COMMERCIAL

Southland Times, Issue 22489, 25 January 1935, Page 2

COMMERCIAL

STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday’s call-over on the Invercargill Stock Exchange the follow-, ing prices were quoted: Government Debentures. Government Stock, 31 per cent, 193843: b £lO6. Government Stock, 3J per cent, 193852: b £lO6. Government Stock, 3J 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 10/-. Government Bonds, 4 per cent, 1946: b £lO6 10/-.

Government Stock, 4 per cent., 1949:

b £lO6 10/-. Government Bonds, 4 per cent, 1949: b £lO6 10/-. Government Stock, 4 per cent, 1955: b £lO6 10/-. Government Bonds, 4 per cent, 1955: b £lO6 10/-. Banks.

Australasia: b £ll 1/6. Commercial: s 16/11. E.S. and A. Bank: s £5 o/-. National of New Zealand: b 71/-. New Zealand: b 50/-, s 51/6. New Zealand Long “D” issue: s 31/3. Reserve Bank of New Zealand: b £6 12/6, s £9 3/6. Breweries. New Zealand Breweries (Shares): s 52/9. Staples’ Brewery: s 34/3 Coal. Kaitangata: s 21/3. Westport Coal: b 21/6, s 22/6. Westport Stockton (ord.): s 3/-. Insurance. National: b 22/-. New Zealand: b 69/9. Standard: b 70/-. Loan and Agency. Goldsbrough, Mort and Co.: s 30/-. National Mortgage: s 60/-. Wright, Stephenson and Co. (pref.): b 19/3, s 20/3. Meat Companies. N.Z. Refrigerating (20/- paid): b 21/1, s 21/6; (10/- paid): b 10/-. Southland Frozen Meat (£1 ord.): b ■ 76/-, s 80/-; (£1 pref.): b 76/-. South Otago Freezing Co.: b £6 5/-. Shipping. Huddart-Parker: b 37/-. Union Steam Ship Co. (pref.): b 27/-. Miscellaneous. Australian Glass: b 61/-. Colonial Sugar Co.: b £4l 5/-. Dominion Fertilizer: b 21/-. Dominion Rubber Co.: s 31/-. Dunlop Rubber (Aust.): s 20/-.

Milburn Lime and Cement: b 42/-, s

43/-. New Zealand Drug: s 79/9. 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 33/-. Woolworths (Sydney): b 92/6. ■ Woollen Mills. - Kaiapoi (ord.): b 15/4, s 15/8. Mining. . .. Bell Hpoper: s 3{d. - Bell Kilgour: b Id, s lid. Bendigo Goldlight: s lid. Broken Hill: s 54/-. Big River: b 2/2, s 2/4. Gillespie’s Beach: b 1/7. Golden Sands: s 3/-. Goldfields Dredging: s BJd. Kildare: b 2/5. King Solomon: b 3/2, s 3/9. Maerewhenua: s 31d. Nevis Diesel: s 4d. Nokomai: b 2/6, s 3/-. Okarito: s 8/3. Skippers: s Bd. Waitahu: b 2/-. Maori Gully: b 1/5, s 1/7. Sandhills: s 6d. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, January 24. Sales oh ’Change: Stock, 1938-1952, 34 per cent., £lO6 15/-; Stock, 19391952, 31 per cent., £lO6 17/6; Stock,. 1955, 4 per cent., £109; Bank of New Zealand 50/6 (2); Reserve Bank of New Zealand £6 13/4; New Zealand Insurance 70/9; Colonial Sugar £4l 10/-; Dominion Fertilizer 21/-; Farmers’ Trading 7/7; Framers’ Trading (B pref.) 14/3; Hill and Plummer 15/6; Morris Hedstrom 18/4; Big River 2/-; Mahakipawa 1/-; Mataki 2/-; Talisman Dubbo 10/6; Waihi 39/4. Unofficial: K.D.V. Boxes 14/3; Alluvial Holdings 2/3. Wellington,. January 24.

Sales on ’Change: Bank of New Zealand 50/10; Reserve Bank of New Zealand £6 13/-; New Zealand Refrigerating (£1 paid) 21/3; Farmers’ Trading 7/8. Unlisted sales on ’Change: Woolworths (Sydney) £4 12/6, £4 13/6, £4 13/3, £4 13/6. Christchurch, January 24. Unlisted sale on ’Change: Argo Gold (IOJd paid) 1/5. Sales on ’Change: Commercial Bank of Australia (cum. div.) 16/6, 16/5 (3); Bank of New Zealand 50/9, 50/5; New Zealand Refrigerating (£1 paid; cum. div.) 21/1 (2); New Zealand Refrigerating (10/- paid; cum. div.) 10/1 (5); Timaru Brewery (7/6 paid) 8/4; Anthony Hordern 19/-; Beath and Company (1/- paid) 9/6; British Tobacco 38/10; Dunlop Perdriau Rubber 19/9; Electrolytic Zinc (ord.) 21/6; New Zealand Newspapers 36/-; Sun Newspapers 5/1 (3); Bell Kilgour Id; Big River 1/10 (3); Gillespie’s Beach 1/8J; Gold-' fields Dredging 9d; King Solomon 3/4; Maori Gully 1/SJ; Mahakipawa lid 11 Jd (4), lid; Rawang Tin 7/111, 7/11. Sales reported: Commercial Bank of Australia (cum. div.) 16/5 (2); Reserve Bank of New Zealand £6 13/-; National Insurance 22/4; New Zealand Refrigerating (£1 paid; cum. div.) 21/2 (3); Mount Morgan 40/-; Stafford Sluicing 1/-; Waihi 39/3. Dunedin, January 24.

