COMMERCIAL

Southland Times, Issue 25309, 12 June 1935, 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 £lO5. Government Stock, 3J per cent., 193852: b £lO6. Government Stock, 3J per cent., 193943: b £lO5. ■ Government Stock, 3 J per cent., 193952: b £lO6. Government Stock, 4 per cent., 1940: b £lO2 10/-. * Government Bonds, 4 per cent., 1940: b £lO2 10/-. „ 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: b 15/-, s 15/3. National of New Zealand: s 68/3. New Zealand: b 50/9. New Zealand Long “D’ issue: s 34/3. Reserve Bank of New Zealand: s £6 10/6. Union of Australia: b £9, s £9 5/-. Breweries. Dunedin Brewery Co.: s 30/-. New Zealand Breweries (shares): b 52/6, s 54/-. Staples’ Brewery: b 32/9. Timaru Brewery: b 7/10, s 8/2. Coal. Kaitangata: s 20/9. Westport Coal: b 20/9, s 21/3. Insurance. National: s 21/3. Standard: b 72/-, s 73/6. Loan and Agency. Wright, Stephenson and Co, (pref): b 19/3. Meat Companies. National Mortgage: b 51/-, s 55/-. N.Z. Refrigerating (20/- paid): s 20/4; (10/- paid): s 9/-. Southland Frozen Meat (£1 ord.): s 76/6, (£1 pref.): s 76/6. South Otago Freezing Co.: b £6 13/-. Shipping. Union Steam Ship Co., (pref.): b 27/-. Miscellaneous. Associated News: b 22/6. Australian Iron and Steel: b 22/6. British Tobacco (Aust.): b 38/-, s 39/-. Colonial Sugar Co.: s £42. D.I.C. (ord.): b 15/-. Dominion Fertilizer: b 21/-. Dominion Rubber Co.: s 30/-. Donaghy’s Rope and Twine: b 50/-. Dunlop Rubber (Aust.): s 16/8. Milburn Lime and Cement: b 44/-. New Zealand. Drug: b 82/-. Woolworths’ (Sydney): b 89/-, s 91/-. Woollen Mills. Bruce: s 14/-. Kaiapoi (ord.): s 15/3. Wellington Woollens (pref.): b £6. Mining. Bell Hopper: s 2d. Bendigo Goldlight: s llld. Broken Hill: b 56/-, s 57/-. Big River: s 2/5. Electrolytic Zinc (pref.): b 34/-. Gillespie’s Beach: b 1/5, s 1/6. Goldfields Dredging: s 4d. Kildare: b 3/1, s 3/6. King Solomon: s 4/1. Mount Lyell: b 19/10, s 20/6. Mount Morgans: s 36/6. Nokomai: b 1/-, s 2/6. Waitahu: b 3/-. Maori Gully: s 1/8. Sales Reported. 1949, Inscribed Stock, 4 per cent., £lO3 lO1955, Inscribed Stock, 4 per cent., £ll2 10/-. ■ NORTHERN EXCHANGES. (Per United Press Association.) Auckland, June 11. Sales on ’Change: Stock, 1949, 4 per cent., £lOB 10/-; Stock, 1955, 4 per cent., £ll2 15/- (2); Takapuna Borough, 1960, 5J per cent., £109; Bank of New South Wales £3O 15/-; Bank of New Zealand 50/10 (3); Renown Colleries 10/-; Dominion Breweries 15/—; New Zealand Refrigerating (10/paid) 8/10; Gillespie’s Beach 1/6; Waihi 38/-; Farmers’ Trading 7/-. Unofficial: Woolworths (Sydney) 89/6; Alluvial Holding 1/6 (2). Wellington, June 11. - Sales on ’Change: Inscribed Stock, 34 per cent., 1938-1952, £lO7 5/-; Inscribed Stock, 4 per cent., 1949, £lOB 7/6; Bank of New South Wales £3O 17/6; Bank of New Zealand 50/10; Reserve Bank £6 9/9; National Insurance 21/-; Wellington Woollen (ord.) £6 16/-; D.I.C. (pref.) 25/6; New Zealand Drug 82/6; Skippers.2Jd (late Monday), 23 d.

