COMMERCE AND FINANCE

Otago Daily Times, Issue 24449, 7 November 1940, Page 2

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE VALUES CONTINUE FIRM Values in the investment market showed little alteration yesterday, all wanted lines being steady on the Dunedin Stock Exchange. New Zealand Insurances were turned over at £3 Os 6d and continued in demand at 6d less. There was a closer market for Standards at £2 18s 3d (buyer) and £2 19s 6d (seller). Contributing New Zealand Refrigeratings were turned over at 9s 3d, the market closing a penny on either side of that figure, while the paid-up issue had a buyer at £1 and a seller only 6d away. No fluctuations were apparent In the miscellaneous section, Dominion Fertilisers selling firmly at £1 7s 9d and National Electrics at 18s. YESTERDAY’S SALES DUNEDIN Sales Reported

AUCKLAND Sales on ’Change.—War Loan, 1953 (part paid; 2), £79 12s 6d; Auckland Gas (pref. stock). £102; City of Auckland, 1963, p.c„ £lO7 10s; Commercial Bank of Australia, 15s Id; Bank of New South Wales, £3O; Bank of New Zealand (2), £2 0s lid, (3) £2 Is; New Zealand Insurance, 3 0s 6d, (3) £3 Is; National Insurance, 18s; South British, £2 8s 6d; Farmers’ Auctioneering Company (£1). Us; Newton King (pref.), 9s; Kauri Timber, £1 2s; Oamaru Wool, £1; Dominion Breweries (3), £1 9s; New Zealand Breweries. £1 12s Gd; Broken Hill Proprietary. £2 5s 3d, (odd lot), £2 5s 6d; G, J. Coles (late sale). £3 10s; Radio. 12s 6d; Wellington Alluvials (2), 4S| 6d. Unlisted Shares.—Una Hill, 6d. WELLINGTON Sales on 'Change.—Commercial Bank (late Tuesday), 15s; South British Insurance (late Tuesday, £2 3s; New Zealand Breweries (2), £1 12s; 4 p.c. Stock, 1949. £103; War Loan, 1953, £79 10s; New Zealand Insurance, £3 0s 6d; Westport Coal, £1 2s sd, Colonial Sugar, £sl 10s; Woolworths Properties, £1 ss, CHRISTCHURCH Sales on ’Change.—Australian Consolidated Industries, £1 19s; Broken Hill Proprietary (2). £2 5s Gd. Sales Reported.—3l p.c. Slock, 1941-43, £101; Bank of New South Wales (cum div.), £29, £3O; Felt and Textiles (late sale Tuesday), 38s: Felt and Textiles (rights; 2), 12s Gd; National Bank of Australasia (£lO paid; cum div.: late sale Tuesday), £l2; National Bank of Australasia (£5 paid: cum div.; late sale Tuesday), £6.

AUSTRALIAN STOCK EXCHANGES (United Press Association) (By Electric Telegraph—Copyright) SYDNEY, Nov. 6. (Received Nov. 6, at 11 p.m..) Leading industrials showed little alteration but leading base metal shares firmed on the Stock Exchange to-day. The Morning Sales.—Tooheys £1 9s 9d, Tooth’s £2 14s. Anthony Hordern 15s, British Tobacco £2 10s, Broken Hill Proprietary £2 5s 3d, Cash Orders 16s 6d, Farmers £1 8s Bd. Additional Sales.—Union Bank £6 7s, Felt Textiles £1 16s 9d, Stedman 12s 9d, Kandos £1 12s 6d, Morts, Dock 17s 9d, Woolworths 17s 9d. Wilcox, Mofflin 7s, Loloma £1 4s Id, North Broken Hill £2 Is 6d. MELBOURNE. Nov. 6. National Bank (£lO paid) £l2 7s, Drug Houses £1 Bs, Felt Textiles (rights) 15s, Herald and Times £2 14s 6d, Emperor 10s Id, Mount Morgan 10s 2d, Mount Lyell £1 9s 9d. WESTPORT COAL COMPANY FINAL DIVIDEND FOR YEAR The directors of the Westport Coal Company, Ltd., in their annual report and balance sheet, will recommend the payment to all shareholders on the register on November 6,. 1940, of a final dividend for the year of sixpence per share, payable on November 21, making altogether a distribution of Is per share for the year. Fraser and Co.; selling agents for the 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 butler: Pats, lid to Is; bulk, Is Id,' Potatoes, £2 to £3 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; 51b tins, 5s 3d; 101 b tins, 9s 6d. Poultry: White Leghorn hens, 4s to 6s; heavy breeds, 5s 6d to 6s 6d; cockerels, light 3s to 4s, heavy 7s to 8s; roosters, 2s Gd to 4s 6d; ducks, 3s 6d to 6s 6d; ducklings. 5s to 7s, all per pair; turkeys, gobblers 8d per lb, live weight, hens id per lb. , We stock “ Palmers cluck food, "■ C.F.M.” meatmeal; leg rings Is peldozen. (Special quotes 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.

