THE STOCK EXCHANGES

Press, Volume LXXIV, Issue 22513, 22 September 1938, Page 13

THE STOCK EXCHANGES

LONDON

LONDON MARKET MORE CHEERFUL

LOCAL PRICES WELL MAINTAINED

The London stock markets are reported to be more cheerful. All groups have recovered appreciably except Czech and Hungarian stocks. The Berlin Bourse is firm, an indication of confidence that a peaceful solution will be found.

Sydney investors continue to be cautious. Except Broken Hill stocks, which were firmer, the trend of yesterday’s prices was downward. The Melbourne market opened firmer but was inclined to ease at the close.

The Christchurch Exchange was again dull and quiet yesterday. The turnover was restricted to six stocks. Price levels generally were well maintained and several stocks firmed.

DEALINGS COMPLETED

LISTED STOCKS Sales on 'Change

Sales Reported

100 Bank of New Zealand ... 22 1 50 N.Z. Breweries . • * u u Sales on 'Change UNLISTED STOCKS 200 Reece, Ltd. E. (pref.) .. 03 0 Banks, Insurance, Breweries. Bank of New Zealand were fractionally firmer at 42s Id, sellers staying in at that price, buyers at 41s lOd National Insurance were weaker witn sellers at 16s 6d. . . . New Zealand Breweries remained unaltered with sellers and business at 40s, buyers at 39s 6d. 1 Miscellaneous Broken Hill Proprietary recovered tc 55s 3d and 55s 0d and more were wanted at 55s lOd, sellers at 565. The contributing rose to 37s 6d. market closing 37s 5d .buyers, 37s lOd seller.. Electrolytic. Zinc were firmer with buyers of the ordinary at 395. and of the preference at 44s Id. G J. Coles recovered to "bs ua. and there were further buyers at 76s 10d, sellers at 77s 6d. Taranaki Oilfields were firm at 12s 3d. closing quotations Id on either side. Buyers of New Zealand Newspapers raised their bid. to 345. but sellers wanted 355. Broken Hill South were stronger on buyers’ offers 29s lOd. Mount Lyell wore firmer with buyers at 26s lOd. Buyers of North Broken Hill moved up to 45s 9d, but sellers wanted 46s sd.

UNLISTED STOCKS

Unlisted Stocks

All transactions in stocks quoted in this section are subject to special brokerage and are not quoted on the official list:— Buyers. Sellers. £ s. d. £ s. d.

E. Reece, Ltd. (preference) had business at 3s, and there were further buyers at that price, but sellers were re'tjeent.

LATEST QUOTATIONS

AUCKLAND Sales on ’Change

Overseas Uit

Woolworths Holdings (S.A.) .. 0 14 10

WELLINGTON Sales on ’Change

SYDNEY

Pending an Improvement in the European situation. Sydney investors are continuing to be cautious. The trend of yesterday's prices was downward except Broken Hill stocks, which were firmer.

MELBOURNE

• The Melbourne market opened firmer, but was inclined to ease at the close.

FOREIGN EXCHANGES

(niTISB omcIAL WTBELSSS.)

BANK OF NEW SOUTH WALES

LONDON METALS MARKET

Whether your income is £2 or £2O weekly, you’ll make it buy more if you read the. advertisements regularly in “The Press.”., —6

£ S. d. 100 Broken Hill Pty; 2 2 15 15 3 9 100 Broken Hill Pty. (con.) 1 17 6 30 G. J. Coles 3 .16 11 100 Taranaki Oilfields U 12 3

