COMMERCIAL

New Zealand Herald, Volume 81, Issue 25030, 21 October 1944, Page 5

COMMERCIAL

AUCKLAND EXCHANGE N.Z. INSURANCE LOWER Bidding was steady and turnover moderate on the Auckland Stock Exchange yesterday. Buyers were not so keen as earlier in the week, and prices generally showed an easier trend. New Zealand Insurance which had been steady at 89s during the past fortnight, sold at a drop of (id. Farmers' Trading made a partial recovery and in the unofficial section improvement was shown by Selt'ridges (.N.Z.) and Whakatano Paper Mills preferences. Monday, Labour Day, will be observed as a holiday by the Exchange. CLOSING QUOTATIONS Buyers Sellers a , * . ,' ■, £sd £ e d Hank Australasia . Cora. Bank Aust. . 017 9 OIS 2 torn. Bank Sydney o<i 5 o Nat. Bank kz.\ - 215 3 Nat. Bk.Asia (pel.) 12 5 0 Bank .\.S,.W. .. 35 5 0 35 15 0 Bank S./,. .. 2 4 6 2 5 0 Union Bank Aust. 8 6 0 -National Inure. . . 14 5 X.Z. Insurance .. •Silt. British Insce. 3 16 0 3 17 3 Dom. I. and B. .13 0 14 6 P.C.A. (A-5 pil.) . 419 0 5 7 0 Ditto (£2 paid) 114 o lis 0 Goldsbrough-Mort . 111 0 112 0 Newton King (C. pf.) 13 0 14 0 N.Z. Guarantee .. 0 3 9 0 4 2 N-A-F. IB pre/.) . 0 18 6 Trad. Fin. (con.) .068 072 Pukemiro Coal .. 018 6 Renown (ord.) .. 0 10 3 Ditto (prof.) .. 0 2 9 0 3 2 Taupiri (ord.) .. 18 0 111 0 Auckland Gas .. 0 7 8 0 8 0 Ditto (con.) ~ 0 3 2 Howard Smith .. 15 0 15 9 Northern Steam .. 0 10 3 0 10 9 Ditto (con.) .. 0 210 0 3 0 Kauri Timber .. 17 6 18 0 Leyland-O'Brien 'l4 0 15 0 National .. 0 8 0 0 8 9 Parker Lamb .. 0 3 6 0 4 9 Rotoiti .. o 8 9 0 9 6 ratino Totara (ord.) 0 8 3 0 9 0 Ditto (C.P.. f.p.) Kelt and Textiles . 215 0 210 6 Oamarii . : 17 6 19 6 Bailing Breweries . 0 17 0 Dom. Brew, (ord.; . 2 4 6 2 5 6 X.Z. Breweries .. 22 0 2 3 0 Auck. Laundry .. 0 19 0 A.C.I . . 2 17 6 British Tobacco .. 2 S 6 2 9 3 Broken Hill I'ty. . 2 5 3 2 5 6 Bycroft .. 2 10 o 2 15 o Colonial Suirar .. 50 17 6 57 0 0 Con. Brick . . 0 10 1 0 10 7 Dental and .Medical 12 6 Dunlop Rubber . . 14 6 Farmers' Trailing: .16 1 16 6 Fletcher Hold. .. 15 3 1 510 Ditto (new) .. 15 0 15 6 Caro's Stores .. 14 0 15 6 Ditto (prof.) ..14 0 G. J. Coles .. 3 8 0 3 9 3 Henry Jones .. 2 11 0 2 14 9 H.M. Theatre .. 0 14 6 0 15 6 K.D.V. Boxes .. 0 11 0 0 11 4 Macduffs (ord.) . . Ditto (Q. pref.) McKenzies .. Macky Lojjan . . 1 10 0 1 15 0 M. and C. (deb.) .17 0 19 0 M'.K Manufacturers 0 7 3 0 7 10 Morris Hedsfrom . Moris Dock X.Z. Fertilizer . . 14 6 15 0 X.Z. For. Prod, (ord.) 0 6 9 0 7 3 X.Z. Newspapers • 2 13 22 0 X.Z. RefrtK. did.) .18 0 X.R. Millmu (ord.) 110 12 0 Peters Ice (N.Z.) .13 6 Radio (1936) . . 0 19 0 Reid Rubber . . 18 3 18 9 San ford (ord.) . . 0 8 0 0 8 6 Ditto (pref.) . . 1 2 6 14 0 Silknit (X.Z.). Ltd. 14 6 Whittome-Stevenson 14 6 15 9 Wilsons Cement .. 0 IS O 018 9 Wool worths (X.Z.) 1 011 Ditto (Syd.) 10 8 112 W'ths Hides. (S.A.) Waihi Invests. .. 056 059 Bnlolo • • 417 6 5 5 0 Mount Lyell . . 111 3 HI 0 Mt. Morean (ord.) .076 079 Stock—--15'6/47-49. 2% . 97 2 6 1/8/51-54 3 . 98 0 0 98 5 0 15/4/60-83, 3 • 95 12 6 96 0 0 Wool Bonds. 1/2/48 10 1 10 3 Ditto. 1/2/49 0 19 0 019 4 YESTERDAY'S SALES

