Investment Market To-day

Evening Star, Issue 22963, 21 May 1938, Page 12

Investment Market To-day

AUSTRALIAN MINING DROPS NORTHS LOSE OVER VMOTUROA OILS (ORD.) WANTED AT 3/3 A sharp marking down, accompanied by heavy business yesterday afternoon and this morning, was experienced by Australian mining stocks on the unexpected reduced dividend announcement made by North Broken Hill. The decline can be regarded as the most serious this year, in that it carried values down to new 1938 lows. Quotations came forward very cautiously to-day, and there was no alteration from the initial offers. North Broken Hills lost 2s 3d overnight, business being recorded to-day at. £2 4s 9d, with unanswered vendors asking 3d away. Souths lost 9d, Electrolytic Zincs dropped up to Is. while Mount Lyells (cum div.) changed hands as low as £1 5s Id, with holders this morning asking £1 ss, hut even at that concession buyers were not to be drawn. Banks were quiet with easier sellers for Commercials of Sydney, which were on offer at £2O TOs. Insurance issues displayed little change. Commonwealth industrials closed comparatively steady, the only movement of note being a slight in Broken Hill Proprietaries. Buying support was poor, however, only three inquiries being recorded. Anthony Horderns finished 3d down at unanswered vendors 18s 3d. Dominion stocks were almost lifeless. Taranaki Oils found a market between 8s 8d and 8s lOd, while Moturoas ford.) had their first inquiry for months at 3s 3d. N.Z. Paper Mills (rights) were steady, with buyers offering Is, the ords. remaining between £1 Is and £1 2s. Dunedin Breweries weakened to holders £1 11s, buyers remaining off. SALES REPORTED. -—Late Yesterday.— North Broken Hill, £2 7s. —This Morning.— Electrolytic Zinc (ord.), £2 Os 2d. North Broken Hill, £2 4s 9d. SALES ON ’CHANGE. —Late Yesterday.— Broken Hill Proprietary, £3 Is 3d (3). G. J. Coles, £4 3s 6d. New Zealand Paper Mills (rights), Is 3d. Taranaki Oil. 8s 9d (5). Mount Lyell. £1 5s 2d (4). North Broken Hill, £2 6s 3d (3), £2 6s. ■AFTER LAST CALL. ' —Late Yesterday.— Broken Hill Proprietary, £3 Is 3d. North Broken Hill, £2 6s, £2 5s 9d (3). Mount Lyell, £1 5s (2).

HOCK EXCHANGE INDICATOR

Government Loans Steady Banks Little change Insurance Inactive Shipping Good inquiry Meat Preserving Stable Coal Quiet Woollen Neglected Australian Industrials, Unchanged N.Z. Industrials Little interest Breweries Shade easier Australian Mining Weak WWVWA'.VWWMVA

