COMMERCE AND FINANCE

Otago Daily Times, Issue 21981, 16 June 1933, Page 6

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE A. parcel of contributing New Zealand Refrigeratings changed hands on the Dunedin Stock Exchange yesterday at 6s 3d, further offers of 6s 2d finding sellers firm at Cs sd. Dominion Fertilisers were turned over at 12s, and there was an unsupplied buyer later at lie 9d. Business was done in Milburn Limes at tl. 8s 6d, the closing offer being 6d below that figure. After business at £1 Ida in New Zealand Breweries, the shares are now wanted at £1 12s 9d, with no seller in the market. Waitahus were somewhat weaker, the best 7s. Sellers were asking 7s sd. There was a good demand for Government IjoanS ' SALE ON ’CHANGE. f s. d. N.Z. Refrigerating (cont.) ..063 SALES REPORTED. Dominion Fertiliser 0 12 0 Milburn Lime 1 » ” N.Z. Breweries 1 u UNLISTED STOCK. National Tobacco .. • • • • 219 0 The following are yesterday afternoon’s buying and selling quotations, which are subject to the usual brokerage:— BANKING. Buyer. Seller. t s. d. £ s. d. N.S.W, 31 0 0 New Zealand .. —2 7 9 N.Z. (long D) .. - 1 11 3 Commercial .. 0 15 9 “ E.S. and A. .. Natl, of N.Z. .. 3 15 0 Natl, of A’asia. .. 12 6 0 Union 8 7 0 . INSURANCE. National .... 016 6 South British .. 3 5 0 —* Standard .... 212 0 SHIPPING. Huddart, Parker (prof.) .... 12 3 U.S.S.Co. (pref.) 12 3 COAL. Kaitangata .. 10 3 Westport .... 0119 LOAN AND AGENCY. Dalgety and Co. 8 8 0 Goldsbrough, Mort 16 3 Natl. Mortgage .. 1 17 0 ■ Natl. Mortgage (B issue) .. ..116 N.Z. Guarantee Corp. .. • • 0 511 Wright, Stephenson (ord.) ' .. 0 10 3 Wright, Stephenson (pref.) .. 011 6 MEAT PRESERVING. N.Z. Refrigerating (paid) .. .. 014 9 N.Z. Refrigerating (cont.) .. 0 6 2 0 6 5 South. Froz. Meat „ „ (paid) .. .. 2 4 6 2 6 3 South Otago Frzg. 4 2 6 MISCELLANEOUS. Australian Glass 2 7 3 2 10 0 Broken Hill South —2 15 6 Bruce Woollen (ord.) .... D.I.C. (ord.) .. 010 3 011 0 D.I.C. (pref.) .. 10 0 - Dominion , Fertiliser .. • • • • 011 9 Dominion Fertiliser (Debs.) .. 100 0 0 Dominion Rubber 014 0 Stock Exchange Proprietary .. 115 0 Dunlop Perdriau •Rubber 0 18 2 0 18 10 Electrolytic Zinc (pref.) .. .. 111 3 Electrolytic Zinc (ord.) .... 019 6 103 Milburn Lime .. 18 0 Mosgiel Woollen 8 0 0 M‘Leod Bros. .. 24 0 0 N.Z. Drug Co. .. N.Z. Paper Mills North Broken Hill Smith and Smith 0 10 r 6 Wilsons Cement .. 110 9 N.Z. Newspapers 15 0 BREWERIES. N.Z. Breweries .. 1 12 9 Dunedin .... Tooths .. .. 116 6 118 0 . MINING. Kawarau .... 0 0 5 Waihi 12 0 Waihi Grand Jctn. 0 3 2 Mahakipawa .. 0 0 1 0 0 3 Kildare .... 0 2 1 0 2 5 Okarito .. .. 010 10 011 1 Paddy's Point .. 0 5 8 Cornish Point .. 0 0 1 0 0 3 Golden Progress .. King Solomon ~016 Golden Point .. 0 0 24 Blackwater .... 133 140 Alexander .... 0 10 0 Gillespie's Beach 0 17 0 18 Waitahu .... 0 7 1 0 7 5 Golden Sands ..**o 3 3 Big River .. 0 16 Nokonmi .. .. 0 4 6 0 4 9 Fresh' I 0 11 0 1. 24 Cent, Shotover 0 OIT 0 10 Golem; (6d pd.) 0 0 9 ' GOVERNMENT LOANS. 34 p.c. Ins., 19381943 100 0 0 34 p.c. Ins., 1938“1952 100 0 0 34 p.c. Ins., 19391943'- 100 0 0 34 p.c. Ins., 1939"1952 100 0 0 34 p.c. Ins., 19411943 100 0 0 34 p.c. Ins., 19411952 .. .... 100 0 0 \ p.c. Bonds, Jan., 1940 100 10 0 4 p.c. Ins., Jan., 1940 4 p.c. Ins., Feb., 1946 ~ 100 10 0 4 p.c. Ins., April, 1949 4 p.c. Ins., June, 1955 , - 100 10 0 ** Ex dividend. DIVIDENDS PAYABLE. The following is a list of shares on which dividends will shortly be payable; — Okarito, 6d. fourth .. .. .. dune 16 Australian Glass, Is 2 2-sd, final June 22 Broken Hill South, Is •• •• June 23 Bank of N.Z., Is. final .. .. June 24 North Broken Hill, Is ‘ . .. June 29 Goldsbrough, Mort, 6d. final .. June 29 British Tobacco, 3 3-sd, interim June 30 N.Z. Breweries, 8 2-sd, final .. July National Mortgage (£2 paid), Is, interim July 1

