COMMERCIAL

Southland Times, Issue 22992, 11 September 1936, Page 3

COMMERCIAL

SHARE MARKET INVERCARGILL STOCK EXCHANGE YESTERDAY’S CALL-OVER Prices were quoted as follows at yesterday’s call-over on the Invercargill Stock Exchange:— Government Debentures. '

NORTHERN EXCHANGES SALES ON ’CHANGE AUCKLAND.

THE RESERVE BANK ASSETS AND LIABILITIES (United Press Association.) Wellington, September 10. 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 September 7:— Liabilities.

£ s d 1. General reserve fund 1,500,000 0 0 2. Bank notes 11,061,011 10 0 3. Demand liabilities—(a) State 5.870,470 19 0 (b) Banks 6,073,391 11 6 (c) Other p 255,994 10 10 4. Time deposits 1 5. Liabilities in currencies other than New Zealand currency 6. Other liabilities 94,769 11 9 Total £24,855,638 2 11 Assets. 7. Reserve—(a) Gold 2,801,733 0 0 (b) Sterling exchange 18,847,195 4 4 (c) Gold exchange 8. Subsidiary coin 181,843 5 5 9. Discounts—(a) Commercial and agricultural bills (b) Treasury and local body bills 10. Advances—(a) To State or State undertakings 711,815 7 2 (b) To other public authorities (c) Other 11. Investments 2,038,324 9 0 12. Bank Buildings 13. Other assets 274,726 17 0 Total £24,855,638 2 11 Proportion of reserve (No. 7, less No. 5) to notes and other demand liabilities, 93.070 per cent.

SYDNEY STOCK EXCHANGE FEDERAL BUDGET AWAITED. (United Press Assn.—Telegraph Copyright.) (Rec. 8.30 p.m.) Sydney, September 10. Investors on the Stock Exchange to-day appeared to be waiting on the Federal Budget, which will be delivered to-day, but the market displayed a strong tone. Sales:—

Fine, per oz. 19Hd 19 9-16 d Standard, per oz 21 3-16 d 21 lad JERSEY CATTLE SALE AT HAMILTON BEST SINCE BOOM PERIOD. (United Press Association.) Hamilton, September 10. The national Jersey cattle sale at Hamilton yesterday was the best sale since the boom period, Jersey bulls selling from 30 to 135gns. One hundred and twelve head averaged 42Jgns. The total realization was approximately £5OOO. LONDON - RATES OF INTEREST (United Press Assn.—Telegraph Copyright.) (Rec. 5.5 p.m.) London, September 9. Discount and short-loan rates of interest are:— Day-to-day loans, % per cent.; fine trade bills (three months), 2 to 21 per cent.; bank bills (three months), 9-16 per cent.; bank bills (six months), i per cent.; Treasury bills (two months), | per cent.; Treasury bills (three months), J per cent.

FOREIGN EXCHANGES (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, September 9. The following mean closing rates of foreign exchanges were quoted to-day compared with par: —

NEW ZEALAND CURRENCY BASIS The Bank ol New South Wales. Dunedin, announces the following rates of foreign exchange on a New Zealand currency basis: on Buying Selling London—

THE WOOL MARKET SYDNEY VALUES FIRM. (United Press Assn.—Telegraph Copyright.) (Rec. 10.35 p.m.) Sydney, September 10. At the wool sales 11,447 bales were offered and 10,126 were sold, also 3124 privately. The market closed with values fully firm at the previous day’s level. There was good general competition, particularly from Yorkshire and the Continent. Greasy Merino made up to 29Jd. MINING RETURNS NEW RIVER DREDGE. (United Press Association.) Greymouth, September 10. The New River dredge had its first wash-up yesterday, 270 z being obtained from 11,000 yards. BENDIGO RISE AND SHINE COMPANY. The return at the Bendigo Rise and Shine mine for the week ended August 29 was 12oz 14dwt from seven tons of ore. THE PRICE OF GOLD (United Press Assn.—Telegraph Copyright.) London, September 9. The price of gold is £6 17/5£ an ounce. SWISS BANK RATE REDUCED (United Press Assn.—Telegraph Copyright.) (Rec. 5.5 p.m.) Berne, September 9. The National Bank of Switzerland has reduced the rate of discount from 2% to 2 per cent. SYDNEY PRODUCE MARKETS (United Press Assn.—Telegraph Copyright.) (Rec. 8.30 p.m.) Sydney, September 10. The wheat market is steady but quiet. Quotations: At country stations, 3/UJ a bushel for both bagged and bulk lots, which is equal to about 4/6 ex trucks in Sydney. Flour.—£l2 a ton. Bran.—£6 a ton. Pollard.—£6 5/- a ton. Potatoes.—Tasmanian, £7 10/- a ton; others, £5. Onions.—Victorian Brown, £lB a ton; Japanese, £2l. Maize. —Yellow, 4/6 a bushel. ADELAIDE QUOTATIONS. (United Press Assn.—Telegraph Copyright.) (Rec. 8.30 p.m.) Adelaide, September 10. Wheat.—Growers’ lots, 4/5. Flour.—Bakers’ lots, £l2. Bran and Pollard.—£6 5/-. Oats. —Algerian, 2/3 a bushel. Barley.—2/4 a bushel.

