COMMERCE AND FINANCE

Otago Daily Times, Issue 21977, 12 June 1933, Page 12

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE Okaritos were turned over on the Dunedin Stock Exchange on Saturday at 11b, this being th£ figure asked by sellers later when the shares were asked for at 10s lOd. Two parcels of Gillespie’s Beaches realised Is Bd, and a further «ale was reported at the same figure. At the close of the market there was a buyer at Is 74d and a seller «t Is Bd. Waitahus continued in demand, and business was done at 7s Bcl, further offers of 7s 7d finding sellers fit m at the former figure. Nokomais improved, and were turned over at 4s 9cl and at 4s lid. The market was slightly easier at the close, the final offer being it 6d. Donagliy’s realised. £1 19s. and Preferred Electrolytic Zincs changed hands at f 1 11s 6d. There was also business in Dominion Fertilisers at n* 9d A good demand continued tor Government loans, and 4 per cent. Stock, 1940, was sold at £IOO 10s. SALES ON ’CHANGE. f s. d. Okarito .. •• •• •• •• •• ® 2 Gillespies (two) ” 2 7 o Waitahu (four) nit Nokomai k 4 p.c. Stock, 1940 100 10 0 SALES REPORTED. Donaghy’s .. • • } 9 Electro-Zinc (pref.) .... 11 " Dominion Fertiliser *• Oil » Gillespie’s .. ; , Nokomai (two) .. .. .. .. .- 0 411 Frcshford date Fn.) .. • • 0 010 The following are Saturday’s buying and selling quotations, which are subject to the usual brokerage:— BANKING.

DIVIDENDS PAYABLE. The following ie a list of shares on which dividends will shortly be payable: £M s '<S to V,:: £Sg North °Broken Hill. "[« .• • • ■ J"“ |jj British Tobacco 3 3-od, interim ■ « oO N.Z. Breweries, 8 2-sd. final .. June National Mortgage (£2 paid), la, interim .. .. .. Jui> t

LOCAL AND OVERSEAS MARKETS.

National Mortgage (£1 paid), 6d, interim July I N.Z. and River Plate, 7 l-sd, interim J u *y * NORTHERN EXCHANGES (Per United Press Association.) The following business was done on ’Changes on Saturday;— Auckland. Sales; Mount Albert Borough (1959), 6 per cent., £99; Mount Albert Borough (I 960). 6 per cent., £99; Bank ot New Zealand (D mort.), 30s lid; National Bank of Australasia, £l2 7s Ud; E.S. and A. Bank. £5; Union Bank, £8 ss, £8 6s; Standard Insurance, 52s 3d; \ p A., 10s 2d; Taupiri Coal, los (id; Colonial Sugar. £SB ss; New Zealand Paper Mills, 275; King Solomon, Is 8d; Waihi, 22s 3d. Wellington—Sales: Bank of New Zealand (long term), 31s; Queensland Insurance, 525; Electrolytic Zinc (pref.), 325; Waihi. 22s 2d, 23s 3d (last four late Friday); Okarito, 11s 2d; New Zealand Refrigerating (cont.), 5s 6d (two parcels). SOUTHLAND MARKETS (From Ock Own Correspondent.) INVERCARGILL, June 9. GRAIN REPORT. Oats. —This market remains firm on recent rates —A grade 2s 6d, f.0.b., e.i.,8 grade 2s to 2s 2d —but in the latter little, if any, business is being transacted. A’s are still in demand, largely due to their shortage and the needs of foward sellers to secure stocks in view of their commitments. Threshing operations must before long come to a standstill, and it seems probable that prices Will hold firm until spring threshing begins in the early part of August. Duns are saleable at from 2s 2d to 2 fl 6d per bushel, f.0.b., s.i., the variation in price being accounted for by weight and condition. Ryegrass.—Deliveries from growers, are few and far between, and this is due to the fact that threshing mill owners prefer in the early part of the year to keep their machines at the one operation, oats or wheat, saving the necessity of resetting the riddling of the mills. Farmers, too, were by no means attracted with_ the prices offering, and in most cases decided to wait in the hope that the spring would ensure better prices. A certain amount of business is taking place in machinedressed seed at from 2s 6d to 2s 9d per bushel, the latter being seed in excess of 301 b weight and of good germination. Crested Dogstail has appreciated in value, the price between merchants for machine-dressed seed of bright exportable quality being in the neighbourhood of 7d per lb, darker seed down to sd, Chewings Fescue. —Stocks are getting into small compass, and with the somewhat stronger overseas demand, plus the demand from the North Island, prices have improved, and range at from 34d to 4d per lb, f.0.b., the latter price Being for exceptionally choice lines weighing 281 b and over. Heavy-weight seed this season is fairly general, weights of 241 b and 251 b being considered light. Clover Seeds.—lt is apparent • that Southland will shortly become the main centre, and quite a number of lots have been handled by local merchants who have the necessary machine for dressing. Prices range, depending on quality, from Is to Is 3d, f.0.b., for white, or 7Jd to 9d for machine-dressed cowgrass. STOCK REPORT.

