COMMERCE AND FINANCE

Otago Daily Times, Issue 23941, 17 October 1939, Page 5

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE WEEK OPENS QUIETLY The investment market opened the new week yesterday with a quiet but steady tone and with few alterations on the prices ruling at the end of last week Fixed term securities mei with a stiong demand, but sellers failed to ccme forward. A sale of Bank of New Zealands was reported at £1 19s and the same figure was being offered at the close when sellers were asking 9d more. Bank of Australasias were wanted at £8 10s and Commercials were practically unchanged at 14s lOd (buyer) and 15s 4d (seller). All insurance, issues were strongly in demand with no sellers in the market. Paid up New Zealand Eefrigeratings had an unsupplied buyer at 16s 9d and the contributing issue had a buyer at 8s 2d, sellers being unchanged at 8s sd. Christchurch Gas were stronger with a bid of £1 4s. The offer for A.C.l.'s went to £1 18s 3d, sellers asking £2. and Broken Hills were not quoted. Coles were again wanted at £3 lis 6d and Sydney Woolworths had a buyer at £1 3s. All New Zealand lines were well supported with few sellers forward. YESTERDAY'S TRANSACTIONS Sales Reported £ s. d. Bank of New Zealand .. 119 0 LATEST QUOTATIONS The following are yesterday afternoon t Duylng and selling quotations, which are subject 110 the usual brokerage:— '?% GOVERNMENT . LOANS

LOCAL AMD OVERSEAS MARKETS

NORTHERN EXCHANGES AUCKLAND Sales on 'Change

WELLINGTON Sales on 'Change

Unlisted Stock New Zealand Theatres, Ltd., Perpetual Debs. Stock, 4i per cent, (late Friday) 0 8 0 CHRISTCHURCH Sales on 'Change

Sales Reported New Zealand Government 3 per cent. Inscribed, 193941 98 1U 0

DIVIDENDS AND CALLS EARLY DISTRIBUTIONS The following is a list of shares on which dividends will shortly be pay-

CALLS DUE G. J. Coles—New, 10s a share Jan. 31 AUSTRALIAN STOCK EXCHANGES (United Press Association) (By Electric Telegrahp—Copyright) SYDNEY, Oct. 16. (Received Oct. 16, at 10.30 p.ih.) A stronger tone was displayed on the Stock Exchange to-day. with a substantial increase in dealings. The Morning Sales

GOODS IN GERMAN SHIPS

The Sydney Chamber ol Commerce is endeavouring to clear the uncertainty felt by consignees ot goods which were shipped from England in German vessels before the declaration of war. Most of these ships have taken refuge in neutral ports, and Australian importers are doing their utmost recover the goods for which thev have already paid. It has been de cided to appoint a joint committee representing the consignees to conduct the negotiations. The documents and bills of lading for the goods will be returned-to London immediately. The Chamber of Commerce is making the necessary arrangements.

