COMMERCIAL

Southland Times, Issue 25315, 19 June 1935, Page 2

COMMERCIAL

INVERCARGILL STOCK EXCHANGE. YESTERDAY’S CALLOVER. At a meeting of the Invercargill Stock Exchange yesterday the following prices were recorded:— Government Debentures.

NORTHERN EXCHANGES. (Per United Press Association.) Auckland, June 18. Sales on ’Change: Stock, 1939-43', 3J per cent., £lO5 5/-; Auckland City 1944-1963, 4J per cent., £lO6 10/-; Bank of Australasia £ll 1/-; Commercial Bank of Australia 15/5; Australian Provincial Assurance 21/3; New Zea-

land Insurance 68/3; Dominion Investment and Banking 16/6; North Auckland Farmers (B pref.) 6/3 (2); United Building (Auckland) 20/4; New Zealand breweries 52/3; British Tobacco 38/9; Colonial Sugar £42 2/6, £42 10/-; Farmers’ Trading 7/3; Milne and Choyne 16/3; New Zealand Newspapers 38/6, 38/7, 38/9; Sun Newspapers 8/2; Wilson’s Cement 39/-; Golden Dawn 2/3; Mataki 1/6; Waihi 37/-. Unofficial: Berlei (New Zealand) 45/6; Procera Bread (10/- paid) 23/-; Woolworths (Sydney) 91/3. Wellington, June 18. Sales on ’Change: Inscribed Stock, 4 per cent., 1940, £lO3 5/- (late Monday); Inscribed Stock, 4 per cent., 1946, £lOB 5/-; Bank of Australasia £ll (2); Bank of New Zealand 49/10; Consolidated Brick 9/3; Woolworths (New Zealand) £ll 10/-; Big River 2/2; Maori Gully 1/2|; Mount Morgan 36/9. Unofficial: Woolworths (Sydney) 90/9 (2) (late Monday), 91/6. Christchurch, June 18. Unlisted sales on ’Change: Procera Bread (10/- paid) 23/-, 23/6; Orion Reef Syndicate (£lO paid) £2O. Sales on ’Change: Bank of Australasia £ll 1/-; Commercial Bank of Australia 15/6 (2); Bank of New South Wales £3O 17/6; Bank of New Zealand 49/11 (2); Reserve Bank of New Zealand £6 9/6 (2); Goldsbrough Mort (cum., div.) 29/2, 29/1, 29/2; New Zealand Breweries (cum'diy.) 52/4 (2); Australian Glass (cum. div.) 68/1; Kildare 3/2; Maori Gully 1/2J (4), 1/3; Mossy Creek (cum. div.) 2/SJ. Sales reported: New Zealand Government 31 per cent. Inscribed, 19381952, £lO7~lO/~; Sun Newspapers 8/2. Dunedin, June 18. Sale on ’Change: New Zealand Refrigerating (cont.) 8/10. Sales reported: Bendigo Goldught llid (late Monday); Bank of Australasia £ll 1/-; P. and O. (def.) £1 1/2; Associated News £1 3/6; National Electric 10/6; Wilson’s Cement £1 18/7; Mount Morgan £1 16/3 (2).

LORNEVILLE STOCK SALE. FAT VALUES MUCH THE SAME. Miserable weather conditions had their effect on the sale of stock at the Lorneville yards yesterday, consequently competition was not very keen, and in both fat sections, sheep and cattle, there was practically no change in the values ruling at the last sale. The yardings all round were smaller than those of last week. Following is a comparative table of yardings for the past two sales:— June 18 June 11 Store cattle 69 158 Fat cattle 141 172 Store sheep 493 645 Fat sheep 1358 1551 Yesterday’s yardings included 445 fat lambs 13 dairy cows, and 3 vealers. STORE CATTLE.—There -was a very small yarding in this section, which was comprised mostly of empty cows, there being nothing outstanding offered. There were no steers of outstanding quality, but one pen of good young steers made £2 10/-. Good speyed empty cows realized from £1 2/- to £1 10/-. Poor conditioned sorts sold from 8/- to 12/6. Dairy cows were neglected and practically the whole of the yarding was passed at auction. STORE SHEEP.—The yarding was small. The entry was made up mostly of wether lambs. Good conditioned wether lambs made from 9/6 to 11/3; full and failing mouthed ewes of poor quality from 4/- to 7/10. A pen of ewe lambs met with poor competition and was passed in. A pen of 2-tooth store wethers in light condition was passed in at 14/7.

