SHARE MARKET

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

SHARE MARKET

INVERCARGILL STOCK EXCHANGE GENERAL ACTIVITY There was activity in all sections at yesterday’s call-over on the Invercargill Stock Exchange. Sales were reported of Australian Iron and Steel (pref.) at £1 5/8, Mount Lyell at £1 9/2, King Solomons at 1/1, Waimumus at Old, New Zealand Refrigerating at 9/8, Hume Pipe at £1 0/7, and Wright, Stephenson and Co. at 18/6. Prices were quoted as follows: — Government Debentures.

Sales Reported. Australian Iron and Steel (pref.), £1 5/8. Mount Lyell, £1 9/2. King Solomon, 1/1. W r aimumu, 9jd. N.Z. Refrigerating Co., 9/8. Hume Pipe, £1 0/7. Wright, Stephenson and Co. (pref.), 18/6. NORTHERN EXCHANGES SALES ON ’CHANGE

OTAGO PRODUCE MARKETS POTATOES STILL FIRM. (United Press Association.) Dunedin, August 14. Little interest is being displayed in the milling wheat market as there are now few lines oi sound quality to oft'er. The fowl wheat market is steady. With only a limited quantity on offer the present value is 4/9, sacks extra ex truck Dunedin, with higher prices ruling for small lots, ex store. Although stocks of oats are short, there is no quotable change in prices. The market is firm with A gartons worth 3/3 f.o.b.s.i. and B's 3/1. There are no offerings from the country and merchants are working on limited stocks held in stores. An occasional ordcx- is being placed with the North Island on the above basis of prices but the demand is not very keen. Values fox- chaff remain unaltered with supplies still being drawn from Canterbury. Sales are on the small size but an occasional truck load is being sold at £4 10/- to £4 15/- pei' ton, sacks extra ex truck. Most of the trade, however, is in small quantities ex the store, values ranging from £5 to £5 5/-. Only good quality is inquired for, medium and pool' chaff being difficult to sell. The recent firming in the potato market has been maintained but there is not a great deal of business going through at the increased prices as buyers are not very confident as to the future of the market. Sufficient tubers are held in stores to cover requirements until new season’s tubers arc available. Growers, on the other hand, are inclined to hold their stocks in the hope that there may be further exports to South America. The demand is confined to freshly-dug lines and these have been sold during the week at up to £4 7/6 pex- ton, sacks included. Potatoes which require picking over are worth about £4 pel' ton but they do not meet with any great demand. Seed markets are firm with some merchants still prepared to buy in anticipation of export overseas. During the past week there has been a lull in buying from London but it is thought that this easing off will only be temporary. Ryegrass, Dogstail and cowgrass are firm at increased prices. Cocksfoot is also firm and good quality lines are now difficult to secure. -Most of the cocksfoot at present on offer is of an indifferent quality. Fruit Report. During the week there has been a much brighter demand for fruit and vegetables. Oranges are in short supply in the wholesale houses. Anothei' consignment of South Australian navels is due to arrive here by the Waitaki on Wednesday next. A line of Island oranges is due at Wellington ex mail steamer on Monday. The first of the new season’s Californian grapes arrived during the week. A further shipment will arrive next week. Choice quality apples have sound inquiry. Othex- sorts are slow of sale. Small lots of pears, mostly from the Canterbury Cool Stores, are still coming forwax'd.

CANTERBURY PRODUCE MARKETS SMALL SEEDS IN DEMAND. (United Press Association.) Christchurch, August 14. Business in the grain and produce markets this week has been to some extent upset by the holiday and in general there has been little alteration from last week. Potatoes remain firm mainly because of a report that a further shipment for South America will be made at the end of the month. The business with other parts of New Zealand is small, the demand from the North Island outports which caused a flutter at the end of last week having fallen off. Farmers are disposed to hold until the export position becomes clarified and this has meant a further restriction on business. The Wingatui, which will complete loading for Auckland to-day, will lift about 4000 sacks from Lyttelton in addition to 6000 sacks taken aboard at Timaru. This quantity is likely to keep the Auckland market satisfied in the meantime. Prompts are worth £4 5/per ton on trucks, for whites, £4 10/fox- Sutton’s and £4 15/- fox’ Dakotas. Septembers are quoted at £6 5/- f.0.b., but there is practically no business at that price. The small seeds market remains healthy as spring demand has begun to make itself felt. Prices rose sharply following an entry of export business into the calculations but, after the rise, inquiry from this source became severely restricted. Stocks of most lines are plentiful in the Canterbury stores and|

