AUSTRALIAN EXCHANGES

New Zealand Herald, Volume LXXV, Issue 23067, 18 June 1938, Page 11

AUSTRALIAN EXCHANGES

INDUSTRIALS WEAKEN DULL CONDITIONS OVERSEAS (Received .Tuno 17. 7.45 p.m.) SYDNEY, June 17 Dull conditions in overseas markets continue to exert a depressing influence ' on the Stock Exchange, resulting in industrial shares further weakening. ' The undertone of the market, however, • is quite healthy. Sales included: — £ s d Commercial Banking Sydney 20 11 0 National Bank A'asia (£5) (i 11 0 1 Australian Gas A .. .. 7-10 0 [ Goldsbrough-Mort . . . . 10 0 Tooths Breweries .. .. 2 13 li Ditto 2 13 3 Tooheys .. .. .. 1113 Associated News. .. .. 10 0 Anthony Hordern ~ .. 010 9 Australian Glass .. .. 4 13 0 [ Ditto 4 13 3 Berlei . . .. .. 1 10 0 i British Tobacco .. .. 2 0 0 Broken Hill Proprietary ... 2 10 3 Colonial Sugar . . 47 7 O ! Ditto .. .. . . 47 5 0 i Dunlop-Perdriau .. .. 0 10 0 ! Ditto . . . . . . 0 10 7 > Electrolytic Zinc .. .. 1 <l4 3 i Ditto (pref.) .. .. 2 0 0 General Industries .. .. 0 17 0 J. Fielding .. .. .. 4 4 0 Sargents .. .. •.. l 0 0 i Stedman .. .. .. 0 14 7 Victoria N.vanza . . . . O 15 O ! United Provisions .. .. 0 0 2 i W. Adams. .. .. .. n 15 3 W. R. Carponter .. .. 22 0 ' Wnnderlich .. .. .. O 10 0 Mount Lyel! . .. .. 1. 2 0 Mount Morgan .. .. 0 ft 0 Loloma .. .. .. 1. 2 1 Taranakl Oil . . . . 0 13 0 Commonwealth Bonds.—4 per cent, 1038, 1 £IOO. 10s; 1041, £lOl 2s fid; 1041, £lOl 16s 3d: 1947, £lO2 ss; 1055, £lO2 15s; 1959, £lO3 12s 0(1. MELBOURNE EXCHANGE Sales on the Melbourne Exchange included the following:— £ a d Commercial Bank Australia 0 10 0 British Tobacco .. .. 2 7 0 « Broken Hill Proprietary .. 217 0 Drug Houses . . .. 15 0 Dunlop-Perdriau .. .. 0 10 0 Electrolytic Zinc ord.) .. ill 0 Ditto fpcef.) .. .. 2 0 3 G. J. Coles .. .. .. 4 10 Mount Lyell . .. .. 13 0 Broken Mill South .. .. 14 3 North Broken Hill .. .. 1 10 3 Emperor .. .. .. 0 12 3 Loloma .. .. .. 12 0 GOLD AND SILVER QUOTATIONS IN LONDON LONDON, Juno 10 Fine gold is quoted to-day at £7 Os lOd an oz., compared with £7 Os 9d yesterday. Silver is quoted at 13 13-16 d an oz. spot, and 18 7-16 d forward, compared with 18gd and 18Jd yesterday. The quotation for silver at per fine oz. is 20 5-16 d, compared with 20jjd yesterday. The following is a summary of the fluctuations in the price per ounce of fine gold this year:— Highest price, May 20-28 and end June 3 and 15 .. .. 7 0 0 Lowest price, January 3 .. 010 5 June 10 .. .. ..707 June 11 7 0 7 June 13 7 0 GV, June 14 7 0S June 15 .. .. ..700 June 10 7 0 10 PRICES OF METALS TIN QUOTATIONS ADVANCE LONDON, June IB Following are to-day's quotations on the London metal market, compared with those of June 15: — June 10 June 15 Per ton Per ton £sd £ s d Copper, stan., spot 33 15 7Va 33 10 4% Copper, stan.. 3 mos. 34 0 () 34 3 l' /u Copper, electrolytic 3s 5 0 38 10 o to to 30 0 0 30 0 () Copper, elect., wire bars .. .. 30 0 0 30 0 0 Lead, .soft, spot .. 13 9 4 l / a 13 0 10% Lead, soft, forward 13-10 7M, 13 0 loVi Spelter, spot .. 12 8 iy a ]•_> (i u ,y , Spelter, forward .. 12 13 IVa 12 10 V/j Tin, stan., spot .. 173 17 (i 7 (j Tin, stan., 3 mos. 174 12 0 172 2 0 BURDEN OF TAXATION EMBARRASSMENT TO COMPANIES The heavy burden of taxation 011 companies and individual shareholders was referred to by tho chairman of directors of New Zealand Perpetual I 1 orcsts, • Limited, Mr. W. Eraser, at the annual meeting yesterday. "in common with all other large business enterprises of to-day, and both as a company and as individual shareholders, we find the exactions of the State a frequent embarrassment, in that, while doing relatively little to facilitate the earning of profits, it requires its share thereof to be paid promptly and in cash," said Mr. Eraser. "This leads sometimes to tho creation of a difficult situation. Such a difficulty has arisen for shareholders of this company resident in New Zealand, who havo recently been called upon to pay an increased rate of income tax in respect of their 1933 incomes, and to pav unemployment tax ou a distribution of acres (bonus units) made during that year. "it is for this reason that the directors recommend a payment of per cent in addition to the usual «1 per cent dividend payable at this time, j This additional bonus will meet the unemployment levy payable in New Zealand in respect of 1933, but will not, of course, contribute anything toward the pavnient of the additional income tax for that year now demanded." The annual report and balance-sheet, published in tho Hekald on Juuo 2, were adopted. BRADFORD MARKET BUSINESS VERY QUIET LONDON, June 10 The Bradford tops market is very quiet and users are adopting a waiting policy. Following are to-day's quotations and those of recent weeks: — May 20 June 2 June 0 June 10 per lb. per lb. per lb per lb. d d (1 d Seienties .. 27'/ a 27 27 20]/, Sixty-fours .. 20 25% '-'5% 25 Sixties .. 25 24% 21% 24 Fifty-eights . . 22 21% 21% 21% Fifty-sixes .. 20 19% 19% 19% Fifties .. 1.7% 17 17 17 Forty-sixes .. *l7 *lO% •).»% *lO% Forties . *l7 *lO% *lO% *lO% •Nominal. NEW PRIVATE COMPANIES The following private companies havo been registered in Auckland:— Certified Concrete, Limited, cement, and brick manufacturers. Capital, £20,000, in £1 shares. Subscribers: Winstone, Limited, 9000 shares; J. W. Ward and G. it. Powles, 5000 each; Mrs. H. G. Winstone, LOO. Westons Motors, Limited, garage proprietors. Capital, £7OOO, in £1 shares. Subscribers: L. H. Weston and S. J." Weston, 3500 shares each. J. A. Halkett, Limited, general drapers and outfitters. Capital, £IBOO, in £1 shares. Subscribers: J. A. Halkett, 1000 shares; Mrs. J. J. M. llalkett, 800. Trigg and Donnelly, Limited, mercers nnd outfitters. Capital, £IOOO, in £1 shares. Subscribers: C. H. Trigg, 500 shares; J. E. Trigg and E. P. Donnelly, 250 each. Johnston Timber Company, Limited, sawmillers and timber merchants. Capital, £3OO, in £L shares. Subscribers: W. G. Johnston, C. W. Boreham and AL. F. Kahn, 100 shares each.