COMMERCIAL

Evening Star, Issue 21216, 24 September 1932, Page 11

COMMERCIAL

THE SHARE MARKET DUNEDIN STOCK FX CHANGE. There was a long list of reported sales this morning at recent prices, six being reported before the call and one after the call, while throe transactions wore effected on ’Change. Bank of Australasia shares moved up to buyers at £9 17s cum dividend, but there was no seller quoting. The inquiry for New South VVales also moved up, buyers offering £2B, but sellers of these shares were also silent. Now Zealauds were firm at £2 Bs, the buying bid being sixpence less. Nationals of New Zealand eased to £4 2s, but buyers were silent. No buyer offered more than 14s fid for National Insurance shares, while buyers of Standards moved up to £2 7s, also without any sellers. .Sellers of P. and 0. Stock advanced thenprice one shilling, asking £1 3s, but there was no inquiry, for the shares. Kaitangata Coals were firm at par, and buyers offered Is discount for them. Westports were wanted at 12s 3d, with sellers at 12s 9d. . No sellers responded to a buying offer of £1 4s fid for Goldsbrough, Morts. Sellers of Gear Meats eased to £1 15s fid without attracting any buyers, and the remaining shares in this section were practically unchanged. Buyers of Australian Glass shares increased their offer to £1 18s fid, but the sellers remained firm at £1 19s fid. The best offer for Crystal Ice shares was £1 6s, but no sellers quoted. Buyers of Dominion Rubbers dropped back to 5s fid; no sellers quoted. There was one shilling between buyers and sellers of Milburn Lime and Cements, buyers having moved up to £1 6s, and sellers still asking £1 7s. - New Zealand Drugs were quoted ex dividend, and buyers offered £2 17s, with sellers asking £2 19s. There was a sixpenny margin between buyers and sellers of Wilson’s Cement shares, buyers offering £1 13s and sellers asking £1 13s fid. A parcel of Wellington Gas shares was for sale at £1 11s, but no buyers bid for it. The inquiry for New Zealand Breweries moved up to £1 9s 4d, and sellers asked £1 9s 9d for them. Dunedin Breweries had a wide market, buyers offering £1 Os fid, with the nearest seller asking £1 3s. Sellers of Waihi shares increased their quotation to 17s 3d, but no buyer offered more than 16s fid. Neither the ordinary

nor the preference Electrolytic Zinc shares were for sale, but buyers offered £1 6s (cum div.) for the former and 16s 7d for the latter North Broken Hills were wanted at £3 ss. There was fair interest taken in the Government Bond section. Sales reported;—National Bank of New Zealand, £4 Os 6d (two sales); Westport Coal, 12s fid; New Zealand Refrigerating (coni.), 3s Brl (late sale yesterday); New Zealand Farmers’ Fertiliser, 16s 6d; Electrolytic Zinc (ord.), 16s 7d; Gillespie’s Beach, 2d prem. Sale reported after the call: —King Solomon, Is lOd. Sales on ’Change:—New Zealand Refrigerating (cont.), 3s 9d; New Zealand Paper Mills, £1 Os 3d; Now Zealand Breweries, £1 9s 9d. Quotations as under . Buyers. Sellers. £ s. d. £ s. d.

