Commerce, Mining, & Finance

Evening Star, Issue 22632, 26 April 1937, Page 6

Commerce, Mining, & Finance

SHARE MARKET DUNEDIN STOCK EXCHANGE The week opened quietly with sales transacted only in Bank of New Zealands and the ordinary issue of Broken Mill ■.Proprietary*. The Australian mining section was inactive, with prices tending to firm, although both issues of Electrolytic Zincs eased slightly. , , , , , Bank of New Zealands had .four transactions' at £2 4s 6d, the market closing .at Saturday’s quotations of £2 4s 3d and £2 4s sd. Union Banka finned to £ll 5s 6d and £ll Bs. In the miscellaneous section G. J. Coles remained quiet at £5 6s 9d and £5 Bs, while New Zealand Drug Co. eased further to sellers £3 15s ?d without attracting buyers. Broken Hill Proprietary* eased to business at >£4 2s 3d and £4 2s 2d, the' market closing at £4 2s 3d and £4 2s 6d, while the contributing issue was quoted at £3 15s and £3 15s 9d. Both the preference and ordinary issues of Electrolytic Zincs eased slightly, while Mount Lyells recovered to inquiries at £2 6s' 4d, sellers remaining lOd away. Mount Morgans firmed slightly to quotations at 15s 7d and 16s without recording any business. , , : . „ The local gold mining and Government stock sections were quiet. SALES ON ’CHANGE. , Bank of New Zealand, £2 4s 6d (4). Broken Hill Proprietary, £4 2a 3d (2), £4 2s 2d. . Quotations as under: — s Buyers. Sellers. £ s. d. £ s. d. BANKING-

DIVIDENDS DOE * United Building, Auckland—lnerim at 5 per cent, per annum Apr. 26 Okarito Gold Dredge—4d per 5s share Apr. 27 Bank of Adelaider-Half-yearly, final at 5 per cent, per annum Apr. 28 British Tobacco (Aust.) Ltd.— Quarterly, pref., at 6i per cent, per annum Apr. 30 Claude Neon Ltd., Sydney—ln- _ terim half-yearly at 15 per cent, per annum ... ... ... Apr. 30 Drug Houses of Aust.—lnterim, 3 per cent Apr. 30 United Provisions—lnterim preference at 8 per cent, per annum Apr 30 North Kalgurli (1912) Ltd.—lnterim, 6d sterling a share ... Apr. 30 Associated Newspapers—lnterim, pref. and ord., 2 per cent. ... Apr. 30 N.Z. Investment, Mortgage, and Deposit Co—Final, 3 per • cent., making 5 per cent, per annum —• May 3 Mosgiel Woollen—lnterim at rate of 8 per cent, per annum ... May 13 E.S. and A. Bank—lnterim, 3} per cent, (sterling) May Imperial Chemical Industry—ord.,' final 5i per cent. ... Bank of New Zealand—Final, ordinary shares. Is June 11 National Bank, of Australasia At 6 per cent, per annum on both issues THE SEARCH FOR GOLD WORKSOP DREDGE RETURN The Worksop Extended Gold' Dredging Company Ltd. reports a return for the week ended on April 22 of 28oz for a yardage of 12,200 treated in 135 hours. , BROKEN HILL DIVIDEND [Per United Press Association.] WELLINGTON* April 25. The Broken Hill Proprietary has advised the Stock Exchange Association that half-yearly dividends of Is 3d per share (Australian currency) ,on fullypaid shares and lOd per share on shares held under provisional certificates have been declared to be payable on June 2. ' MOSSY CREEK RETURN The Mossy Creek return was 17oz 7dwt for 135 hours’ work (9,72Byd's). NEMONA DIVIDEND The Nemona Gold Dredging Company has declared a dividend of Idi per share. NEW RIVER DREDGE Owing to’the necessity of an overhaul, dredging time on the New River dredge was not sufficient to warranty ■ wash-up this week, A wash-up will take place .next week., •• ,

