Commerce, Mining, & Finance

Evening Star, Issue 22247, 27 January 1936, Page 7

Commerce, Mining, & Finance

LONDON MEAT MARKET

Press Association—By Telegraph—Copyright

LONDON - , January 25. New Zealand Sheep.—Canterbury and North Island selected cross-bred wethers and maiden ewes; Under 481 b, 5Jd per lb; 48-561 b, s:lc>; 57-641 b, 4Jd; 65-721 b, 4Jd. Ew.es : Under 481 b, 3id ; 48-641 b, 3d;- 65-7211), 2Jd. North Island; 48-561 b, sid; 57-641 b, 4Jd; G5-721b, 4|d. Australian Sheep.—First quality cross-bred and/or merino wethers: 48-641 b. 3Jd. Second quality: 30-551 b, 3Jd. Ewes: 30-551 b, 3/d. Argentine Sheep.—First quality cross-bred wethers: 48-641 b, 4Jd; 65-721 b, 4d.

Argentine Lambs. —First quality: 301 b and under, 6Jd; 37-421 b, 6-Jd. Second quality: Average about 281 b, 63d. Patagonian Lambs.—First quality: 361 b and under, 6Jd. Second quality: Average about 301 b, 6*d. New Zealand Lambs.—Selected North Island, including Downs: 43-5011), 7|d. Second quality: Average about 301 b, 7|d. Other North IslandFirst quality: 361 b and under, 7|d; 37-421 b. 73d. Second quality: Average about 31 lb, 7jd. Australian Lambs.—Victorian : First quality—36lb and under 7d, 37-421 b 6Jd; second quality—36lb and under, 6|d. Other States: First quality—3olb and under 6|d, 37-4211) 6Jd; second quality—36lb and under. 6£d. All States: Third quality—36lb and under, 6R New Zealand Frozen Beef. —Ox fores (145-2101 b), 2|d; ox hinds (145-2101 b), 3Jd. Australian Frozen Beef. —Ox crops (145-2101 b), 2|d; ox hinds (145-2101 b), 4d. New Zealand Chilled. —Hinds, 5d ; fores, 2Jd, _ Australian Chilled.—Hinds (1452101 b), sd; crops (145-2101 b), 3d. Union of South Africa Chilled. — Hinds, oid; fores, 2£d. . Southern Rhodesia Chilled.—Hinds, 4|d; fores, 2|d. Argentine Chilled Beef.—Ox fores n45-210Ib), 3|d; ox hinds (145-2101 b), 53-d. Uruguayan Chilled. —Hinds, 5Jd ; fores, 3Jd. . New Zealand Pigs.—First quality: 60-801 b, 7d; 81-100Ib, 6id ; 101-1201 b, 6d. Australian Pigs,—First quality: 60-801 b, 7d; 81-1001 b. 6id; 101-1201 b, 6d. AMALGAMATION DECIDED AUSTRALIAN MUSIC FIRMS Following the adoption of certain resolutions at an extraordinary meeting of Nicholson and Company Limited, music warehousemen, the business of Allan and Company Proprietary Limited, of Melbourne, also music warehousemen, will amalgamate with the former company under the stylo_ of Nicholson’s Limited, with a nominal capital of £IOO,OOO in 20.000 A preference shares, 75,000 B preference shares, and 5,000 shares of £1 each. The amalgamation will not affect Allan and Company’s Melbourne business, but will enable the new Sydney company to participate in both wholesale and retail music trade. The new company will take over the goodwill of Allan and Company Proprietary Limited’s Sydney branch, which covers New South Wales, Queensland, and New Zealand, including substantial trading rights and concessions.

SOVIET COTTON DELIVERIES TREBLED By October IS 60.7 per cent, of the cotton harvest and plan of delivery had been carried through in the U.S.S.R. This is treble the amount at this time last year. The absolute increase between 1934 and 1935 is more striking —920,000 tons delivered this year, as against 352,000 tons last year (states a Soviet news bulletin). The success is directly traceable to the strengthening of the'collective farms and the enthusiasm ot the collective farmers, which enabled the plans to be outstripped. Every encouragement has been given by the Soviet Government to increased harvests by its decree trebling the price paid and providing loans and taxes for those farms which increased their acreage. Improved technique has also played an important part in producing bumper harvests. Special attention has been paid this year to intensive cultivation and irrigation.

