COMMERCE AND FIRANCE

Otago Daily Times, Issue 24716, 19 September 1941, Page 2

COMMERCE AND FIRANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE YESTERDAY’S SALES DUNEDIN

AUCKLAND Sales on ’Change.—War Loan. 1953, (2) £B7 5s ditto. 1951-54 (3), £96 15s; Stock. 1949-52. 4 per cent., £lO6 10s; Auckland Gas Perpetual Stock (4). £93: Commercial Bank of Australia. 15s 3d; (late sale). 15s 3d; Bank of New Zealand (5). £1 19s 9d: New Zealand Insurance. £3 6s 6d: South British (5), £2,153; Auckland Gas (2). 7s: Felt and Textiles. £2; ditto, (rights: 2). 8s 3d: Donachy's Rope (rights). 16s 3d; K. D V. Boxes, 9s; Morts Dock. £1; Sandford (ord.L 4s 9d - Wilsons Cement. IDs 6d: Wool worths (N.Z.). 14s 4d; Woolworths (Svd.; cum div.). 18s 2Jd; Martha, 8s 2d. 1 Unofficial List. —Auckland Farmers' Freezing, £ 1 3s. WELLINGTON Sales on ’Change,—Felt and Textiles (rights: late Wednesday: 3). 8s 6d; Donaghy’s (rights; late Wednesday). 16s 6d; A.C.I. (new fully-paid). £2 12s 3d; War Loan. 1953. £B7 ss: ditto., £B7; 31 per cent. Stock, 1957-60, £99 | 10s; 4 per cent. Stock. 1949-52, £lO6 10s; Felt, and Textiles (rights). 8s 6d, Mac Duff’s (pfef.). 19s lid; G. J. Coles, £3 8s; Burns Philp, £2 12s. CHRISTCHURCH Sales Reported.—Rural Bonds, 5 per cent.. 1947, £lO2 10s; War Loan. 3 per cent.. 1951-54, £93 15s; New Zealand Insurance. £3 6s 6d; Goldsbrough Mort. £1 8s; Westport Coal, £1 4s 6d; Australian Consolidated Industries 1 (new fully-paid). £2 12s: Wilsons I Cement (3). 19s 7d, j HARBOUR BOARD LOAN | (P.A.) AUCKLAND. Sept. 18. The Auckland Harbour Board has arranged the issue of a loan of £200.000. being the second issue of the 1937 loan of £l.-000.000. It is for an export wharf and related operations. The period is fixed at 30 years, the interest at 3:1 per cent., with sinking fund of 2 per cent, annually. The issue, which is now open, is in £IOO debentures. PUBLIC TRUST OFFICE Estates of a value of £540,564 were accepted for administration by the Public Trustee during the month of August. Grants of administration made by the court in favour of (he Public Trustee numbered 230 for the month, and 1162 new wills appointing the Public Trustee executor were prepared on behalf of testators and lodged for safe custody, and 370 existing wills were revised to provide for changes desired by testators. SYDNEY STOCK EXCHANGE (Rec. 11.30 p.m.) SYDNEY, Sept. 18. On the Stock Exchange the downward trend in prices went on to-day. with a substantia] contraction of trading. The undertone of the market was, however, firm. The Morning Sales.—Commercial Bank of Sydney. £l9: Tooths £2 13s 6d: Associated News. 13s: Australian Consolidated Industries. £2 9s 6d; Bond’s Industries. £1 8s 6d; Broken Hill Proprietary, £l ]9s (contributing £1 ’8s): Burns. Philo. £2 13s; Cash Orders. 16s fpref., £1 4s 6d). Additional Sales.—Bank of New South Wales. £26 10s; Colonial Sugar. £49 19s 6d; Drug Houses. £1 9s 3d: Dunlops. £1 2s lOd: General Industries, 18s 3d: Kandos. £1 13s 6d; Adams, 15s Igd; Mount Morgan. 9s; North Broken Hill, £2 4s 3d: Emperor. 12s; Oil Search, 5s 4d.