Buyers. Sellers. £ s. d. £ s. a. Stock, 3J p.c., 1938-43 103 7 6 Stock, 3J p.c., 1938-52 103 7 6 Stock, 3| p.c., 1939-43 103 7 6 Stock, 34 p.c., 1939-52 103 7 6 Stock, 4 p.c., 1940 101 10 0 — Bonds, 4 p.c., 1940 101 10 0 Stock, 4 p.c., 1946 103 7 6 - ...— Bonds, 4 p.c., 1946 103 7 6 — Stock. 4 p.c., 1949 105 5 0 Bonds, 4 p.c.. 1949 105 5 0 Stock, 4 p.c., 1955 105 5 0 Bonds, 4 p.c., 1955 105 5 0 — Banks. Australasia 12 0 0 — Commercial 0 18 8 Commercial, pref. 4 p.c. (cum.) 9 0 0 ' National of Austra - lasia 14 10 0 - National of New Zealand 3 0 6 3 2 9 N.S.W. 33 0 0 New Zealand 1 19 0 - — Union of Australia 9 9 0 — Breweries. N.Z. Breweries (shares) 2 12 3 — Staples’ Brewery 1 15 0 ■ Tooth’s Brewery 2 15 6 2 17 0 Coal. Kaitangata 1 1 0 —— Westport Coal 1 2 3 1 3 3 Insurance. National 0 18 0 0 18 5 New Zealand 3 2 3 — Loan and Agency. Dalgety and Co. — 9 2 6 Goldsbrough, Mort and Co. 1 13 0 1 13 6 National Mortgage 2 11 0 Wright, Stephenson (pref.) — 0 18 6 Meat Companies. N.Z. Refrigerating(20/- paid) - 1 0 3 (10/- paid) 0 9 2 0 9 5 Southland Frozen Meat.— (£1 ord. and pref.) ■ 3 15 0 Shipping. Union Steam Ship Co. (pref.) 1 6 0 P. and O. Stock 1 11 6 Woollen Mills. Bruce — 0 14 6 Kaiapoi (ord.) 0 15 10 — Miscellaneous. Associated News 1 3 0 Australian Glass 4 11 9 4 13 0 Broken Hill Pty. 3 17 0 — British Tobacco (Aust.) 2 1 3 2 2 0 Colonial Sugar Co. 43 0 0 G. J. Coles 3 19 0 Dominion Rubber Co. ———— — 1 8 6 Donaghy’s Rope and Twine 2 11 0 1 Dunlop Rubber (Aust.) 0 18 1 0 18 4 Hume Pipe (Aust.) ■1 0 19 11 Milburn Lime and Cement 2 3 0 ■ 1 1- 1 N.Z. Drug 3 15 0 —— N.Z. Farmers’ Ferti lizers 1 0 6 — N.Z. Guarantee Corporation 0 5 7 N.Z. Paper Mills 1 6 0 —" 1 — —— Wilson’s (N.Z.) Portland Cement — 1 17 0 Mining. Broken Hill South 5 17 6 — Gillespie’s Beach — 0 1 7 Kildare 0 2 6 King Solomon 1 0 1 3 Martha Goldmining 0 18 0 — ■■■ — Mount Lyell 1 8 11 Mount Morgans 0 12 11 0 13 2 Okarito 0 3 9 ■■■ Skippers 0 0 — Waihi Investments 0 11 1 Waitahu 0 2 3 Waimumu 0 0 10i Waipapa ■ 0 1 0 Unlisted. Woolworths (Sydney) 5 10 0

