COMMERCIAL

Southland Times, Issue 22041, 14 June 1933, Page 2

COMMERCIAL

STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday’s call-over on the Invercargill Stock Exchange the following prices were quoted:— Banks. Commercial: s 15/9. National of New Zealand: b 75/6. New Zealand: b 46/6. Union of Australia: s £8 8/-. Breweries. Dunedin Brewery Co.: s 21/6. New Zealand Breweries (shares): b 32/-. Coal. Westport Coal: b 11/3, s 12/-. Kaitangata: b 20/-. Insurance. National: s 16/7. New Zealand: b 49/3. Standard: b 51/6. Loan and Agency. National Mortgage “B” issue: b 20/-. Perpetual Trustees (Dunedin): s 52/6. Trustees’ Executors (Dunedin): b 49/-. Wright, Stephenson and Co. (ord.): b 9/-; (pref.): b 11/6. Meat Companies. New Zealand Refrigerating (20/paid): b 14/3, s 15/-; (10/- paid): b 5/7, s 5/9. Southland Frozen Meat (£1 ord.): b 44/-; (10/- ord.): b 22/-; (£1 pref.): b 44/-. South Otago Freezing Co.: b 82/6. Mining. Mount Morgan: b 39/6. Bell Hooper: s 1/4. Big River: s 1/6. Electrolytic Zinc (ord.): b 19/-; (pref.): b 31/-, s 31/9. Gillespie’s Beach: b 1/7J, s 1/Bs. Golden Sands: b 3/3. Waitahu: b 7/7, s 7/9. Kildare: b 2/1, s 2/5. King Solomon: b 1/6, s 1/9. Mount Lyell: b 22/-, s 22/9. Okarito: b 10/10, s 11/-. Paddy’s Point: s 5/9. Waihi Gold Mining: b 21/9. Waihi Grand Junction: s 3/10. Freshford: b lOd, s lid. Nokomai: b 4/8, s 5/-. Central Shotover: b 9Jd, s 1/-. Shipping. Huddart-Parker (pref.): b 22/3. Union Steam Ship Co. (pref.): b 22/-. Woollen Mills. Bruce: s 10/-. Kaiapoi (ord.): b 6/-. Mosgiel: b £B. Miscellaneous. Australian Glass: b 48/-, s 50/6. D.I.C. (ord.): b 10/3, s 11/-; (pref.): b 19/6, s 20/6. Dominion Fertilizer: b 11/6. Donaghy’s Rope and Twine: b 38/6. Milburn Lime and Cement: b 27/9., New Zealand Drug: s 66/-. New Zealand Farmers’ Fertilizers: s 16/6. Wilson’s (N.Z.) Portland Cement: b 30/-. Debentures. Government Stock, 3'. per cent., 1938: b £lOO. Government Stock, 3J per cent., 1939: b £lOO. Government Stock, 4 per cent., 1940: b £lOO 5/-, s £lOO 10/-. Government Bonds, 4 pel cent., 1940: b £lOO 5/-. / Government Stock, 4 per cent., 1946: b £lOO, s £lOO 5/-. Government Bonds, 4 per cent., 1946: b £lOO, s £lOO 5/-. Government Bonds, 4 per cent., 1949: b £lOO. Government Stock, 4 per cent., 1949: b £lOO. Government Stock, 4 per cent., 1955: s £lOO 15/-. Sales Reported. Sales were reported of the following:— i I

