COMMERCIAL

New Zealand Herald, Volume 81, Issue 25036, 28 October 1944, Page 5

COMMERCIAL

AUCKLAND EXCHANGE AN EASIER MARKET Sellers were more accommodating on fcho Auckland Stock Exchange yesterday and a substantial turnover was . recorded. Although most of the sales were at unchanged rates, there were a few instances in which lower prices were accepted. The insurance section was rather dull and a parcel of New Zealands sold 6d down at 88s. Commercial Banks were easier at 17s 9d, a reduction of 3d Auckland Gas shares were cheaper, a transfer being put through at 7s 10d.

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 rase of loans, redemption and brokerage:— AUCKLAND EXCHANGE Sale Price Eise or Yield £ s d Fall £ s d 3rd Liberty Ln.. 15/6/47-49. 2% , . . 07 5 0 Stk., 15/6/5255. 4 .. 105 12 6 Booth-Macdonald, 1/0/47, 5 00 10 0 Manawatu-Oroua P. Bd., 1/12/57, . 3%. 102 0 0 Newmarket 8.C.. 1/6/50, 4% 105 5 0 Bank N.Z .'2 4 9 Com. Bank (2) 0 17 0 -3d 3 lo 1 Bank N.S.W. 35 10 0 N.Z. Insco. 4 8 0 6d 2 1G 10 N.A. Farmers , _ ri „ (A pref.) . 116 Auckland Gas 0 7 10 -2d 3 16 7 British Tobacco 2 8 9 Broken Hill .253 Con. Brick 0 10 3 Dunlop .. 15 0 Theatre Arcade 0 15 0 • Farmers' Trad. 1 6 4 +ld 3 15 11 Fletcher Hldgs. 1 0 0 Radio (1936) 0 18 6 Wellington.—Bank N.Z., 4 Ifi Od (2); IS.Z. Insurance, 88s Od; National Mortgage (A), 70s; Woolworths (Sydney). 21s (2). Ghristchurch, —National Mortgage '"/• 70s; N.Z Breweries. 42s Od; Wcstport-Stock-ton, Is Od (2); Gillespie"? Beach. 2d; Snowy River, ex div.. 6s Od (2). Ounedin. —N.Z. Refrigerating (con.), 13s 10d$ Waitaki Farmers, 30s; Bruce Woollen, 32s Gd. » INVESTMENT TREND GOVERNMENT STOCKS FIRMER The Stock Exchange opened rather quietly on Tuesday, but later investors appeared to settle down to solid business and a satisfactory volume was maintained, with sales overing a particularly wide range. A feature of the trading was a firmer trend in Government issues. Sellers were less numerous and if appeared that the bearish influence of the Victory Loan campaign had been dissipated. So far values have shown little improvement, but in ono or two instances buyers have raised their limits for Liberty Loan 3 per cents. Offerings of local body and trading debentures were freer than for some time and transfers were promptly effected. In the case of local bodv issues the return to purchasers on their outlay was slightly under 3% per cent. Comparisons of Goyernment issues, with those ruling on October 20 and a year ago. are as follows: — Year Last I his Ago ' Week Week C jC .£ Stock, 15/1/53-57, 3% *102*4 102% 102'/, Do.. 15/4/40-10, 4 *102% 100% 100'/, Do.. 15/0/52-55. 4 107 105% 10..% W.L.. 1/10/53, 2% 91 93% *93% TT 15/9/47 2% *97% *9B *9B "Do.. 15/5/48, 2% 98 98% 08% Do 15/9/52-55. 3 99 9i% Do.! 15/5/53-56, 3 95% 98% *OB% •Buyers. Bank shares were active, but values were somewhat irregular. New Zealands were steady at l is 9d and New South Wales, after sales at £35 10s (unchanged), seemed slightly firmer at the week's close. Commercials continued the previous week's easing trend and sales at 17s Od yesterday marked the lowest level since early in February. Insurances were again comparatively dull, and while Nationals showed a slight improvement New Zealand? dropped another Gd. For miscellaneous Dominion shares there was a good demand and. with some exceptions. recent values were maintained. Buyers came back for McKenzies and Macky, Logans without business resulting and a slurht improvement was shown by Banners Trading. Woolworths (New Zealand) were off the mar Ket at yesterday's calls: an unusual happen incr Consolidated Bricks and Fletcher Holdings were active at late rates Shares associated with the primary industries were well supported. There was a good demand for Australian leaders and further gains were, made by Colonial Sugars, which rose 15s in the week. G. J. Coles were easier. 1943 Last This High Low Week Week Bank of N.Z. 43/- 40/6 44/9 44/9 Com. Bk. Aus. 17 7 » 9 18/- 17/9 Nat. Bank N.Z. 64/6 48/0 50/8t 55/4 Bank N.S.W. - 685 - 000 - 710 - 710 - TTnion Bank .. 154/6 152/- 16;/'; I";/Nat. Tnscc. .. 24/0 01/0 -4/5 -1/8 N.Z Tnsce. .. 00/- /■■.' 0 88/0 BS/Sth British .. 7(i/3 OJ/9 l>{- <('; \ nek Gas .. 7/6 0/0 </H '/'° N Z Brew. . . 30/3 35/0 42/3 42/0 Dom. Brew. .. 40/- 31/6 45/- 40/ACT ■ •• r >'>l- m, ~ F,a " 11,.1 Bkn. Hill Pty. 45/0 40/0 45 5 8 ■Rvcroft • • 51/0 49/9 51/* L. . Col Susar . . 1100/- 10G0/- 1140'-1140/-! Farm Trad. . . 25/3 21/7 26/3 20/4 Wils T o'ns C Ce S m 'l9/8 18/- 18/6 18/ H Ditto %y'A 10/6 2V- 20/10 •Buyers. tSellers. SLast sale cum dividend.

