COMMERCE AND FINANCE

Otago Daily Times, Issue 21990, 27 June 1933, Page 5

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS.

THE SHARE MARKET DUNEDIN STOCK EXCHANGE There was an unaupplied buyer of Bank of New Zealands on the Dunedin Stock Exchange yesterday at £2 6s 6d. Union Banks were wanted at £8 9a, but sellers ivere unwilling to do business at less than £8 11 9 «d. Up to. £2 6s 6d was offered for Australian Glass shares without attracting a seller. Okantos firmed slightly, the offer being 10s. Sellers, however, were asking 3d more. A late sale on Saturday of Mahakrpawaa at lid was reported, and these shares were inquired for at the same figure. Sellers quotation, however, was. firm at 21d..N oleoma :s were turned over at 4«, further offers of Id less failing to meet with a better seller's quotation than 4s 2d. lnree parcels of Central Shotovers were sold at 1» Id, which is the figure now being asked. The shares are wanted at Is o*d. ■1 ' SALES REPORTED.

DIVIDENDS PAYABLE. The following is a list of shares on which dividends will shortly be payable:— North Broken Hill. Is .. .. June 29 Goldsbrough, Mort.. 6d, final .. June 29 British Tobacco, 3 3-sd. interim June 30 Blackwater, Is 6d, final .. .. June 30 Consol. Goldfields, 9d, interim June 30 N.Z. Breweries 8 2-sd, final .. July National Mortgage (£2 paid), Is, interim July 1 National Mortgage (£1 paid), fid' interim .. .. .. .. .. July 1 N.Z. and River Plate, 7 l-sd, interim .. J n fr ? -NORTHERN EXCHANGES (Peb United Press Association.)

The following business wag done on 'Changes yesterday:— . Auckland—Sales: Stock (1940), 4 per cent.. £IOO 10s; Bank of New Zealand, 47s 6d (five parcels); New Zealand Insurance, 50s, 49s 10§d; Queensland' Insurance. 52s 6d; New Zealand Loan and Mercantile, £3B; British Tobacco, 34s 6d; Bycroft, Ltd., 375; Wilsons Cement, 32s 9d; Alexander, 15s 6d; Blackwater, 23s pd..—-Unofficial: Weres (5s paid), 4s 6d; Bell, Hooper, Is OJd.

Wellington.—Sales: Inscribed Stock 4 per cent. (1946), £IOO 10s; Bank of New Zealand, (ex div.), 48s; New Zealand Breweries (cum div.), 33s 10d. Christchurch.—Sales: New Zealand Government 4 per cent. Inscribed (1955), £IOO 12s 6d (two parcels); Commercial Bank of Sydney, £l7 (two parcels), £l7 0s 6d; E.S. and A. Bank, £5; National Bank of New Zealand, (cum div.), £3 J7s 9d; Bank of New Zealand, 47s 7d; National Insurance, 16 s lid; Dalgety and Co., £9 7s; Goldsbrough, Mort. (cum div.), 26s lOd (two parcels); United Building Society, 17s 3d; New Zealand Refrigerating (10s paid). 5s lOd (three parcels); New Zealand Breweries (cum div.), 345; Timaru Breweries (7s 6d paid), 3s lOd; Mount Lyell, 22s 2d (three parcels), 22s Id; Alexander (cont.), 15s lid (three parcels), 16s (two parcels), 16s 9d; Big River, la 5d (three parcels); Blackwater (cum div.), 23s 6d, 23s lid, 24s (four parcels); Nokomai, 4s (five percels), 3s lid, 3s 9id; Okarito, 10s 2d, 10a 3d; Waihi, 21s lid. Sales re-ported-New Zealand Government 3£ per cent. Inscribed (1938-43), £IOO (two parcels). ' /___ GRAIN AND PRODUCE MARKET Messrs Donald Reid,and Co., Ltd., report as follows: . Wheat.—Offerings of milling wheat have ceased in the meantime. There may still be odd lines to thresh in the spring. Fixed rates for the present month are as follows:—Tuscan 3e 6d, Hunters 3s Bd, Velvet 3s lOd, sacks extra, f.0.b., main ports Fowl wheat is continually selling, and values are firm at late quotations. Merchants are selling ex store at prices ranging from 3s 3d to 3s 9d per bushel, sacks extra. .... .■.• f- \t Potatoes.-7-Crops in this portion ot Otairo have not yielded the quantity expected. Most of the principal growers have disposed of their lines. Only odd trucks are offering. It u now •* l *"W that local merchants, will have to rely on Canterbury and Southland growers to supply the later season demand. l*ooci, sound lines have been selling at prices up to £4, sacks in, ex store, Dunedin.; Oats.—The week closed with this market easier. There are few samples offering, but to offset this there is practically no inquiry from the north. Merchant's will only offer for grade oats, and nominal values are as follows:—A. grade Is Bd, this for extra heavy lines; B grade, Is 4d, sacks extra on truck country stations. ... ~ ' \ Chaff.—ln common with the oats market this produce has also eased in value. The bright weather has allowed farmers in some favoured districts to get some cutting.done, and the market is now well supplied again. The bulk of the consignments are from and the best lines are realising up to £3 15s per ton, ex truck, or up to £4 ss, ex store, sacks extra in each case. NATIONAL BANK OF NEW ZEALAND DIVIDEND OF 4 PER CENT. (Pee United Press Association.) WELLINGTON, June 26. Cabled advice has been received from London by the National Bank pf New Zealand that the net profit for the year ended March '3l, after providing for bad and doubtful debts, amounted to £116,449, which, with £142,293 brought forward from the previous year, leaves available for distribution £258.742. It is proposed to allocate this a s follows:—Payment of dividend; 4 per cent, per annum, tax free, £80,000; Pension and Gratuity Funds, fljLQpO; exchange contingent account, £40,000; premises account, £10,000; carried forward, £114,742. • PRICE OF SILVER (British ■Official. Wireless.) ('United Press Association , (By Electric Telegraph—Copyright.) RUGBY, June 24. \ Silver is quoted: Spot, 18 7-16 d per ounce; forward, 18 9-16 d. FOREIGN EXCH/NGES (Britlsb Official Wireless.) (United Press Association.) | (By Electric Telegraph—Copyright.)

