COMMERCE AND FINANCE

Otago Daily Times, Issue 24696, 27 August 1941, Page 2

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE YESTERDAY’S SALES DUNEDIN

AUCKLAND Sales on ’Change,—Bank of New Zealand. £2 (late sale), £2 (2); National Insurance, 19s 7d (3); New Zealand Insurance, £3 7s (2); South British, £2 16s; Dominion Breweries (late sale), • £1 10s; New Zealand Breweries, £1 14s 9d; A.C.1., £2 10s; Farmers’ Trading, £1 Is sd; Farmers’ Trading (B pref.). £1 3s 3d (2); G. J. Coles. £3 6s; M.K. Manufactures, 5s 4d, 5s 6d; Taranaki Oil Development, 2s 3d (3): New Zealand Fertiliser, 19s 6d; Mount Morgan, 9s 7d (late sale), 9s 6d (2); Addison Flat, Is; Auckland Gas (perpetual stock), £9B 15s. Unofficial List.—Silknit, 6s 6d. WELLINGTON • Sales on ’Change. —4 per cent. Stock, 1955 (late Monday), £lO7 7s 6d; 4 per cent. Stock, 1946 (late Monday), £lOl 2s 6d; Bank of New Zealand date Monday), £2; Dunlops (late Monday), £1 3s 3d; Woolworths, N.Z. (late Monday), 14s 3d; Associated Gold Dredges (late Monday), 13s; 4 per cent. Stock, 1955, £lO7 7s 6d (2); 3J per cent. Stock, 1957, £lO2 7s 6d; 4 per cent. Stock, 1946, £lOl 2s 6d; Union Bank, £7 2s 6d; Wellington Investment, 8s 2d (2); New Zealand Insurance, £3 7s; Dunlops, £1 3s 3d; Farmers’ Fertiliser, 19s 6d (2); D.I.C. (pref.), £1 4s- 4Jd; Tooths Brewery, £2 14s. CHRISTCHURCH Sale on ’Change.— Electrolytic Zinc (pref.), £2 16s 3d. Sales Reported.— National Insurance, 19s 7d: Mount Morgan, 9s Bd, 9s 7d. LATEST QUOTATIONS GOVERNMENT LOANS Buyer. Seller. £ s. d. £ s. d. 3J p.c., 1953-57 .... 4 p.c., 1952-55 .. .. 107 0 0 Nat. Develop. Loan ..

LORNEVILLE MARKET LATE RATES MAINTAINED (P.A.) INVERCARGILL. Aug. 26. The entry of fat cattle at Lorneville stock sale to-day included a much larger percentage of good quality bullocks than usual. The market remained firm from the beginning to the end, and prices were much the same as those ruling last week. Extra prime quality bullocks made to £l9 17s od, prime quality £l6 to £l7, good quality medium-weights £l4 10s to £ls 10s, handy-weights £l2 15s to £l3 10s. and light-weights £lO 10s to £ll 10s Prime quality heifers sold up to £IJ. prime handy-weights £lO 5s to £ll 10s light-weights £9 to £9 15s. and small £8 to £8 10s. Prime quality cows made from £lO 10s to £ll 15s. good quality £9 5s to £lO, medium £7 10s to £8 10s. and inferior £5 to £6. The large yarding of fat sheep included some excellent quality ewes and wethers. The supply exceeded the local demand, and in the absence of outside competition the market for all classes was fully 2s a head lower than last week. Extra prime wethers brought from 33s 6d to 34s 6d, prime quality 31s to 32s 6d. medium 29s to 30s, and light and unfinished 25s 6d to 27s 6d. Prime heav" ewes commanded from 19s 6d to 20s 6d, prime quality 18s to 19s, medium 16s 6d to 17s 6d and lighter 14s to 15s 6d.

