CHRISTCHURCH STOCK EXCHANGE.

Press, Volume LXV, Issue 19805, 18 December 1929, Page 12

CHRISTCHURCH STOCK EXCHANGE.

YESTERDAY'S MARKET. Ther.2 was a good turnover of stocks on call yesterday. Transactions exclusive of vestibule business included: £4OO New Zealand Breweries' Bonds. 50 E., S., and A. Bank. 50 National Bank of New Zealand. T< Bank of New South Wales. •20 Union Bank of Australia. 275 Goldsbrough. Mort (cum div.). 367 Goldsbrough Mort "rights,." 100 Staples Brewery. 100 N.Z. Breweries. 100 Australian Distilleries. 460 British Tobacco (cum div.). 1100 Mt. Lyell (cum div.l. 3AO Wilson's Cement. 1000 Mivhakipawa Goldfielcls. New Zealand Breweries' Bonds were firm with dealings at 2Ss Id and 3Ss 2d. which were buvers' and sellers' closing quotations respectively. English. Scottish, nnd Australian Bank shares had turnover at £7. National Bank of New Zealand shares were easier, with business at £6 13s. Goldsbrough, Morts sold at 375. and the "rights" were firmer, with transactions at 4s 7d. 4s Bd, and 4s 9d, market closing 4s 3d buyers. 4s lid sellers. Staples Brewery shares were weaker, with sales at'o'is lOd, and further buyers offeripjr. 52s Pd, no sellers. Tooths Brewery shares sold at 435, market closing 41s 9d buyers, 42s 6d sellers. Australian Distilleries show an easing tendency with bnsiness at 21s 3d, market closing 3d on either side. British Tobaccos had dealings at 455. 44s 9d, 44s 10* d, 44s Pd. 44s Rd, 44s 7d, nnd 455, closing quotations 44<s 9d buyers, 44s lOd sellers. Mt. Lyells were fractionally firmer, with business at tls 3d. subsequent buyers offering 41s 2d, sellers asking 41s Sd. Wilson's Cement shares had huyers and business at 41s 3d, sellers at 425. Mnhakipawn Goldfields shares had dealings at 4d, which was mid-market price for closing quotations. Bank of New South Wales were firm, with business at £4O 4s. Union Bank of Australia shares changed hands at £l3.

YESTERDAY'S SALES. CHRISTCHURCH.

GEAR MEAT COMPANY. ANNUAL MEETING. [THE PBEBB Spectal SerriM.J WELLINGTON, December 17. In spite of adverse conditions operating throughout the year, the Gear Meat Co., Ltd., was able to present to to-day's annual meeting of shareholders a report and balancesheet entirely favourable. A dividend of Is 9d per share was declared, less the interim dividend of 9d per share paid in June. A bonus of 6d per share from the insurance reserve was also declared, and over £16,000 was carried forward to next year's account. This result, it was stated, had been achieved by sound management and prudent finance. In moving the adoption of the annual Teport and balance-sheet, Mr A. Strang, chairman of directors, pointed out that at the commencement of the season the prospects for mutton and lamb looked encouraging, but towards the end of February it became evident that high prices for lamb would not prevail, and an endeavour was made to meet the position, but the market never recovered. On the contrary, it steadily declned (except for one brief period) throughout the year. This was largely brought about by the drought in England during the early part of the summer which had the effect of forcing anything killable on to the market, and by largely increas?d supplies from South America. Mutton, on the whole, was fairly satisfactory, although the usual fluctuations took place. The market for tallow was disappointing, and a drop of almost £4 per ton took place during the year. Pelts opened well, ami prims were obtained during the best part of the season, bnt for later supplies considerably lower values had to be accepted, and to-day they were almost unsaleable except at very low prices. The same remarks applied to hides. Wool sold well up to and through the May sales, but after that a big drop took place, and lower values have bad to be accepted ever since. The directors had kept shipments very close, and a lar?e portion of the stock was disposed of in Mav. Dealing with future prospects, the chairman said: "The prospects for the coming season for producers or for freezing companies are not so bright ss we are accustomed to hone for. Wool, tallow, and pelts are all realising low prices, and with the generally increased exports of lamb (in which the company is most vitally interested) from South America and Australia, together with the expectation of considerably increased supplies from oi-r shores, ft looks as though a much lower average of values will have to be accepted. Stock hes come through the winter fairly well, although there was a large mortality of old ewes and hoggets in some districts. Owing to the wet and windy weather prevailing, fats are late in coming in, but everything points to a big export season. The flocks of the Dominion this year constitute a record, which has been largely brought about bv the top-dressing of pastures, thus enabling the farmers to carry considerably more stock, and »t the same time to carry it well." The two retiring directors. Sir Francis Bell and Mr A. de B. Brandon, were r#elected. The former, in returning thanks remarked that this ironld hj» his thi<-tv-eighth ZZV,/* J er / !c J on . the Board Th '« hj« considered to be qu.te long enough, and it would be the last occasion on whitfh he would serve.

