FINANCE AND COMMERCE
RESERVE BANK RETURN
STERLING EXCHANGES HIGHER
CHANGES IN DEMAND LIABILITIES
An increase in sterling exchange pf £433,540 is shown in the return of the Reserve Bank of-New Zealand for the week to June 16. Notes declined £49,693. Demand liabilities to the State fell by £647,918, those to the banks increasing by £1,287,405. The return is:—
Liabilities.—(l) General reserve fund. £1,500,000 /(same); (2) Bank notes. £21,711,015 (-£49,693); (3) demand liabilities: (a) State, £10,366,679 (-£647,918); (b) banks. £13,359,864 ( + £1,267,405); (c) other, £499,352 ( + £81.125); (4) time deposits, nil (same); (5) liabilities in other than New Zealand currency, £20,111 (-£16,956); (6) other liabilities, £1,272 922 ( + £15,891). Total, £N.Z.48,729,942 ( + £649,853). ; Assets.—(7) Reserve; (a) Gold, £2,801,875 (same); (b) sterling, exchange, £N.Z.21,844,977 ( + £433,540); (c) gold exchange, nil (same); (8) subsidiary coin. £53,350 (-£22,117); (9) discounts: (a) commercial and agricultural bills, nil (same);-(b) Treasury and local body bills, nil (same); (10) advances: (a) to the State or State undertakings, (1) Marketing Department, £5,030,920 ( + £220,202); (2) for other purposes, £13,500,000 (same); (b) to other public authorities, nil (same); (ci other, nil (same); (11) Investments, £3,772,569 (same); (12) bank buildings, nil (same): (13) other asse.ts, £1,726,251 ( + £18,227). Total, £N.Z.48,729,942 ( + £649,853). Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities 53.609 per cent. (53.386 per cent, last week).
STOCK EXCHANGE
FIRM MARKETS BUT LESS
BUSINESS
Markets continued firm on the Christchurch Stock Exchange yesterday, but there was a falling off in the volume of business.
1 Buyers of New Zealand Government 3J per cent. Bonds, 1953-57, raised their bids to £lOl 15s, without attracting sellers. Buyers of New Zealand Refrigerating (10s paid) moved'up to 7s 3d, but sellers wanted Ikl. Southland Frozen Meat were firmer, with buyers at 325. 'Kaiapoi Woollens i?s paid) were fractionally weaker at 4s lid, and more were wanted at that price, sellers at ss, Buyers of Oamaru Woollens raised their bids to .20s, but sellers wanted 20s 9d. New Zealand Breweries were steady with sellers and dealings at 31s 6d. Sellers of Tooths Brewery reduced their liuiits to 535, with buyers firm at 51s. Colonial Sugar remained unaltered at £53. Buyers of Milburn Lime advanced their offers to 37s Id, no sellers -quoting. Wilson’s Cement were firm, with buyers and business at 18s sd, sellers at 19s.
Sales on 'Change—Listed Stocks: 105 Kaiapoi Woollens (7s paid), 4s lid; 409 New Zealand Breweries, 31s 6d (3). Sales Reported—Listed Stocks: 10 Colonial Sugar, £53 (2); 320 Wilson’s Cement (ex div.), 18s sd. LATEST QUOTATIONS