DIVIDENDS DUE. Stock, Amount. Period. Data Bank of Australasia 3s interim Sept. 30 British Tobacco ... 3 3-sd, Anal, Sept. 30 North Broken Hill Is interim Sept. 30* Dunlop Rubber (ord.) 7 l-sd. final, Sept. * Electrolytic Zinc (pref.) 9 3-5 d Oct. 27 Waihi Is interim Nov. 1. ■"Payable in Melbourne. "For the half-year to Juno 30, 1931. AUSTRALIAN STOCK EXCHANGES. Press Association —By Telegraph—Copyright. SYDNEY, September 23. On the Stock Exchange the market was strong, embracing a wide range of business, and prices, with a few inconsequential exceptions, moved up. The following sales were made; — Bank of New South Wales, £3l 12s Gd; Commercial Bank of Australia, 17s; Bank of Adelaide, £6 Is 6d; National Bank (£5 paid), £6 10s; Colonial Sugar, £54 15s; Adelaide Steam, 21s ]OJd; Mercantile Mutual Insurance, 19s; Victoria Nganza, 17s 3d; Fairymead Sugar, 2Gs; Henry Jones 345; Goldsbrough, Mort, 28s 7sd; Winchcombe, Carson, 24s 3d; Tooth’s, 34s 3d; Toohey’s, 21s; British Tobacco, 34b; Dunlop Perdriau, 17s; Australian Glass, 44s 9d; Berlei, 25s 9d; Mount Lycll, 245; Zinc Corporation, 31s; Broken Hill Proprietary, 22s Gd; South Broken Hill, 51s. Bonds: 4 per cent. 1938 £lOl, 1941 £lOl, 1944 £lOl ss, 1947 £IOO, 1950 £99 17s Gd, 1953 £IOO, 1955 £IOO, 1957 £IOO 10s, 1959 £lOl 3a 9d, 19G1 £99 17s Gd. MELBOURNE, September 23. Australian Glass, 44 s 3d; Dunlop Perdriau, 16s lid; ‘Herald-Weekly Times,’ 545; Commercial Bank of Australia, IGs lOd; Gordon and Gotch, 30s 3d; North Broken Hill, 755; South Broken Hill, 51s; Taranaki Oil, 3s; Mount Lycll, 23s 9d. COMPANIES REGISTERED. The latest issue of the ‘ Mercantile Gav.ette ’ announces the registration of the following companies : Haggitt, Duthie, and Kinmont Ltd. Registered as a private company September 12,1932. Capital: £I,OOO into 1,000 shares of £1 each. Subscribers; Dunedin—A. M. Kinmont 750, D, J. Kinmont 250. Objects: Land and estate agents, auctioneers, business brokers, and general incidental. Patterson Bros. Ltd. Registered ns a private company September 15, 1932. Capital£2,ooo in 2,000 shares of £1 each. Subscribers: Dunedin— H. M. Patterson. 1,000; Christchurch— T, W. Patterson, 1,000. Objects; Men’s outfitters, general drapers, tailors mercers, and general incidental.

FRUIT AND PRODUCE. Bray Bros. Ltd. (Dunedin) report as follows for week ended to-day:— The chief sales of wheat during the week have been for seed purposes, and fairly largo supplies have been delivered to growers in all districts. Good seed wheat is becoming difficult to secure, and some lines, such as Velvet, are now off the market. The break in the weather will delay sowing operations to some extent, but in the majority of cases wheat has been sown earlier than in previous seasons. The fixed values for milling wheat for the month of September are: Tuscan 4s lOld, f.0.b., sacks extra; Hunters, 5s Old; Velvet, 5s 2Jd. The fowl wheat market is quiet, and there is no doubt that the importation of this class of wheat to the North Island is going to have a serious effect on the sale of lines still held by growers in the South Island. The oat market continues to drag, with few sales taking place. Only odd parcels are being shipped to the North Island on the basis of 3s 6d to 3s 7d, f.0.b., s.i., for A Cartons. B’s are occasionally ordered at 3s 2d, f.0.b., s.i., but under-grade are difficult to sell. The current value to farmers for A’s is 2s lOd, sacks extra, on trucks, country sidings; B’s 2s sd, and undergrade from 2s to 2s 3d, according to quality. There is little to report in the chaff market, and sales are still chiefly confined to lots ex store. Values remain unchanged at £4 10s per ton, sacks extra, ox truck, for the best quality, with £5 for lines ex store. The bulk of the business is in store _ lines. Medium and poor quality are still slow of sale at varying prices. The seed market continues quiet, with practically no wholesale business passing. Merchants’ transactions are still confined to filling retail orders, and deliveries to the country during the week have been on the increase. Millers’ prices are as follow: Flour: 200’s, £l4 2s; 100’s, £ls 2s : 50’s, £ls 7s; 25’s, £ls 17s. Bran, £5 per ton. Pollard, £7 per ton. Oatmeal: 200’s, £2l; 50’s, £23.

