SHARE MARKET

Evening Star, Issue 22790, 27 October 1937, Page 8

SHARE MARKET

DUNEDIN STOCK EXCHANGE AUSTRALIAN ISSUES ADVANCE BUT BUYERS HESITANT Following yesterday’s sharp drop the local market recorded eome marked gains in Australian industrial and mining stocks this morning. Buyers quoted cautiously, however, and did not reach vendors’ limits. New Zealand industrials continued uncertain, while other sections generally held late rates. London’s failure to follow the Wall Street rally has caused forecasts of another decline, and if this eventuates it will have serious repercussions on markets. Banks were steady, with a firmer tone in Australian issues. New Zealands changed hands at £2 4s, the market closing 3d on cither side. A strong inquiry for I*, and O. Deferred Stocks sent the shares up to unanswered buyers &1 10s, a Is 6d gain. Meat preserving and loan and agency stocks were quiet at late rates, Goldsbrough, Morts finishing between £1 14s and £1 14s 9d, their best market for some time. Australian industrials were marked up, B.H.P.’s, G. J. Coles, Hume Pipes, and Australian Glass sharing in the rise. Dominion . issues continued uncertain, Milburn Limes slipping 3d to final vendors £2 3s 3d. Australian mining stocks maintained yesterday afternoon’s improvement, although values did not recover the earlier drop. Broken Hill Souths gained Is 3d, Mount Lyells Is 3d, North Broken Mills Is 3d, while Mount Morgans and Electrolytic Zincs held late rates. SALES REPORTED.

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

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 —

CITY PROPERTY SALE IN PRINCES STREET CHANGES HANDS AT £25,000 At a price of £25,000, property in Princes street changed'/ hands yesterday; The property sold was owned by Messrs Coulls, Somerville, _ Wilkie Ltd., adjoins Woolworths, and is mainly occupied by Bells Ltd. The area consists of 15 perches. The Princes street frontage is approximately 25ft, while the depth of the property, is 165 ft. A two-story building and a basement stand on the arpa, the ground floor being bcucpicd by Bells Ltd., who have a tenancy with still two years to run. The sale has been made to a Christchurch resident, and the price paid averages about £I,OOO a foot frontage, which shows the value of main street property. The sale was made through Messrs John Reid and Sons Limited. WAIHI INVESTMENTS AND EXPLORATION LTD. Pre» Association —By Telegraph—Copyright MELBOURNE, October 26. Advice has been received that Waihi Investments and Exploration Ltd., London, showed a net profit of £12,179 for the year ended September 30, and declared a dividend of 6 per cent. COMPANY HEWS GILLESPIE'S BEACH PROFIT GOLD OUTPUT INCREASED. The Gillespie’s Beach Gold Dredging Company Ltd. (South Westland) earned a net profit of £15,832, for the year ended June 30, against £3,385 in the previous year. The amount of gold won was 3,5520 z, valued at £28,334, against 1,6990 z, valued at £13,592. Four dividends, each of 8 1-3 per cent., were paid, aggregating £11,667. Income tax took £1,682. The amount brought in was £1,670, and the balance to be carried forward is £4,153. Expenses showed an increase, dredging expenses taking £9,139 and administration £1,256. Gross profits were £26,227, gold export tax having taken £2,200. Paid-up capital is £35,000. Assets total £42,054, including cash and gold in transit, £2,604: Savings Bank deposit £2,343, and Government stock £I,OOO. MOUNT COOK TOURIST COMPANY BENEFIT OF REORGANISATION, Considerable reorganisation has enabled Mount Cook and Southern Lakes Tourist Company Ltd., formerly Mount Cook Tourist Company of New Zealand Ltd., to present a very much more healthy balance sheet to shareholders for the year ended March 31, 1937. Net profit for the year was £4,082, against £1,300 last year, and a, loss of £2,112 in 1935. The main change in the accounts is the disappearance of the accumulated loss of £38,700 shown in the 1936 balance sheet. Nominal capital has been Reduced to £42,500 from £85,000, and paid capital is £40,763 less at £39,666. AUSTRALIAN GLASS COMPANY DIVIDENDS ANNOUNCED. The directors of Australian Glass Company advise that an interim dividend of 6 per cent, has been declared in ordinary shares, and a dividend of 4J per cent, on preference shares. RIMU RETURN [Per United Press Association.] HOKITIKA, October 27. * The Rimu dredge return, 312.10 z for 133 hours, 50,384yds being treated.

