The ray method is used to study slow hydromagnetic waves in an incompressible, inviscid, perfectly conducting fluid of constant density in the presence of a constant toroidal magnetic field. The fluid is bounded below by a rigid sphere and above by a rigid spheroidal surface, and the mean fluid layer thickness is assumed to be small. Both the general time-dependent and time-harmonic (free oscillation) problems are studied and dispersion relations and conservation laws are derived. These results are applied to free oscillations with constant azimuthal wave number in a spherical shell and then compared to those of previous authors. Such oscillations propagate to the east and are trapped between circles of constant latitude. Wave propagation in axisymmetric shells is then studied with emphasis on the relationship between shell shape and direction of propagation, and it is found that such shells can sustain westward propagating modes wherever the shell thickness decreases sufficiently rapidly from a maximum at the poles to zero at the equator; no shells exist which can sustain westward propagation at the equator.