COMMERCIAL

New Zealand Herald, Volume 82, Issue 25288, 23 August 1945, Page 2

COMMERCIAL

AUCKLAND EXCHANGE DEMAND FOR GILT-EDGED A strong'demand for Government loans was again in evidence 011 the Auckland Stock Exchange yesterday, when prices for gilt-edged issues continued to harden and the market readily absorbed available supplies. The volume of business expanded generally, but in investment shares buyers revealed some reluctance to follow prices up higher and more sellers met the market. A feature, however, was the added strength throughout the insurance section following the declaration of the rate of the New Zealand Insurance peace bonus. The market had apparently almost fully anticipated the extent of this benefit, but sellers or other insurance issues" were unresponsive to buyers' higher calls. MARKET TURNOVER RETURN ON INVESTMENTS In the following list of yesterday's sales violds allow for exchange and British income tax where niHwsiiry and, in the ciise of lomis, redemption and brokerage:

Also: Reid Rubber, eon., fully paid (100), 31k 3d Unofficial list: Selfridges, N.Z. (100), lie. "Turnover is represented by the face value of loans and the number of shares sold. YESTERDAY'S PRICE CHANGES Previous Sale Variation £ 8 (1. 8 (i Liberty, 15/5/48, 2% . OS 17 <! +5 0 Victory, 15/2/55-58, 3 . 100 0 0 t Stk., 15/0/57-60, . 101 15 0 +ls 0 E.. S. and A. Bank .. 413 8 -3 3 Broken Hill Pty. .. 2 7 3 +0 9 Colonial Sugar .. 61 0 0 -2 6 Fletcher Holdings .. 112 9 +0 3 G. J. Coles .. 3 12 6 +0 0 Reid Rubber .. 1 15 0 -0 3 Ditto (con., f.p.) .. 1 14 6 -0 3 Woolwortlis (Syd.) .. 15 6 +0 3 Waihi Investments . . 0 6 2 +0 2 tPrevious sale cum interest. Wellington, War Loan, 1/10/53, 2'/ a (£8160), £96 10s; Stock, 15/9/57*60, 3'/4 (£595), £.102 10s; ditto, 15/6/52-55, 4 (£310), £lO5 15s; Bank N.Z. (100), 50s JOd; Bank N.S.W. (15), £3-1 10s; Taringamutu Totara (100), 21s; Hotoiti Timber (500), l)s 9d; Claude Neon N.Z. (205), 40s; U. .T. Coles (100), 73s Od; J. J. Niven (200), 21s Od; Beatii (100), 355; National Electric (200), 3ls; Reid Rubber, new fully paid (150). 31s 6(1; Woolwortlis N.Z (200), 25s l)d; Woolworths, Syd. (200), 25s Od (2); Woolwortlis Holdings, S.A. (100), 335. Christchurch*. —War Loan, 1/10/53, 2 l / a (£400), £O6 10s; Victory, 15/4/56-50, 3 (£500), £O9 2s Od; Liberty, 15/6/47-49, 2 l / 2 (£10,000), £OS 7s 6d; Stock, 15/4/46-40, 4 (£2125), £lOl 12s Od (2); National Savings, July, 1918 (100), 20s B<i; ditto. 16/5/50 (500), 10s Cd; ditto, 22/0/40 (500), 20s; Wool bonds, 1/2/48 (100), 21s; ditto, 1/2/49 (285), 20s sd; Bank N.Z. (50), 50s Od; National Insurance (200), 275, 27s 3d; N.Z. Refrigerating, con. (300), 15s; A.C.I. (200), 575; Booth, Macdonald, ord. (500), Is 8d; Grey liiver' (100), 10s. Ounedin.—Liberty, 15/5/53-56, 3 (£600), £99 15s; ditto, 15/12/53-56, 3 (£2000), £99 10s (2); Bank N.Z. (100), 51s; ditto (100), 50s Od; N.Z. Refrigerating, con. (200), 15s; Auckland Gas, con. (300), 3s Id; A.C.I. (412), 57s (3); Macduffs, pref. (300), 28s 3d; National Electric (200), 345; Woolwortlis, Syd (100), 25s lOd. Unofficial list: Mackintosh, Calcy, Phoenix (200), 35s 3d. GREY AND MENZIES

