SHARE MARKET

Southland Times, Issue 22949, 23 July 1936, Page 3

SHARE MARKET

INVERCARGILL STOCK EXCHANGE VERY FAIR INQUIRY Except for banking lines, the market at yesterday’s call-over on the Invercargill Stock Exchange was steady. There was a very fair inquiry. Sales were reported of Bank of New Zealand script at £2, Nemona Goldmining at 1/51 and Gisborne Sheep Farmers at £lOO 15/-. Prices were quoted as follows: —

Bank of New Zealand, £2. Nemona Gold Mining, 1/SA. Gisborne Sheep Farmers, £lOO 15/-. NORTHERN EXCHANGES SALES OrT’CHANGE AUCKLAND.

SYDNEY STOCK EXCHANGE EQUAL RISES AND FALLS. (United Press Assn—Telegraph Copyright.) (Rec. 8.15 p.m.) Sydney, July 22. Price changes on the Stock Exchange to-day were about equally divided between rises and falls. Bonds were weaker, due to selling pressure, banks irregular and tin ventures were rather active.

Melbourne Sales. Industrials were fairly steady, barrier stock maintained its improvement and gold-mining was irregular. Mount Coolon was the most active, on latest

METAL MARKET (United Press Assn.—Telegraph Copyright.) (Rec. 8.15 p.m.) London, July 21.

LONDON MARKETS The Department of Agriculture has received the following cablegram, dated July 18, from the High Commissioner for New Zealand in London:— Tallow.—The Spot market is quiet and supplies are short. Quotations nominally are unchanged. Hemp.—Manila: The market is quiet. Value “K” grade £2l to £2l 5/-, according to position. Sisal: The market is steady, and fair business is being done. Sisal afloat was sold early this week for £26 10/- and later up to £26 15/- for October-December shipment. New Zealand: The market is quiet, with sellers at unchanged prices. No first range hand sales are reported. Fruit.—There is a slightly better tone in the market. Current prices are:— Apples: Dunn’s Favourite and Newtown Pippin, 6/- to 7/-; Delicious, 6/to 8/-; Sturmer, 6/6 to 8/6;. Statesman, 7/- to 9/-; Rosewood, 9/- to 10/-; Dougherty, 9/- to 11/-; Granny Smith, 9/- to 13/-. Pears: Winter Nelis, 10/to 14/-,

BURNSIDE STOCK SALE

KEEN COMPETITION FOR STORE CATTLE. (United Press Association.) Dunedin, July 22. There were 291 fat cattle yarded for the weekly sale at Burnside, the entry consisting principally of medium quality bullocks, with only a few consignments of heavy sorts and the usual proportion of cows and heifers. The sale opened with prices for bullocks showing a depreciation of from 15/- to £1 on last week’s closing rates, cows and heifers being about 10/- easier. Country butchers and graziers competed later in the sale, and this had the effect of hardening prices, so that the openii.j drop was recovered over the final races.

In the fat sheep section there was a large entry of 2400 penned. This consisted principally of ewes, and there were only odd consignments of wethers, which were confined principally to medium quality descriptions, with only odd pens of heavy grades. It was noticeable that hoggets were forward in larger numbers than has been the case recently. The sale opened with slack competition, wethers showing a decline of 1/- a head. All classes of ewes were about 3/- easier than the high rates ruling at the previous market. Outside competition had a beneficial effect on the market, and, as the sale progressed, prices recovered, heavy ewes, in particular, meeting with brisk competition. Towards the conclusion of the sale prices had an easing tendency. There was a small yarding of 101 fat pigs, with equal proportions of baconers and porkers. The sale opened firmly and continued on a higher basis than last week, prices appreciating by about 3/- to 5/- a head.

The entry of store pigs totalled 60, a complete clearance being made at satisfactory rates. The entry of 60 dairy cows included a few young close-to-profit sorts. The best price obtained for these was £9. The store cattle numbered about 200. The few pens of steers offered were sold under keen competition, the top price obtained being for four-year-old good coloured sorts.

