THE SHARE MARKET

Evening Star, Issue 21725, 21 May 1934, Page 7

THE SHARE MARKET

DUHEDIN STOCK EXCHAN6E Very liltle business was recorded this 'morning mid no sales were effected on 'Change.' After the call Refrigerating contributing , shares were sold for 8s 6d, and New Zealand Breweries changed hands at 425. Mahakipawas had a reported sale at the very much weakened price of 9d. and on the call-over these shares ~ weakened still further. In the banking section New Zealand had buv-crs ,but no sellers. National of New. Zealands eamo closer to business, arid there was a buyer of New South Wales shares. Further increases wore shown in thu buying quotes for insurance shares, but Standards provided the only seller, at a figure 100 high for immediate business. ■ _ ; There, was not much change hi. (ho mis-. cellaneous section, which provided a strong | buying list. • '-:'•'. I , Investors appear t.o have lost interest in gold raining shares, and severs; 1 of the ,1s per share-companies produced v.cakene'l '■'sellers and no buyers. ■ Gillespie's Beach shares appear, steady and Kildares ;:io alss firm. Okarito* cased to sellers at 8s 6d with no offer over 8s 2d following . the announcement of last week's wash-up. ; There was the usual preponderance »>f , buyers for Government I,uans. .' " '" ' SALES. . : Reported.—Mahakipawa, 9d. Reported After Call. —N.Z. Refrigerating, /cont,), 8s 6d; N.Z. Breweries, £2 2s.

UIV ID ENDS DUE. N.Z. Paper .Mills—4 p.c., making 7 p.c. pen annum ... ..1- ... To-day' Donaeby’s Rope—Final, Is 3d snare To-day Wright, Stephenson—Final, 3 p.c. on old. shares ... - May 23 Bank of N.S.W.—Quarterly, Ss ... May 30 National Bank Australasia—halfyearly. final, 5 p.c. per annum May 30 Farmers’ Trading—Final, pref.. V p.c. per annum (less 20 p.c.) ‘ May 31 Henry Jones—lnterim, 6d a share June 1 Dominion Fertiliser—Final, 7 l-5d share, 3 p.c June 2 Wilson’s Cement—Final, 6d per share June 6 Broken Hill South—ls 6d a share, payable in Melbourne June 15 Bank of N.Z.— final, 5 per cent., making 10 p.c. Cor the year’... June 15 •N.Z. Breweries—Final, 31 p.c,, half-year July —-. THE SEARCH FOR GOLD DEII’HeSPER OURH . ... Tim 8011-Hooper (Cromwell) return for last week amounted to 12o;; 17dwt 22gr. ; MAHAKIPAWA RETURN The return from the Mahakipawa mine last week' totalled 370 z; WORKSOP EXTENDED DREDGE The contractors building: the new dredge for the Worksop Extended Company report that good progress is being made with the work. The engine has now been assembled, and it was Imped to have a trial run.on Saturday. GLENROY OPERATIONS ' Giving to_the resignation of Mr Gregg it few days*beforc ho took up his duties as mine manager it was necessary to make other arrangements, and the directors have now appointed Mr A. C. Buck land to the. position of mine manager. Mr .Bucklaud expects to start before the end of this month,- Two directors, Messrs Evans and Wiggins, visited the company’s (property last week, and both are ; pleased with the progress ot the race, ttniels,' and pipe line, and thoroughly satisfied with the work the various contractors are doing. In view of the progress made to date it is hoped that the bulk of the work will be completed towards the en'd of .lime. MAEREWHENUA FIELDS The mine manager of the Maerewliemia. Goldfields Development Com..pany s reports that the pulsators are treating the tailings