STOCK EXCHANGES

Press, Volume LXX, Issue 21323, 16 November 1934, Page 13

STOCK EXCHANGES

CHRISTCHURCH YESTERDAY'S TRANSACTIONS There was a moderate turnover on call yesterday, and prices of several stocks showed improvement. Transactions, exclusive of vestibule business, were:— Sales on 'Change £ s. d. 102 National Bunk of N.Z. 3 11 6 3 12 0 45 Reserve Bank (4) 6 12 0 100 Goldsbrough, Mort .. 1 11 1 200 N.Z. Rei'rig. (10s paid) (2) 0 10 0 100 Kaiapoi Woollens (17s paid) .. .. 0 16 0 15 Mosgiel Woollens .. 11 0 0 100 Christchurch Gas .. 1 14 9 100 Anthony Hordern .. 0 17 3 100 Electro. Zinc (pref.) 1 15 0 300 Bell Hooper .. 0 0 5 500 Big River .. .. 0 17 550 Gillespie's Beach (2) 0 18 200 Golden Sands .. 0 2 8i 1000 Lawson's Flat . • 0 0 3 500 Maerewhenua .. 0 0 41 300 Mount Lyell '2) 0 17 0 (3) 0 17 1 0 17 2 300 Worksop Extended .. 0 3 3 Sales Reported 40 E., S., and A. Bank 5 2 0 100 Mercantile Mutual In. 15 0 25 Dalgety and Co. (cum div.) .. .. 9 2 6 100 N.Z. Guarantee Corp. 0 5 6 300 N.Z. Refrig. (10s pd.) 0 10 0 100 Christchurch Gas .. 1 14 9 13 Colonial Sugar .. 74 0 0 200 N.Z. Newspapers (late sale 14th) .. 1 13 3 450 Glenroy .. 0 0 11 £895 N.Z. Govt. 4 p.c. Ins. Stock, 1055 .. 113 0 0 Bonds and Bank Shares New Zealand Government 4 per cent, stock, due 1955, was firm with buyers and business at £ll3. E., S., and A. Bank shares were easier at £5 2s, market closing £5 Is Gd buyers, £5 3s fid sellers. National of New Zealand had dealings at 71s 6d and 725, buyers staying in at the higher price, sellers at 78s. Bank of New Zealand cum dividend were easier with sellers at 49s 9d. Reserve Banks changed hands at £6 12s, market closing 3d either way. Miscellaneous Mercantile Mutual Insurance had business at 255, and late buyers at 24s 9d failed to attract sellers. Dalgety and Company cum dividend were firm with buyers and business at £9 2s (id. Goldsbrough, Morts moved up to 31s Id, sellers staying in at that price, buyers at 30s lid. New Zealand Guarantee Corporation remained unaltered with buyers and business at 5s (id. New Zealand Refrigerating 10s paid, were firmer with buyers and dealings at 10s, sellers at 10s 2d. Kaiapoi Woollens 17s paid rose to 16s, market closing 15s 9d buyers, 15s lid sellers. Mosgiel Woollens were easier with sellers and business at £ll. Christchurch Gas advanced to 34s 9d, buyers staying in at that price, sellers at 35s (id Sellers of Mew Zealand Breweries reduced their limits to 49s 6d, buyers at 49s lid. Anthony Horderns were easier with buyers and business at 17s 3d, sellers at 17s sd. Australian C-iass were firmer on buyers' offers 56s 2d. Colonial Sugars remained unaltered at £74, market closing £74 buyers, £74 15s sellers. ElectrolyticZinc preference were weaker with buyers and business at 355. A late sale of New Zealand Newspapers on November 14 was reported at 33s 3d, buyers to-day offered 33s without attracting sellers. Mining Bell Hoopers were steady with business at sd. Gillespie's Beach appeared easier with buyers and business at Is od, sellers at Is BAd. Gienroys were inn at lid. Golden Sands chanr-d hands at 2s BJd and there were further buyers at 2s 7Jd, sellers at 3s Bawsons Flat had business at 3d and more were offered at that figure, buyers at <*-, d. Maerewhenua were slightly weaker at 4Jd, closing quotations 4d buyers, 4.? d sellers. Mount Lyells had dealings at 17s, 17s Id, and 17s 2d buyers staying in at the highest price! sellers at 17s 4d. Waihis were firmer i°vf„ i y^ rS ' ofi '^ S 37s lld - Worksop Extended moved up a point to 3s 3d sellers staying in at that price, buyers

UNLISTED STOCKS All transactions in stocks quoted in this section are subject to a different rate of brokerage from listed stocks, and are not quoted on the official list.

