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COMMERCIAL

THE SHARE MARKET

DUNEDIN STOCK EXCHANGE

Very few changes were recorded on the Slock Exchange this morning, the buyers for all issues dominating.

Bank of New Zealands continued to improve. Buyers for Australasias increased their limit by Is to £9 ss. In the insurance section, there were no sellers of any of the stocks, the buyers remaining firm at prices quoted yesterday. Burns, i’hilp improved to 37s (buyers), with still no sellers in sight. The buying and selling quotations for Westport Coal have come nearer reaching a market price, buyers now offering 13s, with sellers 6d away. There was no change in the miscellaneous or brewery sections. A sale of King Solomons was reported at Is T-jid, the final quotations of Is 4d (buyers), Is 6d (sellers) being a noticeable improvement on yesterday’s prices. A buyer of Okaritos increased his hid by Is, but sellers'remained firm at 9s 3d. Government loans were again unoffered, tho buyers advancing their bids in practically all issues. Sale Reported.—King Solomon, Is 4£d. Quotations as under. —

AUSTRALIAN STOCK EXCHANGES. Press Association—By Telegraph—Copyright. SYDNEY, July 5. On the Stock Exchange a reaction from the previous Jay’s unusual rise in Commonwealth Bond values was noted to-day. Sellers were attracted by the higher rates, and buyers immediately reduced their limits, with the result that declines were substantial in some instances. Apart from bonds, the business covered a wide range. The following sales were made Bank of New South Wales, £2B 12s 6d; Commercial Bank of Sydney, £l6; National Bank (£5 paid), £5 14s; Bank of Australasia, £lO 3s; Queensland National Bank, 995; Colonial Sugar, £45 10s; Dalgetys, £7; Adelaide Steam, 18s 7£d; Fairmead Sugar, 2'E 10)d; Tooths, 295; Toohey’s, 19s; British Tobacco, 30s Gel; Dunlop Perdriau, 12s Gd ; Goldsbroughs, 22s 9d; Klectrolytic Zinc (pref.), 22s 7 pi; Gordon and Gotcb, 275; Nestles (pref., ex dividend), 29s 6d ; Zinc Corporation, 25s 3d; Sulphide Corporation, 8s 3d; Broken Hill Proprietary, 16s 3d; North Broken Hill, 61s 6d; South Broken Hill, 43s 3d; New Zealand Debentures, 54 per cent. (1937) £110; Bonds—four per cent. (1938) £96 12s 6d, 1941 £95 10s, 1944 £94 13s 9d, 1947 £95 ss, 1950 £94 17s 6d, 1953 £95 17s 6d, 1955 £94 ss, 1957 £94 10s, 1950 £95, 1961 £95. MELBOURNE, July 5. The following sales were made;— Bank of Australasia, £lO 7s; Commercial Bank. 15s od ; Bank of New South Wales, £2B 15s ; Goldsbroughs, 22s 9d ; Huddart, Parker, 265; Adelaide Steam, 18s 6d; Dunlop Perdriau, 12s 7d; ‘ Herald and Times,’ 48s 3d; South Broken Hill, 43s 3d ; North Broken Hill, 61s 3d; Mount Lyell, Is lOd; Taranaki Oil, Is 2d. AUSTRALIAN STOCKS. Press Association—By Telegraph—Copyright. NEW YORK, July 5. (Received July 6, at 11.55 a.m.) Commonwealth fives, 1955 and 1957, each £7O; four and a-halvcs, £64 10s; New South Wales, 1957, £6B; 1958, £67 10 s; Queensland sevens, £79; sixes, £7l,

FOREIGN EXCHANGES. (British Official Wireless.) Press Association—By Telegraph—Copyright. RUGBY, July 5. (Received July 6, at 11 a.m.)

