COMMERCIAL

Southland Times, Issue 21834, 11 October 1932, Page 2

COMMERCIAL

STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday’s call-over on the Invercargill Stock Exchange the following prices were quoted:— Banks. Australasia: b £9 16/-. Commercial: b 14/6, s 14/10. Commercial (pref.) 4 per cent, (cum.): s £7 9/-. National of Australasia (cont.): b £5 12/-. New South Wales: b £2B. New Zealand: s 46/3. New Zealand Long “D” issue: b 28/6. Union of Australia: b £7 16/6. Breweries. Dunedin Brewery Co.: b 21/3, s 23/6. New Zealand Breweries—(Shares): b 28/6. (Stock): b 20/-. Staples’ Brewery: s 27/6. Coal. Westport Coal: b 12/4, s 12/9. Insurance. National: s 15/1. New Zealand: b 42/-, s 43/-. Standard: b 48/-, s 50/-. Loan and Agency. Perpetual Trustees (Dunedin): s 58/-. Wright, Stephenson and Co.— (ord.): b 11/-. (pref.): b 13/-. Meat Companies. Gear Meat Co.: s 35/6. N.Z. Refrigerating—(lo/- paid): b 3/8, s 3/10. Southland Frozen Meat—(£l ord.): b 38/6. (10/- ord.): b 19/3. (£1 pref.): b 38/6. Mining. Electrolytic Zinc—(ord.): b 16/6. (pref.): b 26/-. Gillespie’s Beach: b 2d prem. Waitahu: b 5d dis. Kildare: b 1/6, s 1/9. King Solomon: b 1/10J, s 2/1. Mount Lyell: b 21/3, s 21/6. Mahakipawa: b 4d, s sd. Okarito: b 8/6, s 8/8. Paddy’s Point: s 5/1. Waihi Gold Mining: b 17/-. Mount David: s 4/-. Shipping. Huddart-Parker: b 28/-. Woollen Mills. Kaiapoi (ord.): b 5/3. Miscellaneous. Australian Glass: b 38/-. British Tobacco (Aust.): b 31/3. D.I.C. (ord.): s 12/-. Dominion Investments: b 23/-. Dominion Rubber Co.: b 6/-, s 9/-. Donaghy’s Rope and Twine: b 30/-. Dunlop Rubber (Aust.): s 15/-. Milburn Lime and Cement: b 26/6, s 27/6. New Zealand Drug: b 58/6. N.Z. Express Coy.: s 10/6. N.Z. Paper Mills: b 21/-. Debentures. Government Inscribed Stock, 41 per cent., 1938: b £95; s £95 10/-. Government 41 per cent. Bonds, 1938: b £95. Government 4J per cent., Inscribed, 1939: b £95. Government 41 per cent. Bonds, 1939: b £95. Government Bonds, 51 per cent, 1936: b £99 5/-. Government 51 per cent. Inscribed (Feb.), 1937: b £99 5/-. Government 51 per cent. Bonds (Feb.), 1937: b £99 10/-. Government 51 per cent. Inscribed (Sept.), 1937: b £99 5/-. Government 51 per cent. Bonds (Sept.), 1937: b £99 10/-. Sale Reported. A sale of Electrolytic Zinc (ord.) at 16/9 was reported. * NORTHERN EXCHANGES. (Per United Press Association.) Auckland, October 10. Sales on ’Change: Loan and Mercantile £57 10/-; Northern Steam (con.) 2/4; British Tobacco 31/6; Waihi 17/3 (2). Wellington, October 10. Sales on ’Change: Bank of New Zealand £2 5/11, late Saturday £2 6/-; Big River (10d paid) £lld. Christchurch, October 10. Sales on ’Change: Commercial Bank of Australia 14/8; Goldsbrough Mort. 24/5 (2); Westport Coal 12/6; Golden Point 7d. (2); Mahakipawa 4jd (3). Sales reported: 5i per cent. Inscribed (September 1937) £99/12/6; Bank of New Zealand (late sale Bth) 46/(2); Bank of New Zealand 45/11; South British Insurance 57/-. Dunedin, October 10. Sales Reported: Bank of New Zealand £2 6/-; Okarito (late Saturday) 8/8; 4fc per cent Stock (1938) £95; Waihi Grand Junction 3/5. HUNTER & REID. DALGETY’S BUILDINGS, DON ST., INVERCARGILL. PUBLIC ACCOUNTANTS, AUDITORS, SECRETARIES, AND SHAREBROKERS. J. B. REID, F.P.A., N.Z. Member Invercargill Stock Exchange. Telegraphic Address: “Foxhound.” Telephone: 212. Ax 1043 SYDNEY STOCK EXCHANGE GOOD INQUIRY FOR CONSOLS. (Rec. 10.5 p.m.) Sydney, October 10. Australian Consols again met with a good inquiry to-day, and prices advanced. Industrial stocks were active with prices firm and others were steady. Sales:— Commonwealth Bonds, 4 p.c.—

