AUSTRALIAN EXCHANGES

New Zealand Herald, Volume LXX, Issue 21505, 31 May 1933, Page 7

AUSTRALIAN EXCHANGES

HEALTHY ATMOSPHERE YESTERDAY'S BUSINESS (Received May 30, 8.5 p.m.) SYDNEY, May 30 The success of the Commonwealth loan and the bright prospects for the conversion operation in London, and also the buoyancy of stock and commodity markets abroad, produced a healthy atmosphere jn the investment markets in Sydney and Melbourno to-day. Price movements were almost generally upward, covering a wide range of securities. Commonwealth bonds were very strong. Leading industrial issues found ready buyers at advanced rates. Pastoral and brewery shares wore in good demand. Eastern tin dredging scrip went to higher levels. This morning's sales included:— Bank of New South Wales (ex dividend), £3O; Associated News, preference, 19s 6d; British Tobacco, 35s 4Jd; Broken Hill Proprietary, 335; BurnsPhilp, 51s 3d; Henry Jones, 40s 6d; Wilcox-Mofflin, 7s. Sales this afternoon included:—Commercial Bank of Sydney, £l6; Commercial Bank of Australia, Now Zealand delivery, 16s; Bank of New South Wales (ex dividend), £3O; National Bank (£lO paid), £l2 13s 6d; BurnsPhilp, 51s 3d; Huddart-Parker, 30s 6d; ditto, New Zealand delivery, 30s 6d; Howard-Smith, 9s 2d; Associated News, Ss sd; ditto, preference, 19s 7-Jd; Australian Gas, A shares, £7 Is. 6d; British Tobacco, 35s 4Jd; Tooth's Brewery, 37s 7jd; Toohey's Brewery, 22s 7Jd; Australian Glass, 50s 6d; Australian Iron and Steel, preference, 14s 4d; Golds-brough-Mort, 25s 3d; ditto, New Zealand delivery, 25s 3d; Dunlop-Perdriau, 18s 9d; ditto, preference, 33s 6d; Wil-cox-Mofflin, 7s; Morris l7s 6d; Henry Jones, 41s; Electrolytic Zinc, 20s 6d; ditto, preference, 34s 3d; Broken Hill Proprietary, 33s 6d; Zinc Corporation, 30s- 104 d. Commonwealth 4 per cent bonds: 1938, £lO4 7s Gel; 1941, £lO3 ss; 1944, £103; 1947, £lO3 2s 8d; 1950, £104; 1955, £lO4 17s 6d; 1957, £lO3 17s 6d; 1959, £lO3 15s; 1961, £lO4 ss. Melbourne sales included:—Commercial Bank of Australia, 16s; Golds-brough-Mort, 255; Metropolitan Gas, £l3 3s; Mount Lyell, 22s 9d; North Broken Hill, 80s; herald and Weekly Times, 57s 6d; Commercial Bank, preference, £9 4s.

INVESTMENT MARKET ACTIVITY IN AUSTRALIA AUCKLAND BROKERS' VIEW The more active tone of the Australian stock exchanges, which has been reflected in the New Zealand investment market by diversion of business to the Dominion, is due partlv to the remarkable success of the Commonwealth loan of £5,000,000, according to Auckland brokers' views. The readiness with which the loan was subscribed has had a stimulating effect 011 the Australian investment market, while the rate, 3$ per cent, has established a lower return for giltedge security. This has resulted in further attention being paid to sound stock, on which a fair return is assured. For some time past the leading industrial issues have been strongly supported in Australia and prices have been forced up, with a consequent lowering in the return. On the other hand banks have been quiet as it was felt that their trading operations were restricted. World movements in recent days indicated that the position of the banks should improve quickly, thus bank issues on the exchanges were now receiving greater attention. This was reflected in the quick upward movement of Commercial. English, Scottish and Australian and Union shares. FOREIGN EXCHANGES STERLING AND THE DOLLAR (Received May 30, 6.5 p.m.) British Wireless RUGBY, May 29 The following rates on foreign ex-, changes are current, compared with the cabled quotations on May 27 and par:

NEW ZEALAND MONEY ABROAD Current dollar exchanges, as quoted by the New Zealand banks, are as under: — „ Buying Soiling United States . . . . 4.00 3.3fi Canada 4.61 4.41 Tho cost in New Zealand currency of tho pound sterling dtl of the principal foreign units, on the latest quotations, is as follows: —

These valuations represent the current rates at which banks sell drafts payable on demand. CUSTOMS EXCHANGE RATES Rates of exchange ruling at the announced dates of departure of the vessels named are shown in the following table. They are subject to confirmation by the Customs Department when the exact time of departure is learned on arrival of the vessels in New Zealand, finally declared rates being marked*:— Canadian Cruiser. Canada, dollars . . 4.14 City of Tokio, America, dollars . . 3.87 Citv of Tokio. Canada, dollars . . 4.12 Canadian Challenger, Canada, dollars 441 Melbourne Maru, Japan, yen . . .. 14id Niagara, Canada, dollars . ■ •• 4.45 4 BRITISH WAR LOAN (Received May 30, 6.5 p.m.) RUGBY, May 29 War loan, 3* per .cent;, is quoted to-day at £9S 10s, compared with £9B 5s on Hay 26. LONDON BUTTER MARKET Tosenh Nathan and Company, Limited has received the following cablegram from Trengrouse and ISathan, Limited:—Butter, 795. Cheese: White, 475; coloured, 535. There is a better feeling in both market*.

May 29 May 27 Par Montreal, dol. .. 4.505 4.51 4.866 New York, dol. . 3.985 3.96 4.866 Paris, fr. 84 15-16 85 11-16 124.21 Brussels, belga . 24.005 21.225 35.00 Geneva, fr. . .. 17.305 17.45 25.22 Amsterdam, fl. . 8.30 8.37 12.10 Milan, lire 643 65 92.46 Berlin, r.m. 14.335 34 13-32 20.43 StocRholm, kr. .. 19 7-32 19.50 18.159 Copenhagen, kr. . 22 7-16 22.45 18.159 Oslo, kr. 19 23-32 19.75 18.159 Vienna, sch. 31 + 31+ 34.585 Prague, kr. 113} 113.25 164.25 Helsinijfors, mark 22G.50 227 129.23 Madrid, pea. 391 39 15-32 25.221 Lisbon, escu. 110 110 110 Athens, dr. 590 590 375.00 Bucharest, lei, ._. 5G5 570 813.6 Rio de Janeiro, mil. 4.75d+ 4.75d+ 5.899d Buenos Aires, dol. 42d 41,75d 47.619a Montevideo, dol. 34 dt 34 d + 51 d Bombay, rupee* . 17 5-64d 18 5-64d 13d 'Shanghai, tael . — 14 15-16d — Hongkong, dol. . lGgd 16 9-lGd — Yokohama, yen . 14.75d 14.75d 24.58d Batavia, fl. 8.37 — 12.10 Belgrade, din. .. 250 — 276.31 •(■Nominal. *Pence to American dollar.

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