FOREIGN EXCHANGE ON NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following rates (to-day) for purchase and sales of foreign exchanges (all rates subject to alteration without notice) :

THE SEARCH FOR GOLD MOSSY CREEK DREDGE [Per United Press Association.) GREYMOUTH, January 26. The Mossy Creek dredge return was 40oz 12dwt from 12,379 yards in 115 hours. Owing to the continued dry weather work has been considerably hampered by the small amount of water available. ROSS FLAT CLAIMS [Per United Press Association.! GREYMOUTH. January 26. It is understood that an Australian mining company has made arangements with the claim-holders of Ross Flat to undertake boring operations with the object of testing the area both in the intermediate and lower levels, and intends to exercise an option if tho prospects arc equal to expectations. GILLESPIE'S BEACH DREDGE The secretary of Gillespie’s Beach Gold Dredging Company Ltd. (Mr F. R. Thompson) reports that the washup for the week ended January 24 was 48oz 18dwt for 131 hours’ dredging. OKARITO RETURN Messrs W. A. Mitson and Co., secretaries of the Okarito Five Mile Beach Gold Dredging Company Ltd., report that the wash-up for the week ended January 25, 1936, was 28oz lldwt for 121 hours’ dredging. FOUR-WEEKLY RETURN. ■ The following report relates to the four weeks from December 1, 1935, to December 28, 1935:—Total gold won, 114 oz 7dwt; total time worked, 373 hours; total non-working time, 203 hours (holidays); total yardage treated. 20,085yd5, an average of 54 cubic yards per hour; average value of ground on basis of gold worth £4 per ounce), 5.4 d per cubic yard.' SYDNEY STOCK EXCHANGE Pros* Association—By Telegraph—Copyright SYDNEY, January 25. # The following sales were made this morning: —

THE SHARE MARKET

DUNEDIN STOCK EXCHANGE The usual quiet Monday call was experienced on the Stock Exchange this morning, the only reported sale being National Banks, at £3 11s. In the hanking section, there was an improved inquiry for New Zealand’s, and all round a much brighter tone was noticeable. As was the case at Saturday’s call, insurances were practically neglected. lu the meat preserving section, Befrigerating (cent.) shares, which had a reported sale at 10s lOd at the last call, improved a Id. The miscellaneous section was active, Dominion Fertilisers being especially promising. There was little change in the position of tiio mining section, though Mount Lyells tended to ease somewhat. Government stocks were again quiet and unchanged. Sales reported: New Zealand Breweries (late Saturday (, £2 13s; National Bank, £3 11s. Quotations as under:—

DIVIDENDS DUE National Tobacco —Pref., 8 per cent., ord. 15 per cent. Jan. 31 Smith and Smith Ltd.—lnterim 2f per cent, on preference Jan. 31 Commercial Bank Half-yearly, pref. at 4 per cent, per annum, and ord. at 5 per cent. per annum Feb. 7 Kuala Kampar Tin—ls per share Feb. ?8 Broken Hill South Jubilee bonus, 2s 6d a share Mar.

COTTON. RUBBER, ETC. P: ess Association—By Telegraph—Copyright LONDON, January 25. Friday’s closing prices ivere as follows : Cotton : Spot, 6.17 d per lb; February, 5.94 d. Rubber: Para, 7d; plantation smoked, 7d. Jute : January-February, £l9 15s. Copra: February-Maroh South Sea, £l4 12s 6d; smoked, £l3 12s 6d; plantation Rabaul, £ls 15s. Linseed oil, £29 10s. Turpentine, 44s 3d. REGISTRATION OF COMPANIES Tho ‘ Mercantile Gazette ’ reports the registration of tho following companies :

Criffel Land Co. Ltd.—Registered as a private company December 20. 1935. Office: National Bank Buildings, Helmore terrace, Cromwell. Capital: £I.OOO into 1,000 shares of £1 each. Subscribers : Pembroke—G. L. Morris 999, G. A. Morris 1. Objects: To acquire from 6. A. Morris freehold run 512, together with all stock, plant, implements. and chattels; to acquire and deal in property as the company may think fit.

