COMMERCE AND FINANCE

Otago Daily Times, Issue 22711, 25 October 1935, Page 6

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS

THE RESERVE BANK ASSETS AND LIABILITIES (Per United Press Association) WELLINGTON, October 24. The Gazette issued to-night contains the following statement of the liabilities and assets of the Reserve Bank of New Zealand as at the close of business on Monday, October 21. The figures at the close of last week are given for the purposes of comparison, shillings and pence being omitted: —

DOLLAR AND FRANC (United Press Association) (By Electric Telegraph—Copyright) LONDON, October 23. Exchange on New York is quoted at 4.92 dollars to the £, and on Paris at 74*. francs to the £. AUSTRALIAN STOCK EXCHANGES (United Press Association) (By Electric Telegrtiph—Copyright) SYDNEY, October 24. (Received Oct. 24, at 11 p.m.) On the Stock Exchange the investment market was strong, with banking, gas, and steamship shares showing a firming trend. Most of the leading industrials registered gains.

ESTIMATED CROP ACREAGES (Pee United Press Association) WELLINGTON, October 2 L A return by the Government Statistician appearing in the Gazette to-night gives the following acreages of wheat, oats, and barley sown in 1934-35 and estimated to be sown in 1935-36. The total areas sown in 1934-35 were:— Wheat, 230,523 acres; oats, 336,418 acres; barley, 28,731 acres. The estimated areas for 1935-36 are—Wheat, 246,000 acres; oats, 344,000 acres; barley, 26,500 acres. The area of potatoes grown in 193435 was 23,001 acres and the estimated area for 1935-36 is 21,000 acres.

THE SHARE MARKET DUNEDIN STOCK EXCHANGE Bank of Australasias changed hands at £ll 2s 6d on the Dunedin Stock Exchange yesterday. Further inquiry was made at £ll without attracting a selling quotation. Inquiry was made for Mortgage Corporations at the afternoon call at 5s 6d, but sellers held off for 5s 7d. Subsequentb, however, three lots changed hands at tue former price. Sales of P. and 0. Deferred Stock at £1 Is 9d, Dalgetys at £8 2 s and Union Steams (pref.) at £1 ‘s 6d were among those reported, and business in mining was confined to Bendigo Go dlights and Big Rivers The latter -neie reported to have brought Is lOid, but at the afternoon call buyers would not advance beyond Is fld, sellers demanding 18 lld ' SALES REPORTED.

DIVIDENDS PAYABLE. The following is a list of the shares on which dividends will shortly be payable:— Brown Ewing (ord.) —2} p.c., 6d per share, final Oct. 26 Brown Ewing (pref.)—s p.c., Is per share, final Oct. 26 Donaghy’e Rope— 7i p.c., 9d per share, interim .. ••. • • Oct. 26 N.Z. Guarantee Corporation 8 1-13 p.c., IJd per share, final Oct. 30 D.I.C. (ord.) —5 p.c., fid per share, final Oct. 30 D.I.C. (pref.)—s p.c., Od per share, final Oct. 30 South Otago Freezing—-8 p.c., . 8s per share, final Oct. Timani Brewery—s p.c., 2;}d per share, interim Oct. N.Z. Paper Mills-3 p.c., 7 l-5d per share, interim' Nov. 11 Martha (Waihi) —6d per share Nov. 15 Natl. Bank of Australia (£10) 5 p.c., 5s per share .. .. Nov. 27 Natl. Bank of Australia (£5) 5 p.c., 2s 6d per share .. Nov. 27 Australian Glass (ord.) —10 p.c., Is per share, interim .. .. Dec. Australian Glass (pref.)—9 p.c., 10 4-5 d per share, interim .. Doc

NORTHERN EXCHANGES AUCKLAND Sales on ’Change

LONDON METAL MARKET (United Press Association.) (By Electric Telegraph—Copyright) LONDON, October 23. (Recelrod Oct. 24, at 11 P.m.) The following are the official metal quotations:—

SHARP DROP IN BUTTER 4 SPECULATORS RESELLING. (United Press Association) (By Electric Telegraph—Copyright) LONDON, October 23. Butter slumped sharply, due chiefly to speculators reselling. Business is practically at a standstill. Nominal price, New Zealand and Australian choicest salted, 114 s. PRICE OF FINE GOLD (United Press Association) (By Electric Telegraph—Copyright) LONDON, October 23.

