COMMERCIAL

Southland Times, Issue 22733, 8 November 1935, Page 3

COMMERCIAL

MOUNT LYELL COMPANY. DIVIDEND OF SIXPENCE. PROFITS OTHER THAN MINING. (Per United Press Association.) Wellington, November 7. The Mount Lyell Mining Company has advised the Stock Exchange Association that a dividend of 6d (Australian currency), has been declared out of the profits resulting from operations other than mining for the year ended September 30; the dividend is payable on December 16. The year’s net profits amount to £65,912, after writing off £61,672 for prospecting development and depreciation and £5012 for taxation. SYDNEY STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. (United Press Assn.—Telegraph Copyright.) (Rec. 9.45 p.m.) Sydney, November 7. On the Stock Exchange to-day good support was again, forthcoming for Bank of New South Wales and Commercial Bank of Sydney shares, but the recent upward trend in leading industrial shares was checked. The mining section displayed an improved tone.

SYDNEY WOOL SALES. NEW RECORD PRICE. (United Press Assn.—Telegraph Copyright.) (Rec. 10.20 p.m.) Sydney, November 7. At the wool sales 12,399 bales were offered and 11,598 sold, 1512 being disposed of privately. The Continent, Yorkshire and Japan provided very strong competition, resulting in a new Sydney record of 25}d. for greasy Merino. SYDNEY PRODUCE MARKETS. (United Press Assn.—Telegraph Copyright.) (Rec. 10.15 p.m.) Sydney, November 7. Wheat. —Country sidings, 2/11 for bagged and 2/10 for bulk, equal to about 3/6 and 3/6} ex trucks, Sydney. Flour.—£ll 7/6. Bran and pollard.—£s 10/-. Potatoes.—Tasmania, £10; local new, £7;.others, £9 10/-. Maize. —Yellow and white, 5/-. ADELAIDE QUOTATIONS. (United Press Assn.—Telegraph Copyright.) (Rec. 10.15 p.m.) Adelaide, November 7. Wheat.—Growers’ lots, 3/4. Flour.—Bakers’ lots, £ll 17/6. Bran. —£5 7/6. Pollard.—£s 12/6. Oats.—Algerian, 1/10; barley, 2/2. COLOMBO TEA SALE. Messrs J. Rattray and Son, Ltd., Invercargill, advise having received the following cabled report of the tea auction held in Colombo on Tuesday, sth instant: Medium and fine teas unchanged with strong demand. Common kinds irregular following poorer quality with decline of }d per lb. Quantity li million pounds. RETAIL PRICES OF NEW ZEALAND MEAT IN LONDON. The New Zealand Meat Producers Board has been advised by its London manager, that the following retail prices were being quoted for New Zealand lamb and mutton retailed in London during October, 1935. These prices represent a fair average of the prices quoted by the better class shops in London for the best quality of New Zealand lamb and mutton: — New Zealand Lamb: Legs, lljd; shoulders, 10}d; loins, 10}d; necks, 6d; breasts, 3d; forequarters, 7}d; hindquarters, 10}d. New Zealand Mutton (Wethers). — Legs, 9d; shoulders, 8d; loins, 7}d; necks, 3d; breasts, 2d. DAIRY PRODUCE. Messrs A. H. Turnbull and Co., Ltd., advise having received a cable from their principals, Messrs W. Weddel and Co., Ltd., dated London , sth instant, reading as follows: “Danish butter, 123/- per cwt; N.Z. Finest, 103/- per cwt; Kangaroo, 102/- per cwt. N.Z. cheese, white and coloured, 52/- per cwt. Butter and cheese markets weak owing to slow demand.” BRITISH WHEAT QUOTATIONS. (United Press Assn.—Telegraph Copyright.) London, November 6. Wheat cargoes are dull. Canadians are obtainable at 3d less, while Australians and La Platas show 3d to 6d decline, but buyers continue a hand-to-mouth policy and there is little business. Parcels are mostly 4}d to 6d easier. Manitobas and other descriptions are obtainable about late rates to 3d decline. Futures —London, February 25/-, April 24/10}; Liverpool, December 6/I}, March 5/9g, May 5/8} per cental. PRICE OF GOLD. (United Press Assn.—Telegraph Copyright.) Loridon, November 6. The price of gold is quoted at £7 1/4} per ounce.