much seed has been held in the country so there will be ample supplies to meet any ordinary demand. Chaff remains firm because of a steady demand from the North Island. The quotation is £3 to £3 2/6 on trucks with up to £3 5/- for good lots at close stations. Fowl wheat continues steadily to rise, having been checked by freer offerings attracted by an increase last week. A fair quantity of fowl wheat is still held in the country by farmers who hope to get their grain away for milling. There appears to be little chance of this because beside reasonably plentiful stocks of New Zealand wheat, both wheat and flour have been imported. DAIRY "PRODUCE (United Press Assn.—Telegraph Copyright.) London, August 13. The butter market is firm. Danish, 126/- to 128/-; New Zealand choicest salted and unsalted, 118/- to 119/-; Australian, 117/- to 118/-. Cheese.—The market is firm. New Zealand white, 67/-; coloured, 65/- to 66/-. No Australian cheese is offered. A. S. Paterson and Co. Ltd., have received the following cable from their principals, J. and J. Lonsdale and Co., Ltd., London:— Butter.—Market steady. New Zealand, 118/- to 118/6; Australian, 117/6; Danish, 107/-; landed cost, 128/-. Cheese.—Market firm. White cheese, 68/-; coloured, 65/-. SALE OF WOOL ODDMENTS (United Press Association.) Auckland, August 14. Highly favourable prices for crutchings were realzed at the sale of wool oddments at Auckland. There was keen competition from a full bench of buyers representing most of the wool purchasing countries. The catalogue comprised about 650 bales, mostly crutchings, but with a few odd lots of fleece wools. Practically all lines of crutchings were eagerly sought, the bulk being taken on account of the United States and Japan. Good to super crutchings realized from S/.d to 9Jd pel' lb, medium to good 71d to B,'[d and inferior and seedy sjd to 7d. These prices represent a rise of about 40 per cent, on the values fox’ crutchings at the Winter wool sale held at Auckland last year. Bettex- class crutchings in August last year realized up to 6’d pei’ lb. A rise of about Id was shown on values ruling in March last.

There was a clearance of about 97 pexcent. in crutchings—practically the entire catalogue. Crutchings are used largely in the carpet trade and the market fox’ carpet wools is very firm at present. To-day’s sale prices were actually above the rates fox - fleece wools. GOVERNMENT - SECURITIES (United Press Assn.—Telegraph Copyright.) (Rec. 5.5 p.m.) London, August 13. Following are the latest quotations fox- Government securities, compared with the prices ruling last week:—

MELBOURNE PRODUCE MARKETS Melbourne, August 14. Wheat.—4/81 to ? /9 a bushel. Flour.—£ll 17/6 a ton. Bran.—£s 15/- a ton. Pollard.—£6 a ton. Oats.—2/3J to 2/4 a lb. Barley.—English 3/2 to 3/3 a bushel. Maize.—s/- a bushel. Potatoes.—£7 5/- to £’< 17/- a ton. Onions.—£2o a ton.

