STOCK EXCHANGES.

New Zealand Herald, Volume LXVIII, Issue 20978, 15 September 1931, Page 5

STOCK EXCHANGES.

YESTERDAY'S SALES.RETURN ON INVESTMENTS. Following is a list of yesterday's transactions on New Zealand Stock Exchanges. In the second column is given the return, based on the last annual dividend, from investment at the quoted price. In the case of Government and other redeemable' securities the return includes redemption. In calculating the returns on shares in companies which pay their dividends outside New Zealand exchange rates, being liable to fluctuations, have not been taken into consideration. The first column gives the figures at which the sales were made:—

The following sales also took place:—• King Solomon, 2s Gd (7); Golden Point (Is paid), Is Id (2), Is Ojd. DUNEDIN EXCHANGE. The following sale took place:—Okarito, Ss lOd (liit,e siile, Saturday). "Interim dividend reduced.

WOOL TEADE REVIEW. BRITISH FINANCIAL PLANS. EFFECT NOT YET EVIDENT. LONDON, Sept. 13. The London representative, of the Australian Woolgrowcrs' Council, Mr. W. P. Devcrcux, reports:—The National Government's proposals to deal with the finances of the country are regarded as likely to inspiro confidence, not only in Britain, but in other countries, but there has not been sufficient time to observe the effects on tlie markets. Tlio tendency everywhere in the wool trade is to await the result of the London sales next week, for which the prospects are not propitious. There is very little activity on the Bradford market. The stringency of foreign credits hinders the replenishment of slocks of tops. Several German combing mills arc working short time. Stocks of finished goods on the, Continent are light. The futures markets at Antwerp and Roubaix are slightly easier.

AUSTRALIAN WOOL SALES.

SMALLER OFFERINGS LIKELY. DOMINION BEING CONSULTED. (Received September 14, 8.25- p.m.) SYDNEY, Sept. 14. Owing to the low prices and the uncertainty of the position abroad the Australian wool offerings may be curtailed. This may be determined after the Brisbano sales, which begin to-day, and those in London to-morrow. Meanwhile the New Zealand and South African growers have been asked by cablegram for their views. The average price realised at the Sydney sales a fortnight ago was per lb. The average for Australia for the two months of July and August was 6.94 d. WOOL IN NEW ZEALAND. STOCK FIGURES DISPUTED. The estimate of the Government Statistician that thcro were 280,000 bales of accumulated wool in New Zealand at Juno 30 is disputed by the president of the New Zealand Woolbrokers' Association, Mr. A. E. Mabin, who, after commenting that the figures require some elucidation as they appear at first sight to differ from those published by Dalgety's for the same period, says:— "The essential point is.: What is the quantity of greasy wool belonging to growers of the last two" seasons' product hold back in New Zealand ? The Government Statistician estimated that there were 73,495 bales in brokers' stores and 107.564 hales in farmers' sheds, a total of 181.059 hales. Dalgety's figures were 63.262 bales and 118.541 bales respectively, a total of 181,803 bales. These figures practically correspond. The statistician, however, goes further. He takes into reckoning other wool, much of which is normally in the Dominion at this period of the year, and should not be considered as representing an abnormal carryover. These arc: Stocks at woollen mills, 15,784 bales; freezing works, 28,414; scouring works, 11.303; shipping stores, 21,682; harbour sheds. 2414: railway sheds, 2722; a total of 82.319 hales. "The woollen mills must carry stocks of wool bought early in the year to keep their looms going until the following seasun. This wool goes off the market altogether. The freezing companies ordinarily have slipe wools for shipment in the latter half of the season. They spread their shipments over the year. Scourers accumulate wool in the buying season to keep their works operating during the winter and spring. The wool in shipping stores, harbour board sheds and railways probably is wool in transit at June 30 to overseas destinations, less an unknown quantity belonging to buyers who may bo holding the wool back for later shipment. During July and August 33,684 bales havo been shipped, much of it slipe wool. This has reduced the quantity in freezing works and shipping stores accordingly. "When all is summed up," Mr. Mabin says, "the onlv matter of significance is the total of 181,803 bales of growers* greasy wool being held for better prices." BEATH (N.Z.). LIMITED. ORDINARY DIVIDEND LOWER. The Auckland Stock Exchange has been advised by the directors of Beath (N.Z.), Limited, Christchurch, that a dividend of 3 per cent, has been declared on ordinary shares, making 8 per cent, for the year, and 2f per cent, on the preference issue, making 5£ per cent, for the year. The dividend is payable on October 1. Preference dividend is unaltered, but there is a reduction of 2 per cent, in ordinary dividend, which was 10 per cent. last year.

, AUCKLAND EXCHANGE. Return on Sale Price. Investment. £ s d £ s d Govt. Bonds, 1937, 51 95 12 G G 7 n I us. Stock, 1937, 51 95 17 6 C G ii Com. Bk. Aus. (-) 0 12 11 8 H 2 Bunk of N.Z. (2> . . 2 2 0 G 16 G Auckland Gas . 1 3 0 G 19 o Waihi 0 15 7 12 16 8 WELLINGTON EXCHANGE. Bank of N.Z. 2 1 5 6 18 fi Ditto 2 1 0 6 19 10 '1'ho following sale also took place !: — Australian Bank of Commerce, 13s 3d. CHRISTCHURCH exchange. Ins. Stock. 1933, 51 96 15 0 7 6 4 Ditto, 1937, 51 96 0 0 6 G 4 Ditto 96 5 0 6 5 3 Ditto, 1938, 41 95 12 6 5 5 4 Govt. Bonds, 1937, 51 95 0 0 6 10 7 Com. Bk. of Ana. (9) 0 13 0 8 13 1 Ditto 0 13 3 8 9 10 Goldsbrough-Mort (-1) 0 16 G G 1 3 Ditto . 0 16 9 5 19 5 N.Z. iiefrig. (10s pd.i (2) 0 3 8 — Mount Lyell 0 15 0 ♦