FINANCE AND COMMERCE

Press, Volume LXXVII, Issue 23444, 26 September 1941, Page 5

FINANCE AND COMMERCE

STOCK EXCHANGES LOCAL MARKETS FIRM Firm but quiet conditions prevailed on call yesterday, and recorded dealings were restricted to a few stocks. Apart from vestibule business, the following transactions were -recorded:— Sales on 'Change: Listed Stocks—7o South British Insurance (cum div.), 56s 6d; £IOO N.Z. Farmers' Co-op., 4J per cent, stock, 1950, £BS 15s. Sales Reported: Listed Stocks —£300 3| per cent. Ins., 1957-60 (late sale Wednesday), £99 10s; 100 Commercial Bank of Australia (pref.) (late sale Wednesday), £9 15s; 100 Bank of New Zealand (late sale Wednesday), 39s lOd; 100 Wright. Stephenson, 18s. Sale Reported: Unlisted Stock—3oo Associated Gold Dredges (14s pd.), 13s. Freezing Stocks Firmer A late sale of New Zealand Government 3i per cent, stock, due 1957-60, on September 24, was reported at £99 10s, and unsupported sellers wanted £99 15s yesterday. Late business in Commercial Bank of Australia (pref.) on September 24 was reported at £9 15s. A late sale of Bank of New Zealand on the same day was reported at 39s 10s. South British Insurance (cum dividend and bonus) rose r arply to 56s 6d, and late offers of 57s failed to attract sellers. Wright, Stephenson and Co. changed hands at 18s, and late unsupported sellers wanted 18 s 9d. Buyers of New Zealand Refrigerating raised their bids to 20s 3d, but sellers were reticent. Waitaki Farmers’ Freezing were firmer on buyers' offers 92s 6d. New Zealand Breweries were firmer, with buyers at 35s lOd, New Zealand Farmers’ Co-op., 4i per cent, stock, due 1950. scored a rise of 15s. with business at £BS 15s, and there were further buyers at £BS 10s, no sellers offering. Grey River (cum dividend of 6d a share) claimed buyers at 15s 6d, but sellers wanted 16s. Unlisted Stocks.—Associated Gold Dredges (14s paid) remained unaltered with sellers and business at I3s. LATEST QUOTATIONS N.Z. Govt. Debentures.—3J p.c. Ins., 1953-57, b. £101: 31 p.c. Ins., 22/5/60. b. £102; 3} p.c., 1957-60, s. £99 15s; 4 p.c. Ins., 1943-46, b. £lOl 10s; 4 p.c. Ins., 1946-49, b. £lO4 10s; 4 p.c. Ins., 1952-55, s. £107; 4 p.c. Ins.. 1954-53, s. £108; Rural Bonds. 5 p.c., 15/9/47, b. £lO2 7s 6d; War Loan, 1/10/53, b. £B7; War Loan. 3 p.c., 1/8/51-54, b. £97. Company Debentures—Auckland Gas, 3J p.c. Perpetual, s. £9B; Booth. Macdonald, 5 p.c.. 1/6/47, b. £B2. Banks.—Australasia, b. £8 10s; Comm, of Australia, b. 15s 3d; do. (pref.), b. £9 10s; Comm, of Sydney, s. £l9; National of New Zealand, s. £1 19s 6d; New South Wales, b. £2B; New Zealand, s. £2. Insurance.—Mercantile Mutual, b. £1 9s 6d; National, b. 19s 7d; New Zealand, b. £3 6s 6d; South British (cum div.), b. £2 17s. Loan and Agency.—Christchurch Building, b. £l7: Dalgety and Company, b. £6 ss; Goldsbrough, Mort. s. £1 9s; N.Z. Guarantee Corpn. (cum div.), b. 3s, ;. 3s 3d; United Building (ex div.), b. £1 Is 3d: Wright, Stephenson, s. 18s 9d; Newton King (pref.), b. 9s 6d. Shipping.—Huddart Parker (pref.), b. £1 6s; P. and O. Defd. Stock, b. £1 12s: Union (pref,). b. £1 6s 9d. Frozen Meat.— Canterbury, b. £ll 10s; do (pref.), b. £7 2s fid; Goar, s. 15s Dd; N.Z. Refrig. (£1 paid), b. £1 0s 3d: do. (10s paid), b. 8s lid. s. 9s Id; North Cant. Freezing (pref.). b. 17s 9d. s. 18s 6d; Southland. b. £1 12s; Waitaki. b. £4 12s 6d Woollen I !.—Bonds Hosiery, b. £1 8s 6d. Bruce b. £1 2s 9d: Felt and Textiles (ex div ) s £2: do. (rights), s. 7s 3d: Kaiapoi (7s paid), b. 5s Od, s. 6s Id; do. (pref.), b. 17s 6d: Mosglel. b. £lO 10s; Oamaru, b. £1 3s* Timaru, b. 16s 10dt Wellington, b. £8 12s 6d; do. (pref.), b. £7 2s 6d. C oa i,—Grey Valley, b. 4s 6d, s. 7s 6d, Kaitangata, s. £1 14s; Westport, b. £1 4s Auckland (5s paid), b. 2s 4d: Auckland, b. 6s 9d: Christchurch b. £1 2s s £1 3s: do. (10s paid), b. 10= 9d. s. 12s: Wellington, b £1 9s 9d Breweries.—Ballins (Iss paid), b. 11s. s. 11s 8d; Dominion, b. £1 10s; do (pref ). b. £1 10s 6d: New Zealand, b £1 15s lOd, c £1 15s lid: Queensland, b. £1 4s 9d. Swan, b. £1 5s 3d: Tooths, s. £2 16=. Castlemaine Perkins (ex div.), s. £1 2s 9d. Miscellaneous.— Alloy Steel (N.Z.L b. 14a; Andcrsons (prel)j 8. W# Beatn

