COMMERCE AND FINANCE

Otago Daily Times, Issue 23108, 6 February 1937, Page 10

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE ■ The following is a list of the business ' transacted on the Dunedin Stock Ex-

Unlisted Stocks National Tobacco 'J J Woolworths (Sydney) •• ■• v 8 , A fairly large volume of business was transacted on the Dunedm Stock' Exchange during the past week, some 70 parcels of shares finding purchasers. As in previous periods, the markets for the majority of good investment securities remained Arm during the Week " BANKS INACTIVE There was little activity in banking shares. Several parcels of New Zealands changed hands at £2 os. 6d, the market showing a slightly easier tone at the conclusion, when buyers offei ed £2 0s 3d and sellers asked £2 is. Commercials were;: in demand at i»s ' 3d, ex dividend, sellers'lowest requirement being 19s 8d : The Preference issue was also inquired for at £», out sellers did not show any interest. L.S. and A. Banks were dealt in at £o 4s, the market closing with a buyer at he same figure and a seller at £6 10s. Union Banks met with an improved inquiry at £lO Bs. but sellers did not come forward. INSURANCE, SHIPPING, AND MEAT ■ National Insurances which were dealt with at 18s 3d, showed a fractional improvement at the end of the period, buyers offering 18s 2d. Sellers however, remained firm at 18s bd. New Zealand Insurances were noticefirmer at £3 Is 3d, but sellers showed no interest. Standards, also improved, buyers offering £2 17s. Sellers however, would not accept Jess tWn £2 19s. There was no change in the market for shipping company snares. P. and O. Deferred Stocks continued to be inquired for at -&1 Ujfe and Union Steam preferences at; £1 5s lOd. A-sale of the former at £1 17s 2d was reported.. Paid-up Nevlr ,2teland Refrigerating shares were the subject of business at £1 0s sd, a closing sellers at £1 Os 6d being unan swered. There was some activity in the contributing iss ue ; P ar^ s 9 i han h 8; ing hands at from 9s 4d to 9s 2d. rh* ss& sssfJw arwsts were reticent. LOCAL AGENCIES FIRM Goldsbrough, korts were on offer at the slightly easier figure of £1» 6d but buyers would not give more that £1 ifs 9d National .Mortgage were inquired for at £2 18s, cum dividend; but sellers were reticent A sale at the same figure was reported.

LOCAL AND OVERSEAS MARKETS

New Zealand Guarantee Corporations showed a slight improvement, with a buyer at 5s 3d, but sellers did not respond. Ordinary Wright Stephensons were inquired for at ibs, ex dividend, and the preference issue was also in demand at 19s, ex dividend, no sellers coming forward. Otago Farmers continuel to be inquired for at as act, without sellers responding. COAL AND WOOL There was no change in the market for Kaitangata Coals, which were in demand at £1 Is to. Westports were disposed of at £1 4s, the market closing with a buyer at £1 3s and a seller at -21 4s 6d. Ordinary Bruce Woollens were on offer at the easier figure of 13s, but buyers were not interested. Kaiapoi ordinary shares were in demand at 14s 3d, sellers asking 4s lOd. Mosgiels were the subject of a steady inquiry at £9 16s. MISCELLANEOUS SHARES ACTIVE Associated News preference shares met with a slightly .easier inquiry at £1 3s 9d. no sellers coming forward. Australian Glasses, which were dealt in at £4 13s 3d, were inquired for at the same figure at the end of the week, sellers asking £4 14s 6d. Broken Hill Proprietaries continued in easier inquiry, buyers' best offer at the close ct the period being £4 Os 6d, while sellers asked £4 Is 6d. The contributing issue changed hands at from £3 7s 6d to £3 8s 6d, a final seller at £3 9s being unanswered. Dominion Fertilisers were the subject of business at £1 4s 6d, the market showing an easier tendency at the close, when buyers offered £1 4s, and sellers asked £1 4s 9d. Dunlop Rubbers changed hands at 19s, the closing buying and selling quotations being 18s lOd and 19s Id. The market for G. J. Coles' shares was very erratic during the week, sales being recorded at from £4 17s to £5 Is 6d and down again to £4 19s 6d. The best buying offer was £5 Is 3d, but at the close of the period buyers offered £4 19s 6d, which was 6d below sellers requirements. Hume Pipes were disposed of at £1 Is 6d, there being a firmer inquiry at £1 Is 8d at the close of the week, when sellers asked £1 Is lid. M'Leod Bros.' shares changed hands at £32, a final buyer at £3l 5s being unsupplied. Ordinary Woolworths' shares were also the subject of business at £7 2s 6d and £7'3s, the market closing with a seller at £7 ss.and no buyers forward. BREWERIES IN DEMAND There was a slightly easier inquiry for New Zealand Breweries, buyers offering £2 16s 6d. Sellers, however, would not accept less than &2 17 s 6d. Business at £2 17s 3d and £2 17s was recorded earlier in the week. Dominion Breweries improved noticeably, buyers' closing offer being £2 4s. Business at £2 2s 6d and £2 4s 6d was reported. Dunedin Breweries also met with a better inquiry at £1 8s 9d, sellers asking 9d above that figure. A transaction at £1 8s 6d was reported. MINING Broken Hill Souths, which were dealt in at £2 6s and £2 7s 9d, were in good demand at £2 7s 3d, sellers asking £2 8s 6d. Electrolytic Zinc preference shares met with a firmer inquiry at £2 16s and the ordinary issue also improved, buyers offering £2 14s 9d. Buyers of Mount Lyells were prepared to give £2 2s 9d, but sellers would not do business below £2 3s 3d. Sales at from £2 Is lid'to £2 3s were recorded. There was an easier inquiry for Mount Morgans, buyers' best offer at the close of the week being 16s Gd, which was 3d below sellers' requirements. New Zealand mining shares continued quiet, three sales, two of Nokomais at 2s 6d and one of Waipapa Beaches at 9d, being recorded. GOVERNMENT LOANS Government loans continued to meet with a steady inquiry. . Business in 4 per cent. Bonds. 1943-46 at £lO3 7s 6d, the same issue Stock at £lO3 10s, and 4 per cent. Stock 1952-55 at £lO3 ss, was reported. SALES ON 'CHANGE