DIVIDENDS DUE. Tui Brewery—lnterim, 5 per cent. May 21 Traders’ Finance Corporation— Interim, ord. 2$ per cent.; half-yearly pref. at 5 3-5 per cent, per annum May 21 Argo Gold—ld a share (No. 13) ... May 23 P. and O. Deferred—lnterim, 2J per cent .. ... May 24 Dunedin Brewery and Wilson Malt Extract—Final, 4 per cent., making per cent. per annum May 26 Bank of New South Wales— Quarterly, at 6 per cent, per annum May 26 Equitable Building and Investment —Final, 2 per cent., making 4 4-5 per cent, per annum May 26 Clifford, Love, Sydney—lnterim, quarterly at 10 per cent, per annum May 27 Loloma (Fiji) Gold Mines—ls per share May 27 Westport Coal—lnterim, 6d per ■ share May 27 Farmers’ Trading Co., Auckland —Finals A and B pref., 5 3-5 per cent, per annum, C pref. 5 per cent, per annum May 31 Union Steam Ship—Pref., interim, 2| per cent ... May 31 Imperial Chemicals Ltd. —Final, 5i per cent., making 8i per cent, per annum ... ■ June 1 Henry Jones Co-op.—lnterim, 6d a share June 1 Broken Hill Pty.—Half-yearly, Is 3d and on new shares 2jd per share, Australian currency June 1 Taringainutu Timber —2£ per cent. June 1 Swan Brewery, Western Australia —Ord., 6d and bonus 3d a share; pref June 1 National Reliance Invest. Trust, Melbourne—6 per cent June 6 M'Kenzies Department .Stores — at 18 per cent, per annum ... June 7 Dominion Fertiliser Co. cent, per annum Juno 7 Bank of N.Z.—Final, Is a share, or 10 per cent, per annum ... June 10 Broken Hill South—lnterim, 9d - Placer Development —6O cents (Canadian) and Bulolo Gold Dredge, l.SOdol (Canadian) ... June 10 a share : June 15 Wilson’s Cement —Final, a share, or 7i per cent. . per annum June 15 Mount Lyell—lnterim, 6d a share June 20 Australian Glass—Pref., 4J per cent., ord. 4 per cent., plus 5 per cent June 20 Morris, Hedstrom—3 per cent., making 6 per cent, per annum, plus bonus 2J per cent, June 30 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) ... 3.98 3-8 4.01 7-16 . O.D. (dol) ... 3.98 3-4 4.01 13-16 BUYING— O.D. (dol) 4.02 5-8 4.05 13-16

DUNEDIN STOCK EXCHANGE THIS MORNING'S GALL LATEST QUOTATIONS

Reckitt and Sons Ltd. and J. and J. Colman Ltd., two companies well known to New Zealand through 'their products, have decided to amalgamate.

