Investment Market To-day

Evening Star, Issue 22989, 21 June 1938, Page 6

Investment Market To-day

AUSTRALIANS IMPROVE WELCOME RECOVERY IN MINING OIL SHARES MARKED BACK AGAIN A welcome recovery in transtasman issues, and more especially mining scrip, was the feature of investment operations this morning. Buying support continued cautious, and a few sections remained in the doldrums, notably banking and insurance. Despite the improvement in Australian issues, the market displayed little spirit, and business recorded was restricted, although slightly improved; Apart from a firmer inquiry for Nationals of New Zealand, banking stocks remained unchanged. Buying support was poor, and the section passed a lifeless call. Insurances could be classed under the same beading, for no declared buyers appeared, while vendors were quiet and prepared to concede ground to effect a sale. Goldsbrough, Morts, following upon the release of balance sheet items yesterday, had buyers on at the 3d better price of £1 6s 3d, easy sellers holding late rates 6d away. New Zealand Loan and Mercantiles lost 10s to holders’ £37. Westport-Stocktons, ord. and pref., continued in demand. Firni buyers marked the ords. up 3d to 3s 6d, but failed to attract a response, while preference buyers at the Id better price of 6s 9d bad an answer 6d away. Commonwealth industrials were firmer, but interest was again restricted. Broken Hills were marked up to between £2 16s and £2 17s, while G. J. Coles held yesterday’s rates. Sydney Woohvorths finished easier with a closer market. Oil shares lost further ground, iaranakis, after business at 11s 10d, finished 2d on either side, a loss of almost Is. Moturoa (ord.) had holders offering at yesterday’s buying limits, 5s 9d, buyers finishing at 5s 3d. Australian mining stocks responded to an improvement in the base metals market. Mount Lyells recorded a satisfactory advance, gaining Is 6d to between £1 2s 6d and £1 3s 6d. Norths were marked up 2s by buyers, Souths moved up almost Is 6d, while Zincs shared to a limited degree in the recovery. Morgans were slightly firmer with dealings at 8s 6d. SALES REPORTED. —Late Yesterday.— National Mortgage, £2 3s. Taranaki Oil, 12s lid. Mount Morgan, 8s 6d. —This Morning.— Christchurch Gas, £1 7s 6d. Taranaki Oil, 11s lOd. SALES ON ’CHANGE. —Late Yesterday.— N.Z. Refrigerating (cent,), 8s 4d, —This Morning.— Mount Morgan, 8s 6d (2). ’ Woohvorth’s Properties Ltd. (rights), 3s 6d. SALES AFTER CALL. —Late Yesterday.— Broken Hill Proprietary, £2 15s 9d. Taranaki Oil, 12s 4d. Mount Lyell, £1 2s sd.

DIVIDENDS DUE. Australian Glass Pref., 4g per cent., ord., 4 per cent., plus 5 per cent June 22 North Broken Hill—6d a share ... June 28 Goldsbrough, Mort —-Final, 5 per cent, per annum June 29 British Tobacco—Quarterly, 2 per cent. .... June 30 Farmers’ Trading Ord., 7 per cent Juiie 30 Morris, Hedstrom making 6 per cent. per annum, plus bonus per cent J une 50 Kauri Timber—lnterim at 5 per cent, per annum June National Mortgage and Agency Co.—lnterim 2i per cent. ... July 1 Cash Orders (Amalgamated)— Quarterly pref. at 10 per cent. per annum J u *y 1 Zinc Corporation Ltd. —Final, participating for 1957, ordinary and preference, 4s 6d sterling; preference, for first half of 1938, 2s sterling per share ... July 1 Woohvorths Holdings (South Africa), 5 per cent July 1

