AUSTRALIAN EXCHANGES

New Zealand Herald, Volume LXXVI, Issue 23284, 1 March 1939, Page 7

AUSTRALIAN EXCHANGES

KEACTION SETS IN NEW ZEALAND LOANS SELL (Received February 28. 8.35 p.m.) SYDNEY, Feb. 28 Reaction occurred on th'o Sydney Stock Exchange to-day after yesterday's brighter trading. Leading industrials and Commonwealth bonds were shaded. Sales included:— £ s d Commercial Banking Sydney 20 2 0 Union Bank . . . . 7 10 0 Mercantile Mutual Insurance 1 0 3 Toohey's Brewery .. .. 1110 Tooths 2 13 10% British Tobacco . . .. 2 7 0Broken Hill Proprietary .. 210 0 Ditto ~ .. ~ 2 15 0 Ditto (con.) . .. . . 2 3 0 Ditto .. . . .. 2 3° 0 David Jones .. .. .. 1 14 3 Electrolytic Zinc (pref.) .. 2 0 o Falrymead Sugar .. .. 1 11 0 Henry Jones . .. .. 2 8 0 Kandos Cement .. . . 1 ft o Millaquin Sugar .. .. i 18 o Peters .. .. 2 12 0 Pitt, Son and Badgery .. 1 10 0 Sargents (ex div.) .. .. 10 0 W, Adams .. .. .. 0 15 7% W. Atkins .. .. .. 13 7% Arahura .. .. .. 10 0 Emperor ~ .. .. 0 8 8 Mount Lyell . .. .. 10 1 Rawang Tin .. .. 0 7 0 Zinc Corporation .. .. 4 10 0 | New Zealand inscribed sto?k, 15/3/30-43, 3%. £O4 ss. Commonwealth bonds—l per cent, 1011. £lOl 158; 1044, £lO2 2s (id; ! 1017, £ 102 17s (id; 1053, £lO2 15s; 1057, I £lO3 7s (id; 1050, £lO4 7s Od; 1001, £lO4 j 7s Od. MELBOURNE EXCHANGE Business on the Melbourne market included:— £ s d Commercial Bank Australia . 010 0 Commercial Banking Sydney 20 0 0 Aust. Paper Manfrs. (pref.) 1 4 0 Broken Hill Proprietary .. 210 3 Dunlop-Perdrian .. .. 10 11 Myers Emporium .. .. 170 Broken Hill South .. .. 10 3 Emperor . . .. .. 0 .8 0 North Broken Hill .. .. 2 5 3 FOREIGN EXCHANGES FLUCTUATIONS IN LONDON British Wireless LONDON, Feb. 27 The following rates on foreign exchanges are current, compared with the cabled quotations on Saturday and par:— Feb. 27 Feb. 25 Par Montreal, dol. . . 4.70%,, 4.70/4 4.800 New York, dol. 4.08/ i« 4.00%, 4.80 Paris, fr. .. 177%* 1~~%« 170.00 Brussels, belga.. 27.80 27.80 35.00 Geneva, fr. .. 20.02 Amsterdam, gr. 8.82 8.70% 12.10 Milan, lire .. 80%« 80y,„ 02.00 Berlin, r.m. .. 11.00% 11.00% 20.43 Stockholm, kr.. . 30.42 10.12 18,150 Copenhagen, kr. 22.40 22.40 18.150 Oslo, kr. .. 10.00 10.00 18.150 Prague, kr. . . 130% 130% 101.25 Ilelsirigfors, mark 220% 220% 103.23 Madrid, pes. t t 25.221 Lisbon, escu. .. 110% HOV* 110 Athens, dr. .. 547% 547% 375.00 Bucharest, lei... 000 000 813.0 Rio de Janeiro, m. 3%, d 3'/,«d 5.800 d Buenos Aires, pes. 20.34 20.31% 11.45 Montevideo, dol. 18% d 18% d sld Bombay, srupee. . 17 ,9 /i o d 17 16 /i«<l Shanghai, d 01... t t Hongkong, dol. 14 10 / is d 14 ,5 / 16 d Yokohama, yen lid lid 24.58 d Batavia, gr. .. 8.82 8.81% 12.10 Belgrade, din... - 200 200 270.31 Warsaw, zloty.. 24.87 24.87 43.38 —Quotations not received.

