COMMERCIAL

Southland Times, Issue 25305, 7 June 1935, Page 2

COMMERCIAL

THE STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday’s call-over on the Invercargill stock exchange the following prices were quoted:— . Government Debentures. Government Stock, 3} per cent., 193843: b £lO5. Government Stock, 3} per cent., 1938— 52: b £lO6 10/-. Government Stock, 3} per cent, 193943: b £lO5. Government Stock, 3} per cent, 193952: b £lO6 10/-. Government Stock, 4 per cent., 1940: b £lO3. Government Bonds, 4 per cent, 1940: b £lO3. Government Stock, 4 per cent., 1946: b £lO7 15/-. Government Bonds, 4 per cent., 1946: b £lO7 15/-. Government Stock, 4 per cent., 1949: b £lOB. Government Bonds, 4 per cent., 1949: b £lOB. Government Stock, 4 per cent., 1955: b £ll2. Government Bonds, 4 per cent, 1955: b £ll2. Banks. Commercial: s 15/5. National of New Zealand: b 66/6. New Zealand: b 50/9. New Zealand Long “D” issue: s 34/6. Reserve Bank of New Zealand: s £6 15/6. Union of Australia: b £9. Breweries. Dunedin Brewery Co.: s 30/-. New Zealand Breweries (shares): b 53/3, ’ Coal. Westport Coal: b 21/-. Insurance. National: s 21/6. New Zealand: b 70/-. Standard: b 72/-, s 73/6. Loan and Agency. National Mortgage, “B” issue: b 31/-. Wright, Stephenson and Co. (pref.): b 19/3, s 20/-. Meat Companies. N.Z. Refrigerating (20/- paid): s 20/6, (10/- paid): s 9/2. Southland Frozen Meat (£1 ord.): s 76/6; (£1 pref.): s 76/6. South Otago Freezing Co.: b £6 13/6. Shipping. Union Steam Ship Co. (pref); b 26/6. Miscellaneous. Colonial Sugar Co.: s £42/ D.I.C. (ord.): b 15/-. Donaghy’s Rope and Twine: b 50/-. Dunlop Rubber (Aust.): b 16/5., Milburn'Lime and Cement: b 44/-. New Zealand Paper Mills: b 34/6. Woolworth’s (Sydney): s 91/-. Mortgage Corporation: b 1/6 (prem). Woollen Mills. Kaiapoi (cont.): s 5/9. Mining. Bendigo Goldlight: b lid, s ll|d. Broken Hill Prop.: b 55/-. Big River: b 2/5, s 2/6. Electrolytic Zinc (ord): b 25/6. Gillespie’s Beach: b 1/5. Goldfields Dredging: s 4d. Kildare: b 3/4. King Solomon: b 3/9. Moonlight, Nelson: s Id. Nokomai: s 2/6. Okarito: b 5/-, s 6/-. Skippers: s 3d. Maori Gully: s 1/8. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, June 6. Sales on ’Change: Stock, 1938-1952, 3 i per cent. £lO7 10/-; Commercial Bank of Australia 15/- (2); National Bank of New Zealand £3 7/6; Bank of New Zealand 50/10; Reserve Bank of New Zealand £6 14/9 (2); Pukemiro Coal 26/6; Renown Coal 10/-; Renown Coal (pref.) 2/6; Kauri Timber 20/-; Australian Glass 68/9; Broken Hill Proprietary 56/6; Consolidated Brick 8/9; G. J. Coles 68/-; Hill and Plummer 18/6 (2); Wilson’s Cement 36/9; Woolworths (New Zealand) £ll 1/6; Mahakipawa B}d; Waihi 38/6; Waihi Junction 4/5; Mount Morgan 36/-. Unofficial: Woolworths (West Australia) £6 10/-. Wellington, June 6. Sales on ’Change: Inscribed Stock, 3} per cent., 1938-1952, £lO7 5/-; Inscribed Stock, 4 per cent., 1949, £lOB 7/6; Commercial Bank of Australia 15/2; National Bank of Australasia £l2 10/- (late Wednesday); Reserve Bank of New Zealand £6 14/9 (2); Auckland Gas 27/1; South British Insurance 97/-, 96/6; Union Steam 27/3; Northern Steam 1/9}; Leyland O’Brien 21/3 (late Wednesday); Broken Hill Proprietary 56/(3), Sun Newspapers 8/-. Unofficial: Woolvzorths (Sydney) 90/-. Christchurch, June 6. Unlisted sales on ’Change: Argo Gold 1/5; Procera Bread (vendors’ shares) 12/6,. ■ Sales on ’Change: Commercial Bank of Australia 15/- (3); National Bank of Australasia (£5 paid) £6 3/6; Bank of New Zealand (cum. div.) 51/- (4); Re-

