THE STOCK EXCHANGES

Press, Volume LXXIV, Issue 22335, 24 February 1938, Page 11

THE STOCK EXCHANGES

DEALINGS COMPLETED LISTED STOCKS Sales on ’Change £ s. d. 100 Comm. Bank of Aust. 016 7 200 N.Z. Refrig. (10s pd.) 0 8 3 200 Westport-Stockton Coal 0 2 11 100 Broken Hill Propty. (2) 320 300 Broken Hill Propty. (contr.) .. - ■ 112 5 (2) 1 12 10 500 Electro. Zinc (ord.) 2 6 4 <2) 2 6 5 (3) 2 6 11 2 7 0 (2) 2 7 1 2 7 0 150 Electro. Zinc Cpref.) 2 9 3 2 9 6 2 9 5 175 G. J. Coles .. 4 0 6 4 0 9 4 0 6 4 10 100 Kauri Timber .. 12 0 96 Woolworths (N.Z.), ord. (odd parcel) .. 113 500 Woolworths (Syd.), ord. .. (3) 169 (2) 1 6 11 1000 Worksop Extended (2) 010 250 Broken Hill South (2) 1 13 9 1 13 10 1 14 5 1 14 4 450 Mount Lycll (2) 110 6 (2) 1 10 7 (4) 1 11 2 750 Mount Morgan (3) 0 9 5 (5) 099 50 North Broken Hill 210 9 300 Rawang Tin .. 0 9 3 0 9 4 0 9 5 100 Grey River .. 0 11 6 Sales Reported 200 National Bank of N.Z. (2) 2 13 6 275 Kaiapoi Woollens (17s paid) (late sale Tues.) 012 0 25 Wellington Woollens 5 3 0 50 Broken Hill Propty. 3 15 75 Electro. Zinc (ord.) 2 6 2 200 Taranaki Oilfields .. 0 6 8 200 Woolworths (Syd.), ord. .. ~ 17 0 50 Barrytown 15 0 100 Mount Lyell ' .. 110 7 Banking Commercial Bank of Australia were steady at 16s 7d, market closing Id either way. National Bank of New Zealand were firmer at 53s 6d, and more were offered at 53s 9d. Bank of New Zealand were firmer on buyers’ offers 435. New Zealand Refrigerating (10s paid) had business at 8s 3d, market closing Id either way. A late sale of Kaiapoi Woollens on Tuesday was reported at 12s. Wellington Woollens had business at £5 3s. WestportStockton were a shade easier at 2s lid. Miscellaneous Broken Hill Proprietary were firmer at 61s 5d and 625, and more were wanted at the higher price; the contributing were stronger with dealings at 32s 5d and 32s lOd, and further sellers at the higher price. Electrolytic Zinc changed hands at prices ranging from 46s 2d to 47s Id, market closing 47s buyers, 47s Id sellers; the preference rose to 49s 3d, 49s 6d, and 49s sd, market closing 49s 4d buyers, 49s 5d sellers. G. J. Coles rose to 80s 6d, 80s 9d, and fils, gnd more were wanted at the highest price. Kauri Timber were fractionally weaker at 225. Taranaki Oilfields were firm with sellers and business at 6s Bd. Woolworths moved up to 26s 9d, 275. and 26s lid. closing quotations 26s lid buyers, 27s sellers. An odd parcel of > Woolworths (N.Z.) changed hands at 21s 3d, and more were wanted at 21s. Mining Barrytown had business at 255. Grey River were firm with sellers and business at 11s od. Worksop Extended remained unaltered with buyers and dealings at Is. Broken Hill South rose to dealings at prices ranging from 33s 9d to 34s 5d and closed firm. Mount Lyclls advanced to 30s 6d to 3ls 2d, and more were wanted at the highest price. Mount Morgans were stronger at 9s 5d and 9s 9d and further buyers at 9s North Broken Hill rose to 50s 9d, and more were wanted at that price. Rawang Tin changed hands at 9s 3d, 9s 4d, and 9s 3d, closing quotations 9s 4d buyers, 9s 5d sellers. LATEST QUOTATIONS

METALS SHARES STRONGER WIDER TURNOVER Metals shares were active and stronger on the Christchurch Stock Exchange yesterday. The market altogether was busier.

UNLISTED STOCKS AH 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. Buyers. Sellers. £ s. d. £ s. d.

