THE SHARE MARKET

Otago Daily Times, Issue 22742, 30 November 1935, Page 10

THE SHARE MARKET

DUNEDIN STOCK EXCHANGE The following is a list of the business transacted on the Dunedin Stock Exchange

Were’s Trust- • • ■ 0 410 Quartz Mountain 0 9 0 An increased volume of business was recorded on the Dunedin Stock Exchange during the past week, as compared with the previous period. For the most part shares remained steady in the vicinity of recent values, the most notable exceptions being Bank of New Zeaiands and Reserve Banks, which eased considerably. . BANKING. I Bank of New Zeaiands dropped from £2 11s to £2 6s towards _ the' end of the week, and yesterday rallied slightly, the closing buying offer being £2 Bs. Sellers’ latest requirement was £2 10s. Business at £2 11s 6d was recorded earlier in the week. Commercial Banks firmed slightly, buyers offering 17s, but sellers would not accept less than 17s sd. National Bank of New Zeaiands were on offer at £3 14s 6d, but buyers did not come forward. On Thursday, Reserve Banks were inquired for at the low price of £s'los, compared with £6 5s last week, but yesterday there was an, improvement in the market for these shares, buyers offering £5 15s. Sellers would not do business under £6. Several parcels were disposed of at £6 ss, £6 5s 3d, and £6 5a 6d before the market dropped. INSURANCE. National Insurances were on offer at 19s lOd, but buyers were not interested. South British Insurances were inquired for at £3 15s 6d, without sellers coming . forward. SHIPPING. There -was no activity in shipping shares during the week. Huddart Parker preference shares were inquired for at £1 7s, and Union Steam preferreds were in demand at £1 7s 4d, no sellers responding in either case. MEAT PRESERVING. . Contributing New Zealand Refngeratings were on offer at the slightly lower price of 10s lid, but buyers did not respond. Paid-up Southland Frozen Meats were disposed of at_ £3 18s, a final seller at the same figure failing to attract further buyers. LOAN AND AGENCY. The market for Mortgage Corporations cased to 5s on Thursday, compared with 5s 8d a few days earlier, but at the close of the week buyers were offering 5s 2d. Sellers’ closing requirement was 5s sd. , Parcels changed hands at 5s 8d and 5s 9d towards the beginning of the week. Perpetual .Trusteed snares were on offer at £3 6s, but buyers remained unchanged at £3 3s. COAL. Pukemiro Collieries were inquired for at £1 4s, but sellers would not acept leas than £1 5s 6d. Westport Coals were offered for sale at £1 2s 9d, ex dividend, but buyer? did not come forward. Kaitangata Coals were disposed of at £1 2s 3d, a closing buyer at £1 Is 6d being unsupplied. WOOLLEN COMPANIES. There was praeticaly no change in the market for the various woollen company shares. The ordinary and preference Bruce shares were on offer at 14s Gd and £1 Is 9d, as usual, and’Mosgiels were inquired for at £lO, which was 5s below sellers’ requirements. Oamaru Woollens showed an improvement, the final buying offer being £1 le 9d, compared with £1 Is last week, but sellers remained unchanged at fl 2s 6d. Business at £1 2s was reported. MISCELLANEOUS. Broken Hill Proprietaries were on offer at £2 17s 9d, ex dividend, but buyers showed little interest. The new issue (5s paid) was disposed of at £1 Bs, a closing buyer at £1 7s 6d being unsup- " plied. Buyers of National Electrics were prepared to give I2s 9d, but sellers would not accept less than 13s 9d. A transaction at 13s was reported earlier in the period. New Zealand Drugs were the subject of business at £4, the closing buying and - selling quotations being £3 19s and £4 0s 6d respectively. New Zealand • Newspapers were inquired for at £2 Is, but sellers were not interested. BREWERIES. During the week the market for New Zealand Breweries advanced to some extent, sales being recorded at £2 15s, ‘£2 16s Id, £2 15s 6d, and £2 15s 9d, Towards the close of the period, however, prices again eased, and further sales were recorded at £2 15s. The closing buying offer was £2_l4s 9d, which was 9d below sellers’ requirements. AUSTRALIAN MINING. There was a slightly easier inquiry for Electrolytic Zinc preference shares, buyers’ closing offer being £1 18s 6d. Sellers were not interested. The ordinary

