COMMERCIAL

Southland Times, Issue 22217, 9 January 1934, Page 2

COMMERCIAL

INVERCARGILL STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday morning’s call-over on the Invercargill Stock Exchange the following prices were quoted:— Banks. Commercial: b 17/8. Commercial (pref.): 4 per cent, (cum.): b £8 15/-. New South Wales: b £32 5/-. New Zealand: b 47/9. New Zealand Long “D” issue: b 32/-. Breweries. New Zealand Breweries (Shares): b 37/6. Tooth’s Brewery: b 48/-. Coal. Westport Coal: b 13/9, s 14/9. Kaitangata: s 22/3. Insurance. National: s 19/-. , New Zealand: s 57/9. Standard: b 60/3, s 61/3. Loan and Agency. Dalgety and Co.: s £lO 5/-. National Mortgage: b 65/-, s 67/6; (B Issue): b 32/-. Wright, Stephenson and Co. (pref.): b 17/6, s 22/-. Meat Companies.

N.Z. Refrigerating (20/- paid): b 19/8; (10/- paid): b 9/7, s 9/10. Southland Frozen Meat (£1 ord.): b 60/6; (£1 pref.): b 60/6, s 61/6. South Otago Freezing Co.: b 105/-, Mining. Big River: s 1/-. Electrolytic Zinc (ord.): b 26/-; (pref.): b 33/3. Gillespie’s Beach: b 1/94, s 2/-. Mount David: s 2/-. Waitahu: b 5/9. Kildare: s 2/-. King Solomon: b 3/4, s 3/6. Mount Lyell: b 23/-. Okarito: b 8/-, s 8/3. Paddy’s Point: s 4/3. Waihi Gold Mining: b 30/-. Waihi Grand Junction: b 4/6. Bell Hooper: b lOd, s lid. Bell Kilgour: b 1/-, s 1/1. Nevis Diesel: b 1/-, s 1/1. Central Shotover: b BJd, s 1/-. Freshford: s lid. Nokomai: b 2/6, s 2/10. Upper Shotover: b 1/5, s 1/8. Shipping. Union Steam Ship Co. (pref.): b 24/-, s 25/-. Woollen Mills. Bruce (pref.): s 20/-. Mosgiel: b £8 15/-. Miscellaneous. D.I.C. (ord.): b 14/6; (pref.): b 22/3. Dominion Fertilizer: b 17/3, s 18/-. Donaghy’s Rope and Twine: b 46/-. Milburn Lime and Cement: b 31/6. New Zealand Drug: b 72/6, s 75/-. New Zealand Papei- Mills: b 27/9. Wilson’s (N.Z.) Portland Cement: b 25/9, s 26/9. Debentures. Government Stock, 31 per cent., 1938- b £lOl. Government Stock, 31 pel’ cent, 1939- b £lOl. Government Stock, 4 per cent., 1940: b £lO2 5/-. Government Bonds, 4 per cent., 1940: b £lO2 5/-. Government Stock, 4 per cent., 1946: b £lOl 15/-. Government Bonds, 4 per cent., 1946: b £lOl 15/-. Government Stock, 4 per cent., 1949: b £lOl 15/-, s £lOl 5/-. Government Bonds, 4 per cent., 1949: b £lOl 15/-, s £lOl 5/-. Government Stock, 4 per cent., 1955: b £lOO ‘5/-. Government Bonds, 4 per cent., 1955: b £lOO 5/-. NORTHERN EXCILYNGES. (Per United Press Association.) Auckland, January 8. Sales on ’Change: National Insurance 18/6; N.Z. Breweries 37/9; Dunlop Rubber 20/-; Farmers Fertilizer 18/6; Waihi 30/-; Waihi Junction 4/10. Wellington, January 8 Sales on ’Change: Inscribed Stock 4 per cent. (1940) £lO2 12/6; ditto 4 per cent. (1946) £lO2 5/-; ditto 4 per cent. (1949) £lOl 5/-; Rural Advance Bonds £96 10/-. Christchurch, January 8. Sales on ’Change: Commercial Bank of Sydney £l7 5/-; Goldsbrough Mort. 35/4, 35/6 (2); N.Z. Breweries 37/9; Anthony Hordern 14/3; Nevis Diesel Electric l/OJ. Sales reported: Commercial Bank of Australia 17/9; Dalgety and Co. £lO 10/-; New Zealand Breweries 37/10.