N.Z. Govt. Debentures Buyers. Sellers. £ s. d. £ S. a. 3 p.c. Ins., 1941 • ■ 31 p.c. Ins., 15/3/39-43 — 98 0 0 96 10 0 98 101 — 31 p.c. Ins., 15/9/39-43 31 p.c. Ins., 1938-52 100 0 0 10 0 0 0 3J p.c. Ins., 1953-57 3J p.c. Bonds. 1953-57 .. 4 p.c. Ins., 1949 . • 100 12 6 u 94 10 0 0 4 p.c. Bonds, 1949 . • 100 12 6 4 p.c. Ins., 1955 100 0 0 4 p.c. Ins., 1946- •• 99 10 0 4 p.c. Bonds, 1946 . • 100 5 0 4 p.c. Bonds, 1955 100 5 0 Other Debentures Banks Peninsula, 4J p.c., 1/4/65 103 1U 0 Napier Harbour. 41 p.c.. 103 30/9/50 .. • • 0 0 Waltemata Power. 41 104 p.c., 1/12/64 , .. —- 0 0 Nth. Canty. Hospital, 41 p.c.. 1/11/47 103 10 0 Oxford County, 41 p.c.. 106 1/4/61 .. , •• —- 0 0 Wellington Hospital, 41 p.c., 14/9/43 102 10 0 Gisborne Sheep, 6i p.c.. 101 31/8/41 .. 0 0 Dominion Fert., ,7i p.c.. 102 1/2/41 0 0 Banks A/asia. (cum div., £5) 10 5 0 10 12 6 Comm, of Aust. (10s) 0 15 8 0 15 10 Comm, of Aust. (pref., 9 £10) •• • • 5 0 — Comm, of Sydney (£12 19 10 20 10s paid) .. •• 0 0 0 Natl, of A/asla. (£5 6 15 paid) .. •• — 0 Natl, of N.Z. (£2 10s 12 paid) N.S.W. (£20) 2 3 30 10 0 New Zealand (£1) 2 1 10 2 2 1 Union of Aust. (£5 8 8 8 paid) 5 0 0 Insurance National (7s paid) 0 15 10 0 16 6 New Zealand (£1) — 2 16 0 Standard (£1 paid) .. — 2 15 0 Loan and Agency Dalgety and Co. (£5 8 1 6 11 paid) .. Goldsbrough, M. (£1) 1 6 6 i 6 Mutual Benefit (£ 10) — 13 1U 0 N.Z. Guar. Corpn. (3s) 0 4 0 U * 3 Perm. Invest. (£10) —■ 10 0 0 United Bldg, (cum div.. £1) 1 0 0 Shipping New Zealand (£10) .. 11 10 0 — Frozen Meat Cantby. (£7 10s paid) 9 7 6 — 9 N.Z. Refrig. (£1 paid) —— 0 17 N.Z. Refrig. (10s paid) —- 0 8 . 0 North Cant. Freezing, 16 16 9 (pref., £1) .. 0 0 0 Woollens Felt and Textiles (£1) — 1 12 0 Kaiapoi (17s paid, cum 9 div.) 0 3 — Kaiapoi (pref., cum 16 div., ,17s) .. — 0 0 Coal Grey Valley (£1) — 0 11 0 Westport-Stockton (10s) 0 3 0 0 4 6 Westport-Stockton (pf., 6 10s) 0 0 *“• Gas Auckland (£1) — 1 0 0 Christchurch (£1) — 1 7 6 Breweries Crown (in liqdn.) .. 0 1 0 — 0 New Zealand (£1) 1 19 6 2 0 Queensland (£1) 0 — 10 X 6 6 Timaru (in liqdn.) .. 0 9 Tooths (£1) .. 2 12 0 z 1Z Miscellaneous * Alloy Steel (N;Z.), 6 (£D •• .A - 1 0 Amalg. Wireless (17s paid) Aust. Glass (£1) ■ 4 10 0 2 4 18 10 6 6 Aust. Iron and Steel 9 0 (pref., £1) •• Beath and Co. (£1) _ 1 1 7 0 Berlei (N.Z.) (£1) •• 3 2 0 Booth Macdonald (pf., £1) 0 1 9 0 2 2 British Tobacco (cum 6 15 ■ div., £1) •• •; Broken Hill Pty, (£1) 2 2 0 10 2 2 7 16 3 0 Broken Hill Pty. (con., 10s) Dom. Builders (10s) 1 17 5 1 17 10 0 2 3 0 3 0 Dorn. Fertiliser (£1) .. — 1 4 0 Donaghy Rope (£ 1) .. 2 3 0 2 9 0 Dunlop Rubber (cum 1 1 6 9 div., £1) •• Electro. Zinc (£1) .. 0 19 5 0 1 T 0 19 Electro. Zinc (pref., £1) •• 2 4 1 2 4 10 Evans Atlas Flour (10s) ' 0 19 0 6 G. J. Coles (£1) 3 16 10 3 17 Hay’s, Ltd. (con., 15s paid) __ 0 18 0 Hume Pipe (Aust.), 0 (cum div., £1) — 1 0 Kauri Timber (25s) .. — 1 3 0 Mason, Struthers (£1 17 6 paid) .. •• —- 0 Mason. Struthers (14s paid) .. • • — 0 1Z 9 Mason. Struthers (10s 8 paid) .. • • 0 5 0 0 0 I.C.l. (Aust. and N.Z.), fi (pref., £1) .. 1 1 3 1 1 Morts Dock (£1) — 0 12 0 McKenzies, Ltd. (£1) .. 3 4 0 N.Z. Drug Co. (£2) .. — 3 10 0 N.Z. Farmers' Co-op. (10s paid) • .. — 0 0 1 N.Z. Farmers’ Co-op. (A pref., cum div., £4) 1 10 0 —— N.Z. Farmers’ Co-op. (4i p.c. Stock, 1950, 90 10 , £100) 89 10 0 0 N.Z. Newspapers (16/8) 1 14 0 — South Island Finance 8 6 (10s paid) . . v — 0

