COMMERCIAL

Press, Volume LXXVIII, Issue 23789, 7 November 1942, Page 6

COMMERCIAL

STOCK EXCHANGES

CHRISTCHURCH MARKETS FIRM

Prices on the Stock Exchange yesterday continued to show a firming tendency, and operators displayed much more confidence in the markets covering all sections with a raising of limits. Government stock, although not in the same demand as at the end of last week, nevertheless had one sale of 4 per cent, stock, due 1958, at £IOB. More were wanted at this price, but sellers advanced their limits to £IOB 10s. In the banking section, practically every quoted line was firmer on buyers prices. Sales recorded were in Commercial of Sydney at £l7 ss. and Bank of New South Wales at £3O, both of which were advanced by 5s on recent sales. National Bank of Australasia (contributing) had good business, 150 changing hands at £5 10s, the market closing at £5 9s buyers, £5 11s sellers. , , Insurance, Loan and Agency, and Shipping had keen buyers, but few sellers were registered, and those that were prepared to offer had fixed limits somewhat in advance of those declared by the buyers. All sections of frozen meat were wanted, but the only sale recorded was in New Zealand Refrigerating Company (contributing), which were sold at 10s 4d, and at which price further parcels were required. Woollens, Coal, Gas, and Breweries maintained their buying prices, but no business was recorded. In the miscellaneous section G. J. Coles changed hands at 55s 6d, and Woolworths Properties also were sold at 24s 6d, buyers remaining in at this figure with no declared sellers The general tone of the market at the close was very good, and buyers were much more in evidence, few sellers, however, being tempted to respond to the buyers’ quotations, although in quite a number of stocks over the week buying limits have been materially advanced. Sales on 'Change: Listed Stocks—£2oo 4 per cent, inscribed 1954-58 stock, £108; 100 National Bank of Australasia (£5 pd.) (cum div.), £5 10s (2); 100 New Zealand Refrigerating, (10s.pd.), 10s 4d; 115 Woolworths Properties, 24s 6d. Sales Reported: Listed Stocks—2s Commercial Bank of Sydney, £l7 ss; 50 National Bank of Australasia (£5 pd.) (cum div.), £5 10s; 5 Bank of New South Wales, £3O; 50 G. J. Coles, Sss fid.