DAIRY PRODUCE PRICES. The New Zealand Dairy Produce Board has received the following market report from its London office dated January 5, 1934:— Butter: New Zealand salted, 65/- to 67/-, ex, 68/-; equals approx. 7.46 d f.o.b. Unsalted 70/- to 72/-. Deliveries New Zealand 2,700 tons. In store New Zealand 2,721 tons, excludes 450 tons Rangitiki. Australian salted 64/- to 65/-. Deliveries Australian 1,200 tons. In store Australian 2,819 tons. Market weak irregular. New Zealanl retail price reduced to 9d. Danish retail price reduced to 1/-. Argentine unsalted 66/— to 68/- ex 70/-. Danish 71/- f.0.b., 95/- to 96/- spot. Dutch unsalted 98/to 102/-, Siberian 62/- to 63/-. Market slow. Cheese: New Zealand white 48/- to 48/6 (5.2 d f.0.b.). Coloured 44/- to 44/6 (4.7 d f.0.b.). Deliveries New Zealand 25,000 crates. In store New Zealand 28,000 crates. Australian white 47/-; coloured 43/-. Canadian white and coloured 46/- to 50/-. Deliveries Canadian 9,CJO boxes. In store Canadian 218,000 boxes. English Finest Farmers 90/- to 94/-. Market quiet. New Zealand retail price 6d. Kia ora commenced discharge cheese January 2, finished same day. Rangitiki finished discharge cheese January 3. Rangitiki finished discharge butter January 4.

The National Mortgage and Agency Company Ltd. advise having received the following cable from their principals, Messrs A. J. Mills & Co., Ltd., London: — Butter: Market weak. New Zealand Finest 66/-, 67/-. New Zealand Firsts 65/-, 66/-. Danish 94/-, 96/-. Australian 64/-, 66/-. Cheese: Market steady. New Zealand White 48/-, 48/6. New Zealand Coloured 44/-, 44/6. Canadian White and Coloured 48/-, 52/-. SYDNEY STOCK EXCHANGE. CONFIDENCE AND BUOYANCY. TRADING PRICES ADVANCE. (United Press Assn.—Telegraph Copyright.) (Rec. 9.70 p.m.) Sydney, January 8. The Stock Exchange reopened with confidence and buoyancy the outstanding features. There was a heavy turnovei- and values were substantially firmer in every department. There was not a single downward fluctuation of any note. Australian consolidated loans shared in the appreciation, but trading and company shares showed the greatest gains. Colonial Sugars, pastorals and brewery shares made striking advances. Banks, however, though firm, were neglected. Mining and tin ventures were active at higher

MEAT QUOTATIONS. The New Zealand Meat Producers’ Board has received the following cable from its London office, dated January 5, advising that the following are the approximate average prices realized for tlie week based on actual transactions of wholesale quantities of the descriptions of meat mentioned and are for representative parcels of the goods offering during the week, being for business done on the basis of delivered to Smithfield Market and or ex London stores: — (Prices for the previous week are also shown). Per lb. 5/1/34.28/12/33

Lamb Market: In spite of increased landings, remains very steady with excellent demand for the time of year. Mutton Market: Wethers and ewes; prices have advanced further owing to extremely short spot stocks. Beef Market: Meeting with good consumption, but spot stocks are still very heavy. N.Z. Porker Pigs: Shade easier, owing to heavier supplies of Home killed. N.Z. Baconer Pigs: Steadier, with more enquiry from curers. BRITISH TOOLS. HOLDING THEIR OWN. British tools are holding their own in the export markets, as the total of this trade, as recorded in the returns for October, reach previous records (says “Quality” the journal of the Sheffield Chamber of Commerce). The total was £188,438, representing gains of £32,000 on October, 1932, and £53,000 on October, 1931. The ten months total of £1,775,911 compares wih £1,444,977 in 1932, and £1,328,439 in 1931. The figures are still a good deal below those of 1929 and 1930. There has been a gain in all the important classes of tools except engineers’ small tools, which fell off last month. Imports of tools have been increasing throughout most of the year, and the depreciation of the dollar has probably had the effect of sending up the sale of American tools in this country. The October total was £37,332, and over the ten months has gone up from £244,475 to £369,832. The reexport trade appears to be recovering somewhat, the total in October being £6,553 compared with £4,276 in October 1932. SHEFFIELD AND QUALITY. THE DEMAND FOR CHEAPNESS. It is agreed that “quality” has largely gone by the board since the depression set in. Price alone has become, the determining factor with the majority of

