COMMERCIAL

Southland Times, Issue 22113, 6 September 1933, Page 2

COMMERCIAL

CITY STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday’s call-over on the City Stock Exchange the following prices were quoted:— Banks. Australasia: b £l2 3/-. Commercial: s 16/2. Commercial of Sydney: b £l7 5/-. E.S. and A. Bank: b 105/-. National Bank of New Zealand: b 79/6. New Zealand: b 48/3. Union of Australia: b £9 3/6. Breweries. New Zealand Breweries (shares): b 38/3; s 38/9. Staples’ Brewery: b 26/6. Timaru Brewery: b 6/-. Tooth’s Brewery: b 37/-. Coal. Westport Coal: s 13/-. Kaitangata: s 22/6. Insurance. National: b 17/4. South British: b 69/-. Loan and Agency. National Mortgage: s £2 6/6. National Mortgage (B issue): b £1 6/6. Trustees’ Executors (Dunedin): b 51/6. Wright, Stephenson and Co. (ord.): b 11/-; s 13/-; (pref.): b 13/-. Meat Companies. New Zealand Refrigerating (20/paid): b 19/-; (10/- paid): b 8/9. Southland Frozen Meat (£1 ord.): s 51/-; (10/- ord.): b 25/-. South Otago Freezing Co.: b 90/-. Mining. Electrolytic Zinc (ord.): b £1 2/9; (pref.): b £1 13/-. Gillespie's Beach: b 2/2, s 2/3. Waitahu: b 7/2; s 7/4. Kildare: b 2/3; s 2/6. King Solomon: b 2/11; s 3/3. Okarito: b 11/7; s 11/9. Waihi Gold Mining: b 26/-. Waihi Grand Junction: b 4/-. Nokomai: b 3/2; s 3/6. Freshlord: b 8d; s 91d. Bell-Kilgour: b 1/6; s 1/9. Shipping. Howard Smith: b 11/9. Huddart-Parker (pref.): b 24/6. P. and O. S.N. Co. (def. stock): b 23/-. Union Steam Ship Co. (pref.): b 23/3. Woollen Mills. Kaiapoi (ord.): b 7/-, s 8/3; (pref.): b 12/6. Mosgiel: b £8 8/-. Miscellaneous. British Tobacco (Aust.): b 34/-. Colonial Sugar Co.: b £56. D.I.C. (pref.): b 21/-. Milburn Lime and Cement: s 32/6. New Zealand Paper Mills: b 27/6. Otago Daily Times: b 43/-. Debentures, Government Stock, 3i per cent., 1938: b £lOO 15/-. Government Stock, 3| per cent., 1939: b £lOO 15/-. Government Stock, 4 per cent., 1940: b £lOO 15/-. Government Bonds, 4 per cent., 1940: b £lOO 15/-. Government Stock, 4 per cent., 1946: s £lOO 10/-. Government Stock, 4 per cent., 1949: b £lOl 5/-. Government Bonds, 4 per cent., 1949: b £lOl 5/-. Government Stock, 4. per cent., 1955: b £lOO. Government Bonds, 4 per cent., 1955: b £lOO. Late Sales Monday. Nokomai: b 3/2. King Solomon: b 3/-, s 3/1. New Zealand Guarantee Corporation: 7/-. Bank of New Zealand: £2 8/9. New Zealand Refrigerating: 8/10|. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, September 5. Sales on ’Change: Stock 1939-43, 31 per cent. £102; ditto 1940, 4 per cent £101; ditto 1955, 4 per cent £lOO 5/-; ditto 1949, 4 per cent £lOl 2/6; Commercial Bank of Australia (4) 16/-; National Bank of Australasia £l3 1/6; National Bank of New Zealand £4 2/6; Bank of New Zealand (3) 48/9; South British 71/-; Goldsbrough Mort 29/4J; Kaiapoi Woollen 7/10, 7/11; Electro Zinc pref. 33/9; N.Z. Refrigerating contributing 8/11 (2), 8/10, 8/11; Bell Hooper (9d paid) 1/-; Bell Kilgour 1/9; Big River I'Bi, 1/9; Komata Reefs 6/-; King Solomon 3/-, 3/1; Okarito 12/-; . Waihi Junction 4/5, 4/6 (3); Mount Lyell 21/9, 21/10; unofficial list. Weres (5/- paid) 4/3. Wellington, September 5. Sales on ’Change: Inscribed Stock, 4 per cent (1940) £lOl (late Monday); Commercial Bank of Australia . 16/-, 16/-; Bank of New South Wales £32 7/6; Bank of New Zealand, 4 per cent 8/9 (two late Monday), 48/9 (2); Gear Meat 32/71; Burns Philp 52/-; Big River 1/7J- (3); Gillespie’s Beach 2/3; King Solomon 3/1 (late Monday), 3/1; Bell Hooper HJd; unofficial, Investment Executive Trust. B debentures £9l. Christchurch, September 5. Sales on ’Change: Commercial Bank of Australia 16/-, 15/11 (2); E. S. and A. Bank £5 7/-; Bank of New Zealand 48/9; Dalgety and Co. £9 15/-; Goldsbrough Mort 29/6 (2), 29/5 (2), 29/4; N.Z. Refrigerating (10/- paid) 8/9 (3); North Canterbury Freezing 11/1; Kaiapoi Woollens (17/- paid) 7/10; N.Z. Breweries 38/6; Timaru Brewery (7/6 paid) 6/9; Beath and’Co. (1/- paid cum div.) 5/4 (2); Electro Zinc (pref, cum div) 33/9; Howard Smith 11/6; Mt. Lyell 21/10 (2); Alexander Mines (13/6 paid) 20/- (5), 19/9; Bell Hooper (9d paid) lljd (2), 1/- (4), Hid, 1/-, 1/1 (2); Big River 1/71; Blackwater 37/9;

