Commerce, Mining, Finance

Evening Star, Issue 23745, 28 November 1940, Page 7

Commerce, Mining, Finance

DUNEDIN STOCK EXCHANGE THIS MORNING'S CALL LATEST QUOTATIONS

DIVIDENDS AND CALLS. The following is a list of shares on which dividends will shortly be payable:— National Insurance—sd a share Nov. 28 Wilsons Cement —Half-yearly, 4£d a share "... Dec. 2 Dunedin Stock Exchange Proprietary —Interim, fid a share Dec. .2 Bank of New Zealand —Interim, ord. Is a share, Long D 3J per cent Dec. 7 North Broken Hill—ls a share ... Dec. 12 Henry Jones Co-operative—ls fid a share Dec. 16 Placer Development.—lnterim, 60 cents (Canadian), less ab- ' • sentee tax (Australian currency) Dec. 16 Eulolo Gold.—lnterim, 1.50 dollars (Canadian, as abovei ... Dec. 16 Palo Consolidated —Interim No. 4, 10 cents (Canadian) Dec. 18 Broken Hill South —ls a share ... Dec. 18 Mount Lyoll—ls 3d a share (Australian currency) .... Dec. 18

SHARE MOVEMENTS BREWERIES ALTER SLIGHTLY GOVERNMENT LOANS STEADY Late trends continued to develop slightly on the Dunedin Stock Exchange this morning. There were a few minor fluctuations among the Government loan issues, with War Loan comparatively firm at £BO ss. Among brewery shares there were a few alterations. Ballins, which were reported to have changed hands at 11s, were on offer at 12s. New Zealand, remained substantially the same. The bid for Dominions rose to £1 10s, and Dunedins were quoted at the advanced rates of £1 Is and £1 4s. The bid for the ordinary issue of Electrolytic Zinc fell to £2 14s. Big River mining shares were wanted at Is 2d. SALES REPORTED. —Yesterday.— G. J. Coles, £3 9s. N.Z. Breweries, £1 12s, £1 12s 3d, Electrolytic Zinc (ord.), £2 14s 3d. This Morning.— Dominion Fertiliser, £l'7s fid. Macduffs (ord.), 11s. Macduffs (pref.), 19s. Baltin's Brewery, 11s. MINING NEWS

Otago Farmers’ Co-operative Association—Annual, A prof. 5 3-5 per cent,; investment shares 5 per cent., ord. 5 per cent Dec. 19 E.S. and A. Bank—3£ per cent. ... Dec. 19 Dominion Breweries Ltd.■-■ln-terim, 5 per cent. (ord. and prof.) Dec. 90 N.Z. Loan and Mercantile—Annual, prof. 5 per cent., ord. 3 per cent, (less English income tax) iu tu in Dec. 30

BULOLO GOLD. For the month of October the total gross production of Bulolo Gold Dredging Ltd. amounted to 23,731 ounces of bullion containing 16,374 ounces of fine gold, from 1.765.000 cubic yards. (Estimated working profit was 8,066 ounces of fine gold. PLACER DEVELOPMENT SUBSIDIARIES For the three months to November 1, Palo Consolidated Gold Dredging Ltd. dredged 3,737,000 cubic yards for a recovery of 28,602 ounces of fine gold, and recovered with its hydraulic units 5,068 ounces fine gold, the value of the total production being U.S. 1,178,450.00 dollars. During the same period Asnazu Gold Dredging Ltd. handled 275.000 cubic yards, recovering 2,339 ounces fine gold equivalent to U.S. 81,865.00 dollars. PLACER DEVELOPMENT LIMITED. Interim dividends for the year ending April 30, 1941, totalling 60 cents (Canadian) a fully paid share, have been declared payable to shareholders registered on November 21, 1940. The dividend will be paid on December 16. Payment from Sydney office will be made in Australian currency, calculated at the rate of exchange ruling on November 23, 1940. Dividends payable to non-residents of Canada will be subject to Dominion of Canada absentee tax of 5 per cent. BULOLO DIVIDEND. Interim dividends for the year ending May 31, 1941, totalling Idollar 50 centS (Canadian) a fully paid share, have been declared payable 'to shareholders registered in the books of Bulolo Gold Dredging Ltd. at close of business on November 21, 1940. The dividend will be paid on December 16, under the same conditions as for Placer Development Ltd. PATO CONSOLIDATED. Cabled advice has been received that the directors of Pato Consolidated Gold Dredging Ltd. have declared interim dividend No. 4 of 10 cents (Canadian) a share, payable on December 18, to shareholders registered in .the books of the company at close of business on November 21 last.

