COMMERCE AND FINANCE

Otago Daily Times, Issue 24460, 20 November 1940, Page 2

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE LITTLE ACTIVITY RECORDED A quiet tone prevailed on the Duncdin Stock Exchange yesterday. Bank of New South Wales shares were inquired for at £23, and Bank of New Zealands were on offer at £1 19s 9d, ex dividend, buyers' best offer being £1 18s 9d. Buyers of Standard Insurances were prepared to give the fractionally firmer price of £2 18s 6d, but sellers were not interested. Contributing New Zealand Refrigeratings were offered for sale at the slightly easier price of 9s 4d, but buyers remained firm at 9s 2d. Broken Hill Proprietaries met with a slightly better inquiry at £2 5s 6d. sellers asking £2 Gs 3d. An improvement in the market for ordinary Mac Duffs was recorded, buyers being prepared to give lis, which was Is bolow sellers' requirements. New Zealand Breweries firmed a trifle, with a buyer at £1 12s 3d, and Broken Hill Souths were also in better demand at £1 6s YESTERDAY'S SALES DUNEDIN Sales Reported

AUCKLAND Sales on 'Change—War Loan, 1953, £79 Iss; Stock, 1952-55. 4 per cent., £lO5 17s 6d; Dannevirke Power Board, 1954, 44 per cent., £lO5 10s; Mount Eden Borough 1951,-56, 44 per cent., £lO4 10s; Amalgamated Brick (Auckland), 1944, 6 per cent.. £103; New Zealand Insurance, £3 Is 6d; Oamaru Wool, £1; Kaiapoi (fully paid), 13s 9d; Innes Brewery, 13s; A.C.1.. £1 19s 6d (late sale, £1 19s 6d; Broken Hill Pty. (odd lot; late sale, £2 5s 9d: Martha (2), 7s 2d; Ngahere (late sale), 18s. WELLINGTON Sales on 'Change.—South British Insurance (late Mon.), £2 9s 3d; British Tobacco (late Mon.), £2 9s 6d; 3J per cent. Stock, 1957, £lOl 2s 6d; 3J per cent. Stock, 1957, £lOl ss; 31 per cent. Stock, 1969; £101; War Loan, 1953, £79 12s 6d: Bank of New South Wales, £29 10s; Bank of New Zealand. £1 19s 7|d; New Zealand Insurance, £3 Is 6d; Felt and Textiles, £1 13s; Broken Hill Pty. (3), £2 5s 6d; Bonds Hosiery. £1 9s 6d. CHRISTCHURCH Sales on 'Change.—New Zealand Refrigerating (£1 paid), £1 0s 3d. Sales Reported.—Ashburton Electric Power Board, 41 per cent. 1949, £106; South British Insurance, £2 9s; Southland Frozen Meat, £1 15s; Westport Coal (ex div.), £1 2s 6d; Broken Hill Pty., £2 5s 6d, £2 5s 9d; New Zealand Newspapers, £1 'l2s; Austral (N.Z.) Mining, £1 9s; Broken Hill Pty. (2), £2 5s 9d; Colonial Sugar. £52.

LORNEVILLE STOCK SALE SHEEP VALUES INCREASE RECOVERY IN FAT CATTLE PRICES (Per United Press Association) INVERCARGILL, Nov. 19. The fat sheep yarding at Lorneville today was comprised almost wholly of ewes, the majority of which were of very fine quality. More than half the yarding consisted of shorn sheep. On a general average, values were about 2s a head better than last week. ■ Good quality shorn wethers made from 34s 6d to 36s 6d medium 32s to 335, unfinished 27s to :?9s; extra prime woolly ewes sold to 40s 3d, prime quality 36s to 38s, medium 31s 6d to 32s 6d, unfinished 26s to 28s 6d: extra prime shorn young ewes to 28s, prime quality 26s to 275, good quality 24s 6d to 25s 6d, medium 21s 6d to 235, lightweights 17s to 19s. The entry of fat lambs included some of extra good quality which realised up to 30s. Good quality lambs brought from 26s to 28s, medium 24s to 255, lightweights up to 235. The entry of fat cattle was comprised mainly of cows. A few lines of outstanding bullocks were included together with some fine quality medium-weight heifers. The drop of £1 to £1 10s in values for fat cattle which was recorded last week was fully recovered. Extra prime quality bullocks made up to £23 10s, prime heavy bullocks £2O to £2l 10s, quality medium-weight bullocks £l6 to £l7, bandy-weights £ls to £ls 10s, lightweights £l2 to £l3 10s; extra prime quality cows to £l4 17s 6d, good quality £9 10s, to £lO 10s, unfinished £7 15s to £8 10s; prime quality medium-weight heifers £l2 to £l3, handy-weights £il to £ll 10s, light-weights £9 15s to £lO 10s.