LATEST QUOTATIONS REFRIGERATINGS ACTIVE 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 STOCK? All stocks In this section are not quoted on the official list, and transactions are subject to a different rate of brokerage:—

DIVIDENDS AND CALLS The following is a list of shares on which dividends will shortly be payable:— Trustees, Executors—lnterim, 3 p.c .. Nov. 8 N.Z. Paper Mills—lnterim, 3 p.c. Nov. 15 National Bank of AustralasiaInterim, paid and contrib., at rate of 6 p.c. p.a Nov. 27 Bank of N.Z.—lnterim, ord. Is, long D., 32 p.c. ~ Dec. 7

MINING NEWS ARGO COMPANY’S REPORT The directors of the Argo Gold Dredging Company, Ltd., in their report for the year ended July 31 state that dredging has been maintained steadily throughout the year, no major stoppages having been experienced. The average weekly return for the period was 370 z 17dwt, compared with 53.850 z for the previous year. The working expenses per cubic yard were 4.67 d against 4.70 d for the previous year. The average price received per crude ounce for gold, after deducting export gold duty, war tax on gold, and realisation expenses was £8 13s 4d. The average value realised during the previous year was £8 Os I.Bd. Recently very poor ground has been worked. From 9 to 10 chains upstream ahead of the present dredging face values shown in the bore holes are much better, but it has been decided to do some further boring. The total gold production for the year amounted to £18,536 12s (previous year £20,272 17s lOd) less export duty on gold £1,160 19s 4d. W?r tax on gold £1304 14s 7d and realisation expenses £313 17s 4d, leaving a net return of £15,757 Is Id, Two dividends of Id per share each were declared absorbing £4OOO and the reserve fund was increased from £4200 to £4600. The total amount of gold duty and war tax duty paid by the company on its total gold production won during five years' operations amounts to £9720. 12s 9d. COLOMBO TEA SALE Mr L. M. Wright has received the following cabled report on the Colombo tea auction of November s: At yesterday’s auction of 1,250,0001 b, common, medium and fine teas were in strong demand, prices being about IJd lb dearer at the close of the sale. The quality of the offerings was plain. A total of 1,500,0001 b will be submitted to buyers at next week's sale.

£ s. d. N.Z, Insurance (2) 3 0 6 N.Z. Refrig, (cont.) 0 9 3 Westport Coal 1 National Electric U 16 0 Sales on ’Change N.Z. Refrig, (cont.) 0 9 3 Dominion Fertiliser 1 7 9 Sale Reported After Last Call Bank of New Zealand .. .. 2 i 0 Unlisted Stocks National Tobacco (2) 1 a 0

