THE STOCK EXCHANGES

Press, Volume LXXIV, Issue 22518, 28 September 1938, Page 13

THE STOCK EXCHANGES

PRICES CONTINUE TO FALL

SHARP BREAK IN LOCAL MARKET

Little business is being do ne 'on the London Stock Exchange, and prices are being marked down severely. The latest quotation for the 3J per cent. British War Loan, which is one of the market pointers, is £92, compared with £IOO at the end of last week. German and Czech bonds are weak.

Sellers in Sydney yesterday accepted greatly reduced prices. The falls were the heaviest since the crisis began. Even gold shares were considerably lower. Prices were also marked down in Melbourne, but the volume of trading was light.

Without evidence of much selling pressure, local markets continued to move toward lower levels yesterday. The afternoon’s news about the crisis in Europe caused a sharp break in the prices of several stocks.

LOCAL DEALINGS

Government and Insurance New Zealand Government 4 per cent, stock, due 1946, was marked down to £99 15s, which includes accrued interest of 9s sd. Standard Insurance changed hands at 54s 6d. and there were further unsupported sellers at 555. , „„ Goldsbrough. Mort declined to 26s 4d, and late sellers offered at 24s 9d, buyers at 23s 6d. Auckland Gas were _ fractionally weaker at 19s 9d, and Christchurch Gas dropped to 26s 6d. . New Zealand Breweries, which have been holding round 40s, fell to 38s, and there were' further sellers at tat orice buyers at 37s 9d. Tooth s Breweries lost 2s 3d with business at 49s 9d and closed with unsupported sellers at 47s 9d. Miscellaneous British Tobacco eased to 465, but closed with sellers at 43s 3d. Sellers of Broken Hill Proprietary came down to 51s. and the contributing dropped to 35s 3d, with further unsupported sellers at 355. . „ Colonial Sugar had dealings at £45 12s 6d and £44 10s, and more were offered at the lower price, Dunlop Rubber were easier with sellers at IDs 6d. Electrolytic Zinc showed a drop of Is 9d with sellers and business at 375. , , . Sellers of G. J. Coles reduced their limits to 72s 6d (3s 3d below Saturday’s business). Wool worths. Ltd. (cum div.), declined to 19s lid, and there were further sellers at 19s 4d. buyers at 19s 3d. Woolworths (South Africa) were fractionally weaker at 14s 9d. , ... Mount Lyells were weaker. with sellers at 25s lOd. North Broken Hill (cum div.) were available at 42s 2d, buyers at 425. Unlisted Stocks

E. Recce, Ltd. (prcf.). were firm with buyers and business at 3s

LATEST QUOTATIONS

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.

AUCKLAND

— j WELLINGTON ]

,-. . 1 DUNEDIN 3 Sale on ’Change 1 N.Z. Drug Co. .. .i 3 9 - O' i Sale Reported 4 p.o. Ins. Stock. 1943-46 .. 100 0 0 ] ] SYDNEY ,

GOLD RISES AGAIN NEW HIGH LEVEL FOR YEAR HEAVY TURNOVER ON LONDON MARKET LONDON. September 26. Gold has risen sharply on the London market. The latest quotation is £7 5s 7d a fine ounce. Gold to the value of £1,063,000 was sold at this price, which is the highest | since 1935. „ • . _ . , Following is the range of omcia. quotations for. gold since 1931 t Highest. Lowest

FOREIGN EXCHANGES (BBITIBd OFFICIAL WIBXLXM.)

