STOCK EXCHANGES

New Zealand Herald, Volume LXXVII, Issue 23829, 3 December 1940, Page 3

STOCK EXCHANGES

YESTERDAY'S SALES RETURN ON INVESTMENTS In the following list of yesterdav's sales, yields allow for exchange and British income tax where necessary, and, in the case of loans, redemption and brokerage. AUCKLAND EXCHANGE Sale Price Bise or Yield £ s d Fall & s d Sth. Brit. (2) 2 0 3 -3d 219 4 Ditto 2 9 9 +3d 218 8 Oair.aru Wool 1 0 0 Dom Brew. . 110 0 *6 13 4 A.C.I. (2) . 1 19 3 Farmers' Trad. 019 3 Tar. Oil Dev. 0 2 11 -4d Ditto (3) . . 0 .3 0 -3d Also: South British, 49s 6d. Wellington.—lnscribed stock, 31/5 54-58, 4, £IOO 12s fid; §Ditto, 15/5/49-52, 4, £lO4 10s; ditto, 15/6/32-55, 4, £IOO 10s; fWar loan, 1/10/53, £BO 10s, Bank Australasia, £B 10g; Bank New Zealand, 40s fid, 41s Od; jjSouth British. 49s fid; Equitable Building (deb.), lis lOd; § West port Coal, 22s "Vjd; §Macduffs (pref.), 19s fid; New Zealand Refrigerating (con.), 9s Td; McKenzies Stores, 455. Christohurch.—lnscribed stock, 31/5/54-58, 4, £lO6 10s (ex int.); New Zealand Breweries, 31s 8d (ex div.); fjA.C.I., 39s 3d; ditto, 39s 2d; §Woolworths (N.Z.), 15s 2d (ex div.); McKenzies Stores, 455; Waihi Investments, 4s 4d. Dunedln,—Dominion Fertiliser, 27s 6d. 'Based on interim dividend at rate per annum. ISaies after hours on Friday. BUSINESS IN AUSTRALIA STEADY PRICES RULING (Received December 2, 8.30 p.m.) SYDNEY, Dec. 2 There was fair trading on the Stock Exchange to-day. Prices were steady. Sales included: —Commonwealth bonds, 1941, 4 per cent, £IOO 12s Od; 1955, 4 per cent, £lO9 6s 3d; Commercial Bank Australia, 14s 9d; Goldsbrough-Mort, 265; Australian Gas B, £6 13s; Tooth's Breweries. 53s 3d; A.C.I, (con.), 25s 4y 2 d; British Tobacco, 49s 3d; Broken Hill Pty., 465; Cash Orders, 18s; Colonial Sugar, £4B 12s 6d; Fairymead Sugar, 34s 6d; Peters Ice, 22s 4Y 2 d; Mort3 Dock, 18s; W. Adams, 15s l%d; Woolworths (Syd.), 17s 9d; Mount Morgan, lis 7d; Oil Search, ss. FOREIGN EXCHANGE Closing t-elesrraphic rates for purchases and sales of foreign exchange Auckland on overseas centres yesterday were supplied by the Bank of New South Wales as follows: —- December 2 Buying Selling T.T T.T. New York: dol. to £ .. 3.2542 3.2050 Montreal: do!, to £ .. 3.6039 3.5290 Greece: drachmae to £ Java: fl. to £ .. .. 6.1.87 6.004 Manila: pesos to £ .. 6.559 6.442 Hongkong: pence to dol. 18% 19 1-32 India: pence to rupee . 22 5-32 22 49-64 Ceylon: pence to rupee . 22 5-32 22 49-64 Shanghai: pence to d01. . Singapore: pence to dol. 34 41-6-1 35 41-64 Sth.'Af.: £N.Z. £S.A. 100 123 125 London-: £N.Z. £sfg. 100 124/7/6 125 Aust.: £A. fN.Z. 100 . 100/10/- 100 Fiji: £F, £N.Z. 100 .. 90 SS/12/6 RISE IN BANK DEPOSITS SUITABLE BORROWERS SCARCE Reference to the high level of trading bank deposits in New Zealand and the difficulty the banks experience in finding suitable borrowers was made by Mr. R. W. Gillespie, president of the •Bank of New South Wales, in bis annual address to proprietors in Sydney on Friday. With the rise of deposits and fall in advances, Mr. Gillespie pointed out, the ratio of advances to deposits, which was as high as 94 per cent in November, 1938. had been falling steadily, and was only 59 per cent at the end of last September. The prospects for selling more New Zealand produce, butter and cheese in particular, were good, he said. In general, the chief limits to what New Zealand could