THE SHARE MARKET

Evening Star, Issue 22722, 9 August 1937, Page 6

THE SHARE MARKET

DUNEDIN STOCK EXCHANGE FIRM UNDERTONE CONTINUES The firm lone on which the local share market closed on Saturday was again apparent this morning. Industrials attracted considerable attention, while further rises were recorded in the Australian mining section. Business was slack, however, only one transaction being effected. Banks remained quiet at Saturday s rates. Commercial had reported business and sellers at 18s 3d, 3d above buyers’ limits. New Zealands closed steady with a market between £2 4s 3d and £2 4s 9d. while the D mortgage shares had unanswered vendors at £1 10s 6d. ' r . ■ National Insurances had a fractionally better market, with buyers at 17s lOd, 4d below holders’ quotation. South Otago Freezings moved up -5s to buyers £9, but sellers remained off. Both issues of New Zealand Refrigeratings had a steady market at last week’s best prices. The ordinary issue of New Zealand Loan and Mercantiles slid back sharply following the announcement, of the capital reconstruction. The latest buyer was last Friday, when £43 was offered, but this morning buyers were finished at £3O, although sellers held at £44. : The Miscellaneous section generally held Saturday’s advances. Stock to improve included Australian Glass, Broken Hill Proprietary, Colonial Sugar, Dominion Fertiliser, and M’Leod Bros., which advanced £3 to buyers £35. Breweries had a steady market, with New Zealands quiet at late rates. Staples had an improved inquiry at £2 11s. Australian mining stock continued very firm, with fresh advances recorded. Electrolytic Zincs (ord. and pref.) had buyers at £3, with sellers 3d away for the ordinary issue, and Is away for the preference shares. Mount Lyells improved to a market between £2 5s 2d and £2 5s 6d, with a transaction after the call at £2 5s 4d. North Broken Hill and Broken Hill South continued very firm. Local gold mining was quiet, while there was a strong inquiry for Government loans. SALE REPORTED.

