CHRISTCHURCH STOCK EXCHANGE.

Press, Volume LXV, Issue 19715, 4 September 1929, Page 12

CHRISTCHURCH STOCK EXCHANGE.

There was a good turnover of stocks on dte.ll yesterday. Markets were firm and there was g<"od enquiry for most classes of stocks. The turnover, exclusive of vestibule business, included: — 20 National Bank of Australasia (£lO paid". 10 B.tnk of New South Wales. 100 A. T \A. Insurance. 200 N.Z. Refrig. (10s paid). 1160 N.Z. Refrig. (£1 paid). 200 New Zealand Breweries. 100 Timaru Brewery 5s paid. 100 Beath and Co- (Is paid). 50 British Tobacco. 1) Colonial Sugar. 200 Dunlop Rubber. 100 Henry Jones Co-op. 300 Mt. Lyell. 200 Winding Creek (Is paid).

National Bank of Australasia £5 paid shares hardened to £& 13s 9d and there were further sellers at that figure, buyers at £9 12s 9d. Bank of New South Wales shares advanced to £sl 15s. Other bank S:oeks held at late rates. A.P.A. shares moved up to 14s 3d, closing quotations Id on either side. N.Z. Leirigerating Co. fully paid shares had turnover \t prices ranging from 14s 5d to 14s 9d —the 10s paid shares were firm at 6s Sd. Buyers of Grey Valley Collieries shares raised their limits to 26s 9d without attracting sellers. New Zealand Breweries showed an easing tendency with dealings at 843 lOd, and 84s 9d, and further sellers at 84s 9d, buyers at 84s Sd. Timaru Brewery 5s paid shares were a trifle weaker at 8s 9d, buyers and business, sellers at 8s lOd Beath and Company Is paid shares were stronger at 9s lOd. British Tpbaceo shares remained at. 49s 3d, but closed stronger at 50s Id buyers, 50s 5d sellers. Colonial Sugar shares realised £57 10s. Dunlop Rubbers were taken at 29s Id, market closing Id either side. Henry Jones Co-op. shares were firm at 33s lOd. Mt. Lyells jumped to 45s 9d, 45s lOd, 45s 9d, and 45s Bd. Winding Creek Is paid snares were unaltered at Is lOd. N.Z. Farmers' Fertiliser shares claimed stronger buyers at 22s Id, sellers at 245.

YESTERDAY'S TRANSACTIONS. (Figures in parentheses after sales indicate number of parcels.) sales on Cn&nge—A.P.A Insurance, i4s 3d; N.Z. Being. \£l paid), 14s 6d (2), 14s 6d 1.2), 4s 7d; New Zealand Breweries, £4 4s lOd, £4 4s 9d; Timaru Brewery (as paid), Ss 9d; death and Co. (13 paid), 9s lOd; Dunlop Rubber, 29s Id (2); Mt. Lyell, 45s' 9d (2), 45s iod, 45s s)d (2), 45a 8d; Winding Creek (Is paid), Is ICd Sales Reported—National Bank of Australasia .£5 paid). £9 ISs 9d; Bank of New South Wales, £sl 15s; N.Z. Refri? (£1 paid), lis Sd; British Tobacco, 49s 3d; Colonial Sugar, £57 10s; Henry Jones Co-op.. 33s lOd. LATEST QUOTATIONS. Buyers. Sellers. £ e. d. £ b. d. N.Z. Government Debentures—--4£ per cent Inscribed, 19J3 and 1939 .. iOO 2 6 4i pev cent. Bonds. 1930 .. 99 7 6 100 0 0 4| per cent. Bonds. 1936, 1939, and 1941 100 8 6 5i per cent Inscribed, 1941 5J pe'- cent. Inscribed, 1933 .. .. 101 10 0 5j per cent. Bonds. 1533 .. 101 JO 0 101 15 0 5) per cent. Inscribed. 193G .. . 101 15 0 5} per cent. Bonds, 1936 .. 101 15 0 Other Debentures—

