AUSTRALIAN EXCHANGES

New Zealand Herald, Volume LXXIII, Issue 22540, 3 October 1936, Page 9

AUSTRALIAN EXCHANGES

A QUIET MARKET FIRM UNDERTONE EVIDENT (Received October '2, S.tr> p.m.) SYDNEY, Oct, 2 The Sydney Stock Exchange to-day was quiet., with a firm undertone. Goldmining shares were irregular. Sales included: e s (t ( ominercml If,'ink A list r;i I i;i. o is (; National Is;ink (XT. paid) . 7 10 ol(is!>ron irli-Mort- .. t I t 0 Adelaide Steam 1 S (i Australian Gas (A) .. 7' 7 n Carlton Brewery . . a :{ o Tooths . . . . •_> i<; o Anthony Flonlern .. 0 is (i Australian Class 1 13 ;> Ditto i 1:t f i lirifish Tobacco :i si Broken Hill Proprietary . . 17 Ditto .">l7 0 Ditto (new) '_> 17 <1 Colonial Sugar 43 10 0 David .loncs 2 0 <; Lustre . . 1 r> 0 Morris Hedstrom ICO Broken Mill South 5 IS 0 Emperor 0 15 0 Koroere . . 0 10 Mandated Alluvials . . 0 1-1 .'} Tavua . . . . Oil Commonwealth Bonds.—per cent, I!MS, C 0(! 10s; 1 per cent, 1938, ,ClO2 7s c.d: 1011, A 1 ()'_> 7s (id; 1950, 1101. MELBOURNE EXCHANGE On the Melbourne market goldmining shares were irregular. There was a good demand for Zinc Corporation, with North and South Broken Hills weaker. Business included:— C s d E. 8. and A. Rank . . 5 I<> O National Hank (£5 paid) . . 7 4 0 Ditto (CIO paid) . .. 14 8 0 Carlton lirewery . . . . 8 4 0 Aust. Iron and Steel (pref.) 1 <> 1% Drug Houses . . , , 1 10 II Electrolytic Zinc .. .. 2 3!) Ditto (pref.) . . 2 0 0 G. J. Coles 3 IS 0 General Motors . . . . 13 7 Myers .. .. 1 IB S Sulphide Corporation . . 0 "Hi 5 Yarra Falls . . . 2 0 (5 Broken Hill South . . . . 517 0 Emperor .. .. .. 0 15 2 Loloma. . . . . . . 13 3 Mount Lyell . . .. 10 lO 1 /, Mount Morgan .. .. 0 13 11 North Broken Hill .. .. 9 0 0 Upper Watut .. .. 0 2 0 Zinc Corporation . . . . 4 0 9 STOCK EXCHANGE PRACTICE SUGGESTIONS TO CONFERENCE Suggestions for the improvement of Stock Exchange practice were made by Mr. J. W. Prater, chairman of the Auckland Stock Exchange, yesterday when discussing with members the annual Stock Exchange conference to be held in Wellington next month. Mr. Frater suggested that each exchance in New Zealand should have an opportunity of approving a prospectus of a company before the company was listed. At present if a new company's prospectus was approved by any of the exchanges the company could add a clause making the approval, and the subsequent listing, apply to all the exchanges. The fact that the Bank of New South Wales did not issue scrip was considered by Mr. Frater to leave an opening for fraud. The hank had a charter over 100 years old under which it was expressly precluded from issuing scrip. To overcome the difficulty it was suggested that the bank should register all transfers in Wellington. Other questions raised by Mr. Frater and discussed by members were the amended regulations regarding investment of trustee funds, the marking of transfers by the secretary, and the new price regulations. GOLD AND SILVER QUOTATIONS IN LONDON (Received October 2, 7.45 p.m.) LONDON, Oct. 1 Fine gold is quoted to-day at £'7 Os <i*d an ounce, compared with £7 Os 2d vesterday. ' Silver is quoted at 19 15-lGd an ounce spot and forward, compared with 19|d both positions yesterday. The quotation for silver at per fine oz. is 21 id, compared with 21d on September 21. The following is a summary of the fluctuation in the price per ounce of fine gold this year: — £ s d lliehest. price, January 2 .. 7 1 4 Lowest price, September 23 .. 0 17 2A September 24 . . • • • • J 3 September 25 .. 0 1 / 0/2 September 28 . . £ September 29 .. ' September 30 .. • • • • October 1 . . • • ..70 &/ 2 PRICES OF METALS COPPER AND TIN FIRMER (Received October 2, 7.35 p.m.) LONDON, Oct. 1 Following are to-day's quotations on the London metal market compared with those of September 28:— Oct. 1 Sept. 2S Per ton Fer ton ,C s d £ s d Copper, stan., spot 39 14 4% 39 8 1% Copper, st., 3 mos. 39 15 7'/ 3 3!) 11 10/ 3 Copper, electrolytic 43 15 0 44 () 0 to to 44 5 0 44 10 0 Copper, elect., wiro liars ..41 5 0 41 10 0 Lead, soft, spot . . 18 3 9 18 0 0 Lead, soft, forward 18 2 0 17 18 9 Spelter, spot . . 13 17 0 14 0 0 Spelter, forward . . 14 3 9 11 5 0 Tin, stan., spot. . 202 7 0 200 5 0 Till, stan., 3 mos. 199 2 0 197 18 9 TIN STATISTICS LONDON, Oct. 1 The statistical position of tin at the close of September, compared with previous periods, was as follows: — .July Auk. Sept. Tons Tons Tons World visible supplies . . 13,000 14,425 12,003 Straits carry-over 2,142 1,597 2,470 Supplies .. 10,019 10,321 7,592 Deliveries .. 10,307 8,890 9,354 TRUSTEE SECURITIES A legal opinion as to the effect of the Trustee Amendment Act passed last year lias been obtained by the New Zealand Stock Exchange Association. The opinion is to the effect that where trustees have the power to invest in certain specified classes of securities they may purchase New Zealand- Government securities at any price they think fit, but in the case of other securities they may not pay more than 15 per cent above pnr or redemption value, and if the securities are redeemable within 15 years, then trustees may not pay more than redemption value. A trustee may retain, until redemption, any security already purchased pursuant to the main Act. STOCKS OF RUBBER LONDON, Oct. I Stocks of rubber at the end of September, as compared with recent months, were: June July Aug. Sept. Tons Tons Tons Tons London .. 50,140 49,508 45,521 43,903 Liverpool . 0(1.55 1 03,711 02,54 5 59.701 WHEAT IN CHICAGO CHICAGO, Oct. 1 Wheat. —December, 1 dollar 13-.1 cents a bushel; May, 1 dollar 11£ cents; July, i)Bi cents.