COMMERCE AND FINANCE

Otago Daily Times, Issue 22100, 2 November 1933, Page 7

COMMERCE AND FINANCE

MELBOURNE WOOL SALES (United Press Association.) (By Electric Telegraph—Copyright.) MELBOURNE. November 1. At the wool sales 10,150 bales were offered, and a 98 per cent, clearance was effected. The prices were equal to the highest point of the Australian season, with comebacks ana fine crossbreds a little better. Comebacks real ised up to 23d per lb, equal to the highest pr’ce obtained m Melbourne this season. LONDON WHEAT MARKET (United Press Association.) (By Electric Telegraph—Copyright.) LONDON. October 31. Wheat cargoes: Buyers are reticent owing to bearish United States, Canadian visible supply advices, and the uncer- • taintv of the American monetary policy. Quotations declined ,3d. Port of Tacoma (bulk) 22s 3d. . Parcels: Mamtobas are obtainable at Ijd to 4}d down. Others are unchanged. Ex City of Singapore, 23s 6d. Futures; London—December, 19a 9d; February, 20s; „4§ n Vr 2 °V 6 da Liverpool—December, 4e 6|d; March, 4s 10di May, 4s ll§d. _ ADDINGTON MARKETS (Per United Press Association.! CHRISfCHURCH, November 1. There was a sharp rise of 3s in lat sheep at the double, market at “ to-day. The yarding was too small tor ”|£f Stei>.-Th.« wa. . fair J-rdjW and a good clearance, but ewes and lamb and wether hoggets were cheaper Values. to 13s 3d, good ewes and lambs (all counted) 12s 9d to 14s 6d.^dm ar y |s to lie, good shorn crossbred wethers 13s ou tC> Fat Lambs.—There was a yarding of 900—rather more than was required.’ine sale was firm at the start, but later eased Values all round were on a par with last week’s, the average price being 7fd to Bid per lb; Values: ISxtra prime heavy lambs to 26s 4d, prime 22 8 to 24s fid, medium weight 19s to 21s fid, light 16s to 18s fid. . Fat Sheep—The yarding numbered 5000—too small for a double market—and there was a sharp advance early in the sale, with a continued advance all through. The prices were up all over by 3s, and in some cases by ss. Most of the offering was from within the province, a few being sold in wool. Values;; Exti.a prime heavy wethers made to 28s 4d, prime heavy 21s to 23s fid, medium weight 18s fid to 20s fid, ordinary 16s to 18s, light 14s to 15s fid, extra prime heavy ewes to. 26s 7d, prime heavy 20s fid to 22s fid, medium weight 1/s .fid to 20s, ordinary 15s to 17s fid, light 12s fid to 14s fid. i f Fat Cattle.—There was an entry ot 595, practically all from within province, with a few from the West Coast, Southland, and Otago. Steers were good, but too 'many cows of ordinary quality were forward. Values for cows were back by 20s to 30s per head., Best beet made 24s to 27s per 1001 b, good 20s to 235, heavy weight 17s fid to 20s, medium 14s to 16s fid, rough down to 12s. Values: Extra prime heavy steers brought to £l3 7s fid, prime heavy £9 10s to_ £ll, medium weight £8 5s to £lO, ordinary £6 to £B, light £5 I,os, extra prime heifers to £9 17s fid, prime £6 to £B, medium £4 to £5 10s, light to £3 17s fid, extra prime cows to £9 12s 6d, prime £5 to £6 10s, medium £3 to £4 10s, light to ' £2 17s fid. . Fat Pigs.—A small entry was forward, and everything was -sold with-a good demand. Pork was * keenly wanted, and some purchased for export. Values; Choppers £? to £4 18s fid, baconers 44b fid to 53s fid,- heavy 58s fid to £3 4s fid, extra £3- 10s fid, average 4d to 4|d, porkers 27st fid to 32s fid, heavy 37s 6dto 42s fid. average per lb 5d to s|d.

