COMMERCIAL

Evening Star, Issue 21080, 18 April 1932, Page 7

COMMERCIAL

THE SHARE MARKET DUNBDIN STOCK EXCHANGE. A sale of Golden Points at 5d was reported at this morning’s meeting of the Dunedin Stock Exchange. No sales were effected on ’Change. . Buyers of Bank of Australasias offered £8 18s without a seller quoting. New Eealands were sought at £2 3s, but there were no sellers for these shares either. P. and 0. Deferred Slock was on the market at £1 2s 6d, hut buyers would not give more than 19s for it. Brown, Ewing preference shares were obtainable at 19s, but had no inquiry. Sellers of ‘ Otago Daily Times ’ were firm at £2 Is, but the best buyer would not give more than £1 15s. There was a margin of Is between buyers and sellers of Waihis, buyers offering 16s, with sellers asking 17s. Buyers offered 18s 5d for Mount Lyells, with sellers asking 19s. The Government Bondi and Stocks had good inquiry. Sale Reported.—Golden Punt, sd.

DIVIDENDS PAYABLE. Stock. Amount. Period. Date. Kaitangata Coal Is 6d April 19 Electrolytic Zinc (pref.) ... 9 3-5 d interim April 14* N.Z. Guarantee Corp. 2d interim April Woolworth’s (prof.) 10 4-5 d interim April Mosgiel Woollen Co. 3s 22-5 d interim Uay 12 E.S. and A. Bank Is 9 3-5 d interim May 2 *Date payable in Melbourne^ FOREIGN EXCHANGES (British Official Wireless.) Press Association—By Telegraph—Copyright.

THE MEAT MARKET. Press Association—By Telegraph—Copyright. LONDON, April 16. Frozen Meat.—New Zealand sheep— North Island cross-bred wethers and maiden ewes, 651 b to 721 b, 3|d; Australian lambs— Victorian first quality, 361 b and under, 6|d; do., 371 b to 421 b, 53d ; other States, first quality, 361 b and under, 6gd; do., 371 b to 421 b, 53d: other States, first quality, 361 b and under, 6Jd; do., 371 ja to 421 b, ssd. Australian Frozen beef: None offering. Argentine chilled beef: Ox fores, IGOlb to 2201 b, 43d; do. ox hinds, 1601 b to 2201 b, 63d. Others are unchanged. COTTON, RUBBER, ETC. Press Association—By Telegraph—Copyright. LONDON, April 16. Friday’s closing prices are as follow : Cotton: May, 4.66 d per lb. Rubber: Para, 3|d; plantation smoked, l|d. Jute: April-May, £l6 2s 6d. Copra: April-May South Sea, £l4 10s: plantation Rabaul, £l4 12s. Linseed oil, £ls. Turpentine, 56s 6d.

