COMMERCIAL

Press, Volume LXXVII, Issue 23414, 22 August 1941, Page 9

COMMERCIAL

STOCK EXCHANGE BUSINESS

WIDE DEMAND FOR SHARES

FEW TRANSACTIONS RECORDED

There was good inquiry for a wide range of stocks on the Christchurch Stock Exchange yesterday, but business was restricted. Buyers of New Zealand Government 4 per cent, stock, due 1949-52 and 1955 raised their bids to £lO6 10s and £lO7 2s 6d respectively without attracting, sellers.

Buyers of Bank of Australasia advanced to £8 14s, no sellers offering. Buyers’ offers for New Zealand Insurance, Goldsbrough, Mort, Permanent Investment, Felt and Textiles, Wellington’ Woollens, Melbourne Co-op. Brewery, and Tooths Brewery revealed firmer markets.

Broken Hill Proprietary were firm at 42s 6d, market closing 42s 3d buyers, 43s sellers. Buyers of Colonial Sugar raised their bids to £55 10s, but sellers were reticent. Wilson’s Cement were firmer with buyers at 19s 6d. Woolworth? Properties advanced to 26s Id, market closing 25s 6d buyers-, 26s 6d sellers. ■ Associated. Gold Dredges (14s paid) dropped to 13s, and more were wanted at 13s Id, sellers at 13s 4d. Sales on Change—Listed Stocks:. 50 Broken Hill Proprietary, 42s 6d; 100 Wo'olworths Properties, 26s Id. Sales Reported—Unlisted Stocks: 300 Associated Gold Drdeges (14s paid), 13s (2). '

LATEST QUOTATIONS

N.Z. Govt. Debentures.—3J p.c. Ins.. 1953-57, s. £lO2 ss; 3J p.c. Ins., 22/5/60, o. £102; 4 p.c. Ins., 1943-46, b. £lOl, s. £lOl 10s;-4 p.c. Ins,, 1946-49, s. £lO5 15s; 4. p.c. Ins., 1949-52, b. £lO6 10s; 4 p.c. Ins., 1952-55, b. £lO7 2s 6d; 4 p.c. Bonds, 1946, b, £101; 4 p.c, Bonds, 1955, b. £107; War Loan, 1/10/53, s. £B7 10s; National Development Loan, 31 p.c., 1956-59, s. £IOO 10s.

Company Debentures.—Auckland Gas, 5 p.c. Perpetual, s. £100; Timaru Gas, 4 p.c., 1/11/45, b. £B9. Banks.—Adelaide, s. £6; .Australasia, b. £8 14s; Comm, of Australia, b. 14s lOd; Comm, of Australia (pref.), b. £9; Comm. *f Sydney, b. £lB, s. £2O; National of N.Z., b. £1 18s 6d, s. £1 19s 6d; N.S.W., b. £2B 10s; N.Z., b. £1 19s 6d; N.Z. (Mort shares), s. £1 12s 6d; Union of Australia, b. £6 15s. Insurance.—Aust, General, s. 18s 6d; Mercantile Mutual, b. £1 8s 3d, s. £1 10s; National, b. 18s lOd; N.Z., b. £3 Ss 9d. Loan and Agency.—Christchurch Building, b. £l6 17s 6d; Dalgety and Co., b. £6 2s 6d; Goldsbrough, Mort, b. £1 6s 9d. s. £1 8s 6d; Mutual Benefit, b. £l4 lOs; National Mortgage A, b. £1 15s; National Mortgage B, b, £1 Is; N.Z. Guarantee Corpn., b. 2s 6d; N.Z. Loan and Mercantile (ord stock), b. £3l, s. £36; Perm. Investment, b. £9 17s 6d; United Building, b. £1 Os 7d. , Shipping.—P. and O. Deferred Stock, b. £1 10s; Union (pref.), b. £1 6s 3d. Frozen Meat.—Canterbury, b. £lO 10s; Gear, b. 13s 8d; N.Z. Refrlg ; (£1 paid), b. 19s 4d, s. £1 0s 3d; N.Z. Refrig. (10s paid), b. 8s lOd, s. 9s; North Cant. Freezing (pref.), b. 17s, s. IBs; Waltaki, b. £4 Bs.