LOCAL AND OVERSEAS MARKETS.

National Mortgage (£1 paid), 6d, interim July 1 N.Z. and River Plate, 7 l-sd, interim July 1 NORTHERN EXCHANGES \ (Per United Press Association.) The following business was done on ’Changes yesterday:— Auckland. —Sales: Commercial Bank Australia, 15s ltd (two parcels); Bank New South Wales, £32 3s; Bank New Zealand, 47s 9d, 47s 6d; do (D pref.), 31s (two parcels); New Zealand insurance, 4Ds (id; South British, 68s; Goldsbrough Mort, 26s 9d, 20s 7Jd; Renown Collieries (pref.), Cd; do (new pref.), Gd; Auckland Gas, 23s 3d; New Zealand Breweries, 32s 9d, 335; Commercial Bank, 4q 3d; New Zealand Paper-Mills, 275; Gillespie’s Beach, Is 7Jd; Golconda, 9d, 9Jd; Mount Lyell, 22s 4jd. Unofficial: Bell Hooper, Is 2d. Wellington.—Sales: Inscribed Stock, 4 per cent. (1955), £IOO 10s; National Insurance, 16s lOd; Queensland Insurance', 52s 3d; New Zealand Refrigerating (eontr.), 6 S 3d; New Zealand Breweries, 32s 6d (three parcels), 32s 7Jd, 32 s 9d, 32s lOd; Central Shotover, Hid (all late Wednesday)*; Bank of New Zealand (cum div.), 47s 6d (two parcels); do (long term), 31s (three parcels); Union Bank, £8 8s; Tooths Brewery, 37s 9d; Blackwater, 23s 7d; Mount Lyell, 22s 4d, 22s 4Jd; Waihi, 22s 4d (two parcels). « "Christchurch. —Sales: 4 per cent. Inscribed (1940), £IOO 10s; 4 her cent. Inscribed (1949), £IOO ss; New Zealand Refrigerating, 64 per cent. (1935), £100; Commercial Bank of Australia, 16s 13d; Commercial Bank of Sydney, £l6 18s (seven parcels); National Bank of New Zealand, £3 16s 6d (two parcels); Bank of New South Wales, £32; Bank of New Zealand (“ D ” mart, shares, cum div.), 31s 3d; Goldsbrough Mort, 26s 6d (two parcels); New Zealand Refrigerating (£1 paid), 15 g (two parcels); New Zealand Refrigerating (10e paid), 6a 3d (three parcels), 6s 2d (three parcels), 6s Id (two parcels);. New Zealand Breweries (cum div.), 33s (six parcels) j Mount Lyell, 22s sd; Woolworths (Sydney), pref., now, £1; paid, 25s sd; Big River, Is 6d; Blackwatcr, 23s 7d (two parcels); Gillespie’s Beach (9d paid), Is Id (two parcels); King Solomon, Is 6d; Lawson’s Flat (Is paid), Is 8d; Waihi, 22s 3d; Waitahu (4s 6d paid), 7s sd, 7s 4d; Christchurch Gas, 26s 9d. bales reported: New Zealand Government 3J per cent. Inscribed (1938-52), £100; Goldsbrough Mort, 26s 9d, 26g lid, 20s 9d; New Zealand Breweries (cum div.), 33s Id, Unlisted: Bel] Hooper, Is 2d (six parcels).