Southland Frozen Meats: 44/6. New Zealand Refrigerating: 5/7. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, June 13. Sales on ’Change: Mt. Albert Borough (1959) 6 per cent. £99; Mt. Eden Borough 1961-63 5J per cent., £9B; Commercial Bank of Australia 15/8, 15/9; ditto pref. £8 19/-; E. S. and A. Bank £5; National Bank of New Zealand £3 16/6; Bank of New Zealand D Mort. 31/- (3); N.Z. Insurance 49/6; A.P.A. 10/2 (2); Standard 52/3; Goldsbro Mort 25/3; N.Z. Breweries 32/3; British Tobacco 35/3; Bycroft 36/6; Colonial Sugar £5B, £5B 5/-; N.Z. Farmers’ Fert. 15/3; N.Z. Paper Mills 27/-; N.Z. Newspapers 25/-; Alexander (13/6 paid) 10/6; Gillespies Beach 1/8, (2); Waihi 22/4; Mt. Lyell 22/7. Wellington, June 13. Sales on ’Change: Inscribed stock 4 per cent. (1946, 1955) £lOO 7/6; Bank of New Zealand long term 31/-; Blackwater Mines 23/3, all late Monday; Commercial Bank of Australia 15/9; Union Bank £8 6/-; Goldsbrough Mort. 25/3; N.Z. Insurance 49/6; N.Z. Breweries 32/-; Toohey’s 23/7; British Tobacco 35/4; Wilson’s Cement 31/6; Big River 1/6; Mount Lyell 22/7; Nokomai 4/9 (2), 4/10. Unofficial list —National Tobacco 60/-. Christchurch, June 13. Sales on ’Change: Commercial Bank of Australia 15/8 (3); Commercial Bank of Australia (pref.) £8 17/-, £8 17/6, £8 17/- (3); National Bank of New Zealand £3 16/3; Union Bank of Australia £8 7/-; Goldsbrough Mort (cum div) 25/6, 25/9 (2); N.Z. Refrigerating (£1 paid) 14/9, 14/10; N.Z. Refrigerating (£lO paid) £5 17/- (2), 6/-, 6/1; New Zealand Breweries (cum div) 32/6; BeatK and Co. (1/- paid) 3/6; Electro Zinc (pref.) 31/8, 31/3; E. S. and A. Bank £5; Mt. Lyell 22/7, 22/3; Alexander (13/6 paid) 10/6; Big River 1/SJ, 1/6, 1/5J (2); Gillespie’s Beach (9d paid) 1/8 (2); Lawson’s Flat (1/paid) 1/9 (2); Nokomai 4/9 (7); Okarito (cum div) 11/- (5); Waitahu (4/6 paid) 7/6 (2), 7/4. Sales Reported: Commercial Bank of Australia 15/9 (2); Commercial Bank of Australia (pref.) £8 18/-; Commercial Bank of Sydney £l6 19/-; Bank of New Zealand (cum div) 47/1; Dalgety and Co. £8 15/- (late sale 12th); N.Z. Refrigerating (10/- paid) 6/3. Unlisted stock sales.—Bell Hooper 1/2; Snowy River 3/9 (2). Dunedin, June 13. Sales Reported: Mt. Lyell 22/6; N.Z. Newspapers 25/-; Waihi 22/4; Okarito 11/-; Waitahu 7/6; 4 per cent. Stock (1949) £lOO 10/- late sale; Union Bank £8 6/-. milE DOMINION EXECUTIVE 1 TRUST, LTD. STOCK AND SHAREBROKERS. Alexandra Buildings, corner Dee and Don Streets. Telegrams: “Executive,” Invercargill. HOW SAFELY INVESTED MONEY GROWS. IF N.Z. Investment Trust Debentures had been available in 1913 and you had bought only ten they would, had all returns been reinvested as earned, have been worth £265 6/8 to-day. Thus does SAFELY invested money grow. If you have a small surplus why risk it in speculative issues on the remote chance of a high return? N.Z. Investment Trust 5% Ist Mortgage £lO Convertible Debentures offer a wide guaranteed margin of Safety. . Write or call for N.Z. Investment Trust’s brochure. The Securities Corporation (N.Z.) Ltd., National Bank Chambers, The Crescent, Invercargill. ’Phone 