COMMERCE AND FINANCE

Otago Daily Times, Issue 21021, 9 May 1930, Page 6

COMMERCE AND FINANCE

THE SHARE MARKET,

DUNEDIN STOCK EXCHANGE Business was done on the Dunedin Stock Exchange yesterday in Cornish Points paid-ups at 6d. There was a buyer later at sd, but- no seller came into the market. There was a reported sale of N.Z. Paper Mills at 20s 3d. and offers were made later at 20s. sellers demanding 20s Cd. Two parcels of Bank of New Zenlands were turned over at 57s 6d. When this figure was offered later sellers were asking 3d more. A £IOOO Bond. 44 per cent. (1941) was turned over at £9B. Later offers of £97 15s failed to attract a seller. Sale; Cornish Point (paid), 6d. Sales reported: N.Z. Paper Mills 20s 3d (cum div.); Bank of New Zealand. 57s 6d. 67s 6d (cum div.); 44 per cent. Bonds (1941), £9B. The following are yesterday afternoon’s buying, and selling quotations, which are subject* to the usual brokerage •BANKING. Australian Bank of Commerce —Buy £l2 4s. ■ Bank of New Zealand —Buy 67s 6d, sel 57s 9d. Commercial Bank—Sel 20s 3d. INSURANCE. National Insurance Co*—Buy 14s Bd, sel 19s. N.Z. Insurance Go,—Sel 44*. South British Insurance Co.—Buy 675, sel 60s. ■ Standard Insurance Co.—Buy 62s fld. . SHIPPING. Huddart, Parker (ord.) —Scl 38s 9d. Huddart, Parker (pref.)—Sel 20s 3d. U.S.S. Co. (pref.)—Buy 20s 9d. LOAN AND AGENCY. Goldsbrough, Mort—Buy 29s 3d, sel 31s. Wright, Stephenson (ord.) —Buy 20s. , MEAT PRESERVING. N.Z. Refrigerating (pd.)—Buy 10s, sel 11s 9d. N.Z. Refrigerating (cont.) —Buy 4s lOd, sel 5s Id. MISCELLANEOUS. British Tobacco —Sel 36s 6d. 1 Brown, Ewing (pref.)—Buy 20s. DJ.G. (pref.)—Buy 20s 3d. Dominion Rubber-I—Sei 1 —Sei 22s 6d. Dunlop Perdriau Rubber—Sel 16s 6d. Kaiapoi Woollen (ord.) —Buy Us. sel 11s 9d. . Kaiapoi Woollen (cont.) —Buy 3s 9d, sel 4s 3d'. . Milburn Lime and Cement—Buy 30a, ggj 32e N.Z, Drug Co—Buy 60s, sel 64s od.' N.Z. Farmers’ Fertiliser—Sel 20§. N.Z. Paper Mills (ord.) —Buy 20s, sel 20a 6d. Regent Theatre—Buy 20s. t Wilsons (N.Z.) Cement—Buy 40s. BREWERIES. , N.Z. Breweries, Ltd. —Buy 51s Sd. Staples Brewery—Buy 475, sel 48s 3d. Dunedin Brewery—Sel 275. MINING. Waihi Grand Junction —Buy la 2d, sel 2s. Electrolytic Zinc (pref.)—Buy 23a Od, scl 24s 3d. Electrolytic Zinc (ord.) —Sel 23s od. Mount Lyell—Buy 265. Paddy's Point—Buy .3s 9d. Kildare —Buy 7d, sel Is 2d. Okarito—Buy la prem, sel Is 6d prem. Stoney Creek —Sel 6d prem, Cornish Point (pd.)—Buy sd. WAR BONDS. 41 per cent. Bonds, 1938—Buy £97 15s. 4J. per cent. Bonds. 1939—8uy £97 15s. 4J per cent. Bonds, 1941—Buy £97 Iss. 54 per cent. Soldiers' Bonds, 1933—8uy £O9 44 per cent. Inscribed, 1938 —Buy £97 15s. •» 4J per cent. Inscribed, 1939—8uy £97 16s, 64 per cent. Soldiers' Inscribed. 1933 Buy £99 2s 6d. 64 per cent. Bonds, 1936—8uy £99 2s 6d.

