SHARE MARKET

Evening Star, Issue 24137, 6 March 1942, Page 5

SHARE MARKET

The demand for Government stocks persisted on ’Change this morning, there being buyers for all issues without sellers quoting. Banking shares generally were quiet, out there were inquiries for Bank of New South Wales at £24 10s; sellers appeared for New Zealands at 37s 3d, and the long D at 30s 3d, but there were no buyers. The only three quotes in insurance came from sellers, who offered Nationals at 18s 9d, South British at 51s, and Standards at 58s 6d. In meat preserving the only buyers were for Southland Frozen Meat ordinaries at 335, but the lowest seller was Is 3d away. New Zealand Refrigerating (paid) were offered at 19s, and the contributing at 8s; South Otagos were available at £5 10s. There were no changes to report in loan and agency, and no buyers appeared for brewery shares. In goal and oil, Westports were offered at the slightly lower price of 245, and ‘WestporbStockton at 7s, but no buyers appeared. Woollens saw poor inquiry, without buying support, and sellers predominated in the miscellaneous section, buyers being extremely scarce. A.C.I. were offered at 38s 6d, Booth Macdonald - (preference) at 5s 3d, Broken Hills at 335; Charles Begg and Co. had a buyer at 20s and a seller at 225, D.I.G. ordinaries were wanted at 14s 9d, and the preference at 245. The following were selling quotations:—Dominion Fertilisers at 22s 6a, Donaghy’s Rope (old issue) 50s (new issue 495), Dunlop Rubbers 18s 9d, G. J. Coles 455, Macduffs ordinaries 8s (preference 21s 6d), Milburn Limes 355, New Zealand Drugs 765, and New Zealand Paper Mills 335. A buyer appeared for ‘ Otago Daily Times ’ at 38s, but there was no seller. Regent Theatres were offered at 19s, Southland Ice Creams at 235, Wilsons Cement at 18s, and Woolworths (Sydney) at 12s 3d. Woolworths (N.Z.) were quoted buyers 12s, sellers 12s 7d. No buyers appeared in Australian mining, and New Zealand mining continued quiet.

FOUR PER GENT. LIMIT (Eec. 8 a.m.) CANBERRA, March 5. The Prime Minister said the Government ■would not entertain, any proposal which ■would whittle down its policy of restricts ing profits in war time to 4- per cent., tax free. However, the tax proposals necessary to implement the Government’s proposal to limit profits to 4 per cent, would not operate until July 1. In the meantime, no price increases would be permitted if they took profits beyond 4 per cent. Industry must retatin sufficient liquid assets to meet additional taxation when Parliament approved the tax proposals. Mr Curtin added that he would take all steps necessary to preserve real capital and enable it to be utilised with the greatest efficiency for prosecution of the war. MINING RETURNS. The gold returns of the Big River Mines Ltd., for January and February, were as follows:—Battery department: 1220 z lOdwt of melted gold from 149 tons of ore crushed. Cyanide department: 240 z 13dwt of bullion from 150 tons ef sands treated. Total estimated value, £1,085. Concentrates: In addition to the above, one ton of , concentrates was saved, valued at £3O. In estimating the above values, gold has been taken at 160 s per fine ounce. The Grey River dredge return for the week ended March 4 was 180| ounces for 131 hours from 91,620 cubic yards. The total return for February was 772 ounces for 512 hours from 373,617 cubic yards. TEA SALE. Mr L. M. Wright has received the following cabled report on the Colombo tea auction of March 2:— A catalogue totalling 2,250,001 b was submitted to buyers at this week’s tea auction. Common grades were keenly Competed for, and at the close of the sale showed an advance of Id to Ijd over the latest quotations. Other grades were slightly dearer. At next week’s sale 2,000,0001 b will be offered. DIVIDEND ANNOUNCED. (P.A.) CHRISTCHURCH, March S. The following interim dividends have been announced by Beaths Ltd. for the half-year ended February 19:—3 per cent, on ordinary and 2$ per cent, on preference shares, payable on April 1.