STATE CONTROL.

Auckland Star, Volume LXVII, Issue 102, 1 May 1936, Page 4

STATE CONTROL.

EFFECT ON INDUSTRY.

NORTHERN ROLLER MILLS

The manner in which the position of the Northern Roller. Milling Company lias been affected by recent Government legislation was referred to at yesterday s annual meeting of the company by the chairman of directors, Mr. John Hellaby, who said: — .'Tor the past 36 years this null has been progressive with the growth of the city. Capital expenditure has been made in order that the demand should be met. Our product lias been sought for _ the baking trade and public of this province, the plant being run to its full capacity. The recent legislation has checked this progress. The profit for the coming year has been arbitrarily cut down, our contact with our customers broken, sales of Hour, etc., being made through the flour section of the Wheat Board Office in Auckland.

"Our allocation of wheat for gristing was made on our average of the past three years. This is not enough to keep our mills running to full capacity; certain shifts have had to -stop. Through this legislation tho shareholders of this company have had their savings or investments reduced by £125,000, this being the discrepancy in value of our shares twelve months ago and now." WOOL TRADE. DUNEDIN RETURNS. (By Telegraph.—Press Association.) DUNEDIN, Thursday. The returns from the four wool sales already held in Dunedin during the current season show that the Otago wool cheque totals £1,657,029, representing the disposal of 111,332 bales. At the corresponding four sales of the 1934-35 season 78,558 bales were marketed, and the realisation was £776,241. The average price per bale this season has been £17 17/8, compared with £10 10/8 for the four principal sales in 1934-35. The average price per lb has been 10.63 d, compared with 7.64 d. LONDON SALES. Messrs. Dalgety and Company, Limited, report:—For the sales opening on May 5, the list of arrivals closed on the 27th instant. The following vessels in which we are interested have arrived in time: Orari. Waiwera, Remuara, Wairangi, Mataroa, Eangitiki, Empire Star, Matakana, Port Chalmers. Sales close on May 15. SOUTHERN EXCHANGES. TO-DAY IN CHRISTCHURCH. (By Telegraph.—Special to "Star.") CHRISTCHURCH, this day. Markets were subdued on call this morning though values showed little change, except among some Australian issues, which recently have risen to peak levels. Among the banks sellers predominated, and only three buyers were quoted. These were for Commercial of Australia (pref.) at £9 16/, Nationals of New Zealand at I £3 14/, and Unions at £9 12/6. National insurance rose to 19/ in reported business, the market closing buyers 18/10, sellers 19/3. Dalgetys provided a might spot, with buyers coming sharply to £9 .5/, though sellers retired to 10/ above. Grey Valley Coal, which yesterday had dealings at 12/, were easier, and sellers asked 11/9. Timaru Brewery was easier at sellers 15/1, buyers 14/9, no business resulting. Glass, Broken Hill Proprietary and British Tobacco seemed easier ill the miscellaneous section. Other values were fairly steady on the basis of recent quotations.

(By Telegraph.—Press Association. > WELLINGTON, Thursday. Wellington Woollen, £0 2/; New Zealand Breweries, £2 12/3 (2 parcels); Broken Hill Proprietary, £3 1/ (2 parcels) ; New Zealand Drug, £3 10/0 (2 parcels) ; Moun't Lyell, £ 1 5/ ; Mount Morgan, 10/1. i Unofficial.—Hawke's Bay Farmers' Co-op., I £3 12/0; Westland Breweries (£1 paid), j £1 2/IJ. CHRISTCHURCH, Thursday. National Bank of New Zealand, £3 15/; New Zealand Insurance, £3 1/0; Guarantee Corporation, 5/5; Anthony Hordern, 19/7; Dominion Fertiliser, £1 5/0, £1 5/7; Dunlop, Perdrlau, 15/8; G. J. Coles, £3 12/0, £3 13/; Hume Pipe (Australian), 10/11 ; New Zealand Refrigerating (£1 paid), £1; Grey Valley Coal, 12/; Mount Lyell, £1 5/; Mount Morgan, 10/ (2 parcels) ; Skippers, 3jd. CHRTSTCHI'RCH, this day. Commercial Bank of Australia, £1 0/1; National Insurance, If)/; Colonial Sugar, £41 12/0; Greater Crystal Palace. !)/0; Upper Watut, 7/ ; National Bank of Nett Zealand £3 15/. DUNEDIN, Thursday. Standard Insurance, £3 3/; G. J. Coles, £3 13/. DUNEDIN, this day. Sales Reported.—Southland Frozen Meat (ord.), £3 10/0; Bruce Woollen (prcf.), £13/; Broken Hill South. £5 14/; Bank of New Zealand, £2 0/10. AUSTRALIAN EXCHANGES. SYDNEY, April 30. Steadiness in prices was a feature of dealings in the investment market on the Stock Exchange to-day, when a moderate turnover was recorded. Profit-takers caused an easing in prices for Australian Glass and British Tobacco.

This morning's sales were: —Commonwealth Bonds: 3% per cent, 1948, £96; 3% per cent, 1943, £99 10/; 3% per cent, 1947, £100 15,4; 4 per cent, 1941, .-6102 16/3; 1944, £102 2/6; 1947, £102; 1949, £101 5/; 1961, £102 10/; Bank of New South Wales, £33 10/; Tooths, 53/6; Anthony Hordern, 20/; Australian Glass, 90/; British Tobacco, 40/9; Broken Hill Proprietary, 61/3; Dunlop-PeVdriau, 16/; G. J. Coles, 73/6; Millaquin Sugar, 38/3; Morris Hedstrom, 26/.

Later business included: Bank of New South Wales, £33 10/; Commercial Bank of Sydney, £20 14/; Colonial Sugar, £42 2/6; Australian General Insurance, 16/6; Automatic Totalisator, 20/6; Howard Smith, 17/9; British Tobacco, 40/3; Tooths, New Zealand delivery, 53/3; Toolieys, 30/6: Carlton Brewery, 53/3; Queensland Brewery, 30/; G. J. Coles. 74/; Drug Houses, 30/3; Australian Glass, 89/6; Dunlop-Perdriau, 16/1%; Goldsbrough, Mort, 31/9; Wilcox, Moft'lin, 11/3; Morris, Hedstrom, 26/; Millaquin Sugar, 38/3; Farmers, 28/9; David Jones. 45/6; Lustre, 23/9; Henry Jones, 41/; Marcus Clark, 7/7; Peters, 43/; R. Fowler, 14/; Union Theatres, preference, 15/9; United Provisions, 13/9; Broken Hill Proprietary, 61/6; new issue, 36/6; South Broken Hill, £5 13/6; Kuala Kam par, 15/3; Rawang Tin, 9/6; Larut Tin, 11/3; Pucliong Tin, 19/1%; Renong Tin, 26/6; Tavua, 2/6; Loloma, 19/6; Emperor, 11/9; Commonwealth Bonds, 4 per cent, 1938, £102 12/6; 1941, £103; 1944. £101 7/6; 1947, £102; 1953, £102 15/; 1959, £101 5/; 1961, £102 10/.

Melbourne sales were:—Commercial Bank of Australia, 20/4; National Bank (£5 paid), £7 11/; Union Bank, £9 18/; Metropolitan Gas, £14 4/; Electrolytic Zinc, preference, 40/6; Australian Glass, S9/; Mount Lyell, 25/3; Koroere, 4/6; Loloma, 19/5.