COMMERCIAL

Southland Times, Issue 22956, 31 July 1936, Page 3

COMMERCIAL

SHARE MARKET INVERCARGILL STOCK EXCHANGE GOVERNMENT BONDS FIRMER Government bonds were firmer at yesterday’s call-over on the Invercargill Stock Exchange. The market is still very steady. Sales were reported of shares in Broken Hill Proprietary at £3 13/-, Mount Morgans at 14/7, and Wright Stephenson and Co., Ltd., (pref.) at 18/9. Prices were quoted as follows: — Government Debentures.

Sales Reported. 1 Broken Hill Proprietary, £3 13/-, Mount Morgans, 14/7. Wright, Stephenson and Co. (pref.), t, 18/9. i

NORTHERN EXCHANGES SALES oTF’CHANGE AUCKLAND.

I THE RESERVE BANK ! ASSETS AND LIABILITIES i (United Press Association.) Wellington, July 30. A Gazette issued to-night contains a statement of the assets and liabilities of the Reserve Bank of New Zealand as at the close of business on July 27:— [ liabilities. i£ s d 1. General reserve fund 1.300.000 0 0 2. Bank notes 10,177,703 0 0 * 3. Demand liabilities—(a) State 9.128.973 11 5 (b) Banks 6.372.640 15 7 (c) Other 149,822 1 3 4. Time deposits 5. Liabilities in currencies other than New Zealand currency I 6. Other liabilities 94.633 10 5 Total £27,423,771 18 8 Assets. £ s d 7. Reserve — (a) Gold 2,801.733 0 0 (b) Sterling exchange 22,129,378 16 6 <c) Gold exchange 8. Subsidiary coin 190.188 6 8 9. Discounts—(a) Commercial and agricultural bills (b) Treasury and local body bills 10. Advances—(a) To State or State undertakings (b) To other public authorities (c) Other 11. Investments 2.035.319 10 5 12. Bank buildings 13. Other Assets 267.152 5 1 Total £27,423,771 18 8 Proportion of reserve (No. 7. less No. 5) to notes and other demand liabilities 96.523 per cent. SYDNEY - STOCK EXCHANGE MARKET GENERALLY STEADY. (United Press Assn.—Telegraph Copyright.) (Rec. 9.30 p.m.) Sydney, July 30. The share market to-day was generally steady. Business in the industrial section was at recent rates. Tin shares were a little more active. Sales were:—

TEA AUCTION THE COLOMBO MARKET. J. Rattray and Son, Ltd., have received the following report on the tea auction at Colombo on Tuesday:— Good quality was offered with small supplies. The market was firm for common teas with advances in medium and fine kinds of £d to Jd a lb. THE PRICE OF GOLD (United Press Assn.—Telegraph Copyright.) London, July 29. The price of gold is £6 18/10 an ounce.

MINING RETURNS GOLDFIELDS. (United Press Association.) Dunedin, July 30. The Goldfields dredge reports a return of 7oz 4dwt for the week’s dredging. FOREIGN EXCHANGES (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, July 29. The following mean closing rates of foreign exchanges were quoted to-day compared with par:—

DAIRY PRODUCE LONDON QUOTATIONS. A. H. Turnbull and Co., Ltd., Christchurch, have received the following cable from their principals, W. Weddel and Co., Ltd., dated London, July 28:— Butter.—Danish, 127/-; New Zealand finest, 116/-; Kangaroos, 115/-. Cheese.—New Zealand white, 61/6; coloured, 63/6. The butter and cheese markets are quiet and easier in tone. LONDON - RATES OF INTEREST (United Press Assn.—Telegraph Copyright.) (Rec. 6.30 p.m.) London, July 29. Discount and short-loan interest rates are as follows:— Day-to-day loans, 1 per cent.; fine trade bills (three months), 2 to 2| per cent.; bank bills (three months), 9-16 per cent; bank bills (six months), 11-16 per cent; Treasury bills (two months), 9-16 per cent.; Treasury bills (three months) 9-16 per cent.

