COMMERCIAL

New Zealand Herald, Volume 81, Issue 25047, 10 November 1944, Page 2

COMMERCIAL

AUCKLAND EXCHANGE INSURANCE SHARES LOWER Recent weakness in insurance shares continued on the Auckland Stock I'.xchange yesterday, both New Zealands and South British registering further declines. In Governnient stocks supplies were restricted and no sales were made, more attention being given to local body and trading debentures. Quotations for Victory Loan «'J per cents were slightly lower. Bank of New Zealand shares were quoted ex dividend, the market closing between 43s 9d and 44s 6cl. Shares of \V. ii. Carpenter showed a gain of 2s since the last local .sale in July.

YESTERDAY'S SALES R ETUn X OX IXVRSTMKXTS In the following list nf yesterday's sales yields allow for exchange and British income tax where necessary, and, in the case of loans, redemption and brokerage: AUCKLAND EXCHANGE

Also: Wool Bonds, 1/2/48, 20s '2d; ditto, 1/2/1!), 10s '2d. Wellington.—Victory Loan, 15/2/55-58, 3, COT. -Christchurch.—Victory Loan, 15/2/55-58, 3. C9(i 17s (id; Wool Bonds, 1/2/49, 10s 2d; Bank X.Z. (ex div.), 445; Union Bank, CS 7s fid; British Tobacco, -18s fid; Broken fTill South (ex div.), 2(is lld (odd lot) Dunedin.—2nd Liberty Loan, 15/5/53-50, 3, COS 15s; Wool Bonds. 1/2/48. 20s 2d; ditto. 1/2/40, 10s 2d; National Bank N.Z., •Vis Od (odd lot), SWestport Coal 20s. Leyland. O'Brien. 24s fid. Unofficial list: Self - ridges (N.Z.), 14s 4' 2 d. A sale of Olazo Daily Times reported on Wednesday at 55s should havp read 525. s.Sales after hours on Wednesday. COLONIAL SUGAR REDUCTION IN DIVIDEND SYDNEY, Nov. 0 The Colonial Sugar Refining Co. is reducing the interim half-yearly dividend to 10s a share (4 per cent). The previous rate was 17/ a share 11/ per cent). The full year's dividend had been maintained at S'/a per cent for the last five years, having been raised from I/? per cent in 1030-40. These announcements are made by the company's directors in their half-yearly report to shareholders. The directors state that fhe figures for the last half-year ended September 30 do not justify the maintenance of the former dividend rate. BRITISH WOOL TRADE A RATIONING CONCESSION (Special Correspondent) (Reed. 7.30 p.m.) BRADFORD, Nov. o New British control measures will further restrict the use of uncontrolled non-wool fibres in British wool textiles. The wool control authorities announce that, as the production of wool cloth is below planned requirements, they cannot allow labour and fuel to be used in processing uncontrolled materials, and the wool rations now granted will he subject to signed undertakings from each firm not to process materials or blends with a low wool content. The aim of this regulation is to ensure that wool machinery is entirely reserved for processing wool materials. The authorities apparently consider that, so long as planned production in wool goods falls short of official requirements, there can be no justification for permitting labour and machinery in the wool industry to handle non-wool fibres The regulation is welcomed by the greater part of the industry here, as it will be by the New Zealand wool industry. The first hint of relaxation in Britain's strict wool rationing regulations comes in official news of a modified procedure in home trade rations commencing in March, 3015. Woollen spinners and manufacturers hitherto received their rations in fixed proportions, wool or waste or shoddy, etc., according to their pre-war usage, but these are now to be given in one total, which firms may take up in any desired proportions of specific materials, subject to certain limits if they choose higher qualities. The new system will not increase the total wool rations or relax directional control of the production of finished goods, but it will give manufacturers limited freedom in their choice of raw materia! within a ration of unchanged total volume, and is a welcome relaxation of the rigid wool rationing procedure which has obtained for five years. The , inference is that the improved wool supply position here permits greater flexibility in rationing. Indications are that labour, rather than the raw material supply, is the limiting factor in British wool textile production. Manufacturers are urged to expand wool goods production by every means, but labour supply difficulties are acute. New Zealand will welcome the news that the British home trade demand continues to be chiefly for utility goods, which call principally for crossbred wool.