Buyers. Sellers. £ S. d. £. s. d. Taranaki Oil. (24/7 pd.) 0 12 2 0 12 4 Whitcombe and Tombs (£5) 3 3 D Wilcox, Mofflin (11s) 0 6 1 — Woolworths (Sydney) (ord., cum div., 5s) 1 0 X — Woolworths (Victoria) 10 19 0 0 (pref., £1) .. Woolworths (N.Z.) (5s) 0 17 9 1 0 Woolworths (N.Z.) 0 0 (pref., £1) .. W. R. Carpenter 2 4 3 2 2 0 6 Overseas Listing Woolworths (S.A.) (5s) — 0 15 0 Mining Argo (ex div., Is) .. 0 2 0 Argo (con., ex div.. Is) 0 1 4 0 1 8 Big River (Is) .. 0 1 3 Austral (N.Z.) (£1) 1 1 0 Gillespie’s Beach (Is) 0 o Hi 0 1 0i Golden Sands (Is) — 0 1 6 Goldfields Dredg. (Is) — 0 0 3 Grey River (10s) Q 14 6 Glenroy (Is) P 0 1 6 Maori Gully (Is) 0 0 3 0 0 Martha (cum div., 5s) 0 10 6 Moonlight Gold. (8d) — 0 0 5 Mossy Creek (Is) — 0 1 1 Nemona (Is) 0 1 3 8 New River (Is) 0 0 6 0 0 Nokomai (2s) — 0 1 9 Okarito (5s) — 0 3 3 Skippers, Ltd. (Is) .. — 0 0 I Skippers (pref.. Is) .. Waihi Invest. (5s) . . — ■ 0 0 6 0 8 5 0 9 ID Waihi Grd. Junct. (2s) — 0 3 2 Australian Mining Broken Hill Sth. (5s) 1 9 10 1 10 0 Mount Lyell (£1) 1 6 10 1 7 2 Mount Morgan (2s 6d) 0 10 9 0 10 11 Mount Morgan (pref.. £1) 1 1 0 1 1 i Nth. Broken Hill (cum 9 6 div., 5s) 2 5 2 5 Placer Developments (1 dol.) 3 18 6 4 5 0 Rawang Tin (cum 9 8 6 div., 10s) .. 0 7 0 Wellington Alluvials 0 5 0 0 5 2 North Kalgurlie (1912) — 1 3 0

Assoc. Motorists Petrol Baltins Breweries 1 0 5 10 0 10 0 11 5 Blackball Creek 0 0 101 0 1 U Carbonic Ice 1 6 0 Kanieri — 1 5 0 Langes Moblje Gas .. — 1 0 0 N.Z. Perpetual Forests 1 14 0 1 18 0 N.Z. Mining Invest. .. — 0 0 2 Ngahere 0 10 <0 0 13 6 Reece, Ltd.. E. (pref.) 0 3 0 — Rangitiku Flax (£30) —- 20 0 0 Tingey, R. and E. — 1 2 0 Timaru Lime (cum div.) 0 17 6 1 0 0 White’s Electric 0 0 4 Wellington Invest. (£1 paid) 0 12 6

E s. d Ins. Stock, 1946-49. 4 p.c. 100 17 6 Ins. Stock, 1952-55, 4 p.c. 100 0 0 Ins. stock, 1939-43, 3i p.c. (2) 98 7 6 Ins. Stock, 1938-52, 3J p.c. 100 0 0 Ins. Stock, 1939-43, 3J p.c. 98 7 6 Auckland Harbour Board, 1955*, 41 per cent. 102 10 0 Kauri Timber 1 2 6 Tooth’s Brewery2 12 3 Dominion Breweries (ord.) 1 10 0 Australian Glass 4 11 0 Broken Hill Proprietary 2 2 15 15 9 10 Broken Hill Proprietary (con.) 1 17 6 Burns, Phllp 2 10 9 Dunlop Perdrlau . .. 1 0 6 Electrolytic Zinc 1 19 4 Imperial Chemicals (prel.) 1 1 7 McKenzies 3 0 0 Reid (N.Z.) Rubber 1 2 6 Woolworths (Sydney) 1 1 0 0 2 3 North Broken Hill .. 2 4 9 2 6 0 Wellington Alluvlals .. 0 5 3