FAT SHEEP.—There was again a very large yarding, the greater proportion of which consisted of freezing quality ewes. The market maintained about the same tone as last week. Prime quality medium weight wethers made from 25/6 to 27/-, handy weights from 23/- to 24/6 and lighter weights down to 21/-. Unfinished sorts realized down to 19/-. Prime quality young ewes made up to 16/9, good butchers’ weights 12/- to 14/6, and freezing quality round about 10/6. FAT LAMBS.—There was a good entry in the fat lamb section and values were at schedule rates. Prime heavy lambs sold from 23/- to 24/6; good quality 20/6 to 21/6; medium 18/- to 19/6, with light and unfinished down to 16/-.

FAT CATTLE.—The large entry forward contained a goodly proportion of bullocks of good quality. There was a fair demand with few passings. Prime quality bullocks sold up to £9 2/6; good quality, £7 to £8; lighter £5 10/- to £6 5/-; unfinished down to £4 5/-. Good quality cows up to £5; medium £3 10/- to £4 5/-; rough and unfinished down to £2, and aged sorts down to £l. Prime quality medium weight heifers made up to £5 5/-; lighter weights £3 15/- to £4 10/-; and light and unfinished sorts down to £2

McNAB STOCK SALE.

The fortnightly McNab stock sale was held yesterday in heavy rain. Buyers were offered a choice of fat sheep and cattle.

In the fat sheep section several pens of prime were sold at 27/-, while others

not so well finished changed hands at from 20/- to 24/-. Medium weight fat bullocks in the cattle section were sold at £4 to £5 10/-. Dairy heifers brought from £4 15/to £5 15/-. Sales were as follows:— Southland Farmers’ Co-op. Association, Ltd.: 12 fat wethers' 27/-, 5 do. 23/3, 3 do. 20/-, 3 fat cows 12/-, fat bullock £5 10/-, 1 do. £5, 2 do. £4. 10/-, 2 do. £4,1 dairy heifer (at profit) £5 15/-, 2 do. £5, 1 do. £4 15/-, 7 dairy cows (factory calvers) 18/- to 20/-, 5-year-old colt £2B. National Mortgage and Agency Co., Ltd.: 5 fat ewes 12/9. WINTON HORSE SALE. (From Our Correspondent.) At the special horse sale held by Messrs Wright, Stephenson and Co., Ltd., at Winton on Saturday there was an entry of over thirty draught mares and geldings and a number of hacks. The bidding was not as keen as at the previous sale, and while there were few outstanding entries, a number of serviceable draughts were submitted. The top price was £39 10/- for a five-year-old mare, while a five-year-old gelding realized £38.. Two six-year-old geldings made £35, an eight-year-old gelding £35, while older horses made from £2O to £3l. Aged and inferior sorts were difficult to dispose of. There was a poor demand for hacks and few sales were made. A quantity of harness and sundries brought full market rates. The stallion Royal Imprint was passed in at auction. MAHAKIPAWA RETURN. The return from Mahakipawa Goldfields Company last week was 18oz of alluvial gold. SYDNEY STOCK EXCHANGE. FRONT RANK INDUSTRIALS STRONG. (United Press Assn.—Telegraph Copyright.) (Rec. 8.20 p.m.) Sydney, June 18. On the Stock Exchange to-day front rank industrial shares maintained a strong position, but there was profittaking among many of the lower priced issues. The gold share market continues to drift and the gilt-edged market is quiet. Sales: — £ s d

BRITAIN’S TRADE RETURNS FOR MAY. (United Press Assn.—Telegraph Copyright.) London, June 17. The Board of Trade returns for May are: — n i £ Imports 64,532,000 Exports 35,206,000 Re-exports 5,559,000 The principal increases compared with May last year are:— , Imports. £ Grain and flour 867,000 Meat 446,000 Wool 1,059,000 Seeds, nuts, etc. 585,000 Rubber 252,000 Non-ferrous metals and manufactures thereof 556,000 Oils, fats, resins and manufactures thereof 251,000 Exports. £ Iron and steel and manufactures thereof 372,000 Machinery 448,000 Vehicles 696,000 The principal decreases are:— < Imports. £ Dairy produce 231,000 Tobacco 679,000 Raw cotton 282,000 Exports. £ Woollen and worsted yarns and manufactures thereof 246,000 EXPANSION MAINTAINED. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, June 17. The higher standard of overseas trade which has been noted each month of the current year was maintained in May, for which month the Board of Trade returns show an expansion in the export value of cotton yarns and manufactures of £212,700. For the first five months of this year the increase in British exports aggregated £15,969,956. THE DOLLAR AND THE FRANC. (United Press Assn.—Telegraph Copyright.) London, June 17. The dollar is quoted at 4.92? and the franc at 74g to the £ sterling.

