egyptian brown £23; maize, white 4/6. BRADFORD WOOL PURCHASES LONDON, October 12. The Bradford Wool Control is buying substantial weights of clothing and combing wools, and crossbred tops, at prices adjustable when the new minimum scale is issued. The civilian trade in tops is negligible. Yarns are selling moderately well. RESERVE BANK RETURN. The Reserve Bank’s advances to the State continue to increase. The bank’s latest return, covering the week ended on Monday last, shows that the advances for marketing are greater by £51,233 and those for other purposes by £475,000, a total of £526,233. Sterling exchange at £5,633,160 is £294,457 higher this week, and the proportion of reserve to notes and other demand liabilities stands at 25.847 per cent, against 25.473 per cent, a week ago. There has again been some expansion in the note issue and deposits, both of the State and of the trading banks are higher. Investments are lower by £99,601. AUSTRALIAN SCRIP.

WELLINGTON, October 12. The Stock Exchange Association of New Zealand advises that following Press reports at the end of last week that the Australian Government had introduced regulations to prevent the export of capital from Australia, and make possible the mobilisation of all overseas assets owned by Australians, private advice received by members here to the effect that the export of scrip from Australia had been prohibited caused the association to cable to the Sydney Stock Exchange making closer inquiries. The reply, received to-day, is to the effect that scrip may be sent from Australia to New Zealand provided funds are remitted to Australia to pay, or scrip for an equivalent value is exchanged. Scrip will be retained there only when purchased with funds already in Australia. ; CANADIAN EXCHANGE CONTROL AUCKLAND, October 12. The Reserve Bank of New Zealand has informed the trading banks that trade between Canada and other countries is subject to Canadian exchange control under the War Emergency Regulations governing all exports from and imports into Canada. Dealings in foreign exchange and payments in Canadian dollars involving a transfer of funds to people in other countries are subject to an authority to be obtained from the Foreign Exchange Control Board, of which the Bank of Canada will act as agent. The Canadian Trade Commissioner in Auckland (Mr. W. F. Bull) said today that the aim is to protect the Canadian dollar against heavy transfers or speculation.

BANK DIVIDEND WELLINGTON, October 13. The board of directors of the National Bank of Australasia has decided to pay an interim dividend on both classes of shares, at the rate of six per cent, per annum, for the half-year ended September 30. STOCKS AND SHARES. CHRISTCHURCH, October 13. Sales: South British 44/3, Colonial Sugar £49/15, Taranaki Oil 5/-, Woolworths (Syd.) 23/2, 23/3, 23/4, Mt. Morgan 9/9. Sales reported: Commercial Bank 15/-, Hume Pipe 17/6 (both late yesterday). WELLINGTON, October 13. Sales: Four Per Cent. Stock 1958 £97/10, Dunlop Rubber 19/6, Mount Lyell 32/-. Sales reported: Four Per Cent. .Stock 1949 £9B/5, Bank of New South Wales £2B/10, . Broken Hill 74/6, South British Insurance 44/3. MINING. MOSSY CREEK. The Mossy Creek return is 51oz 7dwt for 9812 yards and 234 hours. ARGO DIVIDEND. A dividend (No. 19) of one penny a share (free of income tax) has been declared on all the shares in the Argo Gold Dredging Company, and will be payable on October 24. dividend represents a distribu- - of £2OOO to the shareholders, and makes a total distribution of £37,200 paid in dividends since operations commenced. The sum of £4OO has been placed to the general reserve fund, which now stands at £4600. CASCADE-WESTPORT COAL. A final dividend of 64 per cent., making 10 per cent, for the year, has been declared by the Cascade-West-port Coal Company, Ltd.