AUSTRALIAN EXCHANGES

New Zealand Herald, Volume LXXV, Issue 23123, 23 August 1938, Page 5

AUSTRALIAN EXCHANGES

MINOR Pi} ICE MOVEMENTS FIRMER TREND IN METALS (Received August 22, 7.55 p.m.) SYDNEY, August 22 Uiere were few changes in the investment section of the Sydney Stock Exchange to-day, prices being fairly steady on a restricted turnover. A firmer trend in base metal shares was evident. Sales included:—t , £ s d Hank Austlasia (N.Z. deli v.) 10 15 o Commercial Bank Australia. 010 7'/ a Bank of New South Wales . 31 7 (i Goldshrotigh-Morl .. .. 18 0 Australian (las (A) . .. 7-10 Huddart-l'arker .. .. 2 8 3 Bit to .. .. 2 8 (> Toohey's Brewery .. ..' 1 12 0 Tooth's Brewery .. .. 215 3 Anthony Hordern . . .. o Ut 10V 3 Amalgamated Wireless (con.) 215 0 British Tobacco .. .. 2 0 0 Broken Hill L'ty. .. .. 2 lit 3 Burns, Pliilp ~ .. 211 0 Cash Orders (ex div.) .. 0 10 ,1% Dunlop-Perdriau . . .. 110 Electrolytic Zinc . . . . 2 3 0 Ditto (pref.) .. .. 2 0!) Farmers .. .. .. 1 ]•_> 0 General Industries .. .. O 18 11 Henry Jones .. .. 210 0 James Stcdman .. 0 .13 3 Kamlos Cement . . .. 1 0 3 Masonite Corporation .. 010 10'/, Milhuiuin Sugar .. .. I 18 (» Morts Dock .. .. 0 12 0 Sargcnts .. .. 18 0 Standard Cement . . . . 12 3 United Provisions . . . . 0 8 0 \V. It. Carpenter . . . . 2 4 3 . Woolworths (Syd.) .. .. 1 1 O Ditto (2nd pref.) . . .. 18 0 Broken Hill South .. .. 1 11 0 Mount I,yell . . . . ISO Mount Morgan (X.Z. dcliv.) 010 11 North Broken Hill . . , , 2 5 0 Zinc Corporation . . -1 10 o Commonwealth Bonds.—l per cent. 1038. ClOl Ss !»d; I lit 7, Ilia 15s; 105.3. ,1103 ss; 1001, flo 4 17s Od. MELBOURNE EXCHANGE On the .Melbourne market, bonds were a little easier, industrials were very quiet, with only minor price movements. Harriers held their recent improvement. Business included: £ s (1 Commercial Bank Australia . O 10 7 Nat. Bank A'usia (1:5 pd.) 012 0 Ditto (£lo paid) . .. 13 13 o Goldsbroiigh-Mort . . . . '.ISO Yarra Falls .. .. 1 is <i Howard Smith .. .. 10 4 Australian Class .. .. 4 13 O Aust. Iron rfhd Steel (pref.) I 7 0 Broken Hill Pty. .. .. 210 3 Dunlop-Perdriau .. .. 110 G. J. Coles .. .. .. 3 1!) (i Melbourne Invest. Trust . . O 10 -1 Broken Hill South .. .. 11l G Emperor .. .. .. 0 12 10 Mount Lyell .. . . 18 3 North Broken Hill .. .. 2 5 0

VERY DULL WEEK LONDON STOCK EXCHANGE COMMODITIES IRREGULAR LONDON, August 21 A very dull week was recorded on the London Stock Exchange. Commodity prices remained irregular pending a decisive lead from America. Rubber remains one of the steadiest. Bradford is exceptionally quiet, even taking holidays into account, and the events in Germany. Bradford regards the impending signature of the AngloAmerican agreement with lively satisfaction. The fruit season is now drawing to a close and the market is steady for all red varieties.

FOREIGN EXCHANGES NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates yesterday, on a New Zealand currency basis, subject to alteration -without notice:— Selling: United States Canada T.T 3.91% 3.92% On demand . . 3.01% 8 3.93 l /i« Buying: On demand . . 3.95% 8 3.9G"/i e 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 Dfemand Currency Selling Buying Selling U.S.A., dol. .. 3.9121 3.9514 3.9101 Canada, dol. .. 3.0280 3.9092 3.9320 Belgium, belga 23.100 23.515 23.171 Czecho'vakia, cr. 112.50 Denmark, kr. . 17.893 15.2G3 17.899 Finland, Fin. ins. 179.57 185.77 179.07 France, fr. .. 142.63 Germany, r.m. . 9.700 Greece, drachmas 429.51 Holland, fl. .. 7.121 7.311 7.125 Italy, lire .. 74.3-1 - 74.39 Java, fl. . . 7.101 7.291 7.105 Norway, kr. .. 15.892 10.242 15.898 Sweden, kr. .. 15.490 15.845 15.490 Switzerland, fr. 17.010 17.385 17.015 Noumea, fr. .. 140.5S Papeete, fr. .. 141.03 N.Z. pence to — Hongkong, dol. 38 25-32 18% 18 25-32 India, rup>'o . . 22% 22 1-10 22% Ceylon, rupee 22% 221-10 22% Japan, yen . 17 9-16 _ — 17 9-10 Shanghai, dol. Nominal Singapore, dol. 34 31-32 34 25-64 34 31-32 Chefoo, dol. .. Nominal Manila, peso . 30 47-64 29 53-04 30 47-64 The cost in New Zealand currency of the pound sterling, and of the. principal overseas units, on the latest quotations, is as follows: — Present Prico Par sd b d London, pound . . 21 10.05 20 0.00 Australia, pound .. 19 11.40 20 0.00 Fiji, pound . . .. 22 5.00 20 0.00 New York, dollar .. 5 1.17 4 1.31 Montreal, dollar .. 5 0.97 4 1.31 Paris, franc, . .. 0 1.07 0 1.31 Berlin, reichsmark .. 2 0.52 0 11.74 Copenhagen, krono . . 1 1.32 1 1.22 Yokohama, yen . . 1 5.41 2 0.5S CUSTOMS EXCHANGE RATES Finally declared rates of . exchange ruling at the dato of departure of vessels named aro shown in the following table: City of PiUsburg, Canada, dollars .. 4.04 City of Pittsburg, America, dollars .. 4.93 City of Winchester, America, dollars .. 4.89 City of Winchester, Canada, dollars .. 4.93 Dessau, America, dollars .. .. 4.80

MORTS DOCK, LIMITED CONTRACTS EXCEED £200,000 WARNING BY CHAIRMAN "With the reduced market values now attaching to primary products, it would bo prudent to recognise tlio altered conditions, and not to press for increased costs or additions to the standard of living," said Sir Kelso Kind, chairman of directors of Morts Dock and Engineering Company, Limited, at the annual meeting in Sydney last week. Expansion in manufacturing industries and increases in employment* had caused an improvement in the spending power of the community and an increase in public; savings. This evidence of prosperity was duo to satisfactory markets for Australia's exportable products during the previous year, accompanied by a good season. These conditions had not been repeated during 15)38. Contracts in hand exceeded £200,000 and would keep the works busy for the next six months. Although there was still a shortage of skilled labour in many departments, the shortage was not now so acute. - "The last report and balance-sheet was the most favourable that has been presented for many years," Sir Kelso King said, "and is consequent upon the plant and machinery being in active operation throughout the year, and to the docks having had greater age in repair and other work."