and Company (cum div.). b. 17s. s. £1; do. (pref.) (cum div.), b. £1 2s 9d, s. £1 4s; Berlel (N.Z.), b. £3 7s 6d: Booth, Macdonald (pref.), b, 4s, s. ss; Broken Hill Pty„ s. £2 3s; do. (new) (10s paid), b. £1 8s Gd; do. (new, £1 paid), b. £2; Colonial Sugar, s. £56 ss; Dominion Builders, s. 6s; Dominion Fertiliser, b. £1 3s 6d; Donaghy Rope (rights), b. 16s; D.I.C. (10s paid), b. 14s 3d; do. (pref.), b. £1 4s 6d; do. (pref.), b. £1 12s 6d: Electro. Zinc. b. £2 14s; do. (pref.). s. £3; Farmers’ Trading, s. £1 2s; Hay’s. Ltd., b. £1 6s; do. (con.), b. £1 2s; Hume Pipe (Aust.), b. 14s 3d, s. 15s 3d; 1.C.1. Aust. and N.Z. (pref.), b. £1 3s 6d, s. £1 4s 9d; Macduffs, b. 8s lOd, s. 9s 6d; do. (pref.), b. 19s lOd; N.Z. Farmers’ Co-op. (B pref.). b. £1 7s. s. £1 16s 6d; do. <4J p.c. Stock, 1949). b. £BS 10s; do. (4J p.c. Stock. 1950), b. £BS 10s; do. (4J p.c. Stock, 1955). b. £BS 10s; N.Z. Farm. Fertiliser (pref.). b. £1 3s 6d; N.Z. Newspapers, b. £1 11s 6d; Otago Daily Times, b. £1 18s 3d: Quill. Morris (1936), s. 19s 6d; Standard Cement, b. 19s 9d: Reid Rubber, b. £1 6s; Tingey. R. and E, (pref.), b. £1 Is 6d; United Pictures, b, 3s. s. ss; Weeks, b. £8 ss; Whltcombe and Tombs, b. £3 12s fid, s. £3 17s fid: Wilson’s Cement, b. 19s 7d; Woolworths (Svdney) (ord.). (ex div.), s. 17s 7d; do. (West. Australia), b. £3 3s; do. (N.Z.) b. 14S 2d, s. 14s sd; do. (N.Z.), (pref., ex div.), b. £1 18s lOd; do. Properties b £1 5s 9d; W. R. Carpenter (ex div.), b. £1 16s. s. £2 2s. • • . Overseas Listing.—Woolworths (S.A.), b. Mining.—Broken Hill South, s. £1 9s 3d: Mount Lycll. b. £1 7s, s £1 9s 9d; Mount Morgan, b. 9s 3d. s. 9s 9d; Wellington Alluvials, b. 3s 6d, s. 4s 3d. N.Z. Mining.—Addison’s Flat, s. Is 3d; Alexander, s. 4s 9d; Arahura. b. £1 6s: Argo, s 6d: Austral (N.Z.) Mining, b. £1 2s 9d; Big River, b. 8d; Grey River (cum div.). s. 16s: Kanieri (cum div.). s. £1 7s 6d; Maori Gold, b. 4d. s. 6d; Moonlight Goldfields, b. 2d. s. 4d; Mossy Creek. • s. 9d; New River, b. 2Jd, s. 4d; Ngahere, s. 10s; Snowy River (5s paid), b. 6s od. si 7s 9d; Worksop Extended, s. 3d; Slab Hut (5s paid), b. 4s 3d, s. 4s 9d; Una Hill, hj. Is 6d. s. 2s. Unofficial List.—Ass. Gold Dredg. (14s paid), b. 12s Bd. s. 13s; do. (Is deferred), b. 13s 9d: Aust. Invest. Trust, b. 2s 3d. s. 8s 6d; Blackball Creek, b, Bd. s. 10d: Christchurch Press, b. £7 12s fid: Carbonic Ice b £1 11s; Lange’s Mobile Gas. s. 10s: Rink Tax's, b, 4s 9d; Regent Theatre (Christchurch), b. 2s 9d, s. ss: Reece Ltd., E (pref.). s. 4s 9d: R.U.R. (N.Z.)., s. £3 10s; Urlwin’s, b. £2 3s: Westland Breweries, s. £1 4s ~ AUCKLAND S ? l cs .—War Loan, 1/8/31-54, 3 p.c., £97 ss; Government Stock, 15/8/52-55, 4 p.c . £107; Comm. Bank of Australia (pref.). £9 15s; Bank of New South Wales, £2B 10s- Bank of New Zealand. 39s 7d (late sale). 39s 7d, 39s 9d: F.A.C. (£1). l&j; Auckland Gas. 7s 6d: Oamaru Wool, 23s 3d Dominion Breweries. 30s 4Jd; do. (Pref.). 31s 6d; Donaghy’s Rope (rights) (2) 16s 3d; Farmers’ Trading, 225; 1.C.1. (pref.). 24s 6d; Milne and Choyce (deb.), 17s; New Zealand Drug, 78s 3d; Wilson’s Cement (2). 19s 6d. WELLINGTON Sales.—Woolworths, Ltd.. 17s 6d (late yesterday): 4 p.c. 1958 Stock, £lO7 ss. Bank of New Zealand, 39s 7d; Wellington Gas, 30s 6d; Impl. Chemicals (pref.), 24s Rd; National Electrical, 245; Woolworths. Ltd.. 17s 6d;' Big River, 9d; New Zealand Farmers’ Fertiliser, 20s. DUNEDIN Sales.—4 p.c. Stock. 1952-55. £107; War Loan. 1953. £B7 7s 6d: Donaghy’s (rights;. (2) 16s 3d; Milburn Lime, 38s; Big River, 9d. SVDNEY Investors marked time oh the Sydney Stock Exchange yesterday, awaiting details of the Federal Budget. Trading was very restricted and bidding was generally lifeless. _, _ ; Morning Sales.—Tooths, 52s 9d; Broken Hill Pty., 38s 9d; David Jones, 35s 6d; Farmers, 27s 6d; G. J. Coles, 645; Howard Smith, 22s 6d. „ _... Afternoon Sales.—Bank of N.S.W., £26 3s- Mercantile Mutual Insurance. 29s 6d; British Tobacco. 46s 6d; G. J. Coles, 635; Woolworths. 17s 4d; Selfridges. 21s 4d; Wilcox. Mofflin, 9s 3d; Mt. Morgan. 9s sd; North Broken Hills. 435. SYDNEY PRODUCE MARKETS (Received September 25. 11.30 p.m.) (UPA.) SYDNEY, September 25. Quotations on the Sydney, produce market are:— Bulk wheat, 3s Hid, bagged 4s 31d: flour. £l2 13s; bran and pollard, £6; potatoes, Tasmanian Brownells £ll, others £8; onions, £2O; maize, 3« Bd.