Sales reported: Bank of New Zealand £2 10/6; Bank of New Zealand (Long D) £1 10/-; Westport Coal £1 2/-; Kaiapoi Woollen (ord.) 15/6; Bell Hooper Id.

RESERVE BANK. ASSETS AND LIABILITIES. WEEKLY STATEMENT. (Per United Press Association.) Wellington, Januaiy 24. 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, January 21:— LIABILITIES. £ s d 1. Paid-up capital 500,000 0 0 2. General reserve fund 1,000,000 0 0 3. Bank notes 7,570,293 0 0 4. Demand liabilities—(a) State 7,909,758 12 6 (b) Banks 8,002,906 15 9 (c) Other 5,723 7 8 5. Time deposits 6. Liabilities in currencies other than New Zealand currency 7. Other liabilities 49,575 9 0 Total £27,038,257 4 11 ASSETS. £ s d 8. Reserve—(a) Gold 3,001,731 0 0 (b) Sterling exchange 21,859,433 0 5 (c) Gold exchange 9. Subsidiary coin 190,216 19 7 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 1,960,711 14 2 13. Bank buildings 1 — 14. Other assets 26,164 10 9 Total 27,038,257 4 11 Proportion of reserve (No. 8 less No. 6) to notes and other demand liabilities, 97.53 per cent. • STOCK MARKET. There were increased yardings in both the sheep sections at Lorneville on Tuesday. The entry of fat sheep consisted chiefly of medium quality evzes, the balance of the yarding comprising wethers of mixed quality. Export buyers operated freely and last week’s prices were maintained. The quality of the small yarding of fat lambs was only fair, there being one or two pens of very light lambs. Anything of good quality sold at ruling rates.

The entry of fat cattle was an average one, there being the same large proportion of aged and inferior sorts as there was last week. Very few prime bullocks were forward. Competition was limited and prices realized showed no advance on last week’s, a number of lots being passed in. Very few store cattle were entered and prices showed no change. A line of 18-month-old well-bred steers realized £2 5/-, while dairy cows were hard to sell at prices from £2 to £3. The increased yarding of store sheep attracted considerable interest and competition for store lambs was keen. A pen of good forward lambs brought 17/9, while average lambs realized 15/to 16/8, and poorer sorts 12/- to 13/6.. The following is a range of fat stock prices ruling at Lorneville at the present time;— •

Fat Cattle: Prime quality heavyweight bullocks £7 5/- to £8; prime medium weights £6 10/- to £7 10/-; lighter weights £5 10/- to £6 10/-; inferior down to £4 10/-. Good quality heavy weight heifers £4 10/- to£s 5/-; medium weight £4 to £4 10/-; unfinished down to £3. .Prime heavyweight tows £4 10/.- to £5; prime quality £3 15/.- to. £4 .10/-; medium weights £3 to £3 15/-; aged and inferior down to 35/-. Fat Sheep: Prime heavy wethers 24/6 to 25/9; prime quality 23/6 to 24/6; good quality 22/9 to 23/6;. lighter sorts down to 21/6. Prime quality heavy ewes 16/6 to 17/9; good quality 15/6 to 16/6; freezing weights 13/6 to 14/6; inferior 12/- to 13/-. COLOMBO TEA SALES. Messrs J. Rattray and Son, Ltd., have received the following cable report' of the tea auction held in Colombo on Tuesday, January 22:— “Improved quality offering, with larger supplies. Common kinds irregu-. lar, with small declines. Medium and' fine teas firmer and showing advances. DAIRY PRODUCE MARKET. Messrs A. H. Turnbull and Co., Ltd., are in receipt of a cable from their principals, Messrs W. Weddel and Co. Ltd., dated London, January 22, reading:— ' ■ , Danish butter, 118/-; New Zealand finest, 83/-; Kangaroos, 82/-. Butter market steady. New Zealand. Cheese: White, 46/-; coloured, 45/6. Cheese market quiet; no demand. The New Zealand Loan and; Mercantile Agency Company have to-day received the following cabled advice from its London office:— Butter:—New Zealand choicest salted, 82/- to 83/-. Market steady. Cheese: 45/- to 46/-. Market slow. The South Island Dairy Association report having received the following advice from the New Zealand Producers’ Co-operative Marketing Association under date January 24:— Butter: Steady. Finest, 83/-; first, 81/- to 82/-; Danish, 118/-. Cheese: Quiet. White, 45/6 to 46/-; coloured, 45/- to 45/6. . MINING REPORTS. BENDIGO RISE. The secretaries of the Bendigo Rise and Shine Gold Mining Co., Ltd., advise that assay results from the big lode (70 feet in width on the surface) continue to prove the existence of extremely rich ore, the latest report showing values of one ounce 3dwt 12gr to the ton. This assay result was secured from a sample taken at a distance of 7 feet from the foot wall, and values should appreciate as the crosscut continues across the line of reef. THE JUNCTION REWARD GOLD MINING CO., LTD. The directors advise that advantage was taken of a temporary stoppage in elevating to ascertain the amount of gold already on the tables and a washup on Wednesday resulted in 19oz 7dwt. Although highly profitable in itself, the chief interest in this return from comparatively shallow wash, is its indication of the value of the remaining portion of the paddock as the value of the wash is now steadily improving. SYDNEY STOCK EXCHANGE. (United Press Assn.—Telegraph Copyright.) (Rec. 10.5 p.m.) Sydney, January 24. Batiks and breweries were in better demand to-day. Prices were around late levels. Sales were:—