£lO Qs 6d to £ll 63; medium. £9 to £9 15s; prime Jersey cows and heifers, £v iw to £9; heavy boner cows, £5 10s to f £6 108: light and medium, £2 10s to £4 10s; bes yearling and two-year-old Jersey iietfers. £7 10s to £8 10s; medium. £4 10s to £6. ser vice bulls. lOgns to lOarns; potter bulls, so to £s. There was a good yarding oi tia ry cattle, bidding being steady for choice quality heifers, close to profit. Values renwined firm, but those for cows were easier. One rL 2)Siereu pedigree Jersey heifer made ISgnsj choice heifers, close to profit, £l3 to £ls ss; good, £ll to £l2 10s; others. £7 10s to £lO, good dairy cows, £lO to £l2 15s; others. £8 to £9 10s; aged backward and inferior, £ J to £6. Competition for a good entry or rat sheep was keen, a total clearance effected at recent rates. Heavy fat woolly wethers realised £1 16s Gd to £1 18 s heavy fat woolly hoggets. £1 15s 6 J?. t0 _ n *;,■ 18s; medium, £1 7s 6d io £1 lis 6d, good fat shorn wethers, to £1 9s; shorn hoggets, to £1 8s; shorn ewes. 16s to 10s; n }\* ct J* f J K .f,, ewes with lambs at foot, 17s 6d to 18s Jd all counted; aged ewes with lambs at foo'.lo to 10s Od all counted. The heavy yarding or fat pigs sold at current rates, ktore pigs were penned in average numbers, blading being spirited and values advanced s'lnrpl.V. Medium-weight choppers sold from £'- '; ,s '° A'l His; prime baconers, £1 Os to <-•' p s j buttermilk pigs, to AM-3s; heavy porkers and feeders. £ll I.os to £1; stores. £H hs to A.J Ms; slips, £2 His lo .c:5; best weaners, to £2 8s; others, los to £1 1 r»s; boars to Ogns; in-pig maiden sows to £6 los ana a sow and litter of eight, £B. THE CITY MARKETS MANY VEGETABLES CHEAPER Vegetables were in abundance at the City Markets yesterday and many lines showed a marked decline in price. Asparagus, beet, canbuges, cucumbers, green peas, lettuce.. Southern potatoes, parsnips, radish, rhubarb, spinacn and turnips were all lower in value than at Tuesday's sales Increased quantities of new potatoes were offered A wider varietv ot fruit included local sweet oranges, banana passion fruit ami gooseberries. Grapefruit was scarce and dear. Prices were:— Fruit.—Tomatoes, hothouse. Is lOrt to 2s lOd per lb; oranges, local, sweet, 14s Od a half-case; tree tomatoes, now black, .25s to 32s a case; yellow, 20s to 24s Od; grapefruit, New Zealand, fancv. 22s £id; commercial, 17s Cd; banana passionfruit, 18s to 2_s a half-bushel case; strawborrics. Captain extra choice, 4s to 6s (Jd a chip; jam, Is Od to 2s; gooseberries, Is Gd to is Od per lb; loquats, 15s to 20s a case. Field Produce. —Asparagus, 8d to Is Gd a bundle; beet. 7s to 14s Gd a case; carrots. 3<is a cwt; cauliflowers, 10s to 21s a sack, cabbages, Is Od to 7s, up to 2,s a m; fucuiimers, hothouse, '2os lo 2.>s a do/en, green peas, Sd to Is 2d per lb; kunmras. I :i:is a cwt; leeks, is lo -J* a bundle; lettuie. Is Oil io 13s a case; onions, _'ss to .lis a cwt; potnloes, Southern, 12s Gd to I.is Oil, new. No. 1, ;i' 4 d per lb; No. 2, 3s to fcs a bag; pumpkins, ,'ios to 30s a cwt; parsnip*, s to 325; radish. Os to I(l5;» do/.en; rhubarb, 3« to 7s (id; spinach, .»s Gd to bs id a case; spring onions, Is to '2s a bundle; swedes, 4s to os Gd a bag; turnips. 