BRITISH THRIFT

SAVINGS OF WAGE-EARNERS

Thy savings of British wage-earners put, by iu small amounts __ weekly—increased by more than 800,000,000 durino- the fast financial year, and have reached the total of £1,433,629,000. This record in thrift was announced by Lord Mottistone, chairman of the National Savings Committee, at the recent National Savings Assembly. “ To small investors, to the millions of work-a-dav folk who take advantage of the facilities we offer, savings do not come bv magic,” he said. “ For that part of the public with whom we are primarily concerned, savings come by forethought, by self-discipline, and by a steady, hopeful confidence in the future of the nation. The final achievements of our movement are not on the plane of money, but on the plane of moral. I! It is on the plane of moral that Great Britain now exerts her best influence in world affairs. Our movement is promoting that very quality which our country most needs to make its influence good and salutary.”

DUNEDIN STOCK EXCHANGE THIS MORNING'S CALL LATEST QUOTATIONS

UNLISTED STOCKS— All stocks in this section are not quoted on tbo official list, and transactions are subject to a different rate of brokerage.

DOLLAR RATES. Ihe Associated Banks (other than the Bank of New South Wales) quote 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.I .’dI.UINGTT (dol) ... 3.98 1-8 4.01 5-8 O.D (dol) ... 3.98 1-2 4.02 BUYING— O.D. (dpi) ... 4.03 3-8 4.06 1-16

Buyers. Sellers. £ s. d. £ s. d. N.Z. GOVERNMENT LOANS34 p.c. Stock, Nov., 1938-52 102 0 0 34 p.c. Stock, May, ■ 102 0 1939-52 — 0 31 d.c. Stock, Sept., 0 1941-43 — 102 0 34 p.c. Stock, May. 101 0 0 *1941-52 — 34 p.c. Stock, Nov., 0 1941-52 101 0 — 4 n.c. Bonds, 1913-46 102 10 0 — 4 p.c. Stock, 1945-46 —• 103 0 0 4 d.c. Bonds. 1946-49 102 10 0. — - 4 d.c. Stock, 1946-49 — 0 103 0 0 4 p.c. Stock, 1952*55 102 0 — 3 4 p.c. Bonds, 1953-57 97 10 0 BANKING— New South Wales 31 15 (£20) — 0 New Zealand (£1) ... 2 3 3 Z 3 8 New Zealand, Long 1 10 0 “D” (£1) — Commercial (10s) — 0 15 11 Commercial of Sydney 20 15 (£12 10s) — 0 National of New Zea2 16 land (£2 10s) 2 14 3 0 INSURANCE— National (7s) — 0 17 8 Standard (£1) ... ... — 2 17 3 SHIPPING— Huddart, Parker 2 6 . (ord., £1) — 3 * Huddart, Parker (pref., £1) 1 8 0 — P. and 0. Deferred Stock. (£1) 1 4 0 — U.S.S. Co. (pref., £1) 1 6 0 1 7 0 MEAT PRESERVING— N.Z. Refrigerating 0 19 (paid, £1) — 0 N.Z. Refrigerating 0 8 (cont., 10s) ... ... 0 8 3 6 Southland Frozen 1 10 3 (paid, £1) ... ... — South Otago Freezing 5 11 (£5) ■ ~ 0 LOAN AND AGENCYDalgety (£5) — 8 0 0 Goldsbrough, Mort (£1) 1 6 3 1 6 9 National Mortgage (£2) ... ... . . ... . 2 2 6 — N.Z. Loan and Mer57 0 0 cantile (ord., £100) — N.Z. Guarantee 0 4 Corp. (3s) ... ... 0 4 5 7 Otago Farmers’ Co-op 9 (5s 4d) ‘ 0 2 — Wright, Stephenson (pref., £1) 1 1 0 COAL— Kaitangata (16s) — 1 10 0 Westport (10s) ... ... 1 4 3 W estport-Stockton (ord., 10s) Westport-Stockton 0 3 6 9 (pref., 10s) 0 6 0 7 3 GAS— Christchurch (£1) ... — 1 8 0 WOOLLEN COMPANIES—' Bruce (ord., £1) 0 5 0 — Bruce (pref., £1) — 1 1 0 Bond’s Hosiery — 0 16 0

