COMMERCE AND FINANCE

Otago Daily Times, Issue 22392, 13 October 1934, Page 8

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS

THE SHARE MARKET DUNEDIN STOCK EXCHANGE BUSINESS OF THE WEEK. The following is a list of the business recorded on the Dunedin Stock Exchange during the past week:—

There has been a smaller amount of business recorded on the Dunedin Stock Exchange during the past week than iu any similar period for some time. The market for sound industrial lines, however, has tended to firm and prices in the other sections ■ have been fairly steady. Bank of New Zealand Long D shares were turned over at £1 14s 6d, and are now on offer at that figure, with a buyer forward at' 3d less. After a period during which the demand for Reserve Banks lapsed'to \a- great extent there has been a fair amount of inquiry for the shares. Several .parcels changed hands at £6 9s Cd and one, sale .was effected at £6 10s. The closing Quotations were 3d on either side of the, latter, figure.. Standard Insurances were sold at £3 10s, and there is now an unsupplicd buyer forward at is less. v In the shipping. section . there was a sale of P. and 0. Deferred Stock at £1 Is. 'L. '•'.'■. Westport Coals had business at 193 Id, arid the shares have since been on offer at 19s 3d. „ , . '■ Contributing New Zealand Refngeratings we're .turned over 'at 9s 3d, the final quotations being Id on either side ofthat price. i_ There were two sales of Broken Hill Proprietaries at £2 13s, and buyers are now offering £2 12s 6d,'with sellers demanding 9d more. Mount Lyells had a sale aM9s, further offers of 18s 9d finding sellers firm at 19s 2d. A sale of the Sydney issue of Woolworths was reported at £3 18s, and two more parcels changed hands at 2s less. They are now on offer at £3 16s 3d. The market for New Zealand Breweries was firmer, sales being; effected at £2 10s. Up to £2 10s 9d is now being offered, sellers demanding f2 lis. Early in the week there was a sale of Bell-Kilgours at 3Jd, but they are now available at 2Jd. with a buyers in the market at 2|d. Three parcels of Bendigoes realised Hid, and there were further sales at lid. The latter figure was offered at the close of the market, the best selling quotation being ll£d._ Big Rivers, which are now quoted cum rights, had several sales at Is 6£d, and .they are now wanted at Is 7d, with a seller forward at Is 7|d. A parcel of Gi!-, lespie's Beaches realised Is 9d, and they are still on the market at .that figure, with a buyer offering Is Bd. Nevis Diesels had business at 4sd, at which figure the shares can now be bought. Three parcels of Skippers were sold at ,7J(I. ■■:■ „ , There was a sale of 4 p<c. 1949 Stock at £lO9 os, and there is now an unsupplied buyer forward at £lO9. The 1949 Bonds and 1955 Bonds were dealt in at £lll 5s and £ll3 respectively. The foraier are still'wanted at £lll and the latter at £ll2 10s. SALE ON 'CHANGE.

The following are yesterday afternoon's buying and selling quotations, which are subject'to the usual brokerage:— ..,