purchasers, and manufacturers have been compelled to adapt their products to the demand. There was a time, for instance, when Sheffield manufacturers would have nothing to do with any steel or any workmanship but that of the highest quality. They still produce their best goods for those who are prepared to pay the price, but they are catering for the cheap trade, too, as the following extract from “Quality, the record of the Sheffield Chamber of Commerce, shows:— “The outstanding feature of the trade during the past few months has been the tremendous development of those low-priced goods which Sheffield was wont, in the past, to regard with indifference, if not with contempt. The question has been often asked why Sheffield firms were content to make a present of this enormous trade to the foreigners. Leading firms have now equipped themselves to gain a share of it, and are meeting with a substantial measure of success. Current prices of lower grade saws, files and various small tools are such as prove that Sheffield can produce as cheaply as any other foreign rival, and that her methods of production and marketing are up-to-date. There is no reason why Sheffield should not make the cheap goods alongside those of high quality for which the city is famed without any loss of prestige occurring. This is what is happening. Quality is being maintained for those who desire it. At the same time our firms are catering for certain big markets which buy entirely on price. The change of policy is, undoubtedly, providing a lot of additional employment in the city, and consuming considerable quantities or Sheffield steel.”

levels. Sales: — £ s d Bank of New South Wales 32 10 0 Commercial Bank of Sydney 17 10 0 Colonial Sugar 64 12 6 Associated Newspapers 1 2 6 Associated Newspapers (pref.) 1 2 0 Howard Smith 15 0 Australian Iron and Steel (pref.) 1 1 0 British Tobacco (ex div.) 1 18 0 Dunlop Perdriau 1 0 9 Goldsbrough Mort 1 17 3 Commonwealth Wool 1 11 41 Winchcombe Carson 1 14 0 Wilcox Mofflin 14 0 Australian Gas (a) 7 14 6 Tooth’s 2 6 0 Toohey’s 1 7 6 David Jones 1 18 6 Anthony Hordern 16 3 Anthonv Hordern (pref.) 1 2 9 Drug Houses of Australia 18 0 Standard Cement 17 9 Electrolytic Zinc 1 7 3 Mt. Morgan (ex rights) 2 0 0 Bulolo Gold 5 13 6 Bulolo Deposits 2 2 Broken Mill Pty. 2 4 9 Kuala Kampar 16 li Commonwealth Bonds (4 per cents)— 1938 104 8 9 1941 104 10 0 1944 105 7 6 1950 106 12 6 1953 106 17 6 195.5 106 2 6 1957 106 17 6 1959 106 15 0 1961 107 5 0 Melbourne Sales. Goldsbrough Mort 1 17 0 Dunlop Perdriau 1 0 8 North Broken Hill 4 7 0 South Broken Hill ■ 3 5 0

N.Z. Sheep, Canterbury and North Island selected crossbred wethers and maiden ewes — d. d. 481b to 561b 5.1 5 571b to 641b 5 44 651b to 721b 41 4g North Island do.— 481b to 561b 515 571b to 641b 45 41 651b to 721b 44 4J Ewes— 481b and under 44 44 481b to 641b 3S 35 651b to 721b 34 3g N.Z. Lambs, Canterbury— 361b and under —- 65 Other South Island brands— 361b and under 6g New Season’s. Including Downs. Selected North Island brands — 361b and under 7J 7§ 371b to 421b 75 7| Second quality, average 321b 6J Other N.I. brands, 1st quality— 7 361b and under 75 71 371b to 421b 74 74 Second quality, average 321b 6g 65 Australian lambs, Victorian, 1st quality, new season’s— 361b and under 6.1 64 6j 371b to 421b 63 Argentine lamb, 1st quality, new season’s — 361b and under 61 64 371b to 421b 6B 65 N.Z. BeefOx fores 2.1 2.1 Ox hinds 2J 2j Argentine Chilled Beef— Ox fores 3.1 3.1 Ox hinds 6 55 Australian Frozen Beef— Ox crops, over 1001b Ox hinds, over 1601b 24 2g 34 35 N.Z. Prime Porker Pigs— 601b to 801b 64 7 811b to 1001b 6 64 1011b to 1201b 5.1 5.1 N.Z. Baconer Pigs— 1201b to 1601b 5.1 5