LISTED STOCKS Sales on ’Change £. S. d. 100 Goldsbrough. Mort .. 1 6 4 100 New Zealand Breweries 1 18 0 5 Colonial Sugar 44 10 0 100 Electro. Zinc (ord.) 1 17 0 100 Woolworths (Sydney. ord.) 0 19 11 100 Woolworths (S o u t h Africa) 0 14 9 Sales Reported 300 Standard Insurance .. 2 14 6 100 Goldsbrough, Mort 1 6 4 n 100 Auckland Gas 0 19 150 Christchurch Gas 1 6 6 50 Tooth’s Brewery 2 9 9 50 British Tobacco (cum div.) .. •••*.-• 2 6 0 100 Broken Hill Proprietary ') (contr.) 1 15 o 5 Colonial Sugar 45 12 6 UNLISTED STOCKS • Sale on ’Change 200 Reece, Ltd., E. (pref.) 0 3 0

Buyers. Sellers. £ s. d. £ s. d. N.Z. Govt. Debentures 98 10 3 p.c. Ins., 1941 — 0 3i p.c. Ins.,' 1938-52 — 100 15 0 3i p.c. Ins., 1953-57 — 95 1U o 4 p.c. Ins., 1943-46 . • 97'10 0 99 15 0 4 p.c. Ins., 1949 97 10 0 100 15 0 4 n.c. Ins.. 1955 99 10 0 —"• 4 p.c. Bonds, 1955 .. 100 0 0 Other Debentures 'Christchurch City, 41 ■ p.c., 30/4/46 — • 1U* u 0 Banks Peninsula Power 0 Board, 41 p.c.. 1/4/65 1 *— 1UZ u Waitemata Power Bd., * 41 p.c., 1/12/64 — XU» u 0 Banka Australasia (cum dlv., £5) 10 2 • 10 10 0 Comm, of Aust. (10s) — 0 15 8 E., S.. and A. (£3 pd.) 4 15 0 5 2 0 N.S.W. (£20) • — 30 0 0 New Zealand (£1) • 2 ■ 2 0 ■ Insurance 0 16 2 14 2 15 6 National (7s paid) — New Zealand (£1) 6 n Standard (£1 paid) .. u Loan and Agency Dalgety and Co. (£5 paid) • • • * Goidsbrough, Mort (£1) 7 0* 1 3 0 8 8 0 1 4 0 9 N.Z. Guar. Corpn. (3s) 0 4 0 United Building (cum | A g div., £1) M V Wright. Stephenson <f A 6 (pre'f., cum div.. £X) ““* I w Frozen Meat Cantby. (£7 10s pd.) .. 9 5 0 0 14 0 17 0 8 g Gear (10s) .. N.Z. Kef rig. (£1 paid) 9 N.Z. Hefrig. ,(10s paid) 0 7 0 North • Cant. , Freezing 0 16 (pref., 10s) .. - • 0 Woollens 1 11 0 Felt and Textiles (£1) — Coal Westport-Stockton (pf., 10s) •• 6a , 0 s « 0 6 Auckland (£1) — 1 P 1 *? Christchurch (£1) Ji * Breweries Crown (in liqdn.) 0 1 0 1 18 A 1 o New Zealand (El) 1 17 9 9 0 9 Timaru (in liqdn.) .. p o U 1 2 7 Tooths {£!)■ • ■ Miscellaneous 6 Alloy'Steel, (N.Z.) (£1) 1, 0 1 4 n 0 Alloy Steel (Aust.) .. -0 6 9 Anthony Hordern, (£1) Aust. Glass (£1) • ■ 0 14, 4 5 0 0 4 10 0 Aust. Iron and Steel i ft 3 (pref., £1) •• •• — x o Booth, Macdonald ,(pf.. 0 2 i £1) •• , •• British Tobacco (cum div., £1) • • - • r Broken Hill Pty. (£1) 2 2 2 10 0 3 2 3 2 11 3 0 Broken Hill Pty. (con., 1 15 o 10s paid) Burns. Philp (£D •• Colonial Sugar (£20) .. 44 5 0 2 10 .44 10 A *7 0 0 8 0 Consolid. Brick (£1) .. Dom. Builders (10s) .. 0 1 9 U i 0 3 Dunlop Rubber (cum div.. £1) •• •• Electro. Zinc (£1) • • 0 18 1 16 6 6 0 19 1 17 6 0 Electro. Zinc (pf., £D G. J. Coles (El) 2 X 3 10 0 0 3 13 6 Henry Jones Co-op. Hume Pipe (Aust.) 2 a o 0 19 - 1 2 2 19 3 9 0 (cum div., El) •• Kauri Timber (25s) .. McKenzies, Ltd. (El) . • N.Z. Drug Co. (£2) .. 3 7 6 6 60 - N.Z. Farmers’ Co-op. (4J p.c. Stock, 1950, £100) •• _ 89 0 0 — N.Z. Farmers’ Co-op. (4J p.c. Stock 1955, £100) , N.Z. Newspapers (16/8) Taranaki Oil. (24/7,pd.) 89 0 1 12 0 10 0 S 0 1 15 0 11 0 10 United Provisions (cum 0 8 3 0 0 6 dlv., £1) ’ •• ■ • Whitcombe and Tombs u o (£5) Wilcox, iMofflin (11s) .. 0 Wilson’s Cement (10s) 0 15 0 Woolworths (Sydney) (ord., cum div., 5s) .. 0 19 3 0 19 4 Woolworths (N.Z.) (5s) u xo u , Woolworths (pref., cum div., £1) .. 2 ( 0 Overseas Listings Woolworths CS.A.) (5s) 0 14 p 0 14 11 Mining Argo (Is) • • Argo (cont.. Is) -• Barrytown (£1) •• 0 1 S 0 2 0 1 1 S 0 8 0

