Commerce, Mining, & Finance

Evening Star, Issue 21656, 27 February 1934, Page 7

Commerce, Mining, & Finance

THE SHARE MARKET DUNEDIN STOCK EXCHANCE No business was transacted at the callover this morning, but four sales were reported.' including one of New Zealand Breweries at an improved figure. The market prices' generally showed little, alteration. Quotations, were more numerous in the loan and agency section. Oalgetys showed a margin of only 10s between buyers and sellers, while lOd prevented business in Goldsbrough, Morts. Waitaki Farmers were for sale at £3 10s. Meat preserving shares remained firm, (hough South Otagos produced the fir>t seller in months at £6 7s. Broken Hill proprietary showed further improvement. Crystal lees had a. better market for business. Dominion Fertiliser? were'fractionally firmer, and Dunlop T’cidriau Kubbers had a close, markel. There was a wider margin between the quotations for Okaritos,' and Upper Shotovers were in demand at, 3s. without attracting sellers: but otherwise there wore no material changes SALES. Reported.— N.Z. Breweries. £1 19» 6d; King Solomon, 4s lOd; 4 per cent. Stock (1940), £lOl 12s fid; Gillespie's Bench, 2s

N.Z. GOVERNMENT LOANS—(Bonds quoted are £IOO Bonds.) 3t p.c. Stock, 1938-

DOLLAR AND FRANC Pres* Association—By Telegraph—Copyright. LONDON. February 26. (Received February 27, at 10 n.m.) The dollar is quoted at o.OSi and the franc at 775.

AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyright, SYDNEY, February 20. On the Stock Exchange bond values were easier, but business was steady and investments firm. I Morning sales: Bonds (fours) 1908 £lO4 3s 9d, 1941 £lOl 12s Gd, 1944 £lO5 15s, 1947 £IOO 10s, 1950 £lO6 2s Gd, 1955 £IOG 3s 9d, 1955 £IOO 2s Gd, 1957 £lO6 2s Gd, 1959 £lO6 12s 6d; Tooths, 45s and 44s 9d; Anthony Hordern, 15s 9d; Broken Hill Proprietary, 47s 3d; Colonial Sugar, £64 2s Gd; Goldsbrough, Mort, 335; Howard Smith, 16s 3d; Lustre Hosiery, 22s IOJd. Afternoon sales: Bonds (fours) 1938 £lO4 Is 3d, 1941 £lO4 12s Gd, 1941 £lO5 16s 3d, 1955 £lO6, 1959 £lO6 15s, 1961 £lO7 ss; Bank of New South Wales, £34 7s Gd; Union Bank, £lO ss; Tooheys, 27s 9d; Tooths, 44s_ 9d: Associated News, 21s 3d; Associated News (pref.), 22s 6d; Broken Hill Proprietary, 475; Dunlop Perdriau, 20s 3d and 20s 1 \d; Lustre Hosiery (pref.), 28s 3d; Goldsbrough, Mort, 335; Winchcombe, Carson, 30s IJd; Bulolo Deposits, 2s 6d and 2s s.}d; Mount Morgan. 85s, 85s Gel, and 86s; New Guinea Goldfields, 7s lid; Taranaki Oil, 2s. MELBOURNE, February 26. Bonds (fours) —1938 £lO4 2s 6d, 1947 £lO6 7s 6d, 1953 £lO6 15s; Broken Hill .Proprietary’, 475; Dunlop Perdriau, 44s 6d. ' MARKET FDR SURPLUS ONIONS | Per United Press Association’.] CHRISTCHURCH, - February 26. A request that the Government should assist onion growers to find a market in Canada for their surplus produce was made to the. Minister of Industries and Commerce (Mr Masters) by a deputation of 50 growers to-day. It was stated on behalf of the growers that every year there was, a surplus production, much of which had to go to waste. This year they expected a surplus of between 1,000 'and 2,000 tons, and the growers asked Government aid in sending these away. The growers offered to provide 1,060 tons of onions, and asked the Government to guarantee the freight and sales charges; the onions to be packed and graded to the satisfaction of the Government. The Minister: That would be about £5 a ton. at,par. A second suggestion made by the growers was that the importation of onions below a certain selling price should be prohibited, and that a sliding scale of duties should be introduced. The Minister: You have a substantia! duty of £4 a. ton and embargo on Australian, with freight charges on top of that. . . In reply, it was stated that onions were imported' on orders from storekeepers at T6s to 18s per 1001 b, while better local onions were on sale at os to 7s per 1001 b. ' ‘ . . The Minister, replying, said his department was not a spending department,'but was equipped to help'industry with advice. He would, however, submit to Cabinet the representations made to him. He, thought that it onions were sent to Canada .this yeai the venture would be a success. Me advised the growers to combine and organise for 'the local market. ' ■ THE SEARCH FOR GOLD

