COMMERCIAL

New Zealand Herald, Volume 80, Issue 24631, 9 July 1943, Page 5

COMMERCIAL

AUCKLAND EXCHANGE ADVANCES MAINTAINED Business was again active on th® Auckland Stock Exchange yesterday, , although turnover did not reach Wed-'-nesday's high level. The advanced values were firmly held and fresh gains were made by JReid Rubber, McKenzie's Stores, Taupiri Coal and Farmers' Auctioneering (£1 paid). An exception.' to the general trend was Northern Roller Mills, which changed hands at 1 21s 9d, a drop of 2s 9d since the last*! sale in April, insurances were active at' the new nigh levels. CLOSING QUOTATIONS

YESTERDAY'S SALES RETURN ON INVESTMENTS The following aro yesterday's sales, th» figures in parentheses in the .Auckland list showing the return at the sale price:— Auckland. —Liberty Loan, 15/5/48, 2V a , 12s Gd (£3 3s 6d); Stock, 15/1/53-57, 3/2, £lO3 17s Gd (£3 3s 9d); Com. Bank, 17s (£3 18s Gd); N.Z. Insurance, £4 Is 6d (t£2 !)s 3d); South British, £3 lis 9d (t£2 Is 9d); Farmers' .Auctioneering (£1 paid), 17s (£4 14s Id); Taupiri, £1 Gs (£4 16s 2d); Dominion Breweries, £1 19s (£4 2s); A.C.1., £2 13s 3d (£2 12s 7d); Roller Mills, £1 Is 9d (£2 15s 2d); McKenzie's Stores, £2 5s (£4 8« lOd); Reid Rubber, £1 7s 6d (2) (£4 is 3d). Wellington.—Stock, 15/6/52-55, 4, £lO5 15s (2); $ Booth, Macdonald. 1/6/47, 5, .£93; N.Z. Insurance, 81s Gd; Trading, 225; McKenzies Stores. 45s (2); §M.K. Manufacturers, 7s; §Wilsons Cement, 19s 3d; SWoolworths (Syd.), 16s 7d. Christchurch.—Stock, 31/5754-58, 4, £107; Com. Bank. 16s lid; Guarantee Corporation, 3s sd; Timaru Woollen, 20s; Alloy St-eel (X.Z.), 40s; Canterbury Roller Flour. 14s 6d; Woolworths (X.Z ), 15s 4d. Dunedin. —Westport Coal, 255. tßased on interim dividend at rate per annum. SSales after hours on Wednesday. MINING NEWS ■ SYLVIA DEVELOPMENT <O.C.) THAMES, Thursday While driving the crosscut from the No. 6 level of the Sylvia claim at Thames a small leader was intersected with disclosed quartz heavily impregnated with zinc blend and galena, with strong colours and dabs of gold. Assays taken of the quartz returned 18.30z. of gold and 5.50z. of silver to the ton. Another important development occurred in the same crosscut when a quantity of molybdenite was discovered in the country rock close to the leader. It is the intention of the directors to continue the crosscut for a farther 40 feet, when it is anticipated that the main load will be cut.

DREDGING YIELD ' Slab Hut ("West Coast). —Fortnight ended July 3, 450z., 11,500 yards, 83 hours. Work" is being interrupted by floods. TAX LIABILITY The' Stock Exchange Association of New Zealand has obtained a more comprehensive list than was previously available of oversea! companies deemed by the Income Tax De- . partment to be "trading in New Zealand" and subject to social security taxation. The , latest list includes: —Australian Consolidated Industries, Australian Iron and Steel, Dunlop Rubber and Electrolytic Zinc. Shareholders in these companies are not required to declare dividends received on their social security forms. » BANK ADVANCES - Advances made by the trading banks of the Dominion as at the last Monday in March are classified in the statistical sum-.* mary of the Reserve Bank as follows: Farmers, £ 17,01 (i.OOO; industries allied to primary production, including dairy factories,freezing works and woollen mills. £5,372.000; * other manufacturing and productive industries, £4,21.7,000; wholesale merchants, £2,997,000; retailers. £2,02-1.000; transport, £376,000; all others, £9,507,000. A table of compari- .* sons shows the total advances in recent years " to have been: —1037, £46,153.000; 1935, .. • £55,064,000; 1939. £54,748,000s 1940, £47,955,000; 1941, £53,433,000; 1942. f 19,51S.000; 3943, £44,810,000. DAIRY AWARDS ~:,' Winners of prizes presented annually by..r the Auckland Farmers' Freezing Company to the managers of dairy factories which secure the highest average grading points over the season have been announced for the period -. ended April 30 as follows:—Butter: P. S. Halligan (Rodney), 94.419 points ; 1; P. 3.- . Bowyer (Piopio), 94.155, 2;' A. Watson (Matakana) and D. Richardson (Albertland),. both 91.089, 3. Cheese: J. T. Barr (Cambridge), 03/170, 1: I. Peebles (Bruntwood), 93.099, 2; K. McKenzie (Hauraki Plains), 92.949. 3 KAURI GUM PRODUCTION Production of kauri gum last year wag only two-thirds that of 19-11, and of this the „ greater part was not a first-class states the annual report on the industry. The. demand for gum, however, is still fairly consistent. and if shipping space was obtainable the principal purchasers would be Can-; adian business interests. Approximately 300 tons were used in New Zealand for varnish manufacturing purposes during the year, and 714 tons, of a total value of £56,135. were exported. BRITISH WOOL PURCHASES Tt is rather remarkable that while Am-.' tralia, New Zealand and South. Africa are experiencing assured and excellent returns for _ their clips. Great Britain, the purchaser of the wool, has reduced the activity of her woollen mills to about 50 per cent compared , with pre-war years, reports TYinchcombe. Carson and Company (Sydney). That reduction has been made to permit labour to be used for more essential work, to utilise mill buildings for storage and other purposes, and to save shipping space. A good quantity of the wool bought has been resold to the United States and elsewhere, but the British Government provides the finance to first of all pay for (he wool and has the capital sunk in the unsold stocks.

