AUSTRALIAN EXCHANGES

New Zealand Herald, Volume LXXV, Issue 22967, 19 February 1938, Page 11

AUSTRALIAN EXCHANGES

HESITANT INVESTORS WEAKNESS IN BARRIERS (Received February 18, 8 p.m.) SYDNEY, Feb. 18 Investors were in a hesitant mood on the Sydney Stock Exchango to-day, and tho amount of business transacted was tho smallest for somo time. The market was featureless. Sales included:— £ s d Commercial Banking, Sydney 20 3 0 Bank of Now South Wales 32 7 0 Bank of Adelaide .. .. 0 7 H Nat. Bank A'asia (£5 paid) 7 5 0 Australian Gas (A) .. 7 11 0 Howard Smith .. .. 10 0 Tooth's Brewery .. .. 215 0 Anthony Hordern .. .. 018 10% Associated Newspapers .. 12 4% Ditto (prcf.) .. .. 15 0 British Tobacco .. .. 2 0 0 Broken Hill Pty 3 19 Colonial Sugar .. .. -10 12 0 Dunlcp-Perdriau (prcf.) .. 1 10 0 Farmers .. .. .. 1 13 0 G. J. Coles .. .. 3 10 0 J. McGrath ../ .. .. 2 0 3 Kandos Cemont (ex div.) .. 1 0 0 Peters .. .. .. 2 15 0 Sargents 10 0 Taubmans . . .. .. 3 (! 0 Traders' Finance .. .. 14 0 Taranaki Oil .. .. 0 (> 0 Woolworths (Syd.) .. 10 0 North Broken Hill .. .. 2 0 0 MELBOURNE EXCHANGE Barriers were weaker on the reduction of tho North Broken Hill dividend. Industrials and bonds were steady. Business included: — £ s d Commercial Bank Australia 0 10 0 Nnt. Bank A'asia (£5 paid) 7 0 0 British Tobacco .. .. 2 10 0 Broken Hill Pty 3 2 0 Drug Houses .. .. 10 4% Dunlop-Perdrian . . .. 13 0 Ditto (pref.) .. .. 1 18 0 Electrolytic Zinc .. .. 2 0 3 Ditto (pref.) .. .. 2 8 0 G. J. Coles .. .. 3 10 0 Broken Hill South .. .. 113 lV a Emperor .. .. .. 0 117 Mount Lyell .. .. 1 10 0 Mount Morgan .. .. 0 0 2 North Broken Hill .. 2 0 6 NORTH BROKEN HILL QUARTERLY DIVIDEND REDUCTION TO 9D A SHARE (Received February 18, 8 p.m.) MELBOURNE, Feb. 18 The directors of North Broken Hill, Limited, have declared a quarterly divilend of 9d a share, compared with Is 3d a share in the previous quarter. The payment is the second quarterly listribution for the current financial •ear which opened on July 1. The divilend for the corresponding quarter ast year was Is 6d a share, tne full

year's payment of 6s a share, or 120 per cent, being a record. MACDUFFS, LIMITED NEW COMPANY'S FINANCES

The directors of Macduffs, Limited, in their statutory report to January 31, state that the total number of sharqs allotted by the company is 355,5)30, comprising 213,846 ordinary shares of £1 each and 142,084 preference shares of £1 each, and of these shares 210,000 ordinary and 50,000 preference have been allotted as fully paid up otherwise than in cash, and 3846 ordinary and 92,084 preference have been allotted subject to the payment of the full amount thereof in cash. At the forthcoming statutory meeting of shareholders, a resolution will be submitted authorising the directors to vary the agreement made with the original Macdutfs, Limited, by increasing the cash consideration payable from £30,000 to £31,553. It is proposed that the additional £1553 will be applied in the payment of the preferential dividend due to the preference shareholders of the old Alacduffs, Limited, for the period from June 30, 1937, up to January 5, 1938, the date from which the present company assumed the business. The capital account shows receipts of share moneys at £93,088. The revenue account shows receipts in ordinary course of business, £98,303; National Bank of New Zealand, less cash in hand, £174,947; total, £273,251. Payments: Balance from capital account, £200,692; purchases, administrative and general expenses, £72,558.

GOLD AND SILVER

QUOTATIONS IN LONDON LONDON, Feb. 17 Fine gold is quoted to-day at £6 19s lOd an oz., compared with £6 19s 9d yesterday. Silver is quoted at 19 5-16 d an oz. spot and 19J|d forward, compared with 20d and 19 11-16 d yesterday. The quotation for silver at per fine oz. is 21id, compared with 21 9-16 d yesterday.

The following is a summary of the fluctuations in the price per ounce of fine gold this year:— £ s d Hlflrhest price, February 3 A 17 0 11) 30 Lowest price, January 3 .. 610 5 February 31.. .. ..0 30 0 February 32 0 10 0 February 11 0 10 0 ' February 35 0 10 0 February 10 .. .. .. o l o 0 February 17 G 10 10

BIG SALE OF GOLD CONDITIONS IN AMERICA LONDON, Feb. 17 The biggest sale of gold since June was recorded to-day. It amounted to more than £1,000,000. The sale was due to the likelihood of a further fall in the dollar. Commodity prices also are beginning to harden in anticipation of further action by President Roosevelt.

The Stock Exchange, however, is dull owing to the European complications.

PRICES OF METALS LONDON MARKET FIRMER LONDON, Fob. 17 Following aro to-day's quotations on the London metal, market, compared with those of February 10: — Feb. 17 Feb. 30 Per Ton Per Ton h (1 C s (I Copper, stan., spot ,30 18 n 3d 4 <i>/ 3 Copper, stan., 3 mos. 40 3 V/ 2 30 0 ,\/ a Copper, electrolytic 43 30 0 43 30 0 (0 to 41 10 0 43 17 0 Copper, elect., wiro bars ... .. 41 30 0 43 37 fl Lead, soft, spot .. 35 30 0 35 1 3 Lead, soft, forwnrd 3 5 10 OVa 35 3 1% Spelter, spot .. 34 4 4'A 13 10 10'/, Spelter, forward .. 14 8 ly 3 14 0 7% Tin, stan.. spot .. 384 17 0 18V 7 0 Sin, stan., 3 mos. .3 81 7 0 184 2 0

NEW PUBLIC COMPANY Tito following public company hns been registered in Auckland:— Phormlum Cellulose, Limited, to carry on the planting. cultivating and milling of New Zealand flax (phormium tenax), or other varieties of fibre producing plants, and the preparation of fibre, and its manufacture into rope, twine, matting, netting, etc., avid the production of bleached and unbleached pulp, and its products. Capital, £30,000, in £3 shares. Subscribers: E. Skilton, 500 shares; P. H. Ayson and C. Fraser, 325 each; G. Howick, M. J. Connor and W. W. Dick, 100 each; A. G. Ivearns, 00.