DAIRY PRODUCE

DEMAND EASIER The South Island Dairy Association, Ltd., has received the following market report from the New Zealand Produce Association, Ltd., London:— Butter—Steady, 70s to 78s; Danish, 12as. Cheese—Quiet— White, 52s 6d to 53scoloured, 52s to 52s 6d. A. H. Turnbull and Company are in receipt of a cablegram from their principals, Messrs W. Weddel and Company, Ltd., dated London November 14, as follows: Danish butter, 1245; New Zealand finest, 75s to 775: Kangaroos, 74s to 765. Butter demand has declined. New Zealand cheese, white, 52s to 535; New Zealand cheese, coloured, 51s 6d to 52s 6d. Cheese market dull with downward tendency. The New Zealand Loan and Mercantile Agency Company, Ltd., advise that they have just received a cablegram from their London office under date, November 14, giving the market quotations as follows:—• Butter—New Zealand choicest salted, 75s to 775. Cheese—White-, 535; coloured, 525. Markets slow. VACUUM PACKING EXPERIMENTS WITH N.Z. EXPORTS BETTER PRICE OBTAINED LONDON, November 14. Sir Francis Price presided at a luncheon attended by Sir James" Parr, Sir Thomas Wilford, and Australian Agents-General to hear of the progress of vacuum packing in New Zealand. ' The chairman said that vacuumpacked butter and cheese from three packing factories in New Zealand commanded in London an additional 10s per cwt for butter and I 20s for cheese over the refrigerated product, giving an extra profit to the

farmer even after paying the extra cost of the new method of packing, which gave extra employment in Great Britain in the making of the containers. Sir James Parr said that New Zealand sent more butter to Great Britain than any other country, and said his Government would sympathetically view the new venture, especially as it tended to improve quality and the price obtained for its products. Other speakers emphasised that vacuum-packed produce had already been sent over the equator in unrefrigerated ships. The method was applicable to meat and many other commodities. Scientific experiments showed that goods so packed retained their flavour and vitamins. The keeping qualities of goods so packed were even better than those of refrigerated articles. It was intended ultimately to operate in every part of the Empire sending foodstuffs to Great Britain.

New Zealand butter and cheese were sent to England in vacuum containers under trial several times and early this year some success for the method was claimed. It was stated that Tooley street merchants were not interested at that time because it was a commission and not a speculative trade. The

opposition of retailers to the handling of the tins used as containers for butter was one hindrance quoted, also. A certain class of buyers were found for 112 half-pound packets of butter packed in a case and in March prices for that class held a premium of 14s on best bulk butter. About 100 tons were sold at that premium so that the experiment had not reached largescale trading proportions. However, that total was an incentive and it was thought possible that trade prejudices and customs might be overcome.

Vacuum cheese comes in a slightly different category, as the produce lastg longer and the trouble with the tin is proportionately less. Approximately 600 ten-pound cheeses were placed on the English market some months ago and their flavour and keeping quality were remarkable. Much of it was kept for 12 weeks under ordinary larder conditions and retained its freshness. Orders were booked at that time at a premium of 22s per cwt. over the ruling price for the best cheddar imported into England. Retailers had no hesitation in asking a premium of 3d a pound for it. Shipments of both butter and cheese are being continued but organisation and investigation are n6t complete.

