FINANCE AND COMMERCE

Dominion, Volume 25, Issue 278, 19 August 1932, Page 14

FINANCE AND COMMERCE

STOCKS AND SHARES Wellington Market Brisk TURNOVER MAINTAINED There was again a fair volume of business on the Wellington Stock Exchange yesterday, 11 sales being recorded at full market prices.- The length of the quotations list was evidence of the strong buy- - ing movement in the market, which was very firm. Very few sellers were quoting at the close yesterday. . Government securities were fairly active .buyers’ bids being concerned only with the and 5J per cents. A sale took place of the oi per cents., 1933, at £9B/3/-, and more were on oner at a/higher. The 5} per cents, stock September. 1937, had a sale at £lOl/7/6. Wellington Gas debentures were very firm at £99/5/-, and Wellington Harbour Board, 5} per cents., 1940, at par, but there were no sellers. Banks were in strong demand, with but few sellers quoting. Commercial of Australia sold at 13/10 and there were other buyers at 13/9, sellers 14/1. The pie ference shares were wanted at tb/10/o, with no response Rational Bank of N.Z. were bid for at 69/3, but sellers kept. out. New Zealands firmed 5d to 46/9, and the long term mortgage shares were steady at 27/-, but sellers were not quoting. Union of Australia firmed 1/to £7/1/-, but sellers asked 6d better. New South Wales were wanted at £26 12/6, sellers holding for £27/o/-.. Buyers continued to show keen interes in the financial, gas, insurance, meat and shipping sections, the bidding being very firm. Wellington Gas hardened up to a sale at 30/6, the demand being unsatisfied at 30/-. Gear Meats were also firmer, a sale being reported at 3-/9. and more wanted at 32/3. . . . Carlton Brewery, which has maintained its interim dividend at the rate of 8 per cent, per annum, advanced another 7 1 to 32/7, without drawing sellers. At the beginning of the month they were quoted at 29/6. There were three sales' (two on ’change) of N.Z. Breweries a 26/6. vid more were wanted at .tnat Pr ßritish Tobaccos sold late on Wednesday at 29/-. were wanted yesterday at 28/10, but sellers held for 29/5. Colonial Sugars' were 5/- up at £44/10/-. Buyers of Electrolytic Zinc preference advanced their, bids. 6d to 22/9. Wilson’s Cement were; steady at 29/3. and Woolworths (N.Z.), preference, at 25/9. Mount Lvells firmed 2d to 20/-, but sellers asked 7d higher. Waihis were.firm at lb/-. , r Yesterday’s Quotations

DEALINGS ON 'CHANGE Sales in the Dominion The following sales wore recorded on the stock exchanges of the Dominion yes-

BUOYANT MARKET Sydney Stock Exchange VALUES MOVE UP (Rec. August 18. 9.5 p.m.) Sydney, August 18. Extremely buoyant conditions prevailed on the Stock Exchange to-day, the market being influenced by the success of the British conversion loan, the improvement in Wall Street, and in metal prices and other local factors. Colonial Sugars which eighteen months ago sold at about £3O, to-day touched £ °All industrials had inquiry. Pastorals and breweries moved up. but banks were qU Saiesßank of New South Wales, £29/17/6; Commercial Bank of Sydney. £l6/5?-; National Bank of Australasia, £5 paid, £5/17/6; Queensland National Bank, ex dividend, £5/2/-; Colonial Sugars, £5O/17/6; United Insurance, £8 15/-; Millaquin Sugar, 27/-; Fairymead Sugar, 22/9; Burns, Philp, 44/6; Australian Gas, A. £6/15/-; Goldsbrough, Morts, 27/14; Winchcombe, Carson, 24/-; Gordon and Goteh, 29/3: Berlei. 24/-; Dunlop-Perdriau. 14/8: Tooth’s, 31/-; Toohey’s, 19/9; British Tobacco, 32/9; Henry Jones, 34/6; Zinc Corporation, 30/-; Broken Hill Proprietary, 19/-; North Broken Hill, 69/-; South Broken Hill, 48/3,. Commonwealth bonds. 4 per cent., 1938, £99/7/6; 1941, £99/8/9; 1944. £99/7/6; 1947, £99/15/-; . 1950. £97/17/6; 1953, £9B; 1955, £9B; 1957. £97/7/6; 1959, £9B/15/-; 1961, £99/5/-. Morning sales: —Commonwealth bonds, 4 per cent.. 1938, £99/8/9 ; 1941; £99 10/-; 1947, £99/15/-; 1950, £97/17/6; 1955, £9B/1/3 ; 1959. £9B/15/-; Bank of New South Wales, £29/17/6; Colonial Sugar, £5O/17/6; Goldsbrough. Mott, 27/1}; Winchcombe, Carson, 23/4}; Australian Glass. 43/-; Tooth’s.'3l/-. Melbourne, August 18. > - Sales: —Goldsbrough, Mort. 27/3; Col'onial Sugar, £5l; Dunlop-Perdriau, 14/10; Electrolytic Zinc, 17/-: North Broken Hill. 69/-; Mount Lyell, 23/-. : BERLEI LIMITED - < Increased Dividend A net profit of £17,923 for the year ended June'3o is disclosed in the accounts of Berlei, . Limited, corset manufacturers, Sydney. The profit .compares with. £20,810 for the previous year. ll Staff profit--sharing dividends paid during the year required £1773; a sum of £5OOO was carried to general reserve, and £5OO to the reserve for bad debts. . The ordinary dividend is increased from 7} per cent, to 8 per cent, and,, with the preference dividend of 8 per cent., the distribution requires £13,985, leaving £2217 to be carried forward, against £5552 brought forward. . , The report states that an increase of nearly 60 per cent, in taxation was largely responsible for the reduced net result. The heavy burden of exchange absorbed all the savings effected by improved methods and lower production costs, thus preventing the reduction of selling prices, which would have followed under normal conditions. Berlei (N.Z), Limited, re-: ported a substantial increase in the volume of sales, and had declared the usual dividend. Other subsidiaries also reported increased' sales.

