THE STOCK EXCHANGE

Evening Star, Issue 21879, 16 November 1934, Page 9

THE STOCK EXCHANGE

SALES THIS WEEK SALES ON ’CHANGE. •Miscellaneous. —Kaiapoi Woollen (ord.), 15s 6d; New Zealand Paper Mills, £1 14s 9d. Breweries.—New Zealand, £2 9s 6d (two). Gold Mining.—Nokomai, 3s sd; Bell-Hooper, 5d (four); Big River, x Is 6d; Kildare, 2s 3d; Mining House Concessions, 2id. SALES REPORTED.’ Banking.—Reserve, £6 12s 6d, £6 12s 3d, £6 12s. Insurance—National, £1 Is 9d; South British, £4 12s; New Zealand, £3 10s 3d. Shipping.—Howard Smith, 16s 6d. , '' Meat Preserving—Refrigerating (paid), £1 Os 5d (two), £1 Os 6d; Refrigerating (cont.), 10s (three). Coal.—Westport, 19s 9d. Miscellaneous.—Dominion Rubber, £1 9s 6d (two); Wilson’s Cement, £1 14s 6d, £1 14s 7d (cum div.) ; New Zealand Paper Mills, £1 14s 9d (three); Kaiapoi Wollen (ord.), 15s 8d; New Zealand Drugs, £4 Is (two); Wilson’s C'emOnt, £1 14s 7d; Woolworth’s (Sydney), £3 15s. Breweries.—New Zealand, £2 10s (two). Gold Mining—Bell-Hooper, 4d, 4id, 5d (nine); Waihi, £1 17s 9d, £1 18s 2d; Bendigo Goldlight, lOJd; Skippers, 7d; Bell-Kilgour, 2d. Unlisted Stock.—Rural Credit Bonds, £104; National Tobacco, £3 12s 6d (two); Wcre’s Trust, 4s lOd. ; '' ' ' ’ ' THIS MORNING’S BUSINESS. On ’Change.—Mining House Concessions, 2d. Reported.—Bank of New Zealand, £2 9s 7d; Refrigerating (cont.), 10s; Westport Coal, 19s 9d; Milburu Cement, £2 2s 6d (late yesterday); Timaru Brewery (cont.), 7s 9d; Mosgiel Woollen, £ll (ex div.); Golden Sands, 2s 8d; Nevis Diesel, 4fd. COMPARATIVE FIGURES

WOOL REQUIREMENTS BRADFORD PREFERS LEICESTER BREED NEW ZEALANDER’S OBSERVATIONS [Per United Press Association.] WELLINGTON, November 15. Interesting observations on the wool requirements of Bradford were made by Mr T. It. Smith, of Central Otago, on. his arrival from England to-day. ny the lonic. Mr Smith has been abroad for four and a-half years, most of the time having been spent in Argentina. One thing which struck the visitor to Bradford, said Mr Smith, was the fact that New Zealand wool, owing to the predominance of the Romney strain in the North Island, was not finding such good favour with the comber. The wool was becoming kempy, it was generally lacking in condition, and the fibre in many cases was changing. From the Bradford manufacturer's point of view a predominance of Leicester and Border Leicester would h© preferred instead of Romney. Bradford was very much afraid of Japan. Bradford could not compete with Japan in the cheaper wools Japan had collared the market for the cheap article, and if she continued as she was doing now it appeared that she was going to get more than her share of the business in the better class of textiles. Lamb from Argentina was very popular in England, added Mr Smith. The quality and the output were getting better each year. Much of the improvement was due to the introduction of the very best New Zealand sires into the large Argentine studs, both Lincoln and Corriedale. The New Zealand Lincoln was in a class by itself in Argentina, and found very great favour with the man who was running an establishment for the dual purpose of sheep and wool. The English Lmcolp was popular with the man who ~was going in for a high production, of .wool;