LATEST QUOTATIONS N.Z. Government Debentures Buyer s. Seller 'S. ■>, ' C s - d. £ K. d. •ii p.c. Ins., .1039-43 108 10 0 4 p.c. Jus., 1040 .. 104 10 0 4 p.c. Ins., 1946 .. 109 0 0 4 p.c. Ins., 1940 .. J08 5 0 109 5 (1 4 p.c. Ins., 1055 . . 113 0 0 113 15 (I 4 p.c. Bonds, 1955 113 10 0 114 0 0 Rural Bonds .. 103 16 0 — Other Debentures Booth. Macdonald, Gh p.c, 1937 .. 09 0 0 71 0 0 Glaxo, 6i p.c, 1045 05 0 0 Gisborne Sheepfarmers, 6S p.c, 1941 " ..100 0 0 — Banks Adelaide .. —- 6 0 0 Com. o£ Aust. .. 0 15 8 0 15 10 Com. of Aust. (pf.) 9 17 0 10 3 0 Com. of Sydney .. 17 7 (i 17 14 0 E., S., and A. .. 5 1 6 5 3 6 Natl, of A/a.sia (£10 paid, cum div.) .. — 13 0 0 Nat!. of A/asia (£5 paid, cum div.) .. (5 4 6 6 7 3 Natl, of N.Z. .. 3 12 0 3 18 0 New South Wales 31 17 C 32 10 0 New Zealand (cum div.) .. 2 9 3 2 9 9 N.Z. (D Mort. shares, cum div.) N l 14 0 Reserve .. 6 11 9 6 12 3 Insurance Mercantile Mutual 1 4 9 National (cum div.) 1 1 0 — New Zealand .. 3 9 10 3 10 10 Queensland .. 3 13 0 — Standard .. 3 10 3 — Loan and Agency Chen. BIdg. Soc. 12 12 0 _ Dalgely and Co. (cum div.) .. 0 2 6 9 4 6 Goldsbrough, Mort 1 10 11 1 11 1 Invincible Building Society .. 4 16 0 — Mutual Benefit ..110 0 — N.Z. Guarantee Corporation .. 0 5 6 — N.Z. Loan and Merc. (ord. stk.) 46 0 0 — United Bldg. Soc. 1 0 10 — ShippingP. and O. Def. Stock .. 10 0 1 2 C Union (pref.) .. 17 0 ~ Frozen Meat N.Z. Refrig. (£1 paid) .. 10 0 1 0 6 N.Z. Refrig. (10s paid) .. 0 10 0 0 10 2 Woollens Kaiapoi (17s paid) 0 15 9 0 15 11 Kaiapoi (7s paid) 0 5 4 0 6 0 Kaiapoi (pref.) .. — 1 0 9 Mosgiel .. 10 10 0 11 0 0 Coal Westport (cum div.) 0 19 2 0 19 10 Stockton (pre!) .. — 0 4 11 Breweries New Zealand .. 2 9 3 2 .9 6 Stapler, .. 110 9 1 11 3 Timaru (7/6 paid) 0 7 3 0 8 3 Tooths .. 2 11 2 2 11 6

