COMMERCE AND FINANCE

Otago Daily Times, Issue 24732, 8 October 1941, Page 2

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE YESTERDAY’S SALES DUNEDIN

AUCKLAND Sales on ’Change. —3i p.c. Stock, 1957-60, £99 ss; 3i p.c. Stock. 1956-5'J £100; Commercial Bank of Australia. 15s 6d; Bank of New Zealand, £2; National Insurance, 19s 9d; N.Z. Insurance. £3 10s; Auckland Gas (con/! 3s; Felt and Textiles, £1 19s (2), Oamaru Wool, £1 4s; Broken Hill Proprietary. £2 2s 6d; Dominion Breweries, £1 10s 6d; Farmers Trading, £1 2s 2d: Coles, £3 6s; Una Hill. Is sd, Is 4d (2). Overseas List. —Woolworths Holdings, 16s 6d. WELLINGTON Sales on ’Change. —4 p.c. Stock, 1948, (late Monday), £lO5 ss; Westport Stockton (late Monday), 2s 6d; Consol Brick (late Monday), 8s; Macduffs (ord.), (late Monday), 9s 2d; Southern Cross Investment (late Monday), 4s; 4 p.c. Stock, 1949-52. £ 106 5s (2); 4 p.c. Stock 1942-46, £lOl 10s; N.Z. Insurance, £3 10s; Oamaru Wool, £1 ss; Woolworths (N.Z.), 14s 3d (2). 14s Macduffs (ord.). 9s 2d. CHRISTCHURCH Sales on ’Change— Springs Ellesmere E.P.B. 3J p.c., 1/10/66, £IOO 10s; Una Hill, Is 6d. . . Sales Reported.— Commercial Bank of Australia, 15s 7Jd; N.Z. Refrigerating (10s paid). 9s 3d; Woolworths (NZ.) 14s 3d (2); National Insurance, £1; Broken Hill Proprietary, £2 2s Co; Dunedin City, 3J p.c., 1/9/54, £lO2. LATEST QUOTATIONS

MINING NEWS ARGO RETURN The Argo Gold Dredging Company, Ltd., has issued the following return for the week ended October 5: 390 z for 121 hours (10,000 yards). ALEXANDER MINES, LTD. The following return for September has been issued by Alexander Mines, Ltd:—Battery department: 128 tons of ore crushed for 720 z 3dwt melted gold, valued at £560. Cyanide department: This was not cleaned up. Concentrates: In addition to the above, 6.5 tons were saved, containing 34.17z0z of gold, valued at £270. In estimating the above returns, gold has been taken at £8 per fine ounce. Work has been confined to ore production above No. 6 intermediate level and north of No. 2 rise. The intermediate level slopes show no change, except in the extreme south end. Tne lode here is gradually improving in size, and now averages two feet in width. Sloping to the north of No. 2 rise, the lode ranges from one to four feet wide, and has improved in length, the sloping length being now 66 feet. One hundred and thirty-three tons were sent to the battery. AUSTRALIAN LOAN CONVERSION tP.A.) WELLINGTON, Oct. 7. The Reserve Bank announced to-day that arrangements had been made to enable New Zealand holders of Australian Consolidated 4 per cent. Stock and Bonds maturing on November 15 to convert their holdings to the Australian War and Conversion Loan which opened to-day. Holders desiring to exercise their option to convert to the new issue should' apply to the Reserve Bank through their bankers or brokers for the necessary certificates.

RABBIT SKIN SALE SATISFACTORY PRICES RECORDED The Dunedin Slock Agents and Woolbrokers’ 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 good offering was again submitted at yesterday’s rabbit skin sale of approximately 40 tons. The demand still continues, all descriptions now forward selling particularly well. Exporters again operated on all grades, and a total clearance was effected. The supply of skins suitable for furriers was small.