Freshford 81d (2); Gillespie’s Beach (1/- paid) 2/2, 2/2J; King Solomon 3/- (2), 3/1; Lawson’s Flat (1/- paid) 81d; Nokomai 3/21; W’aihi Grand Junction 4/3 (5), 4/5; Waitahu (5/- paid) 7/3. Sales reported: N.Z. Government 4 per cent Bonds (1955) £lOO 15/-; Commercial Bank of Australia 16/01, 16/-; National Bank of New Zealand £4 3/3; N.Z. Refrigerating (10/- paid) 8/8; Kaiapoi Woollens (17/- paid) 7/11 (2), 7/10 (2); Dominion Fertilizer 13/-; Mount Lyell 21/11 (2).. Dunedin, September 5. Sales on ’Change: King Solomon (2) 3/-; Gillespie’s Beach (2) 2/21. Sales reported: Bell-Kilgour (2) 1/71, 1/8, 1/81; Bell-Hooper (4) 1/-, (2) lljd; Bank of New Zealand £2 8/9; Southland Frozen Meat (cont.) £1 5/9, ex div; King Solomon (2) 3/-.

The dominion executive TRUST, LTD. OFFERS TO INVESTORS A Limited Number of £5O First Mortgage Perpetual Income Debentures. Particulars on application to the Brokers. THE INVESTMENT EXCHANGE (N.Z.), LTD. Alexandra Buildings, Don Street. A. H. MACKRELL, STOCK AND SHARE BROKER. Member Invercargill Stock Exchange, Federal Buildings, Dee Street, Invercargill. NOTICE TO INVESTORS. A DEBENTURE INVESTMENT returning 5% per annum payable quarterly is available at par upon application to The Securities Corporation (N.Z.) Ltd. (Local Office: National Bank Chambers, Invercargill). These debentures have approximately 36/- in the £1 liquid security behind them and are recognised by leading northern sharebrokers as being one of the soundest investments in New Zealand. INQUIRIES ARE INVITED. LORNEVILLE STOCK SALE.