FOREIGN EXCHANGES. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, November 6. The following mean closing rates of foreign exchanges were quoted to-day

ON NEW ZEALAND CURRENCY BASIS. The Bank ot New South Wales quoted the tollowing rates tor its purchases and sales on overseas currencies yesterday (all rates subjected to alteration without notice):—

NEW CAPITAL ISSUES. INCREASE IN BRITAIN. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, November 6. For the first 10 months of this year new capital issues totalled £159,000,000 compared with £124,000,000, £113,000,000 and £98,000,000 respectively for the corresponding periods of 1934, 1933 and 1932. METAL QUOTATIONS. (United Press Assn.—Telegraph Copyright.) (Rec. 9.45 p.m.) London, November 6. Metal quotations are as follows:— Nov. 5. Nov. 6.

THE DOLLAR AND THE FRANC. (United Press Assn.—Telegraph Copyright.) » London, November 6. The dollar is quoted at 4.92} and the franc at 74 11-16 to the £ sterling. LONDON SHARE QUOTATION. (United Press Assn—Telegraph Copyright.) London, November 6. New Guinea —5/-.

Sales:— £ s d Bank of New South Wales 33 10 0 Bank of New South Wales (New Zealand delivery) 33 10 0 Commercial Bank of Sydney 18 0 0 New Zealand Government Debentures (4 per cent., January 1, 1940) 101 10 0 New Zealand Insurance 3 3 0 United Insurance (ex dividend) 12 0 0 Colonial Sugar (ex dividend) 42 5 0 Associated Newspapers 1 4 9 Associated Newspapers (pref.) 1 4 3 Australian Provincial Assurance 1 0 3 Cumberland Paper 1 13 6 D. Mitchell 4 0 J. Stedman 17 6 Peters 2 1 9 United Provisions 13 1 Beard Watson 17 3 Howard Smith 19 0 Standard Cement 1 2 0 Mark Foy 1 2 3 Meggitts 1 2 6 Wunderlich 1 0 6 Wilcox Mofflin 10 4 Goodlet and Smith 1 2 6 John McGrath 1 14 6 David Jones 2 0 3 Morris Hedstrom 1 4 0 British Tobacco 2 0 3 Tooth’s 2 19 9 Australian Iron and Steel (pref.) 1 5 0 Mt. Lyell 1 1 9 Mt. Morgan 1 17 101 Rawang 8 11 Loloma 2 0 0 Melbourne Sales. Bank of New South Wales 33 0 0 G. J. Coles 3 5 6 Commercial Bank of Australia 16 8 Metropolitan Gas 14 0 0 Electrolytic Zinc 1 15 101Dunlop Perdriau 16 11 Hoyts (A pref.) 19 1 Herald and Times 3 4 0 Zinc Corporation 3 12 6 North Broken Hill 8 11 0 Mt. Lyell 1 1 6 Emperor 1 2 41 Loloma 2 0 0 Enterprise 4 0 0

