COMMERCE AND FINANCE

Otago Daily Times, Issue 24431, 17 October 1940, Page 2

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE INQUIRY FOR AUSTRALIAN Government Loans again had a steady inquiry on the Dunedin Stock Exchange yesterday, and a sale of 4 per cent. Stock, 1941-43, was reported at £lOl. Banks were steady, New Zealands turning over at £2 2s 4d and Unions at £7 Is 6d. The market for Westport Coals was steady, and a parcel changed hands at £1 2s 7d, while preferred Wright, Stephensons were dealt in at £1 Os 6d. All lines in the industrial section were unchanged. The Australian mining shares had a better inquiry, and a sale of Mount Morgans was reported at 9s 4d. YESTERDAY’S SALES DUNEDIN

AUCKLAND Sales on ’Change.—Stock, 1940-43, 4 p.c. (late sale), £lOl ss. £lOl 2s 6d: Commonwealth Stock, 1947, 4 p.c,, £105; Bank of New Zealand (2), £2 2s 6d; South British (2), £2 8s lOd, £2 9s; New Zealand Insurance, £3 Is 8d; Dominion Breweries, £1 10s; Taranaki Oil Fields, 6s; Woolworths (N.Z.), 16s: Woolworths (Syd.; late sale). 18s 3d: Broken Hill South, £1 6s sd; Emperor, 11s 6d; Union Bank, £6 Is 6d. WELLINGTON Sales on Change.—South British Insurance (late Tues.), £2 8s lOd; McKenzies Stores (late Tues.), £2 ss; Woolworths, Ltd. (late Tues.), 18s 3d; 4 p.c. Stock, 1946, £103; 4 p.c. Stock, 1946, £lO3 2s 6d; Union Bank, £7 2s; South British Insurance, £2 8s lOd; Gear Meat. 14s 6d; Felt Textiles Rights, 10s 6d; Westport Coal, £1 2s 8d; MacDulTs (pref.), 17s 9d; N.Z. Drug, £3 14s 6d; Woolworths, Ltd., 18s 3d. CHRISTCHURCH Sales on ’Change.—New Zealand Breweries (2), £1 12s. Sales reported; Bank of New South Wales (2), £2B 10s: New Zealand Breweries. £1 12s; British Tobacco (2), £2 10s; Electrolytic Zinc (2), £2 14s; New Zealand Newspapers, £1 11s; Woolworths (N.Z.), 16s; Woolworths Properties (2), £1 ss. BROKEN HILL SOUTH PROFITS MAINTAINED Broken Hill South. Ltd., Melbourne, made a profit of £329.503 In the year ended June 30 after setting aside £70,000 to meet unpredictable war-time expenditure, including special company taxation. In the previous year net profit was £350.007. Net return from the mining section was £188,055, after pi'ovldlng £33,000 for depreciation of plant, £91.500 for income tax, and £64,500 for contingency reserve. Net profit from this section in the previous year was £224,081. Prices realised for lead, silver and zinc were somewhat higher than those obtained in the preceding 12 months, but this advantage was more than offset by an increase in costs of production and by the special transfer to contingency reserve. Net profit from the investment section, which was £13,522 higher at £141,448, was recorded after providing £13.000 for taxation and contingency reserve. The dividends for the year, which have already been announced, were unchanged at 40 per cent. AUSTRALIAN STOCK EXCHANGES (United Press Association) (By Electric Telegraph— Copyright) SYDNEY, Oct, 16. (Received Oct. 16, at’ 11.30 p.m.) To-day’s share market was one of the best since the outbreak of the war and prices are still tending upward. Additional Sales.—Colonial Sugar £SO, (New Zealand delivery) £SO, Bank of New South Wales £27 18s, Commercial Bank of Australia 14s 7d, Associated Nows 14s 4d (pref.) 18s, Australian Gas A £5 9s, (New Zealand delivery) £5 8s 6d, Consolidated Industries (con.) £1 4s 9d, Felt Textiles £1 13s 9d, Felt Textiles (rights) 12s, Felt Textiles (New Zealand deliveries) 11s sd, 11s 6d, 11s lOd and 11s lid, Milliquin Sugar £2 4s 3d, Kandos £1 11s, Morts Dock 18s 6d, Emperor 10s 3d. MELBOURNE. Oct. 16. Felt Textiles (right's) Us 3d, South Broken Hill £1 5s 3d.

