COMMERCIAL

Southland Times, Issue 22486, 22 January 1935, Page 2

COMMERCIAL

INVERCARGILL STOCK EXCHANGE. YESTERDAY’S CALL-OVER. At a meeting of the Invercargill Stock Exchange yesterday the following prices were quoted:— Government Debentures. Government Stock; 3 J per cent., 193843: b £lO6. Government Stock, 3J per cent, 193852: b £lO6. Government Stock, 3} per cent., 193943: b £lO6. Government Stock, 31 per cent., 193952: b £lO6. Government Stock, 4 per cent., 1940: b £lO2. Government Bonds, 4 per cent., 1940: b £lO2. Government Stock, 4 per cent., 1946: b £lO6. Government Bonds, 4 per cent., 1946: b £lO6. Government Stock, 4 per cent., 1949: b £lO6 15/-. Government Bonds, 4 per cent., 1949: b £lO6 15/-. Government Stock, 4 per cent., 1955: b £lO9. Government. Bonds, 4 per cent., 1955: b £109.’ Banks. Australasia: b £ll 5/-, Commercial: b 16/6. National of New Zealand: b 71/6. New South Wales: s £3l 15/-. New Zealand: b 49/9. New' Zealand Long “D” issue: s 31/9. Reserve Bank of New Zealand: s £6 13/-. Union of Australia: s £9 3/6. Miscellaneous. British Tobacco (Aust.): s 40/6. Colonial Sugar Co.: b £42. Dominion Rubber Co.: s 31/-. Dunlop Rubber (Aust.): s 20/-. Milburn Lime and Cement: s 42/6. New Zealand Drug: s 80/-. N.Z. Guarantee Corporation: b 5/9. New Zealand Paper Mills: s 34/6. Otago Daily Times: b 53/-. Wilson’s (N.Z.) Portland Cement: b 32/6, s 33/6. Woolworths (Sydney): b 87/-. Woollen Mills. Bruce (pref.): b 21/3. Kaiapoi (ord.): b 15/6, s 15/9. Mining. Bell Hooper: s 3d. Bell Kilgour: b Id. Bendigo Goldlight: b Bd, s lid. Broken Hill: b 53/-, s 54/-. Big River: b 2/2, s 2/4. Gillespie’s Beach; b 1/6, s 1/8. Golden Sands: s 3/-. ."Kildare: b 2/5, s 2/9. King Solomon: b 3/4, s 3/BJ. Mahakipawa: b fid. • Nevis Diesel: s 4Jd. Nokomai: b 2/7. Okarito: s 8/3. Skippers: b 7d. Waihi Grand Junction; b 4/9. Waitahu: b 2/-, s 2/5. Coal. Westport Coal: b 21/3, s 22/6. Westport Stockton (ord.):. s 3/-, Insurance. National: b 22/-. New Zealand: .b 69/6. South British: b 96/9. Loan and Agency. Goldsbrough, Mort apd Co.: s 30/3. National Mortgage: s 60/-. Trustees’ Executors (Dunedin): b 63/-. Wright, Stephenson and Co. (ord.): b 17/6; (pref.): b 19/3, s 20/3. Meat Companies. N.Z. Refrigerating (20/- paid): b 20/9, s 21/6; (10/- paid): b 10/2, s 10/4. _ , Southland Frozen Meat (£1 ord.): b 76/6; (10/- ord.): b 38/3; (£1 pref.): b 76/6. South Otago Freezing Co.: b £6 5/-. Shipping. Huddart-Parker: b 37/-. Union Steam Ship Co. (pref.), b 27/-. Sales Reported. Bank of New Zealand: £2 9/6. Mount Morgans: 38/3.

NORTHERN EXCHANGES.

(Per United Press Association.) ' Auckland, January 21. Sales on ’Change: E.S. and A. Bank £5 2/6; Bank of New Zealand 50/6, 51/- (2); Reserve Bank of New Zealand £6 12/9, £6 13/-; Union Bank £9; Australian Provincial Assurance 11/lt South British Insurance 97/6; Renown Goal (pref.) 2/3; Dunlop Perdriau 19/10 (2); Farmers’ Trading 7/3, 7/4, 7/5 (2); Morris Hedstfom 17/7; Sun Newspapers 4/3; Mataki 1/10; Waihi Junction 4/10 (2).’ Wellington, January 21.