NORTHERN EXCHANGES AUCKLAND Sales on 'Change

LONDON STOCK EXCHANGE (United Press Association) - (Bi Electric Telegraph Copyright I LONDON, Feb. 4. The following are the latest quotations lor Government securities compared with the prices ruling last week:—

change during the past week: £ s. d Bank of New Zealand ((>) .. E.S. and A. Bank ..... .. National Insurance (3) P. and O. Deterred Stock .. N.Z. Refrigerating (paid) '.. N.Z. Refrigerating (cont.) (3) (5) 2 0 6 6 4 0 0 18 3 1 17 2 1 0 5 0 9 4 0 9 3 0 9 2 National Mortgage .. •• Australian Glass . • Broken Hill Propy. (cont.) 2 18 0 1 4 0 4 13 3 3 7 6 3 8 3 3 8 6 Dominion Fertiliser .. .. Dunlop Rubber (2) .. (2) 1 4 6 0 19 0 4 17 10 4 18 0 5 0 9 (2) 5 1 0 5 1 3 (3) 5 1 6 4 19 9 4 19 6 Woolworths (ord.)- .. •• 32 0 0 1 1 9 3 16 6 7 2 6 7 3 0 New Zealand Breweries (3) 0 19 0 2 17 3 2 17 0 ■ Dominion Brewery .. .. (2) 2 2 6 2 4 6 Dunedin Brewery .. •• Broken Hill South .. •• 18 6 2 6 0 2 7 9 ' Electrolytic'Zinc (pref.) .. Electrolytic Zinc (ord.) '• 2 15 4 2 15 0 2 1 11 2 2 0 (2) (2) Austral-N.Z. Mining (9s paid) 4 p.c. Bonds, 1943-46 .. 4 p.c. Stock, 1943-46 .. ... 2 2 4 2 3 0 0 10 9 0 2 6 0 0 9 103 7 6 103 10 0 103 5 0

