STOCK EXCHANGES.

New Zealand Herald, Volume LXVIII, Issue 21007, 19 October 1931, Page 3

STOCK EXCHANGES.

' SATURDAY'S SALES. RETURN ON INVESTMENTS. Following, is a list of Saturday'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 tlio figures at which the sales were made:— AUCKLAND EXCHANGE. Return on Sale Price. Investment. £sd £ s d Ins. Stk., 1937, 51 . . 99 10 0 5 12 0 Ditto . . . . 99 7 6 5 12 6 Cora. Bank Aust. (late sale Friday) 0 13 9 8 3 8 Tooth's Brewery 0 18 0 • The following sale also look place:— Kawarau, sd. CHRISTCHURCH EXCHANGE. Com. Bank of Aust. 0 13 5 8 7 8 Ditto (5) . . . . 013 4 8 8 9 Bank of N.Z. .. 2 3 10 6 11 0 Ditto (2) . . .. 2 3 9 611 1 Standard Insurance 2 0 0 6 5 0 N.Z. Breweries .. 1 10 0 8 6 8 Tooth'B Brewery 0 17 G • Mount Lyell 0 18 2 * Ditto . . .. 0 18 0 The following sales also took place:— Cornish Point, 3Jd; King Solomon, 2s 3d (2), 2s 2Jd, 2s 2d; Okarito, 10s. •Interim dividend reduced. DAIRY PRODUCE IMPORTS. FIGURES FOR GREAT BRITAIN. THE SEPTEMBER RETURNS. The imports of butter into • Great Britain from all sources for September this year and the two preceding years is shown in the following table supplied by the New Zealand Dairy Produce Board (the amounts are given in tons): —

Auckland merchants have received the following cablegrams from their London houses:— A. H. Turnbull and Company, Limited, —The market is slow. Quotations: New Zealand unsalted, 116s to 120s; waited, 114s to 120s; Danish, 128s to 130s. The cheese market is slow. Quotations; New Zealand white, 67s to 695; coloured, 68s to 70s. The New Zealand Producers' Co-opera-tive Marketing Association, Limited.— The butter market is slow. Quotations; New Zealand. 114s to 120s; unsalted, 116s to 120s; Danish, 128s to 130s. The cheese market is slow. Quotations: New Zealand, white, 66s to 68s; coloured, 67s to 695. *

PRODUCE BOARD'S REPORT. The New Zealand Dairy Produce Board has received the following market report from its London office, dated October 16, prices for the previous week being given in parentheses:— Butter. —New Zealand, salted, 114s to 120s (117s to 1225); unsalted, 116s to 120s (118s to 1225); first whey, 106s (106s); second whey, 104s (104s). Deliveries, New Zealand, 1000 tons; in store, 4750 tons. Australian, salted,. 110s to 113s (114s to 116s); unsalted, UOs to 114s (114s to 116s). Deliveries, Australian, 825 tons; in store, 1265 tons. Argentine, unsalted, 112s to 116s (112s to 116s). South Africa, 98s to 104s (104s to 106s. Danish, 1255, f.0.b.; 128s to 130s spot (1225, 128s to 130s). Dutch, unsalted, 136s to 140s (136s to 140s). Estonian, unsalted, 110s; salted, 108s to 110s (112s to 116s). Latvian, salted, 108s to 110s; unsalted, 110s (112s to 116s). Siberian, 100s to 102s (102s to 104s). Ukranian, 100s to 102s (102s to 104s). Folish, 96s to 104s (96s to 98s). Lithuanian, unsalted, 110s (110s to 114s). Market slow. New Zealand retail price, Is 3d; Danish, Is 4d. Cheese. —New Zealand, white, 66s to 68s; coloured, 67s to 69s (69s to 70s to 71s). Deliveries, New Zealand, 9950 crates; in store, 48-700 crates. Canadian, white and coloured, 68s to 70s (69s to 70s, 70s to 725); c.i.f., 67s (68s). Market slow. New Zealand retail price, Bd. English, finest farmers', 84s to 88s (80s to 85s). The board has also received the following advice from its agents in Canada: — Butter: New York, 35£ cents; Montreal, cents. AUSTRALIAN BANK MERGER. TERMS OF THE AGREEMENT. [BY TELEGRAPH.—PRESS ASSOCIATION.] WELLINGTON, Sunday. Notices of meetings of shareholders of the Australian Bank of Commerce to be held in Sydney on October 30 and November 16, are being despatched, says a cablegram from the bank to the Stock Exchange, in reply to previous inquiries. The merger agreement with the Bank of New South Wales provides that each shareholder in the Australian Bank of Commerce shall be entitled to one sharo in the Bank of New South Wales in exchange for each £34 10s paid up on shares registered in the shareholder's name on November 16, 1931. Further information is being sent by mail. THE WHEAT MARKET. London Futures. —December, 21s a quarter; February, 22s Liverpool : October, 4s 8 l-8d a cental; December, 4s 10jd; March, 5s Id; May. 5s 3d. Chicago.—December, 51£ cents a bushel; March, 55 cents; May, 55 7-8 cents; July. 56 3-8 cents. CUSTOMS EXCHANGE RATES. The following rates of exchange for customs purposes have been declared by the Customs Department, the rates being subject to confirmation when the exact time of departure is learned on the arrival of the vessels in New Zealand: — Canadian Cruiser, Montreal, dollars . . 4.35 Bullaren, Lob Angeles, dollars .. .. 4.89

1931. 1930. 1929 Denmark 10,950 9,841 8,100 New Zealard 4,910 3,554 1.804 Australia 3,403 1,376 844 Russia 2,569 2,262 434 Irish Free State ,. 2,291 3,762 3,880 Estonia 1,035 —r— — Finland . . .. 822 '693 650 Sweden 986 1,368 879 Netherlands . 505 317 485 Argentine 411 885 25 Other countries .. 1,975 793 1,489 Tctals 29,857 24,851 18,590 The following table show s the amount of cheese, in tons imported into Great Britain over the corresponding periods:— 1931. 1930. 1929. Canada 5,321 4,768 4.617 New Zealand 2,997 5,342 3,549 Netherlands . 598 611 621 Italy 511 484 477 Australia ' — 181 — Other countries . . 376 311 • 452 Totals .. .. 9,803 11,697 9,716