WHITE'S ELECTRIC DREDGE It _ was found' necessary to install additional tables in White’s Electric dredge, and the dredge has been closed down, temporarily for this purpose. The work is being undertaken immediately, and is ■ expected to take some six to eight weeks. MARTHA'S YEARLY PROFITS A net profit of £98,870 is shown in the accounts of Martha Gold Mining Company (Waihi) Limited, for the year ended December 31, against £83,990 earned during the nine months covered by the first accounts issued by the. Martha Company. A final-dividend of Is per share is proposed, making 2s a share for the year, or 40 per cent., which is equal to the rate paid by the Waihi Gold Mining Company prior to liquidation in 1935. Cabled advice of the company’s results was received from London by the Auckland director and attorney, Mr R. G. Milligan. Gross profit was £173,193. Of this income tax in London and New Zealand absorbed £69,115. depreciation required £5,208, and £-19.590 was distributed in the interim dividend. These appropriations left a balance of £58,884, including £9,604 brought in', out of which the directors recommended a final dividend of Is a, share (free of income tax), payable on May 7. This will require £49,591, leaving £9,293 to be carried forward.

BANK OF NEW SOUTH WALES [Per United Press Association.] WELLINGTON, April 25. The Bank of New South Wales lias declared a quarterly dividend of 6s per share (Australian currency), to bo paid on May 28. APPLES AND PEARS Press Association—By Telegraph—Copyright LONDON, April 25. Quotations for apples are:— New Zealand.—Ex Rotorua and Port Nicholson: Coxes, 11s 3d to 14s; Dunns, 10s to 10s 6d. Australian.—Coxes, 10s 3d to 13s 3d. Liverpool prices are:— Queensland.—Dunns, 8s to 10s. Victorian.—Coxes, 9s 9d to 10s; Jona-" thans, 10s 9d to 12s 6d. Pears.—South Australian Packhams, 8s 9d to'l4s; Josephines, 12s to 12s 9d. TREASURY BILL TENDERS (Bmi=h Official Wireless.) Press Association—By Telegraph—Copyright RUGBY, April 23. The total amount applied for in tenders for £40,000,000 in Treasury bills was £94,265,000. The average rate per cent, for bills at three months was 10s 5.54 d against 10s G.64d a week ago.

THE MEAT MARKET

[Per United Press Association.] WELLINGTON, April 24. The New Zealand Meat Producers’. Board advises that the following are the approximate average prices realised for tho week, based on actual transactions of wholesale quantities of tho descriptions of meat mentioned, and are for representative parcels of the goods offering during thje week, being for business done on the basis of delivered to Smithfield Market and/or ex London stores:— New Zealand Sheep.—Cross-bred wethers and/or maiden ewes: Under 481 b, 5Jd per lb; 49-561 b, sd; 57-641 b, 4|d; 60-721 b, 4Jd. Ewes: Under 481 b, 4*d; 57-641 b; 4Jd; 49-561 b, 4[d; 65-721 b, 4d. ;• New Zealand Lambs.—Canterbury; Under 361 b 7|d, 37-421 b 6|d, 43-501 b 6gd; second quality—average about 311 b, 6|-d. ■ Other South Island :, Under 361 b, 7Jd; 37-421 b, 6|d; . 43-501 b, 6|d. North Island Downs; Under 361 b 7id, 37-421 b GJd, 43-501 b 6gd; second quality—average about 301 b, 7jd. North Island: First quality—under 361 b 7d, 37-421 b 6|d; second quality—average about 311 b, 6Jd. Australian Lambs.—Victorian : First quality—29-361b, 6id; 37-421 b, 6Jd. - Argentine Lambs.—First quality: Under 361 b, 6Jd;.37 : 421b, s|d. • Australian Frozen Beef.—Ox hinds, 145-2101 b, 4|d.. ISTew Zealand Chilled Beef. —Ox hinds, 145-2101 b, 4Jd; ox fores,. 1452101 b, 3|d, -■ ,* Australian Chilled Beef.—Ox hinds, 145-2101 b, 4|d; ox crops, weights corresponding, 3|d. Argentine Chilled Beef.—Ox hinds, 140-2101 b, ox fores, 145-2101 b, 4d. Uruguayan Chilled Beef.—Ox hinds, 145-2101 b, sd; ox fores, 140-210Ib, 3]d. Brazilian Chilled 1 Beef.—Ox hinds, 145-2101 b, 4|d. New Zealand Porker Pigs.—First quality: 61-SOlb, 6|d; 81-1001 b, 6id; 101-1201 b, 6id. New Zealand Baconer Pigs.—l2l- - 6|d. , Lamb Market.—Meeting with fair trade, with prices 6,f light-weights steady.* Heavy-weights shade easier.

