COMMERCIAL

Press, Volume LXXXII, Issue 24814, 2 March 1946, Page 8

COMMERCIAL

STOCK EXCHANGES TRADING IN GOVERNMENT LOANS Markets generally continued firm onthe Stock Exchange yesterday, and heavier trading in Government loans was re sponsible for an increased turnover, although the recorded business m other sec tions of the market, showed a falling off. Transactions were as Allows:— .. .. Sales on ’Change.—Listed stocks. 100 Kaiapoi Woollens (con.) (iully paid), 255; 100 Mount Lyell, 25s 3d; 100 Mount Lyell. 25s 3d. Sales Reported.—Listed stocks. £865 3 pe.r cent. Stock. 15/11/57-60 _, £lOO 10s. £530 3 per cent. Stock, 15/11/ j 7-60, £lOO 7s 6d; £2OO New Zealand Government 3 p.c. Stock. 1951-54, £99 15s; £lOOO New Zealand Government 3 per cent. Stock, 1952-55. £lOO 17s 6d; £3440 New Zeaiana Government 34 per cent. Stock, 1957-60, £lO3 2s 6d; 100 Ballins Breweries (late sale Thursday), 22s 9d; 100 United Provisions, 21s; 500 Grey River, Ils 6d; 200 Kanieri, 245; 19 Wellington Woollens (ord.), £9 17s 6d. LATEST QUOTATIONS

N.Z. Govt. Debentures.—3 per cent. Stock, 1957-60, b. £lOO 7s 6d, s. £lOO 10s; 2 J per cent. Ins., 1946, b. £lOO ss; 2 J per cent. Ins., 1947, b. £lOO ss, s. £lOO 10s; 2J per cent. Ins., 1948, b. £99 15s; 2J per cent. Ins., 1947-49, b. £99 12s 6d; 2J per cent. Ins., 1949-51, b. £99; 2| per cent. War Loan, 1953, b. £9B 7s 6d, s. £9B 10s; 2J per cent. Victory Loan, 195051, b. £99 7s 6d, s. £100; 3 per cent. Ins., 1946-48, b. £lOO, s. £101; 3 per cent. Ins., 1951- b. £99 12s 6d; 3 per cent. Ins., 1952- b. £lOO 12s 6d; 3 per cent. Ins., Mav, 1953-56, b. £lOO 2s 6d; 3 per cent. Ins., Dec., 1953-56, b. £lOO 2s 6d; 3 p.c. Victory Loan, 1955-58, b. £99 7s 6d. s. £99 17s 6d; 3 per cent. Victory Loan. 1956-59. b. £lOO 10s; per cent. Ins., 1956-59, b. £lOO 7s 6d; 3$ per cent. Ins., 1957-60, b. £lO2 17s 6d; 4 per cent. Ins., 1949-52, b. £lO3 12s 6d; 4 per cent. Ins., 1952-55, b. £lO5 17s 6d; 4 per cent. Ins., 1954-58, b. £lO7 2s 6d; Liberty Bonds, b. £1 Is 4d, s. £1 Is 7d; Wool Bonds, 1/2/48, b. £1 Is 3d; Wool Bonds, 1/2/49, b. £1 Is. Banks.—Adelaide, b. £6 10s; Australasia (cum div.), b. £9 10s; Comm, of Aust., b. £1; Comm, of Aust (pref.), b. £ll, s. £ll 10s; Comm, of Sydney, b. £22; E., S„ and A., s. £5; Natl, of N.Z., b. £2 17s 3d. s. £2 17s 9d; New South Wales, b. £35 15s; JJnion of Aust., b. £9 2s 6d. Insurance.—National, b. £1 7s lOd, s. £1 8s 3d; New Zealand, s. £5 6s; South British, s. £4 13s; Standard, s. £4 10s. Loan and Agency.—Chch. Bldg., b. £2l 12s 6d; Dalgety and Co., b. £9 7s 6d; Goldsbrough, Mort, s. £1 Ils 6d; Invincible Bldg., b. £5; Mutual Benefit, b. £l9 10s; Natl. Mort. “A,” b. £3 15s; Natl. Mort. “B,” b. £2 Is: N.Z. Guarantee Corpn., b. 4s 6d; N.Z. Loan and Merc, (ord. stock), b. £79; Perm. Investment, b. £ll 15s. s. Xl2; United Bldg., b. £1 ss. , Shipping.—Huddart Parker (pref.) (cum div.), b. £j 12s 9d; Union (pref.), b. £ 1 13s. . Frozen Meat.—Canterbury, b. £l5 10s; Canterbury (pref.), b. £8 10s; Gear, b. £1 8s; N.Z. Refrig. (£1 paid), b. £1 12s; N.Z. Refrig. (10s paid), b. 15s 7d; Nth. Cant. Freezing (pref.), b. £1 3s 6d; Southland. b. £2 19s 6d; Southland (pref.), b. £2 19s 9d. Woollens.—Tattersfield, b. £2 3s; Felt and Textiles, s. £3; Kaiapoi (17s paid), b. £1 ss; Kaiapoi (con.) (fully paid), b. £1 4s 9d; Kaiapoi (pref.), b. £1 6s 6d; Manawatu, b. £2 Ils; Mosgiel, b. £l5: Oamhru, s. £1 14s 6d; Timaru, b. £1 2s; Wellington, b. £9 16s; Wellington (pf.). b. £9 17s 6d. Coal.—Westport, s. £1 7s. Gas.—Christchurch, b. £1 5s 9s, s. £1 6s 6d; Christchurch (10s paid), b. 12s 6d; Timaru, s. 18s.

