THE STOCK EXCHANGES

Press, Volume LXXIV, Issue 22376, 13 April 1938, Page 13

THE STOCK EXCHANGES

MORE INTEREST SHOWN

SEVERAL PRICES IMPROVE

DEALINGS COMPLETED LISTED STOCKS Sales on ’Change £ s. d. 100 Comm. Bank of Aust. 016 3 25 Dalgety and Co, .. 8 7 6 300 N.Z. Breweries <3) 2 4 0 50 British Tobacco .. 2 6 9 100 Broken Hill Propty. 3 0 3 3 0 0 10 Colonial Sugar .. 47 10 0 100 Electro. Zinc ford.) 2 19 300 G. J. Coles .. 3 19 3 (2) 3 19 0 (2) 3 19 3 100 General Industries .. 0 18 6 200 Taranaki Oilfields (2) 0 6 6 800 Woolworths (Syd.), ord. .. (2) 123 12 4 12 5 (3) 1 2 3’ 12 2 100 Woolworths (South Africa) .. 015 4 50 Broken Hill South 111 0 400 Mount Lyell (2) ISO--179 (2) 178 100 Mount Morgan (2) 0 9 5 400 North Broken Hill 2 9 0 2 8 10 (2) 2 9 4 (3) 2 9 3 150 Mount Morgan (pref.) (2) 0 5 2 Sales Reported £505 N.Z. Govt. 3J Inscr., 1953-57 .. .. 98 5 0 6 Bank of N.S.W. .. 31 12 6 75 Dalgety and Co. .. 8 7 6 1000 N.Z. Guarantee Corp. 0 4 0 200 Southland Frozen Meat 17 9 200 Westport - Stockton Coal .. .. 059 100 Broken Hill Propty. (contr.) .. .. 1 15 3 100 McKenzie’s Department Stores .. 3 10 0 100 Mount Lyell .. 1 711 50 Mount Morgan .. 0 9 5 150 G. J. Coles (2) 319 4 Government

New Zealand Government 3i per cent, stock due 1933-57 changed hands at £9B Ss.

Commercial Bank of Australia were fractionally firmer at 16s 3d, market closing Id either way. Bank of New South Wales dropped to £3l 12s 6d, and more were offered at £3l 15s. Dalgety and Company were firm at £8 7s 6d. New Zealand Guarantee Corporation eased to 4s, and there were further unsupported sellers at 4s 3d. Southland Frozen Meat were firm at 27s 9d. Westport-Stpckton Coal (preference) remained unaltered at 5s 9d. New Zealand Breweries recovered to 445, and there were further sellers at that price, buyers at 43s 9d.

Miscellaneous

British Tobacco rose to 46s 9d, market closing 46s 7d buyers, 47s sellers. Broken Hill Proprietary advanced to 60s 3d and 60s, and more were, offered at 59s 9d, buyers at 59s 6d; the contributing moved up to 35S 3d, but closed with sellers at 355, buyers at 34s 6d. Colonial Sugar changed hands at £47 10s, and there were further sellers at that figure. Dunlop Rubber were firmer on buyers’ offers 21s. Electrolytic Zinc ordinary recovered to 41s 9d, closing quotations 3d on either side. G. J, Coles were firm at 795, 79s 3d, and 79s 4d, and more were offered at the highest price, buyers at 795, Id. General Industries had business at 18s 6d. McKenzie's Department Stores were firmer with buyers and business at 70s, Taranaki Oilfields moved up a point to 6s 6d, market closing Id either way. Woolworths, Ltd. (cum dividend) were fractionally firmer at prices ranging from 22s 2d to 22s sd. market closing 22s 2d buyers, 22s 3d sellers. Woolworths (South Africa) were fractionally weaker at 15s 4d, market closing Id either way. Mining

Broken Hill South recovered to 31s, and there were further sellers at that figure. Mount Lyells relapsed from 28s to 27s 8d and closed with sellers at the lowest price, buyers at 27s 7d. Mount Morgans were firm with sellers and dealings at 9s sd. North Broken Hill ranged from 48s lOd to 49s 4d. Mount Morgan preference were steady with sellers and dealings at 5s 2d.

