ALMOST A PANIC

New Zealand Herald, Volume LXXV, Issue 22986, 14 March 1938, Page 7

ALMOST A PANIC

EUROPEAN BOURSES LONDON FEELS EFFECTS NERVOUSNESS OVER AUSTRIA (Received March 13, 5.5 p.m.) LONDON, March 12 Nervousness which almost amounted to panic swept down prices on many European bourses and London, although to some extent insulated from Continental fevers, did not escape repercussions. There was a rush on the part of professionals to close conunitrtients. The week-end may afford time for nerves to recover. A comforting pointer was the steady opening of the Amsterdam Bourse this morning. The markets, however, are likely to be at the mercy of European politics for some time. The actual course of the markets all tho week has been notable for the insignificant amount of business transacted. The number of bargains marked on Thursday—the day before the Austrian crisis—dropped to 5415, or less than half last year's. Violent fluctuations marked the course of iron and steel shares after the announcement of the results of some of tho leading companies. Vickers' shares fell 3s to 19s 9d, owing to disappointment that the company had not increased its dividend. Cammed Laird and other rearmament shares were also weak. There seems to be no doubt that these and similar firms are assured of excellent profits, but are forced to protect themselves against public criticism by declaring conservative dividends. Other sections of the market are quite uninteresting, the trend being generally downward. The bleakness of the Budget outlook is a restraining influence. Metals and rubber are- discouraging owing to poor American consumption. FOREIGN EXCHANGES STERLING RATES WEAKER (Received March 13, 0.30 p.m.) British Wireless RUGBY, March 12 The following rates on foreign exchanges are current, compared with the cabled quotations on March 11 and j par:—

NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates on Saturday, on a New Zealand currency basis, subject to alteration without notice:—• Sellini?: United States Canada T.T. .. .. 'l.Ol Va 4.01 V,, On demand .. 4.()l"/u d.Ol'Vie Buyine:: On demand .. 4>oo Following are the latest rates for purchases and sales of foreign exchange quoted by the Bank of New South Wales, Auckland. They are subject to alteration without notice: —

CUSTOMS EXCHANGE RATES Finally declared rates of exchange ruling, at the date of departure of vessels named are shown-in the following table: — City of Canberra, America, dollars . . 5.02 City of Canberra. Canada, dollars .. 5.02 City ot Wellington, Canada, dollars .. u.oI City of Wellington. America, dollars .. 5.02 Melbourne Mnru, Japan, yen .. .. lid

CALL AND DIVIDEND LIST

Dividends — .Due W. R. Carpenter—int.. 10 p.c. p.a. . . . . . . . To-morrow M.K. .Manufacturers —final. 8 p.c. To-morrow Electrolytic Zinc —ord. and pref. int., 0 p.c. .. .. .. Mar. 17 Broken Hill South —int., yd a share . .. .. .. Mar. 18 Huddart-Parker —final, pref., 3 p.c.; ord, (i p.c. .. .. Mar. It) Clayton Arnold —int., ord and pref., (• [ic. p.a. .. .. Mar. '2O (toward Smith —int., 3 p.c. .. Mar. 24 Dunlop-Perdriau—int., pref., 5 p.c.; ord., 3 l / a I'.c. .. .. Mar. 31 Pelt' and Textiles—int., 10 p.c. p.a. . . .. .. Mar. 31 British Tobacco —ord.. auartcrly, •J p.c. . . . .. .. Mar. 31 Bonds Hosiery Mills—op.c. .. Mar. 31 Hume Pipe—int., 3 p.c. . .. Mar. 31 General Industries —final, pref., p.c.; ord.. ~Vi p.c. .. Mar 31 Barnett Glass —int.. pref., 4 p.c.; ord., 3Vj p.c. .. .. Mar. 31 Bank A'nsia—final, 4s (id a share sterling, less British income tax .. .. Apl. I United Bldg. (Chch.)—int., 2 l / a pc. .. .. .. ADI. I Xestle and Anglo-Swiss Milk—int., pref., 8 p.c. . . . . Apl. 1 Milne and Choyce—int., prer., 0 p.c. p.a.; B pref.. 7 p.c. p.a.; ord. and deb. 5 p.c. p.a. .. Apl. 0 N.Z. Drug—final, 4% p.c.; bonus 5s a sharo .. .. .. Apl. 12 Yarra Falls—int, old. Is; new. 3d a share Apl. 14 Woolworths (Syd.)—final, 0 p.c. Apl. 15 United Provisions—int., pref., 8 p.c. p.a. .. .. Apl. 30

Calls— Gre.v River—final. Is 3d a share Mar. 25 Broken Hill Pty.—new, 5s a share Mar. 81 Hurns-Philp—new, 6s a sharo 'makinfr 10« naid) Apl. 1 Austral (X.Z.) Mining—fifth of 2s (»d a share (making 17s Od paid) Apl. 8 WHEAT AT LIVERPOOL (Received March 13, 5.5 p.m.) LOXDOX, March 12 Wheat.—Liverpool futures: March, 7s 3 5-lGd a cental; May, 7s 2|d; July, 7s Oj|d.

