COMMERCIAL

Southland Times, Issue 22998, 18 September 1936, Page 3

COMMERCIAL

SHARE MARKET INVERCARGILL STOCK EXCHANGE At yesterday’s call-over on the Invercargill Stock Exchange the following prices were quoted:— Government Debentures.

Sales Reported. Wright, Stephenson (pref.), 18/IJ. Mount Morgan, 13/-. Goldsbrough Mort, 34/3. Farmers’ Trading, A pref., 22/-. N.Z. Refrigerating;, 9/1. NORTHERN EXCHANGES SALES ON 'CHANGE AUCKLAND.

Melbourne Sales. Industrials were strong, particularly electrolytic Zinc and Drug House, but mining

THE RESERVE BANK STATEMENT~OF ASSETS AND LIABILITIES (United Press Association.) Wellington, September 17. A Gazette issued to-night contains a statement of the assets and liabilities of the Reserve Bank of New Zealand as at the

Proportion of reserve (No. 7, less No. 5) to notes and other demand liabilities, 93.933 per cent. FOREIGN EXCHANGES (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, September 16. The following mean closing rates of foreign exchanges were quoted to-day compared with par: — Par. To-day.

fhe Bank oi New South Wales, Dunedin, announces the following rates of foreign exchange on a New Zealand currency Oasis: on Buying Selling

MATAURA STOCK SALE

LARGE CATTLE ENTRY.

There was a large entry of cattle with only a few lines of sheep at a special stock sale held nt Mataura yesterday. The weather was unfavourable. In the sheep section a line of fat wethers realized 32/-, while a pen of ewe hoggets brought 32/6. A line of full and failing mouth ewes was sold at 20/4. In the cattle section a line of dairy cows offered by Wright, Stephenson and Co., Ltd., on account of Mr F. N. Jones (Mataura), commanded considerable attention and averaged just over £B, selling up to £l2. Another line of first calving heifers offered by the same firm on account Misses A. and J. Wyber (Waitane) also sold well and averaged £6 10/-. Steers sold up to £5 15/and dairy heifers up to £7. Sales were:—

Wright, Stephenson and Co. Ltd.— Dairy cows at £7 5/-, £7 5/-, £7, £6 5/-, £7, £8 10/-, £9, £6, £7 10/-, £6, £l2, £7, £6 5/-, £l2, £8 10/-, £7, £lO, £8 5/-, £9 10/-, £5 10/-, £lO, £8 15/-, 1 heifer at £B, 1 do at £6, 2 steers at £5 15/-, 4 2-year-old steers at £3 10/-, 1 at £4, 2 fat heifers at £ll 5/-, 1 at £9 15/-, 2 dairy heifers at £7, 6 dairy heifers at £6 10/-, 6 fat wethers at 32/-, 1 dairy cow at £6, 1 at £3. National Mortgage and Agency Co., Ltd.—Dairy cows at £6 17/6, £4, £4, £2 12/6, £5 7/6, £5 5/-, £5, £4 5/-, £5 7/6, £4 10/-, £6, £6, £4 10/-, £4 15/-, £4 15/-, £4 12/6, £3 15/-, £5 5/-, £4 10/-, £4 10/-, £4 10/-, £4 17/6, £4 7/6, £4 15/-, £4 7/6, £4 2/6, £4 10/-, £5, £3, £2 2/6, £4 15/-, £3 15/-, £3, £3 2/6, £2 15/-, £4 16/-, £3, £3 5/-, £3 12/6, £3 12/6, £2 17/6, £3.2/6, 2 heifers at £4, 8 heifers from £3 17/6 to £4 7/6, 40 ewe hoggets at 32/6, 40 bixed sex hoggets at 18/8.

The Southland Farmers’ Co-opera-tive Association, Ltd.—Dairy heifers at £4 15/-, £4, £3, £4, £3 15/-, £3, £7, £7, £4 5/-, £5, £6, £6 10/-, £4 5/-, £3 10/-, dairy cows at £4, £3 15/-, £7 2/6, 120 f. and f.m. ewes at 20/4, 2 fat cows at £7. WINTON STOCK SALE VALUES MAINTAINED. At the fortnightly Winton stock sale yesterday 1500 sheep and 100 head of cattle were yarded. The sheep yarding consisted mostly of hoggets, with one or two lines of full mouth ewes. The demand was in keeping with recent rates and a firm sale resulted.