FOREIGN EXCHANGES. (British Official Wireless.) (Rec. 5.5 p.m.) Rtgby, June 17. The following mean closing rates ol foreign exchanges were quoted to-day compared with par:— Par. To-day.

ON NEW ZEALAND CURRENCY BASIS. The Bank of New South Wales quoted the following rates for its purchases ana sales on overseas currencies yesterday (all rates Subjected to alteration without notice:— New Zealand On Buying Selling

BRITISH WAR LOAN. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, June 17. The War Loan, 3J par cent., is quoted at £lO5 10/-.

Buyers • £ s. d. Sellers. £ s. d. Stock. 34 p.c., 1938-43 • 105 0 0 Stock. 34 p.c., 1938-52 106 10 0 Stock, 34 p.c., t 1939-43 105 0. 0 ——— Stock, 34 p.c., 1939-52 106 10 0 Stock, 4 p.c., 1940 103 0 0 104 0 0 Bonds, 4 p.c., 1940 103 0 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 110 0 0 1 —— Bonds, 4 p.c,, 1955 110 0 0 — Banks. Australasia 11 5 0 Commercial 15 3 Commercial (4 per cent. pref, cum.) 9 12 6 Commercial of Sydney — 18 0 0 National of N.Z. 3 6 6 New Zealand (ex div.) 2 10 3 Reserve Bank of New Zealand 6 9 6 6 10 0 Union of Australia — 9 2 6 Breweries. Dunedin Brewery Co. 1 9 0 N.Z. Breweries (shares) — 2 13 6 Timaru Brewery — 0 8 9 Coal. Kaitangata 1 1 0 Westport Coal — 1 1 3 Insurance. National 1 1 0 South British' — 4 18 6 Loan and Agency. National Mortgage (B issue) 1 11 0 Southland Farmers’ Co-op. (deb. pref.) 4 5 0 — Wright, Stephenson and Co. (pref.) — 1 0 0 Meat Companies. N.Z. Refrigerating (20/- paid) — 1 0 0 (10/- paid) 0 8 10 Southland Frozen Meat (£1 ord.) ——- 3 16 6 (£1 nref.) —— 3 16 6 South Otago Freezing Co. 6 13 6 —— Shipping. Union Steam Ship Co. (pref.) 1 7 0 Miscellaneous. Associated News 1 2 6 Australian Glass 3 7 6 Australian Iron and Steel 1 2 6 British Tobacco (Aust.) — 1 19 0 Colonial Sugar Co. — 42 10 0 D.I.C. (ord.) 0 15 0 -1 Dominion Fertilizer 1 1 0 — Dominion Rubber Co. (ex. div.) — 1 9 6 (pref.) — 1 6 6 Donaghy’s Rope and Twine 2 11 0 ——— Dunlop Rubber — — 0 16 9 Milbum Lime and Cement 2 4 0 N.Z. Drug 4 2 0 N.Z. Guarantee Corporation 0 5 9 — N.Z. Paper Mills 1 13 9 1 15 0 Woolworths (Sydney) — 4 11 0 Wilson’s (N.Z.) Portland Cement — 1 19 0 Mining. Bendigo Goldlight 0 0 10', 0 1 0 Broken Hill 2 15 9 2 16 6 Big River 0 2 1 0 2 4 Electrolytic Zinc (ord.) 1 5 6 1 7 0 (pref.) 1 14 9 —— Gillespie’s Beach 0 1 5* 0 1 7 Goldfields Dredging — 0 0 34 Kildare 0 3 0 0 3 5 King Solomon i 0 3 9 0 4 0 Mount Lyell —— 1 0 3 Mount Morgan — 1 17 3 Waihi Gold Mining — 1 18 0 Waitahu 0 2 10 0 3 3 Waihi Grand Junetion — 0 4 6

