COMMERCIAL

New Zealand Herald, Volume 81, Issue 25082, 21 December 1944, Page 2

COMMERCIAL

AUCKLAND EXCHANGE SOUTH BRITISH AT 77/6 The influence of approaching holidays was apparent on the Auckland Stock Exchange yesterday in a quieter tone and a reduced number of quotations. Values showed few alterations. Insurances continued firm, and South British had sales 6d up at 77s 6d. The banking section was quiet, and Government issues were steady. There was a strong demand in the Wool worth group, and buyers for New Zealands moved up to 21s sd, with no response from holders.

YESTERDAY'S SALES RETURN ON INVESTMENTS In the following list of yesterday's sales vielda allow for exchange and British income tax where necessary and. In the case of loans, redemption and brokerage: AUCKLAND EXCHANGE Sale Price Eiseor Yield £ 6 d Fall £ 6 d 2nd L.L., 15/5/ . „ 53-56. 3 . 97 15 O +2/6 3 4 3 3rd do., 15/6/ , „ 47-49. 2Va . 96 5 0 Do., 15/121 „ n a n 53-56, 3 97 10 0 Stk., 15/4/60- r o "63. 3 .. 96 10 0 Nat. Insce. . 1 4 3 Stb. British (2) 31/ 6 +6d io 7 Dom. Invest. . 1 3 9 4 g Col. Sugar • 56 10 0 +- j F1 Also er Sto!k, 15/4/46-19, 4, £101; Mt. Morgan, 6s 7d. Unofficial list: British Standard Ce WelHngton.—'Victory Loan, 15/2/55-58, 3, £O7 15s: 53rd Liberty Loan, 3, ,£97 10s; ditto, £97 10s; National 24s 3d (2); §N.Z. Breweries, 43 »- Tul Brewery, 365; Farmers Trading 2os lid. Christchurch,— Victory Loan,ls 3, £97 108; 2nd Liberty Loan J. rn? 100 fj(j (2); §W&T Loan, l/ 10/50, ~/2» £94 ss; stock, 15/4/60-63, 3. £96 l-2s 6d; Bank N.Z., 45s 6d; Fletcher HoW ngs 2oS 6d (2); Wilcox Moffhn. rights, 4d (4), blao Dunedin. —National Savings Bonds. J u 'y. 19IS 19s 6d; Bank N.Z., 455; Union Steam (pref'.), 31s 6d (3); Fletcher Holdings, 2os 6d. tßased on interim dividend at rate per annum. ISales after hours on Tuesday.

WOOL FOR BRITAIN IMPORTS DURING WAR (Special Correspondent) BRADFORD, Dec. 19 Figures of Britain's wartime wool imports bow available for tho first time are illuininating. Compared with the pre-war average of an annual importation of 609,000,0001b, the figures show 1939 imports of 700,000.000 b. wnile the 19-10 total reached 1,005,000,0001b. almost certainly a new high record in Britain s wool history. Since then annual imports feu to 412,000,0001b in 1912. and 260,000.0001b in 1943. The latter figure is less than half Britain's average pre-war importation, but over the whole war period Britain s wool imports are shown to be around 80 per cent of the pre-war average for the country, mw Zealand wool has been always well represented in these annual importations owing to its special suitability for various war purposes. It is impossible to draw a specific inference from these figures, as the wartime incidence of imports may vary for a number of reasons unconnected with the trade. Heavy arrivals early in the war, however, reveal the building up of supplies for a prodigious war production of cloth and clothing for the forces and civil defence services. They also recall the statement of the Wool Controller, Sir Harry Shackleton, that there have been occasions since 1939 when Britain's consumption of wool reached high levels never before attained. Many thousand fewer workpeople in the mills inevitably imply a temporary declino in Britain's wool consumption, but the wool industry hero believes that when post-war expansion of the demand makes itself felt there will be need for immediato and considerably increased wool imports. „ , Of particular interest to Iscw Zealand is official publication of the news that since 1939 the sheep and lamb population of the United Kingdom has declined from approximately 27,000,000 to 20,000,000, officially attributed to the reduction in imports of animal feeding stuffs and tho diversion of cereals to human consumption. Although it may be expected that efforts to restore this figure will be made at the earliest possible moment after the war. the present position is that—as British wool is predominantly crossbred—any demand to make good a redaction in the supply of British wool would bo expected to benefit New Zealand woel.