AUSTRALIAN STOCK EXCHANGES (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, June 15. (Received June 15, at 8 p.m.) On the Stock Exchange there was brisk trading covering a wide range of issues, gilt-edged securities figuring largely in the turnover. Goldsbrough, Mort had a good forward move. Sales.—Bank of New South Wales, £32; Commercial Bank of Sydney, £l7; National Bank (£5 paid), £6 10s; Union Bank, £8 12s 6d; Dalgetys, £9 10s; Australian Gas (A). £7 4s, Colonial Sugar, £57 15s; Associated News, 9s 3d; Dunlop Perdriau, 18s 9d; Dunlop Perdriau (pref.), 33s lOld; Goldsbrough, Mort, 27s 3d; Australian Iron and Steel (pref.), 14s 3d; Standard Cement, 13s 8d; Amalgamated Wireless (cont.), 23s 6d; Berlei (cont.), 13s 9d; Electrolytic Zinc, 20s 2d; Electrolytic Zinc (pref.). 32s 3d; Morris, Hedstrom, 17s Cd; Greater J. D. Williams, 6s 7d; Wincheombe, Carson, 26g 3d; Toohey’s, 235; Broken Hill Proprietary, 345; South Broken Hill, 555; North Broken Hill, 81s 9d; 4 per cent. Commonwealth Bonds, 1938, £lO2 7s 6d; 1941, £lO3 3s 9d; 1944, £lO3 3s 9d; 1947, £lO2 17s 6d; 1950, £lO3 10s; 1953, £lO4 10s; 1955, £lO2 2s 6d (ex interest); 1957, £lO3 3s 9d; 1959, £lO3 ss; 1961, £lO3 7s 6d. SYDNEY, June 15.