r LONDON FRUIT MARKET The Otago .Provincial Fruitgrowers’ Council, Ltd., advises that the High Commissioner’s cabled report for the week ended October 28 on the London fruit market is as follows: — ' Apples.—Stocks of New Zealand nowcleared. Market remains depressed, with somewhat lower prices. Messrs Fraser and Co., selling agents for Otago and Oamaru Egg Circles, report as under:—Eggs: Poultry farm eggs, market rates; others, 8d to 9d. Butter: Separator pate, 7d per lb; bulk, TJd per lb.. Tallow? 8s to 9s per cwt. Pigs: Good bacon weights, 4sd per lb; overweights, 2d to 3d; porkers, to 4£d per lb Potatoes, £3 to £3 15s per ton, ex store. Chaff. £3 15s to £4 per ton, sacks extra. Whole fowl wheat, 4s to 4s 3d per bushel. Bulk honey, 3Jd to 4d per lb: 101 b tins, 3s 3d to 3s 6d. Beeswax, Is. Poultry:. White Leghorn hens, 3a 6d to 4s; heavy breeds, 5s to 6s; cockerels, 5s to 10s; - roosters, 2s to 3s; ducks. 3s to 4s; ducklings, 6e to 8s (all per pair); turkey gobblers, 8d to 9d per lb live weight; hens, 7d to 8d per lb. We stock “Palmer’s’* chick food, “National” meat meal, leg rings Is per dozen (special quotes for. quantities). We are agents for “ Champion ’ egg crates, “ Isco ” cod liver oil for poultry, prices on application. . Consignors please note that all pigs and poultry must arrive not later than Wednesday morning of each week. We have a stock of poultry crates on hand for the use of our clients.

LOCAL AND OVERSEAS MARKETS,

THE SHARE MARKET DUNEDIN STOCK EXCHANGE No business was transacted on the Dunedin Stock Exchange yesterday. There was a stronger inquiry for Bank of New Zcalands, buyers offering up to £2 7s 3d, but sellers were not interested. Commercial Banks also met with an improved demand, buyers offering 16s lid. Sellers, however, required 17s 2d. For Dalgety and Co. shares buyers were prepared to give £lO 7s, but sellers did not come for 4 ward. Paid-up New -Zealand Refrigeratings were inquired for at 19s Bd, without any response being received from sellers. There was an improved demand for Electrolytic Zinc'' preference shares, buyers closing offer being £1 15s, which was eightpence below sellers’ requirements. There was a slight improvement in the inquiry for New. Zealand Breweries, buyers offering £1 6s fid. Sellers, however, were not interested. Waihis were inquired for at £1 ss, ex dividend, without sellers responding. The market for King Solomons showed a slight _ improvement, the closing buying' and selling quotations being 3s Id and 3s 3d respectively. The following are yesterday afternoons buying and gelling quotations, which. are subject to the usual brbkerage:—