AUSTRALIAN WOOL SALES BRISBANE AND GEELONG. (United Press Association) (By Electric Telegraph—Copyright) BRISBANE, October 24. At the wool sales there was a buoyant market, Japan and Germany being the principal operators. Satisfactory clearances were made. Top prices were; Greasy, 21|d; scoured, 291 d. At the opening of the Geelong wool sales there was particularly strong competition. The crossbred section showed an advance on last sales. Merino wool sold to 241 d and crossbred to 24d, both Australian records for this season.

LIABILITIES Last week. This week. £ £ 1. Paid-up capital .. •• 500.000 500.000 2. General Reserve Fund . • 1,000.000 s. Bank notes - 8.887,405 8,858,482 4. Demand liabilities — 5,702.748 4,751,083 (a) State 5.938.000 4.574,174 (c) Other 090.341 5. Time deposits C. Liabilities in currencies other than New Zealand currency .. -• — 7. Other liabilities .. . • 82.509 Total £21.813,481 ASSETS S. Reserve— 2.801.732 2,801.732 (b) Sterling exchanges .. 17.121.410 17,259.205 (c) Gold exchange — 9. Subsidiary coin .. •• 218.739 215,099 10. Discounts— (a) Commercial and agrlcultural bills — (h) Treasury and local body bills • • “ — 11. Adiances— (a) To State or State undertakings .. .. — (b) To other public authorities .. ■ • — — ““ 12. Investments 1.607.682 1.615,293 13. Bank buildings .. - • T— 14. Other assets 25.593 22,090 Total £21.073,103 £21.813,481 Proportion of reserve (No. 8 less No. 6) to notes and 99.212% other demand liabilities .. 99.166(5.

THE MORNING SALES. £ S. d. Commonwealth Bonds— 3i p.c., 1948 .. 96 5 0 4 p.c., 1941 103 6 3 4 p.c., 1947 103 17 6 4 p.c., 1957 .. 104 10 0 Commercial Bank of Australia (pref.) 9 11 0 Australian Gas A 7 16 0 Tooheys 1 9 3 Anthony Hordern 0 19 3 Broken Hill Proprietary (ex rights) 2 15 9 Broken Hill Proprietary (cum rights) 1 0 6 Colonial Sugar 43 17 6 Dunlops (New Zealand delivery) 0 15 104 Goldsbrough, Mort 1 11 3 ADDITIONAL SALES. Commonwealth Bonds — £ 8. d. 4 p.c., 1938 102 17 6 4. p.c., 1941 103 10 0 4 p.c.,. 1947 104 7 6 4 p.c., 1950 104 12 6 4 p.c., 1953 .. 104 2 6 4 p.c., 1957 .. 104 10 0 4 p.c., 1959 103 7 6 4 p.c., 1961 103 12 6 Colonial Sugar 44 0 0 Bank of Australasia .. .. 11 5 0 United Insurance 12 10 0 Associated News 1 4 3 British Tobacco 1 19 3 Tooths 2 17 3 G. J. Coles 3 3 9 Australian Iron and Steel (pref.) 1 6 3 Dunlop Perdriau 0 16 0 Goldsbrough, Mort 1 11 4J Electrolytic' Zinc (pref.) .. 1 16 6 Anthony Hordern 0 19 (pref.) 1 3 9 General Industries 0 18 9 Mount Morgan 1 16 6 Mount Morgan Development 0 2 3 Broken Hill Proprietary (ex rights) 2 16 0 Broken Hill Proprietary (fights) 1 0 74 South Broken Hill 4 18 6 North Broken Hill 7 17 0 Zinc Corporation 3 4 3 Bulolo Deposits 0 1 0 ' Rawang 0 8 9 Malim Nawar 0 16 6 Tavua Development .. •. .. 0 5 0 Mineral Development .. .. 0 3 10 Loloma 1 18 6 Mount Kasi 0 17 9 MELBOURNE, October 24. Bank of Australasia .. .. 11 3 0 Zinc Corporation 3 4 3 Loloma 1 19 0 Emperor 1 2' 9