satisfactorily, and as, a result of the good .prospects of concentrates from the machines it lias been decided to put all the tailings through them. This will enable the whole of the plant to be tested before sluicing on virgin ground is.commenced, 'and• .will also recover gold now pasting over the sluice boxes. BULOLD, DREDGING . ' lMr ‘ Fred D. Dunn, attorney for '(Jlutha Development, advises of the receipt . of the following cable from _ the Sydney office of the Bulolo Gold Dredging Company and Placer Development Ltd.:—“ Bulolo Gold Dredging Ltd. has declared a second interim dividend of GO cents (Canadian) per-share,'pay-able to shareholders on • the records at the close of business on Juno 4. The Canadian absentee tax of 5 per cent, is to be 'deducted from non-residents of Canada. Placer Development Ltd. has •declared an interim dividend of Idol 20 cents, payable to shareholders on thq records on June 4.’’ NEW ZEALAND BREWERIES % DIVIDEND RECOMMENDED [Pkk United Press Association.] WELLINGTON, May 20. , The directors of New Zealand Breweries will recommend to the annua) meeting in July the payment of a dividend of 3J- per cent, for the six months ended March 81, making 7 per cent, for tiie year. ' HIDES MARKET .Press Association —By Telegraph—Copyright. LONDON, May 19. Hides.—Meat works, dry salted,: Queensland, 351 b to 451 b, Gd; 801 b to 401 b, 5Jd; 251 b to 351 b, ogd; 2011) to 801 b, New South Wales, ojd, s|d, SRI, 5Jd. Wet salted; Queensland, 501 b to GOlb. 4ad; 401 b to 501 b, Icl: New South Wales, Ifd, 4id; Victorian abattoirs, 4Jd, 4d. SYDNEY STOCK EXCHANGE Press Association—By Telegraph—Copyright. SYDNEY, May 19. The sales on Exchange were:— Bonds (fours)—l933, £lO7 Ss 9d; 19-11, £lO6 7s Gd; 1944, £lO7 10s; National Bank (£5 paid), £6 10s; Bank of New South Wales, £32: Tooths, 45s Gd; Anthony Hordern, los 9d: Associated News, 24s Gd (pref., 24s lOjcl).

METAL MARKET Press Association—By Telegraph—Copyright. LONDON, May 20. The following are the official metal quotations; Copper.—Standard. £32 17s Cd-. per ton; forward, £33 3s 1-Jd. Electrolytic. Spot, £3G; forward, £3O ss. Wire bars, £3O ss. Lead.—Spot, £lO J7s Gd;' forward, £J 1 3s 9d. Spelter.—Spot, £l4 12s Gd; forward, £l4 17s Gd.' Tin.—Spot, £232 7s Gd; forward, £22? 7s Gd. Pig iron.—Home trade, £3 7s Cd; export, £3 2s Gd.. Antimony.—British, £42 10s; foreign, £26 los. Silver.—Standard, 19 11-16 d per oz; fine, 20|d. Molybdenite, £1 16s per unit. Wolfram, £2 6s. COTTON, RUBBER, ETC. Press Association—By Telegraph—Copyright. LONDON, May 19. Friday’s closing prices were as follow: 'Cotton. I —Spot, G.23d per lb; June, 5.97 d. ■Rubber. Para, Gd: plantation smoked, G 3-10 d. Jute.—June-July, £ls 2s Gd. Copra.—Juuc-J uly South Sea, £7 15s; smoked, £0 17s Gd; plantation Rabaul, £8 12s Gd. Linseed oil, £23 10s. Turpentine, 47s 6d. COLONIAL, MUTUAL ASSURANCE The resident secretary for New Zealand of the Colonial Mutual Life Assurance Society Limited has received cabled advice that at the annual meeting held at its principal office in Melbourne on tiie 16th inst. the reports and balancesheets tor the year ended December 31, 1933, were unanimously adopted. These show that in the ordinary department a total of £7,366,776 of new business was written—a record for the society. The actual - ;'I investigation disclosed a surplus of £434,769 in the ordinary