THE STOCK EXCHANGES

Press, Volume LXXIV, Issue 22591, 22 December 1938, Page 11

THE STOCK EXCHANGES

ACTIVITY IN MOUNT MORGANS

An odd parcel of New Zealand Government 4 per cent, stock, due 1946, changed hands at £97 ss, and more was wanted at that price. Commercial Bank eased to 16s 3d, and more were offered at 16s 4d. Late sales of Commercial Bank of Sydney on Tuesday were reported at £2l 10s. E., S., and A. Bank were easier, with sellers at £5 9s 6d. National Bank of New Zealand were firm at 50s, and Union Banks were a shade easier at £8 13s.

An odd parcel of Farmers' Trading changed hands at 18s 3d. Goldsbrough, Morts were weaker, with sellers at 28s lOd.

Grey Valley had business at 6s 6d, market closing 6d either way. West-port-Stockton Coal, preference, were steady at 7s, closing quotations 3d on either side. New Zealand Breweries were fractionally firmer at 38s Id, market closing Id either way.

British Tobacco had business on the morning call at 50s 6d, but on the afternoon call dropped to 49s 7d. Late sales of Broken Hill Proprietary on Tuesday were reported at 57s 7d. Dealings yesterday were at 57s 7d and 57s 6d, and there were further buyers at the higher price. Dunlop Rubber moved up to 21s 3d and there were further sellers at that figure, buyers at 21s. A late sale of Mount Lyells on Tuesday was reported at 28s lid. Sellers yesterday offered at 28s sd, buyers at 28s 4d.

UNLISTED STOCKS

DUNEDIN

LATEST QUOTATIONS

SYDNEY

GREY RIVERS AGAIN HIGHER

Grey Rivers, which sold on Tuesday at 16s, went to 18s on the Christchurch Stock Exchange's morning call yesterday, but in the afternoon they slipped back to dealings at prices ranging from 17s 4d and 17s, and closed with buyers at 16s lid, sellers at 17s Id. Turnover in Grey Rivers was 800 shares.

Mount Morgans were also active, 600 shares being turned over at prices ranging from 10s to 10s 3Jd. More were wanted at 10s 4d, sellers at 10s 4£d.

The total turnover for the day was moderate and price levels were irregular.

CALL AND DIVIDEND LIST

Dividends Due Sulphide Corpn.—pref, Is sterling a share .. .. To-day Worksop Extended—No. 13, Id a share .. .. .. To-day Morris Hedstrom—int., 3 p.c. .. Dec. 31 British Tobacco—final, 2 p.c; interim (1938-39), 2 p.c. .. Dec. 31 Natl. Bank N.Z.—int., 2J p.c. less tax .. •• Jan. 4 Wellington Woollen—int., 2i p.c. Jan. 5 Komata Reefs—int., 3d a share Jan. 6 Woolworths Props, (pref.)—halfyear, 6 p.c. p.a. on amount paid up .. .. . • Jan. 15 G. J. Coles —A pref., half-yearly 8 p.c. p.a. .. .. Jan. 16 Calls Farmers' Trading—new, 2s a share .. .. Dec. 31

BRITISH WAR LOAN LONDON, December 20. War Loan. 3i per cent., is quoted at £97 10s.

WORLD TIN TRADE

DECLINE IN PRODUCTION

CONSUMPTION ALSO LOWER

(raOU 008 OWS COBKXSPOItDIHT.) LONDON, November 28. The Statistical Bulletin, published by the Hague Statistical Office of the International Tin Research and Development Council, gives the following information (figures in parenthesis refer to the corresponding period of the previous year):—

World tin production in 1938 shows a considerable decline. In 1937 there was an average quarterly production of 52,100 tons; in the first quarter of 1938 production fell to 43,100 tons, in the second to 39,200 tons, and in the third to 32,300 tons. Production in September, 1938, amounted to 10,200 (19.400) tons.

Apparent tin consumption shows the same trend. The quarterly average for 1937 was 49,700 tons. In the first quarter of 1938 consumption declined to 41.000 tons, in the second to 40,000 tons, and in the third to 34,300 tons. World apparent consumption in September was 13.000 (18,400) tons.

