STOCKS AND SHARES

New Zealand Herald, Volume LXXVIII, Issue 23928, 31 March 1941, Page 3

STOCKS AND SHARES

DEALINGS IN SYDNEY - BROKEN HILL RIGHTS AT 20/Prices tended to harden in restricted trading on the Sydney Stock Exchnnge on Saturday. There was a tendency for investors to await further developments in the Balkan situation, but the general tone was firm. Investors who held oil' in the hope of securing Broken Hill rights cheaply were disappointed, trading closing on Saturday in Sydney at 20s, the peak point reached. It, is estimated that over 2o0,()00 rights changed hands in Sydney and Melbourne over the past six weeks. The shares will be quoted 5s paid in Sydney to-day. Sales on Saturday included: —Commercial Banking Sydney, CIS 15s; Bank N.S.W., £2O Pis; Tooheys, 2ns I'/iil; Associated Newspapers, 1.2s Td; Australasian Paper (ex div.), 31s (id. als 7d; A.C.I, (con.), 28s Australian Iron and Steel (prcf.), 2(is 3d; Bonds Industries, 30s (id; British Tobacco, •17s (id; Broken Hill Pty„ Us .'id; ditto (rights) Ins ltd, 2( is (London delivery); Goldsbrough Mort, 25s fid; Selfridgcs, 19s fid; Woolworths (Syd.), 17s Id; North Broken Hill, 38s; Emperor, lis; Mount Morgan, 10s 6d; ditto (jiref.), '2ls Sd; Placer, 60s lid; Rawarig Tin, 8s lfl. LONDON MARKET RALLY ACTIVITY IN NEW YORK LONDON, March 28 The Daily Express, referring to the effect of the Yugoslav coup on the London Stock Exchange, says that, after a lifeless opening. prices suddenly spurted. Bears rushed in to cover, and many investors lost their hesitancy. Greek bonds soared, and home rails rose £2. Jobbers, assuming a setback to Mr. Matsuoka, even put up the prices of Japanese bonds. Although there was no boom, tho activity represented an excellent recovery. A New York message stated that Wall Street has construed as favourable the war developments abroad, and also the official moves toward a settlement of strikes at home which had been delaying tho defence programme. . ~ , Most commodity prices were higher. high rates for the season were touched by cotton and rubber futures, but wheat lost almost one cent a bushel on profit taking. AUSTRALIAN COMPANIES DUNLOP PERDRIAU OFFER Dunlop-Pertlriau Rubber.—An offer has been made by the Dunlop-Perdrian Company to buy all of the 200,1 >OO preference shares of Barnct Glass Rubber Company, Melbourne, at .'!( is a share. The offer is made subject to acceptance by holders of at least 150,000 preference shares. Lustre Hosiery.—Both in the Commonwealth and in New Zealand, Lustre Hosiery reported record turnover in ordinary trade channels in HMO. The company, moreover, executed large Army contracts for wool and cotton underwear. Net profit at €34,835 compared with £33,815 in 1939. Ordinary and preference dividends have been raised by 1 per cent to 9 per cent. Metal Manufactures.—Following an increase in nominal capital from £1,500,000 to £2,000.000, Metal Manufactures, Melbourne has issued 100.000 ordinary £1 shares to its shareholding companies. These include Electrolytic Zinc. Mount Lycll, E.. S. and A. Bank. North and South Broken Hill, and Imperial Chemicals, as well as various British cable interests. Howard Smith.—Net profit of Howard Smith, Sydney, in 1910 was £130,880. against ft41),505. Dividends were unchanged, and £20,000 was transferred to reserve, making it £445.000. FOREIGN EXCHANGE Closing telegraphic rates for purchases and sales of foreign exchange Auckland on overseas centres on Saturday were supplied by the Bank of New South "Wales as follows: March 20 T.T. T.T. Buying Selling New York, dol. to £ .. 3.2542 3.2050 Montreal, dol. to £ . . 3.(5039 3.5290 Greece, drachmae to £ Java. fl. to £ 6.187 6.00-1 Manila, pesos to £ .. 0 550 0.442 Hongkong, pence to do!. 18% 19 1-32 India, pence to rupee . 