REACTIONS CONTINUE

New Zealand Herald, Volume LXXVI, Issue 23276, 20 February 1939, Page 5

REACTIONS CONTINUE

LONDON STOCK EXCHANGE FACTORS IN SITUATION, FINANCE AND POLITICS LONDON, Feb. 17 Reactions'on the Stock Exchange late last week continued, and prices yielded in most sections, though the turnover was small. Uncertainty over the credit position and the near approach of the Budget are blamed for halting the rally, but a less favourable view also' is taken of political prospects.

Brighter conditions prevailed in later dealings, following Sir John Simon's speech. Gilt-edged stocks fell back in an orderly manner with selling, and were absorbed at lower levels. Colonial stocks are fairly firm. Europeans continue to reflect the moro hopeful outlook. ' ,

No uniform trend cam bo observed in the commodity markets where the turnover is restricted. Base metals suffered from liquidation, and unfavourable statistical returns. Wool met witli a firm demand. SYDNEY STOCK EXCHANGE BUSINESS ON SATURDAY SIDNEY, Feb. 18 Sales on the Sydney Stock Exchange this morning included:— _£ h d Bunk of New South "Wales . 29 15 0 Tooth's Breweries .. .. 213 10% Associated News .. 100 British Tobacco (N.Z; del.) . 2 8 0 Broken Hill Proprietary .. 216 0 Cash Orders 0 15 10V 3 Colonial Sugar .. .. 47 5 0 Electrolytic Zinc . .. 2 6 6 Ditto (pref.) .. . 2 9 3 Commonwealth per cent. 1914, £lO2 10s; 1947. £lO3 2s 6d; 1953. £lO2 15s; 1961, £lO4 17s 6d. PRICES OF METALS TIN AND COPPER FIRMER LONDON, Feb. 17 Following are to-day's quotations on the London metal market, compared ■with those of yesterday:— Feb. 17 Feb. 16 Per ton Per ton _£sd £ s d Copper, stan., spot 42 1 3 41 9 4% Copper, stan., 3 mos. 42 6 :iO l / 3 41 10 10% Copper, electrolytic 47 0 0 46 10 0 to to _ * 48 0 0 47 10 0 Copper, elect., wire bars .. 48 0 0 47 10 0 Lead, soft, spot . 14 6 10% 14 1 10% Lead, soft, forward 14 4 4% 14 4 4% Spelter, spot . . 13 10 7% 13 5 7% Spelter, forward 13 16 10% 13 11 10% Tin, Stan., spot .. 213 7 6 211 17 6 Tin, stan., 3 mos. . 212 12 6 211 2 6 Quotations for other metals, with last week's prices in parentheses, are: — Pig iron: Home trade, £4 19s (£4 19s) per ton. Antimony: British, £7O 10s (£7O 10s); foreign, £4l* (£4l*). Molybdenite: £2 Is* (£2 l;s*) a unit. Wolfram: Chinese. £2 15s* (£2 16s*) a unit. •Nominal. FOREIGN EXCHANGES FLUCTUATIONS IN LONDON British Wireless LONDON. Feb. 17 Ihe following rates on foreign exchanges are current, compared with the cabled quotations yesterday and par:—

On the foreign exchange market today the following quotations ruled:— New York, 4.68| dollars; Paris, 177 francs; Batavia, 8.72$ guilders. NEW ZEALAND QUOTATIONS The Associated Banks (oither than the Bank of New 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. .. 3.72%. 3.74% On demand . 3.72 l %„ 3.74% Buying: On demand .. 8.78% 8.80% 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:—

CUSTOMS EXCHANGE RATES Finally declared rates of exchange ruling a* the date of departux'e of vessels named are shown in; the following table: —• Kainmta, Canada, dollars .« .. 4.71 Ivaimata. America, dollars .. .. 4.67 WHEAT AT LIVERPOOL (Received February 19, 5 5 p.m.) LONDON, Feb. 18 Wheat. —Liverpool futures: March, old contract, 4s 6 9-16 d a cental; now contract, 4s May, old, 4s 7-Jd; now, 4s s£d; July, 4s 6 13-16 d. BUSINESS ON WALL STREET NEW YORK, Feb. 17 On tlio New York Stock Exchange to-day, turnover totalled 680,000 shares.