Vealers experienced a buoyant market and values for boner and grazier cows showed little variation on the current rates. ADDINGTON MARKET FAT SHEEP VALUES FALL. (United Pi ess Association.) Christchurch, July 22. Fat sheep fell sharply at Addington to-day, the best ewes being to 4/cheaper and good wethers 3/-. The yarding was the second heavy one in succession. Extra prime heavy wethers made to 4/4, prime heavy 29/- to 32/ 6, prime medium-weight 26/- to 28/6, medium 23/6 to 25/-, light to 23/-, extra prime heavy ewes to 34/7, prime heavy 24/6 to 28/-, prime mediumweight 22/6 to 24/-, ordinary 20/- to 22/-, light to 19/6. Store Sheep.—The entry was smaller with a good offering of ewes. For the best, over 30/- was paid and one small pen of 4, 6 and 8-tooths made, 34/6. Prices were fully up to last week s and were better for young sorts. A small entry of wethers sold strongly. Fat Cattle.—There was an entry of 455 with a bigger proportion of good beef. A few trucks were forward from Southland. Early in the sale values were weaker by 10/- a head and though at the end better class beef recovered, others did not. Extra prime heavy steers made up to £l6 17/6, prime heavy £ll 10/- to £l3 5/-, prime medium weight £9 10/- to £ll, ordinary £5 15/- to £8 10/-, light to £5 5/-, extra prime heifers to £ll 17/6, prime £6 5/- to £9, medium £4 15/- to £6, light to £4 10/-, extra prime cows to £l2 7/6, prime £5 10/- to £B, medium £4 5/to £5 5/-, light and aged £4. 'Hie vealer entry was small and of inferior quality. Values recovered the drop of 5/- last week for the best and less for other sorts. Store Cattle.—The sale was a firm one, with a good demand for quality. Dairy Cattle.—There was an entry of moderate class. The sale was dull, prices easing by JO/-. Fat Pigs.—The entry of porkers was large and the price easier. Baconers were firm. Choppers sold up to £6 6/-, porkers 30/6 to 46/6, an average of 51d. to 6d. a lb. Baconers averaged 51d. to 6d. a lb. FOREIGN EXCHANGES NEW ZEALAND CURRENCY BASIS. The Bank of New South Wales, Dunedin, announces the following rates of foreign exchange on a New Zealand currency basis: on Buying Selling

COLOMBO TEA SALE (United Press Association.) Dunedin, July 22. Mr L. M. Wright has received the following cabled report on the Colombo tea sale of July 14:— “At yesterday’s auction of 2,500,0001 b the market for all grades was irregular and easier, the quality of the offerings being good. At next week’s auction a total of 1,750,000 has been catalogued for sale.” THE PRICIToF GOLD (United Press Assn.—Telegraph Copyright.) London, July 21. The price of gold is £6 18/8 an ounce.

