Commerce, Mining, Finance

Evening Star, Issue 23968, 20 August 1941, Page 2

Commerce, Mining, Finance

GOVERNMENT LOANS CHANGE HANDS INSURANCES FIRMER Again this morning the Government loan section wis dominated by buyers, but a number of sales of stock were reported at higher prices than those ruling to-day. A buyer of tho National Development Loan came forward at £IOO, at which figure there was a sale at tho beginning of the month, but no seller was attracted. In banks the long “ D ” issues of New Zealands were slightly firmer, but Commercials were easier on buyers’ quotation. Insurances showed a general, firming tendency. Nationals, New Zealands, and South British all having a strong demand, with no response. New Zealand Refrigerating (cont.) were reported to have changed hands at 8s 9d, and the closing quotes in a oloso market were 8s 6d buyers, 9s sellers. In response to a steady bid for National Mortgage (£2) ~a seller camo forward at £1 14s 6d. Holders' of Perpetual Trustees reduced their limit to £2 12s, but tho buying quotation was unchanged. There was also a slightly raised bid for Trustees, Executors. The coal and oil sections are receiving improved support just now, while there has been a sale of each issue of Christchurch Gas. Holders were asking a higher figure for Westport Coals. Donaghy’s rights have eased back, and the margin is now quite close. A keen inquiry for Sydney Woolworths did not attract any offers. Investors were offering 9s 6d for Mount Morgan (2s 6d), but otherwise tho Australian mining section showed little change. SALES REPORTED. —Yesterday.— Christchurch Gas, £1 2s Id. Christchurch Gas (cont.), 10s 6d. —This Morning.— 4 per cent. Slock, 1943-46, £lOl. 4 per cent. Stock, 194649, £lO5 15s. 4 per cent. Stock, 1952-55, £lO7 10s. New Zealand Refrigerating (cont.), 8s 9d. J. Fuller and Sons Debentures, £6O. * T " RUBBER QUOTA FIXED (British Official Wireless.) (Rec. 11.50 a.m.) RUGBY, August 19. The International Rubber Committee has fixed 120 per cent, of the basic quotas for 1941 as the exportable amount of rubber for October, November, and December. GOFFER DEVELOPMENT LOAN TO MOUNT MORGAN COMPANY (Rec. 8 a.m.) SYDNEY, Aug. 19. The Federal Government has loaned the Mount Morgan Company £IO,OOO for copper development. SOUTHLAND STOCK LARGE YARDING OF FAT CATTLE (P.A.) INVERCARGILL, August 19. There was the largest yarding of fat cattle for some months at Lornevillo today, and the quality in the main was good. Country butchers were represented, and, although the sale opened with values on a lower oasis than last week, after the first race had been disposed of there was a general improvement. Taking tho large yarding into consideration, the sale was a good one, values in many cases being well up to those ruling last week. Prime heavy bullocks made from £l6 to £18; prime medium-weights, £l4 to £ls; handv-weights, £l2 5s to £l3 10s; and lightweights, £ll to £l2. Prime-quality heifers sold to £l3 10s; good-quality mediumweights, £ll 10s to £l2 10s; handy-weights, £lO 10s to £lO 15s; and smaller, £8 to £9. Extra prime cows made up to £ls'; prime quality, £ll 10s to £l2 10s; mediumweights, £9 10s to £lO se; unfinished, £7 10s to £3 10s; and inferior, £4 to £5. The yarding of fat sheep consisted mainly of fat ewes, the majority of which were of good quality. Values remained fairly steady throughout on much the same scale as last week. Prime heavy wethers made up to 355; prime quality, 31s 6d to 335; good quality, 29s to 30s; medium, 27s to 28s 6d. Extra good ewes sold up to 23s 6d; prime heavy, 21s to 225; good quality,'l9s 6d to 20s 6d; medium, 17s to dSs; and unfinished, 14s to 16s. NEW WAR LOAN HARBOUR BOARD INVESTMENT (P.A.) AUCKLAND, August 19. A decision to invest £20,000 in tho Government’s £10,000,000 war loan was reached at a meeting of the Auckland Harbour Board to-day, when a report from the Finance Committee was received by the board in committee. “It is our plain duty to stand behind tho Government in this loan,” said the chairman, Mr H. Luke, who added that the board would have to use some of its reserves to subscribe to tho loan. Mr J. H. Prater said this was a contribution not only to assist the men in the fighting field, but an insurance against aggression and damage to the board’s property. “ I think this is the finest security wo can contribute to,” ha added.

