AUSTRALIAN EXCHANGES
BASE METALS FIRMER STEAOY. SHARE PRICES (Received October 14, 8.20 p.m.) i SYDNEY. Oct. 11 Tho investment market was lethargic on the Sydney Stock Exchange to-day, prices remaining steady. Base metal values were much firmer, owing to the firmer trend overseas. Sales included: — £ s d Commercial Bank Australia (I 17 0 Commercial Banking Sydney 'JO 5 0 Uuion Bank . .. .. 8 10 0 Hudtlart-Parker .. .. 2 7 0 Australian Gas (A) old .. 7 5 0 Ditto (new) .. .. 7 11 0 Tooheys Brewery .. .. 110 0 Tooths .. .. .. 2 110 Ditto 2 14 0 Anthony Hordern .. .. 010 0 Australian Glhss .. .. 413 0 Australasian Paper .. .. 1 10 3 British Tobacco .. 2 8 0 Broken Hill Proprietary .. 2 18 3 Ditto 2 18 O Dunlop-Perdriau .. .. 10 0 Ditto (prof.) .. .. 1 17 0 Electrolytic, Zinc .. .. 2 4 0 Ditto (pref.) .. .. 2 7 3 Kandos Cement .. .. 10 1 Mark Foy .. .. 10 0 Morris Hedstrom .. .. 15 0 Morts Dock . . . .. 012 1 Newbold Brick .. ~ 1 11 0 Paul and Gray . . . . 113 Stedmans . . . . 0 13 0 Taranaki Oil (N.Z. del.) .. 0 11 4 Victoria Nyanza .. .. 0 15 6 W. Adams .. .. 0 14 5 Kuala Kampar .. 0 18 0 Mount Lyell .. 110 0 Mt. Morgan (N.Z. delivery) 011 3 Ttiwang Tin . .. .. 0 8 11 Zinc. Corporation . . 5 10 Commonwealth per cent, 1938, £lOl 8s Od; 1041. £lO2 7s 6d; 1057, £lO3 78 fld. MELBOURNE EXCHANGE Good Ibuying for nil Commonwealth loan issues was evident on*the Melbourne market. There was a further marking up of leading investments, and Barrier stocks. Little change took place in gold shares. Mount Morgans were well supported, but oil prospecting shares were dull. Business included: — £ s d Union Bank 8 10 0 Goldsbrough-Mort 1 0 O, Howard Smith .. O 111 (f Carlton Brewery .. 3 (J 0 Broken Hill Proprietary .. 2 18 0 Dunlop-Perdriau .. .. 10 0 Henry Jones 2 4 fl Hume Pipe (Aust.) .. 0 10 3 Imperial Chemicals (pref.) .. 12 0 Broken Hill South .. .. 1 13 0 Emperor .. .. .. O 13 3 Loloma .. .. .. 14 0 Mount Lyell . .. .. 1 10 O Mount Morgan .. .. 0 113 North Broken Hill .. .. 210 6 Wellington AUuvials .. 0 5 0 WEAKNESS OF STERLING SELLING WAVE DEVELOPS DOLLAR AT 4.73| TO POUND (Received October 14, 5.5 p.m.) NEW YORK, Oct. 13 Heavy selling, which is considered to be largely speculative, forced down sterling to 4.73J dollars. Most European exchanges were similarly affected, but German freo marks rose li points. The decline in sterling is due to a feeling that England is in the early stages of a business decline. PLIGHT OF FUNDS FACTOR IN SITUATION A flight of funds from Europe all this year has helped the dollar to appreciate. In the middle of I ebruary last the pound sterling bought 5.03 i dollars, the highest point since the tripartite currency pact of September, 1936. An irftgular decline in the pound and a consequent appreciation of the dollar occurred from February to June, after which there was a sharp fall. From 4.87 dollars on August 30, the market dropped to 4.74, finally to touch & nominal quotation of 4.60 on September 28. With the passing of the crisis in Europe there was a sharp recovery to 4.83 on October 1. Since then, however, weakness