Scott Brothers, produce merchants and commission agents, agents for the Dunedin Ege Suppliers' Association, report:— The associated agents quote poultrv farmers' es"»s at Is 5d per dozen: storekeepers. Is 3d to Is 4d per dozen. Separator butter: Wanted Is to Is 2d per lb. Honev, 6id to 6id per lb; 101 b tins 7s 9d each: 51b tins" 4s to 4s 6d each Beeswax, Is to Is 3d per lb Poultry: Good inquiries: hens 2s 6d each: heavy breeds. 2s 9d to 3s 6d each: roosters Is 6d to Is 9d each; cockerels. 3s to 4s 6d each. Ducks. 2s to 3s each: ducklings, up to 4s each Geese. 3s to 3s 6d each; goslings. 3s 6d to 4s each. Turkeys: Gobblers. Is to Is 2d per lb; hens, lid to Is per lb Pigs' Prim° baconers. 7d to 8d per lb. porkers. 7d to B£-d per lb. Fat: Nominally. 8s to lOs per cwt Potatoes: Whites, to £lB 10s per ton: Californian. 1001 b crates, Burbanks 25s per crate. Onions: 2Rs r>er bag. Whole fowl wheat 6s to 6s 9d per bushel, sacks extra Cane barley. 5s 6d per bushel, sack? a xtra. Barlev 17s fid per sack, s.i. Smut 1 - barley. 14s 6d sacks in Barlev pollard. 10s per sack. s.i. < 1501 b) Whole maize. 7s 6d per bushel. Oats: Gartons. 3s 3d to 3s 6d per bushel, sacks extra. Carrots, 4s to 4s 6d per sugar bag. s.i 4s to 4s 6d per suear bft". s.i Cbflff' Pnme oaten sheaf, to £5 ex truck: £5 15s ex store, bags extra. Ovster grit. 6s 6d per 1001 b bag. Straw Wheaten. 2s 9d per bale, ex store Lucerne meal lis Der 901 b bag. Wheaten straw chaff. £4 per ton. Wanted- Carrots, parsnips, lettuce, peas, beans, rhubarb, etc. Fi-ee use of fowl crates on application We have in stock new season's chick and pullet grit. Chickfood. fine and medium, and chick starter, charcoal, bone meal. etc. Prices on application. 16th October. 1939.

VICTORIA NYANZA SUGAR NET PROFIT OF £5987 (Per United Press Association) WELLINGTON, Oct. 16. The Victoria Nyanza Sugar Company reports a net profit for the year ended June 30 of £5987. MINING NEWS GILLESPIE'S BEACH DREDGE The secretaries of the Gillespie's Beach Gold Dredging Company Ltd. (Messrs T. H. Thompson and Sons), report that the wash-up for the week ended on Saturday was 320 z 6dwt for 128 hours from 16,400 cubic yards. CLUTHA RIVER GOLD For the week ended on October 13 the dredge of Clutha River Gold Dredging, Ltd.. operating at Alexandra, worked 123 hours and recovered 640 z of gold. BIG RIVER MINES The report for the week ended on October 12 of Big >River Gold Mines, Ltd.. states:—No.. 5 level, north stope: Stonins north end stone 3 feet 6 inches wide: fillin" in south end. No. 6 level, rise: Rose 6 feet; total 22 feet. Shaft: Sunk 7 feet; total 18 feet (No. 6 to 7). Battery: Twenty-five tons of stone sent to the battery. OKARITO RETURN Messrs W. A Mitson and Co., secretaries of the Okarito Five Mile Beach Gold Dredging Company. Ltd. report a wash-up of 340 z 7dwt for 130 hours dredging. RIATAKI DREDGE RETURN Tkr United Press Association) AUCKLAND. Oct. 16. The Mataki return for the week ended October 13 was 240 z for 129 hours from 11.400 yards JAPANESE WHEAT AND FLOUR GOVERNMENT RESTRICTS EXPORTS (United Press Association) (By Electric Telegrahp—Copyright) WASHINGTON, Oct. 15. The United States Trade Commissioner in Tokio reports that the wheat shortage resulted in the Government restricting wheat and flour exports to yen bloc areas. If control is effective Japanese flour will cease to compete with that in Australia, America. North China, and Manchukuo. NATIONAL BUILDING SOCIETY FOURTEENTH ANNUAL REPORT On their fourteenth annual report and statement of accounts, the directors of the National Building Society state: "The sound financial position of all three groups has been well maintained during the year. The actual realised profit amounted to approximately £3OOO in each group. In addition to the total realised profit of £8567 19s 2d, the society has a reserve of £3413 4s 9d, representing premiums due but not yet realised, 'Since the inception of the society, the directors have granted 216 loans amounting to £140,108 3s of which 84, have now been repaid in full. Those at present being administered total 132. Of the sum advanced on current loans, namely, £83,825 Bs, repayments amounting to £36,645 17s lid have been made, leaving a balance of £47,179 10s Id still outstanding. These balances are adequately protected, no losses having been suffered on any of the society's mortgages. " During the year, 13 appropriations of £BOO have been made available, seven by ballot and six by sale. Premiums on loans offered for sale have averaged £l4 18s 4d per £IOO, representing an interest rate of approximately 2£ per cent. Consideration was recently given by the directors to the advisability of commencing a new group, but after several lengthy discussions they decided that, in view of the uncertain conditions prevailing at present, it was prudent to postpone the formation of further groups until the return of more normal conditions. The 10-year period in No. 3 Group fell due during the year, and several members forwarded their withdrawal notices.

