COMMERCIAL

Evening Star, Issue 24296, 10 September 1942, Page 6

COMMERCIAL

SHARE MARKET. There was a brisk tone at this morning’s call-over at the Stock Exchange, with a general rising tendency in values. New Zealand Government 4 per cent, stock and bonds, 1954-58, were wanted at £lO7 ss, and rural bonds at £lO5 10s. In banking a buyer offered 14s 8d for Commercial, and Standard Insurance had risen slightly to 61s 3d (buyer). In meat preserving New Zealand Refrigerating (paid) had a buyer at 21s 3d, and the contributing issue was quoted at 9s 6d-9s Bd, with a reported sale at 9s 6d ; Southland (paid) bad a slightly wider market, with a buyer at 34s and a' seller 2s away. In gas, coal, and oil West-port-Stockton (ord.) were quoted at 2s 8d (buyer), 3s (seller). The preference were wauled at 8s 3d. In woollens. Oamavu had a. wide market, a 'seller offering for 28s, but the buyer did not advance beyond 22s 6d. lii the ‘miscellaneous section A.C.I. were sought at 475, Colonial Sugar at £l9, Felt and Textiles at 38s. and ‘Otago Daily ! Times ’ at 39s 6d. The quotation for D.f.C. (prof.) was 255-265, and for Donaghy's Rope 495-51 s. After a sale at £25, McLeod Bros, were quoted at £24 17s 6d (buyer), £25 10s (seller). lu breweries there was a buyer of New Zealand at 335, with a seller at 33s 9(1. In Australian mining there was a general rising tendency. Broken Hill South had a market at 22s 6d (buyer), 25s 9d (seller). The buying offer for Electrolytic Zinc (ord.) rose to 45s 3d, and for Emperor to 9s 6d. There was a reported sale of Mount Lyel! at 27s 9d, with this issue still wanted at 27s 6d. SALES. —This Morning.— McLeod Bros., £25. Mount Lyell, 27s 9d. REPORTED SALE. Now Zealand Refrigerating (cont.), 9s Cd. TEA MARKET. Mr L. M. Wright has received the following cabled report on the Colombo tea auction of September 7:—An offering of 2,750,0001 b was sold at Monday’s tea auction. Teas showing fine quality were not m very keen demand, prices showing a decline, but for common and medium grades competition was good, quotations being above the closing rates of last week. At next week’s sale the same quantity will bo offered. PROPERTY SALE. Park, Reynolds Ltd. offered at auction yesterday a freehold property in the estate of Robert Ferguson (deceased), a raspberry farm, situated at Pine Hill, containing nine and a-half acres, with a 7-roomed house and outbuildings. There was a good attendance of buyers, and under keen competition the property was knocked down to the bid of A. F. James for £6lO. WRIGHT, STEPHENSON. The thirty-sixth annual meeting of the members of Wright, Stephenson and Co. Ltd. was held at the head office of the company, Wellington, on Tuesday, a moderate number of shareholders being present. The profit and loss account for (he 12 months to June 30, 1942, showed a credit balance of £31,498 15s 4d, to which has to be added the amount carried forward from last year, £28,730 17s 7d, making a total of £60.229 12s lid. From this had been deducted the interim dividend, paid on January 31 last, amounting to £13,127 9s, leaving a balance of £47,102 3s lid available for distribution. A dividend of 2k per cent, on the ordinary shares was declared (making 5 per cent, for the 12 months) and the fixed payment, at (bo rale of 5 per cent, per annum, less Social Security taxes, to the preference shareholders was adopted, leaving a balance ot £34,130 17s lid to bo carried forward to next year’s accounts. Messrs John Macdonald, H. A. Price., and W. M. Shand, retiring directors, were re-elected. Messrs Barr, Burgess, and Stewart were reappointed auditors. SALES ON ’CHANGE: THIS DAY. Auckland —Morning call: Bank of New Zealand, 39s 6d; Union Bank, £7;. South British Insurance, 63s 3d (three); Broken Hill Proprietary, 39s (two); Colonial Sugar, £sl; Taranaki Oil Developments, 2s 6d; Wilsons Cement, 17s 2d; Woolworths (New Zealand), 14s lid; Mount Morgan, 8s 3d. Noon call: Newton King (pref.), 14s; Auckland Gas, 6s 4d; Wilsons Cement, 17s 2d; Broken Hill South, 245; Auckland Gas (perpetual debentures), £BO ss.' Wellington.—Sales reported: New Zealand Farmers’ Co-operative (A pref.), £2 0s 3d; 3 per cent. Inscribed Slock (1952-55), £99 10s; New Zealand Insurance, £5 11s 3d, £3 11s; Thnaru Woollen, 18s; Taranaki Oilfields, ss; Donaghys, £2 8s; Mount Lyell, £1 7s„ £1 7s 3d, £1 7s 6d.