Buyers g ellers £ s d £ s d Com. Bank Aus. 0 16 11 0 17 1 E., S. and A. Bk. 3 16 0 3 19 6 ' Nat. Bk. N.Z. — 2 10 9 Bank New Zealand ■2 2 0 2 2 3 Ditto (D mort.) 1 11 0 — Union Bank Aus. • — 7 15 0 National Insce. . , 1 2 6 1 4 0 New Zealand Ins. 4 1 0 4 1 6 South British Ins. 3 11 3 3 12 0 Standard lnsce. .. 3 12 0 3 15 0 K.C.A. (£5 paid) 4 14 0 4 18 6 Newton King (pf.) 0 18 3 1 0 0 X.A.F. (B pref.) 0 13 11 0 14 6 Untd. P.B. (Auck.) 1 1 0 —- 't'aupiri Coal lord.) 1 6 0 1 6 3 A uck. Gas (10/-) 0 7 o 0 7 5 Ditto (con.) . . 0 2 9 0 3 3 Devonport Ferry , 1 6 6 0 — .Northern Steam . 6 8 — Leyland O'Brien I 0 3 1 1 y Rotoiti (10/- f.p.) 0 6 0 0 7 6 Bruce Wool (ord.) .1 7 0 1 13 0 Kaiapoi (17/ f.p.) 1 1 8 — 'i'imaru 0 19 6 1 0 8 Carlton Brew. 3 7 0 3 10 0 Doni. Brew, (ord.) 1 19 0 1 19 1 _ N'cw Zealand Brew. 1 17 6 1 18 3 Aus. Com. Indust. 2 12 9 2 13 9 Booth-Mac. (pref.) 0 S 4 0 9 0 ■ British Tobacco . . 2 7 0 2 7 6 Broken Hill Pty. 2 3 10 — Claude Neon (N.Z.) i 2 6 1 3 9 Colonial Susrar . . 55 15 0 56 5 0 Con. Brick 0 g 3 0 S 6 Dental and Medical 0 19 'J t 2 0 Farmers' Trading . 1 1 6 — Grey and Menzies I) 14 .9 — 0 H..M. Arcade (pf.) 0 1H 6 0 18 K.D.V. Boxes .. 0 11 0 0 12 0 Lewis F.ady (pref.) 0 5 0 — Metiers 0 16 3 — 6 M. and C. 'deb.) . 1 2 0 1 2 M.K. Mnfrs. (.5/) — 0 7 3 Xational Pictures . 0 5 0 0 6 6 New Auok^Laundry 0 17 6* 1 0 0 N.Z. Farm. Fert. (.V/ 2 C. pref.) 1 3 9 — 6 N.Z. Forest (ord.) 0 6 0 0 6 Ditto (pref.) . . 0 9 9 0 12 6 North. Roller >ord.) 1 1 3 1 2 ft Radio (1930) 0 15 0 0 16 0 Reid Rubber 1 7 6 1 7 9 Tarar.aki Oil Fields 0 3 6 0 4 8 Union Oil, Soap . . 1 9 0 — 9 Wairakei (.5/- f.p.) 0 4 9 0 5 Wilsons Cement . . 0 19 4 0 19 9 Woolworths (N.Z.) 0 15 2 0 15 6 Ditto (pref.) 1 19 0 — 0 Ditto (Syd.) .. 0 16 7 0 17 Waihi Invests. 0 4 9 0 5 0 Broken Hill South 1 5 6 1 6 3 - Mount Lyell 1 8 9 1 9 3 Mt. Morgan (ord.) 0 9 6 0 10 0 Liberty Loan — 0 15/9/47, 2% .. 97 5 0 98 5 15/9/52-55, 3 . . 9R 0 0 9S 10 0 15/5/48, 2% •• 96 10 0 — 15/5/53-56, 3 . . 97 15 0 98 0 0 Stock— 15/9/57-60, 3Y< . 100 0 0 101 5 0 ] 5/3/53-57, 3y a . 103 10 0 104 5 0 Auck. Gas (perp.) 87 0 0 88 0 0