THE SHARE MARKET

Evening Star, Issue 22460, 3 October 1936, Page 14

THE SHARE MARKET

DUNEDIN STOCK EXCHANGE AUSTRALIAN ISSUES FAVOURED Despite the fact that Monday was observed as a holiday by Stock Exchanges throughout. Now Zealand, business on the local exchange during (he week showed a considerable increase over that for the precedin'* week. Tho improvement in bnsinss was most marked towards the end of this week, and this morning no fewer than 10 sales were recorded. ... Most interest, however, continued to bo manifested in Australian issues, many New Zealand issues revealing a further weakening tendency in anticipation of reduced dividend distributions on account of the Government's taxation policy. The increased land and income taxes are sure to affect future balance sheets of industrial ami trading concerns, while the loss of business by New Zealand hanks through the operation of the Reserve Bank has caused a weakening in the market for these shaves. Investors also realise that Australian issues offer a greater opportunity for capital appreciation, and the brighter Federal Budget has also stimulated interest in Commonwealth securities. The improvement in the market prices for gold and other metals, as a result of the recent international monetary agreement, was responsible for considerable interest in base metal producers during the week, business in Australian mining shares particularly Mount Morgans, being noticeably brisk. Last week Mount Morgans were sold at 13s 2d, but the price fell a further few pence at the beginning of this week, and later began to rise until Thursday, when they reached the high price of 14s lOd. Yesterday, however, a reaction set in following a rather disappointing return from the mine, and business was done at the considerably lower price of 13s lOd, around which figure the market closed firm. Tho market for Government Loans remained very firm, with buyers dominating the quotations. Four sales were recorded in. the 4 per cents., the 1937-40 issues having business at £lO2. Actually the market for Government Loans was the only one to show any real strength.

SALES REPORTED. Bank of New South Wales, £32 12s 6fl. New Zealand Refrigerating (cont.), 9i 3d. Goldsbrough, Mort, £1 13s Bd. Mosgiel Woollen, £9 12s 6d. Australian Glass, £4 12s 6d. Mount Morgan, 13s 10d. Central Shotover, 4d. Woolworths (Sydney), £5 7s 54, Were’s Trust (rights), lid. SALE AFTER CALL. Bank of New Zealand, £1 18s 6d,

DIVIDENDS DUE Howard Smith—Ord., 2) per cent, per annum; pref., per cent Oct. 6 Amalgamated Zinc (De Bavay’s) —Half-yearly, 5 per cent. ... Oct. 9 Amalgamated Wireless—final, 6 per cent, and bonus 1 per cent,, making 11 per cent, per annum Oct. 12 Woolwcrths Ltd.—quarterly, ord. 2 per cent Oct. 15 Woolworths (N.Z.) Ltd.—lnterim pref. £2 14s per cent Oct. 15 Burns, Philp (South Sea) —halfyearly 5 per cent, per annum Oct. 15 G. J. Coles—lnterim, quarterly, 21 per cent Oct. 15 Wunderlich Ltd. —Interim halfyearly. ord., 6 per cent, per annum; Ist and 2nd pref., 6 per cent, per annum; 3rd pref.. 7 pei cent, per annum Oct. 15 United Provisions —pref. halfyearly, at 8 per cent, per annum, ord. 2 per cent, per annum ... Oct. 30 N.Z. Guarantee CorporationFinal, 2d a share. 9 13-18 per cent, per annum ..._ Oct. 30 Imperial Chemical Industries Ltd. —lnterim, 2J per cent., on ordinary shares Ncv. 2

FOREIGN EXCHANGES

ON NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following rates (to-day) for purchase and sales of foreign exchanges (all rates subject to alteration without notice) Buying. Selling.

DOLLAR RATES. The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates to-day on a New Zealand currency basis. They are subject to alteration without notice:— U.S.A. Canada. (Per £1 N.Z.) (Per £1 N.Z.) SELLING— T.T. (dol) 3.95,( 3.95 s O.D. (dol) 3.95 J 3.95| BUYING— T.T. (dol) 3.983 3.982 O.D. (dol) 4.00£ 3.993

PRICE OF GOLD

Press Association—By Telegraph—Copyright LONDON, October 2. (Received October 3, at noon.) Fine gold is quoted at £7 Is an ounce.