LATEST QUOTATIONS N.Z. Government Debentures.— 2\ per cent. Insc., 1946, b. £9B 10s; 3 per cent. Ins., 1945, b. £IOO 10s; 3 per cent. Insc., 1951- s. £100; 4 per cent. Ins., 1943-46, b. £IOO 10s; 4 per cent. Ins., 1952-55, b. £lO7 10s; 4 per cent. Ins., 1954-58, b. £108: War Loan, 1/10/53, s. £94 10s; 2J per cent. Insc., 1947, b. £9B; 3 per cent. Insc., 1952- s. £99 10s. Banks.—Adelaide, b. £5 ss; Australasia, b. £8 12s 6d; Commercial of Aust,, b. 14s lOd, s. 15s 3d; Commercial of Sydney, b. £l7 ss; E., S., and A., b. £3 12s 6d; National of A/asia. (£5 paid) (cum div.), b. £5 9s. s. £5 11s; National of New Zealand, b. £2 ss; New South Wales, b. £29 15s; New Zealand, b. £2 0s sd, s. £2 Is 6d; do. (Mortgage Shares), b. £1 11s; Union of Aust., b. £7 ss, s. £7 10s. Insurance.—National (cum div.), b. £1 Is; New Zealand, b. £3 13s, s. £3 14s; South British, b. £3 3s; Standard, b. £3 9s, s. £3 10s 3d. Loan and Agency.—Christchurch Building, b. £l7 10s; Dalgety and Company, s. £7 10s; Goldsbrough, Mort, b. £1 6s 9d. s £1 7s 6d; National Mortgage ’’A,’’ b. £1 19s 3d; do. ’’B,’’ b. £1 2s; N.Z. Loan and Merc. (ord. stock), b. £29 10s; Permanent Investment, b. £lO, s. £l2. Shipping.—Huddart Parker, b. £2 ss; P. and O. Deferred Stock, b. £2; Union (pref.), b. £1 9s, s. £1 10s. Frozen Meat.—Canterbury, b. £l2 10s; do. (pref.), b, £7 12s 6d; Gear, b. 17s; N.Z. Refrig. (£1 paid), b. £1 3s 9d; do. (10s paid), b. 10s 4d, s. 10s 6d; North Canterbury Freezing (pref.), b. £1 Is 3d; Southland, b. £1 14s 3d. Woollens.—Felt and Textiles, b. £1 18s; Kaiapoi (17s paid), s. 19s Id; Kaiapoi (7s paid), b. 7s, s. 7s Id; Kaiapoi (pref.), b. £1; Manawatu, b. £1 10s, s. £1 15s: Mosgiel, b. £ll 10s; Oamaru, b. £1 3s, s £1 5s 3d; Timaru, s. 19s Id; Wellington, b. £7 7s 6d; do. (pref.), b. £7 12s 6d. Coal.—Grey Valley, b. 6s; Kaitangata. b. £1 12s 9d; We'stport-Stockton, b. 2s 3d; do. (pref.), b. 8s Bd, s. 8s lid. Gas.—Christchurch, b. £1 2s lid; do. (10s paid), b. 10s lid, s. 12s. Breweries.—Ballins (15s paid), b. 12s; Dominion, s. £1 9s 6d; Dunedin, b. 19s; New Zealand, b. £1 14s Id; Swan, b. 19s 6d. Miscellaneous.—Alloy Steel (N.Z.), b. £1 15s; Andersons (Ist pref.), b. 18s 9d, s. 19s 9d: Australian Alloy Steel, s. 8s; Australian Consolidated Industries, s. £2 8s 3d; Beath and Co., b. £1 2s; do. (Is paid), b. Is; do. (pref.), b, £1 3s; Booth, Macdonald (pref.), s. 6s 10d; Broken Hill Pty. (ex div.), b. £1 18s, s. £1 18s 9d; Canterbury Roller Flour, b. 11s; Colonial Sugar, s. £52; Dominion Fertiliser, b. £1 Os 6d; Donaghy Rope, b. £2 10s 3d; D.I.C. (10s paid), b. 15s; do. (pref.), b. £1 ss; Evans Atlas Flour, b. £1 4s. s. £1 , 6s; Hay's, Ltd., b. £1 10s, s. £1 13s; do. (con.), b. £1 ss; Mason, Strothers (£1 paid), b. 12s; do. (14s paid), s. 8s; Milburn Lime, b. £1 12s 7d; Macduffs (pref.), b. 17s 6d: N.Z. Drug Co., b. £4; do. (£1 paid), b. £2 ss; N.Z. Farmers’ Co-op. (£2 10s paid), s. 12s 6d; do. (“A" pref.), s, £1 17s; do. ("B” pref.), b. £1 7s 9d; s. £1 11s; do. (Ist pref.), b. £3 5s 3d; do. (4J per cent. Stock, 1950), b. £93 10s, s. £95; N.Z. Farmers’ Fertiliser, b. 16s 9d, s, 18s; N.Z. Forest Products, s. ss; N.Z. Newspapers, b. £1 14s; N.Z. Paper Mills (cum div.), s. £1 15s 6d; North Roller Milling, b. £1 2s; Otago Dally Times b. £2 Is 3d, s. £2 4s; Urlwins (pref.). b. £1 2s; Whitcombe and Tombs, b. £4 2s 6d; Woolworths, Ltd., b, 15s 3d, s. 15s 9d; do. (New Zealand), s. 14s 10d; do. (New Zealand) (preference), b. £1 17s; do. (Properties), b. £1 4s 6d; W. R. Carpenter, b. £1 4s. Overseas Listing.—Woolworths (S.A.), b. IBs 6d. Australian Mining.—Mount Lyell, b. £1 Bs, s. £1 9s. New Zealand Mining.—Arahura, b. £1 4s, s. £1 7s: Blackwater, b. 15s; Consolidated, b. 7s 3d; Grey River, b. 13s, s. 14s; Kanlerl, b. 19s; Ngahere, b. 6s: Slab Hut (5s paid), b. 5s 3d, s. 5s 7d; Snowy River (5s paid), b. 6s sd, s. 6s 9d. Unofficial List.—Aust. Invest. Trust, s. 11s; Ass. Mot. Pet. (pref.), b. £1 3s 6d; Aust. Mot. Petrol, b. 11s, s. £1; Christchurch Press, b. £8 10s, s. £9 10s; Mikonul (3s 6d paid), s. 9d; N.Z. Oil Concessions, s. £1 18s; Urlwin’s, b. £2 3s.

AUCKLAND Sales.—Govt. Stock, 31/5/S4-58, 4 p.C., £IOB 5s (2); Bank of N.Z., 40s 3d; Stand* aid Insurance, 69s 6d; Auckland Gas, 7s; Devonpbrt Steam (odd lot), 23s 6d; Peters Ice, 11s 2d; Wilson’s Cement, 18s; Wool*