serve Bank of New Zealand (cum div.) £6 14/6; Goidsbrough Mort (cum. div.) 29/5; New Zealand Breweries (cum. div.) 53/7; Anthony Hordern 18/3; Broken Hill Proprietary 56/-, 56/3 (4)- Dunlop Perdriau Rubber 16/6; Kauri Timber' 20/3; Sun Newspapers 8/4 (4), 8/2; Mahakipawa (pref., 1930 issue) 1/-; Maori Gully 1/7} (5); Mossy Creek (cum. div.) 2/8}; Skippers 2}d. Sales reported: Commercial Bank of Australia 15/-, 15/2 (2); National Bank of Australasia (£5 paid) £6 4/6; Bank of New Zealand (cum. div.) 51/- (2); New Zealand Refrigerating (10/- paid) 9/~ (3); Kauri Timber 20/3, 20/4; Mahakipawa B}d; Maori Gully 1/8; Mossy Creek 2/9. Dunedin, June 6. Sales on ’Change: P. and O. (def.) £1 1/- (2); New Zealand Refrigerating (contr.) 9/-; Big River 2/5; Waitahu 2/9. Sales reported: Reserve Bank of New Zealand £6 14/9 (2); Westport Coal £1 1/-; Broken Hill Proprietary £2 16/6 (2); Sun Newspapers 8/4; Big River 2/s}; Mount Lyell 20/-; Woolworths (Sydney) 90/-.

RESERVE BANK. ASSETS AND LIABILITIES. WEEKLY STATEMENT. (Per United Press Association.) Wellington, June 6. 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, June 3: — LIABILITIES.

Proportion of reserve (No. 8 less No. 6) to notes and other demand liabilities, 97.28 per cent. LOCAL MARKETS. Grain and Produce. Oats. —This market is in a strong position and there has been good inquiry for shipment for A and B grade Gartons, also undergrades. Offerings from farmers are on the light side and stocks held by merchants are small. Values to farmers during the past week have run out at 2/8 for A grades and 2/5 for B’s. Good Duns are in demand at up to 3/-.-Wheat. —Milling lines are saleable at the amended prices of 4/2 for Tuscan and Yeoman, 4/4 for Hunters and Montana King, and 4/6 for Velvet. Supplies of fowl wheat to fill local reauirements are still short, but offerings have been made from Canterbury at 4/-, on trucks, country stations. Chaff.—Supplies of chaff are not too plentiful, although some consignments have been coming to hand. At the local range of prices it is impossible to compete for the shipping business, and only a moderate supply is required for the local demand. At the same time further offerings would be welcome. The value to farmers is £4, on trucks, country stations, for good bright quality. Ryegrass.—There is more inquiry for dressed seed for shipment and it seems probable that a certain amount of business will be done in the near future. Offerings from farmers are now very small and it is probable that most of the supplies have now passed into merchants’ hands. The value to farmers is 2/3 to 2/8 according to bushel weight and quality. Potatoes. —There is inquiry for shipment and some business has been done. The value to farmers has been about £4, 10/-, on trucks, country stations, for white varieties of shipping quality, while King Edwards are commanding as much as £5. WINTON STOCK SALE. YESTERDAY’S YARDING. (From Our Correspondent.) Three thousand sheep were yarded at the fortnightly stock sale at Winton yesterday. The offering was comprised mostly of small store lambs, which were fairly difficult to quit owing to the lateness of the season. In the store sheep section ewe lambs realized to 18/6, wether lambs to 10/3 and fair conditioned lambs from 11/- to 13/-, with poorer sorts from 7/- to 9/-. Store six and eight-tooth wethers made from 20/- to 21/1, and failing mouth ewes from 5/to §/-. In the fat sheep section best butchers’ ewes made to 14/-, and freezers to 10/6. There was a mixed yarding of fat lambs forward, the best realizing 20/- for a line of well conditioned lambs, poorer sorts making from 16/- to 18/-, with lighter sorts from 14/- to 16/-. RABBITSKIN SALE. \ The Otago , Farmers’ Co-operative Association of N.Z: Limited report that there was a full bench of buyers at their sale on Wednesday when a large catalogue was submitted. Competition was keen bu l as compared with last sale prices showed an easing tendency. Low grade and secondary lines declined 2d to 3d per lb, while Autumn grades were firm to Id better. Winter skins, of which large quantities are now coming to hand, commanded good competition at prices about a par with last sale. The following is the range of prices: Small 7 i; runners 12}; milky 11} to 17}; summer bucks 19; summer does 13}; light racks 17}; prime racks 18}; dawny autumns 20; 2nd early autumns 24}; early autumns 33; 2nd late autumns 35}; late autumns 46}; autumn bucks 48}, autumn does 21; 2nd incomings 44; Ist incomings 57; 2nd E.W.