FAT VALUES FIRM. Yesterday’s sale of fat stock at Lorneville was a good one all round. Yardings in practically all sections wore smaller than at recent sales and consequently buyers were keen. Fat values remained firm at late ruling rates, while an increase was recorded in store sheep values. Following is a comparative table of yardings for the last two sales:—

Included in yesterday’s yarding were 75 dairy cows and one bull. Fat Sheep.—There was a small entry in the fat sheep section, comprised almost wholly of wethers. There were very few pens of good quality heavy sheep yarded, the majority being medium to light. The sale was quite firm at last sale’s rates. Prime quality wethers realized up io £1 9/-, good quality medium weights £1 4/- to £1 6/-, lighter £1 to £1 2/-, inferior down to 18/6; good quality ewes sold at 19/6 to £1 1/6, medium 16/6 to 18/-, light and inferior down to 15/-. Store Sheep.—The entry of store sheep was a small one, with prices showing a considerable improvement. Average wether hoggets made from 12/6 to 13/6, light wethers 17/-; aged ewes 7/10; a pen of extra good six and eight-tooth ewes £1 4/5. Fat Cattle.—The entry was small in this section, and the quality could be classed as only average. Judging from the smallness of the entry it was anticipated that prices would appreciate considerably, but this was not so, values showing only an improvement of about 10/- per head. Good quality medium weight bullocks sold up to £8 lighter from £6 to £9, inferior down to £5, prime quality heifers up to £7, light weights £5 10/- to £6 5/-, good quality cows, up to £5 15/-, medium £4 to £4 15/-, inferior down to £2 10/-. Store Cattle.—There was a small yarding of store cattle, consisting mostly of empty cows and heifers, with a pen of fair condition three-year-old steers. The demand was limited and prices eased somewhat as a result. Good fresh empty cows realized from £1 10/- to £2 4/6, good empty heifers from £2 to £2 12/6, the steers £4 9/-, and mixed-sex yearlings from £1 to £1 10/-. GORE STOCK SALE. A GOOD CLEARANCE. A good entry of fat stock came under the hammer at the fortnightly Gore stock sale yesterday when values ruling at recent sales were fully maintained. The entry was, generally speaking, of good quality and buyers operated freely. Extra prime well-finished wethers realized up to 25/9 in lines, while a single entry of exceptional quality changed hands at 27/-. Medium weights sold at from 19/- to 22/-. The only pen of ewes sold realized 20/9. A line of well grown ewe hoggets in the store section realized 20/4 and old breeding ewes sold at down to 6/5. The first line of ewes and lambs for the season were offered and brought 5/all counted. For fat cattle the market was not so keen, bids ranging up to £7 for well-finished bullocks. Heifers and cows realized from £2 17/6 to £4 15/-. Sales were as follows:— National Mortgage and Agency Co., Ltd: Fat wether 27/-, 9 ewes 20/9, 10 ewes and 6 lambs 5/- (all counted), fat cow £3 7/6, do £3 7/6, 2 forward cows £1 15/-, 2 forward heifers 32/-. Passed in: 19 fat wethers 21/3. Dalgety and Co., Ltd: 66 fat wethers 20/9, 17 do 19/3, 30 failing mouth ewes 6/5, 3 fat bullocks £7. Passed in: 2 fat bullocks £5. Southland Farmers’ Co-op. Association, Ltd: 88 ewes hoggets 20/4. J. E. Watson and Co., Ltd: 18 fat wethers 25/9, 25 fat wethers 21/6, fat heifer £2 17/6, 2 fat cows £4 15/-, dairy cow at profit £4 2/6. Passed in: 2 dairy cows at profit £3. N.Z. Loan and Mercantile Agency Co., Ltd.: 4 fat ewes 12/9. Wright, Stephenson and Co., Ltd.: 20 fat wethers 22/3, 2 ewe hoggets 17/6, 9 small m.s. hoggets 9/2. Passed in: 23 fat ewes 7/-.