3s to 5s Gd a case. , , . _.i mo Poultry.—Cockerels, heavy breeds, urn c. 8s to 10s each; not prime, os; light breeds, prime, 5s to 7s; not prime 2s fld I to 3s, fat hens, heavy breeds. 8s io Bs .°f. IW II breeds, 3s to 4s; drakes young, prime, 3s Gd to 4s Gd; smaller, 2s; old. Is to is Gd, ducks, voung 2s Od to 4s; old, is to Is Gd, geese, ss; turkey hens, 10s; gobblers, 15s; day-old chicks. Black Orpington. 3d; L«ghorn, ld. Eggs.—Hen, standard grade. Is SAd a dozen; duck, Is 7'/ 3 d. MINING NEWS MARTHA CRUSHING RETURN (0.c.) WAIHI, Friday The following information has been cabled to the London office of the Martha Gold Mining Co. (Waihi), Ltd.—For the period ended October 14 the mine was operated on 20 days and crushed 13,177 tons of ore for a result of 3538 fine ounces of gold and 31,880 fine ounces of silver. BROKEN HILL SOUTH The accounts of Broken Hill South, Mil. (Melbourne), for the year ended .Tune 30 show a net profit of £254,132, compared with £231,795 last year and £247.392 ill l-"--The mining section gave ft' net return ot £157,008, an advance ot £23,806, attributable to further increases in average prices re""'®' l for lead and zinc. Net profit of the investment section was £152!) lower at £97,124. The total profit is reached after allowing £221,000 for taxation, an increase of £68,000, £19,000 for royalty, an increase of A/00<>, and £33.000 for depreciation (unchanged). The dividend for the year is unchanged at 30 per cent, requiring £240,000. D.I.C. ACCOUNTS (0.C.) DUNEDIN. Friday The accounts of tho Drapery and General j Importing Co. for the year ended August 21 j show a net profit of £35,635, compared with £36.593 last year and £39,327 in 1942. With £44.954 brought forward, there is £50,589 available, which the directors propose to allocate as follows: —A dividend of 5 per cent on preference shares for the second half-year, 1 £6250; a dividend of 7 per cent on ordinary shares (unchanged), £17,020; an addition of £5901 to reserve, increasing it to £99.000; ) contribution to patriotic and similar funds, £1000; leaving £50,415 to be carried forward. } ) MOUNT MORGAN OUTPUT Production at No. 1 mill, on which' the % company was now virtually dependent, was being stenped-up to 40,000 tons each four r, weeks, said the chairman of Mount Morgan, Ltd. (Queensland), Mr E. J. Morgan, at the annual meeting. The grade of ore expected - for the current year was 2.osdwt gold and .87 i per cent copper. Combined assays for the past year were l.Sldwt gold and .46 per , cent copper, against l.OSdwt gold and .59 7 per cent copper for 1943. Because of man- , power difficulties, only 287,800 tons of ore i from No. 5 bench was treated. If the 400,000 \ tons called for had been treated, a profit would 1 have probably been made. Ore reserves were □ now estimated at 6,054,563 tons, averaging , 4.23dwt gold and 1.86 per cent copper, a much 2 higher grade than tho ore being mined today. I I, SECURITIES IN LONDON LONDON, Oct. 26 Quotations in London for British and New Zealand stocks compared with recent levels are:— , Oct 12 Oct, 19 Oct. 26 ' Consols, 2Va pc. . £79% J79 B / le £79% " Funding, 60-90, 4 112"/,, Il2>y t0 112% War Loan, 3% .. 