COMMERCIAL

Southland Times, Issue 21729, 15 June 1932, Page 2

COMMERCIAL

CHY STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday morning’s call-over on the City Stock Exchange the following prices were quoted:— Banks. Australasia: b £9. Commercial: s 14/-. National of New Zealand: s 62/-. New Zealand: s 42/6. Union of Australia: b £6 15/-. Breweries. Dunedin Brewery Company: b 18/-. New Zealand Breweries (shares): b 24/-; s 24/10. Coal. Westport: b 8/3; s 10/-. Insurance. National: b 11/-, s 11/4. New Zealand: b 35/-. South British: b 50/-. Standard: b 38/-. Loan and Agency. National Mortgage (B issue): 17/6, s 22/-. Wright, Stephenson and Company (ord.): b 10/6, (pref.): s 14/9. Meat Companies. New Zealand Refrigerating (20/paid): b 11/3; (10/- paid): b 3/10, s 4/2. Southland Frozen Meat (£1 ord.): b 35/6; (10/- ord.): b 17/9; (£1 pref.): b 35/6. South Otago Freezing Company: b 40/-. Mining. Electrolytic Zinc (pref.): b 18/6. Kildare: s 1/8. King Solomon: b 1/2, s 1/5. Mount Lyell: b 16/3, s 17/-. Mahakipawa: b 4d. Okarito: b 9/3, s 9/6. Gillespie’s Beach, par id prem. Golden Terrace: s 4/-. Shipping. Union Steam Ship Company (pref.); b 19/-. Miscellaneous. Australian Glass: b 34/6. British Tobacco (Aust.): b 27/9. D.I.C. (ord.): s 12/3. Dunlop Rubber (Aust.): b 10/-. McLeod Bros.’ Soap: b £22 5/-. Milbum Lime and Cement: s 24/6. New Zealand Drug: b 46/-.. New Zealand Guarantee Corporation: b 4/-. New Zealand Paper Mills,: b 18/9, s 19/3. Debentures. Government Inscribed Stock, 4| per cent., 1938: b £92, s £92 15/-. Government War Bonds, 41 per cent., 1938: b £92 5/-. Government Inscribed Stock, 44 per cent., 1939: b £92, s £92 15/-. Government War Bonds, 4J per cent., 1939: b £92 5/-. Government Bonds, 51 per cent., 1937: b £99. Government Stock, per cent., 1937: b £99. NORTHERN EXCHANGES. Auckland, June 14. Sales on ’Change: Stock (1933) 5| per cent. £9B 10/- (2); Auckland Harbour Board (1939) 5| per cent. £96 5/-; ditto (1940) 51 per cent. 70 10/-; Gisborne Sheep Farmers (1941) 6£ per cent. (2); Commercial Bank 13/6; National Bank of New Zealand £3 (2); Bank of New Zealand 42/3; Union Bank £5 16/6; Woolworth’s (pref.) 24/3; Alexander Mines 18/-; Golden Dawn 6/-; Okarito 9/4; Waihi 14/4. Wellington, June 14. Sales reported: N.Z. Government 5 J per cent. Bonds (September, 1937) £99 15/- (late Monday); Commercial Bank of Australia (ord.) 13/9 (late Monday), 13/7; National Bank of Australasia (£5) £5 (late Monday); Bank of New Zealand (cum. div.) £2 2/3 (2 sales late Monday), £2 2/-; Union Bank of Australia £6 18/-; Goldsbrough Mort and Co. £1 1/7; British Tobacco Co. (ord.) (cum. div.) £1 8/6 (late Monday); Kawarau Gold 4d (2 sales). Christchurch, June 14. Sales on ’Change: Christchurch City 5£ per cent. (1953) £9B; Commercial Bank of Australia 13/6 (3), 13/5 (2), 13/4 (3); Bank of New South Wales £25 10/-; Bank of New Zealand (cum. div.) 42/- (2), 41/11; Union Bank of Australia £6 16/6 (3); New Zealand Breweries (cum. div.) 24/8; Auckland Gas 20/8; Tooth’s Brewery 25/10; Mt. Lyell 16/4; Alexander (cont. cum. div.) 18/1, 17/11; Golden Dawn 6/- (2), 5/11J; Mahakipawa (pref.) 6d; Okarito 9/3J. Sales reported: Commercial Bank of Australia 13/6; Union Bank of Australia £6 16/6; Goldsbrough, Mort 21/3; New Zealand Refrigerating (10/paid) 4/-; New Zealand Breweries (cum. div.) 24/8; Mt. Lyell 16/6. Dunedin, June 14. Sales on ’Change: Kawarau 3d (two), Sale reported: New Zealand Refrigerating (paid) 11/3; New Zealand Paper Mills (after last call) 18/6 (odd parcel).