Mar. 12 Mar. 11 Par Montreal, do!... 4.1my. 5.(10% 4.800 No,w York, dol. 4.00 fl.m y, 8 4.80 Pwris, fr. ISO 158% 105.00 Brussels, belga.. 20.03 VJ 20.01% 35.00 Geneva, fr. 'J 1.57 21.00% 25.22 Amsterdam, gr. 8.00% 8.05 3 ,i 12.10 Milan, lire »4H'« »•'>% iil.no Berlin, r.m. 12.10% 12.4 1 /< dS.ui Stockholm, kr... lit .4 2 11 (.4 2 18.159 Copenhagen, kr. 22.IO 22.10 1 W.I 50 Oslo, kr. 10.00 10.00 18.150 Vienna, sch. 2(1% 20% 31.585 Prague, kr. 112 1 12% 104.25 Helsingfors, mark 220 % 220*» 103.23 Madfid, pes. . . 55 1 25.221 Lisbon, escu. .. 11 o 3 /.« 1 10%, 1 10 Athens, dr. M7'/i 547! a 375.00 Bucharest, lei... 077% 077% 813.0 Rio de Janeiro, m. 2 13 %d* 2"/„d* 5.800d Montevideo, dol. 21'/id : 21 'Cdt 5 Id Bombay, rupee.. 18'/.d :i 8%d 18d Shanghai, dol... 14V,«d If/i.d — Hongkong, dol. 15d l ;»d — Yokohama, yen 13 03-01d ltd 21.58d Batavia, gr. S.H-r/j 8.(1-1% 12.10 Belgrade, din.. . Warsaw, zloty. . 210 2 Its 270.31 20.43 20.43 •13.38 {Nominal. Market rate. 'Sellers.

To £ 1 N.Z. T.T. On Demand Currency rolling Buying Selling U.S.A.. dot. .. 4.0112 ■ 1.(1581) 4.0182 Canada, ilol. .. •1.01.™ •1.0(101 4.0100 Austria, sell. . . 2 1 .02 — 21.03 Belgium, belga •Si.71)-, 21.000 23.710 Czecho'vakia, cr. 113.77 — 1 l;t,82 Denmark, kr. . 1 7.803 18.203 17.800 Finland. Fin. ills. 170.13 J 85.3.'} 170.23 France, fr. 120.05 — 120.00 Germany, r.in. . 0.001 — 0.000 (1 recce, drachmas 420.51 — 420.84 Holland, 11. 7.15)1 7.340 7.100 Italy, lire 7o.3o — 70.35 Java. fl. 7.1'-'!) 7.310 7.133 Norway, kr. .. 15.802 10.212 15.808 Sweden, kr. . . 15.51(1 15.805 15.510 Switzerland, fr. J 7.205 17.010 17.270 Noumea, fr. .. 124.80 •—• 121.81 Papeete, fr. .. 1'J 1.85 — 124.89 X.Z. pence to — Hongkong, dol. 18 53-01 IS 27-0 1 18 53-01 India, rupee .. 22 21-32 22 1 1-32 22 21-32 Ceylon, rupee . 22 2 i -32 22 1 1 -32 22 21-32 Japan, yen 17 31-01 — 17 31 -01 Shanghai, dol. 18 7 (11 — 18 7-01 Singapore, dol. 35 1 -(>•! 31 7-10 35 1-01 Chefoo, dol. .. 1S'/ B — 18 7-01 Manila, peso . •J!) 27-32 20 27-32 The cost in New Zealand currency of the pound sterling, and of the principal overseas units, on the latest quotations, is as follows:— - Present Price Par N (1 S (1 London, pound .. 21 10.05 20 0.00 Australia, pound .. 11) 10.81 20 0.00 Fiji, pound.. .. 22 5.00 20 0.00 Xew ork, dollar 4 1 1.82 I 1.31 Montreal, dollar 1 1 1.70 1 1.31 Paris, franc . 0 1.01 0 2.28 Berlin, reiclismark . 2 0.00 0 11.71 Copenhagen, krone . 1 1.33 I 1.22 Yokohama, yen 1 6.38 2 0.58