WELLINGTON STOCK EXCHANGE.

Manawatu Standard, Volume LIV, Issue 210, 4 August 1934, Page 5

WELLINGTON STOCK EXCHANGE.

YESTERDAY’S BUSINESS AND PRICES.

A very active demand for Government loans and an improved inquiry for bank shares were the principal features in the Wellington market yesterday. Otherwise business was rather quiet. All Government issues were wanted, mostly at advanced rates, but there was no response from holders. Quotations for bank shares showed very little change. Reserve Bank sold firmly at £6 6s 3d. New Zealand were done at 475, and the long term at 345. National of New Zealand were weaker at 72s 6d and National of Australasia were also easier. Commercial of Australia were a shade better at 15s 4d. An advance to tho record high level of 82s 9d was made in a sale of South British Insurance, and buyers stayed in at 82s 4d. Other insurance shares were steady at about late rates. There was no change of note in any other section. YESTERDAY’S QUOTATIONS. The latest buying and selling quotations recorded yesterday on the Wellington Stock Exchange were as follow: — Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £a. d.

YESTERDAY’S SALES. Sales recorded on’ Dominion Stock Exchanges yesterday are shown in the following list: Wellington.— Bank of N.Z. (2) £2 7s, ditto D. mortgage (2) £1 14s, Reserve Bank £6 6s Sd, Wellington Gas £2, South British Insurance £4 2s 9d, Colonial Sugar £64 128 6d, Skippers 9d, Auckland. —Takapuna Borough, 4§ p.c., 1964 £lO5, E.S. and A. Bank £5 Os 6d, Reserve Bank (2) £6 6s. National Insurance 19s 6d, N.Z. Insurance £5 2s 6d, South British Insurance £4 2s 6d, Farmers’ Auction, B pref £l, Auckland Gas £1 5s 3d, Union Steam, pref., £1 7s, Kauri Timber 17s . 9d, . Gear Meat £1 4s 6d, Sun Newspapers 4s 2d, King Solomon 4s, Mahakipawa lOd, Skippers lOd, Gillespie’s Beach 2s, ditto 2s o£d. Christchurch.—Comm. Bank of Aust. (2) 15s sd, ditto 15s 6d, National Bank of N.Z. £3 15s 6d, Reserve Bank (3) £6 6s, A.P. Assurance (2) 10s 2d, National Insurance (2) 19s 6d, Goldsbrough Mort £1 8s Bd, Christohurch Gas, cont., cum div. 15s 3d, ditto 15s 4d, N.Z. Breweries (2) £2 3s lid, Beath and Co. £1 13s. British Tobacco £1 16s lOd, D.1.C., 10s paid 15s lOd, Dominion Fertiliser 18s sd, Big River Is, Brian Boru Is 6d, ditto Is sid, Kildare 2s 2d, Mahakipawa lOd, Mount Lyell (2) £1 Is 3d, Skippers (2) 9Ad. Sales reported : Bank of New Zealand £2 7s 3d, ditto (2) £2 7s 6d, N.Z. Breweries £2 4s 6d, Woolworths N.Z., ord. *£6 17s 6d, Mount Lyell £1 Is 3d, Glenroy Is 2d; Maerewhenua 4ld. Dunedin. —Reserve Bank (2) £6 6s, E.S. and A. Bank £5 Os 6d, Union Steam, pref. £1 7s, N.Z. Refrig., £1 paid, 18s Bd, Kildare 2s lid, Bendigo Goldlight (2) Bd, Gillespio’s Beach Is llid. SYDNEY STOCIC EXCHANGE.

MARKET MORE ACTIVE. SYDNEY, Aug. 3. On the Sydney Stock Exchange to-day, rises were recorded by the Bank of New South Wales and the Commercial Bank of Sydney, while brewery shares were stronger. As a result of the Stock Exchange committee’s decision to allow forward business on unrestricted lines as from Tuesday next, most of the more speculative, gold issues were sought at advanced prices. Sales: Bank of New South Wales, £3O ss; Commercial Bank of Svdno.v, £l6 15s; National Bank of Australasia, £5 paid, £6. Associated News, 21s 3d; ditto, pref., 235;

British Tobacco, 375; Tooths, 455; Toohcy’s, 27s 6d; Dunlop Perdriau 18s 6d. Golclsbrough Mort, 28s 9d; Winchcombe Carson, 30s; Wilcox Mofflin, 11s 6d; Greater J. D. Williams, 7s 6d; Henry Jones, 31s; Millaquin Sugar, 29s 6d; Anthony Hordern, 14s 6d; ditto, pref., 24s 3d. Mt. Morgan, 25s Broken Hill Proprietary, 46s 6d; South Broken Hill, 755; Bulolo Gold, £8 2s 6d; Bulolo Deposits, 9£d; Rawang Concessions, 30s; Rawang Tin, 9s 6d; Placer Dolovolpment, £25 15s; General Industries, 12s 9d.