N.Z. Govt. Debentures.-r-31 p.c. Ins., 195357, b. £lOl 12s Gd; 3i p.c. Bonds, 1953-57, b. £lOl 15s; 34 p.c. Ins., 22/5/60, b. £IOO 12s 6d; 4 p.c. Ins., 1943-46, s. £103; 4 p.c. Ins,, 1946-49. b. £lO3 10s; 4 p.c. Ins., 194952, b. £lO4 15s, s. £lO5 10s: 4 p.c. Ins., 1952-55, b. £lO4 15s: 4 p.c. Bonds, 1949. b. £lO3 ss; Rural Bonds, 5 p.c., 15/9/47, b. £lO2 10s; War Loan, 1/10/53, b. £B3 10s. Company Debentures.—N.Z, Refrig., 44 p.C., 1945, b. £101; Timaru, Gas, 4 p.c., 1/11/45, b. £B9. ; Banks.—Australasia, s. £8 10s; Comm, of Aust., b. 13s 9d, s, 14s; Comm, of Sydney, b. £l7 10s; National of N.Z. (ex div.), b. £1 12s; New South Wales, b. £27; New Zealand, b. £1 15s 9d. s. £1 16s sd; Union of Aust., b, £6 10s, s. £6 12s 6d. Insurance. —Aust. General., s. 18s 6d; National, b. 18s 3d; New Zealand, b. £3 2s 6d; South British, b. £2 12s 3d, s. £2 12s 9d; Standard, b. £3. Loan and Agency.—Ch.Ch. Building, b. £l6 ss; Dalgety and Co., b. £6 2s 6d, s. £6 12s Get; Goldsbrough, Mort (ex div.), b. £1 4s 6d; Mutual Benefit, b. £l4; Natl. Mortgage A (cum div.), s. £1 15s; Perm. Investment, b. £9 15s: United Building, b. £1 Is 4d, s. £1 2s. ’ ■ . Shipping.—Devonport Ferry, b. £1 Is; P. and O. Deferred Stock, b. £1 5s 6d; Union (pref.). b. £1 6s 3d. Frozen Meat.—Canterbury, b. £9 10s; N.Z. Refrig, (£1 paid), b. 18s 6d; N.Z. Refrig. (10s paid), b. 7s 3d, s. 7s 8d; North Cant. Freezing (pref.), b. 15s 6d, s. 18s; Southland, b. £1 12s. Woollens.—Felt and Textiles, b. £2. s. £2 2s 6d; Kaiapoi (7s paid), b. 4s lid, s. ss; Mosglel, s. £lO 4s; Oamaru, b. £l, s. £1 0s 9d;. Timaru, b. 13s 6d, s. 14s 9d; Wellington (pref.), b. £6 17s 6d. Coal.—Westport, b. £1 3s, s. £1 4s; Westport-Stockton. s. 2s 7d; WestportStockton (pref.), b., 6s 2d, s. 6s 9d. Gas.—Christchurch, s. £1 Is 6d;. Wellington, s. £1 10s 9d. Breweries.—Dominion (cum div.), b. £1 7s 6d, s. £1 8s 9d: Dunedin, s. £1 3s; New Zealand, s. £1 11s 8d; Swan, b. £1 3s; Tooths, b. £2 11s, s. £2 I3s; Ward (In liqdn.), s. Is 3d. ' Miscellaneous.—Alloy Steel, b. £1 7s 6d; Amalg. Wireless (18s paid), s. £2 7s Od; Andersons (pref.), s. 18s; Australian Con. Industries, b. £2 ,2s 6d; Aust. Con. Industries (con.), b. £1 15s; Aust. Distillery, b. 10s 6d, s. £1; Aust. Iron and Steel (pref.). b. £1 6s 3d; Beath and Co., b. 15s 3d; Begg and Co., b. £1 Is; Booth, Macdonald (pref.), s. 6s 2d; British Tobacco, b. £2 3s 9d, s. £2 7s; Broken Hill Pty., b, £2 2s 2d. s. £2 2s sd; Broken Hill Pty. (new, 5s paid), b. £1 4s. s. £1 8s;, Broken Hill Pty. (new. £1 paid), b. £2; Burns. Philp, s. £2 10s; Colonial Sugar, b. £52 15s, s. £53 5s- Dominion Builders, b. 5s 3d; Donaghy Rope, s. £2 12s;, p.I.C. (10s paid), b. 13s 6d; D.I.C. (pref.), b. £1 3s 6d; Dunlop Rubber, b. £1 0s 6d; Electro. Zinc,, b. £2 13s; Electro. Zinc (pref.). s. £2 19s; G. J. Coles, b. £3; General Industries, b. 17s; Hay’s, Ltd,, b. £1 6s: Hay’s, Ltd. (con.), b, £1 Is; Howard Smith, b. 19s, s. £1 2s; Hume Pipe (Aust.), b. 13s, s: 15s; 1.C.1. (Aust. and N.Z.) (pref.). b. £1 4s; Milburn Lime, b, £1 17s Id;; Macduffs, s,. 9s Id; Macduffs (pref.Ls. 19s 3d; N.Z. Drug, s. £3 17s 6d; N.Z. Drug (£1 paid), b. £2 9s; N.Z. Farmers’ Co-op. (A pref.), s. £1 19s; N.Z. Farmers’ Co-op. (B pref.). b. £1; N.Z. Farmers’ Co-op. (4J p.c. Stock. 1950), b, £80: N.Z. Farmers’ Co-op. (4J p.c. Stock. 1955), b. £80; N.Z. Farmers’. Co-op. (4J p.c. Stock, 20/2/51), b. £75, s. £B2; N.Z. Farmers’ Co-op. (4J p,c. Stock, 15/7/45), b. £7B. s. £B2; N.Z. Farmers’ Co-op. (4i p.c. Stock. 