**■£■ . ■ “ ’* ... ' ; Buyer Sellei £ !f. d. £ s. d 3} p.c. Stock, March, 1941-43 96 0 0 — 3 p.c. Bonds, 1939-41 .. 97 0 0 — 3 p.c. Stock, 1939-41 i. 97 0 0 — 4 p.c. Stock, 1940-43 .; 97 13 0 — 4 p.Q. Bonds, 1943-46 . 98 0 0 — 4 p.C. Stock, 1943-46 .. 98 3 0 98 15 0 4 p.c. Bonds, 1946-49 ., •96 5 0 — 4 p.c. Stock, 1940-49 .. •96 3 0 — 4 p.c. Bonds, 1952-55 .. 96 Hi) 0 4 p.c. Stock, 1932-55 .. 98 13 0 — 4 p.c. Stock, 1954-58 .. 93 0 0 MINING Austral N.2. Mining (£1) — 1 4 6 Mossy Creek (Is) .. — 0 1 1 Nokomal (5s) .. .. 0 I 7 0 1 11 Okarlto (5s) .. .. 0 2 3 0 2 9 Waltahu (5s) .. .. -- 0 1 0 BANKING A’sla : (£§) 8 10 0 — New Zealand (£1) .. 1 19 0 1 19 9 N.Z. Ubng D; £1) .. 1 6 0 — Commercial (10s) 0 14 10 0 15 4 Natl; di N.Z. (£2 10s) — 2 4 3 INSURANCE National (7s) .. .. 0 15 9 — New Zealand (£1) .. 2 14 0 — South British (10s) .. 2 4 0 — Standard (£1) .. .. 2 14 6 — A" shipping Howard Smith (£1) , — 1 2 0 U.S.9. Co. (pref.; £1) 1 5 0 — MEAT PRESERVING N.Z. Hefrig. (paid: A; , f - £1) 0 13 9 — N.Z. Refrig (cont.: 10s) ,. 0 8 2 0 8 5 South. Frozen Meat (paid; £1) .. .. 1 7 9 — LOAN AND AGENCY Trustees., Executors (£3) .. 4 0 0 — Wright, Stephenson (pref.; £1) .. .. - 0 19 0 GAS Christchurch (£1) .. 1 4 0 ' — CQAL AND OIL Kaltangata (16s) .. .. 1 7 0 — Westport (10s) .. .. 1 1 0 — Westport - StockiMB (ord.; 10s) .. .. 0 4 0 Westport - Stockton (pref.; 10s) .. .. ' — 0 8 0 Taranaki Oil £1 4« 7d) .. b 4 0 ■ ~ WOOLLEN COMPANIES Bruce (ord.; £1) 0 10 0 — Bruce (pref.; £1) .. 0 18 0 — Kaiapoi (ord.; 17s) .. — 0 11 6 Kaiapoi’(pref.: 17s) ..." 0 14 3 — Oamaru(£l) .. .. 0 15 0 Wellington (ord.: £5) ■ ~ 5 10 0 MISCELLANEOUS Aust. Consold. Indus. (£1) .. .. .. .. 1 IB 3 2 0 0 Broken Hill Pty. (£1) 3 14 0 — Brown Ewing (pref.; £1) — 1 1 U D.I.C. (ord.; 10s) — 0 14 0 D.I.C. (pref.; £1) 1 1 9 — Dominion Fertiliser (£1) .. 1 4 0 1 5 0 G. J. Coles (£1) ,. 3 11 6 Hume Pipe (£1) .. 0 17 3 — Milbum Lime (£1) .. 1 15 3 — Mort’s Dock (£ 1) ,.. 0 16 0 — N.Z. Drug Co. (£2) .. 3 8 0 Otago ■ Dally Times (£1) A — 2 0 6 Woolworths (Syd.: ord.; 5s). .. .. 1 3 0 — Woolworths Properties, Ltd. (6 p.c. pref. ord.: £1) 1 2 0 — BREWERIES N.Z. Breweries (£1) 1 16 0 — AUSTRALIAN MINING Broken Hill South (5s) I 9 0 — Electro. Zinc (ord.; £1) 2 18 0 — Mount Lyell (£1) . , 1 12 3 1 13 3 Mount Morgan (2s 6cl) 0 10 0 0 10 6 North Broken Hill (5s) 2 8 6 Rawang Tin (10s) . 0 9 0 * Ex dividend.