UNCHANGED DIVIDENDS After writing off £255 loss on realisation of Government loan Grey and Menzies, Ltd., showed a net profit of £2l SO, a reduction of £ 1736, for the year ended June 30. To maintain the same dividend of 8 per cent on preference and ordinary shares the carryforward has been reduced by £25.'! to £1063. Results for three years are:— .Tune 30. 1943 1914 101.) Carried forward . £1,367 £1,733 £2,210 Not profit .. 2,500 3,922 2,180 £3,567 £5,0)55 £4,402 Dividends — 'Pf. & ord., p.c. 7 8 8 Amount .. 2,134 2,439 2,430 To reserve .. Carried forward . £1,733 £2,216 £1,963 4 After writing off £255 loss on Government loan realisation. During the year a bank credit of .£2497 has been converted into an overdraft of £1328. At the same time investments have been reduced by £3125 to £Olsl. Stocks have been increased by £2978 to £16,955 and properties, plant, etc., are £IBSB higher at £31,518. DOMINION'S MEAT EXPORT INCREASE IN OUTPUT The increase in meat killings for the current season reveals the substantial contribution meat producers of the Dominion are making to the food supply of Britain, while at the same time meeting obligations to Allied forces in the Pacific area. Export killings for the season from October 1, 1944. to July 28, 1045, compare with the previous year's corresponding figures as follows: — 1944-45 1943-44 Increase Lambs . 10,659,075 10,508,973 +150,102 Wethers 770,229 641,556 +128,673 Ewe a . . 2,015,070 1,962,738 +52,932 Beef (qrs.) 896,154 482,816 +414,338 In addition an all-round increase in average weights has been an important factor in the increased export tonnage of meat. Stocks of meat in cool store awaiting export at the end of July were appreciably lower than at the corresponding date of 1941 This indicates that the Dominion's substantial increase iri production has not been handicapped by shipping shortage nnd that the outlook in this respect for the coming season ,is good. WESTFIELD SALE INCREASE IN PRICES A less than average yarding of beef met with a very ready demand at yesterday's salo at Westfield, with prices sharply on the increase. Extra choice ox sold up to £3 per 3001b, and extra heavy prime steers from £25 to £26 10s. Sheep were penned in smaller numbers and values increased on those ruliriK last week, with a good demand for all classes. Calves and lambs sold readily at higher prices, with calves in small numbers and lambs in average supply. Prices for good quality store pigs were a trifle easier. Alfred Buckland and Sons, Dalgety nnd Co. and the New Zealand Loan and Mercantile Agency Co. report:— Beef. —Values for beef advanced considerably and there was a keen demand for a less than average yarding. Extra choico ox, to £3 per 1001b; choice and prime. £2 16s to £2 19s: ordinary, £2 10s to £2 15s; extra prime heifer, to £2 16s; choice and prime, £2 lis to £2 15s; ordinary, £2 5s to £2 JOti; extra heavy prime steers, £25 to £26 10s: heavy, £23 to £2l 15s; medium, £2l to £22 15s; light, £lB 5« to £2O 15s; small and unfinished. £l6 to £18; extra heavy prime cow and heifer, £l7 12s 6d to £l9 12s (Jd; heavy, £l4 to £l7 10s; medium, £ll to £l3 15s; light, £8 12s (id lo £10; small, unfinished, £5 to £8 10s. Sheep.—Less than average numbers of sheep were penned and values increased on those ruling last week, with a ready inquiry for all classes. Extra heavy prime wethers. £2 lis to £2 16s; heavy, £2 12s to £2 13s 9d; medium, £2 9s to £2 lis »d; light, £2 5s 6d to £2 8s od; plain and unfinished, iM 17s to £2 ss; extra heavy prime young and maiden ewes, £1 15s to £2 3s Od; heavy, C 1 lis to £1 13s; medium, £1 8s to £1 10s; light, £ i On to £1 7s 9(1; Just killable, His to £ I ss; ot her, 12s to 18s. . Lambs.—Values improved on last week's rates for average numbers of lambs and competition was keen./ Extra heavy lambs, £1 16s to £2 2s; heavy, £1 12s to £1 15s; medium, £1 10s to £1 'lis Od; light, £1 to £l. Os 9d; smaller. £1 5s to £1 7s Od; unfinished, best, £1 Is (id to £1 4s yd; others, 17s to £1 Is. ' Calvbs. —Calves were varded in small numbers, with keen bidding and a sharp rise oh recent quotations. Runners, £9 to £lO 7s fid; heavy vealers, £9 10s to £l2 10s; medium. £8 to £9; light. £6 to £7 10s; small, £1 5s to £5 10s; unfinished and bucket-fed. £1 to £2 10s; bobby and rough, 9s to £l. Pigs.—A full yarding of good quality stores sold freely, with prices a shade easier, while prime bacoriers met with a ready demand. Choppers, £3 ,to £7 17s Od; heavy prime baconers, £5 10s to £5 16s; medium, £4 15s to £5 8s; light, £4 7s to £4 14s; heavy porkers, £3 10s to £4 ("i«; medium, £3 Os to £!i los; light, £2 178 to £3 ss; stores, £2 10s to £3; slips, £1 15s to £2 8s: weancrs, £1 5s to £1 10s. •

AUCKLAND EXCHANGE Sale Price TurnYield £ 8 (1 over* £ 8 d W.L., 1/10/53, 0 £'350 ii l / 3 00 10 3 1 3 Lib.'. 15/5/48, £2000 2 17 4 2 1 /, 09 2 0 Vic., 15/2/55£1000 58, 3 (!2) . 99 0 0 3 1 1 Stk., 15/9/57£595 3 10 00. a 1 / 102 10 0 1 Ak. H.B.. 9/7/52, 10 4% 100 5 0 £500 3 4 M. A. Boro., 1/7 / 02, 1 4% 111 10 0 £200 3 7 Ak. Gas (porn.) 80 15 0 £700 4 0 1 Com. Bank Aus. (3) 0 18 3 400 3 17 7 E. S. & A. Bk. 4 10 0 70 3 3 4 Bk. N.S.W. (2) 31 10 0 29 3 10 7 Ak. Laundry . 0 IS 9 200 4 5 4 A.C.I. 2 17 0 100 o 9 1 British Tobacco 2 8 9 50 3 13 10 Bkn. Hill Pty. (3) 2 8 0 300 2 1 8 Col. Susur . . (10 17 0 n o 12 H Flet. Hldgs. (2) 1 13 0 200 3 12 9 (r. J. Coles . . 3 :i3 0 00 o 14 9 Reid Rubber . 1 14 0 250 3 9 1 Wilsons Cem. . 1 1 0 1300 1 12 1 W't-hs (Syd.) (5) 1 5 9 S7-1 o 0 6 Waihi. Invest. 0 6 4. 300 1 6 0