AUSTRALIAN EXCHANGES

New Zealand Herald, Volume LXXII, Issue 22108, 14 May 1935, Page 5

AUSTRALIAN EXCHANGES

YESTERDAY'S BUSINESS SYDNEY BUYERS CONFIDENT (Received May 13, 7.45 p.m.) SYDNEY, Way 13 On the. Sydney Stock Exchange todav, as the outcome of the New South Wales general election had been anticipated, there was nothing in the way of spectacular rises, but the general trend of values was higher. Operations extended over a wide range of trading and industrial issues with confident buying in all departments. This morning's sales included: —Commonwealth bonds, 3i per cent, 1948, £IOO ss; 4 per cent, 1947, £lO5 16s 3d; 1950, £lO6 15s; Bank of New South Walejs, £3l 7s 6d; Associated News, 235; ditto, preference, 245; British Tobacco, 395; Colonial Sugar, £4l 12s 6d; Dunlop-Perdriau, 17s; Lustre Hosiery, 27s 3d. Later sales included: —Bank of New South Wales, £3l 7s Gd; National Bank (£5 paid), £6 6s; Union Bank, £8 15s; Colonial Sugar, £4l 12s 6d; Associated News, 235; ditto, preference, 2ls; Adelaide Steam, 30s; Australian Gas, A shares, £8 2s; Australian Glass, 61s 9(1; Tooth's Brewery, 52s 6d; Dun-lop-Perdriau, 17s lid; Goldsbrough Mort., 31s 3d; Wilcox Mofflin, 10a 6d; Electrolytic Zinc, 25s 6d;' Farmers'. 26s 9d; Anthony Hordern, 18s 9d; David Jones, 41s 9d; Wunderlich, 21s 3d; General Industries, 16s lOJd; Mount Morgan, 38s 6d; Mount Lyell, 20s 3d; Broken Hill Proprietary, 56s 6d; Placer Development. £27 18s; Euratha Gold, 4s; Peninsula Tin, 20s 9d.

Commonwealth 4 per cent bonds, 1938, £lO3 15s; 1941. £lO5 6s 3d; 1944. £lO4 12s 6d; 1953, £lO7 ss; 1955, £lO7 16s 3d; 1957, £lO7 15s; 1959, £106; 1961, £lO6 10s. Melbourne sales included: —Commercial Bank of Australia. 15s lid; Howard Smith, 15s 4d; Herald and Weekly Times, 57s 6d; Australian Iron and Steel, preference. 22s lOd; Nestle's, preference, 38s 6d; Mount Lyell, 20s,

PROSPECTS FOR WOOL

HOPES OF BETTER VALUES ' KEENNESS OF DEMAND . LONDON, May 11 The strong opening of the London wool sales, following the firmness of the markets in Australian selling centres, has been naturally reflected at Bradford. Topmakers have been able to advance quotations. The -Yorkshire Observer says:—What the trade now wants to know is whether the present advance is likely to be maintained. Hesponsible men in the industry are saying to-day they see no reason why wool in the present sound position should show any weakness in price between now_ and the opening of the next Australian selling season. The present keen demand by all wool-using countries, and the fact that the overseas selling season is drawing to a close, with a consequent diminishing in supplies there, encourage the belief that prices will remain somewhere near the present level. More than one indeed, predicts still dearer wool before the season ends. There seems to be general satisfaction among wool importers and topmakers at the recent advance. They believe it will bring out business which has been held back because buyers have been uncertain about the trend of prices. According to reports, there have been inquiry which suggest that a buying movement is not far off.

