COMMERCE AND FINANCE

Otago Daily Times, Issue 24526, 7 February 1941, Page 2

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE INCREASED BUSINESS REPORTED Increased activity was apparent on the Dunedin Stock Exchange yesterday, a number of parcels changing hands. Four per cent. Government Stock, 1940-43 issue, was dealt in at £lO2 ss, the market closing with a buyer at £lO2. A steady demand for the remaining Government loans was noted. Bank of New Zealands met with a slightly firmer inquiry at £2 0s 9d, sellers remaining unchanged at £2 Is. E.S. and A. Banks changed hands at £4, a final buyer at the same figure being unsupplied. Contributing New Zealand Refrigeratings were the subject of business at 8s 6d, the market closing with a buyer at 8s 4d and a seller at 8s 9d. There was a slight improvement in the market for Dominion Rubbers, buyers offering 15s 9d, but sellers would not accept less than £ 1 Is. Buyers of. National Electrics offered the fractionally firmer figure of 19s 3d, and New Zealand Drugs were also a trifle stronger with a buyer at £3 17s 3d. New Zealand Woolworths ordinary shares changed hands at 14s 6d, buyers' final offer being 14s 4d, while sellers asked 14s Bd. YESTERDAY'S SALES DUNEDIN

AUCKLAND Sales on 'Change.—Bank of New Zealand, £2 Is; National Insurance (late sale), 19s 2d; New Zealand Insurance, £3 3s 9d; South, British, £2 lis; Newton King (paid; late sale), 9s 3d; Westport-Stockton (pref.), 6s 9d; Auckland Gas, 7s 2d; Auckland Gas (cont). 2s 10d; Dominion Breweries, £1 10s 9d; New Zealand Breweries, £1 13s; British Tobacco, £2 9s 3d; Broken Hill Proprietary, £2 6s; Macky Lo«an, £1 Is; Wilsons Cement, 19s; Woolworths (Syd.), 17s 6d; Mount Lyell (late sale), £1 8s 6d; Mount Morgan, lis Bd. WELLINGTON Sales on 'Change.—4 per cent. Stock, 1946 (late Wednesday), £lO3 17s 6d; Woolworths, Ltd. (late Wednesday), 17s 8d; 4iper cent. Stock. 1949, £lO3 15s; Bank of New Zealand, £2 Is; New Zealand Insurance, £3 3s 9d; Dominion Breweries, £1 lis; Broken Hill. £2 6s; Wilsons Cement (3). 19s; Woolworths (N.Z.). 14s Bd. '••■•' CHRISTCHURCH Sales on 'Change.—Bank of New Zealand (2). £2 is; Broken Hill Proprietary. £ iales Reported.-Bank of New South Wa"s (cunVdiv.). £29 12s 6d; Broken Hill Proprietary (2). M *»: Canterbury Sale Yards (cum div.), £1 lis 6d. AUSTRAUAN MARKETS (United Press Association) (By Electric Telegrfcoh—Copyright) SYDNEY, Feb. 6. (Received Feb. 6, at pjn.) The wheat market is brighter. Silo grain is quoted at 3s U«d and bagged 4s lid Flour, £l2 13s. Bran and pollard, £6. Potatoes: Tasmanian, £11; others, £lO. Onions: Brown Globes, £l7 los. Maize. 6s 9d. AUSTRALIAN STOCK EXCHANGES SYDNEY, Feb. 6. (Received Feb. 6, at 11.50 pm) ■ On the Stock .; Exchange holders of Eastern tin shares exhibited nervousness regarding the situation in the East, and accepted reduced offers on Change today, resulting in falls, the heaviest for a long time, ranging from Is to 4s. The investment market was otherwise un- ° TheVornlng Sales.—Union Bank, £6 8s; Associated News, 12s lOd; Australian Consolidated Industries (cont.), £1 7s 4Jd; Broken Hill Proprietary, £2 4s 6d; Mila<quln Sugar, £2 Is. 1- ..... ;'-.«., . Additional Sales.—Bank of New South Wales, £26 17s; Commercial Banking of Sydney. £lB 16s; Coles, £3 6s 3d; Woolworths, 16s lOd; Morts Dock, 18s 6d; Newbold, £1 6s 6d: Gordon and Gotch, £2 4s; Larut, 6s 9d; Rawang, 7s 9d; Kuala Kampar, 15s; Pungah. £1 Is 9d. DIVIDENDS PAYABLE The following is a list of stocks on which dividends will shortly be payable:— Chrlstchurch Gas—Final, 3 per cent., .making 5 per cent. . per annum .. ........ To-day Commercial Bank of Austnuia-r-Interim, half-year, ord. at 4■ _ per cent To-day Wellington Gas—Pinal, 4 per cent., making 8 per cent. • per annum .. ........ fen. 11 New Zealand Insurance—lnterim, • . Is per share .. ••••,•-,•• FeDl 1Z Queensland National Bank—lnterim at 5 per cent, per annum Feb. 13 Mount Morgan—Pref.. at 8 per cent, per annum .. •• •• * eD - 10 Woolworths (W A.)—Final halfyear, pref., 4 per cent FeD. v> Woolworths. Ltd.—First pref., 5 per cent., second pref., 3ft per cent .. • > JTcD. 1« Bank of New South Wales—Quarterly, 6s per share (Australian currency) *eD. *i Electro. Zinc—Half-year, 6 per cent., ord. and pref. Mar. 14 CLINTON SALE The Clinton sale yesterday attracted only a moderate entry, consisting mostly of forward lambs and a few fat wethers. Interest was taken in the fixture, as it commenced the season's operations for the disposal of surplus stock in the district. The lambs forward were well grown and in good order. The entry attracted I number of local buyers, and the Tapanui district was also represented. Competition was. keen, and. all the lines on offer we?e sold at satisfactory prices Forward lambs realised from 17s 8d to 18s 9d, cull wether lambs 10s 7d, mixed sex lambs 19s 7d. and fat wethers 265. About 30 head of mixed cattle were yaVded. these selling at full market rates Dairv heifers made £5 7s 6d. empty heifers to £6, and mixed sex calves £2 17s.