RABBIT SKIN SALE VALUES SATISFACTORY The Dunedin Stock Agents' and Wool Brokers' Association (Messrs Dalgety ana Co. Ltd.; Donald Reid and Co., Ltd.; Stronach, Morris, and Co., Ltd.; New Zealand Loan and Mercantile Agency Company. Ltd,; Wright, Stephenson, and Co., Ltd'; Otago Fanners' Co-op. Association. Ltd.; and National Mortgage and Agency Company, Ltd.) i-eport as follows: The sale originally set down for Novem-. ber 5 was held yesterday, when catalogues totalling approximately 14 tons were submitted to a good attendance of buyers. There was a fairly good demand, all sections of the trade being interested. Values for hatters' descriptions were without much change, but the better grades ruled lower and on the average prices were par to 3d below the best rates of the sale held on October 22. A few small parcels of winters were offered' through the catalogues and sold exceptionally well. Winter bucks sold to 93Jd, winter does to 76id, second winter bucks to 88£d, spotted bucks to 83Jd. The official range of prices is as follows:—Small, 20Jd to 303 d per lb; runners, 30£d to 313 d; racks, 354 d to 36d: summers, 33d to 33£d; spotted winter bucks, 19' 2 d to. 83d; spotted winter does. 66d to 67Jd; second winter bucks, to 88£d; second winter does, to 68Jd; winter bucks, 87Jd to 93Jd; winter does, 70|d to 76Jd; outgoing winter bucks, 68d to 72d; outgoing winter does, 53d to 60Jd; furrier does, to GOd; spring bucks, 45d to 55£d; spring does. 42-j to 44id; stained does, 48d to 52d; first milky. 34W to 39d; milky, 31d to 313 d; summer broken, 31d to 33d; first broken. 393 d to 41id; second winter broken, 38Jd to fawns, 30d to 40d; summer black, 2Gd to 29d; third black, 29Jd to 54d; winter black, 42id to 60Jd; hareskins, 26d to 28d; first hareskins, 283 d to 363 d; horsehair. 26jd to 30d; first ferrets. 2s lid to 5s 9d; second ferrets, Is to 2s; summer weevilly. 24jd to 253 d; winter weevilly, 323 d to 341 d.

LATEST QUOTATIONS ORDINARY MACDUFFS RISE The following are yesterday alternuon s buying and selling quotations on the Dunedin Stock Exchange, which are subject to the usual brokerage:— N.Z. GOVERNMENT LOANS

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

MINING NEWS NGAHERE DREDGE RETURN The Ngahere dredge return for the halfmonth ended November 15 was 301 oz from 99,433 yards for 176 hours. WAITAHU RETURN The -Waitahu Gold Mining Company, Ltd., reports the completion of paddock No. 24, a return of 58oz 2dwt being obtained for 36 shifts of eight hours each. This makes the total gold won from this paddock 115 oz 19dwt, The manager reported that elevating operations on No. 25 paddock commenced yesterday. THE VICTORIA DREDGING CO. For five weeks' dredging ended November 6 the Victoria Dredging Company (W. L.) treated 281,788 cubic yards for a return of 25690 z fine gold. AUSTRALIAN STOCK EXCHANGES (United Press Association) (By Electric Telegraph—Copyright) SYDNEY. Nov. 19. (Received Nov. 19, at' 11 p.m.) Share prices underwent little alteration on 'Change to-day. The Morning Sales.—Commercial Bank of Sydney, £l9 10s; Tooths, £2 Us 6d; Australasian Paper,-£1 12s 7Jd; Australian Consolidated Industries, £1 16s 9d; Broken Hill Pty., £2 6s. Additional Sales.—Bank of New South Wales £2B 10s, United Insurance £lO, Mercantile Mutual Insurance £1 Bs, Australian Consolidated Industries (cont.) £1 4s, Peters £1 0s 3d, Adams 14s 6d. Felt Textiles £1 17s, W. H. Soul £3 10s, Carpenter £1 16s, Electrolytic Zinc £2 12s 4d, Mount Lyell £1 9s 9d, Austral New Zealand Gold £1 4s. , MELBOURNE, 1 Nov. 19.

Commercial Bank of Australia 14s lid, Australian Paper Manufacturers (pref.) £1 6s, Dunlop, Pordriau £1 Os Id. Imperial Chemicals (pref.) £1 4s, Yarra Falls £2 4s 6d, G. J. Coles £3 10s, Cox Bros. 7s 3d, Mount Morgan 10s 6d, Emperor 10s lOd.

a War Loan . 79 15 0 British Tobacco (late Mon.) 2 9 9 Colonial Sugar (late Mon.) . 52 0 0

