COMMERCIAL

Press, Volume LXXXII, Issue 24868, 7 May 1946, Page 6

COMMERCIAL

STOCK EXCHANGES

FIRM OPENING CALLS The markets were firm on the opening calls for the week, and there was a moderate turnover. Business was well spread with the bulk of the dealings in Government loans, bank shares and industrials. Sales on ’Change.—Listed stocks: £l2OO N.Z. Govt. 21 p.c. Stock, 1947-49. £99 15s; £2OO N.Z Govt. 3 p.c. Stock. Dec., 195356. £lOO 15s; 20 Commercial Bank of Australia (pref.), £ll 10s; 200 Bruce Woollens (ord.), 40s; 200 Christchurch Gas (fuHy paid). 275; 100 Christchurch Gas (fully paid), 275. Sales Reported.—Listed stocks: £4OO 2J p.c. War Loan. 1953. £96 17s 6d; 100 Liberty Bonds, £1 Is 7d; 165 Wool Bonds. 1/2/48. 21s sd; 160 Wool Bonds, 1/2/48, 21s Id; 80 E.. S.. and A. Bank (ex div.), £5 Ils 6d; 100 E.. S., and A. Bank (ex div.), £5 12s; 30 Union Bank of Australia, £9 10s; 350 Union Steamship (pref.) (late sale Friday), 33s lOjd; 300 N.Z. Refrig. (£1 paid). 345; 300 Bruce Woollens (ord.), 40s; 100 Christchurch Gas (fully paid), 275; 100 Christchurch Gas (fully paid), 275; 100 Loloma, 295; 200 Arahura, 325; 200 Ngahere, 10s 7d. 200 Ngahere. 10s 7d; 100 British Tobacco, 56s 9d; 100 Reid (N.Z.) Rubber. 365; 100 N.Z. Refrig. (£1 paid). 345; 200 Kanieri Gold. 235.

LATEST QUOTATIONS N.Z. Govt. Debentures: 21 p.c. Inscr., 1947-49, b. £99 15s; 2j p.c. War Loan. 1953, b. £96 15s; 3 p.c. Inscr., 1955-58. b. £lOO 2s 6d, s. £lOO ss; 4 p.c. Inscr., 1952-55, b. £lO6 10s. Banks: National of N.Z.. b. £2 19s; New South Wales (cum div.), b. £37. Loan and Agency: Goldsbrough, Mort, b. £1 13s 9d: Mutual Benefit (ex div.), b. £l9 12s 6d; N.Z. and River Plate (ord. stock), b. £1; N>Z. Guarantee Corpn.. s. 4s 8d; N.Z. Loan and Merc. (ord. stock), s. £7B. Shipping: Union (pref.), b. £1 14s Frozen Meat: Canterbury, b. £l5 ss; N.Z. Refrig. (£1 paid), s. £1 14s 6d. Woollens: Bonds Hosiery, b. £2 15s: Bruce, b. £1 19s 9d, s. £2 0s 3d; Kaiapoi (pref.), b. £1 6s 9d; Timaru. b. £1 3s 6d. Coal: Westport. b. £1 5s 6d, s. £1 6s 3d. Gas: Christchurch, b. £1 7s. s. £1 7s 3d. Breweries: Dunedin, b. £1 Ils; New Zealand, b. £2 10s; Swan. b. £1 10s. Miscellaneous: Aust. Found. Invest., b. 6s. s. 6s Id; Colonial Sugar (cum div.), s. £6l; Dental and Medical, s. £1 12s 6d; Dominion Fertiliser, b. £1 6s 6d; Fletcher Holdings, b. £1 15s 9d; G. J. Coles, b. £4 0s 3d; Hay’s, Ltd., b. £3 Is; Hay’s, Ltd. (cont.), b. £2 Ils 6d’, Henry Jones (cum div), b. £2 19s; Macduffs, b. 19s, s. £1; N.Z. Paper Mills (cum div.), b. £2 Is, s. £2 3s; Silknit. b. £1 11s, s. £1 12s; Union Theatre (pref.), b. £1 5s 9d, s. £1 12s 6d; United Provisions, b. £1 Is; Weeks,, Ltd., b. £l2 15s, s. £l3 15s; Wool worths (N.Z.) (cum bonus), b. £1 6s 3d, s. £1 6s sa; W. R. Carpenter, b. £2 7s. Aust. Minins: Broken Hill South (cum div.), b. £1 14s gd;' Emperor -Fiji, b, 18s'6d, s. 19s 3d; North Broken HUI. b. £3 4s; Rawang Tin b. Bs, s. 9s. N.Z. Mining: Arahura, b. £1 Ils 9d. s. £1 13s 3d; Kanieri, b. £1 2s 9d, s. £1 4s; Martha, s. 9s 6d; Snowy River, s. 7s. AUCKLAND Safes.-i-Liberty Loan, 15/9/47, 2J per cent. (£1500), £99 10s; Liberty Loan, 15/5/48, 2J per cent. (£700), £lOO ss; Bank of New Zealand Stock. 15/11/57-60. 3 per cent. (£5565), £101; Ins. Stock, 31/5/54-58, 4 per cent. (£200), £lO7 12s 6d; Auckland Harbour Board, 10/6/59, 4< per cent. (£200), £ll2 ss; E., S., and A. Bank (80), £5 10s 6d; E., S., and A. Bank (100). £5 11s 6d; E., S., and A. Bank (100). £5 12s; E., S., and A. Bank (100). £5 12s 6d; National Bank of N.Z. (300). 595; N.Z. Insurance (100), £5 3s; South British (86), 90s; Northern Steam '400). 12s 6d; Roto-iti (100), 10s 3d; Bruce Wool (300). 40s; Dominion Breweries (200). 65s 3d; Tooths (100), 675; Colonial Sugar (10), £6O ss; Fletcher Holdings (500), 365; Forests Products (100), 6s; Northern Roller (pref ), (75), 275; Peter’s Ice (Victoria). 10s paid (200), 20s; Silknit. N.Z. (360), 31s; William Cable, pref. (180. 365; Woolworths, N.Z. (100), 26s 3d; Woolworths, Sydney (200), 26s 6d; Komata Reefs (77), 6s; Loloma (100). 28s 9d; Todd Motors, pref. (100). 20s (unlisted). WELLINGTON Sales.—Late Friday: N.Z. and River Plate (100), 21s; Union Steam (pref.) (300), 345, Rotoiti Timber (100), 10s 4d; Booth, Macdonald (ord.) (1000), Is 9d. Yesterday: Ins. Stock, 15/9/52-55, 3 per cent. (£700), £100; Ins. Stock, 15/4/60-63, 3 per cent. (£305), £99 ss; N.Z. Refrigerating (con.) (300), 16s 6d; Dominion Breweries (100), 65s 3d; Cash Orders Amalgamated (100), 22s 6d; Woolworths, Ltd. (200), 26s 6d; Fletcher Holdings (100), 365; Mount Morgan (120), 8s 9d.

