COMMERCE AND FINANCE

Otago Daily Times, Issue 22519, 13 March 1935, Page 12

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS

FOREIGN EXCHANGES (British Official Wireless.) (United Press Association.) (By Electric Telegraph —Copyright.)

ON NEW ZEALAND CURRENCY BASIS The Bank of Kew South Wales, Dunedln, quoted the following rates for purchases and' sales of foreign exchange yesterday:—

These rates are subject to alteration without notice. DOLLAR RATES The Associated Banks (other than the Bank of New South Wales) quoted the following dollar-sterling rates yesterday, which are subject to alteration without

BULOLO SHARES (United Press Association.! (By Electric Telegraph—Copyright.) LONDON, March 11. Bulolo shares are quoted at £7 5s 7Jd. KEMPTHORNE, PROSSER, AND CO. Submitting the fifty-sixth report and balance sheet on the year s workings, the directors of Kempthorne, Prosser, and Co.'s New Zealand Drug Company Ltd., recommend that the profits should be dealt with as under :-The unappropriated balance brought forward from profit and loss account last year was> *34,391 and the net profit this year £54,493, making a total of £88,884, less interim dividend for half year to July 31 last at 2j per cent.

THE SHARE MARKET DUNEDIN STOCK EXCHANGE Electrolytic Zinc ordinary shares were disposed of at £1 Is lOd on the Dunedin Stock Exchange yesterday, the market closing with a buyer at £1 la 9d and a seller'at £1 2s. Gillespie's Beach shares were also the subject of. business at Is 9d, buyers' final offer of Is BJd being one halfpenny below sellers' requirements. Bank of New South Wales shares were reported to have been sold at £3O, a final seller at £3O 10s failing to attract buyers. Bank of New Zealands were reported to have changed hands at £2 9s 3d, buyers' closing offer on 'Change being £2 9s, while sellers did not come forward. Westport Coals were disposed of at £1 Is 6d, a seller at £1 Is 9d on 'Change remaining unanswered. Two parcels of paid-up New Zealand Refrigeratings were reported to have been sold at 19s 3d, the market closing with a seller a>fc 19s sd. Two sales of New Zealand Breweries were also reported at £2 lis 3d, the market closing on a slightly firmer tone, buyers offering £2 lis id, while sellers asked £2 12s 3d. SALES ON 'CHANGE. .

DIVIDENDS PAYABLE. The following is a list of the shares on which dividends will shortly be payable: *& SSSf - 8 March 13 BiUcn Hill South, is 6d Per G t r "L?S S North Broken ™> l * 6i March 29 Ba S nk ie of'"Australasia, 8 per cent., 6s per share .. .. •• -J Smith and Smith (pref.), 5 per cent., Is per share annual

KUGBY, March 11. ParisFrancs to £ 1 Par. 124.21 Mar. 9. 711 Mar. 11. 71 23-32 Brussels — Belgas to £1 30 20.22 20.26 Oslo — Kroner to £1 18.180 19.901 19.901 Stockholm — Kroner to £1 18.130 19.391 19.391 Copenhagen— Kroner to £1 18.150 22.391 22.391 BerlinMarks to £1 20.34 11.73 11.75 Montreal — Dollars to £1 4.86 2-3 4.82 4.821 New York— Dollars to £1 4.86 2-3 4.77J 4.77g Tokohama — Pence to yen .. 24.582 141 141 Hongkong — Pence to dollar 24.58 23 24 1-16 Bombay— Pence to rupee isi 181 Batavia — Florins to £1 12.10 6.881 6.881 MilanLire to £1 .. 82.46 56g 56! Amsterdam — Guilder to £1 12.10? 6.961 6.981 Prague— Kroner to £1 1041 112J 113 1-16 Geneva — Francs to £ 1 25.223 14.531 14.571 Vienna— Schillings to £1 84.86} 25i 251 Helsingfors— Marks to £1193.23 2261 2261 Madrid— Pesetas to £1 25.22J 34 17-32 348 - Belgrade— Dinars to £1 25.221 207 207 AthensDrachma to £1 375 497 492 Lisbon — Escudos to £1 HO 1101 - 1101 Bucharest — Lei to £1 .. 931.6 4671 4671 Bio de Janeiro— 41 Pence to mllrels 5.890 41 Buenos Aires — Pence to pesos 47.28 361 361 Shanghai— 191 Pence to tael *— 19'/4 Montevideo — 4U Pence to pesos — 41g Warsaw — Zlotys to £1 __ 24.75 24.75