CLEARING SALE AT EDENDALE. Messrs Wright, Stephenson and Co. Ltd., report hqving held a clearing sale at Edendale on Saturday, September 2, on account of Mr Joseph Caldwell. There was a good attendance of buyers, and the daiyy cows met with good competition. The top price was £8 5/-, the average being the satisfactory figure of £5 10/-. Yearling heifers were disposed of at £2. The implements were brought in in good order, and in most cases met with a ready sale. The following is a list of prices realized:— Dairy Cows: £8 5/-, 3 at £7, 3 at £6 10/-, 3 at £6; 4 at £5 10/-, 3 at £5 5/-, £4 10/-, 2 at £4 5/-, 2 at £4, £3 5/-, 2 al £3, 4 heifers at £2 12/6, £2 10/-, £2 2/6, 2 at £1 15/-, 2 at £2 5/-, £1 12/6, £ll, 12 yearling heifers at £2. Implements: Fordson Tractor £29; binder £l7; roller £l3; spring cart £lO 15/-, lime sower £lO 10/-, cultivator £5 15/-, tractor lorry £4 10/-, D.F. plough £8; tyne harrows £4; scuffler £2 10/-; discs £2 10/-. GRAIN REPORT. Messrs Donald Reid and Co. Ltd. (Dunedin) report as follows:— Wheat.—Odd samples of milling quality are still arriving on the market Local millers have received their quota for this season find lines still unsold are being stored on the board’s account, to be disposed of later to best advantage. September prices are as follows:—Tuscan 3/8|; Hunters 3/10J-; Velvet 4/0J; sacks extra f.o.b. main ports. The increment was only Id per bushel this month; a further jd per bushel next month will finalize values for the season. Fowl wheat is offering freely but little business of a wholesale nature is being transacted. Ex store prices to consumers range from 3/3 to 4/- per bushel according to quantity and quality required. Oats.—This market is inclined to ease again, but even at the low prices, merchants are not ankious to purchase any quantity. On the’ other hand, farmers will not consider, the offers at all. Business, apart from the seed demand, is at a standstill.’ Nominal values are as follows:—A grade 1/3 to 1/4. B grade 1/- to 1/1; sacks extra on trucks at growers’ sidings. Chaff.—Ample chaff is available for the local demand.. Consignments are arriving from northern and southern growers. £3 10/- per ton; sacks extra, is the ruling rate to full truck purchasers. £3 15/- to £4 5/- is the value ex store for small quantities. Potatoes. —This market shows no signs of recovery. Values eased again and with an oversupplied market the top price to-day is £4, sacks in ex store Dunedin, Ortly odd sales are possible ex truck annd the stores are now holding large stocks. It appears certain that there will be a further drop in prices unless some unforeseen business comes to hand. Seed potatoes are selling freely: Arran Chief at £4, and King Edward at £4 10/-; sacks in ex store. DAIRY PRODUCE. The New Zealahd Dairy Produce Board has received the following market report from its .London Office dated September 2, 1933; — Butter. —New Zealand Salted 91/- to 94/-; 91/- to 94/- bquals approximately f.o.b.; unsalted 94/- to 96/-. Deliveries New Ze'aland, 1850 tons. In store New Zealand; 5769 tons (includes 600 tons Port. Wellington). Australian Salted 91/- to 93/-; unsalted 91/- to 94/-. Deliveries Australian, 750 tons. In store Australian, 1800 tons. Danish 89/- f.0.b., 108/- to 110/- spot. Dutch Unsaltcd 106/- to 110/-. Siberian 74/to 77/-. Ukranian 72/- to 74/-. Market firm. New Zealand .retail price increased to 1/-. Estonian salted and unsalted 81/- to 83/-. Latvian salted and unsalted 81/- to 84/-. Lithuanian salted and unsalted 81/- ’to 84/-. Market quiet. Cheese. —New Zealand white 47/6 to 48/- (5.05 d. f.0.b.); coloured 50/- to 51/- (5.4 d. f.0.b.). Market steadier following improved demand. Deliveries New Zealand 233,425 crates. In store New Zealand 121,175 crates. Canadian white 62/- to 68/-; new season’s white 49/- to 51/-; new season’s coloured 51/to 54/-; c.i.f. 49/-. Deliveries Canadian 3,800 boxes. In store Canadian 103,655 boxes. English Finest Farmers 72/- to 76/-. Market steady. New Zealand retail price unchanged, 6d. The Board has also received the following advice from its agents in Canada:—Butter. New York 23 cents, Montreal 17j cents. Canadian stocks 4,617 tons (last year 4981 tons). FOREIGN EXCHANGES. (British Official Wireless). (Rec. 5.5 p.m.) Rugby, September 4. The following rates of foreign exchange are current to-day compared with par:—

BRITISH WAR LOAN. (British Official Wireless.) (Rec. 5.15 p.m.) Rugby, September 4. The 3j per cent war loan issue is quoted at £lOO. THE DOLLAR QUOTATION. (United Press Assn.—Telegraph Copyright.) London, September 4. The dollar is quoted at 4.56.