The fat sheep yarding was a small one, there being a few fat ewes and wethers forward. Butchers’ wethers made from 28/- to 33/- and fat ewes 23/-.

In the store sheep section ewe hoggets predominated. Well grown good woolled sorts made from 35/- to 37/-, medium from 32/- to 34/6, and smaller from 29/6 to 32/-. Best wether hoggets made 24/9, others from 21/- to 22/-, sound mouth ewes (guaranteed) 31/-, full mouth ewes 28/4, good failing mouth ewes from 19/- to 23/- and ewes and lambs (all counted) from 11/- to 13/2.

In the cattle section, the yarding consisted mostly of dairy cows, including one or two herds. Good young cows (guaranteed) met with a ready sale, the best realizing from £5 to £7, poorer conditioned sorts from £3 to £4 15/and others from £2 to £3. Best fat cows made from £7 15/- to £9 5/-, lighter sorts from £5 5/- to £7 5/-, extra prime fat heifers to £l2, prime from £8 to £8 10/- and lighter from £6 to £B. RABBITSKIN SALE AT DUNEDIN COMPETITION AT REDUCED LIMITS. (Special to The Times.) Dunedin, September 17. Wright, Stephenson and Co., Ltd., report having held their fortnightly rabbitskin sale to-day. There was a full bench of buyers present, although much smaller catalogues were offered. Competition was keen, but at reduced limits, and prices for bucks were lower by 6d to 9d a lb and does can be quoted at 3d to 6d a lb lower. The quality of the skins offered was much poorer than a month ago. Following is a range of prices:— Prime bucks, 140 d a lb; prime does, 92d; first winter bucks, 135 d; first winter does, 90|d; second winter bucks, 125 d; second winter does, 81d; spotty bucks, 109 d; spotty does, 73d; outgoing bucks, 95Jd; outgoing does, 64d; first spring bucks, 671 d; first spring does, 41|d; second spring bucks, 40} d; second spring does, 37d; first broken, 50d; second broken, 39} d; first blacks, 80d; second blacks, 67d; first fawns, 80d; second fawns, »59d; racks, 36d; runners, 28d; summers, 30d; horsehair, 17d. DAIRY PRODUCE LONDON MARKETS. Mr G. W. Blaxall has received the following cable, dated September 16, from Lovell and Christmas, Ltd., London:— Butter.—loB/-; market very quiet. Cheese.—White, 68/-; coloured, 66/-; market very quiet. TEA AUCTION COLOMBO MARKET FIRM. J. Rattray and Son, Ltd, have received the following report on the tea auction held at Colombo on Tuesday:— Good quality was offered with a firm market for all grades and general advances of |d to {d a lb. LONDON WOOL SALES GOOD GENERAL COMPETITION. Dalgety and Co., Ltd., report having received the following cable from their head office, London, under date September 16:— There was good general competition at the wool sales. The selection was average. The attendance was good. As compared with the closing rates of last series, scoured and greasy Merino were unchanged; greasy half-breds, id to Jd higher; scoured half-breds, un-

changed; fine greasy cross-bred, |d higher; medium and coarse greasy cross-bred, |d to Id higher; scoured cross-bred, slipes, id to Id higher. SYDNEY PRODUCE MARKETS (United Press Assn.—Telegraph Copyright.) (Rec. 8.5 p.m.) Sydney, September 17. Produce is quoted as follows: — Wheat.—At country sidings, 4/3i a bushel, which is equal to 4/10 ex trucks at Sydney. Flour.—£l2 a ton. Bran.—£6 a ton. Potatoes. —Tasmanian, £9 10/- a ton; others, £6. Onions.—Brown, £lB a ton. Maize.—4/6 a bushel. ADELAIDE QUOTATIONS. (United Press Assn.—Telegraph Copyright.) (Rec. 8.5 p.m.) Adelaide, September 16. Wheat.—Growers’ lots, 4/8. Flour.—Bakers’ lots, £l2 5/-. Bran and Pollard.—£6 5/-. Oats.—Algerian, 2/4 a bushel. Barley.—2/5 a bushel.