METAL MARKET

(United Press Assn.—Telegraph Copyright.) (Rec. 9.30 p.m.) London, July 29. Metals are quoted as follows:—

WORLD’S SUPPLY OF TIN SIAM DEMANDS'FLAT RATE QUOTA. (United Press Assn.—Telegraph Copyright.) (Rec. 9.30 p.m.) Singapore, July 30. It is authoritatively understood that Siam is demanding a flat rate tin quota of 18,000 tons during 1937, 19,000 tons during 1938 and 20,000 tons in 1939, with an automatic increase whenever the international quota exceeds 75 per cent. sydney~Troduce MARKETS (United Press Assn.—Telegraph Copyright.) (Rec. 9.30 p.m.) Sydney, July 30. Produce is quoted as follows:— Wheat.—The market is very firm. Bagged grain at country sidings, 3/81a bushel, equal to about 4/3 ex trucks at Sydney. Flour.—£lo 10/- a ton. Bran and Pollard.—£6 a ton. Potatoes.—Tasmania, £9 10/- a ton; others, £7 10/-. Onions. —Victorian Brown, £l7 a ton. Maize.—Yellovz, 4/8 a bushel; white, 47/-. ADELAIDE QUOTATIONS. (United Press Assn.—Telegraph Copyright.) (Rec. 9.30 p.m.) Adelaide, July 30. Wheat.—Growers’ lots, 4/OJ. Flour.—Bakers’ lots, £lO 12/6. Bran and Pollard.—£6 10/-. Oats.—Algerian, 2/2 a bushel. Barley.—2/2 a bushel.

Buyers Sellers £ s. d. £ 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, 3£ p.<\. 1939-52 102 12 6 I. Stock, 4 p.c., 1940 101 0 0 — Bonds, 4 pc., 1940 101 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 — 12 0 0 Commercial 0 18 3 0 18 8 Commercial, pref., 4 per cent, (cum.) 9 0 0 — E. S. and A. Bank •— ———— 6 5 0 National of New Zealand 3 6 0 New South Wales *> n q 33 0 0 New Zealand 6 u y New Zealand Long “D” issue • 1 8 0 —— Breweries N.Z. Breweries (Shares) 2 12 3 Coal Kaitangata — 1 3 11 Westport Coal 13 0 Insurance. National 0 18 10 New Zealand 3 2 0 — Loan and Agency. Dalgety and Co. — — 9 2 6 Goldsbrough, Mort 1 and Co. 1 10 11 National Mortgage I “B” issue —■ 1 13 0 1 N.Z. Loan and Mercantile 34 0 0 i Wright, Stephenson 1 and Co. 1 (pref.) — 0 18 9 Meat Companies. N.Z. Refrigerating— (20/- paid) 10 0 1 0 6 1 (10/- paid) 0 9 6 Southland Frozen Meat.— (£1 ord.) 3 16 6 (10/- ord.) 1 18 3 <£ 1 nref) 3 16 6 South Otago Freezing Co. 7 13 0 — Shipping. Howard Smith 9 18 9 0 19 6 Union Steam Ship Co. (pref.) 16 0 — Miscellaneous. Associated News 12 6 1 3 6 Australian Glass .■ —• 4 11 0 British Tobacco (Aust.) 2 0 0 — D.I.C. (pref.) — 1 4 3 Dominion Fertilizer 15 0 Dominion Rubber Co. 1 10 0 Donaghy's Rope and Twine 2 12 11 Dunlop Rubber ! (Aust.) 0 18 5 ————— - I Milburn Lime and 1 Cement 2 2 0 N.Z. Drug 4 0 0 1 N.Z. Farmers' j Fertilizers 1 3 0 N.Z. Paper Mills 15 6 1 7 6 ! N.Z. Guarantee Cori poration 0 5 5 — N.Z. Paper Mills 15 6 1 6 9 Otago Daily Times 2 9 0 — Wilson's (N.Z.) Port - land Cement — 2 0 9 Woollen Mills. I Bruce 0 14 6 . Mosgiel 9 10 0 — Wellington Woollens 6 4 0 Minin 2 Broken Hill 3 12 9 Big River 0 2 0 0 2 2 Electrolytic Zinc (ord.) 2 16 — Gillespie’s Beach 0 13 0 1 4 Goldfields Dredging 0 0 3 King Solomon —— 0 1 6 Mount Lyell 16 9 Mount Morgans 0 14 6 - Nokomai 0 2 o L Skippers —. — 0 0 3 ‘h Waihi Investments 0 9 0 - Waihi Grand Junction 0 3 5 Waitahu 0 2 2 0 2 9 Waipapa 0 0 9 0 0 11 Waimumu 0 0 10 Junction Reward — 0 1 °

