AUSTRALIAN EXCHANGES

New Zealand Herald, Volume LXXV, Issue 22961, 12 February 1938, Page 9

AUSTRALIAN EXCHANGES

INDUSTRIALS STEADIER METAL SHARES LOSE GROUND (Received Februarj 11, 8.5 p.m.) SYDNEY. Feb. 11 Buyers continued to display hesitancy on the Sydney Stock Exchange to-day, but industrial shares held their 'llio reverse in London metal prices caused renewed weakness in dependent stocks. Sales included:—

Bank New South Wales .. 32 5 o Nut. Bank A'asm (jt'G) .. 7 4 u Australian General Insurance o i<j 0 Uoulsbrougli-Mort .. .. 1 U 3 Adelaide titeam . . ~ J 14 0 Australian Gas (A) . .. 7 u 0 Tooth s Breweries .. .. •_> if, 0 Australian Glpss .. ~ 414 0 Associated News .. .. 12 0 Ditto (prcf.) .. .. 1 .t 71/British Tobacco- .. .. aiu 3 Colonial Sugar .. .. 40 15 () David Joiics .. .. .. 2 13 Dimlop-Pcrdriau .. .. 1 a 4'/ 3 Electrolytic Zinc .. .. 270 Ditto (pref.) .. .. •_> 1() 0 Farmers .. .. .. 0 18 0 General Industries .. .. 100 G. J. Coles . .. .. 4 0 0 Hume Pipe .. .. .. 111% Henry Jones .. .. 2 8 0 Kandos Cement .. .. 10 3 Millaquin Sugar .. .. 1 18 (i Menzies Hotel .. .. o I'J 0 Newbold Brick .. ..-11l 0 Sargents .. .. 10 0 Woolworths (Sydney) .. 13 10% Ditto (N.Z. delivery) .. 13 1) Wundorlich .. .. .. lot) Mount Morgan .. .. 0 0 2 Broken Hill South . . . 1 13 O North Broken Hi!' . .. . B 10 6 Bulolo Gold . .. .. 7 0 0 Rawang Tin .. .. o 0 2 Emperor .. .. .. OHIO Loloma . . .. .. O 18 4Vi Ula Yam Tin (N.Z. delivery) 10 0 Commonwealth Bonds.—3'/ a per cent, 1043, .CIO'.! 7s (id; 4 per cent, 11)38, £lOl 13s l»d; 1041, £lO3 18s s)d; 15)47, £lO5 ss; 1050, £ 105 128 Oil; 1003, £lOl lis 3d; 1055, £lO-1 12s Od. " MELBOURNE EXCHANGE Business in Melbourne included:— £ s d Nat. Bank A'asia (£5 pd.) 7 <1 0 Broken Hill Pty. .. •• 3 1 3 Ditto (con.) .. .. 1 13 3 Punlop-Ferdriau .. v ■ .. 1 •* 4 Electrolytic Zinc .. .. 2 7 3 Ditto (prof.) .. .. 2 0 ( G. J. Coles « 1» <> North Broken Hill . .. 30 5) Broken Hill South . .. 1 1«* J Mount Morgan .. .. 0 u 1 Mount Lyoll } 1 ? J? fißSr :: :: S

AUSTRALIAN TRADE INCREASED PRODUCTION LOWER PRICES OFFSET The Commonwealth Bank, in its statistical bulletin, suggests that, in spite of the fall in prices, _the value of Australia's exports tor 1937-38 should be about the same as for 19^36-37, when it was £159,000,000. The estimate is made on tho basis of available estimates of production, and of present prices for exports. Gold exports are included.

"The latest available estimates and the volume ot' wool received into store," the bulletin states, "suggest that wool production in 1937-38 will probably exceed that of 1936-37. bv between 50,000 and 100,000 bales. Progress with wheat harvesting has revealed advantageous yields, so that previous estimates of wheat production are .now considered somewhat too low. Current private estimates suggest a total production of about 175,000,000 bushels, compared with 151,000,000 bushels last year." The improvement in export prices noticeable during December proved temporary, the bulletin adds. The export price index (1927 equals 100) for January 13 fell to 78.2, compared with 82.3 011 December 16. Prices of wool, butter, lamb and sugar have declined, but there has been some improvement in metnls. Some wool may yet remain unsold at the end of the current year.

FAT PIG PRICES NEW SCHEDULE RATES EXPORT VALUES ALTERED Alterations in the rates for porkers have boon made in the export schedule of fat pig prices. There has been a decline of id per lb. in grades up to 1001b., while from 1011b. to 1201b. the rate has been increased by id.

• Tho current schedule is as follows: Up to 801b.: Prime, 6d per lb.; seconds', ssd; unexportable, od. 811b. to 1001b.: Prime, of; seconds, 5Jd; unexportable, 4gd. 1011b. to 1201b.: Prime, 6Jd; seconds, sjjd; tinexportable, sid. 1211b. to 1601b.:. Prime No. 1, 6gd; prime No. 2, 6d; prime No. 3, s|d; seconds, sgd; unexportable, 6d. 1611b. to 1801b.: Prime No. 1, 6gd; prime No, 2, Sd; prime No. 3, 4gd; seconds, 4gd; unexportable, sd. 1811b. to 2001b.: Prime, seconds, 4d; unexportable, 3Jd. Over 2001b.: Prime, 3jd; seconds, 3d; unexportable, 2.Jd, Choppers, 3id; unexportable, 2d. Condemned, 2d less per lb. than prime, all grades. Insurance, 9d a head.

Schedule prices for lambs remain unchanged.

GOLD AND SILVER

QUOTATIONS IN LONDON

(Received February 11, 0.30 p.m.) LONDON, Feb. 10 Fine gold is quoted to-day at £6 19s 8d .nn oz., same as yesterday. Silver is quoted at 20 5-16 d an oz. spot and 19 15-16 d forward, compared with 20id and 19 15-16 don February 8.

The quotation for silver at per fine oz. is 21 15-16J, same as yesterday.

Tho following is a summary of the fluctuations in tho price per ounce of fine gold this year:

£ s d Hishest price, February 3 .. V 10 10 (Lowest prico, January 3 .. 0 ]» 5 February 4 0 19 9 February 5 .. .. .. oil) 0 February 7 6 19 0 February 8 0 19 8 February 1) 8 19 8 February JO 6 10 8 PRICES FOR METALS AN ALL-ROUND EASING LONDON. Feb. 10 Following are to-day's quotations on the London metal market, compared with those of February 9:— l / i Feb. 10 Feb. 9 , Per ton Per ton £ 8 d £ B (I Copper, stan., spot 38 10 0 30 1 3 . Coppor, St., 3 nios. 38 15 0 30 5 7 1 / 3 Copper, electrolytic# 4:2 10 0 43 5 0 <o to 43 5 0 43 15 0 Copper/elect., wire bars .. 43 5 0 43 15 0 Lead, soft, spot .. 14 10 4% 15 5 7% Lead, soft, Spelter, spot .. 13 15 7'/ a 14 3 iy. Spelter, forward .. 14 O 7% 14 8 Iy a '.Tin, stan., spot .. 180 7 6 181 17 6 Tin, stan., 3 raos. 180 7 6 181 13 9 j

MORRINSVILLE RATES [from our own coJinksponnkntJ MORRINSVILLE, Friday A report on rate collections for this year was received at the Morrinsvillo Borough Council's meeting, it stated that rates for 1937-38 totalled £8202, of which £6607 had been collected to date.

The amount of current rates' outstanding is £1290. Arrears of rates for the year totalled £927, of which £467 has been collected, leaving £460 outstanding.