FIRMER MARKETS

New Zealand Herald, Volume LXXVI, Issue 23400, 17 July 1939, Page 7

FIRMER MARKETS

SMALL LONDON TURNOVEI NEGLIGIBLE BUSINESS (Received July 10, 5.5 p.m.) LONDON, July 1 Business on tho stock markets gen , s orally remains negligible, although tin .| t tendency is firmer as a result of tin d lull in the international situation, j- Gilt-edged securities so far have beei °»'y fractionally affected by the Government's borrowing programme n Foreign bonds generally were firmer, ii spite of continued uncertainties, witl the exception of Par East issues, whicl again fell sharply. (I Sir John Simon's sweeping dceisioi 1 to raise the year's borrowing total t< 0 £500,000,000 scarcely stirred a ripple in the markets, which havo become inured to astronomical finance. WALL STREET ACTIVITY BUSY WEEK EXPERIENCED NEW YORK. July 14 Turnover on the New York Stock Eks change to-day totalled 5-10,000 shares, . compared with 050,000 on tho previous day. During the week New York business i. has fluctuated as follows: _ , Shares sold July 10 .. .. .. I*Bo,l ioo Jii.v ll .. .. -i-jo, 000 July 12 .. .. .. i) i 0.000 July 13 950,000 July It 510,000 Dealings for the week amounted ,to 3,100,000 stocks and shares, compared with 1,330.000 in the previous week, when the Exchange was open for only four days. TRADE OF BRITAIN e ' s SIX MONTHS' FIGURES LOWER ADVERSE BALANCE (Received July 10, 5.5 p.m.) LONDON, July 15 The Board of Trade returns for Juno show that the value of imports to Britain was £'82.17-1,000, compared with £76,502.631 in June, 1938, an increase of £5,671,366. The value of exports was £39,505,000, compared with £36,893.525, an increase eif £3,001,475 and of re-exports £4.307.000, compared with £4.987.170. a decrease of £680.170. The principal increases last month were:—lmports: Iron ore and scrap, £517.000; wood and timber, £550,000; iron and steel and manufactures thereof, £1.066.000; machinery, £755,000; chemicals and drugs. £586,000; oils, fats and resins, £1.277.000. Exports: Coal, £591.000; non-ferrous metals and manufactures. £379,000; chemicals and drugs, £521.000. The chief decreases were:—imports: Grain and flour, £1,536.000; living animals, £440,000; beverages and cocoa preparations, £622.000. Exports: .Machinery, £392,000. Re-exports: Wool and raw waste, £430.000; non-ferrous metals and manufactures, £395,000. Following is a comparison of the returns for June for the past three years:— Imports Exports Re-exports £ £ £ 1037 .. 88,110,077 4-I ..'173.015 7,120.952 103S .. 70.502.031 30.893,525 -1.0X7.1 TO 103!) .. 82,171.0(H) 30,805,000 -1.807.000 The apparent adverse balance in June, | 1937, was £36,616.710. It decreased in | June, 1938, to £34.621.939. Last month the excess of imports over exports in--1 creased to £37.972.000. i Corresponding returns for perioels of sir months are: — - Imports Exports Re-exports £ £ £ 1037 -183.122.000 251,211.215 40.553.318 1038 -100,017,018 233,1! 13,510 82.518.053 1030 -1-18,070,578 230.-IIB.OSO 28,101.103 The apparent adverse balance for the first six months of this year is £184.393,429. compared with £203.576,079 in 1938 and £191,654,467 in 1937. EXPORTS OF COAL INCREASE IN JUNE (Received July 10, 5.30 p.m.) British Wireless LONDON, July 15 Coal exports in June rose to 3.680,559 tons, compared with 2,988,020 tons in June, 1938. There were increases in the exports of coal to Finland, Sweden, Denmark, Norway and the Netherlands. Germany and Italy also took larger quantities than in Juno.. 1938. PIG LEAD IMPORTS (Received July 10, 5.5 p.m.) LONDON, July 15 Following are particulars of pig lead imports in June, compared with the | two previous months: — April May June j Tons Tons Tons | Imports .. 87,700 33,700 25,0-10 ■ Australian .. 18,17-1 10,702 1-1,557

BRITISH WAR LOAN DECLINE IN QUOTATION British Wireless LONDON, July I<t War loan, 3} per cent, is quoted at £93 ss, compared with £94 yesterday. PRICES OF METALS ; LONDON MARKET FIRM LONDON, July I t Following nro to-rlny's qnotntiftns on the. London metal market, compared tvith those of yesterday: — July I t July 13 Per ton Per ton £ s d £ h (I Copper, stan.. spot 12 10 I O 1 /, 12 10 10'/j Copper, stan., 3 mos. -13 3 V/t 13 3 l*/ 3 Copper, electrolytic -Hi o 0 'IS 15 0 to to '1!) 10 0 >lO 5 0 Copper, elect.,wiro bars 4!) 10 0 -to 5 0 Lead, soft, spot .. 14 14 <l'/, M 13 1% Lead, soft, forward 14 15 7'/!i 14.15 7'A Spelter, spot .. 11 IVi 14 3 W% Spelter, forward . . 11 8 l'/ a I'l 5 T'/i Tin, stan., spot .. 22!) 18 !» 22!) 18 !) Tin, stan., 3 nios. . 225 2 0 221 10 3 Quotations for other metals, with iast week's prices in parentheses, are:— Pip; iron: Home trade, £4 19s (£4 19s) per ton. Antimony: British, £7O 10s (£7O 10); foreign, £sl* (£so*). Molybdenite, £2* (£2*) a, unit. Wolfram, Chinese, £2 9s* (£2 9s*) a unit. •Nominal. MINING NEWS YIELDS OF COMPANIES .Big River (West Const). —Return for June: Battery department.—l7B tons of ore crushed for 1960z. 5d wt. melted gold. The cynnide department was not cleaned up. Total estimated value, £1430. In addition, two and a-qnarter tons of concentrates were saved valued at £6B. In estimating the above values, gold has been taken at Jsos a lino ounce. Moonlight fioldfields (West Coast). — 105.1 oz. in 450 hours. Mossy Creek (West Coast).—There was no wash-up last week. New River (West Coast). —220z. from 8000 yards in 12!) hours. Worksop Extended (West Coast). — 360z. from 10.000 yards in 119 hours. White's Electric (West Coast). — 240z. in 118 hours.