STOCK EXCHANGES

New Zealand Herald, Volume 78, Issue 24083, 30 September 1941, Page 3

STOCK EXCHANGES

YESTERDAY'S SALES RETURN ON INVESTMENTS In the following list of yesterday's sales, yields allow for exchange and British income tax where necessary, and, in the case ot loans, redemption and brokerage, hut no allowance is made tor social and national security taxes on dividends on which these are payable:—AUCKLAND EXCHANGE fiale Price Kiseor Yield £ s d Fall £ s d War Loan, 1 lo . 87 7 0 -f 2s Od SDo.. 1 51 ■>), 3 . . 1)7 30 0 S British (2):> (i +os Od *3 12 0 SPukumiro (r.d.) .. OIS 0 (5 9 9 Dom. Brew. 3 10 5 X.Z. Brew. . .1 Hi o David .Jones 115 ->/ a ... n r; Farmers' Trad. 1 2 o 0. ,T. Coles 3 r» O -3s 5 7 8 1.C.1, fprcf.) 1 4 f) +3(l 4 030 X.Z. Fort. . 3 0 3 +3d 53S <; Also. —Stock, 15/2/43-40, 4. £'101; Auckland Gas, perpetual stock, £O2 30s 02); Clulha Gold, is lid; Koinata Beefs, ss: Una Lull, Is 7d. Wellington.—jStock, 35/5/49-52, 4 £3OO IOs; Sdilto, 15/0/52-55, 4, £107; SChristcinircli Drainage, 30/0/03, 4£llo- W.iiloiiio Power, l/S/45-50, 4V,. *£3o3; ISouth British, (ids fid; Standard Insurance, ois 9d; Gear Meat, 355; Woolworthfi Holdings, 10s fid. Christchurch.—Slab Hut (ss), 4s 6d (3). Dunedin.—Stock. 15/0/57-00. !i%, £O9 lOs--1 •">/'),'52-55, 4, £107; National Bank New- Zealand, 30s; Hume Pipe, lis 7'<, - IX, r (pref.) 24s 9d; G. J. Coles, oT>s 3d;' Clntha, Is Od. 'lncludes bonus. §Sales after hours on Friday. SYDNEY MARKET BRIGHTER EASIKR VALUES IM'LING 1 Heed. 9.t0 p.m.) SYDNEY, Sept. 29 'Hie uharcmarket was brighter to-day, bm prices were generally lower than last week, -ales included; — Bank Sew South Water. i_'(> 3>; Commercial Bank Au.-tralia, 31b 3d, Anthony Hordern. 11- od; AtMrahiMiia Paper, A.C.1., !>s fill, i-?,- ;jd; dit<o 11:011.1, 12s 9d; British Tobacco Kir (id; Bonds Industries, 2s>s; Burns. Phi Ip. 525; Broken Hi!! !'!>., s; Colonial Sugar, £lO -V; Felt and I extiles, 3(»s 30' id; General Industries, !*s 3d; M aconite, 27s (id; Morris Hedstrom, 23i»; Bulolo, 90s; Aruhura, 20s 4d; Austral New Zealand Gold, 355.

BUSINESS ON SATURDAY Business in Sydney on Saturday included:— Tooths, 52s 9d; A.G.1., 4Ss (id; Broken Hill I'ty., 30s, 38s 10Vji; ditto, 27s 7%d; Colonial .Sugar, £49 Os; Dunlop fiubber, 22s fid; Electrolytic Zinc (prof.), ,>Js 4 w 2 d; G. J. Coles, Splfrtdges (A'asia), Yarra Falls, ■lss; A rah ura, L'fis; ditto (def.), 2:!s; Emperor, i'-'.s; New Occidental, 15s; Snowy Itiver, M !)d. Dealing in Melbourne on Saturday included:— Union Bank, £0 His; Australasian I 'a per. 30s lid; Broken Hill Pty., 38s lOd; ' ox Bros., Ts Id; Dunlop Kabber (pref.). •id; 'Electrolytic Zinc (pre!.). 51s fid; Electronic Industries, 12s fid; Felt and Textiles irights), <;.s Od; Howard Smith, 22s Gd; Emperor, 12s. RELAPSE IN LONDON MARKET LONDON, Sept. 28 Following the collapse of the recent boom tendency, due to over-optimistic hopes of an early victory, stock markets last week pen- < rally relapsed into a watching-and-waiting mood. Most speculators evidently were anxious to reduce commitments, pending the result of the renewed German assault on Leningrad and the new drive against the Crimea. Clearing hanks' September balance-sheets probably set a new high by revealing that deposits had reached the £3,000,000,000 mark for the first time. COMPULSORY SAVINGS

