COMMERCIAL

Grey River Argus, 13 December 1938, Page 8

COMMERCIAL

[Per Press Association.] AUCKLAND, December 12. Sales: 10 o’clock call: National Bank 48s 6d; Devonport Steam 20s 9d; Australian Glass £5 ss; Broken Hill Prop. 57s 6d; Dunlop 20s lOd; Donaghy’s Rope 425; Wilson’s Cement 15s 9d. Sales, 12.15 call: Broken Hill Pty., 57s 6d; New Zealand Newspapers, 30s; Wilson’s Cement 15s 9d; Martha 10s 8d; Waihi Invest Bs. WELLINGTON, December 12. Sales, morning call: Commercial Bank ordinary 16s 6d. Sales reported: Goldsbrough Mort £1 9s 6d, New Zealand Refrigerating (10s) 8s; Broken Hill £2 17s 6d; Anthony Hordern 15s lOd; G. J. Coles £4 0s 6d, £4 2s; Woolworth’s Limited, ordinary, £1 Is 10d (3), £1 Is lid. Overseas listings: Woolworth’s Holdings (S. Africa) 15s 6d. Unofficial list: Woolworth’s Properties Limited £1 6s 6d. Sales, noon call: New Zealand Insurance 51s; Woolworth’s Ltd., ord., 21s lOd (2), 21s 9d (4); Electrolytic Zinc ord. 46s 6d; Coles 82s 3d, 81s 6d, Australian Paper Manufactures Pref. 275; McDuff’s, ord. 3s. CHRISTCHURCH, December 12. Sales: Government 4 per cent, stock 1946 £9B 10s (2), Commercial Bank of Australia 16s 7d, B.H.P. 57s 6d. Reported: Goldsbrough 29s 6d, Coles 82s. LONDON, December 10. Gold is quoted at £7 8s lid a fine ounce.

Silver is quoted at 20d an ounce spot and 19 7-16 forward. With the concurrence of the Import Duties Advisory Committee, associations affiliated to the British Iron and Steel Federation have decided to reduce steel prices, which have been stabilised throughout the year. The reduction, which covers a wide range of products, is not uniform. Ihe average decline appears to be around 8 per cent. The new price level becomes effective on January 1, and will be maintained until June 13. An immediate increase of orders is expected because business has been held up recently in expectation of a price decision and stocks are low. BUCHAREST, December 11.

The volume of German-Roumanian trade has increased to £15,000,000. As a result of the far reaching barter agreement, operative for a year, it is estimated that Germany will supply half of Roumania’s imports, mostly manufactures and machinery, taking one third of her exports, including a quarter of the oil, and large quantities of grain. The value of the mark has increased from 38 or less to 40J. RUGBY, December 10. In commenting on the new Export Guarantees Bill, which it regards as further evidence of the'British. Government’s determination to help the export trades to maintain and extend their activity, “The Times” remarks that recent speeches by Ministers showed that they realised the difficulties created for British industries by the methods of competition introduced by the totalitarian States, and were anxious to co-operate in devising means for overcoming them.

“The expansion under the new bill of the amount of credit which may be guaranteed by the Board of Trade is a definite step, in the spirit of those speeches, to put Britain in a better competitive position,” it states. “It is also a recognition of the success of a method which, in the few years it has been in- operation, has facilitated trade by guarantees of total value of more than £180,000,000, without costing the taxpayer a penny piece.” In stressing the responsibility of industry to carry through' whatever measures of reorganisation may be necessary to defend overseas markets, “The Times” says: “New conditions demand new machinery, which can only be provided by co-operation and organisation.”