WORKING RAILWAYS LATEST FOUR-WEEKLY RETURN DECLINE IN NET REVENUE (P.A.) WELLINGTON. Sept. 18. The following is the railway working account for the four-weekly period ended on August 16:—

Total- £773.095 £773.784 >£6B9 * Excess of Expenditure. From April 1. 1941, to August 16, 1941. the totals were Revenue. £4,148.657: expenditure. £3,728.907: net revenue.£4l9.7so. For the corresponding period last year the totals were—Revenue, £4,111.854; expenditure, £3,587,359: net revenue, £524.495. LATEST QUOTATIONS GOVERNMENT LOANS

RESERVE BANK ADVANCES AT LOWER LEVEL STERLING FUNDS IMPROVE (P.A.) WELLINGTON, Sept. 18. Tlio following is a statement of the assets and liabilities of the Reserve Bank as at tire close of business on September 15:— LIABILITIES Sept. 8. Sept. 15, £ £ 1. General Reserve Fund .. 1.500,000 1.500.000 2. Bank notes 22,226,729 22,142,196 3. Demand liabilities—(a) Stale 9,016.980 9.020.770 (b) Banks 7.778,965 8.055.899 (c) Other 3,518.381 711.230 4. Time deposits 5. Liabilities In currencies « other than New Zealand currencies .. .. 11,771 10.119 6. Other liabilities .. .. 990,837 979,814 Total £45,043,665 £42,420.066 ASSETS 7. Reserves—(a) Gold 2,801,874 2.801.871 (b) Sforlina exchange 13,993.187 14,512.883 (c) Gold exchange .... 8. Subsidiary coin .. .. 45.742 45,960 9. Discounts—(a) Commercial and agricultural bills .... (b) Treasury and local body bills .... 10. Advances—(a) To State or State undertakings—(l) Primary Produce Marketing Department .. 6,609,323 6,961,501 (2) For other purposes .. .. 16,000,000 12,500,000 (b) To other public authorities - (c) Other 200.000 200,000 11, Investments 3,822,821 3.822.858 12. Bank buildings .... ~ 13, Other assets 1,570,715 1,574,980 Total £45,043.665 £42,420,066 Proportion of loscrvcs (No, 7 less No. 5) to notes and other demand liabilities .. 39.45281) 43,337% Sterling exchange is expressed in New Zealand currency. CLINTON SALE HORSES IN BETTER DEMAND The Clinton sale, held yesterday, attracted a small attendance of local buyers. Hoggets, which comprised tne bulk of the yarding, met with good competition, and a total clearance was effected at satisfactory rates. Medium ' to good ewe hoggets sold from 30s , to 34 s Id. smaller descriptions 25s 9ci. 1 wether hoggets 20s, and store wethers 23s ' Several useful draught horses were also offered, and the demand for these showed a welcome improvement. Active young horses realised' from £2l to £25 10s, eight-year-old mares £ls. and good aged sorts £l2. AUSTRALIAN MARKETS (Rec. 11.30 p.m.) SYDNEY. Sept. 18. Wheal: Bulk is quoted at 3s Hid; bagged at 4s Flour, £l2 13s. Bran and pollard, £6’. Potatoes; Brownells. £10; others, £6. Onions; Brown, £3O. Maize: Yeliow and white. 3 S Bd.

Sales Reported £ d. Felt and Textiles (rights; 2) 0 8 3 New Zealand Insurance . • 3 6 6 Auckland Gas 0 7 0 N.Z. Drug (new issue) 2 10 0 N.Z, Paper Mills • ■ 1 12 6 North Broken Hill 2 5 0 Donaghy's (rights; late yes.) 0 15 10 0 16 0

Section Rev, Expend. Net Rev. £ £ £ Gisborne 1,672 3.097 *1,425 North Island main line and branches 417.219 421,584 *365 South Island main line and branches 235.628 248.957 •13,329 Westport 6,483 6,899 2,531 Nelson 622 1,424 *762 Plcton 2,471 4,021 *1,550 Total railway operation 667,135 688,982 *21,8-17 Miscellaneous services 105.060 84.802 21.153

