BUSINESS and FINANCE

Star (Christchurch), Volume LXVI, Issue 20341, 26 June 1934, Page 9

BUSINESS and FINANCE

REVIEW OF COMMERCIAL AFFAIRS

ON "CHANGE. To-day’s Market Tone is Quiet. WESTPORT COAL IMPROVES. There was little briskness on the Christchurch share market this morning-, but a good list of sales was put through, and values on the whole were fairly steady. A. small parcel of Booth Macdonald’s debentures improved £2 with a sale at £72. In the Banking class Commercials were a shade better with buyers at 16s Id. New Zealands were again weak with sellers at £2 Ss 6d and no buyers. ICew Zealand Breweries were in demand at 42s Id, but sellers, with a dividend payment due shortly, wefe inclined to hold off. Westport Coals, which had been good j buying of late, moved up to 18s. Kauri Timbers eased 3d with a sale at 16s 6d. Colonial Sugars continued to rule high, between £65 10s and £66 15s, while Wilson’s Cements were scarcely so strong, the variation ranging from 27s to 29s 3d. In the mining section Golden Points, after several quiet days, had fair business at the low price of 2d. Sales Completed. APTERNOON CALL MONDAY. £a]es on ’Change—--100 Goldsbrough Mort (cum div.), 31s. 100 Tooth’s Brewery, 42s (2). 200 Dunlop Rubber, 17« lid (2). 100 Kauri Timber. 16s Sd. 80.0 Mahakipawa, lOd (2). 300 Mount Lyell, 20s 7d (2). 200 Nokomai, 3s. 1000 Skippers, BJd (2). Sales Reported—--10 Commercial Bank of Sydney, £l7. 100 X.Z. \ Refrigerating (£1 paid), 19s 4d. 500 Mahakipawa, lOd. 500 _ Mount Lyell, 20s Bd. THIS MORNING’S CALL. Sales on 'Change— \ £IOO Booth Macdonald, 6J per cent, 1937. £72. 100 Goldsbrough Mort, 31s (cum div.). 100 Westport Coal, 18e. 60 Broken Hill Propty, 4 3s 9d. 100 Kauri 'timber, 16s 6d. 4000 Golden Point, 2d (6). 50 Mount Lyell, 20s 7d.‘ 500 Waitahu, 4s (2). Sales Reported—•B Bank of Xew South Wales (late sale, 25th), £3O 12s 6d. 400 Mahakipawa (pref.), 1930 issue. Is 3d. TO-DAY’S QUOTATIONS. Buyers. Sellers.

CALL AND DIVIDEND LIST. DIVIDENDS. Due. Goldsbrough Mort—6 p.c June 27 Australian Glass—Final, pref., 4J p.c.; ord., 5 p.c June 27 North Broken Hill—l/6 a share June 29 Morris, Hedstrom—Final. 2 p.c. June 30 British Tobacco Quarterly, ord., 1£ p.c June 30 Blackwater—Final. 1/6 a share June 30 Consolidated Gold—lnterim, 9d a share June 30 His Majesty’s Theatre Arcade —lnterim 61 p.c. p.a. on pref. (less 20 p.c.), 5 p.c. p.a. on ord. shares - • July 1 Queensland Insurance—lnterim, 5 p.c July 2 Smith and Smith—Pre., 5 p.c. July 31 National Mortgage—lnterim, 2£ p.c., tax free July 2 N.Z. Breweries—Final, 21 p.c. . July CALLS. Glenroy Gold —3d per share, making shares payable to is July 9 Interest Rates. The return to the investor on his ou-t-----lay, based upon the latest dividends, works out as follows on the latest sales. Where Government stocks are included the calculation provides for redemption at maturity. In the case of local body issues allowance Is also made for per cent interest reduction: PER CENT PER ANNUM. £ s. d.

YESTERDAY’S SALES. Auckland.

OTHER EXCHANGES. Per Press Association. DUNEDIN, June 26 Sale reported.—Bank of New Zealand (long D), 33s lOd. Sale on ’Change.—Nokomai, 3s.

