Investment Market To-day

Evening Star, Issue 23376, 20 September 1939, Page 6

Investment Market To-day

METALS NEGLECTED ONLY THREE VENDORS QUOTING RECOVERY IN B.H.P.'S AND SYDNEY WOOLWORTHS TRANSACTION IN 4 PER CENT. STOCK, 1940-43 While interest remained centred on transtasman scrip, a few selected New Zealand issues were accorded more attention on the investment market this morning. Australian industrials . displayed slight evidence of reviving confidence after yesterday’s setback, but metals remained weak and the section experienced an almost neglected call, only three vendors quoting, Souths and Lyells being on offer at £1 11s and Morgans at the reduced valuation of 10$. Only three Commonwealth industrials were quoted. Broken Hill Pronrietaries recovered to buyers £3 10s, a 2s gain, while Sydney Woolworths . had first purchasers for some days at £1 Is, 2s below vendors’ limits. Tooth’s Breweries changed hands on reported business at £2 11s 6d, best holders asking 6d away. Government loans were accorded good attention. The new 4 per cents. (1940-43) had business at £97 7s 6d, final purchasers offering £97. Bank of New Zealands remained easy' between £1 17s 3d-£l 18s 6d, while insurance scrip retained recent prices. New Zealand Breweries found a low market between £1 10s-£l 13s, but most other stocks finished unchanged. SALES REPORTED. —Late Yesterday.— 4 per cent. Bonds, 1943-46, £9B. —This Morning.— 4 per cent. Stock, 1940-43. £97 7s Cd. Tooth’s Brewery, £2 11s 6d. SALES ON ’CHANGE. —Late Yesterday.— Commercial Bank, 14s 6d \'2). Tl’tft’fWTtl'l'TWl'rf

BEEF BY AIR Distances which cattle must be driven in Western Australia to meat works on the coast is one of the handicaps of the beef industry in the north, but the aid of the aeroplane is now to be enlisted. The Commonwealth Government has let a three years’ contract for an experimental air freight service between the Wyndhnm State meat works in the north of Western Australia ana Alice Springs in the “Centre.” The idea is to kill the beef on the chain of stations along the route and take the carcasses by air to Wyndham, eliminating the loss of quality which 'occurs during droving. ROILING STOCK FOR TURKEY The Turkish State Railways have placed in Great Britain an order for 300 steel hopper wagons of special design for conveying iron ore and coal for the Government steelworks at Karabuk. The approximate value of the order is £500,000. As in the case of the order for 58 locomotives, totalling about £1,000,000, which the Turkish Government recently placed with British builders, the order for wagons will be dealt with under the terms of the Turkish Guarantee Agreement arranged between the Governments of Great Britain and Turkey in May, 1933.

DUNEDIN STOCK EXCHANGE THIS MORNING'S CALL LATEST QUOTATIONS

FOREIGN EXCHANGES Press Association—By Telegraph—Copy right LONDON, September 19. (Received September 20, at 1.30 p.m.) New York, dollar to £1 ... 4.03 Paris, franc to £1 t76i Montreal, dollar to £1 ... 4.43 to 4.47 Amsterdam, florins to £1 ... 7.55 to 7.62 Switzerland, franc to £1 ... 17.65 to 17.85 Stockholm, kroner to £1 ... 16.70 to 16.90 Athens, drachmae to £1 ... 540 Lisbon, escudo to £1 HOI Kobe, pence to yen ... ... Hongkong, pence to dollar 15 Shanghai, pence to dollar 4 Brussels, Belgas to £l* ••• 23.30 to 23.60 Rome, lira to £1 74 MINES AND METALS WAITAHU RETURN The secretaries of the Waitahu Gold Mining -.Company Ltd. report that stripping operations in No. 20 paddock resulted in a return of 30oz 6dwt. The elevator is now being set up, and further ground is being stripped.

dollar rates The Associated Banks (other than the Bank of New South Wales) to-day quoted the following dollar rates on a New Zealand currency basis. They are subject to alteration without notice. (Per £1 N.Z.) (Per £1 N.Z.) U.S.A. CANADA. SELLING— T T (dol) ... 3.05 5-8 3.38 7-16 O.D. (dol) ... 3,06 3.38 13-16 BUYINGO.D. (dol) ... 3.29 9-16 3.62 3-4 GOLD STABLE Press Association—By Telegraph—Copyright LONDON, September 19. (Deceived September 20, at noon.) Gold was held at £8 8s a fine ounce.

□vers. ♦Sellers. £ s. d. £ s. d. N.Z. GOVERNMENT LOANS4 p.c. Sti ck. Sept., 1940-43 97 0 0 — 31 p.c. Stock, March, 1941-43 96 0 0 — 34 p.c. Stock, Sept., 1941-43 96 0 0 —- 4 p.c. Stock, March. 1940-43 97 10 0 4 p.c. Bonds, L943-46 97 10 0 — 4 p.c. Stock, 1943-46 — 98 5 0 4 p.c. Stock, 1954-58 — 97 5 0 BANKING— Now Zealand (£1) ... 1 17 3 1 18 6 National of New Zealand (£2 10s) ... — 2 6 6 INSURANCE— National (7s) 0 16 6 __ New Zealand (£1) ... 2 12 0 — Standard (£1) 2 14 0 2 15 0 SHIPPING— Howard Smith (£1) — 1 2 0 U.S.S. Co. (pref., £1) X 4 9 — MEAT PRESERVINGN.Z. Refrigerating (paid. £1) 0 16 3 —- N.Z, Refrigerating (cont., 10s) 0 8 6 LOAN AND AGENCY— Trustees Executors, and Agency (£3) ... 4 0 0 COAL— Westport. (10s) 1 0 9 — Westporl-Stockton (ord., 10s) — 0 4 0 GASAuckland (£1) — 0 15 6 Christchurch (£1) 1 3 3 X 4 0 WOOLLEN COMPANIES — Bruce (ord., £1) — 0 10 0 Bruce (pref., £1) ... 0 18 0 Kaiapoi (ord., 17s) ... — 0 IZ 0 Kaiapoi (pref., 17s) 0 14 0 — Mosgiel (£4) 9 Z 6 — Oamaru (£1) 0 16 0 — MISCELLANEOUSBroken Hill Proprietary (£1) 3 10 0 3 13 6 Brown, Ewing (pref., £1) — 1 i 0 D.l.C. (ord.. 10s) ... — P 14 9 D.I.C. (pref., £1) ... 1 1 9 — Dominion Fertiliser (£1) 1 3 9 — Dunlop Perdriau. Rubber (£1) — (J 19 O Milburn Lime and Cement (£1) 1 15 0 — M’Kenzies Dept. Stores (£1) — 2 3 6 N.Z. Drug Co. (£2) 3 7 9 — N.Z. Paper Mills (£1) — 1 6 0 ‘ Otago Daily Times ’ (£1) 1 19 6 2 0 6 Wilsons Cement (10s) 0 16 3 0 16 9 Woolworths (Sydney, ord, 5s) 1 1 0 1 3 0 BREWERIESNew Zealand (£1) ... 1 10 0 1 13 0 Tooth’s (£1) i 2 12 0 OVERSEAS MINING— Broken Hill South (5s) — 1 11 0 Mount Lyell (£l) ... — 1 n 0 Mount Morgan (2s 6d) 0 10 0 N.Z. MININGAustral N.Z. (£1) ... — 1 4 0 Big River (Is) 0 0 6 0 1 0 Nokomai (5s) 0 1 6 0 2 0 Okarito (5s) 0 2 3 0 3 0 Waitahu (5s) 0 1 0