AUSTRALIAN EXCHANGES

New Zealand Herald, Volume LXXV, Issue 23033, 10 May 1938, Page 7

AUSTRALIAN EXCHANGES

LEADERS IMPROVE BASE METAL ISSUES QUIET (Received May o, 5.30 p.m.) SYDNEY, May i)

Several leading industrials Rained strength on the Stock Exchange today. Tooths' shares wore at their best point of the year. There was also a good demand for shipping shares. Base metal issues, however, were quiet. Busi-

Commonwealth Bonds.—l per cent 1041 fm-_» 17s fid; lOf". CIOJ 17s (Id; 11)50, £lO3 10s; 1057, £ 10.1 Rs (Id. MELBOURNE EXCHANGE 'I lie Melbourne market was generally steady but quiet. Business included:

FOREIGN EXCHANGES NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South Wales) quoted tlie Following dollar rates yesterday, on a New Zealand currency basis, subject to alteration without notice:— Selling: Canada I T • .. 4.01"/.. On demand .. .'{.ilii 3 /; 4.U2 1 /,, Buyinsr: On demand .. 4.03 u /, a 4.00 1 /,, 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:—

Ilonarkongr, dol. 18 43-01 IS 17-01 is 43-01 India, rupee . 22 25-04 22 5-04 22 2504 Ce.vion. rupee 22 25-G4 22 3-lM 22 25-<>t Japan, ven .. 17 33-04 Manila, peso 30 3-01 2!) 20-04 30 3-04 Shanghai, dol. Nominal Singapore, dol 34 25-32 34 13-04 34 25-32 The cost in New Zealand currency of the pound sterling, and of the principal overseas units, on the latest quotations, is as follows:

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 Mobile, Canada, dollars .. 4.99 City of Mobile, America, dollars .. 4.99 Clydebank, America, dollars .. .. 4.99 Clydebank, Canada, dollars .. .. 4.99 Port Montreal, America, dollars .. 4.97 Port Montreal. Canada, dollars .. 5.02 BRITISH HEAVY INDUSTRY COAL AND STEEL PROGRESS Indications of the high level of activity reached last year in the heavy industries in Great Britain were provided by the remarks of representatives of the steel trade and coalmining industry at recent meetings in London. Presiding at the meeting of Thos. Firth and John Brown, Limited, Lord Aberconway reported an increase in steel production of over 19 per cent, compared with 1936. Of special interest in view of current speculation regarding the present and potential contribution of rearmament tovrard industrial activity was his statement that sales to the Government had last year accounted for 16J per cent of the company's total sales. Orders now on hand were larger, he said, than at the corresponding date 12 months ago. Progress, although at a rather less rapid rate, was also reported by Mr. Robert Angus, chairman of Bands and Dalmellington, Limited, the Scottish colliery owners. The company's sales increased by 6.5 per cent last year, a rate of advance greater than that in the output of coal for Scotland as a whole. In the case of the year 10*>7, ho said, the increase over the previous year in output for Great Britain as a whole was 14.340,300 tons, or G. 16 per cent, as against an increase in Scotland of 321,600 tons, or 1 per cent.; the figures for England and Wales showing an increase of 14,018,700 tons, or 6 99 per cent.

CALL AND DIVIDEND LIST Dividends— Duo Sharland and Co. —int., 2Va P-c. To-day E.S.A. Bank—int., 3 l / a p.c., sterling,. less British income tax May If! Nemona—Xo. 11, 2d a share May 10 Dental and Medical—s p.c. p.a. . May 10 National Instir.—int., 4d a share May 17 Byrroft. Ltd.—final. 4 p.c. . . May 17 Donaghy's Hope—final, Is a share May 19 N\Z. Paper Mills—final, 1 p.c. . May 19 Dnlgety—int., 3s a share, sterling, less British income tax May 20 Tui Brewery—old, half-year, 5 p.c.; new, months, 5 p.c. May 21 P. and O. Def. Stk.—int., 2l>.c. May 21 Bank N.S.W.—quarterly, us a share May '2O Loloma Gold—first. Is a share , . May 27 Westport Coal—int., Od a sliaro May 27 Union Steam—pref., int., 2% p.c. May 31 Farmers' Trailing—pref.. final A and B. 5 3-5 p.c. p.a.; C, 5 p.c. p.a May 31 Henry .Tones—int., Od a share . . Juno 1 I3roken Hill Pty.—int., Is 3d a share; con., 2'/ : d a share . . Juno 1 Tariiigamiitu Timber—int.. 2% p.c. June 1 Hank N.Z.—finak Is a share .. June II Broken T1 ill SoiiTli—9d a share June 15 Mt. Lyell—int., Od a share . . Juno 20 Calls — Golden Crown —7th, 3d a share To-day Burns, Philp—new, 5s a share . pet. 1