As compared with rates ruling at last sale, bucks on the average declined 9d to 12d and does par to 3d. The low grades were also cheaper by 2d to 6d. In assessing the decline, quality must be taken into consideration. the bulk of the offerings being milkys, summers, springs and outgoings. First winter bucks sole to 182 d, first winter does to 175 d. second winter bucks to 176 d, second winter does to 167 d, spotted winter bucks to 159 d, spotted winter does to 150 d, outgoing winter bucks to 147 d, outgoing winter does to 133 d, furrier does to 155 d, spring bucks to 120 d, spring does to 113 d, first milky to IOOd, and milky to 90id. The official range of prices is as follows:—Small 58d to 59Jd per lb, runners 68d to 73d, racks 87d to 88Jd, summers 85Jd to 87 Jd, spotted winter bucks 153 d to 159 d, spotted winter does 130 d to 150 d. second winter bucks 174 d to 176 d, second winter does 162 d to 167 d, first winter bucks 180 d to 182 d. first winter does 172 d to 175 d, outgoing winter bucks 137 d to 147 d, outgoing winter does 120 d to 133 d. furrier does 147 d to 155 d, spring bucks 112 d to 120 d, spring does 98d to 113 d, stained does 115 d to 117 d, first milky 93Jd to 100 d. milky 88Jd to 90 Jd, summer broken 80d to 82d.autumn broken 88Jd to 92Jd, winter broken 97Jd to lOld. summer fawns 70<? to 74d, autumn fawns 80d to 88d. winter fawns 100 d to 115 d, summer black 80d to 86d. autumn black 126 d to 136 d, winter black 148 d to 159 d. first hareskins 80d to 84d, hareskins 50d to 57Jd. horsehair 28d to 31d, ferrets (good. 3s 3d to lls 6d, ferrets (inferior), difficult to sell. . , The next fortnightly sales are listed for October 21 and November 4. Monthly sales will then be held during the summer period. LORNEVILLE MARKET VALUES MAINTAINED (PA.) INVERCARGILL, Oct. 7. The yarding of fat cattle at Lorneville to-day was again a fairly small one. It met with keen competition and the sale generally was as good as last week's auction. Prime quality bullocks made from £lB to £l9 7s 6d; good quality mediumweights, £l6 10s to £l7 10s: handyweights, £l4 15s to £ls 10s: and lightweights, £l2 10s to £l3 10s. Prime heavy cows.sold to £ls ss; prime quality, £l3 10s to £l4 ss; medium, £ll to £l2; unfinished and aged. £9 to £lO ss; and inferior, £5 10s to £6 10s. Prime quality medium-weight heifers commanded from £l3 15s to £ls; handy-weights, £l2 5s to £l3: and light-weights, £lO 10s to £ll 10s. There was an extra large yarding of fat sheep, with a good distribution of ewes and wethers. For the most part the quality was good, but some of the wethers were aged and unfinished. In the absence of any material outside competition the sale was a quiet one, and values over the early part were easier by about 2s a head, but towards the end of the sale they dropped even more, and passings were frequent. Prime quality wethers realised from 33s 6d to 34s 6d: medium. 30s to 31s 6d; light-weight, 27s to 295; and shorn medium quality wethers. 21s to 23s 6d. Prime young ewes made to 265; prime quality. 23s 6d to 24s 6d; medium quality, 21s 6d to 22s 6d; unfinished, 18s to 19s 6d: good quality shorn ewes. 20s 6d to 21s 9d: medium. 18s to 19s; and unfinished. 14s to 15s. SYDNEY STOCK EXCHANGE (Rec. 0.30 a.m.) SYDNEY. Oct. 7. In quiet trading on the Stock Exchange to-day. slight reaction was noted as a result of the advent of a Federal Labour Government. This, however, is expected to die down witn the march of time. Bank of New South Wales, £26; National Bank (£5 paid). £5 15s 6d: Tooth’s, £2 13s 9d; British Tobacco. £2 6s; Kandos, £1 10s 9d: Wilcox. Moffhn, 9s 8d: David Jones, £1 14s 6d; Bradford Cotton, £2; Mount Morgan, 9s Id; Emperor Dividend, lls 4d; Kuala Kampar. 18s 7d; Rawang 8s lid.