RABBIT SKIN SALE VALUES SLIGHTLY EASIER 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 that a heavy offering was forward for yesterday’s auction of rabbitskins, a total of approximately 118 tons being offered. The additional quantity was due to the sale of August 12 being cancelled. From the commencement of the sale, until the close, there was a steady demand, and brokers made good clearances. Exporters again operated freely on all descriptions, the bulk of the offering being destined for the United States, and Canada. New Zealand manufacturers were also in the market, and some good lines of does were purchased on their behalf. As compared with last sale s quotations (August 8), and taking into consideration the quality forward, values were generally slightly easier. First winter bucks sold to 183 d, first winter does to 170 d, second winter bucks to 170 d, second winter does to 161 d, furrier does to 147 d. The official range of prices was as follows: Small, 45Jd to 58d per lb; runners. 70id to 84d; racks, 85d to 91Jd; summers, 80d to 89id; dawny autumns, 87id to 92d; early autumns, 93d to 99d; late autumns, 102 d to 106 d; first incomings, 113 d to 120 d; incomings, 106 d to llOd: early winter bucks, 129 d to 150 d: early winter does, 120 d to 136 d; spotted winter bucks, 138 d to 144 d; spotted winter does, 122 d to 140 d; second winter bucks, 164 d to 170 d; second winter does, 151 d to 161 d; first winter bucks, 180 d to 183 d; first winter does. 166 d to 170 d; outgoing winter bucks. 118 d to 131 d; outgoing winter does. 105 d to 120 d; furrier does, 141 d to 147 d: first spring bucks, 96d to 113 d; first spring does, 98d*to 108 d; stained does. 107 d to 109 d; first milky, 95d to 98d; milky, 85id to 89d; summer broken, 76|d to 80Jd; autumn broken, 83Jd to 89d; first winter broken, 93d to 98£d: summer fawns, 66d to 70d; autumn fawns, 90d to 94d; first winter fawns. 120 d to 137 d; summer black, 70d to 74d; autumn black. 82d to 96d; first winter black, 114 d to 147 d; first hareskins, 90d to 95d; hareskine, 59Jd to 66id; horeshair, 29d to 33id; first ferrets, 10s Id to 12s 4d; second ferrets, 3s 6d to 9s; ferrets (white), 5s 6d to 8s sd; third ferrets difficult to sell. The next sale will be held on September 9.

REAL ESTATE INSTITUTE STEADY BUSINESS REPORTED The final meeting for the year of the Real Estate Institute was attended by the president. Mr R. S, McKenzie, Messrs A. F. Quelch, P. W. Stabb, J. A. MacDonald, A. J. Campbell, H. L. Young, A. W. Macdonald and R. Hanning (secretary). The report stated that the real estate market at present was satisfactory without being spectacular. Home buyers continued to experience little difficulty in being suited, and where vendors were prepared to meet the market business could usually be effected. The sale of business premises in the city had shown some activity, the demand having outpaced the supply, the inquiry being for good leaseholds as well as for freehold titles.. Mortgage money (first ana second) was at. present plentiful,. encouraging home buyers lacking large capital. ■ , , , A number of sales of businesses had been reported, the demand being for the freehold title in country towns, as well as in the city and suburbs. Where a regular, profit could be substantiated, sales were forthcoming, Although in some instances considerable negotiations were necessary. The sale of sections was not great owing to the high cost of construction, although houses being erected for sale purposes seemed to find buyers within a short time. There was a strong appeal in a new home, with its modern labour-saving appointments, and a new home with its life before it was preferred by mortgage investors. Houses to let were still short of supply, •although there had been some business in flats, both furnished and unfurnished, ■’* KAIAPOI WOOLLEN DIVIDEND (P.A.) CHRISTCHURCH, Aug. 26 The directors of the Kaiapoi Woollen Company have recommended a dividend of 5 per cent., plus a bonus of 1 per cent, on both preference and ordinary shares. AUSTRALIAN STOCK EXCHANGES (Rec. 11 p.m.) SYDNEY, Aug. 26. General confidence among investors resulted in share prices moving higher. The Morning Sales.—Associated News, 12s Id; Bonds Industries. £1 9s; British Tobacco, £2 6s 6d; Broken Hill Proprietary (cont.), £1 7s 4Jd; Cash Orders, 16s 3d; Colonial Sugar, £SO 10s; Edwards Dunlop, £2 4s 3d. Additional Sales.— Bank of New South Wales, £26 3s; Commercial Banking of Sydney, £lB ss; Union Bank. £6 12s 6d; Woolworths, 17s 9a; Carpenter (paid), £1 15s 6d; Felt and Textiles, £2 0s 6d; Newbold (ex div.) £1 'ss Id; Wilcox Mofflin. 10s 10d; Electrolytic Zinc (pref.), £2 15s 3d; Broken Hill Proprietary. £1 18s 6d; Rawang, 8s 9d; Oil Search, 5s 2d. MELBOURNE, Aug. 26. Commercial Bank of Australia. 14» Id; Australian Foundation Investment Trust, 3s 9d; United Provisions, 7s lOd, Yarra Falls, £2 4s; Emperor, 11s; Mount Morgan. 9s 9d; Broken Hill Proprietary, £1 18s 4d.