THE WHEAT MARKET. Press Association—By Telegraph—Copyright. LONDON, April 16. Wheat: Cargoes are quiet and mostly 3d to 6d lower. Parcels are in .poor request at lid to 3d decline. London futures: June 25s Id, September 25s Bd, December 26s 4d; Liverpool—May 5s 3d, July 5s 5d to 5s Bd, October 5s Sid. 'COMPANIES REGISTERED. The ‘Mercantile Gazette ’ _ notifies the registration of the following companies : Provident Investments Ltd. Registered as a private company, April 7, 1932. Capital, £6OO, in 600 shares of £1 each. Subscribers: Dunedin— D. E. Watkins 440, L. Ri Kitchin 140, George Kitchin and W. J. Watkins 10 each. Objects: Sharebrokers, stockbrokers, financial brokers, underwriters, company promoters, commission agents. v Gold Star Taxis Ltd. Registered as a private company April 7, 1932. Capital, £I,OOO, in 1,000 shares of £1 each. Subscribers: Dunedin, H. J. Hastie 990, H. G. Laidlaw 10. Obects; To run motor taxicabs, omnibuses, trucks, etc., to transport- passengers and goods, general carriers and l forwarding agents, garage proprietors, motor engineers, etc. ONAKAKA IRON WORKS. ■ The, Onakaka Iron Works, in the Nelson district, which have operated for only six weeks this year, are to close this week for an indefinite period. The execution of New Zealand orders by Australian firms and the imports of pig iron from the Commonwealth are stated to be seriously affecting the success of operations, and a protective tariff is being sought. Thirty men have been employed at the works this year. THE KING’S FLAX, It was announced in Belfast in February that the King has arranged for flax grown on his Sandringham estate to be converted into linen for his own use and that of the Royal Family at Buckingham Palace. Tim flax was grown as the result of an experiment initiated by the King last year to help the Linen Industry Research Association, which wished to discover if certain new pedigree flaxes it had evolved at Lambeg, near Belfast, could be grown in the eastern counties of England. The result was considered. remarkably good, and the crop, yielding about 15cwt of fibre, has been sent to the association’s Lambeg factory_ where it is being prepared for the spinners. It will be spun in the mills of Ewart and Son, Belfast, and will then be distributed to various weaving firms in Northern Ireland and Scotland to be turned into sheets, tablecloths, arid other household and dress linens. HOWARD SMITH LTD. The acting-chairman of Howard Smith Ltd. (Mr A. Howard Smith),_ at the company’s recent annual meeting in : Sydney, - said that ■ there was _ a surplus of tonnage on the Australian coast for the very reduced volume of cargo and passengers offering. Shipowners had to decide between retaining and maintaining their surplus tonnage and selling it at “ break-up ” values. The latter procedure was undesirable on account of the cost of the replacement of any comparatively modern surplus tonnage sold, owing to the possible imposition of prohibitive Customs duties on vessels of more than 1,000 tons gross register. These duties at present were being deferred only for short periods. “ In view of the heavy falling away of trade, lower prices and freights in the coal and shipping industries, and the uncertain political outlook in New South Wales, it is impossible to forecast the prospects for the current year,” added Mr Howard Smith. “ Until there is a revival in-business no indication can be given as to when it will be possible to resume the payment of dividends on the company’s ordinary capital.” OKARITO RETURN. .Messrs W. A. Mitson and Co., secretaries of the Okarito Five-mile Beach Gold Dredging Company Ltd., report that the wash-up for the week ended Saturday, April 16, has yielded 550 z 17dwt for 120* hours’ dredging. LONDON MARKET REPORT. The Bank of New Zealand has received the following advice from its London office under date 14th inst.: — Frozen meat: The demand for wethers is steady, but not sufficient to stand an increase in prices. For ewes there is a steady trade at rather better values. The lamb market is firm with an upward tendency. Wethers, light 4d to 4Jd per lb, heavy 3Jd to 4d; owes, 2Jd to 4d; lambs —twos 7d to 7)d, eights 6£d to fours 6sd to 6Jd, seconds 6Jd to 7&d.

