COMMERCIAL

Southland Times, Issue 22074, 22 July 1933, Page 3

COMMERCIAL

INVERCARGILL STOCK EXCHANGE YESTERDAY’S BUSINESS. At a meeting of the Invercargill Stock Exchange yesterday the following prices were quoted: Banks. Australasia: b £ll 5/-. Commercial: b 16/-, s 16/3. Commercial, pref, four per cent, (cum.): s £9. E.S. and A. Bank: b £5. National of New Zealand: b 77/6. New Zealand: b 48/9, s 49/3. New Zealand Long “D” issue: b 30/6. . Breweries. New Zealand Breweries (Shares): b 33/6, s 34/-. Coal. Grey Valley Collieries, Ltd.: b 13/-. Westport Coal: b 13/-, s 13/6. Kaitangata: b 21/-. Insurance. National: s 17/-. New Zealand: b 50/-. Standard: b 53/-, s 54/-. Loan and Agency. Dalgety and Co.: b £9. Goldsborugh, Moil and Co.: b 27/'-. National Mortgage: s 47/-. Perpetual Trustees (Dunedin): b 50/-. Trustees’ Executors (Dunedin): b 51/6. Wright, Stephenson and Co. (pref.): s 14/3. Meat Companies. N.Z. Refrigerating (20/- paid): b 15/3; (10/- paid): b 6/6. Southland Frozen Meat (£1 ord.): b 48/6; (10/- ord.): b 24/3; (£1

pref.): b 48/6. South Otago Freezing Co.: b 90/-, s 100/-, Mining. Big River: b 1/7, s 1/8. Gillespie’s Beach: b 1/7, s 1/8. Waitahu: b 6/11, s 7/-. Kildare: b 2/2, s 2/6. King Solomon: b 1/11, s 2/1. Mount Lyell: b 22/-, s 22/6. Okarito: s 11/1, Paddy’s Point: s 5/6. Waihi Gold Mining: b 22/9. Waihi Grand Junction: b 3/4. Freshford: b 9d, s 9Jd. Nokomai: b 3/9, s 4/-. Bell Kilgour: b 1/3, s 1/4J. Shipping. Union Steam Ship Co. (pref.): b 22/9. Woollen Mills, Bruce (pref.): s 20/-. Mosgiel: b £8 3/-. Miscellaneous. Australian Iron and Steel: b 14/-, Colonial Sugar Co.: s £57 10/-. D.I.C. (pref.): b 20/-. Dominion Investments: b 20/-.

Dominion Fertilizer: b 13/6. Dominion Rubber Co.: s 20/-. Donaghy’s Rope and Twine: b 39/-. Milburn Lime and Cement: b 30/-, s 32/-. New Zealand Drug: b 65/-, s 66/3. N.Z. Farmers’ Fertilizers: s 17/-. N.Z. Guarantee Corporation: b 6/3. New Zealand Paper Mills: b 27/-, s 27/3. Wilson’s (N.Z.) Portland Cement: s 34/-. Debentures. Government Stock, 3J per cent., 1938: s £lOO 7/6. Government Stock, 4 per cent., 1940: b £lOO. Government Bonds, 4 per cent., 1940: b £lOO. Government Stock, 4 per cent., 1946: s £lOl. Late Sales Thursday. 1938-43 3J per cent. Stock, £lOO 5/-. New Zealand Breweries, 33/5, 33/6. THE WEEK’S TRANSACTIONS. ANOTHER BUSY PERIOD. The stock exchanges of the Dominion have experienced another busy week. On the whole there is little or no change in the market prices compared with the previous week. Government securities have not been quite so active, the range of sales affected being a little less than for the previous period. Interest payments were made on July 15 with respect Jo 4 per cents. 1940 and 4 per cents. 1955. The 1940 payment was to July 15 and the 1955 was for interest to June 15. Interest on the 1946 4 per cents will be paid on August 15 and on the 1949 issue on October 15. Sales effected comprised 1940 stock at £lOO 10/- and £lOO 12/6, 1946 bonds at £lOO 10/- and 1949 and 1955 stock and bonds at £lOO 10/- to £lOO 15/-. In the tax free group of Government stock there were sales reported in the 193843 issue at £lOO 5/-. This particular line carries with it accrued interest as from April 1, which goes to the buyer. The demand for banking shares that was in evidence last week continues. New Zealands sold steadily at 49/- and 49/1, the market quotation yesterday showed buyers at 48/9 and sellers 49/3. There was more demand than usual for this bank’s “D” long term mortgage shares, resulting in fair business being done at 30/6, 30/8 and 30/9. Commercials of Australia opened at 16/4, but the market weakened a little toward the end of the week when business was put through at 16/1. This bank’s final dividend of 3d per share on ordinary shares is payable about August 11. A sale of Bank of Australasias was reported at £ll 5/- compared with Sales at £ll a week ago. E.S. and A. Banks remain practically unchanged, Several parcels of this bank’s shares being transferred at £5 0/6 and £5 1/-. Bank of New South Wales shares are steady at £32 and £32 5/-. Nationals 6f Australasias were neglected during the week and no business was reported in this particular line. Commercials of Sydney show no alteration in price, two or three sales going through at £l6 18/-. Nationals of New Zealand since the beginning of the week have been quoted ex dividend and sales were reported at 79/6. Union Banks continue in demand, quite a number of sales being reported at £9 and £9 1/6, buyers for this stock yesterday offered £9 0/6 and sellers £9 2/6.