Government debentures. Buyers Sellers. £ c c £ s d Stock, 31 p.c.. 1938-43 102 12 6 —— Stock, 31 p.c., 1938-52 102 12 6 Stock. 31 p.c., 1939-43 102 12 6 —— —-- Stock, 31 p.c.. 1939-52 102 12 6 Stock, 4 p.c., 1940 100 0 0 — Bonds, 4 p.c., 1940 100 0 0 —— Stock, 4 p.c., 1946 104 15 0 — Bonds, 4 p.c., 1946 104 15 0 Stock, 4 p.c., 1949 104 15 0 Bonds, 4 p.c.. 1949 104 15 0 — Stock, 4 p.c., 1955 104 15 0 ■ ■ Bonds, 4 p.c., 1955 104 15 0 — Banks Australasia 11 18 0 Commercial 0 18 5 — National >t New Zealand ,— 3 9 0 New South Wales — 33 0 0 New Zealand 1 19 6 2 0 6 New Zealand Long “D” issue 1 8 0 Union of Australia 9 6 0 — Breweries N.Z. Breweries (Shares) 2 13 9 — Coal. Kaitangata 1 4 0 Westport Stockton 1 2 9 Insurance. National -— 0 18 10 Loan and Agency. National Mortgage “B” issue — 1 13 0 N.Z. Loan and Mercantile — 34 0 0 Wright, Stephenson and Co. (pref.) — 0 19 0 Meat Companies. N.Z. Refrigerating (20/- paid) 1 0 0 (10/- paid) 0 9 8 Southland Frozen Meat.— (£1 ord.) 3 16 6 (10/- ord.) 1 18 3 (£1 oref.) ■ 3 16 6 South Otago Freezing Co. 7 12 0 — Shipping Howard Smith 0 18 to 0 19 6 Huddart-Parker (pref.) 1 7 9 —— — Union Steam Ship Co. (prel.) 1 6 0 — Miscellaneous. Associated News — 1 3 6 Australian Glass 4 10 0 ——— Colonial Sugar Co 43 0 0 —— D.I.C. (pref.) — 1 4 3 Dominion Fertilizer 1 5 0 —— Dominion Rubber Co. 1 10 0 Donaghy’s Rope and Twine 2 13 0 Dunlop Rubber (Aust.) 0 18 4 Milburn Lime and Cement 2 2 0 —— N.Z. Drug — 4 0 0 N.Z. Farmers’ Fertilizers 1 2 3 1 3 0 N.Z. Guarantee Corporation 0 5 5 — N.Z. Paper Mills ■ • —- 1 7 0 Woolworths (Sydney) 2nd pref. — 1 6 3 Woollen Mills Mosgiel 9 10 0 — Wellington Woollens 6 4 0 — Mining. Broken Hill 3 13 6 — (cont.) 2 14 0 — Big River 0 2 2 Electrolytic Zinc (ord.) 2 1 0 '■■■■ (pref.) 2 3 3 — Gillespie’s Beach 0 1 11 0 1 3 Goldfields Dredging — —— 0 0 4 King Solomon 0 1 6 0 1 10 Mount Lyell 1 6 0 — Mount Morgans — 0 15 0 Nokomai — 0 2 0 Skippers 0 0 3 0 0 4 Waitahu 0 2 3 0 2 9 Waipapa — 0 1 1 Waimumu 0 0 8i — Sales Reported.

£ s d Bonds 1940, 4 p.c. 101 0 0 Stock, 1939-43, 3| p.c. 102 15 0 Stock 1939-43, 3-J p.c. 102 15 0 Mt. Eden 1942, 4! p.c. (2) 104 0 0 Gisborne Sheepfarmers, 1941, 6| p.c. 101 0 0 Commercial Bank of Australia 18 10 Bank of New Zealand (2) 2 0 4 Bank of New Zealand 2 0 5 National Insurance 18 8 Farmers’ Auctioneering (A pref.) 1 3 0 Goldsbrough Mort 1 11 0 Auckland Gas (contr.) 18 9 Taupo Totara (preference) (16/- paid) 14 6 Dominion Breweries (2) 1 7 6 Australian Glass 4 13 0 Broken Hill Proprietary (3) 3 14 0 Dunlop Perdriau 18 8 Farmers’ Trading 19 8 G. J. Coles 3 19 9 Morts Dock 12 9 Morts Dock 12 4 New Auckland Laundry 19 6 Farmers’ Fertilizer 1 2 4 Farmers’ Fertilizer 1 2 3 New Zealand Newspapers 2 0 6 Woolworths (N.Z.) 5 12 6 Golden Dawn 4 3 Mataki 1 5 Waihi Junction 3 6 Waihi Junction 3 7 Unofficial. Selfridge’s (Australasia) (contr. 5/- paid) 10 0 Shillings Ltd. (12/6 paid) 16 3 WELLINGTON. £ s d Mount Morgan (Tuesday) 14 7 Union Steam Ship Company (pref.) 1 6 3 Northern Steam Ship Company 5 9 Staples’ Brewery 1 15 6 New Zealand Breweries 2 14 3