Buyers. Sellers. N.Z. GOVT. LOANS— £ S. G . £ 6. d. Ji p.c. Stack. Nov.. 1938-52 101 17 6 2'i p.c. Slock, March, '1939-43 100 10 C H p.c. Stock, May, 1939-52 . ... 101 5 0 5i p.c. Stock, May, 1941-52 ... ... ... 101 10 0 5J p.c. Stock, Nov., 1941-52 101 10 0 4 p.c. Bonds, 1943-46 102 15 0 4 p.c. Stock 1943-46 102 15 0 __ 4 p.c. Bonds, 1946-49 103 0 0 — 4 p.c. Stock, 1946-49 103 0 0 4 p.c. Bonds, 1952-55 104 5 0 — 4 p.c. Stock, 1952-55 104 5 0 3i p.c. Bonds. 1953-57 98 0 0 3| p.c. Stock. 1953-57 93 0 0 — BANKING— Australasia (£5) 9 19 0 New Soutti Waies (£20) 32 5 0+ New Zealand (£1) ... 2 4 Of New Zealand, Long "»■' (£1) X 9 3 — Commercial (10s) ... 0 16 4 Commercial of Svdney (£12 ios)... ... 20 10 0 National of New Zealand (£2 10s) — 2 13 3 INSURANCE— National (7s) 0 17 2* South British (£1) ... 2 7 6 Standard (£1) — i 18 6 SHIPPING— Howard Smith (£1) 1 0 0 Huddart. Parker (ord., £1) Huddart, Parker 2 5 0 (pref., £1) P. and 0 Deferred X S 0 Stock (£1) 1 4 0 U S.S. Co. (pret.. £1) — 1 7 9f MEAT PRESERVING— Gear (10s) 0 16 4 N.Z. Refrigerating (paid, £1) — 0 19 3 N.Z. Refrigerating (cont., 10s) 0 8 2 0 8 6 Southland Frozen (paid, £1) 1 8 0 1 9 0 South Otago Freezing (£5) .:. 5 8 0 Waitaki Farmers’ Freezing (£5). ... 3 16 0 — LOAN AND AGENCY— Goldsbrougb, Mort (£1) 1 11 0 ■ N.Z. Loan and Mercantile (ord., £100) N.Z. Guarantee Cor39 0 0 poration (3s) 0 4 4 Trustees Executors and Agency (£2) 3 15 0 Wright, Stephenson (pref., £1) — 1 2 3 COAL— Westport (10s) 1 4 Of Westporl-Stockton (ord., 10s) 0 2 9 Westport-Stockton (pref., 10s) 0 6 0 — WOOLLEN COMPANIES— * Bruce (ord., £1) ... 0 5 0 , , Wellington (ord., £5) — 5 8 0 MISCELLANEOUS— Anthony Hordern (£l) ~7 0.18 3 Associated News (pref., £1) — I 4 0 Australian Foundation Trust o. 4 0 0 5 0 Australian Glass (£1) 4 13 9+ Bond’s Hosiery — 0 17 0 Broken Hill Proprietary (£1) 3 1 9+ Broken Hill Proprietary (cont.) — 1 18 0+ Consolidated Brick (£1) 0 8 9 Crystal Ice Co. (£1) _ 2 5 6 Dominion Fertiliser (£1) 1 5 6t Donaghy’s Rope and Twine (£1) — 2 6 0* Dunedin Stock Exchange Proprietary (£1) ... 2 2 0 Dunlop Perdriau Rubber (£1) — 1 2 3 Felt and Textiles (£1) — 1 13 9 G. J. Coles (£1) ... — 4 4 0 Hume Pipe (£1) ... — .1 0 0 Miiburn Lime and Cement (£1) — 1 17 6 M’Kenzies Dept. Stores (£1) 3 8 6t Mort’s Dock (£1) —- 0 11 0 Moturoa Oil (ord., 5s) 0 3 3 N.Z. Drug Co. (£2) ... 3 7 0 3 8 0 N.Z. Paper Mills (£1) - ‘ 1 1 0 1 2 0» N.Z. Paper Mills (rights) 0 1 0 ' Otago Daily Times ’ (£1) — 2 7 6 Regent Theatre (£1) 0 19 0 Smith and Smith (pref., £1) Taranaki Oil (£1 1 0 0 __ 4s 7d) 0 8 8 0 8 10 Woolworths (ord., 5s) — 1 2 0 Woolworths (Sydney. ord., 5s) 1 2 1 — BREWERIES— New Zealand (£1) ... 2 4 6 2 5 6 Dunedin (£1) — 1 11 0+ Tooths (£1) — 2 15 9 OVERSEAS LIST— Woolworths (South Africa) — 0 16 6 OVERSEAS MINING— Broken Hill South (5s) 1 9 3 1 9 9t Electro. Zinc (pref.. £1) 2 4 0 2 5 0 Electro. Zinc (ord.. £1) — 2 1 0 ■ Mount Lyell (£1) ... — 1 5 Ot Mount Morgan (2s 6d) 0 8 3 — North Broken Hill (5s) 2 5 Ot Placer Development ... — 3 15 0 GOLD MINING— Big River (Is) 0 1 0 Clutha River (2s) ... 0 2 4 0 2 9 Gillespie’s (Is) 0 0 9 0 0 104 Grey River 0 11 9 — Goldfields Dredging (Is) 0 0 li 0 0 4 Martha (5s) — 0 13 0 Molyneux River (2s) 0 1 9 — Nokomai (5s) 0 1 6 0 2 0 Paddy’s Point (5s) ... — 0 1 0 Sandhills (Isl 0 0 li 0 0 3 Waipapa Beach (Is) — 0 0 1 Wait aim (5s) 0 0 7 0 0 10 UNLISTED STOCKSAll stocks in this section are not quoted on the official list, and transactions are subjeet to a different rate of brokerage. Selfridges (£1) 0 17 0 A. and T. Burts (pref., £1) 0 11 6 0 13 0 Security Finance — 0 11 0 Woolworths Properties Ltd. (rightsl ... 0 3 9 0 4 0 A. and T. Inglis Ltd. 0 7 0 0 9 0 Blackball Creek 0 1 2 — tCum div. * Ex div.