Business in insurance companies’ shares was confined to Nationals and South British. Nationals were quite active with the market unchanged as compared with last week, with sales at 16/7 and 16/8. South British brought 68/- and 68/3, more being asked for at the former figure. New Zealands were firm, with buyers at 50/- and Standards had buyers at 53/3, sellers asking 1/- more. Pastoral companies’ shares continue to attract the attention of investors. Dalgety and Company’s shares hardened to business at £9 9/- and £9 10/-. The market yesterday was buyer £9 7/6, seller £9 11/6. Goldsbrough Morts were the means of quite an active market, at slightly lower levels. Sales during the period under review ranged from’2B/5 down to 27/7. National Mortgage and Agency Company’s shares (ex dividend) were offered at 46/6. No alteration was noticeable in thn quotations for Perpetual Trustees or Trustees Executors companies’ shares. Wright Stephenson’s preference issue is unchanged, business being reported in them at 14/-. The frozen meat section is a very active one just now. Heavy trading was done in New Zealand Refrigerating Company’s shares, particularly the contributing issue, in which numerous sales were reported at 6/4 to 6/8. The

fully paids also had a fair share of business done in them at 15/8 to 15/10. Gear Meats made a sharp rise in selling at 33/1. Southland Frozen Meats advanced to high levels when buyers offered 48/6. A sale of the 10/- paids was reported yesterday at 25/-.

A large number of mining companies’ shares were dealt in during the week and in two lines in particular there was very big business transacted, viz., Big Rivers and Bell-Kilgours. The Bell-Kilgour Company’s shares sold at 1/3, 1/4 and 1/4J, numerous parcels being transferred at these figures. Big Rivers have never been so active as they were this week. The market at the commencement of the week was 1/6 to 1/6J, but towards the end this company’s shares were selling readily at 1/7, 1/7J and 1/8. Nokomais showed a little more activity in selling at 3/11 down to 3/9 and 3/8. Cornish Points are unchanged at s£d and 6d. Gillespie’s Beach have improved, sales being put through at 1/7, 1/7j and 1/8. Okaritos have been on the quiet side, only a few sales going through at 10/10 and 10/11. Waitahus had limited business at 6/10 and 6/11. Freshfords were neglected. The market yesterday showed sellers at lOd. King Solomons had a few sales at 1/11 and 2/-, more being offered at 2/1. Central Shotovers were dealt in at 1/1, 1/1J and 1/2. Waihis improved during the week, selling up to as high as 23/-. Grand Junctions are steady at 3/6 and 3/7. Mount Lyells were fairly active, several sale* going through at 22/4, 22/5 and 22/6. In the miscellaneous section steady trading was maintained. New Zealand Breweries brought 34/- and 34/3, this price being cum dividend. Since Thursday this company’s shares have been ex dividend. Colonial Sugars are a shade below the price they sold at last week, sales being made at £57 and £56 15/-. New Zealand Drugs improved, selling at 65/6 and 65/9. An improvement in the market for paper mills was noticeable, sales being reported at 26/9 and 27/-. Wilson’s Cements had several sales at 33/6 and 33/9. British Tobaccos show a slightly easier tendency in selling at 34/- and 33/9. New Zealand Guarantees are firmer, with sales at 6/6 and 6/9. N.Z. Farmers’ Fertilizer were disposed of at 16/7. The inquiry for coal companies’ shares continues, several parcels of Westports being sold at 13/- and 13/3,