LATEST QUOTATIONS Buyers . Sellers. £ e. d. £ s. d. N.Z. Government Debentures — 44 per cent. Inscribed. and Bonds, 1038 .. — 100 0 0 &i per cent. Inscribed, 1941 and 1933 99 15 0 — H per cent. Inscribed, 1933 .00 5 0 101 10 0 5J per cent. Bonos, 1933 100 15 0 101 10 0 6J per cent. Inscribed, 1936 101 5 0 101 12 6 Si per cent. Bon<Js, 1936 101 7 6 103 0 0 6£ per cent. Inscribed, 1932 99 IS 0 — Other Debentures— N.Z. Breweries, Inscr. 1 8 0 18 2 N.Z. Breweries, Bonds 1 8 1 18 2 Wellington Gas, 6J per cent., 1931 —. 101 10 0 N.Z. Refrig., 6J per cent., 1935 95 10 0 97 10 0 Banks— Aust. of Commerce 1 9 0 19 3 Camm. of Aust. 1 5 6 1 5 10 Comm. of Aust. (pref.) — 7 4 0 -National of Australasia (£5 paid) .. 7 9 0 — National of N.Z. 6 12 9 6 14 0 New South Wales .. 40 0 0 40 10 0 New Zealand 2 18 2 2 18 6 Union of Aust. 12 18 6 13 2 0 Insurance— A.P.A. (cum div.4 ~ 0 11 9 Loan and Agency— Dalgety and Co. ia is 0 13 0 0 Goldabrough, Mort (cum div.) 1 16 9 1 17 3 (} olds b rough, Mort (rights) TTnitea Building Society 0 4 S 0 4 U 0 15 7 Shipping— Huddart-Park«r — 2 16 Frozen Meat— Canterbury (ord.) S IS 0 7 15 0 Canterbury (pref.) _- 4 15 0 N.Z. Refrig. (£1 paid) 0 11 9 0 12 5 N.Z. Refrig. (10s paid.) 0 4 6 0 4 11 North Canty. Freezing 0 3 3 0 6 0 Coal— "Westport 1 10 0 1 12 0 Crrey Valley — 18 0 GasAuckland 1 4 6 1 4 11 Chri«tchurch (10s paid) — 0 18 8 Breweries— New Zealand .. 4 7 0 4 8 0 Staples .. _ 2 12 9 Timaru (ft* paid) — 0 8 5 Tooths 2 1 » 3 2 6 Ward 0 16 0 White Star 0 11 0 — MiscellaneousAustralian Distilleries 1 1 0 116 Allied Motors .. , 0 3 0 0 4 0 Beath and Co. 1 10 6 Beath and Co. (la paid) 0 7 9 0 8 8 British Tobacco (cum div.) 2 4 9 2 4 10 D.I.C. (10s paid) 1 1 11 13 6 Dunlop Rubber 1 S 0 1 S 9 Electro. Zinc (pref.) '.. 1 13 11 1 14 1 Glenmore Brick and Tile 1 B 0 17 9 Henry Jones Co-op 1 11 4 1 12 6 Howard Smith 1 0 0 113 Mt. Lrell (cum div.) 2 1 2 2 15 N.Z. Drug Co. 3 13 9 3 15 0 N.Z. Farmers' Co-op. (£2 10s paid) 0 15 0 _ N.Z. Farmers' Co-op. (10s paid) 0 1 » N.Z. Farmers' Co-op. (1st pref.) .. 4 0 0 4 2 6 N.Z. Farmers' Co-o-^. ("A" preO S 19 0 N.Z. Farmers' Co-op. ("B" prei.) S i 3 N.Z. Farmers' Co-op. (6£ per cent. Stock, 1939) 90 0 0 91 0 0 N.Z. Farmers' Co-op. ,*i per cent, ritock. 1945) _ 92 0 0 N.Z. Farmers' Fertiliser 1 2 0 12 5 N.Z. Paoer Mills 1 0 6 Quill, Morris 0 13 0 Victoria Nyanza Sugar (cum div.) — 2 3 0 Wilson's Cement 2 1 3 2 2 0 ATOftijramafea Wireless (contr.) 1 1 6 — . Mining— Mahakipawa 0 0 *i n 0 4j Winding CreeV Op r>d.' — 0 3 10 Winding Creek <fi pd.i — 0 l « Stoney Creek >'6d paid^ 0 0 Ti 0 0 10J