LORNEVILLE STOCK SALE. . | ! POOR DEMAND PREVAILS. FAT STOCK PRICES DROP. One of the worst fat sheep sales experienced for some considerable time was held at Lorneville yesterday. The entry in this section was fairly large with a large, percentage of poor quality ewes for which there was a poor demand. Butchers’ requirements appeared to be limited and freezing buyers operated to a small extent only on a new reduced schedule. In the fat cattle section, a reduced entry failed to cause any extra demand ana sales were difficult to effect at reduced prices. The store sections attracted very small entries and the sales in both cases were very poor.. The entries in the individual sections for the last two sales were as follows:—

Included in yesterday’s yardings were 100 fat lambs, two vealers and 43 dairy cows. STORE CATTLE: This was a very small entry and the sale was a. dull one. A pen of steers was passed in at 22/6, and sold at 25/-, and an empty cow at 12/-. There was a big yarding of dairy cows, but the market was dull. A pen of heifers passed in at 5/5, and factory cal vers sold anywhere from 30/- to £4 10/-. FAT CATTLE.—The majority of the yarding was of only medium quality. The demand was very limited and sales were difficult to effect at reduced prices. Heavy bullocks sold up to £6, medium qaulity bullocks £4 to £5, light and unfinished down to £3; prime heavy cows up to £5, good quality sorts from £3 to £3 15/-, inferior down to £1 10/; good quality heifers up to £4 10/-, lighter £2 10/to £3 10/-. STORE SHEEP. —There were no transactions to record in this section which was neglected in every way. FAT SHEEP AND LAMBS: There was a large yarding of medium quality sheep. The bulk of the offering consisted of ewes, the majority of which were of poor quality, while there were very few pens of really good wethers. Butchers’ requirements were limited while freezing buyers operated only to a limited extent on a new and reduced schedule with the result that the sale was one of the worst experienced for a long time. Best butchers’ wethers sold up to 14/-, good medium wethers 11/- to 12/6, lighter down to 9/-, best butchers’ ewes up to 8/6, good quality ewes 6/- to 7/-, freezing ewes down to 3/6. There was only a small yarding of fat lambs of average quality. Freezing buyers were the only operators and prices were full on the reduced schedule. Extra heavy lambs realized up to 16/6, good quality lambs 12/6 to 13/6, lighter sorts down to 10/-. McNAB STOCK SALE. A SMALL ENTRY. There was a very small entry at the fortnightly stock sale at McNab yesterday, the offering of sheep consisting of a single pen of fat cattle and two pens of stores. The cattle section included a number of dairy cows and heifers (factory calvers), but for these there was a limited demand at prices much below those ruling last year. Sales were made at prices ranging from £1 10/- to £5 10/-. A number of yearling steers and heifers were also forward, but were passed in. Sales were:— National Mortgage and Agency Co., Ltd.: 34 forward wethers at 8/6; 12 fat wethers at 10/-. Southland Farmers’ Co-operative Association, Ltd.: Dairy cows and heifers at £3 15/-; £5; £5 5/-; £5; £5 10/-; £2; £3 2/6; £2 15/- and £1 10/-. Wright, Stephenson and Co., Ltd.: 22 m.s. lambs at 4/10. Passed in, 8 2-year-old store steers at £3 10/-; 6, 18-months’ steers at £1 10/-. The New Zealand Loan and Mercantile Agency Co., Ltd., offered and passed in 28 yearling steers and heifers at 12/-. LONDON MARKETS. London, June 13. Bradford.—Merino fine crossbred tops are firm, while medium coarse crossbreds are barely steady. Gold is quoted at £5 12/8. Peninsula Shares. —12/-. Lead.—lmports 22,457 tons. Australian 14,119. Exports 1,010. The following dealings in Australian stocks are reported:—New South Wales, four per cent, average, £92; three pel cent., £80; 3£ per cent., £62 7/6; 51 per cent, £9B 15/-; 6J per cent, £96 10/-; six per cent., £92 10/-. Wheat.—Cargoes are steady and unchanged. Parcels are fully steady. Futures: London, June 22/8, September 22/7, December 22/9; Liverpool, July 4/91, October 4/11J, December 5/01 per cental. NEW ZEALAND APPLES. London, June 13. The Middlesex’s New Zealand apples realized: Jonathans 7/- to 10/-, large 5/- to 6/-; Delicious 9/- to 10/-, large 7/- to 8/-; Dunn’s 8/- to 10/-; London’s 9/- to 10/-; Sturmers 9/- to 10/6. SYDNEY STOCK EXCHANGE. BUSINESS BACK TO NORMAL. (Rec. 8.45 p.m.) Sydney, June 14. Business returned to normal on the Stock Exchange to-day with a slightly weaker tendency. The reaction in the case of bank shares was rather marked. Sales recorded:—

SYDNEY WOOL SALES. COMPETITION WELL SUSTAINED. (Rec. 8.45 pjn.) Sydney, June 14. At the closing wool sales of the season to-day competition was well sustained. Japanese and Yorkshire sections predominated and there was also good support from the Continent. Values were on a par with recent levels.

