Commerce, Mining, Finance

Evening Star, Issue 24004, 1 October 1941, Page 4

Commerce, Mining, Finance

SHARE MARKET VALUES STEADY Values wore steady at (lie callover I his morning. Apart from an inquiry for the 1953-57 issues and the 1953 War Loan, interest in Government loans was confined to thoso lines in which sales were reported; namely, 1943-46, 1946-49, and 1949-52 stock. Only one prospective seller came forward, offering 1946-49 slock at £lO5 10s. Banks and insurances were quiet, although there were a number of sellers operating in the former section. Shipping received some attention, and Huddart, Parker (ords.) were offered. Moat had a steady demand, and Now Zealand Refrigeralings rose fractionally. As was the case with loan and agencies and woollens, the demand was unsupplied. Coals were unchanged. After a long absence there was a buyer of Beggs at 19s, and there was no response. Coles, too, were again sought, but Sydney Woolw’orths were not quoted. I.C.f. prefs. were reported sold at £1 4s 9d and more were asked for at slightly under that figure. A higher bid for the ordinary Farmers’ Fertiliser drew an offer Is 6d away, and Paper Mills* and * Otago Daily Times ’ shares were firmer. There was buying support for Australian mining scrip, but Morgans were the only lino offered. SALES REPORTED. —Yesterday.— Donaghy’s rights, 16s. N.Z. Drugs (new issuel, £2 10s. North Broken. Hill, £2 4s. . —This Morning.— ■ Mount Lycll (late), £1 Bs. 4 p.c. Stock, 1943-46, £lOl ss. 4 p.c. Stock, 1946-49, £lO5. 4 p.c. Stock, 1949-52, £lO6 10s. 1.0.1. (pref.), £1 4s 9d. CUSTOMS REVENUE INCREASE FOR SEPTEMBER In the Customs returns for the month of September an increase is shown in the net Customs revenue in comparison with the figures for the corresponding month last year, but in the beer, sales tax, and war expenses returns slight decreases are recorded. The increase in Customs revenue was almost £II,OOO. The figures for the nine months show increases in the sales-tax and war expenses returns. Customs revenue and beer tax were lower by £64,939 and £6,145 respectively. The following are the detailed returns —Month of September.— 1941. 1940. £ £ Customs 50,113 39.497 Beer 44.655 37,571 Sales tax 30,318 31,453 War expenses 41,482 42,076 —Figures for Nino Months. — 1941. 1940. £ £ Customs ... 449,622 514,561 Beer 335,032 341.177 Sales tax 271.425 266,711 War expenses 365,461 157,227 OTHER CENTRES AUCKLAND.

The collections of Customs revenue in Auckland last month were as follows, compared with those for September of last year:— 1941. 1940. £ £ Customs 252.098 230.965 Excise on beer ... 34,856 25,892 Sales tax 96,998 94,990 War expenses 109,086 109,676 —Figures for Nino Months.— 1941. 1940. £ £ Customs 2,113,277 2,406,448 Excise on beer ... 253,994 227,792 Sales tax 860,789 844,001 War expenses 994,276 335,026 WELLINGTON. The Customs collections hi Wellington for September and for the same month last year were as follows: 1941. 1940. £» £ Customs 236.517 225,828 Sales tax 96,883 97,402 Beer Excise 8,048 7,973 War expenses 128,002 124,524 —Figures for Nine Months.— 1941. 1940. £ £ Customs 2,188.929 2,508,471 Sales tax 846,302 916,880 •Beer Excise 76,652 76,191 War expenses ... ... 1,123,599 474,261 CHRISTCHURCH. The following are the Christchurch Customs figures for September, compared with those for September of last year:— 1941. . 1940. £ £ Customs 80,645 58,932 Beer 12,477 15,558 Sales tax 42,603 38,801 War expenses 46,688 43,776 —April to September.— 1941. 1940. Customs 463,296 516,685 Beer 97.119 88,814 Sales tax ... ... .:. 257,927 258,001 War expenses ... ... 295,581 117,891 SYDNEY STUCK EXCHANGE Press Association —By Telegraph—Copyright SYDNEY, September 30. Share prices were lower to-day, but trading was heavier. Banks were neglected. Morning Sales. —Tooths, £2 13s; Anthony Hordern, 14s 8d; British Tobacco, £2 6s 6d; Broken Hill Proprietary, £1 19s; Bond’s Industries, £1 8s; Millaquin Sugar, £2 Is 3d. Afternoon Sales.—Colonial Sugar, £49 ss; Australian Gas A, £4 19s; Woohvorlhs, 17s; Consolidated Industries, £2 8s Id; Adams, 15s 3d; Felt Textiles, £1 16s lOd; Standard Cement, 19s 9d; Mauri Bros, (ex div.), £3 ss; Electrolytic Zinc, £2 13s; Mount Lyell, £1 7s 7d; Rawang, 8s 7d. MINING NEWS ARGO YIELD. The Argo Gold Dredging Company Ltd. reports a return for the week ended September 27 of 28oz from 10,000 yards in 112 hours.