PART IN THE WAR EFFORT LONDON, Sept. 20 The Australian war-time contribution plan, incorporating the germ of Mr. J. M. Keynes' compulsory savings idea, is one of the features of the Australian Budget most discussed in London. There is a growing feeling that the similar scheme in the United Kingdom must be further extended to secure an increased war effort. The Financial News argues that the incentives of profits and earnings should be restored to industry, and contends that attempts to take profit out of the war has notably succeeded in taking much force from the war effort. The Financial News recommends lowering the excess profits tax from 100 per cent to 60 or 70 per cent, a nil more attractive wage rates in essential industries, coupled with the limitation of dividends, to prevent the distribution of additional industrial profits, and to control aggregate spending on consumption by rationing expenditure on unrationed goods. These suggestions, combined with the introduction of prizes for high output, indicate the lines on which an important section of financial opinion has been working recently. Newspapers hint increasingly that too much emphasis has been laid on inflation to the detriment of production. More conservative quarters re-emphasise the potential difficulties of the post-war monetary position, especially debts. They foresee vast, unbridled inflation. The Economist urges more State control and effective central planning in the technical field and a centralised wages policy, guaranteeing the post-war welfare of the workers now wrested from a normal livelihood.

GRAIN -AND PRODUCE HEAVY MAIZE SUPPLIES 'the following is the official market report "f tii,' Auckland Grain, Seed and Produce Merchants' Association:— Wheat.—Good stocks of Australian wheat are held by merchants and this is meeting •uUi a ready demand. Prices from merchants' stores remain steady et from 7s 3d to 7s -id a bushel. Maize.—Heavy supplies of maize are available with a normal demand. The bulk of the business is being 1 done by direct railing from the Bay of Plenty at special prices, while the deliveries from merchants' stores are priced at from 7s <M to 7s Sd a bushel. Stockmeal.—Good stocks are lield by merchants, and the demand is now being supplied from merchants' store stocks at the unaltered price, £lO 17s (id to £ll 10s a ton. Oats.—Oats are firm and a difficulty continues to secure supplies in good quality. The price is 5s 3d to 5s -Id a bushel. Barley.—Good stocks of barley are held bv merchants. The demand is auiet and the price steady at undipped, 5s lOd to Gs a bushel, clipped 6s 3d to (is <>d. Barleymcal.—Bnrle.vincal is meeting- with a normal demand at from £l3 to £l3 los a ton. Bran.—Stocks are very low and strictly rationed. Chaff. — A normal demand continues. The market is steady and the price from £lO los to £l.l 10s a ton.

EMPEROR DIVIDEND Emperor Mines (Fiji) has declared its lltli dividend, amounting to 'id a share, payable October :U. The rate is unchanged. MINING RESULTS CI n< ha (Otago).— 37o;:. for 131 hours, okurito OV est land). —ts'voz. for JlO hours. , (! illespie's Beach (Westland). — 10/sOZ,; ! (i. 1 (Kiyils; 13a hours. White's Electric dredge, which recently censed work at Barryiown, is to be moved to AYaipuna. on the Grey Hiver, where there is an area which will provide a working life uf from eight to ten years. PUKEKOHE PRODUCE (0.C.) PUKEKOHE, Monday The quantity of new potatoes coming forward from growers at I'ukekohe is now increasing. and the slim has receded from (id ] U >r It), to round a »d since last Monday. \ frost this morning aid some damage among crops on the low levels round Ihe town and the effect may be seen in a shortage of supplies later in the season. The small supplies <d I'ukekohe onions remaining here continue to go out at prices round about *2!)s per ewt. The season for Drumhead cabbages is closing. This variety continues to sell at 14s a Chapman bag. but spring cabbages are now coming forward at 13s a Chapman bag. Cauliflowers are at 12s a Chapman bag, with the volume of orders greater than the supplies. Carrots are at Ss a sugar bag, parsnips at lis, and beetroot and swedes at 5s fid. l,ettuco is going away at price? round about lis a case. Onion plants still sell at 5s fid a thousand, but supplies are now becoming ,-hort. Tomato and celery plants bring 5s a tray of 50, while flower plants are at 5s ami 5s (id.