NORTHERN EXCHANGES. (Per United Press Association.) Auckland, July 21. Sales on ’Change: Banks (1940) 4 per cent. £lOO 15/-; Bonds (1946) 4 per cent. £lOO 15/-; Banks (1949) 4 per cent. £lOO 15/-; Stock (1938/43) 3£ per cent. £100; Auckland City (1940) 5J per cent. £100; do. (1956) 5J per cent. £101; Auckland Power Board (1945) 5J per cent. £102; Newmarket Borough (1944) 5iJ per cent. £102; Bank of Australasia £ll 11/-; Commercial Bank of Australia 16/2; Bank of New Zealand 49/- (2); Union Bank £9 1/-, £9 2/-; Australian Provident Association 11/3 (2); National Insurance 16/8; Goldsborough Mort 27/10; Farmers Trading 4/-, 3/10; New Zealand Refrigerating (cont.) 7/-; Wilson’s Cement 33/9, 33/8; Bell, Kilgour l/3£; Big River 1/7; Gillespie’s Beach (9d paid) 1/7J; King Solomon 2/1; Golcardi 1/2. Unofficial: Sun Newspapers 4/-, 4/2. Wellington, July 21.

Sales on ’Change: Inscribed Stock, 3J per cent. (1938-52) £100; ditto £99 17/6; Bank of New Zealand 49/1 (2), 49/- (2), both late Thursday; Union Bank £9 1/6; Staples 26/6; Consolidated Brick 4/4; Big River 1/8; Nokomai 3/9; Waihi 22/-, 23/-, both late Thursday. Christchurch, July 21. Sales on ’Change :N.Z. Government 4 per cent. Inscribed (1955) £lOO 10/-, £lOO 7/6; Bank of New Zealand 49/(6); N.Z. Refrigerating (£1 paid) 15/10; N.Z. Refrigerating (10/- paid) 6/11, 7/(5); Christchurch Gas (cum. div.) 26/9; N.Z. Breweries 33/9 (6); Tooth’s Brewery 38/9 (2); Dominion Fertilizer 13/9; Mt. Lyell 22/6 (4); Alexander (13/6 paid ex div.) 19/6; Big River 1/6|; Central Shotover (9d paid) 1/6; Cornish Point 6|d (4); Freshford lOd; Gillespie’s Beach (9d paid) 1/7 (2); Golconda (7d paid) 1/1 (2); Golden Dawn 2/7; King Solomon 1/llj (4); Nokomai 3/10, 4/-. Sales reported: N.Z. Government 3| per cent. Inscribed (1938-43) £lOO 2/6; Bank of New Zealand 49/2; National Insurance 16/9; Christchurch Gas (cum. div.) 27/- (2); Beath and Co. (1/- paid) 5/6, 5/9; N.Z. Paper Mills 27/3 (2). Dunedin, July 21.

Sales on ’Change: Dominion Rubber 17/6; N.Z. Breweries 33/6 (ex div); Kawarau 6d; Bell Kilgour 1/2. Sales Reported: National Bank of New Zealand £3 19/6, £4; Union Bank £9 1/6; Kaitangata Coal 21/6; Southland Frozen Meat (cont.) 25/-; Dominion Rubber 17/6; Milbum Lime 32/-; N.Z. Breweries 33/6; Kawarau 6d; Central Shotover 1/2, late sales; N.Z. Refrigerating (cent.) 6/lOi.

