STOCK EXCHANGES

New Zealand Herald, Volume 78, Issue 24103, 23 October 1941, Page 5

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 of loans, redemption and brokerage, but no allowance is made for social and national security taxes on dividends on which these are payable: AUCKLAND EXCHANGE Sale Price Wise or Yield £ s cl Fall £ s d War Loan, 1/30/53 . SS 2 0 +2s6d 61k., 15/0/57GO, 3' 4 , 99 10 0 +os 3 5 6 Bank N.S.W. (odd lot) . 2S 10 0 ißank N.Z. 2 0 0 Ditto .. 2 0 j'A +V/-4 a u u Don). Brew. "1 11 o SA.C.I. 2 7 (j -4s Gd 3 7 5 Col. Sugar . 52 10 0 -20s 3 4 0 W'wths (N.Z.) O 14 3 Also. —Bonds, 15/2/43-46, 4, £'lol 7s Gd; Stock. 15/2/43-4G, 4, £IOL 7s Gd. Wellington.—§ War Loan, 1/10/53, £BB 58; IStoek, 15/1/50-59, 3VJ, £100; ditto, 15/5/4052. 4. .£" 106 ss; §Bank New Zealand, 40s; Sditto, 40s Id; Sditto (D niort.), 325; ditto, 325; New Zealand Insurance. 70s Gd; National Mortgage A, 40s j Christchurch Gas. 235; IDominion Breweries, 31s; ditto, 31s; New Zealand Breweries, 30s; SA.C.I., 47s Gd; Macduffs (ord,), 9s; 5 Woolworths (N.Z.), 14s 2d; S Wool worths (West Aus.), G3s. Christchurch.—Stock, 15/4/46-49, 4. £103; Ellesmere Power, 1/10/GG, 3M>. £IOO 10s; N.Z. Co-operative, 1055. 4%, £B7; New Zealand Breweries. 30s; Colonial Sugar, £52 10s; Una Hill. Is 2VSd. Unofficial list: Associated (lolil Dredges (15s), 14s 3d, 14s 4d (2). Dunetlin.—Stock, 15/4/40-10, 4, £103; National Mortgage A, 40s; Woolworths (N.Z.), I Is 3d. § Sales after hours on Tuesday.

SYDNEY MARKET BRIGHTER PRICK LKVKLS UXCHAXOi:i) ' R.-cd. S.'JO p.m.) SYDXKY, Oct. 'J'J The frliartiiiiirket was bripiiler Unlay, but without appreciable chanrre in price levels. ;11 r- .nclu'lni: - Commercial Bank Australia. 1 •'{> fi<l ; (onimercial Rankin-.? Svdnev. cl«> MIS; Tool lis. r,2a. A.CM., 1 t' -P.il; Associated Xeu s. l'_S; ditto tjircf.), 15s Id; Australian Iron and Steel, prof. (c\ div.t. uns 7d; British 'J'obnrco, -15s; Dmslop Rubber, (id; Burns. Philp. r>(js; Broken Hill Ply., :J7s; Victoria Xyan/.a, Ss Id; Broken Hill South, •_'< is Od; Kawanp, 7d; Kuala Kampar, i ss O,J. SECURITIES IN LONDON LONDON. Oct. 21 On the London Stock Exchange Quotations for bank shares and other corporation debentures and stocks, with comparisons for October 7, are:— Oct. 7 Oct. 21 £sd £ s d Bank of Australasia 7 0 o 7 (> 0 I*.. 6. and A. . . .'i 3 f) ,"5 5 0 Union Bank . .. 5 12 6 5 7 fi Xeiv South Wales . 21 t) 0 20 10 0 Xational Bank N.Z. 1 G K 1 <> 3 Bank New Zealand ISO 189 British Tobacco .. 1 15 o l 15 o Ooldsbrough-Mort 1 1 :J lis Dalgety . . ..5 0 0 5 2 (> I'. and O. (def.) ..17!) 17 4 1 /, Loan & Merc, (deb.) 7.") 10 0 7f> 10 0 Loan & Merc, (ord.) 25 10 0 25 10 0 FUTURE OF BUTTER THREAT FROM MARGARINE PROBLEM AFTER THE WAR Competition between butter and margarine would be one of the main problems affecting the dairy industry after the war, said Major J. R. King, of Sydney, when presiding at the annual meeting of Empire Dairies, Limited. Major King is a member of the Export Control Board of Australia. He added that margarine had been given preference during the war, and dairymen ■would have to rectify the position in the future. Major King said the Australian Control Board was arranging for post-war conditions by establishing an advertising fund, raised by a pvy on all export butter, by which it hoped 'o obtain £250,000. Half of this sum had tveen collected-. The fund would be utilised to bring butter back to its pre-war consumption if possible, not only in Britain but in any other available markets. Australia hod increased its cold-storage capacity so that three months' supplies could be held at the peak of production in case transport facilities broke down. The Government would find 50 per cent of the cost of these extensions.