Unofficial: Woolworths (Sydney) '9O/(2). Christchurch, June 11. Sales on ’Change: Goldsbrough Mort (cum div.) 21/6; New Zealand Refrigerating (10/- paid) 8/10 (2); Australian Glass (cum div.) 68/3; Australian Iron and Steel (pref.) 22/4; Broken Hui Proprietary 56/-, 55/11; Colonial Sugar £4l 10/- (2); Dunlop Perdriau Rubber 16/5(2), 16/3; Gillespie’s Beach 1/6 (4); Mount Lyell 20/- (2). Sales reported: Commercial Bank of Australia 15/3 (2); Bank of New Zealand (cum div.) 50/11; Canterbury Frozen Meat (ord.) £9 10/-; Australian Glass (cum div.) 68/-; Skippers 3d. Unlisted sales on ’Change: Argo Gold (ex rights) 13/-. Dunedin, June 11. Sales reported: Bank of New Zealand £2 10/- (late Monday), £2 10/10 (both cum. div.); Commercial Bank of Sydney £l7 11/-; Stock, 4 per cent., 1949, £lOB 10/-.

LORNEVILLE STOCK SALE. FAT CATTLE A SHADE FIRMER. In adverse conditions the weekly sale of stock was carried out at Lorneville yesterday in the presence of a fair attendance of buyers. Intermittent hail squalls and snow storms made buyers anything but keen and the sale for the most part was on a par with late ruling rates. The yardings on the whole were much larger than last week. Fat cattle showed a slight improvement on last week’s rates. Following is a comparative table of yardings for the past two sales:— June 11. June 4. Store cattle 186 110 Fat cattle 180 120 Store sheep 587 362 Fat sheep 1645 501 Yesterday’s yardings included 456 fat lambs, 4 dairy cows and 8 vealers. Store Cattle. —The quality of the yarding was much better than has been the case for many sales past. Practically the total entry comprised good well-bred steers and there was an improved tone about the market. Good three-year-old steers sold up to £4 14/-, and a line of 24-year-old steers made £3 15/-. A pen of yearling steers in poor condition brought £1 7/6. Empty cows and heifers met with a poor sale, prices ranging from 10/- to £1 8/ - , f . Store Sheep.—There was a fair entry of store sheep, but prices showed little improvement on the previous sale. Fat Sheep.—The bulk of the yarding was comprised of ewes of fair to medium quality, with only a few outstanding pens. There were very few wethers yarded and none of these were better than medium. Prime medium wethers made up to 25/6, medium from 20/- to 22/-; prime heavy ewes 16/9; prime medium 12/6 to 14/-; with freezing sorts round about 10/6. The bulk of the lambs were of ordinary quality, the top price being 25/3 for a pen of butchers’ lambs. Good freezing lambs made from 20/- to 22/-, while lighter sorts realized from 16/- to 17/Fat Cattle.—There were few good quality sorts forward, but for best quality there was a slightly improved market. Prime handyweight bullocks realized from £7 5/- to £7 17/6; lighter sorts, £6 5/- to £6 15/-; unfinished sorts, £4 5/- to £5 5/-; extra prime heifers, up to £6 7/6; prime quality, £4 15/- to £5 15/-; unfinished, £2 12/6 to £3 5/-; extra prime heavy cows, up to £6 2/6; prime quality, £5 to £5 10/-; good quality, £4 to £4 15/-; medium weights, £2 5/to £3 10/-; unfinished down to 30/-. GORE STOCK SALE. A small entry was forward at the fortnightly Gore stock sale yesterday and the demand for fat stock was keen, with prices firm. Prime heavy wethers realized up to 24/6, with medium to heavy from 20/- to 22/- and lighter weights down to 18/6. Ewe lambs sold at 16/6 and a pen of breeding ewes at 11/4. Prime heavy bullocks sold up to £6 15/-, with medium weights at from £4 15/- to £5 10/-. Sales were:— , „ , Dalgety and Co., Ltd.: 3 fat bullocks £6 10/-, 3 do. £6 5/-, 3 do. £6 15/-, 3 do. £6 15/-, 20 fat wethers 20/-. Passed in: 35 fat wethers 22/-. Wright, Stephenson and Co., Ltd.: 4 fat bullocks £4 10/-, 2 do. £4 15/-, 2 do. £4 5/-., Passed in: 3 heifers, 39 lambs 18/-. National Mortgage and Agency Co., Ltd.: 20 failing mouth ewes 11/4, 29 ewe lambs 16/6. Henderson, Reid, Ltd., offered and passed in: 15 fat ewes 10/9, 61 do. 10/6. Southland Farmers’ Co-op. Assn., Ltd.: Empty cow 5/-, 14 fat wethers 24/6, 9 do. 21/-, 8 fat 2-tooth ewes 19/-, 8 fat wethers 18/6. GRAIN REPORT. Messrs Donald Reid and Co., Ltd., Dunedin, report as follows: Milling Wheat.—The advance prices to farmers for the month of June are as follows: Tuscan, 4/2, f.0.b.; Hunters, 4/4; Velvet, 4/6. Very little business passing as the bulk of the season’s offerings is now in millers’ hands. The fowl wheat market remains firm, with stocks on the short side. Merchants are now drawing their supplies from Canterbury. Good quality is quoted at

