COMMERCIAL

Southland Times, Issue 22730, 5 November 1935, Page 3

COMMERCIAL

THE SHARE MARKET.

INVERCARGILL STOCK EXCHANGE. FAIR DEMAND IN ALL SECTIONS. There was a fair demand for shares in all sections at yesterday’s call-over on the Invercargill Stock Exchange, that for Broken Hill Pty. being appreciably improved. A sale was recorded of Invercargill Borough 1934, 4| per cent, debentures, at £lOl 10/-. Prices were quoted as follows:—

Sale Reported. Invercargill Borough, 1939, 4.1 per cent., £lOl 10/-. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, November 4. Sales on ’Change: Bonds, 1949, 4 per cent., £lO5/-; Mount Roskill, 1942, per cent., £lO3 10/-; Bank of Australasia £ll 5/-; Bank of New Zealand 50/9; English, Scottish and Australian Bank £5 6/6; New Zealand Insurance 62/9; South British Insurance 88/-; Mortgage Corporation 5/7; Kauri Timber 23/8; Tooth’s Brewery 57/9; Broken Hill Proprietary 56/-; Burns Philp 65/9; Colonial Sugar £44; Electrolytic Zinc 33/-; New Zealand Refrigerating 22/3; Sanford 2/9; Martha 21/4; Waihi Investments 16/7; Mount Lyell 19/7; Mount Morgan 37/3; Placer Development £5 1/- (3); Skippers 23d. Wellington, November 4.

Sales on ’Change: inscribed Stock, 4 per cent., 1943-1946, £lO4 13/9; Mortgage Corporation 5/8; Christchurch Gas 34/7; New Zealand Refrigerating 22/3 (2); New Zealand Refrigerating (contr.) 11/- (2); Taupo-Totara Timber 7/6 (late Saturday); Tooth’s Brewery 57/9; Broken Hill Proprietary 56/-; Waihi Investments 16/9. Unofficial: Christchurch Press £ll (late Saturday). / Christchurch, November 4. Unlisted sale on ’Change: Woolworths, Sydney (ord.) £5 11/9. Sales on ’Change: Dalgety and Company £2 1/-; New Zealand Refrigerating (10/- paid) 11/- (4); Christchurch Gas 34/3; New Zealand Breweries 52/1 (2); British Tobacco 39/6; Broken Hill Proprietary (cum div.) 55/10, 55/9; Dominion Fertilizer 23/9; Electrolytic Zinc (ord.) 33/4, 33/6; Electrolytic Zinc (pref.) 37/9 (2); New Zealand Newspapers 40/6; Big River 1/11 (2); Mount Lyell 19/6 (4); Rawang Tin 8/4. Sales reported: Kauri Timber (cum div.) 23/5; Hay’s, Ltd. (15/- paid) 16/-; Christchurch Gas 34/7; National Insurance (cum div.) 19/5; Nevz Zealand Farmers’ Fertilizer 19/1. Dunedin, November 4. Sales on ’Change: National Insurance 19/6; Mortgage Corporation 5/7 (3); Mount Lyell 19/6, 19/7; Sandhills 4Jd.

- mining Reports.

GILLESPIE’S BEACH RETURN. (Per United Press Association.) Dunedin, November 4. Mining returns are as follows: Gillespie’s Beach, 290 z lOdwt for. 96 J hours. Paddy’s Point, 91oz for 42 days. Okarito, 350 z 14dwt for 117 hours. MATAKI RETURN. Auckland, November 24. Mataki Gold Dredging Ltd. reports that the return for the week ending the 3rd instant was 73 ounces for 132 hours’ work. E.S. AND A. BANK. PROFIT FOR YEAR. (United Press Assn.—Telegraph Copyright.) London, November 3. The English, Scottish and Australian Bank reports a profit of £243,579. Interim dividends absorb £75,000, and the reserve fund £15,000. The amount brought in is £275,747. It is proposed to further appropriate for the officers and contingencies fund a sum of £5OOO, and to pay a further 21- per cent, interim dividend (tax free), which will absorb £7500, and to place in the contingencies reserves £5OOO, leaving to be carried forward the sum of £299,326. SYDNEY STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. (United Press Assn.—Telegraph Copyright.) (Rec. 9.5 p.m.) Sydney, November 4. Business on the Stock Exchange today was of a moderate volume and the tone generally was strong. Sales:— £ s d

