COMMERCE AND FINANCE

Otago Daily Times, Issue 24506, 15 January 1941, Page 2

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANQE SEVERAL GAINS RECORDED New Zealand Refrigeratings, preferred Westport-Stocktons and New Zealand Breweries were all firmer on the Dunedin Stock' Exchange yesterday, when the demand generally was good. Paid-up Refrigeratings were turned over at £1 Is and closed with a buyer at £1 Os 6d and a seller at £ 1 Is 3d. The contributing shares were still in demand at 9s 6d; but sellers would not come below 9s lOd. Up to 6s was offered for preferred West-port-Stocktons without . attracting a seller. Australian industrials were steady with A.Cl's wanted at £1 18s and Broken Hills at £2 6s 6d. The selling quotation for G. J. Coles was £3 lis and Sydney Woolworths were unchanged with a seller at 17s 9d. ■''■■•■- New Zealand Breweries changed hands at £1 13s 3d, representing a marked improvement on the last sale recorded. They closed with an unsupplied buyer forward at £1 12s 9d. YESTERDAY'S SALES Sales Reported £ s. d. N.Z. Refrig. (pd.) 110 N.Z. Breweries , 1 13 3 AUCKLAND , Sales on 'Change.—War Loan, 1953, £81; Auckland Harbour Board, 1947," 4i p.c., £103; Bank of New Zealand (2), £2 Is; Broken Hill Proprietary (late'sale), £2 7s; David Jones, £1 15s 9d; New Zealand .'Fertiliser, £1 Is 9d; Peters Ice (N.Z.), 14s; Wellington Alluvials.' 45.6 d. WELLINGTON Sales on 'Change.—David Jones (late Mon.). £1 15s 9d; 4 p.c. Stock, 1946, £lO3 15s; Bank of New Zealand, £2 Is; Broken Hill Proprietary, £2 7s; New Zealand Farmers' Fertiliser, £1 Is 9d. CHRISTCHURCH Sales Reported.—G. J. Coles, £3 8s 3d;. Hays, Ltd. (15s paid), 19s; Westport Coal (2), £1 3s 6d. LATEST QUOTATIONS REFRIGERATINGS FIRMER The following are yesterday afternoon's buying and selling quotations on the Dunedin Stock' Exchange, which are subject to the usual brokerage:— N.Z. GOVERNMENT LOANS

RABBIT SKIN SALE KEEN. COMPETITION The Dunedin Stock Agents and Wool Brokers' Association (Messrs Dalgety and 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 Farmers' Co-operative Association, Ltd., and National Mortgage and Agency Company, Ltd.) reports as follows: — The first rabbit skin sale for 1941 was held yesterday, when an approximate offering of 10 tons was submitted to a good attendance of exporters, furrk«s and the local trade. The offering comprised principally- summers, springs and milkies. with a few parcels of outgoings. Competition: was exceedingly good for all grades and values -were par to a shade better than late rates. The official range of prices was sas -.follows:— Small; 20d to 20id per lb; runners, 29}d to 33id; racks, to 39d; summers, 31id to 34d; outgoing winter bucks, 50d to 63Jd; outgoing Winter does, to 49d; spring bucks, 48d to 56d; spring does, 36Jd to 384 d; milky, ,30d to "34id; summer broken, to 31£d; second broken, 30d to 33Jd; first broken, 36d. to 37Jd; fawns, to 24d; summer black, 25d to 30d; black outgoing, to 35d; hareskirfe, 20Jd to 22d; horsehair, 28d to 31 Jd; deerskins, 2s 6d to 3s. The next sale is listed for February 11 LORNEVIiIE STOCK SALE MORE' BUOYANT MARKET (Peb United Press. Association* ; INVERCARGILL, Jan. 14. With. v the exception .of store cattle, all sections at the Lorneville stock sale today showed a decrease . compared with the yardings of the previous week. In the fat sheep section, wethers and good quality young ew.es improved by from 2s to 3s, compared with last week's prices. Values for good quality cattle rose by from £1 to £1:10s. :.:• .:::::'; The yarding of fat, sheep was exceptionally small, comprising about equal proportions of wethers and.ewes. Because of the small entry, the market was buoyant. Wethers and good quality young ewes showed an improvement of from 2s to 3s, and values for heavy-weight and Inferior