MELBOURNE, Aug. 3. Sales on the Melbourne Stock Exchange to-day included: —Commercial Bank of Australia, 15s 7d; National Bank of Australasia, £5 paid, £6; Dunlop Perdriau, 18s 6d: ditto, pref. 35s ljd; Electrolytic Zinc, 25s IPid; British Tobacco, 36s 9d; Broken Hill Proprietary, 463 6d; South Broken Hill, 755.

LONDON STOCK! EXCHANGE. LONDON, Aug. 2. Despite tho influence of the approaching public holiday, which usually produces dull conditions, tho stock markets aro showing unusual buoyancy. Practically all departments show an unexpectedly good tone, and to-night they left off with a firm appearance. British Government stocks wero strong and tho same applied to German and Austrian bonds. Home industrials, gold mines, internationals, and Homo and foreign railways also all favoured holders. BASE METALS MARKET. COPPER SLIGHTLY IMPROVED. LONDON, Aug. 2. The official London (middle) quotations for Thursday, as reported by tho Australian Mines and Metals Association, compare as under with those previously cabled :

CHILLED BEEF

OPERATIONS IN DOMINION

THE PRODUCERS’ TASK

Factors governing the extension of the chilled beef trade are dealt with in tho annual report of the New Zealand Meat Producers’ Board for tho year ended June 30, 1934. “Now that it has been proved that chilled beef can be successfully landed in the United Kingdom, it is necessary to ensure that shipments arrive regularly and aro well spread,” states the report. “The quality of the cattle treated for the trade is the most important factor contributing to its successful development, and it is essential that shipments of chilled beef right from the inception should be confined to cattle of the right type. Every effort should be made to establish a good name for our beef, and the board has decided to undertake the grading so that only beef of suitable quality will be exported. “The standard of living of the British public has risen gradually since pre-war days, and quality is the dominant factor which prevails in the sale of all meat. The outlet for frozen beef is being restricted, there -being a growing tendency to prefer chilled beef to frozen. Years of specialisation have given the Dominion lamb trade a reputation which is a national asset, and the same skill and organisation are needed for chilled beef. The average farmer must overhaul his methods of producing beef. What the trade requires is a well-bred, compact a.nd wellfinished beast, the ideal ago being about 2J to 3 years. “Importation of new blood would no doubt improve the quality,” continues the report. “However, there are at present good strains of beef cattle in the Dominion, and _ the important thing is to use care in selecting the breeding type. Whatever type is selected, the fattening process should begin as early as possible.” The report refers to the need for driving cattle slowly and resting before slaughter, and recommends dehorning as a means of eliminating bruising- “The chilled beef trade is a much more delicate and complicated business than the frozen meat trade, and the treatment given to cattle prior, to slaughter, at the freezing works and on board ship has a marked bearing on the final result,” . it states.