£ s. d, 4 19 9 0 2 G SALES REPORTED Hume Pipe (late Thurs.) .... 1 1 9 2 0 6 N.Z. Refrigerating (pd.) .. .. 1 0 5 N.Z. Refrigerating (cont.) .. .. 0 9 3 4 13 3 5 1 0 2 4 (i 2 3 0 4 per cent. Bonds, 1943-46 .. 1 103 7 6 SALES REPORTED AFTER LAST CALL Bank of New Zealand (2) .. .. 2 0 6 N.Z. Refrigerating (cont.) .... o y 2 4 19 6 The following are yesterday afternoon's buying and selling quotations, which i ire subject to the usual brokerage:— BANKING BUyer. Sellei £ S, d. £ s. d. — 2 1 0 Commercial (10s) .. **0 19 3 0 19 8 Commercial (pref.; £10) **9 0 0 — E.S. and A. (£3) .... 6 4 0 6 10 0 Natl, of N.Z. (£2 10s) — 3 4 0 Union (£5) ...... 10 8 0 ■ — INSURANCE National (7s) 0 18 2 0 18 c New Zealand (£1) .. 3 13 — Standard (£1) .... 2 17 0 2 19 0 SHIPPING Howard Smith (£ 1 )\ '. — 13 6 P. and O. Def. Stock (£1) .. 1 17 0 — U.S.Si Co. (pref; £l.i 1 5 10 - MEAT PRESERVING Canterbury Meat (preL; £5) .. .. .. — 6 10 0 • N.Z. Refrigerating (pd.) (£1) — ■ 1 0 6 N.Z. Refrigerating (cont.; 10s) 091 0 9 3 South. Froz. Meat (paid; £1) 3 15 0 — Waitaki Farmers (£5) 4 5 0 — LOAN AND AGENCY Goldsbrough, Mort (£1) 1 17 9 1 8 6 Mortgage Corporation 98 10 0 National Mortgage (£2) ........ .. 2 18 0 — National Mortgage (B issue; £1) ...... 1 13 0 — N.Z. Loan and M. (ord.; £100) — 44 0 0 N.Z. Guarantee Corporation (3s) .... 0 5 3 — Perpetual Trustees (18s) — 3 4 0 Trustees, Executors — Wright, Stephenson (ord.; £1) .... .. *0 18 0 — Wright, Stephenson (pref.; £1) .... .. *0 19 0 1 0 0 Otago Farmers (3s 4d) 0 3 9 — COAL Kaitangata (10s) .. 116 — Westport (10s) .. ..1 3 1 1 4 6 WOOLLEN COMPANIES Bruce (ord.; £1) .. — 0 13 0 Bruce (pref.; £1) .. — 1 2 9 Kaiapoi (ord.; 17s) .. 0 14 3 0 14 10 Kaiapoi (cont.; 7s) .. — 0 6 0 Mosgiel (£4) .. .. .. 9 16 0 — MISCELLANEOUS Anthony Hordern (£1) 10 6 1 1 0 Associated News (pref.; £1) 13 9 — Australian Glass (£1) 4 13 3 4 14 6 British Tobacco (£1) 2 10 0 — Broken Hill Prpy. (£1) 4 0 6 4 1 3 Broken Hill Propy. (cont.; 10s) .... — 3 9 0 Brown, Ewlng (ord.; — Colonial Sugar (£20) 42 10 0 — Crystal Ice (£1) .. — 2 6 0 D.I.C. (ord.; 10s) .... 0 15 9 — D.I.C. (pref.; £1) 13 9 — Dominion Fertiliser (£1) 14 0 1 4 9 Donaghy's Rope (£1) 2 11 0 — Dunlop Perdriau Rub0 19 J

