UNEVENTFUL WEEK

New Zealand Herald, Volume LXXV, Issue 23068, 20 June 1938, Page 7

UNEVENTFUL WEEK

MARKET IX LONDON INDUSTRIALS IRREGULAR IMPROVEMENT IN COMMODITIES (Received Juno 19, 5.5 p.m\) LONDON, Juno 18 Apart from the defence loan, the City passed an uneventful week. Business was so idle that, it provoked comparison with the stagnation of 1915. Industrials were irregular. However, in happy contrast to the idleness 011 the London Stock Exchange, commodities show signs of reviving interest. Following hard upon the outstanding success of the defenco loan come a batch >of excellent company results. The General Electric Company's profits touched the record of £1,772,000, and its reserves were further strengthened by the allocation of £IOO,OOO from revenue, bringing them to £-1,500,000. Current assets are higher at nearly £8,000,000. The company's works are fully employed, necessitating recent extensions. Overseas business continued to improve considerably, . exceeding any previous year. New Zealand, Australia, the Argentino and India wero especially good customers. Boots Drugs also report a record volume of sales. Calender's Cables show the largest gross profits in the company's history, with a substantial increase in New Zealand, Australian and South African business, and are still obtaining satisfactory orders. The Economist's analysis of tho results of 79 companies' operations announced . during tho week shows an increase of 12 per cent compared with last year. The total profits of 1248 companies analysed since January 1 amount to £202,000.000, compared with £179,000,000 in the previous year. The markets closed cheerfully, but business is still negligible. The feeling in the commodity markets is more cheerful than for some time. FOREIGN EXCHANGES ' FLUCTUATIONS IN LONDON British Wireless RUGBY, June 18 The following rates 011 foreign exchanges are current, compared with the cabled quotations 011 June 17 and par: — June IS June 17 . Par Montreal, dol. .. . o.OIVm 5.01%« 4.800 New York, dol. 4.t)T l /, 9 -l.itTVa 4,50 Puris.fr. .. 178 3 /. 17S 1 /* 1.79.00 Brussels, belga.. 2».2i» l /a 29.20% 35.00 Geneva, fr. .. UJ..O-I'/i 21.05'/a 25.22 Amsterdam, gr. 8.00 . 8.90 12.10 Milan, liro .. 01 7 / ia 91'/,, 02.00 Berlin, r.in. .. 12.30% 12,00% 20.43 Stockholm, kr... 10.39'/, 19.3»'/ a IS. 150 Copenhagen, kr. 22.40 22.40 15.1.i0 Oslo, kr. .. 10.00 10.00 18.150 Vienna, sch. .. 20' at 20%* 34.585 Prague, kr. .. 1427 a 142"/, 8 104.25 Helsingfors, mark 220% 220% 190.23 Madrid, pes. .. 55t 651 25.221 Lisbon, escu. .. llOVi . HOVi HO Athens, dr. .. 547'/ a 517% 375.00 Bucharest, lei... 072% 072% 810.0 Rio de Janeiro, m. 2 1J /i o d*' 2 13 /iad* 5.599 d Buenos Aires, pes. 18.00% .18.00% 11.15 Montevideo, dol. 20d 19VJd SUI Bombay, rupee.. 17"/3 ad 17 3 % a d lSd Shanghai, dol.. . Honcrkoner, dol. 14 I %«d l-l'Vud Yokohama, yen lid lid 21.58 d Batavia, gr. .. $.04% 8.91% 12.10 Belgrade, din... 218 218 270.:!1 Warsaw, zloty. . V<>..'37 2ii.;i7 40.38 tNoniinal. 'Sellers. NEW ZEALAND QUOTATIONS | The Associated Banks (other than the I Bank of Now South Wales) quoted the following dollar rates on Saturday, on a New Zealand currency basis, subject to alteration without notice: — Selling: United States Canada • T.T. .. .. 3.08% 4.02J/,. On demand .. 3.95/ a 4.02% Buying: On demand .. 