PROPERTY SALES James Samson and Co. report that yesterday they submitted several freehold properties in the estate of Walter G. Geddes. the sale attracting considerable attention. The property situated at the corner of Hope and High streets, after competition, was sold to Mr Young at a satisfactory price. The other three properties failed to reach the reserve price fixed, but negotiations are now in hand for their sale. Fraser and Co., selling agents for Otago and Oamaru Egg Circles, report as under. Eggs: Heavy grade, Is 6d; standard grade, Is 4d; medium grade, Is 2d: pullet grade. Is per dozen. Dairy butter: Pats, lid to Is; bulk, Is Id. Potatoes, £2 10s to £3 10s per ton. Chaff, £7 to £7 15s per ton, sacks extra. Canterbury onions: Market rates. Whole fowl wheat, to 6s 6d per bushel. Honey, 7d to 8d per lb: 21b pottles, Is 6d: slb tins, 3s 9d; 101 b tins. Bs. Poultry: White Leghorn hens, 5s to 6s 6d; heavy breeds, 5s 6d to 6s 6d; cockerels, light 3s to 4s, heavy 7s to 8s; roosters, Is to Is 6d; ducks, 3s 6d to 6s •■6d; ducklings, 5s to 7s. all per pair; turkeys, gobblers 8d per lb. live weight, hens 7d per lb, We stock Palmer’s chick food, C.F.M. meatmeal; leg rings, Is per dozen (special ouotes for quantities). ' We are Otago agents for “ Champion egg crates, “ Sol-vit-ax ” cod liver oil for poultry; prices on application. Consignors, please note that all poultry must arrive not later than Wednesday morning of each week. We have a stock of poultry crates on hand for use of our clients.

MINING NEWS RICH DREDGING AUSTRAL-NEW ZEALAND CLAIM (Per United Press Association) CHRISTCHURCH. Oct. 16. The Austral-New Zealand dredging return for the period from October 1 to 12 (both days inclusive) was 823 ounces for--235 hours’ dredging. The dredge will stop four days for repairs. After a lapse of two years from the time of her launching, the Austral-New Zealand dredge reported a first return on September 20 last of 452 ounces for 205 hours' work. Launched on August 27. 1938. the dredge then vied with the Kanierl as the largest in New Zealand. She weighed 2400 tons, and her total capacity was estimated at 400,000 cubic yards a month. Operated by electricity, it was to work the Lowburn Flat, where dredging rights were held over 1600 acres. This last return nearly doubles the first return reported. The total return for September was 1082 ounces for 25 days; 270,000 yards were shifted in that month. NGAHERE GOLD DREDGE The Ngahere Gold Dredging Company’s return for the half-month ended October 15 was 386 ounces from 145,343 yards in 238 hours. LATEST QUOTATIONS BANKS SELL FIRMLY The following are yesterday afternoon’s buying and selling quotations on the Dunedin Stock Exchange, which are subiect to the usual brokerage:— N.Z. GOVERNMENT LOANS

UNLISTED STOCKS All stocks in this section are not quoted on the official list, and transactions are subject to a different rate of brokerage:—

COLOMBO TEA SALE Mr L. M, Wright has received the following cabled report on the Colombo tea auction of October 15;— “A total of 1,250,0001 b were offered at yesterday’s sale. Common and low-grade teas were in strong demand, prices remaining firm, and medium and highgrown grades were irregular and easier, prices declining Jd to Id per lb. At next week’s auction 1,400,0001 b will be offered to buyers.”

POLLED ANGUS BULLS ANNUAL BREEDERS' SALE TOP PRICE 800 GUINEAS (Per United Press Association' DANNEVIRKE, Oct. 16. At the annual breeders’ sale of Polled Angus bulls to-day the champion bull, offered on behalf of Mr D. G. Grant, Mangatoro, Dannevirke, was sold for 800gns. The purchaser was Mrs J. May, Matapihi, Waipawa. The proceeds were given by Mr Grant to the London Distress Fund. A yearling sold by Mr Grant realised 275gns. and a yearling bull sold by Mr J. E. Hewitt made 240gns. DIVIDENDS AND CALLS The following is a list of shares on which dividends will shortly be payable:— Waitahu, 2d • ■ • ■ Oct. 24 Amalgamated Wireless—Final, 9d p.c. ~ ~ ~ .. i. •• Oct. 24 South British Insurance—Final, 9d a share, plus bonus (3d) .. ~ Oct. 24 William Cable (pref.)—Halfyearly. 3J p.c. •• •• • • •• Oct. 25 N.Z. Guarantee Corp.—Final, Id a share, making 5 5-9 p.c. per annum • • oct - 30 Martha Gold Mining—lnterim, 6d a share, free of British income tax Nov. 1 Bank of Adelaide—lnterim at rate of 5 p.c, p.a. .. .. .. Nov. 6 National Bank of Australasia—lnterim. paid and contrib., at rate of 6 p.c.. p.a Nov. 27 Bank of N.Z.—lnterim, ord. Is, long D, 3J p.c Dec, 7

£ S. d. Bank of New Zealand 2 2 4 Union Banks 7 1 6 Westport Coal 1 2 7 4 p.c. Stock, 1940-43 101 0 0 Wright. Stephenson (pref.) Farmers' Trading 1 0 6 1 0 3 Mount Morgan (late Tuesday) .. 0 9 4 Waitahu 0 0 8 Sale on ’Change Southland Ice Cream 1 5 0