27/5/49), b. £7B, s. £B2: N.Z. Farm. Fertilisers, s. 19s 9d; N.Z. Paper Mills, b. £1 10s; North. Roller Milling, b. £1 0s 6d: Reid Rubber (rights), b. 2s 7d: Prestige (N.Z.) (prtf.), b. £1 0s 6d; Quill, Morris (1936), s. 19s 6d; Selfridges (A’asia) b. 16s. s. £1; Tingey. R. and E. (pref.). b. £1: United Pictures, s. 9s 9d; United Provisions, b. 5s 9d; Urlwins (pref.), b. £1 2s 9d; Weeks. Ltd., b. £8; Whltcombe and Tombs, b. £3 7s 6d, s. £3 13s: Wilcox, Mofflln. b. 8s 7d; Wilson’s Cement, b, 18s sd. s. 19s: Woolworths (Syd.) (ord.), b. 15s lid. s. 16s Id; Woolworths (N.Z.) (ex div.), b. 12s 6d, s. 13s; Woolworths (N.Z.) (pref.), b. £1 16s 3d; Woolworths Properties (ex div.), b. £1 4s 6d. Australian Mining.—Broken Hill South, b. £1 3s 6d; Mount Lyell, b. £1 6s, s. £1 6s 9d; Mount Morgan, b. 9s, s. 9s 6d; New Broken Hill, b. 11s 9d: Snowy River (5s paidL'b. ss. s. 8s 6d. N.Z. Mining.— Arahura (cum div.), b. £1 4s 6d; Austral (N.Z.). b. £1 3s, s. £1 3s 9d; Barrytown. s, 15s: Golden Sands, s. 8d; Kanieri, b. £1 2s 6d; Maori Gold, b. 2d, s. sd; Martha, b. 7s 4d; Mataki, b. 3d. s. 8d; Moonlight Gold., b. 2d. s. 4d; New River, b. 2d. s. sd; Ngahere, s. 11s 9d; Nokomai. b. lOd: Skippers, Ltd., s. 3d; Walhl Invest,, b. 3s 6d. Unlisted Stocks.—Assoc. Gold Dredges f!4s paid), b. 12s 4d. s. 13s 9d; Assoc, Mot. Petrol (pref.). b. £1 4s; Aust. Mot. Petrol (cum div.). b. 9s 3d: Apex Ice. b. 6s 6d. s. £1; Blackball Creek, 1 s. 10d; Brltisli Developments, s. 16s; Christchurch Press, b. £7 2s 6d. s. £7 17s 6d; Baffin's Breweries (debs.). s. £9O; Lange's Mobile Gas, b. Is Gd; Mlkonul (3/6 naid). s. Is; R.U.R. (N.Z.). s. £3 10s; Slab Hut (4s paid), b. 3s 6d, s. 4s Id; Square Pictures, s, £1 ss; Urlwin’s. b. £2 3s 6d; Westland Breweries, s. £1 10s. AUCKLAND Sales.—Govt, Bonds, 15/2/43-46, 4 p.c.. £lO2 10s; N.Z. Govt. Stock. 15/2/43-46. 4 p.c., £lO2 10s; Amalgamated Brick (Auckland), 1/3/44, 6 p.c., £lOl 10s: Bank of Australasia. £8 7s 6d:- Bank of New South Wales, £27 10s; Bank of New Zealand. 36s Id. 365; National Insurance, 18s 6d (2): New Zealand Insurance, 63f? 6d; Dominion Breweries (ord.), ■ 28s; New Zealand Breweries, 31s 6d; Farmers’ Trading, 19s: Taranaki Oilfields, ss; Woolworths (N.Z.), 13s; Reid Rubber (rights), 2s 10d, 3s; National Electric, 19s 9d. WELLINGTON Sales.—Union Bark. £6 10s 3d (late Wednesday);, Ins. Stock, 4 p.c., 1946, £lO2 15s; Bank of N.5.W.., £27 10s: Felt and Textiles, 41s; Colonial Sugar, £53; G. J. Coles, 625; Electrolytic Zinc, 565; Taranaki Oil. ss; Barrytown Gold, 10s; Woolworths. Ltd., 16s (2). Unofficial'List.—National Tobacco, 31s. DUNEDIN Sale.—N.Z. Breweries. 31s 6d. Sales Reported.—N.Z. Govt. 4 p.c. Stock, 1948, £lO4 ss; Trustees’ Executors (ex div.), 84s 6d. 84s; Tarffnakl Developments, 2s; Colonial Sugar (2). £53; Wilson's Cement, 18s sd; N.Z. Breweries, 31s 6d. SYDNEY .Although strong advances were made byCommonwealth Bonds on the Sydney Stock Exchange yesterday, other sections of the share market were quieter than on Wednesday, with an easier trend. Morning Sales.