Commerce, Mining, Finance

Evening Star, Issue 23499, 13 February 1940, Page 11

Commerce, Mining, Finance

. SLIGHT EASING TENDENCY

GOVERNMENT STOCKS WEAKENING GENERAL TONE QUIET A slight casing tendency, was evident iti several buyers’ quotations on the Dunedin Stock Exchange this morning. This included a number of Government Bond issues, but insurance figures are still moving slightly upward. The tendency was also evident in Broken Hill Proprietaries and Australian Consolidated Industries. Which dropped a lew points. Local industrial stocks were not for the most part affected. New Zealand Paper Mills are still gradually rising. , . .. In the mines and metals section there was very little change. A buyer iqr Austral N;Z. came on the market this moniing, but at Is 9d below- the selling quote, which has remained unchanged for some days. The general tone was fairly quiet in comparison with the strong market of last week. SALES REPORTED. —This Morning.— 1 Dominion Fertiliser. £1 7s_3d. ■ Dominion Rubber (cum div.), £1 3s fld. ' Late Yesterday.— ' New Zealand Refrigerating (cont.), 9s 3d. ' Wilson’s Cement, 19s 3d. ! 4 per cent. Stock (1949-52), £lOl 10s. Bank dl New Zealand (2), £2 Is 6d. ' National Insurance, 19s. Dominion Fertiliser (2), £1 7s 3d. ■ Grey River, 18s 9d. -r-On 'Change Yesterday.— ‘New: Zealand Refrigerating (cont.), Ds 2d. ■ INVESTMENT PROSPECTS TWO FACTORS AT WORK ULTIMATE REDUCTION OF CAPITAL

White important influences are operating which, should result in the growth of wealth production and wider opportunities for investment, other factors at' work which should be given weight in an assessment of prospects, says the weekly bulletin of the Sydney Stock Exchange. Only by the balancing of the two sets of factors can a satisfactory estimate of the general trend be "made, though no obvious need; ;exists for curbing a spirit of optimism. The expanding volume of production in primary, secondary, _ and extractive industries must appreciably increase ,the amount of wealth available to satisfy the deynands of individuate, and organisations generally, exert an inflationary influence'.. But hand in hand with that must go increases in the .costs of materials and services, the restrictions placed on the prices at whichjproducts may be sold, and the reduction- of the time lag in the automatic adjustment of wages and costs. In the case of both individuals and companies provision is being made for heavier taxation. Increased taxation is inevitable, and already. many companies have disclosed lower net profits because of the recognised need for stronger taxation reserves, while individuals are cutting down income expenditure in order to make similar pro-, vision.

Soule significance attaches also to the fairly general inclination on the part of those who find it. difficult to assess the future developments, to keep a greater proportion of their assets in a liquid state than is generally the case, thus reducing savings and ultimately the amount available for investment.

MINES AND METALS REPORTS AND RETURNS GREY RIVER For the»week ended February 6, the Grey River Dredge recovered 8350 z in 126 hours from 84,093 yards. The January total was 1,8310 z from 394,691 yards.' MATAKI JUNCTION The Alataki Junction return for the week ended February 9 was 19oz of gold for 134 hours’ dredging, in which 11,800 yards were treated. BIG RIVER REPORT \ The report for the week ended February. 8 of Big River Gold Mines Ltd. states; No. 5 level —North Stope: Filling not yet completed. No. 6 level— South Block: Stone slightly longer and wider. Length 14ft, width 6ft. Level: Commenced to advance this level south. Shaft: Sunk sft. Total 107 ft. Battery; 31 tons of stone sent to iTattery. NEMONA RETURN The N ernona Gold Dredging Company's return for the week ended February 9 was 230 z for 132 hours from 5,200 yyicis. WORKSOP EXTENDED The Worksop Extended Gold Dredging Company’s return for the period ended February 9 was 320 z for 145 hour* from 10,900 yards. OKARITO RETURN The Secretaries of the Okarito Five Milo Beach Gold Dredging Co. Ltd. report. a return of 6oz 17clwt as the result, of 106 hours’ dredging. The dredge is not yet clear of the channel through the sandhills, and during the week no solid ground was dug.

DUNEDIN STOCK EXCHANGE

THIS MORNING S CALL LATEST QUOTATIONS

AUSTRALIAN STOCK EXCHANGES Preu Association—By Telegraph—Copyright SYDNEY, February 12. Investment business was generally quiet on the Stock Exchange to-day. MORNING SALES.