Commercial Bank of Sydney 17 16 0 National Bank (£5 paid) 6 6 0 National Bank (£10 paid) 12 18 0 Bank of Australasia 11 5 0 Associated Newspapers 1 3 6 Australian Gas (A) 8 1 6 Australian Glass 3 9 6 Hume Pipe 13 9 Howard Smith 14 9 Huddart Parker 1 18 0 British Tobacco 1 19 0 Tooth’s 2 13 3 Carlton Brewery 2 9 3 General Industries 17 104 Morris Hedstrom (pref.) 1 5 0 David Jones 2 0 6 Victoria Nyanza 5 6 Lustre Hosiery 7 4i Mt. Morgan 1 16 74 South Broken Hill 4 7 0 Bulolo Gold 9 8 Kuala Kampar 13 0 Rawang 7 4 Malim Nawar 17 6 Peninsula Tin 1 0 1J Commonwealth Bonds (4 per cents)1938 101 16 3 1947 105 12 6 1950 106 16 3 1953 106 15 0 1955 104 15 0 Melbourne Sales. National Bank (£10 paid) 12 16 0 Mt. Lyell 19 6 ■ |l 1 ■

Paris, fr. to £ 124.21 74g New. York, dol. to £ 4.866 4.925 Montreal, dol. to £ 4.866 4.95 Brussels, belgas to £ 35 29.12 Geneva, fr. to £ 25.221 15.074 Amsterdam, fl. to £ 12.107 7.26 Milan, lira to £ 20.43 60 1-16 Berlin, rmk. to £ 20.43 12.22 Stockholm, kr. to £ 18.159 19.391 Copenhagen, kr.* to £ 18.159 23.39J Oslo, kr. to £ 19.159 19.90J Vienna, schgs to £ 34.585 '26 Prague, kr. to £ 154.25 118 Helsingfors, m. to £ 193.23 227 Madrid, pesetas to £ 25.2215 36 1-32 Lisbon, escudos to £ 110 110J ‘ Athens, dr. to £ 875 515 Bucharest, lei to £ 818.6 487J Belgrade, dinars 276.31 217 Rio de Janeiro, p. to milreis 8.892 41 Buenos Aires, p. to dol. 45.577 15 Montevideo, p. to dol. 57 395 Bombay, pence to rupee 19 18J Shanghai, pence to dol. 195 Hong Kong, p. to dol. ———— 28 3-16 Yokohama, p. to yen. 24.57 144 ■ Batavia 7.264 - ■ »

London— £N.Z. to £100stg. T.T. O.D. 124 124/10/124/8/9 Australia— £A to £100 N.Z. T.T 101 100/10/O.D. 101 100/10/Fill— £F to -£100 N.Z. T.T. 90/7/6 89 OX). 90/7/6 89 New YorkDollars to £1 N.Z. T.T. 3-98? 3.94? O.D. 4.00? 3.95? Montreal— Dollars to £1 N.Z. T.T. 3.99 3.951 O.D. 4.001 3.95? France— Francs to £1 N.Z. T.T. 60.58 59.28 O.D. 60.88 59.33 Noumea— Francs to £1 N.Z. T.T. 61.53 58.53 O.D. 61.93 58.58 Papeete— aFrancs to £1 N.Z. T.T. 61.53 58.53 O.D. 61.93 58.58 Belgium— . Belgas to £1 N.Z. T.T. — 23.095 O.D. — 23.110 Get many— Reichmarks to £1 N.Z. T.T. — 9.610 O.D. —— 9.615 Italy— Lire to £1 N.Z. T.T. 47.59 O.D. »— 47.63 Switzerland Francs to £1 N.Z. T.T. 12.333 11.933 O.D. 12.408 11.943 Holland — Florins to £1 N.Z. T.T. 5.968 5.718 O.D. 6.018 5.722 JavaFlorins to £1 N.Z. T.T. 5.923 5.698 O.D. 5.973 5.702 Japan— N.Z. pence to 1 yen T.T. —• 17 13/16 O.D. •—■ Shanghai— N.Z. pence to 1 dollar T.T. 24 3-32 25 13-32 OX). 23 31-32 25 11-32 India and Ceylon— N.Z. pence to 1 1 rupee T.T. 22 3-8 22 23*32 O.D. 22 1-4 22 21-32 Hong Kong— N.Z. pence to 1 dollars T.T. 34 19-32 35 21-32 O.D. 34 15-32 35 19-32 Singapore— N.Z. pence to 1 dollar T.T. 34 9-32 35 7-32 OD. 34 5-32 35 5-32 Sweden— Kroner to £1 N.Z. T.T. 15.790 15.460 OX). 15.830 15.470 Norway— Kroner to £1 N.Z. T.T. 16.200 15.870 O.D. 16.240 15.880 Denmark— Kroner to £1 N.Z. T.T. 18.208 17.878 O.D. 18.248 17.888 Austria— Schillings to £1 N.Z. T.T. —- 20.59 O.D. 20.61 Czechoslovakia— Crowns to £1 N.Z. T.T. — 94.53 O.D. — 94.58