SYDNEY WOOL SALES. LAST WEEK’S RATES MAINTAINED. (United Press Assn.—Telegraph Copyright.) (Rec. 10.30 p.m.) Sydney, November 4. At the wool sales 13,040 bales were offered and 12,069 sold, 1863 being sold competition from all sections and values were fully equal to those of last week. Greasy Merino sold to 22 jd. The average price last week was £l5 19/4 a bale or 12.7 d ajb. DAIRY PRODUCE PRICES. The New Zealand Dairy Board has received the following market report from its London office dated November 1, 1935:— Butter. —New Zealand salted, 105/to 106/-, ex. 108/- (equals approximately 12.45 d f.0.b.); unsalted 110/- to 114/-. Deliveries New Zealand 1719 tons, in store New Zealand 3514 tons, (includes 979 tons Port Fairy). Australian salted 104/- to 106/-; unsalted 108/- to 110/-. Deliveries Australian 574 tons; in store Australian 871 tons. Market quiet. New Zealand retail price 1/2. Danish, 103/- f.0.b., 124/- to 125/- spot; Dutch salted, 106/- to 110/-; Dutch unsalted 108/- to 117/-; Siberian salted, 101/- to 102/-; Ukranian salted 101/- to 102/-; Polish salted 98/- to 100/-. Market quiet. Danish retail price 1/4. Imperial Economic Committee’s estimated stocks of all butters in store, 609,258 boxes. Cheese.—New Zealand white 52/- to 53/-; New Zealand coloured 52/- to 53/- (equals approximately 5.71 d f.0.b.). Deliveries New Zealand 12,871 crates; in store New Zealand 70,774 crates. Australian white and coloured 52/-; Canadian white and coloured 58/- to 60/-; Canadian old season’s white 51/to 54/-; Canadian C.I.F. 51/-. Market steadier at end of this week. New Zealand, retail price 7d. Market steady for Australian and Canadian.

DAIRY BREEDS.

NEW ZEALAND FEDERATION.

ANNUAL MEETING.

The annual meeting of the New Zealand Dairy Breeds Federation was held at the Showgrounds, Tomoana, Hastings, during Royal Show week. Mr G. H. Bell, Oakura, presided over the following members: —Messrs C. G. C. Dermer, Cheltenham; W. H. Miers, Rototuna (New Zealand Jersey Association, with Mr G. H. Bell); A. D. Bell, Clevedon; R. D. Duxfield, Horotiu; A. W. Green, Hamilton (New Zealand Milking Shorthorn Association); H. E. Johnson. Tokaora; D. J. McGowan, Auckland (New Zealand Friesian Association); C. M. Hume, Hamilton (Dominion supervisor,' Group Herd Testing Federation) and the secretary, Mr J. P. Kalaugher, Auckland. The balance-sheet showed a credit of £23 18/4 ‘ X U XX The following report was read by Mr G. H. Bell: “In making my report over the past year’s working of the Dairy Boards Federation, I wish to state that some af the resolutions carried at our last meeting in Invercargill have borae fruit. The request to the Dairy Division that breeders placing cows under C.O.R. test should be given up to four days’ grace after calving before beginning their test has been granted by the Dairy Division. “The resolution passed at our last annual meeting and forwarded to the Minister of Agriculture expressing the desire to retain the present system of C.O.R. and Government official herd testing under the control of the Director of the Dairy Division, Department of Agriculture, was followed by a deputation to the Minister, who assured the deputation that no action would be taken in the matter of regulations without the federation being given full opportunity to express its opinion on the proposals. . “I am pleased to say that the Dominion Group Herd-Testing Federation, which has done such good work in the past, is to receive, further assistance from the Government and the Dairy Board in the setting up of a council with wider powers of control for herdtesting and calf-marking. This advisory council will be under the New Zealand Dairy Board’s power and it is suggested that a representative of the

New Zealand Dairy Breeds Federation should be appointed to that council. I would like to mention the great work done by Mr C. M. Hume, herdtesting supervisor and secretary of the Dominion Group Herd-Testing Federation, without whose strenuous efforts the position could not have been maintained so strongly during these difficult years. I trust that'when the new Advisory Herd-Testi: g Council functions Mr Hume’s services will be retained for the benefit of the industry. “The question of selective registration was brought before our last annual meeting as a result of a letter from Mr Tonar, secretary of the Auckland Jersey Club, setting out a suggested scheme of registration. A copy of Mr Tonar’s letter \/as forwarded to all the breed societies for consideration and it is hoped that some useful scheme will be brought up at the meeting as a result of the suggestions.” Co-ordination of Testing. Mr H. E. Johnson, Tokaora, was elected president of the federation for the ensuing year, and Mr J. G. Donald, Featherston, was elected vice-presi-dent. Mr J. P. Kalaugher, Auckland, was re-elected secretary and treasurer. Mr H. E. Johnson was elected as the federation’s representative on the Central Executive of the Dominion Group Herd-Testing Federation. The New Zealand Friesian Association forwarded the following resolution passed at a council meeting on October 23, 1935:—“T0 facilitate classification of herds, and to ensure the testing of all cows, that it be a recommendation from this association through the New Zealand Dairy Breeds Federation to the Government that co-ordination of the activities of all forms of testing, C.0.R., G.O.H.T. and group herd-testing should be arranged.” The discussion on this matter showed that it would be fully dealt with by the new governing body for group herd-testing and by the Department of Agriculture (Dairy Division). The letter was received.

Mr C. G. C. Dermer brought before the meeting a proposal that instead of the present system of having first, second and third class C.0.R., there should be only two classes, viz., first class certificates (for all cows complying with the calving requirements) and second class certificates (for all other cows). It was decided to refer this matter to the various dairy breed societies for their opinions. A discussion on the most suitable “age date” for dairy cattle exhibited at shows brought out that some members favoured June 1 for North Island shows and July 1 for South Island shows, while others advocated July 1 throughout New Zealand. It was decided to write to the various breeds associations for their opinions on tills matter.