• —Late Yesterday.— Union Steam Ship Co. (pref.), £1 6s 6d. Woolworths (Sydney), £1 9s 7d, —This Morning.— Bank of New Zealand, £2 4s. SALE AFTER CALL. —Late Yesterday.— Dunedin City Corporation Debentures, 1/4/49, 4i per cent., £104 Quotations as under:— Buyers. Sellers. £ 6. d. £ s. d. BANKING— Australasia (£51 ... i New South Wales 1 3 0 H 10 0 (£201 32 10 0 33 5 0 New Zealand (£l) ... 2 3 9 2 ' 4 3 New Zealand, Long “D” (£1) 1 8 10 1 9 6 Commercial (10s) ... 0 17 5 0 17 8 National of Australasia (cont., £5) — 7 7 0 — Union of Australia 6 , , Ltd. (£5) ... ... — 9 12 INSURANCE— National (7s) — 0 18 3 New Zealand (£1) ... 3 4 0 — South British (£1) ... — 4 15 0 Standard (£1) ... .... — 3 0 6 SHIPPINGHuddart, Parker (ord., £1) 2 0 6 2 3 0 Huddart, Parker (pref.. £1) 1 7 0 P. and 0. Deferred Stock (£1) 1 10 0 — U.S.B. Co. (pref., £1) 1 6 6 — MEAT PRESERVING— N.Z. Refrigerating (paid, £1) 1 0 0 1 0 9 N.Z. Refrigerating (cont., 10s) 0 10 0 Southland Frozen (paid, £11 1 6 0 1 9 0 South Otago Freezing 0 0 (£5) ... 5 5 6 0 Waitaki Farmers Freezing (£5) ... 4 5 0 LOAN AND AGENCY— Goldsbrough, Mort (£1) I 14 0 1,14 9 N.Z, Loan and Mercantile (ord., £100) ... 36 0 0 N.Z. Guarantee Corporation (3s) 0 5 0 Otago Farmers’ Co-op, 6 0 (3s 4d) 0 3 4 3 Trustees, Executors, and Agency (£2> ... 3 15 0 — Wright, Stephenson 0 (pref., £1) 1 i 1 1 3 COAL— Kaitangata (16s) ... 1 3 3 — Westport (10s) — 1 b 6 Westport-Stocklon 2 (ord., 10s) 0 0 Westport-Stockton 9 (pref., 10s) 0 4 — WOOLLEN COMPANIES — Bruce (ord., £1) ... — 0 12 6 Kaiapoi (ord., 17s) ... — .0 13 1 Kaiapoi (cont., 7s) ... — 0 5 0 Kaiapoi (pref., IVs) —» 0 17 6 Oamaru (£1) — 0 19 6 Timaru (£1) ... ... — 0 17 0 MISCELLANEOUS— Anthony, Hordern (£1) —• 0 13 0 Associated News 4 (pref., £1) — 1 0 Australian Glass 6 (£1) British Tobacco (£1) — 4 12 — 2 9 0 Broken Hill Proprie6 tary (£1) 3 6 3 3 6 Broken Hill fropnctary (rights) ... ... 1 10 0 i ii 3 Brown, Ewing (pref., £1) — i 2 6 Borwn, Ewing ■ 2 (ord., £1) ... • ... — i 0 Colonial Sugar Co. 47 6 (£20) 46 15 0 2 D.I.C. (ord.. 10s) ... 0 15 0 — 6 D.I.C. (pref., £1) ... — 1 4 Dominion Fertiliser (£1) 1 4 0 Dominion Fertiliser 0 Debentures 102 0 — Dominion Rubber (£1) - - 1 11 0 Dunedin Stock Exchange Proprietary (£1) 2 1 0 — Dunlop Perdnau Rubber (£1) 1 2 7 General Industries (12s 6d) 0 18 6 — G. J. Coles (£1) ... 4 12 0 — Hume Pipe (£1) 0 19 11 — M’Kenzies Department 8 8 Stores (£1) — 4 Milburn Lime and Cement (£1) 2 6 3 M‘Leod Bros. (£iU) 26 0 0 — 6 Mort’s Dock (£1) ... — 0 11 Moturoa Oil (ord., 5s) — 0 4 0 Moturoa Oil (pref., 0 5s) — 0 5 N.Z. Paper Mills (£1) ‘ Otago Daily Times ’ — 1 7 0 9 (£1) ••• 2 5 * Regent Theatre (£1) 1 0 0 — Shillings Ltd. (£1) ... Wilson’s (N.Z.) — 0 19 0 0 Cement (10s) — 1 0 Woolworths <ord., £1) — 5 5 0 Woolworths (new issue) 4 18 0 — Taranaki Oil (£1 4s 7d) 0 6 9 0 7 3 BREWERIES— • New Zealand (£1) ... — 2 8 8 Dunedin (£1) 1 3 9 — Carlton (£1) 3 1 0 —* UNLISTED STOCKS— Woolworths (Sydney, ord., 5s) 1 9 6 1 9 9 Selfridges (£1) 1 11 0 — A. and T. Burt (pref., £1) ... ... 0 10 6 0 12 6 Security Finance — 0 17 0 OVERSEAS MINING— Austral-N.Z. Mining 13s Id) — 0 15 0 Broken Hill South (5s) 2 0 9 2 1 9 Electrolytic Zinc (pref., £1) f— 2 15 0