Broken Hill Proprietary (2) 3 14 3 Broken Hill Proprietary (cont.) 2 15 3 Dunlop Perdriau 18 8 Woolworths (New Zealand), Ltd. 5 12 6 New Zealand Refrigerating 1 0 3 Nemona 1 6J Unofficial. Woolworths, Ltd. (Tuesday) 5 14 6 Woolworths, Ltd. 5 15 0 Woolworths, Ltd. 5 15 0 CHRISTCHURCH. Listed. £ s d Commercial Bank of Australia (cum div.) 18 9 Commercial Bank of Australia 18 8 P. and 0. (def. stock) 1 7 0 British Tobacco 2 0 6 Broken Hill Proprietary (5/paid) 2 15 3 Dunlop Rubber 18 7 Dunlop Rubber 18 6 Electrolytic Zinc (pref, cum div.) 2 3 9 G. J. Coles (cum div.) 3 18 6 Hume Pipe (Australia) 1 0 11 Morts Dock (cum div.) 12 2 Big River 2 Oi Mount Lyell (2) 1 7 3 Mount Morgan (2) 14 6 Sales Reported. Bank of New Zealand 2 0 0 Dalgety and Company 9 0 0 Goldsbrough Mort 1 10 10 Invincible Building Society (Tuesday) 4 17 6 Wellington Woollens 6 5 0 Broken Hill Proprietary 3 14 0 Broken Hill Proprietary 3 14 6 Broken Hill Proprietary (15/— paid) 2 15 2 Broken Hill Proprietary 2 15 3 G. J. Coles 3 19 9 Morts Dock (cum div.) 12 10 Woolworths, Sydney (second pref.) 1 6 0 Mount Lyell 1 7 4 DUNEDIN. £ s d Bank of New Zealand 2 0 0 Bank of New Zealand 2 0 3 Anthony Hordern 18 11 Morts Dock 12 9 New Zealand Breweries (2) 2 14 2 Mt. Lyell (5) 1 7 3

Sales: — £ s d Bank of New South Wales 33 7 6 Commercial Bank of Sydney 20 13 0 Bank of New Zealand 2 1 0 Howard Smith 19 1 Australian Gas (A) 7 14 6 British Tobacco 2 1 3 British Tobacco (pref.) 1 8 6 Tooth’s Brewery 2 13 9 G. J. Coles 3 18 9 Australian Glass 4 14 0 Winchcombe Carson 1 12 6 Wilcox Mofflin 11 6 Henry Jones 2 3 9 Millaquin Sugar 2 1 6 Fairymead Sugar 1 12 41 Electrolytic Zinc 2 2 41 Australian Securities 9 8 Australasian Paper 1 15 3 Woolworths (ord.) — Buyer 5 14 6 Seller 5 15 0 Sale 5 15 0 Mount Lyell 1 7 101 Broken Hili Proprietary 3 15 0 Broken Hill Proprietary (new) 2 15 9 South Broken Hill 5 14 6 North Broken Hill 9 0 0 Zinc Corporation 4 2 0 Placer Development 5 3 6 Puchong Tin 1 0 0 Briseis Tin 5 0 Sulphide Corporation 13 4 Emperor 15 6