DIVIDENDS DUE. N.Z. Insurance Final Is per cent., making 8 per cent, share, making 10 per cent. for the year Aug. 10 North Kalgurli (1912) Ltd.—9d (sterling) less English income tax Aug. 10 Mort’s Dock and Engineering—4 per cent ... Aug. 11 M.K. Millinery Ltd., Auckland— Interim, 10 per cent. ... ... Aug. 12 Queensland National Bank—Final, at 4i per cent, per annum ... Aug. 13 Farmers’ Fertiliser—6 per cent. Aug. 16 Commercial Bank of Australia — Sis months, at 4 per cent, per annum on pref., and at 6 2-3 per cent, per annum on ordinary Aug. 19 Trustees, Executors, and Agency Co., Melbourne—B per cent. per annum Aug. 19 Meggitt Ltd—Final, half-year, Ist and 2nd pref., ait 10 per cent. . per annum ’ Aug. 19 Bank New South Wales —Quarterly, 6s per share (Aust. currency) •••, Aug. 26 Associated Newspapers—lnterim pref. 2 per cent;, ord. 2 per cent Aug. 28 Electrolytic Zinc—Half-year 9 per cent, and bonus of 6d on ord. and pref •••••• Sept. 10 Peters American Delicacy (W.A.) —8 per cent, per annum ... Aug. 10 Wellington Woollen—Final at 6 per cent, per annum Aug. 18 Melbourne Steamship Co. —3 per cent. pref. and 3£ per cent, ord., making 6 per cent, and per cent, per annum respectively Aug,, 18 Cash ‘ Orders AmalgamatedQuarterly ord. at 15 per cent. per annum Aug. 19 Clifford, Love, Sydney—lnterim - at 10 per cent, per annum ... Aug. 20 Silverton Tramway Co.—ls 3d per share, equal to 121, per cent., making 20 per cent, for the year Aug. 25 Winchcombe, Carson—lnterim final half-year 4 per cent., making 8 per cent, per annum Aug. 30 Wellington Invest. T. and A.— Final 2 i per cent., making. 5 per cent, per annum ... ... Aug. 30 Carlton Brewery—lnterim halfyearly at 15 per cent, per annum ... Aug. 31 Dominion Rubber, Dunedin —Interim at 10 per cent, per annum Sept. 1 Elder Smith, Adelaide —Final 4 per cent., making 7 per cent. per annum Sept. 1 Broken Hill South—ls 3d per share r... Sept. 15 Apex InvestmentlTrust : bf v: •Interim at 4 per cent. per. annum t i~. ... , ... -. Sept. 16 DOLLAR RATES. The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates to-day on a New Zealand currency basis. They are subject to alteration without notice. U.S.A. Canada. (Per £1 N.Z.) (Per £1 N.Z.) SELLING— T.T. (dol) ... 4.00 1-8 4.00 1-8 O.D. (del) ... 4.00 1-2 4.00 1-2 BUYING— O.D. (dol) ... 4.04 3-4 4.04 13-16 THE MEAT MARKET [Per United Press Association.] WELLINGTON, August 8. The New Zealand Meat Producers. 'Board advises that the following are the approximate average prices realised for the week, based on actual transactions of wholesale quantities of the descriptions of meat mentioned and are for representative parcels of the goods offering during the week, being for business done on the basis of delivered to Smithfield Market and/or ex London St New Zealand Sheep.—Crossbred wethers and/or maiden ewes; Under 481 b, 5Jd per lb; 49-561 b, 5Jd; 57-641 b, s§d; 65-721 b, SJ. Ewes: Under 48 b, 4jd; 49-561 b, 3|d; 57-641 b, 3|d; 65-721 b, 3|d. New Zealand Lambs.— Canterbury: Under 361 b, 7id; 37-421 b 7|d; 43-501 b, 7Jd. Second quality: Average about 311 b 7d. Other South Island: Under 361 b, 7id; 37-421 b, 7gd; 43-501 b, 7*d. North Island Downs: Under 361 b, 7fd; 37-421 b, 7gd; 43-501 b, 7Jd. Second quality : Average about 301 b, 7|d. North Island: First quality, under 361 b, 7|d; 37-421 b, 7[d, Second quality : Average about 311 b, 7d. w . , . Australian Lafnbs. —Victorian: First quality: 29-361 b, 7d; 37-421 b, 6gel. Argentine Lambs. —First quality; Under 361 b, 6|d; 37-421 b, 6|d.New Zealand Frozen Beef.—Ox hinds, 145-2101 b, 4[d; ox fores, 1452101 b, 3Jd. ~ ‘ , . ,' Australian Frozen Beef.—Ox hinds, 140-2101 b, 4Jd; ox crops, weights corresponding, 3gd. • New Zealand Chilled Beef.—Ox hinds, 145-210Ib, ojd; ox fores, 1452101 b, 3Jd. ' , . , Australian Chilled Beef.—Ox hinds, 145-2101 b, sJjd;s J jd; ox crops, weights corresponding, (3Jd. .» ■ Southern Rhodesian Chilled Beef.— Ox hinds, 145-2101 b, 4|d; ox fores, 1452101 b, 2|d. Argentine Chilled Beef.—Ox hinds, 145-2101 b, 6|d; ox fores, 145-2101b,_3id. Uruguayan Chilled Beef.—Ox hinds, 145-2101 b, s|d; ox fores, 145-2101 b, 3|d. Brazilian Chilled 'Beef.—Ox hinds, 145-210Ib, s|d. New Zealand Porker Pigs.—First quality: fll-80lb, 6gd; 81-1001 b, 6|d; 101-1201 b. 6|d. New Zealand Baconer Pigs.—l2l- - 6|d. Lamb Market.—Very firm, with improved prices for heavy-weights. Mutton Market.—Wethers firm, with good demand. Ewes: Prices have advanced owing to improvement in consumption . Beef Market.—Frozen beef: Fores weaker; hindquarters _ unchanged. Chilled beef: Firmer for hindquarters; fores slightly easier. Nfew Zealand Porker Pigs.—Firmer.