Buying. Selling. London— £N.Z. to £100stg T.T. O.D. 124 124/10/124/7/6 Australia —. £A to £100 N.Z. T.T. O.D. 101 101 100/10/Fiji— £F to £100 N.Z. T.T. O.D. 90/7/6 90/7/6 89 89 New YorkDollars to £1 N.Z. T.T. O.D. 3.861 3.87g 3.811 3.811 Montreal — Dollars to £1 N.Z. T.T. O.D. 3.89J 3.903 3.851 3.86 France — Francs to £1 N.Z. T.T. O.D. 58.26 58.56 56.96 57.01 Noumea — Francs to £1 N.Z. T.T. O.D. 59.21 59.61 56.21 56.26 Papeete— Francs to £1 N.Z. T.T. . O.D. 59.21 59.61 56.21 56.26 Belgium— Belgas to £1 N.Z. T.T. O.D. 16.664 16.764 15.964 15.979 Germany— Beichsmarks to £1 T.T. O.D. - 8.236 9.241 Italy** Lire to £1 N.Z. T.T. O.D. ;■'='£•. 45.02 45.06 Switzerland— • ■ ' Francs to £1 N.Z. T.T. O.D. 11.930 12.005 11.530 11.540 HollandFlorins to £1 N.Z. T.T. O.D. 5.747 5.797 5.497 5.501 Java — •Florins to £1.N.Z. T.T. O.D. 5.690 5.740 5.465 5.469 Japan— N.Z. pence to 1 T.T. O.D. - 17 13-16 Shanghai— N.Z. pence to 1 dollar .. • • T.T. O.D. 23 1-32 24 11-32 22.29-32 24 9-32 India and Ceylon— N.Z. pence to 1 rupee •. T.T. O.D. 22 11-32 22 11-16 22 7-32 22g Hongkong— N.Z. pence to 1 dollar . • i • • T.T. O.D. 29 9-16 1 29 7-10 30| 30 9-16 Singapore— N.Z. pence to 1 dollar • • ■ T.T. O.D. 34 11-32 35 9-32 34 7r32 35 7-32

notice:- u g A . Canada . pola. Dols. Conversion of dollar bills received for collection and sale of dollar drafts and telegraphic transf ers 4.(5 Purchase of dollar bills 4.79 4.80 4.84 On a New Zealand currency basis these rates are equivalent to:— Canada. Dols.' Dols. B f% S ~ • .- •• 3^14 3.85J O.D. '.'. 3.815 3.85i Buying— O.D •• 3 - 88 3.92J

