MILD REACTION

New Zealand Herald, Volume LXXII, Issue 22191, 19 August 1935, Page 5

MILD REACTION

LONDON STOCK EXCHANGE WAR FEAR ONE FACTOR (Rcceiv.'J August 18. 5.5 p.m.) LONDON, Aug. 17 After a surprisingly active period for the commencement of August, which is described as unparalleled since the boom year of li'2B, the London Stock J']\1 change experienced a setback on Wed- ■ nesday. This was duo partly to fears ■ regarding Abyssinia, which were ae- ( centuated by General Smuts' speech on the possible racial consequences of a . war between the blacks and whites, but profit-taking was mainly responsible. Many speculators sold shares which had advanced sharply during the recent ■ spell of activity, and this mild reaction ' generally is regarded as a healthy pause for the undertone in all the markets ! is good. Hritish funds generally show declines, the most pronounced being in 2£ per cent Consols, which are 27s (3d lower than a week ago. A new Trinidad loan of £1,170,000 at 3 per cent at par was issued on Monday and was over-subscribed -no fewer than 41 times and no allotments were made to applicants under £IO,OOO. The loan opened at a premium of J per cent, but this rapidly slipped away to I discount. Other Dominion notably NewZealand and Australian, remain steady, though the premium on the recent Australian 3 per cent issue fell slightly to 1$ premium.. FOREIGN EXCHANGES FRANC AND DOLLAR STRONGER British "Wireless RUGBY, Aug. 17 The following rates on foriegn exchanges were current yesterday, compared with the cabled quotations on August 15 and par:— Aug. 1G Aug. 15 Pnr Montreal, dol. .. 4.97'; 4.98% 4.866 New York. dol. •, 4.97 n / le 4.98%. 4.866 Paris, fr. ~ 75 75'/i« 124.21 I Brussels, belga . 29.41 29.44% 35.00 I Geneva, fr. .. 15.17% 15.20% 25.22 Amsterdam, fl. . 7.32 7.11% 12.10 Milan, lire .. GO 1 ; GO 7 /-,, 92.4G Berlin, r.m. .. 12.150 12.33 20.43 Stockholm, kr. . 19.39% 19.39% 18.159 Copenhagen, kr. 23.39% 23.39 V, 18.159 Oslo, kr. .. 19.90'/a 19.90% 15.159 Vienna, seh. .. 26% 26% 34.585 Prague, kr. .. 119 v/ la 119% 164.25 Helsingfors, mark 226% 226% 129.23 Madrid, pes. . . 36%, 36%, 25.221 Lisbon, escu. .. 110% 110% 110 Athens, dr . . 517* 517* 375.00 Bucharest, lei. . G2s* 625* 813.G niodeJaneiro.mil. 4Vid* 4V,d* 5.899 d Buenos Aires, dol. 35d* 35d* 47.619 d Montevideo, dol. 39% d 39 , id 51 d Bombay, rupee . IS'ad 18% d 18d Shanghai, dol. . 17"/ 10 d 17% d Hongkong, dol. . Yokohama, yen . 14% d 147i«d 24.58 d 'Batavia, fl. .. 7.32% 7.32% 12.10 Belgrade, din. .. 217 216 276.31 Warsaw, zloty .. 26.21 26.21 43.38 •Sellers. (Received August 18, 5.5 p.m.) LONDON, Aug. 17 On the foreign exchange market today the following quotations ruled: — New York, 4.96 15-16 dollars; Paris, 74 15-16 francs; Batavia, 7.29J florins. NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates on Saturday, on a Mew Zealand currency basis, subject to alteration without notice:— Selling: United States Canada T.T 3.95% 3.99% On demand .. 3.98% 3.93% Buying: On demand .. 4.03 4.04% Following are the latest rates for purchases ancl sales of foreign exchange quoted by the Bank of New South Wales, Auckland. They are subject to alteration without notice: — T.T. On demand To £1 N.Z. Currency Selling Buying Selling U.S.A., dol. .. 3.977, 4.03% 3.98% Canada, dol. .. 3.39% 4.04% 3.99% France, fr. .. 59.54 61.14 59.59 Noumea, fr. .. 55.79 62.19 55.84 Papeete, fr. .. 58.79 62.19 55.54 Belgium, belga .. 23.324 Germany, r.m. .. 9.682 Italy, lire .. .. 47.74 Switzerland, fr. .. 12.015 12.490 12.025 Holland, fl. .. 5.762 6.0G2 5.7G6 Jara, fl 5.762 6.037 5.766 Sv. rden, kr. .. 15.457 15.827 15.467 Norway, kr. .. 15.8(57 16.237 15.877 Denmark, kr. .. 17.878 18.248 1 7.888 Austria, sell. . . 20.57 Czecho-Slovakia, cr. 95.57 N.Z. pence to Japan, yen .. 17% ~ Shanghai, dol. .. 22 1, % Sxi?/ India, rupee .. 22", a, 22/ 3 , Ceylon, rupee . . 22 a %, 22/ i, 22 /a, Hongkong, dol. . . 30'. 33 29 %a 80 Ai Singapore, dol. . . 35% 34% 8 35/ t<( The cost in New Zealand currency of the pound sterling, and of the principal oversea units, on the latest quotations, is as follows: — Present Price Par sd s d Australia, pound .. 19 10.81 20 0.00 London. jWnd .. 24 10.65 20 0.00 Fiji, pound .. .. 22 5.66 20 0.00 New York, dollar .. 4 11.93 4 1.31 Montreal, dollar .. 4,11.97 4 1.31 Paris, franc .. •• 0 3.98 0 1.98 Berlin, reichmark .. 2 0.29 0 11.74 Copenhagen, krone .. 1 1.33 ' 1 1.22 Yokohama, yen .. .. 1 5.87 2 O.oS CUSTOMS EXCHANGE RATES Bates of exchange ruling at the announced dates of departure of vessels named are shown in the following table. They are subject to confirmation bv the Customs Department when the exact time of departure is learned on arrival of the vessel in New Zealand. Finally declared rates are marked*: — Anglo Canadian, America, dollars 4.95%. Niagara, Canada, dollars . 4.%/£ Narbada, India, rupee . . 18.sd Melbourne Maru, Japan, yen . . 14%,<1 Canadian Planter, Canada, dollars 4.96/4 Sheaf Holme. America, dollars . 4.96% NEW COMPANIES REGISTRATIONS IN SOUTH Registration of the following southern companies is announced in the Mercantile Gazette: — PUBLIC

