STOCK EXCHANGES

New Zealand Herald, Volume LXX, Issue 21457, 3 April 1933, Page 5

STOCK EXCHANGES

SATURDAY'S SALES RETURN ON INVESTMENTS Following is a list of Saturday's transactions ou New Zealand Stock Exchanges. In the second column is given the return, based on the last annual dividend, from investment at the quoted price. In calculating the return on shares in companies which pay tlioir dividends outside Now Zealand the exchange rates have not been taken into consideration. AUCKLAND EXCHANGE ■ Return on Sale Price Investment £sd £ s d Com. Bupk Aus. .. 014 0 311 5 Bank of N.Z. .. 2" 4 6 "Waihi ' . . ..120 '.) 110 WELLINGTON EXCHANGE Well. Invest,. Trust, .0 4 0 t The following sale also took place:—Blackwater, 22s fid. CHRISTCHURCH EXCHANGE Bank of N.Z. ..246 South British . . 3 3 9 4 3 8 NTZ. Breweries ..175 * 1).1.C. (10a paid) 0 10 0 The following sales also took place:— Bonds, 1937, 54. February-March, assented, £99 7s 6d; King Solomon, 2s; Nokomai, 5a 7d, DUNEDIN EXCHANGE .Ivaitangata Coal . . 1 0 0 710 0 'lnterim dividend reduced, tlnterim dividend deferred. BANK OF ENGLAND FIDUCIARY ISSUE REDUCED • . 1 BACK TO FORMER LIMIT LONDON, March 31 The Bank of England's fiduciary issue has reverted to the normal amount £275,000,000. The news of the reduction is generally welcomed in the City though in' ; some quarters it is interpreted as part of a policy of deflation. The best informed financial writers, however, point out . that it does not mean deflation. The Daily Telegraph says the volume of' credit is so ample that the effect of the return to the statutory limit of £260,000,000 will bo negligible, if any. To all intents and purposes, says the paper, it is little more than a formal discontinuance of an emergency arrangement that is required no longer. The maximum limit of the Bank of England's fiduciary issue was increased on August 1, 1931, from £260,000,000 to £275,000,000. Permission to maintain the increase has been granted by the Treasury periodically since that date. The object of the increase when it was authorised originally was to enable the bank to ship more gold abroad without restricting the supply of currexicy for domestic purposes. DOLLAR EXCHANGE DOMINION RATES' REVISED Current dollar exchanges as quoted' by the New Zealand banks are as under, compared with previous quotations: —■ U.S. Dollar to £1 Mar. 13 Mar. 1G Mar. 20 Mar. 27 Apl. 3 Buying . * 3.51 3.5(5 3.53 3.51 Selling . * 3.31 3.3G 3.33 3.31 Canadian Dollars to £\ Buying . 4.27 4.23 4.10 4.22 4.22 Selling . 4.07 4.03 3.99 4.02 4.02 •Quotations suspended. FOREIGN EXCHANGES STERLING EASIER AGAIN British Wireless RUGBY, March 31 The following rates on foreign exchanges. are current, compared with the cabled quotations on March 30 and par:— Mar, 31 Mar. 30 Par Montreal, dol. .. 4,12 4.125 *4.866 New York, dol. . 3.41 i 3.43 v 4.861> Paris, fr. .. 87 1-32 87 5-16 124.21 Brussels, belga . 24.50 24.595 35.00 Geneva, fr. .. 17.715 17.795 25.22 Amsterdam, fl. .. 8.48 8.51 , 12.10 Milan, lire .. 66.75 66 13-16 92.46 Berlin, r.m. .. 14.355 14.385 20.43 Stockholm, kr. .. 18.90 18.90 18.159 Copenhagen, kr. . 22 7-16 22 7-16 18.159 Oslo. kr. 10.50 ,19.50 18.159 Vienna, sell. .. 31.501 J3lt 34.685 Prague, Icr. .. 115 115.50 164.25 Helsingfors, mark 226.50 220.50 129.23 Madrid, pea. .. 40 15-32 40 9-16 25.221 Lisbon, escu. ..110 110 110 Athens, dr. .. 602.50 602.50 375.00 Bucharest, lei. .. 677.50 575 813.6 RiodeJaneiro.mil. 53+ 53 + 5.899 d Buenos Aires, dol. 41 41 47.619 d Montevideo, dol. 83+ 33+ 51 d Bombay, rupee . 18 l-16d 18 l-10d 18d Shanghai, tnel 20,50 d 20 9-lGd Hongkong, dol. . 15Jd -16 d Yokohama, yen . 15 1-lGd 15d 84.58 d Batavia, 11. .. -f 8.52 12.10 Belgrade, din. .. 25rt 276.31 Warsaw, zlotya . iNominal. The selling rate for telegraphic transfers; London on Capetown, is £99 17s fid for £IOO sterling, and the buying rate £IOO 17s fid, same as yesterday. CUSTOMS EXCHANGE RATES Rates of exchange ruling at the announced date of departure of the vessels named are shown in the following tabio. They are subject to con. iirmation. by the Customs Department when the exact time of departure is learned on arrival of the vqssels in New Zealand, finally declared rates being marked*: —• Cily of Cambridge, America, dollars *3.45 City of Cambridge. Canada, dollars . *4.11 Canadian Leader, Canada, dollars . . 4.11 Sydney Main, Japan, yen . . . . 1-I.nOd Golden Coast, America, dollars . . *3.45 (i:) Hen C'oaet, Canada, dollars .. *4.10 Waihe|)io, America, dollars .. .. *3.45 Waiheino, Canada, dollars .. .. *4.13. Wirral. America, "dollars . . . 3.444 NEW ZEALAND MONEY ABROAD The cost in Now Zealand currency of the pound sterling and of the principal foreign units, on the latest quotations, is as follows: — " present Price Par »d s d London, pound . . ~24 11.58 20 0.00 Australia, pound . , . 20 0.00 20 0.00 New York, dollar . , 7 6.55 4 1.31 Montreal, dollar . ~ . 6 2.54 4 1.31 Paris, franc ~ ~ 0 3.44 0 1.98 Berlin, mark . . . . 1 8.88 0 11.?± Copenhagen, krone . . 1 1.36 1 1.22 Yokohama, yen . . . . 1 6.81 2 0.58 These, valuations represent the current rates at which banks sell drafts payable on demand. DUNEDIN EGG PRICES [BY TEIiEGEAi'H —OWN CORRESPONDENT] DUNEDIN, Saturday Prices for eggs coming to Dunedin stores have again advanced and to-day eggs were selling freely in the markets at Is 6d a dozen. 'WHEAT IN AMERICA (Received April 2, 5.5 p.m.) CHICAGO, April 1 Wheat.—May, 54 i cents a bushel; July, 54 7-8 cents; September, 55 5-8 cents. The New York quotation for cash is 64 7-8 cents.