worths (Syd.). 15s 8d; Woolworths Holdings. 19s Id. WELLINGTON Sales.—Govt. Stock, 31 p.c., 10s; Govt. Stock, 4 p.c.. 1954-58. £IOB ss, £IOB 15s; Natl. Bank of N.Z., 45s 6d; Bank of N.Z.. 40s 6d; A.C.1.. 47s 9d; Australian Paper Manufacturers (pref.), 27s 6d; Colonial Sugar, £sl 10s; Woolworths, Ltd., 15s 9d. DUNEDIN Sale.—Unlisted Stock: Mackintosh. Caley. Phoenix. 19s. , , „ „ Sales Reported.—New Zealand Drug Co. (late Thursday), 80s; Govt. Stock. 3 p.c., 1953-55. £99 7s 6d (3). SYDNEY Trading in most shares was immobilised on the Sydney Stock Exchange yesterday. with buyers jammed at ceiling levels. Sales.—Bank of New South Wales, £27 10s; Burns, Philp. 52s 6d; Fairymead Sugar, 295; Australian Consolidated Industries. 48s 6d; W. R. Carpenter. N.Z. delivery. 25s 6d: Standard Cement, 19s 3d; Woolworths. 14s; Mount Lyell, 28s 6d; Tongkah Harbour, 2s.

GRAIN AND PRODUCE

CANTERBURY MARKETS There is practically no life in the grain and produce trade, and most of the quotations below are nominal. The attractive price shown for potatoes counts for little, as there are very few about, and from merchants’ point of view the season Is over. The season so far has been favourable for early potatoes, and for the planting of the main crop. There has been a heavy ‘ planting of suburban allotments this season, and the country should not be faced with a repetition next season of this year’s shortage, as reports are to the effect that farm plantings are heavy. Another crop of which there has been an increased planting are peas. There is an active export market for- these in the season, contingent on shipping faclilltles, which were available when wanted. The following quotations are for produce on trucks unless otherwise stated, and approved by the president of the Gram and Produce Merchants’ Association, although with the lack of produce offering the quotations are largely nominal; — Wheat (final payment).—Tuscan, 6s 2d: Hunters. 6s 4d; Pearl, 6s 6d; Marquis. 6s 8d (all f.0.b.). Oats. —A Cartons. 3s 6d; B’s 3s 3d: Algerians, 2s 6d to 2s 9d; Dun’s, 3s to 3s 6d a bushel.

Italian Ryegrass.—4s to 4s Ed a bushel; perennial, 4s to 4s 6d. White Clover.—To 2s 6d per lb for farmers' dressed. Cocksfoot.—lOd to Is Id per lb for good lines.

, Cowgrass.—Up to Is. Chaff.—£4 to £4 ss, according to station, a ton. Peas.—6s 3d to 6s 6d a bushel. Potatoes.—Sutton’s and King Edwards, £l2 10s a ton; whites and Dakotas, £l2 f.0.b., sacks in. The position in respect of the execution of orders for fertiliser supplies has improved this week, and orders now placed can be filled within 10 days.

COMPANY NEWS

Mosgiel Woollen Company.—The sixtyninth annual report of hie Mosgiel Woollen Factory Company states that sales showed Improvement, but due to the necessity for increased provision for taxation, there was a reduction in the net profit. After the payment of an interim dividend of 4 per cent, on April 6 last (absorbing £3815 4s), providing £60,000 for Government taxation, and £lO,llß 8s lOd for depreciation, transferring £2OOO to reserve and £SOOO to the dividend equalisation fund, there remained a balance to the credit of the profit and loss account of £23,438 14s sd, which the directors recommend be dealt with as follows: —Payment of a final dividend of 3 per cent, from trading (£2861 8s) and 3 per cent, from revenue from investments, making a total distribution of 10 per cent, for the year. The amount to be carried forward will then be £17,715 18s sd.

BULL SALE

H. Matson and Company conducted their annual bull sale In Tattersall’s Horse Bazaar yesterday, and there was a total entry of 65 bulls, including Milking Shorthorns, Jerseys, beef Shorthorns. and Friesians. Particular interest was taken in the Milking Shorthorns and beef Shorthorns, and there was also a good demand for Friesians, but Jerseys were not in demand. The prices for Milking Shorthorns ranged from 10 to 40 guineas, with many serviceable bulls in the vicinity of 15gns. Beef Shorthorn bulls made 12 to 30gns. and there were six sales from 20 to 30gns. Friesians made from 11 to 20gns. Jerseys made up to 14gns. Buyers were present in numbers from the West Coast, Banks Peninsula, and all parts of Canterbury. Wherever good bulls in good condition were submitted competition was animated. —6

HORSE FAIR AT RANGIORA

The price of £24 for a five-year-old mare was top price at the Rangiora horse fair yesterday. Seventy horses were yarded and met with a slow demand. Good four-year weight-carrying hacks brought £2l; four to seven-year draughts £lO to £ls; eight to 10-year, £5 to £8; hacks. £2 to £l2; unbroken four to fiveyear draughts, £8 to £lO 10s; and a draught mare, foal at foot. £9.