COMMERCE AND FINANCE

Otago Daily Times, Issue 23857, 11 July 1939, Page 14

COMMERCE AND FINANCE

THE SHARE MARKET >DUNEDIN STOCK EXCHANGE FIRM TONE CONTINUES New Zealand Government loans and Dominion and Commonwealth industrials maintained a strong inquiry on the Dunedin Stock Exchange, but * sellers were very reticent and no sales were recorded. The bids for Government loans were 'firm'at the values ruling prior to the " week-end, but no sellers came forward. The best offer for Bank of New Zealands was £1 18s, 9d separating buyer and seller at the close of the market. "New Zealand Insurances came on to . the market at £2 13s after an offer of £2 10s 6d had been put forward, but the close came with no improvement. Buyers of Broken Hill Proprietaries • advanced their bid another 3d to offer £3 7s 3d and the offer for Coles rights went up to £2 lQs-9d. no sellei responding in either case.. Hume Pipes also advanced by 6d on buyer s quotation to £1 0s 6d. Milburn Limes, New Zealand Drugs and New Zealand Paper Mills continued in demand without finding, sellers and there were no alterations ir the Australian mining section. LATESI QUOTATIONS " ' The following are yesterday afternoon's ' buying-and selling quotations, which arc subject to the usual Votteraee--GOVERNMENT LOANS Buyer Sellet. £. a d £ ■ d

DIVIDENDS PAYABLE The following is a list of shares on which dividends will shortly be payable:— .. Woolworths (N.Z.)—lnterim 3d '•.. ~ July 15 Woolworths Proprieties (pref. ord.)—lnterim. 7 l-5d .. July 15 6. J, Coles (A pref.)—Halfyearly, 8 p.c. p.a July 15 Okaritp—lo p.c. 6d a share .. July 22

«*.« , . LOCAL AND OVERSEAS MARKETS

FOREIGN EXCHANGES ON NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, yesterday quoted the following rates for purchases and sales of foreign exchange : London— Buying. Selliiii;.

South Africa—£|N.Z.to£loo ... > O.D. 122/17/- 124/17/All rates subject to alteration without.notice. DOLLAR RATES The Associated Banks (other than the Bank of New South Wales) yesterday quoted the following dollar rates oil "a New Zealand currency basis. They are. subject to alteration without notice;—. . ... U.SiA. .Canada. <Per;£l (Per£l N.Zv) N.Z.) Dols. Dols. O.D. .. .. 3.72 7-16 3.731 BUy Q$7.. .3.78 3.79 1-16 AUSTRALIAN STOCK EXCHANGES (United Press Association) (By Electric Telegraph—Copyright) SYDNEY, July 10. (Received July 10, at 10 pjn.) A -steady tone was noted on the Stock Exchange to-day and reflected the more hopeful outlook on the European situation. Firm buying offers came for Colonial Sugars and Broken Hill Proprietary. The Morning Sales £ 8. <L

LONDON WOOL SALES Messrs Murray, Roberts, and Co. Ltd., are in receipt of the followtne cablegram from London, dated Jul.y 7:—The following vessels have arrive-! in time for the consignments of wool by them to be offered in the next series:—California!! btar. Dominior Monarch. Mahana. Otaio. Pakeha. Tairoa. Waiwera.

