COMMERCIAL

New Zealand Herald, Volume 82, Issue 25202, 15 May 1945, Page 2

COMMERCIAL

AUCKLAND EXCHANGE A STRONG BUYING TONF. A strong tone was evident in the investment market on the Auckland • Stock Exchange yesterday. Buyers were plentiful at firm to higher levels for a wide range of issues, but, many sellers l either held off or raised their limits. 1 Turnover in the gilt-edged section was fairly heavy, and values showed only minor alterations. The day's business reached £3885. Banks attracted keen interest, and several parcels of prominent' issues changed hands. Nationals of New Zealand gained ground on sale, insurances also were strongly sought, So\ith British showing a further advance. Among the industrials, buyers came in strongly for Broken Hill Proprietary and four parcels were sold .'3d higher. Woolworths (Sydney) were traded actively on a rising market. Total share turnover at 5185 was heavy. CLOSING QUOTATIONS Changed quotations on yesterday's share

MARKET TURNOVER RETURN ON 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 Turn- Yield £ s d over* £ s d Lib. 15/5/5356, 3 . . 98 15 0 £ISOO 3 4 11 Do., 15/12/58 56, 3 98 10 0 £I4OO 8 8 0 Vic., 15/2/5558, 3 . . 97 17 6 £2OO 8 4 7 Com. Bk. A us. (3) .'. 0 17 8 900 3 15 6 Com. Bkg. Syd. (2) . . 21 5 0 25 4 8 Q Xat. Bk. N.Z. (2) .. 2 17 6 150 2 13 2 Bank N.Z. .. 2 8 0 193 2 18 4 Sth. British . 4-1 0 50 2 7 7 F.A.C. (£5) 5 .5 0 75 3 10 2 Renown Coll. 0 12 0 200 5 11 1 Leyland • O'B. 1 5 (> 100 318 3 Bkn. Hill (-1) 2 6 3 350 2 3 3 Dun lop Rub.(2) 1 5 9 700 317 8 Morts Dock . 1 5 0 250 512 0 Heid Rubber c 112 0 300 315 0 Wilsons Cem. 019 0 390 2 8 3 W'wths. (Syd.) 1 2 9 400 212 9 Ditto . . 1 3 0 100 212 2 Do. (2nd pf.) 111 6 300 4 811 Also.—Wool Bonds (£BS), 20s ftf; Ashburton Electric-Power Board, 1/8/59, iV, (£700), £lO9 12s 6d; Taupo Totara (ord.), (£500), 8s 6d; Woolworths (Byd.), (100), 22s lOd. •Turnover i« represented by the face value of loans and the number of share* sold. YESTERDAY'S PRICE CHANGES Previous Sale Variation £sd s d Lib., 15/5/53-56, 3 98 12 6 +2 6 Vic., 15/2/55-58, 3 98 0 0 -2 6 Wool Bonds .. 10 7 +0 1 Nat. Bank N.Z. .. 217 0 +0 « South British .. 4 3 6 +0 6 Renown Coll. .. 011 3 +0 9 Broken Hill Pty. .. 2 6 0 +0 3 Dunlop Rubber .. 1 410 +0 11 Woolworths (Syd.) . 