Commerce, Mining, Finance

Evening Star, Issue 23908, 11 June 1941, Page 5

Commerce, Mining, Finance

DUNEDIN STOCK EXCHANGE

LATEST QUOTATIONS

AUSTRALIAN STOCK EXCHANGES Press Association —By Telegraph —Copyright SYDNEY, June 10. Yesterday’s improvement in the share market was well maintained to-day, price rises far e.a-eeuing the falls. Morning Sales. -Commercial Bank of Australia, 13s Id: Australian Gas (A), £4 17s; Burns, Philp, £2 9s 6d; Electrolytic Zinc, £2 13s 3d; Henry Jones, £2 8s 6d. Afternoon Sales.—Bank of New South Wales, £26 10s; Mercantile Mutual Insurance, £1 9s 3d; Bond’s Industries, £1 6s 6d; Bond’s Industries (rights), 5s sd; Mort’s Dock, 19s 6d; Mark Foys, £1 9s 6d; Wilcox, Mofflin, 9s; Broken Hill Proprietary, £1 19s 3d; Rawang, 8s 2d; Bulolo, £4 15s; Emperor, 10s; Oil Search, 6s Id. MELBOURNE, June 10. National Bank (£lO paid), £ll 10s; National Bank (£5 paid), £5 12s; Carlton Brewery, £3 0s 3d; Australian Foundation Investment Trust, 3s 3d; Emperor, 9s 9d; Loloma, £1 3s; Broken Hill Proprietary, £1 19s 3d; South Broken Hill, £1 2s 9d. FELT AND TEXTILES LTD. The directors of Felt and Textiles of Australia Ltd. have declared a dividend on the 6 per cent, second preference shares for the half-year ending June 30, payment to be made on July 1 next. MINING NEWS NEMONA RETURN. The Nemona Gold Dredging Company Ltd.’s return for the week ended June 7 was 14oz in 102 hours (7,300 yards). ALEXANDER RETURN. The Alexander Mines Ltd.’s return for the month of May was: Battery department, 206 tons of ore crushed for 86oz 7dwt of melted gold. Cyanide department, not cleaned-np. In addition, 5.5 tons of concentrates were saved, valued at £176. In estimating the above values gold has been taken at 160 s a fine ounce. NOKOMAI WASH-UP, The secretary of the Nokornai Gold Mining Company Limited reports that the final wash-up of the present paddock took place last Saturday. The return from this wasliup was 2130 z 2dwt, which, added to the previous partial return of 4660 z lldwt, resulted in a total return of 6790 z 15dwt for the completed paddock, which measured a little under a third of an acre of bottom.

