COMMERCE AND FINANCE

Otago Daily Times, Issue 22903, 10 June 1936, Page 14

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS

THE SHARE MARKET DUNEDIN STOCK EXCHANGE There was a considerable amount of business reported on the Dunedin Stock Exchange yesterday, the increase in interest being noticeable after the quiet day experienced on Monday. Three sales of Bank of New Zealands were reported at 12 5s 6d, £2 5s 4d, and £2 6s 3d. the closing buying offer being 12 sb, These prices show a. alight fall on late rates. A buyer was forward for Unions at £9 14s 6d, but sellers were unchanged at £9 ICa. National Insurances were sought at 38s, but there was no response from sellers. A sale was reported of Standards at £3 2s Od, but the issue was not quoted on the afternoon call-over. There was increased interest displayed in the Huddart, Parker issues, a sale of preferred shares being reported at £1 7s, with a closing seller at £1 Bs, Contributing New Zealand Kefrigeratings ehowed an improvement, with buyers forward at 9s fld, but sellers were reticent. A sale was reported late on Monday of preferred Westport-Stocktons at 2s 4d, but, although a closing seller was forward at this figure, buyers would not advance above 2s, Mosgiela were the only shares to attract any interest in the woollen company section, a sale being reported at £9 15s. There was a closing seller at £9 iSs, but there was no response from buyers. Broken Hill Proprietaries experienced another sharp rise. A sale of the ordinary issue was reported at £3 10s 3d, and there was a further buyer at this figure on the last call, no sellers being forward. The contributing issue rose to £2 6s 3d for buyers and £2 7a 6d for sellers, and two sales were reported after the last call at £2 7s. A sale was reported late on Monday of G. J. Coles at £3 19s Del, but the issue was not quoted on the afternoon market. Kauri Timbers also had reported business at £1 3s 3d, without interesting buyers on 'Change. New Zealand Breweries ehowed a further improvement, a buyer being forward at £2 14s, without response from sellers. Two sales were reported in Government Loans, the 4 per cent. 1937-40 Stock changing hands at £lO2 12s fld and the 1943-40 issue at £lO4 ss. In the unlisted section Sydney Woolworths were noticeably easier, with buyers at £5 7s and sellers at £5 lie, but Shillings, Ltdi, shares were firmer at lls 4d and 11 s 6d. SALES REPORTED.

FOREIGN EXCHANGES

(British Official Wireless.) (United Press Association)

. DOLLAR AND FRANC f (United Press Association) (By Electric Telegraph—Copyright) LONDON, June 8. Exchange ou New York is quoted at 4.9!)§ dollars to the £ and on Paris at 75J francs to the £.

ON NEW ZEALAND CURRENCY BASIS

The Bank of New Smith Wales, Dunedin, quoted the following rates for purchases and sales of foreign exchange yesterday:—