Quotations as under:— Buyers. Seller*. £ s. d. £ s. d. BANKING— New Zealand ... ... 1 18 6 1 18 9 Commercial 0 18 2 0 18 6 National of New Zealand ... — 3 0 3 Union of Australia Ltd — 9 12 0 INSURANCE— National — 0 19 0 Standard 3 2 0 SHIPPING— P. and 0. Deferred Stock ■■ 1 11 0 — U.S.S. Co. (pref.) ... 1 6 0 — MEAT PRESERVING— N.Z. Refrigerating 0 6 (cont.) 0 9 1 9 South Otago Freezing — 8 0 0 Waitaki Farmers’ Freezing 4 0 0 4 4 0 LOAN AND AGENCVGoldsbrough, Morfc ... 1 13 6 1 14 0 National Mortgage ... — 2 11 0 N.Z. Loan and Mercantile (ord.) 34 0 0 — N.Z. Guarantee Cor0 8 poration — 5 Perpetual Trustees ... — 3 4 0 Wright, Stephenson (ord.) 0 17 0 COALKaitangata 1 1 0 — Westport — 1 3 1 Westport-Si ockton (ord.) — 0 2 0 WOOLLEN COMPANIES— Bruce (ord.) — 0 14 6 Kaiapoi (cont.) ... —• 0 6 5 Kaiapoi (pref.) — 0 19 6 Mosgiel — 9 15 0 Wellington (pref.) ... — 6 7 0 MISCELLANEOUS— Anthony Hordern ... — 0 19 0 Australian Glass 4 12 6 4 13 3 British Tobacco 2 3 3 2 3 9e Broken Hill Pro6 prietary 3 16 3 3 17 Broken Hill Proprietary (cont.) ... Broken Hill Pro2 16 9 2 17 6 prietary (rights) ... 0 2 6 0 2 10 Brown, Ewing (ord.) 0 17 0 — Brown, Ewing (pref.) 1 2 3 — Crystal Ice Co 2 5 6 — D.I.C. (ord.) 0 15 3 1 — Dominion Fertiliser ... 1 3 9 4 9 Dominion Rubber ... 1 10 0 Donaghy's Rope and Twine 0 2 It — Dunlop Perdriau Rubber 0 37 0 0 17 4 G. J. Coles -- 3 18 0 Hume Pipe — (I 19 0 Kauri Timber — 1 5 0 Milburn Lime and Cement ... _ — 2 3 0 National Electric 0 12 6 — N.Z. Drug Co 3 15 0 -— N.Z. Farmers’ Fertiliser — 1 2 0 General Industries ... — 0 19 4 Cox Bros, (ex div) ... 3 13 0 — N.Z. Newspapers — 9 2 0 0 N.Z. Paper Mills ... 1 6 — ‘ Otago Daily Times ’ — 2 6 0 Regent Theatre — I 1 6 Wilson’s (N.Z.) Cement — 1 17 0 Woolworths (ord.) ... 5 2 6 5 5 0 BREWERIES— New Zealand 2 n 0 2 12 0 Dominion i 31 6 — Tooths 2 15 0 2 15 9 UNLISTED STOCKS— National Tobacco (ord.) 3 3 0 3 5 0 Woolwortbs (Sydney, ord.) Were’s Trust — S 10 0 (rights) — 0 0 11 AUSTRALIAN MINING — Electrolytic Zinc (pref., £1) 2 5 0 — Electrolytic Zinc (ord.," £1) 2 3 0 2 4 0 Mount Lyell (£1)' ... 1 9 4 1 9 9 Mount Morgan (2s 6d) 0 13 9 0 14 0 GOLD MINING— Argo Dredging (Is) 0 1 7 0 1 9 Big River (Is) 0 1 9 0 2 0 Clutha River (2s) 0 1 9 — Gillespie's (Is) 0 1 4 0 1 6 King Solomon (Is) ... 0 0 6 -- Lawson’s Flat (Is) ... — 0 0 4 ■Martha (5s) 0 19 0 1 0 0 Molyncux River (2s) 0 2 0 — Mossy Greek (Is) 0 1 3 — Okarito (5s) ... ... 0 3 6 0 5 0 Paddy’s Point (5s) ... 0 2 0 0 3 3 Waipapa Beach (Is) 0 0 6 0 0 10i Waitahu (5s) — 0 2 3 N.Z. GOVERNMENT LOANS(Bonds quoted are £100 Bonds.) p.c. Stock, Nov., 1953-52 303 15 0 — p.c. Slock, March, 1939-15 101 10 0 — 31 p.c. Stock, Sept. ‘1939-43 101 10 0 — 3i p.c. Stock. May, 1939-52 103 15 0 —