The stock market continues with larger offering in the fat section and smaller yardings in store sheep and cattle sections. Fat cattle are , still offering freely, the quality of which is only fair, the bulk of the animals coming forward being unfinished and showing the effects of the recent cold wet weather. For prime, wellfinished cattle the market is firm. The fat sheep market is,well supplied, the last two sales at Lorneville being record ones, and, with northern buyers operating, values have been well maintained. The store sheep market is quiet,' with a keen inquiry for wethers and ewe lambs. The store cattle market is quiet, with small yardings. Fat Cattle.—Prime heavy bullocks, £6 10s to £7 10s; ' prime medium-weight bullocks, £5 to £6; lighter bullocks, £3 15s to £4 10s; prime heavy heifers, £4 to £5; medium heifers, £2 15s to £3 6s; prime heavy cows, £3 10s to £4 10s; medium cows,’ £3 to £3 10s; vealers, to 15s: runners, to £2 10s. Fat Sheep.—Prime heavy wethers, 17s 6d to 20s; medium-weight wethers, 14s to 15s; lighter wethers, 11s 6d to 13s; prime young heavy ewes, 12s to 14s; heavy ewes, 9s to 10s; medium ewes, 6s 6d_ to 7s 6d; lighter ewes, 4s 6d to ss; prime heavy lambs, 16e to 17s; medium lambs, 14s to 15s; lighter, 11s to 12s 6d. Stoae Sheep.—Best Romney ewe lambs, 12s 63 to 13s 6d; medium ewe lambs, 9s to 10s; smaller ewe lambs, 7s to 8s; wether lambs, 6s 6d to 8s; two-tooth wethers, 7s 6d to 9s; four-tooth wethers, 10s to 12s. Store Cattle. —Three and four-year bullocks, £3 10s to £4 10s; two-year bullocks, £2 to £2 10s; yearling bullocks, £1 5s to £1 iss. r RECORD FRUIT EXPORT THE MARLBOROUGH SEASON. (Per United Press Association.) BLENHEIM, June 10. The fruit export season just closed has been a record one for Marlborough, the total output being 73,000 cases, an increase of 12,000 cases over the previous season. In 1923 the district exported 5900 cases, but. in the two succeeding seasons it fell away again, the 1924 total being 4000 and that for 1925 2200 cases. Since 1926, however, the figures have gone up, in some years by leaps and bounds.' A total of 17,600 cases was sent away in 1926; 17,694 in 1927; 30,186 in 1928; 35,500 in 1929; 55.002 in 1930; 58,555 in 1931; 60,161 in 1932; and 72,700 this season. DAIRY PRODUCE The National Mortgage and Agency. Company, Ltd., is in receipt of the following cablegram from London:— Butter. —Market firm. New Zealand, finest, 82s, 83s; New Zealand, firsts, 81s, 82s; New Zealand, nnsalted, 84s, 86s; Danish, 88s, 90s; Australian, 78s, 80s. Cheese—Market firm. New Zealand, white. 48s, 495; New Zealand, coloured. 545, 555; Canadian, white, 645, CCs; Canadian, coloured, 665, 68s. The South Island Dairy Association, Ltd., has received the following market report from London: — . Butter. —Firm; 82s to 83s. Danish, 925. Cheese—Firm. White, ; 48s to 495; coloured, 54e. . Messrs H. L. Tapley and Co., Ltd., have received the following cabled market report from London: — Butter, 81s to S3s per cwt; market firm. Cheese— White, 49s per cwt; coloured, 54s per cwt. AMERICAN WHEAT this YEAR’S PRODUCTION, (United Press Association.) (By Electric Telegraph—Copyright.) WASHINGTON, June. 9, Basing its estimate on the condition of the crop at June 1 as 64 per cent, of normal, the United States Department of Agriculture to-day forecasted the winter wheat production this year at 341,000,000 bushels. PRICE OF SILVER (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, June 9. (Received June 10, at 5 p.m.) Silver: Spot, 19 7-16 d per oz; forward, 191 d. Kaitangata Coal further reduced: 3a per ton less for household and 2s less for nuts.—Advt.