Towards the end of last week the Canterbury potato market improved, but this improvement was not reflected in the local market to any extent. Substantial stocks are _ held locally. Buyers are particular in regard to quality, and only freshly-dug lines that are well graded are inquired for. This quality is selling at £5 10s to £6 per ton, sacks in, ex store. Medium quality lines, especially if they are in poor sacks, are hard to sell at about £4 10s to £5 per ton, sacks in, ex store. Only small quantities of apples are now offering, and the market has a firmer tendency. Supplies of both dessert and cooking apples are being readily taken up. A fairly large shipment of Raratongan bananas reached Wellington on Monday ex Monowai. These are due to arrive in Dunedin ex Wingatui to-morrow morning. There are a few Island oranges ex the same steamer, also Raratongan tomatoes, Californian grapes and grapefruit. A shipment of Samoan bangnas ex Maui Pomare ripened in splendid order, the consignment being easily the best for quality landed in Dunedin for several seasons past. The northern agents have now stationed an overseer at Samoa to superintend the packing of bananas. The overseer has had considerable experience in banana growing in Fiji. An expert is also aboard the vessel, and he will report to the agents on various aspects of transporting the fruit, packing, etc. The next shipment of Samoan bananas is expected to arrive in about a fortnight’s time. There is not expected to be an oversupply of bananas from now on to the end of the year. Supplies of oranges are getting into short compass. Local stores are now clear of the Wainui’s last consignment, also of cool store fruit. The Wainui is due on Tuesday next with navels and valoncias. The consignment which is coming from South Australia, Bern districts, is reported to be in excellent condition and will, as usual, meet with a keen demand. The quality of the fruit from the above-mentioned districts this year has been exceptionally good. The'buyers speak in high terms of tho keeping quality of the fruit. North Island poorman oranges aro still on offer and are at present taking the place of grapefruit, which is high m price. There will be no boat from Sydney until after tho arrival of the Wainui from Melbourne on Tuesday. The Waikouaiti is expected to leave Sydney about September 28 for Bluff and Dunedin. Mandarins, pines, and passions will be in short supply until the arrival of the Waikouaiti. Cauliflowers are in good supply, the favourable weather having brought on the crops. Spring cabbage has a good demand, with better prices ruling. There is a good demand for choice hearted lettuce. Rhubarb is more plentiful. The market is a little easier. Parsnips and swedes are in over-sup-ply. Sales of carrots are slow. There is a bettor inquiry for honey. The egg market remains unsteady. Sales of honey are fairly quiet. The following prices were realised during the week:

Apples.—Dessert, 5s to 8s 6d case; cooking, 4s to 5s 6d case. Pears.—Dessert, half-cases, 3s to os case; bushel cases, 7s to 10s case; cooking pears, 3s to 5s 6d case. Mandarins, 10s to 13s case. Pineapples, 10s to 18s case. Lemons. —New Zealand, 14s to 16s case; Australian, 22s to 25s case. Californian grapes, 36s 6d keg. Bananas. —Green, 16s; ripe, 18s to 20s case. Seville oranges, 11s to 14s case. Cucumbers, 10s to 14s dozen. Rhubarb, 4d to fijd lb. Potatoes, £5 10s to £6 per ton. Carrots, to 5s cwt. Parsnips, to 5s cwt. Cauliflowers, 2s 6d to 4s sack. Celery, 2d to fid hunch. Garlic, to 4d lb. Cabbage, 2s Gd to 4s sack. Marrows, wanted, to 12s cwt. Swedes, to 2s 6d cwt. Onions.—Canterbury, 32s to 37s cwt. Eggs, lid to Is dozen. Honev.—Bulk, to fid per lb. Peanuts, 3d to 4d lb. Walnuts, 3d to fid lb. Beeswax, to Is 3d lb. Woodwool, 28s bale. Tallow, 6s 6d to 8s 6d cwt. Oyster grit, 8s bag. Butter.—Pats, Is ; dairy pats, to 9d; bulk, Is Okl lb. x Bacon.—Gold Medal brand: Shoulders, lOd lb; ham ends, lid lb; equals, 10]d lb; middles, Hid lb; cooked pressed ham, Is 6d lb; boneless hams, Is 0)d lb. Lard, 6d lb. Oats.—A Gartons, to 3s 8d; B Gartons, 3s 2d.

Pollard, £7 per ton. Milling wheat, 4s 9d to 5s lei bushel Fowl wheat, 4s 6d to 4s 9d bushel. Bran, £5 per ton. Wheaton straw, £3 per ton. Glover hay, £5 10s per ton. Oatsheaf chaff, £5 10s to £G ton. Violets, Is to 2s dozen. Boronin, 3s dozen. ■Arum lilies, 2s dozen.

