MONEY AND MARKETS

Southland Times, Issue 23610, 10 September 1938, Page 4

MONEY AND MARKETS

BANKING SECTION UNCHANGED ON INVERCARGILL EXCHANGE

Government loans were in poor demand on the Invercargill Stock Exchange yesterday, the inquiry coming solely for the 4 per cent, issues. The banking section remained unchanged, BaxS of New Zealands being at £2 1/6 and National of New Zealand at £2 11/-. Insurance shares were quiet, meat freez ing and coal and woollen companies’ shares were all neglected. Australian industrials were quiet and the market was almost bare of sellers. New Zealand issues were almost neglected. There was an unchanged market for mining companies scrip. A sale of Bank of New Zealand at £2 2/- was reported. T 1 4 !

Quotations were as follows:— GOVERNMENT DEBENTURES

SYDNEY (Received September 9, 10.15 p.m.) SYDNEY. September 9. Business in the investment section o£ the Stock Exchange today was practically at a standstill because of the coal dispute and the troubled state of European politics. 'l'he undertone of the market, however, was firm.

Loloma 1 £ ® Tonkah Harbour 1° <'2 MELBOURNE Investment stocks are still quiet. Barriers are firm on the announcement of a lead cartel. Commonwealth loans are steady, and some interest is being shown in oil prospecting companies.

DAIRY PRODUCE MARKET (Received September 9, 5.5 p.m.) LONDON, September 8. The butter market is slow and cheese is steady. Quotations: —

THE WOOL MARKET BRADFORD TOPS EASIER (Received September 9, 6.30 pan.) LONDON, September 8. The Bradford wool market is easier, with no expansion of business.' Quotations:— Aug. 18 Aug. 25 Sept. 1 Sept. 8

FOREIGN EXCHANGES LONDON, September 8. Par. Sept. 2 Sept. 8

pence to yen 24.58 14 14 •Determined by price of silver. GOVERNMENT SECURITIES ____ > (Received September 9, 6.30 p.m.) LONDON, September 8. The following are the latest quotations for Government securities compared with the prices ruling last week: —

' Buyers Sellers £ s d £ s d Stock, 31 p.c., 101 0 0 193o“j« Stock, 3| p.c., __ ■ 101 0 0 Stock, 4 p.c., 1946 100 0 Bonds, 4 p.c., 1946 100 0 0 0 10110 Stock, 4 p.c., 1949 0 Bonds, 4 p.c., 1949 101 10 0 BANKS 0 16 4 Commercial — ■■ ■ National of New Zealand 2 11 0 31 5 0 New South Wales New Zealand 2 1 6 2 2 6 BREWERIES 2 2 0 N.Z. Breweries COAL Kaitangata 1 6 0 1 5 3 Westport Coal , INSURANCE 0 17 0 o 2 16 LOAN AND AGENCY Wright, Stephenson 1 0 6 (pref.) MEAT COMPANIES N.Z. Refrigerating 0 18 4 — pdlCl/ “ - paid; Southland Frozen Meat 1 10 South Otago Freez3 5 6 o ing Co. SHIPPING Union Steam Ship 1 6 9 P. and O. Stock 1 3 0 WOOLLEN MILLS Bruce 0 5 9 Mosgiel 10 0 0 0 17 o Oamaru MISCELLANEOUS Broken Hill Pty. 2 16 0 2 17 0 G. J. Coles 3 17 9 1 3 6 jj.i.c. ■ 1 5 0 Fertilizcr McLeod Bros.’ Soap Milbum Lime 28 15 0 arid Cement 1 16 6 KT *7 TVtMirf 6 3 10 iv .Zj. urug ■ ■ - 1 3 o iM.Zi. jraper ivuiis ■ Permanent Building Society 5 16 Wilson’s (N.Z.) 0 0 17 3 1 0 3 wooiwonns ■ Woolworths, Ltd. 1 1 3 MINING Broken Hill South 1 10 0 Big River , 0 1 Electrolytic Zinc 0 0 1 3 (ora. y —— Gillespie’s Beach 0 1 0 0 1 2 0 o Croianeias ureaging - - ~ Mount Lyell 1 6 0 1 7 0 Mount Morgans 0 10 11 0 2 o Nokomai Waitahu 0 0 North Broken Hill 2 4 9 0 0 1 0 AUCKLAND £ s d