Fulton Hogan Ltd.—Registered as a private company December 30. 1935. Office: Office of R. S. M. Sinclair, public accountant, Princes street. Dunedin. Capital: £IO,OOO, into 10,000 shares of £1 each. Subscribers: Dunedin—J. H. Fulton 5,715, R. Hogan 4,285. Objects: To carry on in New Zealand or elsewhere the business of practical and consulting engineers and contractors.

METAL MARKET

Press Association—By Telegraph—Copyright

LONDON, January 24. The following are the official metal quotations:—

Copper: Spot, £34 18s 9d per ton; forward, £35 7s 6d. ' ■ ■ Electrolytic: Spot, £39 os; forward, £39 10s. Wire bars, £39 10s. Lead: Spot, £ls 16s 3d; forward, £ls 17s 6d.

Spelter: Spot, £l4 15s; forward, £ls. Tin: Spot, £203; forward, £196 12s 6d.

Pig Iron: Home trade, £3 10s; export, £3 Is 6d.

Antimony: British, £72 10s; foreign, £46'lss.

Molybdenite, £1 14s 6d per unit; Wolfram, £l 15s 6d. Silver: Standard, 192 d per oz ; fine, 21 5-16 d.

FINANCIAL. CAPITAL TOR BUSINESS EXTENSION, ETC. A Leading, Soundly-established Brokerage House with a Dominion organisation, the Principals of which have successfully floated fourteen Companies, with an aggregate capital of £200,000, will CONSIDER PROPOSALS REQUIRING FINANCE, large or small. Send particulars in confidence of any prospects desiring capital either by way of new issues or reconstruction purposes. The sympathetic attitude of the Government towards Secondary Industries makes this the right time for business extension. BROKER, Care J. Ilott Ltd., Advertising Agents, P.O. Box 1,491, WELLINGTON. WE LEND MONEY On all Classes of (securities. Including— Furniture, Pianos, Motor Cars, Shares, etc. Interests in Wills Purchased and Mortgages Discounted. SECURITY FINANCE CO. LTD., Security Buildings, Stuart street, Dunedin P.O. Box 671. Phone 12-844.

Buying. Selling. London— £100 stg. N.Z . 'r.T. £124 £124 10/ O.D. £123 10 I £124 8/9 Australia— £A to £100. N.Z . T.T. £101 £100 10/ Fiji£F to £100 N.Z T.T. £90 7/6 £89 New York— Dollar to £1 N.Z ... T.T. 4.04* 4.01 O.D. 4.06* 4.014 Montreal— Dollar to £1 N.Z ... T.T. 4.03 3.99* O.D. 4.04* 4.00 France,— Francs to £1 N.Z ... T.T. 60.87 60.04 O.D. 61.32 60,08 Noumea— Francs to £1 N.Z ... T.T. 62.67 58.67 O.D. 63.12 58.75 Papeete— Francs to £1 N.Z ... T.T. 62.67 ' 58.82 O.D. 63.12 58.88 Belgium— Belgas to £1 N.Z ... T.T. — 25.418 O.D. — 23.429 Germany— Keiclimarks to £1 N.Z ... T.T. — 9.813 O.D. .— 9.818 Switzerland— Francs to £1 N.Z ... T.T. 12.413 12.143 O.D. 12.518 12.148 Holland— Florins to £1 N.Z ... T.T. 5.959 5.809 O.D. 6.019 5.813 J ava— Florins to £1 n;z. ... ... ... T.T. 5.941 5.781 O.D. 6.001 5.785 Japan— N.Z. pence to 1 yen ... T.T. — m O.D. — 17 39-64 Shanghai— N.Z. pence to 1 dollar ... T.T. 17 5-16 18 11-16 O.D. 17* 18 43-64 India and Cevlon— N.Z. pence to 1 rupee ... ... T.T. 22 5-32 22 29-32 O.D. 22 1-16 22 57-64 Hongkong— N.Z. pence to 1 dollar ... T.T. 18 13-16 20 9-16 O.D. 18 23-32 20 17-32 Singapore— N.Z. pence to 1 dollar ... ... T.T. VI 35 7-16 O.D. 34 3-16 35 27-64 Sweden— Kroner to £1 N.Z ... T.T. 15.785 15.490 O.D. 15.845 15.500 Norway— Kroner to £1 N.Z ... T.T. 16.184 15.894 O.D. 16.244 15.904 Denmark — Kroner to £1 N.Z ... T.T. 18.203 17.893 O.D. 18.253 17.903 Austria — Schillings to £1 N.Z. ... T.T. — 20.77 O.D. — 20.79 Czechoslovakia— Crowns to £1 N.Z. ... ... ... T.T. — 95.08 O.D. — 95.13