BRITISH BUYING OVERSEAS

ORDERS REACH HUGE TOTAL HELPING PROSPERITY OF FOREIGNERS (BRITISH OrriCIAI, WIBELISS.) RUGBY, February 22. Owing to the pressure of other du ties, the Prime Minister was unable t( speak at the Government dinner ti mark the opening of the British In dustries Fair, and' Lord Derby, whi took his place, spoke from Mr Cham berlain’s notes. “In the early days of our industria development,’’ he said, “the Govern ment played but a minor part in it activities, but in more recent times wi have had to realise that industry lef to itself, however efficiently organ ised and carried on, cannot create o: maintain the conditions necessary fo: successful operation. Only govern ments can deal with other govern ments, and to an increasing extent th< actions of governments to-day regu late the direction and volume o trade. “I cannot too often emphasise tin fact that confidence is the mainsprinj of progress and prosperity everywhere and conversely, uncertainty and feai for the future produce recessions anc slumps as inevitably as night followi day. For the Government of thi! great trading country it must alwayi be of prime importance to promote peace, not for ourselves alone, but foi all with whom we trade.” Referring to the 1931 change in fisca policy , Lord Derby said: r 'lt canno be charged against Britain that shi throttled foreign trade. Last year th< value of our imports was £180,000,001 sterling more than the year before, anc amounted to more than £1,000,000,000 Of that huge sum £620,000,000 came from foreign countries, whose prosperity and employment were thus fostered by the improvement in our owr industrial conditions. “We are looking forward hopefullj to the outcome of the negotiations fo: an Anglo-American trade treaty, in the belief that if it is successful, it maj not only benefit our two countries, bui may serve to stimulate further expansion of the international exchange of goods.” CARGO REFRIGERATING SYSTEMS SUCCESS CLAIMED FOR NEW METHOD “ACCURATE CONTROL - POSSIBLE” (from ovb own correspondent.! LONDON, February 2. Satisfaction with a new system of refrigeration installed with modifications in most new ships in the New Zealand and Australian trade, is expressed in the annual report of the British Department of Scientific and Industrial Research. The new method, which was developed at the Ditton Laboratory of the department, is known as the During the. year, the report states, arrangements were made for officers of the department to sail in some of the ships so equipped to examine its practical working. The basis of the investigation had to be wide since the system involved changes in the method of carriage of all the ships’ refrigerated cargoes frozen, including butter, cheese, frozen meat, chilled meat in lias storage, pears, and apples. In the tests some 350 electrical resistance thermometers spaced throughout the cargo were used. The full data obtained from the expedition are under detailed consideration, but the indications are that the new system is working very satisfactorily. In the great bulk of a stack of 50,000 cases of apples the temperature was uniform within half a degree Fahrenheit. Moreover, with the new system 3000 more cases can be carried than with normal storage. The report points out that at the present time the margin of uncertainty In specifying the best temperature for a mixed cargo of apples is about 2 degrees Fahrenheit. Thus the precision of control possible in the refrigerated space aboard ship has come abreast or even surpassed the precision demanded by biological definition.

COLOMBO TEA AUCTION (mSSS A.MOCIATIOH TELEGRAM.) DUNEDIN, February 23. Mr L, M. Wright has received the following cabled report on the Colombo tea auction of February 22:—"At yesterdays sale of 2,000.0001 b. fine quality teas were In keen demand and remained firm. Medium and common grades closed about id under last week’s rates. At next week’s auction 1,750,0001 b will be offered for sale.”