Sales Reported £ S. d. 4 p.c. Stock, 1946-49 .. .. 105 12 6 Dalgety and Co 6 5 0 Dunlop Rubber 1 3 3 N.Z. Drugs 3 19 3 N.Z. Breweries (2) .. .. 1 14 9 Mount Lyell 1 7 9 Mount Morgan 0 9 9

BANKING New Zealand (£1) .. 1 19 0 — Natl, of N.Z. (£210s) 1 18 6 — Union (£5) .. .. 6 15 0 — INSURANCE AND SHIPPING National (7s) .. .. 0 19 6 0 19 9 South British (10s) .. 2 14 9 — Standard (£1) .. .. 3 0 6 — P. and O. Stock (£1) 1 8 0 — U.S.S. Co. (pref,; £1) 1 6 0 — MEAT. LOAN AND AGENCY N.Z. Ref rig. (£1) .. 0 19 0 — N.Z. Refrig. (10s) 0 8 9 — South. Froz. (ord.; £1) 1 12 9 — Waitaki Farmers (£5) 4 10 0 — Natl. Mortgage (£2) 1 14 0 — Natl. Mort. (B; £1) 1 1 6 — L, and M. (ord.; £100) 31 0 0 — Perpetual Trust. (18s) 2 Iff 6 — Trustees, Exec. (£3) 4 5 0 — W.S (pref.: £1) 0 19 6 — COAL Kaltangata (16s) 1 11 0 1 13 0 Westport (10s) .. .. 1 3 0 — W.-Stock. (ord.; 10s) 0 2 5 —• W.-Stock. (pref.; 10s) — 0 7 0 WOOLLEN COMPANIES Bruce (ord.; £1) 1 1 6 — Mosglel (£4) .. .. 10 5 0 — MISCELLANEOUS British Tobacco (£1) 2 6 0 — Broken Hill Pty. (£1) 2 2 0 ,— B., Ewing (ord.; £1) — 0 18 6 C. Begg and Co. (£1) 0 19 0 — D.I.G. (ord.; 10s) .. 0 14 0 — D.I.C. (pref.; £1) .. 1 4 0 TDom. Fertiliser (£1) 1 2 6 Donaghy’s Rope (rts.) 0 14 0 0 14 5 Farmers’ Trading (£1) ■— 1 2 0 G. J. Coles (£1) .. 3 5 0 — Milburn Lime (£1) .. 1 17 6 — • Natl. Electric (£1) 1 0 6 — N.Z. Drug. Co. (£2) 3 18 9 — N.Z. Drug (£1 pd.) 2 9 9 N.Z. Paper Mills (£1) 1 12 0 — Otago Daily Times (£1) 1 15 0 T Wilsons Cement (10s) 0 19 0 Woolworths (ord.; 5s) 0 14 0 — BREWERIES Ballin’s (£1) .. •• 0 10 0 — New Zealand (£1) .. 1 14 •3 1 15 0 Dunedin (£1) .. .. - 1 1 0 MINING Brok. Hill South (5s) 1 5 6 — E. Zinc (ord.; £1) .. 2 13 0 — E. Zinc, (pref.; £1) .. 2 14 0 — Mount Lyell (£1) .. 1 73 — Mount Morgan (2s 6d) 0 9 4 0 a ii New Broken Hill (5s) 0 11 0 — North Broken Hill (5s) 2 0 0 — UNLISTED STOCKS National Tobacco 1 11 3 — Mackintosh Caley Phoenix 0 11 6 Otago and Southland Finance (cont.) 0 1 8 — Otago and Southland Finance (paid) 0 7 0 — Otago and Southland Finance (pref.) 0 18 0 1 0 0 Otago Fanners (ord.) 0 1 8 O. Farmers (A pref.) — 1 0 0