AUCKLAND. AUCKLAND, June 26. Sales on ’Change.—Westport-Stockton (pref.). 3s Id: Mataki, 2s 3d; N.Z. Refrigerating (eon.), 9s 2d; Auckland Gas 2fis 7d, eon. 19s 6d; Electrolytic Zinc, 24s 6d; Wilson’s Cement, 295; British Tobacco, 36s 6d; N.Z. Breweries, 425, 42s 3d: New Zealand Insurance, 60s; South British Insurance, 79s 6d; Auckland Gas debentures, 65 per cent, £lO4. TO-DAY IN AUCKLAND. CSpecial to the “ Star.”) AUCKLAND. June 26. Although business is still somewhat dull on the Exchange, the market has a slightly firmer tone than last week and there are definite indications that the recent easing has been checked. Banking scrip margins remained wide for most issues, but buyers of -Commercials raised their offers a penny at the morning’s call to 16s Id. while holders were only a penny above. New Zealands showed little change, buyers being still £2 7s 9d and sellers £2 8s 7d. Insurances appeared steady. New Zealands being wanted at £3 and sellers quoting £3 0s 6d. South British were a trifle higher than last week, with more in demand at the old price and sellers at £4. SYDNEY STOCK EXCHANGE. SYDNEY, June 25. On the Stock Exchange, although the market was relatively quiet, there was a perceptible improvement in tone, especially as regards many industrial trading issues, which suffered reverses recently. The restriction of the mining business to cash also had the effect of diverting attention to other departments. Morning sales were; Bonds, 32, 1942, £lO3 15s; 4 p.c., 1938 £lO4 10s; 1941, £lO6 16s ,8d; 1947, £lO9 2s 6d; 1950, £lO9 15s; 1955, £IOB 17s 6d; Tooths, 425; Anthony Hordern, 14s 4d, 14s 6d; Associated News, 22s l£d; Broken Hill Proprietary,-44s 3d. Afternoon sales; Bank of New South Wales', £3O 10s; Commercial Bank of Sydney, £l7; National Bank (£5 pd.) £6 3s; Bank of Adelaide, £5 10s; Associated News, 22s lid, (pref.), 235; Australian Gas A, £7 17s; British Tobacco, 36s 6d; Tooths, 42s 3d; Dunlop Perdriau Rubber, 18s lid; Morris Hedstrom, 16s; Henry Jones, 325; Anthony Hordern, 14s 6d; Standard Cement, 17s 9d; General Industries, 12s; Mount Morgan, 26s 3d; Broken Hill, Proprietary, 44s 3d; South Brokens, 735; North Brokens, 92s 6d; Rawang Tin, 8s lOd; Malin Nawar, 15s 6d; Placer Development, 245; Euratha Gold, 10s 6d; Lancefield, 12s Id; Mount Coolon, 10s. Melbourne Exchange. MELBOURNE, June 25. Goldsbrough Mort, 31s; Adelaide Steam, 25s 6d; Taranaki Oil, Is 9d; Mount Lyell, 20s 9d. EXCHANGE RATES. Quotations From London. British Official Wireless.

Local Dollar Values. Current dollar exchanges, as quoted by the New Zealand banks, are as Buying. Selling. United States .. 5.13 4.93 Canada 5.10 4.90 Dollar and Franc. (Received June 26, 11 a.m.) LONDON, June 25. The American dollar is quoted at 5.032. to the pound sterling, and the franc at 76 5-16. £1 (New Zealand) is Worth:

