AUSTRALIAN EXCHANGES

New Zealand Herald, Volume LXXVI, Issue 23275, 18 February 1939, Page 9

AUSTRALIAN EXCHANGES

INDUSTRIALS STEADY BUSINESS REMAINS QUIET (Received February 17, 0.45 p.m.) SYDNEY, Feb. 17 Leading industrials were steady to firm on the Stock Exchange to-day when business continued along quiet lines. Broken Hill stocks were neglected. Sales included:—

Commonwealth Bonds.—4 per cent. 1041. .€lOl 17s (5(1; 1044. £lO2 10S; 1050, £lO2 3d I£)S3 - £lO3 2s (3d; 1001. £lO 4 His MELBOURNE EXCHANGE . Sales on the Melbourne Exchange included: — £ 8 d Bank Australasia .. .. 9 0 0 Ooldsbroni?h-Mort .. .. 16 0 Carlton Brewery ~ .. 8 4 « C. J. Coles 3 15 6 Hume Pipe .. .. 010 0 \\oolworfhs (Fiyd.) .. 13 0 Mount Morgan ~ .. 0 110

DIVIDENDS MAINTAINED PAYMENTS IN AUSTRALIA STEADY INTERNAL ACTIVITY Of 69 Australian public companies which have declared dividends on ordinary shares since the beginning of the year, 57 made distributions at unchanged rates, eight at higher rates, and four at lower rates, compared with 1938. Most of the distributions were interim dividends, and in almost every case represented payments from profits for the half-year ended December 31. The 69 companies are a fair sample of the companies listed on the Stock Exchanges in Australia. " These facts are eloquent witness of the stability of our economic life, and suggest that the recession which has taken place elsewhere, though it must have had an influence on Australia, has been to an extent offset by internal industrial activity," states the Sydney Morning Herald in commenting upon the analysis. "The susteiitation of activity may be ascribed largely to the continued investment of oversea capital in Australian enterprise, with consequent constructional work in manufacturing areas and in mining."

PRICES OF METALS

A WEAKER TENDENCY LONDON, Feb. 16 Following are to-day's quotations on the London metal market compared with those of yesterday:—

GOLD AND SILVER QUOTATIONS IN LONDON LONDON. Feb. 16 Fine gold is quoted to-day at £7 8s 4£d au oz., compared with £7 Bs' 4d. Silver is quoted at 20|d an oz., spot, and 19jd » forward, compared with 7-lGcl and 19|d yesterday. The quotation for silver at per fine oz. is 22£ d, compared with 22 l-10d yesterday. The following is a summary of the fluctuations in the price an ounce of fine gold this year:— £ s d Highest price, January 4 .. 710 6 Lowest price, February 0, 10, and 14 7 8 3% February 10 7 8 3% February 11.. .. .. 785 February 13 7 8 4% February 14 .. .. .. 7 8 3% February IB ~ . . ..784 February 16... .. .. 7 8 4% NORTH BROKEN HILL DIVIDEND DECLARED OY TEIFSBAPH —PRESS ASSOCIATION] WELLINGTON, Friday The Stock Exchange Association of Now' Zealand to-day received a message stating that North Broken Hill, Limited, had declared a dividend of sixpence a share, payable in Melbourne on March 28.

Thri rate is unchanged from the quarterly dividend paid on December 8.

THE RICH SYLVIA MINE An Auckland Investor, who has just doubled his holding in Sylvia shares, recalling his interview with Dr. Scheidel, the noted German metallurgist, when operating the Sylvia Mine 46 years ago, writes: —"Me (Dr. Schiedel) explained that the gold had a coating of sulphide and they could not get more than 50 per cent of tho values. I always remember his last words: 'I may not live to see it, but you younger men may. When Science solves tho problem of the treatment of complexores, this is the mine of the future.' M The millions paid in dividends by the Waihi Company could never have eventuated hut for the introduction of tho cyanide process. With the successful introduction of the oil flotation methods Sylvia stands to-day in a better position titan Waihi in 1896. Ore recovery is doubled, gold is twice its old-time value, and indicated ore resources of 160,000 to 200,000 tons await extraction and treatment. These outstanding features, together with the phenomenal richness of its ore, will make the Sylvia the greatest dividend earner in Australasia", not excepting the Loloma, 80 por cent payer. • Those who are foolish enough to say: "It's too good to be true," and disregard the facts as disclosed by investigation of the Sylvia by mining men of world-wide repute, will have no kick coming when they find all available shares have been secured by other wiser investors. New Capital Issue Propectus and full literature from Brokers and Underwriters Association, 315 Dilworth Building.—P.B.A.

Bank Australasia .. £ s d 0 2 0 United Insurance . 10 ij 0 Producers and Genera) 0 4 1 Goldsbrouprh-Mort 1 6 3 Associated News 1 0 0 Ditto (tiref.) 1 3 9 Anthony Hordern 0 14 9 British Tobacco 2 8 3 Ditto t o 8 0 9 f) Broken tlill Pty. .. Burns, Philp (con.) 2 o 15 Cash Orders 0 15 10 VDitto fpref.) 1 5 0 Colonial Suprar . 47 5 0 Dunlop-Perdriau 1 0 s 9 Farmers .1 (J General Industries .. 0 18 9 Morts Dock 0 14 8 Ditto CJf.Z. delivery) 0 14 8 Mark Foy 0 18 0 Millacjuin Sugar 1 18 0 "W. Adams 0 15 9 Woohvorths (Syd.) .. 1 o 10% Wunderlich 1 0 1 Mount Morgan 0 11 0 •Rawanpr Tin 0 7 2 North Broken Hill.. o 4 9 Broken Hill South.. 1 5 9 Taranaki Oil 0 8 1

F eb. 10 Feb. ir> Per ton Per ton £ 8 d & s d Copper, Btan., spot 41 9 4 */, 41 10 7% Copper, stan., 3 mos. 41 Ifi 10% 41 10 3 Copper, electrolytic 40 10 0 40 10 0 to to 47 10 0 47 10 0 Copper, elect., wire bars 47 10 0 47 10 0 Lead, soft, spot . . 14 1 10 l / a 14 4 4% Lead, soft, forward 14 4 4% 14 6 lOVi Spelter, spot 13 0 71/ 4 /'i 13 ri 1% Spelter, forward 13 11 10% 13 13 l'A Tin, stan., spot 211 17 0 '2V2 17 6 Tin, stan., :1 mos 211 2 0 211 17 0