COMMERCIAL

Press, Volume LXXVIII, Issue 23715, 13 August 1942, Page 6

COMMERCIAL

STOCK EXCHANGES LOCAL MARKET QUIET Markets were quiet on the Christchurch Stock Exchange yesterday. The demand for the various issues of Government Stock remained firm, sellers being notably absent. In the banking section buyers of E., S„ and A. Banks raised their bids to £3 6s without attracting sellers. , Insurances generally were very firm, buyers of National at 19s 9d, New Zealand at 68s, and South British at 595, and Standard at 52s 6d, the only seller being that for. South British at 61s. New Zealand Refrigerating (fully paid) were firm on buyers’ offers of 21s 6d, sellers asking 21s 9d. Westport Coal were firm with buyers at 24s 6d; no sellers. Christchurch Gas (fully paid) were fractionally firm with buyers at 22s 7d, no sellers. A.C.X. had buyers at 45s 6d, sellers 46s 9d. Broken Hill Pty. were firm with sales and buyers at 36s 3d, sellers asking 36s 9d. G. J. Coles were fractionally firmer at 48s 6d buyers, no sellers. Woolworths, Ltd., were firm, buyers 15s sd, no sellers. In the mining section Mount Lyells were firmer on buyers’ offers of 255.i without sellers. The local mining market remained quiet. Sales Reported.—Listed stocks: 100 New Zealand Refrigerating (£1 paid), 21s 6d; 100 Broken Hill Pty.. 36s 3d. AUCKLAND Sales.—Bank of New Zealand (2), 39s 6d; Broken Hill Pty. (2), 365; Sanford. 4s 6d; Una Hill, 4d; Auckland Gas (con.), 2s 6d; Colonial Sugar, £4B; M.K. Manufactures, 5s 6d; New Zealand Insurance, 69s 6d; South British Insurance, 60s; Consolidated Brick, 7s; Radio, 12s; Woolworths (N.Z.), 14s Id. WELLINGTON Sales.—On Tuesday: 4 p.c. Stock, 1954-58, £lO7 10s. Yesterday: 3 p.c. Stock, 195154, £99; Liberty Bonds, 18s; N.Z. Refrigerating (£1), 21s 6d; McKenzie’s Stores, 395; Woolworths (N.Z.), 14s Id, 14s 2d. DUNEDIN Sales Reported.—Stock, 1952-55, £lO6 15s; Kaitangata Coal, 325; Wilson’s Cement, 17s 3d; Woolworths (N.Z.), 14s Id; Martha Gold, 8s; Waihl Investments, 3s Id; A.C.1., 46s 6d. Reported after call: Stock. 1954-58, £lO7. STOCKS QUOTED IN LONDON (Received August 12, 7 p.m.) LONDON, August 11. Quotations for bank shares and debentures are:—Bank of Australasia, 100s: E., S., and A. Bank, 475; Union Bank of Australia, 77s 6d; Bank of New South Wales, £l7; National Bank of New Zealand, 235; Bank of New Zealand, 275; British Tobacco, 23s 9d; Goldsbrough, Mort, 15s; Dalgety, £75: P. and O. Deferred, 28s; New Zeafland Loan and Mercantile, 4 per cent., £6B 10s; do. (ord.), £lO 10s. COMPANY NEWS Quill Morris (1936), Ltd.—At a meeting of directors of Quill Morris (1936), Ltd., it was resolved to pay an interim dividend at the rate of 5 per cent, per annum free of national and social security taxes. The dividend is payable to shareholders on August 31 next. Southland Frozen Meat.—On August 7, an interim dividend of 18d a share to be paid by the Southland Frozen Meat Company, was reported in “The Press.” This should have read 8d a share. RABBITSKIN LEVY WITHDRAWN COMMITTEES DECISION (P.A.) DUNEDIN, August 12. Because of the lower value of skins and uncertainty in regard to the export market, the Rabbitskin Committee, which met in Dunedin to-day, decided to withdraw the levy on skins until further notice. Skins catalogued for the sale on August 11, which was postponed will, however, remain subject to the 10 per cent. levy. The committee also decided that a subsidy of Is a skin will be paid on all milky does caught from August 12 until October 30. To qualify for the subsidy, such skins must have the ears left on the pelts. The committee reached agreement as to which skins may be classified as milky does, and the committee will be the sole judge of skins which will qualify for the subsidy. The subsidy will be added to the market price and will reach trappers and farmers as an addition to the prices they receive for these skins, irrespective of the method by which they are sold.

A subsidy of 2d a skin will be paid on all skins which are unmarketable because they are too small. Thsee include "nester?” and "kittens.” Such skins must be removed from the carcases, dried, and threaded, and sent to any of the licensed brokers, through whom the subsidy will be paid.