DAIRY PRODUCE Messrs Dalgety and. Co. have received the following cable from London, dated November 16:—The butter and cheese 1 markets are weaker. Quotations: — Danish butter, 120 s; N.Z. finest butter, 74s to 765; Australian unsalted butter, 74s to 765: salted 74s to 765; Australian G.A.Q., 72s to 735; 'Australian cheese white, not quoted: coloured, not quoted; New Zealand 'white, 525; coloured, 51s; Canadian white, 52s to 655; coloured, 62s to 655; c.i.f., not quoted. Messrs A. S. Paterson and Co. Ltd. to-day received the following cable from London:—Butter: All markets easier; Continental butter market weak; relatively high retail price checked demand Midlands, North Scotland;New Zealand finest salt butter, 765; first-grade salt butter, 755; Australian finest salt butter, 755; first-grade salt butter, 745. Cheese: White cheese, 525; coloured cheese, 51s. 'The New Zealand Loan and Mercantile Agency Company Ltd. has received ■the following cable from London, dated November 14:—Choicest New Zealand salted butter, 765, 775; cheese—white 535, coloured 525; markets slow. COMMERCIAL EXAMINATIONS Entries for the commercial ekaminations conducted by the Canterbury Chamber of Commerce total 108 this year, and the most significant feature is the concentratvci’i .tn book-keeping indicted by"the selection of subjects b,v candidates. The will be held on November 26, 27, and 28. On the first and last days they will be held at the Technical College and on the second day at Digby s Commercial. College. The detailed entries are as follows:—Shorthand 46, tywwriting 85, handwriting 23, and bookkeeping 72. The entries are representative of practically all the secondary schools of Christchurch, while, there are individual entries and some ■ from Bangiora High School.

WOOL PROSPECTS AUCKLAND GROWERS GDNFIDENT ANOTHER GOOD SEASON WOULD RESTORE PROSPERITY [Special to the ‘Stas.*] AUCKLAND, November 15. Despite the. pessimistic references to the outlook for New Zealand wool by, a German buyer at Wellington recently, the brokers and growers in the Auckland district continue to look forward confidently to sales prices at that opening dominion sale on November 27There has been a gradual improvement at the Sydney auctions, and on Monday last nearly 10,000 bales .were cleared /at IOJd per lb, while fancy, prices are reported to have been paid'at earlier sales for the best clips. Although the weekly averages in Australia have not varied a full penny pep lb, the latest figures show a rise_ or a half-penny in quite a short period.. Besides the Continent and Bradford Operators, the market tohe has beenl sharpened by the advent of the Japanese buyers, and already there is evidence of at least some German competition. ... An important aspect of the vital importance of another good season Heal in the consequential benefit to the dairy industry. A leading exporter, yesterday put it this way: “In the 1933-34 selling year, the dominion wool cheque reached £10,000,000, more than! double that of the previous season. Thai benefits spread right through the economic structure Of the country. Many, graziers were able to show- a profit fop the first time in ' years, ’ and the companies which- had been financing them! in the lean times secured some return ott the capital so tied up. This has enabled many concerns to offset substantial losses, and to proceed with capital reconstruction . plans. Trade conditions in the cities and in the country, brightened, thus hastening the return of prosperity. In addition, graziers began to move out of the dairying industry, which they had entered as a! temporary measure only.” • ■ V Another favourable wool year was needed to consolidate these gains, he stated. This did not mean that prices as high as the peak of the previous season were essential. During 1934 the' wool market showed weaker tendencies owing to Continental buying restrictions, and to the slower improvement in other commodity markets. There was now every indication that the market was again improving, and that al return to the low prices of recent years wis out of the question. Fortunately,, the New Zealand, wool was going on the market when the uncertainty of the mid-year months had been largely dispelled. The stage now reached was one where a further impetus to trade was needed, and business people were hoping that the wool season might supply that want. It was stated that the beneficial effects of the last selling season were still being felt, but they could not continue indefinitely. Another favourable season was just as necessary to the sheep farmer, who had not yet recouped the losses of the depression’ years. If he could see a sound market ahead for his clip, it was hardly likely that he would continue to carry dairy herds, just for ready cash. Given , any encouragement at all, he would return.' to his business of and fattening lambs, and this movemeht'woti|d help to check the overproduction ir?i dairying.