4/8 per bushel, sacks extra ex trucks. For small lots ex store, up to 5/- P er bushel, sacks extra, is being realized. Oats.—The market continues firm, with stocks in store considerably lighter than has been the case for a number of years. There are practically no offerings from the country. For shipment, A Gartons are quoted at 3/4 per bushel and B Gartons 3/1 per bushel, f.0.b., sacks in. The value of these grades at farmers’ sidings is 2/10 for A’s and 2/7 for B’s, sacks extra. Chaff.—There is a steady demand for prime quality. Sales are mostly confined to ex store lots at £5 10/- per ton, sacks extra. For truck lots, £5 per ton, sacks extra, ex truck, is quoted. Medium and inferior lines the difficult to place a* prices ranging from £3 10/— per ton. . Straw chaff is quoted at £3 ex truck. . Potatoes.—Best quality Arran Chief are selling at £5 10/- per ton ex store and King Edwards at £6. The main inquiry is for prime quality; blighted and poorly graded lines being difficult to place at reduced rates. MINING REPORTS. OKARITO RETURN. (Per United Press Association.) Dunedin, June 11. The Okarito return is 32 ounces 1 dwt. for 118 hours work. AMERICAN WINTER WHEAT CROP. (United Press Assn.—Telegraph Copyright.) Washington, June 10. The winter wheat crop is estimated at 442,000,000 bushels, being based on the conditions existing at June Ist. LONDON MARKETS. The Department of Agriculture has received the following cablegram, dated June 8, from the High Commissioner for New Zealand, London:— Tallow: Market quiet but steady at about last quotations. Hemp: Manila: Market quiet and easier. Closing sellers for June-August shipment £l3 5/-. Sisal: Market steady, with demand quieter. July-September shipment sold at £l6 2/6 and August-October shipment at £l6 5/-. New Zealand: Nothing to report. Fruit: No arrivals this week. Apples: Market steady. . Trade in Sturmcrs slow. Current prices are:— Jonathan, Delicious, Dougherty, Granny Smith and Yates, 10/- to 13/-; Rome Beauty, Statesman and Rokewood, 10/to 12/-; Sturmer, 10/- to 11/6; Scarlet Nonpareil, Pioneer and Tasma, 10/- to 11/-; London Pippin, Cleopatra, Dunn’s Favourite and Ballarat, 10/- to 10/6. Pears: Better demand owing to limited supplies. Balance Zealandic shipment of Winter Nelis 11/6 to 14/-; and Winter Cole 9/- to 10/6. FOREIGN EXCHANGES. ON NEW ZEALAND CURRENCY BASIS. The Bank of Nev/ South Wales quoted the following rates for its purchases and sales on overseas currencies yesterday (all rates subjected to alteration without notice:— New Zealand , „ On Buying Selling London—£N.Z. to £loostg. T.T. 124 124/10/OJ3. 123/10/- 124/8/9 A £A al to”filOO N.Z. T.T. 101 100/10/O.D. 101 100/10/-

SYDNEY STOCK EXCHANGE. (United Press Assn.—Telegraph Copyright.) (Rec. 8 p.m.) Sydney, June 11. The Stock Exchange displayed increased activity to-day concurrently with the opening of the new loan campaign, but industrial shares moved irregularly. Sales:—