Feb. 17 Montreal, dol. .. 4.71 New York, dol. 4.(58%, Pans, fr. .. 177 Brussels, belga.. 27.80% Geneva, fr. *.. 20.65% Amsterdam, gr. 8:74% Milan, lire .. SOVie Berlin, r.m. .. 11.68 Stockholm, kr... 1K.42 Copenhagen, kr. 22.40 Oslo, kr. . . 19.90 Prague, kr. .. 130% Helsingfors, mark 226% Madrid, pes. .. t Lisbon, escu. . . 110VS Athens, dr. .. 517'/ a Bucharest, lei... 600 Rio de Janeiro, m. 3Vjsd Buenos Aires, pes. 20.30% Montevideo, dol. lS l / a d Bombay, rupee.. 17"/ 10 d Shanghai, dol... t Hongkong, dol. 14 11! / 10 d Yokohama, yen 14d Batavia, gr. . . 8.72% Belgrade, din. .. 210 Warsaw, zloty.. 24.81 Feb. 16 4.70% 4.6S"/„ 170 31 / 3a 27,77 20.03 8.73% 89Vib 11.67% 10.4!) 22.40 10.00 137 220% + 110'/, 666 8'/„d 20.34M. li3Vad 17"/„d l-l"/ ie d ltd 8.71 209 24.81 Par 4.866 4.86 179.00 35.00 25.22 12.10 02.00 20.43 18.159 18.159 18.159 164.25 193.23 25.221 110 375.00 813.0 r>.S9»d 11.45 51 d 18d 24.58d 12.10 276.31 43.38 INominal. (Received February 19, ,5.5 p.m.) LONDON, Feb. 18

To £1 N.Z. T.T. On Demand Currency Selling Buyiing Selling U.S.A., dol. . 3.7352 3.7835 3.7362 Canada, dol. .. 3.7514 3.8031 3.7554 Belgium, belga . 22.147 22.532 22.152 Czecho'vakia, cr. 108.0!) — 108.11 Denmark, kr. . 17.830 18.200 17.832 Finland, Fin. ms. 178.99 185;19 179.09 France, fr. 140.69 — 140.71 Germany, r.m. . 0.275 — 0.277 Greece, drachmae 420.20 — 429.35 Holland, Q. .. 6.950 7.1410 6.953 Italy, *lire . 71.064 — 71.089 Java. 0. .. 6.927 7.117 6.929 Norway, kr. .. 15.838 16.188 15.841 Noumea, fr. .. 138.94 — 138.98 Papeete, fr. .. 139.09 — 139.13 Sweden, kr. .. 35.454 15.6109 15.457» Switzerland, fr.. 16.443 10.813 16.446 N.Z. pence to— Chefoo, dol. .. Nominal Hongkong, dol. 1813-16 18 13-32 18 13-16 India, rupee .. 22 41-64 22 ai-84 22 41-64 Ceylon, rupee . 22 41-64 22 a:-64 22 41-04 Japan, yen . . 17 37-64 — 17 37-64 Manila, peso Nominal Shanghai, dol. Nominal 35 Singapore, dol 35 31 '27-61 The cost in New Zealand currency of the pound sterling, and of the principal o\ r erseas units, on the latest quotations, is as follows: — Present Price Par s d s d London, pound .. 25 0.00 20 0.00 Australia, nound ... 19 11.88 20 0.00 Fiji, pound .. 22 5.66 4.0ft 20 0.00 New York, dollar 5 4 1.31 Montreal, dollar 5 3.68 4 1.31 Paris, franc 0 1.60 0 1.34 Berlin, reichsmark .. 2 1.80 0 11.74 Conenhacen, krone .. 1 1.39 1 1.22 Yokohama, yen 1 5.50 2 0.58