AUSTRALIAN EXCHANGES

New Zealand Herald, Volume LXX, Issue 21561, 4 August 1933, Page 5

AUSTRALIAN EXCHANGES

SYDNEY MARKET ACTIVE GENERAL RISE IN PRICES (Received August 8, 7.55 p.m.) SYDNEY, August 3 Business on the Sydney Stock Exchange to-day was very active. Commonwealth bonds led the way in a general rise in prices. This morning's sales included:—Commonwealth 4 per cent bonds, 1938, £lO2 17s 6d; 1941, £lO3 7s Gd; 1944, £lO4 2s Od; 1047, £lO4 15s; 1950, £lO5 12s 6d; 1953, £lO4 7s 6d; 1955, £lO4 10s; 1957, £lO4 16s 3d; 1961, £lO5 15s. Bank of Australasia, £l2 3s; Bank of New South Wales, £32 7s 6d; Associated News (preference), 19s; Australian Glass, 495; British Tobacco, 355; Burns-Philp, 525; Colonial Sugar, £59 2s 6d; Dunlop-Perdriau, 18s lid; Millaquin Sugar, 28s; Wilcox-Mofflin, 8s 4d; Winchcombe-Carson, 26s 9d.

Sales this afternoon included:—Bank of Australasia, £l2 3s; Commercial

Bank of Sydney, £l7 8s; National Bank (£5 paid), £6 7s; Colonial Sugar, £59 ss; Australian Provincial Assurance, lis 7d; Associated News, 8s 6d; ditto (preference), 19s; Adelaide Steam, 23s 9d; Australian Gas, A shares, £7 6s 6d; British Tobacco, 355; Anthony Hordern, 10s 6d; ditto (preference), 19s 3d; Australian Iron and Steel (preference), 15s 4Jd; Australian Glass, 495; Burns-Philp, 525; Golds-brough-Mort, 26s 6d; Dunlop-Perdriau, 18s 14d; Meggitt's, 20s; Farmers', 13s; i\lorris Hedstrom, 18s lOJd; Millaquin Sugar, 28s; Winchcombe-Carson, 26s 9d; Wilcox-Mofflin, 8s 4d; Wunderlich, 20s 6d; Mount Morgan, .%s; Broken Hill Proprietary, 37s South Broken Hill, 575; Norths, 84s 6d; Zinc Corporation, 335. Commonwealth 4 per cent bonds, 1938, £103; 1941, £lO3 10s; 1944, £lO4 12s 6d; 1947, £105; 1950, £lO5 7s 6d; 1953, £lO4 7s 6d; 1955 and 1957, £lO4 17 s 6dj 1959, £lO5 7s 6d; 1961, £lO5 15s. Melbourne sales included: —Commercial Bank of Australia, 16s 8d; Golds-brough-Mort, 26s 6d; Carlton Brewery, 395; Herald and Weekly Times, 44s 3d; Electrolj'tio Zinc (preference), 32s 6d. GOLD AND SILVER QUOTATIONS IN LONDON (Received August 3, 7.35 p.m.) LONDON, Aug. 2 Fine gold is quoted to-day at £6 4s 3d nil ounce, compared , with £6 4s yesterday. Silver is quoted at 17,Jd an ounce spot and 17|d forward, compared with 17|d and 18d yesterday. The quotation for silver at per fine oz. is 19 l-Bd, compared with 19 5-16 d yesterday.