HQKQMAI GBMPANY The gazetted “ statement of affairs ” of the Nokomai Gold Mining Company Ltd. gives the following particulars :- r Capital subscribed, £62,053 15s. Capital actually paid up in cash, £42.003 15s. Present number of shareholders, Quantity and value of gold produced during preceding year, 6980 z Tldwt, £4,234 18s 10J. Total quantity and value produced since registration, 1 2720 z 13dwt. £7,421 6s. Amount expended in connection with carrying on operations since last statement, Os Id. Total expenditure since registration, £48,847 13s od. BELL-KILGOUR REPORT The secretary of the Bell-Kilgour Gold Mining Co. Ltd. advises receipt of a report from the manager, dated February 24. reading as follows: hor the past week the main drive was advanced Bft and a cross-drive to boundary, where 9ft adjoining mine workings were reached, a little coarse gold being secured. At 6 —Oll was taken out for fair coarse gold. South of 5a timbered old workings and secured a little gold. Drove 6ft 3, and then turned south for 20ft, all in sandy wash carrying fine gold. TRADE ®F THE DOMINION IMPORT AND EXPORT RETURNS [Per United Press Association.) WELLINGTON, February 26. The following are the figures for the overseas trade of New Zealand fur January compared with the figures for January, 1933 and 1932. hi the case of imports the recorded value is given with the equivalent in New Zealand currency _ shown at the foot. In the case of the exports and the balance the figures are in terms of New Zealand currency: Excess of

[ln New Zealand currency the. value of the imports was as follows: —19-i-l, £2,859,000; 1933, £2,523,000; 1932, £2,346,000.] DIVIDENDS DUE Silverton Tramway Co. Ltd.—lnterim, 6d a share Feb. 28 Elder, Smith Ltd.—lnterim, p.c. per annum Mar. 1 Kuala Kampar— 3d a share ... Mar. 1 National Mortgage—Final, 2] p.c. (sterling) .Mar. 1 Carlton Brewery—4 p.c., half-year ended Dec. 31 Mar. 3 Huddart-Parkcr Ltd. —Final, pref., 3 p.c.; ord., 2; p.c Mar. 10 Standard Insurance. —Is 3d a share, half-year ended Dec. 31 Mar. 5 Electrolytic Zinc (pref.)—B p.c. per annum for year ended December 31 Mar. 14 Broken Hill South share Mar IS Kelburn-Karoii Tramway.—Final, 2i P-c

