COMMERCIAL

Southland Times, Issue 25311, 14 June 1935, Page 2

COMMERCIAL

INVERCARGILL STOCK. EXCHANGE. YESTERDAY’S QUOTATIONS. At a meeting of the Invercargill Stock Exchange yesterday morning the following prices were quoted:

Sales Reported. Stock, 1946, 4 per cent., £lO7 10/-. Stock, 1940, 4 per cent., £lO3 2/6. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, June 13. Sales on ’Change: Stock, 1940, 4 per cent., £102; Stock, 1955, 4 per cent., £ll2 15/-; Bank of New Zealand 50/10 (2); Taupiri Coal 16/8; Westport Coal 20/11; Burns Philp 61/-; Bycroft 52/-; New Zealand Newspapers 38/6; New Zealand Refrigerating (£1 paid) 19/9; Wairakei 5/-; Wilson’s Cement 38/-; Big River 2/3; Mataki 1/5; Skippers 2|d. Unofficial: Berlei (New Zealand) 45/(2). Wellington, June 13. Sales on ’Change: Inscribed Stock, 3J pqr cent., 1938-1952, £lO7 5/—; Inscribed Stock, 4 per cent., 1940, £lO3 (late

Wednesday); Inscribed Stock, 4 per cent, 1946, £lOB, £lOB 5/-; Inscribed Stock, 4 per cent, 1949, £lOB 5/-; Bank of New Zealand 50/10, 50/11; New Zealand Refrigerating (cont.) 8/11; Timaru Brewery (cont.) 8/4 (2); Northern Roller Mills 34/-; Big River 2/2J (late Wednesday), 2/3. Unofficial: Procera Bread (vendors) 19/6; Procera Bread (ord.) 17/3, 18/-1 Christchurch, June 13. Unlisted sale of ’Change: Procera Bread (10/- paid) 18/6. Sales on ’Change: Goldsbrough Mort (cum. div.) 29/7 (3); New Zealand Refrigerating (10/- paid) 8/11 (3); Tooth’s Brewery 52/3; Anthony Hordern 18/9; Broken Hill Proprietary 55/10; Quill, Morris (in liquidation) 4/10; Maori Gully 1/5; Mount Lyell 19/8; Skippers 2Jd (4); Waihl 37/-. Sales reported: New Zealand Government 4 per cent. Inscribed, 19371940, £103; New Zealand Government 4 per cent. Bonds, 1937-1940, £103; Reserve Bank of New Zealand £6 10/-; Kauri Timber 20/3; Mahakipawa 8d; Skippers 2jd (2). Dunedin, June 13. Sale op ’Change: Union Bank £9 2/-. Sales reported: Westport Coal £1 1/- (2); Mount Morgan £1 16/- (2) (both late Wednesday); Otago Daily Times £2 8/6; Mount Lyell £1 0/2; Oxenbridge sd; Stock, 4 per cent, 1946, £lO7 10/-.

• f RESERVE BANK. ASSETS AND LIABILITIES. WEEKLY STATEMENT. (Per United Press Association.) Wellington, June 13. 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 RELIABILITIES.

Proportion of reserve (No. 8 less No. 6) to notes and other demand liabilities, 97.25 per cent. SYDNEY STOCK EXCHANGE. COMMONWEALTH BONDS FIRM! (United Press Assn.—Telegraph Copyright.) (Rec. 8 p.m.) Sydney, June 13. On the Stock Exchange to-day investment price variations were fairly evenly distributed between rises and falls. Commonwealth Bonds were firm.

GOLDSBROUGH MORT. PROFIT FOR YEAR. (Per United Press Association.) Wellington, June 13. A cable from Goldsbrough Mort reads: Th? net profit to March 31 last is £lOl,lBB. Brought forward from last year was £177,188, making £278,376, less an interim dividend of two per cent in December last totalling £48,000. The directors recommend a final dividend of four per cent., which will take £96,000, which, with the interim dividend, makes the total distribution six per cent, for the year. It is proposed to transfer to the Provident Fund £3OOO and carry forward £131,376.