WELLINGTON Sales on 'Change

CHRISTCHURCH Sales on 'Change

NORTHERN EXCHANGES AUCKLAND Sales on 'Change

MINING NEWS OKARITO RETURN A recovery of 230 z 13dwt for 132 hours' dredging is reported by the Okarito Five Mile Beach Gold Dredging Company. GILLESPIE'S BEACH The Gillespie's Beach Gold Dredging Company reports a wash-up of 440 z 13dwt for 133 hours from 16,343 yards CLUTHA RIVER DREDGING For the week ended July 7 the dredge of Clutha River Gold Dredging, Ltd.. operating at Alexandra, worked 122 hours and recovered 1530 z cf gold WORKSOP RETURN The Worksop Extended Dredge recovered 330 z in 125 hours from 11.000 yards during the week ended July 6. BIG RIVER MINES The mine report for the week ended July 6 of Big River Mines, Ltd., states:—No. 5 level—North stope. south end: Work suspended. Men off work. North stope: Stone 2ft 6in. North level: Advanced 6ft. Total 12ft. Boulders of quartz at intervals. No. 6 level—Advanced sft. Total 12ft. Winze: Sunk 3ft. Total, 47ft. Stone sft wide Battery—4s tons of stone sent to the battery. S MATAKI DREDGE RETURN <Pkh United Fbess association* AUCKLAND, July 10. The Mataki return for the week ended July 7 was 31 ounces for 133 hours' work from 11,400 yards. Scott Bros., produce merchants and commission agents, agents for the Dunedin Egg Suppliers' Association, report:—Eggs: The associated, agents quote poultry farm egas at IslOd per dozen, seconds Is 8d per dozen;, served eggs, slow, Is 5d to Is 6d per dozen. Separator butter: Wanted. Is to Is 2d per lb. Honey: Bulk 7Jd W 7Jd per lb, 101 b tins 7s 9d each. Jib tins 4s 6d each. Beeswax Is to Is 3d per lb. Poultry: Good inquiries. Hens to 2s 3d each, heavy breeds 2s 6d to 3s each, roosters Is 6d to 2s eacn, cockerels 3s to 8s 6d each, ducks 2s to 3s each, duckling up to 4s each, geese 3s to 3s 6d each, goslings 3s 6d to *s each. Turkeys: Gobblers Is to Is 2d ner lb. hens lid to Is per lb. Pigs: Prime baconers to 7d per lb. porkers fiid to 7d per lb. Fat: Nominally 8s to 10s per cwt. Potatoes: Whites to £l4 per ton, King Edwards at higher values. Onions: Canterburys 19s t>ei bag. Partridge peas to 9s per bushel, sacks extra. Whole fowl wheat 6s to 6s 9d per bushel, sacks extra. Cape barlev 5s 6d Der bushel, sacks extra. Barlev 17s 6d per sack, s.i. Smutty barlev 15s. sacks in. Barley pollard 10s per 1501 b. s.i. Whole maize 8s per bushel. Oats: Gartons 2s 9d to 3s 3d per bushel, sacks extra. Oat dust 4o 6d Der 100 lb. s.i. Swedes Is 6d to Is 9d per sugar bag. s.i. Carrots 4s to 4s 6d per sugar bag. s.i. -Parsnips 4f 6d to 6s per sugar bag. s.i. Chart: Prime oaten sheaf £4 10s to £5. ex trucks, £5 10s ex store. Lags extra. Oyster grit 6s 6d per 1001 b bag. Straw. Wheaten 2s 9d per bale, ex store. Lucerne meal 12s 6d per 1001 b bag. Lucerne chaff 8s per sack. Wanted.—Carrots, swedes. peas, beans, marrows, etc. Free use of fowl crates on application. Green food cutters, Doran Brooders, grit mills, chick raising supplies;. Prices on application'. July 10.