Buyers. Sellers. . - . * •• d. £ e. d. N.Z. Farmers Co-op. l"B" pref.) .. 3 x , , 5 0 N M. Farmers Co-op. (6} per cent. Stock, 1940) .. ■ 92 10 8 N.Z. Farmers' Co-op. (6J per cent. Stock, 1945) .. 92 0 o - N.Z. Farmers Fertiliser 1 2 l 14 0 N'.Z. Paper Mills 10 3 10 6 Quill, Morris (ex dir.) 014 9 016 6 'taranata Oil .. _ 0 4 5 Victoria Nranza Sugar „., (ex . d £- ) • •• » 6 0 2 6 9 WiJson 8 Cement 2 4 3 4 4 6 British American Tot> ■^ C ? ••;*.._'• 6 «0 8150 British ImpenaJ Tobacco 5 0 0 Mining— Kildare ... ~ 0 410 0 5 0 Kawarin .. ..002008 Waha.'npawe, ~ .. 0 o 2J 0 0 3 Mt. lea .. % . 219 22 6 Ohinemuri .. .. 010 6 011 0 Okarito ~ •• 0 1 3 o 111 Winding Creek (6d pd.) 0 1 7 0 19 Winding Creek <ls pd.) 0 1 9 0 110 Kuala Kampar x ex div.) 013 5 014 0 OTHER EXCHANGES. (PRESS 4.BSOCIATIOH rEXEOIASIg.) AUCKLAND, September 3. Sales —I.jw Zealand Breweries' Debentures, £1 8s 4d; Australian Bank of Commerce, £1 16s; Grey Valley Coal, £1 7s; Taupiri (rights), 6s 9d; Auckland Ga3, £1 43 6d; P. and O. (deferred stock), £2 16s 6d; Colonial Sugar, £57 10s; Sanford, Ltd., 18s sd: Waihi, 13s 2d; Waihi Grand Junction,. Is 3d; Mount Lyell, £2 5e 9d; Commercial Bank of Australia, 29s lOd; National Insurance, 16s 8d; Farmers' Trading Company, 9s 7d. WELLINGTON, September 3. Sales—Union Bank of Australia, £ls 2s and £ls 2s 6d; National Bank of Australasia (£5), £9 14s; Union Bank of Australia, £l3 2s 6d. DXTN'EDIN, September 3. Sale—E., S., and A. Bank, £8 Bs. Sale Reported—N.Z. Refrig. (cont.), 8s 9d. METALS. (UNITED FBKSS ASSOCIATION —BT ELECTBI*; TELEGBAPH COPYBIGHT.) IX7NDON, September 2. Aug. 29. Sept. 2. (per ton.) (pel ton.) Copper— £ s. d. £ a. d Standard, spot 73 18 9 75 3 9 Standard, lorward 74 16 7J 75 18 9 Electrolytic .. 84 10 0 84 5 0 to .. .. 84 15 0 84 15 0 Wire bars .. 84 15 0 84 15 0 LeadSpot .. .. 23 8 9 23 11 3 Forward .. . 23 11 3 23 7 6 Spelter— Spot .. .. 24 16 10J 24 1 3 Forward .. .. 25 2 6 24 15 0 TinSpot .. .. 208 0 0 20S 7 6 Forward 212 1 3 210 7 6 Silver — Standard, oz. .. 24 5-16 d 24 3-15 d Fine, oz. .. 26Jd 26Jd —Australian Press Association, TJnited Service