Buyers. Sellers. £ S. d. £ S'. d. Big River (Is) .. 0 1 01 0 X 3 Austral (N.Z.) (£!),•• —' 1 1 0 Gillespie’s Beach (Is) —- 0 1 0 Golden Sands (Is) •— 0 X 6 Maori Gully (Is) 0 0 —• Martha (cum div., 5s) 0 10 6 —“*■ Moonlight Gold. (8d) 0 0 4J — New River (Is) 0 0 4i T* Skippers, Ltd. (Is) — 0 0 1 Skippers (pref.. Is) .. — 0 0 6 Australian Mining Broken Hill South (5s) 1 6 0 1 8 0 Mount Lyell (£1) 1 5 6 1 5 10 Mount Morgan (2s 6d) 0 10 6 0 10 9 North Broken Hill (cum div., 5s) 2 2 0 2 2 2 Wellington Alluvials 0 5 1 .—

Ballins Breweries — 0 11 6 Blackball Creek > — 0 1 u Langes Mobile Gas .. — 1 0 0 Ngahere N.Z. Perp. Forests .. 1 14 0 0 1 14 17 0 9 Reece. Ltd.. E. (prcf.) 0 3 0 0 3 3 Selfridges (N.Z.) -— 0 16 0 Tingey, R. and E. T 1 2 0

Sales on ’Change £ s. d. Bank of New Zealand 2 2 u South British .. • • 2 3 6 Farmers’ Auct. (£5) 4 3 0 Pukemiro Collieries .. 0 17 6 Auckland Gas 0 19 9 Dominion Breweries 1 10 6 British Tobacco .. 2 5 0 Broken Hill Pty. 2 12 6 2 11 3 Electrolytic Zinc .. .. 1 lb 6 Electrolytic Zinc (pref.) 2 2 6 2 1 3 2 1 0 Colonial Sugar 4t> 0 0 Taranaki Oil (2) 0 11 9 Woolworths (Sydney) 0 19 10 Mount Morgan .. 0 10 3 0 10 2 North Broken Hill 2 U 0 Unofficial List New Zealand Perpetual Forests 1 IS 0