SYDNEY PRODUCE MARKETS. (United Press Assn.—Telegraph Copyright.) (Rec. 9.35 p.m.) Sydney, January 24. New season’s wheat, on country sidings, bagged, is quoted at 2/41 a bushel; bulk, 2/4 (equal to about 2/111 ex trucks at Sydney). Old wheat is equal to about 2/9.1, ex trucks at Sydney. Flour—£lo 7/6. Bran—£s. Pollard—£s 5/-. Potatoes—Tasmanian, £l2 to £l4; Victorian, £l2. Onions —Victorian, £l2. Maize. —White and yellow, 3/3. LONDON WOOL (United Press Assn.—Telegraph Copyright.) London, January 23. At the wool sales 8203 bales were offered, including 3012 bales from New Zealand. A total of 7194 bales of Australian'and New Zealand wool were sold. There was satisfactory Home and Continental competition with steady rates. New Zealand greasy crossbred, “Lavenham,” top price lOd, average 7§d. FOREIGN EXCHANGES.

(British Official Wireless).

(Rec. 5.5 p.m.) Rugby, January 23. The following rates of foreign exchanges are current to-day compared with par:— Par. To-day, Paris, fr, to £1 124.21 .7413-32 New York,- dol. to £1 4.866 4.89 J Montreal, dol. to £1 - 4.866 4.89 Brussels, belgas to £1 35 21.03 Geneva, fr. to £1 25.221 15.16 J Amsterdam, fl. to £1 12.107 7.26| Milan, lira to £l' 92.46 57 7-16 Berlin,, rmk. to £1 20.43 12.23 Stockholm,• kr. to £1 18.159 19.391 Copenhagen, kr. to £1 18.159 22.391 Oslo, kr. to £1 19.159 19.90 Vienna, schgs. to £1 34.585 26 Prague, kr. to £1 164.25 1171 Helsingfors, m. to £1 193.23 2261 Madrid, pesetas to £1 25.2215 15 29-32 Lisbon, escudas to £-1 110 1101 Athens, dr. to £1 875 515 Bucharest, lei to £1 818.6 185 Belgrade, dinars 25.2215 21.6 Rio de Janeiro, ■ p. to milreis 4,892 4} Buenos Aires, -p to dol. 45.577 15 Montevideo, p. to dol. 57 391 Bombay, pence to rupee 19 181-16 Shanghai, pence to dol. 171 Hong Kong, p. to dol. 211 Yokohama, p. to yen 24.57 14 Warsaw, par zlotys to £1 43.36 26.37 Batavia, guilders 12107 7£3i

THE DOLLAR AND FRANC.

(United Press Assn— Telegraph Copyright.) London, January 23. The dollar is quoted at 4.881, and the franc at 74 5-16, to the £ sterling.

PRICE OF GOLD.

(United Press Assn.—Telegraph Copyright.) London, January "22. The price of gold is £7 2/14 per oz.

£ s. d. Bank of New South Wales 31 15 0 Commercial Bank of Sydney 17 15 0 National Bank (£10 paid) 13 5 0 Bank of New Zealand . 2 11 0 Howard Smith - 17 0 Bums, Philp 3 4 0 Australian Gas (A) 8 2 6 British Tobacco 1 19 0 Tooths 2 11 3 Toohey’s 1 10 3 Carlton Brewery 2 14 0 Australian Glass 3 4 0 Goldsbrough 1 10 0 Morris Hedstrom 19 U Henry Jones 1 16 0 Anthony Hordern 19 3 Millaquin Sugar 1 16 0 General Industries 14 3 United Provisions 8 10 Mt. Morgan 1 19 10J Mt. Lyell • " ■ 16 74 North Broken Hill 4 19 0 Rawang 7 10 Euratha 7 5 Placer Development 27 10 0 Melbourne Sales. Commercial Bank of Aus- . tralia 17 0 British Tobacco 1 19 0 Mt. Lyell 16 9 National Bank (£5 paid) 6 8 0