LATEST QUOTATIONS

Buyers. Sellers. £ s. d. £ -s. d. N.Z. Govt. Debentures

3J p.C. Ins., 1038-52 .. 31 p.c. Ins., 1953-57 .. 96 0 0 98 7 6 4 p.c. In£, 1943-46 .. 102 0 0 102 5 0 4 p.c. Ins., 1046-49 .. 4 p.c. Ins., 1952-55 .. 104 5 0 4 p.c. Bonds, 1949 Rural Bonds, 5 pc, 15/9/47 .. .. 101 15 0 Other Debentures

N.Z. Hefrig, 41 P-c- .' 1940-45 .. ..1010 0 mm Quill, Morris, 4 P.c. 1946 .. .. 90 0 0 mm Banks

Adelaide (£5) ..6 0 0 Australasia (£5) .. 915 0 Comm, of Aust. (10s) 016 2 016 4 Comm, df Aust. (pf.. £10) 9 10 0 Comm, of Sydney (£l2 10s) •

E., S„ and A. (£3 paid) 417 6 419 6 Natl, of N.Z. (£2 10s) .2 15 0 215 2 N.S.W. (£2O) .. il 0 0 31 15 0 New Zealand (£1) .. 2 3 6 N.Z. (mort shares, £1) 193 110 0 Union of Aust. (£5) 813 6 Insurance New Zealand (£1) .. South British (cum dlv.. 10s) .. •• 2 4 2 Standard (£1) ••

Loan and Agency Dalgety and Co. (£5) 8 6 0 Goldsbrough, M. (£1) 110 0 110 4 Invincible Build. (£5) N.Z. Guar. Corpn. (3s) 0 4 3

N.Z. Loan and Merc. __ (ord., £100) •• 37 0 0 Perm’t Invest. (£10) United Building (£1) 1 0 S 'Newton King (£1) • • 0 12

Shipping

P. and O. Deferred Stock (£1) ..

ISO

frozen Meat

Canty. (£7 10s paid) .. 9 5 0 10 5 0 Canty, (pref., £5) .. 6 0 0 Gear (10s) .. • • 015 6 ■ — N.Z. Refrig. (£1 paid) 018 2 018 0 N.Z. Refrig. (10s paid) 0 8 1 0 8 4 North Canty. Freezing (pref., £1) .. -*■ 0 19 0 Southland (£1) •• -*• 18 0

Woollens Felt and Textiles (£1) 1 12 0 Bruce (£5) .. .. $ * « Kaiapoi (17s paid) .. Kalapol (7s paid) .. Kaiapoi (pref., 17s) ' Manawatu (£l) •• J 2 Oamaru (£1) .. - “ 2J2 2 Ttmaru (£1)

Coal Westport-Stockton (10s) 0 2 • 0 2 9 Westport-Stockton (pf.,. * . « 10s) .. 0.2 T O 6 0

Auckland (£1) •• } 2 I Christchurch (£1) •• 1 7 6 18 6 Cb.Ch. (con., 10s paid) 013 0

Breweries Melbourne Co-op. (10e) - J ® New Zealand (£1) .. Iff 240 Queensland (£1) .» J" “ Swan (ss) .. •• —•- J® ® Tooheys (16s) .. IJO 6 110 9 Tooths (£1) .. .. 314 0 Timaru (in liqdn.) .. 0 10 Alloy Steel (N.Z.) (£1) 018 0 - Anthony Hordern (£1) 018 0 Austi Glass (£1) .. - « “ 8

Turnover on the Christchurch Stock Exchange yesterday was moderate, but there was a considerably better tone in the market. Several prices improved.