£ s d Stock, 1940, 4 p.c. 101 5 0 Mt. Eden 1949-54, 4.} p.c. 105 10 0 National Insurance (2) 18 6 New Zealand Farmers (B pref) 14 0 Westport Stockton 1 6 Northern Steam (contr.) 1 3 Kauri Timber 1 4 4 Kauri Timber (2) 1 4 6 Taupo Totara 10 9 Kaiapoi (contr.) 6 0 Australian Glass 4 9 6 Broken Hill Proprietary 3 12 6 Consolidated Brick (3) 9 6 Electrolytic Zinc (pref.) 2 3 5 Macky, Logan 1 0 0 New Zealand Newspapers 2 0 3 King Solomon 1 3 Skippers 3? Waimumu Sluicing 10J Unofficial. Shillings 16 0 Woolworths (Sydney) 5 12 O' WELLINGTON. £ s d Bank of New Zealand (Wednesday) 2 1 0 Wellington Woollen (ord.) 6 8 6 Procera (ord.) 1 10 3 Procera (ord.) 1 11 6 Procera (ord.) 1 13 0 Mossy Creek 1 7 Kauri Timber 1 4 4 G. J. Coles 3 16 0 Unofficial. Woolworths (Western Australia) Ltd. 5 17 0

Woolworths Ltd.' 5 11 0 CHRISTCHURCH. Unlisted. £ s d Macetown 3 Self ridges (Australasia) (new) 1 4 9 Sales Reported. Unlisted. Shillings, Ltd. (12/6 paid) 16 0 Listed. Goldsbrough Mort 1 11 6 New Zealand Guarantee Cor poration 5 6 New Zealand Refrigerating (10/- paid) 9 8 New Zealand Breweries 2 13 6 Timaru Brewery 3 3 Timaru Brewery 3 6 Timaru Brewery 3 5 Broken Hill Proprietary (15/ paid) 2 12 11 Electrolytic Zinc (ord., cum div.) 2 1 3 G. J. Coles 3 15 8 Kauri Timber 1 4 3 Procera Bread (4) 1 10 0 Big River (3) 2 1 Brian Boru 32 Mount Lyell 1 5 6 Mount Lyell (3) 1 6 9 Mount Morgan 14 4 Sales Reported. Mount Morgan 14 5 Bank of New Zealand (Wednesday) 2 1 0 Bank of New Zealand (4) 2 0 9 New Zealand Guarantee Corporation 5 6 Broken Hill Proprietary 3 13 0 Broken Hill Proprietary (15/paid) 2 13 0 Colonial Sugar 43 6 Consolidated Brick 9 6 G. J. Coles 3 16 3 New Zealand Drug 3 15 3 Mossy Creek 1 7 Procera Bread 1 13 9 DUNEDIN. £ s d Bank of New Zealand (Wednesday) 2 1 0 Bank of New Zealand (3) 2 0 9 Bank of New Zealand 2 1 0 Bank of New Zealand 2 0 10 National Bank of New Zealand 3 4 6 New Zealand Refrigerating (paid) 1 0 3 New Zealand Guarantee Corporation (2) 5 5 Consolidated Brick 9 6 Cox Brothers 2 17 0 Electrolytic Zinc (ord.) 2 1 6 Upper Watut (Wednesday) 6 0 Gillespie’s Beach 1 3 King Solomon 1 li Waimumu Sluicing 102 Waitahu 2 3

