COMMERCIAL

Southland Times, Issue 21848, 27 October 1932, Page 3

COMMERCIAL

STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday’s call-over on the Invercargill Stock Exchange the following prices were quoted:— Banks. Commercial: s 15/-. E.S. and A. Bank: b 93/-; s 94/6. National of Australasia (cont.) (cum div.): b £5 12/-; s £5 16/-. National of New Zealand: b 79/-. New Zealand: s 46/9. New Zealand Long “D” issue: b 29/-. Union of Australia: s £8 3/-. Breweries. Dunedin Brewery Co.: b 21/3. New Zealand Breweries—(Stock): b 20/3. Coal. Westport Coal: b 12/6. Insurance. National: s 14/10. New Zealand: b 43/-; s 43/-. Standard: s 50/-. Loan and Agency. Dalgety and Co.: s £8 17/6. National Mortgage: s 40/-. Meat Companies. Gear Meat Co.: s 35/-. N.Z. Refrigerating—(lo/- paid): b 2/10, s 3/1. Mining. Electrolytic Zinc—(ord): b 16/6. Gillespie’s Beach: b 2d prem.: s 3d prem. Golden Sands: s 1/10. Waitahu: b Id dis. Kildare: b 1/7; s 1/10. King Solomon: b 1/104; s 2/-. Mount Lyell: b 21/-. Mahakipawa: b 3Jd; s sd. Okarito: b 8/2; s 8/5. Waihi Gold Mining: b 17/3. Waihi Grand Junction: b 3/-. Mount David: s 5/3. Shipping. Huddart-Parker (pref.): b 18/-. P. and O. S.N. Co. (def. stock): b 20/-. Union Steam Ship Co. (pref.): b 20/-. Woollen Mills. Kaiapoi—(ord): b 5/-; s 6/-; (pref.): b 6/-. Mosgiel: b £6 15/-. Miscellaneous. Australian Glass (cum. div.): b 38/6. D.l.C.—(pref.): s 20/-. Donaghy's Rope and Twine: b 30/-. Milbum Lime and Cement: b 26/6. New Zealand Drug: s 61/-. N.Z. Express Coy (pref.): b 13/6. New Zealand Paper Mills: b 21/6; s 22/6. Otago Daily Times: b 37/3. Southland Guarantee Co., Ltd.: b 5/3. Wilson’s (N.Z.) Portland Cement: b 30/6; s 31/6. Woolworth’s (pref.): b 26/-. Debentures. Govt. 4J per cent Inscribed, 1938: b £96. Government 4J per cent Bonds: 1938: b £96. Govt. 4J- per cent., Inscribed, 1939: b £94“ 15/-. Government 4J per cent. Bonds, 1939: b £94 15/-. Govt. 4-> per cent., Bonds, 1941: b £95. Govt. 5 J per cent., Inscribed, 1936: b £99 15/-. Government Bonds, 5J per cent., 1936: b £99 15/-. Govt. 51 per cent., Inscribed, (Feb.): 1937: “b £99 15/-. Govt. 51- per cent. Bonds (Feb.), 1937: b £99 15/-. 51 per cent. Inscribed (Sept.), 1937: *b £99 15/-. Govt. 5) per cent Bonds (Sept.), 1937: b £99 15/-.

