Commerce, Mining, Finance

Evening Star, Issue 23501, 15 February 1940, Page 14

Commerce, Mining, Finance

STEADY MARKET CONDITIONS DOMINION INDUSTRIALS STILL EASIER DEMAND FOR KAIAPOI WOOLLENS Business was more active on tlio Stock Exchange this morning, the turnover embracing five sales, including four transactions completed late yesterday. Dominion industrials were still inclined to be a little easier, though there were only minor variations. Little change was noted in Government loans. Banking issues were quiet, but the insurance section was more active, with buyers dominating the market, except in the case of Nationals, which were steady at 18s lOd (buyer) and 19s Id (seller). Kaiapois led the market in the woollen section, and there were sales reported of both the preferential and ordinary issues. The prefs. fetched 16s 6d and the ordinary issue changed hands at 16s 6d, the market closing with a buyer offering the same price without any seller appearing. The Sydney issue of Woolworths had a sale at £1 5s 3d, and later a buyer came on to the market at £1 ss, a seller quoting £1 5s 6d. Australian mining was dull, but there was a reported sale of Mount Lyells at a firm figure. SALES REP OUTER. —This Morning.— . Placer Development; £4. 7s 6d. —Late Yesterday.— ...Kaiapoi - Woollen (ord.), 13s 6d. Kaiapoi Woollen (pref.), 16s Od. Woolworths (Sydney), £1 os 3d. Mount Lyell, £llss 6d. 4 per cent. Stock,' 1943-4(5,■ £lO2 12s 6d. 4 per cent. Stock, 1016-49, £lOl 17s 6d. Gear Meat, 14s. MINES AND METALS NICKEL, COPPER, AND ZINC CANADA'S BIG OUTPUT Extensive prospecting and development work occurred in Canada during the past year in connection with the search for metals and ores which have not as yet been produced to any great extent in the dominion, but are strategic for war purposes in the manufacture of various alloys. These include such metals as molybdenite, manganese, mercury, and tungsten. The Dominion Bureau of Statistics, in reporting the estimated mineral production of Canada in 1939, states that new output records were established for antimony, gold, eppper, zinc, nickel, cadmium, crude petroleum, natural gas, gypsum, sulphur, and lime. Several new gold mines reached the productive stage, and the gold productive field was widened. Likewise, several new wells were brought into production in the Alberta petroleum field. " In the output of refined copper, nickel, lead, and zinc,” the report says, “ Canada is now in a better position to assist in the successful prosecution of the war than at the outbreak of the World War in 1914. In fact, since that time, large refineries have been established in the dominion for the production of these metals.” Canada’s annual mineral production, valued at £95,000,000 in 1939, reached an all-time record with an increase of 6 per cent, over 1938 and 3 per cent, over the previous high record established in 1937. Metals as a group showed an increase of 5 per cent, over 1938, fuels increased by 9 per cent., non-metallics other than fuels by 21. per cent,, and structural materials by 5 per cent. The official estimates of production of the principal minerals in Canada in 1939, together with figures for 1938. <<re ’ 1938. 1939. Gold (fine oz) ... 4,725,117 5,045,766 Silver (fine oz) ... 22,219,195 22,775,374 Nickel (lb) 210,572,753 227,089,730 Copper (lb 571,249,664 606,705,278 Lead (lb) ... ... 418,927,660 391,499,038 Zinc (lb) ... ... 381,506,588 394,955,897 Other metals (dollars) 2,133,622 3,393,000 Crude petroleum (barrels) 6,966,084 7,743,300 Asbestos (tons) ... 289,793 353,151 The classification “ other metals,” includes arsenic, bismuth, cadmium, sobalt, molybdenite, selenium, tellurium, and titanium in 1938, and, in addition, in 1939, manganese ore, mercury, tungsten ore, and iron ore. MINING NEWS WORKSOP EXTENDED A dividend, the fourteenth, of 10 per cent., free of income tax, has been declared by the Worksop Extended Gold Dredging Company Ltd. (West Coast), payable on February 19. This / represents a distribution of £1,600 to .shareholders. The sum of £l6O has been placed to the general reserve fund, which now stands at £2,240. RAPID APPRAISEMENT AUSTRALIA'S HIGH RETURN The pace at which wool is being appraised iu Australia exceeds the volume of sales effected in the corresponding period last season on the open market. By Easter 2,734,000 bales will have been appraised. The total sold to the end of March last season was only 2,476,028 bales. The increase will bo recorded in spite of the fact that a month’s activity was lost because of the absence of appraisements in September, Winchcorabe, Carson Limited reports. As a result of the large weights of wool being shorn, growers are securing excellent returns. In cases exceptional figures arc reported, some owners stating that their clips produced results ranging up to 15s a grown sheep. Most producers’ returns are below that high mark, but the results show the benefit which a good growing season means to the sheep industry.