DUNEDIN Sales Reported.—Moturoa Oil (ord.) (500), 2s; Mackintosh, Caley, Phoenix (rights) (100), 13s; Inscr. Stock, 1952-55, 3 p.c. (£250), £100; Inscr. Stock, Dec., 195356, 3 p.c. (£250), £IOO 12s 6d; Inscr. Stock, 1955-58, 3 p.c. (£2500), £100; Inscr. Stock. 1957-60, 3 p.c. (£630), £101; Mt. Morgan (50), 8s 9d.

STOCK SALES

'* The Press ” Special Service PLEASANT POINT

TIMARU, May 6. Three races of fat sheep were forward at the Pleasant Point sale. The bulk of the entry comprised ewes suitable for export. Butchers’ sheep were firm at late rates, with export sheep showing a slight easing on late rates The yarding of 3000 head of fat lambs was of good quality, and there were some lines of well-finished sorts. The sale was a brisk one, with values at a high level. Extra prime lambs made 34s to 36s 7d, medium to prime 27s to 32s 4d; prime • wethers 39s to 425.10 d, light to medium 31s to 37s lOd; extra prime ewes 24s to 26s 4d, medium to prime 17s to 22s Id, others 14s to 16s 7d. The yarding of store sheep was particularly attractive, several lines of Romney wethers being forward, which created considerable interest With the winter feed position assured, farmers operated freely, and values were the highest for some years. Both ewe and wether lambs met with an improved sale, and all other classes showed a firming tendency. Extra good fat and forward two-tooth Romney wethers made 39s to 40s 6d, good 34s to 37s 6d, medium 29s 3d to 31s; good Romney ewe lambs 30s to 32s 3d, medium and others 20s to 265; forward conditioned wether lambs 24s to 265. niedium lambs 19s to 22s 6d; medium two-tooth Romney ewes 29s 9d; s.m. Romney ewes 255; f.m. Romney ewes 16s to 19s 6d.

DUVAUCHELLE There was a small entry of fat cattle at the Duvauchelle monthly cattle sale and stores penned were below average consignments The sale was a dull one, and although there were no heavy-weight steers entered, prime cows realised up to £lB a head. Generally, the market for beef was below Addington Market rates of last week. Store prices were maintained and at recent market rates, and some good straight colour lines of calves and 18 months cattle met with good com-

petition. Forward springers also sold well. The total entry was 250 head. The range of prices was as foUows; Fat steers, £lO 15s to £ls; fat heifers, £ll 15s to £ls; prime fat cows. £6 15s to £ll 10s: extra prime cows, £l4 15s to £18; springers. £l2 to £l4 10s; calves, £5 2s to £6; 18-months cattle. £7 7s6d; two and a half-year-old steers, £8 10s to £lO 10s; two and a half-year-old heifers, £6 15s to £lO ss; three-year-old steers, £ll 12s 6d; bulls, £4 10s to £lO ss.

COMPANY NEWS

Union Oil.—The Union Oil, Soap, and Candle Company. Ltd., has declared an interim dividend of 6d a share.—(P.A.) Martha Gold. —The accounts of the Martha Gold Mining Company (Waihi). Ltd., issued after the announcement of the cut in the dividend to 2d sterling a share, disclose a heavy fall in earnings, according to cabled advice received by

the New Zealand director and attprney. Mr J. H. G. Banks. Gross profit for 1945 was £19.854, a reduction of £39,430 on the 1944 figure. United Kingdom and New Zealand income taxes required £9364 (against £31,749) and the depreciation allowance was £2BlO (against £3038). leaving a net profit of £7680 (against £24,497). The reduced dividend of 2d a share* (against 6d in 1944) absorbed £8265, reducing the carry forward by £585 to £10,816.—(P.5.5.)

MINING

Associated Gold Dredges (N.Z.), Ltd.— For the period ended May 4, the com pany’s dredges recovered ISOJoz from 144,602 yards in 5592 dredging hours. Clutha.—For the period ended Friday. Clutha River dredge worked 170 hours and recovered 197 -ounces of gold.—(P.A.)