Breweries.—Ballins,, b. £1 3s; New Zealand, s. £2 10s; Swan, s. £1 15s: Tooheys, b. £1 15s. s. £2; Westland, b. £1 15s Miscellaneous.—Alloy Steel, b. £2 Us; Aust. Found. Invest., b. 5s 6d, s. 5s 9d: Beath and Co., b. £1 19s, s. £2 Is; Beath and Co. (Is paid), b. 8s lOd; Booth. Macdonald, b. Is lid, s. 2s sd; Booth, Macdonald (pref.), b. Ils, s. 11s 3d; British Tobacco (cum div.), s. £2 15s; Broken Hill - s £2 7s 6d; C.F.C.A.. b. £1 4s; C.F.C.A. (pref.), b. £2 9s; Cant. Roller Flour, s. 16s; Colonial Sugar, b. £6O- - Brick, s. 10s 9d; Dental and Medical, b. £1 8s; Donaghy Rope, b. £3 Ils 6d; D.1.C., b. £1 4s. s. £1 6s; D.I.C. (pref.), b. £1 8s 6d; Electro. Zinc, b. £3 2s, s. £3 3s 3d; Electro. Zinc (pref.), s. £3 4s 3d; Fletcher Holdings, s. £1 15s 9dFrozen Products, b. £1 0s 9d;' G. J. Coles, s. £4; Gordon and Gotch, b. £4 5s 6d; Greater Crystal, b. £1 4s 9d; Hadfields, b. 10s, s. 14s; Hay’s, Ltd., b. £2 19s 3d; Hay’s, Ltd. (con.), b. £2 10s; Henry Jones, s. £3; Howard Smith, b. £1 6s 6d; Hume Pipe, b. £1 2s 6d, s. £1 4s; 1.C.1. Aust and N.Z. (pf.).,b. £1 7s; Kauri Timber. b. £1 10s 9d, s. £1 12s; Metiers, N.Z. b. £1 3s; Milburn Lime, s. £1 17s; Morris Hedstrom, s. £2 17s; Morts Dock, b. £1 10s; Macduffs, b. 17s sd; Macduffs (pref.) (cum div.), s. £1 9s; McKenzies, Ltd., s. £3 6s; N.Z. Drug Co. (new) (fully paid), b. £5 Bs, s. £5 Us; N.Z. Farm. Co-op. (Ist pref.), b. £5 12s 6d; N.Z. Farm. Co-op. (“A” pref.), b. £3 19s 6d; N.Z. Farm. Co-op. (“B” pref.), b. £3 15s; N.Z. Farm. Co-op. (4J per cent. Stock, 1950), b. £lOO 10s; N.Z. Farm. Co-op. (4J per cent. Stock, 1955), b. £lOO 10s, b. £lOl 15s; N.Z. Farm. Fertiliser, b. £1 7s 6d; N.Z. Farm. Fertiliser (pref.), b. £1 8s; N.Z. Newspapers, b. £2 7s; N.Z. Paper Mills, b. £2 Is, s. £2 2s; Niven 69 6d; 'Northern Roller Milling, b. £1 6s; Otago Daily Times, b £2 13s; Quill. Morris, b. £1 10s 6d; Reid Rubber, s. £1 12s 9d; Reid Rubber (con.), b. 15s 6d; Robinson Ice Cream, b £1 18s; Seffridges, b. £1 Ils; Taringamutu Totara Timber, s. £1 Is; United ProvisOs 4d: Whitcombe and Tombs, s. £8 2s 6d; Wilson’s Cement, b. 10s, s. £1; Woolworths (Sydney) (ord.), b. £1 6s 3d, s. £1 6s 7d; Woolworths (N.Z.), s - 5s 9d; Wool worths Properties, b. £1 10s 9d; W. R. Cooke and Son, b. 4s 7d, s. 6s 6d.