Buyers. Sellers. £ s. d. £ s. d. N.Z. Govt. Debentures 3J p.c. Ins., 1053-57 .. 97 10 0 98 0 0 4 p.c. Ins.,- 1946 _ 102 12 6 4 p.c. Ins., 1049 104 7 6 4 p.c. Bonds. 1046 102 5 0 102 17 6 Rural Bonds, 5 p.c., 15/0/47 102 10 0 — Other Debentures Ch.Ch. Trams, 41 p.c., 1/2/43 103 10 0 104 5 0 Banks Adelaide (£5) 0 3 9 Australasia (£5) 10 0 0 10 10 0 Comm, of Aust. (10s) 0 16 6 0 16 8 Comm, of Aust. (pf.. £10) — 9 11 0 Comm, of Sydney (£12 „ 10s) 19 10 0 20 5 0 E., 9., and A. (£3 paid) 5 2 6 Natl, of A/osla (£10 paid) 14 * 9 0 Nat), of A/asla (£5 paid) 7 1 0 7 3 6 Natl, of N.Z. (£2 10s) 2 13 0 N.S.W. (cum div.. £20) 31 17 6 New Zealand (£1) 2 3 0 2 3 1 Union of Aust. (£5) .. 8 19 6 9 3 0 Insurance Mercantile Mutual (16s paid) 1 11 0 National (7s paid) 0 17 0 New Zealand (£1) 2 19 0 Standard (cum div„ £1) 2 19 6 — Loan and A gcncy Dalgety and Co. (£5) 8 5 0 8 7 0 Goldsbrough, M. (£1) 1 10 3 1 10 9 Natl. Mortgage A (cum div., £2) — 2 10 0 N.Z. Guar. Corpn. (3s) 0 4 4 0 4 6 N.Z. Loan and Merc. (ord. stock, £100) .. — 48 0 0 United Building (£1) 1 0 9 1 1 0 Wright, Stephenson (pref., £1) .. 1 0 5 . , Newton King (£1) 0 1 0 — Shipping P. and O. Dcf. Stock (£1) 1 5 6 Union (pref., £1) 1 G 9 — Frozen Meat Cantby. (£7 10s paid) 10 1 0 10 10 0 Cantby. (pref., £5) 5 18 6 6 10 0 N.Z. Refrig. (£1 paid) 0 18 6 0 19 0 N.Z. Refrlg. (10s paid) 0 8 2 0 8 4 North Cantby. Freezing (pref., cum div., £1) — 0 18 6 Southland (cum div.. £1) — 1 9 2 Woollens Kaiapoi (17s paid) .. .0 11 9 0 12 9 Kaiapoi (7s paid) — 0 4 3 Kaiapoi (pref., 17s) 0 16 0 — Coal Pukemiro (£1) 0 18 0 — Westport-Stockton (10s) 0 2 9 0 3 0 Westport-Stockton (pf., cum div., 10s) 0 5 11 0 6 1 Gas Christchurch (£1) — 1 9 3 Timaru (£1) 0 15 (MO 18 11 Breweries New Zealand (£1) .. 2 5 7 2 5 11 Tooths <£1) — 2 14 3 Timaru (in liqdn.) (£1) 0 1 0 —

