FINANCE

Hawke's Bay Tribune, Volume XXII, Issue 175, 9 July 1932, Page 9

FINANCE

GOVERNMENT SECURITIES. London, July 7. Quotations of Government stocks on the London Stock Exchange compare with those of last week as follow: — VartaPrice tion.

•Decrease. COMMERCIAL HANK OF AUSTRALIA, LTD. RECOMMENDATION OF DIVIDEND Wellington, July 8. The general manager advises that at the general meeting of shareholders on August 11 next, tho directors wiM recommend the payment of a dividend for six months at the rate of 4 per cent, per annum on preference shares and at the rate of 5 per cent, per annum for 12 months on ordinary shares. The transfer books close on July 27. The following cable was received today by tho Stock Exchange Association.—“ Subject to audit, the directors recommend a dividend of six per cent, per annum for six months ended June 30, payable on August 11.—Trustees, Executors and Agency, Ltd., Mel-’ bourne.” EXCHANGE BUSINESS. BANKS’ RATE UNALTERED. Christchurch, July 8. Although the banks have not altered the exchange rate since the abolition of the exchange credits pool, outside agencies in Christchurch have been transmitting money to London during the past few days in sums of from £lOOO to £5OOO at rates varying between 13 and 14 per cent. The rate charged by the Associated Banks is still 10 per cent. The fact that these sums are being transmitted at a greater discount than that charged by the banks suggests that the banks do not want the business. It is stated that part of the outside business is speculative, representing an attempt in some cases to repatriate money to Australia, and in others merely to take advantage of the high exchange of Australia on London, tho ultimate destination of the credit being Australia.

Console, 2J p.c 70 10 0 3 10 0 Fund, Loan, 4, 1960-90 ... 106 10 0 115 0 War Loan, 5, 1927-47 101 0 0 15 0* Convere Loan, 34 p.c. ... 98 0 0 4 5 0 Victory Bqnds, 4 p.c. ... 105 7 6 17 6 C’wealth, 5, 1945-75 100 10 0 6 5 0 C’wealth, 6, 1931-41 101 10 0 1 0 0 Victoria, 3, 1929-49 73 12 6 8 12 6 Victoria, 3J, 1929-49 78 10 0 13 0 0 Victoria, 54, 1930-40 99 2 6 3 10 0 Victoria, 5, 1932-42 97 10 0 2 5 0 Victoria, 43, 1940-60 95 15 0 2 5 0 N.S.W., 4, 1933 96 0 0 2 6* N.S.W., 3, 1935 89 15 0 3 7 6 N.S.W., 3J, 1930-50 76 10 0 8 0 0 N.S.W., 53, 1922-32 99 10 0 5 0 N.S.W., 64, 1930-40 99 15 0 1 0 0N.S.W., 6, 1930-40 99 0 0 2 10 0 Q’land, 5, 1940-60 98 0 0 8 15 0 Q’land, 58. 1930-40 73 10 0 8 0 0 Q’land, 53, 1930-40 99 10 0 1 0 0 N.Z., 4J, 1948-53 100 17 6 10 7 6 N.Z.. 31. 1940 92 5 0 11 15 0 N.Z., 3, 1945 80 15 0 8 7 6 N.Z., 6, 1936-51 104 10 0 1 15 0 S. Aust.. 3J, 1930 89 0 0 8 0 0 8. Aust., 3, 1916 or after 60 10 0 4 15 0 S. Aust., 6}, 1930-40 99 0 0 1 10 0* Tasm., 3£, 1920-40 89 7 6 9 5 0 Tasm., 3, 1920-40 83 10 0 8 10 0 Tasm., 6*. 1930-40 98 0 0 2 10 0* W. Aust., 34, 1920-35 92 10 0 3 15 0 W. Aust., 3, 1915-35 91 15 0 8 2 6 W. Aust., 6, 1930-40 100 0 0 3 0 0