Buyer. Seller. £ s. d £ s. d 3i p.c. Bonds, 1953-57 101 10 0 — 3J p.c. Stock, 1953-57 — 102 5 0 4 p.c. Bonds. 1943-46 .. — 101 15 0 4 p.c., 1946-49 .. .. — 105 12 6 4 p.c. Stock, 1949-52 -— 107 0 0 4 p.c., 1932-55 .. .. 106 0 0 — War Loan, 1953 . . 86 13 0 87 0 0 BANKING N.Z. (£1) — 2 0 3 N.Z. (Long D; £11) — 1 12 3 Commercial (10s) 0 14 9 0 15 6 Natl, of N.Z. (£2 10s) — 2 0 0 INSURANCE AND SHIPP ING National (7s) .. .. 0 19 4 0 19 8 New Zealand f£l) 3 5 9 3 7 0 Standard (£1) .. .. 3 1 0 — U.S.S. Co. (pref.; £1) I 6 3 — MEAT. LOAN AND AGENCY N.Z. Refrig. (10s) .. — 0 9 1 South Otago (£5) 5 0 0 — Waitaki Farmers (£5) 4 12 0 — Nall. Mortgage (£2) 1 14 9 — Natl. Mort (B: £1) 1 1 G — L. and M. (ord.: £100) 35 0 0 — Guar. Corp. (3s) 0 2 9 — Perpetual Trust (13s) 2 10 6 — T'-ustees. Exec (£3) 4 5 0 — W.S. (ord.: £1) .. .. — 0 19 9 W.S (pref.; £1) 0 19 0 — GAS, COAL, AND OIL Kaitangata (16s) 1 11 9 1 13 6 Westport (10s) .. .. 1 3 10 — W.-Stock, (ord.; 10s) 0 2 4 0 2 7 W.-Stock, (pref.; 10s) 0 6 6 — Moturoa (pref.; 5s) .. — 0 5 0 WOOLLEN COMPANIES Bond's Hosiery (£1) 1 7 6 — Bruce (ord.; £l) 1 3 0 — Bruce (pref.; £1) 1 1 6 — Mosgiel (£4) 10 7 0 — Oamaru (£1)) 1 1 0 —r Timaru (£1) •• •• 0 16 9 0 13 6 MISCELLANEOUS Broken Hill Pty. (£1)) 2 2 0 2 3 3 D.I.C. (pref.; £1) .. 1 4 0 — Dom. Fertiliser (£1) 1 3 3 — Donaghy's Rope (£1) 2 5 0 — Don. Rope (rights) .. 0 15 6 0 16 0 Felt and Textiles (£1) 0 7 9 — G. J. Coles (£1) 3 5 0 — Kauri Timber (£1 5s) 1 3 0 — MacDuffs (ord.; £1).. — 0 9 4 MacDuffs (pref.: £1) — 1 0 T Milburn Lime (£1) — 1 17 3 — Natnl. Electric (£1) .. 1 2 9 -— N.Z. Drug Co. (£2) 3 17 9 — N.Z. Drug (£1 paid) 2 9 9 — Farm. Fertiliser (£1) 0 19 0 — N.Z. Paper Mills (£1) 1 12 0 — O.D. Times (£1) 3 17 3 — Wilsons Cement (10s) 0 19 3 — Woolworths (ord.; 5s) 0 14 0 0 14 6 Woolworths (Syd.; 5s) — 0 18 7 Woolworths Prpts (£1) 1 5 9 — BREWERIES New Zealand (£1) .. _ 1 16 3 Dunedin (£1) •• — 1 1 3 MINING Broken Hill South (5s) — 1 9 9 Mount Lyell (£1) .. 1 7 6 1 9 6 Mount Morgan (Ss 6d) 0 9 0 0 9 6 North Broken Hill (5s) — 2 5 6 Wgtn. Alluvials (2s) .. 0 3 3 — UNLISTED STOCKS National Tobacco 1 11 6 — Mackintosh Caley Phoenix 0 14 6 0 15 6 O. and S. Finance 0 1 8 — O. and S. Finance (paid) 0 7 0 — O. and S. Finance (pvef.) 0 13 0 — Otago Invest. Trust .. 0 0 6