Sales on ’Change: Stock, 3J per cent., 1939-1943, £lO6 10/-; Commercial’Bank of Australia 16/9 (late Saturday), 16/9; Bank of New Zealand 50/6, 51/-; Staples Brewery 33/6; Colonial Sugar £4l 15/-; Dunlop Perdriau 20/- (3), 19/11; Electrolytic Zinc (pref.; odd lot) 33/-; Prestige (pref.) 20/9; Wilson’s Cement 33/6; King Solomon 3/6; Grand Junction 4/8; Mount Morgan 38/6, 39/(2). - ‘ • Unlisted sales on ’Change: Woolworths (Sydney) 90/-. Christchurch, January 21.

Sales on .’Change: New Zealand Government 4 per cent. Inscribed, 19371940, £103; Commercial Bank of Australia (cum. div.) 16/9; Bank of New Zealand 50/9, 50/10,50/11, 51/-; Reserve Bank of New Zealand £6 12/6 (2); New Zealand Refrigerating (10/- paid; cum. div.) 10/1; Australian Glass 63/-; /Big River 2/2 (3); Gillespies’ Beach 1/8; Maori Gully 1/6.

Sales reported: New Zealand Guarantee Corporation 5/10; New Zealand Refrigerating (10/- paid; cum. div.) 10/2: Kauri Timber 19/- (2); Manawatu Knitting Mills 33/-; Big River 2/4; Mahakipawa 9d (late Friday); Workshop Extended 2/11 (late Friday); Mount Morgan 40/9. ’ Unlisted sale on ’Change: Woolworths, Sydney (ord.) 95/-. Unlisted sale reported: Woolworths, Sydney (ord.) 95/3. Dunedin, January 21.

Sales reported: Reserve Bank of New Zealand £6 13/-; New Zealand Refrigerating (cont.) 10/2; Sun Newspapers 4/-; Mount Lyell 17/3; Big River 2/3J. AUCKLAND GAS COMPANY. DIVIDEND OF 5J PER CENT. (Per United Press Association.) Auckland, January 21. The Auckland Gas Company announces a final dividend of 2 J per cent., making 5i per cent, for the year. SYDNEY STOCK EXCHANGE.. A FIRM TONE. (United Press Assn.—Telegraph Copyright.) (Rec. 8.35 p.m.) Sydney, January 21. Though quiet, the investment market on the Stock Exchange to-day was firm. Bank shares were neglected, but the gas group were in demand. Commonwealth loans were quiet.

WOOL AND SKIN SALE. OFFERING AT WINTON. (From. Our Correspondent.) There was an entry of 30 bales and 220 bags of wool, as well as 400 sheepskins at the periodical wool and skin sale of the Central Auction Mart, Winton, yesterday. There was a large attendance of buyers present—every section of the trade being represented—and competition all through was keen, the prices realized for wool being equal to those ruling at larger sales and in the case of sheepskins, above those quoted from northern centres. Prices secured at auction were:— Wool: Southdown to Bfd; fine crossbred 61d to 7Jd; medium crossbred 5d to 6{d; coarse and matted to 4Jd; pieces 3d to 4’d; bellies 4d; locks 2Jd; dead sd. Sheepskins: Fine crossbred 6|d to 7|d; medium crossbred ssd; coarse crossbred 3Jd to 4Jd; lambs 2-Jd to 4Jd; dead and damaged 2id to 43d. Rabbitskins 7i>d to BJd per lb. Tallow: 12/3 per cwt. MINING REPORTS. GILLESPIES’ BEACH. (Per United Press Association.) Dunedin, January 21. The Gillespies’ Beach dredge for the week ended Saturday yielded 270 z 10 dwt for 150 hours. A total of 13oz 13 dwt was also obtained from the broken period prior to the holidays. MATAKI REPORT. (Per United Press Association.) Auckland, January 21. The Mataki return for the week ending January 20 was 19oz. for 133 hours’ work. SKIPPERS LIMITED. The mine Manager of Skippers, Ltd., reporting on mining work at Maori Point Beach during the past fortnight, states that, although sufficient men were kept in camp to allow work to proceed through the holidays, the river conditions were such that very little could be done. For most of the period the river was at a high level, and although the flume was carrying 2000 heads, a great deal of water was running down the old channel, and the seepage into the paddock was very much increased. Endeavours were made to clean enough of the rock bottom to allow a wash-up to be made on the Bth, and, with the Diesel working efficiently, three shifts were being worked when possible. The river commenced to rise on the morning of the 7th, and all paddock work had to be stopped. By the evening the river had reached a high level, and was running through the centre of the paddock. The flood-com-pletely filled the paddock excavation with silt and disorganized all the work. As the gold boxes had been set in very low, they were swept out by the flood and landed lower down the beach. Fortunately, they contained no gold, as the elevator sump had not been touched since the previous wash-up, and all concentrated wash was at the bottom of the paddock. Since the flood endeavours had been concentrated on cleaning out the paddock and making a fresh start, and within a few more days paddock work will be in full swing again. The floor of the paddock continues to dip towards the cliff on the western side of the river, and the lower five feet of wash shows gold very freely. Crevices are numerous and are getting deeper, and it will be necessary to lower the elevator again to allow these to be dewatered. Sluicing work during the 12 hours previous to the flood disclosed the first old workings yet seen. These were in the south-west corner of the paddock, but the balance of-the paddock floor was distinctly virgin ground and gave every appearance of carrying heavy gold. It was unfortunate that the rain which caused the flood had little effect on the race-water supply, which was still very low, and water had to be pumped by electric current generated by the Diesel plant. The matter of a cheaper electric supply was receiving attention.