developments. £ s d Commercial Bank of Australia 19 0 National Bank (£5 paid) 7 2 0 National Bank (£10 paid) 14 6 0 Howard Smith 19 0 Carlton Brewery 2 19 3 G. J. Coles 3 19 0 Australian Iron and Steel (pref.) 1 9 6 Australian Glass 4 13 6 Dunlop Perdriau 18 9 Electrolytic Zinc 2 2 6 Electrolytic Zinc (pref.) 2 4 3 Mount Lyell 1 7 9 Broken Hill Proprietary 3 14 6 North Broken Hill 9 0 0 South Broken Hill 5 14 6 Zinc Corporation 4 2 0 Emperor 15 4 Lolpma 1 3 41 Mount Coolon 7 10~ Hums Pipe 1 0 9 Melbourne Electric Stock 1 0 3 General Motors 1 4 0 Kauri Timber 1 4 0 Myers 1 14 la United Provisions 14 11

Metals arc quoted as follows:— 21. d July 20. d July £ s £ s Copper— Standard, spot 37 11 10i 37 15 7J Forward 37 18 U 38 1 10J Electrolytic 41 10 0 41 17 6 to 42 0 0 42 0 0 Wire Bars 42 0 0 42 0 0 Lead — Spot 16 2 6 16 10 0 Forward 16 5 0 16 10 0 Spelter— Spot 13 13 9 13 18 9 Forward 13 18 9 14 3 9 TinSpot 191 5 0 189 12 6 Forward 187 15 0 186 2 6 Silver — Fine, per oz. 19id 19 ll-16d Standard, per oz. 21 3-16d 2L’d

London — f'NZ. to .ElOOstg T.T. 124 124/10/O.D. 123/10/124/8/9 Australia— £A to £100 N.Z. T.T. 101 100/10/O.D. 101 100/10/Fiji— CF to £100N.Z. T.T. 90/7/6 89 OD. 90/7/6 89 New York— Dollars to £1 N.Z. T.T. 4.06 3-8 4.02/$ O.D. 4.07 5-8 4.03'/ t Montreal— Dollars to £1 N.Z. T.T. 4.06 5-8 4.03 1-8 O.D. 4.07 7-8 4.03 5-8 Austria— Schillings to s N.Z. El T.T. 20.93 O.D. 20.95 Belgium— Belgas to £1 N.Z. T.T. O.D. 23.764 23.775 Czechoslovakia— 96.34 Crowns to £1 N.Z. T.T. — - O.D. —— 96.39 Denmark— 18.203 17.893 Kroner to £1 N.Z. T.T. O.D. 18.263 17.903 France— N.Z. T.T. 60.69 Francs to £1 ■ - O.D. —— 60.73 Germany— Reichmarks to £1 9.946 N.Z. T.T. O.D. ■ 9.951 Holland— 5.884 Florins to £1 N.Z. T.T. «■— O.D. —— 5.888 Italy— N.Z. T.T. Lire to £1 1 —— — O.D. — —— Java— 5.850 Florins to £1 N.Z. T.T. —— OD. —— 5.854 Norway— Kroner to £1 N Z. T.T. 16.183 15.893 O.D. 16.243 15.903 Sweden — 15.785 15.490 Kroner to £1 N.Z. T.T. O.D. 15.845 15.500 Switzerland — 12.244 Francs to £1 N.Z. T.T. — O.D. 12.249 Noumea — N.Z. T.T. 59.32 Francs to £1 ««• O.D. 59.38 Papeete— 59.47 Francs to £1 N.Z. T.T. — Hong Kong— N.Z. pence to dollar O.D. — 59.53 1 T.T. 18 7-16 19 15-16 O.D. 18 11-32 19 29-32 India and Ceylon— N Z. pence to rupee 1 T.T. 22 9-64 22 57-64 OD. 22 3-64 22 7-8 Japan — N.Z. pence to yen 1 T.T. 17 39-64 O.D. —— 17 19-32 Shanghai— N.Z. pence to 1 dollar T.T. 17 7-64 18 31-64 O.D. 16 59-64 18 15-32 Singapore— N.Z pence to 1 35 31-64 dollar T.T. 34 27-64 O.D. 34 15-64 34 15-82