STOCK EXCHANGES

New Zealand Herald, Volume LXIX, Issue 21277, 2 September 1932, Page 7

STOCK EXCHANGES

YESTERDAY'S SALES 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 annual dividend, from investment at tbo quoted price. In the caso of Government and other redeemable securities no return is given, in view of tlie new method of quotation, but the months in which interest is due are shown. In calculating the return on shares in companies which pay their dividends outside New Zealand exchange rates, being liable to fluctuation, have not been taken into consideration. The first column gives the figures at which the sales were made:— AUCKLAND EXCHANGE

EXCHANGE POSITION EASIER OPINION IN AUSTRALIA The feeling in financial circles is that there is no probability of exchange rates on London being increased. On the contrary, it is felt that if any change is made in the official rates in the near future it will bo downward, stated the Melbourne Argus recently. Some traders are expecting a fall when the wool export season begins, and are shaping their business accordingly. Normally about that time of the year lower rates would be expected to prevail, but the general economic situation has introduced many complications, particularly the claims of primary producers. The Commonwealth Bank, which now controls the exchange rates, has several times expressed its determination not to bo influenced in its consideration of the position by any sectional interests. In these circumstances it is not surprising to learn that an amount of London money has been offered in the outside market at 3s 6d per cent below the fixed selling rate of £25 10s. There is very little business in exchange outside the ordinary banking channels, the control exercised by the Commonwealth Bank since last December having been -most'effective in preventing fluctuations. FOREIGN EXCHANGES STERLING SLIGHTLY EASIER (Received September 1, 6.5 p.m.) British Wireless KUGBY, Aug. 31 The following rates on foreign exchanges are current, compared with the cabled quotations on Aug. 30 and par:—

CUSTOMS EXCHANGE RATES Rates of exchange ruling at the announced date of departure of tho vessels named are shown in the following table. They are subject to confirmation by the Customs Deportment when the exact time of departure is learned on the arrival of the vessels in New Zealand, finally declared rates being marked * : Niagara, Canada, dollars . . . . 3.99 Canadian Cruiser, Canada, dollars . 4.05 Melbourne Maru, Japan, yen . . 18.6-8 d "VVairuna, America, dollars . . . . 3.48 Canadian Challenger, Canada, dollars 4.01 ADAIR BROS., LIMITED DIVIDEND OF 5 PER CENT Tho directors of Adair Brothers, Limited, drapers, mercers and grocers, Gisborne, recommend a dividend of 5 per cent, tax free, for the year ended July 31. In tho previous year tho company paid 6 per cent. The amount available from profits from the past year's trading is £6yi, and to this .is added £B4O brought info the accounts. The directors also propose to utilise £IOOO from the dividend reserve fund, making £2531 available. The year's dividend will absorb £1994, leaving £537 to bo carried forward. The paid capital of tho company, is £39,089 and tho reserve fund, after the present appropriation, will be reduced to £11,0.14, In the 1931 vear tho company made a net profit of £2772. ' P. AND C). DEFERRED STOCK LONDON. Aug. 31 P. and O. deferred stock is quoted at 20s compared with 20s 3d yesterday.

Return on s ilc Price Investment £ H (1 £ s d Bank N.S.W. 2fi 15 0 * » B.ink N.Z 2 7 0 6 0 8 Ditto 2 7 7 G 0 G Auckland Gas (con.) 0 15 Kaiapoi Woollen 0 5 :t N.Z. Breweries 1 7 0 5 18 G Ditto (2) 1 7 I 5 18 1 Bycroft, Limited 1 10 0 G 2 3 Moturoa Oil 0 3 1 Fanners' Fertiliser . . 0 13 10 7 4 7 Mount Lyell (2) 1 1 0 + The following sale also took placo ■ Golden Dawn, fm. WELLINGTON EXCHANGE Stock. 1037, 5J (Feb.-Auk.) 99 5 0 Ditto. 1937, 5J (Sep.March). ex int. . 99 2 r> Ditto 99 0 0 _ Ditto. 1933. 5i (Feb.-Aug.) 9* 0 0 Bank N.Z '2 7 4 G 1 2 Ditto 2 7 0 6 0 8 N.Z. Insurance 2 2 0 ■i 15 3 The following sales also took place ; Blackwater, 13s 3d. 13s 2d; King Solomon, Is 8d; Okarito, Ss 3d. CHRISTCHURCH EXCHANGE Bonds, 1933. oi (Feb.-Aug.* as 5 0 Com. Bank Ana. . . 0 14 3 3 10 2 Ditto (2) . . 0 14 4 3 9 0 E„ S. and A. Bank 4 9 9 * Bank N.S.W. (2) . . 27 5 0 * Bank N.Z 2 7 0 G 0 1 Ditto 2 7 3 6 1 4 Union Bank 7 5 0 2 15 2 National Ins. (2) t . 0 14 0 5 7 2 N.Z. Insurance 2 2 0 4 15 3 Goldsbrough-Mort (7) 1 5 5 1 19 4 Ditto (2) 1 5 6 1 19 3 N.Z. Breweries 1 7 2 5 17 10 Staples Brewers' 1 5 0 * British Tobacco .. 1 10 0 * Wilsons Cement 1 11 G G 7 0 Wivilii Grand June. 0 2 9 12 2 5 Mount Lyell 1 2 0 t Ditto 1 1 G t The following sales also took place — Blackwater. 13s 3d (2) ; Golden Point, 9d; King Solomon, la 9d; Mahakipawa 4d (2). DUNEDIN EXCHANGE Bank N.S.W. 27 5 0 * N.Z. Breweries 1 7 0 5 18 G Colonial Sugar 44 15 0 5 11 9 Kcmpthorne-l'rosser . 2 17 G 5 4 4 The following sales also took place — Mahakipawa, 4d: Gillespie's Beach 2d. 'Interim dividend reduced. -tlnterim dividend pas sed.

Aug. 31 Aug. 30 Par Montreal, dol. .. 3.875 3.89 4.866 New York, dol. . 3.462 3.473 4.866 Paris, fr. 88.50 88 J 12,1.21 Brussels, belga .. 25.025 25.065 35.00 Geneva, fr. 17 .'895 17.945 25.22 Amsterdam, fl. .. 8.03 8.65 12.10 Milan, lire 67.75 67.75 92.46 Berlin, r.m. 14.575 14.50 20.43 Stockholm, kr. .. 18 15-32 19.50 18.159 Copenhagen, kr. . 19.40 19.35 18.159 Oslo, kr, .. 19.35 19 31-32 18.159 Vienna, sen. 29.50t 301 34.585 Prague, kr. 117.25 117.75 164.25 Hclsingfors. mark 232.50 240 139.23 Madrid, pes. 43 1-16 431 25.221 Lisbon, escu. 110 110 110 Athens, dr. 560 560 375.00 Bucharest, lei. .. 587.50 587.50 813.6 Rio de Janeiro, mil. 5 5-32 5 5-32 5.899d Buenos Aires, dol. + t 47.619d Montevideo, dol. 301 30+ 51 d Bombay, rupee . 18 9-61 181 18d Shanghai, tael .. 21 13-16 211 — Hongkong, dol. . in£ 168 — Yokohama, yen . 16 16 1-16 24.5Sd Batavia, fl. _ 8.68 12.10 Belgrade, din 220 220 267.31 1 Nominal.