COMMERCE AND FINANCE

Otago Daily Times, Issue 21919, 3 April 1933, Page 4

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE A parcel of Kaitangatas was turned Over on the Dunedin Stock Exchange on Saturday at £l, further offers of 19s 6d finding sellers firm at £1 Os 6d. Australian Glass shares were asked for at £2 4s Gd, the best selling quotation being 2s 6d in advance of that figure. An offer of £2 2s for paid-up Southland Frozen Meats found sellers firm at £2 ss. New Zealand Breweries were wanted at £1 7s, sellers demanding Is more. King Solomons were asked for at Is lid, 3d separating buyers and sellers at the close of the market. SALE ON CHANGE. f _ J

WELLINGTON EXCHANGE (Pelr United Press Association.) The following business was done on the Wellington Exchange late on Friday:— Sales: Investment Trust Agency 4s, Blackwater Mines 22s 6d. BANK OF ENGLAND POSITION OF FIDUCIARY ISSUE. (United Presß Association.) (By Electric Telegraph—Copyright.) LONDON, March 31. The Bank of England's fiduciary issue has reverted to the normal amount — £260,000,000. .; -PRICE OF SILVER : (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, March 31. Silver is quoted at: Spot, Is 5Hd per oz; forward, Is 5 7-16 d. RABBIT MARKET "■■; , (United Press Association.) .(By Electric Telegraph—Copyright.) LONDON, April • 1. (Received April 2, at 7 p.m.) Rabbits, first, large, ex store, are quoted at 16s 6cl to 17a. THE TIN MARKET (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, April 1. (Received April 2, at 7 p.m.) Stocks of tin for April are stated at 2325 tons. COTTON, RUBBER, ETC. (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, April 1. (Received April 2, at 7 p.m.) Friday's closing prices were as follows: Cotton: Spot, 5.15 per lb; May, 4.89 per lb. Rubber: Para, 4jd per lb; plantation, smoked, 2 B d . Jute: April-May delivery, £l4 15s per ton. Copra: April-May delivery, South Sea, £lO 12s Gd per ton; plantation Rabaul, £lO 15s. Linseed oil, £l6 10s per ton. Turpentine, 59s 3d per cwt.

LOCAL AND OVERSEAS MARKETS.

PRICE OF GOLD (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, April 1. (Received Anril 2, at 7: p.m.) Gold is quoted at £6 7s Oid'per oz. . MERCHANDISE MARKET The Waihemo, due on April .8, will land supplies of British Columbia salmon, some grades of which are getting into short supply. She will also bring prunes in the various grades, unbleached seedless raisins, golden bleached seedless raisins, Sunmaid seeded and seedless raisins, and Canadian macaroni and vermecelli. A shipment of walnut meat, halves, pieces, and screenings, lias just come to hand. The market will receive supplies ol sugar on Wednesday ex the Waipiata. Shipments of tea continue to show merchants an increased cost. A parcel of China buds which has just reached the market also shows a much higher cost. Club coffee has been reduced in price. Clarence cigarettes have been advanced slightly in price. , Oil of salts, loz, show an increase in price. DAIRY PRODUCE Messrs H. L. Tapley and Co., Ltd., have received the following cabled market report from London: — Butter, 67s to 69s per cwt. Market depressed. Cheese. —White, 40s per cwt; coloured, 47s per cwt. Market quiet. The South Island Dairy Association, Ltd.. has received the following market report from London: — Butter: Dull; 67s to 68a; Danish, 90? to 91a. Cheese: Slow. White, 40s; coloured, 47s to 48s. LONDON PRODUCE MARKET The Bank of New Zealand has received the following advice from its London ofiice under date March 31: — Frozen Meat. —Larger supplies of wethers have caused prices to weaken. There is a weaker tendency for ewes. The demand for lambs continues, but it is not quite so brisk; the market is steady, and no material change is expected yet. Wethers —light 4d to 4gd per lb, heavy 3d to 3£d per lb; ewes, 2Ad to 3Jd per lb; lambs—twos sid to 6d, eights 4|d to 5&, fours 4|d to 4|d, seconds 5Ad to Gd per lb. WOOLWORTHS, LTD. Woolworths, Ltd., a general store organisation, reports a profit of £108,788 for the year ended January 31, 1933, compared with £97,407 the previous year. Provision of £40,000 is made for taxation. Of the balance, £68,788, preference dividend of 10 per cent, absorbs £7500, three interim dividends of 3§ per cent, on ordinary shares account for £18,876, and it is now proposed to pay a final dividend of 6£ per cent., making 17$ per cent, for the j-ear and a bonus of 5 per cent. The remaining sum, £23,535, is to be transferred to the general reserve. Total reserves (exclusive of taxation provision and depreciation) will then be £129,493. The directors report that all branches are operating successfully. Satisfactory dividends have been received from the company's two subsidiaries, Woolworths (W.A.), Ltd., and Woolworths (N.Z.), Ltd. New branches were opened during the vear at Bondi Junction, Ashfield, and Newcastle, a building is in course of erection bv the company at Pitt and Liverpool streets, Sydney, and further expansion is contemplated. To provide for present and contemplated expansion, the directors ask the shareholders to approve of the creation of 200,000 7 per cent, second cumulative preference shares, out of the unissued ordinary capital of the company (£732,212). It is not proposed to issue the shares at present, but to have them available when required. The heavy burden of taxation.has been added to by an increase of 50 per cent, in the rate of the Queensland income tax.