LIVELIER TONE PRICES MAINLY UNCHANGED There was a livelier tone on the Dunedin Stock Exchange this morning than has been evident tor some time past, but for the most part prices were unchanged Business ' reported was small, but quotations were more frequent. Perpcivai Trustees were ex dividend this morning, with a bid at £2 10s. The Farmers J lading shares were also ex dividend. y, lls “ tralian mining was in demand. Altogether there was little variation from late trends. SALES RETORTED. —On ’Change.— Mount Morgan, 9s. —This Morning.— 4 per cent. Stock, 1946-49, £lO3 10s/ FIRM SOUTHLAND SALE IMPROVED STOCK PRICES (P.A.) INVERCARGILL, June 10. The entry ot fat cattle at the Lornevdle stock sale to-day was very small, and consisted mainly of aged and unfinished cows. Comi etition was keen for all classes, and a general improvement of about £1 10s a head was recorded. Prime heavy-weight bullocks made from £ls 10s to £l6 lbs, mediumweights £l3 10s to £l4 10s. handy-weights £l2° to £l3, and light and unfinished £9 to £lO 10s; good quality cows realised £lO to £lO 15s, medium £8 bs to £9 ss, aged £4 10s to £5 10s; good - quality medium-weight heifers £lO to. £lO 15s, light-weights £9 to £9 15s, and small £7 15s to £8 ss. There was another full yarding of tat sheep that were of good quality. The sale was a sound one from beginning to end, with values for all classes firm at fid to 9d a head belter than last week. Prime heavy wethers brought from 28s to 30s, med.umweigiits 26s to 27s fid, light-weights 24s to 255, unfinished 21s to 235, good butchers ewes 14s to 15s 9d; medium quality 12s fid to 13s fid, unfinished 10s '6d to 11s 3d, and freezing ewes 14s to 17s. The entry of fat lambs included some pens of good quality sorts. Competition was keen from export buyers, and prices were up to the full export schedule rates. BANK OF NEW SOUTH WALES 80TH ANNIVERSARY IN NEW ZEALAND To-day signified another important milestone in the history of the Bank of New South Wales in New Zealand. Eighty, years ago to-day the bank first opened for business in New Zealand in the Oriental Bank Corporation’s premises, Auckland. Branches were subsequently opened at Lyttelton on July 18, 1861, Christchurch on July 19, Invercargill on July 24, Dunedin August 8, Wellington September 2, and Wanganui on September 3, all of the same year. The early history of the bank was largely concerned with developments in the South Island, as the Maori wars, which began in 1860, checked pastoral expansion in the North. Indeed, the North Island was so disturbed in 1863, only two years after the Auckland branch was opened, that there was grave danger of Auckland itself being attacked by the Waikato Maoris. In such conditions the scope for banking services was limited, so it is not surprising that no branches were permanently added to the original three in the North Island until 1873. GOLD RUSH PERIOD. Business, howevey, increased rapidly in the South Island, especially during the gold rushes in Otago and Westland. Branches and agencies were quickly opened to meet the very necessary gold buying service to miners. Although gold buying on the whole was profitable to the bank, yet keen competition from other banks kept charges low and the risk of loss was always considerable. On two occasions the bank lost substantial amounts by highway robberies on the West Coast. It is also said that the notorious gang responsible for the Maungatapu gold robbery had planned to rob the Bank of New South Wales in Nelson before they were arrested in 1866. Conditions in New Zealand improved from 1900 onwards, until the outbreak of war in 1914. Rising prices then encouraged greater production, facilitating the change-over from extensive farming to the more intensive and profitable dairy and mixed farming. The Bank of New South Wales contributed its full share towards the progress niade during this period, increasing its business and expanding its services. Between 1900 and 1914 the nurnben of branches# in New Zealand increased from 35 to 52, most of the new branches being in the rapidly-developing dairying districts in the North Island. From a very small beginning—the first ledger of the Bank of New South Wales, still in existence, shows that when it first commenced operations at Macquarie Place, Sydney, in 1817, its paid-up capital amounted to £3,625 the bank is now the oldest .and largest bank in Australia and New Zealand, and ranks thirteenth among the banks in the British Empire. , Capital and reserves now amount to £14,930,000, and total assets exceed £143,000,000. The first president of the bank was Mr J. T. Campbell, a position now occupied by Mr R. W. Gillespie. The present general manager. Sir Alfred C. Davidson. K.H.E., has held the chief executive position since 1929. and tlie bank’s activities in New Zealand are under the charge of Mr R. C. Addison. The Dunedin branch of the bank was first under the managership of Mr John A. Douglas, who was transferred from Sydney in 1861. The present manager is Mr'J. R. 11. Caiman.