SYDNEY STOCK EXCHANGE. COMPANY SHARES IN DEMAND. (United Press Assn.—Telegraph Copyright.) (Rec. 7.55 p.m.) Sydney, September 5. On the Stock Exchange to-day front rank company shares were in request at higher levels and there were extensive dealings in gold shares. The market otherwise was steady. Sales:

THE METAL MARKET. (United Press Assn.—Telegraph Copyright.) (Rec. 8.50 p.m.) London, September 4. Metal quotations are as follows:—

Sept. 5. Aug. 29. Fat Cattle 61 134 Store Cattle 112 201 Fat Sheep 591 872 Store Sheep 308 121

Par. To-day. Paris, fr. 124.21 80 25-32 New York, dol. 4.866 4.57J Montreal, dol. 4.866 4.771 Brussels, belga 35.00 Geneva, fr. 25.22 11.37J Amsterdam, fr. 12.10 7.85J Milan, lira 93.46 60 1-16 Berlin, r.m. 20.42 13.261 Stockholm, kr. 18.159 19.381 Copenhagen, kr. 18.159 22.40 Oslo, kr. 18.159 19.90 Vienna, sch. 34.585 29| nom. Prague, kr. 20.02 106? Helsingfors, mark 124.23 226J Madrid, kr. 15.225 37 13-16 Lisbon, escu 4i 104$ Athens, dr. 370.00 565 Bucharest, lei. 25.225 535 Belgrade, kr. — 235 Montevideo, dol. 45.57d 36$ nom. Buenos Aires, dol. 45.57d 44$ Rio de Janeiro, mil. 4.898 4 3-4 Bombay, rupee ——— 18 1-16 Shanghai, tael - — 15 3-16 Hong Kong ■ 16 1-16 Yokohama, p. to yen. 24.582 14 1-8

Bank of New South Wales £ 32 s 10 d 0 Dalgetv’s 10 10 0 National Bank (£10 paid, New Zealand delivery) 13 7 6 Australian Provincial Assurance 11 6 Associated Newspapers 8 8 Associated Newspapers (pref.) 18 8 Australian Gas (a) 7 6 6 Australian Gas (b) 7 7 0 Berlei (ex dividend) 1 5 9 Australian Glass 2 9 0 Dunlop Perdriau 18 44 Dunlop Perdriau (pref.) 1 13 0 Goldsbrough Mort 1 10 0 Anthony Hordern 11 1 Automatic Totalisators 12 6 David Jones 1 8 6 Henry Jones 1 17 10J Fairymead Sugar 1 9 0 Newcastle Gas (c) 12 0 Farmers 13 9 Standard Cement 15 6 Meggitt’s 1 0 li Tooth’s 1 19 0 Toohey’s 1 4 0 Wilcox Mofflin 9 11 Commonwealth Wool 19 4i Mt. Morgan 2 6 0 Bulolo Gold 4 14 9 Bulolo Deposits 1 4J Broken Hill Pty. 1 17 9 South Broken Hill 3 2 0 North Broken Hill 4 4 3 Commonwealth Bonds (4 per cents) — 1938 103 10 0 1941 103 5 0 1944 103 16 3 1947 104 15 0 1950 103 8 9 1953 103 10 0 1955 103 15 0 1957 104 5 0 1961 105 0 0 Melbourne Sales. Goldsbrough Mort 1 10 0 Metropolitan Gas 12 14 0 Anthony Hordern 10 8 Dunlop Perdriau 18 5 Herald and Times 2 4 0 National Bank (£5 paid) 6 9 0 Mt. Lyell 1 2 0

Sep. 2. Sep. 4 d £ s d £ s Copper, standardSpot 36 1 3 35 1 3 Forward 36 6 3 36 3 14 Copper, electrolytic— Spot 39 10 0 39 5 0 Forward 40 10 0 40 5 0 American 9 cents — Wire Bars 40 10 0 40 5 0 LeadSpot 12 5 0 12 0 0 Forward 12 10 0 12 6 3 Spelter— Spot 17 1 3 16 18 9 Forward 17 5 0 17 3 9 TinSpot 220 8 9 219 1 3 Forward 220 8 9 219 1 3 Silver (pence)— Standard 18 1-16 18 8 Fine 194 19 9-16