Gas Buyers. Sellers. £ s. d £ s. d. Auckland 17 5 17 9 Chrislchurch 1 14 9 1 15 6 Christchurch (10s paid) 0 16 0 0 16 6 Miscellaneous Allied Motors — 0 4 3 Amal. Wireless (confr.) 1 13 0 — Anthony Hordcrn 0 17 3 0 17 5 Aust. Glass (cum div.) 2 16 2 2 17 6 Beath and Co. .. 1 11 6 1 13 0 Beath and Co. (Is paid) —- 0 10 3 British Tobacco .. 2 1 1 2 16 Broken Hill Prop. (cum div.) 2 10 7 2 11 6 Burns, Philp (ex div.) 2 17 0 — Claude Neon (Sydney) Colonial Sugar .. 2 10 0 2 12 0 74 0 0 74 15 0 Consolidated Brick — 0 10 9 Dominion Fertiliser 1 0 6 1 1 6 Dunlop Rubber .. 0 19 11 10 0 Electro. Zinc (ord.) 14 0 1 5 0 Electro. Zinc (pf.) 1 14 9 1 15 0 Hay's, Ltd. (15s pd.) — 0 13 0 Kauri Timber (cum div.) .— 0 19 3 New Colosseum .. 1 7 0 19 6 N.Z. Drug Co. .. — 4 1 6 N.Z. Farmers' Coop. (1st pref.) .. 2 2 .0 — N.Z. Farmers' Coop. (A pref.) .. 0 16 0 — N.Z. Farmers' Coop. (B pref.) .. 0 12 6 1 5 0 N.Z. Farmers' Coop. (41 p.c. Slock, 1939. l'J40, and 1945) .—. 88 0 0 N.Z. Newspapers .. 1 13 0 — Quill, Morris (in liquidation) 0 3 1 0 3 2 Sun Newspapers .. — 0 4 0 Whilcombe and Tombs 4 0 0 — Wilson's Cement (cum div.) 1 14 0 1 14 6 Woolworths (N.Z.) (pref.) 2 0 6 2 2 6 Mining Alexander 0 17 8 0 18 3 Alexander (14/6 paid) 0 15 0 0 16 6 Bell Hooper 0 0 41 0 0 5 Bell Kilgour 0 0 1 0 0 21 Bcndigo Goldlights 0 1. fi 0 1 71 Brian Born 0 0 91 0 0 11 Central Sholovcr .— 0 1 0 Consolidated 0 18 0 Deep Lead 0 1 10 J 0 2 0 Gillespie's Beach 0 1 8 0 1 81 Glenroy 0 0 10 0 0 Hi Golconda (lid paid) — 0 0 10 Golden Dawn 0 1 (> 0 2 0 Golden Point o o 01 0 0 2 Golden Sands (1 2 7J 0 3 0 Goldfields Drcdg. 0 0 91 0 0 11 Kildurr0 2 11 0 2 3.'. Kuala Kampar .. — 0 14 « Lawson's Flat 0 0 2:1 0 0 3 Maerewhcnua .. 0 0 4 0 o 4 ; ; Mahakipawa 0 0 91 0 0 10 Mahnkipawa (pf.), 1929 issue 0 10 0 1 31 Mahakipawa (pf.), 1930 issue .. 0 1 0!. 0 1 2 Mataki — 0 3 0 Mining House Concessions 0 0 2 0 0 3 Moonlight Nelson Creek 0 0 21 0 0 3 Mossy Creek 0 1 f) 0 2 01 Mount Lyoll 0 17 2 0 17 4 Murray Creek .. 0 0 0 0 14 6 Nevis Diesel Elec. 0 0 41 0 0 4 : J Nokomai 0 3 1 0 3 8 Okarilo 0 8 7 0 8 9 Rawang Tin 0 7 0 0 7 6 Stafl'ord Sluicing Wailu Waihi Gd. June. i 17 11 0 1 2 0 4 7 0 4 9 Waitahu — 0 4 0 Worksop 0 3 1 0 3 3