Mtseeilaoeous Buyers. Sellers. £ a. d. £ s. d. Andersens (pf., £1) 018 0 019 3 Beath and Co. (£1) Beath and Co. (Is pd.) 0 10 Booth, Macdonald* (pf., £1) 0 2 6 British Tobacco (£1) 2 6 7 2 7 0 Broken Hill Pty.-(£1) 219 6 219 9 Broken Hill Pty. (con.) ,1 14 6 115 0 Colonial Sugar (£2O) Consolid. Brick (£1) 0 8 0 Dominion Pert. (£l).. Dunlop Rubber (£1) .. 110 114 Electro. Zinc (ord.. £1) 216 220 Electro. Zinc (pf.. £1) 2 5 0 2 6 0 Evans Atlas Flour (10s) 019 0 G. J. Coles (£1) 319 1 319 4 Gen. Industries (12/6) 018 2 018 3 Hume Pipe (£1) .. 018 5 018 11 McKenzies (£1) .. 310 0 310 6 N.Z. Drug (ex div., £1) N.Z. Farmers’ Co-op. (£2 10s paid) .. 0 12 0 N.Z. Farmers’ Co-op. „ „ (10s paid) .. .. 0 0 3 N.Z. Farmers’ Co-op. (Ist pref., £5) .. 8 T 0 8 M 0 N.Z. Farmers’ Co-op. (A pref.,- £1) •• 112 6 N.Z. Farmers’ Co-op. (41 p.c. Stock, 1955, £100) •• .. 94 0 • N.Z. Farmers’ Co-op. (41 p.c. Stock, 1950, £100) At • 0 N.Z. Farmers. Co-op. (41 p.c. Stock, 9/6/51, £100) 94 0 0 96 0 0 N.Z. Farm. Fert. (£1) 018 0 N.Z. Newspapers (16/8) Procera Bread (10s) Quill, Morris (1936) (£1) 018 0 Standard Cement (£1) \ ® ® Shillings (£1) •• . Taranaki Oil. (24/7) 0 6 3 0 6 7 Woolworths (N.Z.) (5s , paid) ..118114 Woolworths (N.Z.) (pf.. , . cum div., £1) 8 10 Woolworths (Sydney) ■ , „ _ (ord., cum div., ss) 12 8 18 3 Overseas Listing Woolworths (S. Africa) , (ss) ’ 015 8 015 5 Mining Addison's Flat (Is) .. 0 12 Argo (con.) .. *. 0 13 _ n Gillespie’s Beach (Is) 0 0 9 0 010 Golden Sands (Is) .. 0 2 0 Goldfields Dredg. (Is) 0 0 2 0 0 6 Grey River (10s paid) New River (Is) ~ 0 0 5 0 0 6 Maori Gully (Is) .. 0 0 5 0 0 61 Martha (ss) .. • • 014 6 Moonlight Gold. (8d paid) .. J ® * Mossy Creek (Is) J J * Nemona (Is) .. -JJ J ' Nokomal (ss) .. —„, 0 * 0 Skippers (is) ‘ .. 0 0 0i Walhl Grand June- _ „ tlon (2s) 0 8 0 Australian Mining Broken Hill Sth. (ss) 110 10 111 0 Mount Lyell (£1) 17 7 17 8 Mount Morgan (2s 6d) 0 9 4 0 9 5 Nth. Broken Hill (ss) 2 9 3 2 9 5 Rawapg Tin (10s) .. 0 8 24 0 8 5 M paid)° rfian . (PrCf - 0 5 1 0 6 2 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. Buyers. Sellers. £ s. d. £ s. d.

Assoc. Motorist*’ Pet- , . rel (pref.) .. .. 1 « « 110 0 A.P.A. M 0 9 0 BalUn's Breweries •» 011 3 011 9 Blackball Creek » , Carbonic Ice *• i,5 A nin n Coulls. Somerville .. 015 0 018 0 Kanlert • • •• 1 ,1 S National Tobacco ~ \ ” N.Z. Perpetual Forests 2 4 0 219 0 Selfrldgea (N.Z.) .. • 017 6 White’s Electric .. 0 0 1 Woolworths (W.A.) .. 4 5 0 418 0

AUCKLAND Sales on 'Change £ s. d. 3i p.c. Ins. Stock. 1953-57 .. 96 10 0 3J p.c. Ins. Stock. 1938-52 ..103 7 6 Auckland Transport Board, 41 p.c., 1941 • • • • 100 10 0 Bank of New Zealand .. (2) 2 3 7 South British -- - ■ * * Dominion Investment .. P, and O. Def. Stock •• i 5 ? New Zealand Breweries * *4O Broken Hill Pty. .. i 219 6 2 19 6 Broken Hill Pty. (con.) .. 115 3 Macky, Logan .. * 14 0 Woolworths (Sydney) .. 12 2 Mount Morgan •, w- 0 9 5