BUSIER FACTORIES ! EMPLOYMENT IN SYDNEY During the past twelve months therei has been a large increase in the number of hands employed in factories iri New South Wales. The Minister of Labour, Mr J. Dunningham, stated 1 recently that 200 factories in the Sydney metropolitan area now employed 62,384 persons, compared with 37,749 when the present Government tool? office two and a-half years ago.

This Morning. Buyers. Sellers. Last Week. Buyers. Sellers Approt. Price 12 Months Ago, £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. BANKING11 11 0 — 11 14 0 12 17 60 — — — 32 5 0 33 17 6 New Zealand ... ... ■ 2 9 6c 2 9 10c 2 9 0 2 7 3c Bank of New Zealand ■ , 1 13 1 14 Oc' • —: ~ 1 14 0 0 Commercial —:■ 0 16 0 ' , , .0 15 10 ' 0 17 0 Commercial Bank 8 17 (pref.) ... — —• — — 0 Commercial Bank of 17 15 Sydney -■—< —* . 1 — 0 E:S."and A. Bank — — • .5 14 0, National of New 3 10 Zealand 3 11 0 — 6 4.4 0 National Bank of 13 10 Co Australasia — ** — — National Bank of 6 12 6 Australasia (cont.) —* — 6 — 0 Reserve — 6 12 3 ■ 6 11 6 13 — Union of Australia 10 7 Ltd — 9 5 0 — 9 6 6 0 INSURANCENational 1 1 5c 1 1 11c 1 1 6c 1 1 9c 0 18 9 Now Zealand ... ... 3 9 6 — — — 6 a is 0 South British ... ... 4 11 9 — 4 10 6 4 11 3 12 Oft Standard ... ... ... 3 10 5 — 3 10 6 — 3 0 0 SHIPPINGHoward Smith ... ... — — —• 0 16 2 0 13 0 Huddart, Parker 1 11 (ord.) 1 16 0 — 6 Huddart, Parker * 0 6b (pref.) - ... — — 1 9 ’ 1 5 P. and 0. Deferred z 0 12 0b — 1 — 6 X 4 U.S.S. Co. (pref.) ... • U 7 6 1 7 6 . — .1 5 0 MEAT PRESERVINGCanterbury Meat Co. 10 10 — •— 0 Canterbury Meat Co. (pref.) ... Gear Meat Co. ... ... - 5 14 ;o - 5 12 1 12 6 0 N.Z. Refrigerating (paid) 1 0 3 1 0 7 1 0 0 — 0 19 8 N.Z. Refrigerating 0 10 0 — 0 9 10 0 10 1 0 9 9 Southland Frozen (paid) 3 15 0 3 18 0 3 15 0 3 17 6 Z: iB' ’fiT Southland Frozen (cont.) - 1 17 6 2 0 0 1 17 6 1 10 0 Southland 1 rozen 0 0 ,/ 0c 2 16 5 0 9 Oe (prof.) ...... ... South Otago Freezing 3 15 6 4 - A* - LOAN AND AGENCYs'" Dalgoty and Co, ... _ — — 9 4 0c 10 12 6 Goldsbrough, Mort ... National Mortgage ... — 1 11 6 — 1 11 6 0 1 10 2 15 0. — 3 1 u ’ 3 1 National Mortgage (“B” issue) 1 10 0 — 1 I'O 0 ~ 1 10 0b N.Z. Loan and Mer49 0 0 60 0 cantile (ord.) — — — 0 N.Z. Guarantee Corporation 0 5 5 — 0 5 4 ' — 0 8 4 Perpetual Trustees ... 