SYDNEY EXCHANGE
YESTERDAY'S BUSINESS FLUCTUATION IN PRICES (Received February 14, 9.5 p.m.) SYDNEY. Feb. 14 Fluctuations in industrial investment prices oil the Sydney Stock Exchange to-day balanced in favour of sellers. Values -of Government securities continued to weaken. Australian Glass shares hardened. This morning's sales include:—Commonwealth bonds, 3 per cent, 19-|B, £94 15s; 3i per cent, 1948, £99 7s 6d; 3J per cent, 1942, £101; 4 per cent, 1938, £102; 4 per cent, 1941, £lO2 15s; 4 per cent, 1944, £lO3 12s6d; 4 per cent, 1947, £105; 4 per cent, 1959, £lO5 2s 6d. Commercial Bank of Australia, 19s 7|d; Bank of New South Wales, £34 17s 6d; Union Bank, £.lO ss; Toohey's, 345; Tooth's, 545; ditto, rights, 325; Associated News. 23s 3d; ditto (preference), 2-ls 6d; .Australian Glass, 88s 6d; Broken Hill Proprietary (first instalment paid), 29s 9d. Later sales were: —Bank of New South Wales, £34 17s 6d; Commercial Bank of Australia, 20s; Union Bank, £lO ss; Bank of Adelaide, £6 18s 9d; Automatic Totalisators, 21s 3d; Adelaide Steamship, 335; Howard Smith, 18s 4Jd; Burns-Philp, 71s; Australian Gas, A shares, £8 Is; British Tobacco, 42s 6d; Tooth's, 55s 3d; Carlton Brewery, 55s 3d; Australian Glass, 88s 6cl; Goldsbrough-Mort, 33s 3d; Greater J. D. Williams, 8s 7d; Henry Jones, 40s 6d; Electrolytic Zinc (preference), 39s 9d; Anthony Hordern (preference), 25s 9tl; General Industries, 21s 3d; Hume Pipe (Aus.), 17s William Adams, 10s 9d; Cash Orders, 31s 4Jd; Sargent's, 25s 9d; Peter's, 43s 6d; Garratt's, 7s 8d; W. R. Carpenter, 44s 6d; Cumberland Paper, 33s 3d; Richardson and Wrench, 28s Gd; Woolworth's (second preference), 26s 6d; Woolworth's (New Zealand delivery), 26s 4Jd; Mount Morgan, 18s l}d; Broken Hill Proprietary, 60s 9d; South Broken Hill, £5 15s; Zinc Corporation, 73s 3d; Kuala Kampar, 15s; Rawang Tin, 9s 3d; Tavua, 2s lid. Melbourne sales included:—Commercial Bank of Australia, 19s 9d; Golds-brough-Mort, 33s 6d; Australian Glass, 88s 9d; Electrolytic Zinc, 36s 3d; G. J. Coles, 75s 6d; Herald and Times, 665; Australian Iron and Steel (preference), 25s 6d; Emperor, 14s; Loloma, 24s 6d; Enterprise, 70s. AUSTRALIAN BANKING EVIDENCE FOR COMMISSION MANAGER'S VIEWS STATED MELBOURNE, Feb. 14 Continuing his evidence before tho Banking Commission yesterday, Mr. L. J. McConnen, manager of tho National Bank of Australasia, Limited, claimed that the diversion of funds to savings banks had reduced the cash reserves of the trading banks and that the savings banks, in turn, had allowed a large part of their funds to lie at fixed deposit in tho Commonwealth Bank, to tho exclusion of tho trading banks.
Mr. McConnen said that in a country like Australia tho scope for influencing price levels by banking policy might bo regarded as limited. From tho point of view of liquid reserves, it would be undesirable to extend the use of Treasury bills. Any renewal of that policy might have an adverse effect upon public confidence respecting the financial situation. However, should it be found desirable to increase the cash reserves of the trading banks to meet a continuance of tho present drain, probably it would bo preferable that some instrument other than Treasury bills should be used. In that event tiie instrument should bo far removed from the political sphere. SHARE VALUES INDEX NUMBERS COMPARED The following table of share price index numbers (base being the average prices in each group in 1926 = 1000) has been compiled by the Government Statistician: 1932 1933 1931 1935 Banks . . . . 677 742 779 776 Insurance . 919 1,190 1,450 1.579 Loan and agency 470 545 660 583 Frozen meat . . 701 835 868 816 Woollens .. 778 923 1.159 1.272 Breweries .. 602 753 989 1.14S Gas .. .. 969 1,053 1,235 1.308 Timber .. .. 348 411 547 623 Minerals .. .700 753 883 1.077 Miscellaneous . . 715 889 1,083 1.213 All groups . . 703 • 822 957 1,023 PRICES OF METALS TIN A SHADE EASIER (Received February 14, 7.35 p.m.) LONDON, Feb. 13 Following are to-day's quotations on the London metal market, compared with those of February 12: — Feb. 13 Feb. 12 Per ton Per ton £sd £ s d Copper, stan., spot . . 35 8 11 85 1 101 Copper, stan., 3 mos. 35 10 71 35 9 41 Copper, electrolytic . . 39 5 0 39 5 0 to to 39 15 0 89 15 0 Copper, elect., wire bars' 39 15 0 39 15 0 Lead, soft, spot . . 15 13 9 15 12 6 Lead, soft, forward . . 15 16 8 15 15 0 Spelter, Bpot . . .. 14 12 6 14 12 G Spelter, forward . . 14 17 6 14 17 0 Tin, stan., spot . . 208 2 6 208 17 6 Tin, stan., 3 moi. . . 201 7 6 201 12 6
GOLD AND SILVER QUOTATIONS IN LONDON (Received February 14, 7.35 p.m.) LONDON, Feb. 13 Fine gold is quoted to-day at £7 0s IOJd, same as yesterday. Silver is quoted at 19Jd an or,. spot and 193 d forward, compared with 19Jd and 19 3-16 d on February 11. The quotation for silver at per fino 07.. is 21 7-16 d, compared with 21id yesterday. The following is a summary of tho fluctuation in tho price per ounce of fino gold this year:— £ a d Highest price, January 2 .. 7 14 Lowest price, February 4& 10 7 0 6 February 7 7 0 7i February 8 .. . . ..708 February 10 7 0 6 February 11 . . . . ..708 February 12 . . ..70 101 February 13 7 0 101 MELBOURNE PRODUCE MELBOURNE, Feb. 14 Following are to-day's quotations on the Melbourne produce markets:— Wheat, 3s Bid. Flour, £ll 17s 6d. Bran, £5 15s. Pollard, £6 ss. Oats, 2s 2d to 2s Barley, English, 2s 9d to 2s lOd. Potatoes. £8 to £8 ss. Onions, £5 10s to £5 15s.
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Bibliographic details
New Zealand Herald, Volume LXXIII, Issue 22344, 15 February 1936, Page 9
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938SYDNEY EXCHANGE New Zealand Herald, Volume LXXIII, Issue 22344, 15 February 1936, Page 9
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