Sales on ’Chance £ s. d. 3i p.c. Ins. Stock, 1939-43 98 7 6 N.Zj Guarantee Corfan. . . 0 4 2 (Both late Saturday) 3J p.c. Ins. Stock, 1938-52 99 17 6 ‘ 4 p.c. Ins. Stock. 1946 99 17 6 4 p.c. Ins. Stock, 1955 100 6 0 N.Z. Guarantee Corpn. 0 4 2 N.Z. Breweries (3) 1 19 6 Broken Hill Pty. 2 12 1 G. J. Coles (pref.) .. (2) 1 15 3 N.Z. Drug ... 3 9 3 Woolworths, Ltd. (ord.) (2) 0 19 101 ! 0 19 9 Unofficial List N.Z. Perpetual Forests • • 1 14 10}

Morning Sales £ S. d. Bank o£ New South Wales 29 15 0 Tooths .. .. 2 7 0 Associated Newspapers 0 18 6 British Tobacco 2 2 9 Broken Hill Pty 2 10 0 Burns, Philp .. .. 2 8 9 Colonial Sugar .. .. 44 10 0 Electrolytic Zinc .. «. 1 16 0 G. J. Coles .. .. .. 3 12 6 Goldsbrough, Mort .. ... 1 4 6 Afternoon Sales £ s. d. Bank of New South Wales .. 29 10 0 Comm. Banking of Sydney 19 13 0 Colonial Sugar 43 0 Burns, Philp British Tobacco Tooths ... •• •• Tooheys • • «* •* 7 G. J. Coles .. •• •• 3 Drug Houses .. »» •• Australian Glass .. •> 4 Dunlop Perdriau - .. «* Anthony Hordern .. k .. 14 General Industries ... 0 17 Cash Orders .. • • • • Associated Newspapers ~ ; ' Associated Newspapers (pref.) 1 0 Standard Cement 0 18 Woolworths .. • - •• 0 19 Henry Jones .. »• «• 2 3 9 Mount Morgan -• 4» U IU Mount Lyell i. -♦ Broken Hill Pty. ■ * £ Z 11 South Broken Hill •» S X e 0 Rawang Tin .. .* • 0 6 11 Larut .. • Oil Search -» • o 3 9 Emperor •» ♦ Loloma •% •• MELBOURNE Sales £ s.d. Comm. Bank of Australia 0 15 6 National Bank (£5 paid) ... 6 10 6 British Tobacco Carlton Brewery .. G. J. Coles * li Drug Houses Australian Glass .. .. 6 Dunlop Perdriau 0 19 Goldsbrough. Mort .. • ; 1 6 Melbourne Investment Trust 0 10 3 Herald' and Weekly Times 2 14 0 Electrolytic Zinc (pref.) 2 1 Mount Morgan Mount Lyell Broken Hill Pty. , • • Z 11 Broken Hill Ptyv (new) i 13 3 North Broken Hill .. 2 3 5 Emperor 0 Loloma LONDON Buyers. Sellers. £ s. d. £ s. d. Clutha River .. 0 10 0 2 0 Molyneux River .. 0 0 3 0 0 9

£ E. d. £ s. d. 1931 .. 6 6 10 4 19 7 1932 .. 6 10 8 5 8 4 1933 .. 6 14 8 5 18 0 1934 7 3 3 6 6 8 1935 ..7 9 4 6 19 9* 1936 ..7 1 4 6 17 5 f 1937 .. 7 2 ‘ U 6 19 3| 1938 (to Hate) ..7 5 7 6 19 5

