NEW ZEALAND EXCHANGES

Southland Times, Issue 22969, 15 August 1936, Page 4

NEW ZEALAND EXCHANGES

Little Improvement In Turnover GENERAL SECTION STEADY The turnover on the stock exchanges if. the Dominion this week shows little improvement. The general section had a steady turnover, but bank, insurance, and pastoral companies’ shares were very quiet. There was a steady demand for Government securities, but very little business was transacted, sellers being scarce. All lines of the 4 per cent, issues were asked for during the week jt slightly increased figures, a line of 1949 stock changing hands at £lO5 10/-. Tax free stocks had buyers at £lO2 15/-, but no quotations came from sellers. In banking shares, New Zealands opened at 40/-, but dealings were later done at 39/10. At the present dividend rate, the return at that figure is slightly over 5 per cent. Commercials had very little inquiry and limited business was done hi this bank’s shares at 18/—. Nationals of New Zealand brought 63/-, later going at 62/9, this being a slight drop on last week’s figures. Union Banks were opened at £9 8/- to £9 9/-, more being procurable at £9 10/-. Australasias went unchanged at £ll 16/-. Bank of New South Wales shares brought £32 15/-, further sellers quoting £33. Nationals of Australasia dropped back to £6 19/6, a few sales being reported at that price. Insurance Section. There was very little business done in the insurance section. Nationals were quiet and easier at 18/3. South British fell back to 89/9 and were lightly dealt in at that price. Standards and New Zealands were not in demand, no business being reported in either of these companies’ shares. Pastoral companies’ shares, too, were inactive. Dalgety’s continue to be offered at £9 2/6. Goldsbrough Morts had buyers at 31/-. Wright, Stephenson’s preference were quoted at buyers 18/3, sellers 18/9. The frozen meat section was represented in the sale list with New Zealand Refrigerating Company’s contributing shares, which show a steady market. Sales were made at 9/8 and 9/9. W’oollen companies’ shares experienced a quiet period. Kaiapoi (ord.) were placed at 14/10, more being wanted at 14/9. Kaiapoi (pref.) had buyers at 18/3. Bruce Woollens (ord.) had sellers at 14/6 and the quotation for Mosgiels was buyers £9 10/-, sellers £9 17/6. The annual report of the Wellington Woollen Company discloses a satisfactory year. The net profit is £20,081, compared with £16,498 for 1935. The final dividend on ordinary shares is 31 per cent., making, with the interim dividend, a total distribution of six per cent; last year the dividend rate was 5 per cent. The preference shareholders well also receive 6 pel’ cent. Bigger Mining Turnover. There was an increase this week in the turnover in the mining section. Mount Morgans were again active with a wide range of sales from 14/1 down to 13/9. The market for Mount Lyells moved up still further and touched 30/early in the week. Yesterday there was business done at 29/8 with buyers firm at 29/6. Martha Goldmining eased to 17/10 and latei - to 17/6. Electrolytic Zincs recovered from last week’s slight setback, business being reported during the last few days at 41/6 and 41/7 for the ordinary share and 43/6 and 43/7 for the preference issue. Waihi Grand Junctions are steady and fairly active at 3/7. A number of transactions was reported in King Solomons at 1/- to 1/1. Skippers show no change in price, selling at 3Jd. Gillespie’s were done at 1/21 and later at 1/3. Waipapa Beach are weaker at 91d. Maori Gully, which have been quiet for some time, had several sales during the week at 7d. The general section was responsible for the bulk of the business done. The Australian Glass Company’s shares moved up to 92/3, but there was not a great number of sales reported. Australian Iron and Steel are easier at 25/6. Broken Hill Proprietary shares were again active, a big list of sales being reported in this line from 73/3 to 74/4. The same company’s contributing shares were firmer at 54/1 to 54/9. G. J. Coles, Ltd., recovered lost ground, the market touching 80/- during the week and latest sales being at 79/6. Active Market. Woolworths (N.Z.) sold at £5 7/.nd £5 8/-. Woolworths (Sydney) moved up from £5 11/- to £5 18/6, the market for this line being quite active. Hume Pipe (Australia) are steady at 20/8 and 20/9. Dunlop Rubbers eased early in the week to 18/2, latex' improving a little to sell at 18/4 and 18/5. Some business was done in Colonial Sugars at £42 15/- to £43, the market closing with buyers at the former figure. British Tobaccos brought 39/9 and 40/-, showing a slightly easier tone. New Zealand Breweries were quoted at buyers 52/-, sellers 53/9, showing a wide market. Dunedin Breweries were placed at 30/- and sales of Dominion Breweries were reported at 29/3, 29/6 and 30/-. New Zealand Guarantee Corporation shares moved up to 5/8, more being asked fox' at 5/6. Quite good business was done in Dominion Fertilizers at 25/6, the market remaining steady at that figure. Milburn Limes moved up to 43/6 and there were dealings reported in New Zealand Drugs at 75/-. MINING RETURNS (United Press Association.) Greymouth, August 14. The Nemona dredge this week secured 71 ozs 10 dwts from 14,600 yards in 120 hours and the Argo dredge 10 ozs in 132 hours from 9500 yards. THE PRICE OF GOLD (United Press Assn.—Telegraph Copyright.) London, August 13. The price of gold is £6 18/4 per oz. BRADFORD TOPS (United Press Assn.—Telegraph Copyright.) (Rec. 5.5 p.m.) London, August 13. There is a holiday at Bradford and no quotations are available. There has been moderate business in tops, with hardening prices. Yarns are firm. THE WHEAT MARKET (United Press Assn.—Telegraph Copyright.) (Rec. 5.5 p.m.) London, August 13. Wheat.—Cargoes are firmer and parcels are firmer. Futures: — London: August delivery, 35/4; November, 35/5. Liverpool: October, 7/5 7-8, December. 7/4 1-8; March, 7/OJ. The spot trade is slower. Australian, ex ship, 40/3 to 41/-.