issue also met with a weaker demand, buyers' best offer at the close of the week being £1 14s 3d. Sellers, however, required £1 15e 3d. There was an easingin the market for Mount Lyells, which were inquired for at £1 Os lOd, cum dividend, while sellers asked £1 IsAd. Business at £1 Is 3Jd and £1 Is was reported. Mount Morgans -were offered for sale at the lower figure of £1 17s, but buyers were not interested. MINING. Bendigo-Goldlights were disposed of at 3id, the closing buying and selling quotations being 3|d and 4Jd respectively. There was a better inquiry for Big Rivers, buyers offering Is lOd. Sejjers, however, remained firm at 2s. King Solomons were in demand at 3s Id, but sellers did not come forward. Kildares were dealt in at 2s 9d, a closing seller at 3s being unanswered. Waipapa Beach shares were the subject of business at Is 6id, the final' selling quotation of la 8d eliciting no response from buyers. Waitahus were offered for sale at the lower price of 3s Id, but buyers did not respond. Business at 3s was recorded earlier in the Week. GOVERNMENT LOANS. There was a slightly easier market for the various issues of Government loans towards the lose of the week, but the drop in price was confined to about 10s to £l. Business in 3J per cent. Stock, 1939-43, at £lO3, and 4 per cent. Stock, 1952-55, at £lO7 10s, was recorded at the close of the week. SALES ON 'CHANGE. £ s. d. Mount Lyell (2) 110 Kildare 02 9 SALES REPORTED. N.Z. Breweries (2) 2 15 0 4 per cent. Stock, 1952-55 .. 107 [lO 0 SALES’REPORTED AFTER LAST CALL. N.Z. Breweries (3) 2 15 0 The following are yesterday afternoon’s buying and Belling quotations, which are subject to the usual brokerage:— BANKING.

NORTHERN EXCHANGES AUCKLAND

WELLINGTON Sales on ’Change Inscribed Stock, 1940, 4 p.c... 102 0 0 Inscribed Stock, 1946, 4 p.c. .. 104 la 0 Commercial Bank of Australia (late Thursday) 0 17 0 National Bank of N.Z. (late Thursday) % “ Bank of N.S.W * Bank of N.Z 2 8 2

Woolworth’g (Sydney; 3) .. 5 18 0 5 18 0 CHRISTCHURCH Unlisted Stocks Sale* Reported £ s. d. Argo Gold (2) .. 0 1 3 Listed Stocks Sales on 'Change National Bank of New Zea-

Okarito 0 5 8 Skippers (2) 0 0 3i Sales Reported Prbcera Bread (vendor shares; Thursday) 2 6 0 Procera Bread (vendor shares) 2 5 ®

BEET SUGAR ’ (United Pres* Association) (By Electric Telegraph—Copyright) LONDON, November 28. Beet Sugar: December, 4s ll^d. BULOLO SHARES LONDON, November 28. Bulolo shares, £6 6s IOJd.

BANK OF ENGLAND RETURN (United Press Association) (By Electric Telegraph—Copyright) LONDON, November 28. The following is the Bank of England return: — ISSUE DEPARTMENT. Note issue in circulation .. £401,345,467 Bank department 56,286,812 £457.632,279 Government debt £11,015,100 Other Government securities 246,300,408 Other securities 1,142,136 Silver coin 1,542,356 Gold coin and bullion .. .. 197,632,279 £457,632,279 BANKING Proprietors’ capital .. .. £14,553,000 Rest • * 3,275,657 Public deposits 19,707,107 Other deposits (bankers) .. 90,887,211 Ot&er accounts 36,535,799 £164,958,774 Government securities .. .. £85,544,999 Discount advances .. .. 9,499,737 Securities 12,820,320 Notes in reserve 56,280,812 Gold and silver coin .. .. 800,006 £164,958,774 _ The proportion of reserves to liabilities is 38.80 per cent. Short loans are quoted at f per cent.; three months’ bills at 9-16 per cent. PRICE OF FINE GOLD (United Press Association) (By Electric Telegraph—Copyright)

