COMMERCIAL

Timaru Herald, Volume CXXXVII, Issue 19641, 8 November 1933, Page 14

COMMERCIAL

PRICE OF GOLD CURRENT QUOTATION IN LONDON United Press Association—Bv Electric Telegraph—Copyright LONDON, November 6. Gold is quoted at 131/10 an ounce. THE AMERICAN PRI" HIGH PRICE PAID BY TREASURY. United Press Association—Bv Electric Telegraph—Copyright WASHINGTON. November 6. The Treasury paid 32 dollars 84 cents for gold to-day. Movement of Market. The Government’s price of gold continued to make successive advances today, and is quoted at 32.84 dollars an ounce, 17 cents above Saturday’s price, and 38 cents above the London quotation. The pound soared spectacularly and touched 4,93, six cents above the gold standard parity, and closed at 4.90. Although this is undoubtedly due in part to the functioning of the gold policy, exchange experts report a heavy flow of capital from Paris and New York to London. Reconstruction Finance Corporation officials revealed that 2,800,000 dollars of gold were purchased domestically, and “substantial amounts” abroad. Despite the weakness of dollar security, commodity prices generally are lower on the adverse domestic developments. THE DOLLAR. United Press Association—By Electric Telegraph—Copyright LONDON, November 6. The dollar is quoted at 4.87 L THE CANADIAN DOLLAR. REACHES PARITY IN U.S.A. United Press Association—By Electric Telegraph—Copyright NEW YORK, November 6. For the first time since the United Kingdom suspended the gold standard, the Canadian dollar reached parity with the United States dollar on the foreign exchange markets to-day.

SYDNEY STOCK EXCHANGE. United Press Association—By Electric ! Telegraph—Copyright (Received November 7, 9.5 p.m.) SYDNEY, November 7. On the Stock Exchange, the attention of investors was directed to the Melbourne Cup. Business was slack but there was a definite trend towards higher prices in gilt-edgeds as a result of the announcement of a new Commonwealth loan. Another feature of the market was the appearance of sellers of Australian Glass shares at the reduced figure of 51/- without attracting buyers. There is a suggestion that the Government is about to remove the prohibition on imported glass which is affecting the shares. Sales.—Commercial Bank of Sydney £l7/13/-, Commercial Bank of Australia 17/3, National Bank (£lO paid) £l3/12/-, Australian Provincial Assurance 12/-, Colonial Sugar £6l/15/-. Associated News 20/9, pref. 20/9, Adelaide Steam 25/6, Howard Smith 13/-, Burns Philp 55/-, British Tobacco 37/6, Tooheys 24/6, Dunlop Perdriau 18/9, Goldsbrough Mort. 39/-, Millaquin Sugar 28/-, Commonwealth Wool 18/3, United Provisions 8/3, Farmers 17/41. Anthony Hordern 13/-, Broken Hill Proprietary 41/-. North Broken Hill 88/6, Bulolo Gold £5/7/-, Bulolo Deposits 1/11, Kuala Kampar 12/8, Mount Morgan 53/9. YESTERDAY’S SALES. By Telegraph—Press Association AUCKLAND, November 7. Sales on 'Change.—Rural bonds 5 per cent. £95 10s, Stock 1949 4 per cent. j £IOO 15s, 1955 4 per cent. £lO2, Bank of N.Z. 48/-, Pukemiro Coal 19/6 (2), j Leyland O’Brien 20/3, Colonial Sugar s £6l 7s 6d, Electro Zinc (ord.) 27/-, Morris Hedstrom 19/M, N.Z. Paper Mills 27/9 (2), N.Z. Refrigerating (com 9/9, Golconda (Id paid) lOd. Bell Hooper lid, Mount Lyell 23/-, Rawang Tin 7/4. Unofficial list.—Auckland Farmers’ Freezing 14/-, Qamaru Wool 6/3, Were’s (5/- paid) 4/7, Roberts Stabiliser 1/-. DUNEDIN, November 7. Sales on 'Change.—Waihi Grand Junction 4/-, Waitahu 6/5, Bell Kilgour 1/4, Bell Hooper 1/-. Sales reporteef—Bell Kilgour 1 31, New Zealand Refrigerating (cont) 9/11, Waitahu (2) 6/5, Mount David 2/3. FOREIGN EXCHANGES. British Official Wireless RUGBY, November 6. ! Par.

