POLITICS DOMINANT

New Zealand Herald, Volume LXXVI, Issue 23430, 21 August 1939, Page 5

POLITICS DOMINANT

UNEASINESS IN LONDON PRESSURE ON STERLING LONDON", Aus. 18 The City suffered a mild attack of "jitters" as a result of tho German press chorus not to compromise in the negotiations over Danzig. Pressure on sterling greatly increased. The authorities lost n considerable amount, of gold in their eflorts to hold the dollar rate. Ihere have been large-scale withdrawals of Continental capital l'or transfer to New York, owing to political nervousness and rumours of impending devaluation of sterling. Politics have dominated tho stock markets. There has been a small volume of selling on a market devoid of buyers caused by the general downward tendency of prices. Prices and sales moved narrowly on tho commodity markets.

WALL STREET BUSINESS A MORE ACTIVE WEEK NEW* YORK, Aug. 18 Business on tho Now York Stock Exchange to-day comprised 840,000 shares, compared with 440,000 shares on the previous day. Trading on Wall Street during the past week was as follows: Shares sold Auklist 14 .. .. 550,000 August 15 .. .. 000,000 August 10 . . .. 010,000 August 17 .. .. 440,000 •August 18 . . .. 810,000 Total turnover for tho period was 3,130,000 shares, against 2,840,000 shares in tho previous week. SYDNEY STOCK EXCHANGE DEALINGS ON SATURDAY SYDNEY, Aug. 19 Business on the Sydney Stock Exchange this morning included the following sales: — £ s d Huddart-Parkor .. .. 2 15 3 Tooths 2 11 3 Associated News (pref.) .. 10ft British Tobacco . . .. 2 5 9 Broken Hill Proprietary .. 3 10 Cash Orders .. ~ 0 16 0 Colonial Suprar . .. 44 12 G Commonwealth Bonds.—S l A per cent, 1918, £9O 7s 6d; 3% per cent, 1031, £9B 10s; 4 per cent, 1917, £lO2 ss; 1053, £IOO 7s 6d; 1061, £lOl 18s Od. CHRISTCHURCH TURNOVER FURTHER. INCREASE RECORDED There was a further improvement in the volume of business on tho Christcluirch Stock Exchange last week, the turnover of £13,965 comparing with £11,62!) in the previous week. Dealing in Government loans was again active, the value sold amounting to £2990, against £2220 in the previous week. Banks and insurance issues were also popular. The week's business was spread as follows, the previous week's figures being given in parentheses:— Government loans, £2990 (£2220); banks, £l9Ol (£2652); insurance, £1506 ( —); frozen meat, £B3 (£308); breweries, £376 (£514); miscellaneous, £6567 (£4798); mining, £482 (£583).

NORTH BROKEN HILL DIVIDEND OF 6D A SHARE 40 PER CENT FOR YEAR Tlio directors of North Broken Hill, Limited, Melbourne, have advised the Stock Exchange that a quarterly dividend of 6d a share has been declared, payable in Melbourne on September 27. The dividend, which will require £70,000, is the fourth quarterly payment for the financial year ended June 30, and makes a total of 2s a 6hare of ss, or 40 per cent for the year, against 3s, or 60 per cent, in the previous year, and 6s, or 120 per cent, in 1937. The payment will bring the total dividend distribution of the company up. to £9,160,190. METALS IN LONDON HIGH PRICE OF COPPER LONDON. Aug. 18 'Following are to-day's quotations on the London metal market, compared with those of yesterday:— Aug. 18 Aug. 17 Per ton Per ton £sd £ s d Copper, stan., spot 44 19 4% 44 0 7% Copper, stan., 3 months .. 44 18 IVa 44 3 1% Copper, electrolytic 50 O 0 GO 0 0 to to 51 0 0 50 10 0 Copper, eJec., wiro bars .. .. 51 0 0 50 10 O TjCad, soft, spot .. 15 10 1% 15 10 10% Jjend, soft, forward 15 If! 10% 15 14 4% Spelter, spot . . 14 10 O 14 8 O Spelter, forward .. 14 13 1% 14. 12 C> Tin, stan., spot . . 220 38 0 220 18 0 Tin, stan., 3 mos. 225 8 0 22.) 2 0 Quotations for other metals, with last week's prices in parentheses', are: — Pig iron: Home trade, £4 19s (£4 10s) per ton. Antimony: British, £7O 10s (£7O 10s); foreign. £49 10s* (£49*). Molybdenite, £2* (£2*) a unit. Wolfram, Chinese, £2 Bs* (£2 Bs*) a, unit. •Nominal.

BRITISH COAL TRADE EXPANSION OF EXPORTS (Received August '2O, 8 p.m.) British Wireless LONDON, Auk. lfl Tho lust few months have seen a striking improvement in British coal exports. In tho quarter ended Juno .'3O J0,256,000 ton.s were sent abroad from the United Kingdom, compared with 8,225,000 tons in the first three months 'of tho year, and 8,94-'},ooo tons in tho corresponding quarter of 1938. This volume was the largest for the corresponding period in any year since 19152. Tliero have been heavier shipments this year to Holland, Italy, Denmark and Germany. CALL AND DIVIDEND LIST Dividends— Due Renown Collieries —pref., 7 p.c.; oni., 1()d n share .. .. To-day Quill Morris (1030) —int., 5 p.c. | p.a. . .. .. .. To-morrow firey and Mcnzies—prof, and ord., 8 p.c. p.a, .. .. Auk. 21 lladio (103(5), Ltd.—ls a sliaro Auk. 25 Queensland Brewery—final, ord., ; l'/j p.c.; prer., 2% p.c. .. Aupr. 25 Dominion Investment —final, A, B. C, 5 p.c. p.a.; B. C (3rd issue), -I p.c. p.a. . . . . Aupr. 28 Silverton Tramways—final, Is a sharo . .. .. .. Aupr. HO Bank N.S.W.—int., quarterly, Us a share (Australian currency) Auk. 31 Emperor Mines—fourth, tld a sliaro . .. .. . . Aur:. 31 Standard Insurance—final, Is 3d a share .. .. .. Sept. 3 Loloma—sixth, :1s a share .. Sept. 8 Hnildart-Parker —int.. pref., 3 *• p.c.; ord., 7 p.c Sept 1-1 Electro. Zinc—pref. and ord., final, 0 p.c. .. 5 »' 3? Broken Hill South—Od a share Sept. 15 I). and W. Chandler—int.. pref., <! p.c. p.a. .. ... , • • Sept. 15 Auckland Farmers' Freezinff—O p.c. p.a. . ■ • • • • Sept. 23 Nortli Broken Hill—quarterly, . Od a share .. .. •. Sept. _< Calls — , „ l Tooheys—new, Ss a share .. Sept. 21 G. J. Coles —new. ,10s a shara .. Jan. 81