Stock 1939-43 31/2 p.C. 100 5 0 do. 1938-52 3V 2 P.C. 100 10 0 do. 1939-43 3’,4 p.c. 100 2 6 National Bank of. N.Z. 2 12 0 N.Z. Insurance 2 16 0 Auckland' Gas 1 0 4 Consolidated Brick 7 9' Farmers’ Trading 19 10 G. J. Coles 3 18 0 New Auckland Laundry 19 6 Woolworths (Syd.) 1 0 10 Broken Hill South 1 10 0 North Broken Hill 2 5 0 Rawang Tin 8 0 Unofficial List Auckland Farmers’ Freezing (£1 paid) (odd lot) 1 1 0 Australian Provincial Assurance 8 11 N.Z. Perpetual Forests 1 13 6 WELLINGTON £ S d Commercial Bank (pref.) (Thurs.) 9 6 lO’.i Colonial Sugar (Thurs.) 46 17 6 Taranaki OH (Thurs.) 12 5 G. J. Coles (Thurs.) 3 18 4 Woolworths Ltd. (ord.) (Thurs.) 1 0 11 31.4 p.c. Stock 1939-43 100 5 0 Bank of N.Z. (4) 2 2 0 ‘ Commercial Bank (pref., odd lot) 9 6 9 Dalgety and Co. (odd lot) 8 1 6 N.Z. Breweries (2) 2 0 3 'Broken Hill Propty. 2 16 6 do. 2 16 7 British Tobacco 2 7 iy a G. J. Coles (2) 3 18 3 I.C.I. (pref.) 1 1 8 Woolworths (N.Z.) 19 3 Woolworths Ltd. 1 0 10 Broken Hill South 1 9 9 CHRISTCHURCH £ s d Commercial Bank of Australia 15 10 N.Z. Breweries 2 0 3 Broken Hill Propty. (3) 2 16 6 do. (contr.) (2) 1 18 5 Consolidated Brick 7 6 Dunlop Rubber (cum div.) 1 0 11 Electrolytic Zinc (pref., cum div.) 2 4 9 G. J. Coles 3 18 0 do. 3 17 9 Broken Hill South (cum div.) 1 10 0 do. 1 10 2 Mount Morgan 11 0 North Broken Hill (cum div.) (2) 2 4 3 Sales Reported National Bank of N.Z. 2 12 0 Tooth’s Breweries 2 13 9 Grey River 14 0 Unlisted Stocks Woolworths (W. Aust.) 4 5 3 DUNEDIN Sales Reported £ s d Mount Morgan (Thurs.) 11 1 Bank of N.Z. (2) 2 2 0 Broken Hill Propty. 2 16 9 N.Z. Breweries , 2 0 5 do. 2 0 3 Mount Lyell (2) 1 6 9

Sales: £ B d Commercial Banking of Sydney 20 3 0 Australian Gas (A) 7 6 0 British Tobacco 2 6 9 Toohey’s Brewery 1 11 9 Australian Glass 4 13 3 Dunlop Perdriau Rubber 1 1 3 Stedmans 12 3 Queensland Brewery 1 5 0 Producers and General 5 6 do. (pref.) 13 0 Woolworths 1 0 10/2 Fairymead Sugar 1 11 9 Electrolytic Zinc 2 2 6 Mount Lyell 1 7 1*2 Zinc Corporation 4 10 0 Placer Development 3 lb 0

Sales: £ s d Commercial Bank of Australia 16 0 National Bank (£5 paid) 6 12 6 do. (£10 paid) 13 12 0 British Tobacco 2 7 3 Carlton Brewery 3 3 6 G. J. Coles 3 18 0 Australian Glass 4 13 0 Dunlop Perdriau Rubber 110 Goidsbrough Mort 17 3 Felt and Textiles 1 13 0 Imperial Chemicals (pref.) 119 Electrolytic Zinc 2 5 6 Mount Morgan 11 1 - Mount Lyell 17 1 Broken Hill Propty. 2 16 6 North Broken Hill 2 6 3 South Broken Hill 1 10 9 Emperor 12 10 Loloma 15 0 1 1 ■ LONDON STOCK EXCHANGE .LONDON, September 8. Quotations on the London Stock Exchange include:— £ S d Clutha River Company1 7>/ a Buyers Sellers 1 10>,i Molyneux River Company— . Buyers Sellers 9 1 0