quality rose by Is 6d. Prime wethers made from 31s to 32s Cd; good quality, -29 sto 30s 6d: medium, 26s 6d : to' 27s 6d; unfinished, 23s to 24s 6d; good :,quality young ewes, 17s 6d to 18s 6d; medium quality, 15s to 16s; unfinished, 12s tp .14s. There was a very small entry <jf;fat lambs, and butchers competed freely' at prices slightly in excess of the export schedule rates. The yarding of fat cattle, which was good numerically, comprised.maihly cows and heifers, a good percentage of which were of fine quality. Bullocks were in very short supply. For good quality cattle values showed an improvement of from £1 to £1 10s. Medium and inferior quality cattle showed little or no change. Prime quality medium-weight bullocks made from £l4 to £ls 7s 6d; handy-weights, £l2 5s to £l3; lightweights, £lO 15s to £ll 10s; prime medium-weight heifers, £ll 10s to £l2 10s; handy-weights, £lO 5s to £11; light, £8 10s to £9 IQsr. prime quality cows, £ll 5s to £l2 ss; good quality, £lO to £lO 15s: medium, £8 10s to £9 ss; inferior, £5 to £6 10s.. N.Z. INSURANCE OPMPANY k iNTERIMIDiyiDENIJ (PER '■••■-':•' " -.' The directors of the New Zealand Insurance Company have declared an interim dividend of Is a share for the half-year ended November : 30, 1940, payable on February .12...' BRITISH TOBACCO COMPANY \%l PER CENT? DIVIDEND 0 (Fes United Press Association) WELLrNGT&J.rJan. 14. 'The' directors of;.the British Tobacco Company have declared a dividend on the issued preference ' : sharesi-at the rate of 6J per cent, per annum for the three months ending January 31, "■> payable on that date. ' v ;-1 , DIVIDEND? ZIWJM& 1 The following is a list of' stocks on which dividends will shortly be payable:— Wright, Stephenson, Ltd.: Interim, ord. and pref., 2J p.c. Jan. 31 Imperial Chemicai Industries: : Interim, pref., 5 p.c. p.a. ..' Jan. 31 Commercial Bank of Australia: i Interim, pref., 4 p.c; ord., 6 2r3-p.c. v. .. -••■ Feb. T Electrolytic Zinc-Interim., pref. and ord. 6 p.c. ........ Mar. 14 MINING NEWS MOLYNEUX DREDGE RETURNS The return of the Molyneux Gold Dredging Company for the period ended. December 20. was 1940 z for 237 hours' working. The correct return = for the period ended January 3 was 192 d z (: not 182 oz, for 183 hours' working. .' r -' : - ; -'i: STOCK IXCHA^GES (United Press Association) (By Electric Telegraph --Copyright) . SYDNEY, JanJ 14. (Received Jan. 14. at 11.30 p.m>) - •-= I Business was again brisk on the Stock Exchange to-day,- and industrial shares generally .showed a slight : increase. .„• The Morning Sales.—Commercial Bank of Australia, 14s 2d; Tooths, £2 14s ,6d; Austral Gas A, £5 12s; Anthony Hofdern, 12s lid; British Tobacco, £2 10s; Broken Hill Proprietary, £2 6s; Colonial Sugar, £4B ss; David Jones, £ 1.15 s :.3d.,.,„ii,'r Additional Sales.—Development,- £3? 6s; Mount LyeUV_£ r 9st -British Tobacco, ,£2 10s Zinc. £2 13s' 9d; ,-vKandos;- £l*H2*- 3d; •Farmers, £l:.-7s 9dr;-Rlawarirg, ;,95.-3a£A.us-tiralian Corisolidated'lnduStries, El'lSs 3d; Broken Hill Proprietary, £2 6s; Associated News, 13s 6d;.Morts Dock; 19s, " . MELBOURNE, Jan. 14. Coles, £3 8s 9d; Dunlop," 19s lid; Commercial Bank of Australia, 14s 3d. wAihi investments; im DIVIDEND OF, 6 PER GENT. (From 6ub Own Correspondent^ . .:. ■ ■ ' LONDON.-Novi 15i The revenue of Waihi Investments and Exploration, Ltd., amounted to £11,094 in the past year, compared with £6134 in 1939, Mr G. R. Mitchison (the chairman), stated at the-annual meeting this week. A dividend of 6 per; cent.,.'less-. income tax, was declared., •<-' • :V. The increase in revenue, -Mr Mitchison; said, was due principally to the inclusion of a dividend from Puket Tin Dredging,. Ltd. The company's interests in Harrietville (Tronoh), Ltd., had been increased by a little less than £40,000. Investments,, in British Government and other trustee securities were reduced by rather-" oyer that sum.' ■"■'-' :.