TRADE EXTENSIONS MINISTER'S SUGGESTION FIELD IN WEST INDIES. I Per United Press Association.! CHRISTCHURCH. February 26. A trade delegation from New Zealand should visit Jamaica and other islands of the West Indies, the Minister of Industries and Commerce, Mr Masters, suggested in an interview today. The Minister said that Jamaica was not far off the direct shipping route between New Zealand and England. The representative of the Industries and Commerce Department in Canada, Jlr J. W. Collins, has been active during the past two years in fosterng trade between New Zealand and Jamaica, and in that time a fair amout of butter and tinned meat had been sent there. With a view to getting more details and a knowledge of _ the __ requirements of Jamaica for Now Zealand’s produce, the Minister, during his visit to Canada last year, had instructed Mr Collins to make a. report on that country. The report was now to hand, and he believed that commercial men in New Zealand should take a Jive interest in the exploitation of trade with the islands of the West Indies visited by Mr Collins, particularly [Jamaica, It would be advisable, the Minister added, to make a similar survey of the trade possibilites of Barbadoes, Trinidad. and British Guiana. The import trade of this area was substantial, especially in butter, cheese, condensed 'milk, and canned meats. It might be well worth while for a trade delegation from New Zealand to visit these islands and show some initiative by following up the efforts of the Minister and the department in an endeavour to widen the markets of New Zealand overseas. POSSIBILITIES IN INDIA. Mr Masters stated that, while he was attending the World Conference he endeavoured to negotiate a reciprocal trade treaty between India and New Zealand. The matter was not yet completed, he said, but he hoped that something would come of it that would bo of benefit to the domiuon. AUSTRALIAN TRABE HUGE EXCESS OF EXPORTS ■"Australia’s trade in the six months ended December 31 resulted in exports exceeding imports, by £2-1.101,001), which was considerably more than in the preceding year’s corresponding period. The figures are compared hereunder: — . Six months ended Dec. 01, 1932. 1933. £ £ (British). (British). Exnorts 40,470,000 -53,571,000 Imports 30,954,000 29.470,000 Excess exports 9,516,000 24,101,000 In the six months wool exports were worth £32,50.0,000 in Australian currency, an increase of £14,000,000. but butter fell by £1,300,000 to £4,265,000, and wheat by £1.000,000 to £4.600,000. The surplus of exports for the full financial vear 1933-34 has been estimated at £50,000.000. if this figure is realised Australia's funds in London should increase considerably, because only £26,000,000 is now required for Government interest, and of tho remaining £24,000,000 a substantial sum will remain after other transfers abroad are met. This increase in London funds (says ‘The Australasian’) raises the question whether the exchange premium is likely to be reduced by the Commonwealth Bank. "NVhat the directors will do remains to.he seen, but it is certain that they will he guided oy the desirability for establishing a large reserve fund in London to meet interest and other payments when the inevitable had season arrives. FRUIT FOR THE CONTINENT Mr H. E. Stephens, chairman of the New Zealand Fruit Board, announced on Friday that the board had effected the sate of 210.000 cases to the Continent for this season, in the proportion of 40 per cent. Stunners. 30 per cent. Dunns. 20 per cent. Jonathans, and 10 per cent, other varieties. Mr Stephens said the exact price could not yet be stated, as minor adjustments were being made, hut it was a satisfactory c.i.L price in English sterling, and the money would bo put up before tbc I'vuit left New Zealand. A circular with fuller details of the sale and the allotments would ‘he distributed to growers shortly. The first shipment for the Continent would bo loaded on about March 13.