New Zealand Baconer Pigs.—Meeting with good inquiry, but prices nominal owing to short spot stocks.

BAWMILUNG INDUSTRY

NEW COMPANY PROPOSED The Southern Development Company has been investigating and securing reports on Latta Bros.’ sawmill at Stuart’s Siding, in the Gatlins district, and anticipates floating the business into a public company during the next fortnight. The participating capital will be about £16,000, a great deal of which will be absorbed by the building and allied trades. HILLEND CLEARING SALE Messrs Stronach, Morris and Co. Ltd. report having held a successful clearing sale on account of Mr Cusack Mackenzie, who has sold his property at Hillend. The attendance was good, embracing buyers from South Canterbury to Gore, and the stock being shown in excellent condition, competition was keen and prices satisfactory. The implements were a superior lot, some of them almost new, and for these also the bidding was very spirited. _ The following are amongst the principal sales effected: —Six_and eighttooth Romney-cross ewes 375, full and failing-mouth Romney-cross ewes 27s 3d, sound-mouth half-bred ewes 26s 6d, Romney-cross ewe-hoggets 35s Id, wethers 325. The horses realised up to £4O for an eight-year-old mare, the top price for the geldings being £3Bs 10s. _ Amongst the sales of implements were the following:—Binder £52 10s. drill £49 10s, ridger £27 10s, lime sower £l7, woolpress £2O.

—This Morning.— Commercial Bank, 18s 3d. SALE AFTER CALL. —This Morning.— Mount Lyell, £2 5s 4d. Quotations as under:— Buyers. Sellers. £ s. d. £ s. d. BANKING— New Zealand (£1) ... 2 4 3 2 4 9 New Zealand, Long “ D ” (£1) .... 1 10 6 Commercial (10s) 0 18 0 0 18 3 National of New Zealand (£2 10s) 3 0 0 National of Australasia (cont., £5) — 7 10 0 INSURANCE— National (7s) 0 17 10 0 18 2 SHIPPING— Huddart, Parker (ord., £1) ... 2 0 0 Huddart, Parker (pref., £1) ... ... 17 6 P. and O.' Deferred Stock (£1) 2 0 6 ■ U.S.S. Co. (pref., £1) 16 4 — MEAT PRESERVING— N.Z. Refrigerating (paid, £1) 0 19 6 1 0 2 N.Z. Refrigerating (cont., 10s) ... .... 0 9 5 0 9 8 South Otago Freezing (£5) 9 0 0 Waitaki Farmers’ Freezing (£5) 4 16 - LOAN AND AGENCY— Qoldsbrough, Mort (£1) ... ... 1-15 3 1 16 3 National Mortgage ‘ (£2) , ... ... ... ... 2 10 6 N.Z. Loan and Mercantile (ord., £100) 30 0 0 44 0 0 N.Z. Guarantee Corporation (3s) ... Otago Farmers’ co-op. (3s 4d) ... ... 0 4 11 _ 0 4 0 Wright, Stephenson (pref., £1) ... ... 110 1 2 0 COAL— Kaitangata (16s) ... 12 0 WOOLLEN COMPANIES Bruce (ord., £1) 0 11 0 Bruce (pref., £1) ... 116 — Kaiapoi (cont., 7s) ... — 0 5 3 Mosgiel (£4) 10 3 0 — Oamaru (£1) 0 18 6 Timaru (£1) — 0 18 0 MISCELLANEOUS— Anthony Hordern (£1) 0 18 9 0 19 3 Associated News (pref., £1) 14 0 Australian Glass (£1) 4 14 6 _ British Tobacco (£1) 2 11 0 , Broken Hill Proprietary (SI) 4 4 0 4 4 9 Brown, Ewing (pref., £1) 12 0 Brown, Ewing (ord., £l) ... 10 6 Colonial Sugar Co. (£20) 47 0 0 D.I.C. . (pref., £1) ... 14 0 Dominion Fertiliser (£1) 1 4 10 1 5 6 Dominion Rubber (£i) 1 14 3 Dunedin Stock Exchange Prop. (£1) 2 0 6 _ Dunlop Perdriau Rubber (£1) 13 9 1 4 2 General Industries (12s 6d) 1 1 0 G. J. Coles (£1) ... 4 18 9 5 0 0 Hpme Pipe (£1) — 1 0 1 Milburn Lime and Cement (£1) 2 2 0 _ M’Leod Bros. (£10) 35 0 0 — Mort’s Dock (£1) ... _ 0 14 6 Moturoa Oil, (ord. 5s) 0 10 N.Z. Drug Co. (£2) ... — 3 14 3 N.Z. Paper Mills (£1) 16 6 1 7 6 * Otago Daily Times ’ (£1) 2 5 3 2 9 0 Regent Theatre (£1) 0 19 6 — Shillings Ltd. (£1) ... 0 17 0 0 17 9 Smith and Smith (pref., £1) Wilson’s (N.Z.) Cement (10s) 1 2 6 0 19 10 Woolworths (ord., £1) 5 9 0 Woolworths (rights) •— 4 4 0 Taranaki Oil (£1 4s 7d) 0 4 8 0 4 10 BREWERIES— New Zealand (£1) ... 2 10 0 2 10 6 New Zealand (cont., 5s) 1 14 0 Staples’ (£1) 2 11 0 — UNLISTED STOCKS— M’Intosh, Caley, Phoenix (£1) 0 7 0 0 9 0 Woolworths (Sydney, ord., £1) 6 0 0 6 10 0 Selfridgcs (£1) 1 13 0 — Cox Bros 12 3 1 3 0 M’Kenzie’s Dept. Stores (£1) 4 3 3 _ OVERSEAS LIST— Woolworths (South Africa) 0 17 9 OVERSEAS Austral Malay Tin (£1) 3 9 0 3 15 0 Austral N.Z. Mining (lls) 0 12 0 0 15 0 Broken Hill South (5s) 2 11 3 2 11 9 Electro. Zinc (pref., £1) 3 0 0 3 1 0 Electro. Zinc (ord., £1) 3 0 0 3 0 3 Mount Lyell (£1) ... 2 5 2 2 5 6 Mount Morgan (2s 6d) 0 12 0 0 12 2 North Broken Hill (5s) 3 19 0 _ Placer Development 3 18 0 — Bawang Tin (10s) ... 0 12 5 0 12 8