£ s. d. Commonwealth Bonds-— 3J per cent., 1942 4 per cent., 1938 ... 100 15 0 101 8 9 4 per cent., 1941 102 12 6 4 per cent., 1944 104 0 0 4 per cent., 1950 105 11 3 4 per cent., 1955 ••• i.i 104 10 0 Tooths 2 13 3 Anthony Hordern 1 1 3 Commercial Bank of Sydney 1 0 0 Associated News 1 3 4J Colonial Sugar 43 5 O Morris Hedstrom 1 4 6 Wilcox Molfliu 0 11 8 Hun lop 0 16 3

Buyers. Sellers. £ S. d. £ S. d. BANKING— Australasia 11 15 0 — New South Wales ... — 34 10 0 New Zealand 2 7 3 2 7 9 Commercial — 0 19 3 National of New Zealand 3 10 6 3 11 3 INSURANCE— National 0 18 0 — Standard — 3 5 6 SHIPPING— P. and 0. Deferred Stock 1 4 3 — U.S.S. Co. (pref.) ... — 1 7 0 MEAT PRESERVING— N.Z. Refrigerating (cont.) — 0 10 11 South Otago Freezing 7 6 0 — Waitaki Farmers’ Freezing ... — 4 0 0 LOAN AND AGENCYN.Z. Guarantee Corp. 0 5 0 — Perpetual Trustees ... — 3 5 6 COAL— Kaitangala 1 1 6 Westport 1 3 1 1 4 9 Westport-Slockton (pref.) 0 2 3 0 2 7 WOOLLEN COMPANIESBruce (pref.) 1 1 6 — Kaiapoi (pref.) ... — 0 18 0 MISCELLANEOUS— Australian Iron and Steel (pref.) 2 0 0 D.I.C. (ord.) ... ... '0 14 6 D.I.O. (pref.l ... ... 1 3 0 — Dominion Fertiliser ... 1 3 6 1 4 0 Dominion Fertiliser Debs. 106 0 0 Dunedin-Kaikorai Trams 2 0 0 Dunedin Stock Exchange Proprietary 1 19 0 2 0 0 Milburn Lime and Cement — 2 5 0 National -Electric 0 13 0 N.Z. Drug Co 4i 8 G. .1. Coles ... ... 3 12 0 N.Z. Newspapers ... 2 0 0 N.Z. Paper Mills — 1 10 6 BREWERIES— New Zealand 2 12 9 , Staples’ 1 15 9 — Dunedin — 1 9 0 AUSTRALIAN MINING— Bx-oken Hill South 5 5 0 Electrolytic Zinc (ord.) 1 15 3 — Mount Lyell 1 2 6 1 5 0 Mount Morgan — 0 18 4 GOLD MINING— Bendigo Goldlight ... _ 0 0 4 Big River .0 1 9 0 2 1 Brian Boru — 0 0 4 Gillespie's — 0 1 0 King Solomon 0 3 5 0 3 10 Mount David — 0 1 6 Nokomai 0 1 9 — Waitahu (5s) — 0 3 0 Worksop ... — 0 2 6 N.Z. GOVERNMENT LOANS(Bonds quoted are £100 Bonds.) p.c. Stock., Nov., 1938-52 102 0 0 — 3i p.c. Stock, March, 1939-43 ... 102 0 0 — 3| p.c. Stock, Sept., 1939-43 102 0 0 — 31 p.c. Stock, May, 1939-52 102 0 0 . 4 p.c. Bonds, 1937-40 100 V 6 — 4 p.c. Stock, 1937-40 100 7 6 UNLISTED STOCKS— MTntosh, Caley, Phoenix 0 11 0 — National Tobacco (crd.) 3 9 0 — Associated Motorists’ Petrol 1 5 0 — Otago Farmers 0 3 0 — Quartz Manufacturing 0 9 0 —