MOTUROA OILFIELDS Moturoa Oilfields, Ltd., reports upon operations at New Plymouth for the week ended March 24 as follows:—No. 3 well: As some damage occurred to the bottom of the 6-inch casing, it has been necessary to pull out the casing. This has been done, and it has been replaced to 2124 feet, and is now being cleaned out preparatory to a recommencement of drilling next week. Strong gas pressure still continues with small showing of oil. No. 2 well produced 120 barrels (4200 gallons)' of oil. FRUIT AND PRODUCE WORLD Reilly's Report selling:— - . Per Pottle.—Strawberries: Melbas, 9d, Per Dozen.—Cauliflowers, 2s Gd, 3s Gd. Cabbage, 2s. Lettuce, 6d, Is. Honey: |lb pats, 3s 6d; section honey, 6s, 7s 6d. Spring onions, Gd. Eggs: Poultrykeepers, Is 4d, Is 6d; pullets, Is, Is 2d. Celery, ls > 2s. . , c „, Each.—Champion egR crates, 15s 6cl. C.MiW. knapsack sprayers, £5. Half-cases.—Apples: Otago Central, Cox's desserts, 3s 6d, 4s 9d. Plums: Desserts, 3s, 4s Gd. Damsons, 3s, 3s 9d. Pears: Bartletts, 2s Gd. Passions: New Zealand choice, ss; others, 3s, 4s. Peaches: Small jam, Is 6d, 2s Gd; choice freestone, 2s 6d, 3s Gd. Cucumbers: Outside, Is Gd, 2s. ' . Bushel Cases.—Apples: Otago Central, Cox's, 6s, 10s Gd; Jonathans, ss, 7s; Delicious, 6s, 7s 6d; cookers, 3s, 4s; others, desserts, 3s, 4s. Pears: W.8.C., Gs, 8s; Winter Coles, Gs, Bs. Lemons: New Zealand, 12s, 20s; Italian, 27s Gd. American Cases.—Oranges: Navels, 495. Bananas: Nines, ripe, 20s. Cahfornian grapefruit, 50s. Sacks.—Coconuts, 12s. Buckets.—Cultivated blackberries, Gs, 7s Gd. ,-,,., Per Pound.—Quinces, 2d. Blackberries: Wild. 3d, sd. 'Peaches: Crates, choice, 3d, 4Jd. Grapes: Oamaru, 9d, lid; local, ]od, lid; Gros Colmars, 2s; Otago Central, small, 3d, Gd. Butter beans, 2d, 2-kl. Garlic, 2d, 3d. Bulk honey: Choice, 4d: discoloured, 3d. French I beans, 2d, 2jd. Scarlet runners, ljd, 2id Broad beans, ljd. Green peas, lid, 2id. Huckleberries, 6d. Walnuts, Bd. Cheese, 7d. Tea: Orange Pekoe, 2s. Porker and bacon pigs, 3d, sd. Bacon: Prime, Bd. Hams, lid. Beeswax, Is. Butter: Storekeeper's, 7d. Tomatoes: Locals, 3kl, sd; Christchurch choice, 1-kl, 2d; seconds, Id; Otago Central choice, lid, 2Jd; seconds, Id. Per Cwt.—Pumpkins, Gs. Marrows, Bs. Potatoes, 4s. Onions: Canterbury, ss. Woodwool, 28s. Bluestone: Macclesfield, 42s 6d. Oyster grit, 7s. Olive oil, 10s gallon. Semesan and granosan: 2oz, 2s 3d; lib, 7s 6d; lib, 12s; 51b, 555; 251 b, 2455. Fruit wraps, 3s ream. Vallo Giraffe lime sulphur: Cases 8 gallons, 2s 3d; barrels, Is 9d. Black Leaf "40": American, 101 b, 525; 51b, 30s; lib, 8s Gd; Mb. 4s Gd. British, 101 b, 455; 51b, 27s Gd; lib, 7s Od. Per Bushel.—Wheat: Choice Canterbury, 4s Gd. Partridge peas, Gs Cd. Kibbled maize, 6s. Oats: A Cartons, Is 9d; B, Is 6d. Crushed oats, lis. X Keys meatmeal, 15s. Firewood blocks, 2s Gd. First grade coal, 3s per bag delivered. Manukau tomato stakes, 8s per 100. Palmer's chick food: 1001 b, 17s Cd; 501 b, 10s 6d; 251 b, 6s. Strawberry plants, 25s per 1000. Per Ton—Bran, £5. Pollard, £5. Straw: Wheatcn, £2 ss; oaten, £2 10s. Hay, £4. Oatsheaf chaff, £3 10s; ex store, £4. Oatmeal, £23. Per Pair.—Poultry: 31G hens at 2s to 6s lOd, 142 cockerels at 2s to 8s 2d, 99 ducks at 2s Gd to 5s 2d, 6 pullets at 9s to 10s Gd, 10 bantams at Is to l s Gd. REILLY'S CENTRAL PRODUCE MART, LTD, Moray place, Dunedin.