BOOM IN STEEL SHARES. RESULT OF AGREEMENT. (United Press Assn.—Telegraph Copyright.) (Rec. 715 p.m.) London, June 12. The Daily Express says that iron and steel shares, for many years the cinderellas of the market, blazed up on news of the steel cartel agreement Boom conditions prevailed, and the values of the ordinary shares of sixteen of the leading British iron and steel firms increased on paper by £2,000,000. WYNDHAM STOCK SALE. Messrs Dalgety and Co, Ltd, report.—The sheep entry consisted of fat lambs, there being no store sheep yarded. The lamb sale was an erratic one, some pens sold well up to schedule rates, while others were not in demand. There was a very small entry of cattle, the fat section comprising medium quality cows. These showed an improvement on late sales, the supply being not equal to the demand. We sold:' Fat Lambs:—7 at 21/9, 19 at 19/-, 18 at 18/6, 24 at 17/3, 45 at 17/-, 10 fat ewes at 9/-, 7 wethers at 21/-, 8 at 20/-; 1 dairy cow at £5 7/6, fat cows £4, £3 15/-, £3 12/6, £3 10/-, £3 5/-, £3, £2, £1 17/6. Store cows £l, 15/-. Pigs: 18/6, 16/-. lIORSESALE. AUCTION AT LUMSDEN. RECENT PRICES MAINTAINED. (From Our Correspondent.) Messrs Dalgety and Company conducted a sale of horses, at Lumsden yesterday, effecting a fair clearance of the 30 horses entered. Prices were on a par with those obtained at recent sales, the top price of £55 being paid for a five-year-old gelding sold on account of Mr William Young, of Mossburn. Other prices were as follows: —Six-year-old gelding, £42 10/-; four-year-old gelding, £34 10/-; nine-year-old gelding, £3B; five-year-old gelding, £4O; six-year-old gelding, £32 10/-; three-vear-old gelding, £42; four-year-old mare, £24 10/-; eight-year-old mare, £25; aged gelding, £2l 10/-; five-year-old mare, £34; nine-year-old mare, with foal, £27; aged mare, £18; five-year-old mare, £45; thoroughbred colt, £7; two-year-old trotting gelding, £2O; three-year-old trotting gelding, £l5; other hacks, £4 10/- to £6 15/-. COLOMBO TEA SALE. Messrs J. Rattray and Son, Ltd., report having received the following cabled report of the tea auction held in Colombo on Tuesday, the 11th inst.: Medium quality offering. Market firm for common teas, with advance of Id per lb. Fine kinds steady and unchanged. DAIRY PRODUCE PRICES. Mr G. Blaxall reports having received the following cable dated June 12, 1935, from Messrs Lovell and Christmas, Ltd.: Butter.—Finest 86/-. Market firm. Cheese.—White 43/6; coloured 44/-. Market slow. The New Zealand Loan and Mercantile Agency Company report having received the following cabled advice from their London office:—Butter—N.Z. choicest salted 85/-, 86/-. Market firm. Cheese—White 43/6, 44/-; coloured 44/-. Market is steady. SYDNEY WOOL SALES. MARKET CLOSES FIRM. (United Press Assn.— Telegraph Copyright.) (Rec. 8.15 p.m.) Sydney, June 13. At the wool sales 6684 bales were offered and 5632 sold, also 774 privately. The market closed firm with prices equal to the best point of the series. There was an insistent demand for good spinning descriptions. Greasy Merino made to 203 d. SYDNEY PRODUCE MARKETS. (United Press Assn.— Telegraph Copyright.) (Rec. 8.20 p.m.) Sydney, June 13. Wheat—The market is dull. Quotations: Country sidings, 2/6 J, equal to about 3/1J for bagged and 3/2 for bulk, ex trucks, Sydney. Flour—£ll 5/-. Bran and pollard—£s. . Potatoes —Tasmanian, £l2; Victorian to £9 10/-. Onions—Victorian BroWn, £ll. Maize —3/2. ADELAIDE QUOTATIONS. (United Press Assn. —Telegraph Copyright.) (Rec. 8.20 p.m.) Adelaide, June 13.' Wheat—Growers’ lots, 3/-. Flour—Bakers’ lots, £ll 12/6. Bran—£s. Pollard—£s 2/6. Oats—Algerian to 1/10. Barley—2/7. " METAL QUOTATIONS. (United Press Assn.—Telegraph Copyright.) (Rec. 8 p.m.) London, June 12. Quotations for metals are as follows: June 11. June 12. £ s. d. £ s. d.