MELBOURNE MARKETS (United Press Association) (By Electric Telegraph—Copyright) ■ MELBOURNE, November 29. Wheat, 3s 4id and 3s 3d. Flour, £ll 12s 6d. Bran, £4 15s. Pollard, £5 ss. Oats, 2s to 2s Id. Barley: English, 2s 9d. Maize, 4s lOd. Potatoes, £7 10s to £B. Onions: Spanish, £3 10s to £4; Globes. £5 15s to £6 ss. * v RABBIT SKIN SALES (United Press Association) (by Electric Telegraph—Copyright) LONDON, November 28. At the rabbit skin sales 632 bales from Australia and 108 from New Zealand were offered, and 370 Australian and 74 New Zealand were sold. Soft-pelted advanced by 10 to 15 per cent., compared with September 26, bucks 5 to 10 per cent., and hatters fully 15 per cent. LONDON WOOL SALES (United Press Association) (By Electric Telegraph—Copyright) LONDON, November 28. At the wool sales 10,875 bales were offered, including 6076 from New Zealand and 9348 Australian and New Zealand bales were sold. There was strong Bradford and Continental competition at full rates. New Zealand scoured merinos, “Grayshills,” top, 25Jd, average 25d. Bradford is quiet. Seventies, 34d; sixty-fours, 32d; sixties, 30d; fifty-sixes, 21d; fifties, 15Jd; forty-sixes, 12$d; forties, ll^d. Messrs Dalgety and Co., Ltd., have received the following cablegram from the head office, London, dated November 28: — “ Wool sales continue very active, and, as compared with the opening rates of this series, prices show a hardening tendency for practically all descriptions, particularly skirtings. There was a very full clearance. Messrs Wright, Stephenson, and Co., Ltd., have received the following cablegram from London: — Wool .sales continue with animated competition. Continental and Bradford buyers being the chief operators. The market is very firm and in sellers’ favour. The selection of wool offered is good, and wo quote the following average realisations: —Greasy merino, 60/64, yielding 48 per cent., 12d; greasy fine halfbred, 56/58, yielding 62 per cent., 12J)d; greasy halfbred, 50/56, yielding 68 per cent., 10$d; greasy three-quarter-bred, 48/50, yielding 74 per cent., 9Jd; greasy fine crossbred, 46/48, yielding 75 per cent.,. greasy medium crossbred, 44/46, yielding 75 per cent., BJd; greasy crossbred, 40/44, yielding 76 per cent., 8d; greasy coarse crossbred, 36/40, yielding 76 per cent., greasy crossbred lambs, 46/50, yielding 74 per cent, 9d. Compared with the opening rates, the market on Thursday showed the following advances; — Merino, id per lb; fine halfbred, Id; medium halfbred, id; coarse halfbred, id; crossbreds, par to id. MOUNT LYELL SHARES (United Frees Association) (By Electric Telegraph—Copyright) LONDON. November 28. Mount Lyell shares, 16s 6d. SALE OF UNREDEEMED PLEDGES The usual miscellaneous collection of articles that find their way into the hands of the pawnbroker was arrayed before a good attendance of buyers when Messrs J. M. Samson and Co. held an auction sale yesterday of unredeemed pledges from the Union Pawn Office. Included among the articles ‘ were watches, rings, guns, musical instruments, field glasses, cameras, 'docks and carpenters’ tools. There was good bidding for all classes of jewellery, but some bargains were obtained. Diamond rings brought prices ranging up to £7 10s, and the prices for watches, some of which were of a very high grade, varied from a few shillings to £S.