4.02 13 /i a 4.0G% 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: — To £1 N.Z. ' T.T. , On Demand Currency Selling Buying Selling U.S.A., dol. . . 3.084 1 4.0200 0.9584 Canada, dol. . 4.0240 4.0001 4.028(1 Belgium, belga 23.101, 23.780 23.112 Czeciio'vakia, cr. 113.77 - 113.8'2 Denmark, kr. . 17.893 18.203 17.800 Finland, Fin. ms.. 170.00 155.50 170.70 Franco, fr. .. 141.54 Germany, r.m. 0.810 Greece, drachmas 420.51 Holland, fl. .. 7.151 7.341 7.155 Italy, liro .. 75.71 Java, fl. .. 7.120 7.150 7.133 Norway, kr. .. 15.802 10.242 15.808 Noumea, fr. .. 110.20 Papeete, fr. .. 140.24 Sweden, kr. .. 15,181) 15.814 15.405 Switzerland, fr. 17.300 17.081 17.311 N.Z. pence to — Chcfoo, dol. .. Nominal Hongkong, dol. 18 s / 18 11-32 18% India, rupee .. 22 7-32 2120-32 22 7-32 Ceylon, rupee . 22 7-32 2120-32 22 7-32 Jnpan, yen .. 17 0-10 Manila, peso . 30 13-01 20 30-01 30 13-01 Shanghai, dol. ' Nominal Singapore, dol. 34 25-32 34 13-04 34 25-32 The cost in New Zealand currency of tho pound sterling, and of the principal overseas units, 011 the latest quotations, is as follows: Present Price Par 8 d s d London, pound ... 21 10.05 20 0.00 Australia, pound .. 10 10.81 20 0.00 Fiji, pound . . 22 5.00 20 0.0(> New, York, dollar .. 5 005 4 1.31 Montreal, dollar .. 4 11.40 4 1.31 Paris, franc . .. 0 1.07 0 1.34 Berlin, roichsmark . 2 0.24 0 11.74 Copenhagen, krone . 1 1.32 1 1.22 Yokohama, yen .. .1 5.41 2 0.58 CUSTOMS EXCHANGE RATES Finally declared rates of exchange ruling at the date of departure of vessels named are shown in the following table: —• Port Halifax, Canada, dollars .. 5.00 Port Halifax, America, dollars .. 4.08 Trchata, Canada, dollars .. . . 5.01 Trehata, America, dollars .. .. 4.05 NEW COMPANIES REGISTRATIONS IN SOUTH The regis!ral ion of the following new companies in the South is published In the Mercantile Gazette:— PUBLIC COMPANY Paratcx (1038). Limited (Wellington).— Capital: £3OOO, in 1800 fully-paid shares of £ 1 each and I'JOO contributing shares of £• l each. Subscribers: Wellington—G. T. May, C. H. Watson, G. W. Lawrence, Investment Holdings, Limited, J. R. Cunninghame, D. Gibson,'J. K. Williams, ono sharo each. Objects: To acquire lands, buildings and incidental. PRIVATE COMPANIES Ideal Locks, Limited (Wellington).—Capital: in 500, in 1000 fully-paid shares of £1 each and 500 contributing shares of X'l each. Subscribers: Wellington—S. G. Hall, 375 fully paid; G. S. IJodgkinson, 350 fully paid; N. 8. Shivnan, 100: W. F. Bedell, 100; C. V. Shivnan. 50; T;. A. R. Upton, 275 fullv paid'; H. J. Thorpe, 100; O. S. Hodgkinson. 100; W. R. Webster, 50. Objects: To acquire interests in any patents, etc., relating to nil invention in relation to locks or locking processes. Ritrg 4ind Son, Paraparaumu, Limited (Wellington). Capital: £2OOO, in 2000 shares of £1 each. Subscribers: Parapnra--11,11, S. Ricrc. 1000; J. P. M. Bertram, 1. Objects: Builders, contractors and incidental. INCREASES OF CAPITAL Radio Features, Limited (Wellington).— Cnnital increased from £OOOO to £IO,OOO by the creation of 4000 additional shares of iJ Chabi Testing Stations (N.Z.), Limited (Christchiirch).— -Capital increased from £11,830 to £22.000. BRITISH WAR LOAN British Wireless RUGBY, June 17 War loan k 3£ per cent, is quoted at £lOl 15s, same as yesterday.