2002, Box 243, and at Dunedin and Christchurch. A. H. MACKRELL, QTOCK AND SHARE BROKER. kJ Member Invercargill Stock Exchange, Federal Buildings, Dee Street, Invercargill. LORNEVILLE STOCK SALE, RECORD YARDINGS. GOOD SALE FOR FAT SHEEP. In keeping with the gradual firming of stock values during the past few weeks the prices for fat stock at yesterday’s sale at Lorneville showed yet another firming. An additional feature of the sale was the abnormally large yardings of fat sheep and fat lambs, the figures constituting a record for the yards. Northern buyers were again operating and secured the bulk of the fat lambs, up to 22/- per head being realized for extra good lots. Several pens of good quality lambs sold at about 20/-. Following is a comparative table of yardings for the last two sales:— June 13. June 6. Fat cattle 160 156 Store cattle 108 34 Fat lambs 6103 1939 Fat sheep 2249 3753 Store sheep 134 241 The yardings yesterday included 17 dairy cows and six vealers. The abnormal size of the fat sheep and fat lamb yardings had no deadening effect on competition and bidding at improved rates from northern and local interests was exceptionally keen throughout. Good quality lambs principally met with the strongest competition at well above local schedule rates, while medium and inferior lambs sold on a par with, if not a shade firmer than late rates. FAT SHEEP.—In this section, extra prime heavy wethers realized from 18/- to 20/6, prime medium weights from 15/- to 16/-, lighter from 11/- to 13/-. Extra prime heavy-weight ewes brought up to 12/6, prime heavy sorts from 10/- to 12/6, medium from 8/- to 9/6, freezing lots from 6/3 to 7/6. FAT LAMBS. —Extra heavy . prime lambs sold at from 19/- to 20/9, with exceptionally good lots up to 22/-, prime sorts from 15/6 to 17/9, medium from 14/- to 15/-, light from 12/- to 13/-. STORE SHEEP.—There was a small yarding, and the bulk was disposed of at late ruling rates, small Romney ewe lambs fetching 9/11, forward mixed sex lambs 9/5, and 2-tooth wethers 9/-. FAT CATTLE.—The market for good quality cattle was on a par with last week’s sale. A large number of the offering yesterday were unfinished and purchased in the main by graziers and fatteners. Best quality bullocks realized from £5 10/- to £6 10/-; medium quality sorts, £4 to £4 10/-; lighter and unfinished, down to £2 15/-; best cows to £4; medium weights, £3 to £3 10/-; lighter, from £1 15/- to £2 5/-; best heifers, up to £4; medium weights, £3 to £3 5/-; lighter sorts, £2. STORE CATTLE.—There was not a great deal of interest in this section. A pen of three-year-old Hereford bullocks realized up to £4 10/- per head. GORE STOCK SALE. A SMALL ENTRY. ' There was only a small entry at the fortnightly Gore stock sale yesterday, the bulk of the yarding comprising fat sheep of fairly good quality. There was a keen demand and prices remained firm. Heavy wethers realized up to 17/6 with good young ewes up to 12/-. Fat cattle were not in demand, fat bullocks realizing up to £5 12/6. Sales were:— N.Z. Loan and Mercantile Agency

