COMMERCIAL

Southland Times, Issue 22474, 9 November 1934, Page 2

COMMERCIAL

THE STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday morning’s call-over on the Invercargill Stock Exchange the following prices were quoted:— Government Debentures. Government Stock, 3J per cent., 193843: b £lOB 10/-. Government Stock, 31 per cent., 193852: b £lO9 10/-. Government Stock, 3J per cent, 193952: b £lO9 10/-. Government Stock, 4 per cent., 1940: b £lO4 10/-. Government Bonds, 4 per cent, 1940: b £lO4 10/-. Government Stock, 4 per cent, 1946: b £lOB 10/-. Government Bonds, 4 per cent., 1946: b £lOB 10/-. Government Stock, 4 per cent., 1949: b £lOB 10/-. - Government Bonds, 4 per cent., 1949: b £lOB 10/-. Government Stock 4 per cent., 1955: b £ll3. Government Bonds, 4 per cent., 1955: b £ll3. Banks. Commercial: s 16/2. E.S. and A. Bank: s £5 6/-. National of New Zealand: b 70/-. New Zealand: b 49/-, s 49/6. New Zealand Long “D” issue: s 34/3. Reserve Bank of New Zealand: b £6 11/9, s £6 12/6. Breweries. Dunedin Brewery Co.: s 30/-. New Zealand Breweries (shares): b 50/-, s 50/6. Timaru Brewery (con.): b 7/6. Coal. Westport Coal: b 18/11. Westport Stockton (ord.): s 3/3. Insurance. New Zealand: b 68/-. South British: s 91/-. Standard: b 70/-. Loan and Agency. Dalgety and Co.: s £9 4/-. National Mortgage: s 61/-. Wright, Stephenson and Co. (pref.): b 20/-. Meat Companies. New Zealand Refrigerating (20/paid): b 20/-; (10/- paid): b 9/11. Southland Frozen Meat (£1 ord.): b 74/6; (£1 pref.): b 74/6. Shipping. Union Steam Ship Co. (pref.): b 27/6. Miscellaneous. Associated News: b 25/3. British Tobacco (Aust.): b 41/6. Dominion Fertilizer: b 21/-. Dominion. Rubber Co.: s 30/-. Dunlop Rubber (Aust.): b 19/6. Milburn Lime and Cement: b 42/-, s 44/-. New Zealand Drug: b 80/-. New Zealand Farmers’ Fertilizers: b 19/-, s 20/6. New Zealand Guarantee Corporation: b 5/4, s 5/7. New Zealand Paper Mills: b 35/-. Woolworths (Sydney): s 75/6. Woollen Mills. Bruce: s 14/-. Kaiapoi (cont.): b 5/-. Mining. Bell Hooper: b 3d, s 3jd. Bell Kilgour: s 2Jd. Bendigo Goldlight: b 9d, s lid. Broken Hill: s 52/-. Big River: b 1/71, s 1/10. Central Shotover: s Bd. Gillespie’s Beach: b 1/8, s 1/9. Goldfields Dredging: si/-. King Solomon: b 3/7. Mount Lyell: b 19/-. Hahakipawa: s lOd. Maerewhenua: b sd, s 6d. Nevis Diesel; b 4Jd, s 4Jd, Nokomai: b 3/8, s 4/-. Okarito: b 8/11, s 9/6. Skippers: b sd. Waihi Gold Mining: b 37/-. Waihi Grand Junction: b 4/3. Waitahu: s 4/-. Upper Shotover: s 1/-. Sales Reported. New Zealand Refrigerating (cont.): 10/-, 9/11J. Bank of New Zealand: 49/-, 49/2, 49/3. New Zealand Breweries: 50/-. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, November 8. Sales on ’Change: Stock, 1938-1952. 3z per cent., £109; Stock, 1940, 4 per cent., £lO4 15/-; Stock, 1946, 4 per cent., £109; Stock, 1949, 4 per cent., £109; Farmers’ Auctioneering (B pref.) 20/6; Guarantee Corporation 5/SJ; Renown Collieries (pref.) 2/-; Auckland Gas 27/6 (2); Auckland Gas (cont.) 19/10; Kauri Timber 19/5; Leyland O’Brien 22/6; New Zealand Breweries 50/3 (2); Colonial Sugar £74 10/-; Consolidated Brick 10/9; Wilson’s Cement 34/-; Waihi 37/4 (2), 37/5, 37/6.