Greasy Merino sold to 12d. To-day 4671 bales were offered and 3314 sold, while 1935 were disposed of privately. THE METAL MARKET. (Rec. 8.35 p.m.) London, June 13. Metal quotations compared with those for May 30 are:—

BROKEN HILL LIMITED. Wellington, June 14. Cable advice received from Broken Hill South Limited by the New Zealand Stock Exchange Association stated that a dividend of 1/- per share had been declared, payable in Melbourne on August 12. The books will close on June 24. The dividend will be paid out of profits derived from sources other than mining at Broken Hill. At the present metal prices operations at the mine are being conducted at a loss. FOREIGN EXCHANGES. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, June 13. 1 Following are the rates of foreign extirlfh nfiT’

June 14. June 7. Store cattle 54 114 Fat cattle 91 146 Store sheep 105 10'8 Fat sheep and lambs 1286 741

OcUUb 1CUU1UCU. £ s d Commercial Bank of Sydney 16 0 0 Commercial Bank of Australia 14 11 ' Bank of New South Wales 28 7 6 National Bank (£5 paid) 5 10 0 Burns Pliilp 2 3 6 Tooth’s Brewery 1 8 6 Toohey’s Brewery 18 6 Australian Glass 1 19 1J British Tobacco 1 17 0£ Dalgety’s 7 10 0 Goldsbrough Mort 1 3 6 Millaquin Sugar 1 5 6 Henry Jones _ 1 10 0 Dunlop Perdriau 12 2 Electrolytic Zinc (pref.) 1 1 6 Broken Hill Proprietary 16 0 South Broken Hill 2 0 0 Commonwealth Bonds (4 per cents) — 1938 95 5 0 1941 92-10 0 1944 91 0 0 1947 91 2 6 1950 90 17 6 1955 91 10 0 Melbourne Sales. Commercial Bank of Australia (pref.) 7 2 0 Goldsbrough Mort 1 4 0 Australian Glass 1 19 0 Electrolytic Zinc 11 9

AMA vv May ' £ s !0. d June 13. £ s d Copper standardSpot 27 10 74 27 4' 44 Forward 26 9 44 27 0 7J Copper, electrolytic— Snot 31 10 0 31 0 0 Forward 32 0 0 31 10 0 American 5.372 cents Wire bars 31 0 0 31 10 0 Lead — 9 10 0 Spot 9 15 0 Forward 10 5 0 9 18 9 Spelter— Spot 11 16 3 11 11 3 Forward 12 0 0 11 18 9 TinSpot 117 7 6 115 2 6 Forward 119 12 6 117 12 6 Silver (pence)— Standard 16 13-16 16J Fine 184 18 3-16 Standard 16 13-16 164

changes compared with par: — Par To-day. Paris, fr to £1 124.21 93 5 -|® New York, dol to £1 4.86 2-3 Montreal, dol to £1 4.06 2-3 4.26 Brussels, belgas to £1 35 28 3-8 Geneva, kr to £1 25.22% 18 3-16 Amsterdam, guilder to £1 12.107 9.07% Milan, lire to £1 92.45 71 11-16 Berlin, marks to £1 24.43 15 9-16 Stockholm, kr to £1 18.150 19.50 Copenhagen, kr to £1 Oslo, kr to £1 15.150 18.150 18 5-16 20 1-S Vienna, schillings to £1 24.25% 36% Prague, kr to £1 Helsingfors, marks to £1 24.02 124 193.344 215 Madrid, pesetas to £1 25.55% 44 5-8 Lisbon, escudas to £1 5.50% 110 Athens, drachma to £1 25.22% 570 Bucharest, lei to £1 Rio de Janeiro, pence t< milrels Buenos Aires, pence to 937 > 18 47.82 317% 5 . 34% pesos Montevideo, pence to peso Bombay, pence to rupee 18 31 17 15-16 Shanghai, pence to tael 23% Hong Kong, pence to dol. 25.15 19 29-32 15 11-32 Yokohama, pence to yen 34.58 20 5-8