Electrolytic Zinc {ord., £1) ... 2 12 0 2 12 9 Mount Lyel! (£1) ... 1 18 6 1 19 0 Mount Morgan (2s 6d) 0 ii 6 0 12 0 North Broken Hill (5s) 2 17 6 2 18 9 Placer Development — 3 H 0 GOLD MINING— Big River (Is) 0 1 31 0 1 5 Clutha River (2s) ... 0 3 4 0 4 0 Consolidated Goldfields (4s) - 0 13 6 Kildare (2s) — 0 1 3 Molyncux River (2s) 0 2 3 — Maori Gully (Is) ... — 0 0 6 Nokomai (5s) 0 2 0 0 2 3 Okarito (5s) 0 2 9 0 3 9 Paddy’s Point (5s) ... 0 1 6 Sandhills (Is) — fi 0 4 Waipapa Beach (Is) — 0 0 3 N.Z. GOVERNMENT LOANS3i p.c. Stock, Nov., 1938-52 104 0 0 — 31 p.c. Stock, March, 1939-43 — 101 12 6 3i p.c. Stock, May. 1939-52 104 0 0 — 3i p.c. Stock, March, 1941-43 101 10 0 — 31 p.c. Stock, Sept., 1941-43 101 10 0 — 4 p.c. Stock, 1943-46 — 103 5 0 4- p.c. Stock, 194(5-49 — 103 0 0 4 p.c. Bonds, 1952-55 104 15 0 — 4 p.c. Stock, 1952-55 104 15 0 — 31 p.c. Bonds, 1953-57 96 0 0 — p.c. Stock, 1953-57 98 0 0 DIVIDENDS DUE. South British Insurance—Final of Is 5d per share , Oct. 28 United Provision—Final, pref., at 8 per cent, per annum ... Oct. 28 Prug Houses of Australia-Final, per cent., making 6£ per cent, per annum , Oct. 30 British Tobacco (Aust) — Quar* terly pref. at 6£ per cent. per annum , Oct. 30 Amalgamated Wireless (Ausfasia) Ltd. — Final at 5 per cent, per annum, plus bonus 2 per cent., total 7 per cent, , Oct. 30 Macky, Logan, Caldwells—Interim at 5 per cent, per annum Nov. 1 D.l.C. Ltd. — Pref., 5 per cent., ord., 6 per cent Nov. 1 Imperial Chemical Industries—Interim, half-yearly, ord., 3 per cent Nov. 1 Martha Mine—Is per share, free of tax Nov. 2 Bank of Adelaide—Interim at 5 per cent, per annum ... Nov. 3 Broken Hill Proprietary — HalfYearly, at Is 3d per share Nov. 17 National Bank of Australasia— Half-yearly at 6 per cent, per annum Nov. 24 Bank' of New Zealand—Halfyearly, Is per share ord.. 3i per cent. D long-term mortgage issue , Dec. 11