Unofficial: K.DJ. Box 12/-; Weres (5/- paid) 4/10. Wellington, November 8. Sales on ’Change: Inscribed Stock, 4 per cent, 1949, £lOB 17/6; Bank of New South Wales £32; Bank of New Zealand 49/3; Reserve Bank of New Zealand £6 12/6 (all late Wednesday); Wellington Woollen (pref.) £5 15/(2); Kauri Timber 19/3; Leyland O’Brien 22/7; Wilson’s Cement 34/(late Wednesday); Nevis Diesel 4Jd. Unofficial: Loyal 20/3. Christchurch, November 8. Sales on ’Change: Commercial Bank of Australia 16/-; Bank of New Zealand 49/- (3); New Zealand Refrigerating (10/- paid) 9/10 (2); Kauri Timber 19/6; Bell Hooper 3d. (2); Gillespie’s Beach 1/8J; Goldfields Dredging lid.; Skippers 6Jd; Worksop Extended (cum. div.) 3/1 (2). Sales reported: Bank of New South Wales £32; Bank of New Zealand 49/-; Gillespie’s Beach 1/9. Unlisted sales on ’Change: Ben Ledi (1/- paid) 1/1; Procera Bread (10/paid) 12/6. Unlisted sale reported: New Zealand Mining Investment 1/2J. Dunedin, November 8.

Sales reported:—Bank of New Zealand £2 9/1; Reserve Bank of New

RESERVE BANK. ASSETS AND LIABILITIES. WEEKLY STATEMENT. (Per United Press Association.) Wellington, November 8. A Gazette issued to-night contains the following statement of the assets and liabilities of the Reserve Bank of New Zealand, as at the close of business on Monday, November Siliabilities.

Proportion of reserve (No. 8 less No. 6) to notes and other demand liabilities, 99.51 per cent. SYDNEY STOCK EXCHANGE. INVESTMENT MARKET FIRM. (United Press Assn.—Telegraph Copyright.) (Rec. 9.35 p.m.) Sydney, November 8. On the Stock Exchange to-day the market was rather subdued, but investments were quoted ;.t generally firm rates. Bonds continued to show a hardening trend. Sales:— £ s d

SHARLAND AND COMPANY. ANNUAL MEETING. DIVIDEND OF 5 PER CENT. FOR YEAR. (Per United Press Association.) Wellington, November 8. The annual meeting of Sharland and Co. re-elected the retiring directors, Mr A. E. Mabin and Lieutenant-Colonel A. A. Corrigan, and also the auditors, Mr James W. Jack (Wellington), Messrs A. and J. Grierson (Auckland) and W. E. C. Reid and Co. (Dunedin). Reviewing the operations, Mr Mabin said the stocks were lower by £7lBl, but this was only temporary. A mortgage of £15,000 on the Auckland premises had been paid off and all the company’s properties were now free of liability. The report and balance-sheet were adopted, carrying with it the payment of a 2| per cent, dividend, both on preferential and ordinary shares, making five per cent, for the year.

CLEARING SALE AT MATAURA.