-:..- ~*~'\ • ■ The book value of investments, excluding shares in Harrietville, which were at present held by the companies concerned and not quoted in the market, amounted to £383,022. Their, market value at September 30 was. £315381, slipping ra depreciation 'of £67,141. ' More than twothirds of that depreciation was.due fto the market quotation's for Puket.Commenting lon . the production of Puket, Mr Mitchison said that the prospect of a dividend from that company this year was " none too hopeful." The dredge had been working for eomevtime past in difficult and poor ground. It was expected that the Harrietville dredge, would be operating* towards -the- latterpart of 1941. VI see ■no Reason to : ,alt«c:;. my good opinion of "the prospective*. Harrietville," Mr Mitchison : . said IT' ■'"".:'-'

Buyer. Seller. £ s. d. £ s . d 3J p.c. Bonds, 1953-57 101 0 0 — 3J p.c. Stock. 1953-57 101 0 0 4 p.c. Stock, 1940-43 .. 101 0 0 ■• •— 4 p.c. Bonds, 1943-46 .. 103 10 0 — 4 p.c. Stock, 1943-46 .. 103 10 0 — 4 p.c. Stock, 1949-52 .. 104 10 0 105 0 0 4 p.c. Bonds, 1952-55 .. 105 0 0 — 80 15 0 — MINING Austral. N.Z. Mining (£1) .. 1 5 0 ■' -^-- Big River (Is) :. .. 0 1 3 — Clutha River (2s) .} — 0 2 3 Gillespie's Beach (Is) — 0 .0 5 Molyneux River (2s) 0 0 4 J— Npkomai (5s) .. — 0 2 0 0 1 6 '. — 'Waitahu (5s)-.. .. .. 0 0 7 0 0 9 BANKING n.z. (£1) .:■•'■:. .. 2 0 1Q 2 1 3 Natl, of N.Z. (£2 10s) — 2 0 0 ..: INSURANCE National (7s) ' '.'. .. 0 18 3 ' ' New Zealand (£1) .. 3 2 0 — South British (10s) .. 2 9 0 ■ — Standard (£1) .... 2 18 3 ,— SHIPPING Howard Smith (£1) .. I 1 3 ; " •*— U.S.S. Co. (pref.; £1) 1 6 0 — MEAT PRESERVING N.Z. Refrig. (paid; £1) 1 0 6 1 1 3 N.Z Refrig. (cont.; 10s) 0 9 6 0 9 10 South. Froz. Meat 8 1 Q ' — LOAN AND AGENCY Dalgetyand Co. (£5) _,-_ ' 6 8 0 Natl. Mortgage (B issue: £1) 1 1 8 — N.Z. Guarantee Corp. (3s) .. .. :•. ,.. 0,1 9 _ Perpetual -Trustees i (18s) .'.. 2 10 6 - — Trustees, Executors (£3) 4 2 0 — COAL AND OIL •Westport (10s) .. ... 13 0 ■ — Westport - Stockton (pref.; 10s) v. 0 6 0 ,'—. Moturoa Oil (pref.; 5s) — OS 0 Taranaki Oil Develop. — 0 4 6 WOOLLEN COMPANIES Bond's Hosiery (£1) 1 10 0 Bruce (ord.; £1) — 1 1 tt Bruce (pref.; £1) .. 1 0 0 — Kaiapoi (cont.; 7s) .. 0 4 8 — Kaiapoi (pref.; 7s) .. 0 17 0 — Mosgiel (£4) .. .. 10 5 0 10 16 0 MISCELLANEOUS Aust. Consold. Indus. (£1) ... 1 18 0 — Broken Hill Pty. (£1) Chas. Begg. and Co. .. 2 6 6 — 1 1 0 — D.I.C, (ord.; 10s) 0 13 6 — D.I.C. (pref.; £1) .. 1 2 6 ' '— Dominion Fertiliser — 1 7 9 Dominion „ Rubber (£1) — 1 1 0 Donaghy's Rope (£1) — 2 15 3 Dunlop Perd. Rubber . — 1 0 6 Felt and Textiles (£1) 1 18 6 — G. J. Coles (£1) .. — 3 11 0 I.C.I, (pref.; £1) •• 1 3 6 —• MacDuffs (ord.; £1) — 0 10 9 MacDuffs (pref.; £1) 0 19 6 — Milburn Lime (£1) 1 15 0 1 19 6 McKenzies Dept. Strs. 2 2 3 — .McLeod Bros. (£10) 26 10 0 27 10 0 Natnl. Electric (£1) 0 18 0 -~ N.Z. Drug (rights) .. — 2 2 0 Farmers' ... Fertiliser '•■ —• 1 2 0 N.Z. Paper Mills (£1). 1 9 3 - — Otago Dally Times 2 0 0 Regent Theatre (£1) ,__ 10 " u Southland Ice Cream -y i a 6 Woblworths (N.Z.; 0 13 9 r-j" Woolworths (Syd.; ... . ord.; 5s) .... — ', . 0 17 9 BREWERIES ■»"' Ballins (£1) "' .. ... — 0 11 10 N.Z. Breweries (£1) 1 12 9 '— Dunedin (£1) .. •• '-"■ 1 4 0 AUSTRALIAN MINING Emperor (10s) oil 3 ' ±r Mount LyellN(£D ... 1 8 0 — Mount Morgan (2s 6d) 0 11 0 0 11 6 North Broken Hill (5s) ...... ••' >■ 2 1 0 _ Placer ' Developments 3 0 0 ■—• Rawang Tin (10s) .. 0 8 9 ~■ Wellington Alluvials (2s) ... •• ,• •• 0 4, 3 ■ — UNLISTED i STOCKS All Stocks in this section are not quoted on the official list, and transactions are subject to a different rate of brokerage *— Buyer. Seller. £ s. d. £ s. d. Dunedin Ice Cream .. 1 8 6 — Self ridges (N.Z.), Ltd. 0 5 6 —