DOLLAR RATES The Associated Banks (other than the Dank of New South Wales) quoted the following dollar rates yesterday on a New Zealand currency basis. They are subject to alteration without nutice. (J.S.A. Canada. (Per £1 (Per £1 N.Z.) N.Z.) Selling— Dols. Dols. T.T. 4.002 4,02 O.D 4.012 4.024 Buying— O.D 4.05 § 4.07 FOREIGN EXCHANGE MARKET United Press Association) (By Electric Telegraph—Copyright) LONDON, .Tune 8. The effects of M. Blum’s declaration and policy were apparent on the foreign exchange market to-day. when there was a marked rally of the French franc, and other Continental gold currencies strengthened in sympathy. The closing three months’ forward rate for the French franc, at a Gi per cent, discount, showed a small improvement. The price of gold has recovered by Is Old since last Thursday. LONDON WHEAT MARKET (United Press Association) (By Electric Telegraph—Copyright) • LONDON, June 8. Wheat.—Cargoes are dull and cheaper. Parcels are mostly 3d to Od lower. Futures: London—July, 20s; November, 25s Hd. Liverpool—July, 5s 7id; October, 5s December, 5s ojjd. Chicago quotations: July, 84J cents per bushel; September, December, 86 1. BRADFORD TOPS MARKET (United Press Association) (By Electric Telegraph—Copyright) LONDON, June 8. The Bradford market is steady, with rather more yarn trade from Germany. GORDON AND GOTCH HIGHER PROFIT AND DIVIDEND. Gordon and Golch (Australasia), Ltd., earned a net profit, after allowing for taxation, of £37,592 for the halt-year ended March 31, compared witii £33,548 (be previous half-year, and £31,059 for the six months ended March 31. 1035. Dividend of 8 per cent, per annum on preference shares requires £4OOO, and of 12 per cent, per annum on ordinary shares £30.000. The last distribution was 10 per cent, per annum. A sum of £6OOO is transferred to reserve for contingencies, against £4OOO the previous half-year, and with £28,772 brought forward, £26,365 is carried forward. The balance sheet movements are toward greater liquidity on the year. Creditors, at £104,921, are £19.513 lees on the year, and £0857 less on the halfyear. Stock, at £158,772, has fallen by £27.848 over the year, and £8322 since last September. Sundry debtors, at £241,069. are £5583 higher on the. year, but £8893 loss on the half-year. Despite an increase in investments of £13,414 on both the year and half-year, cash at £48,617 has increased by £8217 and £7707 over a year and six months respectively.

f s. d. Bank of New Zealand .. .. 2 5 0 2 5 3 2 5 4 Standard Insurance 3 2 6 Huddart, Parker (pref.) 1 7 0 Westport - Stockton (pref.; 0 4 late Mon.) 2 Mosgiel Woollens 9 15 0 Broken Hill Propy 3 10 3 0 G. J. Coles (late Mon.) .. 3 19 Kauri Timber .. 1 3 3 6 4 n.o, Stock, 1937-40 .. .. 102 12 4 p.c. Stock, 1943-40 104 5 0 SALES REPORTED AFTER LAST CALL. Broken Hill Propy. (cont.; 0 . ... 2 7 Tbe following are yesterday afternoon’s buying and selling quotations, which are subject to the usual brokerage: — BANKING. Buyer. Seller d. i £ 0. d. £ 6. N.S.W. 32 5 0 33 0 0 N.Z. .. ... ... .. tt2 5 0 2 5 6 E.S. and A. .. 6 3 0 — Natl, of N.Z. .. — ■ ■ 15 0 9 16 0 INSURANCE. National 0 18 0 —• SHIPPING. Huddart, Parker 16 (ord.). — 1 0 Huddart, Parker 8 0 (pref.) — 1 P. and 0. Def. Stock 12 0 1 3 9 U.S.S. Co. (pref.) 1 5 9 — MEAT PRESERVING. N.Z. Refrig. (cont.) 0 9 6 -— South. Proz. Meat South. Ifroz. Meat 3 17 6 (pref.) — 3 17 6 South Otago.Ireezing .. .. “ 7 15 0 LOAN AND AGENCY. N.Z, Loan and M. (ord.) ... .. 30 0 0 N.Z. Guarantee — Perpetual Trustees — 3 5 0 Wright, Stephenson 0 (pref.) — 1 0 COAL. Kaltangata .... — I 4 G 0 Westport 1 1 3 1 2 Westport-Stockton 0 (Ptef.) 0 2 0 Pukemiro 1 3 u 2 4 WOOLLEN COMPANIES. Mofigiel .. .... — 9 18 0 MISCELLANEOUS. Associated News .. 12 3 —* Australian Glass ff4 10 0 —■ Broken Hill Propy. 3 10 3 — Broken Hill Propy. (cont.) 2 6 3 2 7 6 Brown, Ewing (pref.) 12 3 42 —r 0 Colonial Sugar .. — 0 D.I.C, (ord.) .... 0 16 0 — D.I.C. (pref.) ., 13 4 1 — Dominion Fertiliser 14 6 5 6