ncss included:— JC s d Bank New South Wales .. 10 0 Ditto 3„> l'i (! Commercial; Banking, Sydney 'J I t 0 ! Quoensfiind National Bank .. 5 3 0 Union Bn.nk ft 0 0 Goldsbrouffh-Mort 1. 10 t) Wilcox Mofflin 0 8 8 Traders' Finance I 0 10 1 /, Tooths Breneries o 17 (1 Ditto 2 1S 0 Aust. Iron and Steel (pref.) 1 7 f) Australian Glass ■1 15 0 Berlei I 0 Burns, Philp 2 13 0 Burns. Pliilp (South Sea)' (N.Z. del.) 1 7 0 Colonial Sugar •lit 17 3 Ditto r><> 0 0 DunlopPerdriau I •j C, David Jones o 7 ■13 0 Frit and Textiles T 3 Farmers i l'_» 0 General Industries o 10 •lYa G. J. Coles A I (i Henry Jones o 0 ft Kandos Cement I 5 3 Mauri Bros. 3 s 0 Sledmans .. .. n l 15 (i Standard Cement 0 0 Mount Morgan 0 ft 0 1 y. Mount JfA'ell .. . l Brok?n Hill South l 10 my 3 Pawang v . n s 10 Tonkah Harbour 0 10 7% 0 Taranaki Oik .. .' 0 8

Commercial Bank Australia . ■C S (1 0 1fi 7 . Bank A'asia Id 0 0 Nat. Bank A'asia (£ii) TO (1 Ausf. Foundation Trust (I I 5 Australian Paper Mfrs. (prof.) 1 5 0 Aust, Iron anil Steel (pref.) 1 7 1) Broken Hill Pty. :? 1 () Ditto (con.) 1 17 (i Cox Bros 0 If) 0 Dunlop-Perdriau l o ft G. J. C.iles . . i 1 0 Herald-Weekly Times o in Mount Lyell 1 7 o Loloma 1 4V,

To £1 X.Z. T.T. On Demand Currency Selling Buying Selling U.S.A., dot. . . 3.0030 •1.(1370 3.9070 Canada, do!. . . 'J .0170 4.0fiin 4.0210 Belgium, lielpra 23.007 21.082 23.70S Czeclio'vakia. cr. 1 1 1.37 -—. 1 11.12 Denmark, kr. . 17.803 1 8.203 17:899 Finland, Fin. ms. 1 7!). 1 7 1 .N.V37 170.27 France, fr. I 11.00 — M 1.01 Germany, r.m. . ll.SSfi — 0.801 Greece, drachmas 1 •_'!», .">1 — 420.84 Holland, fl. .. 7.1 .*),") 7.315 7.1 of) Italy, lire 7r>.!)r, — 70.00 Java. fl. 7.137 7.107 7.141 Norway, kr. .. l.->.8»2 10.212 15.898 Noumea, fr. .. 330.7 130.70 Papeete, fr. .. i3».8o — 130.81 Sweden, kr. .. lo.402 15.84 7 15.498 Switzerland, fr. 17.101 17.770 1 7.10(1 N.Z. pence to— Chrfoo. dol. . . Nominal

ticac S d London, pound . . 24 10.fi. Australia, pound .. 19 1(1.8 FiJ i, pound . .. 22 5.fi( Xe w York, dollar .. 4 11.81 Mo ntreal, dollar .. 4 11.5" Pa ris, franc . .. 0 1.0 Be rlin, reichsmark . 2 0.0 Co )enhajrcn, krone 1 1.3' Yo cohama. veil . . 1 5.4