NORTHERN EXCHANGES,

(Pcs (Jotted Peesis Association.) The following business was done on ‘Changes yesterday:— ' •> AucMand.—Sales: War Bonds (1939), 4J per cent., £OB 2s 6d; ditto (1041), 44 per cent., £9B 2s €d; Commercial Bank (late sale Wednesday). 20s; ditto, 19s 9d (three lots); Bank of New Zealand 57s 6d; New Zealand' Insurance,' 43s fld; National Mortgage, 59a 6d; North Auckland Farmers, 2s 3d; Auckland Gas. 23s lOd; N.Z. Breweries. 51s 3d; Fanners' Trading, 8s 2d; N.Z. Farmers” Fertiliser (late sale Wednesday), 18s 6d; Waihi, 14s 4d (two lots); Mount Lyell, 26s lid. Wellington.—Sales reported; Goldsbrough, Mort, and Co., £1 10s (two sales); Wellington Trust and Loan, £7 2s 6d; Auckland Gas Go. (paid), £1 3s -fld: Taupiri Coal (ord.), £l 6s 7Jd; Colonial Sugar, £4O 6s. ‘ Christchurch.—Sales; Commercial Bank of Australia, 19s 8d; Bank of New Zealand (cum div.), 67a 7d; Goldsbrough, Mort, 29s Od; N.Z. Breweries, 51s 3d; British Tobacco, 35s 4d (two parcels); Henry Jones Co-op., 28s 2d. Sales reported: Commercial Bank of Australia. 19s 9d; National Bank of Australasia (£5 paid, cum div.). £7 7s; N.Z. Breweries. 61s 3d (two parcels); British Tobacco. •36s 7d; Tooth’s Brewery, 31s 6d.

SALE OF FRIESIANS.

"GLENSTUART" DISPERSAL. (Special to Daily Times.) GORE, May 7. Messrs W Y. Dickie and Sons- Glenstuart," Ferndale, held their first annual dispersal sale of' registered Fresians yea terday before a aood attendance In all 36 head were offered, and the draft included males and females, from yearLng* l to mature cattle There was a fairly good demand/ but prices were hardly up to the level for pedigree cattle. However the sale was a very eood one, and n clear ance of everything, with one exception was made. The top price was 374 guineas for a bull caif by the herd sire Bloomfield Alcartra Clothilde, out of Willowbank Poach Delhurst 17th, which Swas purchased by Mr J. H. Dunn, Edendale Sales were as follow: Bullb.- -Glenstuart Clover Hero, 'salved June, 1928. by Clover Hero —Bonnie Plus Sylv ; a, 17Jcns, to J. H. Dunn, Edendale; Glenstuart Alcartra Del, calved December. 1029. by Bloomfield Alcartra Clothilde- Willowbank Poscb Delhurst 17th 374(ni8. to J H, Dunn; Glenstuart ('ham pion Ormsby. calved July, 1929, by Pearl Mutual Orrnsby Bloomfield Mercena Champion, 17gns. to Mrs F. Swain. Kamahi; Avonmore Royal Star, calved February, 1929. by Avonmore Proud Knight —Stella Queen Colantha, 15gns, to J. B, Falconer, Morton Mains; Glenatuart Alcartra King, calved October, 1929, by Bloomfield Alcartra Clothilde—Cordyflne White Queen, 26gns, to H, Fraser. Invercaigili; Glenstuart Alcartra Korndyke, calved March, 1929, by .Bloomfield Alcartra Clothilde—Belle Korndyke Woodcrest, 35gns, to J. Bell, Glenham: Glenstuart Pieterje Trojan, calved October, 1929, by Oakview Dutchland Sylvia Trojan— Oakview Pauline Pieterje Poch, ljgns, to A Bell. Balfour; Avonmore Proud Knight, calved October, 1926. by Sir Abbekcrk Rowena —Joan of Arc, 27gns. to V. Mullen, Knapdale; Avonmore Storm King, calved July, 1928, by Pieterje Colantha Lad—Snow Queen of Avonmore, 17gns. to R L. Hunt. Knapdale; Avonmore Proud Arc, calved March, 1929 by Avonmore Proud Knight—Joan of Arc, 15gns to VV. M'Leod. Dacre; Glenstuart Mutual Piebe, calved March, 1929, by Mutual Pearl Piebe---Bloomfield Elgin Colantha. 21gns. to H. Finn, Wallacetown; Glenstuart Alcartra Netherland Sylvia, calved October, 1929. Bloomfield Alcartr a Clothilde— Glenstuart Netherland Sylvia. 21gns, to Flett Bros.. Scott's Gap; Glenstuart Re gina King, calved October, 1929, by King Sylvia"* of Glenstuart —Glenstuart Regina Echo. 20gns. to Mrs P. Swain; Avonmore Proud Boy, calved September. 1929, by Avonmore Proud Knight—Abbekerk Girl. 22gns, to T. R. Eades, Edendale; Avonmore Proud Colantha, calved October 1929, by Avonmore Proud Knight—Colantha Johanna Girl, 16gns, to D. Tither, Edendale. Heifers.—Avonmore Colantha Girl, by Pieje'e Colantha Lad—Colantha Johanna