Buyers. Sellers. £ s. d. £ s. d. Andersons Ltd., (prcf.) 0 15 0 0 17 3 Assoc. Motorists (prcf.) -- 1 2 3 Argo Gold ((id paid) 0 0 10'. 0 1 0 Ben Ledi Us t)d.) 0 1 0 0 1 2 Dominion Life (pref., 10s pd.) 0 4 6 — Dominion Exec. Trust (£. r )0 pd.) — 50 0 0 Golden Gully (Is paid) — 0 0 11 Jones Nevis 0 0 3 0 1 0 Mining Research — 0 1 21 Maori Gully (Is paid) 0 1 5.V 0 1 7 National Tobacco 3 7 6 3 13 0 National Tobacco (pref.) — 2 0 0 N.Z. Mining Investment 0 1 0 0 1 21 N.Z. Pcrp. Forests 1 19 0 o 11 2 Proeern Bread (10.S paid) 0 13 3 0 ]") 0 Refill Pictures (Clirislchurch) — 0 8 0 Snowy River ..... 0 0 2 Mount, Marshall 0 9 0 0 9 11 Silknit — 1 13 (i Warners, Ltd. — 8 0 0 Wf re's Invest. Trust 0 4 9 0 4 11 Woolworths <Syd.) (ord.) 3 M 10 3 15 3 AUCKLAND i Sales on 'Change £ d. 0 Bonds, 1940, 4 per cent. 104 "o Stock, 1940, 4 per cent. 104 0 0 Bank of N.Z. (2) 2 9 9 Reserve Bank 6 12 3 N.Z. Insurance i r2) 3 10 0 Fanners' Co-op. Aucl. (A 1 1 fj prcf.) Goldsbrough, Mort 1 11 b N.Z. Guar. Corp. 0 5 6 Traders' Finance (con.) 0 3 1 Auckland Gas (con.) 1 10 0 Woolworths (N.Z.) pref. 2 0 6 Waihi (2) 1 18 0 Waihi Junction 0 4 9 Broken Hill Ply. 2 11 0 Worksop Extended 0 3 3 Skippers 0 0 7 Unlisted Slocks Auckland Farmers' " (£ 1 paid) i'reczi ng1 0 0 Woolworths (Sydney) (ord.) 3 15 3 N.Z. Perpetual Forests 2 6

WELLINGTON Sales on 'Change £ s. d. Wellington Woollen (ord.) (late Wednesday) (2) 5 16 0 Dunlop Perdriau (late Wed.) 1 0 1 Mount Lyell (late Wed.) .. 0 17 8 0 17 9 Westport Coal (4) 0 19 6 Mount Lycli 0 17 4 DUNEDIN Sales on 'Change £ s. d. N.Z. Breweries (2) 2 9 6 Mining House Concessions 0 0 2* Sales Reported N.Z. Drugs (2) 4 1 0 Wilson's Cement 1 14 7 Woolworths (Sydney) 3 15 0 Reserve Bank (after last call) 6 12 0 Howard Smith 0 16 6 Westport Coal 0 19 9 N.Z. Paper Mill 1 14 9 Waihi 1 18 2 Bell Kilgour (after last call) 0 0 2 SYDNEY On the Sydney Stock Exchange yesterday, the market was active in all departments with all round firmness. Morning 1 Sales £ s. d. Commonwealth Bonds — 3} per cent., 1948 108 12 6 4 per cent. 1941 (ex div.) 106 15 0 4 per cent., 1944 107 12 6 Anthony Hordern 0 17 9 Associated Newspapers (pref.) 1 5 0 British Tobacco 2 1 6 Colonial Sugar 74 17 6 Dunlops 1 0 1-1 Lustre Hosiery 1 5 6 Afternoon Sales Buik of New South Wales 32 15 0 National Bank (£5 paid) .. 6 6 6 Queensland National Bank 5 7 0 Bank of Adelaide 5 17 0 Colonial Sugar 75 5 0 United Insurance 11 0 0 Associated Newspapers 1 6 U Associated Newspapers (prcf.) 1 5 3 Drug Houses of Aust. 1 4 6 Tooth's Brewery 2 11 0 British Tabacco 2 1 6 Australian Glass 2 17 6 Dunlop Perdriau (pref.) .. 1 19 0 Winchcombe Carson 1 9 0 Morris Hedstrom 0 17 0 David Jones 2 2 0 Anthony Hordern 0 17 <U General Industries 0 14 0 General Industries (pref.) 1 6 0 Newcastle Gas (A) 0 13 9 United Provisions 0 9 6 North Broken Hill 4 19 0 Bulolo Gold 8 8 6 Kuala Kampar 0 14 0 Bawang Tin 0 7 6 Euratha 0 9 6 MELBOURNE £ s. d. Bank of New South Wales 33 0 0 National Bank (£5 paid) .. 6 6 6 Australian Glass 2 17 6 Herald and Weekly Times 2 18 6 Dunlop Perdriau 1 0 0 Commercial Bank of Aust. 0 16 1 South Broken Hill 3 18 6 Mcunt Lyell 0 17 6