COMMERCIAL

Southland Times, Issue 22052, 27 June 1933, Page 2

COMMERCIAL

CITY STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday’s call-over on the Invercargill Stock. Exchange the following prices were quoted:— Banks. Commercial: s 16/7. Commercial, pref. 4 per cent, (cum.): b £8 15/-. E.S. and A. Bank: s 102/-, National of New Zealand: b 77/6; s 78/-. New South Wales: b £3l 15/-. New Zealand (ex div.): b 46/9; long “D” issue: s 31/-. Union of Australia: b £8 10/6. Breweries. New Zealand Breweries (shares): b 33/6; s 34/3. . Staples’ Brewery: b 26/-. Coal. Westport Coal: b 12/3. Kaitangata: b 20/9; s 20/9. Insurance. National: b 16/10. Loan and Agency. Goldsbrough, Mort and Co.: b 26/3. National Mortgage (B inscribed): b 21/-. Wright, Stephenson and Co. (ord.): b 10/6; (pref.): b 12/-; s 12/6. Meat Companies. New Zealand Refrigerating (20/paid): s 15/3; (10/- paid): b 5/11; s $/-• Southland Frozen Meat (£1 ord.): b 45/-; (10/- ord.); b 22/6; (£1 pref.): b 45/-. South Otago Freezing Co.: b 86/-. Mining. Electrolytic Zinc (ord.): b 19/6. Gillespie’s Beach: b 1/6; s 1/7. Waitahu: b 6/11; s 7/1. Kildare: b 2/1; s 2/5. King Solomon: b 1/11; s 2/1. Okarito: b 10/-; s 10/1. Paddy’s Point: s 5/6. Freshford: s 1/1. Nokomai: b 4/-; s 4/3. Big Rivers: s 1/SJ. Central Shotover: b Hid; s 1/1. Shipping. Union Steam Ship Co. (pref.): b 22/3. Woollen Mills. Bruce; s 10/-. Mosgiel: b £8 2/6. Miscellaneous. British Tobacco (Aust.): s 35/6. D.I.C. (ord.): s 11/6; (pref.): b 17/6. Dominion Fertilizer: b 13/-. Dunlop Rubber (Aust.): b 18/-; s 19/-. Milburn Lime and Cement: b 23/6. New Zealand Drug: b 63/6; s 64/6. New Zealand Farmers’ Fertilizers: s . 16/6. New Zealand Paper Mills: b 26/-; s 27/-. Otago Daily Times: b 38/6. Wilson’s (N.Z.) Portland Cement: b 32/-. Debentures. Stock, 3| per cent., (1938): b £lOO. Stock, 3} per cent. (1939): b £lOO. Stock, 4 per cent. (1940): b £lOO 10/-; s £lOO 15/-. Bonds, 4 per cent. (1940): b £lOO 10/-; s £lOO 15/-. Stock, 4 per cent. (1946): s £lOO 15/-. Bonds, 4 per cent. (1946): s £lOO 15/-. Stock, 4 per cent., (1949): s £lOO 10/-. Stock, 4 per cent., (1955): s £lOO 10/-. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, June 26. Sales on ’Change: Stock (1940) 4 per cent £lOO 10/-; Bank of New Zealand 47/6 (5); N.Z. Insurance 50/-, 49/101; Queensland Insurance 52/6; N.Z. Loan and Mercantile £3B; British Tobacco 34/6; Bycroft Ltd, Wilson’s Cement 32/9; Alexander 15/6; Blackwater 23/9. Unofficial: Weres (5/- paid) 4/6; Bell Hooper IOJd. Wellington, June 26. Sales on ’Change: Inscribed Stock 4 per cent (1946) £lOO 10/-; Bank of New Zealand ex div 48/-; N.Z. Breweries, cum div 33/10. Christchurch, June 26. Sales on ’Change:—N.Z. Government 4 per cent Inscribed (1955) £lOO 12/6 (2); Commercial Bank of Sydney £l7 (2), £l7 0/6; E.S. and A. Bank £5; National Bank of New Zealand (cum. div.) £3 17/9; Bank of New Zealand 47/7; National Insurance 16/11; Dalgety and Co. £9 7/-; Goldsbrough Mort (cum. div.) 26/10 (2); United Building Society 17/3; N.Z. Refrigerating (10/paid) 5/10 (3); N.Z. Breweries (cum. div.) 34/-; Timaru Breweries (7/6 paid) 3/10; Mt. Lyell 22/2 (3), 22/1; Alexander (contr.) 15/11 (3), 16/- (2), 16/9; Big River 1/5 (3); Blackwater (cum div.) 23/6, 23/11, 24/- (4); Nokomai 4/- (5), 3/11, 3/91; Okarito 10/2, 10/3; Waihi 21/11.