BUTTER AND CHEESE. The South Island Dairy Association has received the following cable from London:—Butter, quiet, 108 s to 114 s; unsalted, 110 s to 114 s; Danish, 121 s to 1245. Cheese, quiet; white, 635; coloured, 595. , _ _, , Messrs A. S. Paterson and Co, Ltd. are to-day in receipt of the following cable advice from their principals, Messrs J. and J. Lonsdale and Co. (London) Limited; —Butter: Market quiet; buyers inactive; Danish, 106 s; New Zealand, 112 s, 113 s; Australian, 105 s, 106 s. Cheese: White cheese, 645; coloured cheese, 60s. Messrs H. L. Tapley and Co. Ltd., South Island agents for the AngloContinental Produce Company, London, have received the following cabled market report:—Butter, 109 s to 112 s per cwt; cheese, white 64s per cwt, coloured 60s per cwt. XMAS GIFTS OF NEW ZEALAND BUTTER. The New Zealand Dairy Produce Board intimates by advertisement in this issue that its arrangement in connection with gifts of butter from residents in New Zealand to friends in Great Britain is still being carried on. For the sum of 6s 8d the board will arrange at any time during the year for its London Office to supply 41b of New Zealand “Finest” Butter, carefully packed in cartons, to any address in Great Britain free of any cost to the recipient. In order to ensure delivery before Xmas, orders should reach the Secretary of the Board, 6.P.0. Box 866, Wellington, before October 29. LONDON MEAT MARKET. The Bank of New Zealand has received the following advice from its London office, under date September 23;—Frozen meat: For wethers the market is quiet but firm, and there is a steady demand for ewes. The demand for lambs continues, but it is not quite so brisk. Trade generally is slow. Wethers, light 3Jd to 4d per lb; heavy, 2Jd to 3Jd; ewes, 2d to 2fd; lambs—twos 4|d to fiid, eights 42d to 5Jd, fours 4sd to 4id, seconds 4|d to 4|d. METAL MARKET. Press Association—By Telegraph —Copyright. LONDON, September 22. The following are the official quotations : Copper: Standard, £35 15s per ton (rise 19s 4Jd); forward, £35 16s 3d (rise £1 IslOJd). Electrolytic: Spot, £39 5s (rise £1 ss) ; forward, £39 15s (rise £1 ss). Wire, bars, £39 15s (rise £1 ss). Lead: Spot, £l3 6s 3d (rise 7s 6d) ; forward, £l3 7s 6d (rise 6s 3d). Spelter; Spot, £ls 15s (rise 7s 6d); forward, £ls 16s 3d (rise ss). Tin r Spot, £154 8s 9d (rise £2s 11s 3d); forward, £156 3s 9d (rise £2 Gs 3d). _____ PRICE OF FINE GOLD. Pre«s Association—By Telegraph—Copyright. LONDON, September 23. (Received September 24, at 10 a.m.) Fine gold is quoted at £5 18s lid per oz. MOUNT LYELL SHARES. Press Association—By Telegraph—Copyright. LONDON, September 23. (Received September 24, at 10 a.m.) Mount Lyell, 19s lid, THE SEARCH FOR GOLD. KILDARE REPORT. During the past month the work of stripping the Kildare lead has continued steadily, three shifts being worked. A plentiful supply of water is now available between Roche’s Gorge and St. Bathans, and advantage is being taken of the of getting the head of the Scandinavian race cleaned out. Surplus water is being used at the Surface Hill claim for stripping purposes. MOUNT LYELL. The Mount Lyell Mining Company’s progress report for the fortnight ended September 7 is as follows: North Mount Lyell Mine.—Tons extracted, 7,412; 1,300 ft level No. 2 rise to 48ft through hard low-grade quartzitic ore. Crown Lyell Mine.—Tons extracted, 1,975. Surface mullock pass rise, commencing from southern side of mullock pass tunnel at 261 ft point, lifted to 22ft through low-grade ore, transfer pass drive to 55ft through schisty ore; 300 ft level, mullock pass rise to 96ft above level through schisty ore; I,oooft level, Crown shaft, to 92ft above level through hard, dark grey schist. Royal Tharsis Mine.—Tons extracted, 1,346. No. 4 level: Tharsis shaft to 466 ft above I,looft level through grey pyritised schist and schisty ore. Main cross-cut to 68ft through grey schist and suspended. Lyell Comstock Mine.—Tons extracted, 4.620. No. 2 level: No. 14 stope extension rise to 98ft through lowgrade ore, and completed by holing through to No. 1 level. No. 5 level: shaft to 76ft below level through grey and quartzitic schist, carrying a fair amount of chalcopyrite. Reduction Works.—Furnace in blast during full period; 9,914 tons of refinery anodes made for current year. Concentrator. Mill operated 332 hours and treated 14,400 tons of ore, producing 1,582 tons of concentrates. Copper Refinery.—Tank house in operation throughout fortnight, 422 tons of cathode copper being produced for the period. Total for current year, 10,345 tons. MAHAKIPAWA RETURNS. [Pbk Uvitbd Prims Association.] CHRISTCHURCH. September 23. The wash-up for the week realised 40oz of alluvial gold. KING SOLOMON DEEP LEAD. [Per United Press Association.] INVERCARGILL, September 23. The wash-up at the Solomon mine for the week totalled iloz. NORTH BROKEN HILL. Tlie North Broken Hill Company has cabled to the New Zealand Stock Exchange Association that the cross-cuts on the 2,150 ft level had been extended in ore of average grade to 17ft from the footwalls of the lode. The face was still in ore.