Co. Ltd.—ls fat and forward lambs 10/6. Wright, Stephenson and Co., Ltd.— 16 fat wethers 16/3, 12 do 14/-, 28 fat ewes 5/6, 2 fat bullocks £5 12/6. National Mortgage and Agency Co., Ltd.—l2 fat ewes 8/6, 10 do 12/-. Passed in: 2 fat bullocks £3 10/-. Southland Farmers’ Co-op., Assn. Ltd.—3 empty cows 19/-, dairy cow £5 5/-. Passed in: 2 fat bullocks £4 15/-. J. E. Watson and Co., Ltd.—l 3 fat wethers 17/6.

GRAIN REPORT. Messrs Donald Reid and Co., Ltd., report as under: Wheat: There is practically no business passing with milling wheat. Prices advanced from June 1 and good milling is quoted as follows: Tuscan 3/6, Hunters 3/8, Pearl 3/10 sacks extra f.o.b. main ports. Fowl wheat has firmed in value and the best quality lines are gradually being disposed of. There is ample variety of quality available and prices range from 3/3 to 3/9 sacks extra ex store. Oats: The shipping demand eased during the week but very few actual oats are offering. The bulk of the grain threshed has been disposed of to sheep feeders. Values ruling at the beginning of the season saw oats the cheapest they have been for a great many years, and growers preferred to feed them to their pigs and other animals in preference to accepting the prices offering. Values have now improved but very few oats will be offered until threshing is commenced in the spring. It is not expected that the seed demand will be of any large proportions this year. Value to-day at handy railway stations is as follows: A grade 1/7, B grade 1/3 sacks extra on truck. Chaff: The recent continuous wet weather has greatly interfered with chaff-cutting and stored stocks have had to be drawn on to fulfil the demand. These stocks are now very much depleted and values have improved to the extent of about 10/- per ton. Prime oaten sheaf is worth £4 5/- sacks extra ex store and consignments are needed. Potatoes: Odd trucks are continually arriving and as merchants are well supplied a fair quantity is now held in store. Recent arrivals have been dug while the soil has been wet and consequently the tubers carry more dirt than usual. Buyers will not accept these lines at top prices. Allowance must be made for the dirt in the bags. Well picked tables are worth up to £3 15/ex store Dunedin. Farmers should see that their lines are well graded. There is ample room for improvement in this respect in Otago. GOLDSBROUGH MORT COMPANY. (Per United Press ..ssociation.) Wellington, June 13. The Stock Exchange Association has received a cable from the Goldsbrough Mort Company that the net profit to March 31 last was £78,984. Brought forward last year was £108,372, making the total £187,356, less a dividend recommended to total £60,000. The transfer to the provident fund was £2OOO and the carry forward £125,356. EXCEPTIONAL PRICES. CENTRAL HAWKES BAY SALE. (Per United Press Association.) Waipukurau, June 13. Exceptional prices ruled at the Central Hawkes Bay weekly sale at Waipukurau to-day. There was a large yarding of fat sheep, seventeen ewes lambs realizing £1 and three pens 23/-. Five prime wethers made 14/9, 58 others 14/6, 26 ewes 14/2 and 70 two-tooth stores 13/10. DAIRY PRODUCE. Messrs Henderson and Co., Ltd., report having received the following cable dated 13th inst. from their London principals, Messrs Trengrouse and Nathan Ltd: Cheese—White 49/-; coloured 54/-. Firm. THE METAL MARKET. (United Press Assn.—Telegraph Copyright.) (Rec. 7.50 p.m.) London, June 12. There was a slight weakness in the

CHICAGO WHEAT. (United Press Assn.—Telegraph Copyright.) (Rec. 7.50 p.m.) New York, June 12. Chicago wheat—July 77J, September 79 4-8, December 82 1-8, New York (cash) 88. J cents a bushel. LONDON MARKETS. The Department of Agriculture has received the following cablegram, dated June 10, from the High Commissioner for New Zealand, London:— Tallow: Less active. Present spot quotations are from Gd to 1/- dearer except mutton, which is unchanged. Auction will be held on 14th instant. Hemp: Manila—Market quiet about unchanged. Value of “K” grade for June-August shipment £l6. and for August-October shipment £l6 15/-. Sisal: Market quiet but firm. No. 1 for May-July shipment sold £l7 12/6, and for July-September shipment £l7 15/-. New Zealand—Mark't quiet and unchanged. Value of “Fair” £l3 15/-. No first hand sales reported. Fruit: Apples—Port Curtis discharging sound but forward fruit. Karamea and Somerset discharging fruit in good order. Limited sales of fruit ex various ships at following prices:— Sturmer, 8/- to 10/6; Delicious, Jonathan and Dunn’s, 7/- to 10/6; Ballarat, 9/6 to 10/6; Statesman, 8/6 to 10/6; Cleopatra, 9/- to 10/3; Spitzenberg, 8/6; Granny Smith, 10/-. Pears: Winter Nelis, 13/6 to 15/-; Keiffer, 10/-; i’s Winter Nelis, 12/to 13/-,

SYDNEY STOCK EXCHANGE. PASTORAL SHARES FIRM. (United Press Assn.— Telegraph Copyright.) (Rec. 7.50 p.m.) Sydney, June 12. The rise in wool values produced a firm undertone for pastoral issues on the Stock Exchange to-day, but some of the more active industrials receded from the recent high levels. Bank shares were neglected and Commonwealth Bonds steady. Sales:—