WELLINGTON Sales on 'Change £ a. d. Wellington Gas .. • • 11®* New Zealand Breweries .. 2 3 9 (Both late Monday) 4 p.c. Ins. Stock, 1946 .. 102 5 0 3* p.c. Ins. Stock. 1938-52 ..103 7 6 Bank of Australasia .. 916 0 Commercial Bank of Australia 016 3 Bank of New Zealand (5) 2 3 9 Bruce Woollen w 0 T 9 G. J. Coles 2 - 2 19 9 (>) 819 6 G. J. Coles (preM « •> 116 S Woolworths, Ltd. 2 1 * 1 Mount Lyell •• A 1 T M

DUNEDIN Sales on ’Change £ *. A. Broken HIU South (1) 110 $ Sales Reported Southland Frozen Meat .. 17 9 Bruce Woollen (ord.) i- 0 8 0 Broken, Hill Pty. (fc) 9

G. J. Coles .. u , “ip 319 3 Electrolytic Zinc (orcL) i It ! Mount Morgan (pref.) A 0 6 2 After calls— _ North Broken HID (2) 2 9 I Bank of Australasia ». 916 0 9 15 0 SYDNEY On tha Sydney Stock Exchange yesterday, the improvement In the share market was well maintained. There was renewed trading activity. Morning Sales £ s. d. Comm. Bank of Australia ~ O’l6 6 Bank of New South Wales a 81 15 0 Australian, Gas A .. * 7 8 6 Associated Newspapers «• 113 Anthony Hordern .. J JjJ 9 Cash Orders .. S,S 2 Colonial Sugar .. A 47 12 6 Goldsbrough, Mort .. Afternoon Sales Bank of New South Wales .. 31 15 0 Comm. Bank of Sydney .. 20 18 0 Bank of Australasia .. » 10 0 0 Colonial Sugar .. *• 4 I S Mercantile Mutual Insurance •• 110 6 Huddart-Parker ... Burns. Phllp •• •• 2 12, 0 British Tobacco ... v 2 Z British Tobacco (N.Z. delivery) 2 7 10J .Tooths Brewery .. •• 218 o Toohey*s Brewery .. 1 11 0 G. J. Coles 7 ,? « Farmers ... •• i 2 General Industries. .. 019 0 Amalgamated Wireless (con.) .. 210 6 Neon Signs .. - « 015 0 Standard Cement » •- 1 " 0 Malleys •• •» r }.i 5 Gonfonand Goteh 1 Z212 0 J | ?ft ft* Goldsbrough, Mort A A 110 6 Morris Hedstrom 4 * * Jj JJ Henry Jones .. A • ? ? X Westlnghouse A * j 1 J, Woolworths «• * J * ’ Wunderlich .. ~ » } J Mount Lyell •• .•• .•» l ® ,1, Mount Lyell (N.Z. delivery) «. 1 81U Broken Hill Pty. .. - 3 0 3 Placer Development .. .. oit o Emperor Gold .. JJ 12 5 Taranaki Oil • • • • 0 6 4 MELBOURNE Trading was light and the market steady at about late rates. Barriers were well supported. The exchange will close tomorrow at 1 p.m., and will reopen on April 21. 1 Sale 8 :“ £ s. d. National Bank (£5 paid) .. 6H 6 G J Cotes •« 400 'Australian Iron and Steel (pf.) 17 9 Dunlop Perdrlau .. .. J 1 Goldsbrough, Mort .. .. 110 4j Australian Foundation Inveatment Trust .. 0 5 0 Electrolytic Zinc .. •* , 22 6 Electrolytic Zinc (pref.) r 2 6 6 Mount Morgan ♦*925 Mount Lyell .. *• * ® " Broken Hill Pty. - 4, 2 0 0 North Broken HUI •• 210 inj Broken Hill South - r Hi 9 Emperor Gold A i 912 6 Loloma •• A • ®