£ s d Stock 1949 4 p.c. 105 7 8 E.S. and A. Bank (2) 5 17 6 Bank of New Zealand 1 19 5 New Zealand Insurance (3) 3 3 0 South British 4 9 0 do. (2) 4 9 3 Farmers’ Auctioneering (£5 paid) 4 8 0 Goldsbrough Mort 1 13 6 Taupiri Coal 17 0 Auckland Gas 1 3' 0 Australian Glass 4 12 9 British Tobacco 2 1 9 Broken Hill Propty. 3 17 9 Milne and Choyce 14 9 New Zealand Newspapers 2 0 0 Wilson’s Cement 1 16 2 Golden Crown 4 6 Martha 18 9 Matakl 1 2 Talisman Dubbo 8 9 Mount Lyell 1 8 9 Unofficial. British Neon 17 0 Selfridges (Australasia) (new) I 6 6 do. 1 7 0 Woolworths (Syd.) 5 10 6 do. 5 10 0 WELLINGTON. £ s d 4 p.c. Inscr. Stock 1955 105 12 6 New Zealand Farmers Co-op. 4’4 p.c. 1940 91 5 0 Union Bank (odd lot) 9 10 0 New Zealand Guarantee . Corporation 5 7 New Zealand Insurance 3 2 9 Broken Hill Propty 3 17 6 British Tobacco 2 1 9 Consolidated Brick , 9 4 Victoria Laundry 1 0 0 Unofficial. Selfridges (old issue) (Wednesday) 1 6 9 CHRISTCHURCH. £ s d Union Bank of Australia 9 10 0 Westport Stockton Coal (ord.) (odd parcel) 1 6 New Zealand Breweries 2 12 6 do. 2 12 9 do. 2 12 11 British Tobacco (cum. div.) (2) 2 2 0 Broken Hill Propty. (2) 3 17 3 do. (3) 3 17 4 Dunlop Rubber (cum. div.) 18 2 Broken Hill Propty. (15/- paid) 2 17 6 Electrolytic Zinc (pref, ex div.) (2) 2 3 3 General Industries 19 6 do. (2) 19 a Hume Pipe (Aust. cum. div.) 19 5 G. J. Coles (cum. rights) 3 19 9 do. 3 19 6 Antonios Hydaulic 6

Gillespies Beach (cum. div.) 1 5>/ z do. 1 6 Mount Morgan 13 2 do. 13 1*2 do. (2) 13 1 Rawang Tin (2) 9 2 Sales Reported. New Zealand Government 4p.c. Inscribed 1946-49 105 15 0 Bank of New Zealand 1 19 4 New Zealand Refrig. (10/- paid) 9 2 Canterbury Farmers’ Co-op. Association ("A” pref.) (odd parcel) 2 0 0 G. J. Coles (cum. rights) 3 18 6 New Zealand Breweries 2 12 11 General Industries 19 o do. 19 6 Hume Pipe (cum. div.) 19 6 National Electric 13 4 Northern Roller Milling 1 5 0 Wilcox MofElin (cum. div.) 12 8 King Solomon 1 1 Maori Gully 7>/ z do. 7 Mount Morgan 13 1 do. 13 l>/ 2 do. 13 0'/2 do. (2) 13 1/2 do. 13 1 do. (2) 13 l>/ 2 do. (2) 13 1 New Zealand Farmers’ Co-op 4 p.c. Stock 1939 91 15 0 DUNEDIN. £ s d Bank of New Zealand (Wednesday) 1 19 4 National Electric (Wednesday) 12 11 Wilcox Mofflin 12 8 Mount Morgan (3) 13 2 Okarito 4 11

£ s d Bank of New South Wales .33 2 6 Commercial Bank of Sydney19 13 0 Australian General Insurance 16 9 Associated News 1 2 7 , z2 Associated News (pref.) 1 3 0 Australian Gas (B) 7 8 0 Toohey’s Brewery 1 12 71/2 Carlton Brewery 2 19 6 G. J. Coles 4 0 6 British Tobacco 2 2 3 Australian Glass 4 14 0 Henry Jones 2 1 3 Electrolytic Zinc (ex div.) 2 0 6 Goodyear (pref.) 1 10 6 Stedman 18 3 Sargents 1 9 0 Permanent Trustee 4 17 6 Victoria Nyanza 13 0 Peter’s Ice 2 2 3 Hackshalls 15 6 Mount Morgan 16 Mount Lyell 1 9 0 Broken Hill Propty. 3 18 0 Broken Hill Propty. (new) 17 6 South Broken Hill 6 4 0 Zinc Corporation 4 2 6 Placer Development 5 1 6 Melbourne Sales. There was a good support for bonds industrials were steady with good buying of G. J. Coles, and barriers were quieter. £ s d Commercial Bank of Australia 18 6 National Bank (£5 paid) 7 2 0 National Bank (£10 paid) 14 10 0 British Tobacco 2 2 6 Carlton Brewery 9 19 6 G. J. Coles 0 6 Electrolytic Zinc (ex div.) 2 1 3 Victoria Nyanza 13 0 Mount Lyell 1 8 10'/ 2 Broken Hill Propty. 3 17 9 South Broken Hill 6 4 0 Zinc Corporation 4 2 6 Emperor 16 2 Loloma 1 4 10',& United Provisions 12 0 Sulphide Corporation 17 0 Irowat 2 1 Silverton Trams 1 17 3 General Motors 1 4 3 Herald and Times 3 9 0 Upper Watut 3 0 METAL MARKET (United Press Assn.—Telegraph Copyright.) (Rec. 8.30 p.m.) London, September 9. Metals are quoted as follows:— Sept. 8. Sept 9. £ s d £ s d Copper— Standard, spot 38 18 114 38 9 4',4 Forward 39 5 7>/ 2 38 14 4>,4 Electrolytic 43 0 0 43 0 0 to 43 10 0 43 5 0 Wire bars 43 10 0 43 5 0 Lead— Spot 18 2 6 17 18 9 Forward 18 3 9 17 18 9 Spelter— Spot 13 12 6 14 0 0 Forward 13 17 6 14 6 3 TinForward 189 12 6 191 17 6 Forward 189 12 6 194 5 0 Silver—