£ s d Commercial Bank of Sydney 20 10 0 Queensland National Bank 5 7 0 Mercantile and Mutual Insurance 1 12 0 Associated News 1 3 0 Howard Smith 19 14 Burns, Philp 3 13 9 British Tobacco 2 1 0 Tooth’s Brewery 2 13 3 Toohey’s Brewery 1 11 9 Dunlop Perdriau Rubber 18 9 Goldsbrough Mort 1 12 44 Wilcox Mofflin 11 10 Henry Jones 2 3 6 Electrolytic Zinc 2 2 0 David Jones ' 2 9 6 John McGrath 1 18 0 United Provisions 13 9 Woolworths (ord.) — Buyer 5 10 6 Seller 5 12 6 Mount Morgan 14 7 Mount Lyell 1 7 3 Broken Hill Proprietary 3 13 0 Broken Hill Proprietary (new) 2 13 3 Zinc Corporation 4 1 0 Kuala Kampar 14 1 Rawang Tin 9 2 Puchong Tin 1 0 4i Pungah Tin 1 7 3 Peninsula Tin 1 3 0 Briseis Tin 5 0 Sulphide Corporation 13 5 Placer Development 5 1 0 Melbourne Sales. Commercial Bank of Australia 18 9 National Bank (£5 paid) 7 0 0 Howard Smith 19 2 British Tobacco 2 1 0 G. J. Coles 3 17 0 Goldsbrough Mort 1 12 3 Electrolytic Zinc (pref.) ’ 2 3 G Mount Morgan 14 6 Mount Lyell 1 7 0 South Broken Hill 5 12 0 Emperor 15 0 Loloma 1 3 6 Herald and Weekly Times 3 8 6 United Provisions 13 9

Par. To-day. Paris, fr. to £ 124.21 75 63-64 New York, dol. to £ 4.886 5.0115-64 Montreal, dol. to £ 4.886 5.011 Brussels, belgas to £ 35 29.74 Geneva, fr to £ 25.221 15.35 Milan, lira to £ 20.43 63-9-16 Berlin, rmk. to £ 24.42 21.46} Stockholm, kr. to £ 18 159 19.39} Copenhagen, kr. to £ 18159 23.39} Oslo, fr. to £ 19.159 19.90 Vienna, schgs. to £ 34.585 261 Prague, kr. to £ 164.25 121} Helsingfors, m. to £ 103.23 227 Madrid, pesetas to £ 22.2215 363 Lisbon, escudos to £ 110 110} Athens, dr. to £ 875 529 Bucharest, lei to £ 318.6 674 Belgrade, dinars 275.31 220 Rio de Janiero, p. to milreis 8.892 4} Buenos Aires, p. to dol. 45.577 15 Montevideo, p. to dol. 57 39 7-16 Bombay, p. to rupee 10 16} Shanghai, p. to dol. . 14 13-32 Yokohama, p. to yen 24.57 14 1-64

July 28. July 29. £ s d £ s d Copper— Standard, spot 37 19 41 37 19 41 Forward 38 5 71 38 5 7J Electrolytic 41 17 6" 42 0 0 to 42 7 6 42 10 0 Wire bars 42 7 6 42 10 0 Lead— Spot 16 10 0 16 8 9 Forward 16 8 0 16 7 6 Spelter— Spot 14 0 0 14 1 3 Forward 14 3 0 14 3 9 TinSpot 179 12 6 184 5 0 Forward 176 7 6 180 17 6 Silver— Fine, per oz. 19 9-16d 19Jd Standard, per oz 21Jd 21d