DUNEDIN WOOL SALE

DECLINE ON MARCH RATES

GOOD COMPETITION FROM FRANCE MERINO PRICES DOWN H M (FBiaS ASSOCIATION TELIGBAK.) DUNEDIN. April 12. The fourth and final wool sale for the season was held to-day. Catalogues totalling 21,236 bales were submitted to a full bench of buyers, representing all purchasing countries. The wools auctioned comprised mostly late shorn back-country . clips of merino and fine halfbred, which were heavy in condition in all catalogues. However, there were several lots of earlier shorn halfbreds and good style crossbreds belonging to growers who had held 'their clips in anticipation of higher prices at the end of the season. The percentage of fine wools on offer was approximately 65, the balance being crossbreds. From the commencement of the auction until the close competition was restricted, and lacked animation except for good style crossbreds, for which the demand was keen. Bradford and the Continent were the mainstay of the market, support from French buyers being a feature of the sale. Neither Germanay nor Japan operated to any extent, and the absence of competition from these countries resulted in less competition, and a decline in values compared with the March sale held at this centre. In comparison with recent Christchurch sales, prices for all grades of wool were firm. Compared, however, with the last sale held at this centre in March, values showed a reduction. The extent of the decline depended mainly on tiie variety of the. clips auctioned, the drop in values becoming more pronounced as the finer wools were offered. The crossbreds sold at par to id cheaper than similar wools in March, medium halfbreds were about Jd cheaper, and fine halfbreds were more than Id •cheaper, and merinos were difficult to sell at lid to 2d reduction. All pieces and other skirtings were definitely cheaper, and can be marked down by Id.

Top price received at the sale was 13* d, which was paid for both halfbred and fine crossbred. Approximately 90 per cent, of the catalogue offered was sold at auction, and it is anticipated that a fair clearance of passed lots will be effected.

Range of Prices

The range of prices was:— March. April, d. d. d. d. Merino, 64/70, 60/64 Extra super to 16 Super .. 13 to 14* 10 to 10* Average .. 11 to 12J 10 to 10* Inferior 9 to 10j 9 to 9J Fine Halfbreds,

56/58 Extra super 15* to 17} Super .. 13 to 15 12* to 131 Average .. 11 to 12* 10| to 11* Inferior .. 8} to 9| 8} to 9} Medium Halfbreds, 50/56’s — Extra super 122 to 132 Super .. Hi to 12* 11 to 12* Average .. 10 to 11 9* to 10} Inferior 8* to 92 8* to 9* Extra Fine Crossbred, 48/50’s Extra super to 14* to 13* Super .. 11 to 12* 10| to 12* Average .. 92 to 10J 9* to 10* Inferior ~ 8* to 9* 8 to 9 Fine Crossbred, 40/48 Extra super 11* to 122 11 to 12* Super .. 10* to 11* 10 to 10} Average .. 9 to 10 9 to 92 Inferior 8 to 82 8 to 8* Medium Crossbred, 44/46 Extra super 11 to 12* 10} to 12 Super ~ 9| to 10| 9* to 10* Average .. 82 to 9* 8* to 9 Inferior 8 to 8* 7* to 8 Merino necks and piecesrSuper .. to 12* 11 to 11| Low to medium 8* to 10} 8* to 10* Halfbred necks and pieces— Super .. 11* to 12* 10* to 11* Good to super 9 to 10* 9 to 10 Low to medium 7 to 8} 7 to 8* Crossbred Necks and Pieces— Super .. 9* to 10* oto 10* Average .. 8* to 9 8* to 82 Inferior 7 to 7} 6* to 7* Crutchings, Halfbred— Medium to good 7 to 8* 6* to 7 Inferior 6 to 6} 5* to 6* Crutchings, CrossbredMedium to good „ 7 to 9| 7 to 7| Inferior 5* to 6} A* to 6* Fioclcff . Merino to 52 4* to S Halfbred * 4} to 6* 4} to 5 Crossbreds 4 to 5 4 to 4} AUCKLAND SALE

RECEIPTS FOR SEASON TOTAL . £1,031,001

AUCKLAND, April 12.

Returns from the Auckland third and final wool sale on March 26 total £432,521. Bales offered were 32,688, bales sold 31',690. Average price was £l3 13s a bale, or 9.148 d per lb. The season’s total receipts at £1,031,483, compare with £1,528,545 in the previous season.

BRADFORD TOPS MARKET LONDON. April 11. The Bradford tops market is quiet, Prices are unchanged. RISE IN PRICES OF EGGS

Supplies of fresh eggs continue to diminish and the market is hardening in consequence. The following prices for supplies (as from this morning) will be ruling as buying prices by most city stores to farmers and other producers: Firsts 2s Id, seconds Is lid, pullet Is 4d, duck If lid a dozen, all prices being net.