Messrs Wright, Stephenson and Co., Ltd., report having held a successful clearing sale on account of Mr Leslie Wyber, Mataura, on Wednesday, 7th inst. The various lots were brought forward in excellent sale condition and the bidding at all times was brisk. Dairy Cows: An outstanding herd comprising 18 cows and 15 heifers was put under the hammer. These met with keen competition, young cows especially being keenly sought after. The top price of £9 10/- being paid for a particularly good second calver. The average for the cows was most satisfactory considering the present prices for dairy produce. They averaged 6 guineas, while the heifers were disposed of at the good figure of £4 17/6. Some indication of the quality of the herd can be realized by the price obtained for this year’s heifer calves, which were sold in a line at 30/- per head. Yearling heifers also sold well, the majority making £3 12/6. . Sheep: The offering was comprised of ewes and lambs which were sold in lots to suit purchasers. These were a very attractive class and were sold at prices ranging from 13/7 to 14/-. Horses: As was anticipated, these met with a ready sale, the top price of £46 10/- was obtained for a five-year-old gelding. Other sorts were disposed of at market rates. Implements: These were sold on a par with current market rates. The following is a list of the individual prices:—l dairy cow £7; Ido £9; Ido £8 15/-; 1 do £5; 1 do £7; 1 do £7 5/-; 1 do £5 5/-; 1 do £3 5/-; 1 do £5 15/-; 1 do £6 10/-; 1 do £7; 1 do £5 15/-; 1 do £3; 1 do £6; 1 do £4; 1 do £6 10/-; 1 do £9 10/-; 1 do £6 5/-; 1 do £5 15/-; 1 heifer £3; 1 do £4 15/-; 1 do £4 10/-; 1 do £4 10/-; 1 do £4; 1 do £4 5/-; 1 do £6; 1 do £5; 1 do £5 5/-; 1 do £4 5/-; 1 do £5 15/-; 1 do £3; 1 do £6 5/-; 1 do £6; 1 do £6 10/-; 4 yearlings at £3 2/6; 5 yearlings at £3 12/6; 1 Friesian bull 13jgns; 121 ewes and lambs at 13/7; 138 ewes and lambs at 14/-; ewes and lambs at 13/9; 83 ewes and lambs at 14/-; 1 rising 5 year gelding £46 10/-; 1 6-year gelding £35; 1 aged mare £2O; 1 5-year hack gelding £10; swing plough £1 10/-; Tyne harrows £5 10/-; drill £2l 10/-; tip dray and frame £lO 10/-; Digger plough £5; discs £l2 10/-; binder £2O 5/-; mower £7; ridger £lB 10/-; scuffler £9 10/-; side rake £11; spring cart £25; 20 sacks chaff at 3/1; 94 sacks chaff at 3/-; 3 milk cans at £2 5/-; 1 do at £2 10/-, 1 do £2 2/6: pumice boiler £5 5/-; collar £1 1/-; 1 do £1 5/-; 1 do £i 12/6; 1 do £1 2/6; saddle and breeching £2 2/6; do. £1 5/-; do £5 17/6; endless chain £2 4/-; blocks and chains £l. COLOMBO TEA SALE. Messrs J. Rattray and Son, Ltd., advise having received the following cabled report of the tea auction held in Colombo on Tuesday, 6th inst.: Quality poorer, with small supplies. Strong market for all grades, with advances of Id to -Jd. Quantity 1,390,000 lbs. DAIRY PRODUCE PRICES. The New Zealand Loan and Mercantile Agency Company report having received the following cabled advice from their London Office:—ButterNew Zealand choicest salted 76/-, 77/-. Market steady. Cheese—White 54/-, 55/-; coloured 54/-. Market is quiet. BELL HOOPER CROMWELL GOLD LIMITED. The following is the Bell Hoooper Cromwell Gold Ltd. report for the week ending November 2, 1934:— No 2 mine area Block Q north-west of No. 3A North Drive: 147 square feet of bottom was cleaned up in this block for good gold. . East of No. 3A North Drive: 85J square feet of bottom was cleaned up for fair gold. Values at present are patchy. At the start of the present panel 4 cubic yards of wash averaged 2.0 dwts. per cubic yard. Dish tests from the face indicate an improvement on this figure. A special sluice box is being rigged so that any single truck of wash can be treated for test purposes at any time. , No. 4 North Drive: Cleaning up bottom in the deep gutter was completed during the period. Work was advanced 5 feet from 243 ft to 248 ft from the West Drive. The bottom rose quickly to rail level. From 240 ft to 248 ft five cubic yards of wash were treated for lOdwts 22grs of gold equal to 2.lB3dwts per cubic yard (truck) or o.272dwts per square foot of bottom. This work is now finished. The face of the drive was advanced 9 feet from 275 to 284 feet A very erratic boulder was met with in the face and constant blasting has been necessary to make any advance. The boulder is still ahead and in the face of the drive. Owing to the difficulty in making reasonable progress work m this face has been stopped. The men have made a start driving east on water level at 200 feet north from the west cross drive. This work will prospect the ground just south of the deep gutter at a place where gold was showing. This gold was not payable but we intend to investigate the occurrence. General. As stated previously . a special arrangement of a small sluice box is beinfi rigged at the rail level at the mouth of No. 2 tunnell to treat truck load samples. By this means results of work being done will be more quickly available as a guide to mining and development work. The return for the week was 550 z 13dwt Bgrs. the dollar and the franc. (United• Press Assn—Telegraph Copyright.) London, November 7. The dollar is quoted at 5.00 J and the franc at 76 to the £ sterling.