Buying. Selling. London—• £100 stg. £124 10/ N.Z T.T. £121 „O.D. £123 10/ £124 8/9 Australia— £A to £100 N.Z T.T. £101 £100 10/ Fiji£F to £100 £89 N.Z ,T.T. £90 7/6 . New York — Dollars to £1 N.Z. ... ... T.T. 4.0034 3.9689 O.D. 4.0134 3.9729 Montreal— Dollars to £1 3.9699 N.Z. ... T.T. 4.0024 O.D. 4.0144 3.9739 Austria— Schillings to £1 20.83 N.Z. ... , ... T.T. — O.D. — 20.84 Belgium— Bel gas to £1 23.474 N.Z. ... T.T. 23,784 O.D. 23.859 23.485 Czechosovakia— Crown to £1 N.Z. ... , ... ,T.T. 112.76 O.D. — 112.81 Denmark — Kroner to £1 N.Z ... T.T. 18.203 17.893 O.D. 18.263 17.899 France— Francs to £1 118.27 N.Z. ... T.T. O.D. — 118.31 Germany— Eeichmarks to £1 9.832 N.Z ... T.T. — O.D. — 9.837 Holland— Florins to £1 7.148 N.Z. ... T.T. 7,298 O.D. 7.338 7.152 ItalyLire to £1 75.43 N.Z ... T.T. — O.D. — 75.48 Java— Florins to £1 N.Z. ... T.T. 7.271 7.121 O.D. 7.311 7.125 Norway— Kroner to £1 N.Z. ... T.T. 16.185 15.885 O.D. 16.245 15.901 Sweden — Kroner to £1 N.Z. ... T.T. 15.786 15.491 O.D. 15.846 15.497 Switzerland — Francs to £1 N.Z. ... T.T. 17.441 17.171 O.D. 17.546 17.176 Noumea — Francs to £1 N.Z .. T.T. — 117.02 O.D. — 117.06 Papeete— Franc to £1 N.Z. ... . ... T.T. — 117.07 O.D. — 117.11 Hongkong— N.Z. pence to 1 18 29-64 18 53-64 dollar ... . .. T.T. O.D. 18,27-64 18 53-64 India and Ceylon— N.Z. pence to 1 ?2 21-32 rupee ... . .. T.T. 22 3-8 O.D. 22 11-32 22 21-32 Japan— N.Z. pence to 1 17 33-64 yen .. .. T.T. ■ O.D, ... 17 33-64 Shanghai— N.Z. pence to 1 18 11-64 dollar ... . .. T.T. — \ O.D. — 18 11-64 Singapore— N.Z. pence to 1 ' dollar ... . .. T.T. 34 23-32 35 13-64 O.D. 34 4-8 35 13-64 Chefoo — N.Z. pence to 1 dollar ... . .. T.T. — +18 15-64 O.D. — 18 7-32 Manila— N.Z. pence to 1 30 15-64 peso ... . .. T.T. 29 47-64 O.D. 29 41-64 30-15-64 DOLLAR RATES.

U.S.A. Canada. SELLING— T.T. (dol) ... 3.97 3.96 15-16 O.D. (dol) ... 3.97 3-8 3.97 5-16 BUYING— O.D. (dol) , ... 4.01 3-8 4.01 5-16