2d. Quotations as under : — Buyers. Sells rs. £ s. d. £ S. d. BANKING- . Bank of New South 0 0 Wales 33 15 34 10 Bank of New Zealand — 2 9 5 Bank of New Zealand (Long ‘‘ D ”) Commercial Bank ... 1 12 0 17 9 5 0 17 6 E.S. and A. Bank 5 17 0 National Bank of. New 5 0 Zealand , .... 4 INSURANCE— National Insur. Co. — 0 18 11 New Zealand Insur,6 ance Co. 2 15 — South British Insur0 ance Co ••• 1 3 15 Standard Insur. Co. '3 0 SHIPPING— Huddart, Parker (pref.) ...' ... ... 1 4 0 — P. and 0. Deferred ■ 'Stock ■ ■ ' ••• — i 3 6 U.S,S. Co.' (pref.) ... 1 5 0 COAL— • Kaitaugata Coal i 1 7 Westport Coal Co. ... 0 14 10 U 15 2 Westport-Stockton ‘(ord.) 0 1 0 LOAN AND AGENCYDalgety and Co. ... 10 5 0 10 15 0 Goldsbrough, Mort ... 1 12 6 1 13 4 National Mortgage ... '— 5 4 6 N.Z. Loan and r Mer57 0 cantile (ord;) 0- — N.Z. Guarantee Corn. 0 5 11 — Trustees. Executors, and. 0 Agency 2 10 — Wright, Stephenson (ord.) ... 0 17 6 — Wright, Stephenson (pref.) 0 17 6 0 18 4 Waitaki Farmers — 3 10 0 EAT PRESERVING — N,Z. Refrigerating 0 (cont.) ... — 8 6 , Southland Frozen Meat 12 ' (paid) ... 3 9 0 3 6 Southland Frozen Meat 1 16 0 (cont.) — 0 South Otago Freezing 6 2 6 7 0 MISCELLANEOUS— British Tobacco, 1 17 9 Broken Hill Prop. 2 5 6 2 7 6 Brown, Ewing (ord.) 0 19 6 Brown, Ewing 0 (pref.) 1 0 0 1 2 Bruce .Woollen Co. 0 (ord.) ... — U 11 Bruce Woollen Co. (pref.) Crystal Ice Co. 0 19 1 15 C 0 1 19 0 D.i.c. (ord.) 0 14 6 — D.I.C. (pref.) Dominion Fertiliser ... 1 2 0 16 9 3 0 16 11 Dominion Fertiliser Debentures 100 10 0 — Dominion Rubber — 1 0 0 Dunlop Perdriau 0 0 0 Rubber ... 1 1 6 Electrolytic Zinc (def. ord.) X 7 0 1 7 9 Kaiapoi Woollen (ord.) ... 0 10 6 Mosgiel Woollen Co. 9 10 0 — M‘Leod Bros 28 U 0 — Mount Lyell — 1 4 U • National Electric — 0 b u N.Z. Drug Co. — 3 lb 6 ‘ Otago Daily Times ’ 2 6 6 — Regent Theatre — 1 0 6 Wilson’s (N.Z.) Cement 1 5 9 BREWERIES— N.Z. Breweries 1 19 3 2 0 0 Dunedin Brewery 1 40 “ OLLMoturoa (ord.) — 0 4 0 Moturoa (pref.) — 0 4 0 M IN 1NG— Waihi 1 10 0 1 11 0 Waihi Grand Junction — 0 5 1 Mahakipawa Okarito ... 0 9 9 0 0 0 10 6 Paddy’s Point 0 2 6 0 3 6 New Cornish Point ... — 0 1 Golden Progress — 0 •1 e King Solomon 0 4 9 0 4 114 Golden Point 0 0 1 0 U Gillespie’s Beach 0 2 1 0 2 3 Waitahu 0 4 6 0 5 2 Big River — 0 1 0 Mount David — 0 2 0 Ndkomai 0 1 5 0 1 10 Fresh ford , 0 0 1 0 0 2 Upper Shotover 0 5 0 n — Central Shotover — 1 0 Bell-Kilgour ... ... — 9 6 0 u yj; Bell-Hooper Oxenbridge ... 0 0 0 0 0 0 u 0 ii 9 Bendigo Goldlight ... — 0 U Nevis Diesel ... 0 — 0 1 u Wetherstones 1 6 0 3 ! 6 Charleston — 0 9 Charleston (rights) par — Addison’s Flat 0 z 2 Glenroy 0 0 51 0 — 10 Goldfields Dredging 0 0 7 0 Moonlight Nelson Creek 0 0 —

1945 101 15 0 34 p.c. Stock, 19391943 . ... 101 15 0 34 p.c. Stock. 19411943 . .. 101 15 0 34 p.c. , Stock, 19381952 . ... 101 10 0 3* p.c. Stock. 1939- . 1952 . ... 101 10 0 34 p.c. Stock, 1941*1952 101 10 0 ♦ p.c. Bonds. Jar 1. 15, 1940 . ... 101 10 0 — 4 p.c. Stock, Jan . 15. 1940 ... . ... 101 10 0 101 17 6 4 P.C. Bonds. April 15, . 1949 . ... 102 0 0 — * l P 9 C 49 StOCk '.. APnl 102 0 0 - 4 p.c. Bondi. June 15. _ 1955 . ... lOl 15 0 t n.o. Stock. June 15. 1955 . ... 101 15 0 —

January. Exports. £ Imports. £ exports. £ 1954 ... 5,080,558 2,331,215 2,221,000 1955 ... 4,000,878 2,061,121 1,478,000 1932 ... 3,213,489 2,163,306 868,000