HOLDEN'S MOTOR BODY BUILDERS. Although adverse business conditions prevailed during the greater part of the year ended June 30th iaat, the volume of sales of Holden's Motor Body Builders, Ltd., represented 1.2,324,020, as aga.nst j.2,150,27 i in the previous year. The company is reaping the benefits of the plant reorganisation, which was completed early in the year. With an improved lay-out and up-to-date machinery the company has been able to improve the quality of its motor bodies. A feature of car sales in Australia has been a steady increase in the demand for closed cars. For 1929-dO the company expects to enjoy a turnover slightly larger than that of the previous year. Disclosed trading profit for the year was £257,792. of which £45,000 was earned for taxation, and £103,332 for plant and building reserves, leaving an actual net profit of £109,460. With £20,119 brought into the accounts, £129,579 was available. Dividends at the rate of 8 per cent, on preference and 10 per cent, on ordinary shares together absorbed £106,400, leaving £23,179 to be carried forward. The company's finances are in a Bound condition, the ratio of liquid assets to curcent liabilities beinK over £7 to £l. Reserves provided against buildings, plant, and ma hinery rover depreciation and obsolescence as well, and now appear in the accounts at £309,925. The general reserve totals £135,550. KAIKOURA CO.-OP. DAIRY CO., LIMITED. The 35th annual meeting of shareholder* of the Kaikoura Co-op. Dairy Company, Ltd., was held on Monday evening, Mr George Smith presiding. The butter account showed a turnover of £43,715. Sales totalled £43,345, and payments to suppliers £34,764. The cost of manufacture was £8157. There was a profit of £2679, whieh the directors proposed to allocate as follows: —Cash bonus £2114, dividend of 6 per cent. £397, carry forward £167. The quantity of butter manufactured was 273) tons, as against 241 tons last year, when the cost of manufacture was £8283. In moving the adoption of the report and balance-sheet, Mr Smith congratulated the manager (Mr J. A. Ross), the secretary, and staff on the excellent results. The position was most satisfactory. The secretary (Mr R. T. Pope) said the company had experienced its best season in respect to output and returns. Expenses had been reduced to a minimum, and the manager had ereated a record regarding cost of manufacture. • Questions were invited and answered, and the balance-sheet was adopted. Mr P. W. Adair having advised that he would not seek re-election to the directorate, Mr George Eaton- was elected in his stead. There were four candidates for the position of anditor, and Mr A. Gooch was elected. At a subsequent meeting of the directors Mr G. Smith was elected chairman. DOMINION RUBBER COMPANY. • •-■™~ — (THUS ASSOCIATION TXLXOBAM.) DtnSTEDIN, September 8. Tho secretary of the Dominion Rubber Company has received caVe advice from the estate that the crop of ruTber harveated for August waa 42,9541b. DUNEDIN RABBITSKIN SALE. (SPECIAL TO THE PBBS8.) DUNEDIN, September 8. Average-sized catalogues were offered at to-day's rabbitskin sale to a full attendance «rf buyers Bidding was very keen for the best grX of wintfr .kins, and these can be nuoted 4d to 7d per lb advance, and autumn Staa also. The lower grades met with good competition, and can be quoted firm at last 80 Quotations: Weevily. 26|d to 44d; second broken, 30d to. 48d; autumn broken 44Jd t« 47d- first winter broken, 46Jd to &£>* a, runnerV and suckers. 25d to 39id; summers via tn 371 d: summer bucks, d4ja to 41*1; light racks. 43d to 491 d; prime racks 48d to 494 a; dewy "tumns 48d to 49id; early autumns, 503 d to 531 d; autumns, 53« d to 62id; second incoming 491 dto 54Jd; incoming winters, 731 d toTsoidf early winter, 78d to 92Jd; first spotted winters, 70d to 78d; second winter bucks, 69d to 741 d; second winter to 96id; first winter bucks, llOd to Usld; first winter does, lljid to 122 d; prime bucks, ll«d to 120 Id; prime does, 127Jd to 1303*»; second spotted wintors 44id to 55Jd; outgoing, 46Jd to ksd- springs, 42Jd to 46|d; milky, 35d to ?23d- fawn, 70|d to 90d: winter fawn, HOd to 116 - summer black, 40d to 451 d; autumn black. 45d to 50Id; first winter black, 72d to 80d- second winter black, 54d to 6la; hareskine, 37|d to 54Jd; horsehair, 15d to 18d. t RATES ON LONDON. (VBBSS ASSOCIATION TKLSGBAH.) WELLINGTON, September 3. The acting-chairman of the Associated Banks announces that as from September 4th the buying rate of exchange on London will be decreased a quarter per cent, all round, and the selling rates increased a quarter per cent, an round. . A similar alteration has been made in Australia. _____ EGG AUCTION. Messrs Harris Bros., Ltd.. report that the usual weekly Buction Bale of "Feather Brand'' guaranteed fresh eggs was held yesterdav afternoon. The following prices were realised :—Hen eggs. Ist grade (2oz cr over) Is 3d; Ken eggs, 2nd grade (under 2oz), is Id. «—•

