THE SHARE MARKET

Evening Star, Issue 22203, 4 December 1935, Page 9

THE SHARE MARKET

DUNEDIN STOCK EXCHANGE Investment shares, which experienced a drop in prices last week, have almost recovered to normal levels, proving that there was no real reason why these securities should have depreciated. Their earning power is precisely the same as it was before the election. It is true the Labour Party is taking up severe economic problems with an entirely new policy, but the utterances of the Prime Minister-elect contain no cause for alarm. Apart from the political aspect, the general portents are favourable for the production season 1935-36. Export values are higher all round than they were a year ago, and, despite a backward spring, the Dominion’s production should be fully up to average standards. Unemployment is less than it was, and trade generally is in a healthy condition. These are the essentials to economic progress, a fact which is apt to be overlooked in the stress and excitement of a political campaign. The stocks which suffered from the advent of a Labour Government—New Zealand Banks, particularly the Reserve, Mortgage Corporation shares, and Government stocks —have all fluctuated to higher levels, and the tendency is for them to harden still further. Australian miscellaneous securities maintained a steady demand, but reported business in Broken Hill Proprietarys at 56s 6d represents a drop of Is 6d on the price last week after the payment of a dividend of Is 3d. The market for gold mining shares contiues to be distinctly dull, Big Rivers and King Solomons being the only issues to attract buyers at a premium. SALES. Reported: Bank of New Zealand, £2 9s 3d; Broken Hill Proprietary, £2 16s 6d; Woolworths (ord.), £5 17s 6d. On ’Change: National Insurance, 19s 7d; Okarito, 5s 6d.

AUCTION SALE Messrs Tamblyn, Rhodes, and Jamieson report the sale at* the upsets by auction yesterday of the two properties at Port Chalmers and one at Purakanui.

DIVIDENDS DUE Kauri Timber—s per cent. ... ... Dec. —t Austral Malay Tin—lnterim 6d per share and bonus 6d per share in sterling Dec. 8 Bank of N.Z.—lnterim, , ord., Is a share: D mortgage, 3i per share ...‘ ... Dec. I Henry Jones Co-operative—Final, Is 3d a share —, Baub Australian Gold—lnterim 4d, in sterling ... Dec, 10 National Tobacco, Napier—pref., 8 per cent., ord. 15 per cent, per annum ... ... ... ... ... Deo. 11 N.Z. loan and Mercantile Agency . Co.—Cam pref. (for year ended June 30, 1932), 5 . per cent., less English income tax Dec. 12 North Broken Hill—2s 6d a share and bonus Is a share ... ... ... Dec. 12 Waitaki Farmers' Freezing—s per’cent. ... ... ... ... ... Dec. 15 N.Z. Breweries—lnterim, 3i per cent. ... Dec. 14 Mount Lyell—Final, 2i per cent. p.a., 6d a share ... ... Dec. 16 Okarito Gold Dredging—lo per cent., 6d a share ... ... ... Dec. 17 Lampson Paragon Ltd., Sydney—B \ per cent. ... ... ... Dec. 17 Goldsbrough, Mort—lnterim, 4 per cent. p.a. ... ... ... ... Dec. 18 Tooth’s Brewery—lo per cent. ,■ , p.a. and bonus 2$ p.c Broken Hill South—ls 6d a share _ and bonus Is a share' _ Dec. 10 Placer Development—lnterim, 50 „ cents (Can.) a share Dec. 20 Bulolo Gold—lnterim, Idol, 40 _ cents (Can.) a share ... Deo. 20 Hume Steel—lnterim cum pref., at 7i per cent, per annum Dec. 23 Mossy Creek —Id per share Dec. 28 British Tobacco— 1£ p.c. Dec. 31 Morris, Hedstrom —Interim, ord., . 2i per cent. ... Dec. 31 Claude Neon Ltd., Sydney—ls per cent., payable as to Vi per cent, (and payable as to 7£ per cent., January 1) Jan. X Sulphide Corporation Ltd., London—2s per share pref., 4i _ ord. sterling, less income tax Jan.’ 15

OAMARU WOOLLEN MILLS / . ■ - • ' . DIVIDEND OUT OF CAPITAL PROFITS The report of the directors of the Oam aru Worsted and Woollen Mills Limited:, to be submitted to shareholders at the statutory meeting to be held on December 9, states: — The total number 'of shares allotted by the company is 85,000 shares of £1 each, and these shares have been issued for a cash consideration. The total amount of cash received by the company in respect of these shares Is £84,920, while £IO,OOO has been received from the Bank of New Zealand against debentures. Payments to December 1 include £85,000 ill settlement of the purchase price of the undertaking and, after payment of preliminary expenses, a balance of £2,149 6s 6d is shown.