£ s. d. Consolidated Brick McKenzies’ Depart. Stores .. 0 7 3 3 1 6 G. J. Coles .. . • • • 3 16 9 3 16 6; (All above late Tuesday) Inscribed Stock, 4 p.c., 1946 100 0 0 N.Z. Guarantee Corpn. . 0 4 Commercial Bank of Australia (pref.) 9 6 6 Kauri Timber Ca'rlton Brewery j. 3 5 Broken Hill Proprietary 2 15 Amalg. Brick, Auckland 97 0 DUNEDIN Sales Reported £ s. d. Bank of New Zealand (2) 2 2 0 N.Z. Breweries • 2 0

Morning Sales £ s. d. Toohey’s Brewery .. 1 10 12 16 0 9 0 Tooth’s Brewery 2 Anthony Hordern 0 Broken Hill Proprietary 2 16 3 6 Dunlop Perdriau 1 0 Afternoon Sales £ s. d. Bank of New South Wales 30 2 6 Commercial Bank of Sydney 20 3 0 Colonial Sugar 46 12 6 0 Australian Glass 4 11 British Tobacco. 2 6 10 British Tobacco (pref.) Tooths • • . G. J. Coles (N.Z. delivery) 1 2 3 11 12 17 6 6 0 Cash Orders 0 15 0 Sargents 1 5 3 Goldsbrough, Mort 1 6 6 4 i Woolworths 1 0 ■Henry Jones ' 2 8 0 Millaquln Sugar 1 17 6 Fairymead Sugar 1 12 0 Electrolytic- Zinc (pref.) 2 5 0 Broken Hill Pty. 2 16 0 Mount Morgan ' .. 0 11 0 Mount Morgan (N.Z. delivery) 0 10 11 Emperor Gold 0 12 9 Doloma X 3 3

£ s. d. Commercial Bank of Australia 0 15 10 Australian Paper Mfrs. (pf., old) 1 5 0 Carlton Brewery 3 2 9 G. J. Coles 3 17 3 Australian Glass 4 10 9 Dunlop Perdriau 1 0 6 Herald and Weekly Times 2 18 0 Imperial Chemicals (pf., 10s pd.) 0 11 5 Electrolytic Zinc .. .. 2 0 0 Electrolytic Zinc, (pref.) 2 5 0 Mount’ Morgan • 0 11 0 Mount Lyell .. .. ... 1 7 0 Broken Hill Pty. .. .. 2 15 6 North Broken Hill .. .. 2 6 0 l.oloma • .. .. 1 3 4

Sept. 6. £ s. d. Sept. 20. £ s. d. Australasia Banks 8 3 9 8 .1 3 E., S.. and A. .. 3 17 . 6 3 14 0 Union of Avist. a. 6 10 0 6 7 • 6

' Sept. 13. Sept. 20. £ s. . d. £ 5. d. New South Wales .. 23 17 6 23 7 6 National of N.Z. 2 0 0 2 0 . 0 , New Zealand 1 13 3 1 13 0 Others N.Z. Loan and Merc. (4 p.c. debs.) 84 10 0 82 10 0 N.Z. Loan and Merc. (ord. stock) .. 22 10 0 22 0 0 British Tobacco 1 17 74 1 IS 74 Goldsbrough, Mort .. •1 0 74 •1 0 0 Dalgety 6 4 44 8 3 9 P. and O. Def. Stock 0 19 101 0 19 104 •Nominal.

RUGBY, September 20. Par. 9ept. 19. Sept. 20; Paris, fr. to £1 170 178 21iS4 178 21-64 New York. 4 i860 4.82 3-16 dol. to £1 4.80 5-16 Montreal, dol. to £1 4.866 4.822 4.84g Brussels, belgas to £1 35 28.46i 28.591 Geneva, fr. to £1 .25.2213 21.281 21.281 Amsterdam, *fl. to £1 12.107 8.92 8.92 3-16 Milan, lire to £1 92.43 9U 9111-16 Berlin, reich12.06 marken to £1 20.43 12.00 Copenhagen, 18.159 22.40 . 22.40 kr. to £1 Stockholm. kr. to £1 18.159 19.40 19.40 Oslo, kr. to £'l 18.159 19.90 19.90 Vienna, schgs. to £1 34.585 — — Prague, kr. / to £1 154.25 139| 1392 Helsingfors. 2262 2262 marks to £1193.23 Madrid, pese25.2215 tas to £1 — —- Lisbon, escu. 110 3-16 dos to £ 1 110 110 3-16 Athens, drach 5471 to £1 375 547i Bucharest, 665 lei to £1 818.60 665 Belgrade, 376.3 214 214 dinars Rio de Janeiro, pence to 215-16 mllreis 4.90 2 15-16 Buenos Aires,. 19.011 pence to dol. 51 19.011 Montevideo, .20 20 pence to peso • Bombay, pence 17 29-32 17 29-32 to rupee m ' Shanghai, pence 82 82 to rupee • Hong Kong, 15 15 pence to yen • Yokohama, 24.58 14 14 pence to _yen Batavia, 8.901 8.901 guilders 12.107 Warsaw, par 43.38 26.31 26.31 zlotys to £1* ♦Determined by price of silver.