MINING YIELDS Rimu (West Coast). —Period November 28December 12, 2550z, 38,089yd5, 122 hours. PAY FOR HOLIDAYS TIMBER WORKERS' POSITION (0.C.) ROTORUA, Wednesday There appeared to bo some uncertainty regarding payment lor annual holidays and statutory holidays, as provided for in the Annual Holidays Act and the Factories Act. IU2I-22, stated JSlr W. Seator, national president of the New Zealand Timber Workers' Union, today. Certain sections of the timber workers, such as bushmen and others not actually engaged in the mills, were not covered by the Factories Act, but they were brought within the Act as far as holidays were concerned by a section of their award. All workers in the industry, theretore, were entitled to the eight statutory holidays, provided they were at any time employed during the fortnight prior to any of those days. Payment for those holidays was governed by section 14 of the Factories Amendment Act. 1936, which provides that payment shall be made at the first regular pay day thereafter. It was plain, t continued Mr Seator, that the intention of the Legislature was that the ten days provided in the Holidays Act were to be paid for prior to the holidays being taken, but this had not been clearly written into the Act. It was hoped that all employers would pay for the full holidays before the close-down period, in order to allow workers and their families to enjoy their vacation away from their usual place of work. The majority of employers appeared to be doing this. The union had taken tip the matter with the Minister of Labour, Mr Webb, and, it was hoped the law would be clarified. I

CLOSING QUOTATIONS Buyers Sellers £ s d £ s d Com. Bank A ust. 0 17 6 0 17 8 Com. Bank Sydney 20 0 0 o — 0 Nat. Bank N.Z. . . — 13 Bank N.S.W. — 31 JO 0 Bank Neiv Zealand 2 o 0 2 0 3 Union Bank Aust. 8 4 0 — 9 National Ins. 1 4 o 1 4 New Zealand Ins. 4 8 0 4 9 3 Queensland ins. . . 3 8 6 — 0 South British Ins. 3 17 3 3 18 Don). Invest. 1 3 4 1 4 3 0 Far. Auc. (Jt'5 pd.) 5 0 0 5 5 11. Goldsbrough - Mort — <5 1 9 Newton King: (pi.) 1 2 1 3 0 N.A. Far. (f.p.).. 0 3 0 0 3 17 0 Ditto (B pref.) 0 16 0 0 9 Traders' Fin. (con.) 0 0 3 0 <> 4 Wright-Steph. (ord.) ■— 3 1 7 6 Renown Coal (ord.) 0 10 0 11 0 Ditto (pref.) .. 0 o 8 0 2 11 Auckland Gas 0 7 5 0 7 8 Ditto (con.) 0 2 11 0 3 5 4 Howard Smith 1 4 3 1 0 Northern Steam .. 0 10 3 0 10 10 Ditto (con.) 0 2 10 0 3 1 Kauri Timber 1 6 6 — 6 Leyland-O'Brien . . 1 4 3 1 4 Taupo Totara (pf.) 0 10 6 0 11 0 Bruce Wool 1 12 0 1 14 0 Kaiapoi (f.p.) __ 1 o 9 Dom. Brew, (ord.) 2 5 3 2 6 0 Innes (ord.) 1. 14 0 1 16 6 New Zealand Blew. 2 3 0 2 3 0 3 0 Auck. Laundry .. 0 17 0 1 British Tobacco . . o 8 6 9 Broken Hill Prop. 2 4 6 2 4 Bycroft 2 11 (> 2 13 0 Colonial Sugar . . 5(i 10 0 57 10 o Consol. Brick 0 J) 10 0 10 (> Donaghy's Hope . . 3 5 0 3 8 0 Farmers' Trading 1 5 0 1. 6 0 6 Fletcher Hold. 1 5 a 1 11 Ditto (pref.) 1 9 0 t 0 Gear Meat — 1 3 (> 9 3 0 G. J. Coles — H.M. Theatre .. 0 14 6 0 12 K.D.V. Boxes 0 11 8 0 McKenzies 3 0 3 '1 0 Macky, Logan 1 1 4 0 1 10 0 M.K. Manufacturers 0 7 3 0 Z 10 (3 Morris Hedstrom . — 9 2 < N.Z. Farm. Fert. 1 4 0 — Forest Producls .. 0 6 9 7 3 6 Ditto (pref.) 0 11 0 0 11 Nth. Roller (pf.) 1 3 9 .— 0 Peters Ico (N.Z.) — 0 1 5 Radio (1936) . 0 18 O 0 Reid Rubber Mills 1 7 3 1 3 Sanford (ord.) 0 8 1 0 0 0 Ditto (prof.) .. 1 2 0 1 3 Silknit, (N.Z.) 1 4. 6 1 7 Whittome - Stevenson 1 3 0 1 5 Wilsons Cement .. 0 18 1 0 18 3 Wool worths (N.Z.) 1 1 5 1 ~— Ditto (Syd.) 1 1 0 1 9 6 4 8 9 9 0 Wths. Hlds. (S.Af.) 0 — 11 1 Martha 8 0 9 Waihi Invests. 0 5 4 0 Mount Lyell 1 9 0 1 (5 Mt. Morgan (ord.) 0 6 6 0 War Loan, 1/10/03 94 0 0 94 10 Stock — 96 5 0 15/6/47-49, -'/a ■ 93 10 0 15/9/52-55, 3 . . 98 0 0 15/5/53-56, 3 . . 15/12/53-56, 3 . 07 97 12 10 6 0 97 15 0 15/4/00-63, 3 .. 15/2/55-58, 3 . . 00 97 0 5 0 0 96 98 15 5 0 0 0 0 Auck. Gas (Perp.) 87 5 0 88