OIL INDUSTRY

New Zealand Herald, Volume LXXIII, Issue 22353, 26 February 1936, Page 9

OIL INDUSTRY

OUTLOOK BRILLIANT SHARE VALUES RISING LONDON, Feb. 21 The Financial Times expresses tho view that the outlook in the oil industry is brilliant. Even an oil sanction against Italy is not likely to invalidate the confident expectation of increased dividends for 1935 from tho leading companies. Anglo-Iranian shares, Burmahs, Shell and Trinidad Leaseholds are now between 90s and 95s each, and may exceed £5 within a few months, with the prospect of a further rise if the prediction of an increase in the price of petrol is fulfilled. MORTGAGE MARKET " A CERTAIN ANXIETY" "Lending institutions aro still waiting for the time when the old relations between mortgagor and mortgagee may be resumed with more fairness to the mortgagee than obtains at the present time," said Mr. H. D. Andrews, chairman of directors of the Permanent Investment and Loan Association of Canterbury, at the annual meeting at Christchurch last week. Mr. Andrews referred to the unsettled position of institutions and persons holding mortgages and other investments while waiting the disclosure of the details of any change in monetary policy. Ho said there existed in all business circles a certain anxiety until the details of any proposed changes become known. AUSTRALIAN DAIRYING PREFERENCE FROM BRITAIN Important recommendations affecting production and marketing of Australian dairy produce were submitted to the Minister of Commerce, Dr. Earle Page, by the Australian Dairy Produce Export Board at a conference in Melbourne recently. The board suggested that Dr. I age, when 110 visits Britain, should press foi; continued preference in favour of dairy produce from the Dominions. It also recommended standardisation of brands and boxes of Australian butter, and the establishment of experimental dairies. Preferences enjoyed by Australian butter and cheese on the British market by virtue of tho Ottawa agreement, which has nominally expired, will be reviewed by the British Government this year. It was suggested by the board to Dr. Page that he press for the existing preferential treatment for Dominions butter—lss per cwt. over foreign brands—and that if a tariff be imposed the same margin as fixed at Ottawa be continued. GOLD AND SILVER QUOTATIONS IN LONDON (Received February 25. 8.45 p.m.) LONDON, Feb. 24 ' Fine gold is quoted to-day at £7 Is an oz., compared with £7 Is Oid on Saturday. Silver is quoted at 19Jd an oz. spot, and 19 13-I6d forward, compared with 19Jd and 19Jd on February 21. The quotation for silver at per fine oz. is 21 7-16 d, same as 011 February 2l'. Tho following is a summary of the fluctuation in tho price per ounco ol fine gold this year: £ s (1

IliRliest price, January 2 . . 1 4 Lowest price, February 4 & 10 0 (1 February 18 1 1 21 February lil . . 01 February 120 1 1 February 21 . . 1 1 February 22 1 01 February 24 1 0