department, and the rate of bonus declared was increased in comparison with’that for the previous year. A sum of £156,500 was added to the contingency reserve fund. Tiie rate of interest yielded on the funds was. £4 17s 4d per cent., or, after making allowance tor income rax, £4 3s 8d per cent. In the industrial department the sums assured on new business written were substantially over the previous year's figures, and amounted to £1,829,780. The previous high rate of bonus was maintained, and the contingency reserve fund remains at £42,000. An expansion of business in .the accident and sickness department was also recorded, and tiie premium income amounted to £51,962. .The reserves were considerably increased, and a bonus of £2 per cent..permanent addition to all benefits contracted for was declared. ECONOMIC AUSTRALIA OUTLOOK FOR SLA*GK PERIOD In taking an economic survey of Australia toxlay the National Bank of Australasia remarks :- “Low prices of wheat and butter, the heavy unemployment, and certain associated difficulties indicate that the improvement over the past twelve months jn trade and finance may not be 1 idly hold during the coming months.” “ The season's wool clip is nearlv all sold.” “Wheat and butter are both tonpriced in what appears to bo lifeless markets.” “ The favourable effects of the pronounced rise in the price of wool have now spread- widely throughout the community.” “ Fortunately, the rise in prices of frozen iamb and mutton is helpful to them (wool growers) as well as to a host of mixed farmers.” “Already the acreage of wheat sown has declined by 4,000,000 acres and a further decrease is expected for the coining season.” ■ “Some limit has to’be placed upon Hie amounts advanced by Governments or otherwise provided by the'community for the purpose of assisting unpayable production of wheat ’which, the world at present docs not appear able to use.” • ■ In Victoria, “secondary industries in general continue to report progress, textile mills and clothing factories ai;e kept busy with complaint of slow deliveries by some sections of the distributing trade. Suppliers of building material are working to capacity, and employing a larger number of hands than at any time during the past four years. Furniture and housoTiokl equipment makers and distributors report increased outputs and buying demand. House and shop rentals are moving upward, witli tenants experiencing difficulty in obtaining suitable premises.” Jn New South Wales “ a stronger tone is in evidence in the real estate market, with inquiries for all classes of properties, though most of the sales are of moderate-sized homes and investments. In good-class suburbs few houses are available for letting. The building trade is more active than during the earlier portion of the previous two years, as indicated by the value of permits to erect new buildings and additions. . . . Leading city architects report many important contracts placed during the past month, including all classes of buildings, the largest number of them being residential. New administrative offices for the Railway Department are being constructed at an estimated cost of- over £250,000. To some extent increased building Activity is duo to the Government’s borne building scheme.”