Dunedin-Kaikorai T rarng 2 1 0 2 5 0 Millnim Lime — 2 2 6 Natnl. Electric .. — 0 12 6 N.Z. Drug Co. .. 4 0 0 4 1 0 Farmers’ Fertiliser 1 1 3 1 1 9 N.Z. Newspapers .. Regent Theatre .. — 2 3 0 —’*•11 0 Hume Pipe .. .• 0 19 6 0 10 9 BREWERIES. N.Z. Breweries .. ff2 14 0 — Dunedin 1 11 0 AUSTRALIAN MINING. Electro. Zinc (ord.) 1 17 0 — Mount Lyell .. .. tfl 4 0 1 4 8 MINING. Big River .. .. 0 1 10J 0 2 1 Brian Bora .. .. ’ 0 0 4 Clutha River 0 1 10 — Gillespie’s Beach 0 1 0 — Golden Dawn 0 3 3 — Molynelix- River .. — 0 2 3 Martha — 1 0 0 Mount David .. .. ■ . 0 1 0 Nokomai 0 2 3 0 2 9 Okarito 0 3 0 0 3 9 Paddy’s Point — 0 3 9 Skippers .. .. .. Waipapa Beach 0 0 3 0 0 0 1 4 2 A Waitahu 0 2 0 0 2 0 GOVERNMENT LOANS. 3J Stock, Nov., 1938-52 — 103 10 0 3J Stock, March, 1939-43 102 10 0 —- 3i . Stock, Sept., 1939-43 102 10 0 — 3i Stock, May, 1939-52 102 0 0 — Stock, March, 1941-43 102 5 0 — 3-J Stock, Sept., 1941-43 102 5 0 — 3J Stock, May, 1941-52 102 5 0 — 3i Stock, Nov., 1941-52 102 5 0 — 4 Bonds, 1937-40 .. 102 10 0 — 4 Stock, 1037-40 .. 102 5 0 102 15 0 4 Bonds, 1943-40 ., 104 0 0 —- 4 Stock, 1943-40 ., 104 0 0 . 4 Bonds, 1940-49 104 0 0 •— 4 Stock, 1940-49 ,. 104 0 0 — 4 Bonds, 1952-55 .. 106 0 0 — 4 Stock, 1952-55 .. 106 0 0 106 15 0 UNLISTED STOCKS. Mackintosh Caley Phoenix 0 9 0 0 11 0 Wool worths (Syd.) 5 7 0 5 11 0 Shillings, Ltd. 0 11 4 0 11 6 **Ex dividend. t+Cum dividend. DIVIDENDS PAYABLE. The following is i a list of shares on which dividends will shortly be payable: — Trustees, Executors — final, 5 per cent., making 8 per cent. for year June 10 N.Z. Breweries—half-yearly, 7i per cent, per annum, 9 3-5d a share June 11 Bank of N.Z.—final, la a share. or 10 per cent, per annum .. June 12 Waihi Junction—4d a share .. Juno 12 Perpetual Trustees—final, Is a Broken Hill South —2 s 0d a share . June 13 British Tobacco—13 per cent. June 13 Oamaru Woollen Mills — halfyearly, per i cent., 6d a share June 15 Mortgage Corporation—4J per cent, per annum National Timber —final, 2J per June lo June 15 cent Gisborne Gas—3d per share .. June 17 Hume Steel—half-yearly prof., at 7J per cent, per annum .. June 20 Claude Neon Lights — halfyearly 8 per cent, per annum. 9 3-6d a share . June 21Mount Lyell—half-yearly, 5 per cent., 8d a share June 23 Farmers’ Trading Company, Auckland—final, ■ ord. 5 per cent. June 25 Australian Glass - — final, 4J per cent, pref., : 10 per cent. June 27 Morris. Hedstrom — final, 21 per cent., making 5 per cent, per June JO Tooths Brewery—10 per cent,, Is a share .. . National Mortgage—5 per cent. July 1 nor annum .. .. Zinc Corporation's a share .. July i Bulolo—interim, 1 dollar 40 cents July 2 Placer —interim, SO cents .. ,. July National Bank N.Z;—final 2 per cent., in sterling, free of July tax —

