Commerce, Mining, Finance

Evening Star, Issue 23834, 14 March 1941, Page 9

Commerce, Mining, Finance

DUNEDIN STOCK EXCHANGE LATEST QUOTATIONS

DIVIDENDS AND CALLS. The following is a list of shares on which dividends will shortly be payable:— .Electrolytic Zinc—lnterim, pref. i and ord., 6 per cent Mar. 14 ) llilburn Lime—lnterim. 3J per r cent. Mar. 18 Huddart, Parker—Half-yearly; 3 ' per cent, (pref.), 7 per cent. (ord.) Mar. 22 Arahura Gold—Third, Is a shave Mar. 22 Dank of Australasia Final, _9 per cent, per annum, less British income tax Mar. 28 British Tobacco —Interim, 2 per cent :. Mar. 31 Hume Pipe—lnterim, 3J per cent. . (pref.) and 2 per cent, (ord.) Mar. 51 Dunlop Rubber —Final, ord, 7 per cent.; pref., 10 per cent. Mar; 31 Pelt and Textiles —Interim, ord., 10 per cent, per annum; cont., a share April 1 Howard Smith—s per cent, per annum April 3 Woolworths (Sydney)—lnterim, per cent April IS m SUGAR RATIONING RUMOURS MISCHIEVOUS [Pan United Press Association.] WELLINGTON, March _ 13. Persistent rumours that the rationing of sugar was to be introduced in New Zealand were denied to-day by the Sugar Controller. Mr B. L. Dallard. “ I have heard the rumours but cannot conceive the reason for them, unless it is some form of sabotage,” he said. “ There is absolutely no warrant for them. Our stocks are good, and even if shipping were stopped wo would have enough in New Zealand to carry on for five and a half months. In addition, supplies have been arranged well forward, and advice two weeks ago waa that the crops were excellent. “ Any rumours of rationing are only mischievous,” Mr Dallard added.

THE RESERVE BANK WEEKLY STATEMENT [Per United Press Association.] WELLINGTON, March 13. The following is a statement of the assets and liabilities of the Reserve Bank as at the close of business on March 10: —Liabilities.— Mar. 3. Mar. 10.

MARKET FIRM GOVERNMENT LOANS IK DEMAND Although buyers displayed interest in most sections of the Dunedin Stock Exchange this morning little variation in quotation was noted. Government loans were even more strongly in demand than at any time this week, but bids remained at approximately late levels. A late sale was reported from yesterday of War Loan at £B2, and the bid was renewed immediately below that level. ... Bank of New Zealand continued to improve very slightly. Sellers monopolised the only two other banking issues quoted, asking J £4- 3.0 s for E.S. and A, and £1 3.7 s 6d for Nationals! Insurances were firm. The New Zealand Refrigerating (paid) offer was again reduced slightly without attracting bids. Woollens were steady. Broken Hill was firm at £2 Is (buyer) and £2 Is 6d (seller). Woolworths (Sydney) was firm. Breweries continued weak, and Australian mining shares drew no attention from investors. SALES REPORTED. —Yesterday.— War Loan, October, 1953 (late), £B2. New Zealand Refrigerating (paid). 18s. Broken Hill rights, 17s 3£d, 17s 4d, 17s 3d. v. Kauri Timber, £1 Is 9d. FRUIT REPORT HEAVY APPLE SUPPLIES Lovell Bates Ltd. report:— Large quantities of apples have been released, and sales have been stimulated aa a result of the substantial reduction in price made on Monday last—namely, 4s for commercial grade, 5s for fancy, and 6s for extra fancy. The prices are particularly low considering the quality of the fruit offering and stocks are being cleared daily. Dessert pears are being regularly distributed and nave a good demand. Consignments of strawberries are being received, and the prices obtainable are satisfactory. A consignment of passion fruit received from the North Island met with a good inquiry. Water melons are obtaining high values. Fair quantities of outdoor tomatoes are being consigned daily from Christchurch and Central Otago. Values have declined. All classes of vegetables are in fair supply. Prices are as follows: — Oranges, 21s to 31s 6d. Canadian lemons, 57s 6d. Apples.—Cox’s Orange. 6s, ss, and 4s; cooking. 5s 6d. Pears.—Dessert, 9s; cooking, large cases. 7s. Peaches, 4s 6d to 5s 6d a case. Nectarines, 7s 6d to 10s 6d. Plums, 6s 9d to 7s 6d. Strawberries, Is 8d to Is 9d. Rhubarb, Is per lb. Cucumbers, 3s to 4s 6d a dozen. Potatoes, 2s 6d to 3s a bag. Green peas, 3d to sid per lb. Cabbages, 4s to 5s a bag. Cauliflowers (choice), 5s 6d to 6s a bag. ■ Lettuces, 2s to 3s 6d a dozen. Carrots, 2s 3d a dozen. French beans, 5d per lb. Scarlet runners, 2|d to 3jd. Beetroot, Is 4d a dozen. Water melons, 4Jd per lb. Swedes, 2s 6d a case. Marrows, 7s cwt. Pumpkins, lid per lb. AUSTRALIAN STOCK EXCHANGES Press Association —By Telegraph—Copyright SYDNEY, March 13. The Stock Exchange was steady to-day. except for bank shares, which were marked down. Sydney Sales. —Bank of New South Wales, £26 6s; Commercial Bank of Sydney, £lB 18s; Bond’s Industries, £1 6s; Kandos, £1 13s; Standard Cement, £1; Henry Jones, £2 8s 3d; Mauri Bros., £3 8s; Fairymead, £1 13s 6d; John M’Grath, £1 9s; South Broken Hill, £1 4s 3d; Loloma, £1 3s 4d. Melbourne Sales.—Drug Houses, £1 7s 3d; Mount Lyell. £1 7s 4d; Emperor, 10s lid; Oil Search, 7s. GREY RIVER DREDGE [Per United Press Association.] WELLINGTON, March 15. The Grey River dredge return for the week ended March 12 was 258 ounces from 79,948 yards in 120 hours.

