COMMERCIAL

Southland Times, Issue 21274, 20 December 1930, Page 3

COMMERCIAL

INVERCARGILL STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At a meeting of the Invercargill Stock Exchange yesterday, the following sale was reported: 1938 War Bonds (44 per cent.) at £97 10/-. The following quotations were also made: Australian Bank of Commerce: s 19/-. Commercial Bank: b 16/-; s 16/3. National Bank of Australasia (cdyt.) : b £5; (ord.) b £lO. National Bank of New Zealand: s £o 10/-. Bank of New South Wales: s £29. Bank of New Zealand: b 49/6; s 50/6. New Zealand Breweries (shares) : s 40/6. Gr.iy Valley Collieries, Ltd.: s 20/6. Westport Coal: s 26/9. National Insurance Co.: s 14/6. New Zealand Insurance Co.: s 42/-. South British Insurance Co.: b 53/6; s 56/-. Standard Insurance Co.: s 49/6. Wright, Stephenson and Co. (ord.): s 19/-. Gear Meat Preserving Co-: s 1/5. Electrolytic Zinc (pref.) : s IS/3. Mahakipawa Mining: b 7d. Okarito Mining: s 5/-. King Solomon Mining: s Bd. Bruce Woollen Milk: b 10/-. Mosgiel Woollen Mills: b £6 10/-. British Tobacco Co. (Aust.): b 30/-; s 31/-. Donaghy’s Rope and Twine: s 35/-. McLeod Bros.’ Soap: b £l9. Milburn Lime and Cement: b 27/6. New Zealand.Farmers’ Fertilizers: s 16/9. New Zealand Paper Mills: b 17/6. Wilson’s (N.Z.) Portland Cement: s 41/-. Inscribed Stock, 1938: s £9S. Inscribed Stock, 1939: s £9B. lYar Bonds, 1938: s £9B. War Bonds, 1939: s £9B. Government Bonds, 54 per cent., 1933: b £99 10/-. Government Stock, 54 per cent., 1933: b £99 10/-. THE WEEK’S TRANSACTIONS. Business on the stock exchanges has not been brisk throughout the week, in one or two cases there has been a further fall in prices; but for the most part values have remained fairly steady. Australian bank of Commerce shares had dealings at 18/6 to 18/11; but for the greater part of the week they went unquoted. The share register of the A.B.C. Bank, Ltd., will be closed from January 17 to January 31, 1931, both days inclusive. Commercials of Australia are a shade stronger than they were a week ago with sales at 16/2; buyers yesterday offered 15/11, sellers 16/3. Nationals of New Zealands had a sale at £5 5/- and finished with a seller at the same figure. Bank of New Zealands were quoted yesterday buyers 49/6, sellers 50/6, after transactions throughout the week at 50/9 down to 50/-. Nationals of Australasias have not been dealt in during the past fortnight, buyers were offering £lO, for the ordinary issue but there were no sellers. Bank of New South Wales are a little weaker, buyers £2B 5/-, sellers £2B 10/- after a reported sale at the latter figure. The distribution of the shares and business of the Bank of New South Wales is strikingly shown in an interesting appendix to the speech of the chairman at the recent meeting of the proprietors of the bank in Sydney. The total number of shareholders in 8981, and the average number of shares per shareholder is 42. There arc 4529 shareholders who have 20 shar/s each or less. Wtih regard to the bank's customers the average credit balance of current accounts is £170; the average amount deposited per fixed depositor is £lO2O, and the average overdraft £1402. E.S. and A. Banks had a seller at £5, no buyers, this is on a par with last week’s quotation. The balance-sheet of the E.S. and A. Bank as at June 30, 1930, shows the paid up capital at £3,000,000, and the reserve account at £3,095,000. Bank of Australasias have been more in demand than they have been for a considerable time, selling at £9 5/- to £9 10/6, and finished up with a buyer offering £9 2/6. Union Banks went without business, sellers’ quotation £9 6/-. In insurances New Zealand’s were steady with business at 41/0 and 41/6, and more sellers about asking 42/-. South British found buyers at 53/6. Standards were on offer at 49/6, no buyers. Nationals, sellers 14/6. New Zealand Breweries’ buyers 39/-, sellers 41/6. In Coal Companies Westports are at last week’s figure, sellers 26/9, there are also sellers of Grey Valley Collieries at 20/6, no buyers. Dalgety’s are weaker, sellers £7 5/-, with a reported sale as low as £6 7/-. Goldsbrough Morts show little or no alteration with sales at 18/9 to 19/3. There were sellers yesterday for this company’s shares at 19/9. In Meat Companies’ shares New Zealand Refrigerating (10/- paid), have improved a little on the very low figure they sold at last week; the market yesterday was buyer 1/-, seller 1/5, after sales at lOd to 1/3. This company’s shares dropped last week from 1/9 to 5d as a result of the circulation of a rumour—which proved to be without the slightest foundation—that the company had decided to call up its unpaid share capital. In Mining Companies Mount Lyells sold at 19/3 to 19/9, and a parcel or two changed hands at 18/9 ex dividend. Dividend of 1/- per share was payable yesterday by this company. Electrolytic Zincs (preference issue) remain unchanged. Waihis-remain steady with a firming tendency, Mahakipawas were done at Bd, and King Solomons had buyers at 6d, sellers Bd. In the miscellaneous section very little business was done, British Tobaccos sold at 29/9 and 30/-, and later were on offer at 31/-. The balance-sheet of the British Tobacco (Australian) Ltd., for year ended October 31, 1930, shows a net income of £1,074,672, compared with £1,011,307 for the preceding term. An interim dividend of 24 per cent, on ordinary shares in the company has been declared and is payable on December 31, 1930. New Zealand Drugs had buyers at 52/-, sellers 53/3. New Zealand Paper Mills buvers 17/6, sellers 18/9. Wilson’s (N.Z.) Cements had sellers at 41/-, and a buyer made an appearance for McLeod Bros.’ Soaps offering £l9. In Government Stocks there was some inquiry for the 51 per cents, due 1933, business being nut through at £99 10/-. For the 44 per cents, tax free issues there was little or no inquiry, sellers £9B 10/-. The Stock Exchanges throughout New Zealand will be closed for the holidays from December 23, re-opening on January 12, 1931. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. Auckland, December 19. Sales on ’Change: War Bonds, 1938, 44 per cent. £97 15/-; Bank of New Zealand 50/-; New Zealand Insurance 40/9; Devonport Ferry 21/3; Taranaki Oil 2/3. Wellington, December 19. Sales on ’Change: Taranaki Oil 3d. Sales reported: Perpetual Trustees 68/-; New Zealand Refrigerating (cont.) 1/3. Sales reported: Bank of New Zealand £2 10/-; Christchurch Gas Company; £1 5/-; New Zealand Drug Co. £2 11/6; New Zealand Government Stock, 54 per cent., 1933, £99 7/6; Dalgety and Co. (Melbourne register) £6 10/-; Goldsbrough Mort and Co. 18/11; New Zealand Insurance Co. £2 0/9; British Tobacco Company (ord.) £1 10/(cum. div.) Christchurch, December 19. Sales on ’Change: Commercial Bank of Australia 16/3; New Zealand Refrigerating (10/- paid), 1/4, 1/3 (2); New Zealand Breweries 39/-; British Tobacco (cum. div.) 29/11; Henry Jones Co-op. 18/6; Mahakipawa Mining 7]d. Sales reported: Goldsbrough Mort 18/10; Mount Lyell Mining 17/11; New Zealand Refrigerating (10/- paid), 1/3, 1/2 (2). Gisborne, December 19. The Taraqaki Oil Fields report for De--1 cember 19 at Waitangi is as follows:—-For No. 1 well there is a good show of oil at (232 feet.