34 p.c. Stock Mar. 98 0 0 SJ p.c. Stock, Sept., 98 0 0 5 p.c. Stock, 1939-41 .. 96 0 0 — 4 p.c. Stock, 1940-43 .. 98 5 0 _ 4 p.c. Bonds, 1943-46 .. 98 5 0 »- 4 p.c. Stock, 1943-46 .. 98 5 0 '."-" 4 p.c. Bonds,1946-49 .. 97 5 0 — . 4 pc. Stock, 1946-49 .. 97 5 0 97 12 6 4 p'.c. Stock, .. 95 15 0 • " ' MIN1NO Austral New Zealand — 1 4 3 Big River (Is) .. .. 0 0 61 Clutha River (2s) .. 0 1 3 ■ — Gillespie's Beach (Is) — 0 0 iui Goldfields Dredging (Is) '.. • ' — '. 0 0 2 Mossy Creek (Is) ,, — 0 1 1 ■ Nokomal (5s) .... 0 1 9 D 2 0 " Okarito (5s) .. — 0 S 9 Sandhills (Is) .. •• 0 0 1 0 0 2 .Waihi Investments — 0 7 3 Waitahu (5s) .'. ., 0 0 71 *— BANKING N.S.W.' (£20) :• .. ■ .. —. 31 0 0 1 18 0 1 18 b> Commercial (10s) 0 16 2 '^-~ Natl.'of N.Z.(£2 10s) — 2 6 0 Union (£5) .. .'. — 8 2 6 INSURANCE National (7s) .. .. 0 16 S 0 16 10 . New Zealand (£1) .. 2 10 6 2 13 0 ; Standard (£1) ... •• 2 13 3 r 1 " SHIPPING Howard Smith (£1) - 1 1 6 MEAT PRESERVING ,N.Z.Refrig. (paid; £1) 0 15 8. ' — N.Z. Refrig (cont.; • 10s) .. ;; .. •• 0 7 S "~ ' LOAN AND AGENCY Gojdsbrough, Mort : 16 0 — ;:NJS: Guar. Corp. (3s) 0 4 0 — -/. Otago Farmers (3s 4d) .. ,. ,.', .. 0 2 0 0 3 9 Trustees, Executors .- (£3) .. •• .,..;.... -40 ,9. — Wright, Stephenson ' (pref,; £1) ■• ■• ., '—, 0 19 4 GAS . Auckland (£1) , •■. — 0 17 6 COPLAND OIL Kaitangata (16s) ;' — 1 8 6 Westport (10s) ■ ......" '■'.'■ , '~?' ; 1 o 7 '. •Westport - Stockton '•"'■' (pfel.; r 10s) .. .. 0 7 6 P 8 3 WOOLLEN COMPANIES • Bond's "Hosiery (£1) —■ 1 1 0 -Bruce (pref.; £1) .. — 10 0 -Xalapor (pref.; 17s) ■'.. • ; — 0 15 0 iGtmaru (£1) .. .. 0 14 6 — MISCELLANEOUS ' - Hill Propy. v (£1) .... 3 7 3 —■ Brown, Ewlng (pref.; :jti) ' -.... .., ... ■;. ■ — 1 2 0 :0XC. (pref.; £1) .. 1 1 6 — .Dominion Rubber (£1) — 0 17 6 , ■■■<*',' J. Coles (rights) 2 10 9 — . Hume Pipe (£1) .. 1 0 6 . — ; I.C.I.- (pref.; £1) .. — 1 4 9 : Mllburn Lime (£1) .. 1 15 6 — : National Electric (£1) — 0 14 0 s N.Z. Drug Co. (£2).. 3 8 0 — •N.Z. Paper Mills (£1) 1 4 9 — . Otago Dally Times <£1J ..: — 2 0 6 Regent Theatre (£1) — 1 1 6 Woolworths (Syd.; — 1 4 6 Woplworths Proper- \ . ties, Ltd., 6 p.c. (pref., ord.; £1) ..... 1 * 8 — Woolworths Proper- . ties (rights) .. ... 0 1 0 0 1 9 BREWERIES 1T.Z. Breweries (£1) 1 16 9 — \ Tooths (£1) .. .. 2 15 0 — \ AUSTRALIAN MINING Electro. Zinc (pref.: .. £1) 2 15 0 . — Emperor (10s) .. .. 0 10 0 — Mount Lyell (£1) .. 1 7 0 1 8 0 Mount Morgan (2s 6d) 0 10 6 0 11 0 Mount Morgan (pref.; — 1 3 9

£1 N.Z. to £100 T.T. 124/7/6 123/-/-O.D. 123/18/9 124/19/6 Australia— £ A to £ 100 XZ. T.T. 100/-/-O.D. 100/10/100/-/- £ F ;j £100 N.Z. T.T. 90/-/-88/12/6 O.D. 90/-/-88/12/6 .Now York— : Dollars to £ N.Z. T.T. 3.7747 3.7313 • i O.D. 3.7797 3.7323 Montreal— • Dollars to £ N.Z. T.T. 3.7800 3.7409 O.D. 3.7896 3.7419 Belgium— Belgas to £ N.Z. T.T. 22.237 21.947 O.D. 22.332 .21.932 Czechoslovakia — Korunas to £ N.Z T.T. — — O.D. — — Denmark— Kroner to £ N.Z. T.T. 18.140 17.830 O.D. 18.200 17.832 Finland— Marks to £ N.Z. T.T. 184.85 179.03 O.D 183.23 179.15 France— Francs to £ N.Z. T.T. 142.98 110.48 O.D. 144.23 140.50 Germany— RelcliRmarks to £ N.Z. • .. .. T.T. — 9.267 O.D. — 9.269 GreeceDrachmae to £ N.Z. T.T. — ' 429.20 O.D. — 429.35 HollandFlorins to £ N.Z. T.T. 7.163 7.013 O.D. 7.203 7.015 Italy— Lire to' £ N.Z, T.T. — 70.95 O.D. — 70.97 JavaFlorins to £ N.Z. T.T. 7.138 6.988 1 O.D. 7.178 6.990 Norway— i , Kroner to £ N.Z. T.T. 16.126 15^836 O.D. 16.186 15.839 NoumeaFrancs to £ N.Z. T.T. 145.48 138.73 O.D. 146.98 138.92 PapeeteFrancs iO £ N.Z. T.T. 144.88 138.88 O.D. 146.38 138.92 SwedenKroner to £ N.Z. T.T. 15.743 15.448 O.D. 15.803 13.43! SwitzerlandFrancs to £ N.Z. T.T. 16.807 16.537 O.D. 16.907 16.540 Chefoo— N.Z. pence t» 1 'dollar .. T.f. O.D. Hongkong— N.Z. pence to 1 dollar .'. . • T.T. 18 21-64 18 45-64 O.D. 18 19-64 18 43-64 India and Ceylon— N.Z. pence to 1 lupee '.. .. t:t. 22 3-16 22 15-32 O.D. 22 5-32 22 15-32 Japan— N.Z. pence to 1 yen .. T.T. — 17 37-64 O.D. ' '.— 17 37-64 Manila— N.Z. pence to 1 peso .. • •■ T.T. 81 33-64 32 7-3 J O.D. 31 27-64 32 7-32 Shanghai— ;'•'•■ • N.Z. ponce to 1 dollar .. .. T.T. O.D. ■_ ' : — Singapore— N.Z. pence to 1 dollar .. .. ■T.T. 34 51-64 35 9-32 O.D. 34 45-64 33 9-32