Morning sales: —4 per cent. Bonds, 1938 (ax interest), £lO2 18s 9d; 1941, £103; 1953, £104; 1955 (ex interest), £lO2 2s 6d: 1961, £lO2 8s Od. Commercial Bank of Sydney, £l6 18s; Bank of New South Wales, £32; Toohey’s, 235; Associated News, 9s 4d; Colonial Sugar, £57 15s; Dalgetys, £9 10s; Dunlop Perdriau, 18s 9d; Goldsbrough, Mort, 26s 9d; Winchcombe, Carson, 26s 3d; Wilcox, Moiflin, Bs. . MELBOURNE, June 15. (Received June 15, at 8 p.m.) Sales:—National Bank (£5 paid), £6 12s; Commercial Bank of Australia, 16s 6d; Goldsbrough, Mort, 275; Electrolytic Zinc (pref.), 325; Taranaki Oil, 2s 6d. DAIRY PRODUCE The New Zealand Loan and Mercantile Agency Company, Ltd., has received the following cabled advice from its Loudon house, dated June 14:— Butter, 82s (the market is slow),; Danish, 925. Cheese, unchanged. The market is slow. NORTHERN ROLLER MILLS SILO BLOCK EXTENSION, To finance the construction of a new silo block on freehold premises in Fort street, the directors of the Northern Roller Milling Company, Ltd., have decided to issue 25,000 ordinary shares at £1 Bs. The shares are first being offered to shareholders and the remainder of the issue will be offered to the public from July 17 onward. The works contemplated by the company entail large structural additions and the erection of a number of bins or containers for the storage, conditioning and handling of wheat. The capital outlay involves about £35,000. The premium of Ss each on the shares makes the dividend of 7 per cent, on the company’s capital, which, the directors claim, is reasonably expected, a 5 per cent, investment on shares bought for £1 8s each. The paid-up capital of the company is £275.000. GRADING OF PIGS REGULATIONS FOR NORTH ISLAND. (Per United Press Association.) WELLINGTON, June 15. In a Gazette notice to-night regulations are issued for the grading of all pigs slaughtered in meat export slaughterhouses and bacon curing works in the North Island by grading officers approved of by the Department of Agriculture in co-operation with the New Zealand Meat Producers’ Board. The regulations will come into force as from July 1 next. EXPORT CERTIFICATES ONE BURDEN REMOVED. Advice has been received from London by the secretary of the Canterbury Chamber of Commerce that the British Customs authorities have withdrawn their demand for separate certificates of origin for containers of goods exported to England, presumably as the result of pressure from importers of Empire products. It was reported on Saturday (says the Press) that investigations were being mad#by the Exporters’ Committee of the chamber into the multiplicity of trade certificates which were being demanded from New Zealand exporters by the Governments of the world, with the object of making a strong protest against such hindrances to trade. It was explained then that the latest certificate to be demanded was a certificate of origin covering the container in which goods were exported to Great Britain from New Zealand. If the value of the container was less than 50 per cent. Imperial a duty of 10 j pec cent, was charged on a value arbi- | trarily assessed by the British Customs Department.

FOREIGN EXCHANGES (British Official Wireless.) (United Press Association.) (By Electric Telegraph—Copyright.) RUGBY, June 14. (Received Juno 15, at 5.5 p.tn.) Paris— Par. June 13. June 14. Francs to £ 1 .. 124.21 S 6 1-16 86 Brussels —

LONDON METAL MARKET (United Press Association.) (By Electric Telegraph—Copyright.) LONDON. June 14. (Received June 18, it 8 p.m.) The following: are the official quotations:—

TALLOW SALES ' (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, June 14. At the tallow sales 1017 casks were offered and 316 were sold. Mutton was unchanged. Other sorts advanced 6d to Is. Quotations: Mutton —tine 24s 3d, medium, 19s. Beef —fine 22s 6d, medium 19s. LEAD SUPPLIES (United Press Association,) (By Electric Telegraph—Copyright.) LONDON, June 14. Lead: Imports, 30,405 tons (Australian 19,682); exports. 1433. AUSTRALIAN MARKETS (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, June 15. (Received June 15, at 8.45 p.m.) Wheat: Sidings, 2s sijd per bushel; silo, 2e 6Jd; bagged, equal to 3s IJd to 3s Ud, ex trucks, Sydney. Flour, £lO 5s per ton. Bran and pollard, £5 per ton. Potatoes: Tasmanian, £7 lOsvper ton; Victorian, £6 10s. Onions: Victorian brown Spanish, £5 10s per ton; Globes, £4 10s. Maize: Yellow and white, 4s 4d per bushel. ADELAIDE, June 15. (Received June 15, at 8.45 p.m.) Wheat: Growers’ lots, 2s lid per bushel. Flour: Bakers’ lots, £8 12s 6d per ton. Bran and pollard, £5 2s 6d per ton. Oats, Is 9d per bushel. SYDNEY WOOL SALES (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, June 15. (Received June 15, at 8.45 p.m.) At the wool sales 8309 bales were offered and 7775 were sold. Private sales amounted to 3484 bales. The market closed extremely firm. Prices were in sellers’ favour at the best point of the series. Greasy merino made 16,?d. The average price for the first three days of this week was £l2 10s 8d per bale, or 9.lid per lb. The auctions have now ceased until August 28. COMMODITY PRICES UPWARD TREND MAINTAINED. Although the movement has slackened in one or two instances, the upward trend in the world’s commodity prices has continued during the last few weeks. Only in one instance, that of cotton, are current prices below those ruling a month ago, while in the case of some metals, particularly tin, increased headway has been made. For the last few weeks butter and cheese values, in which New Zealand is particularly interested, have remained fairly steady, with fluctuations in favour of sellers. The following table compares present prices with those ruling j a month ago:— • I