GOLD MINING Argo Dredging (Is) ... — 0 2 0 Big River (Is) 0 1 4 0 1 7 Clutha River (2s) ... 0 2 6 — Consolidated Coldfields (4s) — 0 13 6 Gillespie’s (Is) . ,0 1 4 0 1 5 Kildare (2s) — 0 1 4 Lawson’s Flab (is) ... — 0 0 4 Maori Gully (Is) — 0 0 6 Nokomai (5s) 0 1 9 — Okarito (5s) 0 2 6 — N.Z. GOVERNMENT LOANS p.c. Stock, Nov., 1938-52 ... 102 10 0 3.t p.c. Stock, March, 1939-43 ... 102 10 0 — '3i p.c. Stock, Sept., 1939-43 ... 102 10 0 —. p.c. Stock, May, 1939-52 ... 102 10 0 — 34 p.c. Stock, March 1941-43 ... 102 10 0 — 5jt p.c. Stock, 194143 ... Sept., 102 10 0 _ 34 p.c. Stock, May, 1941-52 ... 102 10 0 — 3i p.c. Stock, Nov., 1941-52 102 10 0 4 p.c. Bonds, 1943-46 104 10 0 . 4 p.c. Stock, 1943-46 104 10 0 — 4 p.c. Bonds, 1946-49 104 15 0 — 4 p.c. Stock, 1946-49 104 15 0 — 4 p.c. Bonds, 1952-55 104 10 0 — 4 p.c. Stock, 1952-55 104 10 0 —