COMMERCIAL

Southland Times, Issue 22733, 8 November 1935, Page 2

COMMERCIAL

THE SHARE MARKET. INVERCARGILL STOCK EXCHANGE. BANK SHARES IMPROVE. Banking shares showed an improvement at yesterday’s call-over on the Invercargill Stock Exchange, and there was a fair turnover. Prices were quoted as follows:—

NORTHERN EXCHANGES. (Per United Press Association.) Auckland, November 7. Sales on ’Change: Stock, 1940, 4 per cent., £lOl 15/- (2); Stock, 1946, 4 per cent., £lO4 15/-; Franklin Power Board 1963, 4] per cent., £lO7 10/-; English, Scottish and Australian Bank £5 6/6; Bank of New South Wales £33; Bank of New Zealand 50/6; New Zealand Insurance 63/3 (2); South

British Insurance 90/-; Farmers Auctioneering (B pref.) 21/9; North Auckland Farmers’ (B pref.) 11/-; Huddart Parker (pref.) 29/-; Kauri Timber 23/6, 23/5, 23/6; Dominion Breweries 16/2; Staple’s Brewery 33/-; Anthony Hordern 19/-; Bycroft 52/6; New Zealand Paper Mills 28/6; Martha Mine 22/-; Mataki 2/3; Skippers 2Jd; Waihi Investments 17/3, 17/-; Placer £5 1/-. Wellington, November 7. Sales on ’Change: Reserve Bank of New Zealand £6 3/3; Christchurch Gas 35/-; Huddart Parker 38/6; Electrolytic Zinc 35/3; Skippers 2£d; Mount Lyell 20/6. Unofficial: Mount Koroere 18/-. Christchurch, November 7. Sales on ’Change: Bank of New South Wales (cum div.) £33 (3); Bank of New Zealand 50/8; New Zealand Breweries 53/2; Staple’s Brewery 33/6; Broken Hill Proprietary (cum div.) 57/6; Anthony Hordern 19/1; Dunlop Perdriau Rubber 16/8 (2); Electrolytic Zinc (ord., odd lot) 35/-; New Zealand Fanners’ Fertilizer 19/6; United Provisions 12/-; Big River 1/10J; Mount Lyell 20/8; Rawang Tin 9/-. Sales reported: National Bank of New Zealand 73/- (3); Bank of New South Wales (cum div.) £33 (late Wednesday); Bank of New South Wales (cum div.) £33 (2); New Zealand Refrigerating (10/- paid) 11/-; Consolidated Brick 9/3; Kauri Timber (cum div.) 23/7; New Zealand Newspapers 41/-; Maori Gully (cum div.) 1/111; Mount Lyell 20/9, 20/10. Dunedin, November 7. Sales on ’Change: P. and O. (deferred stock) £1 2/6; New Zealand Breweries £2 12/8; Broken Hill Proprietary (ex. div.) £2 18/- (2); Martha Mine £1 2/- (2). , Unlisted sale on ’Change: Cash Orders (Amalgamated) £1 1/6.

RESERVE BANK. ASSETS AND LIABILITIES. WEEKLY STATEMENT. (Per United Press Association.) Wellington, November 7. 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, November 4. — LIABILITIES. £ s d 1. Paid-up capital 500,000 0 0 2. General reserve fund 1,000,000 0 0 3. Bank notes 9,056,722 10 0 4. Demand Liabilities— „ (a) State 5.572,021 17 0 (b) Banks 4,475,828 10 11 (c) Other 712,506 0 2 5. Time Deposits 6. Liabilities in currencies other than New Zealand currency n - 7. Other liabilities 9a,864 18 9 Total £21,402,943 16 10 ASSETS. £ s d 8 ' 2.801,732 10 0 (b) Sterling exchange 16,825,599 17 0 (c) Gold exchange ~,,777, 9. Subsidiary coin 212,14 a b a 10. Discounts — (a) Commercial and agricultural bills (b) Treasury and local body bills 11. Advances — (a) To the State or to State undertakings (b) To other public authorities " — 12. Investments 1,535,850 11 1 13. Bank buildings —- 14. Other* assets 27,61 a 12 6 Total £21,402,943 16 10 Proportion of reserve (No. 8 less No. 6) to notes and other demand liabilities, 99.0J2 per cent. MATAURA STOCK SALE.

The monthly Mataura stock sale was held in wretched weather conditions yesterday. There was a fair entry, including a large number of dairy cattle, and there was a large attendance of buyers. Sheep made up a moderate entry and the sale was fairly sound, with values about on a par with recent fixtures. Ewes and lambs made up a fair proportion of the stores and sold at up to 13/9, 15/- being refused for one line. Fat ewes brought up to 23/3 with fat wethers up to 35/-. In the cattle section, the bulk of the entry consisted of dairy sorts for which the demand was restricted and a considerable number were passed in. Fat cattle sold well up to the firm prices of recent district sales. Sales were as follows:—