FOREIGN EXCHANGES

STERLING RATHER STRONGER British Wireless RUGBY, May 11 The following rates on foreign exchanges are current, compared with the cabled quotations on May 10 and par: — May 11 May 10 Par

•Sellers. NEW ZEALAND QUOTATIONS, The Associated Banks (other than the Bank of New South Wales) quoted the following dollar-sterling rates yesterday, subject to alteration without notice: — United States Canada Conversion dollar bills received for collection and sale dollar drafts and telegraphic transfers . . . . 4.85 4.85 Purchase dollar bills . . 4.89 4.88 On a New Zealand currency basis these rates are .equivalent to: — Sellins*: United States Canada T.T. .. • • 3.89% 3.89% On demand .. 3.90 3.90 Buyin?: On demand .. 3.95% 3.95% Following are the latest rates for purchases and sales of .foreign exchange quoted by the Bank of New South Wales, Auckland. They are subject to alteration without notice: — T.T. On Demand

The cost in New Zealand currency of the pound sterling, and of the principal overseas units, on the latest quotations, is as follows: — Present Price Par s a d

CUSTOMS EXCHANGE RATES Kates of exchange ruling at the announced dates of departure of 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 are marked*: — Australind, America, dollars .. 3.83% Cornwallis. Cnn-idn. dollars . . 4.8U Aornnsi, America, dollars . . . . *4.85 Aornnsi. Canada, dollars . . . . *4.SG Cape York, America, dollars . . 4.81% Canadian Scottish, Canada, dollars 4.84% Monterey, America, dollars . . 4.8-2% Aldington Court, America, dollars 4.83'/i«

Montreal, dol. .. 4.8G% 4.85 3 / 4 4.8GG New York, dol. . 4.80% 4.85% 4.SG6 Paris, fr. .. 73 l3 / ia 73 u /ie 124.21 Brussels, belga . 28.76 28.09 35.00 Geneva, fr. .. 15.05 15.01 25.22 Amsterdam, fl. . 7.18'/i 7.17% 12.10 Milan, lire .. 59 5 /l n 57% 92.4G Berlin, r.m. .. 12.08% 12.07 20.43 Stockholm, kr. . 19.39% 19.39% 18.159 Copenhagen, kr. . 22.39% 22.39% 18.159 Oslo, kr. .. 19.90% 19.90% 18.159 Vienna, sch. .. 26 25% 34.585 Prague, kr. .. llG'Vi# 116% 164.25 Helsingfors, mark 22G%_ 22G% 129.20 Madrid, pes. . . 35.G25 35°/i8 25.221 Lisbon, e»cu. .. 110 110 110 Athens, dr. .. 510* 509* 375.00 Bucharest, lei. . 480 480 813.6 KiodeJaneiro.mil. 4%d* 4%d* 5.899d Buenos Aires, dol. 35%d* 35%d* 47.6l9d Montevideo, dol. 40%d* 40%d* 51 d Bombay, rupee . 18'/id 18%d 18d Shanghai, dol. .. 20%«d 20%d — Hongkong, dol. . 28.875d 28%»d — Yokohama, yen . 14% a d M':«d 2 : i.58d Batavia, fl. . . 7.17% 7.17% 12.10 Belgrade, din. . . 213 213 276.31

To £1 N.Z. Currency Selling Buying Selling U.S.A., dol. 3.89% 3.91 3.90 Canada, dol. a.e9V 3 3.94 1 /, 3.90 France, fr. .. 58.r.r, 60.26 58.71 Noumea, fr. 57.91 61.31 57.96 Papeete, fr. 57.91 61.31 57.90 Belgium, belga . . 22.797 — 22.812 Germunyi r.ra. .. 9.497 — 9.50-2 Italy, liie . • 40.98 .— 47.02 Switzerland, fr. .. 11.912 12.387 11.922 Holland, fl. • • 5.653 5.953 5.057 Java, fl. ■ • • 6.649 5.924 5.653 Sweden, kr. •• 15.457 15.827 15.407 Norway, kr. .. 15.807 16.237 15.877 Denmark, kr. .. 18.878 18.218 18.888 Austria, sch. 20.22 — 20.24 Czecho-Slovakia, cr. 03.08 — 93.13 N.Z. pence to J7*%j 25'%, Japan, yen Shanghai, aol. .. India, rope" 24%« 25»% a 22% 22'/, 22% 22"/„ 22 j /3J Ceylon, rupffe 22 23 / 33 Hongkong, dol. .. 86% 35 9 /«e 3G"/ifl 85 y ia Singapore, dol. .. 85% 3'Xe

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