The consumption statistics of principal countries for the first nine months of 1938 as compared with the corresponding period of 1937 show that the most marked decreases occurred in the three largest tin-consuming countries, the United States of America, the United Kingdom, and the U.S.S.R. In most of the other countries, apparent consumption increased. In Japan it rose by 22 per cent, to a monthly average of more than 800 tons in the first nine months of 1938. Its October consumption is estimated at approximately 1800 tons. World tinplate production in the third quarter of 1938 was 688,000 tons, against 730,000 tons in the second, and 743.000 tons in the first quarter. The quarterly average for 1937 was 1,064,000 tons. The world output of automobiles in the third quarter of 1938 was 637,000 vehicles, against 988,000. in the second, and 1,016,000 in the first quarter. The quarterly average for 1937 was 1,590,000 vehicles.

LONDON METALS MARKET

GOLD AND SILVER

LONDON, December 20. Gold is quoted at £7 8s lOd a fine ounce. Silver is quoted at 20Jd an ounce spot and 19Jd forward.

COLOMBO TEA AUCTION

DUNEDIN, December 21. " Mr L. M. Wright has received the following cabled report on the Colombo tea auction on December 20:—The offering of 2,500,0001b was the last for the year. Competition was keen for all grades, prices remaining unchanged from last week's rates. The quality of the offerings showed a further decline.

LISTED STOCKS Sales on 'Change £ s. d. £210 N.Z. Govt. 4 p.c. Ins.. 1943-46 97 5 0 100 Comm. Bank of AusY. 0 16 3 100 National Bank of N.Z. (cum div.) 2 10 0 100 N.Z. Breweries 1 18 1 150 British Tobacco •- 2 10 2 9 6 7 100 Broken Hill Propty. .. 2 17 7 2 17 6 200 Dunlop Rubber (2) 1 1 3 600 Mount Morgan (2) 0 10 0 0 10 1 (2) 0 10 3 0 10 3J 800 Grey River (4) 0 18 0 0 17 10 0 17 4 (2) 0 17 3 0 17 2 0 17 0J

0 17 0 Sales Reported 15 Comm. Bank of Sydney (late Tues.) (2) 21 10 0 30 Union Bank (2) 8 13 0 105 Farmers' Trading (odd) 0 18 3 100 Grey Valley 0 6 6 250 Westport - Stockton Coal (pref.) 0 7 0 100 Broken Hill Propty. (late sale Tues.) (2) 2 17 7 100 Mount Lyell (late sale Tues.) 1 8 11