Par. To-day. Paris, fr. to £ 124.21 76 50-64 New York, dol. to £ 4.88G 5.06 Montreal, do!, to £ 4.886 5.06 Brussels, belgas to £ 35 29.951'2 Geneva, fr. to £ 25.221 15.55 Milan, lira to £ 20.43 64 % Berlin, rmk. to £ 24.42 12.58 Stockholm, kr. to £ 18.159 19.39% Copenhagen, kr. to £ 18.159 23.39% Oslo, fr. to £ 19.159 19.90 Vienna, schgs. to £ 34.585 26% Prague, kr. to £ 164.25 122% Helsingfors, m. to £ 103.23 227 Madrid, pesetas to £ 22.15 581'2 Lisbon, escudos to £ 110 110% Athens, dr. to £ 875 531 Bucharest, lei to £ 318.6 677 Belgrade, dinars 275.31 221 Rio de Janeiro, p. to milrels 8.892 41/4 Buenos Aires, p. to dol. 45.577 17.721/2 Montevideo, p. to dol. 57 38% Bombay, p. to rupee 10 16% Shanghai, p. to dol. 14 5-16 Yokohama, p. to yen 24.57 14 1-64 a i .< ■ . . .

£N.Z. to £100stg T.T. OJJ 124 123/10/ 124/10/124/8/9 Australia— £A to £100 N.Z. T.T. 101 100/10/OJD. 101 Fiji£F to £100N.Z. T.T. 90/7/6 88 OJ3 90/7/6 89 New York— * Dollars to £1 N.Z. T.T. —— 4.05% O.D. — 4.05% Montreal— Dollars to £1 N.Z. T.T. 4.033s 4.05% O.D. 4.15% 4.05% Austria— Schillings to £1 N.Z. T.T. 20.97 O.D. 20.99 Belgium— Belgas to £1 N.Z. T.T. — 23.929 O.D. —— 23.940 Czechoslovakia— Crowns to £1 N.Z. T.T. 96.99 O.D. —— 97.04 Denmark— Kroner to £1 N.Z. T.l. 18.203 17.893 O.D. 18.263 17.903 France— Francs to £1 N.Z. T.T. — 61.46 O.D. 61.50 Germany— Reichmarks to £1 N.Z. T.T. 10.035 O.D. — 10.040 Holland— Florlns to £1 N.Z. T.T. —- 5.952 O.D. — 5.956 Italy— Lire to £i N.Z. T.T. —— 51.40 O.D. — 51.45 JavaFlorins to £1 N.Z. T.T. 5.922 O.D. — 5.926 Norway— Kroner to £1 N.Z. T.T. 16.181 15.891 O.D. 16.241 15.901 Sweden— Kroner to £1 N.Z. T.T. 15.785 15.490 O.D. 15.845 15.500 Switzerland— Francs to £1 N.Z. T.T. — 12.389 O.D. — 12.394 Noumea— Francs to £1 N.Z. T.T. 60.09 O.D. 60.15 Papeete— Francs to £1 N.Z. T.T. —— 60.24 O.D. —— 60.30 Hong Kong— N.Z. pence to 1 dollar T.T. 17 29-32 18 29-32 O.O. 17 13-16 18% India and Ceylon— N.Z. pence to 1 rupee T.T. 22 9-61 22 57-M OJJ. 22 3-64 22 7-8 Japan— N.Z. pence to 1 yen T.T. —— 17 41-64 O.D. 17 5-8 Shanghai— N.Z. pence to 1 dollar T.T. 17 21-64 18 21-64 O.D. 17 9-64 18 5-16 Singapore— N.Z. pence to 1 dollar T.T. 34 27-64 35 31-64 O.D. 34 15-64 35 15-32