Sales on 'Change — £ B. d. New Zealand Breweries (Bonds) 1 8 1 (°2) 1 8 2 Union Bank cf Australia 13 0 0 Goktebrough. Mort (cum div.1 1 17 0 Goldsbrongli. Mort ''rights" 0 4 7 ("2) 0 4 8 (•2) 0 4 9 Staples Brewery i,2) •> 12 10 [ Tooths Brewery i> 8 o 1 Australian Distilleries ... 1 i 3 British Tobacco ''cum dnO •> j p, (2) Mt. Lydl (cum div.} (7> ■2 i 3 Mnhak'ipawa Goldfields <'2 > 0 0 4 Sales Eeported— c 8. d.[ E.. S., and A. B*nk 7 0 0 ! National Bank of New Zealand .... __ ■■■ fi 13 o Bank of Nevr S<nii!i \V.ilo= 40 3 0 GokUbrousrh. Mort (cum ditO C2) 1 17 o British Tobacco (cum div.'i o 1 J i i o n ; - 1 •> .-, « 1 Wilson'» Cement (2) 2 1 3

AUCKLAND. Sale* on 'Change — £ 8. d. New Zealand Brewerit^s (debO 1 8 2 War Loan, 193i>, 4i per cent100 0 0 Commercial Bunk of Australia I o $ New south Wales •U> 2 t> Bank of Now Zealand •2 16 i> I'nion of Australia 13 0 0 Newton King (.pivf.^ O 11 t) Auckland Ga< 1 4 11 New Zealand Farmers' Fertiliser ("2> 1 -2 6 Wilson* Oment 'J 1 0 Ghinemuri 0 i> 3 0 9 1 t> 13 7 Waibi Waihi Grand Junction 0 1 4 Mount Lj ell . . 2 1 4i WELLINGTON. Sales Reported — £ s. d. N.Z. Government 4$ l>er cent. Inscribed stock, 1938 100 0 0 National Mortgage and Agency Company 4 4 0 Mount I.yell •2 1 4| Newton King. prof. 0 11 7 DUNEDIN '. Sales on 'Change — £ s. d. Paddy's Point 0 4 1 0 4 0 Sales Reported — £ s. d. New Zealand Breweries I>ebentures ISO