during the past week: — Southland Frozen Meat (pd.) Mortgage Corporation (3) .. (2) Kaitangata Coal (2) .. . • Broken Hill Proprietary (5» Farmers’ Fertiliser National Electric .. .. .. . • N.Z. Drug (2) N.Z. Breweries (8) .. . • Electrolytic Zinc (ordv 2) .. Mount Lyell (2) Upper Watut (2) £ s. 2 11 0 17 6 5 6 5 6 5 3 18 0 5 0 5 1 2 1 2 1 8 0 19 0 13 4 0 2 15 2 15 2 15 2 15 1 15 ttl 1 ft 1 1 0 7 0 3 d. 6 0 0 3 0 0 8 9 3 0 0 6 0 0 0 1 6 9 0 3J 0 1 1 Bendigo Goldlight (2) . • . , 0 0 3J Gillespie’s Beach. (2) .. 0 1 1 Kildare .. 0 2 9 Skippers .. ..' • J 0 0 *44 Waipapa Beach 0 1 Waitahu 0 3 0 3J p.c. Stock, 1938-43 .. 103 0 0 4 p.c. Stock, 1952-55 .. .. 107 10 0 UNLISTED STOCKS. Woolworths (Sydney) 5 18 5 18 6 9 5 17 0

Buyer. Seller. f B. d. £ B. d. A’asia ., .. .. .. — 11 15 0 N.Z 2 8 0 2 10 0 Commercial .. 0 17 0 0 17 5 Natl, of N.Z. • 3 14 6 5 15 0 6 0 0 Union . 9 8 0 — INSURANCE. National — 0 19 10 New Zealand .. .. — 3 5 6 South British .. .. 4 13 6 — 0 Standard — 3 10 SHIPPING. Huddart, Parker ui P S. Co. (pref.) 1 7 1 7 0 4 — MEAT PRESERVING. N.Z. Refrig, (paid) — 1 2 6 N.Z. Refrig, (cont.) — 0 10 11 South. Froz. Meat 18 (paid) — 3 0 LOAN AND AGENCY. Goldsbrough, Mort 1 11 0 1 12 6 Mortgage Corpora0 6 tion 0 5 2 5 Perpetual Trustees 3 3 0 3 0 0 Trust'ees, Executors 3 3 0 — Wright, Stephenson 18 (ord.) .. ' , , 0 6 Wright, Stephenson 0 (pref.) — 1 0 COAL. Pukemiro 1 4 0 1 5 6 Westport .. .. — 1 2 9 Weslport-Stockton 9 (pref.) .... .. — 0 2 MISCELLANEOUS. Broken Hill Propy. — 2 17 9 Brown, Ewing 0 14 6 D.I.C; (pref.) .... 1 3 0 — 0 Dominion Fertiliser • —- 1 4 Dominion Fertiliser (debs.) 108 0 0 • Dominion Rubber 1 4 0 — Dunedin-Kaikorai 1 18 0 Stock Exchange Proprietary 1 18 0 2 0 0 Milburn Lime — 2 4 9 National Electric 0 12 9 0 13 9 N.Z. Drug iGo. 3 19 0 4 0 6 N.Z. Newspapers .. 2 1 0 — WOOLLEN COMPANIES. Bruce (ord.) — 0 14 6 Bruce (pref.) ' 1 1 9 Kaiapoi (pref.) .. — 0 0 18 6 Mosgiel .. .. .. 10 0 10 5 0 Oamaru .. .. 1 1 9 1 2 6 BREWERIES. N.Z. Breweries .. 2 14 .9 2 15 6 AUSTRALIAN MINING. Electro. Zinc (pref.) 1 18 6 — Electro. Zinc 1 , ford ) 1 14 3 15 3 Mount Lyell .... tti o 10 1 1 4 Mount Morgan .. — 1 17 0 Upper Watut ...... o 6 6 0 7 3 MINING. Bendigo Goldlight 0 0 3i 0 0 4 Big River .. .. 0 1 10 0 2 0 Gillespie’s Beach .. 0 1 0 0 1 2 Goldfields Dredging 0 0 24 0 0 tty King Solomon 0 3 i 0 — 0 3 0 1 6 — 0 5 6 0 5 11 Sandhills 0 0 5 Waitahu .. .... —- 0 3 1 Martha — 1 1 6 UNLISTED STOCKS. John Fuller and 0 Sons (debs.) .. 82 0 r-v : ! : Wool worths (Syd5 17 0 0 nev) S 18 Quartz Mountain.. 0 , 9 6 0 ii 6 Mount Morgan De 6. 0 4 9 velopments ■ ■ ■ • 0 3 Fuller-Haywards 60 0 (debs.) — 0 GOVERNMENT LOANS. 34 Stock, Nov., 1938-52 ■ 103 0 0 34 Stock, March, ‘ 1939-43 102 0 0 — 34 Stock, Sept., 102 0 1939-43 0 —. 34 stock. May. 103 0 0 1939-52 —■ 4 Bonds, 1937-40.. 101 10 0 — 4 Stock, 1937-40.. 101 10 0 — 4 Bonds, 194346.. 104 0 0 4 Stock, 1943-46.. 104 0 0 — 4 Bonds, 1946-49.. 104 5 0 — 4 Stock, 1946-49.. 104 5 0 iS Bonds, 1952-55.. 107 0 0 — 4 Stock, 1952-55.. 107 0 0 — ft Cum dividend.