£ s. d. Bank of Australasia 11 2 6 P. and 0. Deferred Stock 1 i 9 0 55 10 101 Dalgety and Co. 8 2 Bendigo Goldlight • * 0 0 0 0 Big River (2) .. . i Union Steam (pref.) • • .. 1 7 6 Mortgage Corporation (3) 0 5 Tlie following are yesterday afternoon s buying and selling quotations, subject to tbe usual brokerage wiucu arc BANKING. Buyer. Seller. £ 8. d. £ 8. d. A’asia N.Z. 11 0 2 10 0 3 2 u 0 Commercial .. • • 0 13 7 5 6 E.S. and A. 0 ' 3 11 9 — Union 9 4 0 8 0 INSURANCE, National .. . • 0 19 4 — Standard • • • • 3 5 0 SHIPPING. P. and 0. Def. 9 Stock 1 1 1 3 6 U.S.S. Go. (pref.) 1 7 3 MEAT PRESERVING. N.Z. Refrig. 1 0 (paid) 1 2 N.Z. Refrig. (cout.) ■ • • • 0 11 1 0 ii 4 South. Froz. Meat 19 6 (paid) •• — South Otago Freez7 6 0 ing LOAN AND AGENCY. 0 Dalgety and Co. . • — 8 4 Goldsbrough, Mort 1 10 3 Mortgage Corporation Natnl. Mortgage 0 5 6 0 2 5 14 7 6 Natnl. Mortgage 1 12 6 (B Issue) .. • • *” N.Z. Loan and M. (ord.) •. • • — i 17 10 N.Z. Guarantee Corp. • • • • — 0 6 6 Wright, Stephenson (ord.) .. •• — 0 18 9 Wright. Stephenson (pref.) . • • • 1 0 COAL. Westport 1 2 0 1 2 9 MISCELLANEOUS. 6 Associated News — 1 4 Associated News 6 (pref.) .. • • 1 3 Aust. Iron and Steel 1 5 0 Broken Hill Propy. 2 14 (ex rights) 0 Brown, Ewing 0 (pref.) •• 1 1 D.I.C. (pref.) 1 4 0 —— Dominion Fertiliser 1 2 6 - Dominion Fertiliser 105 10 1 4 0 0 (Debs.) • • • • Dominion Rubber 1 8 6 Stock Exchange Propy. • • • • Milburn Lime 1 17 0 2 2 0 5 0 0 0 0 0 0 N.Z, Drug Co. 3 16 3 4 0 N.Z. Newspapers 2 0 6 2 1 N.Z. Paper Mills Regent Theatre 1 8 0 16 0 0 1 0 19 Wilsons Cement 2 1 0 Woolworths (ord.) 5 5 0 Woolworths (Sydney) ..... — 5 13 0 WOOLLEN COMPANIES. 6 0 0 Bruce (pref.) — 1 2 Kaiapoi (pref.) .. — 0 Mosgiel — 6 10 10 Oamaru i i 1 2 BREWERIES N.Z. Breweries 2 12 6 2 13 0 Tooths 2 16 0 — AUSTRALIAN MINING. Broken Hill South 4 15 0 — Electro. Zinc. 0 (ord.) ...• 1 11 — 6 Mount Lyell .. , 0 19 0 0 19 Mount Morgan 1 15 3 1 16 6 Upper Watut . •• — 0 7 3 MINING. Bendigo Goldlight 0 0 5J 0 0 6 Big River .. .. 0 1 9 0 1 11 Charleston — 0 '0 6 Gillespie’s Beach 0 1 1 0 1 3 Kildare 0 2 6 0 3 0 King Solomon 0 3 3 0 — Mount David — 1 6 Okarito 0 4 6 0 5 6 Oxenbridge .. — 0 0 3i Paddy’s Point — 0 2 6 Sandhills — 0 0 6 Skippers — 6 0 0 2i Waipapa Beach . . 0 1 — Waitahu .. 0 2 7 — Martha 1 0 G — GOVERNMENT LOANS. 31 p.c. Stock, Nov., 1938-52 .. .. 104 5 0 — 3J p.c. Stock, Mar., 1939-43 .. .. 104 5 0 — 4 p.c. Stock, 193740 ' 102 0 0 4 p.c. Bonds, 19434G 104 10 0 — 4 p.c. Stock, 1943- * 46 104 10 0 — 4 p.c. Stock. 19460 49 104 10 0 106 0 4 p.c. Stock, 195255 — 109 0 0