Mutton Market.—Wethers and ewes: Tendency is easier owing to heavier arrivals. Beef Market.—Frozen beef firm, with shortage of fores. Chilled beef: Hindquarters unchanged, fores firmer. New Zealand Porker Pigs.—Firmer, owing to shortage of supplies of Homekilled.

New Zealand Baconer Pigs.—Good demand at the better prices.

SYDNEY STOCK EXCHANGE SYDNEY, April 24. Sales on ’Change this morning:—

COTTON, RUBBER, ETC. Press Association—By Telegraph—Copyright LONDON, April 24. Yesterday’s closing prices were:— .Cotton.—Spot, 7.49 d per lb; May shipment, 7.26 d. Rubber.—Para, Is per lb; plantation smoked, li-Jd. Jute.—May-June shipment, £2l Cs 3d a ton. Copra.—May-June shipment. South Sea, £l7 10s a ton;.smoked, tation Rabaul, £lB 10s. Linseed oil, £3l los a ton. Turpentine, £1 18s 9d per cwt.

REFINED SUGAR REDUCTION IN PRICE [Per United Press Association.] AUCKLAND, April 25. A redaction of 10s per ton in the price of all grades of refined sugar is announced by the Colonial Sugar Refining Company. Three advances this year have increased the_ price by £2 per ton over the rate ruling in November last. SHARLAND AND COMPANY The Dunedin Stock Exchange has been advised that an interim dividend of 2J per cent, has been declared by Sharland and Co. Ltd. on all shares, payable on May 10.

New Zealand 2 4 3 2 4 9 Commercial ... .... ... 0 19 6 — Commercial (pref.) ... 9 6 0 — E.S. and A National of New ; 6 12 0 Zealand ... National of Aus3 1 6 3 3 6 tralasia (cont.) ... Union of Australia — 7 18 0 Ltd. ... ... ... ... INSURANCE— 11 5 6 11 8 0 National ;.. ... ... — 0 18 0 Standard ... ;.. ... SHIPPING— Huddart. Parker 2 17 0 (ord.) ' ... P. and O. Def. — 2 0 0 Stock 1 19 0 — U.S.S, Co. (pref.) ... MEAT PRESERVING--, 1 6 6 Gear ... '... ... v..* N.Z. Refrigerating — 4 0 17 3 (paid) ... ... ... N.Z. Refrigerating 0 13 0 19 7 (cont.) LOAN AND AGENCY— 0 8 5 0 9 0 i Goldsbrough,- Mort ... . 1-17 9 1 18 6 , National . Mortgage ... N.Z. L*an and Mer-2-12 0 2 14 0 cantile (ord.) ... «... N.Z. Guarantee Cor49 0 0 51 0 0 ’ poration 0 4 11 0 4 11 Otago X i 'aripers’ Co-op. Otago' Farajers’ Co-op. , 0 4 0 ‘(A pref.) — 1' 1 0 Perpetual Trustees ... Trustees, Executors, 2 18 0 5 4 0 and Agency Wright, Stephenson 3 12 0 “ (ord.) ... Wright, Stephenson 0 19 0 (pre f -) 0 19 9 1 0 6 COAL— Kaitangata ... 1 3 6 — Westport ..., ... ••• Westport-Stockton 1 3 6 (ord.) Westport-Stockton 0 2 0 (pref.) , ... 0 4 0