THE SHAREMARKET. YESTERDAY’S QUOTATIONS. (Per United Press Association.) Auckland, October 26. Sales on ’Change: Bonds 1936 51 per cent, £lOO 2/6; Stock 1937, 5' s per cent, September £100; National Bank of New Zealand £4 1/3; Bank of New Zealand D mort. 29/-; Standard Insurance 50/-; Leyland O’Brien 19/8; Tooths’ Brewery 32/3 (2); Colonial Sugar £49 15/-; Wilson’s Cement 31/-, 31/6; Cornish Point 3d; Golden Point 6d; Kawarau 7d. Wellington, October 26. Sales reported: Bank of New South Wales £2B 17/6; Bank of New Zealand £2 6/-, long term £1 9/3; Leyland, O’Brien Timber 19/9; Wilson’s Cement £1 11/6. Christchurch, October 26. Sales on ’Change: Commercial Bank of Australia 14/9 (2); New Zealand Refrigerating (10/- paid) 2/11 (3); Australian Glass (cum div) 40/9; Cornish Point 3d; Golden Point 6d; Okarito 8/4 (2); Waihi (cum div) 17/6. Sales reported: 51 per cent, inscribed September, 1937, £lOO 5/- Christchurch Tramway Board 5g per cent. 1944 £96 (2). Dunedin, October 26. Sales reported: Cornish Point (late sale Tuesday) 3d; Golden Point (late sale Tuesday) 6Jd; National Bank of New Zealand £4 0/9; Cornish Point 31d (2); Okarito 8/31, 8/4 i. THE DOMINION EXECUTIVE TRUST, LTD. FINANCIAL ADVISERS. INVESTMENT CONSULTANTS. SECURITY BUILDINGS. Stuart Street, Dunedin. Telegrams - - - “Executive,” Dunedin. Invercargill Address: P.O. Box 109. 0r778 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 ADDINGTON MARKET. MUTTON PRICES ADVANCE. Christchurch, October 26. A heavy southerly storm with rain continuing to-day caused slightly smaller entries at the weekly market at Addington. Features of the market were an easing in lamb prices and a slight advance in mutton prices. Store sheep: Four pens only were entered. Fat Lambs: The yarding of 873 head was of good quality. The top price for the market was 18/4, the average price per pound being 5d to s|d. Fat Sheep: An entry of 3900 which

was not sufficient for requirements. Values advanced 1/- a head for all classes. Values were: Extra prime heavy wethers to 19/10, prime heavy 15/6 to 17/-, medium weight prime 14/- to 15/-, ordinary 12/6 to 13/6, light 10/- to 12/-; extra prime heavy ewes to 17/4, prime heavy 13/6 to 15/-, prime medium weight 11/6 to 13/-, ordinary 9/6 to 11/-, light 7/- to 9/-; extra prime shorn wethers to 16/7; extra prime shorn ewes to 14/6. Fat Cattle: An entry of 405 head including large consignments from the North Island, Otago and Southland. The entry constituted a slight oversupply. Values for steers were on a par with recent rates while cows and heifers inclined to be easier. A line of 49 steers from Palmerston North averaged £lO 3/2. Best beef made to 25/per lOOlbs, good prime 21/- to 24/-, heavy 18/6 to 21/-, secondary 15/- to 18/-, inferior to 14/-. Values were: Extra prime heavy steers to £ll 7/6, prime heavy £8 to £lO, prime medium weight £6 15/6 to £8 10/-, ordinary quality £4 15/- to £6 5/-, light £3 5/- to £4 10/-; extra prime heifers to £9 12/6, prime £6 to £7 15/-, medium £4 10/- to £5 15/-, light £2 15/- to £4; extra prime cows to £9 2/6, prime £5 to £7, medium £3 10/- to £4 10/-, light and inferior £2 6/- to £3 5/-. Fat Pigs: There was a medium entry of baconers. The demand was slightly better. Pork was in over-supply. Values were: Choppers £2 to £3 16/-, baconers 40/6 to 51/6, heavy £3 to £3 5/6. The average price a pound was 4Jd to sd. Porkers 26/6 to 32/6, heavy 34/6 to 38/6. The average price per pound was 4Jd to sd.