BUTTER Sept. 1 Sept. 8 Danish 134/New Zealand— Choicest salted 123/Unsalted 124/Australian— Choicest salted 120/Unsalted 121/CHEESE 121/New ZealandWhite 73/Coloured Australian73/-. 73/White 70/Coloured 70/70/6

d d d d Merinos— 70's 28 27 2714 64's — 26>,4 2514 25 60’s Crossbreds— — 23 >4 2414 24 58’s 22 2114 21 56’s MW 20 19 1814 50’s MW 17 17 1614 46’s —— *1614 *1614 *1614 40’s •1614 •Nominal. *1614 *1614

Paris, fr. to £1 170 178 19-64 178 5-16 New York, dol. to £1 4.866 4.84% 4.82% Montreal, dol. to £1 4.866 4.85% 4.83% Brussels, Belgas to £1 35 28.69% 28.65 Geneva, fr. to £1 25.2216 21.28% ' 21.32 Amsterdam, fr. to £1 12.107 8.92 3-16 8.92% Milan, lire to £1 92.43 92% 91% Berlin, relchmarken to £1 20.43 12.09% 12.04 Copenhagen, kr. to £ 18.159 22.40 22.40 Stockholm, kr. to £1 18.159 19.39% 19.40 Oslo, kr. to £1 18.159 19.90 19.90 Prague, kr. to £1 154.25 140% 139% Helsingfors. marks to £1 193.23 226% 226% Madrid, pesetas to £1 25.2215 — Lisbon, escudos to £1 110 110 3-16 110 3-16 Athens, drach to £1 375 547% 547% Bucharest, lei to £1 818.60 670 670 Belgrade, dinars 375 3 214 214 Rio de Janeiro, pence to milrels 4.90 2 29-32 2 29-32 Buenos Aires, pence to dol. 51 18.99% 19.07% Montevideo, pence to peso * 20% 20% Bombay, pence to rupee ♦ 17 27-32 17 27-32 Shanghai, pence to rupee * 8% 8% Hong Song, pence to yen ♦ 14 31-32 14 31-32 Yokohama,

Sept.' 1 Sept. 8 £ s d £ s d British— Consols Funding Loan, 4 74 0 0 73 15 0 p.c., 1960-90 113 10 0 112 15 0 War Loan, 3>,i p.c. 102 2 6 101 15 0 Con. Loan, 3'/z p.c. Victory Bonds. 4 101 5 0 101 0 0 p.c. 110 0 0 109 17 6 Commonwealth — 5 p.c., 1945-75 105 15 0 105 7 6 4 p.c., 1943-48 101 10 0 101 6 3 3% p.c., 1948-53 99 17 6 99 0 0 3«/zp.c., 1956-61 90 17 6 90 1 3 3 p.c., 1955-58 New South Wales— 88 7 6 87 12 6 412 p.c., 1930-50 Victoria — 96 10 0 96 11 3 p.c., 1929-49 93 7 6 92 1 3 41a p.c., 1940-60 101 16 3 101 15 0 5 p.c., 1945-75 Queensland — 105 12 6 105 5 0 3 p.c., 1922-47 94 15 0 94 15 1) 5 p.c., 1940-60 South Australia — 101 12 6 100 17 6 5 p.c., 1945-75 105 10 0 105 6 3 3 p.c., 1916 (opt.) Western Australia— 76 2 6 75 18 9 4 p.c., 1942-62 Tasmania— 101 2 6 99 16 3 3>/ 2 p.c., 1920-40 » 101 2 6 101 3 9 4 p.c., 1940-50 New Zealand— 100 7 6 100 5 0 4>,z p.c., 1948-58 100 2 6 99 15 0 3','zp.c., 1940 99 2 6 98 16 3 3 p.C„ 1945 93 0 0 92 5 0