NATIONAL INSURANCE ANNUAL MEETING The annua! meeting of the National Insurance Company of New Zealand Ltd. was held yesterday. Mr G. R. Ritchie, who presided, moved the adoption of the annual report and balance sheet, his remarks appearing in last night’s issue. Seconding the motion, Mr J. Sutherland Ross referred to the addition to the taxation and contingency account of £5,000, doubling it. “In these days .of taxation,’’ commented Mr Ross, “we never quite know where we are. We have already had word, since the balance sheet was issued to the Press, that Australian taxation for one thing is going to be very heavy indeed.” Mr Ross paid a tribute to the London staff for the way they were carrying, on with the work under conditions there. He read extracts from letters lately received. One point in these was that journeys which formerly took about 40 minutes now often occupied three hours or more. Employees leaving home at 8 a.m. could not get to the office before 11 a.m., and the office had to close down at 4 p.m. to allow them to make the journey home. The retiring directors, Messrs F. W. Mitchell and J. Sutherland' Ross, were reelected. Messrs E. R. Smith and H. H. Sykes were reappointed auditors. A vote of thanks to the directors, management, and staff was moved by Mr J. S. MTnnes and carried by acclamation.

AUSTRALIAN STOCK EXCHANGES i Press Association- -By Telegraph—Copyright SYDNEY, November 27. A general upward movement in prices occurred among industrials on ’Change today, and the turnover was fairly large. Morning Sales.—Tooheys, £1 9s; Tooths, £2 12s; Anthony Hordern (pref.), £1 0s 9d; Associated News, 14s 4d; Australian Paper, £1 12s 3d; Australian Consolidated Industries, £1 16s 9d; Cash Orders, 16s fid; Colonial Sugar, £4B 12s fid. Afternoon Sales.—Bank of Australasia, £8 8s; Commercial Bank of Australia, 14s fid; Colonial Sugar, £4B 15s; Dunlop Perdriau, £1 0s Id; David Jones, £1 15s fid; Felt Textiles, £1 18s 7d (cent., £1 6s 7d); Goldsbrough, Mort, £1 4s fid; Moris, Dock, 17s fid; United Provisions, 6s 3d; Carpenter, £1 16s; Loloraa, £1 6s; Oil Search, 4s lOd. MELBOURNE, November 27. ‘ Hctrald ’ and ‘ Times,’ £2 13s; Cox Bros., 7s 3d; Broken Hill Proprietary, £2 5s 3d; North Broken Hill, £2 0s 3d; Mount Morgan, 10s lid.

DIVIDENDS [Pisa United Press Association.] WELLINGTON, November 28. The Stock Exchange Association has been advised bye cable that the directors of Goldsbrough, Mort have declared an interim dividend of 2 per cent., payable at Melbourne on December 20. British Tobacco has declared a 2 per cent, final dividend and a 2 per cent, interim one, both payable on December 31.