Miscellaneous Buyers. Sellers. Andersons (pf., £1) £ s. d. £ s. d. 0 18 0 0 19 0 Anthony Hordern (£1) 0 18 4 0 18 7 Alloy Steel (N.Z.) (£1) 0 15 0 0 19 3 Aust. Glass (£1) 4 12 9 4 13 6 Aust. Iron and Steel (pref.. £1) .. 18 3 Heath and Co. (Is pd.) 0 17 Berlei (N.Z.) (£1) 3 5 0 3 10 0 Booth, Macdonald (pf.. £1) 0 2 4 0 2 6 British Tobacco (£1) 2 9 1 2 9 5 Broken Hill Pty. (£1) 3 2 0 3 2 2 Broken Hill Pty. (con.) 1 12 10 1 13 0 Colonial Sugar (£20) 46 10 0 Consohd. Brick (£1) 0 6 11 , Cox Bros. (5s) 0 16 0 Dominion Build. (10s) 0 2 1 0 2 11 Dominion Pert. (£1) .. 13 0 Dominion Rubber (£1) 15 6 D.X.C. (pref., £1) 13 0 Dunlop Rubber (£1) 12 8 13 0 Electro. Zinc (ord., cum div., £1) 2 7 0 2 7(1 Electro. Zinc (pf., cum div., £1) 2 9 4 2 9 5 G. J. Coles (£1) 4 10 4 13 Gen. Industries (12/6) 0 19 6 Gen. Motors-Holden’s (pref., £l) 15 0 Greater Crystal (£1) .. 0 8 0 Hays, Ltd. (con., 15s Paid) 0 15 3 Howard Smith (£1) .. 110 Hume Pipe (Aust.) (£1) 1 0 10 1 M 2 Kauri Timber (25s) 1 1 9 12 2 Leyland. O’Brien (£1) 0 19 0 Morts Dock (£1) 0 10 9 McKenzies, Ltd. (£1) 3 12 9 N.Z. Drug (£2) N.Z. Farmers’ Co-op. 3 7 9 3 9 6 (10s paid) .. 0 0 3 N.Z. Farmers’ Co-op. (1st pref., £5) N.Z. Farmers’ Co-op. 3 4 6 (A. pref.. £4) 1 10 0 1 15 0 N.Z. Farmers’ Co-op. (41 p.c. Stock, 1949, £100) , 93 5 0 N.Z. Farmers' Co-op. (41 p.c. Stock, 1950, £100) 93 2 6 _ N.Z. Farmers’ Co-op. <4i p.c. Stock. 1955, £100) 93 7 6 ... N.Z. Farm. Fert. (£1) 0 17 6 0 18 3 N.Z. Newspapers (16/8) 1 18 6 2 0 0 Procera Bread (10s) .. 0 13 0 Quill, Morris (1936) (ex div.. £1) 0 17 0 , Radio (1936) (10s) 110 Standard Cement (£1) 0 19 3 McLeod Bros. (£10) .. 29 10 0 Taranaki Oil. (24/7) .. 0 6 3 0 6 8 T. J. Richards (£1) 1 14 3 United Provisions (£1) 0 7 3 Wilcox. Mofflin (11s) .. 0 10 2 0 10 6 Wilson’s Cement (10s) 0 18 6 Woolworths (N.Z ) (5s paid) 110 Woolworths (N.Z.) (pf.. £ 1) 1 17 0 2 0 0 Woolworths, Ltd, (ord., 5s) 1 6 11 17 0 Overseas Listing Woolworths (S.A.) (5s) 0 14 8 0 14 11 Mining Argo (Is) 0 18 Argo (cont.) .. Barry town (£1) 0 13 18 0 Big River (Is) Blackwater £1) Gillespie’s Beach (Is) Golden Dawn (5s) . n 9. fi Golden Point (6d) .. Golden Sands (Is) Goldfields Dredc. (Is) 0 0 2 0 0 3* 0 11 6 Grey RiVer (8/9 paid) 0 11 5 New River (Is) 0 0 4 Maori Gully (Is) 0 0 4 Moonlight Gold. (8d paid) 0 0 4 Mossy Creek (Is) Nokomai (5s) , Okarito (5s) _ Skippers (Is) 0 0 11 Waihi Invest. (5s) 0 9 4 Waihi Grand Junction (2s) Waimumu Sluic. (Is) Waitahu (5s) 0 16 o 1 01 Worksop Extend. (Is) 0 1 0 Australian Mining Broken Hill Sth. (cum div., 5s) 1 14 2 1 14 4 Mount Lyell (£1) .. 1 11 2 1 H 3 Mount Morgan (2s 6d) 0 9 91 0 9 10 North Broken Hill (cum div.,’5s) 2 10 9 2 11 -0 Rawang Tin (10s) .. 0 9 4 0 9 5