22 5-32 22 49-04 Ceylon, pence to rupee , 22 5-32 22 49-04 Shanghai, pence to dol. Singapore, pence to dol. 34 41-04 35 39-01 fi. Af.. £N.Z. £S..\. 100 123 125/5/Londori. N.Z. £st. 100 124/7/6 125 Australia. £A. £N.Z. 100 100/10/- 100 ]■ iji, £F. £N.Z. 100 00 88/12/6 QUOTATIONS IN LONDON LONDON, March 29 Foreign exchange rates are:—New York (dollar). 4.03; Montreal (dollar), 4.45; Switzerland (fr.), 17.35; India (rupee). Is Od: Hongkong (dollar). Isd; Kobe (yen), 1-t'vl; Shanghai (dollar), 3 7-32 d; Argentine (pesos). 17.043; Stockholm (kr.). 10.90. SUA REMARK ET INDICES London Financial* Times (1026 equals 100"); Govt. Home Indus- Gold securities rails trials mines 1910 (high) . 111.7 58.2 101.fi 200.1 1910 (low) .. 10',.S 31.9 (>l.l 138.8 March 27 . . 113.2 11.0 81.1 172.1 March 28 .. 113.1 15.1 81.5 172.5 New York Dow Jones' (1926 equals 100): 20 Rails 30 1 ndiist. Shares sold 1940 (high) . 32.07 152.80 1910 (low) .. 22.15 111.84 March 27 .. 28.0)1 123.33 550.000 March 28 .. 28.15 122.08 4 10.000 March 29 .. 28.55 122.37 210.000 TIN AND SILVER VALUES LONDON. March 28 silver is quoted unchanged at 23V a d a standard ounce and 2.V\,d a fine ounce. The tin market is stronger. Spot: Buyers. £274 a toil; sellers, €27 1 ss. Forward: Buyers. £271; sellers, £271 10s. BRITISH DEFENCE LOAN (Heed. 5.35 p.m.) LONDON, March 28 The Treasury has created a new £120.000,000 defence loan at 3 per rent, maturing in 1954-58. The National Debt commissioners have already received £75,000,000, and will receive the balance on April 1. MINING YIELDS Fiji mine returns for the four weeks ended March 19 were:—Loloma: Treated 2000 tons for 32500z fine gold. Emperor: Treated 10.93.0 tons, including 3801 tons of sulphide ore. for 4004 fine ounces. Biilolo (New Guinea).—For February, 10.589 fine ounces from 1,510,000 yards; esti mated working profit o<i23oz. West Coast mining returns are:—Snowy River, ISoz for 133 hours; Maori Gold, 23VjO& from 3S(mlyds in 30 hours; Argo, 41oz from 12,000,Ti1s in 133 hours. AUSTRALIAN IRON AND STEEL The remarkable results achieved by Australian Iron and Steel, Limited, in assisting the war effort were apart from the company's usual steel-making activities, and played no part in tho company's profits, said the chairman, Mr. IT. G. Darling, at the annual meeting at Melbourne. Expenditure which was being incurred on plant, the, subsequent value of which was to a large extent problematieul, would necessarily involve at some stage heavy depreciation. A preference shareholder said that, as the reduction in the preference rato of dividend under the Financial Emergency Act had been in operation for 10 years, lie considered thai the rate should he restored to IV, per cent. This, he said, would involve an increase in the distribution of only C 17,000. Mr. Darling said consideration would be given to the request. CALL AND DIVIDEND LIST Dividends— Due Dnnlop Perdriau —1., pf., 5 p.c.; ord.. 3Vj p.c. . . . , . To-day Bonds Hosiery -10 p.c. p.a. , , To-day British Tob. —ord., qrtly., 2 p.c. To-day Cox Bros. —int., A, B pf., 3*4 p.c.; ord., 5 p.c. . . . . To-day Hume Pipe—int., pref., 3*4 p.c.; ord . 2 p.c . . To-day Beath—-inf., pf. and ord.. 2% p.c. To-morrow Milne and Choyce—int., pf., 3 p.c.; B pf.. 3's p.c.; ord. and deb. 2 1 j p.c. . . To-morrow Wwtlm Holdings (S.A.) —int., 5 p.c. . . To-morrow Felt and Textiles —I. pf., 3 p.c.; ord., 5 p.c. . . . . . To-morrow Chcli, Hid. —F. 2'j p.c. To-morrow N.Z. Drug F., 2'i p.c . . April S Wwflis (N.Z.) int., pf.. I' 4 p.c. April 15 AV'wths (Syd.)—ord.. final. 11/2 P-c. April 15 W'wtlis (W.A.) —ord.. final, 12'4 p.c.; bonus, 2Vi p.c. .. April 15 M.K. Man. —«i p.c. p.a. . . April 10 Drug Houses —3 p.c. April 30 Aus. Iron, Steel—F„ pf., £f2/18/I'/a p.c. . . .. .. .. May 1 Calla— A.C.l.—con., ss, % >i. ... To-day.