COMMERCIAL

Evening Star, Issue 20998, 12 January 1932, Page 5

COMMERCIAL

¥ THE SHARE MARKET DUNEDIN STOCK EXCHANGE. At tho morning call of the Dunedin Stock Exchange to-day a buyer offered £26 for Bank of New South Wales shares, but sellers were not present. Bank of New Zealands had a closer market, buyers still offering £1 4s, with a seller at £1 5s 6d. Two shillings separated buyers and sellers of Commercial Banks. The shares were sought for at 13s lOd, but were',not obtainable under 16s. ' Sellers of Standard Insurances eased to £2 5s without a buyer offering. There was again inquiry for Goldsbrough, Mort at £1 3s, but no shares were offered. A parcel of Colonial Sugars was offered at £43, but there was no response. There was inquiry for ‘ Otago Daily, Times;’ shares at £2 5s without a seller on the'market. Sellers of Wilson’s Cements were firm at £1 16s, but no buyer offered more than £1 13s. N.Z. Breweries were easier with sellers at £1 8s 9d and buyers at £1 7s 9d. There was a slight improvement in Okaritos, a sale taking place at 10s 6d and the market closing with buyers offering 10s 6d and no seller under 10s 9d. There was a fair offering of Government Bonds and Stocks, but the demand was weak. There was a reported sale of 1937 5j- per cent. Bonds at £IOO. Sales Reported.—l 937 Si- per cent. Bonds, £IOO. Sale on ’Change.—Okarito, 10s 6d. Quotations as under:—

SYDNEY WOOL SALES. PRICES HARDER. Press Association—By Telegraph—Copyright. SYDNEY, January 11. At tli© wool sales 10,457 bales were offered and 9,800 were sold, while 1,426 were disposed of privately. There was good all-round competition, with prices showing a hardening tendency. On lines of quality there was an advance of 5 per cent. Greasy merino made 16 Jd. The average price of wool sold last week was £lO 5s 3d per bale, or B.OGd per lb. LONDON STOCK EXCHANGE. Press Association—By Telegraph—Copyngbt. LONDON,. January 11. (Received January 12, at 10 a.m.) P. and 0., 21s td. PRICE OF GOLD. Press Association—By Telegraph—Copyright. LONDON, January 11. (Received'January 12, at 10 a.m.) Fine gold is quoted at £6 Is lid'per ounce. BRADFORD MARKET. Press Association—By Telegraph Copyright. LONDON, January 11. (Received January 12, at 10 a.m.) Bradford is firmer, with more inquiry for fine tops. LONDON WHEAT MARKET. Pres* Association—By Telegraph— Copyright LONDON, January 11. (Received 1 January 12, at noon.) Wheat cargoes are steady. Parcels are unchanged. Futures.—London; February 24s lOd, June 25s sd. Liverpool; March 6s 5Jd, May 5s 7jd, July 5s B|d. SYDNEY STOCK EXCHANGE. A BRIGHTER TONE. Press Association—By Telegraph—Copyright. SYDNEY, January 11. The Stock Exchange experienced a welcome improvement in the volume of business, with a brighter tone, the inquiry embracing a wider range of stocks. Australian Consolidated Bonds and Stocks continued on the upward run, 4 per cent. 1938 Bonds at £95 10s, showing a lOs rise; and finishing at £95 7s 6d. The 1941 Bonds found buyers at £94 17s 6d, and 1947 sold 20s higher at £94- 10s, while 195159 Bonds had sales at £94 12s 6d. There was a little more activity in banks, and Bank of New South Wales recovered 5s to £3O 15s. Commercial Bank of Australias sold at 16s 3d, and Commercial Bank of Sydney at £l7 7s 6d. Queensland National Banks found a buyer at £6 Is. New Zealand Government Stock, 5} per cent. (1937), had a sale at £ll2. Other sales were Goldsbrough, Mort, 27s 9d; Colonial Sugar, £49; Broken Hill Proprietary, 17s Hd; Broken Hill South, 46s 3d; Dnulop Perdriau. 14s 3d; British 'Tobacco, 30s 6d; Zinc Corporation, 30s 4Jd. (Received January 12, at 1 a.m.) During the four days which the exchange lias been operating since the holidays jnost jbqnda edyapoetl £2,