Buyers. Sellers. £ s. d. £ a. d. N.Z. GOVERNMENT LOANS— 3i p.c. Bonds, 1953-57 1Q1 0 0 — 34 p.c. Stock, iyi>3’b7 101 0 0 — 4 p.c. Bonds. 1943-46 102 0 0 — 4 p.c. Stock. 1943-46 102 0 0 — 4 p.c, Bonds, 194b-4y 103 0 0 — 4 p.c. Stock, 1946-49 103 5 0 — 4 p.c. Bonds, 1948 ... 102 0 0 — 4 d.c. Stock, 1948 ... 102 0 0 — 4 p.c. Bonds, 1952-bo 106 0 0 — 4 p.c. Stock, 1952-55 106 0 0 — War Loan, 1953 83 0 0 BANKINGNew South Wales ... — 28 0 0 New Zealand (£1) — 1 17 0 Commercial (10s) 0 13 10 U 14 0 National of N.Z. .., — 1 14 6 Natl, of A/asia (coiit.) — b lb 6 Union 6 10 0 6 12 6 INSURANCE— National (7s) 0 18 5 0 18 8 New Zealand 3 2 6 — South British 2 11 9 - — Standard (£1) 3 0 0 ” SHIPPINGP. and 0 Stock ... 1 5 0 — U.S.S Co. (pref.) ... 1 6 0 ’ MEAT PRESERVING— N.Z. Refng. (paid) 0 16 6 — N.Z Refrig, (cont.) 0 7 2 — 0 Waitaki _ 4 lb LOAN AND AGENCYNat. Mortgage (£2) 1 15 0 Nat. Mortgage (B) ... — Loan and Mercantile 26 10 0 — Perpet. Trustees (ex) 2 10 0 Trustees Executors ... 4 2 0 W.S. and Co. (ord.) — 6 o iy . W.S. and Co. (pref.) 0 19 GAS. COAL. AND OIL — Auckland Gas 0 5 6 — 0 Kaitangata X XZ Westport — \ Stockton (pref.) — 0 Moturoa (pref.) 0 5 WOOLLEN COMPANIES— Bruce (ord.) ... ... 1 1 0 — Bruce (pref.) 1 0 3 Kaiapoi (ord.) 0 15 3 0 10 0 “ Kaiapoi (cont.) ... -.. Mosgiel (£4) Timaru (£7) u 4 10 10 .15 0 3 Wellington (pref.) ... 6 lb 0 MISCELLANEOUS— A.C.I. (£1) ... 2 3 0 — British Tobacco (pref.) 1 10 6 — Broken Hill 2 2 0 — 9 Brown, Ewing (pref.) — 1 1 Chas Begg 1 1 0 " Consolidated Brick ... — 0 0 7 Crystal Ice ... 2 7 D.I.C (pref.) 1 3 9 — Dom. Fert. (£1) — 1 5 Dom. Rubber (£1) ... — 1 0 0 Donaghy’s Hope Farmers’ Trading ... 2 10 0 2 12 6 0 18 6 1 u Milburn Lime — 6 1 if 9 National Electric ... .. 0 19 1 0 6 Farmers’ Fort, (pref.) ; 1 2 0 Paper Mills ... ... ... I 10 3 1 11 0 Regent Theatre '... ... 0 18 0 0 19 6 Wilsons Cement 0 18 9 Woolworths (N.Z.), ord. ... — 0 13 4 Woolworths (N.Z.) pref. ... ... ... Woolworths (Sydney) .. 1 16 3 0 15 11 0 16 3 Woolworths Properties 1 4 0 — BREWERIES— Baffin's ... 0 10 0 — New Zealand . ... ... 1 11 0 1 11 9 Dominion 1 8 6 — Dunedin ... — 1 1 9 OVER-SEAS MINING— Broken Hill South ... 1 2 0 — Electro. Zinc (ord.) ... 2 12 0 — Electro. Zinc (pref.) 2 14 0 Mount LyeJI — 1 8 0 Mount Morgan (2s 6d) 0 8 10 0 9 2 North Broken Hill ... 1 15 0 — N.Z. MINING— Gillespie’s 0 0 1 — Okaritd (5s) 0 0 10 UNLISTED STOCKS— All Stocks in this section are not quoted on the official list, and transactions are subject to a different rate of brokerage Mackintosh (£1) 0 10 0 0 12 6 Otago, and Southland 0 8 Finance * ... i — J. J. Niven ... 0 8 4 —