YESTERDAY'S SALES.

New Zealand Herald, Volume LXVIII, Issue 20779, 23 January 1931, Page 7

YESTERDAY'S SALES.

BUSINESS ON EXCHANGES. RETURN ON INVESTMENTS. following is a list of yesterday's transactions on New Zealand Stock Exchanges. In the second column is given the return, based on the last, dividend, from investment at the quoted price. In the case of Government, and other redeemable securities the return includes redemption. The first column gives the figures at which the sales were made :

AUCKLAND EXCHANGE. Return on V Sale Price. Investment. i' s d X b >1 Bonds, mi, . . 00 10 0 5 15 5 Auck. liar. Bel.. '4l, 0 102 0 U ."> 14 8 Auck. City, 1910. 51 . 5)0 0 0 5 15 1 Bunk of N.'A. . . . -J 8 ti 516 - .Ditto 2 8 3 5 18 10 Union Bank (lute sale Wed.) . . . . 8 2 tl ('« 3 1 Electro. Zinc (prcf.i 016 G 12 2 5 CHRISTCHURCH EXCHANGE. Govt. Bonds, 1933, 51 90 10 0 5 15 5 Com. Bank A us. .. 0 117 811 5 Ditto (31 0 118 8 10 5 Goldsbrougii-Mort . . 0 lti 10 N.Z. Breweries (2) . 1 12 3 715 0 Ditto J 12 5 7 11 7 British Tobacco .. 18 7 (i 19 11 Ditto !'2j . , ..1 8 5 7 0 0 The following sales also took place:—New Zealand Breweries, 32s 4d: Mahakipawa, Bd. 'lnterim dividend passed. WELLINGTON EXCHANGE. The Stock Exchange waa closed for the Anniversary Day holiday. DUNEDIN EXCHANGE. Xo sales. MONEY ORDER EXCHANGE. DOMINION TO BRITAIN. FURTHER INCREASE MADE. An increuso of 3d in the pound in the rates of exchange on money orders, postal notes and savings bank transfers from New Zealand (o Great Britain and foreign countries was announced yesterday. The new money order rate of Is 3d in tho pound is the highest ever recorded. The rate has been increasing gradually since March, 1930, when it was 3d in the pound. Tho new schedule came into operation yesterday. Under it tho restriction which places £IOO as the maximum amount which any person can forward weekly by money order to Great Britain, Ireland, Canada and foreign countries remains unaltered

The rate for savings bank transfers is the same as that for money orders. The maximum amount of transfer, £2OO for each depositor, has not Lecn altered. The charges for New Zealand postal notes, which arc negotiable only in New Zealand, have hot been changed, but the new rates of commission on British postal orders, which can be cashed overseas, arc as follows, the rates charged previously being given in parentheses:—2s, 2d (Id), 2s 6d, 2d (Id), 3s, 3d (2d), ss, <ld (3d), 10s, 8d (6d), 15s, lid (9d), £l, Is 3d (Is).

EXCHANGE ON DIVIDENDS. AUSTRALIAN COMPANIES. MOVE FOR DOMINION EXEMPTION At the instigation of the Auckland Exchange, the Stock Exchange Association of New Zealand is moving to have cheques for dividends in Australian companies paid to shareholders in New Zealand made exempt from exchange. The association is approaching the associated banks on the question. A few companies operating in Australia, such as the Union Bank, the Bank of Australasia, the Bank of New South Wales, and Dclgetys, have New Zealand registers, and pay dividends on tho New Zealand parity. Dividends front shares in companies such as Australian Glass, British Tobacco and Huddart-Parker are all subject to the exchange, however. At the moment very little business is being transacted by Auckland brokers between New Zealand and Australia. The high exchange rates and determination of the banks to keep money in Australia makes cross-Tasman share transactions very difficult.

RATES ON AUSTRALIA. LATEST EISE NOT GENERAL. Exchange transactions between New Zealand and Australia were being dealt with by the Bank of New Zealand yesterday at the rates ruling prior to the last increase announced by tho Bunk of New South Wales. As yet the associated banks have not announced their intention of following the Bank of New South Wales and charging on a. higher schedule. COMMERCIAL BANK DIVIDEND. NOT SUBJECT TO EXCHANGE. The question whether they would be compelled to pay the ruling rate of exchange on their dividend cheques due early next month has been causing considerable concern to Auckland shareholders in the Commercial Bank of Australia. Inquiries fit the Auckland olhce. of the bank yesterday elicited the information that, as far as'that office knew, dividend warrants would be cashed in New Zealand in the usual way on their face value, free of exchange.

WORLD WHEAT POSITION. CONFERENCE SUGGESTED. (Received January 'J'- 1 , p.rn.) CAJ/.AKY. Jan. -1. The summoning ot an international wheat conference I>y Canada at the earliest possible date was requested l»v the delegates to the annual coinentioii of the I nurd Fai 11 i»*r>> or Albert a. They siig jested that the conference should represent all the wheal exporting count ties and i hat its aim should ho to stabilise wheat productton and the export price in Older to enable the growers to meet the cost ol prod net ion ami obtain a reasonable profit. The delegates decided to ask Ihe (.ana dian Government tu take over the 1930 wheat crop and pay the producers in wheat cert ilicates to be redeemable in wheat and receivable in payment of taxes. CI lEESE FOR EXPORT. ONLY FULL CHKAM CI!GEL>. A resolution urging the Minister of Agriculture to take immediate action to prohibit the export ol anv but ' fullcteam " cheese and to establish an equitable system, based fin the casein anil fat content. for payment for milk supplied to cheese factories, was adopted at a meeting of the Auckland central branch ol the New Zealand I'Yiesian Association held at llobsoii Farm. Wharepapa, on Wednesday.' The meeting expressed the opinion that until an equitable system of payment was established no solution of the interior cheese problem could be obtained.