101% 104% 103% British 3% Conver. 101 8 /,* 104% 104%, Victory Bonds .. 112% 112 15 /,, 113 New Zealand — 1915, 3 . . . 100% 100% 100% 1948-58. 4% .. 105 101% 105'/, 6 Government issues are quietly steady, y ; DIVIDEND DECLARED f Byeroft. Limited.—lnterim dividend, 4 per i- cent (unchanged); payable November .17; [1 books close November S. , i

CLOSING QUOTATIONS Buyers Sellers Bank Australasia . £ 8 d .t S (1 9 (j (i Com. Bank A us. 0 17 8 0 17 11 Nat. Bank N.Z. o 15 0 Bank N.S.VV. 35 5 0 30 0 0 Bank New Zealand 2 4 8 2 4 10 Union Bank Aus. 8 7 0 National Inscc. .. 1 4 0 1 4 10 New Zealand lnsee. 4 7 0 6 4 8 0 Queensland Insco, . 3 8 Sth. British lnsce. 8 10 0 S 17 3 Standard lnsce .. 3 19 3 G Dom. I. und B. . 1 0 1 4 3 F.C.A. (£5 paid) 4 10 0 5 7 0 Ditto (£'2 paid) 1 14 G 1 18 0 Goldsbrough Mort . 1 11 0 1 12 0 Newton Ring (pf.) 1 3 0 1 3 0 N.Z. Guar (f.p.) 0 3 9 U •t 3 Loan and Merc. 75 0 0 •N.AF (A prcf.) 1 1 4 1 1 0 Ditto (B prcf.) — 0 18 3 Traders' Fin. (con.) 0 0 8 0 7 >_> Nat. Mortgage (A) 3 8 0 3 12 0 Renown Coal (ord.) 0 10 0 0 11 0 Ditto (pref.) 0 2 9 0 3 2 Taupiri (ord.) Auck Gas (f.p.) 1 8 0 1 10 6 0 7 9 0 7 10 Ditto (coil.) 0 3 3 0 3 0 Northern Steam .. 0 10 3 0 10 9 Ditto (con.) 0 2 9 0 3 0 P. and 0. (def.) 2 7 0 o 12 6 Leyland-O'B. Timb. 1 4 3 1 4 6 National 0 8 0 0 8 9 Parker, Lamb 0 3 9 0 4 8 Rotoiti (f.p.) Tanpo Totura (ord.) 0 8 0 0 96 8 3 0 . 9 3 Oamaru 7 0 1 9 0 Tiniaru — 1 0 3 Dom. Brew (urd.) 1 0 •J 5 !) limes (ord.) II II 1 Hi ii New Zealand Brew :i •j !) Auck Laundry 17 (1 u 19 ;( Aus. ton 1 ml list. 17 (i — British Tobacco . . 8 ;i 2 9 :s Broken 11 ill Pty. 5 0 5 0 Burns. Philp li u — Bycroft 10 0 2 15 0 Claude Neon (N.Z.) 8 (i — Ditto (Indust.) . 5 0 — 0 Col. Sugar (ex dlv.) 50 15 0 57 5 Con. Brick (J 10 1 0 10 0 Dominion Fert. .. — 1 7 0 Donaghy's Rope . Farmers' Trading . — 3 8 0 1 G 3 1 6 4 Fletcher Hold. .. 1 5 9 1 0 3 Ditto (new) 1 5 6 1 5 8 Caro's Stores 1 4 0 1 5 G Ditto (pref.) .. 1 4 0 0 0 Gear Meat (f.p.) — 1 G. ,T. Coles — 3 8 0 Henry Jones Co-op. 2 12 0 o 14 9 0 K.D.V. Boxes (f.p.) 0 11 3 6 12 McKendriek (pf.) . 1 4 0 i 0 0 McKenzies 3 o 0 3 4 0 Macky, Logan M. and C. (deb.) 1 10 0 1 14 0 1 7 0 1 8 G M.R Mnfrs. (f.p.) 0 7 0 0 7 10 N.Z. Farm. Fert. 1 4 0 1 5 0 N.Z. Forest (ord.) 0 6 11. 0 7 3 0 Ditto (pref.) •. 0 10 0 0 12 N.Z. Paper Mills 2 0 6 — North. Roller (ord.) 1 1 0 — Peters Ice (N.Z.) . 1 3 0 0 — 0 Radio (1030) — 0 19 Reid Rubber 1 9 1 10 0 Ditto (con.) 0 10 0 0 — 9 0 Sanford (ord.) 0 8 0 8 Ditto (pref.) .. Silknit <N Z.), Ltd. 1 o 0 1 4 1 4 9 0 1 0 (i 0 0 Whit tome-Stevenson 1 4 1 5 Wilsons Cement . 0 18 o 0 19 Wnolworths Props. 1 8 0 1 9 0 0 9 11 0 9 8 8' Ditto (Syd.) 1 0 9 1 1 6 W. R. Cooko Wths. Hldg. (S.Af.) Waihi Invests — 0 0 — 0 9 5 0 5 Emperor 0 14 0 0 14 11 Mount Lyeil 1 11 0 1 0 Mt. Morgan (ord.) 0 7 3 7 Stock — 15/0/47-49. 2% . 15/12/53-50, 3 . . 97 98 0 7 0 6 97 98 10 15 0 0 0 0 15/0/52-55, 4 .. 105 10 0 100 0 0 •Auck. Gas (perp.) 87 5 0 88