GOLDFIELDS DREDGING COMPANY, LTD. The Golden Terrace dredge has been acquired by the Goldfields Dredging Complny, Ltd., and is at present working towards Big Beach. The returns for. the past four weeks have been as follows: — Week ended June 2,350 z 14dwt; June 9, 470 z 16dwt: June .16, 50oz;- June 23 (five days' dredging), 42oz;—total, 1750 z lOdwt. Scott Bros., produce merchants and commission agents, agents for "The Dunedin Egg Suppliers' Association,' report: Eggs: Preserved eggs, Is Id to la 2d; poultry farmers, Is 5d per dozen. Butter: Dairy pats, 7£d to 8d per lb. Honey: Bulk, to 3Jd per lb; 101 b tins, 3s 3d to 3s 9d; 51b tins, 2s 6d each. Fat; Nominally, 8s to 9s per cwt. Poultry: Hens, la 2d to Is 4d each; young roosters, 2s to 3s each; ducks. Is 3d to Is 6d; geese, 3s to 4s 6d each. Turkeys: Hens, 8d per lb; gobblers, 9d per lb. Pigs: Prime baconers, 4d to 4£d per lb; porkers, 4d to 4£d per lb. Potatoes, £4 to £4 10a per ton, ex truck. Chaff: Prime oaten sheaf, £4 to £4 5s per ton, bags extra, ex store. Carrots for poisoning, £3 0.t., Christchurch district. Table carrots, 5s 6d per cwt. Parsnips, 6s 6d per cwt. Canterbury onions, 6s 6d per cwt; Brown Spanish, £7. Partridge peas. 5 B per bushel, sacks extra. Whole fowl wheat, 3s 9d to 4s, sacks extra. Clover and ryegrass hay, £4 15s, ex store. Lucerne hay, £5 10s to £6 per ton, ex store. Oats: Gartons, la 9d; Sparrowbills, 2s per bushel, sacks extra, ex store. Pressed wheaten straw, £3 ss; oaten, £3 10s, ex store. Peed barley, 2s 6d to 2s 9d per bushel. Farro food, £6, ex store. Victory feeding meal, 9s per cwt. June 26, 1933.