\ £ s. d. Electrolytic (old.) . 1 1 10 Gillespie's Beach .. 0 1 9 SALES REPORTED Golden Sands (late Monday) 0 2 2 Bank of New South Wales 30 0 0 Bank of New Zealand .. 2 9 3 Westport Coal .... 1 1 6 N.Z. Refrigerating (paid), 0 19 3 N.Z. Breweri«3, two 2 11 3 Gillespie's Beach .. .. .. 0 1 9 Goldfields Dredging 0 0 e 0 2 3 Napier Borough 4J p.c, 1960 105 5 0 UNLISTED STOCKS >. M'Intosh, Caley, Phoenix 0 12 0 . The following are yesterday afternoon'a buying and selling quotations, which are subject to the usual . brokerage :— BANKING. Buyer. Seller. £ 8. d. £ s. d. — 11 10 0 New South Wales — 30 10 0 New Zealand .. 2 9 0 — N.Z. (Long D) .. 1 12 0 — Commercial .. 0 16 0 0 16 3 National of N.Z. .. — 3 10 0 6 10 0 — — 8 13 6 INSURANCE. — 1 1 7 New Zealand .. 2 17 9 — South British . — 4 15 0 — 3 12 6 A. P. A. ... .... 0 10 0 — SHIPPING. U.S.S. Co. (pref.) 1 7 0 — MEAT PRESERVING. N.Z. Refrigerating ' i — 0 19 5 N.Z. Refrigerating — 0 9 0 South. Froz. Meat (paid) — 3 18 3 South. Froz. Meat — 1 19 0 LOAN AND AGENCY. Goldsbrough, Mort — 1 8 3 National Mortgage — 3 0 0. National Mortgage (B issue) .. 1 11 0 — Wright, Stephenson —,' 0 19 10 COAL. —.. 1 1 9 Westport-Stockton 0 3 9 — * MISCELLANEOUS. Associated News .. —. 1 3 0 Bruce Woollen (ord.) — 0 14 6 Colonial Sugar .. 40 15 0 — D.I.C. (ord.) 0 14 6 — Dominion. Fertiliser 1, 2 0 — Dominion Fertiliser 105 0 0 — Dominion Rubber 1 11 6 — Dunlop Perdriau — 0 18 9 Milburn Lime 2 2 0 — N!Z. Drug Co. .. 3 18 6 4 0 0 N.Z. Paper Mills — 1 15 0 Regent Theatre .. — 0 19 6 Smith and Smith 0 19'. 6 — Wilsons Cement .. 1 13 3 — Woolworths (Syd- — 4 11 6 BREWERIES N.Z. Breweries .. 2 11 ' i 2 12 3 — 1 9 6 — 0 9 0 GAS. — 1 2 6 OIL. • — 0 3 0 AUSTRALIAN MINING. ■ Electrolytic Zinc — 1 16 0 Electrolytic Zinc (ord.) 1 1 9 1 2 0 Mount Lyell 0 17 6 0 18 0 Upper Watut 0 5 9 0 6 6 MINING. Bell-Hooper .. — 0 0 3 Bell-Kilgour .. .. — 0 0 1 Bendigo Goldlight — 0 0 1U Big River .. •• 0 2 3 0 2 ' 4 Blackwater 1 11 6 — Central Shotover — 0 0 6 Clutha River 0 1 7 — Gillespie's Beach 0 1 8} 0 1 9 Golden Progress .. — 0 1 0 Goldfields Dredging — 0 0 6J — 0 0 4 King Solomon 0 3 7 — Lawson's Flat — 0 0 4 Mahakipawa — 0 0 lit Molyneux River .. 0 1 8 — Mount David — 0 2 6 0 2 3 0 3 0 — 0 7 7 Oxenbridge .. — 0 0 9 — 0 1 2 0 2 3 — Maori Gully .. .. — 0 1 5 GOVERNMENT LOANS. 3| p.c. Stock, 19381943 .. — 107 5 0 Si p.c. Stock, 1939"1943 107 5 0 Si' p.c. Stock, -1941107 5 0 3* p.c. Stock, 1938- — 107 5 0 3J p.c. Stock, 1939- — 107 5 0 31 p.c. Stock, 1941- — 107 5 0 4 p.c. Bonds, Jan. 15, 1940 .... 102 5 0 — 4 p.c. Stock, Jan. 15, 1940 .. •• 102 5 0 4 p.c. Bonds, Feb. 15, 1946 .... 105 15 0 — 4 p.c. Stock, Feb. 15, 1946 .... 105 15 0 - — 4 p e. Bonds, April 15, 1949 .. •• 108 15 0 __ 4 p.c. Stock, April 15, 1949 .. .. 108 15 0 — 4 p c. Bonds, June 15, 1955 .. •• 110 0 0 — 4 p.c. Stock, June 15, 1955 •• •• 110 0 0 -