Woollens.—Bonds Hosiery, b. £1 8s; Felt and Textiles, b. £2 3s 6d;' Kalapol (17s paid) b. 16s 6d, s. 17s 6d; Kalapol (7s paid), b. 5s 6d, s. 6s 6d; Kaiapot (pr(sf.), b. 18s; Manawatu. b. £1 2s 6d; Mflsglel, b. £lO ss; Oamaru, b. £1 2s; Timaru, b. 16s; Wellington, b, £6 10s;" Wellington (prel.), b. £7; Yarra Falls, b. £2 4s. Coal.—Grey Valley, s. Bs 3d; Kaltangata, b. £1 11s 6d; Westport, b. £1 3s, s. £l* 4s; Westport-Stockton. b. 2s 3d; WestportStOckton (pref.), b. 6s 6ri. Gas.—Christchurch, b. £1 2s, s. £1 4s; Christchurch (10s paid), b. 10s 9d; Wellington, b. £1 8s 6d. I Brewetles.—Ballins .■ (15s paid), b. 11s; ..Melbourne Co-op,, b. £2 15s 8d; New Zealand, b. £1 14s od. s'. £1 15s 6d; Swan, b. £1 ss; Tooths, b. £2 13s, s. £2 17s. • Miscellaneous.—Alloy Steel (N.Z.), b. £1 10s; Aust. Con. Industries, b. £2, 8s 9d; Beath and Co., b. 18s 3d; Berlel (N.Z.). b. £3 7s 6d; Booth, Macdonald (pref.), b. 6s,' s. 5s 7d;'British Tobacco, b. £2 6s; Broken Hill Pty„ b, £2 2s 3d, s, £2 3s; Burns, Phllp. b. £2 12s, s. £2 14s; Bradford Cotton, b. £2 Is; Claude Neon (Sydney), b. £1 2s; Colonial Sugar, b. £55 10s; Dominion Builders, b. 4s 6d; Dominion • Fertiliser, s. £1 3s 6d; Donaghy Rope (rights), s. 14s 9d; D.I.C. (10s paid), b, 13s Bd, s. 14s 3d; Dunlop Rubber (cum dlv.), b. £1 2s. s. £1 3s 8d; Electro. Zinc, b.‘£2 13s 3d, s. £2 14s 6d; Electro. Zinc (pref.) b. £2 15s 3d; Evans Atlas Flour; s. £1 8s; G. J. Coles, b. £3 4s 6d; General Industries, b. 18s 9d; Hay’s, Ltd., b. £1 6s; Hay’s. Ltd. (con.), b. El Is; Howard Smith, b. £1 0s 8d; Hume Pipe (Aust.), b. 13s 6d: Macky. Logan, b. £1 2s; Masonite, b. £1 7s 6d: Mason, Struthers (£1 paid), b. 10s, s. 12s 3d; Mason, Struthers, (14s paid), s. 9s; Mason, Struthers (10s paid), b. 3s lOd, s. 7s; M.K. Manufacturers, b. ss, s. 6s; Morts Dock (cum div.), b. 18s 6d; Macduffs, b. 8s 10d>. s. 9s 6d; Macduffs (pref.), b. 19s Id, s. 19s 6d; National Electric, b. £1 os7d; N.Z. Drug Co., b. £3 17s 8d; N.Z. Drug,. Co. (£1 paid), ta. £2 10s; N.Z. Farmers’ Co-op. (£2 10s paid), b. ss; N.Z. Farmers’ Co-op. (A pref.), b. £1 13s. s. £2 Is; N.Z. Drug Co. (B pref.), b. £1 ss, s. £1 10s; N.Z. Drug Co. (41 p.c.. Stock, 1949), b. £Bl ss; N.Z. Farmers’ Co-op. (41 p.c. Stock, 1950), b. £B2; N.Z. Farmers’ Co-op. (41 p.c. Stock, 1955), b. £B2; New Colosseum, b. £1 ss; N.Z. Newspapers, b. £1 10s; N.Z. ■ Paper Mills, b, £1 11s; Otago Daily Time? (ex dlv.), b. £1 15s 9d; Quill, Morris (1938) (cum dlv.), b. 17s' s. El: Silverton Tramway (ex dlv.). b. £1 8s 8d; Selfridges, b. 18s; Tingey, R. and E. (PreL) b, £l ls 6d; United Pictures, b. 3s, s. 5s 8d; United Provisions, b. 6s 6d; Weeks (ex dlv.), b. £8; Whitcombe and Tombs, b. £3 8s 6d: Wilson’s Cement, b. IBs 6d, s. £1 0s 8d: Woolworths (Sydney) (ord ). b. 17s 6d. s. 17s 9d; Woolworths (West Australia), (cum dlv.), b. £3; Woolworths (N.Z.). b. 14s; Woolworths Properties, ,b. £1 5s 6d, s. £1 6s 6d. . . „ ■ . Overseas Listing.—Woolworths (S.A.), b. Mining.—Broken Hill South, b. £1 6s: Mt. Lyell, b. £1 7s, s. £1 7s Bd; Mt. Morgan, b. 9s 3d, s. 9s 8d; New Broken Hill, b. 12s: North Broken Hill; b. ,£2 Is; Loloma, b. £1 ss; Placer Development, b. £3 ss; Rawang Tin, s. 9s fld; Satupolo, b. 12s 6d. N.Z. Mining.—Addison’s Flat, s. Is. Alexander, s., ss:' Arahura, b. £1 5s 6d; Argo . (cum dlv.),' b. 3d, s. 8d; Austral (N.Z.) Mining, b. £1 2s 6d; Big; River, b. Bd, s. Is Old; Golden Sands, b. sd. s. Bd; Grey River, b. 15s Id; Kanieri, s. £1 ss; Maori Gold, b. 2d, s. 6d; Moonlight Goldfields, b. 2d s. 4d; New River, b. 2d, s. sd; Ngahere', s. 10s Bd; Snowy River (5s paid), b. 5s 6d: Worksop Extended, b. Id; Slab Hut (ss'paid), b. 4s, s. 4s Bd; Una Hill, b. Is 3d, s, 2s. „ Unlisted Stocks.—Apex Ice, b. 12s 6d, s. £1; Apex Ice (pref.), b. 13s, s. £1 Is; Assoc. Gold Dredges (14s paid), b. 13s Id, s. 13s .4d; Aust. Motorists’ Petrol, b. 9s 6d; Blackball Creek, b. 6)d, s. 9d; Chßistchurch Press, b. £7 10s; Carbonic Ice, b, £1 11s. s. £1 16s; Lange’s Mobile Gas, s. 10s; National Tobacco, b. £1 10s. AUCKLAND Sales.—National Insurance. 19s 7d: South British, 565; F.A.C. (£2 paid), 25s 6d (odd lot): F.A.C. (£1). 14s (2); Newton King (pref.), 11s 6d; United Building (Auckland), 18s 6d (late sale): Northern Steam, 4s 3d: Martha. Bs. WELLINGTON Sales.—National Insurance, 19s 6d; South British Insurance, 55s 6d; N.Z. Breweries, 355; Grey River, 15s 3d (all late Wednesday): 4 p.c. 1955 Ins. Stock, £lO7 7s 6d; National Insurance. 19s 6d; South British, 55s 6d; Westport Coal. 23s 6d. Unofficial List.—N.Z. Farmers’ Co-op. Distributing Co. (11s 6d paid), 7s 6d; Kilbirnle. Theatres. 10s. DUNEDIN Sales.—l. p.c. ■ Ins. Stock, 1946-49, £ 105 15s; National Mortgage (2), 345; Perpetual Trustees, 51s 3d; Mount Morgan, 9s 7d; Wellington Alluvlals. 3s 6d.