Considerable attention had been given by Australia to the switch-over from butter to cheese, and in Queensland, Victoria and South Australia the change would be extensive. Britain had promised to take 40,000 tons of cheese annually, but Major King considered it doubtful if Australia would produce anything like that amount this year. The present dry season in two of its main producing States would seriously affect production. The annual report of the company stated that owing to abnormal conditions in Britain turnover was only £4,400,000, against 15.750,000 in a normal year. Also present at the meeting was Mr. P. Daley, a director from Queensland.

McKENDRICKS' OPERATIONS

INCREASE IN BUSINESS An increase in the business of every department with the exception of metals, which are still subject to an export embargo, was reported at the annual meeting of shareholders of McKendrick Bros., Limited, yesterday. The deputy-chairman, Mr. E- H. Montgomery, presided in the absence of the chairman, Mr. G. A. McKendrick. Mr. Montgomery pointed out that the company's stocks of metals were considered a valuable asset and it was hoped the embargo would be lifted when times again became normal. Reference was made by the chairman to the conservative nature of Uie balance-sheet. How far in the future companies' operations may be affected by world affairs and legislation was a new problem to business concerns of many years' standing, and from that aspect the directors' policy must be deemed a prudent one. Turnover had increased largely and the company was now in a position to face with good prospects of expansion any competition that might arise. The retiring director. Mr. J. W. McKendrick, was re-elected, and a vote of thanks was accorded to the staff.

CANTERBURY GRAIN CROP HANDLING OF HARVEST Steps aro now being taken to ensure the expeditious handling of Canterbury's grain crop in the 1941-12 season. The need for measures such as rationalised transport, the even spreading of deliveries, and quick handling at the stores and mills has been brought about by the concentration of harvesting work resulting from improved and more widely used mechanical methods. A conference of all interested bodies will lie held in Timaru shortly to deal with the position there, after which tlio conference which discussed the general Canterbury position early this year will be resumed in Christchurch.

MINING YIELDS

Artro I West Coast). —2l)oz.; 10,100 yards; 121 hours. Golden Sands (West Coast). —53?ioz. from 51 shifts KANIERI DREDGE RESUMES (0.C.) GREYMOUTH, Wednesday Idle since September because of extensive damage to a watertight compartment, in the uellway, the Kanieri gold dredge resumed digging yesterday. In order to effect the necessary repairs a coffer dam had to be built round tho damaged portion and steel plates renewed. EXPORT LEVIES ON HIDES [BY TELEGRAPH —PRESS ASSOCIATION*] WELLINGTON, Wednesday The Hides Committee advises that the export levy on ox hides and cow hides is increased by %<l per lb. The levy on bull hides and yearling hides remains unchanged. These rates are to operate on all hides purchased in accordance with the Hides Emergency Regulations. 1040 (No. 2), and which become free for export on and after to-morrow. The former rates were:—Ox hides and cow hides, l%d per lb; bull hides, %d; yearlings, 1