FRUIT AND VEGETABLES IMPORTED VARIETIES SCARCE SMALL FRUITS IN QUANTITY Lovell, Bates Ltd. report:— An allocation of oranges was distributed on Friday last, and met with a keen inquiry. Bananas arc short of requirements, but ample supplies will be available for the Christmas trade. Lemons are in short supply, but the present shortage should be relieved in the course of tbe next few days. Fair quantities of dessert apples have been distributed, the varieties on offer being Delicious and Sturmers. Most lines arriving are of poor quality, and the demand is not keen. Cooking apples are unprocurable. Strawberries are now arriving in increasing quantities from Waimate, Central Otago, and Outram districts. The dry season has affected the growth, and tho quality is not as good as formerly. Values arc lower. Tomatoes are increasing in supply, - both from local hothouses and from Christchurch. Tbe first consignment of Nelson glasshouse-grown arrived during the week. Prices, though lower, are quite satisfactory to consignors. Larger quantities of cherries have been available, and values are on a par with last week’s rates. Cucumbers are on offer, and high values have been realised. Supplies of green peas have increased, and values are lower. Digging of new potatoes is now general, and heavy supplies have been arriving from Kakanui, Outram, and local growers. A sharp decline in values has taken place. Cauliflowers continue to realise good values, though supplies have increased considerably. The demand has lessened for spring cabbage, and values have declined. Good quality lettuces have a good inquiry, and values have been maintained. Carrots and white turnips have a good inquiry at slightly reduced rates. Gooseberry supplies are equal to the demand. Rhubarb is in short supply and high prices continue. Good quality spinach has a good inquiry at advanced rates. Asparagus is short of requirements, and good values arc being obtained for first quality. Table onions are short, and values remain high. Prices are: Bananas, 22s fid to 255. New Zealand lemons, 15s to 20s a case. Oranges, 18s to 28s fid. Cherries, lOd to Is 4d per lb. Strawberries, Is to Is fid a pottle. ' Cucumbers, 10s to 12s a dozen. Nelson tomatoes, lid per lb. Grapefruit (N.Z.), 19s fid. Tree tomatoes, 12s. Apples.—Delicious, 6s fid to 10s; Sturmer, 8s fid to 11s. Hothouse tomatoes. —Local, Is 8d to Is 9d: Christchurch, Is 4d to Is 7d. Asparagus, 8s fid to Jls. Spinach, Is fid to 2s fid a dozen. Potatoes. —Local, 2|d to 3d; Nelson, to 2d. Gooseberries, 3d. Green peas, 3d to 3jd per lb. Onions, 22s a bag. Spring cabbage, 3s a case. Cauliflowers (choice), 6s fid to 8s a case. Lettuce, Is fid to 2s fid a dozen. Carrots, 2s 8d to 3s a dozen; 2s a bag. Broad beans, 3d per lb. Beetroot, Is 4d a dozen. Parsnips, 3s a bag. Celery, Is a bundle. Rhubarb, 2d to 3d per lb. White turnips, Is fid a dozen.

COMPANY NEWS DOMINION BREWERIES LTD. The directors of the Dominion Breweries Ltd. have declared an interim dividend of 5 per cent, on preference and ordinary shares, payable on December 20. WAITAKI FARMERS' FREEZING, The Stock Exchange received advice that the total for appropriation by tho directors of the Waitaki Farmers’ Freezing Company Ltd. was £9,562 15s 2d, including the amount brought forward (£1,518 16s sd). The directors recommend a 6 per cent, dividend, absorbing £5,757 7s Bd, leaving a total to be carried forward of £3,805 7s fid.