USEFUL NEW COLOURS PRODUCTION IN BRITAIN (Received August 3, p.m.) British Wireless RUGBY, Aug. 2 Sir Honry Sutcliffe Smith, chairman of the Colour Users' Association, at the annual meeting of that body, said a number of new visual colours made had been produced in British laboratories last year. Several now products of great value to agriculture and to the textile, rubber and varnish industries had been introduced. DEPRECIATED CURRENCY " DOOMED TO FAILURE" The "mad policy" of depreciating currencies artificially by inflation and other means is criticised in the latest circular of Brandeis, Goldschmidt and Company, metal brokers, of London, JSew York and Melbourne. The circular states that attempts in this direction doomed to failure. While Great Britain has been at some pains to prevent sterling from rising unduly jn value, it is stated, the United .States has been a far worse offender in inflating its currency and depreciating the dollar to a point far below that which is necessitated by the force of adversity. The firm adds: —"Evidently none of our statesmen or financial advisers see that this must mean absolute disaster in the end, oven if it creates, for the time being, a fictitious better state of trado. Here, again, wo see that nobody has learned from experience, and tiie present state of Germany, in spite of a temporary fictitious prosperity and greatly reduced unemployment, when the currency went to A billion marks to the pound, clearly shows that these mistakes havo to bo paid for in, the end." FOREIGN EXCHANGES i • N DOLLAR STILL FIRMER (Received August 3. 7.5 p.m.) British Wireless RUGBY, Aug. 2 The following rates on foreign exchanges are current, compared with the cabled quotations on August 1 and par:— Aug. 2 Aug. 1 Par Montreal, dol. .. 4.70 4.825 4.806 New York, dol. . 4.405 4.505 4.660 Paris, fr. .. 84 25-32 85 5-32 124.21 Brussels, belga .. 23.775 23.835 35.00 Geneva, fr. .. 17.15 17.185 25.22 Amsterdam, fl. .. 8.22 8.24 12.10 Milan, lire .. 63% f>3 3 / lfl 92.40 Berlin, r.m. .. 13.925 13.90 20.43 Stockholm, kr. .. 19.375 19.375 18.159 Copenhagen, kr. . 22.40 22.40 18.159 Oslo, kr. .. 19.90 19.90 18.159 Vienna, sch. ... 301 30+ 34.685 Prague, kr. 112 112.25 164.25 Helsingforu, mark 220.50 226.50 129.23 Madrid, pes. .. 39.75 39' 3 / 18 25.221 Lisbon, escu. .. 110 110 110 Athens, dr. 587.50 587.50 375.00 Bucharest, lei. .. 565 565 813.0 Rio de Janeil'o, mil. 4.26 d 4.25 d 5.899 d Buenos Aires, dol. 42d 42d 47.619(3 Montevideo, dol. 34 dt 34dt 51 d Bombay, rupee .. i 8 3-32 dlB 3-32 d 18d Shanghai, dol. .. 15V!*d 14 15 /i 8 d Hongkong, dol. . 10 29-32 d 16% d Yokohama, yen . 14% d 14% d 24.58 d Belgrade, din. .. 245 245 276.31 ♦ Nominal. NEW ZEALAND MQNEY ABROAD Current dollar exchanges, as quoted by the New Zealand banks, are as under:— • Buying Selling United States , . .. 4.57 4.37 Canada . .. . . 4.61 4.71 The cost in New Zealand currency of the pound sterling and of the principal foreign units, on the latest quotations, is as follows: — Present Price Par sd b d London, pound . .. 24 11.59 20 0.00 Australia, pound . . 20 0.00 20 0.00 Ne\v York, dollar .. 5 8.58 4 1.31 Montreal, dollar . . . 5 3.62 4 1.31 Paris, franc . . .. 0 3.54 . 0 1.93 Berlin, mark . .. 1 9.51 0 11.74 Copenhagen, krone .. 1 ! I 1.22 Yokohama, yen . . .. 1 2 0.58 These valuations represent the current rates at which banks soil drafts payable on demand. CUSTOMS EXCHANGE RATES Rates of exchange ruling at the announced dates df departure of the vessels named are shown in the following table. They are subject to confirmation by"the Customs Department when the o,\act time of departure is learned on arrival of the vessels in New Zealand, finally declared rates being marked*: — Brisbane Mum, Japan, yen .. .. 15 l-32d WtiikaWil, America, dollars . . . . 4.791 Piako, America, dollars ~ .. 4.26 Canadian Highlander. Canada, dol. 4.60 Port Fiemaiitle, America, dollars . . 4.535 Melbourne Maru, Japan, yen . 14 13-lGd