CLOSING QUOTATIONS Buyers Sellers i: s d JL' s d Com. Bank ,Aust. . 017 10 018 1 Coin. Bank Sydney 21 lt> 0 E„ S. and A. Bk. 4 4 0 .Nat. Bank N.Z. .. '2 13 0 2 15 0 Bank N.S.W. . . 30 0 0 Bank N.Z. (ex iliv.) 2 3 0 2 1 <> Nat. Insurance . . 14 3 N.Z. Insurance . . 4 6 <> 4 7 3 Sth. British lnsur. 315 0 310 6 Doni. Inv. and Bkg. 13 6 1 4 (i fc'.C.A. paid) . 6 0 0 5 7 0 l>itto (A"-' paid) . llt 6 117 (_) Ditto (B pref.) .15 0 1 5 J Gohlsbrough-Mort . 1.110 11- 0 Newton-King (pref.) 13 0 1 4 0 N.Z. Guarantee . . 0 3 10 0 4 3 N.A. Frills' (B pf.) 0 18 0 t'ukemiro Coal .. 0 18 0 Renown (ord.) .. 010 3 Oil 0 Ditto ipref.) .. 0 2 8 O 2 11_ 'L'aupiri (ord.) .. 110 6 Auckland (!as .. 0 7 7 0 7 .1 Ditto (con.) .. 0 3 0 <• 3 2 Devonport Ferry .. 1110 1 12 0 Howard Smith .. 1 5 0 1 •"> 0 Northern Steam. . 010 5 0 110 Ditto (con.) .. 0 2 0 0 3 0 Kauri Timber . . 17 0 18 3 Leyland-O'Brien .. 1 '1 0 Taupo Toiara (ord.) 0 8 3 0 8 0 Bruce Wool, (ord.) 1 12 0 Mosgiel Wool .110 0 Wellington Wool. . 0 0 0 Doni. Brew, (ord.) . 2 4 9 2 5 0 limes (ord.) .. 114 0 110 6 N.Z. Breweries . . 22 3 2 3 3 ■Auckland Laundry. 017 6 019 6 Aust. Con. Indus. . 2 18 3 British Tobacco .. 2 9 3 Broken Hill Pty. .2 4 3 2 5 0 | Bycroft 2 9 0 214 0 i Claude Noon (N'.Z.) 19 0 _ ! Colonial Susrar . . 50 10 0 57 5 0 | Consolidated Brick . 010 0 010 9 Farmers' Trading . 10 0 10 3 Fletcher Hold. . . 1 5 11 16 0 Ditto (new) . . 15 3 15 9 Ditto (prrf) .. 16 0 19 6 G. J. Coles . . 3 7 6 3 0 6 Grey and Menzies 016 6 Hill and Plummer 17 0 H.M. Theatre .. 014 6 015 6 Ditto ipref.) .. 017 6 14 0 K.D.Y. Boxes .. 0 11 6 0 12 0 Macduffs (ord.) .. 0 16 0 Ditto iprof.) .. 1 0 9 McKenzies .. 3 3b Murky, Losran .. 111 O 1 13 3 M.K. Manuf's. .. 0 7 6 0 7 11 Morris Hedstrom . . 2 8 6 N.Z. Farmers' Fert. 14 6 15 0 N.Z. For. Pro. lord.) 0 610 0 7 4 North. Roller (ord.) 110 1 2 0 Peters Ice (N.Z.) .14 0 Radio (1936) .. 018 0 _ Reid Rubber .. 1 8 6 1 10 h Sanford (ord.) .. 0 8 3 Ditto ipref.) . . 12 6 14 0 Rplfridjfes (A'sia) .10 0 18 0 Silknit (N.Z.), Ltd. 14 0 „ Vnion Oil. Soap . . 17 0 19 0 Wilsons Cement . . 0 18 3 0 is 6 Woolworths (N.Z.) . 1 010 114 Ditto (Prop.) . . 18 3 1 10 0 Ditlo (Syd.) .. 10 0 110 Woolworths Hides. (South Africa) . 18 0 19 6 Wailli Invests (ex div ) ..0 5 4 0 5 6 Mount I.,veil 1 11 3 1 11 10 Mt. Morgan lord.) 0 7 0 0 7 5 War Loan. 1/10'53 93 15 0 94 5 0 Stock 1 .VH'.Y'-.V) 3 . 97 10 0 98 0 0 15'5/53-56, 3 . . 9S 10 0 15'12/53-56, 3 . 98 5 0 15 1 '6O-63, 3 .. 95 10 0 1.V2/55-SS, 3 .. 96 17 6 97 0 0 15Yi/52-55, 4 .. 105 10 0 106 0 0 Wool Bond, 1/2/49 019 2 019 3 Ditto. 1/2/48 .. 10 2 Waiuku Tn. Bd.. 2'12'02, 4Vi 111 0 0 Booth-Mac.. 1/6'47, 5 99 10 0 100 10 0

Sale Price Rise or Yield £ s d Fail £ <9 d Akld. Har. Bd., 10/9/71, 3V, 09 10 0 — 8 5 (i Waiuku T. Bd„ 9 2/1 •2/02, -I'A 110 10 0 — 3 10 ..Auckland Gas (p. db.), 3Va 87 10 0 — 3 19 0 Com. Bank . 0 17 11 +ld 3 34 o X.Z. Tnsur. . 4 7 0 -Is 2 17 5 Sth. British 3 15 6 -3d 2 13 0 Renown Col. (pref.) . . 0 2 0 — 6 7 3 8 Leylarid-O'B. 1 4 6 — 4 1 Dom. Brew. (2) 2 0 — 4 0 0 Col. Suarar . 57 0 0 — 2 16 2 Fletcher. ITldsr. V (2) ■ 1 C 0 — 4 12 4 (r. J. Coles 15 0 0 — 2 17 11 W. R. Carpenter 2 5 0 +2s o 1 fi