sell abroad were the availability of shipping and the productive capacity of the Dominion. SOUTHLAND LAMBS EARLY OPENING OF WORKS Southland lambs are in a more forward condition than for several seasons, and this has enabled a decision to bo made for the opening of the Southland freezing works at one of the "earliest dates on record. Killings will be commenced at Makarewa on December 13 and at the other two works within a few days of that date. It is expected that many growers will be able to send away large drafts of lambs of good weight before Christmas. GRAIN AND PRODUCE HEAVY DEMAND FOR BRAN Following is the official market report of the Auckland Grain, Seed and Produce Merchants' Association. Prices are f.o.b. or f.0.r., Auckland. Wheat. —A shipment is expected from. Australia shortly and on discharge, ex ship orders will be delivered. Current requirements are being supplied ex merchants' store stocks at 7s 3d to 7s 4d a bushel. Barley.—This line is meeting with a steady demand ex Government and merchants' stores. The price is steady ex Government stores for a minimum of 10 sacks, cash before despatch, at 4s 6Mid a bushel. Lesser quantities ex merchants' stores, undipped. 4s lid to 5s & bushel; clipped, 5s 4d to 5s 6d a bushel. Maize.-—Heavy deliveries of maize arS' being made in completion of monthly orders. Stocks with merchants are good and the demand steady at 7s 7d to 7s 9d a bushel. Oats. —The demand is dull, although the market remains firm _on _ account of limited supplies only. The price is 5s lid to 6s 3d a bushel. Bran. —The demand for bran is heavy and stocks are light. Deliveries of local and Australian are being made. The price for Australian remains unaltered at £9 10s to £9 15s a ton. Wheatmeal. —The demand is heavy and stocks light. The price remains unaltered at £lO 10s a ton, less If, per cent for a minimum of one ton. Smaller quantities, £ll 5s to £ll 10s a ton. Chaff.—Chaff is slow of sale with am pi a stocks to meet the demand. The price is £ll 5s to £l2 a ton. LOW POTATO PRICES RATES FOR GREENS VARY [from our own correspondent] PFKEKOHE, Monday Ample supplies of new potatoes continue to be available at Pnkekohe and sales remain at the very low level of 6s per cwt. Fine weather has been experienced over the past few days, and the samples in many cases are particularly good. The price, however, is still well below cost to growers. The demand is steady, but below the average for this time of the year. The first of the new season s green onions are now coming to hand. They are selling at 17s Oct a sugar bag. on rail Pnkekohe. New season's carrots are at 7.s Od a sugar has. T r ade in green vegetables from Pukekohe is at present very slack and quotations vary in accordance with the variations in city auction rates. Tomato plants are still selling at 4s 6d a box of 50. DIVIDENDS ANNOUNCED The Pevonport Steam Ferry Company, Limited, has declared tho usual interim dividend of 2 I A per cent, payable on December McKenzies Department Stores, Limited, has declared an interim dividend of 5 per cent, payable on December IS. This compares with an interim payment of 7 per cent in the last financial year, when the full rate was 14 per cent. The North Auckland Farmers Co-operative has announced that the dividend of Jo- r cent on A and B- preference shares will be payable during this week. In the previous year the shares received 4V, per cent.