General Industries (12s 6d) — 1 0 fi G. J. Coles (£1).. .. 4 19 6 5 0 0 Hume Pipe (£1) .. 1 1 8 1 1 11 Milburn Lime (£1) 2 2 0 — Mort's Dock (£1) .. — 0 13 G M'Leod Bros. (£10) 31 5 0 — National Electric (£1) — 0 15 3 N.Z. Paper Mills (£1) 1 7 3 — Wilsons Cement (10s) — 2 0 0 Woolworths (ord.; £1) — 7 b 0 Shillings, Ltd. (£1) 0 10 9 — ' BREWERIES N.Z. Breweries (£1) 2 1G 6 2 17 6 Staples (£1) .. .. 2 0 0 2 1 0 Dominion (£1) 2 4 0 — Dunedin (£1) 1 f) 9 1 !) 6 Carlton (£1) .. .. — 3 5 G AUSTRALIAN MINING Broken Hill South (£1) .... .. 2 7 3 2 8 6 Electro. Zinc, (pref.; 2 15 0 — Electro. Zinc (ord.; £1) 2 14 9 2 15 6 Mount Lyell (£1) .. 2 14 9 2 15 6 Mount Lyell (£1) .. 2 2 9 2 3 3 Mount Morgan • (2s 6d) 0 16 6 0 16 9 North Broken Hill (£1) — 3 18 3 Rawang Tin (10s) 0 11 0 0 11 6 Placer Dev 5 0 0 5 2 0 MINING Argo (Is) 0 1 10 0 2 1 Big River (Is) .. .. — 0 2 0 Central Shotover (Is) — 0 0 6 Clutha River (2s) .. 0 2 R — Consol. Goldflelds 0 15 0 _ Gillespie's Beach (Is) 0 1 5 0 1 64 Goldflelds Dredging — 0 0 4 King Solomon (Is) .. — 0 0 8 Martha (5s) .. 1 0 0 — Molyncux River (2s) 0 2 3 — Maori Gully (Is) 0 0 5 — Nokomai (5s) .. .. 0 2 5 0 2 6 Okarito (5s) .. .. 0 4 0 0 4 9 Paddy's Point (5s) .. — 0 2 9 Skippers (Is) .. .. — 0 0 4 Waimumu Sluicing (Is) 0 0 11 0 1 1 Waitahu (5s) .. .. — 0 2 6 GOVERNMENT LOANS 3} p.c. Stock, Nov., 1938-B2 .. ., ..1 101 5 0 102 0 0 31 p,c. Stock, Mar., . — 102 0 0 3i p.c. Stock, Sep.. — 102 0 0 3J p.c. Stock, May, 1939-52 — 102 3 0 4 p.c. Bonds. 1943-46 103 15 0 — 4 p.c. Stock, 1943-48 103 10 0 — 4 p.c. Bonds, 1946-49 103 10 0 — 4 p.c. Stock, 1946-49 103 10 0 104 5 0 4 p.c. Bonds, 1952-55 103 0 0 — 4 p.c. Stock, 1952-55 103 0 0 103 10 0 DIVIDENDS PAYABLE The following is a list of shares on which dividends will shortly be payable: — Auckland Gas, 2J p.c., final Feb. 9 N.Z. Insurance, 10 p.c. , Is per share, half-yearly Feb. 10 Staples Brewery, 5 p.c share, half-yearly ., 4s per Feb. 11 N.Z. Refrigerating (paid), 5J p.c, Is 1 l-5d per share, Feb. 12 N.Z. Refrigerating (cont.), bl p.c, 6 3-5d per share, final Feb. 12 Gillespie's Beach, Id per share Feb. 24 National Mortgage (£2), bi p.c, Is 6d per share, halfFeb. zz> National Mortgage (£1), ei p.c, 9d per snare .. Feb. 25 Christchurch Gas, 4 p.c, halfFeb. — Wellington Gas, 5 per cent., pref., 8 per cent, ore Electrolytic Zinc (o I. .. Feb. — rd. and pref.), 12 p.c, Is 2 2-5d per • share, half-yearly Mar. 18

£ s. d. Bonds, 1946-49, 4 p.c 103 17 6 Stock, 1946-49, 4 p.c 103 15 0 City of Auckland, 1944-55, 102 10 0 Christchurch Drainage, 1940, 101 0 0 Mount Albert, 1941, 4J p.c. 101 10 0 Comm. Bank of Aust. (ex div.) 0 19 5 Bank of New Zealand 2 0 9 F%*m Co-op. (B pref.) .. 1 1 6 1 3 1 3 3 4 Dominion Breweries .. 2 4 6 New Zealand Breweries .. 2 17 3 2 17 3 2 17 li

