WELLINGTON STOCK EXCHANGE

Manawatu Standard, Volume LI, Issue 72, 24 February 1931, Page 5

WELLINGTON STOCK EXCHANGE

YESTERDAY’S BUSINESS AND PRICES. Continued dullness characterises business on the stock exchanges of the Dominion. Yesterday two sales were reported on the Wellington Stock Exchange. Government securities were slow tvith plenty of sellers. There was a bid of £93 for the 4£ per cent, bonds (1938) and £99 5s for the 5£ per cents., 1933. Wellington Racing Club debentures were in demand at £lO2 10s, with no sellers. Bank shares wore very quiet with only two bids. Commercial Bank of Australia, ordinary, were wanted at 13s Id, with a sale at 13s 2d, and Bank of New Zealand at 46s 6d, the latter showing a slight improvement on the previous bid. r lho only selling quotation recorded yosterduy afternoon was for National Bank of New Zealand, the price asked being £4 13s or Is 6d below the selling quotation on Saturday. Goldsbrough, Mart and Coy. wero steady at 17s; New Zealand Refrigerating, 10s paid, wero wanted at Is 4d, with a sale at Is 6d.- P. and O. deferred stock were Is higher at 31s; Leyland-O’Brion Timber were 6d higher at 20s 6d. New,. Zealand Breweries at 33s were steady and unchanged. Staples and Coy. wore down 3d at 30s 9d. Burns, Philp and Coy. at 275, and British Tobacco at 27s were steady and unchanged. Dunlop Rubber were firm at 6s with no sellers. Wilson’s Cement have risen another Is, and are now wanted at 375. There was a bid of 2s 6d for Taranaki Oil, but sellers asked ss. Mount Lyell were firm at 18s 6d. There was no demand for insurance, gas, woollen and coal shares. Financial shares havo beon quiet for some time, Goldsbrough, Mart and Coy. being an exception. Gas shares are likely to be neglected until the time approaches for the interim dividend. Woollen shares have been out of the marekt for some time except for sales last week of Mosgiel Woollen.

YESTERDAY’S QUOTATIONS

Buying and selling quotations at yesterday’s final call on the Wellington Stock Exchange wero as follow : Buyers. Sellers.

YESTERDAY’S SALES.

The following 6ales were recorded on the stock exchanges of the Dominion yostorday:— Wellington.—Commercial Bank of Australia, 13s 2d; N.Z. Refrigerating Coy., Is 6d. Auckland. —War Bonds, 4£ p.c., 1939, £93 10s; Inscr. Stock, 4£ p.c., 1939, £93 10s; Taupiri Coal, £1 Is; Auckland Gas (contr.), 16s 9d; Moantaiari, Is 4d. Christchurch.— Goldsbrough Mort, 17s 6d, 17s lid, (2) 18s; Mount Lyell (5), 12s 2d; King Solomon, Is lOd, Is llid, 2s, Is llid; Mahakipawa, Bd. Sales reported: Whitcombe and Tombs, £2 13s. Dunedin.—King Solomon, Is Sales reported: King Solomon (2), 2s.

FARMERS’ ACCOUNTS.

SYSTEMATIC RECORDS

Mr I. W. Weston, lecturer in farm economics at the Canterbury College, Lincoln, in a paper on Farm Costing, says:—“The greatest direct value, to to bo obtained from the account work to the farmer is not in tlio mere accurate determination of monetary returns, but in the bearing these results have on assisting management. By analysing the accounts, notes can be compiled with regard to the various accounts pointing out where returns are above or below the average, and, if possible, which branch should be developed, which requires adjusting, and where possible improvements might bo effected. This can be illustrated by the sheep account. The most important tests of sheep management are not monetary returns, which fluctuate from year to year, but such things as reconciliation of sheep numbers on hand at the beginning and end of the year, after allowance is made for lambs marked, sheep bought, sheep sold, and sheep killed for house or dogs. On the basis of these analyses a report can be made showing the percentage of lambs bred to ewes put to ram, the percentage of sheep dead, the percentage of sheep unaccounted for, the weight of wool per sheep and the percentage of sheep sold, as well as the carrying capacity per acre. The value of this work is undoubted. When it is i-emembered to what extent herd-testing has stimulated and assisted production on one branch of the farm, it can be realised to what extent farm-testing can assist production on the whole farm. In other countries this value is recognised by the formation of farm accounting associations and in 'New Zealand the formation of similar associations where groups of farmers co-operatively, employ an accountant to compile their returns would be of similar value.’’ CATTLE TRADE. OPPORTUNITIES WITH THE EAST. Mr H. F. Hardy, grazier, of Darwirt, who arrived in Sydnoy recently, said that there were splendid opportunities of trading with the East in fat stock. Pie had been sending large shipments of stock to Manila, but the trade had temporarily fallen off, though he expected it would shortly be renewed. Japan had asked for a trial shipment of stock, and if it was suitable, had promised to take a continuous supply. There were enormous areas of excellent land available in the Northern Territory for grazing. It was his firm opinion that the future prosperity of the North would come from trade with Eastern countries.

A record low price for wool was recently received by a farmer at Condobolin, New South Wales. He was paid 10 twopenny postage stamps by his brokers. This was his net return after the deduction of costs on two bales of wool.

N.Z. GOVT. LOANS— £ s. d. £ s. d. 4£ p.c. Insc. Stic., 1939 — 93 12 6 44 p.c. ditto, 1938 ...i.. — 93 10 0 5& p.c. ditto, 1933 — 93 7 6 5i p.c. ditto, 1941 — 96 10 0 4i p.c. bonds, 1938 ... 93 0 0 93 12 6 54 p.c. ditto, 1933 99 5 0 — DEBENTURES— Well. Racing Club ..102 10 0 — BANKS— Commercial of Aust. (ord.) 0 13 1 — National of N.Z — 4 13 0 Now Zealand 2 6 6 — FINANCIAL — Goldsbrough Mort ... 0 17 0 — Abraham and Williams (pref.) — 4 17 6 N.Z/. Guarantee Corp. (ord.) — 0 b 0 GASAuckland (paid) — 1 2 10 Gisborne — 0 10 0 INSURANCE— National — 0 13 3 South British — 2 12 6 MEAT PRESERVING— N.Z. Refrigerat. (10s) 0 1 4 — TRANSPORT— Huddart-Parker (ord.) — *1 5 0 P. and 0. stock 1 11 0 1 17 0 WOOLLEN— Wellington (ord.) .... — 5 0 0 COAL— Westport — 1 5 0 TIMBER— Leyland-O’Brien 1 0 6 1 4 0 BREWERIES— New Zealand 1 13 0 — Staples and Co 1 10 9 1 13 0 MISCELLANEOUS— British Tobacco (ord.) 1 7 0 — Burns, Philp and Co. 1 7 0 1 10 0 Dunlop Rubber 0 6 0 — 0 Howard Smith (ord.) . — 0 9 National Electric — 0 11 0 Newton King (pref.) — 0 12 0 Wilson's Cement 1 17 0 1 18 9 OILTaranaki 0 2 6 0 5 0 MINING— Mount "Lyell 0 18 6 — Waihi — *Cum. dividend. 0 15 9