CARLTON BREWERY: Interim Dividend An interim dividend at. the rate of 8 per cent per annuin has been declared by the directors of Carlton Brewery, Limited, Melbourne, for the half-year ended June 30. Payment will be made on'September 3. The rate is unchanged. Carlton Brewery shares were quoted on The Wellington 'Stock Exchange yesterday at 32/7, as compared with 29/6 at the beginning of- the month. Adelaide Steamship Co. A dividend of 2} per cent; has been declared by the directors of the Adelaide Steamship Company, Limited, for the half-year ended June 30. It is. payable off. September J 3. With the interim dividend paid in February last;.the distribution is 4} per cent, for the.year, as 'against 4 per cent, in the previous year. P. & O. Deferred Shares •London. August 17. P. and O. deferred shares sold to-day at 19/10}. Mount Lyells sold at 17/2}. Price of Gold London, August 17. The price of gold to-day was quoted at £5/18/7 per fine ounce. LIVE STOCK MARKET Levin Horse Sale At their annual horse sale at Levin on Wednesday, Associated Live Stock Auctioneers, Ltd., offered 55 horses. Top price for the sale was £47 for a five-year-old full draught mare, broken to all work. Prices ranged as follow :—Best draught and half-draughts, £47, £3O, £27, £24, £23; others, £2O/10/-, £l9, £lB. £l4, £l3/10/-, £l2, £lO/10/-. £lO, £B/10/-, £B, £6/5/-, £6; hacks, £6, £5/10/-, £5, £3, £2; ponies, £5/15/-, £5, £3/15/-. Levin Stock Sale At the Levin sale on Tuesday, Associated Live Stock Auctioneers, Ltd., offered medium yardings of cattle and pigs. The latter showed a drop on last week’s prices, due no doubt to the adverse weather conditions. . Cattle: Fat cows, £2/12/6, £2/15/-, £3, £3/5/-, £3/7/6; heifers at drop. £4 10/-; springing heifers, £l/17/6, £2/5/-, £3/15/-, £4/5/-. £5/5/-; cows in milk, £2/5/-; cows at drop, £2/12/6. Pigs: Stores, 10/-, 17/-, 18/-; light pork, 17/-, 18/-, 20/-; medium do.. 21/-, 24/-, 25/-, 27/6: heavy do.. 30/-, 37/6. Gisborne Sale Dominion Special Service Gisborne, August. 18. At the Gisborne sale beef was dull of sale, most of the entry being unfinished. Choice Hereford cows. £2/10/-; fairly good. £2 to £2/7/6: others. 32/0 to 35/-; heifers, 30/- to 47/6. ' Fat Sheep.—A medium entry of good quality ewes made a small advance. Ewes' 5/- to 7/-; Border Leicester twotooths. 8/3; lambs. 8/3 to 9/-; second grade ewes, 4/3 to 5/8. Store Sheep.—A small entry. Hoggets, good. 7/8 to 8/7; fairly good. 6/-; other values unchanged; empty ewes, fat and forward. 4/6; forward two and fourtoot hs, 7/3 to 8/5; breeding ewes were scarce; five and eix-year. fairly good, 7/-.