MINING OKARITO RETURN. Messrs W. A. Mitsou and Co., secretaries of the Okarito Five Mile Beach Gold Dredging Company, Ltd., report that the wash-up for the week ended June 24 was 920Z8 14dwts for }2O hours' dredging. FOUR-WEEKLY REPORT. The following report relates to the four weekß from May 21 to June 17:— Total gold won, 5170 z ,3dwts; total time worked, 492 hours; total non-work-ing time, 84 hours; total yardage treated, 32,200 (an average of 67 cubic yards per hour); average value of ground (on basis of gold worth £4 per ounce), 15d per cubic yard. . BELL-KILGOUR COMPANY. The formation of the Bell-Kilgour Gold Mining Company was accomplished last week and the company went to allotment at the week-end, approximately 570,000 shares being made available. The shares, of a nominal value of Is each, were allotted at 6d each, the remaining 6d being payable in two calls of 3d per share each. The capital of the company is set down at £35,000, and the remaining shares have been set aside in the proportion of 20,000 to Messrs Bell and Kilgour, who also receive £16,000 in cash for {he claim, and 110,000 to Mr J. A. Roche, company promoter,. who receives in addition the sum of £2OOO in cash. When the company went to allotment it was found that the capital was oversubscribed to the extent of £15,000. The company's engineer (Mr Robert Lee) went to Cromwell on Saturday for the purpose of taking over from Messrs Bell and Kilgour. Preliminary work will be commenced immediately and it is expected that- mining will be started in earnest very shortly. • WAIHI GRAND JUNCTION. (Special to Daily Times!) \ AUCKLAND, June 26. A total of 25,475 tons of ore was treated on behalf of the Waihi Grand Junction Gold Company, Ltd., for the year ended December 31, 1932, according to the report of the directors. The return waß £12,664, compared with £11,397 received in the previous year from the crushing of 26,496 tons of ore. The net profit for, the year was £12,211, an increase of £368. Provision for income tax (£1710) and dividend equalisation account (£3500) was made from the total amount available, £15,149, and a dividend of 4d a share absorbed £6906, leaving £3033 to be carried forward. AUSTRALIAN EXCHANGES (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, June 26. (Received June 26, at 9 p.m.) The Stock Exchange market is strong, and sellers are rather difficult to locate. The turnover to-day was restricted. ..','■ The following sales were made: — r. Bank of New South Wales, £3l 15s; Commercial Bank of Sydney, : £l7 : 3s; National Bank (£5 paid), £6 ss; Union Bank (New Zealand delivery); £8 15s; Mercantile Mutual Insurance, 18s 9d; Associated News, Bs'lod (pref., 19s 3d).; Australian Gas (A), £7 3s 6d; do(B), £7 4s; Australian Glass, 49 a 3d; Dunlop Perdriau, 18s 7Jd; Goldsbrough, 275; Henry Jones, 38s 6d; Meggitts, 19s 6d; Howard Smith, 10s; Adelaide Steam, 225; Wilcox Mofflin, 7 8 7d; Standard Cement, 13s 9d; United Provisions, 8s 2d; Mount Lyell, 225; Broken Hill Proprietary, 34s 4sd; South Broken Hill, 565. Commonwealth Bonds—4 per cents., 1938, £lO2 6s 10id; 1941, £lO3 6s 3d; 1944, £lO3 10s; 1947, £104; 1950, £lO4 ss; 1953, £lO4 12s 6d; 1955, £lO3 10s; 1957, £lO3 16s 3d; 1961, £lO3 17s 6d.