Buyer. Seller. £ s. d. £ 6. d. v 7 .. 2 6 6 -— 9 Commercial .. •• — 6 0 15 Natl, of f N.Z. 3 15 8 0 Union ... • • • • 7 INSURANCE National ' 2 9 0 16 7 New Zealand 3 — Standard .. • • 2 11 6 . ; • SHIPPING. Huddart, Parker 1 2 (pref.) .. ... ■ • U.S.S. Co. (pref.) 3 — 1 2 0 . COAL. Kaifangat'a 1 0 0 — 0 11 3 0 12 V * LOAN AND AGENCY. Natul. Mortgage (B (issue) .. .. ... 1 0 0 6 Perpetual Trustees . 2 12 Trustees, 1 Executors 2 9 0 * Wright. Stephenson 0 9 0 ford.) .. .. • ■ •— Wright. Stephenson 0 11 (5 (pref.) .. .. •• MEAT PRESERVING Canterbury Meat .6 0 0 (ord.) .. .. N.Z. Refrigerating 0 14 15 (paid) .. .. . • • 3 0 0 N.Z. Refrigerating 6 9 (cont.) . < . • • • 0 5 0 5 South. Froz. Meat 0 0 (paid) .. ... •• 2 4 2 & South Otago Freez. 4 2 6 - MISCELLANEOUS. 6 Australian Glass 2 8 0 2 10 Broken Hill Propy. 1 13 9 — Bruce Wool, (ord.) Bruce Wool, (pref.”) 0 15 0 0 1 10 0 0 0 Crystal Ice .. .. 1 3 G 1 11 0 D.I.C. (ord.) 0 10 3 0 11 0 D.I.C. (pref.) . • 0 19 6 1 u 6 Dominion Fertiliser 0 11 6 — Dominion Fertiliser 100 0 0 (debs.) •• — Dominion Rubber 0 12 0 — Donagby’s Rope .. 1 18 6 Stock Ex, Propy. 1 15 0 0 . ■ Dunlop Ferd, Rub. 0 18 6 19 0 9 Electro-Zinc (pref.) 1 11 0 1 11 Elcctro-Zinc (ord.) 0 19 0 _ Kaiapoi W oollen * (pref.) •• 0 .7v. 0 9 Milburn Lime ... i ;7 Mosgiol Woollen •• 8 0 0 *T / M'Leod Bros. 24 0 0 .• ’ _ Moupt Lyell 1 2 0 1 2 N.Z, Drug Co, .. D 5 0 6 Farmers’ Fertiliser — U ID N.Z. Paper Mills — 1 i Smith- and Smith 0 10 c ‘ * Wilsons Cement , • I 10 0 BREWERIES N.Z. Breweries •. Til 6 ~~ Dunedin —r • 1 MINING. Kawarau .. ■ - 0 0 5 0 0 7 1 1 9 Waihi Grand Jctn. 0 3 10 Kildare 0 2 1 0 0 Okarito • • • • • • 0 10 10 0 11 0 9 Paddy’s Point ... — 0 Cornish Point 0 0 2 9 Golden Progress .. 0 1 4 o 1 Blackwatcr . • . 1 2 6 8 8 Gillespie's Beacb .. 0 1 7i 0 0 1 Waitahu 0 7 7 7 Golden Sands .... 0 3 3 0 0 6 9 Big River .. .. •• Noliomai .. .. •• 0 4 6 4 Freshford .. • > 0 0 9 0 Central Shotover . . Lawson’s Flat .. 0 0 9J 0 1 5 0 1

government loans. 31 p.e. Ins., 19381943 100 0 0 —■ 3J p.c. Ins., 19381952 100 0 0 — - 31 p.c. Ins., 19391943 .. .. ..loo o 0 — 31 p.c. Ins., 1939- • 1952 10° 0 0 — 31 p.c. Ins., 1941"1943 .. .. • •• 1°° 0 0 — 51 p.c. Ins., 1941"1952 iv ...... 100 0 0 — 4 p.c. Bonds, Jan., 1940 100 10 O' — 4 p.c. Bonds, Feb., 1946 ..... ,...10° 10 0 — 4 p.c. Ine., Feb., 1946 • 100 5 0 100 15 0 4 p.c. Bonds, April, 1949 ... •• •• ;• I 00 10 0 — 4 p.c. Ins., April, 1949 ........ 10° 0 0 100 15 0 4 p.c. Bonds, June, — 1955 ...••••• 100 0 0 — 4 p.c. Ins., June, $55 WO .6 0 100 15 0