FOREIGN EXCHANGES. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, June 12. The following rates of foreign exchange are current to-day compared with par:— Par. To-day. Paris, fr. 124.21 86 New York, dol. 4.866 4.141 Montreal, dol. 4.866 4.59 Brussels, belga 35.00 24.25$ Geneva, fr. 25.22 Amsterdam, fr. 12.10 8.42 Milan, lira 93.46 64 31-32 Berlin, f.m. 20.42 14.42$ Stockholm, kr. 18.159 19.40 Copenhagen, kr. 18.159 22.42$ Oslo, kr. 18.159 19.80 Vienna, sch. 34.585 31 nom. Prague, kr. 20.02 113 g Helsingfors, mark , 124.23 226? Madrid, kr. 15.225 39 19-32 Lisbon, escu. 4$ 110 Athens, dr. 370.00 590 Bucharest, lei 25.225 570 Belgrade, kr. 250 Montevideo, dol. 45.57 d 34 nom. Buenos Aires, dol. 45.57 d 41 3-16 Rio de Janeiro, mil. 4.898 4| nom. Bombay, rupee 18 5-64 Shanghai, tael 15 9-64 Hong Kong 171 Yokohama, p. to yen 24.582 15 3-32 The selling rate for telegraphic transfers, London to Cape Town, is £99 17/6 for £lOO sterling, and the buying rate £lOO 17/6. POUND-DOLLAR EXCHANGE. (United Press Assn. —Telegraph Copyright.) London, June 12. The New York exchange touched 4.195, the highest since September, 1931. BRITISH WAR LOAN. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, June 12. The war loan 3$ per cent, issue is quoted at £9B 15/-. WHEAT CARGOES. (United Press Assn.—Telegraph Copyright.) London, June 12. Wheat cargoes show a quieter tone, tending easier. Parcels are in poor demand and offers are occasionally lower. Futures.—London, June 21/7s; September 22/-; December 22/9 per cental. Liverpool, July 5/1; October 5/3; December 5/4$ per cental. BRADFORD TOPS MARKET. London, June 12. The Bradford tops market is firm, but high prices are checking business. THE PRICE OF GOLD. London, June 12. The price of gold to-day is quoted at £6 6/21 per oz. APPLE QUOTATIONS. London, June 12. The Port Curtis’ New Zealand apples realized: Delicious 6/- to 8/-; Statesman 7/- io 8/6.

metal market to-day Quotations:— 12. d June 9 d June £ s £ s Copper, standardSpot 37 6 3 35 14 41 Forward 37 11 3 35 18 4 Copper .electrolytic — Spot 42 0 0 40 10 0 Forward 42 10 0 41 5 0 American 8 cents 8 cents. Wire Bars 42 10 0 41 5 0 Lead— Spot 13 10 0 13 6 3 Forward 13 16 3 13 12 6 Spelter— Spot 17 0 0 16 11 3 Forward 1G 17 6 16 11 3 TinSpot 227 7 6 222 16 3 Forward 227 7 6 222 16 3 Silver (pence)— Standard If ! 7-16 19 7-16 Fine 21 21

£ s. d. Colonial Sugar 58 0 0 Howard Smith 0 10 5 Associated Newspapers 0 9 4 Associated Newspapers (pref) 0 19 1J Dunlop Perdriau 0 18 9 Goldsbrought Mort 1 6 11 Commonwealth Wool 0 15 41 Winchcombe Carson 1 6 0 Electrolytic Zinc 1 0 0 Electrolytic Zinc (pref. New Zealand delivery) 1 12 41 Amalgamated Wireless (New Zealand delivery) 1 13 3 Meggitt’s 0 18 9 Berlei 1 7 41 British Tobacco 1 15 71 Tooth’s Brewery 1 18 11 Toohey’s Brewery 1 3 3 Broken Hill Pty. (2) 1 14 11 South Broken Hills 2 14 41