NORTHERN EXCHANGES AUCKLAND Sales on ’Change Stock, 15/0/55, 4 p.c 106 5 0 Piako, 1/3/47, 0 p.c 104 0 0 Amalgamated Brick (Auck.), 0 1/3/44, 74 p.c 101 0 National Insurance (2) I) 18 o. N.Z. Insurance 3 3 6 South British .. . • • • 4 10 0 United Building (Auck.) .. 1 0 6 Dominion Breweries .. .. 1 3 9 Tooth’s Breweries . • • • 12 0 Broken Hill Pty. .. •• 3 9 9 10 9 0 3 3 10 3 3 11 0 Broken Hill Pty. (10 s pd.) 2 6 10 Argo 0 1 10 Golden Crown 0 9 9 0 9 7 Skippers •• •• 0 0 33 Martha 0 10 4 Mount Morgan (2) .. .. 0 14 3 , Unlisted Stocks Cr an wells • • 1 19 0 Dominion Breweries (pref.) 1 5 0 Sc!fridges (Aus.: new issue; 2) 1 3 3 Woolworths (Syd.; 2) 5 9 0 WELLINGTON Sales on ’Change luscr. Stock, 34 p.c., 1030-43 103 0 (late Monday) . • • ■ ■ • • 0 Christchurch Gas (late 13 Monday) .. 1 3 Wilsons (N.Z.) Cement (late Monday) • • 2 3 6 Australian Glass (late Mon12 0 6 0 day) • • G. J. Coles (late Monday) .. 4 4 Goldsbrough. Mort (odd lot; 12 late Monday) 1 4 Stock. 34 p.c.. 1038-52 .. .. 103 0 0 Goldsbrough, Mort .. .. 1 12 4 N.Z. Guarantee Corp. (3) .. 0 5 18 0 National Insurance .. . ■ 0 1 South British Insurance 4 10 6 Kaiapoi Woollen (ord.) .. 0 15 6 Broken Hill Pty, (cont.) 2 b 8 G. J. Coles 3 19 9 Hume Pipe 0 19 7 Unlisted Stocks Shillings, Ltd. (late Mon11 0 dav) • • 0 Woolworths (Sydney: late 8 Monday) 5 0 Sclfridgcs. Ltd (new issue) 1 3 0 CHRISTCHURCH Sales on 'Change Waimumu Sluicing 0 0 64 Alexander Mines (IBs paid; 0 14 0 2) Wilcox MofTlin .. «. o• 0 11 3 Golden Point 0 0 1 Mount Lyell (cum div.) 1 4 3 N.Z, Govt. 4 p.c. I user., 104 6 1943-46 (2) 104 0 0 Commercial Bank of Aust. .. 0 19 3 Goldsbrough, Mort (cum div.) 1 12 3 N.Z. Guarantee Corporation .. 0 5 0 N.Z. Breweries (cum div.; S) 2 14 1 Amalgamated Wireless (cont.) i 15 0 Australian Glass (cum div.) 4 12 0 Broken Hill Pty. (2) .. .. 3 10 3 G. J. Coles 3 10 6 3 19 7 Hume Pipe (Aust.) .. 0 JO 7 0 19 b 0 10 5 Kauri Timber (3) 1 3 2