tCum rights. **Ex dividend. ttCuin dividend. DIVIDENDS PAYABLE. The following is a list of shares on which dividends will shortly he payable: — Electrolytic Zinc (pref), Is 7 l-sd, final Nov. 2 Bank of. Adelaide, 2s, interim .. Nov. 9 N.Z. Paper Mills, 7 l-sd, interim Nov. 10 Broken Hill Prop., Is, interim Nov. 15 National Insurance, sd, final .. Nov. 20 National' Bank of Australasia (£5), 2s 6d, interim Nov. 29 National Bank of Australasia (£10), ss, interim Nov. 29 Bank of N.Z., Is, interim .. .. Dec. 9 Bank of N.Z. (long D), 9d, interim .. Dec. 9 NORTHERN EXCHANGES (Pep Untied ihiF.ss Association.) The following business was done on 'Changes yesterday:— Auckland. —Sales; Stock (1939-43) 3J per cent., £101; Commercial Bank of Australia, 17s; National Bank of New Zealand, £4 3s 6d; Bank of New Zealand, 47s 3d (two); Goldsbrough, Mort, 30s Id; Union Steam (pref.), 24s Od; Bycroft, 40s 6d; Colonial Sugar, £Ol 7s 6d; Farmers’ Trading, 3s 4d; New Zealand Refrigerating (10s paid), 9s lid (three); Bell-Kilgour, is sd; King Solomon. 3s 2d; Waihi (ex div.). 25s 3d; Broken Hill Proprietary, 40s 9d (two); Mount Lyell, 23s id. Unofficial list: Investment Executive Trust (B), £9B (two); Peter’s Ice Cream (Auckland), 17s fid; Tattersficlds. 20s; Were's (5s paid), 4s fid; Goldfields Dredging (Is paid). Is Id. Wellington.—Sales: Inscribed Stock 3J per cent. (1939-43), £101; Bank of New Zealand, 47s 4d; New Zealand Guarantee, 8s 3id; New Zealand Refrigerating (cont.), 9s Ud (two); Colonial Sugar, £6l 15s; Alexander Mines (cont.), 17s fid;'.Waitahu, 6s 8d; Bulolo Gold, £4 18s 9d. Unofficial: Investment Executive (B debs.), £9B. _ Christchurch.—Sales on ’Change: New Zealand Government 4J per cent. Inscribed (1955), £lOl 12s fid; 4 per cent. Bonds (1955), £102; Bank of New South Wales, £34; Bank of New Zealand (cum div.), 47s fid (two), 47 s 5d (two), 47s 4d (three); Goldsbrough, Mort, 30s (four), 30s Id, 30s; New Zealand Refrigerating (10s'paid), 9s lid (seven); Westport Coal 13s ’9d; Staples Brewery, 28s 2d; Beath and Co. (Is paid), 6s; Dunlop Rubber, 18s 9d, 18s 8d; Electrolytic Zinc (pref., cum div.), 35s 3d; Mount Lyell, 23s 3d; Lawson’s Flat, 3d (six); New Cornish Point (Is paid). Is Id (two); Okarito, 9s lid (six); Waitahu, 6s 8d (two), Cs 7d. Sales reported: Goldsbrough, Mort 30s Id (two); New Zealand Refrigerating (10s paid), 10s; New Zealand Breweries, 37s 3d.

MINING WETHERSTONES MINE REPORT. The following report has been submitted by the mine manager of the Wetherstones Gold Mining Company, Ltd., for the four weeks ended October 28:— The inclined shaft was advanced 112tt to 839 ft in conglomerate. During the period the shaft timber was gone over and the ground eased where necessary. At the 510 ft level the drive west was advanced 49ft to 169 ft: in conglomerate. Larger pebbles are appearing m the conglomerate, and the gold content is increasing. The hoist for the inclined shaft has been erected and housed, the installation of the conveyor belt is being proceeded with, and the necessary extensions to the trestles have been erected. FIFTY PER CENT. DIVIDEND. Profits of Lake View and Star mine (Western Australia) for the year ended June 30 amount to £470,831, including £31.526 brought forward. After writing £129,972 ofi for development and de preciation, the 1 directors recommend a final dividend of 12 i per cent., maKing 2s a share or 50 per cent, for the year. After adding £50,000 to reserve, there is £19,433 to be carried forward. BELL-HOOPER OPERATIONS. The following is the report on the BellHooper mine for the week ending October 28, 1933; , . . ... Monday (Labour Day) being a holiday there were only five working days. The No. 3 cross drive east was advanced 10 feet through very lively drift, and requires closer timbering. There appears to be stronger gold prospects as tma drive advances, and give the impression of being in the direction of the gold lead. The bottom is almost below the drive level, and the No. 2 tunnel must now bo driven up for drainage purposes before we can proceed much further. By survey this level will enable us to drive up and be under .the. present east workings about 7ft 6in, and I should imagine that with this face the whole area of the mine could be worked out resorting to pumping. I am ordering rails to be delivered in two weeks, and would suggest the driving be done by contract. The No. 3 stope drive east advanced 16 feet and showed fairly good gold prospects. This bottom has also gradually fallen away to almost the drive level. The several stope drives on hand are producing wash of varying values. Blocking out from the west boundary is also in hand and is producing some fair wash. We washed up for the week lOoz lOdwt of gold. PROPERTY SALE Messrs James Samson and Co. report that they submitted by auction yesterday, under instructions from the trustees in the estate of E. W. Kerr, a frehold property situated at 52 Montague street, North-East' Valley. There was a fair attendance of buyers. As the property failed to realise the reserve price, it was withdrawn and sold immediately afterwards to Mr Davies.

