STOCKS AND SHARES

New Zealand Herald, Volume LXXVII, Issue 23761, 14 September 1940, Page 7

STOCKS AND SHARES

THE AUCKLAND EXCHANGE MARKET QUIETER BUT STEADY A Investors were content to play a waiting role on the Auckland Stock Exchange yesterday. Turnover was fair. Most of the issues held their ground well, and movements were only negligible. Banks were firmly steady, although New Zealands yielded some ground. Leading insurances again were active at late rates. There was little change in values among the classified groups. Australian industrials showed small price changes, although in some cases sales reflected the recent improvement. New Zealand scrip remained strong, hut there was little business to test the market. Mining shares were steady. CLOSING QUOTATIONS

STERLING EXCHANGE FALL IN LONDON FUNDS TRADING BANK ADJUSTMENTS The fact that the sterling exchange held by the Reserve Bank has fallen by over £1,000,000 for two successive weeks, together with a similar movement in deposits of the trading hanks, |is attributed by banking circles in Auckland to periodic adjustments made | between the Beserve Bank and the trading hanks. There are no overseas loans due for repayment at this time of the year. The usual day-to-day business transacted by the trading hanks is contained in a monthly return to the Beserve Bank, and adjustments are made periodically to reimburse the trading banks. As all the proceeds of exports under the commandeer agreement with Great Britain are paid to the London account of the Beserve Bank 011 shipment, only the minor oxports are handled by the trading banks. At this time of the year particularly these exports amount to very little. On the other hand, imports are reported to have been fairly heavy in recent months, so that any adjustments would he in favour of the trading banks. As sterling funds have been rising steadily in recent months, it is thought possible that the Beserve Bank has now taken the opportunity to make the necessary reimbursements. BARTHOLOMEW TIMBER J EARNINGS SLIGHTLY LOWER SAME DIVIDEND AND BONUS The Bartholomew Land and Timber Company, Limited, earned a net profit of £3049 in the year ended July 31, against £3337 in 1939 and £2607 in 1938. The directors recommend a final dividend of 2b per cent, making 5 per cent, unchanged, for the year. In addition, a bonus of 1 per cent is again recommended. *tVith £5474 brought in, there is £8523 available. Dividends and bonus require £3OOO and £5523 is carried forward. The report states there has been a constant demand for timber during the year. Sales have increased, but additional taxation has more than offset the extra gross profit. The Government housing and rural building programme should ensure a continued demand. The balancing total is £1514 lower at £73,946. Shareholders' funds now stand at £68,573. Beserve for taxes has been increased from £2135 to £3076. On the assets side, holdings of New Zealand Government stock have risen from £3839 to £4759.

