COMMERCE AND FINANCE

Otago Daily Times, Issue 24935, 6 June 1942, Page 8

COMMERCE AND FINANCE

THE SHARE MARKET YESTERDAY'S SALES Dunedin.—Reported sales: Woolworths (N.Z.). 12s lid; Milburn Lime, 365. Auckland.—Sales on 'Change: Auckland Hospital Board, 1952, 4i per cent.. £lGa 15s; Bank of N.Z., £1 18s 4d; Queensland Insurance, £2 7s; Auckland Gas (cont.). 2s 6d; Kaiapoi Woollen, 19s; Reid Rubber £1 Is 6d: Woolworths (Syd.), 14s (2) Unofficial list: Associated Dredges, 9s 6d. Wellington.—Sales on 'Change: Union Bank (late Thursday), £6 16s: Auckland Gas (late Thursday), 6s 9d; Queensland Insurance (late Thursday), £2 7s; Bank of N.S.W. (Sydney reg.), £27 15s; Bank of N.Z. (3). £1 18s 3d; Bank of Australasia, £8 6s; Consolidated Brick, 7s 4d; 4 per cent. Stock, 1954-58, £lO6 7s 6d. Christchurch. —Sale on 'Change: Kaiapoi Wool (17s paid), 19s. Sale reported: New Zealand Breweries (cum div.). £1 10s 6d. LOCAL QUOTATIONS Government Loans.—3£ per cent. Bonds, 1953-57, b. £lO2 10s; 3J per cent. Stock, 1953-57, s. £lO3 ss; 4 per cent. Stock, 1943-46, s. £101; 4 per cent. Stock, 1946-49, b. £lO2 10s; s. £103; 4 per cent. Bonds, 1952-55, b. £107; 4 per cent. Stock, 1952-55, b. £lO7, s. £108; 4 per cent, StocK, 1954-58, b. £lO6 ss, s. £lO6 15s; 31 per cent Conversion Loan, 1957-60, s. £lOl 17s 6d; War Loan, 1953, b. £9O 10s, s. £9l.