DUNEDIN MARKETS. (Per United Press Association.) Dunedin, July 21. Wheat prices paid to growers under the pool system for the month of July are 3/7 for Tuscan, growers nearest port, Hunters 3/9 and Velvet 3/11. The fowl wheat market is quiet with not a great deal offering in the country. Merchants have ample stocks to meet requirements. The value locally is from 3/6 to 3/9 per bushel, sacks extra.

The oat market has a downward tendency. For a long period there has been practically no demand from the North Island and this has caused a weakening in values. Quotations vary considerably in the South Island. A Gartons are quoted at 2/5 f.o.b. s.i. but sales have been made at below this figure. The price asked for B Gartons is 2/- f.o.b. s.i. Here again sales have been made at lower money. Odd lines are still being offered by farmers but merchants are not anxious to buy. The present value for A Gartons on trucks country sidings is 1/4, sacks extra and for B’s 1/-. Sales of chaff are still confined to small lots ex store. Truck loads are quoted at £3 15/- per ton, sacks extra ex truck and lots ex store are selling at £4 5/- per ton, sacks extra. The potato market has undergone a change. A few days ago sales were be-

ing made for July delivery from this port at up to £6 5/- f.o.b. s.i. but the market has now eased with few sellers on a basis of £5 10/- f.o.b. s.i. The export of a considerable quantity to South America had a firming effect on northern markets, but once this business was completed, there was a general pressure to sell, holders apparently being anxious to quit their stocks to save them picking over their potatoes. Locally there are few potatoes now held by growers. The value for freshly picked lots is £5 to £5 10/- per ton, sacks included ex truck Dunedin.

All the seed markets remain quiet with firm undertone. It is reported that there are still sales being made overseas of various lines, such as cocksfoot, white clover and cowgrass. This has had the effect of keeping the prices of these seeds firm. The prices of other seeds are also well maintained. It is anticipated there will not be any volume of business passing until the spring demand sets in. Cocksfoot, which moved up in value from the opening pieces, is now quoted at round about 7’d per lb, f.o.b. Lyttelton. Fruit Report.

Much larger supplies of cooking and dessert apples have been arriving from Canterbury and Central Otago. The market is again easier. Stocks have been accumulating in the marts. The best demand exists for prime coloured Delicious apd some choice quality lines which arrived from Cromwell during the week realized up to 9/6 per case. This is the highest price obtained in the marts during the season for Delicious, but last year it was the current price for several months. The wholesale marts are practically bare of oranges. A further supply of Californian Valencias and Island oranges will arrive ex the mail steartier due at Wellington on Monday next. The vessel will also bring a small quantity of Californian grape fruit, cherries and plums. Consignments for the local market should reach Dunedin towards the middle of next week.

Latest news regarding the embargo on the importation of citrus fruits from Australia states that the Government will make a definite announcement on the position in a day or two. New Zealand grown lemons are in better supply and the market is easier. A few cases of Californian grown will arrive next week, but prices will be very high. North Island poorman oranges are offering more freely. Dessert pears have a good demand and any choice lines are readily taken up. Bananas are in good supply but sales are slow on account of the cold weather affecting the demand this week. A demand is being experienced in other places in the Dominion.

MIXING REPORTS. KING SOLOMON WASH-UP. The wash-up at the King Solomon mine for the week totalled 58oz 17dwt. FRESHFORD RETURN. The Freshford Gold Dredging Company’s return for 180 hours’ work was 18oz. SHEEPSKINS AND HIDES. The Southland Farmers’ Co-oper-ative Association, Ltd., report the following range of prices obtained at their monthly skin sale held in their Crescent Rooms, Invercargill, on Thursday, July 20. Sheepskins.—Medium full wool to 51d lb; medium fine wools to 6d lb; coarse full wools to s:}d lb; dingy full wools to 4d lb; first dead to 4Jd lb; second dead to 2Jd lb; | to -1 wools to 3Jd lb; lambskins to 4Jd lb. Tallow in tins—l2/3 cwt. Calfskins—2/7 to 4/9 each. Hides.—Farmers’ cow 11/3 to 14/9 each; butcher’s, ox to 6d lb; cows to 5Jd lb. Crutchings.—4|d lb.