Buyers Sellers £ s. d. £ s. d Stock, 34 p.c., 1938-43 102 15 0 —■ 1 ’ll '■■■ Stock, 31 p.c,, 1938-52 102 15 0 Stock, 34 p.c.. 1939-43 Stock, 34 p.c.. 1939-52 102 15 0 Stock, 4 p.c., 1940 101 5 0 Bonds, 4 p.c., 1940 101 5 0 Stock. 4 p.c.. 1948 105 0 0 Bonds. 4 p.c. 1946 105 0 0 Stock, 4 p.c.. 1949 105 5 0 —— Bonds, 4 p.c., 1949 105 5 0 — Stock, 4 p.c., 1955 105 o 0 — Bonds, 4 p.c., 1955 105 b 0 Banks Commercial 0 17 8 — National of New Zealand 3 0 0 3 4 0 New South Wales —— 33 0 0 New Zealand 1 19 0 2 0 0 New Zealand Long “D” issue — 1 9 0 Breweries. Dunedin Brewery Co. 1 9 0 —— N.Z Breweries (Shares) — 2 13 0 Coal Kaitangata 1 0 9 1 2 3 Westport Coal 1 3 3 Insurance. National — 0 18 5 Standard — 3 o 0 Loan and Agency. Dalgety and Co. — 9 2 6 Goldsbrough. Mort and Co. 1 10 6 — National Mortgage — 2 11 6 Perpetual Trustees (Dunedin) — o 0 Wright, Stephenson anc Co. (pref.) — 0 18 9 Meat Companies. N.Z. Refrigerating(20/- paid) — 1 0 3 (10/- paid) 0 9 6 — Southland Frozen Meat — (£1 ord.) — — 3 16 0 (£1 pref.) — 3 16 0 South Otago Free: ing Co. 7 13 ■ 0 Shippin’. Howard Smith — 0 19 3 Huddart-Parker (pref./ 1 7 9 111 Union Steam Ship Co. (pref.) I 6 0 P. and 0. Stock 1 8 0 — Miscellaneous. Australian Glass — 4 12 9 Broken Hill Proprietary 3 14 0 o 14 9 D.I.C. (pref.) 1 3 9 — Dominion fertilizer 1 5 0 1 5 7 Dunlop Rubber (Aust.) ——— 0 18 6 Hume Pipe — 1 0 10 Milburn Lame and Cement 2 u — N.Z. Drug 3 15 0 N.Z. Farmers’ Fertilizers — 1 2 6 Otago Daily Times —-— 2 8 3 Wilson’s (N.Z.) Portland Cement 2 0 0 Woolworths (New Zealand) 5 5 0 5 10 0 Woollen Mills. Bruce 0 14 6 Kaiapoi (ord.) 0 14 10 Mining Big River 0 2 0 — Electrolytic Zinc (ord.) 2 1 0 — Gillespie’s Beach 0 1 3 0 1 4 Goldfields Dredging — 0 0 34 King Solomon 0 0 114 0 1 2 Mount Lyell 1 8 6 1 9 6 Mount Morgans 0 13 9 — — Nokomai 0 1 9 — Okarito 0 2 9 ——— Skippers 0 0 3 0 0 3.1 Waihi Grand Junetion —- — 0 3 9 Waitahu — 0 2 3 Waipapa 0 0 94 0 0 114 Waimumu 0 0 94 0 0 104

AUCKLAND. £ s d Stock, 15/6/55, 4 p.c. 105 5 8 Auckland City, 1/1/44-36, 4.J p.c. 105 0 0 Commercial Bank of Australia 18 0 Bank of New Zealand (3) 1 19 9 do. (D mart) 1 8 9 New Zealand Insurance (3) 3 2 6 South British 4 9 0 Traders’ Finance 13 6 Renown Collieries 13 9 Taupiri 15 10 Devonport Ferry 1 1 9 Huddart Parker (pref.) 1 8 1 Kauri Timber 1 4 8 Dominion Breweries (2) 1 9 6 New Zealand Breweries 2 12 0 Australian Glass 4 12 0 do. 4 11 9 do. 4 11 6 Broken Hill Proprietary 3 14 9 do. 3 14 6 Dunlop Perdriau 18 1 Electrolytic Zinc (pref.) 2 3 6 Farmers’ Trading 18 11 do. (B pref). 1 1 6 do. 1 1 4 G. J. Coles 4 1 0 do. 4 1 4i Mataki 1 3 Unofficial List. Selfridges (Aus.) 1 5 10 WELLINGTON. £ s d Gas 1 18 6 New Zealand Insurance 3 2 6 New Zealand Refrigerating (10/-) 9 Broken Hill Proprietary 3 15 0 1