RETURN <>N 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:— AUCKLAND EXCHANGE Sale Price Rise or Yield £ s d Fall £ s d Ist Liberty Ln., 15/9/52-55,3 97 10 0 8 5 0 Stk., 15/4/4951. 2% . 95 0 0 Ditto, 15/9/5760 3% . . 100 0 0 Ditto, 15/1/5659, 3% .. 100 12 6 Bank N.Z. 2 4 9 N.Z. Insce. 4 8 6 —fid 216 0 North. Steam (con.) 0 2 30 Col. Sugar 57 0 0 Farmers' Trad. 10 3 +6d 3 16 2 Frozen Products 0 17 0 1.C.1, (pref.) 1 7 3 -3d 3 13 5 Waihi Invest. 0 5 6 1 11 5 Unofficial List.—Selfridges (N.Z.), 13s; Whakatane Paper (pref.), Liss 9d. Wellington.—Bank N.Z.. 41s 9d (2); Ballins Breweries, 17s 9d; N.Z, Breweries, 12s 3d. Unofficial list: Selfridges (N.Z.), 16s 9d. Christchurch.—Wool Bonds, 1/2/49 (odd lot), 19s 2d; Westport-Stockton, Is 6d (2); West port Coal, 275; N.Z. Breweries. 42s 3d (2); Colonial Sugar, £57 (2); Woolworths (N.Z.), 21s; Kanieri, 265. Unofficial list: Selfridsres (N.Z.), con., 13s.

INVESTMENT TREND

BUSY TIME FOR BROKERS The week has been a busy period for sharebrokers, the turnover being well above the average of recent months, in spite of quieter conditions on the Inst two days. Sales covered a wide range and included a number of shares that are rarely traded on the Auckland Exchange. Values were fairly steady and there were some partial recoveries from the lower levels recently established. Government stocks had a free inquiry, although buyers were able to keep prices at the level of recent weeks, thus scuring more favourable terms in the shape of additional-accrued interest. A year ago buyers of war loan scrip had to pay prices which gave them an effective yield on outlay of from £3 2a 'id to £3 3s fid per cent; today the yield averages £3 ss. Similar differences are apparent in the older issues of Government stock. Including the Victory Loan just floated a total exceeding £135,000,000 has been raised by way of loan within New Zealand since the war started. Comparisons of Government issues, with those ruling on Octobor 13, and a year ago. are as follows: Year Last This Ago Week Week ££ ' £ Stk., 15/1/53-57, 3'/, *10274 102 V. 102% Do., .15/4/46-41), 4 *102% 102% §loo'/ Do., 15/(3/52-55, 4 106% 105% 105% W.L.. 1/10/53, 2/3 .. 93% 93% 03% L.L., 15/9/47, 2% .. *97 *9B *9B Do., 15/5/48, 2% .. 98 98 98% Do., 15/9/42-55, 3.. 98 197% 97% Do., 15/5/53-56, 3 . 9834 98% 98%