Woollen companies— Bruce (ord.) — 0 13 0 Kaiapoi (cent.) , 10 — 0 b 6 Mosgiel . 0 0 10 8 0 MISCELLANEOUS— Anthony Hordern — 1 0 3 Associated News. ... 1 3 3 —■ Associated, News (prcf.) ... ••• : 1 3 6 — .Broken Hill Propnetar'y 4 2 3 4 2 6 Broken Hill Proprietary (cont.) ... ... , 3 15 0 b 10 9 • Brown, Ewing (pref.) 1 2 6 Brown, Ewing 0 (ord.) ... ' 1 0 -iColonial Sugar Co. Consolidated Brick ... 44715 0 0 8 8 Crystal Ice. Co. ... ... 1 18 0 2 3 0 . D.I.C. (ord.) 0 16 9 — iD.I.C. (pref.)' i 3 9 ■ ”T ’ Dominion Fertiliser ... Donaghy’s Rope and Twine 1 4 3 — 2 15 0 Dunlop Perdriau Rubber , 1 0 9 1 1 1 General Industries ... — 9 1 0 0 G. J. Coles 5 6 5 8 0 Hume Pipe ... . , .0 19 9 1 0 3 Milburn Lime and Cement ... ... — i. iO 4 National Electric .. , 0.13 6 0 14 0 N.Z. Drug Co — 3 15 9 N.Z. Farmers’ Fertiliser 1 0 3 — N.Z. Newspapers ... — 1 16 6 NiZ. Paper Mills — 0 1 ‘ Otago Daily Times ’ 2 6 2 0 u Shillings Ltd U ID 0 “““ Smith and Smith (pref.) Wilson’s (N.Z.) i 1 0 Cement ; ... .-r 1 10 0 Woolworths (ord.) .... 7 0 0 0 — Taranaki Oil . d 3 3 4 5 BREWERIES— New Zealand . 2 19 0 3 0 Staples’ ... — 1 10 0 Dominion — 0 2 6 Dunedin 1 ,6 OVERSEAS MINING— Broken Hill South (5s)' ... ... 2 8 9 2 10 6 Electrolytic Zinc 2 18 9 (pref., £1) 9 Z 19 Electrolytic Zinc (ord., £1) ... 2 17 6 2 18 9 Mount Lyell (£1) Mount Morgan 2s 6d) 2 6 4 > 2 7 0 0 15 7 0 16 0 Placer Development — 5 5 0 Rawang Tin (10s) ... Austral N.Z. 0 11 6 0 12 4 Mining ... ... ... , 610 9 0 12 9 GOLD MINING— i Argo Dredging (Is) — 0 2 0 Big River (Is) — 0 2 0 Clutha River (2s) ... 0 2 6 — Gillespie’s (Is) 0 X 6 0 1 8 Martha (5s) — 1 0 0 Molyneux River (2s) 0 2 3 0 — Nokomai (5s) 0 2 0 2 2 Hkarito (5s) — 0 5 6 Paddy’s Point (5s) ... — 0 2 0 Sandhills (Is) 0 0 1 0 0 4 Skippers (Is) — 0 0 4 Waimumu Sluicing (la) ... ... 0 0 11 _ Waipapa Beach (Is) 0 0 8 0 0 10 N.Z. GOVERNMENT LOANS3) p.c. Stock, Nov., 1938-52 101 10 0 — 3) p.c Stock, March, 1939-43 — 101 5 0 31 p.c. Stock, Sept., 1939-43 ... ■ — r 101 5 0 3i p.c. Stock, March, 1941-43 100 10 0 — ■ 31 p.c. Stock, Sept., 1941-43 100 10 0 — 3) p.c. Stock, May, 1941-52 ... 101 10 0 — 3) p.c. Stock, Nov., 1941-52 101 10 0 — 4 p.c. Bonds, 1943-46 101 15 0 — 4 p.c- Stock. 1943-46 101 15 0 4 p.c. Bonds, 1946-49 102 0 0 4 p.c. Stock, 1946-49 102 0 0 4 p.c. Bonds, 1952-55 ■ 103 15 0 — 4 p.c. Stock, 1952-55 103 15 0 ,3 p.c. Bonds, 1953-57 98 0 0 3 p.c. Stock, 1953-57 98 0 0 — *cura div.

Commonwealth Bonds— £ s. d. 3J per cent , 1951 99 10 0 3-J per cent , 1947 101 10 0 4 per cent., 1938 10210 0 4 per cent., 1941 103 7 c 4 per cent., 1947 ... ... 102 0 0 4 per cent. 1950 ... ... 102 2 c 4 per cent., 1953 101 13 9 4 per cent., 1957 102 10 0 4 per cent.. 1961 ... ... 101 0 0 Commercial Bank of Sydney 22 17 0 Winchcombc, Carson 1 16 9 Austral Gas A) 7 5 0 Anthony Hordern I 0 3 G. J. Coles (Now Zealand delivery) 5 8 0 Electrolytic Zinc g 18 9 General Industries ... ... 0 19 6 Huddart, Parker ... 1 19 9