LOCAL AND OVERSEAS MARKETS.

DAIRY PRODUCE. i

SYDNEY WOOL SALES.

OTAGO MUTUAL STARRBOWKETT SOCIETY.

AUSTRALIAN MARKETS,

THE NEW ZEALAND LOAN.

Girl, 15gna, to J. Beck, Edendale; Glenstuart Johanna Mercedes, calved March, 1927, by Cordyline Cremona Pontiac— Cordyline Johanna Mercedes, 20gns, to J. Young, Wallacetown: Glenstuart Korn-' djke Echo, calved December, 1927, by Rosevale Korndyke Nurke—Glenstuart Magpie Echo, 20gns, to T. Kerr, Myross Bush; Glenstuart Korndyke Belle, calved October. 1927, by Rosedale Korndyke Burke —Glenstuart Daisy Belle 23gns, to J. Young,; Glenstuart Echo Marjorie, calved November, 1928 by Rosevale Echo Sylvia Sir Colantha 2nd—Glenstuart Magpie Inka, 16gns, to H Fraser. Wallacetown; Glenstuart Echo Colantha, calved September, 1928, by Rosevale Echo Sylvia Sir Colantha 2nd—Glenstuart Magpie Sylvia. 19gns. to Robert Hawk, Taramoa; Glenstuart Netherland Queen, calved September, 1928. by King Sylvia of Glenstuart—Glenstuart Netherland Sylvia. 21gns, to R J. Patterson Wallacetown; Glenstuart Regina Echo, i-alved December. 1927. by Rosevale Sir Echo Regina—Glenstuart Magpie Connie, llgne. to G Bathgate. Outram: Glenstuart Sylvia Echo, calved December, 1927. by Rosevale Sir Echo Regina—Glenstuart Sylvia Pansy, IBgns, to R Hawk; South- ‘ down Queen Daphne. calved August. 1028 j by Southdown Success--Queen of the I Sputhdowns ,10gns. to W Robertson. Mid : dlemareh* Avonmore Van Abbekerk I calved February, 1929. by - Avonmore | Proud Knight—Van Queen. 14gns to W M‘Leod. Dacre Cows. —Glenstuart - Colantha Echo, calved July. 1923, by Bell Farm Echo Sylvia Trojan (imp.)—Woodland Colan tha Lassie 30gns, to J. H Dunn Edendale; Glenstuart Colantha Lassie, calved August. 1926. by King Sylvia of Glenstuart—Glenstuart Colantha Echo 30gns to G. Bathgate, Outram; Cordyline White Queen, calved September, 1924, by Cordyhue Colantha King—Cordylme Queen Elizabeth. ISgns. to D Young. Otahuit; Glen stuart Magpie Tnka. calved September. 1924, by Rosevale Inka Korndvke Lad—Westmere Magpie. 23gns. to P. Inglis and Sons, Kamani; Glenstuart Magpie Connie, /calved September. 1926 by Rosevale Inka Korndyke Lad —Westmere Magpie, 23gns. to H. Carroll. Hokonui; GlensUiart Magpie Sylvia, calved October, 1926, by King Sylvia of ■ Glenstuart— Westmere Magpie, 24gns, to D. Dickie, Mataura; Willowbrook Poseh Bth, calved August, 1923, by Pareora Honour—Posoh dc Ko! of pakview. 20gns. to A Bell. Balfour; Colantha*Johanna Girl, calved November 1926, by Hero van Ena— Abbekerk Girl ogns. to A. Bell: Bloorafaeld Elgin Colantha. calved July, 1024. by Martha Elgin Torohunga No. I—Oafcleigh Colantha Weiman. 22gns. to H. L/arroll. Hokonui. A number of crossbred tested cows were TVn ' k an . < L r S ßllsed Prices ranging from £() IDs to £lB Bs.