bucks 64}; 2nd E.W. does 30}; Ist E.W. bucks 80}; Ist E.W. does 41}; spotty bucks 60; spotty does 29J; 2nd winter bucks 75}; 2nd winter does 35}; Ist winter bucks 87j; Ist winter does 40|; prime bucks 88; prime does 452; out_ going bucks 49; outgoing does 22J; spring bucks 34}; spring does 18.1; summer blacks 11}; rack blacks 13; autumn black 28; late autumn black 30}; E.W. black 40; winter black 39; Ist winter black 48 j; summer fawn 151; autumn fawn 24}; winter fawn 35}; hareskins 17 to 23; horse hair to 18j. 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, 4th inst: Quality poorer, following seasonal conditions. Market dull and inactive, with occasional declines of id to Id for fine teas Medium teas firm—common teas irregular, with decline of }d per lb. dominion rubber. HARVEST FOR MONTH OF MAY. COMPARATIVELY SMALLER CROP. (Per United Press Association.) Dunedin, June 6. The secretary of the Dominion Rubber Company is in receipt of a cable from the estate advising that the crop of rubber harvested for May was 36,0001 b. Last year 52,0001 b was harvested for the same month. , GEAR MEAT. INTERIM DIVIDEND. (Per United Press Association.) Wellington, June 6. The Gear Meat Company has advised the Stock Exchange Association that at a meeting of directors to-day it was decided to declare an interim dividend of 3d per share, payable on June 21. WAIHI GRAND JUNCTION. PROFIT FOR THE YEAR. (Per United Press Association.) Auckland, June 6. The profits of the Waihi Grand Junction Gold Company, Limited, for the year ended December 31, 1934, were £6839, a reduction of £6932. The dividend is unchanged at 4d per share, income tax free, which is equal to 16 2-3 per cent. DAIRY PRODUCE PRICES. The New Zealand Loan and Mercantile Agency Company report having received the following cabled advice from their London office: Butter. — N.Z. choicest salted, 82/-, 83/-; market steady. Cheese, white, 43/-, coloured 43/6. Market quiet. Messrs A. H. Turnbull and Co., Ltd., advise having received a cable from their principals, Messrs W. Weddel and Co., Ltd., dated London, the 4th inst, reading: Danish butter 99/- per cwt.; New Zealand finest 83/-; Kangaroos 81/-. Butter market quiet, but firm. New Zealand cheese, white 43/- per cwt; coloured 44/-. Cheese market dull. SYDNEY STOCK EXCHANGE. (United Press Assn.—Telegraph Copyright.) (Rec. 8.5 p.m.) Sydney, June 6. The Stock Exchange was quiet today mainly owing to the imminence of the new Commonwealth internal loan. Sales:— £ s d

SYDNEY PRODUCE MARKETS. (United Press Assn.— Telegraph Copyright.) (Rec. 8.50 p.m.) Sydney, June 6. Wheat—Country sidings, 2/6}, equal to about 3/1} bulk ex trucks, Sydney. Flour—£ll 5/-. Bran and pollard—£s. Potatoes —Tasmanian to £9 10/-; Victorian varieties, £8 10/-. Onions —Victorian Brown, £lO. Maize—Yellow, 4/2; white, 4/1. ADELAIDE QUOTATIONS. (United ’ Press Assn.— Telegraph Copyright.) (Rec. 8.50 p.m.) Adelaide, June 6. Wheat—Growers’ lots, 3/-. Flour—Bakers’ lots, £ll 12/6. Bran —£5. Pollard —£5 2/6. Oats —Algerian, 1/10. Barley—2/7. METAL QUOTATIONS. (United Press Assn— Telegraph Copyright.) (Rec. 8.50 p.m.) London, June 5. Quotations for metals are as follows: June 4. June 5. £sd £ s d