Banking, Insurance, and Shipping.—New South Wales (£2O), b. £27; New Zealand (£1). b. £1 17s 6d; National of New Zealand (£2 10s), b. £1 17s 9d; National (7s), b. 18s 6d, s. 18s lOd; New Zealand (£1), s. £3 4s; South British (10s), s. £2 15s; Standard (£1), b. £2 19s 6d; P. and O. Stock (£1), b. £1 lis. Meat and Agency.—N.Z. Refrigerating (£1), b. 19s 3d: N.Z. Refrigerating (10s). b. 8s 9d, s. 9s; Waitaki Farmers (£5.), b £4'l7s 6d; Perpetual Trustees ("'*). s. £2 10s 6d; Trustees Executors (£3). b. £4 4s; Wright. Stephenson *ovd., ~»i, u. 19s; Wright, Stephenson (pref.. £1). b. £l. Breweries, Gas, Coal, Oil, and Wool.— N.Z. Breweries (£1), b. £1 9s 6d; Kaitangata (16s). b. £1 9s 6d; Westport (10s), b. £1 3s 6d; Westport-Stockton (ord., 10s), s. 3s Id; Westport-Stockton (pref., 10s). b. 7s 3d; Moturoa (pref., ss;, b. 3s 6d, s. ss; Taranaki Oil (£1 4s 7d). s. 6s 6d: Taranaki Development, b. 3s, s. 4s; Bruce (ord., £1), b. £1 3s 3d; Bruce (pref., £1), b. £1; Kaiapoi (ord., 17s). b. 18s 9d; Mosgiel (£4), b. £lO 12s 6d; Oamaru (£1), b. £1 2s 6d, Miscellaneous.—Booth Macdonald (pref., £1), b. 4s 6d. s. 5s 3d; Broken Hill Pty. (£1), b. £1 13s 9d; Colonial Sugar (£2O), b. £44; D.I.C. (ord., 10s). b. 14s 9d; D.I.C. (pref., £l\ b. £1 4s 3d; Dominion Fertiliser (£1), b.»l9s 6d, s.. £1 0s 6d; Dominion Rubber (£1), b. ss: Donaehy's Rooe (£1), b. £2 8s 6d; G. J. Coles (£1). b. £2(s6s; Mac Duffs (ord., £lh s. 7s 7d: Mac Duffs (oref.. £1). s. £1; Milburn Lime (£1), b. £1 15s 9d: National F.lectric (£1). b. £1 2s 3d; N.Z. Drug Co (£2), b. £3 12s 6d; N.Z. Paper Mills (£1), s. £1 12s 6d: Otago Daily Times (£1), s. £1 19s 3d: Woolworths (ord., ss), s 13s; Woolworths (Sydney, ss), b. Mining.—Broken Hill South (ss). b. 19-' 9d; Bulolo Dredging (5 dollars), b. P.l ss: Mount Lyell (PA), s. £1 4s 3d: Mount Morgan (2s 6d), b. 7s; North Broker. Hill <ss)..b. £1 13s 6d; Blackwater (£1). b. .13s 6d;- Ch't.h» River (2s), b. 6d; Consolidated Goldfields (4s), s. 7s 6tt; Gillespie's Beach (Is), b 3d. s. 6d.: Waitahu (ss). b. 4d. grain"^nd~produce MARKETS UNCHANGED , Not many offerings of milling wheat are now coming forward, as the bulk of the crop has been marketed. Some odd lines are held in stack in the country, and these will be threshed lated on. Oats Position Weak Apart from the sale of odd parcels of oats to millers, the market remains lifeless. Medium and under grade lines arc difficult to place, and there is no demand for thes?. either locally or for shipment to the North Island. The hominal price for A Gartons is unchanged at 4s 3d per bushel, f.0.b., s.i., with B's at 4s, f.0.b., s.i., but as indicated little business is going through. Fixed Price for Potatoes The position of the potato market is unaltered, with the Government fixed price at £7 15s per ton to growers, on trucks country sidings, sacks included, for all varieties with the exception of Suttons. The price for this variety is £8 5s per ton to the grower in the country, sacks included. The prices of seed potatoes are on a higher scale than those named above. It is interesting to note that the Minister of Agriculture states that at the present time the South Island holds 40,000 tons for consumption, 25.000 of which will goto the North Island. Reports from Canterbury state that excellent yields are being obtained, though perhaps the acreage is not up to'the average of previous years. Nevertheless, the acreage is not appreciably less. The yields in Otago and Southland are not high owing to the prevalence of blight during the growing period. Seeds Market Firm All the seed markets remain firm, but the values of several lines, which have been increasing for the past Jew weeks, now appear to have reached their maximum. The price of dogstail, however, has hardened, but there does not appear any justification for the increase, as there has been no overseas inquiry. The cocksfoot market remains firm, and the same position applies to white clover; Montgomery red clover, brown top, and chewings fescue. Various Commodities Wholesale prices are as follows: Chaff: Good bright oaten sheaf, £5 15s per ton, sacks extra, ex truck, to £6 10s, ex store. Fowl wheat, 6s 3d to 6s 9d per bushel, according to quality and quantity. Dairy butter: Milled bulk, lOd to lid per lb; separator, lOd to lid per lb. Bacon, Is 3d per lb. Hams, Is 2d per lb; boneless, Is 4d. Onions: Canterbury. Us to 12s 6d per cental bag. Shortage of Eggs The wholesale prices for eggs are as follows: Heavy, 2s lid per dozen; standard, 2s 9d; medii/m. 2s 6d; pullets', 2s 2d. The retail prices are respectively: 3s 2Jd, 3s OJd, 2s 9£d, 2s sd, Flour, Bran, etc. Flour: 200's, £l3 15s 6d; 100's, £l4 12s 6d; 50's, £l4 17s 6d; 25's, £ls 7s 6d. Bran, £5 5s per ton of 20001 b. Pollard, £6 15s per ton of 20001 b. Oatmeal: 2001 b sacks, £25 10s 6d per ton; 251 b loose, £27 0s 6d; 251 b packed in sacks of eight, £27 10s 6d. RESERVE~BANK STERLING FUNDS AT HIGHER LEVEL (P.A.) WELLINGTON, June a. The following is a statement of the assets and liabilities of the Reserve Barjc of New Zealand as at the close of business on June 1 (the figures for the previous week in parentheses): — Liabilities. General reserve fund. £1,500.000 (£1,500,000); bank notes, £24,970,798 (£24,652,196); demand liabilities—(a) State £12,218,460 (£11,625,569), (b) banks £19,225,802 (£21,070,685), (c) other £3,963.086 (£4,199,241); liabilities in currencies other than New Zealand currency £26,003 (£22,736); other liabilities, £2.917.092 (£1.461,702);—t0ta1, £64,827.244 (£64,533,121). Assets.—Reserve—(a) Gold £2,801,877 (£2,801.877), (b) sterling exchange £23,199,574 (£22.774,577); subsidiary coin, £46,2C7 (£45,044); advances—(a) to the State or State undertakings—(l) Marketing Department £11,389,828 (£11.452.801). (2) for other purposes £22,300,000 (£22,300,000); investments, £4,147,279 (£4,146.127); other assets, £1,022,476 <£ 1,012.693); total. £64,827.244 (£64,533,121). Proportion of reserves to notes and oth'r demand liabilities. 42.884 per cent. (41.517 per cont). Sterling exchange is expressed in New Zealand currency.