Buying and selling quotations at yesterday’s final call on the Wellington Stock 'Exchange were as Poliow.Buyers. N.Z. GOVT. LOANS— 44 n.c. Bonds, 1938 ... £ 8 95 0 d 0 & 8 96 0 0 Si l>r. ditto, Sep., 1937 101 0 0 . — 4} p.c. Insc. Stk., 1939 and 1938 95 0 0 95 10 0 5$ pX?. ditto, 1936 ... 51 p.e.‘ ditto, 1933 ... as n 98 10 0 5} p.c. ditto, 1937 ... — 98 O debentures— _ Wellington Gas Co. .. Wgtn. Harb. Bd., 5J p.c., 1940 99 5 0 ■ — 100 ,0 0 — Eastbourne Boro., 6J p.c., 1952 — W 0 0 Hauraki Plains, 5J p.c., itm — 97 0 0 BANKS— , 4 _ Commercial Aust., ora. 0 13 9 0 14 1 Ditto, pref. ......... Commercial Bank. Co., 8 15 6 -fK A 1» V National N.Z. ........ New South Wales ... 3 9 26 12 3 6 •27 ~5 0 New Zealand 2 6 9 —“• Ditto, long term .... 1 7 0 Union of Aust financial— 7 1 7 10 1 8 0 7 1 Dalgety and Co. ...... Golasbrongh, Mort ... National Mortgage "By : X 0 16 0 N.Z. Guar. Corp., ord. 0 5 3 N.Z. Loan & Merc., ord. GAS— 38 0 0 Auckland 1 0 9 0 14 8 Wellington, ord INSURANCE— 1 10 0 New Zealand ......... 2 0 6 "ST South British meat preserving— 2 15 1 12 6 •i •w* N.Z. Refrig. (£1) ...p 0 11 8 •— i 0 ; 4 VW* Cantb. Fr. Meat, pref*TRANSPORT— 4 10 0 — Union Steam, pref. .. 0 19 11 Hnddart, Parker, ord. 1 7 V WOOLLEN—' 8 15 0 TIMBER— . 0 9 6 0 4 9 brfaveries— 1 12 7 ‘■■V* New Zealand 1 6 6 — Staples and Co .. 1 2 0 Tooth and Co .1 7 0 — MISCELLANEOUS— British Tobacco, ord/ 1 o 10 19 Burns, Philp and Co. .. 2 0 0 — ■ Colonial Sugar ...... 44 10 0 — Dunlop Rubber 0 12 3 — Electro. Zinc, pref. ... N.Z. Farmers’ Fer1 2 0 13 9 70 14 3 3 Wilson’s Cement 1 9 3 Woolworths, pref. ««.• 1 5 9 — OIE— 0 8 0 0 1 8 0 2 0 MINING— Alexander, contr. 0 17 1 0 12 aS 0 13 1 Consol. Goldfields .... 0 4 6 King Solomon 0 1 7 1 Mahaklpawa. pref. ... 0 0 4 — 7 Mount Lyell 1 0 0 1 0 ■ 1 ■ WMM ... 0 16 0 —— Big River, 1/- paid .. Ditto. lOd paid 0 0 11 0 0 9 0 12 0 0 11 ♦Cum. dividend. fEx. dividend.

terday WELLINGTON. £ 8 d Sales on ’Change: New Zealand Breweries (2) .... Sales reported: N.Z. Govt. 5i p.c. Stock, Sep., 19X7 / 1 101 6 fl 6 Ditto, 51 p.c. Stock, 1933 .... 98 5 0 Com. Bank of Aust, ord 0 13 10 N.Z. Eefrigerating Co., El pd. ’0 11 V 1 12 9 1 10 3 New Zealand Breweries 1 0 G ♦1 0 0 •0 17 3 •Late sale Wednesday. AUCKLAND. £ Govt. Bonds, 4J p.c., 1939 s d 95 10 0 N.Z. Breweries, debentures 1 0 o Commercial Bank of Aust. .. 0 13 9 9 Bank of New Zealand (2) ...... 2 . 7 0 Ditto. “D” mortgage Union Bank of Aust, Melbourne 7 fl 2 0 9 Tooth’s Brewery 1 7 6 1 u N C Z. Refrigerating, £1 pd Ditto, 10/- pd. 0 11 0 4 9 Robinson Ice Cream 0 10 0 V 1 7$ Union Oil ... 1 2. fi Wilson’s Consent ....•■•••■••• . 1 9 3 0 S 0 0 0 7j 0 0 6 1 0 0 CHRISTCHURCH £ s d 0 13 : 11 Bank of New Zealand Ditto .’ ....... .... • •••• 2 6 9 2 7 0 1 4 0 Di Ho (21 1 4 N.Z. Refrigerating, £1 paid .... N.Z. Breweries (2) 0 11 1 0 6 British Tobacco 1 9 0 Electrolytic Zinc, pref. (2) 1 9 Colonial Sugar 45 O 0 o : 19 : 11 1 0 9 Gnlden Point (2) 0 0 7$ Sales reported— N.Z. Refrigerating, £1 paid ...... o : 11 7 Ditto 0 : 11 6 , Ditto 10/- paid .... o 4 7 Ditto 0 4 0 Mount Lyell .................... 0 : 19 8 DUNEDIN. £ 8 d Sales on ’Change— N.Z. Breweries Sales reported— 1 6 ft 8 Milburn Lime 1 0 N.Z. Breweries .. 1 fl 3 NJ5. Refrigerating, 10/- paid .. 0 4 S Okarito 0 8 8