NEW ZEALAND QUOTATIONS Tlio 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 3.72 I 3 3.71% On demand .. 3.73'/Z 3.71% Buying: •On demand .. 3.78% a.SOVi Following are the latest rates for purchases and sales of foreign exchange quoted by the Bank of New South Wales, Auckland. Tliey are subject to alteration without notice:— To £1 N.Z. T.T. On Demand Currency Selling Buying Selling U.S.A., dol. .. 3.731)0 3.7873 3.7 100 Canada, dol. .. 3.7531 3.8018 3.7541 Belgium, belga . 22.218 2:2.003 22.223 Czecho'vakia, cr. 108.4-1 Denmark, kr. . 17.830 18.200 17.832 Finland, Fin. ms. 178.00 155.1U 170.00 France, fr. . . 110.73 Germany, r.m. . 9.287 Greece, drachmae 420.20 Holland, (1. .. 7.013 7.203 7.015 Italy, lire .. 71.073 Java, fl. .. 0.!)87 7.177 0.080 Norway, kr. If. 838 10.188 15.811 Noumea, fr. .. 138.08 Papeete, fr. .. 130.13 ' 130.17 Sweden kr. .. 15.157 15.812 15.1(H) Switzerland, fr. 10.411 10.781 10.414 N.Z. pence to— Ghefoo, dol. . Nominal Honskong, dol. IS 25-32 18% IS 25-32 India, rupee .. 22 41-04 22 3-04 2241-01 Ceylon, rupee . 22 41-04 22 3-04 22 41-04 Japan, yen ~ 17 37*01 Manila, peso 32 7-32 31 27*04 32 7-32 Shanghai dol.. Nominal Singapore, dol 35 1-04 34 710 35 1-64 The cost in New Zealand currency of the pound sterling, and of the principal overseas units, on the latest quotations, is as follows: — . Present Price Par s d s d Lo.idon. pound .. 25 0.00 20 0.00 Australia, pound .. 10 11.88 20 0.00 Fiji, pound . .. 22 5.00 20 0.00 New York, dollar .. 5 4.03 4 1.31 Montreal, dollar .. 5 3.85 4 1.31 Paris, franc . * .. 0 1.00 0 1.3-1 Berlin, reiclisinark .. 2 1.07 0 11.74 Copenhagen, krone.. 1 1.30 1 1.22 Yokohama, yen .. 1 5.50 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 tabic: — Tolten, Canada, dollars . .. .. 4.71 Tolten, America, dollars . .. .. 4.08 Port Halifax, Canada, dollars .. .. 4.71 BRITISH WAR LOAN A HIGHER QUOTATION British Wireless LONDON, Feb. 27 War loan, 3J per cent, is quoted at £97 12s 6d. compared with £O7 5s on February 23. TALKS TO INVESTORS It is proposed to publish on this page, every alternate Wednesday special talks by Mr. C. J. Green, stock and sharebroker, with the object of assisting the investing public along the lines of * previous publications of the same nature. The state of the market at the present time coupled with political unrest both at home and abroad is causing the investor much concern and he definitely needs all tin? help that cnn be given him. These short articles are directed to the real investors and not the speculator (the investor being defined as one who places liis money in stocks or shares with thy main object of safety of capital plus ns good u return thereon as can be obtained commensurate with safety). He does not look for capital appreciation so much as safety and reasonable interest on bis money. Now provided the investor is protected be. should not bo troubled by minor fluctuations in-the market value of his stock or shares and there is no reason for him to sacrifice or lose capital on a good investment simply because a number of panicky individuals sell. On the other hand when money is available for investment the' right time to buy is when others are selling provided the investment is a . sound one. Although the real investor should not he concerned with fluctuations in the market value of his shares it is important that he should from time to time, and especially at times like the present, carefully review bis investment and call to his assistance the aid of a responsible and competent stockbroker. Such assistance is never charged for and the advice-given need not necessarily be followed. There is, therefore, no reason that it should not be made use of. The next talk by Mr. Green will be ' specially directed to the subject of j periodic revision of investments, for it ' does not do to go to sleep on your holdings, which, no matter how eood they are, should be watched.—P.jß.A. 1