CUSTOMS ASSESSMENTS. Rates of exchange ruling at the announced dates of departure of the vessels named are shown in the following table. They are subject to confirmation by the Customs Department when the exact time of departure is learned on arrival of the vessels in New Zealand, finally declared rates being marked *: Canadian Leader, Canada, dollars 5.12 Melbourne Maru, Japan, yen .... 14d Sheaf Crown, America, dollars .. 5.11 Sydney Maru, Japan, yen !4d Canadian Cruiser. Canada, dollars *5.14 Canadian Cruiser, U.S.A., dollars *5.16 Canadian Challenger, Canada, dols. 5.05 Tapti. U.S.A., dollars 5.04 Wairuna, Canada, dollars 5-00 Canadian Victor, Canada, dollars 5.03 For cargo on the Hororata, which arrived yesterday,. Customs assessment for Continental countries is dated April

£ s. d. £ s. d. N.Z. OOVI. STOCK— °”43* and 1938-52 . 106 0 0 31 p.c. Inscr., 19391943 • 106 7 6 3i p.c. Inscr., 19391952 106 5 0 4 p.c. Inscr., 1940 105 10 0 106 0 0 4 p.c. Inscr., 1946 14)6 10 0 106 15 0 4 p.c. Inscr., 1949 106 12 6 106 17 6 4 p.c. Inscr., 1955 106 15 0 107 0 0 4 p.c. Bonds, 1940 105 10 0 4 p.c. Bonds, 1946 106 12 6 4 p.c. Bonds, 1949 and 1955 106 15 0 OTHER DEBENTURES— Booth. Macdonald 6 £ p.c., 1937 . . 72 0 0 N.Z. Refrigerating-, 61 p.c., 1935 .. 100 10 0 104 0 0 BANKS— Comm. of Aust. 016 1 016 2 Comm. of Aust. (pref.) 911 0 916 0 Comm, of Sydney 1615 0 16 19 0 E., S. and A 4 19 0 5 5 0 National of A’asia (£10 paid) .... 11 15 0 National of A’asia (£5 paid) 6 0 0 6 3 0 Natl, of New Zealand (cum div.) 3 15 0 3 18 0 New South Wales 30 10 0 30 15 0 New Zealand .... 286 New Zealand (“D” mort. shares) .. 113 0 114 0 Union of Aust. .. 9 15 0 9 19 0 INSURAN CE— New Zealand .... 310 South British . . 4 0 0 Standard 3 0 0 LOAN AND AGENCY— Ch’ch Building Society 12 0 0 Dalgety and Co. . 10 0 0 Goldsbrough, Mort (cum div.) .... 1 11 0 1 11 3 Mutual Benefit .. 10 0 0 N.Z. Guarantee Corpn. 0 4 3 0 4 5 N.Z. Loan and Merc. (ord. stk.) 54 0 0 58 0 0 Permanent Invest. 8 0 0 United Building Society 1 1 6 1 111 SHIPPING— New Zealand (pf.) 9 0 0 P. and O. Deferred Stock 12 0 FROZEN MEAT— N.Z. Refrig. (10s paid) 0 8 11 0 9 2 N.Z. Re frig. (£1 paid) 0 19 2 0 19 5 WOOLLENS— Kaiapoi (17s pd.) 0 10 9 Kaiapoi (7s paid) 0 3 6 0 3 10 COAX.— Taupiri 0 14 0 Westport 0 17 6 0 18 3 Stockton (ord.) . 0 3 0 Stockton (pref.) . 0 3 0 0 3 6 GAS Australian Gaslight “A ”... . 7180 Auckland 1 6 3 Christchurch .... Ill 4 112 0 Christchurch (10s paid) 0 14 6 BREWERIES— Monteiths 0 17 6 New Zealand (cum div.) 2 2 1 Timaru (7s 6d pd.) 0 6 5 0 6 11 Tooths 2 111 2 2 3 MISCELLANEOUS Amalg. Wireless (contr.) 160 180 Anthony Hordern 0 14 3 0 14 6 Anthony Hordern (Pref.) 1 3 0 1 4 3 Australasia Paper . and Pulp 1 14 3 1 15 6 Death and Xo. .. 112 6 113 0 Bearh and Co. (Is Paid) 0 9 4 0 10 0 British Tobacco (cum div.) 1 16 5 1 16 9 Broken Hill Pty. 2 4 0 Colonial Sugar .. 65 10 0 66 15 0 D.I.C. (pref.) .... 14 6 15 6 Dominion Builders’ Supplies 0 4 9 0 5 1 Domin. Fertiliser 0 18 6 Dunlop Rubber .. 0 17 11 0 18 0 Electro. Zinc (ord.) 14 4 15 3 Henry Jones Co-op. 1 12 3 Howard Smith .. 0 13 6 0 14 6 Kauri Timber .. o 16 4 0 16 7 N.Z. Drug Co 3 16 6 N.Z. Malay Rubber (pref.) 1 2 6 Evans Atlas Flour 2 0 4 2 4 0 N.Z. Farmers’ Coop. 4£ per cent Stock, 1940 and 1945 81 0 0 N.Z. Farmers' Coop. (“A” pref.) 0 9 0 1 4 0 N.Z. Farmers’ Fertiliser 1 0 0 N.Z. Paper Mills . ly 10 0 Northern Roller Milling 1 10 6 Rural Bonds .... 103 0 0 104 0 0 Wilson’s Cement . 17 0 19 3 Wool worths (N.Z.) (pref.) 2 0 0 2 5 0 Woolworths (Syd.) (1st pref.) 1 17 0 2 0 0 Quill. Morris (in liauidation) .« 0 3 3