Sales Reported:—N.Z. Government 4’ Inscribed (1938-43) £lOO (2). Dunedin, June 26.

Sales reported:—Maha pipawa lid (late Saturday); Nokomai 4/-; Central Shotover 1/1 (3).

rrilE DOMINION EXECUTIVE TRUST, LTD. STOCK AND SHAREBROKERS. Alexandra Buildings, corner Dee and Don Streets. Telegrams: “Executive,” Invercargill. FAT LAMBS. KEEN SALE AT RIVERSDALE. PEAK RATES 30/9. Sensational prices were ruling for fat lambs at a special stock sale held at Riversdale yesterday when a very large yarding of this class of stock was offered on the keenest market experienced in New Zealand for many years. Up to 30/9 was paid for lines of lambs, these rates being a record for the season and a record for a number of years even preceding the commencement of the depression. During the last few weeks Canterbury buyers have been operating very freely and large consignments of fat lambs have been railed north to several works, but principally to the Belfast works of Messrs Borthwick and Co. Mr O’Connor, who has been representing Borthwick’s at recent southern sales, has been a very prominent figure and has purchased large quantities. He was again operating very freely at Riversdale yesterday and secured the bulk of the yarding, although he had to face very keen competition from other interests, particularly the Ocean Beach Company, Sims Cooper Ltd., and the New Zealand Refrigerating Company. Actually, the Gore firm of R. and F. Wallis Ltd. topped the market by purchasing a line offered by Messrs C. and J. O’Connor at 30/9, but Messrs Borthwick and Co. secured the greatest percentage of the yarding. The other firms mentioned were keen competitors, but Mr O’Connor appeared to be prepared to go to almost any price to secure the stock. The next highest price was 28/-. Approximately 5000 lambs were offered and there was no question of the prices offered failing to reach the reserves placed upon them by vendors. Actually the sellers were no less astounded than the general spectators and for a time were wondering whether or not they had been dreaming.

Such a peak demand comes at the very tail end of the season, and the prices realized yesterday were more than double those obtained by the great majority of Southland farmers who sent away their lambs to the freezing works in the ordinary course. Commercial men are unable to account for the phenomenal demand at the present time, although they state that latest London quotations indicate fairly substantial increases. It is surmised that some of the chief firms who are at present operating have commitments to fill and with the market firming must secure the necessary supplies at any cost. OKARITO MINING RETURNS. (Per United Press Association.) Dunedin, June 26. The Okarito mining return was 920 z 14dwt for 120 hours. NATIONAL BANK. PROFIT FOR THE YEAR. (Per United Press Association.) Wellington, June 26. Cabled advice has been received from London by the National Bank of New Zealand that the net profit for the year ended March 31, after providing for bad and doubtful debts amounted to £116,449 which, with £142,293 brought forward from the previous year, leaves available for distribution £258,742. It was proposed to allocate this as follows: Payment of dividend of four per cent per annum, tax free £80,000; pension and gratuity funds £14,000; Exchange Contingent Account £40,000; premises account, £10,000; Carried Forward £114,742. SYDNEY STOCK EXCHANGE. A STRONG MARKET. (U litcd Press Assn.—Telegraph Copyright.) (Rec. 8.20 p.m.) Sydney, June 26. On the Stock Exchange to-day the market was strong and sellers were rather difficult to locate. The turnover was restricted. Sales:— £ s d

DAIRY PRODUCE. The South Island Dairy Association of N.Z. Ltd., report having received the following advice from the N.Z. Produce Co-op. Marketing Association dated June 24:—Market steady after quiet week. N.Z. butter, finest 78/-; first 76/- to 77/-; Danish 89/- to 91/-. Cheese, quiet. N.Z. white 46/- to 47/-; coloured 51/-.