£ s. d. Stock, 1948, 4 per cent. .. 99 10 0 Stock, 1940-43, 4 per cent. 98 5 0 National Bank of New Zealand .. .... . 2 3 0 National Insurance .. 0 17 0 South British (ex div.) .. 2 3 64 Dominion Breweries 1 IS 0 Broken Hill Proprietary .. 3 15 3 Electrolytic Zinc (pref.) Mort’s Dock 3 0 t) 16 0 9 Mount Lyell (2) 1 12 Wellington Aullivials 0 4 6

New Zealand Insurance (late Friday) 2 14 6 Woolworths. Ltd (late Fnday) . . • 1 3 3 3 per cent. Slock, 1941 98 10 0 4 per cent. Stock. 1952 97 15 0 Burns Philp and Co. (odd lot) 2 15 0 Howard Smith 1 1 3 1 1

Goldsbrough, Mort . .. 1 11 0 Woolworths (Sydney, ord.; . ;j) ,. 1 b 6

National Insurance .. 0 Vi 0 New Zealand Insurance .. 2 14 6 G J Coles (late Friday: 2) 3 12 9 Unlisted Stock Associated Gold Dredges (7s 0 paid; 2) .. ..... 5 0

able:— Amalgamated Wireless —Final !> p.c. .•• •• ’■ South Otago FreeiBig—5 p.c. To-day Oct. 21 South British—Final 8Jd a share • • Oct. 26 Park of Adelaide—Interim. !5J p.c. p.a. .. ... •• Nov. I Macky Logan—Interim, 5 p.c, p.a. .. .... ■ ■ ... ■ • Nov 1 Martha-Interim, 6d stg. a share (free of British income tax) .. •• • • Nov. 2 Dunedin Brewery—Interim, d Nov. 27

£ s. d. Comm. Bank of Sydney .. 17 10 0 Anthony Hordern 0 13 4 Tooths .. .. .... ■ • 2 10 0 Aust. Consol. Industries .. 1 15 3 Aust. Consol. Industries (cont.) .... 0 11 0 Burns, Philp 2 12 6 Dunlop Perdriau (pref.) .. 1 11 6 Additional Sales Bank of New South Wales 26 15 0 Commercial Bank of Australia • • 0 13 11 Commercial Banking of Sydney .. ., .. .... 17 11 0 Bank of Australasia .. . 7 10 6 Colonial Sugar 4G 0 0 British Tobacco 2 5 9 Woolworths 1 i 3 Australian Consolidated Industries 1 15 3 Mort's Dock 0 15 6 Mort’s Dock (New Zealand delivery) 0 15 6 Cash Orders .. ;. •• 0 15 1 W. H. Saul 4 16 0 Electrolytic Zinc 2 14 n Electrolytic Zinc (pref.) .. 2 15 6 Emperor 0 10 0 Loloma .. 1 3 0 Broken Hill Proprietary .. 3 7 P MELBOURNE. Oct. 16 £ s. d Commercial Bank of Australia .. .. 0 13 10 National Bank (£5 paid) .. 5 17 0 Dunlop Perdriau (pref.) .. 1 11 9 Herald and Times 2 15 3 Gordon and Gotch . . .. 2 2 6 Australian Consolidated Industries 1 15 2 Electrolytic Zinc 2 17 9