SYDNEY WOOL SALES. STRONG COMPETITION. (United Press Assn.—Telegraph Copyright.) (Rec. 9.15 p.m.) Sydney, June 11. At the wool sales 10,530 bales were offered and 8579 sold, also 1564 privately. There was very strong competition, particularly from Japanese and German sections. The market reflected fully all the best features of the previous day’s auctions. Greasy Merino made to 18Jd. ASPRO LIMITED. The issue of 500,000 preference shares in Aspro, Limited, in London, has been heavily over-subscribed. The lists were closed within five minutes. The company has been registered in London with a capital of 500,000 £1 preference shares and 2,000,000 ordinary shares of 5/- each, to take over the property and assets comprised in an agreement with A. and G. Nicholas. Ltd., manufacturers of medicinal preparations. The preference shares were offered to the public at 21/- each, and of the ordinary shares 500,000 have been sold privately.

Fiji— £F to £100 NZ. T.T. 90/7/6 90/7/6 89 89 O.D. New York— 3.983 3.94J Dollars to £1 N.Z. T.T. Montreal— O.D. 4.00 3.954 Dollars to £1 N.Z. T.T. 3.99J 3.954 France— *’ O.D. 4.003 3.95J Francs to £1 N.Z. T.T. 60.38 59.08 Noumea— O.D. 60.68 59.13 Francs to £1 N.Z. T.T. 61.33 58.33 O.D. 61.73 58 38 Papeete— Francs to £1 N.Z. T.T. 61.33 58.33 Belgium— O.D. 61.73 58.33 Belgas to £1 N.Z. Germany— Reichmarks to £1 T.T. O.D. 22.950 22.965 N.Z. T.T.. 9 546 Italy— O.D. — 9.551 Lire to £1 N.Z. T.T. — 47.14 Switzerland— O.D. — 47.18 Francs to £1 N.Z. T.T. 32.293 11.893 Holland— O.D. 12.368 11.903 Florins to £1 N.Z. T.T. 5.966 5.716 Java— O.D. 6 016 5.720 Florins to £1 N.Z. T.T. 5.915 5.690 Japan— N.Z. pence to 1 O.D. 5 965 5.694 yen T.T. — 17 13/16 Shanghai— N.Z. pence to 1 O.D. — dollar T.T. 23 7-8 25 3-16 India and Ceylon— N.Z. pence to 1 O.D. 23 3-4 25 1-8 rupee T.T. 22 3-8 22 23-32 Hong Kong— N.Z. pence to 1 O.D. 22 1-4 22 21-32 dollar T.T. 34 17-32 1 35 19-32 Singapore— N.Z. pence to 1 O.D. 34 13-32 i 35 17-32 dollar T.T. 34 9-32 35 7-32 Sweden—. O.D. 31 5-32 35 5-32 Kroner to £1 N.Z. T.T. 15.790 15.460 Norway— O.D. 15.830 15.470 Kroner to £1 N.Z. T.T. 16.200 15.870 Denmark— O.D. 16.240 15.880 Kroner to £1 N.Z. T.T. 18.208 17.878 Austria— Schillings to £1 O.D. 18.248 17.888 N.Z. T.T. — 20.63 Czechoslovakia— O.D. — 20.65 Crowns to £1 N.Z. T.T. — 94.13 O.D. — 94.18

£ s d Bank of New South Wales 31 12 6 Colonial Sugar 42 0 0 Australian Provincial Assurance 1 1 9 United Insurance 11 10 0 Associated Newspapers 1 3 44 Associated Newspapers) (pref.) 1 4 9 Tooth’s 2 12 9 Huddart Parker 1 18 0 Gordon and Gotch 2 7 6 General Industries 17 9 Winchcombe Carson 1 6 3

Morris Hedstrom 1 8 6 Anthony Hordern 18 9 Henry Jones 1 16 3 Rawang Tin 7 5 Larut Tin 11 5 Commonwealth Bonds (4 per cents.) — 1938 104 1 3 1941 103 10 0 1953 106 17 6 1955 106 7 6 1959 105 7 6 1961 106 5 0 Melbourne Sales. National Bank (£10 paid) 14 17 0 Union Bank 9 10 0 Commercial Bank of Australia 15 0 Metropolitan Gas 14 3 0 Goldsbrough Mort 1 10 3