Buyer. Seller. £ s. d 4 s a. 31 d.c. Bonds. 1953-57 100 17 6 — 3i D.c. Stock, 1953-57 100 IT 6 — 4 p.c. Stock, 1940-43 .. 100 15 0 — 4 D.c. Bonds. 1943-46 .. 102 10 0 — 4 p.c. Stock, 1943-46 .. 102 10 0 — 4 d.c. Bonds, Nov., 1948 105 0 0 — 4 pc. Stock, Nov., 1948 105 0 0 — 4 d.c. Stock, 1949-52 .. — • 107 5 0 4 p.c. Bonds, 1954-58 .. 107 10 0 MINING , Austral N.Z. Mining (£1) 1 5 0 — Big River (Is) .. .. 0 0 6 —- Clutha River (2s) • 0 2 3 Gillespies Beach (Is) 0 0 5 0 0 6 Martha 0 7 0 —• Nokomai (5s) 0 1 0 — Okarito (5s) 0 0 6J — Sandhills (Is) .. .. — 0 0 1 Waitahu (5s) .. .. 0 0 7 0 0 bi BANKING New Zealand (£1) .. 2 2. 3 — New Zealand (long D; £1) 1 8 3 — E.S. and A. (£3) .. — 4 15 0 Natl, of N.Z. (£2 10s) — 2 i 0 Union (£5) — 7 3 0 INSURANCE National (7s) .. .. 0 18 6 0 19 0 New Zealand (£1) .. 3 0 6 — Standard (£1) .. •. 2 18 3 — SHIPPING P. and 0. Def. Stock (£1) 1 3 0 MEAT PRESERVING N.Z. Refrig. (paid: £1) — 1 0 6 N.Z Refrig (cont.: 10s) — 0 9 6 South Otago Freezing (£5) — *5 5 0 LOAN AND AGENCY Dalgety and Co. (£5) — 7 0 0 Natl. Mortgage (£2) — 1 18 0 Perpetual Trustees (18s) 2 11 0 — Trustees. Executors (£3) 4 2 0 •— Wright, Stephenson ford.; £D — 1 0 3 Wright, Stephenson (pref.; £1) .. .. 1 0 0 - COAL AND OIL Kaitangata (16s) .. .. — 1 11 6 Westport (10s) .. .. 1 2 3 1 9 Moturoa Oil (pref.; 5s) — 0 5 0 WOOLLEN COMPANIES Bond’s Hosiery (£1) 1 7 0 _ Bruce (pref.; £1) .. 1 0 0 — Kaiapoi (pref.; I7s) .. 0 16 b Oamaru (£1) .. .. 1 0 0 MISCELLANEOUS Broken Hill Pty. (£1) _ 2 6 3 Chas. Begg and Co. .. 1 1 0 — Crystal Ice (£1) 2 2 0 — D.I.C. (pref.: £1) 1 3 6 — Dominion Fertiliser (£1) 1 7 3 — Dominion Rub. (£1) — 1 2 0 Donaghy's Rope (£1) 2 13 9 — Dunlop Pcrd. Rubber (£1) 0 19 0 — Farmers’Trading (£1) 1 0 0 — G, J. Coles (£1) 3 9 0 — Kauri Timber (£1 5s) — 1 5 0 McKenzies Dep. Stores (£1) — 2 8 0 McLeod Bros. (£10) .. — 27 10 0 Natl. Electric (£1) .. 0 17 3 — N.Z. Drug Co. (£2) .. 3 13 9 — Farmers’ Fertiliser (£1) — 1 2 0 N.Z. Newspapers (16s 8d) 1 9 3 — N.Z, Paper Mills (£1) 1 9 0 — Otago Daily Times (£1) — 2 0 0 Regent Theatre (£1).. — 1 0 6 Southland. Ice Cream (£1) 1 3 0 1 6 0 Woolworths (N.Z.; ord.; 5s) 0 15 10 0 16 2 BREWERIES N.Z. Breweries (£1) 1 12 8 — Dunedin (£1) .. .. — 1 2 6 Tooths (£1) — 2 16 0 AUSTRALIAN MINING Electro. Zinc (ord.; £1) 2 12 0 — Electro. Zinc (pref.; £1) 2 13 0 — Emperor (10s) .. .. 0 10 6 -7Mount Lyell (£1) .. 1 9 0 1 11 0 Mount Morgan (2s 6d) 0 9 0 0 9 6 * Ex dividend.

Buyer. Seller. £ s. d. £ s. d. Mackintosh Caley Phoenix 0 8 0 — Otago Farmers’ (5 3-5 p.c. A pref.) .. .. — 0 19 6 Selfridges (N.Z.), Ltd. 0 3 9 —