COMMERCIAL

Grey River Argus, 28 August 1937, Page 8

COMMERCIAL

N.Z. SHARE MARKET. [Per Press Association]. DUNEDIN, August 27. Sales, Bank of New Zealand, £2/5/-, Westport Stockton (pref.) 5/-, Manawatu Knitting Mills £l/10/-. Associated News (pref.) £l/4/-. New Zealand Drug Oil 5/2 (2), Cox Bros. £l/2/3. CHRISTCHURCH, August 2(. Sales: Bank of New Zealand 45/-, Australian Glass 96/3, 96/-; Broken Hill Proprietary 83/6, Electro Zinc (ord.) 59/-, Electro Zinc (pref.) 59/9 (2), G. J. Coles 96/3, 96/3 (3), Taranaki Oilfields 5/1 (5), 5/-, 5/1, Skippers 2d, Mount Lyell 43/4 (2), 43/3 (2), 43/4; Mount Morgan 11/4 (4), Rawang Tin 12/7. Reported: Australian Glass (late sale yesterday) 96/3, Evans Atlas Flour. 19/6, Whitcombe and Tombs 65/-. Unlisted: Woolworth’s (Sydney, ord.) £6/9/3. WELLINGTON, August 27.

Sales, morning call: Evans Atlas Flour 19/6. Sales reported: Huddart Parker £2/3/6 (two sales), General Industries £l/0/10i, £l/1/-; Electrolytic Zinc pref. £3 (two sales). Sales, noon call: Mt. Lyell 43/4, Mt. Morgan 11/4. An advance of £232,100 in the amount of sterling exchange held is shown in the figures of the Reserve Bank of New Zealand this week. Advances against produce from the dairy account show an increase of £126,600, and other assets are set out at £6,400 higher. Notes are £146,400 less. Demand liabilities to the State have decreased by £268,900, and other demand liabilities by £269,800, but those to the bank have risen by £754,200. AUCKLAND, August 2(.

Sales: Bank of New Zealand 42/10, Auckland Gas (con.) (2) 15/-, Broken Hill (Proprietary) 83/9, Electro Zinc pref. 20/3, Coles 97/-, Farmers’ Fertilizer (3) 20/10, New Zealand Newspapers 38/-, Woolworth’s Holdings 16/11, Grand Junction 2/11, Broken Hill South 48/6, Stock 12/2/43/46 4 per cent. £lO3/7/6. Sales, 12.15 call: Bank of New Zealand 44/10, National Insurance 18/4, Zinc pref. 60/3, New Auckland Laundry 21/6, Mt. Morgan 11/3. Reports are current that endeavours are being made by oil companies in the Dominion to persuade the Government to consent to an increase of Id a gallon in the wholesale price of petrol, which would then be passed on to the consumer. The wholesale price is fixed by the Government for the whole of New Zealand. Hon. D. G. Sullivan, declined to make any comment on the reports, and responsible officials in prominent oil companies adopted a similar attituder LONDON, August 26. Gold 139/7, dollar 498 3-16, franc 132 27-32. The Bank of Australasia has declared an interim dividend of 3/6 per share. The value of retail trade in July was 8.1 per cent, greater than in the previous year.

The value of stocks was 5 per cent, higher, and employment was 3 per cent, greater.

LOWEST BANK RATE.

NEW YORK, August 26.

The Federal Reserve Bank has announced a reduction in its re-discount rate from one ana a-half per cent, to one per cent., which is stated to be the lowest rate in the history of any bank in the world.

ROTOMANU SALES. The National Mortgage report having held a successful combined clearing and stock sale at Rotomanu yesterday, when satisfactory prices for implements, fat cattle and dairy cows were realised. The following is a list of the principal sales out of practically a. complete clearance offered. —On account W. Cowan, implements, ets.: Fordson Tractor £6O, McCormick mower £22, 3-cow D.S. milking plant. £2O, Anderson engine, £l9; S.F. Plough £lO, set disc harrows £lO 10s ;£(

hay rake £lO 10s, set three leaf tyne harrows and bar £9 12s 6d, Alfa Laval Separator £ll, tractor trailer £4, anvil £1 ss, Vyce £1 ss, and sundries at full market rates; on account TeKinga Land Coy.—Stock: 9 fat bullocks at £l3 17s 6d ea.; on account P. L. James, 6 2-yr. dairy heifers at £6 2s 6d apiece, 6 dairy cows from £a 10s to £6 each; on account Robert Thomson, 15 dairy cows from £3 17s 6d to £6 7s 6d apiece; on account V. Cowan, 17 dairy cows from £5 to £b 17s 6d, 15 18-mths. to 2* yr. heifers from £3 7s 6d to £3 17s 6d, 20 dairy cows from £3 to £4 12s 6d apiece; on I account A. J. Palmer, 2 fat cows at :6 7s 6d each.