1 oaiJixo jlv Mabakipawa (late Saturdi *) £ s. 0 0 d. li Nokomai .. .. .. 0 4 0 Central' Shotover (three) The following are yesterd iy a 0 1 ftertux 1 >n's buying and selling quotations, ' subject to the usual brokerage:which ate BANKING. Buyer. Seller. £ S. d.. 1 i. ' d. New Zealand 2 6 6 — Commercial ... 0 16 0 0 16 6 E.S. and A. ... •• 3 17 0 —: 8 9 0 8 ill 6 INSURANCE. National .. . — 0 17 1 New Zealand 2 9 3 — Standard .. 2 12 0 — SHIPPING. ';. , Huddart, Parker (pref.) .. ,.. 1 2 3 ;-**'■ U.S.S. Co. (pref.) 1 2 3 «■-■ COAL. Kaitangata .. Wcstport .. • • 1 0 0 12 3 3 0 13 0 v LOAN AND AGENCY Goldsbrough, Mort National Mortgage 1 6 0 1 7 2 3 0 3 2 1 0 National Mortgage (B issue) .. •• 1 1 0 ■'" — \ Perpetual- Trustees , 2 10 0 ■ "~~ Trustees, Executors 2 11 0 _ Wright, Stephenson (ord.) ,0 10 3 - " — Wright. Stephenson (pref.) .. • ■ 0 12 6 ■~"~" MEAT PRESERVING •• N.Z. Refrig.. (pd.) 0 14 6 ol 0 N.Z. Refrig. (cont.) 0 5111 South Otago Freez. 4 6 * u . MISCELLAKE01 US. 6 _ Australian Glass .. 2 6 British Tobacco .. '.i — 1 15 0 Broken Hill Propy. Bruce Woollen 1 13 0 ~ (ord.) — 0 10 0 Bruce Woollen (pref.) .. .Vi; — 11 0 D.I.C. (pref.) -.. 0 19 6 ~ ,— ~ » Dominion Fertiliser 0 13 0 — Dominion Fertiliser \ ■ (debs.) .... 100 ,0 0 — Dominon Rubber 0 14 0 0 17 6 Stock ': Exchange P-.-cpy. .. • :.'•■ 2 0 0 — Milburn Lime 1 8 3 — Mosjdel Woollen .. 8 2 6 —- M'Leod Bros. 24 0 0 — Natl. Electric — 0 7 6 N.Z. Drug.Co. ,.. 3 3 6 3 5 0 F---MV—S' Fertiliser — 0 16 6 N.Z. Paper Mills .. 16 0 1 '7. 0 !S;nith and Smith .. 0 10 9 .__ Wi-son's Ceinent .. 1 12 3 N.Z. Newspapers .. 1 5 6 1 8 0 BREWERIES N.Z. Breweries .. — 1 14 6 ; -1 6 6 . ! 1 16 3 1 17 6 "MINING. Kaviirau '•'•'. .'.-".-.' 0 0 S 0 0 7 Waihi .. ... .. 1 1 6 —-. Waihi Grand Jctn.' 0 3 1 -— : ' - Mahakipawa ■•'■-. ... 0 0 li 0 0 2J Kildare ' .. • • 0 2 0 0 2 5 OkarUo \ .. .. 0 10 0 0 10 3 Cornish Point o.o 2} — Golden Progress .. — o 1 9 King Solomon - 0 1 10 — Blackwater 1,3 0 ' -— ■Alexander .. '..-.,' 0 15 3 0 16 3 Gillespie's Beach .. ■ — 0 1 7 Waifn.hu ... .. 0 6 11 0 7 3 Big River .. ,.. —' 0 1 5J Mount David — 0 2 0 V Nokomai 0 3 11 0 4 2 Freshford ' .. 0 !„ 0 0 1 2 Laweon.'s Flat — \ I 0 1 7 Central Shotoyer 0 1 oj0 1 1 ' GOVERNMENT LOANS. 3£ p.c. Ins., 1938- / 1943 ..' ... .. 100 0 0 —— 3J r>.c. Ins., 1938"1952. .. .. .. 100 0 0 ■ —. 31 p.c. Ins., 19391943 .. .. ... 100 0 0 -— 3J p.c. Ins.,- 19391952 .. .... too b 0 — 3J p.c. Ins., 1941100 0 0 —— , 3J p.c Ins., 1941100 0 0 — « 4 p.c. Bonds, January. 1940 .. .. 100 10 0 — 4 p.c. Ins., January, 1940 .. .. .. 100 10 0 ■ — 4 p.c. Ins., February, 1946 .. 100 5 0 101 0 0 4 pc. Bonds, April, f ■ '.' 1949 100 5 0 — 4 p.c. Ins., April, 1949 .. .... 100, 5 0 100 15 0 4 r>.c. Ins., June, ( ■— 100 15 0

RUGBY, June 24. Paris — Par. June 22. / June 24. Francs to £1 .. 124.21 86 3-16 86% Brussels— Belgas to £ 1 35 24.261 24.33} Oslo — Kroner to £1 .. 18.189 19.80 19.90 Stockholm— Kroner to £1 .. 18.150 19.45 19.441 Copenhagen— Kroner to £ 1 .. 18.150 22.45 22.421 BerlinMarks to £1 ... 20.43 14.28 14.291 MontrealDollars to £1 .. 4,86 2-3 4.66 4.68 New York— Dollars to £1 .. 4.86 2-3 4.233 4.22 Yokohama— , Pence to yen 24.582 15% 15 3-32 HongkongPence to dollars 24.58 ' 16 15-16 16% BombayPence to rupee — 1 18 5-64 18 5-32 -BataVia— Florins to £1 12.10 — — p Milan— Lire to £1 .. 82.40 64 11-16 64 11-16 AmsterdamGuilder to £1 12.107 8.441 8.47 Prague— Kroner to £1 .. 1041 114 114% Geneva— Francs to £1 .. 25.221 17.57 17.611 Vienna— Schillings to £1 84.861 811 311 Helslngfors— Marks to £1 .. 193.23 2261 2261 MadridPesetas to £1 25.231 40 3-18 40 7-16 Belgrade— Dinars to £1 .. 25.22} 250 250 Athens— Drachma to £1 375 590 590 Lisbon— Escutlos to £1 110 no 110 Bucharest— Lei to £1 .. 931.6 5721 • 5721 Bio de J anelro— Penco to mllrels 5.890 4% 41 Buenos Aires— Penco to pesos 47.28 413 411 Shanghai— Pence to tael • • — 15i 15 Montevideo — Pence to pesos — 34 84 Warsaw— Zlotys to £1 .. — — —