Buyers. Sellers. £ s. d £ s. d. Bonds, 4 p.c., 1940 101 7 6 — Stock, 4 p.c., 1946 103 15 0 Bonds, 4 p.c., 1946 103 15 0 — Banks. National of New Zealand 3 0 6 3 2 6 Commercial 0 18 2 0 18 6 Commercial, pref. 4 p.c. (cum.) 9 0 0 N.S.W. ■!, — 32 17 6 New Zealand 1 19 0 — National of Australasia Australasia 14 10 12 0 0 0 Breweries. N.Z. Breweries (shares) 2 12 6 Tooth’s Brewery 2 15 9 Dunedin Brewery Co. 1 1 0 Coal. 0 xxHitangcita Westport Coal 1 3 3 Insurance. National New Zealand 0 18 3 2 1 3 — Loan and Agency. Goldsbrough, Mort 1 14 and Co. 3 — Meat Companies. N.Z. Refrigerating— (20/- paid) 10 9 0 9 1 0 9 3 (10/- paid) South Otago Freezing Co. 8 0 0 Shipping. Union Steam Ship Co. (pref.) 1 6 0 1 7 0 P. and O. Stock 1 11 0 — Howard Smith n isi 6 Woollen Mills. Bruce Kaiapoi (cont.) 6 0 6 1 1 8 0 Oamaru Miscellaneous. Broken Hill Pty. (cont.) 2 16 0 Dominion Rubber Co. 1 8 0 Donaghy’s Rope and Twine Milburn Lime and Cement 2 11 0 2 3 6 4 2 0 G. J. Coles British Tobacco (Aust.) Dunlop Rubber (Aust.) 2 2 0 0 18 Hume Pipe (Aust.) 1 0 N.Z. Drug 3 4 13 'o 5 6 7 4 14 0 Australian Glass N.Z. Guarantee Corporation Mining. Okarito 0 5 6 Waitahu o 2 3 0 1 9 0 2 2 Big River Gillespie’s Beach King Solomon Martha Goldmining 0 1 5 o 1 0 18 0 Mount Lyell 1 9 1 Mount Morgans 0 13 0 — Waimumu 0 Kildare 0 2 6 Electrolytic Zinc— (ord.) 2 2 6 (pref.) 2 3 9 Unlisted. Woolworths (Sydney) — 5 11 0

£ s d Bonds 1949 4 p.c. 105 17 6 Stock 1940 4 p.c. 101 15 0 Devonport Borough 1938 4 p.c. 100 17 6 Commercial Bank of Australia (pref.) 9 2 0 Bank of New Zealand 1 19 3 do. (2) 1 19 2 do. 1 19 1 South British 4 9 6 Farmers’ Co-op Auct. (£5 paid) 4 8 6 do. (£1 paid) 14 9 Northern Steam 5 9 Tooth’s Brewery 4 2 16 4 British Tobacco 2 2 6 Electrolytic Zinc 2 2 6 do. (pref.) 2 4 3 Milne and Choyce (deb.) 14 0 Morts Dock (2) 11 11 Mataki 1 1’4 Waihi Investments 10 0 Mount Lyell (2) 1 9 5 Unofficial. Woolworths (Syd.) 5 8 6 WELLINGTON. £ s d Bank of New Zealand (Wed.) 1 19 3 Dominion Fertilizer (Wed.) 1 4 3 New Zealand Newspapers (Wed.) 2 0 0 Bank of New Zealand 1 19 3 Goldsbrough Mort 1 14 3 New Zealand Guarantee Corp. 5 7 Wellington Gas 1 17 6 New Zealand Refrigerating 4',4 p.c. Debentures 100 15 0 Staples and Co. 1 15 3 British Tobacco 2 2 6 British Tobacco (4) 2 2 6 Broken Hill 3 17 1 Dunlop (2) 18 2 Alexander Mines (contrib.) 14 0 Mount Morgan 12 9 do. 12 8 Unofficial. Woolworths Ltd. 5 8 3 CHRISTCHURCH. Listed. £ S d Commercial Bank of Australia (2) 18 4 Goldsbrough Mort 1 14 0 New Zealand Refrlg. (10/- paid) 9 2 New Zealand Breweries 2 12 6 Australian Glass 4 14 3 ! do. 4 14 0 Broken Hill Propty. (ex rights) 3 17 0 Broken Hill Propty. (15/- paid) 2 17 0 Dunlop Rubber (cum. div.) 18 0 Electrolytic Zinc (ord.) 2 2 6 do. 2 3 0 do. (3) 2 2 10 Electrolytic Zinc (pref.) (3) 2 4 6 do. 2 4 5 do. 2 4 4 G.‘ J. Coles (cum. rights) 4 1 3 do. (2) 4 1 0 Morts Dock (2) 11 11 do. 12 0 Antonios Hydraulic fi’,4 Mount Lyell (2) 1 9 6 Mount Morgan 12 6 do. 12 5 do. 12 4 Sales Reported. New Zealand Government 4 p.c. Inscribed 1937-40 101 15 0 do. 102 0 0 Commercial Bank of Australia (2) 18 4 Union Bank of Australia 9 9 6 Dunlop Rubber (cum. div.) 18 1 Argo (cum div.) 1 9 Gillespies Beach (Wed.) (cum. div.) 1 7 Mount Lyell 1 9 6 Mount Morgan (Wednesday) 12 11