RUGBY. September *6. .Par. Sept. 24. Sept. 26. Parte, fr. to £1* 170 17B| 17811-16 New York, dol. to £1 4.866 4.781 4.751 dol. to £1 4.866 4.822 4.79J Brussels, belgas to £1 35 28.421 28.09 Geneva, fr. to £1 25.2215 21.231 2125 Amsterdam. fl. to £1 12.107 8.911 8.991 Milan, lire to £1 92.43 91* 90 7-16 Berlin, reichmarken to £1 20.43 12.0J 12.001 Copenhagen, kr. to £1 18.159 22.40 22.40 Stockholm, kr. to £1 18.159 19.40 19.301 Oslo, kr. to £1 18.159 19.90 19.90 Vienna, schgs. to £1 34.585 — — Prague, kr. , . to £1 154.25 1382 iJH Helsingfors, marks to £1 193.23 2262 2262 Madrid, pesetas to £1 25.2215 — ; — Lisbon, escudos to £1 110 110 3-16 110 3-16 Athens, drach to £1 375 5471 5471 Bucharest, lei to £1 818.60 665 660 Belgrade. dinar* 376.3 214 214 Rio de Janeiro, pence to _ milrelS' .. 4.90 215-16 2 31-32 , Buenos' Aires, /pence to dol. 51 19.02 18.871 Montevideo, pence to peso • 20 20 Bombay, pence to rupee • 17 59-64 17 59-64 Shanghai, pence to rupee • 8J n Hong Kong, pence to yen • 15 15 Yokohama,. pence to yen 24.58 14 14 Batavia, guilders 12.107 8.91 8.901 Warsaw, par^ zlotys to £1 43.38 26.31 26.31 ‘Determined by price of silver. BANK OF NEW SOUTH WALES The Bank of New South Wales quoted the following exchange rates yesterday:— Buying. Selling. N.Z. on £N.Z. to £100 Stg. T.T. 124 124/10/O.D. 123/11/3 124/9/6 Australia — £A. to £100 N.Z. T.T. 100/17/6 100/5/O.D. 100/17/6 100/5/FUi— - £F. to £100 N.Z. T.T, 90/7/6 80 O.D. 90/7/6 89 New York— Dol. to £1 N.Z. T.T. 3.8471 3.8133 O.D. 3.8521 3.8143 Montreal — Dol. to £1 N.Z. T.T. 3.8851 3.8527 O.D. 3.8938 3.8537 Belgium — Belgas to £1 N.Z. T.T. 22.776 22.466 O.D. 22.851 22.471 . Czechoslovakia — Korunas to £1 N.Z. T.T. — 110.75 O.D. — 110.77 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 N.Z. T.T. — 142.48 O.D. — 142.50 Germany— Reichmarks . to £1 N.Z. T.T. — 9.576 . O.D. — 9.578 Greece— ' Drachmae to £1 N.Z. T.T. — 430.75 O.D. — 430.90 Holland— Florins to £1 N.Z. T.T. 7.269 7.119 O.D. 7.309 7.121 Italy— Lire to £1 N.Z. T.T. — 72.481 OX). — 72.506 Florins to £1N.Z. T.T. 71247 7.097 O.D. 7.287 7.099 Norway — • ' Kroner to £1 N.Z. T.T. 16.182 15.892 O.D. 16.242 15.895 Noumea — 140.73 O.D. — 140.77 Papeete — Francs to £1 N.Z. T.T. — 140.88 O.D. — ' 140.92 Sweden— Kronor to £1 N.Z. T.T. 15.787 15.492 '■ O.D. 14.847 15.493 Switzerland — Francs to £1 N.Z. T.T. 17.241 16.971 O.D. 17.346 16.973 Chefoo— N.Z. pence'to dol. T.T. — 12 27-64 i O.D. — 12 27-64 Hong Kong — N.Z. pence to dol. 1 T.T. 18 29-6< 18 53-64 O.D. 18 27-6' 18 53-64 India and Ceylon— N.Z. pence to rup. T.T. 22 7-64 22 25-64 . O.D. 22 5-64 22 25-64 Japan— t N.Z. pence to yen T.T. — 17 9-16 O.D. — 17 9-16 N.Z. pence to peso T.T..30 25-32 '31 7-16 O.D. 30 11-16 31 7-16 Shanghai — „ . . . N.Z. pence to dol. T.T. Not quoted O.D. Not quoted to dol- T.T. 34 13-32 34 37-44 O.D. 34 5-16 1 ’ 34 67-64 “The Press.” the newspapei for the home. -The people « fleet choice. — o