DH STOCK EXCHANGE LATEST QUOTATIONS

SOUTHLAND STOCK FAT CATTLE PRICES RISE (P.A.) INVERCARGILL, Sept. 30. A sharp rise in values for fat cattle compared with the prices ruling last week was the feature of the Lorneville stock sale to-day. In the fat sheep section there was another good yarding of both ewes and wethers, and the sale was a keen one. with ewes showing a further improvement of up to Is 6d a head, while wethers were firm to Is a head better compared with the prices ruling last week. Good quality wethers brought from 35s to 36s 6d. medium 32s fid to 345, light and unfinished 27s to 295, and inferior 22s fid to 25s fid. Prime woolly ewes commanded from 26s fid to 28s, good quality 24s to 25s fid, light-weights 20s to 21s fid, prime shorn ewes 20s fid to 21s 9d, medium 18s fid to 20s, and unfinished 15s fid to 17s. The fat cattle yarding showed a considerable decrease on that of last week, and

the majority of Uio cattle yarded were of quite good quality. There was a good representation of country butchers, and this, together with the short entry, resulted in a firm sale. Values showed an improvement of from £2 to £2 10s, and in some cases oven more. ! Prime quality bullocks made from £l7 | 10s to £l9 10s, good quality medium- j weights £ls 15s to £l6 15s, and lightweights £l3 10s to £l4 10s. Prime quality heifers sold from £l4 to £ls, mediumweights £l2 10s to £l3 10s, and lightweights £lO 10s to £ll ss, while prime quality cows realised up to £ls, good quality 1112 5s to £l3 10s, medium-weights £lO to £ll, unfinished £8 10s to £9 ss, and inferior £6 to £7. HEW SEASON’S TOMATOES Crown by Mr H. T. Falla, Christchurch, the first of the new season’s tomatoes were on sale in Messrs Bray Bros.’ fruit auction rooms this morning. The tomatoes were hothouse grown and were a very fine dessert example, and the consignment consisted of two small cases totalling 12ib. There was a brisk demand, and they were finally disposed of at 5s 9d a. ih to Mrs W. Jones, fruiterer, Princes street, and to Wing On and Company.— [Advt.] BACONER PIGS 11,000 TONS ORDERED FOR BRITAIN (P.A.) WELLINGTON, Sept. 30. The New Zealand Government has accepted an order for 11,000 tons of bnconers offered a few days ago by the British Ministry of Food. This was announced by the Minister of Marketing, Mr Barclay, to-night. In view of this, the Minister said, the Marketing Department would be- a buyer of Wiltshire sides prepared from haconer pigs of a weight range from 1111 b to 1601 b. When the' original offer was made Mr Barclay said, for the purchase of 5,000 tons of baconers by the British Ministry of Food, arrangcments'had been made by the Marketing Department to purchase baconers only until the end of November, 1941, but now that this order had been increased the department would continue buying pigs throughout the coming season. Mr Barclay added that the British Ministry of Food wanted the first 5,000. tons as soon as possible The Minister also announced that the Marketing Department would continue to pay the same f.o.b. prices for both pork and bacon as were operative last season. This had been decided on after consultation with the New Zealand Meat Producers’ Board. The Government did not dcsiro that the producers should again undertake a definite campaign for increased production, he said, because it was estimated that the present order could be fulfilled by tho industry in the normal course of the season’s operations. Special arrangements had also been made, Mr Barclay said, for the purchase of boneless cow beef during the coming season, and negotiations had been in between the canners and the meat-buying organisations with a view to determining the price at which boneless cow beef could be, purchased from the producers for canning purposes. In the North Island the freezing companies and the meat buyers would purchase boner cows for canning at 15s 6d per 1001 b, dressed weight, on the hooks at tho nearest port to the works. This was a satisfactory price to the producers, ho said, and would continue unless changed circumstances required a readjustment. Mr Barclay concluded by saying that negotiations were still continuing between the Government, the Meat Producers’ Board, the freezing companies, and the meat buyers in respect to other classes of export meat products. As soon as these were completed a full statement would be made.