SYDNEY WOOL SALES. A FIRM MARKET. (United Press Assn.—Telegraph Copyright.) (Rec. 10 p.m.) Sydney, November 8. At the wool sales 11,427 bales were offered and 9411 sold, also 1469 P rl .Y“ ately. The market closed firm with prices unchanged. Continental and Yorkshire buyers competed freely and there was good support from Japan. Greasy Merino sold to 18Jd for five bales from Yass. GEELONG WOOL SALES. A RECORD PRICE. (United Press Assn.— Telegraph Copyright.) Melbourne, November 8. A record Victorian price for the season of 19Jd was paid for Merino wool at the Geelong sales which opened yesterday. It was the largest offering of super wools in Victoria this season and the well sustained competition is taken as a happy augury for the The top price for crossbreds was 17gd. SYDNEY PRODUCE MARKETS. (United Press Assn—Telegraph Copyright.) (Rec. 10 p.m.) Sydney, November 8. Wheat—At country sidings, 2/~ for bagged and 1/11J bulk, equal to 2/7 and 2/7J ex trucks, Sydney. The first consignment of new season’s wheat to-day made 3/4 a bushel. Flour.—£7 15/-. Bran —£5. Pollard— £5 5/-. Potatoes—Local new, £l2; Tasmanian, £l4; Victorian, £9. Onions—Brown, £7 10/- to £9. Maize —Yellow and white, 3/3. ADELAIDE QUOTATIONS. (United Press Assn—Telegraph Copyright.) (Rec. 10.25 p.m.) Adelaide, November 8. Wheat—Growers’ lots, 2/7. Bran —£5. Pollard— £5 2/6. Oats —2/5. Barley—Best, 2/10. LONDON SHARE QUOTATIONS. (United Press Assn—Telegraph Copyright.) London, November 7. Shares: Bulolo, 138/1J; New Guinea, 5/-. E.S. AND A. BANK. FINAL DIVIDEND. DECLARED. (United Press Assn—Telegraph Copyright.) London, November 7. The English, Scottish and Australian Bank has declared a final dividend of 2J ner cent., making 5 per cent, for the year, tax free. FOREIGN EXCHANGES. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, November 7. The following rates of foreign exchange are current to-day compared

Batavia, guilder 12.107 “Sellers officials. BRITISH WAR LOAN. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, November 7. The 3| ner cent, war loan is quoted at £lO5 15/-. PRICE OF GOLD. (United Press Assn.—Telegraph Copyright.) London, November 7. The price of gold is quoted at £6 19/li per ounce. METAL MARKETS. (United Press Assn.—Telegraph Copyright.) (Rec. 9.35 p.m.) London, November 7. Metal quotations are as follows:— Nov. 6. Nov .7. £sd £ s d