DAIRY PRODUCE. The New Zealand Dairy Produce Board has received the following market report from its London office dated October 7, 1932:— Butter: New Zealand salted 106/115/to 116/-; unsalted 112/- to 116/-; 106115/- equals approx. HJd f.o.b. Deliveries New Zealand, 1146 tons; in store New Zealand, 4100 tons, excludes 425 tons Port Alma. Australian salted, 102/- to 105/-; unsalted 104/- to 107/-. Deliveries Australian, 1125 tons; in store Australian, 985 tons; Argentine unsalted 88/- to 94/-; South Africa

94/- to 100/-; Danish 103/- f.0.b., 118/to 120/- spot; Dutch unsalted, 120/- to 122/-; Esthonian 94/-, ex 96/-; Siberian 88/- to 90/-; Polish 86/- to 90/-; Lithuanian 92/- to 94/-, ex 96/-. Market slow. New Zealand retail price 1/2. Danish 1/3. Empire Marketing Board’s estimated stocks all butters at October 1, 1932, 726,982 boxes (last year 787,220 boxes). Cheese: New Zealand white 65/6 to 66/- (6.34 d f.0.b.); coloured 59/- to 61/- (5.79 d f.0.b.). Deliveries New Zeaand, 17,287 crates; in store New Zealand, 49,000 crates; excludes 2700 crates Ruahine; South Africa white, 62/-; coloured 55/- to 59/-; Canadian white, 67/- to 69/-; coloured 67/- to 68/-; c.i.f., 67/- to 69/6; deliveries Canadian, 20,271 boxes; instore Canadian, 168,379 boxes; English Finest Farmers 96/- to 100/-. Market quiet but firm. N.Z, retail price increased to 9d. The board has also received the following advice from its agents in Canada:—Butter: New York 21} cents, Montreal 21} cents.

Messrs A. H. Turnbull and Co., report having received the following advice from Messrs W. Weddel and Co. Ltd.:—