Buyers. £ s id Sellers. 1 £ s d Stock, 3J p.c., 1938-43 105 0 0 Stock, 34 p.c., 1938-52 106 0 0 ■’ '■■■■■IM Stock, 3J p.c., 1939-43 105 0 0 - Stock, 3i p.c., 1939-52 106 0 0 HI— Sfoclr 4 r> n 1040 103 10 0 Bonds, 4 p.c., 1940 103 10 0 Stock, 4 p.c., 1946 107.10 0 ■ — Bonds, 4 p.c., 1946 107 10 0 — —— Stock, 4 p.c., 1949 108 0 0 Bonds, 4 p.c., 1949 .108 0 0 Stock, 4 p.c., 1955 112, 0 0 Bonds, 4 p.c., 1955 112 0 0 ______ Banks. Commercial 0 15 0 0 15 4 Commercial, pref., 4 p.c. cum. 9 12 6 Commercial of Sydney 18 0 0 E.S. and A. Bank 5 0 0 ———- National of Australia .600 — National of New Zealand 3 7 0 3 8 3 New Zealand — 2 11 3 New Zealand Long “D” issue _______ 1 14 3 Reserve Bank of New Zealand 6 8 6 6 10 6 Union of Australia 9 0 0 — Breweries. N.Z. Breweries (Shares) 2 12 6 2 14 0 Staples’ Brewery 1 12 9 ■ • — Coal. Kaitangata ■■ 110 Westport Coal 10 9 113 Insurance. National — 113 Loan and Agency. National Mortgage, “B” issue 1 11 0 Wright, Stephenson and Co. pref. 0 19 3 19 9 Meat Companies. N.Z. Refrigerating (20/- paid) ■ 10 6 (10/- paid) -1 0 9 0 Southland Frozen Meat (£1 ord.) ■ 1 II 1 3 16 6 (£1 pref.) — 3 16 6 South Otago Freez ing Co. 6 13 0 — Shipping. Union Steam Ship Co. (pref.) 17 0 Miscellaneous. Associated News 12 6 — Australian Glass 3 8 0 — Australian Iron and Steel 12 3 — British Tobacco (Aust.) — —- 1 19 3 Colonial Sugar Co. . —.... I—1« 42 0 0 Dominion Fertilizer 113 -t Dominion Rubber Co. 1 10 0 Donaghy’s Rope and Twine 2 11 0 Dunlop Rubber (Aust.) * 11 1 * 16 5 Milburn Lime and Cement 2 4 0 — ■ '■■■ N.Z. Drug 4 2 0 —— N.Z. Paper Mills 1 14 0 1 15 0 Woolworth’s (Sydney) t 1 9 0 4 11 0 Australian Cement 18 6 - Mortgage Corporation 0 19 ———IIWoollen Mills. Bruce 14 0 Wellington Woollens (pref.) 6 0 0 - — Mining. Bendigo Goldlight 0 0 10 0 10 Broken Hill ■ I • 2 17 0 Big River 0 2 3 0 2 6 Electrolytic Zinc (ord.) . ■ II' ■ 17 0 (pref.) 1 15 0 ■ — Gillespie’s Beach 0 15 0 1 6J Goldfields Dredging ■ — 0 0 3} Kildare 0 3 6 King Solomon 0 3 10 0 4 0 Mount Lyell 10 6 Mt. Morgan - 1 16 6 Nokomai 0 2 6 Okarito 0 6 0 Skippers ( ) 0 1 0 0 3 Waihi Gold Mining — 1 18 0 Waitahu 0 3 0 —

£ s. d. 1. Paid-up capital 500,000 0 0 2. General reserve fund 1,000.000 0 0 3. Bank notes 9,194,570 10 0 4. Demand liabilities— (a) State 13,322,391 0 4 (b) Banks 3,632,959 14 1 (c) Other 41,375 15 10 5. Time deposits 6. Liabilities in currencies other than New Zealand currency 7. Other liabilities 55,850 10 11 Total £27,747,147 11 2 ASSETS. £ s. d. 8. Reserve— (a) Gold 2,801,731 0 0 (b) Sterling exchange 22,669,565 2 9 (c) Gold exchange 9. Subsidiary coin 150,363" 8 2 10. Discounts— (a) Commercial and agricultural bills (b) Treasury and local body bills —»l ■ 11. Advances— (a) To the State or to State undertakings —— (b) To other public authorities (c) Other 12. Investments 2,094,075 0 0 13. Bank buildings 14. Other assets 31,413 0 3 Total £27.747,147 11 2

Sales: — £ s. d. Bank of New South Wales 31 10 0 Union Bank 9 0 0 Colonial Sugar 42 5 0 Associated Newspapers 1 3 41 Howard Smith 14 8 Burns Philp 3 3 0 Australian Gas (a) 8 10 British Tobacco 1 19 3 Tooth’s 2 13 0 Toohey’s 1 9 4J Henry Jones 1 16 3 Millaquin Sugar 1 13 6 David Jones 2 0 6 Anthony Hordern 19 0 Meggitts 116 G. J. Coles 3 9 3 General Industries 17 101 Drug Houses of Australia 16 6 Mt. Morgan 1 16 11 Mt. Lyell 19 10J Broken Hill Pty. 2 16 9 South Broken Hill 4 8 0 Larut 11 4 Malim Nawar 15 6 ■ I MELBOURNE SALES. ■1II .. 1 Metropolitan Gas 14 4 0 Gordon and Gotch 2 6 0 G. J. Coles 3 8 9 Mt. Lyell 19 9

Copper— Standard spot 31 15 n 31 18 9 Forward 32 3 32 6 10?, Electrolytic 35 0 0 35 0 0 to 35 10 0 35 10 0 Wire Bars 35 10 0 35 10 0 American Lead— Spot 13 15 0 14 0 0 Forward 13 13 9 14 0 0 Spelter— Spot 13 12 6 14 0 0 Forward 13 16 3 14 3 9 Tin— Spot 223 12 6 224 7 6 Forward 217 5 0 218 12 6 Silver— Fine, per oz 33 3-16d 32 13-16d Standard, per OZ. 35 13-16d 35 7-16d