Buyers Sellers £ s d £ s d BANKS, INSURANCE AND AGENCY Corn. Bank Aus.'. 0 14 8 0 15 0 Ditto (pref.) 8 12 6 9 5 0 Com. of Sydney .. 18 0 0 — E., S. and A. — 6 0 0 Nat. Bank N.Z. . 1 19 0 — Bank N.S.W. .. 26 10 0 — 6 Bank N.Z. •-> 2 3 2 2 Do. (D Mortg.) i 8 3 1 9 3 Union Bank 6 12 6 — National Ins. 0 18 4 — N.Z. Insuranco 3 1 3 3 2 0 South British o 0 9 2 10 6 Dalgety 6 10 0 7 0 0 Dom. I. A B. 0 10 6 0 17 6 P.A.C. (A pref.) . . Ditto (B pref.) 1 1 9 1 2 3 1 1 0 1 2 0 COAL, GAS, SHIPPING Renown Coal 0 10 0 0 12 0 Ditto (pref.) 0 2 6 — 3 Taupiri Coal 1 0 9 1 2 Ditto (pref.) .. 1 3 0 — Westport Coal Auckland Gas 1 0 1 8 6 1 0 8 8 Ditto (con.) 0 3 1 — Devonport Ferry .. 1 1 0 — 0 P. & 0. (def. stk.) — l 1 TIMBER, TEXTILES, BREWERIES Kauri Timber 1 1 0 — L.-O'B. Timber .. 0 13 9 — Bonds Hosiery 1 0 6 — 0 Kaiapoi (con.) 0 4 6 0 6 Dom. Brew, (ord.) 1 11 0 1 11 9 N.Z. Breweries . . 1 14 6 1 15 3 MISCELLANEOUS A.C.L. 1 16 0 — British Tobacco . . 2 5 0 — 9 Broken Hill Pty. . o 5 3 2 5 Bycroft 2 0 6 — Colonial Sugar 49 10 0 — 9 Coil. Brick 0 7 6 0 7 Dunlop-Per. (pref.) 1 10 0 1 14 0 Elect. Zinc (pref.) — 2 11 3 Farmers' Trading . 1 0 3 0 1 0 6 Ditto (A pref.) 1 2 — Ditto (B pref.) 1 1 6 — Gear Meat 0 14 0 — G. J. Coles 3 4 0 — 0 I.C.I, (pref.) 1 4 0 1 5 Macky, Logan 0 18 3 1 1 0 Milne & C. (ord.) 0 13 9 — Ditto (deb. stk.) 0 13 9 — Ditto (B pref.) 1 2 0 — N.Z. Drug (rights) 1 6 6 — N.Z. Farm. Fert. . 1 0 9 — Ditto (pref.) X 1 6 — N.Z. Newspapers . 1 9 3 — 6 Reid Rub. (new) .. 1 0 0 1 1 Taranaki Oil Dev. — 0 3 6 Taranaki Oil Fields 0 6 1 0 7 0 Union Oil, Soap . 1 •5 0 1 10 0 Wilsons Cement . . 0 19 4 0 19 9 0 Woolworths (N.Z.) 0 10 3 0 17 Ditto (props.) . 1 4 0 1 5 6 Ditto (Sydney) . 0 17 9 0 18 1 MINING Blackwater 1 4 6 Clutha 0 0 10 0 2 0 Con. Goldfieldfi .. — 0 14 3, Martha 0 7 5 0 7 7 Broken Hill South 1 5 6 1 6 0 Emperor 0 10 6 0 11 6 Mount Lyell — 1 8 8 0 Mt. Morgan (o-;d.) 0 7 10 0 3 N.Z- GOVT. LOANS Bonds — '15/7/39-41, It . . 99 15 0 — 15/1/53-57, ay, . 100 0 0 — 15/11/38-41, 3 V* 100 17 6 103 — 0 15/2/43-16, 4 . . 102 10 0 0 15/4/4(3-49, I .. 105 7 6 106 10 0 15/0/52-55, i . . 100 10 0 — Rural Bonds- — 0 15/0/47, 4 104 0 — ' Stock — 15/7/39-11, 3 .. 99 15 0 — 15/1/53-57, 37, . 100 0 0 — 15/11/38-41, 3 3 /. 100 17 6 — 15/3/40-43, 4 .. 102 15 0 103 10 0 15/2/43-46, 4 . . 102 10 0 — 15/4/46-19, 4 . . 105 5 0 — 15/5/40-52, 4 .. 15/0/52-55, 4 . . 105 15 0 — 100 10 0 — 30/11/48. 4 .. 104 0 0 —- 31/5/54-58, 4 .. 107 0 0 — S.A.C.— 6 1/0/44, 3 l / 4 . . 99 2 — DEBENTURES A.E.P.B., 15/6/59 . 107 10 0 109 10 0 A.H.B., 10/6/54 .. 105 10 0 — Ditto, 10/0/59 . 106 10 0 108 — 0 A.T.B.. 22/0/49 . 104 0 0 0 Ditto. 1/4/44-48 104 0 0 105 0 0 Mantronui. 1/4/65 — 107 10 0 Northcotc, 1/8/06 . — 109 0 0 New Lynn, 1/9/51 — 104 5 0 Abraham - Williams — 88 0 0 Amal. Brick (Ak.), 103 1/3/44, 6 . . Ditto (Wgton.), 100 0 0 0 0 31/3/44, 6 . . 102 10 0 102 — Auckland Gas —• 0 0 Gisb. Sheepfarmers, 99 0 0 31/8/41. 0% • — Renown, 1/3/54, 0 100 0 0 — Williamson Picture, 95 5/6/49, 7Va . . • ___ 0 0