4 p.c. Bonds, 1940 ...106 0 0 — 4 p.c. ditto, 1946 107 0 0 — 4 p.c. ditto, 1949 107 10 0 — 4 p.c. ditto, 1965 107 10 0 — 3| p.c. ditto, 1941 102 10 0 — 6 p.c. Rural bonds. 1947 104 0 0 — 3£ p.c. Ins. Stock, 1939-52 107 5 0 _ 34 p.c. ditto, 1939-52 ...107 0 0 ■ 34 p.c. ditto, 1938-52 ...107 5 0 — 4 p.c. ditto, 1940 105 15 0 — 4 p.c. ditto, 1946 107 12 6 — 4 p.c. ditto, 1949 107 10 0 — 4 p.c. ditto, 1955 107 15 0 — 31 p.c. ditto, 1941 102 10 0 — DEBENTURES— Hauraki Plains, Si p.c., 1944 — 102 5 0 Well. Gas Co. 104 0 0 — Wright, Stephenson, 0 p.c., prior lien 94 5 0 — Amid. Brick and Pipe, Wellington 99 0 0 — BANKS— Australasia — 11 10 6 Control, of Aust., ord. *0 15 4 0 15 7 Ditto, prof *0 9 9 — Comrcl. Banking Co., Sydney — |16 17 6 National of N.Z 3 12 6 — National of Australasia, £10 paid 12 0 0 — Ditto, £5 paid 5 18 0 6 2 0 New Zealand 2 6 6 2 7 6 Ditto, D long term ... — 1 14 6 Reserve Bank of N.Z. 6 5 6 6 6 6 Union of Aust — t9 15 0 FINANCIAL-— Dalgctv and Co. - 9 15 0 Equitable Bldg. Co. ... 2 5 0 — Goldsbrough lVlort and Co — 1 9 3 N.Z. Guarantee Corp. 0 4 3 0 4 7 N.Z. Loan and Merc., ord. stock — 55 10 0 Well. Invest.. T. & A. - 0 8 6 — Well. Trust, Loan 5 10 0 • Well. Dep. and Mtge. — 0 7 6 General Finance —• 0 19 0 ,, 4 SWellington, ord +1 19 6 2 0 3 INSURANCE— Aust. Prov Assce. ... — 0 10 3 National of N.Z 0 19 3 — Now Zealand *3 1 9 — Queensland 3 8 6 — South British 4 2 4 4 3 0 M EAT PRESERVING— Gear Meat — 1 5 3 N.Z. Refrig., £1 paid 0 18 7 0 18 11 TRANSPORT— Huddart, Parker, pref. — 1 10 3 Union Steam, pref. ... — 1 7 6 Kelburn Tramway .... 1 4 0 — WOOLLENKaiapoi, ord 0 11 0 — TIMBER— Kauri — 0 18 1 Leyland-O’Brien 1 3 3 National 0 7 6 — Taupo Totara, ord. ... 0 5 1 — BREWERIESN.Z. Breweries 2 3 3 2 4 6 Timaru, contrib 0 6 3 — MISCELLANEOUSBritish Tobacco, Aust. 1 16 6 — Colonial Sugar 64 10 0 64 15 0 Den. and Med. Sup. — 0 9 6 Dominion Fertiliser ... 0 18 0 — Dominion Investments 1 13 0 — D.I.C., ord 0 15 6 0 16 3 Dunlop Perdriau — 0 18 8 Electrolytic Zinc, ord. — *1 6 0 Ditto, 8 p.c., pt. pref. *1 13 8 *1 14 4 N.Z. Farm. Fertiliser *1 0 0 — N.Z. Paper Mills 1 10 9 — Rharland and Co., ord. 1 4 0 — Ditto, pref 1 4 9 — Manawatu Knitting Mills 1 3 6 — OILMoturoa, ord — 0 3 6 Taranaki 0 1 7 — MINING— Alexander, fully paid 0 17 0 0 18 6 Ditto, contrib 0 14 3 0 15 3 Bel] Hooper 0 0 5 0 0 64 Bell Kilgour 0 0 44 0 0 54 Big River — 0 1 1 Blackwater — 1 13 0 Brian Boru 0 1 5 — Central Shotover — 0 0 11 Gillespie’s Beach 0 1 104 — Golden Dawn — 0 2 3 Golden Point 0 0 1 0 0 4 King Solomon 0 3 11 0 4 3 Mahakipawa 0 0 9 0 1 0 Mount Lyell — 1 1 6 Nokomai — 0 3 6 Okarito — 0 8 4 Skippers 0 0 94 0 1 0 Waihi — 1 12 6 Waihi Grand Junction — 0 4 3 Bendigo Goldlight .... 0 0 7 — Mossy Creek 0 1 7 — Goldfields Dredging ... 0 0 10 — Kildare — 0 2 3 Bulolo 8 0 0 — *Cum. dividend. +Ex dividend.

Aug. i. Aug. 2. Per ton. Per ton. Copper— £ s d £ s d Standard, spot .. .... 28 14 44 28 15 74 Standard, forward 29 1 5 29 3 14 *Electrolytic .... 31 15 0 31 15 0 to 32 5 0 32 5 0 AVire bars .... 32 5 0 32 5 0 Lead— Spot .... 10 17 6 11 1 3 Forward .... 11 13 9 11 6 3 Spelter— .... 13 7 6 13 10 0 Forward .... 13 12 6 13 15 0 1'in— Spot .... 229 7 6 228 16 3 Forward .... 229 7 6 — Silver— Standard, per oz .. 20 7-16d 20 9-16d Fine ... 22 l-16d 22 3-16d * American, 9 cents a lb.