Belgas to £1 .. Oslo— 33 24.224 24.224 Kroner to £1 .. Stockholm— 18.189 19.80 19.75 Kroner to £1 .. Copenhagen— 18.150 19.42J 19.424 Kroner to £1 .. Berlin— 18.150 22.424 22.42} Marks to £1 .. Montreal— 20.43 14 13-32 14 11-32 Dollars to £1 New York— 4.8C 2-3 4.594 4.564 Dollars to £ 1 .. Yokohama— 4.86 2-3 4.14J 4.10 Ponce to yen Hongkong— 24.582 15% 154 Pence to dollars Bombay— 24.58 17 3-10 17 1-16 Pence to rupee Batavia— — ' 18 5-04 18 5-64 Florins to £1 ililan— 12.10 — — Lire to £1 Amsterdam— 82.46 65 64 15-16 Guilder to £1 Prague— 12.107 8.424 8.424 Kroner to £1 .. Geneva1044 113% 113% Francs to £1 Vienna — 25.22J 17.53 17.53 Schillings to £1 Helsingfors— 84.864 31 81 Marks to £1 .. Madrid — 193.23 2264 2264 Pesetas to £ 1 Belgrade— 25.234 39 9-32 39 11-16 Dinars to £1 .. Athens— 25.22J 250 250 Drachma to fil Lisbon— 375 500 590 Escudos to £1 Bucharest — 110 no no Lei to fil .. Rio de Janeiro— 931.8 570 670 Pence to mllrels Buenos Aires— 5.890 4 18-16 4% Pence to pesos Shanghai— 47.28 ' HI 41! Pence to tael .. Montevideo — — 15 7-16 15 5-16 Pence do peso* Warsaw— — 34 84 Zlotys to £1 .. — — —

Copper, trot .. .. Ton. £35 18 0 rail £0 7 6 Copper, forward .. 36 3 9 rail 0 6 3 electrolytic, spot .. 40 10 0 No change Electrolytic, forward .. 41 10 0 No change Wire bars .. 41 10 0 No change Lead, spot ., .. 13 3 0 Fall 0 3 9 Lead, forward .. 13 10 0 Pall 0 3 9 Spelter, spot .. .. 16 13 9 Fall 0 3 9 Spelter, forward ., 16 13 9 Pall 0 3 9 Tin, spot 221 17 0 Fall 2 6 0 Tin, forward .. .. 221 17 0 Fall 2 5 0 Silver, standard .. Oz. 10 7-lGd No change Silver, flne .. .. 21d No change

Present A month N.Z. Butter— £ price. 3. cl. £ ago. s. d. Per cwt .. .. 4 o 6 3 12 6 N.Z. Cheese— White, per cwt .. 2 9 0 2 1 6 Coloured, per cwt 2 14 6 2 7 0 Bradford Tops (per 50's 1b)0 0 134 0 0 12 46's 0 0 10 0 0 9 40's 0 0 9 0 0 S4 Cotton (per lb) .. 0 0 6.12 0 0 6.19 Rubber, plantation (per lb) 0 0 34 0 0 2 31-32 Jute (per ton) n 18 9 17 6 Copra (per ton) .. ii 7 G 10 7 6 Copper, standard, spot (per ton) . .. 37 6 3 34 18 9 Lead, soft spot (per ton) 13 10 0 12 8 9 Spelter, spot (per ton) 16 17 6 15 10 0 Tin, spot (per ton) 227 7 6 187 13 9 Wheat, spot (per quarter) . • • • 1 7 0 1 7 0