STOCKS AND SHARES

New Zealand Herald, Volume LXXVIII, Issue 23996, 20 June 1941, Page 3

STOCKS AND SHARES

THE AUCKLAND EXCHANGE STEADY MARKET TONE No major olianj'o was revealed in the tone on the Auckland Stock Exchange yesterday. A good turnover was maintained, with very little alteration in current levels, although some stocks, which have not changed hands recently, showed a fall on the last business. Short-da led Government stock was marked hack and there was a further slight easing in Hank ot New Zealands to a new low level ot litis. Further business was done in Reid Iltibber rights at a rise ot -d to 3s. CLOSING QUOTATIONS

DEMAND FOR WAR NEWS

CABLE AND WIRELESS RECORDS LONDON, June IS The world-wide demand for war news resulted in a leap of nearly £2.000,000 sterling in the l!)JO message receipts of Cable and Wireless, Limited, to i-7,ous,S<S, easily the highest since the combine was formed the profit of £2.3,0.7,1 was also a record the excess profits tax liability has not yet been worked out hence dividend remains unchanged.

Cable and Wireless, Limited, is: the British Kmicre communication company, formerly .imperial and International Communications, Limited, and is the operating company ot Cable and Wireless (Jloidimr), Limited, which announced an unchanpred dividend of -1 per cent last week. The combine of a number of communications companies was eftected in pes following; the Imperial \V ire.csi and Cable Conference. The message receipts ot Cable and Wireless, Limited, in I'.KjO were t I :{ls>,M, and it earned £ 1 ,(il(),.U>'J for dividend. ELECTROLYTIC ZINC TERMS OF NEW SHARE ISSUE The Electrolytic Zinc Company of Australasia, Limited, has announced the terms of its new issue of -100,000 ordinary snares ol .11 each The company states that 2? a share will be phvable on acceptance, Ss a share un October 10, 1011, and Jits a share on March til, I!M2. The offer will remain open for about six weeks from the middle of July. If instalments are paid by the due dates, shares will be entitled to participate in dividends as follows:- (1) One-fourth of any dividend declared on existing ordinary shares in respect of the half-year beginning Juljr 1» I'ill- C) three-fourths of any dividend declared oil existing ordinary shares in respect of the half-year betnnninfr January 1. L) 12; C!) thereafter in full. FOREIGN EXCHANGE Closinsr telegraphic rates for purchases and sales of foreign exchange Auckland on overseas centres yesterday were supplied by the Bank of New' vSoulh Wales as follows: —

QUOTATIONS IN LONDON LONDON*, June is Foreign exchange rales are: New York (dollar). I o:I; Montreal (dollar). 4.1.".; Switzerland ifr ), It •'!.*>; India (rupee). Is :! i -:V2d; lloinrkoitiT (dollar), led; Kobe (yen), ll' ,d; Shanghai (dollar). •'! 11-0,2 d: Argentine (pesos). 17,olli; Stockholm (k r.). 10.110.

SUA REM ARRET INDICES

London Financial Times (1020 equals 1 (10): —

lIIJME OFFER REJECTED The offer of lliiine Pipe Company (Anst.), Limited, to acquire shares of Monier Industries, Limited, Sydney, on the basis of one Hume Pipe share in exchange for three. Monier Industries shares, was rejected by shareholders at an extraordinary general meeting last week. A further meeting of shareholders is to be held.

SILVER AND TIN PRICES LONDON, June IS Silver Is quoted at 2:t 7-lOd a standard ounce and 25 5-lOd a fine ounce, against 2:i n „(l and 25' id an ounce, respectively, previously. Tin is attain firmer. Spot: Buyers, £2(il 5s a ton; sellers, £2Ol 10s, Forward: Buyers, £285 10ai aellers, £260.

J line to m rn T.T. Hnvinsr I . 1. . Selling New York, tlol. to t I'.! :i:.»0o0 Montreal, do!, to £ :t,iio:i!) IS-Y-MO Java, ft. to V . O.I ST 0.00 t Manila, pesos to £ it.,■»:.!) (1,112 lloiiffkotH:, pence to tlol. I M'{, lit t.;!2 India, pence to rupee . i'.] '2'J Ceylon, pence to rupee ■j-j ")•:!- i'MK •l I Shanghai, pence In ilol . .. . Singapore, pence to tlol t 11 -<> J .i . ii M > i S. At'.. eXX t'S.A. mo l 1 Ti/London, C'X.Z t'st, 10(1 W. 1 7/0 l'jr. Ausl ralia, (.'A. €X' 100 loo/io' 1 00 Fiji, tK. X'N.Z win no SS; 1 '_!/<>

Clovt. Homo Indus- Gold seenril ies rails f rials mines 1! 110 i linrh) ni.7 r.s.'j 10l.fi 200.1 1 ft Id ( low) . llll.s :!!.!> 151.1 KfS.S .1 ii no Hi 1 lM.'J 7 S7.f! 172.0 .1 lino 17 .ir.,s s7.r, 172.0 Juno IS i i.'i.t ■io.r> 87.7 I7;i.;i New York Dow Jones (1!)'_!(! equals 100): — 20 Hails 30 I'ndnst. Shares sold 1 ft 10 (liich) j fiT I.VJ .so — 1010 (low) . 22.15 ni s-1 Juno i <; 2.s.in r,;i or. a io.ooo .1 line 1 7 2s.in r_>:; 12 Kill. IK IH J line IS ys,2!) I ■-?.'{ :.<i .".so.ihio