MISCELLANEOUS— Anthony Hordern (£1) ’Australian Foundation 0 0 17 0 Trust 0 4 0 4 6 British Tobacco (£1) 2 6 3 Broken Hill Proprietary (£1) ... . — 2 16 0 2 1/ 0 Broken' Hill Proprietary (cont.) 1 14 1 15 3 Brown, Ewing (ord., £1) ... i 0 0 Consolidated Brick , 0 47 9 0 Colonial Sugar Co. (£20) ... D.I.C. (ord., 10s) ... 0 0 0 4 3 — D.I.C. (pref., £1) ... 1 3 6 — Dominion Fertiliser (£1) 1 4 0 — Dominion Fertiliser Debs 102 0 0 — Dominion Rubber (£1) ■■ — 1 5 0 Donaghy’s Rope and Twine (£1) 2 5 6 Dunedin Stock Exchange Pty. (£1) ... — 2 5 0 Dunlop Perdriau Rubber (£1) — u xy 9 Felt and Textiles (£1) — X 10 6 G. J. Coles (£1) 4 0 0 — Hume Pipe (£1) — 9 u xy 3 Hays Ltd. 0 lb — Milburn Lime and 3 Cement (£1) 11/ M’Kenzies Dept. 0 Stores (£1) 2 19 0 3 4 IPLeod Bros. (£10) ... — 29 0 , 0 Moturoa Oil (ord., 3 5s) 0 5 0 5 9 National Electric (£1) — 0 15 9 N.Z. Drug Co. (£2) 3 7 6 — N.Z. Paper Mills (£1) I 0 3 — ‘ Otago Daily Times 0 (£1) ••• 2 S 0 2 7 Regent Theatre (£1) 1 0 0 — Taranaki Oil (£1 4s 0 7d) 0 11 8 0 12 Wilson’s (N.Z.) Cement (10s) — 0 16 5 Woolworths (ord., 5s) — 1 i 0 Woolworths (Sydney, 0 ord., 5s) 1 2 1 0 5 BREWERIES— New Zealand (£1) ... 2 0 6 — 0 Dominion (£1) — 1 17 Dunedin (rights) u u 6 OVERSEAS LIST— Woolworths (South 0 Africa) U lb OVERSEAS MINING— Broken Hill South 1 (5s) 1 5 i 5 9 Electro. Zinc (prof., 19 £1) 1 9 2 0 3 Electro. Zinc (ord., 15 0 £1) 1 L 16 6 Mount Lyell (£1) 1 2 6 1 3 6 Mount Morgan (2s G(1 0 8 4 0 8 6 North Broken Hill (5s) Placer Development 1 16 3 1.2 6 0 _ Kawang Tin (10s) 0 7 9 0 8 6 GOLD MINING— Big River (Is) 0 1 0 0 1 2 Central Sholover (Is) — 0 0 6 Clutha River (2s) 0 2 0 0 2 6 Gillespie’s (Is) — 0 U XU Grey River 0 11 9 — 6 Martha (5s) — 0 IZ Molynoux River (2s) 1 u z 6 Nokomai (5s) 0 3 0 1 9 Okarito (5s) — 1 0 3 3 Sandhills (Is) 0 0 0 0 2 Skippers (Is) — 0 0 0 2 Waipapa Beach (Is) — 8 0 1 Waitahu (5s) 0 0

Mackintosh Calcy Phoenix (£1) — 0 8 0 Mackintosh Calny Phtcnix (cent.) A. and T. Burts (prcf., £1) ... ... — 0 6 0 0 11 6 0 13 0 WooUvorths Properties Ltd. (rights) 0 3 5 0 3 s

F.A.M.K. Insurance (pref.) 1 0 6 Reliable Loan (£1) — 0 19 0 Reliable Loan (10s) — 0 9 0 Southland Ice Cream — 1 5 0