•Buyers. :Sellcrs. §Last sale cum interestBank shares are invariably favoured by local inventors and this popularity has been accentuated in recent weeks. During the latest period business covered most of the banks, with values gencraly steady. New Zealands had heavy trading, but a gain of 2d early in the week was lost later. Insurances were comparatively quiet and even the impressive figures in the annual accounts of the South British company failed to induce customary activity. South British shares were steady at 775, ex dividend, while New Zealands at 88s fid showed a decline of (id. Miscellaneous Dominion securities were in srood demand, hut industrials dependent upon the supply of coal for continuous operation seemed weaker. Wilsons Cement and Bycrofts had lower quotations and Auckland (las had an easier trend Woollen shares were quiet, but there was considerable interest in the timber section. Stock and station agencies were well supported and brewery shares were active. In the Australian section Colonial Suears and G. J. Coles improved. Broken Hill Proprietary and Australian Consolidated Industries were steady. 1943 Last This High Low Week Week Bank of N.Z... 43/- 40/fl 44/10 44/9 Com. Bk. Alls. 17/7 1.5/9 18/2 18/Nat, Bk. N.Z. 54/0 48/6 55/- 55/3t Bank N.5.W... 085/- f!0()/- 700/.• 710/Union Bank .. Ist/(i 152/- 107/- 107/0 Nat. In<cc 21/0 21/0 21/O* 21/5* N.Z. Insce. .. !»(»/• 70/0 88/11 88/0 South British.. 7<:/:s 07/9 77/- 77/Anck. Gas . 7'(i 0/0 HI- 7/11 N.Z Brew . :«!'.'! 35/0 42/3 12/3 Dom. Brew .. 40/. 31/0 45/- 45/A.C.I. 50/- 5(1/- 57/9* 58/Bkn. Bill Pty. 15/0 40/9 45/5 45/5 Bvcroft .. 51/9 40/9 54/- 51'Col. Sugar .. 11 (iO/- 1000/- Ul3O/- 1140/Farm. Trad. .. 25/3 21/7 20/- 20/3 C J. Coles .. 61'3 53/0 68/3* 69/Wilsons Cem... m/o 18/- 19/3 18/6 W'wths. (N.Z.) IS/3 14/10 20/9 21/Ditto (Byd.) 10/6 15/8 21/1 21/'Buyers. JScllers. PUKEKOHE STOCK SALE

(0.C.) POKEKOHE. Friday A full yarding of cattle came forward at Pukckohe yesterday for the Loan and Mercantile Co.'s sale The entry of dairy cattle met, a spirited demand and values were higher on last sale's quotations. Beef prices were firm on Westfield rates. There was a strong inquiry for store cattle arid yearlinc Jersey heifers Best dairy heifers made from .(.'lt to £l7. medium, £ll to £l!} 10s; smaller. C 8 10s to £lO IDs; backward, £6 10s to £8 i"5; best dairy cows, £l4 to £2O •*>«, others, £0 to £l3 10s; heavy prime steers. £l4 to £l6 7s fid; .lighter, £ll to £l3 10*; heavy prime cows', £ll to £l2 10s; medium. £9 to £lO 10«; lighter, £7 7s to £8 10s; good conditioned cows, £9 to £0 17s 6d; prime

heifers, £7 to £ll 7s 6d; heavy boners. £S Ss to £6 7s (3d; light and medium boners. £3 to £5; inferior. £] 10s to £•-' 10s; Ka/MK Jersey heifers, £6 to £7 7s «d; smaller. ±.o to £5 355; Jersey slips, £3 Jos to _ £o os, service bulls, 4kiis to 16Kns; vot ! er va Li £3 to £». There was an increased yarding of bacon and store pigs. Fat pig P rl £ es *®, firm, but stores were slightly easier- Bacpners realised £3 14s to £5 Ss; £- e to £3 l'2s; weaners. £llo £1 «s. slip., £1 12s to £2; stores, £2 2s to £2 l-«- Eovve in pig. .sgns to 7gns.