Australian Glass (2) .. .. 4 13 0 4 1 0 Broken Hill Pty. (cont.) .. 3 8 4 Consolidated Brick .. .. 0 10 3 Electrolytic Zinc (pref.) .. 2 16 6 1 3 6 K.D.V. Boxes (cont.) .. .. 0 5 0 5 0 0 4 19 9 0 13 4J N.Z. Refrigerating (paid) .. 1 0 4 United Provisions .. 0 10 0 Broken Hill South .. .. 2 6 9 Unlisted Stocks Auckland Farmers' Freez1 1 6 Selfridges (Asia., old) 2 2 0 Selfridges (N.Z., 4s paid) .. 0 7 u 0 6 m 0 6 8 Woolworths (Sydney) 8 13 0 Woolworths (West Aust.) .. 7 7 6 WELLINGTON •/ Sales on 'Change 3£ p.c. Stock, 1939-52 (late 101 10 0 Electrolytic Zinc (late sale 2 10 9 Dunlop Perdriau (late sale 0 18 n Dominion Fertiliser (late 1 4 6 G. J. Coles (late sale Thurs5 1 5 0 0 9 Mount Lyell (late sale Thurs - 2 2 iu 103 12 " 6 103 15 0 Commercial Bank .. 0 19 5 Bank of New Zealand .... 2 0 7 N.Z. Guarantee Corporation 0 9 6 Wellington Woollen (pref.) 1 0 4 5 19 0 2 17 3 2 17 2 17 u o 1 15 6 4 1 4 1 0 3 5 0 9 " (2) 5 0 6 1 18 0 1 1 9 0 10 3 Unlisted Stocks Woolworths (W.A.) .. .. 7 6 0 Woolworths, Ltd. (late 8 13 0 8 13 6 CHRISTCHURCH Sales on 'Change N.Z. Government 4 per cent. 103 10 0 Commercial Bank of Aus- , 0 19 0 19 6 5 6 3 6 4 6 0 Bank of New Zealand .... N.Z. Refrigerating (£1 pd.) 2 0 1 0 7 4 Kaiapoi Woollens (pref.) .. 0 17 2 17 6 3 2 17 0 Anthony Hordern 02) 1 o 8 6 2 10 4 1 4 0 0 8 Broken Hill Pty. (cont.) .. 3 8 3 8 6 0 Colonial Sugar (3) .. .. 43 0 0 Dominion-Fertiliser .. .. 1 4 6 Dunlop Rubber (2) .. 0 18 u Electrolytic Zinc (ord.. cum 2 15 5 15 1 0 2 14 11 Electrolytic Zinc (pref., 6 2 16 5 0 5 1 0 3 (3) 4 19 9 1 2 9 Hume Pipe (Aust., 4) .. 1 1 8 0 13 3 1 11 9 2 3 u 2 2 10 0 16 0 16 7J 7 0 16 6 0 16 5h Sales Reported 11 1 6 Beath and Co. (odd parcel) 1 2 6 Cash Orders Amalgamated 1 4 2 Electrolytic Zinc (ord., cum 2 14 10 5 0" 5 0 u 3 Gillespie's Beach (cum div.) 0 1 6 Unlisted Stocks Alloy Steel (Aust.) .. .. 1 2 0 Alloy Steel (Aust., new) .. 1 1 0 N.Z. Perpetual Forests (4s 0 6 Woolworths (Sydney, ord.) 1 1 8 12 Woolworths (W.A.) .. .. 7 8 0 Sales Reported Christchurch Press .. .. 8 0 0 Woolworths (Sydney., ord.) 8 12 6

Jan. 28. Feb. 4. British- £ s. d. £ s. d. Consols 82 10 0 82 15 0 Funding Loan, 4 per cent. 114 10 0 115 0 0 War Loan, 3J p.c. .. 104 2 6 104 12 G Con. Loan, 31 p.c. .. 105 5 0 104 12 6 Victory Bonds, 4 per cent. 113 5 0 113 1U 0 Commonwealth — 5 p.c, 1945-75 108 0 0 108 12 6 3 p.c, 1955-58 101 3 0 101 6 3 4 p.c, 1943-48 103 10 0 103 3 9 33 p.c, 1948-53 102 5 0 102 2 (i 3i p.c, 1936-37 99 5 0 99 3 !) 3A P.C, 1958-60 95 17 6 95 17 6 New South Wale s — 4J p.c, 1935-43 99 18 9 100 0 0 Victoria— 3 p.c, 1929-40 97 17 6 93 5 0 4 : { p.c, 1940-GO 103 15 0 103 r> 0 5 p.c. 1945-75 107 10 0 103 5 0 Queensland— 3 p.c, 1932-47 98 5 0 98 0 0 5 p.c. 1940-60 106 7 6 107 0 0 South Australia— 4 p.c, 1942-62 107 5 0 108 0 3 3 p.c, 1945-75 89 15 0 83 10 0 Western Australia— 4 p.c, 1942-64 101 6 3 101 10 0 Tasmania — 3J p.c. 1929-40 101 2 0 100 12 6 4 p.c, 1940-50 100 15 0 101 15 0 New Zealand — 44 p.c, 1948-50 106 7 6 104 5 0 3i p.c, 1940 101 3 9 101 7 6 4 p.c, 1945 99 7 6 99 15 0