COMMERCE AND FINANCE

Otago Daily Times, Issue 24910, 8 May 1942, Page 2

COMMERCE AND FINANCE

THE SHARE MARKET YESTERDAY’S SALES Dunedin.—Sales reported: Bank of New Zealand, £1 18s 9d; Bruce Woollen lord.), £1 3s; Wright, Stephenson (ord.), 20s; N.Z. Drug, £3 12s 6d. Auckland.—Sales on 'Change: Reid Rubber, £1 2s 3d. Unofficial list: Auckland Farmers’ Freezing, 2s 6d. Wellington.—Sales on 'Change; 3 p.c. Stock. 1948 (Wednesday), £99 its 6d; New Zealand Insurance (Wednesday), £3 3s 3d; Donaghy’s Rope (new, Wednesday), £2 8s 6d; Bank of New Zealand, £1 18s 9d; Selfridges (A’asia), Ltd., 17s. LOCAL QUOTATIONS Government Loans.—3i p.c. Bonds, 195357, b. £lO2 10s; 4 p.c. Bonds, 1946-49, b. £lO2 10s: 4 p.c. Stock. 1949-52. b. £106; 4 p.c. Bonds, 1952-55, b. £lO7 10s; 31 p.c. Nat. D. Ln„ 1956-59, b. £101;, 31 p.c. 5 Con. Loan, 1957-60, b. £101; War Loan, 1953, b. £9O. Banking, Insurance, and Shipping.— N.S.W. (£2O). b. £27 ss; N.Z. (£1). ,s. £1 18s 9d; Natl., N.Z. (£2 10s), s. £1 18s 3d; Union (£5), s. £7 Is 6d; National (7s), b. 18s, s. 18s 9d; Standard (£1), b. £2 19s; P. and O. Stock (£1). b. £1 11s; U.S.S. Co. (pref.. £1), b. £1 6s 3d. Meat and Agency.—N.Z. Refrig. (£1), b. 18s; N.Z. Refrig. (10s). b. Bs, s. 8s 4d; South. Froz. (ord., £1), s. £1 15s: Perpetual Trust. (18s), s. £2 11s 6d; Trustees, Exec. (£3), b, £4 4s; W.S. (ord., £1), s. £1 0s 6d. Breweries, Gas. Coal, Oil, and Wool.— N.Z. Breweries (£1). b. £1 11s, s. £1 12s; Kaitangata (16s), b. £1 9s; Westport (10s), b. £1 2s 6d; W.-Stockton. (pref., 10s), b. 7s 3d; Moturoa Oil (ss), b. 2s 9d; Moturoa (pref., ss), b. 3s 3d: Taranaki Oil (£1 4s 7d). b. 6s: Taranaki Develop., b. 2s 9d; Bruce (ord., £1), b. £1 2s 9d; Bruce (pref., £1). b. £1; Kaiapoi (ord., 17s), b. 18s 2d; Timaru (£1). s. 18s 6d. Miscellaneous.—A.C.l. (£1), b. £1 18s fid: Booth Macd. (pref., £1), s. ss; Brn..“ Ewing (ord., £1). b. 15s, s. 18s: C. Begg and Co. (£1). s. £1 2s; Colonial Sugar (£2O). s. £46: D.I.C. (ord., 10s), b. 14s 9d; D.I.C. (pref.. £1). b. £1 4s 6d. s. £1 5s 3d: Dorn. Rubber (£1), b. ss: Donaghy’s Rope (£1). b. £2 10s; G. J. Coles (£1). b. £2 Is 9d; Mac Duffs (pref.. £1). s. £1; Milburn Lime (£1). b. £1 15s 6d; McLeod Bros. (£10). s. £26 ss; Natl. Electric (£1). b. £1 2s 3d: N.Z. Drug Co. (£2), s. £3 13s 6d; Otago Dly. Times (£1). s. £2; Regent Theatre (£1), b. 15s; Southland Ice (£1). b. £1 2s. s. £1 3s 6d; Woolworths (ord., ss), b. 12s 9d; Woolworths (Syd., ss). b. 13s Bd. Mining.—Brok. Hill South (ss), b. 19s fid; E. Zinc (pref., £1), b. £2; Emperor (10s). b. 7s: Mount. Lyell (£1). b. £1 3s 3d, s. £1 4s 3d; Mount Morgan (2s fid), b, 6s 9d. AUSTRALIAN DRESSED RICE MAXIMUM PRICE FIXED (P.A.) WELLINGTON. May 7. By a price order published to-day the maximum price at which Australian bulk dressed rice may be sold retail In any place in New ■Zealand where a wholesale general merchant is situated shall not be more than 5d a pound and at other places not more than 5Jd a pound. MEAT PRODUCTION KILLINGS TO MID-APRIL The official figures of killings for the present season at the Dominion’s freezing works from October 1 till April 18. as issued by the New Zealand Meat Producers’ Board, show that lamb killings to thta date total 9,260,859 carcasses, a decrease of 20,160 carcasses compared with the killings to April 20 last season. Wether mutton killings are 696.134 carcasses, and ewe mutton killings 1,735,125 carcasses, compared with 506,619 and 1,312,322 carcasses respectively last season. Frozen beef production is now 266,985 quarters , compared with 368,941 quarters last season. Porker killings total 142,948 carcasses, an Increase of 19,479, whilst baconers total 209,783 carcasses, a decrease of 81,806. A.C.I. DIVIDENDS (P.A.) WELLINGTON, May 7. The Stock Exchange Association has received cabled advice that the directors of Australian Consolidated Industries Intend to recommend to shareholders at the annual meeting the declaration of dividends as follows: (a) 4J per cent, on, .prefer--i ence shares’ for 'six months ended March 31: (b), 9d a share on fully-paid,ordinary shares. RABBIT. SKIN SALE The statement that the prices published in the official report of the rabbit skin sale held on Wednesday did not represent the true values of the skins was made yesterday by a representative of exporting firms.’ Though the prices mentioned were those actually offered at auction, he said, 1 they were subject to a bonus of 25 per cent, to be paid to the brokers by the purchasers. This had been arranged as thebest means of collecting th’e levy requited to be paid under the recent Government regulations. The prices paid at the auction, the exporter contended, thus represented a rise in the market of approximately 5 per cent. The prices quoted in the official report were those which would actually be received by the trappers. CLINTON STdCK SALE A mixed entry of sheep was submitted to auction at the Clinton sale yesterday. Fat and forward wethers were in keen demand, and ewe lambs also commanded attention, although the quality' in this class was not up to the usual standard. Best fat and forward four and six-tooth wethers realised from 26s to 275, good average ewe lambs to 25s 3d, and fallingmouthed ewes to 15s. A few dairy cows were entered and sold under good competition. best sorts realising up to £9. BYCROFT, LTD. (Special) AUCKLAND. May 7. The accounts of Bycroft, Ltd., for the year ended March 31 show an increased net profit at £13,878, compared with £12,087 in the previous year and £11,734 in 1940. Tire gross profits at £132,856 are the largest in the history of the company, showing an increase of £56,657. A final dividend of 4 per cent., making j 8 per cent, for the year, will absorb £6OOO. and £6753 is to be carried forward.