Grey Electric Power, 5| per cent., 19G5 — 102 0 0 Dargaville Borough, 5i per cent., 1966 ■— 100 10 0 N.Z. Breweries, ln»cr. i e 0 1 8 4 N.Z. Breweries, Bonds 1 8 8 1 8 4 Giaxo, 6J per cent.. 1945 91 10 0 _ Fullers' Pictures. 6i per cent., 1949 _ LOO 10 0 N.Z. Refrig., 6i per cent.. 1935 — 100 15 0 Banks— tl Adelaide 9 18 6 10 2 6 Aust. of Commerce 1 15 9 1 16 0 Australasia (cum div.) 14 9 0 14 10 0 Uomm. of Auet. 1 9 9 1 3 10 Uomm. of Aust. (pref.) 7 8 0 7 9 6 Comm. of Sydney 26 5 0 26 10 0 E., S., and A. 8 8 0 8 9 6 National of Australasia (£10 paid) 19 13 6 19 14 6 National of Australasia <£S paid) .. 9 13 9 National of N.Z. 6 19 0 New South Wales .. 51 12 6 51 15 0 New Zealand 8 2 9 8 3 0 Queensland National ., 9 14 0 Union of Aust. 16 1 6 18 3 b Insurance— A.P.A. 0 14 S 0 14 4 National .. .. 0 16 6 0 16 8 New Zealand «■ „ 2 8 3 Queensland 8 8 6 South British S 5 3 3 6 6 United 10 9 0 10 15 0 Loan and Agency— Dalgety and Co. 15 1 0 15 8 0 Goldsbrousrh, Mort 2 7 0 2 7 6 National Mortgage 4 6 9 4 7 9 N.Z. Guarantee Corpn. 0 9 5 0 9 7 United Building Society 0 15 6 0 16 0 Shipping — Adelaide Steamship 1 0 9 1 1 9 New Zealand (pref.) .. 9 5 0 __ P. and O. Deferred Stock 2 18 8 8 0 0 Frozen Meat — Canterbury (ord.) 8 8 0 6 12 6 Canterbury (pref.) 4 19 0 6 1 0 N.Z. Refrig. (£1 paid) 0 14 7 0 14 9 N.Z. Refrig. (10s paid) 0 6 8 0 6 11 North Canty. Freezing 0 17 0 1 1 0 Woollens— Kaiapoi (cum div., Its paid) 0 18 10 0 14 3 Kaianoi (7s paid, earn div.) 0 4 9 0 S 4 Kaiapoi (pref., cum div.) 0 16 0 0 17 0 Coal— / Stockton (ord.) 0 8 1 0 3 8 Grey Valley .. ». 1 6 9 Taupiri (rights) 0 5 0 0 8 9 Gas— Ashburton S 10 0 Auckland 1 4 0 1 4 6 Aust. Gaslight 7 2 6 Christchurch 1 6 3 Christchurch (10s paid) 0 18 0 0 13 6 Breweries— Carlton 2 8 0 2 8 3 Fosters „ ,. 3 15 0 4 0 0 Monteith's .. ,. 1 0 9 1 4 0 Aew Zealand .. 4'4 8 4 4 9 Staples 2 13 4 2 14 0 Queensland 1 10 6 Ximaru 0 17 3 Timaru (10s paid) 0 8 9 0 8 10 Tooheys ' .. .. 1 17 S 1 17 9 Tooths ,. 2 14 9 2 16 0 Ward „ 1 9 3 1 13 0 White Star „. 0 6 0 0 12 0 MiscellaneousAustralian Distilleries 1 1 0 1 2 3 Allied Motors 0 2 9 0 4 0 Australian Iron end Steel (pref.) 1 1 3 1 2 0 Heath and Co. 1 13 1 1 14 0 Beath and Co. (Is paid) 0 9 9 0 9 11 British Tobacco 2 10 1 2 10 5 Burns, Philp .'. 2 7 7 2 8 3 Colonial Sugar ,. 57 5 0 57 12 6 D.I.C. (10s paid) 1 3 6 Fullers' Pictures .. 1 0 0 Dunlop Rubber 1 9 0 1 9 2 1 .-'aet African Coffee .. 1 19 9 Electro. Zinc (ord., cum div.) I 18 6 1 IS 3 Electro. Zinc (pref.. cum div.) 1 18 10 1 19 4 Glenmore Brick and Tila 1 4 e 1 8 6 Greater Crystal Palace 1 2 o Henry Jonee Co-op. 1 13 8 1 13 11 Hayward's Pictures 1 0 0 Holden'o Motors (cum div.) 1 8 0 Mt. Lyell " 2 5 8 2 5 9 N.Z Drug Co. (cum div.) N.Z. Farmers' Cc-op 8 15 0 8 18 0 (10*3 paid) .. ' _ 0 4 3 N.Z. Farmers' Co-op (1st plef.) __ 4 16 0 N.Z. Farmer*' Cc-ot>. ("A" preii „ lit • IU 0