Buyers. Sellers £ s. d £ s. d. N.Z. GOVERNMENT LOANS— 3i- p.c. Bonds, 1953-57 101 0 0 — 3-1 p.c. Stock, 1953-57 101 0 0 — 4 p.c. Stock, March, 194045 101 0 0 — 4 p.c. Bonds, 194649 103 0 0 — 4 p.c. Stock, 194649 103 0 0 — 4 p.c. Bonds, Nov. 30, 1948 104 10 0 — 4 p.c. Stock, Nov. 30, 1948 104 10 0 — 4 p.c. Stock, Nov., 1949-52 104 5 0 ■ — 4 p.c. Bonds, 1952-55 106 0 0 — 4 p.c. Stock, 1952-55 106 0 0 — 4 p.c. Bonds, 1954-58 107 0 0 — 4 p.c. Stock, 1954-58 107 0 0 — War Loan, October, 1953 80 5 0 — BANKING— New Zealand (£1) ... 2 0 0 — New Zealand, Long “ D ” (£1) 17 6 — E.S. and A. (£3) ... — 5 0 0 National of N.Z. (£2 10s) ... — 1 18 0 Union of Australia Ltd.' (£5) 6 19 0 __ INSURANCE — -National (7s) 0 17 9 — South British (£1) ... 2 9 0 — Standard (£1) ... ... 2 18 3 — SHIPPING — P. and O. Dof. Stock (£1) 1 4 0 — U.S.S. Co. (pref., £1) 1 6 6 — MEAT PRESERVING— N.Z. Refrigerating (paid, £1) 1 0 0 — N.Z. Refrigerating (cont., 10s) 0 9 4 — Southland Frozen (paid, £1) — 1 16 0 South Otago Freezing (£5) 5 0 0 Waitaki Fanners’ Freezing (£5, cum div.) 4 15 0 5 5 0 LOAN AND AGENCY— Dalgety (£5) — 6 17 6 National Mortgage (“ B ” Issue, £1)' 10 0 — Perpetual Trustees (18s) 2 10 6 — Trustees, Executors, and Agency (£5) ... 4 2 0 — Wright, Stephenson (ord., £1) — 0 19 6 Wright, Stephenson (pref., £1) 10 0 — COAL— Westport 1 2 3 — Westport-Stockton (ord.) ... .„ 0 2 0 — OIL— Moturoa (pref., 5s) ... — 0 5 0 Taranaki Oil Development (cont.) — 0 4 6 WOOLLEN COMPANIESBond’s Hosiery (£1) 1 9 0 Bruce (ord., £1) 0 19 9 — Kaiapoi (ordr, 17s) ... 0 13 9 — MISCELLANEOUS— Broken Hill Proprietary (£1) 2 5 3 2 6 0 Ghas. Begg and Co. 110 — Crystal lee Co. (£1)' 2 2 0 — D.I.C. (pref., £1) ... 1 2 3 , — Dominion Fertiliser (£1) — 17 6 Dominion Rubber (£1) — 13 0 Donaghy’s Rope and Twine (£1) 2 14 0 — G. J. Coles — 5 10 0 Macduffs Ltd. (ord., . £D 0 10 10 — Macduffs Ltd. (pref., £1) ... 0 18 9 — Milburn Lime and Cement (£1) — 2 0 0 M'Kenzies Dept. Stores (£1) 2 4 9 — M’Leod Bros. Ltd. (£10) 26 0 0 27 15 0 National Electric (£1, cum. div.) ... 0 17 9 N.Z. Drug Co. (£2) 3 16 9 N.Z. Drug Co. (cont.) 1 16 6 — N.Z. Paper Mills (£1) 19 3 — ‘ Otago Daily Times ’ (£1) — 2 0 0 Regent Theatre (£1) 0 18 6 10 0 Smith and Smith (pref., £1) 0 18 9 Southland Ice Cream — 14 6 Woolworths (N.Z., ord., 5s) 0 15 3 0 16 0 Woolworths (Sydney, ord., 5s) — 0 18 0

BREWERIES— Ballin’s 0 12 0 New Zealand (£1) ... 1 12 3 1 15 0 Dominion 1 10 0 Dunedin ... 1 1 0 14 0 OVERSEAS MINING— Electro. Zinc (ord., £1) 2 14 1 0 Mount Lycll (£1, cs div.) 1 9 0 Mount Morgan (2s 6d) 0 10 5 North Broken Hill (5s) 2 0 0 Rawang Tin (10s) ... — 0 8 0 Now Broken Hill ... 0 15 0 N.Z. MINING— Austral N.Z. (£1) ... 1 11 0 Big River (Is) 0 1 2 Clutha River (2s) ... 0 1 8 0 2 3 Gillespie’s (Is) — 0 0 6 Molyneux River (2s) 0 0 6 Okarito (5s) 0 1 0 Sandhills (Is) _ 0 0 L Waitahu (5s) 0 0 6 0 0 9 UNLISTED STOCKS— All Stocks in this section arc nol dueled on tli© official list, and transactions are sul)ject to a different rate of brokerag :— Mackintosh Caley Phoenix (£1) 0 8 3 0 9 3 Selt'ridge’s (N.Z.) ... 0 4 6 Dunedin Ice Cream 1 7 6 Otago Farmers’ (cum. pref.i 1 0 0 Otago and Southland Finance 0 2 0 Otago Farmers’ ord.) 0 1 6 _