The New Zealand Milking Shorthorn Association forwarded a letter from the Director of the Dairy Division, Mr W. M. Singleton, regarding the publication of the number of times cows on C.O.R test were milked daily. It was resolved to refer the matter to the next meeting of the federation. The meeting ended with a vote of thanks to Mr G. H. Bell for his services as president of the federation for the past two years.

Government Debentures. Buyers. £ s d Sellers. £ s d Stock, 31 p.c., 1938-52. 104 5 0 — Stock, 3 V p.c., 1939-43 102 10 0 Stock, 31 p.c., 1939-52 104 5 0 - Stock, 4 p.c., 1940 101 10 0 — Bonds, 4 p.c., 1940 101 10 0 — Stock, 4 p.c., 1946 104 15 0 — Bonds, 4 p.c., 1946 104 15 0 — Stock, 4 p.c., 1949 105 0 0 —— Bonds, 4 p.c., 1949 105 0 0 Stock, 4 p.c., 1955 108 0 0 — Bonds, 4 p.c., 1955 108 0 0 — Banks. Australasia 11 2 6 E.S. and A. Bank 5 6 0 — National of New Zealand 3 11 6 — New South Wales 32 0 0 33 0 0 New Zealand 2 10 9 — New Zealand Long “D” issue 1 14 0 Reserve Bank of New Zealand 6 0 0 — Union of Australia 9 6 0 9 11 0 Breweries. Dunedin Brewery * Co. —______—— 1 10 0 New Zealand Breweries (Shares) 2 11 9 2 12 6 Staples’ Brewery 1 12 0 — Coal. Westport Coal 12 3 — Insurance. National 0 19 4 0 19 9 Loan and Agency. National Mortgage — 2 14 6 Perpetual Trustees (Dunedin) 3 3 0 — Trustees Executors (Dunedin) 3 3 0 — Wright, Stephenson and Co. (ord.) ■ - 0 18 6 (pref.) — 1 10 3 Mortgage Corporation 0 5 6 0 5 7 Meat Companies. N.Z. Refrigerating (20/- paid) 12 0 —■ (10/- paid) —— —• 0 11 0 Southland Frozen Meat (£1 ord.) — 4 0 0 (10/- ord.) — 2 0 0 (£1 pref.) - 4 0 0 South Otago Freez — ing Co. (ex div.) 7 0 0 — Shipping. Huddart-Parker 17 6 — — Union Steam Ship Co. (pref.) 17 3 — Miscellaneous. D.I.C. (pref.) ex div. 13 0 — Dominion Fertilizer 13 0 — Dominion Rubber Co. — 1 8 6 Milburn Lime and Cement 2 4 0 2 4 6 New Zealand Drug 3 17 0 — N.Z. Paper Mills 18 0 1 9 6 Wilson’s (N.Z.) Portland Cement 2 10 — Woolworths (Sydney) 5 11 0 — Woollen Mills. Bruce (ord.) 0 15 0 — Kaiapoi (pref.) . 0 18 9 Mosgiel ——— 10 10 0 Mining. Bendigo Goldlight — 0 0 51 Big River 0 1 1010 2 0 Broken. Hill Pty. 2 14 G 2 15 G Gillespie’s Beach 0 10 0 1 21 Goldfields Dredging 0 0 2 — King Solomons 0 3 1 0 3 5 Kildare — 0 3 0 Mount Morgans — 1 17 6 Nokomai 0 10 — Okarito 0 4 10 0 5 3 Waitahu 0 3 0 — Waipapa Beach 0 15 0 1 8

Bank of New South Wales 33 0 0 Commercial Bank of Sydney 18 0 0 Australian Provincial Assurance 1 0 6 South British. Insurance 4 10 0 Associated Newspapers 1 5 0 Associated Newspapers (pref.) 1 4 4J Burns Philp o 6 0 Tooth’s 2 18 6 Toohey’s 1 10 9 Edwards Dunlop 2 1 6 R. Fowler 13 9 Mark Foy 1 1 10J Australian Wood Pipe 8 6 Drug Houses 1 7 3 Australian Iron and Steel (pref.) 1 5 0 Electrolytic Zinc 1 14 4| Electrolytic Zinc (pref.) 1 18 9 Farmers 1 6 6 Dnvid Jones 2 0 3 General Industries 19 9 Amalgamated Textiles 11 6 Nestle’s (pref.) 1 13 7i United Provisions 11 8 Mt. Lyell 1 0 4 2 South Broken Hill 5 3 6 Bulolo Gold 8 0 0 Kuala Kampar 14 5 Koroere 1 0 0 Emperor 1 2 3 Commonwealth Bonds (4 per cents) ■ 1938 102 17 6 1953 104 0 0 1955 104 10 0 Melbourne Sales. Commercial Bank of Australia 1G 8 British Tobacco 2 0 0 North Broken Hill 8 6 0 Mt. Lyell 1 0 41 Enterprise 4 0 0 Emperor 1 2 41 Loloma 2 1 0