6 1 0 — ”>r Wright, Stephenson 0 17 6 — — 0 u 0 Wright, Stephenson (pref.) 1 0 0 - 1 0 0 - 0 15 0b COAL— Oe 6 Kaitangata 1 ... ... 0 19 9c 1 1 1 10 0 Oc 1 1 0 19 3 0c 1 2 0 1 0 0 13 Westport-Stocklon (ord.) ... ••• >•» — 0 3 3 — 0 3 3 0 0 8 Westport-Stockton (pref.) - - » 0 4 6 0 5 0 0 3 0s MISCELLANEOUS— Associated N ews 1 5 9 — 1 5 3 — 1 18 3 British Tobacco Broken Hill Proprietary Brown, Ewing (Ord.) Brown, Ewing (pref.) Bruce Woollen Co., 2 11 Oc 1 ■T 0 211 0 18 1 1 ■ 3 0 0 1 0 0 2 0 0 13 1 1 3o 6b Os 0 13 0 — 0 12 0c 0 14 Oc 0 10 Ob Bruce Woollen Co, (pref.) ••• Colonial Sugar Co. 1 1 0 - 1 1 0c — 1 0 60 15 1 10 0s 0 0 Crystal Ica.Co D.I.C. (ord.) D.I.C, (pref.).. Dominion Fertiliser ... 1 1 6 0 0 9 1 1 8 0 1 6 1 1 0 - 0 13 1 2 0 14 0 0 6 Dominion Fertiliser Debentures Dominion Rubber ... 106 0 0 1 10 0 106 10 1 9 0 0 1 10 0 0 17 6 Uonagliy’s Rope and 2 5 Twine Dunedin-Kaikorai Trams 1 18 6 — 1 18 0 - 1 14 0b Dunlop Perdriau Rubber ... — — — - 0 18 9e Kaiapoi Woollen ord.) Kaiapoi Woollen (cont.) 0 15 3 0 16 0 0 14 11 0 16 0 0 8 0 — 0 4 10 - 0 1 6 Kaiapoi Woollen 0 16 3 (pref.) Kauri Timber — — - - 0 15 0 Milburn Lime and Cement ... 2 2 0 — 2 2 0 - 1 11 6b Mosgiel Woollen Co. — ' 27 0 0b M’Leod Bros. 0 4 — 0 8 . ' 4 0 National Electric N.Z. Drug Co 8 0 0 0 — 0 - 3 10 0 N.Z. Fanners’ Per0 16 1 7 1 8 2 5 1 0 tiliser N.Z. Newspapers ... N.Z. Paper Mills ... • Otago Daily Times ’ Regent Theatre 1 2 14. 10 6 0 ’ 1 0 15 0 19 6 1 14 2 10 3e 0 0 19 6 60 0 6 0 Smith and Smith (pref.) ... * Sun ’ Newspapers ... Wilson’s (N.Z.) Cement ... - 0 T 0 _ 0 4 0 0 16 0b 8 — 1 14 8 0 0c 0 — 1 7 0 Woolworth’s (ord.) ... 0 0 — — 1 15 Woolworths (pref.) ... Woolworth’e (Sydney) - 3 15 9 3 14 6 3 is 6 BREWERIES2 9 3 2 10 0 2 10 0 2 10 6 1 16 6 Staples’s Brewery ... Dunedin Brewery 1 8 9 1 1 11 3 10 0 1 ~8 9 1 10 0 1 6 I 4 0 0 Timnru Brewery 0 7 0 5 (cont.) 0 7 7 ■— 8 —. 6 Tooth's Brewery ... — — 2 2 4 GASWellington ... ... ... - — 2 1 0 — 1 14 0b OIL— Taranaki Oil — — — 0 2 2 Moturoa (ord.)’ — 0 4 0 — — 0 2 3b Moturoa (pref.), 0 6 0 — — 1— —