MINING Alexander 0 16 0 0 19 0 Alexander (13s 6d paid) 0 14 3 0 15 3 Ao’tearoa 0 0 0 U Bell Hill 0 0 8 0 2 3 Bell Hooper (Is 0 0 0 0 6 Bell Kilgour .... 0 0 0 45 Bendigo Uoldlights 0 0 6 0 0 7 Big River 0 1 0 0 1 div.) 12 0 14 G Bi'lolo V 15 0 8 b 0 Deep Dead (Is paid) 0 1 7 0 2 3 (9d paid) .... 0 0 105 0 0 11 Charleston 0 0 4 0 1 0 Fresht'ord (in liquidation) 0 0 03 0 0 Gillespie’s Beach 0 1 9 0 1 10 0 1 0 1 Golden Point .... 0 0 H 0 0 2 Goldfields Dredg0 0 0 10 Kildare 0 2 0 King Solomon 0 3 0 3 11 Dawson's Flat 0 0 35 0 0 b 0 8 0 S'. Mahakipawa 0 0 91 0 0 10 Mahakipawa (pf.) 1929 issue 0 8 Mahakipawa (pf.) 1930 Issue 0 1 3 Mataki 0 1 0 2 5 Mining House Concessions (9d paid) 0 G Mount Dyell .... 1 8 Mount Morgan 1 6 3 1 6 6 Moonlight Kelson 0 0 0 0 Nevis Diesel Elec. 0 43 0 Xokomai 0 2 10 0 3 0 Okarito 0 7 0 0 7 8 Rawang Tin .... 0 8 75 0 S 95 Upper Shotover (9d paid) .... 0 Waihi 1 Waihi Grand Junetion 0 4 05 0 4 3 Waitahu 0 3 6 0 1 0 1 0 Worksop Extended (Is paid) .... 0 55 Skippers 0 0 «4 Stafford Sluicing 0 4i Mossy Creek (is paid) Peninsula Tin (22s paid) * 1 Euratha (5s paid) 0 10 6 0 Unlisted Stocks All transactions in stocks quoted in this section are subject to a different rate of brokerage from listed stocks and are not quoted on the official list. Andersons, Dtd. (pf.) 0 10 0 Ben Dedi (9d pd.) 0 0 7 Ch’ch Press Co. (£5 paid) s 0 0 11 0 0 Golconda Hblding . 0 3 Invest. Ex. Trust issue) 90 0 0 Natl. Tobacco 3 4 6 3 6 0 X.Z. Mining Invest. (Is paid) 0 0 6 0 N.Z. Perp. Forests (4s paid) 0 s 0 Procera Bread (10s paid) 0 14 0 E. Reece, Dtd. (pf.) 0 1 4 Regent Pictures (Christchurch) 0 13 0 Shand and Co., Dtd. 0 18 0 Snowy River .... 0 0 U 0 0 3 Sun Newspapers . 0 4 1 0 Standard Optical . 1 Wool worths (Vic.), (pref.) 1 6 0 1 7 0 Woolworths (Sydney) ord 5 7 6 15 0