The New Zealand Loan and Mercan* *vT e f ?, enc 7 Company, Ltd., has received the following cablegram from London, dated May 7:—Butter: New Zealand choicest salted relapsed to 128 s to 130 s owing to weakness in the Continental market. , Cheese: White, 82a to 84s: coloured. 87s to 88a. The market is quiet.

(United Press Association.) (By Electric Telegraph— Copyright) SYDNEY. May 8. (Received May 8, at 10 p.m.) At the wool sales the offerings totalled 9252 'b&les, of which 9163 were sold, in addition to 211 privately. Competition for the closing Bales to-day was well maintained, and prices were equal to the best rates of the series. Greasy merino brought 27}d.

FOREIGN EXCHANGES

' A meeting of members of the Otago Mutual Starr-Bowkett Society was held in the secretary’s board room last night. MrH. Harris presiding. The chairman explained that tlje business of • the meeting was to hold a ballot for a free loan on the No, 2 group and a sale loan in the No. 3 group. On a ballot being taken cluster No. 66, held by one member, was successful in securing the free loan The sale loan for £SOO in the No. 3 group was sold at a satisfactory figure. The chairman referred to the benefits of becoming a member of the No. 4 group, and urged members to. take up shares in it.

(United Frees Association.) (By Electric Telegraph—Copyright.) ■ SYDNEY, May 8. (Received May 8, at 10 p.m.) Wheat; Bulked, 4s 6d; bagged, 4s Bd. Flour, £ll. Pollard. £8 16s. Bran. £B. Potatoes; Tasmanian, £lO 10s; Victorian. £8 16s. Onions: Victorian Brown Spanish, £5. Date; White and Algerian. 4a.Maize: Yellow and white. Sa 6d. ADELAIDE, May 8. (Received May 8, at 10 pjm.) Wheat, is 2d. Flour, £lO ss. Bran, £7 10a, Pollard, £7 17s 6d. Oats, 2s 9d.

(United Press Association.) . <By Electric Telegraph;—Copyright.) LONDON May 7. (Received May 8. at 8 n-m.) The over-subscription of the New Zealand’ loan is so extensive that applicants have received about 30 per cent of their applications. Nevertheless dealings opened at Jth discount, reflecting the general heaviness of gilt edges. The loan subsequently recovered to par.

NO TALLOW SALE.

VICTORIAN APPLES,

MINING,

UNITED BUILDING SOCIETY,

A meeting of the members of the United Starr-Bowkett Building Society was held last evening, Mr F. W. Mitchell presiding over a good attendance. In his remarks, the chairman stated that the main purpose of the meeting was to dispose of £2BOO by appropriations in several groups. The 162nd appropriation was then held in No. 3 group and resulted in cluster No. 2 being drawn, held by two shareholders. As there were no bidders tor the 163rd appropriation by sale in this group, a ballot was held, cluster No. 8 being drawn. A ballot was held tor £SOO in No. 6 group, being the sixty-fifth appropriation. Cluster No. 62 was the number drawn. A sale was then held in No, 6 group, being the sixtysixth Appropriation, and £SOO was sold at, £26 per £IOO. The twentieth appropriation in No. 10 group was a safe of £BOO, tins money being sold at £3l per £IOO.

TAKAPUNA TRAM AND FERRY COMPANY.

FIRST AND PINAL DIVIDEND. (Speciai to Daily Times.) a . tl3 .AUCKLAND. May 8. Shareholders in the Takapuna Tramways and Ferry Company to-day received from the liquidator their first and final dividend of 7.16 d per share on their holding m the company. This concludes the career of. Tnkapuna't pioneer transport undertaking, which established about 22 years ago. ‘ For a "msiderable period the company conveyed passengers by ferry and tram to and from Takapuna As recently as 1924 the shares were worth £1 on the open market. The first signs of serious trouble came in 1926 when the accounts for the year showed only a small profit The influenza epidemic was blamed. Next year showed a Joss of £4640 the unsatisfactory result being attributed to, the opposition'©! motor buses Much was hoped from an effort to secure a monopoly of transport to and from Takapuna, but this was not successful. Faced with a difficult proposition the directors sold out the company’s vessels to the Devonport Steam Ferrv Company, and later went into liquidation.