HIGH COMMISSIONER’S REPORT

The Department of Agriculture has received the following message, dated November 4. from the High Commissioner for New Zealand, London:— Tall aw. Market firm. Spot quotations nominally unchanged. Hemp. Manila—Market quiet but steady closing with sellers of * K" grade for November-January shipment £l4 10, -. Sisal—Market easier. No. 1 grade for January-March shipment sold down to £l6/7/6; and for March-May shipment £l6 17 6. Closing values for November-January shipment £l6/5/-. New Zealand—Market unchanged No first hand sales reported. Peas. Maples—Spot trade very quiet, but forward position firmer. No. 1 New Zealand for November-December shipment valued at 43/-; Tasmanian 43 6 New crops—Tasmanian, for JanuaryFebruary shipment, 44/-. Blue—Neglected. Beans. New Zealand—Value for NovemberDecember shipment about 31/- to 32/-, Eggs. English, national, pack, 20 - to 25/-; English, ordinary pack, 21/- to 23/-; Danish, 13/6 to 17 6; Australian, 11/6 to 13/3; New Zealand, 11/- to 13/-. WELLINGTON MEAT EXPORT COMPANY. By Telegraph—Press Association WELLINGTON, November 7. The directors of the Wellington Meat Export Company, in their annual re’ port to September 30, state that aitei providing £BOOO for depreciation then remains a profit of £12.461 14s 4d. This amount has been carried to the credit of the appropriation account, bringing the debit of th&t account down tc £29,207 17s. In view of the debit, re maining in the appropriation account the directors considered it their first duty to strengthen the financial posi tlon of the company, and thus safe guard the shareholders’ capital. On this account they are not recommend ing the payment of a dividend on fcUl preference shares. METALS. United Press Association—By Electric Telegraph—Copyright (Received November 7. 9.5 p.m.) LONDON. November 6. Copper—Standard, spot £32/1/114 forward £32/4/42. Electrolytic—Spot £35/10/-, for war' £36/10/-. American—Eight cents per lb Wire Bars—£36/10-. Lead—Spot £ll/15/-, forward £l2. 2 cj Spelter—Spot £ls/10. -. forward £ls/17/6. Tin Spot £224, 16 3. forwan £224/6/3. Silver—Standard 182 d, forward 19 15-16 d an oz. RUBBER STOCKS. United Press Association—By Electric Telegraph—Copyright LONDON, November 6. Rubber stocks are:—London, 37,170 tons; Liverpool, 52,818 tons. BEET SUGAR. United Press Association—By Electric Telegraph—Copyright LONDON. November 6. Herr Light reports the beet suga production for 12 months at 4,713.07'* tons. ENGLISH WHEAT QUOTATIONS. United Press Association—By Electric Telegraph—Copyright LONDON, November 6. Wheat cargoes have a steadier tone Parcels are in poor demand ar.d unchanged. London futures December 19 8 February 20 04, April 20 6. Liverpool futures December 4 64 March 4/94, May 4/101.

Paris, fr. to £1 .. .. 124.21 80 31-32 New York, dol. to £1 4.866 4.89 Montreal, dol. £1 to 4.866 4.89 Brussels, belgas to £1 35 22. r ,0 Geneva, fr. to £1 ,. 22.2215 16.355 Amsterdam, fl. to £1 12.107 7.855 Milan, lire to £1 3.54 59.0 Berlin, reich to £1 .. 20.43 13.295 Stockholm, kr. to £1 18.159 19.401 Copenhagen, kr. to £1 18.159 22.40 Osio. kr. to £1 .. .. 18.159 19.90 Vienna, schgs to £1 34.585 281 Prague, kr. to £1 Helsingfors, marks to 146.25 1065 £1 193.28 2205 Madrid, pesetas to £1 25.2215 37 27-32 Lisbon, escudos to £1 110 1045 Athens, drach to £1 375 560 Bucharest, lei to £1 Rio de Janeiro, d. to 818.6 530 milreis Buenos Aires, d. to 4.892 4 3-8 dol Monte Video, d. to 45.577 445 dol 51 3 61 Bombay, d. to rupee 19 18 1-32 Shanghai, d. to dol * 15 11-16 Hongkong, d. to dol 175 Yokohama, d. to yen Warsaw, par zylots 24.58 14 15-32 £1 43.36 28 0 Batavia, guilder .. .. 12.107 7.69 ‘Determined by price of silver.