COMPANY NEWS IMPERIAL CHEMICALS INDUSTRIES Imperial Chemicals Industries of Australia and New Zealand, Ltd., announce that Leathercloth Proprietary, Ltd., Industrial Chemicals Proprietary, Ltd., Brunner Mond and Co. (Australasia), Proprietary, Ltd., and Zanic Proprietary. Ltd,, are wholly owned subsidiary companies of Imperial Chemicals Industries of Australia and New Zealand, Ltd. To simplify the structure of the organisation, it has been decided as from October 1 to merge the businesses of these subsidiary companies with that of the parent company. The subsidiaries will be placed in voluntary liquidation on September 30. MILNE AND CHOYCE Milne and Choyce, Ltd., Auckland, has declared final dividends payable on October 1 as follows:—3 per cent, on preference shares and 1 per cent, bonus, making 7 per cent, for the year; 3J per cent, on "B” preference shares, and 1 per cent, bonus, making 8 per cent, for the year; 2j per cent, on ordinary shares and 1 per cent, bonus, making 6 per cent, for the year; 2J per cent. Interest on debenture stock, and 1 per cent, bonus, making 6 per cent, for the year. MINING RETURNS Grey River.—The return to September 24 was 21Uoz in 112 hours from 80,270 yards. The company has amiounced the declaration of a dividend of fid a share, payable on September 30. Snowv River.—Snowy River Gold Dredging. Ltd. (West Coast), report net earnings of £9213 for the year ended June 30. The debit of £I9BB brought in from the previous year was extinguished and Preliminary expenses were written down by £268. leaving a surplus of £6857 t0 , bc L carried forward. The bank advance of £6OOO in December, 1940, for the purchase of Toasdalc’s Block, was repaid, and at the close of the year the overdraft was £192. Active operations did not begin until the middle of January. During the year the dredge treated 571,927 cubic yards for 19450z of gold,*valued at £16,342. Negotiations have been completed for the shifting of the White’s electric dredge, which recently ceased operations at Barrytown, to work an area up the Big Grey river at Walpuna. It is expected the reerection of the dredge will be commenced within two months, and that the Walpuna area will provide a working life Ot trom eight to 10 years. _