Quotations as under: Buyers. Sellers. £ S. • L £ 8. d. BANKING— Bank of Australasia ■ — 12 5 0 Rank of N.S.W. ’ ... 32 0 0 Bank of Nc,w Zealand 2 10 6 — E.Ss.' and’-A. Bank ... : 5 9 0 National Bank of ■New Zen land 4 i 0 4 3 o , Union 'Bank of Augtralia Ltd. • ... ... — 10 3 0 INSURANCE-- ■ National Inaui'. Co. 1 0 0 — N.Z. lUaUV2TU:i; Co. 3 3 6 — Standard Insur. Co. 3 3 0 3 6 n 8HJ PPING--Huddurt, Parker (pref.) ’ ... 1 T) n — V-S.S. Co. \ ... 1 6 — COAL - ■ ■' Kaitarigata Coal 1 . 0 0 : i ■ 1 0 AVcstporl Coal Co. ... 0-16 3 Wcstport-Stoeklon (orS.t ... 0 2 0 , Westport-Storktou ., (pref.) ... ... ... 0’ 2 11 ,0 .3 3 LOAN AND AGENCY— , National Mortgage • ... — 3 ' 4 : 0 Nations! Mortgage , ■ (" B ” Issue) 1 10 0 — N.Z. Guarantee Cor p. 0 4 1 — Trustee:;, Executors. • ' and Agencv ... * ... 3 0 0 — ■ Wright. Stephenson . (ord.) ' ... ... ... 0 18 6 — Wright. Stephenson (pref.) , : ... 1 1 . 0 1 0 0 MEAT PRESERVINGN.Z,: Refrigerating • 0 18 0 ;; N.S. RefrigcAting ■ (a.nt.i ...: ... ... 1) 8 5 0 8 7 Southland Frozen Meat . . (paid). . ... • 3 5 ■6 3 6 6 : Southland Frozen . Men. t -• 6,.rr -3 S •6.,: 3 '.6 MtrA LLLANKOUSAssociated News • ... 1 4 3 T 5 5 Bi-oV'n.- Ewing , (pref.) 1 0 6 . T“ Bniec WooIUu Co. (pref.) '1 O' ■9 — Ci valal -Ice Co. .... .... 1.15 n 2 0 0 Idle. (pref.V 1 2 6; 1 5 6 Dominion Fertiliser . Debentures .. - . 102 0 0 ; , — Dbminion ■ Rubber ... — V 1 5 9 Dunedin-Kaikorai Trains - ... ... ... . 1 14 0 ■ — Dunedin Stock Ex- ' change Proprictark — 2 7 0 Electrolytic Zinc 0 .fdclV ovd.) ,1 6 — Kaiapoi Woollen . 0 (ord.) ' . 0 9 : 6 0 10 Kaiapoi Woollen (pref.) ... ... 0 17 9 0 19 0 Mosgiel Woollen Co. 10 0 0 • — Mount' Lvc!l ... ... 1 0 9 1 1 6 N.Z. Drug Co 3 16 6 — - N.Z. Malay Rubber (pref.) . 1 0 3 — N.Z. Paper Mills ... 1 10 3 11 0 ‘ Otago Daily Times * Kegcnt Theatre 2 6 0 — 0 18 6 1 0 6 Smith and Smith f . (pref.) V Wilson’s (N.Z.) 0 17 0 Cement .1 7 8 — BREWERIESN.Z. Breweries ... ... 2 2 0 2 2 3 Dunedin Brewery • 1 5 0 ,1 7 6 Timani Brewery tlOs paid) .. ... ... 0, , 8 0 GAS— Christchurch 1^ 9 6 — OIL— Moluroa (ord.) . ... — 0 4 3 GOLD MINING— Aotearoa ... ■ — 0 0 8 Bell-Hooper • — 0 0 9 Beli-Kilgour ... ... 0 0 34. 0 0 4 Bendigo Goldlighi ... • 0 0 6 0 0 74 Blackwater ■ 1 12 0 1 14 0 Brian Boru — 0 1 10 . Charleston — 0 1 6 Gillespie’s ' ... Golden Point ..1 0 1 9 0 2 0 — 0 0 b Goldcu Progress .. ... — 0 X 6 ‘Golden Sands .... — 0 3 3 GoldCclds Dredging .0 0 64 Kildare ‘ 0 1 10 0 2 2 King Solomon : — 0 4 3 Lawson’s Flat ... ... — 0 0 6 „ Maerewhernia" — 0 0 10 Mahakipawa ... ... 0 0 7 0 0 84 Mining House 0 044 0 0 6 jCoouligbt-Nelicm , Creep' 1 — 0 0 9 Nevis Diesel ...• ... ■ 0 0 4 0. 0 5 New Cornish Point (eonfc.) . ... — 0 0 5 New Cornish Point (paid) ... —■ 0 .0 11 Nokomai — 0 3 2 Okari to 0 8 2 0 8 6 Oxeiibridge ... — 0 1 0 Paddy’s Point — 0 3 0 Skippers 0 0 91 0 0 11 Waitahu ... ..., “ 0 4 9 M.Z: GOVERNMENT LOANS(Bonds quoted are £100 Bonds.) 5i p.e. Stock. 19381943 ... ... 104 0 0 p.c. Stock, 19391943 104 0 0 34 p.e. Stock. 19411943 ‘ 104 0 0 34 p.c Stock, 19381952 ; 103 10 0 . 34 • p.c. Stock. 193#1952 ... 103 10 0 ij p.c. Stock. 19411952 : :.. 103 10 0 — 4 p.c. Bonds. Jan 15, i940 ... .... 105 0 0 — 4 p.e. Stock. Jan. 15, 1940 ... 105 0 0 4 p.c. Bonds, Feb 15, 1946 105 0 0 — •4 p.c. Stock, Feb. 15. 1946 .; 105, 0 0 — 4 p.c: Bonds. April 15 1949 105 0 0 4 p.c Stock, April IB, 1319 ... ... V5 0 0 — 4 p.c. Ronds. June 15. 1955 107 0 0 4 p.c Stock, Just 15. 1955 .» ... 107 0 0 —