3j- p.c. Stock, 1941-43 , March, 101 10 0 3* ; p.c. Stock, '1941-43 Sept., 101 10 0 3J p.c. Stock, 1941-52 May, 103 10 0 5* p.c. Stock 1941-52 , Nov., 103 10 0 4 p.c. Bonds, 1937-40 101 0 0 — 4 p.c. Stock, 1937-40 — 102 2 6 4 p.c. Bonds, 1943-46 103 15 0 — 4 p.c. Stock. 1943-46 103 15 0 4 p.c. Bonds, 1946-49 105 5 0 — 4 p.c. Stock, 1946-49 105 10 0 — 4 p.c. Bonds, p.c. Stock, 1952-55 105 10 0 — 4 1952-55 105 5 0 —

London— £100 stg. N.Z T.T. £124 £124 10/ O.D. £123 10/ £124 8/9 Australia — £A to £100 N.Z T.T. £101 £100 10/ Fiji— £F to £100 N.Z . T.T. £90 7/6 £89 New York — Dollar to £1 N.Z ... T.T. 3.98J 3.95i O.D. 4.00i 3.95-J Montreal— Dollar to £1 N.Z ... T.T. 3.984 3.95 O.D. 3.99| 3.95* Austria— Schillings to £1 N.Z ... T.T. — 21.08 O.D. - 21.10 Belgium— Belgas to £1 N.Z ... T.T. — 23.345 O.D. — 23.356 Czechoslovakia — Crowns to £1 N.Z ... T.T. — 97.47 O.D. — 97.52 Denmark— Kroner to £1 N.Z ... T.T. 18.203 17.893 O.D. 18.263 17.903 France— Francs to £1 , N.Z. ... ... ... T.T. — 84.70 O.Di — 84.74 Germany— Reichmarks to £1 N.Z ... T.T. — 9.773 O.D. — 9.778 Holland— Florins to £1 N.Z T T — 7.332 O.D. — 7.536 Java— Florins to £1 N.Z ... T.T. — 7.306 O.D. — 7.310 Norway— Kroner to £1 N.Z ... T.T. 16.181 15.891 O.D. 16.241 15.901 Sweden — Kroner to £1 N.Z ... T.T. 15.786 15.491 O.D. 15.846 15.501 Switzerland— Francs to £1 N.Z ... T.T. — 17.137 O.D. — 17.142 Noumea — Francs to £1 N.Z ... T.T. — 83.33 O.D. — 83.39 Papeete— Francs to £1 ' N.Z ... T.T. — 83.48 o.p. — 83.54 Hongkong— N.Z. pence to 1 dollar ... . ... T.T. 18 7-32 18 23-32 O.D. 18 3-16 18 45-64 India and Ceylon — N.Z. pence to 1 rupee ... . .. T.T. 22J 22 21-32 O.D. 22 11-52 22 41-64 Japan— N.Z. ponce to 1 yen T.T. — 17 31-64 O.D. — 17 15-32 Shanghai— N.Z. pence to 1 dollar ... . .. T.T. 17.1 18 O.D. 17 15-32 17 63-64 Singapore— N.Z pence to 1 dollar ... . .. T.T. 34 23-52 35 13-64 O.D. 34g 35 3-16