Buyer. Seller. £ s. d £ s. a 3J p.c. Bonds, 1953-57 101 0 0 — 3} p.c. Stock, 1953-57 101 0 0 — 4 p.c. Bonds, 1943-46 .. 102 10 0 — 4 p.c. Stock. 1943-46 .. 102 10 0 — 4 p.c. Bonds, 1946-49 .. 103 0 0 — 4 p.c. Stock, 1940-49 .. 103 0 0 — 4 p.c. Bonds, Nov., 1948 104 10 0 — 4 p.c. Stock, Nov., 104 10 0 _ 4 p.c. Slock, 1949-52 .. 103 15 0 — 4 p.c. Bonds, 1952-55 .. 105 5 0 — 4 p.c. Stock, 1952-55 .. 105 5 0 — 4 p.c. Bonds, 1954-58 .. 106 15 0 — 4 p.c. Stock, 1954-58 . . 106 15 0 — War Loan, 1953 .. .. 79 10 0 — MINING Austral N.Z. Mining (£1) .." 1 7 0 1 10 0 Big River (Is) .. .. 0 0 6 — Clutha River (2s) ■ — 0 2 3 Gillespie's Beach (Is) — 0 0 6 — 0 7 3 Mclyneux River (2s) 0 0 5 — Nokomai (5s) .. — 0 1 9 Okarito (5s) .. .. 0 0 8 — Sandhills (Is) .. .. — 0 0 1 Waitahu (5s) .. .. 0 0 5 0 0 9 BANKING N.S.W. (£20) .. .. 29 0 0 — New Zealand (£1) .. n is 9 1 19 9 N.Z. (Long D; £1) .. — n 8 0 Commercial (10s) 0 14 10 — E.S. and A. (£3) — 5 0 0 Natl, of N.Z. (£2 10s) — 2 0 0 SNSURANCE National (7s) .. .. — 0 18 2 New Zealand (£1) .. 3 0 3 — Standard (£1) .. .. 2 18 R — SHIPPING P. and O. Def. Stock. (£1) 1 3 6 1 6 0 U.S.S Co. (pref.; £1) 1 6 3 — MEAT PRESERVING N.Z Refng (cont.; 10s) 0 9 2 0 9 4 South Otago Freezing (£5) .. 5 0 0 -w. Waitaki Farmers (£5) 4 15 0 — LOAN AND AGENCY Dalgety and Co. (£5) — 7 0 0 Natl. Mortgage (B issue; £1) 1 0 0 — Perpetual Trustees (18s) 2 10 3 — Trustees. Executors (£3) 4 2 0 — Wright, Stephenson (ord.; £1) .... — 0 19 6 Wright, Stephenson (pref.; £1) .. .. 1 0 0 —; COAL AND OIL Westport (10s) .. .. 1 2 3 — Moturoa Oil (pref.; 5s) — 0 6 0 WOOLLEN COMPANIES Bond's Hosiery (£1) .. 1 8 0 — Bruce (ord.; £1) . 1 0 6 — Bruce (pref.; £1) 1 0 0 _ Kaiapoi (pref.; 17s) .. 0 17 0 — Mosgiel (£4) .. .. 10 10 0 — MISCELLANEOUS Australian Consold. Inds. (£1) 1 18 0 — British Tobacco (£1) — 2 10 0 Broken Hill Propy. (£1) 2 5 6 2 6 3 Chas. Begg 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 2 8 — Dominion Fertiliser (£1) — 1 8 0 Dominion Rubber (£1) — 1 2 9 Donaghy's Rope (£1) 2 13 0 2 15 0 G. J. Coles (£1) — 3 10 0 MacDuffs (ord.; £1) .. 0 11 0 0 12 0 MacDuffs (pref.; £1) 0 18 6 — Milburn Lime (£1) — 2 0 0 McLeod Bros. (£10) .. 26 0 0 27 15 0 Natl. Electric (£1) .. 0 17 9 — N.Z. Drug Co. (£2) 3 16 0 — Farmers' Fertiliser (£1) 1 1 6 — N.Z. Paper Mills (£1) 1 9 0 — Otaeo Daily Times (£1) — 2 0 0 Smith and Smith (pref.; £1) .. .. 0 18 9 — Southland Ice Cream (£1) .. .. .. .. — 1 6 0 Woolworths (N.Z.; ord.; 5s 0 15 6 0 16 1 Woolworths (Sydney; — 0 18 2 BREWERIES Ballins (£1) .. .. _ 0 12 0 N.Z. Breweries (£1) 1 12 3 — Dunedin (£1) .. .. 0 19 9 — AUSTRALIAN MINING Broken Hill South (5s) 1 6 0 — Mount Lyell (£1) .. — 1 11 0 Mount Morgan (2s 6d) 0 10 5 0 10 8 North Broken Hill (5s) 2 0 0 — Wellington Alluvials (2s) — 0 4 6

Otago Farmers (cum.; pref.) Dunedin Ice Cream ... Selfridges (N.Z.) Mackintosh Caley Buyer. £ s. d. 17 6 0 4 1 0 8 3 Seller. £ s. d 10 0 0 10 0