31 p.c. Inscribed Stock 1939-43 (2) 103 7 6 New Zealand Insurance 3 2 6 Wellington Woollen (ord.) 6 9 6 New Zealand Brew'eries 2 12 0 Australian Glass (7) 4 11 9 Claude Neon 2 11 41 Dental and Medical Supply 11 0 Sharland (ord.) 1 0 0 Silverton Tram 1 18 0 King Solomon 1 ’ 21 Waihi Investments 9 11 Mount Morgan 13 11 Broken Hill Proprietary (2) 3 15 0 Broken Hill Proprietary 3 14 101 Broken Hill Proprietary (6) 3 14 9 CHRISTCHURCH. £ s d Commercial Bank of Australia 18 0 Commercial Bank of Australia 18 1 National Bank of Australasia (£5 paid) 6 19 0 Bank of New Zealand (2) 1 19 9 Kaiapoi Woollens (17/- paid) (4) 15 6 Kaianoi Woollens (7/- paid) . (2) . „ ' 6 8 Timaru Brewery (in liquidation, ex distrib.) 3 3 British Tobacco 2 0 6 British Tobacco 2 0 5 Broken Hill Proprietary 3 14 5 Broken Hill Proprietary 3 14 6 G. J. Coles 4 1 6 G. J. Coles 4 1 9 G. J. Coles (3) 4 2 0 Hume Pipe (Australia) 1 0 7 Morts Dock (ex div.) 10 9 Wilcox Mofflin 12 8 Brian Boru (2) 3] Maori Gully 71 Skippers 3? Mount Lyell 1 9 1 Mount Lyell (3) 1 9 0 Mount Lyell 1 9 1 Mount Lyell 1 9 1 Mount Morgan 13 11 Sales Reported. 100 Goldsbrough Mort 1 11 5 100 New Zealand Refrigerating (10/- paid) 9 9 100 Dominion Breweries 1 9 6 300 Consolidated Brick 9 10 300 Consolidated Brick 9 9 100 Woolworths, Sydney (2nd pref.) 1 6 3 200 Nokomai (late sale) 0 1 11 500 Sulphide Corporation 14 9 500 Sulphide Corporation 14 101 DUNEDIN. £ s d Bank of New Zealand (odd parcel) 1 19 6 National Insurance 18 3 Broken Hill Proprietary 3 14 9 Broken Hill Proprietary 3 14 8 Regent Theatre 1 0 8 Mt. Lyell 1 9 0 4 p.c. Stock, 1943-46 105 7 6 4 p.c. Stock, 1946-49 105 7 6 4 p.c. Stock, 1952-55 105 5 0

1 iug. 6. Aug. 13. British— Consuls 85 0 0 85 0 0 Funding Loan, 4 p.c. 117 10 0 117 15 0 War Loan, 31 p.c. 106 15 0 106 12 6 Con. Loan, 31 p.c. 108 0 0 108 0 0 Victory Bonds, 4 p.c. 116 10 0 116 10 0 Commonwealth— 5 p.c., 1945-75 110 6 3 110 12 4 3 p.c., 1955-58 101 17 6 101 17 6 4 p.c., 1943-48 105 7 6 105 10 0 33 p.c., 1948-53 104 0 0 104 0 0 31 D.C., 1936-37 99 17 6 99 13 9 31 p.c., 1956-60 94 New South Wales— 10 0 94 15 0 31 p.c., 1930-50 100 18 9 101 7 6 4g p.c., 1935-45 100 12 6 100 12 6 Victoria — 3 p.c., 1929-40 98 7 6 98 16 o 4| p.c., 1940-60 105 13 9 105 10 0 5 p.c. 1945-75 110 6 3 110 6 3 Queensland — 3 p.c., 1922-47 98 10 0 98 15 0 5 p.c., 1940-60 108 7 6 108 13 9 South Australia— 3 p.c., 1916 or after 87 17 6 87 17 6 3 p.c., 1945-75 110 Western Australia— 5 0 110 7 6 4 p.c., 1942-62 102 5 0 103 1 3 Tasmania — 31 p.c., 1920-40 102 10 0 102 3 9 4 p.c., 1940-50 102 2 6 102 12 6 New Zealand— 41 p.c., 1948-50 107 1 3 107 0 0 31 p.c., 1940 102 10 0 102 12 6 4 p.c., 1945 100 13 9 100 17 6