12 7 +0 5 Wellington.—§ Victory, 15/2/49-50, 2% (£5000), £96 10s; §Lib«rty, 15/9/52-55, 3 (£1100), £97 15s; Stock, 1/8/51-54,3 (£450), £9B 7s (3d; Liberty, 15/12/53-56, 3 (£2550), £9B 10s (3); Victory, 15/2/55-58, 3 (£3800), £9B (3); Liberty, 15/5/53-60, 3 (£250), £9B 15s; Stock, 30/11/48, 4, 103 15s; Com. Banking Sydney (10), £2l ss; §N.Z. Brewories (100), 445. Chrlstchurch. —IVictory, 15/2/55-58, 3 (£1000), £97 17s 6d; ditto (£200), £97 17s 6d; § Stock, 15/1/56-59, 3'/« (£600), £IOO 15s; Stock, 15/1/53-57, 3% (£200), £lO2 59; Bank N.S.W. (10), cum. div., £35 58; Bank N.Z. (300), 48s; Goldabrough Mort (100), 31s 8(1; Canterbury Meat, ord. (20), £l4 17s (Id; Bcatb and Co., ord. (120), 32s 9d; SHerald and Times (50), 655; Macduffs, pref. (150), 2<>s; Otago Daily Times, 51s (odd lot); Wilsons Cement, cum diy. (200), 19s Id. Dunedln.—Stock, 15/4/60-63, 3 (£265), £96 ss; Liberty, 15/5/53-56, 3 (£1500). £9B 15s; Standard Insurance (100), £4 2s; Mosgiel Woollen (30). £l4 2s; Woolworths, N.Z. (100), 239. sSales made late on Friday. HUME STEEL CAPITAL The directors of Hume Steel, Ltd. (Melbourne), have decided to apply immediately to the Commonwealth Treasury Department for permission to issue the remaining 100.000 7% per cent cumulative preference shares of the company's capital. The additional finance in required for reorganisation nnd expansion ot plant necessary to meet the anticipated increased post-war demand. A plants reorganisation and expansion scheme has already been announced by the directors of the Hume Pipe Co. (Aiist.), Ltd., for which additional finance also will be required. Consequently the company will not be in a position to provide finance for Hume Steel, Ltd., to the same extent as in the past. Hume Steel, Ltd.. will in future have to rely to a greater extent on its own financial resources, which necessitates the present capital issue. MINING RESULTS (0.C.) WAIHI, Monday The following information has been cabled to the London office of the Martha Gold Mining Co. (Waihi), Ltd.:—During the period ended April 28 the mine operated 18 days, crushing 9574 tons of ore for 1978 fine ounces of gold and 16.573 fine ounces of silver. Grey River (West Coast). —Fortnight ended May 9: 425.30z in 231 hours from 151,926yd5.