Buyer. Seller. £ s. d £ S. a. 3i p.c. Bonds, 1953-57 100 10 0 — 3i p.c.' Stock, 1953-57 100 10 0 — 4 p.c. Stock, 1940-43 .. 101 0 0 101 10 0 4 p.c. Bonds, 1946-49 .. 102 15 0 — 4 p.c. Stock, 1946-49 .. 102 15 0 — 4 p.c. Stock, Nov.. 1948 104 10 0 — 4 p.c. Stock. 1949-52 .. 105 5 0 106 0 0 4 p.c. Bonds, 1954-58 .. 106 10 0 — 4 p.c. Stock, 1954-58 .. 106 10 0 — War Loan 79 5 0 — MINING Big River (Is)' .. .. 0 0 6 — Cliitha River (2s) — 0 2 3 Gillespie's Bead! (Is) — 0 0 6 Martha — 0 7 4 NOKoinai (5s) .. .. 0 1 0 — Okarito (5s) .. .. 0 0 8 — Paddy’s Point (5s) .. — 0 0 7 Sandhills (Is) .. .. — 0 0 1 BANKING New Zealand (£1) .. 2 0 9 2 1 6 E.S. and A. (£3) .. — 4 15 0 Natl, of N.Z. (£2 10s) — 2 0 6 Natl, of A'asia (£10) — 12 5 0 Union (£5) .. .. — 7 1 0 INSURANCE National (7s) .. .. — 0 18 7 New Zealand (£1) .. 3 0 0 — Standard (£1) .. .. 2 18 3 2 19 6 SHIPPING P. and O. Def. Stock (£1) 1 3 0 — U.S.S, Co. (pref.; £1) 1 6 3 MEAT PRESERVING N.Z. Refrig. (paid; £1) ■■ T 0 0 1 0 6 N./- Refrig (cont.; 10s) 0 9 2 0 9 4 South. Frozen Meat (paid; £1) .. .. — 1 16 0 Wa.iaKi Fanners (£5) 4 15 0 — LOAN, AND AGENCY Dalgety and Co. (£5) — 7 0 0 Nali. Mortgage (B issue; £1) .. •• 1 0 0 1 0 3 Pci Trustees (18s) 2 11 0 — Trustees. Executors (£3) 4 2 0 — Wright, Stephenson (ord.; £1) .. .. 0 19 6 COAL AND OIL Westport (10s) .. .. 1 2 9 — Westport - Stockton (ord.; 10s) .. •• 0 2 0 — Westport - Stockton (pref.; 10s) .. .. 0 5 0 0 7 0 Moturoa Oil (pref.; 5s) — /0 5 0 Taranaki Oil (£ 1 4s ' 7s) — 0 6 3 Taranaki Oil Develop, (cont.) — 0 4 6 WOOLLEN COMPANIES Bond's Hosiery (£1) 1 7 0 — Bruce (ord.; £1) 1 0 0 — Bruce (pref.; £1) .. 1 0 0 — Kaiapoi (ord.; 17s) .. 0 13 0 0 14 0 Kaiapoi (pref.; 17s) .. — 0 17 0 Mosgicl (£4) .. .. 10 10 0 — MISCELLANEOUS Broken Hill Pty. (£1) — 2 6 0 Brown, Ewing (pref.; £1) — 1 3 0 Chas. Bcgg and Co. .. 1 1 0 — Crystal Ice (£1) 2 2 0 — D.I.C. (ord.; 10s) — 0 14 0 D.I.C. (pref.; £1) .. 1 3 6 —r nonunion Fertiliser (£1) 1 7 6 1 8 0 Dominion Rubber (£1) — 1 2 6 Donaghy’s Rope (£1) 2 13 0 — Dunlop Perd. Rubber (£1) 0 19 6 — G. J. Coles (£1) .. 3 8 0 3 11 0 MacDuft's (pref.; £1) 0 18 0 — Milburn Lime (£1) — 2 0 6 McLeod Bros. (£10) — 27 5 0 Natl. Electric (£1) .. — 0 18 6 N.Z. Drug Co. (£2) 3 15 0 — N.Z. Paper Mills (£1) 1 9 3 — Otago Daily Times (£1) — 2 0 0 Regent Theatre (£1) — 1 0 6 Woolworths (N.Z.; ord.; 5s) — 0 16 1 Woolworths (Syd.; ord,; 5s) — 0 18 1 Woolworths Properties, Ltd. (6 p.c. pref., ord.; £1) .. 1 4 6 1 6 0

BREWERIES N.Z. Breweries (£1) 1 11 9 — Dunedin (£1) .. .. 0 19 9 1 1 6 Tooth's (£1) .. .. — 2 16 0 AUSTRALIAN MINING Emperor (10s) .. .. — 0 11 6 Mount Lyeli (£1) .. — 1 10 6 Mount Morgan (2s 6d) 0 9 9 — Wellington Aliuvials (2s) 0 4 2 0 4 5

Buyer. Seller. £ s. d. £ s. d. National Tobacco 1 10 0 1 12 0 Otago Farmers (A pref.) — 0 19 6 Mackintosh Caley Phoenix 0 8 0 0 10 0 Dunedin Ice Cream 17 0 —