The following is a list of shares on which dividends will shortly be payable:— ,:..,.. ~ Woolworths (N.Z.), Ltd. (prd.) int., 4 4-5 d ...... ;. .. Oct. 15 Smith and Smith (pre?.), int., 6d ;. Oct. 31 N.Z. Guarantee Corp, final, 2d Oct. Waihi, Is .'.' ..... Nov. 1 NORTHERN EXCHANGES (Pee United Pbess Association) The following business was done on 'Changes yesterday:— Auckland.—Sales: Stock (1946), 4 per cent., £lO9 2s 6d; ditto (1949), 4 tfcr cent., £lll 7s 6d; ditto (1955), 4 per cent., £ 113 7s 6d; Commercial Bank of Australia (pref.), £9 1%; Bank of New Zealand, 28s lOd (two parcels); Reserve Bank; £6 10s 3d; Goldsbrough, Mort, 31s 6d; Auckland Gas, 26s 9d; ditto (cont.), 19s 9d; New Zealand Breweries, 60s 9d; Colonial Sugar, £75; Dunlop Perdriau, 19s 6d; New Zealand Newspapers, 32s 6d; New Zealand Refrigerating (cont.), 9s 2d; Northern Roller, 31s; . Sanford, 2s lid; ditto (pref.), lis 3d; Brian Boru, is 4d; Mahakipawa, lOJd; Waihi Junction, 4s 2d; Broken Hill Proprietary, 52s 7d.- Unofficial list: Eldorado, 21s 2d; Alluvial Holdings, 2s. Wellington.—Sales: Inscribed Stock, 4 per cent. (1940), £lO5 (late Thursday); Amalgamated Brick, Wellington, £105; Bank x of Australasia, £ll 17s 6d, £ll 15s; Commercial Bank of Australia, 16s 3d; Bank of New Zealand, 48s lOd (four parcels); ditto (D mort.), 34s 6d; New Zealand Guarantee Corporation, 5s sd; New Zealand Breweries, 50s 9d; British Tobacco, 40s; ditto (London delivery), 39s 9d (two parcels); Consolidated Biick, lis; Dominion Fertiliser, 20s 6d (two parcels); United Provisions, 9s 6d; Skippers, 7§d.' ' . Christchurch. —Unlisted stocks: Maori Gully (Is paid), Is 3sd. Sales on 'Change: Commercial Bank of Australia, 16s 2d (two parcels); Reserve Bank, £6 10s 3d; Union Bank, £9 6s; Dalgety and Co., £9 4s;. Goldsbrough, Mort, 31s 6d, 31s 8d; New Zealand Refrigerating QOs paid), 9s Id (two parcels); New Zealand Breweries, 60s 6d, 50s 9d, 50s lOd (three parcels), 50s 9d (two parcels); Timaru Brewery (7s 6d paid), 7s Id; Dunlop Perdriau Rubber, 19s 2d, 19s sd; Electrolytic Zinc (pref.), 35s 9d (two parcels), 35s lOd; Brian Boru, Is SJd (two parcels); Mahakipawa, 10Jd; Skippers, 7Jd; Waitahu, 4s 3d; Worksop Extended, 2s ljd (three parcels) ; "2s Id (four parcels). Sales reported: New Zealand Government 4 per cent. Inscribed (1940), £lO5 (two parcels); New Zealand Government 4 per cent. Inscribed (1949), £lll 10s; New Zealand Government 4 ner cent. Bonds (1946), £lO9 ss; New Zealand Government 4.percent. Bonds '1949), £lll 10s; Reserve Bank, £6 10s 3d; Union Bank, £9 7s 6d; Dalgety and Co., £9 6s; New Zealand Refrigerating (10s paid). 9s Id; New Zealand Breweries, 50s lOd (two parcels); Timaru Brewery (7s 6d paid), 7s Id. LONDON STOCK EXCHANGE (United Press Association.) (By Eleotrlo Telegraph—Copyright.) LONDON, October 11. (Received Oct. 12, at 5.5 p.m.) A more confident tone prevails on the Stock Exchange, and business is on a wider scale. A feature this morning was the strength of German bonds on news to the effect that the interest on the 7 per cent. Dawes loan, due on Monday next, will be met in full. The issue immediately rose 3J to 50J, and Young Loan 1* to 36J. British Government stocks arc steady. WHEAT, FLOUR, ETC. (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, October 12. Cargoes are firm and slightly dearer. Parcels are firm and Is higher. Futures —London: February, 23s lid; April, 24s 3d. Liverpool: October, 5s s|d; December, 5s 6d, 5s 8d; March, 5s 92d; May, 5s llJd. The spot trade is occasionally easier. Australian (ex ship), 27s to 28s. Flour is quiet. Australian (ex store), 20s 6d to 2 It.

