COMMERCIAL

New Zealand Herald, Volume 82, Issue 25259, 20 July 1945, Page 4

COMMERCIAL

AUCKLAND EXCHANGE .RETAIL STORES SOUGHT Firm conditions ruled in all sections of the investment market on the Auckland Stock Exchange yesterday. Turnover. however, was lighter and only one parcel of £IOOO worth of Government loans was released in spite of firmer support. An upward tendency was again strongly in evidence in the industrial sections and a raising ot offers for woollens met with little response from holders. Retail stores were very strong. Business was done in Woolworths (N.Z.), now ex dividend, at an advance of 9d on the earn dividend price, while firmer bids wer,e forthcoming for several • other loading store issues.

CLOSING QUOTATIONS Changed quotations on yesterday's sharemarket were:— „ ~ Buyers Sellers Bank A'asia .. 9 0 0 9 7 6 Com. Bank Aust. . 018 5 018 7 Ditto (pref.) .. 10 10 0 Nat. Bank N.Z. .. 2 17 6 2 18 3 Bank N.S.W. .. 84 12 6 Bank X.Z. .. 2 9 0 2 9 3 Union Bank .. 8 5 0 8 7 6 National Insce. (7/) 16 3 N.Z. Insurance . . 418 0 Sth, British (10/) 4 8 6 Standard Insce. .. 4 4 6 F.A.C. (£5 pd.) . . 5 4 0 5 7 0 N.A.F. (B pref.) .. O 17 6 Trad. Finance (17/6) 0 17 0 018 3 Ditto (7/6) 0 6 4 Wright-Steph. (ord.) 17 0 Ditto (pref.) .. 15 3 Auck Gag (10/) .0 7 5 0 7 9 Howard Smith .. 15 3 North. Steam (11/) 011 0 011 6 Ditto (3/6) 0 3 2 0 3 5 Union Steam (pf.) 1 11 6 1 12 6 Kauri (25/) .. 1 10 0 —• National Timber .0 6 0 0 7 6 Felt and Textiles 2 17 0 Kaiapni (con.) .. 0 9 0 0 9 9 Ditto (pref.) .. 146

Oaniaru .. 19 0 1 10 0 Tiniaru . , .. • Dom Brow, (pf.) 2 11 9 Innes (ord.) . . 1 15 9 N.Z. Breweries .. 2 6 0 2 7 0 Tooth's Breweries . 3 1 0 3 2 0 A.C.I. . . 2 17 3 2 17 6 British Tobacco .. 2 8 6 2 9 6 Broken Hill Pty. . 2 6 7 2 7 0 Colonial Sugar 60 15 0 61 0 0 Dental & Mocllcal .14 6 Dunlop Rubber ..170 Electro * Zinc .. 2 18 3 Ditto (pref.) .. 218 3 Farmers' Trading: .17 3 Ditto (A pref.) 16 9 Fletcher Hold, (ord.) 111 11 112 0 Hadficlds Steel .. 012 3 013 0 Henry Jones .. 2 12 0 H.M. Arcade (ord.) 0 16 9 K.D.V. Boxes (10/) 010 0 011 6 McKenzies .. 3 5 0 3 7 6 Mack.v Lojran ... 115 3 116 6 Mefters .. 0 19 6 M. and C. (deb.) . 110 6 111 3 Ditto (pref.) . . 19 0 Ditto (B pref.) 1 10 0 M.K. Mfrs (5/) .0 8 2 0 8 7 Morris Hedstrom . Moturoa Oil . . 0 0 9 0 1 3 Ditto (pref.) .. 0 2 3 0 3 3 N.Z. Farm. Fert. .16 0 « Ditto (pref.) .. 16 0 Frvrest Products (pf.) 011 3 011 9 N.Z. Newsprs. (l<>/8) 2 5 6 N.Z Rcfriu;. (pd.) 19 6 Ditto (con.) 0 14 4 Reid Rubber . . 111 6 112 3 sanford (ord.) (7/6) 0 8 10 Ditto (pref.) .. 14 0 15 0 Silknit (N.Z.) . . 1 fi o lid 0 Wilsons Cem. (10/) 019 6 019 9 W'ths (N.Z.) (6/) .14 7 15 0 Ditto (Props.) .19 6 Ditto (Syd.. 5/) . 1 3 5 Do. (Ist pf,, ex d,) 2 0 0 Do (2nd pf. ex d.) 110 0 W.R. Carpenter .2 3 9 2 5 0 Kandos Cement .. 1 15 6 Arahura .. 114 0 117 6 Waihi Invests. ~ 0 6 1 0 6 3 Bkn. Hill Sth. (5/) 18 0 1 810 Emperor . . 015 3 Mount Lyell . 18 0 18 6 Mt. Morgan (pf.) . 1 2.0 Rawang (10/) .. 0 8 3 0 8 6 Stock—--15/2/49-50. 2Vj . 97 17 6 15/5/53-56. 3 . . 98 5 0 15/12/53-56. 3 . 98 2 6 15/4/60*63, 3 . . 97 5 0 15/4/56-59. 3.. 97 17 6 98 0 0 15/4/46-49. 4 . . 101 5 0 30/11/48. 4 .. 103 0 0 Wool Bonds, 1/2/48 1 0 10 L.8., 15/9/49 ... 1 0 9 Thames 8.C.. 1/4/73. 3 80 0 0 86 0 0 u —Southern Cross Assurance b. 2/3. s. 2/7j Walker and Hall, b. 26/6.

