LONDON METAL MARKET

Otago Daily Times, Issue 21643, 13 May 1932, Page 5

LONDON METAL MARKET

(United Press Association.) (By Electric Telegraph—Copyright.) LONDON. May 11. (Received May 12, at g.SO'p.m.) Followlnß are the official quotations in Hie metal market:—

SYDNEY WOOL SALES (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, May 12. (Received May 12, at 8.50 p.m.) At the wool sales 10,288 bales were offered. Of these 7554 were sold; also 1072 privately. There was 1 strong general competion, Japanese buyers being particularly prominent. Greasy merino made lUd per lb. AUSTRALIAN STOCK EXCHANGES (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, May 12. (Received May 12, at 8.50 p.m.) Though they are naturally anxious as to the possible outcome of Mr Lang’s mortgage taxation measure, investors on the Stock Exchange are not unduly perturbed. The majority are relying, on the Legislative Council to save the situation. Sales are as follow: — Colonial Sugars, £42 12s 6d; Bank of New South Wales, £2O 7s 6d; Tooths, 25s 3d; 1 Toohey’s, 16s lid; British Tobacco, 29s Cd; Dunlop Perdriau, 11s sd; Goldsbroughs, 24s lOJd; Broken Hill Proprietary, lss 9d; South Broken Hills, 41s; 4 per cent. Commonwealth Bonds (1938), £94 2s 6d; 1941, £92 12s 6d; 1944, £BB 17s 6d; 1957, £BB Is 3d; 1959, £B6 15s; 1961, £B6 12s 6d. SYDNEY, May 12. This morning sales on the Stock Exchange were as follow: —Bonds, 4 per cent. (1938), £94 12s 6d; 4 per cent. (1941), £92 10s; Bank of New South Wales, £26 15s; Colonial Sugar, £42 12s 6d; Goldsbrough Mort, 255. MELBOURNE, May 12. Sales: Commercial Bank of Australia, 15s 2d; British Tobacco, 29s 9d; Gordon, Gotch, 26s 9d; Howard Smith, 6s 6d; Goldsbroughs, 255; Dunlop Perdriau, 11s 6d; Electrolytic Zinc (pref.). 22s 4d; North Broken Hills, 60s 6d. BANK OF NEW ZEALAND SHARES TRANSFERS FROM AUSTRALIA. The Bank of New Zealand has decided to re-permit transfers of the bank’s shares from the Australian registers to the New Zealand registers (reports the Sydney Morning Herald). Inter-register transfers other than from Australian registers to the New Zealand registers will not be permitted. Transfers from the Sydney and Melbourne registers to the New Zealand register had been prohibited since the end of October, 1930. BABCOCK AND WILCOX Referring to an overdraft of £232,146 sterling, shown in the accounts for the year ended December 31, the chairman of directors (Sir John Dewrance), at the annual meeting of Babcock and Wilcox, Ltd., in London on May 3, says the correspondent of the Sydney Morning Herald, explained that the company had £244,198 in Australia and New Zealand and other countries, which, owing to the exchange rate, it would not pay to bring to Britain. The company had allocated portion of its reserve to cover the position. Answering a question, the chairman refused to state the amount held in Australia. DUNLOP RUBBER COMPANY The Dunlop Rubber Company, Ltd., of Great Britain, shows a profit of £1,181,000 for 1931. A sum of £374,000 is being placed to taxation reserve. Dividend o.u the 6J per cent. “ A,” 7 per cent. “ B,” and 10 per cent. “ C ” preference shares is being paid, absorbing £281,000, but the final dividend on the ordinary shares, as with the interim dividend, is beinj* passed. The profit compares with £1,250,000 in 1930, when the final ordinary dividend was passed, and £2,306,500 in 1929, for which an ordinary dividend of 15 per cent, was paid. AUSTRALIAN MARKETS (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, May 12. (Received May 12, at 11.10 p.m ) Wheat: Ex trucks, Sydney, 3s 2d per bushel; country stations, 2s 7d. Flour, £lO per ton. Bran, £4 ss. Pollard, £5. Potatoes: Tasmanian, £7 10s per ton; Victorian, £6. Onions: Victorian and New Zealand, £lB per ton, with good demand. Merchants are anxious for more New Zealand onions owing to the failure of the local crops. Oats, 2s 6d per bushel. Maize, 4s 6d.

Copper, spot Ton. 0 lliso £0 1 3 Copper, forward .. . 29 13 1% liisa 0 1 10',4 Electrolytic, spot .. . .. 33 15 0 No change Electrolytic, forward . .. 34 15 0 No change Wire bare .. .. , .. 34 15 0 No change Lead, spot 10 18 9 Ilise 0 2 3 Lead, forward .. . U 5 0 Else 0 2 0 Spelter, spot .. 12 12 G Rise 0 2 0 Spelter, forward , .. 12 18 9 Rise 0 2 0 Tin, spot 9 Rise 4 8 8 Tin. forward .. .. , 9 Rise 4 7 6 Sliver,' standard ., . Oz. , IT'MOcl Rise l-10d Silver. Qne . 18 7-lCd lliso »/ 8 d