Commonwealth Bonds— 3 per cent., 1948 .. ... 92 17 6 3£ per cent., 1948 .. ... 96 10 0 3ifinercent., 1943 .. .. 99 5 0 4 per cent., 1941 .. 101 0 0 4 per cent., 1950 .. .. 101 15 0 Bank of New South Wales.. 28 7 0 Australian Gas (A, old) . 7 3 0 Associated News .. , . 0 18 C Anthony Hordern (pref.).. 0 19 J Aust. Consol. Industries .. 1 14 0 Broken Hill Pty. 3 2 6 Additional Sales Bank of New South Wales 28 10 0 National Bank (£5 paid) .. 6 2 0 Queensland National Bank 4 14 0 10 0 0 Colonial Sugar .. ... 45 10 0 0 18 0 (prel.) 1 0 6 Howard Smith 0 19 1 Australian Gas (A; old) .. 7 3 0 (B; old) 7 3 0 British Tobacco .. .. 2 7 0 1 1 9 Australian Con. Industries 1 14 n 0 16 6 Anthony Hordern (N.Z. del.) 0 14 2 (pref.) 0 19 9 0 13 6 1 10 6 0 15 0 1 7 7 1 13 0 3 13 0 Carpenter (N.Z. del.) .. 2 0 6 Morris Hedstrom (Fiji del.) 1 5 0 2 10 0 Electrolytic Zinc .. 2 7 3 Mount Lyell 1 5 0 Broken Hill Proprietary .. 3 2 7 1 5 6 Oil Search ..' 0 3 9 MELBOURNE, July 10. £ s. d. Comm. Bank of Australia 0 15 0 Australian Con. Industries 1 14 0 2 6 6 Placer Development .. 3 8 0

Stock, 1943-46 (4) .... X. s. 98 15 0 Stock, 1946-49 (4) .... 97 12 0 Auckland Transport Board, 1944-50, 44 p.c 98 5 0 Commercial Bank of Australia (2) 0 16 6 New Zealand Insurance .. 2 11 0 Farmers' Auct. (B pref.) .. 0 19 0 Farmers' Auct. (A pref.) .. 1 0 3 Claude Neon (N.Z.) .. .. 0 18 0 Reid (N.Z.) Rubber (15s 1 3 0 Farmers' Trading .. 0 18 3 G. J. Coles (rights) .. 2 11 0 2 14 0 Taranaki Oil Fields (late Sat.) 0 6 5 W. R. Carpenter (2) .. 2 4 0 M.K. Manufacturers .. .. 0 5 0 1 4 0

Auckland Transport Board, 41 p.c.1944-50 98 10 0 1 5 6 1 17 3 0 10 5

N.Z. Government 4 p.c. inscribed. 1946 Woolworths <Syd.; ord.; 5) Sales Reported E.S. and A. Bank .. N.Z. Insurance (cum div.) N.Z. Guarantee Corporation W. R. Carpenter 98 15 0 1 4 1 4 19 0 2 11 0 0 3 11 2 4 3