Buyers. Seller .. £ S. d. £ s. d. N.Z. GOVERNMENT LOANS— 4 p.c. Stock, March, 194043 101 0 0 — 4 p.c. Bonds, 194346 102 0 0 — 4 p.c. Stock, 1945-46 102 0 0 — 4 d.c. Bonds, 1946-49 101 10 0 — 4 p.c. Stock, 1946-49 101 10 0 — 4 p.c Stock, Nov.. 1949-52 101 5 0 — 4 p.c. Bonds, 1952-55 101 7 6 — 4 p.c. Stock, 1952-55 101 7 6 — 4 p.c. Stock, 1954-58 101 0 0 — Rural Bonds ... ... 100 0 0 _ ll.'.N KING— Australasia (£5) 9 10 0 — New Zealand (£1) ... , 2 1 6 New Zealand, Long “D ”• (£!) 1 6 6 — Commercial (10s) 0 16 3 0 16 8 E.S. and A. (£3) ... 4 18 0 — National of New Zealand (£2 10s) 2 14 9 2 15 9 INSURANCE— National (7s) 0 18 10 — New Zealand (£1) ... 2 19 9 — South ■ British (£1) ... 2 9 6 2 10 0 Standard (£1) 3 1 9 — MEAT PRESERVING— N.Z. Refrigerating (paid, £1) ... ... — 1 0 0 LOAN AND AGENCYNational Mortgage (£2) 1 15 0 — National Mortgage ("B ” Issue, £1) ... 1 3 8 — Perpetual Trustees ■ <18s) ... 2 7 0 — Wright, Stephenson (pref., £1) — 0 18 9 COAL— Kaitangata (16s) ... 1 11 0 — Westport (10s) 1 4 0 — VVestport-Stockton (pref., 10s) 0 8 0 0 8 9 OIL— Taranaki (£1 4s 7d) 0 5 4 — WOOLLEN COMPANIES— Bond’s Hosiery (£1) 1 3 9 Bruce (ord., £1) 0 16 0 — Bruce (pref., £1) ... 0 19 6 — Kaiapoi (ord., 17s) ... 0 13 6 — Kaiapoi (cont., 7s) ... 0 4 0 — Kaiapoi (pref., 17s) ... 0 16 6 — Manawatu Knitting Mills (£1) 0 17 6 — Mosgiel (£4) ... ... 10 0 0 — MISCELLANEOUS— Australian Consol. Ind. (£1, 5s paid) — 0 19 0 Broken Hill Prop. (£1) 2 13 6 2 14 5 Dominion Rubber (£1) 1 3 6 — G. J. Coles (ord.. £1) — 4 3 3 Maeduffs Ltd. (ord.. £1) ... 0 4 0 — Milburn Lime ’and Cement (£1) 2 0 0 — National Electric (£1) — 0 18 3 jN.Z.-DrjJg Co.. (£2) 3 18 9 ■— N.Z. Farmers’ Fertiliser (£1) 0 18 3 — N.Z. Malay Rubber (pref., £1), old issue — 1 3 6 N.Z. Paper Mills (£1) 1 9 0 — ‘Otago Daily Times (£1) 2 0 0 — Wilsons Cement (10s) 0 19 3 0 19 6 Wool worths (drd., 5s) 0 17 0 — WoolWorths (Sydney, ord., os) 1 5 0 1 51 BREWERIES— Balliu’s .. 0 12 9 New Zealand (£1) — 1 17 6 OVERSEAS LIST— Woolworths (South Africa) 0 16 3 OVERSEAS MINING— Broken Hill South (5s> 1 12 6 1 13 6 Elabtrolytic Zinc (ord , £1) ,- 3 4 3 3 6 0 Emperor Mines, Fiji (10s) — 0 19 0 Mount Lyell (£1) ... 1 15 R 1 15 0 Mount Morgan (2s 6d) 0 9 10 0 10 3 Placer Development — 4 10 0 Rawang Tin (10s) 0 11 0 N.Z. MINING— Arahura 1 14 6 — Austral N.Z. (£1) 1 9 3. — Big River (Is) — 0 1 0 Clutha River (2s) ... 0 1 3 0 2 0 Gillespie’s (Is) — ,0 0 10 Grey River (10s ) ... 0 18 6 Kanieri ... 1 11 0 ' Mossy Creek (Is) ... — 0 1 0 Nokomai (5s) — 1 0 2 0 Okarito (5s> — 0 2 6 Paddy’s Point (5s) 0 0 6 — . Sandhills (Is) ... ... 0 0 o* 0 0 u Waitahu (5s) , __ 0 1 0

£ s. d’. Comm. Bank of Sydney 19 18 0 Australian Consol. Indus. 1 17 li British Tobacco (pref.) 1 7 9 Broken Hill Proprietary 2 9 0 David Jones ... 1 18 0 General Industries ... 0 17 4-i AFTERNOON SALES. £ s. d. Bank of New Zealand 1 1G G Bank of New South Wales 28 17 0 Goldsbrough, Mort ... 1 8 1 i Tooths 2 13 9 Arahura 1 14 0 Howard, Smith 1 5 U Associated News 0 16 3 Farmers 1 7 3 Mount Morgan 0 9 0 Woolworths 1 2 104 Adams 0 14 0 Kandos 1 8 9 MELBOURNE, February 1 2, £ s. d. Loloma 1 15 3 Mount Lyell 1 14 0 ‘ Herald ’ and ‘ Times ’ 2 18 0 Millaquin Sugar o 3 6 Dunlop I’erdriau 0 19 10