STOCKS AND SHARES

New Zealand Herald, Volume LXXVII, Issue 23617, 29 March 1940, Page 3

STOCKS AND SHARES

AUSTRALIAN DEALINGS STEADY MARKET RULING (Received March 28, 0.30 p.m.) SYDNEY, March 28 The Stock Exchange to-day was steady, with a small turnover. Sales included: — £ s <1 Bank New South Wales .. 2(i ')<> 0 Tooth's Breweries . . . . 212 0 Associated News . . . . o i l 0 Ditto .. Oil 8 A.C.I. (N.Z. delivery) .. J 15 3 Ditto 1 15 o British Tobacco . . . . 2 5 (1 Broken Hill Pty 2 5 (i Colonial Sugar . . .. 5o 5 o David Jones (ex div.) . . I 11 3 Electrolytic Zinc (pref.) . . 2 15 3 Ditto (ord.) . . . . 11 (1 G. .T. Coles 3 0 O General Industries . . . • 010 3 Millaquin Sugar . . . . 2 10 Woolworths (Syd.) . . • • 10!) Mount Morgan . . • • <> l" 0 MELBOURNE EXCHANGE £ s (1 Commercial Bank Australia () 14 11 Goldsbrough-Mort . . ■ • 17 0 A.C.I. ! I '.» ( > Broken Hill Pty. • • - • > United Provisions . . •• <> ° • > Mount Lyell .. • • j J'2 Emperor ■ . • • • • o i«> - NEW ZEALAND EXCHANGES R IvSTIMPTION ON MONDAY The New Zealand Stock Exchanges, which have been closed since Marcli 21 for the Easter vacation, will reopen on Monday. SHAREMARKET INDICES New York "Dow .Tones' averages (1926 equals TOO) and turnover on the New YorkStock Exchange are as follows: — 20 Pail- 30 Shares roads Industrials sold Mirch 18 .. 1 -!•"». ">0 fill), 000 March 10 .. 30.13 "140.01. 0-10,000 Ainrch 20 .. HO. I!) 11G.73 580.01 JO March o,> .. 30.10 11(1.73 300,000 March r ~5 .. 30.01 110.25 500.000 March '"o .. 20.0 X 115.8(1 020,000 March 27 .. 30.70 1-17.47 1,100.000 Highest in 1939.—Railroads, 35.90 (September 27); industrials 151.22 (September 12). Lowest in 1939: Railroi ids, 24.15 (April 18); industrials, 121.4 (April 8). London Stock indices compiled by the Financial Times, London, are as follows (October 15, 1926, equals 100): — Govt. Home Indus- Gold securities rails trials mines March 18 .. lOS.I 51.3 07.0 103.7 March 10 .. ios.o 53.0 07.5 1112... March 20 .. los.o 51.4 9<.0 102.S March 2(5 .. 108.3 54.0 08.0 103.1 March 27 .. 103.1 55.2 o<.o 10.i.b REPATRIATION OF DEBT SOUTH AFRICAN POLICY £7,900,000 TO BE REPAID (Received March 28. 0.40 p.m.) British Wireless LONDON, March 2/ A striking example of South Africa s ability to can*.' out her declared policy of debt redemption and repatriation of loan funds is contained in the announcement that the Union Government has decided to exercise its option to redeem nt par £7.900,000, portion of a Joan held in London as South African o per cent inscribed stock, 1940-60. Iho reoiivment of the loan obviates a. call on the London capital market at a time when heavv demands are being made on it, and will no doubt .strengthen South Africa's position should the Union at a later stage as a result of heavy defence expenditure, find it necessary to enter the maikct.

BANK OF ENGLAND NOTES NEW DESIGNS BEING ISSUED (Received March 23, 0.40 p.m.) British Wireless LONDON, March 27 The bank of England announces that, in accordance with arrangements made cnrlv in 1939. a new type of £1 note and* 10s note will be issued shortly. Consequently there will be two types of notes in circulation tor a time. 1 lie chief differences will be new colours—the new £1 notes being blue, instead of "l-ecii, and the 10s notes mauve with a grev band, with value symbols on the back in dark green. The notes will incorporate a novel anti-forgerv measure. This consists of a half-millimetre thread woven into the paper. It will hardly be noticed in handling, but when a note is held up to the light it will appear as a black line. The thread will stop the notesplitting device. HOWARD SMITH YEAR

an increase in earnings Not profit of Howard Smith, Limited, investors in shipping, coalmining and sugar businesses, Melbourne, w: > s £119.505 in 19:19, against £141,821 111 the previous year. Dividends remain the same. Results for the past tln'ce years aic. 1!);(7 inns m:m 1U forward .CIS,.VJ7 C"-!l.nOO Net profit . 1 Hi.UTI? lll.S'Jl i lli l,(! 00 ,C UKi, 121. £• 17(1.!!•_'(! To reserve . 2r>,000 110,000 Dividends Pf (i lie. 1.-,,000 15,000 1...000 Orii., r, p.c. lou.ooo 100,000 ioo.ooo ('nr. forward .t'Jl.'iOO .l"_> 1,1 -1 .C22.12.S The directors regard the results as satisfactory. The consolidated profit and loss account of Howard Smith, Limited, and its subsidiaries shows a net profit for the year of £15)8.711, alter providing £52.02:2 for taxation and £122,4M1 for depreciation. FOREIGN EXCHANGE RATES LONDON, March 27 Foreign exchange rates are:—NewYork (dollar), 4.002; Montreal (dollar), 4.45; Paris (franc), 176j!; Amsterdam (gr.l. 7.555; Brussels (belga), 2M.625; Milan (lire), 72.00; Hongkong (dollar), Mjd; Shanghai (dollar), 4Jd; Stockholm (Ur.), 1G.00; Copenhagen (kr.). 18.25; llatavia (fl.), 7.44 to 7.51; Oslo (kr.). 17.70; Geneva (fr.), 17.90; Ilium bay (rupee), 18d; Kobe (.veil), 15 59-61; lluenos Aires (pes.), 17.075. SHORT LOANS AND BILLS LONDON, March 27 The London discount and short loan and interest rates are unchanged, as also is tlio rato for Now York call money. PRICE OF SILVER LONDON, March 27 Silver is quoted to-day at 20.' t d a standard ounce and 21Jd a fine ounce. This compares with yesterday's rates at 20 1-1 tkl and 21 §d respectively. MOUNT LYELL SHARES LONDON, March 27 The quotation for Mount Lyell shares is 24s lid, compared with 2i3s 4id yesterday.