AUSTRALIAN EXCHANGES

New Zealand Herald, Volume LXXVI, Issue 23411, 29 July 1939, Page 9

AUSTRALIAN EXCHANGES

MARKET LESS ACTIVE A.C.I. ISSUE RUMOURED (Received .Tuly 28, 7.50 p.m.) SYDNEY, July 2* The shnrcmnrket on the Sydnej Stock Exchange to-day was less active but 1 airly steady. There was good buying support for Australian Consolidated Industries, owing to rumours of a new issue at par. Sales included:— £ a ■ U Hank of New South Wales 28 0 .0 Commercial Bunking, Sydney 18 18 (J Ausl. General Insurance .. 0 17 (1 Australian Can A (old) .. 7 r> 0 Toohcy's Brewery (old) .. 1 !) 3 Tooth's . .. .. 2 12 0 Ditto . . , . ~ 2 12-1 A.C.I. 1 17 I) Ditto .. .. 1 17 lo'/ 2 Anthony Hordera . . 0 13 8 Aust. Iron and Steel (pref.) 18 1 British Tobacco . . 2 7 6 Broken ITill Proprietary .. 3 3 0 Ditto (con.) , . . . 2 17 0 Colonial Su(tar . . .. 45 5 0 Ditto (X,Z. delivery) .. 45 2 (1 Electrolytic Zinc .. .. 2 0 0 Fairymrnd Sugar .. .. 1.12 3 General Industries .. .. O II) 3 Hnckshalls .. .. .. 0 12 0 J. Fielding 3 10 0 Lustre Hosiery .. .. 0 10 3 Millnquin Sugar .. .. 2 0 0 Mods Dock . " .. 0 15 1 % Woohvorths (Sydney) , . 12 IVi Arahurn .. .. -. l p o Broken Hill South., .. i 0 0 Mount Morgan .. .. 0 0 1 Placer Development .. 3 11 0 Commonwealth Bonds.—3% per cent. 105-1 COO 7s (Id; -1 per cent. 1011, £IOO 10s 3d 101-1, XIOI 3s Od; 1017, .0101 lis 3d 1050, .CIO2 2s Od; 1053, .CIOO Os 3d; 1055 £IOO IGs 3d. MELBOURNE EXCHANGE Business on the Melbourne niarkei included:— £ a d Commercial Bank Australia 0 15 0 A.C.I. . .. .. i 17 10'/, British Tobacco . . . . 2 7 0 Electrolytic Zinc (pref.) .. 2 13 0 0. J. Coles (ex rights) .. 3 I t (> Herald and Weekly Times . 3 2 3 Myers Emporium .. . ISO Emperor 0 0 10 Lnloma .. .. i .(in Mount L.vell .. ~ 15 0 Mount Morgan .. .. 0 0 1 LONDON UNDERTONE BETTER NEW YORK BUSINESS EASIER LONDON, July 2< The stock markets are quiet, with i good undertone, due to the progres: toward the Anglo-Russian pact. A message from New York state: that turnover on the New York Ex change to-day was 820.000 shares against 890,000 on the previous day GOLD DREDGING CLUTHA RIVER COMPANY YEAR'S OUTPUT LOWER [from ouk own correspondent] LONDON, July u The directors of the - Clutha Golc Dredging Company for the year t< March 31 last state that productioi totalled only 79240z. for the full year against 82410z. in the closing Y. months of 1937-38. Dredging did no start until May, 1937. The original prospectus in 1934 gavi a profit estimate of £f50,000, based oj the recovery of 20,000 ounces. In spite of the increased period o working of the dredge during the pas year, costs seem to have been kep down to around the previous yuar'i total figure, but the higher gold pric( has not been sufficient to offset lowei recover}'. Thus the net profit of £14,831 goes against £21.992, but two divi dends have been forthcoming totalling 6i per cent, as in 1937-38. Mr. W. P. Gauvain has been ap pointed a director of the company. Mr Curphey, general manager, report: from Alexandra that since the dredg< commenced operations it has beet severely tested and.it has given even satisfaction. Operating under sue! trying conditions the running time ha: been exceptionally good. By having sufficient spare parts on hand tin dredge is being thoroughly inaintainec and it is in excellent working condition. GOLD AND SILVER QUOTATIONS IN LONDON LONDON, July T, Fine gold is quoted to-day a 1 £7 8s 6Jd an osame as yesterday. Silver is quoted at 16Jd an o■/.. spot and 16Jd forward, compared wit! 16 7-lGd and 16 l-16d yesterday. The quotation for silver at per fim ois 17 13-16 d,' compared with 17£ c yesterday. The following is a summary of the fluctuations in the price an ounce ol fine gold this year:— £ s d Highest price, January-4 .. 710 5 Lowest price, January 27 .. 7 8 2 July 21 . . 7 8 Gy a July '->2 .. .. ..780 July 24 .. .. ..7 8 s'/ a July 25 7 8 0 July 20 .. .. .. 7 8 OV, July 27 .. .... 7 8 6% PRICES OF, METALS LONDON MARKET FIRM London, July 2'Following aro to-day's quotations on the London metal market, compared with those of yesterday:— July 27 . July 20 Per ton Per ton .t s d £ s d Copper, stan., spot 43 2 (! 43 0 7'/ ; Copper, stan., 8 mos. 43 8 l'/ 3 43 5 7'A Copper, electrolytic 40 0 0 40 0 0 to - to 10 10 0 40 10 0 Copper, elect., wire bars . . .. 40 10 0 40 10 0 Lead, soft, snot .. 14 10 10V, 14 14 4 I A Lead. sort, forward 14 10 10% 11 15 Vj, Spelter, spot ..14 7 0 14 7 (I Spelter, forward .. 14 11 3 14 10 7 1 / Tin, stan., spot .. 220 18 0 220 18 0 Tin. stan.. 3 mos. . 225 3 0 224 17 0 CANADIAN WHEAT GOVERNMENT AND THE POOLS OTTAWA," July 27 The Minister of National Revenue Mr. E. I). Euler, announced to-day thai the Government Wheat Board will not act as a selling agency for wheat pools, The Government will accept the farmer's crop up to .5000 bushels undei n 70 cents guarantee, and . the remainder will be accepted by co-opora-tivo pools at 60 cents. This surplus must be marketed by the pools themselves to further co-operative marketing. AUCKLAND STOCK EXCHANGE The following is a list of active members of the Auckland Stock ICxchange. Members do not advertise shares for sale nor charge for advice on investment matters. Adams, 0. Gore Harrison, S. H. Buttle, G. R. Hay, !).• Buttle, K. N. • Kingston. John R Col heck, W. B. Law, C. G. Colegrove, .1. S. t) Macdonald, H. R Crcagh, G. C. Marshall, C. P. Decry, G. D. McLeod, Donald Fordo, H. G. Poison, A. G. Prater, J. H. Richardson, L. J Frater, J. VV. Rogers, G. F. Seorge, S. T. "i* S, avn e«> £• °* . r.illios A, W. Sheath, Raymond 3hSs. R. to Wakeman, T, 15. R Grtmson, W. W. Wright, T. B. Secretary: W. Laird Thomson. Telephone 40-391. —P.B.A.