BANK OF ENGLAND RETURN (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, October 11. The* ! following is the Bank of England return:— ISSUE DEPARTMENT. Note issue in circulation .. £379,550,025 Banking department .. ... 72,387,921 £451,938,546 Government debt 11,015,100 Other Government securities 244,780,778 Other securities 1,190,727 Silver coin 3,013,395 Gold coin and bullion .... 191,938,546 £451,938,546 BANKING DEPARTMENT. Proprietors' capital .. .. £14,553,000 Rest ' 3,083,721 Public deposits 18,636,485 Other deposits (bankers) .. 107,598,133 Other accounts 38,866,809 Seven-day and other bills .. ■: 5,060 £182,743,208 Government securities .. .. £85,384,164 Discount advances 14,032,280 Securities .. 10,289,224 Notes in reserve 72>387,921 Gold and silver coin ... .. 049,619 £182,743,208 The proportion of reserves to liabilities is 44.70 per cent. Short loans are quoted at I per cent.; three months' bills at 13-16 per cent. GERMAN WOOL REQUIREMENTS (United Press Association.) (By Electric Telegraph—Copyright.) BERLIN, October 11. It is reported that Germany is endeavouring to obtain her wool requirements from South Africa. Herr Herman Rauch (director of the Wool Association) is going there to try to arrange an exchange of German goods for wool. BRISBANE WOOL SALES BRISBANE, October 12. The wool sales concluded with the market firm at'recent levels. Top prices were: Greasy, 16|d; scoured, 25d.

. £ s. d. Bank of N.Z.. (Long D)■'•... .". 1 14 6 6 9 6 Reserve Bank. .-..'. ... .." .'. 6 10 0 Standard Insurance .... ... 3 10 0 P. and 0. Deferred Stock■'.. 1 1 0 0 19 1 WestportTStbckton (pref.) .. 0 4 9 N.Z. Refrigerating (cont.) .. 0 9 3 Broken Hill Propy., two .. 2 13 0 ; o 19 o Woolworths. (Sydney) .. .'.. 3 18 0 Woolworths (Sydney), two 3 16 0 N.Z. two ... . .. 2 10 0 0 0 Bendigo Goldlight, three .. 0 0 111 Bendigo Goldlight, three .. 0 0 11 0 1 6J 0 19 0 0 41 Skippers, three .. .. .... 0 0 71 109 5 0 111 5 0 113 0 0

£ i. d. N.Z. Refrigerating (cont.) .. 0 9 3 SALES REPORTED. 0 PI and 0. Deferred Stock 0 Skippers, three (late Thursday) 0 0 n 4 per cent. Stock, 1946 .... 109. 5 0

' .. banking:; Buyer. 'Sellei .•£; a. d. £ s. d. ' .1 — 11 17 0 N.Z .. 2 8 3 — N.Z. (lonjr D) .. 1 14 3 1 14 6 Commercial ». 0 16 0 — Natl, of N.Z. .. 3 13 0 3 15 6 Reserve 6 9 9 6 10 3 INSURANCE. 1 0 8 — 3 9 0 — SHIPPING. Howard Smith .'■'. .. —■ 0 16 6 Huddart, Parker (pref.) .. .... 1 8 6 — U.S.S. Co. (pref.) 1 .7 0 — COAL, i Grey Valley .. .. — 0 12 0 — 0 19 3 Westport-Stockton — 0 3 3 WeAport-Stockton. 0 4 8 0 5 o; LOAN AND AGENCY . , National Mortgage — 3 1 0 (N.2. Guar. Corp. 0 5 3 —■; Perpetual Trustees.. 3 1 0 — Wright, Stephenson (ord.) .. 0 17 6 0 19 0j Wright, Stephenson (pref.) .. .. 1 0 3 MEAT PRESERVING. '•• ; Canterbury Meat N.Z. Refrigerating 5 12 0 —* ■ (paid) .. .... — ,0 19 6' N.Z. Refrigerating 0 9 2 . 0 9 i South. Froz. Meat 3 12 6 3 15 & South Froz. Meat 1 16 0 1 180 South. Froz. Meat 3 12 6 :":•'. — '. South Otaeo Freez. 6 9 0 — Waitaki Farmers 2 19 6 ' —