£ s. d. 1 0 0 The following are Saturday 's buy ing and selling quotations, which are subject | to the usual brokerage:— BANKING. Buyers. Sellers. | £ s. d. £ s. d New .South Wales — 29 2 6 New Zealand .... 2 4 0 '■ — Commercial ... .. 0 13 11 0 14 3 Natl, of New Zealand ' 3 5 6 — Natl.of A'sia (cont.) — 5 16 0 0 7 12 0 INSURANCE. National 0. 16 0 — New Zealand .. ;. 2 7' 0 ■— South British .. 3 1 6 — SHIPPING. Huddart, Parker (ord.) : 17 6 —: Huddart, Parker (pref.) .. ... .. ' 1 3 U.S.S. Co. (pref.) 1 1 0 — . 0 — COAL. Kaitangata .. ... 0 19 6 1 o. s Westport 0 12 3 — LOAN AND AGENCY. Goldsbrough, Mort — 1 2 9 National Mortgage 1 7 6 1 13 0 MEAT PRESERVING. N.Z.Refrig. (paid) 0 10 3 — N.Z.Refrig. (cont.) 0 3 8 0 4 0 South. Froz. Meat (paid) 2 2 0 2 5 0 MISCELLANEOUS. Australian Glass.. 2 4 0 2 7 0 Brown, Ewing (pref.) — 0 19 0 Bruce Wlln (ord) 0 7 0 0 10 0 Crystal Ice .... — 1 10 0 D.I.C. (pref.) .. .. 0 18 0 — Milburn Lime.. .. 14 c — N.Z. Drug Co. .. — 3 5 0 Farmers' Fertiliser 0 15 6 ■ — N.Z. Paper Mills.. ■ 1 3 0 — BREWERIES N.Z. Breweries .. 17 0 1 8 0 1 3 0 1 2 0 MINING. 6 — Waihi Grand Jnetn 0 3 6 — Electro. Zinc (pref;) 1 8 0 1 9 0 Mount Lyell .... — 0 19 3 Broken Hill Propty. 1 8 0 — Mahakipawa .... 00 li 0 0 3 8 0 1 10 i Okarito 0 8 8 0 9 0 Paddy's Point .. — 0 5 8 Golden Progress .. 0 1 6 0 2 0 King Solomon .. 0 1 11 0 2 2 Gillespie's Beach .. 0 1 3* 0 1 4* 2 0 4 6 Big River ...... 01 1 0 1 4 Mount David .., •. — 0 3 0 6 — Freshford ...... 01 61 0 1 7* GOVERNMENT LOANS. 3J p.c. Bonds, 1938 98 0 0 — 34 p.c. Bonds, 1939 98 0 0 — 3| p.c. Insc, 1938 98 0 0 — 3l p.c. Ins., 1939 98 0 0 — 4 p.c. Bonds, Jan., 0