AUSTRALIAN MARKETS / Press Association —By Telegraph—Copyright SYDNEY, March 13. Tho wheat market is brighter. Silo grain is quoted at 3s Hid and bagged at 4s 3M. Flour, £l2 13s. Bran and pollard, £6. Potatoes: Tasmanian, £8; others, £6 10s. Onions; White, £ls; brown. £lO. Maize, 5s 6d. MINING NEWS AUSTRAL-NEW ZEALAND. [Feb United Press Association.] CHRISTCHURCH, March 14. The Austral-New Zealand mining return for the 14 days to March 8 shows the dredge produced 308 oz of bullion. A shortage of water still restricts running time. MOUNT MORGAN. fPtR United Press Association.] WELLINGTON. March 14. The Stock Exchange Association has been advised that the estimated working deficit for the four weeks ended March 5 at Mount Morgan was £5,181,

Buyers. Sellers. £ s d. £ s. d. N.Z. GOVERNMENT LOANSp.c* Stock, 1953-57 100 10 0 4 p.c. Stock, Mar., 194043 102 0 0 — 4 p.c. Bonds, 194346 102 10 0 — 4 n.c. Stock, 1943-46 102 10 0 —• 4- o.c. Bonds, 194649 104 0 0 — 4 p.c. Stock, 1946-49 104 0 0 — 4 p.c. Bonds. Nov. 30, 103 15 0 1948 4 p.c. Stock, Nov. 30, i948 103 15 0 — 4 p.c. Stock, Nov., 1949-52 104 5 0 — 4 p.c. Bonds, 1952-55 104 10 0 — 4 p.c. Stock, 1952-55 104 10 0 — 4 p.c. Bonds, 1954-58 104 10 0 — 4 p.c. Stock, 1954-58 104 10 0 — War Loan, October, 1953 81 15 0 —* BANKING— ' / New Zealand (£1) ... 2 1 8 2 2 0 E.S. and A. (£3) — 4 10 0 National of New 1 17 Zealand (£2 10s) ... 6 INSURANCE— • National (7s) 0 19 4 New Zealand (ill) ... 3 2 9 — Standard (£1) 3 0 0 SHIPPING— P. and O. Def. Stock (£1) U.S.S. Co. (pref., 1 4 0 — 9 £1) 1 6 —• MEAT PRESERVINGN.Z. Refrigerating 0 18 (paid, £1) — 3 N.Z. Refrigerating (cont., 10s) ... ’... 0 7 6 — Waitaki Farmers’ Freezing (£5) — b 0 0 LOAN AND AGENCY— Qoldsbrough, Mort (£1) - — 1 5 6 National Mortgage (“ B ” Issue, £1) 1 1 9 —• N.Z. Guarantee Cerp. (3s) 0 2 9 0 3 2 Trustees, Executors, and Agency (£3) 4 2 0 •— Wright, Stephenson 0 19 6 (pref., £1) COAL— Kaitangata 1 10 0 — Westport ... — 1 5 9 Westport-Stockton (pref.) 0 6 3 0 7 0 OIL— Moturoa (pref., 5s) — 0 .5 0 WOOLLEN COMPANIES— Bruoe (ord., £1) 1 0 9 — Bruce (pref., £1) ... Kaiapoi (ord., 17s) 1 0 0 — 0 14 3 . Kaiapoi (cont., 7s) ... 0 4 7 0 5 MISCELLANEOUS— Broken Hill Pro6 6 prietary (£1) Broken Hill (rights) 2 1 0 17 0 0 2 1 0 17 Chas. Begg and Co. 1 1 0 — Crvstal Ice Co (£1) 2 5 0 — D.l.O. (pref., £1) ... 