Sales Reported Argo Gold (Into sale 8th; 2) 0 1 9 Wnimumu Sluicing .. .. 0 0 C§ N.Z. Government 4 per cent. Inscribed, 1937-40 102 12 6 N.Z. Government 4 per cent. Inscribed, 1043-46 104 5 0 Commercial Rank of Aust. 0 19 4 Huddart. Parker (pref.) 1 7 0 Mosgiel Woollen (odd lot) .. 9 13 0 N.Z. Breweries (cm\i div.; 2) 2 14 1 Australian Glass (cum div.; 2) 4 12 0 Broken Hill Pty 3 10 3 Broken Hill Pty. (cont.) 2 6 0 2 6 5 Hume Pipe (Aust.) 0 19 7 Bank of New Zealand (cum div.; 2) 2 3 6 Unlisted Stocks Sclfridgcs (Australasia: new; 2) 1 3 3 I 3 4 1 4 11 1 i) 0 1 4 10 Shilling, Ltd. (7s Gd paid) .. 0 11 3 Sales Reported Selfridges (Australasia; new) 1 3 9 1 4 11 1 3 6 1 3 10 ], 4 3 1 5 0 Sclfridges (Australasia; old) 1 4 6 1 4 3 (2) 1 5 6 Woolworths (W. Aust.; ex • rights) 5 8 6 Shillings, Ltd. (7s 6d paid; 3) 0 11 4 AUSTRALIAN STOCK EXCHANGES (United Press Association) (By Electric Telegraph—Copyright) SYDNEY, June 10. (Received June 10, at 10.30 p.m.) strength was the keynote of business in industrial shares on ’Change to-day, and fresh, sharp gains wore registered in Broken Hill Proprietary scrip. Retail stores were solidly supported. but cement. shares were easier. Bonds ami haul; shares received only limited attention. THE MORNING SALES. £ 8. d. Commonwealth Bonds— 4 per cent., 1947 .. .. .. 101 12 G 4 per cent., 1047 100 13 9 4 per cent,, 1961 101 5 0 Tooths 2 12 6 Associated News (prof.) .. 1 3 0 Australian Glass 4 12 3 British Tobacco 2 1 0 Broken Hill Proprietary .. 3 10 9 Colonial Sugar 41 17 0 Hemy Jones James Stcdman 2 1 3 0 18 0 1 0 0 Millaquin Sugar 2 1 6 ADDITIONAL SALES. Bank of New South Wales .. 32 12 6 Bank of Australasia 12 0 0 Colonial Sugar 41 17 6 ] 2 9 (prof.) 1 3 0 Howard Smith 0 10 3 3 12 0 Australian 6as (A) 7 10 0 British Tobacco 2 1 0 Tooths 2 12 6 O. J. Coles 4 0 0 Australian Iron and Steel (pref.) 1 r> 44 Australian Glass 4 13 0 Dunlop Perdriau 0 17 44 1 12 71 0 11 4 Henry Jones 2 1 3 Millaquin Sugar 2 2 0 EairymOad Sugar 2 7 0 Anthony Hordern 0 18 10J 1 C 0 Standard Cement 0 10 6 Australian Drug 0 14 C 1 7 101 Gibson and Howes 1 7 3 Mark Eoy 1 7 3 Sargents 1 6 0 Sargents (New Zealand dc1 livery) G V. 0 14 V Broken Hill Proprietary .. 3 12 9 (new) 2 10 6 South Broken Hill 5 12 0 North Broken Hill .. 8 4 0 0 10 3 0 18 6 0 13 I Lacfy Bhonton 0 4 4 Commonwealth Bonds— 0 4 per cent., 1938 102 15 4 per cent., 1941 102 6 4 per cent., 1944' ., .... 101 12 6 4 per cent.. 1947 ., .. .. 101 12 6 102 5 0 4 per cent., 1953 .. .. .. 102 2 6 4 per cent., 1955 102 13 9 4 per cent.. 1957 100 16 3 4 per cent., 1959 101 10 0 4 per cent., 1901 101 12 G MELBOURNE, June ). Commercial Bank /of Australia J 0 19 0 National Bank (£5 paid) .. 7 6 0 Metropolitan Gas 14 3 0 J. C. Williamson (pref.) .. 1 t) 3 British Tobacco 1 3 Broken Hill Proprietary .. 3 12 0 Emperor • 0 13 i Loloma 0 18 0