The Bank of New South Wales quoted the following exchange rates yesterday:— { Buying.. Selling. N.Z. on London— £ N.Z. to £100 stg. T.T. 124 124/10/% O.D. 123/11/3 124/9/b Australia — £ A. to £100 N.Z. T.T. 100/17/6 100/5/O.D. 100/17/6 100/5/Fiji— £F, to £100 N.Z. T.T. 90/7/6 89 O.D. 90/7/6 89 New York— Dol. to £1 N.Z. T.T. 3.8960 3.8620 O.D. 3.9010 3.8630 Montreal— Dol. to £1 N.Z. T.T. 3.9162 3.8838 O.D. 3.9249 3.8848 Belgium— Belgas to £1 N.Z. T.T. 23.182 22.872 O.D. 23.257 22.877 Czechoslovakia— Korunas to £1 N.Z. T.T. — 110.95 O.D. — 110.97 Denmark — Kroner to £1 N.Z. T.T. 18.203 17.893 O.D. 18.263 17.895 Finland — Marks to £1 N.Z. T.T. 185.40 179.60 O.D. 185.80 179.70 France — , Francs to £1 JN.Z. T.T. — 142.26 OJ3. — 14228

Germany— Reichmarks 9.616 to £1 N.Z. T.T. — *' O.D. — 9.618 Greece — Drachmae 430.75 to £1 N.Z. T.T. — ■OJJ. — . ■ 430.90 Holland— Florins to £1 N.Z. T.T. 7.270 7.120 O.D. 7310 7.122 Italy— 73.503 Lire to £1 N.Z. T.T. — O.D. — 73.528 Java— 7.101 ■ Florins to £1 N.Z. ’ T.T. 7.251 OD. 7.291 7.103 Norway— 15.892 Kroner to £ X N.Z. T.T. 16.182 OX). 16.242 15.895 Noumea— Francs to £1N.Z: . T.T. — 140.51 OJ). — • 140.55 Papeete— 140.66 Francs to £1 N.Z. T.T. — * P-D. — 140.70 Sweden— 15.490 Kronor to £X N.Z. T.T. 15.785 OX). 15.845 15.493 Switzerland— Francs to £1 -N.Z. T.T. 17.279 17.009 O.D. 17.384 17.011 Chefoo — T.T. — 12i N.Z. pence to dol. O.D. — 121 Hong'Kong— 1 N.Z. pence to dol. T.T. IS 29-44 18 53-64 OH. 18 27-64 18 53-64 India and Ceylon— N.Z. pence to^rup. T.T, 22i 22 13-32 O.D. 22 3-32 2213-32 Japan— T.T. — N.Z. pence to yen 17 9-l» OX). — 17 9-16 Manila— N.Z. pence to peso T.T 30 33-64 3111-64 OX). 30 27-64 3111-64 Shanghai—N.Z. pence to dol. T.T, Not quoted O.D. Not quoted Singapore— N.Z. pence to dol. T.T. 34 13-32 34 57-64 OX). 34 5-16 34 57-64

(TTVTTZD PBX3S iSSOCaiTIOBi—COPTalOHT.) LONDON, September 20. Sept.19. Sept. 20. Copper — £ s. d. £ s. d. Standard, spot 43 8 li 42 10 10i Forward 43 U 10i 42 19 4i Electrolytic .. 48 5 0 48 0 0 to 49 5 0 49 0 0 Wire bars .. 49 5 0 49 0 0 Lead— Spot 16 3 li 16 0 7i Forward . .. 16 S, 7i 16 3 li Spelter— Spot ,14 8- li 14 5 Vi Forward .. . 15 0 7i 14 11 3 Tin-r^ Spot 196 7 6 195 17 6 Forward • .. 197 2 6 196 12 6 Silver — Fine, per oz. 19id 191d Standard per bz. .. 20J d 203d