Mr John Thomson, of Queenstown, had consented to act as adviser regarding paddock and sluicing work. He has had some 42 years’ experience of the Shotover River. Owing to delay caused by this flood, it was thought that there could be no wash-up until about the end of the month.

FROZEN MEAT MARKET.

The New Zealand Meat Producers’ Board has received the following cable from its .London Office, dated January 18, advising that the following are the approximate average prices realized fox' the week, based on actual transactions of wholesale quantities of the descrip-

tions 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.) 18/1/35. 11/1/35. d. d.

Lamb Market: Fair demand, with prices firmer owing to short spot stocks. Mutton Market: Lightweight wethers slightly easier, but trade fair. Ewes: Demand slow. Beef Market: Prices better, with stocks showing decrease. New Zealand Porker Pigs: Demand quiet, with lightweights easier. New Zealand Baconer Pigs: Slightly firmer.

Sales were: £ s d English, Scottish and Australian Bank 5 2 0 Colonial Sugar 42 0 0 Australian Provincial Assurance 11 3 Associated Newspapers 1 4 3 Associated Newspapers (pref; 1 4 6 Howard Smith 16 10J Australian Gas, A and B 8 2 6 British Tobacco 1 19 3 Tooth’s 2 11 0 Dunlop Perdriau 1 0 0 Goldsbrough 1 10 0 Wilcox Mofflin 10 3 Millaquin Sugar 1 16 10 Electrolytic Zinc 1 2 74 Electrolytic Zinc (pref.) 1 13 6 Anthony Hordern 19 3 Lustre 1 5 3 Hume Pipe 16 0 Australian Iron and Steel (pref.) 1 4 3 Drug Houses of Australia 1 6 9 General Industries (pref.) 1 5 0 Mt. Morgan 2 0 9 Mt. Lyell 17 1J South Broken Hill 3 16 0 Placer Development 1 5 10 Melbourne Sales. Commercial Bank of Australia (pref.) 10 4 0 Goldsbrough 1 9 9 ■Howard Smith 16 11 Gordon Gotch 2 9 0 Nestles (pref.) 1 19 0

New Zealand Sheep, Can- - terbury & North Island Selected Crossbred Wethets & Maiden Ewes. 48/56' 5J. 5| 57/64 5J 5J 65/72 5 5 North Island 48/56 5| 51 57/64 51 5£ 65/72 5 5 Ewes 48/under 4g n 4g 48/64 4 4 65/72 31 31 New Zealand Lambs, Canterbury. New Season’s Including Downs, Selected North Island Brands. 36/under 8 u 37/42 8J 8J 2nd Qual: Aver: 32 71 71 Other N.I. Brands. 1st Qual: 36/under 71 37/42 8 ,8 ' 2nd Qual: Average 32 7J ’ 7 Australian Lambs. Victorian 1st Quality 36/under 71 71 37/42 71 71 Argentine Lambs. 36/under 7 7 37/42 7 7 New Zealand Beef. Ox fores 21 21 Ox hinds 31 31 Argentine Chilled Beef. Ox fores 3a 3 s 51 Ox hinds 50 Australian Frozen Beef. Ox crops, over 100 31 31 Ox hinds, over 160 4 3s New Zealand Prime Porker Pigs. 69/80 64 60 81/100 51 51 51 101/120 51 New Zealand Baconer Pigs. 120/160 6 51