Aust. Mining.—Broken Hill South, b. £1 Ils 9d, s. £1 13s; Emperor, Fiji, s. 19s; Mount Lyell, b. £1 ss, s. £1 5s sd: Mounl Morgan, b. Bs, s. 8s 9d.

N.Z. Mining.—Assoc. Gold Dredges, b. 2s 6d, s. ss; Austral N.Z., b. 9s, s. 15s; Grey River, b. Ils 3d, s. 12s; Kanieri, b. £1 3s 3d; Ngahere, b. 9s; Ngahere (deferred). b 2s 9d: Snowy River, b. 6s. s. 7s. Unofficial List.—Avon Metal, b. 10s, s. 17s 6d; Amalgamated Batteries, b. 20s; Amalgamated Batteries (pref.), b. 21s 3d; Belvedere Maisonette (pref.), b. 20s; Harley Chambers, b. 20s Harley Chambers (pf.) b. 235; Christchurch Press, b. £l3 ss--a.nd Textiles of N.Z., b. 45s 3d, s’. A d; Mackintosh, Caley, Phoenix, b. 36s 9d; Mount Cook Tours, b. 10s 6d 3. 13s 6d; Modern Plastics, b. 30s 9d; Ro’vds Bros, tfnd Kirk, s. 255; Scales “C” (pref.), on 3 o^ s ’ 55 , 3 d; Victoria Mansions, b. 20s 3d; Taramakau (5s paid), b 5s 6d s wLY a ! kari o Lime (17s 6d Pa%) s 22s;’ Whakatane Paper, b. 4s 9d, s. 6s 6d; Whakatane Paper (pref.), b. 20s. s. 26s

c , AUCKLAND , o^ e x S ~y ictory 15/2/49-50, 24 n.c (£900), £99; N.Z. Govt. Stock 15/9/46-48 ÜB/51-54 (£200). £99 1/s 6d, Stock (8.N.Z.), 15/11/57-60 3 £lo ° 7s 6d >' 15/5/49-52 4 P.O (£560), £lO3 15s; Comm. Bank of Australia (500), 20s 3d; (200), 20s 2d; E. S £5 « Bank of N\S W* y°)- £36; O Wilcox, Mofflin (100). 16s 6d ; hern steam (600), 12s; N.Z. Breweries (100), 49s 6d; Farmers’ Trading (500)., 31s- 1 (100) ’ 27s - Unlisted stock. Auckland Farmers Freezing (1000) 25s 3d; Hellabys (ord.) (100). 51s. WELLINGTON c / a ! es ;7^?^ : £ hl,rsc,i ‘ y: NZ - Govt - 3-p.c. Stock, 15/11/57-60 (£2685), £lOO 7s 6d (two sales); Macduffs. Ltd. (pref., cum div.) (300), £1 8s 6d. Yesterday: N.Z. Govt 2J p.c. Stock. 15/4/50-51 (£500), £99 10s; L p f « Stock ’ 15/11/57-60 (£1970), £lOO 7s 6d; (£1600), £lOO 7s6d (three sales); Union £9; Farmers’ Auctioneering (50), £5 6s; Colonial Sugar (30), £6O 5s (two sales); General Industries (100) £1 7sr Macduffs, Ltd. (pref., cum div.) (350), £1 8s 6d. DUNEDIN Sales.—Woolworths. Ltd. (100), 20s sd; (100), 20s 4d; (100), 20s 3d; N.Z. Refrigerating (cont.) (200), 15s 9d. Sales Reported.—N.Z. Govt. 3 p.c. Stock, Dec., 1953-56 (£1000), £lOO ss; Turnbull and Jones, Ltd. (pref.) (unlisted) (500), 25s 3d; Commercial Bank (ord.) (200), 20s 3d.