£ s. d. 1. Paid-up capital 500,000 0 0 2. General reserve fund 1,000,000 0 0 3. Bank notes 8,958,019 10 0 4. Demand liabilities— (a) State 5,243,384 16 5 (b) Banks 12,538,180 14 11 (c) Other 2,659 15 10 5. Time deposits 6. Liabilities in currencies, other than New Zealand 7. currency Other liabilities 33,706 4 5 Total £28,275,851 1 7 ASSETS. £ s. d. 8. Reserve— (a) Gold 3,001,727 0 0 (b) Sterling exchange 23,609,989 12 5 (c) Gold Exchange 9. Subsidiary coin 101,865 4 8 10. Discounts — (a) Commercial and agricultural bills (b) Treasury and local body bills 11. Advances— (a) To the State or to State undertakings (b) To other public authorities (c) Other 12. Investments 1,540,832 9 6 13. Bank buildings — 14. Other assets 21,536 15 0 Total £28,276,951 1 7

Bank of New South Wales 33 5 0 Colonial Sugar 74 17 6 Howard Smith 16 0 British Tobacco 2 1 9 Tooth’s 2 11 9 Toohey’s 1 9 3 Meggitts 1 2 9 G. J. Coles 2 10 0 Goldsbrough Mort 1 11 7i Millaquin Sugar 1 15 9 Farmers 1 6 10) Anthony Hordern Australian Iron and Steel 17 3 (pref.) 1 3 0 Drug Houses of Australia 1 4 4i Broken Hill Pty. 2 11 3 Bulolo Gold 8 10 6 Bulolo Deposits 9) Euratha Gold Melbourne Sales. 9 4 National Bank (£10 paid) Commercial Bank of Aus12 14 0 tralia 16 1 British Tobacco 2 2 0 Mt. Lyell 18 10 Zinc Corporation 1 14 9

with par:— Par. To-day. Paris, fr. 124.21 75 31-32 New York, dol. 4.886 99J Montreal, dol. 4.886 4.87J Brussels, belga 32.00 21.40 Geneva, fr. 25.22 15.354 Amsterdam, fr. 12.10 7.40 Milan, lira 93.46 58 15-32 Berlin, r.m. 20.42 12.44 Stockholm, kr. 18.159 19.394 Copenhagen, kr. 18.159 22.40 Oslo, kr 18.159 19.904 Vienna, sch. 34.558 76? Prague, kr. 20.22 119? Helsingfors, mark 124.29 2264 Madrid, kr. 15.225 36| Lisbon, escu 44 lioj Athens, dr.* , 570 520 Bucharest, lei 25.225 500 Belgrade, kr. 25.225 220 Warsaw, zlotys to £ 43.36 ■ ' '• Rio de Janeiro, mil.* 8.98 44 Buenos Aires, dol.* 45.47d 364 Montevideo, dol.* 45.57d 39 Bombay, rupee 19 14 1-16 Shanghai, tael 15 15-16 Hong Kong 194 Yokohama 14 1-32

Copper— Standard,. spot 22 11 3 27 10 01 Forward 27 16 10J 27 18 Electrolytic 30 10 0 30 10 0 to 31 0 0 31 0 0 Wire Bars 31 0 0 31 0 0 American 9 cents. 9 cents. Lead— Spot 10 6 3 10 5 0 Forward 10 11 3 10 11 3 SpelterSpot 12 15 0 12 5 0 Forward 12 12 6 12 10 0 TinSpot 228 13 9 228 8 9 Forward 228 11 3 228 11 3 Silver — Fine, per oz. 23 7-lGd 23 7-16d Standard, per oz, , 25 5-16d 25 5-16d