Sales Reported. Unlisted. Shillings Ltd. (15/- paid) 14 5 Sales on Change. Unlisted. ' New River 8’/s Shillings Ltd (15/- paid) (2) 14 5 Woolworths (Syd. ord.) 5 5 0 DUNEDIN. £ s d Broken Hill Propty. 3 16 6 G. J. Coles (Wednesday) 4 2 3 do. 4 2 6 Toohey’s Breweries 1 13 3 Mount Lyell 19 6 Mount Morgan (Wednesday) 12 11 4p.c. Bonds 1952-55 (odd lot) 105 10 0 Unlisted. Shillings Ltd. 14 5

SYDNEY STOCK EXCHANGE INVESTMENT PRICES HARDEN. (United Press Assn.—Telegraph Copyright.) (Rec. 8.5 p.m.) Sydney, September 17. Investment prices showed a hardening tendency on the Stock Exchange to-day, the exception being the banking group. The turnover was heavy. Sales:— £ s d Bank of New South Wales 33 2 6 Commercial Banking of Sydney 19 19 0 Commercial Bank of Australia 18 6 Bank of New Zealand 1 19 0 United Insurance 11 13 0 South British Insurance 4 10 0 Burns Philp 3 12 9 British Tobacco (New Zealand delivery) 2 3 6 Toohey’s Brewery 1 13 l',i G. J. Coles 4 2 3 Drug Houses 1 12 0 Australian Glass 4 15 9 Henry Jones 2 3 0 Fairymead Sugar 1 16 0 David Jones 2 5 9 J. Fielding 4 0 0 Meggitts 1 G 9 Mauri Brothers 3 8 6 Mark Foy 1 13 l)i Gordon and Gotch (pref.) 1 12 7 Victoria Nyanza 13 0 Woolworths— Buyer 5 7 0 Seller 5 9 D Mount Morgan 12 6 Mount Lyell 1 9 10>/ 2 Broken Hill Propty. 3 17 3 Broken Hill Propty (new) 2 17 6 South Broken Hill G 7 6 North Broken Hill 10 C 0 Mandated Alluvials 1 6 6

was quiet. £ s d National Bank (£5 paid) 7 4 0 National Bank (£10 paid) 14 9 0 Howard Smith 19 4 British Tobacco 2 3 7*,' z Carlton Brewery 3 0 0 G. J. Coles ' 4 2 6 Australian Glass 4 15 9 Electrolytic Zinc 2 3 9 Electrolytic Zinc (pref.) 2 4 10>,i Mount Lyell 1 9 9 Broken Hill Propty. 3 17 0 North Broken Hill 9 19 0 Zinc Corporation 4 0 9 Emperor 15 7 Loloma 1 4 3 General Motors 1 4 0 Gordon and Gotch 2 11 0 Irowat 2 0 Herald and Times 3 8 0 Myers 1 15 6