LOWER MARTHA DIVIDEND Cabled advice has been received from London by Mr J. H. G. Banks, local director and attorney, that at the annoal mcetinc: of the Martha Cold Mining: Co. (Waihi). Ltd., to be held in London on June 7, the directors will recommend a first and final dividend of fid a share, free of income tax, for the year ended December St. 1014. The dividend is payable on June 22 to shareholders registered on May The dividend to shareholders on the New Zealand register will be paid in New Zealand currency. Transfer books will be closed from June 1 to June 16, inclusive. The dividend for 1H44 compares with 8d a share in 1943, JOd in 1912 and la 8d in 1041.

market were: — Buyers Sellers X 6 d il s d Hank Australasia . 9 • o 0 J 2 It Com. Bank Aust. . 0 17 7 0 17 9 Com. Bank Sydney 20 15 0 21 15 0 E., S. and A. Bank 4 13 3 •1 14 0 Nat. Bank X.Z. . . 2 17 3 — Nat. Bk. A'sia (con.) 6 15 0 7 2 6 Bk. N.S.W. (ex div.) 34 10 0 35 0 0 Bank N.Z. 2 7 11 2 8 3 Bank Adelaide .. 6 0 0 — N.Z. Insurance . . 4 16 0 4 18 0 Sth. British (10/) . 4 3 0 — P.A.C. (£5 pd.) . . 5 4 6 — Goldsbrough-Mort . 1 11 6 1 11 9 N.Z. & River Plate 1 0 6 1 2 6 N.Z. Guar. (3/) . . 0 4 0 0 4 9 N.Z. Loan & Merc. 65 0 0 75 0 0 N.A.F. (A pref.) .. Wilcox Mofflin 1 0 1 13 3 0 0 14 « Denny Lascellea .. 0 19 6 1 1 0 Renown (12/) 0 11 (3 0 12 6 Taupiri Auck. Gas (10/) .. 1 8 0 1 10 0 0 7 4 0 7 9 Ditto (5/) 0 3 1 0 3 4 , Devonport Ferry . . 1 10 0 1 11 <; Howard Smith 1 5 0 1 5 9 North. Steam (11/) 0 10 3 0 10 8 P. and 0. (def.) . . 2 12 6 — Union Steam (pf.) . 1 11 3 1 12 0 Ijeyland-O'B. (15/) 1 5 0 — National o 7 0 — Parker Lamb 0 3 9 — 'J'aupo Totara (10/) 0 10 0 — Kaiapoi (17/) Ditto (pref.) .. Timaru \\ ool 1 2 9 — 1 2 9 — 0 19 6 1 1 0 Yarra Falls 2 4 3 2 6 0 Toohey's (1(3/) ., 1 11 6 1 13 6 Entrican (pref.) .. 1 0 0 — A.C.I. •2 15 6 2 18 6 Booth-Mac. (pf.) .. 0 8 10 0 9 0 British Tobacco .. 2 9 6 2 11 9 Broken Hill Pty. . 2 6 0 2 6 3 Colonial Sugar . . 59 0 0 60 0 0 Cribb and Foote . 0 14 0 0 16 3 Dom. Fertilizer . . 1 5 0 1 7 0 Dunlop Rubber .. 1 5 6 1 6 0 Gear Meat (10/) .. 1 5 6 — G. j. Coles 3 9 6 3 11 0 Henry Jones 2 10 0 o 12 0 Hume Pipe (Aust.) — 1 1 0 Macduffs (ord.) 0 15 9 0 16 9 M. and C. (deb.) . . 1 9 0 — Morts Dock 1 4 6 1 5 9 Moturoa Oil (ord.) 0 1 0 0 2 0 N.Z. Drug (£2) . . 4 19 0 5 3 .0 Forest Prod, (ord.). 0 6 0 0 7 0 N.Z. Refrigerating 1 9 0 — Ditto (con ' 10/) 0 14 0 0 14 6 Peters Ice (N.Z.) . 1 4 6 — Sanford (7/6) 0 8 4 0 9 3 Selfridges (A'sia) . 1 7 0 — Taranaki Oil Fields 0 0 9 0 1 6 Wilsons Cem. (10/) 0 18 4 0 19 2 W'ths (Properties) Ditto (Syd., 5/) . 1 9 0 — 1 2 11 1 3 3 W. R. Carpenter . 2 5 6 2 7 0 Aust. Found. Co. . — 0 5 3 Arahura 1 14 6 — Ciutha 0 3 2 0 4 0 Martha 0 9 7 0 10 4 Mount Lyell 1 7 0 1 8 0 Jit. Morgan (2/6) . 0 7 6 0 8 0 „ Nth. Bkn. Hill (5/) — 2 14 0 Rawang (10/') 0 7 3 0 8 0 Wgton Alluvials . 0 3 6 — War Loan— 1.110/53, -2V, . . 93 17 6 91 7 6 Stock— 15/4/49-51, 2 l / s . 95 10 0 96 5 0 15/9/52-55. 3 . . 97 10 0 — 15/5/53-56 3 .. 98 12 6 — 15/12/53-56. 3 . 9S 10 0 98 15 0 15/1/56-59, 3Vt . — 101 5 0 15/4/46-49 4 .. 100 12 6 — 15/6/52-55, 4 . . 105 10 0 106 0 0 Wool Bonds— 1/2/4S 1 0 7 — 1/2/49 0 19 7 — L.B.. 1.5/9/49 .. 1 0 3 — Ashburton E.P.B., 9/8/59. 4V, . . — 110 10 0 Levin B.C.. 1/10/65, 3*/4 — 105 10 0 Auckland Gas, 1/7/49-52, 4Vi — 103 0 0 Ditto Inert), deb.) 87 10 0 89 0 0