* BANKING. Buyer. '* Seller. £ s. d. £ s. d. New Zealand .. .. tf2 7 3 — Commercial .. .. 0 16 11 0 17 2 E. S. and A 5 10 0 5 14 0 National of N.Z. .. — 4 5 0 10 3 0 10 10 0 INSURANCE National tfO 18 6 — SHIPPING. U.S.S. Co. (pref.) 1 4 0 — COAL. Kaitangata .. .. 1 2 3 — Westport . 0 13 6 0 13 11 LOAN AND AGENCY. Dalgety and Co. .. Goldsbrough, Mort National Mortgage 10 7 1 9 0 6 2 13 0 — N.Z. Guarantee 1 Corp. .. 0 8 2 — MEAT PRESERVING. N.Z. Refrigerating 8 (paid) 0 19 — N.Z. Refrigerating 0 9 9 9 11 (cont.) 0 South Otago Ereez6 ing .... .. .. 4 18 0 5 0 MISCELLANEOUS. British Tobacco .. 1 17 3 — Brown, Ewing •' (ord.) 0 13 6 — Brown, Ewing 6 (pref.) — 1 0 Bruce Woollen 0 (pref.) — 1 0 Crystal Ice .. .. 1 9 0 6 Dominion Fertiliser 0 14 0 0 14 Electrolytic Zinc 15 8 (pref.) .. ... .. tfl 15 0 1 Electrolytic Zinc 9 6 6 (ord.) .... .. I 5 1 Kaiapoi Woollen 8 6 (ord.) .. .. .. — 0 0 Mount Lyell .. .. 1 3 — 4 N.Z. Drug Co. ... 3 10 0 3 11 0 N.Z. Paper Mills , tfl 7 9 1 8 6 Regent Theatre .. 0 19 6 — BREWERIES N.Z. Breweries .. 1 16 6 — 6 Timaru .. .. . • — 0 6 OIL. Moturoa .. .. .. — 0 3 6 MINING. •*1 5 0 Waihi Grand Jctn. 0 S 10 - — • — 0 2 4 Okarito — 0 10 2 Paddy’s Point — 0 5 6 New Cornish Point (Is paid) .. .. 0 1 0 0 1 2 New Cornish Point 7i (6d paid) ... .. 0 0 6 0 0 Golden Progress .. 0 1 0 0 1 6 King Solomon Golden Point 0 3 1 0 3 3 0 0 1 0 02 Alexander .. .. 0 16 6 — Gillespie’s Beach f0 2 1 — Waitahu .. .. .. i • . 0 6 7 Big River . .' 0 1 5 Mount David .. .. — 0 2 6 Nokomai 0 2 8 — 6 Freshford 0 0 4 0 0 Bendigo Goldlight — 0 0 6£ Central Shotover —; 0 1 2 Nevis Diesel .. .. . — 0 0 11 Bell-Kilgour .. .. — 0 1 5 Bell-Hooper .. .. — 0 1 0 Oxenbridge .. .. — 6 0 0 9i Aotearoa 0 0 . — GOVERNMENT LOANS. 3J n.c.. Ins., 19381952 ..... 101 10 0 — 3J p.c. Ins., 1939- / 1952 101 15 0 —— 4 p.c. Bonds Jan., i940 .. .. .. .. 101 17 6 — 4 p.c. Ins., Jah. ‘1940 101 17 6 — 4 p.c. Bonds, Feb., 1946 101 15 0 — 4 p.c. Ins., Feb., 1946 101 15 0 — 4 p.c. Bonds, April. 1949 100 12 6 — 4 p.c. Bonds, June, 1955 101 10 0 — 4 p.c. Ins., June, 1955 101 10 0 —