recurred. The present autumn in the Northern Hemisphere i? recognised as a normal period of weakness in sterling, owing to the extra demand for dollars for payment for shipments of cotton to England. Meantime, importers, faced with additional costs for their purchases, are watching the position closely. UNOFFICIAL LIST CLOSING QUOTATIONS Quotations on the unofficial list of tho Auckland Stock Exchange are:— Buyers Sellers £sd £ 8 d Australian Motorists" Petrol . . 0 lo 0 Ak. Farm. Freezing (£1 paid) 10 3 Auck. Trot. Club, 1/4/30-44 . . 98 0 0 Aus. Prov. Assce. 0 8 6 0 0 6 British Neon 0 4 0 • British Standard Cement ... 0 1 6 0 4 6 Brunner Collieries (ord.) 0 5 0 Caro's Stores (pf.) n iq 2 Electric Products Fiji Kauri - • Industrial Chemi. cals (N.Z.) .. 0 19 0 N.Z. Perp.. Forests (4s paid) .. n 5 « N.Z. Wool pack .. 0 3 6 Nelson Tobacdo (pf.) J l « Nikau Bacon .. 10 0 1 7 0 Ditto (pref ) .. 1 « « Pacific Forests .. 0 10 O Photomatic . . 0 6 0 Renown Collieries, 1 /HIM, 6 Selfridges (N.Z.).. 0 6 0 South. Cross. Assur. 0 2 0 Southern Cross Invest. 0 4 0 South Westland Estates" 0 15 0 Waikato Carbonisation. 1/1/11 02 0 0 Wellington Publishing Whakatane Taper Mills ford.).. 0 3 0 0 4 0 Wilton Collieries (1!)31) 0 15 0 Ditto (deb.) 90 0 0 Winstone 0 10 0 Woolworths Properties 0 14 2 Woolworths (West Aust.) Coromandcl Gold 0 13 Sylvia . . • • 0 8 0 CALL AND DIVIDEND LIST Dividends— ' Due Woolworths (Syd.)—int., 6 p.c. . To-day Woolworths (N.Z.)—pref., halfyearly, 4'/j p.c. . . . . To-day C L. Innes —pref. and ord., 8 p.c. P.a, ■ . To-day Burns. Philp (South Sea) —int., 7d a share To-day Amalgamated Wireless (A'asia) — final, 5 p.c.: bonus, 2 p.c. .. To-day Worksop Extended—lop.c. . Oct. 17 Guar Corpn.—final, 2d a share Oct. 20 South British—final, BV 3 d a share Oct. 27 United Provisions—ord., 3 p.c. p.a.j pref., final, 4 p.c. .. Oct. 28 Drug Houses of Aust., Ltd.— final. 3% p.c. .... Oct. 31 British Tobacco—pref., quarterly, fl 1 /, p.c. p.a • • Oct. 31 Martha—int., 9d a share, tax „ free, sterling . .. .. Nov l Australian Iron and Steel—pref., half-yearly, £5 16s 8d p.c. . Nov. J Macky, Logan—int., SPA p.c. .. Nov t Bank of Adelaide —int.. 5 p.c. p.a Nov. 2 Emneror Mines —Is » share Nov 10 Broken Hill Pty.—half-yearly. Is 3d a share- new, 5d a share Nov. 23 Nat. Bank A'usla—int.. 6 p.c. p.a. Nov. 30 Call*— Woolworths Props.—los a share Oct. 31 Broken Hill Pty.—new, 5s a share . .. .. .. Nov. 30 WHEAT, FLOUR AND SUGAR LONDON, Oct. 13 Wheat. —Cargoes are barely steady and parcels aro quiet. Futures.—London: October, 23s 9Jd a quarter; November, 23s OJd. Liverpool.— October, . r « 12d a cental; December, 4s 9id; March, 4s 7Jd; May, Is 7Jd. Spot trade quiet. Australian ex ship, 21s to 21s 3d. Flour quiet. Australian ex store, 23s 6d to 245. Haw sugar, beetroot
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New Zealand Herald, Volume LXXV, Issue 23169, 15 October 1938, Page 9
Word Count
1,010AUSTRALIAN EXCHANGES New Zealand Herald, Volume LXXV, Issue 23169, 15 October 1938, Page 9
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