Buyers. Sellers. £ S. d. £ S. d. N.Z. GOVERNMENT LOANS— 3A p.c. Bonds, 1953-57 101 10 0 — 34 p.c. Stock. 1953-57 101 10 0 — 4 p.c. Slock, 1943-4G 101 0 0 — 4 p.c. Slock, 1946-49 104 15 0 105 10 0 4 p.c. Stock, 1949-52 106 0 0 — War Loan, 1953 87 0 0 — BANKING - New Zealand (£1) ... 1 19 6 —. New Zealand (Lull" “ D ”) 1 n 9 Commercial (10s) 0 15 0 0 15 7 National of N.Z. ... — 1 19 6 Union 7 3 o. INSURANCE— National (7s) 0 19 6 — Standard (£1) 3 1 3 SHIPPING - Hnddart, Parker (ord.) 2 6 0 P. and 0. Stock 1 10 0 2 0 0 U.S.S. Co. (pi-ef.) ... 1 6 0 — MEAT PRESERVING — Canterbury (ord.) ... 11 5 0 — Canterbury/ (pref.) ... 7 0 0 — N.Z. Refrig, (paid) ... 1 0 0 — N.Z. Refrig, (cent.) 0 9 0 — South Otago (sum div.) 5 7 6 5 15 0 Waitaki 4 12 6 LOAN AND AGENCYNat. Mortgage (£2) 1 15 0 — Nat. Mortgage (B) ... 1 1 6 — Loan and Mercantile 35 0 0 — Perpetual Trustees ... 2 10 6 — Trustees Executors ... 4 5 0 — W.S. and Co. (prof.) 0 19 0 GAS, COAL. AND OILKaitangala 1 12 0 1 14 0 Westport 1 4 3 — Stockton (ord.) 0 2 5 0 2 9 Stockton (prof.) 0 6 6 — Moturoa (picf.) — 0 5 0 WOOLLEN COMPANIESBond’s Hosiery 1 8 0 — Bruco (ord.) 1 3 6 — Bruce (prof.l 1 1 6 — Kaiapoi (prof.) 0 17 0 — Mosgiel (£4) 10 7 6 — Timaru (£1) 0 16 6 “ MISCELLANEOUS— Broken Hill 2 2 0 2 3 3 Chas. Bcgg 0 19 0 — D.I.C. (ord.) 0 14 0 — D.I.C (pref.) 1 4 3 — Horn. Fert. (£1) 1 3 3 — Dom. Rubber (£1) ... 0 16 0 1 0 0 G. J. Coles 3 3 0 — I.C.I. (pref., £1) ... 1 4 6 — Kauri Timber ... ... 1 3 0 — MacdutTs (ord.) — 0 9 4 Donaghys (new issue) 1 11 0 — National Electric 1 3 0 — N.Z. Drug Co. (£2) ... 3 18 0 — Drug (now issue) 2 9 6 — Fanners’ Fert. (£1) 0 19 6 1 1 0 Paper Mills 1 12 9 — ‘ Otago Daily Times ’ 1 18 0 — Regent Theatre/ / 0 19 0 Smith and Smith 0 19 0 — Wilsons Cement — 0 19 7 Woolworths (N.Z.), ord — 0 14 6 Woolworths Props. ... 1 5 9 — BREWERIES— Now Zealand 1 15 9 — Dominion — : 1 H 0 Dunedin — 1 1 0 OVERSEAS MINING— Broken Hill South ... 1 7 6 — Electro. Zinc (ord.) ... 2 13 0 — Electro. Zinc (pref.) 2 14 6 — Mount Lyell 1 7. 6 — Mount Morgan (2s 6d) 0 9 3 g 10 0 N.Z. MINING— Gillespies — 0 0 2 i Grey River 0 15 6 — Okarito (5s) 0 1 2 — ■Waihi Investments ... 0 4 0 — Waitahu (5s) 0 0 5 0 0 8 UNLISTED STOCKS— All stocks in this section are not q noted on the official list, and transaction aro subject to a different rate of brokerage Mackintosh Caloy Phoenix (£1) 0 14 9 0 17 0 National Tobacco 1 11 9 — Otago and Southland Finance (cont.) 0 1 8 — Otago and Southland Finance (17s 6d paid) 0 7 0 — Otago and Southland Finance (pref.) 0 18 0 — Otago Investment Trust 0 0 6 — Snowbite Laundries ... 0 10 6 0 16 0