LONDON STOCK EXCHANGE. Presi Association—By Telegraph—Copyright. "LONDON, July 5. (Received July 6, at 11.55 a.m.) Bank of Australasia, £8 18s 9d; Bank of New South Wales, £2O 10s; Union IBank of Australia, £6 2s 6d; National Bank of New Zealand, 60s; Bank of New Zealand. 4 per cent., £96; Bank of New Zealand shares, 42s 6d; Loan and Mercantile, 4 per cent, debentures, £6l 10s; ordinary stock, £3O 10s. UNION BANK DIVIDEND. Press Association—By Telegraph—Copyright. LONDON, July 5. (Received July 6, at 11.55 a.m.) The Union Bank of Australia has declared a final dividend o’ 4 per cent., tax free. PRICE OF FINE GOLD. Press Association—By Telegraph-Copyright. LONDON, July 5. (Received July 6, at 11.55 a.m.) To-day the price of fine gold is £5 16s 5d per oz. P. AND 0. SHARES. Press Association—By Telegraph—Copyright. LONDON, July .5. (Received July 6, at 10 a.m.) P. and O. shares, 17s lOld. NEW ZEALAND INSURANCE COMPANY. [Per United Press Association.] WELLINGTON, July 5. The directors of the • New Zealand Insurance Company have decided to recommend to the shareholders at the annual meeting on August 2 the payment of a final dividend of Is a share for the half-year, making a total disbursement for the year of 2s a share. The dividend recommended is at the same rat© as was paid last year. ALL DEPARTMENTS ACTIVE. Press Association—By Telegraph—Copyright. London, July 5. (Received July 6, at 11.55 a.m.) The Stock Exchange is active in all departments, but there were fewer dealings than yesterday.' Australian and New Zealand prices were fully maintained, some being slightly firmer. METAL MARKET. Press Association—By Telegraph—Copyright LONDON, July 4. The following are the official quotations in the metal market:—

Copper.—Standard, £26 8s 9d per ton; forward, £25 13s 9d. Electrolytic.—Spot, £3O 10s; forward, £3l 10s.

Wire bars, £3l 10s. Lead.—Spot, £10; forward, £ll. 8s 9d., 7 , „ Spelter.—Spot, £ll 8s 9d; forward, £ll 18s 9d. Tin.—Spot, £l2l 12s 6d; forward, £123 7s 6d. Silver.—Standard, 16|d per ounce; fine, 17 15-16 d. BUTTER AND CHEESE. The South Island Dairy Association has received the following report from the New Zealand Produce Association (London): —Butter, 99s to 100 s; Danish, 100 s. Cheese; White, 60s; coloured, 58s to 595. Both markets are firm. Messrs H. L. Tapley and Co. Ltd., South Island agents for the AngloContinental Produce Co., London, have received the following cable:—Butter, 100 s per cwt. Market steady. Cheese, 59s to 60s per cwt. MEAT EXPORT. THE SEASON’S KILLINGS. The Meat Producers’ Board has issued its monthly report of the operations of the freezing companies for the season commencing October 1, 1931, to June 15, 1932. The figures for the corresponding period in the preceding year are published for comparative purposes : NORTH ISLAND.

CABLES AND WIRELESS COMPANY, Press Association—By Telegraph—Copyright. LONDON. July 5. (Received July '6, at .11155 a.m.) Cables and Wireless Company has declared a dividend of 2J per cent, on the preference stock for 1931. A THAMES DEVELOPMENT. , Monowai Gold, Copper, and Lead Mines Ltd., Auckland, has been registered with a capital of £50,000 divided into 200,000 shares of 5s each. Its objects are to acquire the Zeehan, Broken Hill, Monowai. and other special claims at Waiomo, Thames, from the Waiomo Sulphide Corporation, together with milling and treatment plant situated at Pohui Creek, Waiomo, erected in 1930 and valued at £25,000. A total .of £39,500 was, expended since 1929. The directors of the new company are Messrs F. H. Claxton, W. Goodfellow, T. P. Ponsonby, R. S. Thompson. W. C. Motion, J. M. Wilson, and J. W. M'Coy# ■ REPARATIONS SQUABBLE, , « Whatever is to be the outcome of the present bickerings concerning war debts and disarmament, it is well to realise what has already happened (says ‘ The Dominion . The Germans have paid’ the Allies £400,000,000. In their turn the Allies have paid the United States of America a similar sum. So far so good. ; But. it must not be forgotten, that in the meantime citizens of the United States of'America 1 have lent Germany £500,000,000. Actually then America has lent Germany th'e money to pay her creditors and £100,000,000 besides. France, .on the other hand, has neither lent Germany money dr made.any investments in Germany worth mentioning. More-, over, she is entitled.to half of all, the reparations and unconditionally to £4,000,000 a year subject to no legal postponement." Virtually France has a first mortgage on Germany. She can veto all Anglo-American schemes for the col-, lection of commercial debts, -for Germany cannot pay both reparations and commercial, debts.- France, therefore, is in a position to block any effort made by any country to get their money back from Germany. Since the Germans even now are not unwilling to honour commercial debts and are determined it would seem never to pay a penny more of reparations, it is obvious that the position is ideal for indefinite argument. AUSTRALIAN GLASS CO. EXTRA AUCKLAND PLANT. In addressing shareholders at the annual meeting of Australian Glass Manufacturers Company LimitejEl, Melbourne, the chairman of directors, Mr E. N. Grimwade, said an improvement had taken place in the demand for bottles during the last half of the year, compared with the corresponding period of the previous year. The increased profit had also been helped by the strictest regard to economy. During the year the directors had used some ingenious appliances and the results had been profitable for both efficiency and economy.. During the year the board found it necessary to lay down a plant at the Auckland works to make corrugated strawbqard to Inake necessary economies in the packing costs of bottles and jars. The results gained had been most satisfactory. “1 referred last year to the terrible incubus of taxation, which is making progress in business so difficult, and expressed the liope that some relief might soon be experienced,” continued Mr Grimwade. “On the contrary,* taxes are heavier and the exactions and harassments of these departments worse than ever. The position almost daily becomes more intolerable.”