close of business on September 14:— s d Liabilities. £ 1. General reserve fund 1,500,000 0 0 2. Bank notes , 11,042,360 10 0 3. Demand liabilities— (a) State 5,646,307 10 5 (b) Banks 6,227,976 16 3 4. (c) Other Time deposits 132,551 2 0 5. Liabilities in currencies other than New Zealand currency 94,111 6. Other liabilities 4 11 Total £24,643,307 3 7 Assets. 7. Reserve — (a) Gold 2,801,733 0 0 (b) Sterling exchange 18,849,074 2 9 (c) Gold exchange 8. Subsidiary coin 180,022 19 0 9. Discounts— (a) Commercial and agricultural bills (b) Treasury and local body bills 10. Advances — "(a) To State or State authorities (c) Other 11. 12. Investments Bank buildings 2,035,850 0 0 13. Other assets 66,426 18 9 ’Total £24,643,307 3 7

Paris, fr. to £ 124.21 76 59-64 New York, dol. to £ 4.886 5.06 5-16 Montreal, dol. to £ 4.886 5.05% Brussels, belgas to £ 35 29.97 Geneva, fr. to £ 25.221 15.54 Milan, lira to £ 20.43 64 5-16 Berlin, rmk. to £ 24.42 12.58 Stockholm, kr. to £ 18.159 19.39% Copenhagen, kr. to £ 18.159 22 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 50.55% Lisbon, escudos to £ 110 110 3-16 Athens, dr. to £ 875 531 Bucharest, lei to £ 318.6 677 Belgrade, dinars 275.31 221 Rio de Janeiro, p. to mllrels 8.892 4% Buenos Aires, p. to dol. 45.577 36 Montevideo, p. to dol. 57 39 9-16 Bombay, p. to rupee 10 18% Shanghai, p. to dol. ■ 14 15-16 Yokohama, p. to yen 24.57 14 3-64 NEW ZEALAND CURRENCY BASIS

London— 124/10/* ■ 124/8,-9 cnz to eiotota r.'i OJ> 124 123/10/Australia— £A to £100 NX T.l. 101 100/10/OJJ 101 nji£F to C100NX T.T. 90/7/6 88 O.D. 90/7/6 89 New York— Dollars to £1 N.Z. T.T. 4.09% 4.06 O.D. 4.10% 4.06% Montreal— 4.05% Dollars to £1 N.Z. T.T4.09% O.D. 4.10% 4.06% Austria— Schillings to £1 N.Z. T.T. WK 21.08 O.D. WK 21.10 Belgium— 23.945 Belgas to £1 N.Z. T.T. ■W O.D. WK 23.956 CzechoslovakiaCrowns to £1 N.Z. T.T. WK 97.47 O.D. WK 97.52 Denmark— Kroner to £1 N.Z I'.'l 18.203 17.893 O.D 18 263 17 903 FranceFrancs to £1 N.Z. T.T. WK 61.52 O.D. WK 61.56 GermanyReichmarks to £1 N.Z. T.T. WWW 10.035 O.D. WK 10.040 Holland— Florins to £1 N.Z. T.T. WK 5.944 O.D. WK 5.948 Italy— Lire to £1 N.Z. T.T. WK 51.40 O.D. — 51.45

JavaFlorins to £1 Norway— i f N.Z. T.T. O.D. — 5.902 5.906 Kroner to £1 N.Z. T.T. 16.181 15.891 / O.D 16.241 15.901 Sweden— Kroner to £1 NJZ. T.T. 15.785 15.490 OJ3 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. 60.15 O.D. — 60.21 Papeete— Francs to £1 N.Z. T.T. 60.30 O.D. —.- 60.36 Hong Kong— N.Z. pence to 1 dollar T.T. 17 55-64 18 55-64 O.D. 17 49-64 18 53-64 India and Ceylon— N.Z pence to 1 rupee T.T. 22 9-64 22 57-64 O.D. 22 3-64 22 7-8 Japan— N.Z. pence to 1 yen T.T. —— 17% O.D. 17 39-64 Shanghai— N.Z. pence to 1 " dollar T.T. 17 9-32 18 9-32 O.D. 17 3-32 18 17-64 Singapore— N.Z. pence to 1 dollar T.T. 34 27-64 36 31-64 O.D. 34 15 64 35 15-32