(By Electric Telegraph—Copyright) RUGBY. June 8. Paris— Par •Tune C. .tune 8. Francs to £ 1 124.21 70 13-G4 75 51-64 Brussels — 29.54 Bclgas to £1 30 20.66 Oslo— 19.00} Kroner to £1 18.180 10.90} Stockholm — 19.39} Kroner to £1 18.130 19.39} Copenhagen— 22 22 Kroner to £1 18.150 Berlin— 12.45} 12.40} Marks to £1 20.34 Montreal — 5.003 5.01} Dollars to £1 4.86 2-3 New York— 0.01 11-10 4.90 15-10 Dollars to £1 4.86 2-3 Yokohama— 14 5-32 Pence to yen 24.582 14 3-32 Hongkong— 133 13| Pence to dollar ■ 24.58 Bombay— 1 13} IS} Pence«to rupee —. ' Batavia— 7.36} 7.36} Florins to £1 12.10 Milan— Lire to £1 82.40 63% 63 15-16 Amsterdam— 7.41} 7.39 Guilder to £1 12.107 Prague— Kroner to £ 1 104} 121% 120i Geneva — 15.53} 15.43 Francs to £1 25.22} Vienna— Schillings to 263 £1 .. 84.80} 2BJ Helsingfors— 227 227 Marks to £1 103.23 Madrid— Pesetas to £1 25.22} 36 13-10 30 17-32 Belgrade— 25.22} 221 220 Dinars to £1 Athens— Drachma to 535 535 £ I .. .. 375 Lisbon— Escudos to 110 £1 .. .. 110 110 Bucharest— 077 Lei to £1 .. 931.8 677 Rio de JanloroPcnce to 4i miirels .. 5.890 4i Buenos Aires— 36 Pence to pesos 47.22 30 Shanghai— 14 13-32 Pence to tael _ 12 13-32 Montevideo— 383 39} Pence to pesos — Warsaw— 26.25 Zlotys to £1 — 26.25

London— Buying. Selling £1 N.Z. to £100 T.T. 124 124/10/O.D. 123/10/124/8/9 Australia — £ A to £100 N.Z. T.T. 101 100/10/O.D. 101 100/10/-l-'IJl- £ F to £ 100 N.Z, T.T. 00/7/0 88 O.D 80/7/0 88 New York— Dollars to fi N.Z. T.T. 4.04% 4.001 O.D. 4.0ns 4.01% Montreal— Dollars to £ N.Z. T.T. 4.03J 4.02 O.D. 4.003 4.021 Austria— Schillings to £ N.Z T.T. 21.02 O.D. , — 21.04 Belgium— Deigns to £ N.Z. T.T. 23.589 O.D. — 23.010 Czechoslovakia— Crowns to £ N.Z. T.T. 90.75 O.D — 90.80 Denmark— Kroner to £ N.Z. T.T. ' 18.203 17.893 O.D. 18.203 17,803 France— Francs to £ N.Z. f.T. 00.04 O.D. — 00.08 Germany— (tclchsraarks to £ N.Z T.T. 0.902 O.D. — 9.907 Holland— Florins to £ N.Z. T.T. 6.892 0 I). —• 5.890 Italy— Lire to £ N.Z. T.T. _ Oil. — — Java— Florins to £ N.Z. r.T. 0.841 O.D. — 5.843 Norway— Kroner to £ N.Z. T.T. 10.183 13.893 O.D. 1 10.243 15.903 Sweden— Kroner to £ N.Z. T.T. 15.785 15,490 O.D. 10.845 15.500 Switzerland— Francs to £ N.Z. T.T. _ 12.299 O.D. — 12.304 Noumea— Francs to £ N.Z. T.T. 59.27 O.D. — 59.33 Papeete— Francs to £ N.Z. T.T. __ 59.42 O.U 59.48 Hongkong— N.Z. Pence to I Dollar .. .. T.T. 18 15-32 19 31-32 O.U. 18-% 10 15-10 India and Ceylon— N.Z. Pence to 1 Rupee .. .. T.T. 22 9-04 22 57-64 Japan— N.Z. Pence to 1 Yen .. O.D 22 3-04 22% T.T. 17 21-32 O.D _ 17 41-64 Shanghai— • N.Z. Pence to 1 Dollar .. .. T.T. 17 5-32 18 17-32 O.D. 10 31-32 18 33-04 Singapore— N.Z. Pence to I Dollar .. T.T. 34 27-04 35 31-04 O.D. 34 15-04 3S 15-32 All rates subject to alteration without notice.