OTAGO MARKETS. MILLING WHEAT DULL. FRUIT BUSINESS BRISK. HOLIDAY RUSH SETS IN. (Per United Tress. Association.! Dunedin, December 19. So far as milling wheat is concerned there is not much to record. The holiday season is now on and little or no business is going through. The millers have ample stocks to work off and are not opcrating. There is a fair demand for fowl wheat which is quoted at from 6/3 to 6/6 per bushel (sacks extra), f.o.b. Dunedin. There should be sufficient fowl wheat in the local stores to see the poultry-keepers through till the new crop is available in Canterbury. There are no grade Gartons held in oats. Heavy A Gartons are offering at 3/5 f.0.b., si at Bluff, without attracting attention so far, however. A little forward business has been recorded. The demand for chaff is limited. There is, however, no lack of supplies. The current quotation is £5 5/to £5 10/- for best quality sacks. Extra ex truck medium and poor quality chaff is hard to place. The value of old potatoes is round about £3 10/- ner ton. The season is now about finished. Business in seeds is at a standstill for the present. Merchants look forward to a certain amount of business with the North Island, but the extent of this will largely depend on the weather conditions which prevail in the North Island. Fruit Report. The holiday rush has set in in the fruit marts and business has been very brisk during the week. New Zealand apples are still coming forward from the cool stores but the demand is poor. lair supplies of Canadians are on offer. Bananas are more plentiful than has been the case at this time of the year for a long time past. The Waiinarino also brought a shipment of Californian navels and lemons. The orange market is well supplied with a small line of New South Wales-grown apricots which arrived by the Waikouaiti. These opened up in splendid order. Supplies of californian grapes are sold out of the wholesale hands. The season for this fruit has now ended. Cherries have been realizing low prices. The prices have proved very disappointing to growers. Supplies of strawberries have eased off owing to the cold weather being experienced. Tomatoes dropped to low prices early in the week, but these advanced later on. Christchurch growers have been complaining that they can obtain better prices in their local markets than in Dunedin. A few lines of black currants have reached the market from Central Otago. CANTERBURY MARKETS. FAVOURABLE GROWING WEATHER. GOOD POTATO CROPS. (Per United Press Association.) Christchurch, December 19. A considerable amount of interest is being taken in the forecastings of crops for the new season. Field prospects have been increased during the past fortnight by the favourable growing weather. In potatoes neither growers nor merchants are inclined to enter into forward contracts. Tubers for April, May and June delivery are quoted at £4 2/6 f.0.b., s.i., with no imported sales reported. Reports are to the effect that the crop is coming away extremely well and the indications are that, with favourable conditions from now on, the yield will be good. There is some speculation as to the area sown in onions. There seems to be some grounds for the assumption of a lower acreage. £4 a ton on trucks has been paid and is still on offer to growers, but there does not seem to be much inclination to sell at this figure. The new season’s oats are quoted at 2/111 f.0.b., s.i. for A Gartons for April and September delivery and B’s at 2/10 on the same basis. The crop has also benefited by the recent favourable growing weather and prospects appear to be fairly good. Although there is an indication that the wheat crop will be later than was the case last year, the crop is reported to be looking well at present and the yield may be better than was at first anticipated. Bran and Pollard prices have been reduced still further and have now reached a lower level than has been the case since just before the War. Quotations to-day arc £5 10/- a ton (local), and £4 10/(shipping), for bran and £5 15/- a ton (local) and £4 5/- a ton (shipping), for pollard f.o.b. The reason for the decline has been the necessity for falling in line with Australian values. RIVERSDALE STOCK SALE. The last stock sale to be held at Riversdale prior to the Christmas vacation took place yesterday afternoon in the presence of a small attendance. In consequence there was practically no inquiry for the stock on offer, and the yarding, which comprised yearling steers and heifers, fat steers and a pen of fat wethers, failed to reach vendors’ reserves. Messrs J. E. Watson and Co., Ltd., offered and passed in cattle as follows: 8 yearling steers and heifers 20/-, 12 do. (no bid), heifer calf 10/-, 4 fat steers £9. A line of 62 fat wethers vended through N.Z. Loan and Mercantile Agency Co., Ltd., was held for private treaty at 23/6. The only sale effected was through Messrs Henderson, Reid (Ltd.), who disposed of a small number of geese. At the conclusion of the sale Mr A. Kerse, on behalf of the Gore Stock Agents’ Association, extended seasonal greetings to vendors and buyers, and expressed the wish that 1931 would dispel the atmosphere of depression at present prevalent.' EASTERN DICTRICT FAT STOCK. PRICES AT BURNSIDE MARKET. Eastern District vendors of fat stock at the Burnside market on Wednesday realized the following prices:— Cattle: J. A. Craig (Maitland), bullocks £l5 15/-, £l3 7/6, and £l2. D. C. Livingstone (Titiroa), bullocks £l4 5/-, £l2 7/6, £l2, £ll 7/6, and £lO 7/6. A. S. Holms (Waimahaka), bullocks £l3 10/-, £l2 12/6, heifer £ll, cows £lO and £9 15/-. A. McKinnon (Gore), bullocks £l7 5/-, £l6 10/-, £l6 5/-, £l5 17/6, £l5 15/-, £l5 2/6, £l4 2/6 and £ll 10/-. M. Beattie and Sons (Titiroa), bullocks £l3 15/-, £l2 15/-, cow £8 12/6, heifer £7 17/6, IL G. McKenzie (Waimahaka), bullocks £ll 7/6, £lO 2/6 and £9. C. Carnie (Mataura Island), bullocks £l7, £l3,.cows £8 17/6, £7 and £5 7/6.