RAILWAY WORKING ACCOUNT (P.A.) WELLINGTON, -August 21. The Railway Working Account for the four-weekly period ended July 19 Is:— Net Rev. Exp. Rev. £ £ £ Gisborne .. 2,076 2.600 *524 N.I. main line and branches .. 422.271 413,934 8,337 S.I. main line and branches .. 236,422 249,410 *12,988 Westport .. 8,479 6,934 1,545 Nelson .. .. 453 1,577 *1,124 Picton .. .. 2,814 4,105 *1,291 Total railway operation 672,515 678,560 *6,045 Miscellaneous services 110,339 85,701 24.638 Total 782,854 764,261 18,593 ' .. ‘Minus. From April 1 to July 19 the totals were: Revenue, £3,375,563; expenditure, £2,055,123; pet revenue, £420,440; and for the corresponding period last year the totals were: Revenue, £3,323,550; expenditure, £2,873,619; net revenue, £449,931,

RESERVE BANK

RETURN

STERLING EXCHANGE

HIGHER

NOTE ISSUE SHOWS DECLINE

The weekly return of the Reserve Bank of New Zealand to August 18 shows a rise of £29,737 in the sterling exchange holding over the previous week. The note issue is £20,386 lower. Advances to the State "for other purposes" have been reduced by £500,000. The statement is as follows: Liabilities.—(l) General reserve fund, £1,500,000 (same); (2) bank notes, £21,939.564 (—£20,386); (3) demand liabilities; (a) state. £9,561,426 ( + £439,828); (b) banks. £12,347,301 (—£413,415); (c) other, £1,237,903 (—£257,761); (4) time deposits, nil (same); (5) liabilities in currencies other than New Zealand currency, £4286 (—£3869); (6) other liabilities, £1,001,114 ( + £28,708). Total, £N.Z.47,591,593 (—£226,895). Assets.—(7) Reserve: (a) gold, £2,801,875 (same); (b) sterling exchange, £15,333,865 ( + £29.737); (c) gold exchange, nil (same): (8) subsidiary coin, £51,464 ( —£1016); (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—(l) Marketing Department £6,021,996 ( + £252.123); 12) for other purposes £18.000,000 (—£500,000): (b) to other public authorities, nil (same): (c) other, nil (same): (11) investments. £3,772.556 (same): (1?) bank building, nil (same): (13) other assets, £1,609,836 (—£7740). Total. £47,591.593 (—£226,895). The proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 40.215 per cent (last week 39.918 per cent.). Home Guard Course Cancelled.—The monthly training course for officers and non-commissioned officers of the Home Guard which was to have been held at the New Brighton Racecourse on Saturday' and Sunday next has been postponed because of the wet state of the ground.

NEW ZEALAND DAIRY COMPANY

(P.A.) WELLINGTON, August 21. A record production ox 84,716 tons of dairy produce, and a record gross turnover of £10,980,808, an Increase of £1,144,682 on last year, were reviewed at the annual meeting of supplier-shareholders of the New Zealand Co-operative Dairy Company in Hamilton to-day.

CLEARING SALE AT KOITERANGI

A successful sale of a dairy herd and sundries was held on the farm of the late James O. Agnew. The herd <was in excellent condition and 24 cows, coming to profit, averaged £7. Two-yesr-old heifers averaged £6 10s. A hack gelding sold for £l6, an Anderson petrol engine £lB, separator and vat £l3.