RESERVE BANK INCREASE IN STERLING FUNDS NOTE ISSUE SLOWLY RECEDING , (Feb United Press Association) WELLINGTON, Feb. 6. The following is a statement of the assets end liabilities of the Reserve Bank as at the close of business on •February 3:— LIABILITIES Jan. 27. Feb. 3. £ £ 1. General Reierve Fund .. 1,900,000 1,500,000 2. Bank notei 21,824,947 21,673,061 3. Demand liabilities—(a) State 7.974,312 8,007,660 (b) Banke 14,329,525 15.406,565 (e) Other 1,346,344 468,009 4. Time deposits 5. Liabilities In currencies other than New Zea> land eurrenolei .. .. 12,236 9,141 6. Other llabilltlei .. .. 1.038,759 1,028,923 , Total 148,026,325 {48.993,381 ASSETS 7. Reserve— > (a) Gold 2,801,878 2,801.878 (b) Sterllni exchange .. 13,359.438 14,379,056 (e) Gold exchange .... 8. Subiidlary coin .... 57,414 56,976 9. Discounts—(a) Commercial and airl* cultural bills .. (b) Treasury and looal body bills .... 10. Advances—(a) To State or Stats undertakings—(l) Primary Produce Marketing Department 3,241.181 2,903,085 (2) For other purposes 23,690,000 23.690,000 (b) To other publlo authorities ■ - - to) Other .. .... .. 11. Investments .. .. .. 3.770.595 3,777,184 12. Bank buildings .... 13. Other assets 1,105.837 1.388,202 Total ~ .. ..'.-. £46,026.325 (48,993,381 Proportion of reserve (No 7 leu No. 5) to notee and other demand llabilltlei .. 35.112% 36.964% Sterling exchange is expressed In Now Zealand turreney. LATEST QUOTATIONS SOME MINOR ADVANCES The following are yesterday afternoon's buying and selling quotations on the punedin Stock Exchange, which are subject 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:—

Sales Reported £ s d N.Z. Refrigerating (cont.) N.Z. Drug (new issue) .. .. Woolworths (N.Z.) 102 5 4 0 0 8 1 19 0 14 0 0 6 6 6 Unlisted Stock Otago and Southland Finance 0 2 0

