AUSTRALIAN EXCHANGES

New Zealand Herald, Volume LXXII, Issue 22084, 13 April 1935, Page 9

AUSTRALIAN EXCHANGES

HEAVY SYDNEY TURNOVER ACTIVITY IN BANKS (Received April 12, 7.45 p.m.) SYDNEY, April 12 On the Sydney Stork Exchange today there was a. heavier turnover and greater activity in banks. Prices generally were steady. This morning's sales included: Commonwealth bonds, 3 per cent, 1948, £108; 3i per cent, 19-18. £lOl 10s; 3f per cent, 1942, £lO3 12s 6d; 4 per cent, 1938, £lO4 ss; 1941, £lO5 17s 6d; 1947, £lO6 ss; 1950, £107; 1953, £lO7 ss. Bank of Australasia, £ll 4s; Toohey's Brewery, 29s 3d; Anthony Hordern, ' 17s 9d; ' Associated' News, 235; Broken Hill Proprietary, 53s 9d; Burns-Philp, 58s; Colonial Sugar, £42 12s 6d; Dunlop-Perdriau, 17s "lOid; Goldsbrough Mort, 295; Wilcox Mofflin, 9s. 3d. _ Later sales included: Bank of New South Wales, £3l; Commercial Bank of Sydney, £l6 12s; Union Bank, £8 12s 6(1; Bank of Australasia, £ll 4s; United Insurance, £11; Colonial Sugar, £42 15s; Associated News, 235; Australian Gas, A shares, £8 Is; 'looth's i Brewery, 50s 3d; Toohey's Brewery, j 29s 4£d; Automatic Totalisator, 20s; I Australian Glass, 58s 6d; l)unlop-Per-i driau, 17s 6d; Wilcox Mofflin, 9s 6d; i .Morris Hedstrom, 18s 9d; Anthony : Hordern, 17s 9d; Greater J. IX Williams, 5s 6d; General Industries, 14s 7d; Mount Morgan, 35s 3d; Broken Hill Proprietary, 53s 9d; South Broken Hill, 79s 6d; Placer Development, £27 4s; Euratha Gold, 3s 7sd. Commonwealth, 4 per cent bonds, 1941, £lO5 17s 6d; 1947, £lO6 ss; 1950, £107; 1953, £lO7 2s 6d; 1955, £lO7 lis 3d; 1957, £lO7 12s 6d; 1961, £lO7 10s. Melbourne sales included: Commercial Bank of Australia, 15s 9d; National ; Bank, (£lO paid) £l2 14s; ditto (£5 i paid), £G 4s; Gordon and Gotch, 44s 6d; Herald and Weekly Times, 56s 9d. "

ALOHA GOLD SHARES BUYERS OFFERING £6OO MELBOURNE, April 12 On the Melbourne Stock Exchange to-day buyers of £lO shares in tiie Alalia Gold Syndicate offered £6OO, as rise of £IOO on yesterday's offers. : Sellers held out for £IOOO. i The recent history of the Tavua gold- ; field in the island of Viti Levu, dates 1 back to the beginning of the year. At ! that time one mine, the Emperor, was i already well-established, and work had | been commenced. This was followed by ! the development of two adjacent claims. ; the Laloma and the Koroere, companies ! being formed in fcach case with a capiI tal of £150,000, both developed by Aus- ! tralian Gold Development, N.L. | The confidence of investors in these ! two new claims caused the shares of the prospecting company to rise in a short time from £24 at the beginning of the year to £6O. Since then a number of other companies have come into existence, among them the Aloha Syndicate, N.L., which began to prospect early in Februarv, the company having a capital of £f)000 in £lO shares, 120 of which were issued, and a fujther 100 shares of £5 each. The £lO shares came on the market at £2O and rose slowly to £45 by the end of March, after which a rapid rise took place, buyers offering £SO, £IOO and £l7O on three successive days. The shares of several companies operating on neighbouring claims have also appreciated, but to a much lesser 1 extent than those of Aloha. GOLD AND SILVER QUOTATIONS IN LONDON (Received April 12," 7.35 p.m.) LONDON, April 11 i Fine gold is quoted to-day at £7 3s Hid an ounce, compared with £7 3s Gd yesterday. The "quotation for silver at per fine oz. is 32 l-16d, compared with 31} d yesterday. The following is a summary of the fluctation in the price per ounce of the gold in 1935: — •£ s d Highest price, March 6 ~794 Lowest price, January 2..70 10i April 5 7 3 10} April 6 . . 7 4 1 April 8 .. 7 4 11 April 9 . , r . . . . 7 4 li April 10 7 3 0 April 11 7 3 11} PRICES OF METALS SHARP RISE IN TIN (Received April 12, 7.35 p.m.) LONDON, April 11 Following are to-day's quotations on the London metal market, compared with those of April 10: — April 11 April 10 Per ton Per ton £sd £ s d Copper, stan., spot .. 31 11 10J 31 10 1\ Copper, stan., 3 mos. 31 18 9 31 18 9 Copper, electrolytic . . 35 5 0 35 0 0 to to 36 0 0 35 15 0 Copper, elec., wire bars 36 0 0 35 15 0 Lead, soft, spot . . 12 3' 9 12 1 3 Lead, soft, forward . . 12 8 9 ]2 6 3 Spelter, spot .. . . 12 1G 3 12 10 3 Spelter, forward .. 13 1 3 13 1 3 Tin. stan., spot . . 225 7 G 223 10 0 Tin, stan,, 3 mos. . . 221 15 0 219 17 6 CANADA'S WHEAT STOCKS DECREASE ON LAST YEAR OTTAWA, April 11 Canadian wheat stocks at March 31 totalled 282,674,799 bushels, a decrease of 21,600,000 bushels compared with a year ago. PRICES OF EGGS FURTHER INCREASE LIKELY Further advances in the wholesale prices of eggs during next week are forecast. First-grade hen eggs were selling yesterday at the wholesale rate of 2s Ojd a. dozen, and it is considered probable that last year's maximum price of 2s 2}d, which obtained from April 26 until May 16, will be exceeded by the end' of next week, values of other grades rising in sympathy. The wholesale price of first-grade hen eggs early last January was Hid, and since then a seasonal rise has operated. "Further rises will probably occur during next week," said an Auskland distributor yesterday, "the principal factors, of course, being the seasonal drop in production and the approach of Easter." While the wholesale value of first-grade hen eggs was Is 9Jd last Easter, the price would probably be greater this year during the holidav period, which fell considerably later and coincided with a larger seasonal decrease in production. The present demand for eggs was good, and the wholesale price of 2s O.Jd compared with Is 10Jd at the corresponding date last year. The extremely warm weather experienced last summer had curtailed production somewhat, affecting the quantity of eggs placed Th cool storage, with a consequent increase in the demand for eggs mow coming forward. Another factor which affected the market was the clearance of eggs caused by the greatly increased export to Great Britain during the past two years, the exporters taking advantage of the high rate of exchange.