WILSON’S PORTLAND CEMENT COMPANY.*

A SATISFACTORY DIVIDEND. (Special to Daily Times.) AUCKLAND. May 8. The directors of Wilson’s Portland Cement Company. Ltd., advise the payment of a final dividend for the year ended March 31 at the rate of 6 per cent., making 10 per cent, for the year, and a bonus of 2J per cent., making a total of 12J per cent, for the year! . This year’s - distribution to shareholders represents an increase of § per cent, on that of recent rears.

(British Official Wireless.) (United Press Association.) (By Electric Telegraph—Copyright.) BtTGBT, May 6. Par May l May 8. Pane, ft to £1 ... 131.21 123.93 123.85 Brussels, belgae to £1 35 34.835 34.8 S ' Oslo kl to Cl . 18.\p9 18.165 18.16 <tookholiu ki to Cl 18.159 18.09 18.10 Copenhagen fcr tc £1 18.169 18.165 18.165 Berlin mark* to £1 20.43 20.386 30.385 . Montreal -loi u£l 4.86| 4.83| 4.87 J Nea York dot to £1 4.86 J 4.86 5-32 4.881 Yokohama pence to yen 34.68 34| 24| Hongkong pence to del 34.58 18 1-16 IS| Bombay pence to rupee 18 17 T-S2 1713-18 Batavia florin* I* £1 12.107 12.075 Milan lilt to £l . 93.45 92.78 93.71 Amsterdam guild to £1 13.107 13.07 J 13.075 Prague fct to £1 . 34.03 1645 >645 Ueoeta t» , tl . . » 35.33 J 25,075 25.065 Vienna -dulling* to £) 34.66 J 34.485 34.46 flslslnglof*. mark* to £1 193.334 \ 193 193 Madrid oewta, to £1 26.224 39.305 39.84 ' Athene iraeMna to £i 35.32 J tiiatein ercodoe tn £1 4.60 J 108.30 103.30 Baobarert lei a £]- 973 818 818 Bio le taneux peno* mitre]!* . 18 > ' 5} 65 . Bueno* Aire* peno*- to peso* . . . .. 47.62 42 13-18 43| Shanghai oence to Cool 23J 22} 225 VICTORIAN GRAIN YIELD, (United Press Association.) (By Electric- Telegraph Copyright, i MELBOURNE. May 8. The Victorian grain yield tor 1929-30 showed a deficiency of 21,000,000 bushels, compared with the previous year’s harvest of 47,000,000 bushels.

(,United Prdss association.) (By Electric Telegraph--Copyrlgnt.) • . LONDON, May 7. No tallow sale was held to-day, Messrs Dalgety and Co., Ltd., advise having received the following cablegram from London, dated May 7:—Prices for tallow are nominally 6d per cwt. lower, public sales have been postponed indefinitely owing to absence of demand. BEET SUGAR PRODUCTION. (United Press Association.) (By Electric Telegraph—Copyright.) BERLIN, May 7. Lichts estimate the beet sugar production, European campaign, for six months at 6,049,634 tons.

(United Press Association.) (By Electric Telegraph—Copyright.) LONDON, May 7, The Mongolia’s Victorian apples are finding a firm market. Jonathans. 10s 9d to I2s; Dunns, Ila to 12s 9d; Cleopatras, Ila 0d to I3s 9d; Tasmanian Cleopatras. lls to I2s 9d; Cox’s, 14s to 16s; Jonathans, 10s 6d to lls fid; Alfristons, 10s Cd to Ils Cd.

ALEXANDER MINES. A report received from the Alexander Mines Company states;— In the clean-up for April, 343 tons, of ore were crushed for a return of 251 ounces 15 pennyweights of melted gold. The cyanide plant treated 186 tons of sands for a return of 90 ounces 1 pennyweight of bullion. The total estimated value is £1270. WINDING CREEK REPORT. The following report has been received from the secretary of the Winding Creek Gold Mining Company:— The wash-up on May 3 resulted in six ounces of gold being obtained. The manager reports that a considerable amount of development work had to be done in regard to the low level. The westerly drive on the low level has now been driven a distance of 43ft, and a distinct change of wash 1 is now visible, it being similar to the quality of that which was taken from the top lead where the company received the best returns. ,