The following are the London mean quotations for the month:—N.Z. salted 111/-; Kangaroos 104/-; Danish 119/-, Market quiet. N.Z. Cheese, white 65/6; coloured 59/-. Market quiet. Butter.—During the month the market has remained comparatively steady with no very great fluctuations for finest New Zealand but towards the end of September the price obtainable for first grade declined somewhat and at the present time, there is a considerable premium for finest, owing to the shortage of finest butters. The arrivals during October will be light and we expect the market to remain steady during the month, but with the heavy arrivals in November, it will be doubtful whether the present levels will be maintained. During the month both France and Germany increased their quotas of foreign butters and this has helped to keep the market steady. Forward business Forward buyers are showing very little interest at the present time, chiefly for the reason that “Kangaroos” are being offered for October shipment at 94/- per cwt. Cife. Cheese.—The cheese market has remained fairly firm, and the big premium for white cheese is still being maintained. Although there were a few buyers for early season’s make at as high as 6gd early in the month, buyers seem ,to have withdrawn, and generally speaking, there is not very much confidence in the future position of cheese. The spot stocks are still light, but buyers seem to be nervous as to how the market will move when the heavy arrivals of new season’s Southern Hemisphere cheese begin to reach the market. MEAT QUOTATIONS. The New Zealand Meat Producers Board has received the following cable from its London Office, dated October 7, advising that the following are the approximate average prices realized for the week, based on actual transactions of wholesale quantities of the descriptions of meat mentioned and are for representative parcels of the goods offering during the week, being for business done on the basis of delivered to Smithfield Market and/or ex London stores:— New Zealand Sheep.—Canterbury and North Island Selected crossbred wethers and maiden ewes 48/56, 3>d; ditto 57/64, 3}d; ditto 65/72, 3d; North Island crossbred wethers and maiden ewes 48/56, 3}d; ditto 57/64, 3}d; ditto 65/72, 3d; ewes 48/under, 23-8 d; ditto 48/64 ,2 l-8d; ditto 65 /72, 2d. New Zealand Lambs.—Canterbury, 36/under, 5 l-8d; ditto 37/42, 4 7-8 d; ditto 43/50, 4}d; Canterbury 2nd quality, average 33 4}d; other South Island brands, 36/under, sd; ditto 37/42, 4Jd; ditto 43/50, 4 l-8d; including Downs, selected North Island brands 36/under, s}d; ditto 37/42, 4sd; ditto 43/50, 4 l-8d; ditto 2nd quality average 31, 4}d; other N.I. brands, Ist quality 36/under, 4 5-8 d; ditto 37/42, 4Jd; ditto 2nd quality average 31, 4d. Australian Lambs.—Victorian, Ist quality (new season’s) 36/under, 4gd; ditto 37/42, 4Jd. Argentine Lamb.—lst quality (new season’s) 36/under, 4 7-8 d: ditto 37/42, 4Jd.

New Zealand Beef.—Ox fores, 2d; ox hinds, 3d. Argentine Chilled Beef.—Ox fores, 25-8 d; ox hinds, 5 5-Bd.

Australian Frozen Beef.—Ox crops, over 100, 23-8 d; ox hinds, over 160, 3 l-Bd.

New Zealand Prime Porker Pigs.— 60/100, 5Jd; 101/120, 5 l-Bd.

New Zealand Baconer Pigs.—l2l/180, sd.

Lamb market slightly weaker owing to continued large supplies of Home killed selling at low prices. Generally, market is overloaded with meat of all descriptions. Mutton Market: Wethers and ewes; trade slow with prices weaker. Beef Market: Easier owing to heavier supplies Argentine chilled beef and Home killed beef. New Zealand Porker Pigs: Steady with fair demand. New Zealand Baconer Pigs: Nominal OKARITO WASH UP. Dunedin, October 10. The Okarito wash up for the week yielded 230 z 6dwt for 85 hours dredging. MAHAKIPAWA WASH-UP. Christchurch, October 10. The Mahakipawa wash-up for the week produced 40oz. of alluvial gold. LONDON STOCK EXCHANGE. BRITISH FUNDS FIRM. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, October 9. British funds remained firm on the Stock Exchange this morning with the war loan assented at £lOl 3/9. BUTTER MARKET. A PECULIAR POSITION. London, October 9. The butter market presents a peculiar position. Finest New Zealand is definitely short and is quoted at 115/yet Australia is in surprisingly poor demand at 104/- and 106/-. It would appear that the strength of the colonial butter market at present is being maintained solely upon a shortage of New Zealand. A definite break is not expected for the next few weeks and traders are pessimistic in regard to the future. Indications of comparatively heavy production in Australia have resulted in an entire lack of speculative demand for October shipments and few buyers arg interested even at 96/-. Several important brokers, however, consider that pessimism is being overdone.

£ ; s d. 1938 101 12 6 1944 102 5 0 1950 100 0 0 1955 101 12 6 1957 101 18 9 1961 100 16 3 Commercial Bank of Sydney 17 5 0 Bank of New South Wales 31 5 0 Toohey’s Brewery 1 3 3 Tooth’s Brewery 1 18 0 Tooth’s Brewery (New Zealand delivery) 1 17 n Australian Glass 2 5 3 Goldsbrough Mort 1 7 9 Winchcombe Carson 1 5 0 Dunlop Perdriau 0 16 9 Broken Hill Pty 1 3 3 Mount Morgan 1 0 104 New Guinea Gold 7 5 0