Buyers Sellers £ s. d E s. d N.Z. Govt. Debentures 3 p.c. Ins.. 1941 94 10 0 — 3} p.c. Ins., 1939-43 and 15/9/39-43 .. — 97 5 0 3J p.c. Ins.. 1939-52 — 96 12 6 4 p.c. Ins.. 1949-52 95 17 6 96 15 0 3J p.c. Ins.. 1941 96 10 0 — 4 p.c. Ins., 1943-46 97 5 0 — 4 p.c. Ins.. 1946-49 97 0 0 — 4 p.c. Ins.. 1952-55 96 10 0 — 4 p.c. Bonds. 1946 97 15 0 — 4 p.c. Bonds. 1949 . .. 97 0 0 — 4 p.c. Bonds. 1955 96 10 0 — Other Debentures , Wellington Harbour, 44 p.c. 28/2/40 — 101 0 0 Christchurch Trams. 4i p.c, 1/2/59 — 101 10 0 Malvern Electric Power, 44 p.c. 31/5/65 — 98 0 0 Banks Australasia (£5 paid) — 10 5 0 Comm. of Aust. (10s) 0 16 1 0 16 4 Comm. of Aust. (pf., £10) — 9 16 0 E., S.. and A. (£3 pd.) 5 5 0 5 9 6 Natl, of A'asia (£5 pd.) 6 12 6 6 19 0 Natl, of N.Z. (£2 10s paid) 2 9 6 2 10 9 N.S.W. (£20) 30 2 6 — New Zealand (£1) 1 19 8 1 19 11 Union of Aust. (£5 pd.) 8 12 6 8 15 0 Insurance New Zealand (£1) 2 10 6 2 11 6 South British (10s) .. — 2 2 0 Standard (£1 paid) .. 2 10 0 — Loan and Agency Dalgety and Co. (£5 paid) 7 15 3 7 18 6 Goldsbrough, M. (cum div., £1) 1 8 1 1 8 10 South Island Finance Corpn. (10s paid) .. — 0 8 4 Farmers' Trading — 0 18 9 United Building (£1) 0 19 1 1 0 0 Frozen Meat N.Z. Refrig. (10s paid) — 0 7 10 Woollens Felt and Textiles (£1) 1 11 6 — Kaiapoi (17s paid) 0 7 6 0 7 11 Kaiapoi (pref.. 17s) .. 0 13 6 — Coal Grey Valley (£1) 0 6 0 0 7 0 Pukemiro (£1) 0 15 4 0 15 10 Westport (10s) — 1 1 6 Westport-Stockton (10s) 0 3 9 0 3 11 Westport-Stockton (pf.. 10s) 0 6 9 0 7 3 Gas Auckland (£1) 0 18 3 0 18 11 Timaru (£1) — 0 15 0 Breweries New Zealand (£1) .. 1 18 0 1 18 2 Queensland (£1) 1 6 0 — Timaru (in liqdn.) 0 0 9 0 1 0 Tooths (£1) .. 2 16 0 — Miscellaneous Australian Alloy Steel (£1) — 0 9 0 Andersons (1st pref., £1) Anthony Hordern (£1) 0 15 10 0 19 0 16 0 0 Aust. Glass (£1) 5 4 b Beath and Co. (£1) 0 16 9 0 18 0 Berlei (N.Z.) (£1) .. 3 4 0 3 10 0 British Tobacco (£1) 2 ,2 6 2 9 8 Broken Hill Pty. (£1) 2 17 7 2 17 9 Broken Hill Pty. (con.. 10s paid) 2 4 0 2 4 4 Colonial Sugar (£20) 47 15 0 — D.I.C. (10s) 0 13 4 — Dunlop Rubber (£1) 1 1 0 1 1 3 G. J. Coles (£1) 4 1 3 4 2 6 Hay's, Ltd. (con.. 15s paid) — 0 16 6 Howard Smith (£1) .. 0 18 0 — I.C.I. (Aust. and N.Z., pref., £1) .. 1 3 6 —— Milburn Lime (£1) .. — 1 14 0 Morris Hedstrom (cum div., £1) 1 7 9 — Moturoa Oil (5s) —■ 0 5 C Macduffs (£1) — 0 3 3 McKenzies (ex div.. £1) .. •• —- 2 10 0 N.Z. Drug (£2 paid) 3 3 0 — N.Z. Farmers' Co-op. (10s paid) .. — 0 0 1 N.Z. Farmers' Co-op. (1st pref., £1) 2 10 0 4 0 0 N.Z. Farmers' Co-op. (4J p.c. Stock, 1949. £100) — 89 15 0 N.Z. Farmers' Co-op. (4| p.c. Stock, 1950, £100) — 89 7 6 N.Z. Farmers' Co-op. (4S p.c. Stock, 1955, £100) —• 89 2 6 Standard Cement (£1) 1 1 6 — Taranaki Oil. (24/7 pd.) 0 9 7 0 9 11 United Provis. (£1) .. 0 6 4 0 8 6 Whttcombe and Tombs (£2 10s paid) — 3 0 0 Wilcox Mofflin (lis) .. 0 6 0 0 6 9

Buyers. Sellers. £ s. d. £ s. d. Woolworths (Sydney), (ord., 5s) 117 12 0 Woolworths (N.Z.) (5s) 0 18 10 0 19 6 Overseas Listing Woolworths (S.A.) (5s) — 0 15 3 Australian Mining Broken Hill South (5s) 17 9 18 9 Mount Lyell (£1) 18 4 18 5 Mount Morgan (2s 6d) 0 10 4 0 10 4J Mount Morgan (pref., £1) 12 0 12 9 Nth. Broken Hill (5s) 2 8 0 2 9 0 Kawang Tin (10s) 0 7 0 0 8 3 N.Z. Mining Austral-N.Z. (£1) .. 12 7 — Big River (Is) 0 0 8 0 11 Golden Dawn (5s) .. — 0 2 5 Golden Point (6d) .. — 0 0 1 Goldfields Dredg. (Is) — 0 0 4 Grey River (10s) 0 16 11 0 17 1 Maori Gully (Is) — 0 0 71 Mossy Creek (Is) 0 0 111 — Nemona (Is) - — 0 10 New River (Is) 0 0 9 0 0 10 Skippers (Is) — % _ 0 0 01 Worksop Extend, (cum div., Is) 0 0 10 0 12

All transactions In stocks quoted in this section are subject to special brokerage and are not quoted on the official list: — Buyers. Sellers. £ s. d. £ s. d. Ballins Breweries 0 9 6 0 10 0 Blackball Creek Oil 012 Christchurch Press .. — 9 0 0 Kanieri 1 10 0 2 0 0 Riley, Arthur D. (pf.) — 0 19 0 Tingey, R. and E. — 10 6 Westland Breweries — 1 12 0