—Tooheys, 28s 3d; Tooths, 50s 3d; Anthony Hordern, 13s Id; Australian Consolidated Industries. 43s 3d; Broken Hill Pty., 39s 3d: Broken Hill Pty. (conteL 235; Dunlop Perdriau, 20s 9d; General Industries, 17s 3d. ■ „ Afternoon Sales:—Australian Gas A, 96s 6d; G. J. Coles. 59s 6d; Carlton Brewery, 60s 3d; Morris Hedstrom (ex div.). 19s 6d; Taubmans, 48s 9d; Felt and Textiles, 38s; Goldsbrough. Mort, 25s 3d; Henry Jones, 475; Placer Development, 61s. MELBOURNE Sales.—National Bank (£5 paid), £5 12s; Dalgetys, £5 10s; G. j; Coles, 60s; Gordon and Gotch, 375-9 d; Yarra Falls, 42s 6d.
COMPANY NEWS
GEAR MEAT
(P.A.) WELLINGTON. June 19. The Gear Meat Company has. declared an interim dividend of 3d a share, payablp on June 25.
FILLIP TO RECEIPTS OF CABLE AND WIRELESS
LONDON, June 18,
The world-wide demand for war news has resulted in a leap of nearly £2,000,000 in the 1940 message receipts of Cable and Wireless. Ltd., to £7,608,878— easily the highest since formation. The profit of £2,375,771 is also a record.
MINING REPORTS
Grey River.—The Grey River dredge return was 2013. ounces for 100,622 yards and 134 hours. ' , Barrytffwn,—During the first half of June the Barrytown dredge ran 207 hours, treated 90,000 cubic yards, for a return of 334 ounces. „ „ „ . Kanlerl.—The return for the first half of June for 211 hours was 579 ounces from 90.000 cubic yards. .. • Arahura.—During the first half of June the Arahura dredge ran 245 hours, treated 136.000 cubic yards for a return of 657 ounces. "
Silver and Tin.—Silver is quoted in London at 25-5-10 d a fine ounce and 23 7-16 d standard, tin at £264 5s (buyers) and £264 10s (sellers) a ton, spot, and £265 10s and £266 forward.
Public Trust Business.—Estates of a total value of £536,552 were reported and accepted for administration by the Public Trustee during the month of May, 1941. The total value of the estates.and funds under administration by the Public Trustee on March 31, 1941, was £64,436,092, and the new business lor the two months ended May 31 was £938,677. Grants of administration made by the Court m favour of the Public Trustee numbered 189 for the month. During the month 1022 new .wills appointing the Public Trustee executor were prepared on behalf of testators and lodged for safe custody, and 403 existing wills were revised to provide for changes desired by testators. The total number of wills now held in the Public Trust Office on behalf of living persons is 106,285,
SYDNEY PRODUCE MARKETS
"* (Received June 19, 11.40 p.m.) (UFA.) SYDNEY. June 19. The Sydney wheat market is firm. Silo grain is quoted |at 3s s llid. and bagged at Is 3Jd. Other quotations are:—Flour, £l2 13s; bran and pollard, £6; potatoes, Tasmanian £5 10s, others £4 lOsi onions, brown £l2 10a; matte, white 3s lOd; yellow 3s 7d. , ,~
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Bibliographic details
Press, Volume LXXVII, Issue 23360, 20 June 1941, Page 5
Word Count
2,094FINANCE AND COMMERCE Press, Volume LXXVII, Issue 23360, 20 June 1941, Page 5
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