MISCELLANEOUS. ' Buyer. Seller. £ 6. d. £ s. d. Associated News V? 14 6 — Broken Hill Propy. 2 12 6 2 13 S Bruce Woollen (ord.). . 0 15 0 0 15 6 Bruce Woollen 11 3 . — D.I.C. (ord.) .. 0 15 0 .— Dominion Fertiliser 10 3 ■:— Dominion Fertiliser (debs.) .. .. 104 0 0 . —- Dominion Rubber — 1 11 0 Dun.-Kaikorai 1 18 0 — Dunlop Perd. Rub 0 19 0 0 19 5i Stock Exch. Propy • 2 1 0 V.; Electrolytic Zinc (pre!.) .. .... 1 15 .6 ■■;T7' Electrolytic ■ Zinc (ord.) 1 7 0 .' -rKaiapoi Woollen (ord.) .... .. 0 13 3 0 13 8 Milburn Lime .... 2 0 0 -^-' , Mosgiel Woollen .. 10 15 0 ■ — M'Leod Bros. .... 32 0 0 '. ~ Mount Lyell ■•••'. 0 18 9 0 19 2 National Electric 0 8 0 — N.Z. Drug Co. ... 3 18 9 ' — Farmers' Fertiliser — i ;o 3 Regent Theatre .. Wilsons Cement 7. 0 18 3 0 19 6 112' 6 — Woolworths (pref.) ■_ii . 2 3 6 Woolworths (ord.) .7 10 ;b :— Woolworths (Syd.) '.'i~' -~^- 3 16 3 "'■' ' ~" 0 4 0 BREWERIES N.Z. Breweries .. 2 10 9 2 11 0 ,;:1 ' 8 6 1 10 0 Timaru (7s 6d pd.) ■:■ 0 -7 1 0 7 6 2 9 o 2 10 0 OIL. ■ — 6. 4 0 MINING. Bell-Hooper .. . , — 0 0 3i Bell-Kifgour .. .. 0 0 2J 0 0 n Bendigo Goldlight 0 0 11 0 0 11J Big River (cum. rights) .. .. . . 0 1 7 0 1 7J Central Shotover ' — 0 0 9 Gillespie's Beach.. 0 1 8 0 1 9 Golden Point .... ' .''.— 0 0 3 Golden Progress . .- ;•' ' -.' ; — 0 1 3 Golden Sands .... . ■ — 0 3 0 Goldfields Dredging — 0 0 11 Hatter's Flat .. 0 0 1 — ,. — 0 2 0 1 King' Solomon — 0 3 9 Mahakipawa' — 0 0 Hi 0 2 7 — Moonlight-Nelson 0 0 2 0 0 n Nevis Disel .. .. — 0 0 4A 0 2 11 0 3 6 — 0 8 9 Oxenbridge .. 0 0 9J 0 1 0 Sandhills .. 0 0 5J — — 0 1 3 0 4 2 0 4 4 GOVERNMENT LOANS. 3£ p.c. Stock, 19381943 .. .. .. .. 108 0 0 — 3§ p.c. Stock, 19391943 108 0 0 — 3£ p.c. Stock, 19411943 108 0 0 _ 3h p.cr Stock, 1938109 0 0 _ 3* p.c. Stock, 19391952 109 0 0 — 3J p.c. Stock, 19411952 109 0 0 — 4 p.c. Bonds, Jan. 15, 1940 .. .. 104 10 0 — 4 p.c. Stock, Jan. 15, 1940 .. .. 104 10 0 106 0 0 4 p.c. Bonds, Feb. 15, 1946 .. 109 0 0 — 4 p.c. Stock, Feb. 15, 1946 .. .. 109 0 0 — 4 p.c. Bonds, April 15, 1949 .. .. 111 0 0 ' — 4 p.c. Stock, April 15, 1949 .. .. 111 0 0 _ 4 p.c. Bonds, June . 15, 1955 ..' .. 112 10 0 — 4 p.c. Stock, June 15, 1955 .. .. 112 10 0 — DIVIDENDS PAYABLE.