£ s. d. Stock —4 per cent., 15/4/49 (2) 105 0 0 Bank of Australasia .. .. 11 2 0 Bank of New South Wales 32 0 0 Bank of New Zealand .. 10 9 Mortgage Corporation .. 0 0 7 Traders’ Finance (cont.) 0 3 10 lienown Coal 0 10 0 Broken Hill (rights) 1 0 I) Claude Neon (Sydney) .. 10 6 Colonial Sugar 43 ,) 0 Dunlop Pedriau 0 J.) 6 Electrolytic Zinc I 12 0 1 2 0

N.Z. Refrigerating (cent.) .. 0 o 10 ) 1 n i 1 0 9 1 1 0 Waihi Investment 0 15 0 Unofficial N.Z. Perpetual Forests .. .. 2 IG 6 Woohvorths (Sydney) .. .. 5 11 0 WELLINGTON Sales on ’Change Bank of New South Wales .. 32 0 0 Mortgage Corporation (2) .. 0 0 G N.Z. Guarantee Corporation.. 0 i) 2 Wellington Investment .. .. 0 9 0 South British Insurance (cum 4 8 9 div.; late Wednesday; 2).. 4 9 3 4 8 9 N Z. Refrigerating (cont.; 0 0 11 10 0 11 late Wednesday) Waihi Investments 0 15 0 Martha (lats Wednesday) . . 1 1 2 Mount Lydl (late Wednesday) 0 19 2 CHRISTCHURCH Sales on ’Change Unlisted Stocks 0 1 3 Woohvorths (Sydney; ord.; 3) 5 10 0 Sales Reported South Seas Fishing .... 0 8 0 Woohvorths (Sydney; ord.).. 5 10 0 0 Woohvorths (West Australia) 8 11 Sales on ’Change Listed Stocks Commercial Bank of Austra0 IG 8 G tralia (3) G 0 Mortgage Corporation (os G 0 5 N.Z. Refrigerating (10s n 0 12 7 Dunlop Pcrdriau Rubber (2) 0 15 11 11 7 Electrolytic Zinc (ord.) 1 1 10 0 1 11 11 t r • 11, 0 1 1 0 0 2 0 0 0 0 24 0 0 n 0 0 24 Sales Reported Listed Stocks Whitcombe and Tombs (2) .. 3 15 0 3 4 Broken Hill Proprietary 0 18 (rights) 1 1 8 South British Insurance (ex 4 7 6 National Insurance • • • • • • 1 9 6 0 Commercial Bank (pref.) .. 9 12

Ton. Copper, spot £34 13 1% Else £0 8 9 Copper, forward .. 35 0 Vh Rise 0 8 fl Electrolytic, scot .. S3 6 G Rise 0 15 0 Electrolytic, forward 39 15 0 Rise 0 6 0 Wlra bars . > .. 39 16 0 Kise 0 5 0 Lead, spot .. .. 17 11 3 No change Lead, forward 17 10 0 FaU 0 1 3 Spelter, spot 18 2 G Rise 0 2 6 Spelter, forward .. 16 6 0 No change Tin, ipot .. .. 216 16 0 FaU 16 15 0 Tin. forward 209 12 0 FaU 11 17 6 Pig Iron, home trade 3 7 6 No change Pig Iron, export 8 2 G No change Antimony. British 83 10 0 No change Antimony, foreign 62 10 Unit. 0 No change 1 14 6 No change Wolfram .. •• 1,13 Oz. 0 No change Silver, standard .. Silver, tine .. .. 29 5-16d 31%d No change No change

£ 8. d. October 23 .. .. .. 7 i 4i October 22 .. .. .. 7 i 7 October 21 .. .. .. 7 i 5 October 18 .... 7 1 31 October 17 .. .. .. 7 i 6 October 16 .. .... 7 i n October 15 .. .. .. 7 i 9 October 14 .. .. .. 7 i 9i October 12 .. .. .. 7 i 9