f , 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 Tnrn- Yield £ s d 1 over* £ s d Vic., 15/2/4950, 2 1 /, . . 98 0 0 £IOOO 3 0 7 Com. Bk. Aus. 018 6 100 316 4 Sth. British .4 8 6 50 2 4 8 N.A. Far.,B pf. 1 6 6 100 315 6 Timaru Wool 1 0 8 300 418 9 Dom. Brew., pf. 212 3 100 312 8 Con. Brick .0 9 6 200 3 1 6 Den. & Med. 150 21S 400 Flet. Hide. (3) 112 0 450 315 0 N.Z. Refrig., con. 014 6 200 315 11 Reld Rubber . 1 12 0 200 3 15 0 Sanford .. 0 9 0 500 5 11 1 Ditto (pf.) . 14 6 100 4 11 5 Wths., N.Z. (2) 1 4 9 200 210 6 Mt. Lyell .. 1 8 6 200 t Also: Liberty Bonds, 15/9/49 (100), 21s. Unofficial list: Southern Cross Assurance (250), 2s 6d. . tlnterim dividend passed. •Turnover is represented by the face value of loans and the number of shares sold.

YESTERDAY'S PRICE CHANGES Previous Sale Variation ,£s d s d Vic., 15/2/49-50, 2Va 97 12 6 4-7 6 Lib. Bonds, 15/9/49 1 0 9 +0 3 N.A.,Farni. (B pref.) 16 3 +0 8 Timarn Wool .. 0 19 10 +0 5 Dom. Brew, (pref.).. 2 -7 9 +4 6 Dental and Medical ISO +2O Reid Rubber .. 112 4 -0 4 Sanford .. .. 0 8 10 +0 2 Ditto (pref.) .. 12 6 +2 0 Woolworths (N.Z.) .14 0 J {Previous sale cum dividend. Wellington.—Taupo Totara, pref. (300), 10s 7d; Timaru Woollen (300), 20s 3d; New Zealand Breweries (100), 46s 4d; Colonial Sugar (17). £6l; Fletcher Holdings (200), 325; Woolworths Properties (200), 30s.' Christchurch.— Victory, 15/4/56-59, 8 (£500), £9B 10s; Liberty Bonds, July, 1948 (115), 20s 9d; National Bank Now Zealand (150), 58s; New Zealand Insurance (50), 98s 9d; Christchurch Gas, fully paid (300), 275; Kaiapoi Woollen, pref. (300), 265; MosKiel Woollen (20), £l4 'Js (3); New Zealand Breweries (100), 46s 3d; Quill, Morris (1936) (100), 308; Woolworths, N.Z. (100). 24s lOd.

LOWER EGG PRICES REDUCTION OF 3D A DOZEN A reduction in the price of eggs became effective this week. In the case of standard grades, hen and duck eggs, retail prices are down 3d a dozen to 3s 2d and 3s a dozen respectively. The Auckland Egg 1 Marketing Committee, in conjunction with the Internal Marketing Division, has declared the following prices effective as from last Monday for all egg sales in the Auckland marketing area and the Tauranga and Hamilton special marketing areas:—Hen: Heavy, wholesale. 2s .13Vad a dozen; retail, 3s 3d; standard. 2s lOVjd and 3s 2d; medium, 2s ti%d and 3s; pullet, 2s O'/ad and 2s 3'/ a d; ungraded, 2s oy 3 d (wholesale). Duck: Standard, wholesale, 2s BVad. retail. 3s; medium. 2s (f*/ a d and 2s lOd; small, ,2s 3 1 / 3 d and 2s aVjl; ungraded, 2s a (wholesale) Country prices outside of these marketing areas are '/ 2 d a dozen less for al! grades, making country storekeepers' buying orices for ungraded hen eggs 2s (Jd and duck 2s 3d.

IMPORT DUTY ON WOOL

BRITISH GROWERS* SUGGESTION (N.Z.P.A. Special Correspondent) LONDON, July 'MI A remarkable suggestion that all wool imported into the United Kingdom should pay an import duty up to ad per lb in order to subsidise British sheep-farming has- been placed by the Association of Landowners before the Government committee which is investigating schemes for post-war marketing of Britain's home-grown wool. In Bradford trade circles this scheme has been described as "fantastic" and "ingenuous" and responsible commercial quarters belicvd that the adoption of any such proposals may be regarded as highly improbable. Without going into the question of whether further assistance is needed by British woolgrowers—as the price already paid by the Government for the British wool clip embodies a subsidy for the grower—the wool-consuming trades of Britain contend that if such assistances needed it is impracticable to provide it by means of a duty on imported wool. It is true the scheme suggests that if the imported wool is exported again it should receive a rebate. That the United Kingdom Government would go to the other extreme and after subsidising wool to the British public would them pay an import duty on it amounting—on the average ure-war prices—to 25 or 30 per cent, is unthinkable to the commercial mind here. Bradford cannot conceive that any planning for Britain's homegrown wool will ever embody any handicap for imported wool, One of Britain's most import'jnt manufacturing industries depends on Dominion woo!, and its free entry is essential to Britaiy and to Dominion prosperity.

MINING YIELDS Slab Hut (West Coast).—fiooz, 21,600yd5, 126hrs. for week to July 13. r , Gr . eJ l r i iv £ r (Weßt Coast).—Fori night ended July 18, 869.40Z, 188,941yd5, 185h*». ©