compared with par:— Par. To-day. Paris, fr. to £ 124.21 74 43-64 New York, dol. to £ 4.886 4.9115-16 Montreal, dol. to £ 4.886 4.97A Brussels, belgas to J : 35 29.13 • Geneva, fr. to £ 25.221 15.13 Amsterdam, fl. to £ 12.107 7.24£ Milan, lira to £ 20.43 601 Berlin, rmk. to £ 24.42 12.231 Stockholm, kr. to £ 18.156 19.391 Copenhagen, kr. to £ 18.159 23.392' Oslo, kr. to £ 19.159 19.092' Vienna, schgs. to £ 34.535 26 Prague, kr. to £ 164.25 118 Helsingfors, m. to £ 193.23 226.1 Madrid, pesetas to £ 25.2215 36 1-16 Lisbon, escudos to £ 110 nog Athens, dr. to £ 875 512 Bucharest, lei to £ 818.6 624 Belgrade, dinars 275.31 215 Rio de Janeiro, p. to milreis 8.982 4J Buenos Aires, p. to dol. 45.577 15 Montevideo, p. to dol. 57 39 11-16 Bombay, p. to rupee 10 18J Shanghai, p. to dol. —— 14 9-16 Hong Kong, p. to dol. 18 9-32 Yokohama, p. to yen 24.57 14 3-32 Batavia — 7.211 Warsaw — 26.06

New Zealand on Buying Selling London — £N.Z. to £100stg. 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/Fiji— £F to £100 N.Z. T.T. 90/7/6 89 O.D. 90/7/6 89 New York— 3.98 3.94 Dollars to £1 N.Z. T.T. O.D. 3.9954 3.94'/a Montreal — 8 3.98 3-8 Dollars to £1 N.Z. T.T. 4.02 1O.D. 4.03 38 3.98 7-8 France — 60.54 59.34 Francs to £1 N.Z. T.T. O.D. 60.94 59.39 Noumea — 61.59 58.59 Francs to £1 N.Z. T.T. O.D. 61.99 58.64 Papeete— 61.59 58.59 Francs to £1 N.Z. T.T. O.D. 61.99 58.64 Belgium— Belgas to £1 N.Z. T.T. O.D. 23.099 23.114 Germany— Reichmarks to £1 9.626 N.Z. T.T. — O.D. —— 9.631 Italy— Lire to £1 . N.Z. T.T. 48.04 O.D. —— 48.08 Switzerland — 12.383 11.983 Francs to £1 N.Z. T.T. O.D. 12.458 11.993 Holland— 5.956 5.706 Florins to £1 N.Z. T.T. O.D. 6.006 5.710 Java — Florins to £1 N.Z. T.T. 5.907 ' 5.682 O.D. 5.957 5.686 Japan— N.Z. pence to yen 1 T.T. O.D. — 17 11-16 17 43-64 Shanghai— N.Z. pence to dollar 1 T.T. 17 9-16 18 7-8 O.D. 17 7-16 18 13-16 India and Ceylon— N.Z. pence to rupee 1 T.T. O.D. 22 3-8 22’/* 22 23-32 22 21-32 Hong Kong— N.Z. pence to dollar 1 T.T. 22 11-31 2 23 13-32 O.D. 22 7-32 23 11 32 Singapore— N.Z. pence to dollar 1 T.T. 34 3-8 35 5-16 O.D. 34’A 35 ’/* Sweden— 15.790 15.460 Kroner to £1 N.Z. T.T. O.D. 15.830 15.470 Norway— Kroner to £1 N.Z. T.T. 16.201 15.871 O.D. 16.241 15-881 Denmark— 18.208 17.878 Kroner to £1 N.Z. r.T. O.D. 18.248 17.888 Austria — Schillings to J Cl 20.68 N.Z. T.T. —— O.D. 20.70 Czechoslovakia— 95.17 Crowns to £1 N.Z. T.T. —— O.D. — 95.22

£ s d £ s d Copper— Standard spot 35 0 74 35 10 0 Forward 35 10 74 35 16 10i Electrolytic 39 15 0 40 0 0 to 40 5 0 40 10 0 Wire Bar 40 5 0 40 10 0 Lead— Spot 17 12 6 18 0 0 Forward 17 12 6 18 0 0 Spelter— Spot 16 2 6 16 6 3 Forward 16 7 6 16 12 6 TinSpot 224 10 0 225 5 0 Forward 212 12 6 213 2 6 Silver — Fine, per oz. 29 5-16d 29 5-16d Standard, per oz. 31gd 31gd