Bond's Hosiery Mills (N.Z.), Limited, hosiery manufacturers, Wellington. Capital: £50,000 in 50,000 shares of £1 each. Subscribers: Wellington— S. Paterson, 600; D. R. Menzies, 500; F. W. Vickerman, 500; A. K. S. Mackenzie, 1; M. 0. Burnett, 1; J, 8., Salter, 1; A. B. Buxton, 1. Nemona Gold Dredging Company, Limited, goldniiners, Hokitika. Capital: £IB,OOO in 360,000 shares of Is each. Subscribers: Greymouth—l'. C, Heaphy, 5000; W. Meldrum, 4000; E. Warnes, 5000; W. Hill, 4000; J. F. C. Moore. 1000; H. G. Dixon, 4000. Wellington— G. B. Bradshaw, 3000. PRIVATE Newman Brothers (North Island)., Limited, service car proprietors, Nelson. Capital: £6OOO in 6000 ordinary shares of £1 each. Subscribers: Newman Brothers, Limited, 4000. Napier— Hawke's Bay Motor Company, Limited, 2000. Edmonds (T. J.), Limited, manufacturers of baking powder, etc., Christ-clurt-ch. Capital: £200,000 in 200,000 shares of £1 each. Subscribers: Christchurch—J. E. M. Edmonds, 20,496; L. J. Cropp, 24,496; G. 1. Williams, 23,704; I. V. Ballantyne, 23,504; A. V. Edmonds, 23,496; E. E. Edmonds. 1600; G. H. Edmonds, 23,496; J. 1). Edmonds, 23,504; A. L. Cropp, 8200; P. J. Smith, 4000. London—B. E. Jauncey, 23,504. Gyrotiliers (N.Z.), Ltd., machinery manufacturers, Christchurch. Capital: £SOOO in 5000 shares of £1 each. Subscribers: Cjiristchurch—A. O. Paterson. 3000; F. E. Twyford, 2000. Gibbons (C. E ) and Company, Limited, nurserymen, Christchurch. Capital: £2678 in 2678 shares of £1 each. Subscribers: Christchurch —E. M. Gibbons, 10; C. W. Evans, 1; E. C. Gibbons, 2667.