THE CITY MARKETS TOMATOES PLENTIFUL Heavy supplies of cabbages were available at the City Markets yesterday and lettuce and rhubarb sold at low rates. As »•"*"» of a shipment of island tomatoes hothouse tomatoes were reduced in price. Grapcinui and tree tomatoes were keenly sought, incra was a fair demand for poultry, of whuh a medium supply was on hand, and prices remained unchanged. Prices were:— Fruit.—Tomatoes, hothouse, 2s to .is 4d per lb;- Island, 27s (id case; paw paWS. Os to 108 a case; tree tomatoes, new biacK. am to 32s a case; yellow. 'JIs to -'ls Od: wapefruit. New Zealand, fancy, Ws Od; com* mercial, LTs (id; lemons. Meyer, 10s per tiaucase; coconuts, 20s to 25s a sacK. Field Produce. —Asparagus, Ud to is wo a bundle; beet, (.is to lis a dozen; celery, cooking, Is (id to 2s (id a bundle; dessert. .« to 8s a bundle; carrots, -Is to 108 a D.ik. cauliflowers, His to 20s a sack; caDDagcs. •js cd to ss a sack, up to -'- s a cwi; cucumbers, hothouse, 203 to 21s a dozen; green peas, Is to Is lOd a H>; kuniaras, 33s a cwt; leeks, is ad to 2s a bundle: lettuce. lis to 128 (5d a case; onions 2ss to :sis a bag; potatoes, southern, His to 15s (id a e.wtj new. No. 1. 3 J ,id a Hi; No. 2, LVid to 2Vid a lb; pumpkins, choice Triton bio. 30s to 3(is a cwt. par»wp&, 2fcs io His; radish, Is (id to 2s (id a dozen; rhubarb, 3s Od to Ts (id a dozen; spinach, 7s to its a case; spring onions, Is to 2s a bundle; swedes. 4s to 5s a bag; turnips, (is to lis a case: Brussels sprouts 8d to Is id a lb. Poultry.—Cockerels, heavy breeds, prune, 8s to lis each; not prime. 5s each; light breeds, prime, os to 7s; not prime, 3s to 4s; fat hens, heavy breeds, (is (id to 8s (id; light breeds, 3s to 4s Odt pullets, heavy breeds, best, 7s to 10s; smaller. Is; light breeds, best, 5s Gd to Ss; smaller. 4s; drakes, young, prime, 4s to 5s- smaller, 2s; old. 2s to 3s; ducks, old, 2s to 3s; geese. ss; turkey liens. 10s; gobblers, 15s to 20s; day-old clucks, Black Orpington. 3d: Leghorn, id; guinea fowls, 7s (idEggs,—Hen, standard grade, Is By a a a dozen; duck, standard grade. Is 7Vsid a dozen. STOCK FOOD SHORTAGE The shortage of various stock foods was discussed at the monthly meeting of the Auckland provincial executive of the Farmers Union this week. A letter was received from the Minister of Agriculture, Mr Roberts, in reference to the short supplies of Australian stock foods. It was slated that the large purchases of barley and barleymcal arranged for in Australia over a year ago by the Internal Marketing Division for forward delivery had all been delivered with the exception of one largo purchase of barleymcal for which the Australian Government had refused to issue an export licence. The reason given was the acute shortage of stock foods in the Commonwealth, caused mainly by dry weather. An effort would be made to secure licences for this parcel and for other shipments from Australia, hut the position would be governed by the weather there. The question of (he supply Of barley was referred to the Dominion executive for immediate action.

SECURITIES IN LONDON LONDON", Oct. 10 Quotations in London for British and New Zealand stocks compared with recent levels are: — Oct. .5 Oct. 12 Oct. 19 Consols. 2Va p.c. . .C 7!)% £T»Vi £~W"u, Funditiif, 60-00, 4 112'/,, 11-"",„ 112"/,, War Loan, 3'/ 3 . . 104'4 101% 101% British 3' 3 C'ouver. 104 V,. 104 s /„ 101% Victory Bonds .. 112% 112% 112"/,, New Zealand — 1015, 3 . .. 100 1 /, IOOVi 100% 1018-58, 4Va .. 105 105 104 7 ; Government issues are firmer and more active all round. DIVIDENDS DECLARED Oamaru Worsted and Woollen Mills, Ltd. — Final dividend, 3 per cent, making 6 per cent for the year (unchanged): payable November 6; books close October 23. " Bank of Adelaide.—Finn! dividend, 2% per cent, making 5 per cent for the year (unchanged); payable on November 15; books close November 2. TOBACCO PIPE IMPORTS The Customs Department advises that licences granted for the importation of tobacco pipes from the United Kingdom in 1945 may be utilised for the importation of tobacco pipes from Canada or the United States, and transfers will be granted accordingly on request, conditional on imports being confined to -pipes in the less expensive grades.