RESERVE BANK RETURN

(P.A.) WELLINGTON, March 1. The statement of the assets and liabilities of the Reserve Bank for the week ended .February 25. with the previous week’s comparison, is: Liabilities.—General Reserve Fund, £1,500,000 (same); bank notes, *£43.516,364 (£43,758,518); demand liabilities: State, £18,584,857 (£18,417,514); banks, £64,988.442 (£64,159,057); other. £580.554 (£492,412); liabilities in currencies other than New Zealand, £120,588 (£70,002); other liabilities, £3,330,977 (£3,304,839. Total, £ (N.Z.) 132,621,782 (£131,702,342). Asset#.—Gold, £2,801,878 (fame); sterling exchange (New Zealand currency), | £73,703,144 (£68,564.510); subsidiary coin. '£17.197 (£17.098); advances: to the State Marketing organisations. £1,631.823 I £2.193.346'; for other purposes. £40.000.000 ■ same); investments, £12.860,968 (£l6.B6l.ooBother assets. £1,606,772 (£1.264.503). Total £ (N.Z.) 132.621,782 (£131,702,342). Proportion of reserve to notes and other demand liabilities. 59.829 (56.215) per cent.

KAIKOURA EWE FAIR

After one of the longest and most severe dry spells on record, the weather broke with south-westerly rain at the opening of the first ewe fair of the 1946 season, at Kaikoura, when close on 7000 sheep were yarded, compared with 4000 at the first sale last year. Had rain come a week earlier, more confident bidding would have resulted. The sheep were in quite good condition and good prices were realised for quality lines. Generally speaking, average quality or slightly backward lines, particularly of halfbred ewes, sold slow.ly owing to the lack of confidence in the feed position. The fop price was obtained bv A. Howard Hapuku) for a line of 105 two-tooth -ewes, which sold at 40s 6d.

Principal sales were:— Ewes—A. Howard (Hapuku), 105 at 40s 6d; G. Hamilton (Puhi Puhi), 96 at 38s; F. W. Parker (Clarence Bridge), 36 at 33s 6d; P. Hall (Seddon), 7 at 335; I. McGregor (Puhi Puhi), 58 at 30s; Lands and Survey Department. 123 four. six. and eight-tooth at 28s. Wethers.—l. McGregor, 26 two-tooths at 29s 6d; E. L. Peter, 27 at 28s 6d and 46 at 275; Lands and Survey Department, 45 at 275; M. Smith, 18 two and four-tooths at 27s and 142 at 18s; Hemingway Bros., 20 at 18s. Lambs.—E. ’W. Harris; 164 ewe lambs at 275; O. Gibson, 50 at 26s and 68 at 25s 9d; A. Adair (Hapuku), 60 ewe lambs at 23s 9d and 82 wether at 20s. GRAIN AND PRODUCE Deliveries of wheat have been coming forward steadily, and good quality is being maintained. Very small quantities of oats are being offered. Barley has been coming forward freely. Some trouble has been experienced over the condition of some lines which have been sweating badly. Good supplies of peas, of very satisfactory quality, are arriving. The bulk of grass seed has been delivered into stores for dressing. Clover is at present being delivered. Following are prices to growers:— White clover: 2s lOd to 3s 6d. according to whether certified, or uncertified. Oats: A Gartons, Government maximum price, 4s a bushel, 0.t.5.i.; Algerians, 3s 6Jd new, 3s 9d old; Duns, 4s 9d to 5s 3d; black (nominal), 4s. Wheat: Tuscan, 7s Id; Hunters,’ 7s 3Jd; Pearl, 7s 5Jd; Marquis, 7s 7d f.o.b. Lupins: 5s to 5s 3d a bushel. Cape and malting barley: maximum price, 5s 6d a bushel on trucks, sacks extra for No. 1 quality. Chaff: G. 8.0.5., '£6 10s to £6 15s a Potatoes: maximum price. £7 15s a ton, f.0.b., s.i., for whites; £8 5s Suttons. Onions: £l2 a ton, o.t.s.i.

MINING Ngahere.—The Ngahere return for the two weeks ended March 1 was 410 ounces from 105,882 yards, worked in 238 hours.