BANKING— Bank of Australasia (cum div.) 9 17 0 Bank of N.S.W. ... 28 0 0 — Bank of N.Z 2 7 6 2 8 0 Bank of N.Z. (Long _ “ D ”) 1 8 6 Commercial Bank 0 14 11 — National Bank of New Zealand ... ... 4 2 0 Union Bank of Aimtra lia Ltd 7 16 0 — insurance— National Insur. Co. 0 14 6 N.Z. Insurance Co. ... 2 2 0 2 3 0 South British Insurance Co 2 18 3 Standard Insuv. Co. 2 7 0 — SHIPPING— P. and 0. Deferred Stock 13 0 U.S.S. Co. (pref.) ... 1 0 0 — COAL— Kaitangata Coal. 0 lOd par Westport Coal Co. ... 0 12 3 0 12 9 LOAN AND AGENCY Goldsbrough, Mort ... 1 4 6 National Mortgage (“B” Issue) 0 17 0 N.Z. Loan and Mercantile (ord.) 44 0 0 Wright, Stephenson (ord.) 0 11 0 Wright, Stephenson (pref.) 0 13 9 — MEAT PRESERVINGGear Meat Co 1 15 6 N.Z. Refrigerating (paid) 0 10 6 N.Z. Refrigerating (cont.) 0 3 8 0 3 10 South Otago Breezing 3 0 0 — MISCELLANEOUS— Australian Glass 1 18 6 1 19 6 Brown, Ewing (pref.) 0 19 0 Crystal Ice Co. 1 6 0 0 12 0 D.I.C. (ord.) — Dominion Rubber 0 5 6 — Donaghy’s Rope and Twine 1 10 0 Kaiapoi Woollen (ord.) 0 5 3 Miiburn Lime and Cement 1 6 0 17 0 M‘Lood Bros. 6 13 0 — National Electric — 0 9 0 N.Z. Drug (ex div.) N.Z. Farmers’ Fertiliser 2 17 0 2 19 0 _ 0 16 6 N.Z. Paper Mills Wilson’s (N.Z.) Cemen Woolworths’ (prof.) ... 1 1 0 1X4 1 13 0 1 13 6 1 5 0 — GASWellington _ 1 11 0 BREWERIES— N.Z. Breweries Ltd. 1 9 4 19 9 ... Dunedin Brewery 1 0 6 13 0 Dunedin Brew. Debs. 1 0 0 — MINING— Kawarnu 0 0 6 Waihi 0 16 6 0 17 3 Electrolytic Zinc (pref., cum) 1 6 0 Electrolytic Zinc (def. ord.) 0 16 7 Mount Lyoll 1 1 0 — North Broken Hill ... 3 5 0 — Mahakipawa 0 0 31 0 0 5 Kildare 0 X 3 0 16 OUarito ... 0 8 4 0 8 6 Paddy’s Point 0 5 0 0 5 3 Golden Progress — 0 19 King Solomon 0 1 9 0 1 11 Golden Point ... ... — 0 0 7 Blackwater — 0 19 6 Gillespie’s Beach 0 0 IJp 0 0 Zip Waitahu — 0 0 3d 01LTaranaki Oil 0 2 3 _ WAR BONDS. (Bonds quoted are £100 Bonds.) 1933 4£ p.c. Bonds ... — 95 5 0 1939 4£ p.c. Bonds ... 94 10 0 95 3 8 1938 4j p.c. Inscribed 94 10 0 95 2 6 1939 4-j p.c. Inscribed 94 10 0 95 5 0 1936 6a p.c. Bonds... 99 0 0 — 1936 p.c. Inscribed — 99 5 0 1937 5i p.c. Inscribed (February) 99 5 0 1937 5j p.c. Bonds (September) 99 -7 6 1937 5i p.c. Inscribed (September) - 99 5 0