Wright Stephenson and Company, Ltd.—62 ewes and lambs passed 15/-; 160 ewes and lambs passed 13/7; 15 fat wethers passed 29/6; 13 fat wethers passed 26/6; 2 dairy cows £4 5/-; 1 dairy cow £6; 1 2-tooth ewe 23/6; 1 ewe hoggett 18/-; dairy cow passed 55/-; 7 yearling heifers 26/-. J. E. Watson and Co., Ltd.—l fat wether 35/-; 3 fat ewes 23/3; 24 ewes and lambs 12/9; 1 dairy cow 25/-; 2 dairy cows passed. The Southland Farmers’ Co-operative Association, Ltd.—3B ewes and 40 lambs 13/3; 38 ewes and 48 lambs 13/-; 200 ewes and lambs passed in; 5 wether hoggets 24/3; 7 fat ewes 13/3; fat shorn ewes 15/-; 2 empty heifers £4 15/-; 2 empty heifers £5; fat cow £4 10/-; bull £5; steer £3 17/6; empty-heifer £3 10/-; empty cow £3 10/-; 2 fat cows £7 7/6; 1 fat cow £6 7/6; 1 fat cow £5 15/-; 1 fat cow £6. The National Mortgage and Agency Co., Ltd—97 ewes and lambs 12/6; 81 ewes and lambs 13/9; 94 ewes and lambs 12/6; 19 wether hoggets 23/-; 16 empty ewes 8/-; 16 f. and f.m. ewes 14/9; 14 fat ewes 22/9; 14 fat ewes 22/9; 7 fat ewes 21/-; 5 empty heifers £1 7/6; fat heifer £3; dairy cow 10/-; 1 heifer £1 15/-; 40 ewes and lambs 9/8; 4 ewe hoggets 26/3; 3 fat ewes 22/9; 1 fat cow £4. WINTON STOCK SALE. YESTERDAY’S OFFERING. SHEEP VALUES FIRM. (From Our Correspondent.) At the fortnightly stock sale at Winton yesterday about 500 sheep were yarded. Wintry conditions prevailed and there was only a fair attendance. Values for hoggets, ewes and lambs were very firm and good prices were secured. In the fat sheep section wethers made as high as 27/-, best young ewes from 24/- to 26/-, and lighter sorts from 18/- to 23/-. Ewes and lambs, with the exception of a few pens of hoggets, mainly comprised the store sheep section. Extra good ewe hoggets realized 24/6, with others at 31/2. Best ewes and lambs made 13/11 to 14/3, good sorts from 10/6 to 13/- and poorer conditioned offerings from 9/- to 11/-. In the cattle section fat bullocks made .from £9 10/- to £IL

SHARLAND AND COMPANY. ft ANNUAL MEETING. (Per United Press Association.) Wellington, November 7. The annual meeting of Sharland and Company was held to-day. Definite signs of a recovery in the wholesale pharmacy trade were reported and the chairman, Mr A. E. Mabin, made brief reference to the possibility of the establishment of chemists’ chain stores in New Zealand, but the subject was not discussed. A net profit of £837 higher than last year was shown and after providing for the usual dividend of 5 per cent., income tax, depreciation and bad debts, there was left £1656, increasing the carry forward to £6128. The retiring directors and the retiring auditors in Auckland, Wellington and Dunedin were all re-elected.

Government Debentures. Breweries. Buyers. Sellers. £ s d £ s d Stock, 3J p.c., 1938-52 104 5 0 Stock, 34 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 10 0 — Bonds, 4 p.c., 1946 104 10 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. New Zealand Long “D” issue — 1 14 0 Australasia 11 3 0 Commercial — 0 16 6 Reserve Bank of New Zealand 6 2 6 6 5 0 T T - —- — I. A — — J——1 — —. 9 10 0 Breweries. New Zealand Breweries (Shares) 2 12 6 2 12 9 Timaru Brewery 0 8 4 — Tooth’s Brewery 2 17 6 — Coal. Westport Coal 1 2 6 1 3 3 Westport Stockton (pref.) — 0 4 0 Loan and Agency. National Mortgage “B” issue 1 12 3 — Trustees’ Executors Dunedin 3 3 0 .. ■■ - — Wright, Stephenson and Co. (ord.) ■ »■■■•■ ■ 0 18 6 Mortgage Corporation 0 5 8 — Meat Companies. N.Z. Refrigerating (20/- paid) 1 2 0 — (10/- paid) 0 10 10 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 (pref.) 1 7 6 — Union Steam Ship Co. (pref.) 1 7 3 — Miscel 1 meous. British Tobacco (Aust.) 1 19 3 2 0 6 Dominion Fertilizer 1 3 0 — Dominion Rubber Co. — 1 . 8 6 Milbum Lime and Cement 2 4 0 2 4 9 New Zealand Drug 3 17 6 4 0 0 Dunlop Rubber (Aust.) 0 16 3 — N.Z. Paper Mills — 1 10 0 Wilson’s (N.Z.) Portland Cement 2 1 6 ——■ Woolworth’s (Sydney) 5 10 0 -— Woollen Mills Bruce (ord.) 0 15 0 Kaiapoi (pref.) — 0 19 0 Mosgiel — 10 10 0 Mining. Bendigo Goldlight — 0 0 41 Broken River Pty. 2 17 0 2 18 0 Big River 0 1 104 0 2 0 Central Shotover ——- 0 0 2 Electrolytic Zinc (ord.) 1 14 3 — (pref.) 1 17 0 — Gillespie’s Beach — 0 1 21 Goldsfields Dredging 0 0 25 0 0 31 Kildare — 0 3 0 King Solomon 0 3 2 — Mount Lyell 1 0 0 1 0 9 Nokomai 0 1 1 — Okarito 0 4 6 0 5 6 Waitahu 0 2 10 Martha 1 1 0 Junction Reward 0 1 55 — Waipapa Beach 0 1 6 0 1 8