Shorter dated issues are most popular, notably 4 per cents. 1938, which moved up £2 12s 6d, and 1944 and 1947, each gaining 50s. The greatest gain was reflected by the 1959 issue, which was added 55s since last year’s closing figure. NAPIER WOOL SALE. OFFICIAL RANGE OP PRICES. ■ [Per United Press Association.] NAPIER, January 12. The official range of prices at tin* Napier wool sale is:— Southdown.—Super., up to lljd{ average, 8d to lOd; inferior, 6d to 7Jd.U Medium Half-bred (50-56).—Super., 8d to 9]d; average, 6d to 7£d; inferior, nil. Coarse Half-bred (48-50). —Super.,7d to B|d; average, 6d to 7d; inferior, 4d to s£d. Fine Cross-bred (46-48). —Super., .6d to 7d; average, 4Jd to s|d; inferior, 3d to 4id. Medium Cross-bred (44-46). —Super., 5d to 6Jd: average, 4d to sd; inferior, to 3Jd. Coarse Cross-bred (40-44). —Super.-„ 4Jd to s)d; average, 3d to 4d: inferior, 2d to 3d. Low Cross-bred (36-40). —Super., nil ; average, 3d to 4d; inferior, nil. Hoggets.—-50-56’s, nil; 40-50’s, 6d to Sid; 46-48’s, 4d to 7Ad; 44-46’s, up to sd; 40-44’s, nil. Lambs.—46-50’s, 6d to 8(d; 40-46’s, up to 5Jd; seedy and inferior, Id to 4d._ Necks, 5d to 8-Jd. Pieces.—Good to super., 5d to 6§df low to medium, 3d to 4]d; seedy and inferior, Id to 2gd. Bellies.—-Good to super., 3d to 4Jd;’ lowho medium, 2d to 3d; seedy and inferior, lid to Ifd. Crutcbings.—Good to super., 4d to sd; low to medium, 2jd to 3Jd; seedy and inferior, Jd to 2d. Locks.—Cross-bred, id to 2id. GOLDEN DAWN MINES. The mine report for the two weeks ended January 2, 1932, is as follows Slopes on No. 1 reef above No. 3 level:' machines have been working breaking ore and filling the slopes. The reef here still averages three feet wide, and the ore broken is of a good pay-' able class. Slopes on No. 3 reef above No. 3 level; Two machines have been working breaking ore and filling for the ', stopes. The reef here also averages three feet wide, and the ore broken looks very well. The ore from the stopes on both reefs is being sent to the battery, which- is now running full time. Cross-cut east from No. 2 level has been extended 14ft, total 59ft. The country in the last round of shots is-, fairly hard, and is interlaced with quarts stringers that are carrying a little cinnabar. That looks as if we are dose to the No. 3 reef. RATRUT BASIN TIN.