This Morning. Buyers. Sellers. £ I d. £ s. d. Last Week. Buyers. Sellers £ t. d. £ e. Approx. Price 12 Months Ago. d, £ ». d. AUSTRALIAN MINING— 1 15 0(j Electro. Zinc (pref.) — — 5— . Electrolytic Zh lu (ord.) ... ... ... ■ ~ * Mount Lyell O' 17 0 16 0 0 19 O 0 19 4 15 9 2 IS |j§ Mount Morgan — GOLD MINING— 0 16 o 0114 0 14 0 0 6W 0 0 9|b 114 ftr 0 10 Aotearoa ... ...... . "7 ,, . T , Bell-Hooper 0 P H ® ® 8 Bell-Kilgour .00 1* — Bendigo Goldlight 0 0104 0 011 Big River ... — ? it 7 | Blaokwater i , Central Shotorer ... . 0 0 8 ol 3i 0 0 9 0 1 6 0 1 Q 01 2i 0 0 10 p 1, 84 0 0 8 Charleston a i o Gillespie’s ... 0 17 O O 1U 0 1 84 ■— . 0 1 9 ol Od Golden Dawn 0 2 0 — . o 1,14 0 4 6» Golden Point “* — — Golden Progress ... — 0 0 11 0 0 11 0 2 4 0 0 34 o~i 0 1 0 0 ft’ Goldfields Dredging ... . — Glenroy Kildare "T - King Solomon 0 3 ( Lawson’s Flat ~~ 0 2 1 0 3' 6 u 0 $ o l 4a 0 3 » P o S Maerewhenua Mataki —■ o o s 0 210 - 0 211 _ $ Mining House Concessions „ r . Mount David 0 0 1° Molyneux River ~ 0 Moonlight Nelson ... 0 0 2 Nevis Diesel ... ... Nokomai ... ... 0 3 3 Okarito , 0 811 Oxenbridge •“ 1 0 0 3 0 7 3 0 0 24 0 0 44 0 3 7 0 9 4 0 0 24 01 3 0 3 3 0 8 11 0 0 34 01 5 0 3 8 0 9 4 0 0 114 0 110 0 3 Jb 0 10 0b 0 5 -0 s Paddy’s Point T c Skippers “06 Waihi 1 17 9 7 ■ 0 0 54 117 0 — 1 1 6b Waihi Grand Junc0 4 5 0 4 Ob’ tion “ Waitahu Wetherstones ... ... — Worksop ... ... ». 0 3 1 0 3 10 0 3 6 ol 0 0 6 3 0 4 U N.Z. GOVERNMENT LOANS(Bonds quoted are £100 xwnds./., 3i l 9 r St °5.. 1938 .‘l07 0 0 „ 108 0 0 — 3i 19^. StO . Ck ’.. W39 : i07 0 0 _ 108 0 0 — - 3i 19?3 C - St ° Ck ’ ,. 134 . 1 : 107 0 0 — 108 0 0 — ■ — ■ StO ? k, .. l938 .'l08 0 0 — 109 0 0 — * ' - : 0 _ 109 0 0 ■ -■ -- . — . 3i i9r.. st !?’... 1941 :io8 o o. 109 0, 0 . ** 4 ?940 B °. ndS, .. Jan :. 15 :. 103 10 0 — 10410 0 a n a Kfnck. Jan. 15, . 104 10 0 loin 103 10 0 104 5 0 — 4 p.c. Bonds, Feb, 15, 1946 ~ — ■ — 109' 0 0 4 p.c. Stock, Feb. 15, iQdfi — 109 0 0 100 0 0 . — 4 Jm. ft 0 112 15 0 _ — ■ ’ '?fe St " k -.''"’ , .. 15 ’.112 10 0 115 15 0 . 112 15 0 _ UNLISTED STOCK— Otago Farmers’ (20s paid) 0 2 0 Phcenix Company ... — 0 5 0 0 18 3' Taupo Timber . — 0 5 1 Consolidated Brick ... — 0 10 11 Maori Gully (Is paid) — 0 16 b, buyer; s, seller; c, cum div.; e, ex dir.