AUCKLAND Sales on 'Chang :e £ s. d. Ins. Stock, 1953-57, 3i p.c. 91 0 0 Iws. StocVt, \wa-«, Z\ p.e. 91 2. S Ins. Stock, 1952-55, 4 p.c. 96 5 0 Bank of New Zealand (2) 2 0 0 New Zealand Insurance 2 11 0 Westshore Stockton (ord.) .. 0 3 8 Northern Steam (paid) • • 0 3 6 Tooth's Breweries .. .. 2 16 9 Australian Glass .. 5 7 6 British Tobacco .. 2 10 6 Broken Hill Pty. ., 2 18 0 Colonial Sugar .. 48 5 0 Electro. Zinc (pref.) .. .. 2 10 0 Farmers' Trading # . 0 18 4 Imperial Chemicals (pref.) .. 1 4 0 Macduff's ## 0 2 6 0 2 3 Morts Dock .. 0 14 0 Wool worths (Sydney) 1 2 0 (2) 1 1 10 Martha 0 11 3 Waihi Investments .. 0 8 3 Overseas list Woolworths Holding (S.A.) (2) 0 15 1 WELLINGTON Sales on 'Change £ s *• New Zealand Breweries 1 18 0 Electro. Zinc, (pref.) 2 10 0 Broken Hill Pty. (2) 2 18 0 Woolworths, Ltd. (ord.) 1 1 11 (All above late Tuesday) New Zealand Breweries .. 1 18 0 Union Bank • • 8 13 6 Australian Glass a • 5 7 6 Electro. Zinc (pref.) .. • • 2 10 0 Taranaki Oil • • 0 9 8

Sale on 'Change Macduffs (ord.) Sales Reported Mount Lyell (late Tuesday) .. Wool worths (Sydney) £ s. d. 0 2 6 18 6 1 1 10

Investment business was very quiet in Svdney yesterday and price movements were within narrow limits. There was a good demand for Australian Glass shares, which moved to the record level of £5 es 6d. Commonwealth loans are firm. The exchange closes at 1 p.m. to-aay for the holidays. Morning Sales N £ s. d. Comm. Bank of Australia 0 16 0 Tooheys Tooths 1 10 6 2 14 3 David Jones 1 14 3 James Stedman 0 12 8 Afternoon Sales £ S. d. Bank of New South Wales .. 29 17 6 Commercial Bank of Australia 0 16 0 Colonial Sugar .. •• 46 7 6 Associated Newspapers (ex div.) 10 9 Huddart-Parker 2 10 6 Burns, Philp 2 12 6 British Tobacco 2 8 0 Tooths 2 14 3 Australian Glass ' .. 5 6 6 Paul and Gray 12 6 Claude Neon 1 11 6 W. Adams 0 14 9 Newbold Brick 18 9 Peters . • • • 2 12 0 Mark Foy 0 18 9 Goldsbrough, Mort (ex div.) .. 17 4 Woolworths 110 Mount Morgan 0 9 11 Mount Lyell 1 7 7J Broken Hill Pty. 2 16 3 North Broken Hill 2 7 9 Bulolo Gold 6 14 0 Emperor Gold 0 10 0 Austral-New Zealand 116 Oil Search 0 6 0 MELBOURNE Industrials were steady in Melbourne yesterday, but Barriers were easy. Bonds were firmer. Sales £ s. d. Australian Iron and Steel (pf.) 18 0 Dunlop Perdriau 10 8 Goldsbrough, Mort 17 3 Herald and Weekly Times 2 17 6 Mount Morgan 0 10 2 Mount Lyell 17 9 North Broken Hill 2 7 6 Broken Hill South 17 0 Loloma 114 LONDON Quotations: £ s. d. British Tobacco 1 16 6 Goldsbrough, Mort (nominal) .. 116 Dalgety (nominal) 5 6 3 P. and O. Deferred 116 Dalgety, 4 p.c. debs. 96 5 0

LONDON. December 20. Dec. 19. Dec. 20. A ton. A ton. Copper— £ s. d. £ s. d. Standard, spot 43 9 4h 43 14 4i Forward 43 14 4£ 43 18 U Electrolytic .. 49 5 0 49 10 • 0 to 50 0 0 50 0 0 Wire bars .. 50 0 0 50 0 0 Lead— Spot 15 0 7J 15 0 0 Forward 15 3 1£ 15 3 1£ Spelter— Spot 13 11 10* 13 13 1* Forward 13 14 4£ 13 15 7J TinSpot 213 12 6 213 17 6 Forward 214 13 9 215 2 6 Silver— Standard per or. 20Jd 20Jd Fine, per oz. 21 ll-16d 21 ll-16d