Sales Reported £ S. d. Bank of New Zealand 2 0 n 2 0 0 National Insurance (2) 1 0 0 Auckland Gas (coni.) .. .. 0 3 0 MacDufTs (ord.) 0 9 2 MacDuffs (pref.) .. .. 1 0 3 Woolworths (N.Z.; ord.) .. 0 14 3 Mount Lyell 1 8 0

GOVERNMENT LOANS Buyer. Seller. £ s. d, £ s. d 34 p.c. Bonds. 1953-57 101 0 0 — 34 p.c. Stock. 1953-57 101 0 0 101 — Vp!c. Stock, 1943-46 .. 104 — 0 15 0 4 p.c. Bonds, 1946-49 .. 15 1 105 — 4 d.c. Stock, 1946-49 .. — 5 0 4 p.c. Stock, 1949-52 .. 87 — 0 106 War Loan, 1953 .. .. 10 ■ BANKING A’asia. (£5) N.Z. (£1) ■■ •• N.Z. (long D; £1) •• Commercial (10s) .. 8 1 1 0 10 19 11 15 0 9 6 0 2 1 0 1 0 12 15 2 0 7 6 Natl, of N.Z. (£3 10s) — Union (£5) 7 5 0 INSURANCE AND SHtPPINC 0 National (7s) .. ■ ■ 0 19 9 1 2 Standard (£1) • • ■ • 3 3 P, and O. Stock (£1) i 10 0 2 U.S.S. Co. (pref.; £1) i 6 3 MEAT. LOAN AND AGENCY Cant, (ord.; £7 10s) a 5 0 — Cant, (pref.: £5) 7 0 0 N.Z. Refrig. (£1) •• 1 0 9 0 9 N.Z. Refrig. (10s) 0 9 0 Waitaki Farmers (£5) 4 15 0 — Dalgetv and Co. (£5) G 5 0 Nat). Mortgage (£2) .. 1 17 0 — Natl. Mort. (B: £1) 1 L and M. (ord.; £100) 35 0 0 — Perpetual Trust (18s) 10 6 — Trustees, Exec (£3) 4 5 W.S. (pref.; £1) 0 19 0 GAS AND COAL Auckland (cont.) — 0 3 3 Kaitangata (16s) 1 12 Westport (10s) 1 4 W,-Stockton (ord.; 10s) 0 2 5 WOOLLEN COMPANIES Bond’s Hosiery (£1) 1 9 0 — Bruce (ord.; £1) 1 3 Bruce (pref.; £1) 1 1 6 MISCELLANEOUS Broken Hill Pty. (£1) 2 2 0 — C. Begg and Co. (£1) 0 19 0 — D.I.C. (ord.: 10s) 0 14 3 — D.I.C. (pref.; £1) •• 1 4 6 Dom. Fertiliser (£1) 1 0 Dom. Rubber (£1) 17 0 — Donaghy’s Hope (£1) Donaghy’s Rope (new 2 7 6 ii issue) 1 I.C.I. (pref.; £1) 1 4 Kauri Timber (£1 5s) i 3 0 — MacDuffs (ord.; £1) ;; — MacDuffs (pref.: £1) — 6 McKenzie’s (£1) 2 Nad. Electric (£D •• 1 3 N.Z. Drug Co. (£2) .. 3 18 3 — N.Z. Drug (£1 Pd-).^. 2 10 0 ' N.Z. Newspapers (16s N.Z. Paper Mills. (£1) i i a 13 9 3 — O D. Times (£D 1 18 Regent Theatre (£1) — 0 S. and S. (pref.: £1) 0 19 — Wdsons Cement (ms) 0 19 0 Woolworths (ord.: 5s) 0 14 1 14 Woolworths (Syd.; 5s) 0 17 0 0 Woolworths Prpts. 1 (£1) 5 9 BREWERIES N.Z Breweries (£1).. 1 16 0 — Dominion (£1) 1 10 0 -T Dunedin (£1) 1 MINING Broken Hill South (5s) 1 8 0 — E Zinc lord.; £1) •• 2 13 Mount,Lyell (£1) 1 8 0 — Mount Morgan (2s 6d) 0 9 North Broken Hill (5s) 2 2 6 UNLISTED STOCKS National Tobacco 1 n 9 —* Mackintosh Caley Phoenix 0 14 9 0 16 9 Snowhite Laundries .. 0 12 0 1 O and S. Finance 0 8 (cont.) 1 — O and S. Finance 8 (paid) .. .. •• 0 7 — O. and S. Finance 18 0 (pref.) 0