The business of the statutory meeting will be:—(1) To discuss any matters relating to the formation of the company or arising out of the directors’ report to members. (2) To consider, arid if thought 'fit, ■ to carry the following resolution That a 4 per cent, dividend out of the; capital profits of the company be declared on the capital subscribed as at the date of possession—viz., November 18, 1935.”-

Quotations as under:— Buyers. Sellers. BANKING— £ s. d. £ s. d. New South Wales ... 33 10 0 New Zealand 2 9 0 2 9 6 Commercial 0 17 2 — Commercial (pref.) ... — 9 17 0 E.S. and A National of New 5 10 0 — Zealand — 3 13 0 Reserve ... — 6 5 0 INSURANCE—\ National ... ... -..w 0 19 6 0 19 9 South British 4 14 6 Standard SHIPPING— \ P. and 0. Deferred 3 5 0 3 10 0 Stock 1 1 3 U.S.S. Co. (pref.) ... 1 7 4 —

ftfEAT PRESERVING— N.Z. Refrigerating 9 (paid) .. 1 2 0 1 2 N.Z. Refrigerating (cent.) 0 10 7 0 10 10 Southland Frozen (paid) 3 18 0 LOAN AND AGENCYGoldsbrough, Mort .. 1 11 0 1 12 6 Mortgage Corporation National Mortgage 0 5 4 0 5 2 14 7 6 Wright, Stephenson 9 (ord.) ... — 0 18 Wright, Stephenson (pref.) ... 0 19 0 I 0 0 COAL— Kaitangata ...■ w ... 1 1 6 — Westport — 1 2 9 .Westport-Stockton (pref.) ... ... _ ... -- 0 2 8 WOOLLEN COMPANIES— Bruce (ord.) ... ... — 0 14 0 Bruce (pref.) ... ... — 1 1 6 Kaiapoi (pref.) 10 — 0 18 6 Mosgiel , 0 0 10 5 0 Oamaru ... ... ... — 1 2 %' MISCELLANEOUS— ' Broken Hill Proprietary .. 2 16 0 2 16 9 Broken Hill Proprietary (new) ... ... — 1 8 6 Brown, Ewing (ord.) ... 0 14 0 — D.I.C. (pref.) — 1 4 3 Dominion Fertiliser .. 1 3 3 1 3 9 Dominion Fertiliser Debs 106 0 0 — Dominion Rubber ... 1 7 6 Donaghy’s Rope and Twine , ... • •• 2 14 0 Dunedin Kaikorai Trams 1 18 0 — Dunedin Stock Exchange Proprietary — 2 0 0 Dunlop Perdriau Rubber 0 15 9 .— Milburn Lime and Cement ... —x,. 2 4 9 National Electric 0 12 10 0 13 6 NZ. Drug Co 3 19 0 4 0 6 N.Z. Paper Mills ... 1 6 6 — ‘ Otago Daily Times ’ — 2 11 6 Wilson’s (N.Z) s Cement ... ... 2 1 0 2 3 0 BREWERIES— New Zealand _ 2 14 3 Tooth’s ... ... — 2 15 0 AUSTRALIAN MINING Electro. Zinc (ord.) (£1) - — 1 15 0 Mount Lyell (£1) ... 1 0 9 1 1 0 Mount Morgan (5s) 1 15 6 1 16 6 GOLD MINING— Bendigo Goldlight (Is) ... — 0 0 4 Big River (Is) 0 1 9 .0 2 0 Central Shotover (Is) 0 0 Oi 0 0 3 Charleston (Is) ... ... 0 0 1 — Gillespie’s (Is) ... ... — 0 1 2 Goldfields Dredging (Is) -. ... 0 0 8i —- King Solomon, (Is) 0 3 0 0 3 7 Maori Guily (Is) — 0 1 1 Nokomai (5s) — 0 2 6 Okarito (5s) — 0 6 0 Paddy’s Point (5s) — ' 0 2 6 Sandhills (Is) ... ... — 0 0 5 Waipapa Beach (Is). — 0 1 8 Waitahu (5s) ... ... 0 2 7 —• N.Z. GOVERNMENT LOANS3£ p.c. Stock, Nov., 1938-52 102 0 0 — p.c. Stock. March, 1939-43 •— 103 0 0 3i p.c. Stock, Sept., 1939-43 ... " • •• 103 0 0 3i p.c. Stock, May, '939-52 ... 102 0 0 — 4 p.c. Bonds, 1937-40 101 10 01 4 p.c. Stock, 1937-40 101 10 0 — 4 p.c. Bonds, 1943-46 104 0 0 — 4 p.c. Stock, 1943-46 104 0 0 — 4 p.c. Bonds, 1946-49 104 5 0 — 4 p.c. Stock, 1946-49 104 5 0 — 4 p.c. Bonds, 1952-55 106 10 0 — 4 p.c. Stock, 1952-55' 106 10 0 —r UNLISTED STOCK— Quartz Mountain (5s) 0 10 0 .Woolworth’s (Sydney) “ 5 18 6