LONDON MARKETS. The Department of Agriculture has received the following cablegram, dated June 1, from the High Commissioner for New Zealand, London:— Tallow. —Stocks on hand small. Spot market quiet; for shipments market quieter with quotations nominally unchanged. ... Hemp.—Manila: Market firm with fair demand. “K” grade for July-Sep-tember shipment sold at £l3 10/-. Sisal: Market firm with better demand. August-October shipment sold up to £l6 7/6. June-August shipment closing sellers £l6 5/-. New Zealand: Market nominally unchanged; no firsthand sales reported. Fruit.—Port Pirie, Somerset, and Port Bowen shipments discharged in good condition. Apples.—Market steady. Current prices are:—Delicious 11/- to 14/-; Granny Smith, 10/- to 13/-; Dougherty, 11/- to 12/6; Yates and Jonathan, 10/- to 12/-; Scarlet Nonpareil,

Pioneer, Sturmer, Statesman and Rokewood, 10/- to 11/6; Ballarat, Rome Beauty, Dunn’s Favourite, 10/- to 11/-; Lord Wolseley and London Pippin, 8/6 to 10/-. Pears.—Better demand. Winter Nelis, 11/6 to 13/-; Winter Cole and Packham’s Triumph, 8/- to 9/6. Peas.—Maples: Fair business done. New Zealand—afloat sold at from 50/to 53/6 according to quality; forward shipments offer limited; May-June shipment quoted at 54/-; value 52/6. “A” grade Tasmania for May-June shipment sold up to 54/-; afloat—offered at 53/6; value 52/6. Blues: Better inquiry for Japanese; no business reported for Tasmanian. THE PRICE OF GOLD. (United Press Assn.—Telegraph Copyright.) London, June 5. The price of gold is £7 1/2} per fine ounce. NEW GUINEA SHARES. (United Press Assn.—Telegraph Copyright.) London, June 5. New Guinea gold shares are quoted at 4/4}.

£ s d 1. Paid-up capital 500,000 0 0 2. General reserve fund 1,000,000 0 0 3. Bank notes 9,278,759 10 0 4. Demand liabilities— (a) State 12,836,272 11 2 (b) Banks 3,794,834 7 7 (c) Other 13,108 0 6 OTime deposits 6. Liabilities in currencies other than New Zealand currency 7. Other liabilities 87,903 15 5 Total £27,510.878 4 8 ASSETS. £ s d 8. Reserve — (a) Gold 2,801,731 0 0 (b) Sterling exchange 22.418,369 6 6 (c) Gold exchange 9. Subsidiary coin 151,370 19 3 1U. Discounts— (a) Commercial and agricultural bills (b) Treasury and local body bills 11. Advances — (a) To the State or to State undertakings VW (b) To other public authorities (c) Other 12. Investments 2,094,075 0 0 13. Bank Buildings 14. Other assets 45,331 18 11 Total £27,510,878 4 8

Bank of New South Wales 31 0 0 National Bank (£5 paid) 6 3 6 Bank of Australasia 11 5 0 Queensland National Bank 4 18 0 Colonial Sugar 41 17 6 Associated Newspapers 1 3 0 Associated Newspapers (pref.) 1 4 Australian Gas (A) 8 1 6" British Tobacco 1 18 6 Tooth’s 2 12 6 Goldsbrough Mort 1 10 1’1 Winchcombe Carson 1 8 0 Henry Jones 1 16 3 Lustre Hosiery 1 6 6 General Industries 17 lOj General Industries (pref.) 1 4 3 Metropolitan Gas 13 16 0 Broken Hill Pty. 2 16 9 South Broken Hill 4 8 6 North Broken Hill 6 10 0 Rawang 7 5 Melbourne Sales. Commercial Bank of Australia 15 0 Herald and Times 2 17 0 Mt. Lyell 1 0 0

Coppei- — Standard spot 31 18 U U 32 11 10| Forward 32 4 32 18 1* Electrolytic to 35 36 0 0 0 0 36 36 0 10 0 0 Wire Bars American 36 0 0 36 10 0 Lead— Spot 13 13 9 13 1 3 Forward 13 16 3 13 1 3 Spelter— Spot ■Forward 14 14 0 6 0 3 14 14 0 5 0 0 Tin — Spot 226 16 3 226 5 0 Forward Silver — 221 7 6 220 12 6 Fine, per oz. 32Jd 33 l-16d Standard, per oz. 35 l-16d 35 ll-16d