BURNSIDE STOCK SALE. SHEEP AND CATTLE PRICES DROP. KEEN DEMAND FOR LAMBS. ' Dunedin, October 26. A larger yarding of fat cattle at the Burnside sales to-day caused a drop in values while sheep were also sold at reduced prices. There was an easing tendency at the commencement of the lamb sale, but the market firmed as the sale progressed and last week’s prices were realized. There was a firm sale for pigs and prices showed little change. The yarding of 225 head of fat cattle consisted principally of good handy light weight bullocks. Heifers were in short supply and two or three pens of extra heavy cows were forward. The best consignment of bullocks sold to £ll/17/6 and another pen brought up to £lO per head. One truck of prime light weight bullocks averaged £8 15/and lighter sorts were worth from £7 10/- to £8 10/-. Heifers sold to £6 12/6 and cows to £ 6/17/6. The whole yarding showed a drop of 10/- per head compared with prices obtained at the previous sale. Extra prime ox beef was worth 21/- per 1001 b; heavy 20/- and cows 18/-. In the store cattle section a line of 60 head of medium steers sold under keen competition and averaged £5 10/- per head. The balance of the yarding consisted mostly of cows which sold from £1 10/- to £4. About 2500 sheep were penned. The best entry of wethers seen for some time was included in the yarding, ’’cry few good ewes were forward, but the entry included a fair number of shorn ewes.' At the opening of the sale extra prime wethers sold to 19/showlng a drop of about 3/- per head on the previous sale rates. One consignment of wethers averaged 16/per head. Two or three pens of ewes were sold at a reduction of about 1/per head and extra prime ewes in the wool sold to 11/-. The yarding of lambs was comprised of extra primes. Extra heavy lambs sold at 22/6 and several pens brought from 18/- to 20/and light weights were worth from 14/- to 16/-. Prices over the whole yarding were equal to about 71d per There was a good yarding of prime quality pigs. These sold at prices on a par with those which ruled at last week’s sale. Prime porkers were equal to 5Jd and 6d and bacon pigs about 5Jd per lb.

NATIONAL INSURANCE COMPANY. Dunedin, October 26. The annual report of the National Insurance Company shows that the net income for the year ended September 30 amounts to £249,400 16/7. After making full provision for losses outstanding there is an underwriting surplus of £16,886 19/6. Interest and rents less income tax amount to £3o,— 975 13/8 and the balance brought forward from last year of £37,842 11/7, amounting in all to £85,705 4/9. An interim dividend was paid in May, 1932, which absorbed £16,666 13/4 leaving available a balance of £69,038 11/5. The directors have added £902 0/8 to the Taxation and Contingency Account, £9,675 13/6 to the Investment Fluctuation Account and write £2OOO off the company's premises and now recommend the payment of a further dividend of 5d per share (making a total distribution for the year of 9d per share equalling £37,500) and to carry forward £35,627 10/7. MINING REPORT. The secretary of the Mount David Sluicing Company Ltd. (Mr F. R. Thompson) advises that a return of 27 ounces of gold was obtained from 6 days’ sluicing. The manager, Mr A. C. Buckland, A.0.5.M., in his report of October 11, states: “I am getting the claim nicely opened up. The work has progressed very satisfactorily and I am pleased with the way the men have hustled to get things straightened out at the claim. The actual values can only be shown when the area of ‘bottom’ on which we are working (paddock) has its final clean in. Possibly this will be in a fortnight or three weeks.” SYDNEY STOCK EXCHANGE. (Rec. 8.30 p.m.) Sydney, October 26. The Stock Exchange is still awaiting the loan decision of the Premiers’ Conference and business is- restricted.

-SJAIRY PRODUCE. Mr G. Blaxall received the following advice from Messrs Lovell and Christmas, Ltd., London, dated October 25, 1932:— Butter. —Finest 107/-; first 98/-. Cheese.—White 65/6; coloured 59/to 60/-. Both markets slow.

Sales are as follows:— £ s d Bank of New South Wales 32 12 6 Dunlop 18 3 Goldsbrough Mort 1 7 3 Australian Drug 8 6 Colonial Sugar 55 10 0 Taranaki Oil 3 0 Bonds four per cents— 1938 101 10 0 1941 100 12 6 1944 100 0 0 1950 100 7 6 1957 101 0 0 1959 99 15 0 Melbourne Sales. Australian loan stock, four per cent— 1944 £99 15 0 1947 99 17 6 Commercial Bank pref. 8 8 0 Australian Paper 1 9 0 Broken Hill Pty. 1 7 Roma Blocka 11