The company’s accounts showed an increase of £15,3G9 in profit at £92,137.

Buyers. Sellers. £ s. d. £ a. d. BANKING— Bank of Australasia 9 5 0 — Bank of New Zealand 2 3 0 — Commercial Bank ... 0 13 9 0 u i National Bank of Australasia 10 0 0 — National Bank of Australasia (coni.) 4 15 0 — Union Bank of Australia Ltd 7 0 0 — INSURANCE— National Insurance Co. 0 11 4 — N.Z. Insurance Co. ... 1 17 6 — South British Insur. 2 10 6 — Standard Insur. Co. 1 19 6 . — SHIPPING— Burns, Philp 1'17 0 Howard Smith 0 6 0 — P. and 0. Def. Stock 0 17 0 — U.S.S. Co. (pref.) ... 0 19 3 ~ COAL— Westport Coal Co. ... 0 13 0 0 15 G LOAN AND AGENCYDalgety and Co. — 7 5 0 National Mortgage .— 1 17 0 National Mortgage (“ B ” Issue) 0 15 0 — N.Z. Guarantee Corp. 0 4 1 — Perpetual Trustees ... — 2 18 0 Trustees, Executors, and Agency — 2 18 0 Wright, Stephenson (ord.) 0 10 6 — MEAT PRESERVING— N.Z. Refrigerating (cont.) 0 4 O’ — South Otago Breezing 2 , 0 0 — MISCELLANEOUS— Australian Glass — 1 17 6 British Tobacco 1 7 0 .— D.I.C. (ord.) — 0 12 0 D.l.C. (pref.) — 1 0 0 Kaiapoi Woollen (ord.) 0 5 0 — Milburn Lime and Cement — 1 4 6 National Electric — 0 9 0 N.Z Drug Co 2 8 0 — N.Z. Farmers’ Fertiliser ... 0 13 0 — N.Z. Paper Mills ... 0 19 0 —. ‘ Otago Daily Times ’ 1 18 0 — Smith and Smith (pref.) 0 11 6 — Wilson’s (N.Z.) Cemcn t 1 6 0 — GAS— Christchurch 1 6 0 — BREWERIES— N.Z. Breweries Ltd. 1 5 0 1 5 9 N.Z. Breweries Debs. 1 0 0 MINING— Kawarau ..... — 0 0 5 Waihi ... 0 14 0 — Waihi Grand Junction 0 2 3 — Electrolytic Zinc (pref.) 1 0 0 — Mount Lycll 0 17 0 — North Broken Hill ... 2 16 0 — Mahakipawa 0 0 3 0 0 44 Kildare ... — 0 1 d Okarito 0 9 1 0 9 5 Paddy’s Point 0 4 6 — Golden Progress ' ... 0 1 9 0 2 3 King Solomon 0 1 4 0 1 6 Golden Point 0 0 54 0 0 61 Golden Sands 0 1 5 0 1 8 Blackwater 0 8 7 — Gillespie’s Beach ... 0 0 Did 0 0 Oip Waitrhu par OIL— Taranaki Oil ... ... 0 0 9 0 1 5 Moturoa ’ — 0 4 3 GOVERNMENT LOANS _ (Bands quoted are £100 Bonds.] 1938 44 p.c. Bonds ... 94 0 0 — 1939 44 p.c. Bonds ... 94 10 0 — 1938 4i p.c. Ins. ... 94 0 0 — 1939 H p.c. Ins. ... 94 10 0 — 1933 54 p.c. S.S. Bonds 100 10 0 — 1933 51 p.c. S.S. Insc. 100 10 0 — 1936 54 p.c. Bonds ... 100 10 0 — 1936 5i p.c. Ins. ... 100 10 0 — 1933 51 p.c. Bonds ... 98 10 0 — 1933 5i p.c. Ins. 98 10 0 — 1937 51 p.c. Bonds ... 97 0 0 — 1937 bj, p.c. Bonds (February) 101 0 0 — 1937 51 p.c. Bonds (September) 100 15 0 — ■ 1937 5-1 p.c. Inscribed (February) 101 0 0 ~ 1937 51 p.c. Inscribed (September) 100 15 0 —