Quotations as under i— Buyer s. Sellcra. £ s. d. £ s. d. BANKING.— Bank of Australasia 8 18 0 _ Bank of N.S.W. ... — 25 0 0 Bank of New Zealand 2 3 0 — Commercial Bank 0 13 7 0 14 0 National Bank of Australasia 9 10 0 10 5 0 Union Bank of Australia Ltd — 6 15 0 INSURANCE— National Insur. Co. 0 12 0 SHIPPING— Huddart, Parker (ord.) ... 1 1 0 P. and 0. Deferred Stock 0 19 0 1 2 6 U.S.S.' Co. (pref.) ... 0 19 10 — COALWostport Coal Co. ... 0 17 6 0 19 6 LOAN AND AGENCY— Dalgety and Co. — 7 2 6 MEAT PRESERVING— N.Z. Refrigerating (cont.) 0 4 5 0 4 5 MISCELLANEOUS— Brown, Ewing (pref.) Colonial Sugar Co. ... 0 19 0 — 38 0 0 Crystal Ice Co. 1 1 3 — D.l.C. (ord.) — 0 12 6 D.I.C. (pref.) 0 19 6 — Dominion Rubber ... — 0 6 0 Donaghy’s Rope and Twine 1 8 0 Eclipse Petrol — 0 3 0 Kaiapoi Woollen (ord.) ... — 0 7 0 Milburn Lime and Cement __ 1 17 6 M’Leod Bros 22 0 0 — N.Z. Drug Co. 2 5 0 0 15 N.Z. Express (pref.) N.Z. Farmers’ Fertiliser — 3 0 11 6 0 13 0 N.Z. Paper Mills 0 18 0 — 0 ‘ Otago Daily Times ’ 1 15 0 2 1 BREWERIES- • N.Z. Breweries Ltd 1 4 0 N.Z. Breweries Debs. 1 0 0 — Dunedin Brewery ... 0 19 0 1 0 6 Tooth’s Brewery 1 2 0 1 4 0 MINING— Waihi 0 16 0 0 17 0 Electrolytic Zinc (pref.) 0 3 5 Mount Lyell 0 18 3 0 19 0 Mahakipawa ... ... 0 0 2i 0 0 Kildare — 0 1 .’.U Okarito — 0 9 9 Paddy's Point 0 3 11 Cornish Point (paid) — 0 0 2 King Solomon 0 1 2 0 1 5 Golden Point 0 0 4 — Golden Terraco — 0 4 6 Consolidated Goldfields .' 0 2 0 Blackwater — 0 7 0 WAR BONDS- ' (Bonds quoted are £100 Bonds.) 1939 4£ p.c. Bonds ... 93 10 0 V — 1933 4i p.c Ins.. . ... 93 10 0 95 0 9 1939 4-| p.c. Ins. 93 10 0 — 1933 5i p.c. S.S. Bonds 98 0 0 — 1933 5£ p.c. S.S. Insc. 98 0 0 — 1936 p.c. Bonds ... 97 10 0 — 1936 5| p.c. Inscribed 97 10 0 —- 1933 p.c. Bonds ... 97 0 0 ‘ — 1933 5i p.c. Inscribed 97 0 0 — 1937 5i p.c. Bonds (February) " 97 17 6 — (September) 97 17 6 _ 1937 p.c. Inscribed (February) 97 17 6. — (September) 97 17 6

RUGBY April 16. (Received April 18, at 10 a.in.') April 14. \pril 16, Paris franc to £l 05 11-IG 05) Brussels, bclgas lo £1 27.00 20J Oslo, kroner to £1 . io o-iG 10 13-1G Stockholm, kroner lo £1 ... mi20 3-16 Copenhagen, kroner to £1 ... ls 13-1G 18) Geneva, franc to ,£'1 JOJ 10| Berlin, rcichmarkcn to £1 15* 15.0.'. Montreal, dollar to ,£'1 4.10) 4.18 New York, dollar to £1 ... 0.77* 3.77 Amsterdam, florin lo £.1 ... 0.31) 0.30 Milan, lire lo £1 ... 73J 73) Prague, kroner to £1 127) 127 Vienna, schilling to £1 ... 32 32 Helsingfors, marks to £1 ... 215 215 Madrid, peseta to £l ... ... 40) 4!) Athens, drachmae to £1 ... 300 300 ; 101)3 Lisbon, escudo to £1 100) Bucharest, lei io £1 (132 030 Rio do Janeiro, pence lo nniroii ■11 4J 3UJ Buenos Aires, pence to dollar 30 3-1G Montevideo, pence to dollar 20 10 13-1G 20 Shanghai, pence to tael 20 J Yokohama, pence lo yon ... 21 3-1G Hongkong, pence to dollar ... Bombay, pence to rupee ... u ii-id 18 1-1G 15’ 18 1-32 Batavia, florin to £1 —