1 3 6 — Dominion Fertiliser (£1) 1 7 6 — Dominion Rubber (£1) 0 15 0 1 0 0 Donaghy’e Hop© '‘a 14 and Twine (£i) ••• — 6 Felt and Textiles (£1) — 2 2 6 I.C.I. (pref., £1) ... Kauri Timber (£1 5s) • 1 4 0 — 1 1 6 — Macdufls Ltd. 0 19 (pref., £1) — 6 6 N.Z. Drug Co. (£2) N.Z. Paper Mills 3 19 (£1) ... 1 10 8 1 11 3 ‘ Otago Daily Times 1 18 (£1) — 0 Regent Theatre (£1) — 1 0 0 Woolworths (N.Z., 0 14 ord., 5sl — 3 Woolworths (Sydney, 0 17 0 17 ord., 5s) 6 9 BREWERIES— Ballin’s . 0 10 9 0 12 0 New Zealand (£1) ... — 1 11 6 Dominion ... 1 10 3 — Dunedin ... 1 0 0 1 3 6 OVERSEAS MINING— Electrolytic Zinc 2 13 • (ord., £1) — 0 Mount Morgan (2s 0 10 - 6d) —. 6 Wellington Alluvials 0 4 0 — N.Z. MINING— Big River (Is) — 0 1 2 Grey River (10s) ... 0 16 0 Maori Gold 0 0 3 — Nokomai (5s) — 0 2 0 Okarito (5s) ... ... — 0 2 0 UNLISTED STOCKS— All stocks in this section are not quoted on the official list, and transactions are subiect to a different rate of brokerage. Mackintosh Caley 0 10 Phoenix (£1) ... ... — 0 Mackintosh Caley Phoenix (15s paid) 0 6 S - Sclfridge’s (N.Z.) ... — 0 7 6 lit ago and Southland Finance ... 0 1 9

£ £ 1. General Reserve 1,500,000 1,500,000 2. Bank notes 21,264,283 21,201,496 3. Demand liabilities— 11,248,915 15,944,152 (b) Banks 15,296,234 10,473,919 (cj Other 395,703 591,350 4. Time deposits — — 5. Liabilities in currencies other than Mew Zealand currcncies 12,454 30,266 6. Other liabilities 1,070,378 1,068,632 Total ... £50,785,970 £50,809,817 —Assets.— 7. Reserve— 2,801,873 (a) Gold 2,801,873 (b) Sterling ex18,585,357 16,760,899 (c) Gold ex- — — 8. Subsidiary coin 61,498 62,789 9. Discounts— (a) Commercial and agricultural bills ... — (b) Treasury and local body bills — — 10. Advances— (a) To State or State undertakings— (1) Primary Produce Markcting Department 2,783,627 2,788,483 (2) For other 20,565,000 purposes ' (b) To other 25,040,000 public authorities (c) Other ... 11. Investments ... 3,777,974 300,000 3,779,263 12. Bank buildings — 1,927,049 13. Other assets ... 1,560,096 Total ...£50,785,970 £50,809,817 Proportion of reservo (No. 7 less No. 5) to notes and other 44.299 p.c. demand liabilities 40.558 p.c. Sterling exchange is expressed in New Zealand currency.