Messrs Henderson and Co. Ltd., report having received the following cable from their London principals, Messrs Trengrouse and Nathan Ltd., dated June 26, 1933.—Cheese.—White 46/6; coloured 51/-. Market slow.

Tire New Zealand Dairy Produce Board has received the following market report from its London office, dated June 23, 1933:—

Butter.—New Zealand salted 77/- to 78/- ex 79/-; unsalted 80/- to 84/-; 77/- to 78 equals approximately 8 7-8 d f.o.b. Deliveries New Zealand 1300 tons, in store New Zealand 10,767 tons, includes 1150 tons Otaki and Port Melbourne. Australian salted 76/- to 78/ex 79/-; unsalted 80/- to 82/-. Deliveries Australian 938 tons; in store Australian 5050 tons. Argentine unsalted 77/- to 79/-. Irish creamery salted 80/-; unsalted 84/-. Danish 70/- f.0.b., 89/- to 91/- spot. Dutch unsalted 88/to 92/-. Estonian salted and unsalted 76/- to 78/-. Latvian salted and unsalted 76/- to 78/-. Lithuanian salted and unsalted 74/- to 78/-. Market quiet. Retail prices unchanged, New Zealand lOd: Danish lid and 1/-. Cheese.—New Zealand white 46/- to 47/- (4.9 d f.0.b.); coloured 51/- to 52/(5.55 d f.0.b.). Deliveries New Zealand 20,000 crates, in store New Zealand 131,312 crates, includes 10,000 crates Rangitata. Australian white 43/- to 45/-; coloured 48/- to 50/-. Canadian white 64/ • to 68/-; coloured 68/-; coloured c.i.f. 56/-. Deliveries Canadian 5,300 boxes, in store Canadian 51,000 boxes. English finest farmers 80/- to 103/-. Market slow. New Zealand retail price, white 7d; coloured Bd. The board has also received the following advice from its agents in Canada:—Butter. New York 231 cents, Montreal 19} cents.

The National Mortgage and Agency Co., report; having received a cable from their principals, Messrs A. J. Mills and Co., Ltd., London, reading as follows:—Butter. —Market slow. New Zealand finest 78/-, 79/-; New Zealand first grade 76/-, 77/-; New Zealand unsalted 82/-, 84/-; Danish 88/-, 90/-; Australian 77/-, 78/-. Cheese.—Market slow. New Zealand white 46/-, 47/-; New Zealand coloured 52/-, 53/-; Canadian white 64/-, 66/-; Canadian coloured 66/-, 68/-.

Bank of New South Wales 31 15 0 Commercial Bank of Sydney 17 Q 0 National Bank (£5 paid) 6 5 0 Union Bank (New Zealand delivery) 8 15 0 Mercantile Mutual Insurance 18 9 Associated Newspapers 8 10 Associated Newspapers (pref.) 19 3 Australian Gas (A) 7 3 6 Australian Gas (B) 7 0 0 Australian Glass 2 9 3 Dunlop Perdriau 18 71 Goldsbrough Mort 1 7 0 Henry Jones 1 18 6 Meggitts 19 6 Howard Smith 10 0 Adelaide Steam 1 2 0 Wilcox Mofflin 7 7 Standard Cement 13 9 United Provisions 8 2 Mt. Lyell 1 2 0 Broken Hill Pty. 1 14 41 South Broken Hill 2 16 0 Commonwealth Bonds (4 per cents)— 1938 102 13 9 1941 103 6 3 1944 103 10 0 1947 104 0 0 1950 104 5 0 1953 104 12 6 1955 103 10 0 1957 103 16 3 19G1 103 17 6