Assoc. Motorists Petrol (pref.) .. .. 15 A.P.A. .. 0 9 0 0 1 10 0 Ballins Breweries (15s paid) ., .. 0 12 3 0 12 9 Blackball Ford Creek 0 1 2 0 1 9 Carbonic Ice .. 12 6 Christchurch Press .. 8 5 0 9 5 0 Coull, Somerville .. 0 35 6 1 2 6 National Tobacco .. 2 0 0 2 17 6 N.Z. Perpetual Forests — 2 8 6 Selfridges (A/asia.) .. 15 0 I 8 0 Selfridges (N.Z.) .. — 1 1 0 Selfridges (N.Z.) (con.. 14s paid) .. . — Selfridges (W.A.) (10s 0 14 0 paid) .. 0 11 0 0 17 0 Shirley Links • ., — 0 10 0 Tlmaru Lime .. 10 3 —— Westland Breweries (con.) .. io 0 White’s Electric .. 0 0 01 0 0 3 Wool worths (W.A.) .. 4 3 6 4 9 0 AUCKLAND Sales on 'Change £ S. d. Commercial Bank of Aust. 0 16 8 Bank of New South Wales 32 2 6 Bank of New Zealand (2) 2 3 0 Union Bank 8 19 0 Westport-Stockton 0 2 11 Westport-Stockton (pref.) 0 6 4 Auckland Gas . . 1 0 4 Northern Steam 0 4 0 Northern Steam (con.) 0 0 10 A. J. Entrican (prof.) 0 14 6 G. J. Coles 4 1 6 British Tobacco 2 9 4 Broken Hill Proprietary 3 2 3 Taranaki Oil .. 0 6 7 Wool worths (N.Z.) 1 1 0 Martha 0 15 4 Walhi Investments 0 9 8 Broken Hill South 1 13 0 Mount Lyell 1 10 3 Mount Morgan 0 9 6 0 9 9 Unolllclal List Australian Provincial Assurance n 9 9 Coromandel Gold 0 I 1 WELLINGTON Sales on 'Change £ s. d. Inscribed Stock, 4 p.c., 1949 104 7 0 Bank of New Zealand 2 2 11 Tooheys, Ltd. .. 1 11 3 Colonial Sugar 46 5 0 G. J. Coles 3 19 9 Woolworths, Ltd. 1 7 0 (All above sales late Tuesday) National Bank of N.Z. 2 13 6 Commercial Bank of Aust. 0 16 7 Bank of New Zealand 2 2 11 Wellington Woollen (ord.) 5 3 0 5 4 0 Electrolytic Zinc (ord.) 2 6 5 Electrolytic Zinc (pref.) (2) 2 9 0 G. J. Coles 4 0 0 4 0 3 4 0 6 ( 2) 4 1 3 Dominion Fertiliser 1 3 6 Woolworths, Ltd. (Ord.) 1 7 0 (6) 1 (i 9 Woolworths. Ltd. (2nd pref.) 1 8 6 1 8 5 Woolworths (N.Z.), Ltd. 1 1 0 Mount Lyell 1 10 3 1 10 5 Unofficial List Blackball Creek Gold •• 0 1 42 DUNEDIN Sales on 'Change £ S. d. Taranaki Oil .. t , 0 6 H 0 6 7 Electrolytic Zinc (ord.) mm 2 6 6 Westport Coal .. 1 3 3 Sales Reported Woolworths (Sydney) (late Tuesday) 1 8 11 Inscribed Stock, 4 p.c., 1943-46 102 10 0 Westport Coal , . 1 3 6 Northern Steam (Ha paid) 0 4 0 Dominion Fertiliser .. 1 3 e

£ s. d. Woolworths (Sydney) (2) 1 7 0 Mount Lyell .. .. (2) 1 10 10 7 6 Mount Morgan 0 9 4 Sales After Call Westport Coal 1 3 3 Woolworths (Sydney) (3) 1 7 Broken Hill South .. (2) 1 14 0 Mount Lyell .. .. <2> 1 IX North Broken Hill . . (2) 2 10 SYDNEY a ffrtod rise in all base metal shares was noted on the Sydney Stock Exchange vesterdav. Little scrip, however, was offerine. Investment business continues along quiet and steady lines. Morning Sales £ s. d. Broken Hill Pty. 3 2 G Colonial Sugar 46 12 Goldsbrough, Mort 1 10 1 Hume Pipe (Aust.) Kandos Cement 1 5 9 Lustre Hosiery (pref.) 1 3 6 Afternoon Sales Comm. Bank of Sydney Comm. Bank of Australia 20 0 4 16 0 9 United Insurance 0 lb 0 Colonial Sugar 48 12 6 Associated Newspapers 1 2 3 Automatic Totallsators 0 18 0 Adelaide Steam 1 14 3 Howard Smith 1 1 Burns Phllp 2 '16 0 Neon Signs U it> 6 British Tobacco 2 9 9 Tooths 2 14 9 G. J. Coles 4 2 0 General Industries 0 19 H Associated Pulp 1 I u Westinghouse 1 2 9 Mauri Bros. 3 13 6 Mark Foy i 4 9 Warburtoh Franki i 2 0 Goldsbrough, Mort i 11 0 Woolworths 1 7 3 North Broken Hill 2 ii 6 Zinc Corporation 4 18 0 Rawang Tin 0 9 4 Rawang Tin (N.Z. delivery) .. 0 9 4 Placer Development .. 3 14 0 Emperor Gold 0 12 3 MELBOURNE There was an improvement in market sentiment yesterday .on the better overseas outlook. Barriers were particularly affected. Lolomas and Mounl Morgans were In demand. Sales: — National Bank (£5 paid) 7 4 0 Carlton Brewery 3 7 8 4 2 0 Aust. Foundation Investment Trust 0 5 9 Electrolytic Zinc 2 7 9 Electrolytic Zinc (pref.) 2 9 8 Mount Morgan 0 9 9 Mount Lyell Broken Hill Propty. .. North Broken Hill 1 n 4S 3 3 0 2 11 6 South Broken Hill 1 14 3 Emperor Gold 0 12 8 Loloma .. .. M I 0 0