6 3 4 Broken Hill Proprietary . 4 . 3 11 6 ij a . 2 8 u Bank of _New South Wales . - 3 . 4 5 1 3 0 . 4 9 0 Commercial Bank of Sydney • < . 3.' P 6

Sales on 'Change.— __ „ Inscribed 4 p.c., 1946 Commercial Bank of Aust. 0 9 Bank of N.Z. (D mort.) .. 1 13 N.Z. Insurance (2) 3 0 Auckland Gas (2) Auckland Gas (15s pd.) .. 0 19 Kaiapoi Woollen 0 11 Bycroft (2) Consolidated Brick (2) 0 N.Z. Refrigerating (10s pd.) 0 Mahakipawa 0 0 104 Grand Junction 0 4 Unlisted — Auckland Farmers’ Freezing (£1 paid) 1 0 0 Invest. Ex. Trust 2nd B . . 94 10 0 National Tobacco 3 4 6 Perpetual Forests 2 S 0 Wellington. Sales reported.— Inscribed 4 p.c., 1955 106 17 6 Lower Hutt, 41 p.c., 1940 .. 103 0 0 National Bank of N.Z. 3 15 0 Union Bank 9 17 0 N.Z. Insurance 3 0 0 N.Z. Refrigerating (cont. late sale Saturday) 0 9 2 Mt. Lvell 1 0 7 Brian Boru i 0 1 71 Skippers 0 0 10 Unlisted— Wellington Publishing Co. .. 5 0 0 Dunedin. Sale on ’Change.— Gillespie’s Beach 0 1 10 Sales reported. Bank of N.Z. (D mort.) .. 1 13 9 Mahakipawa 0 0 101

RUGBY, Ju ie 23. London on the Cities mentioned:— To the £ Par. June 23 June IS. New York (dol.) 4.S6 2-3 5.03 9-16 5.03 7-16 Montreal Cdol.) 4.86 2-3 4.991 4.99J Paris (fv.) . . 121.21 76 13-32 76 11-32 Brussels (belga) 35 21.564 15.49 Geneva (fr.) 25.22.1 15.*50 Amsterdam (fl.) 12.107 7.42? 7.422 Milan (lire) . 92.46 59 1-16 58 15-16 Berlin (marks) 20.43 13.184 13.204 Stockholm (kr.) 18.159 19.40 19.40 Copenhagen (kr.) 18.159 22.391 22.39J Oslo (kr.) 18.159 19.90 i 19.904 Vienna (sch.) 34.58J 27 27 Prague (kr.) . 1641 121 5-16 1213 Helsingfors (f. marks) 193.23 2262 2262 Madrid (pes.) 25.221 36 13-16 36 13-16 Lisbon (esc.) no 110 no Athens (dr.) 375 1525 Bucharest (lei) 813.6 + 505 f505 Belgrade (dinars) 276.32 221 Rio de Janeiro, (d. to mils) 5.899 t41 74S Buenos Aires (d. to peso) 47.62 t36J 736J Montevideo (d. to peso) 51 *3S2 7382 Batavia (florins) 12.11 7.41 Value in Pence. Pai d d. d. Bombay (rupee) IS 18 o-6-IS 3-64 Shanghai (dol.) • 151 152 Hong Kong (dol.) 1 7 g 174 Yokohama (yen) 24.5Sd. 1*4 9-32 14 9-32 * Pence per ocal unit. fSellers.

i £ s. d. In Sydney 1 0 0 Tn London 16 0 In New York 16 7 In Montreal ............ 16 6 In Berlin 10 10 In Paris 10 1