DUNEDIN STOCK EXCHANGE LATEST QUOTATIONS

Buyers. Sellers. £ s". d. £ s. d. N.Z. GOVERNMENT LOANS— 3 !, p.c. Bonds, 1953-57 101 0 0 — 34 p.c. Stock. 1953-57 101 0 0 •— 4 p.c. Stock, 1943-46 100 15 0 — 4- p.c. Bonds, mf>4y JLUb 10 0 — 4 p.c. Stock, 1946-49 105 10 0 — 4 p.c. Stock. 1949-52 105 10 0 — 4 p.c. Bonds, 1952-55 107 0 0 • 4 p.c. Stock. 1952-55 107 0 0 — 31 p.c. National Service Loan —• 100 0 0 * N KING — New Zealand (£1) ... 1 19 0 — New Zealand (Loajr “D”) 1 10 9 — Commercial (10s) 0 14 4 0 15 2 Union 6 12 0 — NSURANCE— National (7s) 0 19 0 New Zealand 3 5 6 — South British 2 14 0 — Standard (£1) 5 0 0 — HIPPING— P. and O. Stock 1 8 0 — U.S.S. Co. (pref.) ... 1 6 0 — MEAT PRESERVING— N.Z. Refrig, (paid) 0 18 8 0 19 6 N.Z. Refrig. (cont.) a 8 6 0 S 0 Southland (paid) 1 12 6 — South Otago — 5 2 6 Waitaki ... ... ... 4 9 0 — LOAN AND AGENCYNat. Mortgage (£2) 1 13 0 1 14 6 Nat. Mortgage (B) ... 1 1 6 — Loan and Mercantile 31 0 0 — Guarantee Corp. 0 2 3 — Perpetual Trustees .. 2 10 6 2 12 0 Trustees Executors ... 4 4 6 — W.S. and Co. (ord.) — 10 0 W.S. and Co. (pref.) 0 19 6 — GAS, COAL. AND OILChristchurch Gas 1 2 0 Kaitaugata 1 11 0 — Westport 1 2 10 13 6 Stockton (ord.) ... 0 2 6 — Stockton (pref.) 0 6 10 0 7 4 Moturoa (pref.) 0 5 0 Taranaki 0 5 0 Oil Development 0 2 4 — WOOLLEN COMPANIESBruco (ord.) 1 1 6 12 6 Bruco (pref.) 1 1 0 — Kaiapoi (pref.) 0 17 6 — Mosgiel (£4) 10 3 0 — Timaru (£1) 0 16 0 MISCELLANEOUS— Booth Macdonald (prof.) ... 0 5 7 Broken Hill 2 1 6 2 2 6 Brown, Ewing (ord.) — 0 18 6 Chas. Begg 0 19 0 — D.I.C. (ord.) 0 14 0 — D.I.C. (pref.) 1 4 0 14 6 Dom. Fert. (£1) 1 2 3 — Dom. Rubber (£1) ... — 0 16 0 Donagby’s Rope (rights) ... 0 14 0 0 14 9 Dunlop Rubber 1 2 0 — G. J. Coles 3 4 6 — Macduffs (ord.) ... — 0 10 0 M'Lood Bros — 27 0 0 National Electric ... 1 0 6 — N.Z. Drug Co. (£2) ... ... 3 18 3 — Paper Mills 1 11 3 . Regent Theatre ... — 0,19 9 Southland Ice 1 5 0 — Wilsons Cement 0 19 0 — Woolworths (N.Z., ord.) 0 13 7 — Woolworths (Sydney) 0 17 8 — BREWERIES— Ballin’s 0 10 6 — New Zealand — 1 15 0 Dunedin — 110 OVERSEAS MININGBroken Hill South ... — 17 6 Electro. Zinc (ord.) 2 12 0 — Mount Lyell — 17 9 Mount Morgan (2s 6d) 0 9 6 0 10 0 New Broken Hill ... 0 11 0 • North Broken Hill 2 0 0 • Placer Development 3 4 6 — N.Z. MINING— Alexander 0 4 0 — Gillespie’s 0 0 1* — Grey River 0 14 U 0 16 0 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 Caley Phcenix (£1) 0 11 6 0 12 6 National Tobacco ... 1 11 3 — Otago and Southland Finance (cont.) 0 1 8 0 2 0 Otago Farmers’ (A pref.) — 10 0 Otago and Southland Finance (17s 6d paid) 0 7 0 — Otago and Southland Finance (pref.) ... 0 18 0 10 0 J. Fuller and Sons debentures 60 0 0 —•