Buyer. Seller. £ s. d. £ s d 31 P.C. Bonds, 1953*97 100 0 0 — 31*11.0. Stock. 1953-57 100 0 0 100 10 0 4 p.c. Stock, 1940-43 ... 102 0 0 — 4 p.c. Bonds, 1943-46 .. 103 15 0 *■" 4 p.c. Stock, 1943-46 .. 103 15 0 —■ 4 p.c. Bonds, 1946-49 .. 103 15 0 — 4 p.c. Stock, 1946-49 ., 103 15 0 ■*» 4 p.c. Stock, 1949-52 .. 104 0 0 ~" 4 p.c. Bonds. 1952*55 .. 104 10 0 — 4 p.c. Stock, 1952-55 .. 104 10 0 TWar Loan, 1953 .. .. 81 5 0 MINING Big River (Is) .. .. 0 1 0 0 1 4 Clutha River (2s) .-. — 0 2 2 Gillespie's BeacH (Is) — 0 0 5 1 Grey River (10s) - — 0 16 9 Molyneux River (2s).. 0 0 4 — Nokomai (5s) .. .. ' — 0 2 0 Okarito (5s) 0 1 e 0 2 ? Sandhills (Is) .. .. — 0 0 1 Waitahu (5s) ;••. ' — 0 0 9 BANKING 8 12 6 — 2 0 9 1 1 0 N.Z. (long D; £1) .. E.S. and A. (£3) 1 8 3 — • 4 0 0 — Natl, of N.Z. (£2 10s) — 2 0 0 7 0 0 ~~ INSURANCE National (7s) .. .. 0 18 9 — South British (10s) .. 2 10 0 — Standard (£1) .. .. 2 19 0 — SHIPPING i Howard Smith (£1) .. 1 1 0 — U.S.S. Co. (pref.: £1) 1 6 0 — MEAT PRESERVING N.Z. Refrig. (paid; — 1 0 0 N.Z Refrig. (cont.: 0 8 4 0 9 0 South. Frozen Meat (paid; £1) — 1 15 3 South Otago Freezing (£5) .. .. .. .. 5 1 0 — LOAN AND AGENCY Natl. Mortgage (B issue; £1) .. .. 1 1 9 — N.Z Guarantee Corp. (3s) .. .. 0 2 9 0 3 2 Perpetual Trustees 2 10 6 —• Trustees. Executors 4 2 0 — 'i Wright, Stephenson (ord.; £1) .... — 0 19 0 Wright, Stephenson (pref.; £1) .. .. 0 19 6 *"• GAS Christchurch (£1) .. . — 1 t 3 COAL AND OIL Westport (10s) .. .. _ 1 4 0 Westport - Stockton (pref.; 10s) .. .. Moluroa Oil (pref.; 5s) 0 6 3 — — 0 5 0 Taranaki Oil (£1 4s 0 2 S 0 6 6 Taranakl Oil Develop. 0 2 6 0 4 6 WOOLLEN COMPANIES Bruce (ord.; £1) .. 1 0 6 _ Bruce (pref.; £1) 1 0 0 — Kaiapoi (cont.; 7s) .. 0 4 5 — Kaiapoi (pref.; 17s) .. 0 17 0 — Wellington (ord.; £5) — 7 0 0 MISCELLANEOUS Aust. Consold. Inds. (£1) 1 19 6 — Aust Iron and Steel (pref.; £1) .... 1 7 0 _ Broken Hill Pty. (£l) Chas. Begg and Co. .. l"l 0 2 6 3 D.I.C. (ord.; 10s) .. 0 13 9 — D.I.C. (pref.; £1) .. 1 3 3 — Dominion Fertiliser (£1) 1 7 0 1 8 0 Dominion Rub. (£1) 0 15 9 1 1 0 Donaghy's Rope (£1) — 2 15 0 Dunlop Perd. Rubber (£1) .. 1 0 «t __ Felt and Textiles (£1) 1 19 6 — Kauri Timber (£1 5s) 1 0 0 ' — MacDuffs (ord.; £1) .. 0 9 C — MacDufifs (pref.; £1) t0 19 3 1 0 6 Milburn Lime (£1) .. 1 17 0 — Natl. Electric (£1) .. 0 19 3 — N.Z. Drug Co. (£1) .. 3 17 o — N.Z. Paper Mills (£1) Otago Daily Times 1 0 6 1 11 6 (£1) — 2 0 0 Regent Theatre (£1) — 1 0 0 Smith and Smith (pref.; £1) .. .. _ 1 0 0 Southland Ice Cream (£1) .. — 1 5 6 Woolworths (N.Z.; 0 14 4 0 14 8 Woolworths (Sydney; 0 17. 0 — Woolworths Properties Ltd. (6 p.c. pref. „ 1 3 9 — BREWERIES N.Z. Breweries (£1) 1 13 3 Dominion (£1) .. .. 1 10 9 1 11 9 Dunedln (£1) .. .. 1 0 0 1 3 0 AUSTRALIAN MINING Electro. Zinc (pref.; £1) 2 14 0 — Emperor (10s) .. .. 0 12 6 — Mount Lyell (£1) .. — 1 9 0 Mount Morgan (2s 6d) 0,11 3 0 11 10 Rawang Tin (10s) .. — 0 8 6 t Cum dividend.

Buyer. Seller. £ s. d. £ s. d Dunedin Ice Cream .. 18 6 — Selfridges (N.Z.) 0 6 0 — Otago and Southland 0 19 — Mackintosh Caley 0 8 9 0 10 6