Sheep: A. Greenlees (Wyndham), wethers 23/6, ewes 16/- and 13/6. D. D. Potts (Tapanui), ewes 21/-, 18/-, 19/- and 10/3. A. S. Holms (Waimahaka), ewes 16/8, 14/9, 13/3 and 14/6; wethers 20/- and 12/-. A. B. Dickinson (Poinahaka), ewes 16/9 and 11/9. E. W. Sutton (Moa Flat), wethers 18/6 and 17/6. J. 0. Brock (Maitland), ewes 14/3. D. McDonald (Balfour), wethers 26/-, 24/-, 23/9, 22/3 and 21/9. W. B. Whyte (Otama), wethers 26/3, 20/3, 22/9 and 21/3; ewes 16/9 and 15/6. W. Phillips (Otama), wethers 22/9, .21/3; maiden ewes 16/9. George Reid (Maitland), wethers 25/-, 22/- 20/9. W. Dickson (Otamita), ewes 13/3. Estate Mrs Scarlet (Otamita), ewes 12/3. D. Harland (Otikerama), ewes 9/-. C. Smaill (Moa Flat), wethers 23/9, 22/9, 21/-, 120/9 and 20/6. J. Dickson (Otamita), I shorn ewes 15/-, 14/3, 13/6 and 12/6. D. Leslie (Tapanui), ewes 14/6. D. I. McKenzie (Tapanui), ewes 18/3, 10/-. C. S. Campbell (Hcriot), ewes 15/3’ and 11/-.