Sales on ’Change £ B. d. 101 17 6 106 10 0 Commercial Bank of Australia 0 0 17 17 0 1 E.S, and A. Bank . • • • • • 5 10 6 Bank of New Zealand .. .. 2 10 8 0 9 Reserve Bank 5 5 10 14 6 6 N.Z. Insurance 3 3 0 South British Insurance 4 13 6 Mortgage Corporation .. .. 0 5 3 9 1 15 10 1 15 1 16 0 Wellington Gas .. .. • • •• 1 19 9 Australian Iron and Steel 1 5 2 2 i 3 0 3 6 1 10 0 0 1 6 0 2 2J Mount Morgan 1 16 9

Reserve Bank • 5 10 0 (2) 5 11 6 N.Z. Guarantee Corporation.. 0 5 0 Christchurch Gas .. . • • ■ 1 16 3 N.Z. Breweries (3) ' 2 15 5 15 0 2 Staples Brewery (2) 1 10 0 British Tobacco 2 1 2 1 0 1 2 1 3 Dunlop Perdriau .. 0 16 0 Procera Bread (vendor; late Thursday) 2 5 0 Unlisted Stocks

land (2) a 12 6 3 12 0 3 12 3 3 12 0 Bank of New South Wales (cum div.) 33 2 0 Bank of New Zealand (cum div; 2) 2 8 0 Reserve Bank (2) .. .. . ; .. 5 15 0 5 14 0 and Co. (ex div.) .. 8 7 3 Christchurch Gas 1 16 3 (10s paid) 0 16 n New \Zealand Breweries .. 2 15 2 Tooths Brewery (cum rights) 2 15 2 15 3 0 Anthony Hordern ., . i .. .. 0 19 5 British Tobacco 2 1 1 Broken Hill Pty. 2 17 2 17 3 1 Electrolytic Zinc (ord.) .. ..' 1 14 6 G. J. Coles (3) 3 5 5 Procera Bread (vendor shares) 2 2 2 3 0 0 Gillespie’s Beach 0 1 i Kildare 0 1 0 Mount Lyell 1 1 2

Staples brewery 1 10 0 New Zealand Breweries (2) .. 2 15 2 Christchurch Gas 1 16 0 1 15 10 N.Z, Refrigerating (£1 paid) 1 2 1 Mortgage Corporation (5s paid) South British Insurance .. 0 5 7 4 14 9 Bank of New Zealand (cum div.) .. .. ' 2 8 2 Bank of' New South Wales (cum div.) 33 6 0 33 0 0 National Bank of New Zealand • ■ • • ..3 14 0 Commercial Bank of Australia (pref.) .. .. .. .. 9 14 6

LONDON. November 28. f s. d. November 28 .. 7 0 11 November 27 .. 7 1 0 November 26 .. 7 0 11 V November 25 .. 7 o ni November 23 .. 7 0 11 November 22' .. 7 1 3 November 21 .. 7 1 5 November 20 .. 7 1 4i