Eatrut Basin Tin Dredging Co. N.L., has received an offer from “ substantial financial interests ’’ for the taking over, of its undertaking and assets. The offer to share and debenture holders is that a new company be formed ,%ith a capital of £87,500 in 350,000 shares of 5s each; shareholders to have the right of taking up one contributing share for every two shares held, the shares to bo paid for in cash on application; holders of special first mortgage debentures to receive two fully-paid shares and 8s in cash for each debenture; holders of first mortgage debentures to .receive a fully-' paid share for each debenture. ‘Of the proposed share issue of 350,000 shares of 5s each, 86,000 will be issued fullypaid to special debenture holders; 20,000 will be issued to underwriters for the cost of underwriting, 140,000 will be offered as contributing shares to shareholders, 6,655 will be available foe excess applications-, and 70,000 will be reserved. Tlie directors state that after, shareholders have taken up 146,655 contributing shares, and special debenture holders have received their cash, £16,464 will be available in Penang to expend on repairing the dredge. BIRMINGHAM SMALL ARMS. Depression in the irop and steel trade has affected the profits of companies engaged iff that and associated industries tO' a marked degree. The Birmingham Small Arms Company reports a Joss for, the year of £112,944, compared with a; profit of £242,276 for the previous year.. After providing for debenture interest' and the dividend on the, preference shares, there is a credit balance to go forward of £77,318; compared . with £305,297 brought in. The report attributes the loss to the continued depression, combined with ex* penses involved in various technical departments. No dividend is being paid on the ordinary shares, which received 5 per cent, for , the previous year. PROPERTY SALE. , Messrs N. and E. S. Paterson Ltd.# under instructions from the'City Council, offered for sale by auction at their rooms, on Saturday ‘last, the undermentioned corporation building leases;] Part- allotment 3, subdivision part block VI., Township of South Dunedin (King Edward street), in the name of William M. Caddie; part allotment 11, block X., extension of Township of South Dunedin (King Edward street), in the‘name of Annie B. Tombs; allotment 21, subdivision section 6, block VII.. Town District (Broughton street), in the name of Annie Day and another ; allotment 22, subdivision section’ 6, block VIL, Tow r n District, in the name of the executrix of the late J. Conniff. The leases were all sold to the present tenants at the upset rentals.

Buyers. Sellers. £ s. d. £ E. d. BANKING— Bank of N.S.W. ... 26 0 0 Bank of New Zealand 2 4 0 2 7 6 Bank of New Zealand (Long “ D ”) 15 0 Commercial Bank 0 13 10 0 16 0 National Bank of N.Z. (ex div.) 4 10 0 INSURANCE— National Insur. Co. 0 12 6 N.Z. Insur. Co. 2 1 0 Standard Insur. Co. — 2- 5 0 SHIPPING— U.S.S. Co. (pref.) ... ' 0 19 10 1 0 6 COALWestport Coal Co. ... 12 9 Westport-Stockton (pref.) 0 3 0 LOAN AND AGENCYGoldsbrough, Mort ... 13 0 National Mortgage ... — 2 4 0 N.Z. Loan and Mercantile (ord.) 51 0 0 MEAT PRESERVING— N.Z. Refrigerating (paid) 0 10 6 0 12 0 N.Z. Refrigerating (coilt.) 0 4 7 0 5 0 MISCELLANEOUS— Colonial Sugar Co. ... 43 0 0 D.I.C. (ord.) 0 12 0 ■ — D.I.C. (pref.) 0 19 6 — Milburn Lime and Cement ... 1 10 0 M‘Leod Bros 22 0 0 National Electric 6 9 0 ‘ Otago Daily Times ’ 2 5 0 — Wilson’s (N.Z.) Cement 1 13 0 1 16 0 BREWERIES— N.Z. Breweries Ltd. 17 9 1 8 9 N.Z, Breweries Debs. 110 — Dunedin Brewery 0 19 0 1 1 0 MINING— Waihi 0 16 2 Molyneux Electric ... 0 3 0 — Kildare 0 1 10 0 2 2 Okarito 0 10 6 0 10 9 Paddy’s Point 0 2 6 0 3 6 Golden Progress — 2 5 0 King Solomon 0 1 11 0 2 2 Bfaokwater 0 3 9 — WAR BONDS (Bonds quoted are £100 Bonds) 1 — 1938 41- p.c. Bonds ... — 97 2 6 1939 4i- p.c. Bonds ... , 97 2 • 6 1938 4|- p.c. Inscribed — 97 2 6 1933 5* p.c. S.S. Bonds — 99 15 0 1936 ' 5£ p.c. Bonds ... — 100 10 0 1937 5£ p.c. Bonds ... 99 15 0 100 5 0 1937 p.c. Inscribed 99 15 0 100 5 0