DUNEDIN STOCK EXCHANGE THIS MORNING'S GAIL LATEST QUOTATIONS Buyers. Seller s. £ s. d. £ s. d. N.Z. GOVERNMENT LOANS4 p.c. Stock, March, 194043 101 0 0 4 p.c. Bonds, 19434 6 (ox div.) 100 0 0 — 4 p.c. Slock, 494346 (ex div.) 100 0 0 — 4 p.c. Bonds, 194649 101 10 0 — 4 p.c. Stock, 194649 101 10 0 — 4 p.c Stock, Nov,, 1949-52 101 5 0 — 4 p.c. Bonds, 1952-55 101 5 0 — 4 p.c. Stock, 1952-55 101 5 0 — Rural Bonds 100 0 0 — BANKINGAustralasia (£51 9 15 0 — New Zealand (£1) ... 2 13 2 1 9 New Zealand, Long “D” (£1) 1 6 0 — Commercial (10s) 0 16 3 0 16 8 National of New Zealand (£2 10s) ... 2 5 0 INSURANCE— National (7s) 0 18 10 0 19 1 New Zealand (£1) ... 2 19 6 — South British (£1) ... 2 9 0 — Standard (£1) ... ... 2 12 0 — SHIPPING— P. and O. Deferred .Stock (£1) 1 6 0 — U.S.S. Co. (pref., £l) 16 0 — MEAT PRESERVINGN.Z. Refrigerating (ex div.) 0 19 0 — N.Z. Refrigerating (cont., 10s, ex div.). 0 8 8 — Southland Frozen (paid, £1) 1 11 6 1 13 6 LOAN AND AGENCYNational Mortgage (£2) ... 1 15 0 — National Mortgage (" B ” Issue, £1) ... 1 3 6 — Trustees Executors and Agency (£3) ... 4 2 6 — Wright, Stephenson (pref., £1) 0 18 9 COALWestport (10s) 1 4 0 — Westport-Stock ton (pref., 10s) — 0 8 0 OILTaranaki (£1 4s 7d) 0 6 0 — GASChristchurch (£1) .,. 15 3 - WOOLLEN COMPANIESBond’s Hosiery (£1) 1 4 0 — Kaiapoi (ord., 17s) ... 0 13 4 — Kaiapw (pref., 17s) 0 16 6 ' — Manawatu Knitting Mills (£1) 0 17 6 — Mosgiei (£4) 10 0 0 — MISCELLANEOUS— Australian Consol. Ind. (£1) — 2 4 0 British Tobacco (£1) 2 13 0 . . Broken Hill Proprietary (£1) 2 13 0 2 14 0 D.I.C. (ord., 10s) ... O il 9 — D.I.C. (pref., £1) ... 1 2 0 — Dominion Rubber (£1) 1 3 6 — Donaghy’s Rope and Twine (£1) 2 12 6 — G. J. Coles (ord., £1) — 4 3 3 Hume Pipe (£1) — 0 19 9 Macduffs Ltd. (ord.. £1) 0 4-4 — Milburn Lime and Cement (£1) 2 0 0 — M‘Leod Bros. (£10) ... 26 10 0 27 10 0 National Electric (£1) — 0 16 3 N.Z. Farmers’ Pertiliser (£1) 0 18 3 N.Z. Malay Rubber (pref., £1), — 1 3 6 N.Z. Paper Mills (£1) 1 9 0 — ‘Otago Daily Times ’ (ex div., £1) 1 19 0 — Smith and Smith (pref., £1) 0 18 6 — Woolworths (ord., 5s) 0 17 3’ — Woohvorths (Sydney, ord., 5s) 1 5 0 -1 5 6 Woolworth Properties (ord., £1) 1 5 3 ( ~ BREWERIES- , Baltin’s . 0 12 9 — New Zealand (£11 ... 1 17 0 1 17 3 Tooths (£1) 2 17 0 — OVERSEAS LISTWoolworths (South Africa) — 0 18 3 OVERSEAS MINING— Broken Hill South ■ (5s) 1 12 0 Electrolytic Zinc (pref., £1) 3 4 6 — Electrolytic Zinc (ord., £1) 3 4 3 — Mount Lyell (£1) . 1 15 3 Mount Morgan (2s 6d) 0 9 11 0 10 3 Placer Development — 4 10 0 Rawang Tin (10s) 0 11 0 N.Z. MININGArahura 1 17 0 _ Austral N.Z. (£1) ... 19 0 — Barrytown (£!)■ 1 6 6 — Big River (Is) ... 0 1 0 Clutha River (2s) 0 1 3 — Gillespie’s (Is) - 0 0 10 Grey River (10s) 0 19 0 — Martha (5s) — 0 9 6 Mossy Creek (Is) ... — 0 I 0 Nokoraai (5s) — 0 2 0 Okarito (5s> — 0 2 6 Paddy’s Point (5s) 0 0 6 — Waitabu (5s) — 0 1 0 Xgalicrc? ... ... ... 17 6 — Waihi Investments 0 8 0 DIVIDENDS AND CALLS. The following is a list of shares rn which dividends will shortly be payable: — Woolworth (Sydney), 1st pref— 10 d.c. p.a Feb. 15 Woolworths (Sydney), 2nd pref. —7 p.c. p.a Feb. 15 Christchurch Gas, final, 4 p.c. ... Feb. — Electrolytic Zinc. ord. and pref.— Interim. 12 p.c. p.a. Mar. 15 CALLS. Woolworth Properties, new final. 10s a share Feb. 29 Dunedin Brewery and Wilson Malt Extract Co. Ltd,, Inal call, 5s per share ... Mar. 1 A.C.I., new, 5s a share Mar. 31