July 2. July S. Paris, franc to £L 90-5 no? Brussels, belgas to £1 25 11-lC 25.50 Oslo, kroner lo ,£,’1 20 9-32 20* Stockholm, kroner to £1 ... 39 17-32 19 15-32 Copenhagen, kroner to £1 ysi 38? Geneva, franc lo £1 38.32-?. 18.391Berlin, reichmnrken lo £1 33.02-1 15 ' Montreal, dollar to £1 ... 4.10 * 4.04 New York, dollar to £\ ... 3.572 3.55 Amsterdam, florin to £,'l ... S.Sil 8.79 Milan, lire lo £1 70 1-1G C9* Prague, kroner to £1 ... 321 120 Vienna, schilling to £X ... 34 33 Helsingfors, marks to ... 240 235 Belgrade, dinars to — 220 Warsaw zlotys to £'l ... — — Madrid, peseta lo £L 43’ 43f Athens, drachmae to £1 ... 5C0 562-i Lisbon, escudo to £T1 110 110 Bucharest, lei to GOO 597* Rio cle Janeiro, pence to niilreis 5 3-3G *5 1-32 Buenos Aires, pence to dollar nomina nominal Montevideo, pence to dollar *30 *30 Shanghai, pence <o tael — 19? Yokohama, pence to yon ... 19 38 g Hongkong, pence lo dollar 355 15 7-32 Bombay, pence to rupee ... 38 # l-32 38 3-32 Batavia, florin to £X _

1932. 1931. Beef (quarters) 126,731 125,120 1,109,241 485,946 Wether mutton 1,301,180 iiwe mutton 903,948 Lamb 4,148,610 3,361,389 Porkers 122,458 107,583 Baeoners 19,483 25,566 Boneless beef 263,055 174,469 Sundries 99,711 139,769 SOUTH ISLAND. Beef 8 — Wether mutton 121,867 142,922 Ewe mn '.ton. 506,595 243,040 Lamb 4,173,178 3,931,774 Porkers 567 680 Baeoners 1,288 175 Boneless beef ... 32,014 28,035 Sundries 53,873 38,493 STOCKS ON HAND. Tito following wore th© total stocks on hand at June 15, 1932: — . 1932. 1931. Beef (quarters) 53.896 65,019 Wether mutton 431.258 400,706 Ewe mutton 541.239 320,005 Lamb 1,583,403 1,195,963 Porkers ... ... 53,415 37,702 Baeoners 6,032 '4,059 Boneless beef 162,491 122,514 Sundries 45,846 79,492

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD19320706.2.42

Bibliographic details

Evening Star, Issue 21147, 6 July 1932, Page 5

Word Count
2,276

COMMERCIAL THE SHARE MARKET Evening Star, Issue 21147, 6 July 1932, Page 5

COMMERCIAL THE SHARE MARKET Evening Star, Issue 21147, 6 July 1932, Page 5