COMMERCIAL

Southland Times, Issue 23024, 19 October 1936, Page 3

COMMERCIAL

SHARE MARKET INVERCARGILL STOCK EXCHANGE SATURDAY’S CALL-OVER Sales of Woolworths (Sydney) at £5 18/6 and New Zealand Refrigerating Co. scrip at 9/6 were reported at Saturday’s call-over on the Invercargill Stock Exchange. Quotations were as follows:— Government Debentures.

NORTHERN EXCHANGES SALES ON~ ? CHANGE AUCKLAND.

DUNEDIN. £ s d Bank of New Zealand 1 19 9 National Bank 3 0 0 Mount Lyell 1 12 6 National Insurance 18 10 Broken Hill Propty. 3 18 6 Mount Lyell (2) 1 12 6 Gillespie's Beach 1 6 SYDNEY - STOCK EXCHANGE SATURDAY MORNING’S SALES. (United Press Assn.—Telegraph Copyright.) (Rec. 5.5 p.m.) Sydney, October 17. Sales on the Stock Exchange this morning included the following:— £ s d Bonds 3 p.c. 1948 91 0 0 Bonds, 4 p.c. 1938 102 10 0 do 1941 102 15 0 do. 1944 101 10 0 do. 1953 102 12 6 do. 1961 100 17 6 Commercial Bank of Sydney 20 5 0 Bank of New South Wales 34 15 0 Australian Gas (A) 7 6 0 Tooth's Brewery 2 17 0 Anthony Hordern 18 9 British Tobacco 2 7 3 General Industries 19 4>/ 2 Goldsbrough Mort 1 14 6 Howard Smith 18 lO'/z FOREIGN EXCHANGES (British Official Wireless.) (Rcc. 5.5 p.m.) Rugby, October 16. The following mean closing rates of foreign exchanges were quoted to-day compared with par:— Par. To-day. Paris, fr. to £ — 105 1-64 New York, dol. to £ 4.886 4.89 5-16 Montreal, dol. to £ 4.886 4.89>4 Brussels, belgas to £ 35 29.08 >/ s Geneva, fr. to £ 25.221 21.29 Milan, lira to £ 20.43 92 15-16 Berlin, rmk. to £ 24.42 12.16 Stockholm, kr. to £ 18.159 22.40 Copenhagen, kr. to £ 18.159 22.00 Oslo, tr to £ 19.159 19.90 Vienna, schgs to £ 34.585 26>,2 Prague, kr. to £ 164.25 138>,4 Helsingfors n to £ 103.23 227 Madrid, pesetas to £ 22.15 50.55>/a Lisbon, escudos to £ 110 100 3-16 Athens, dr. to £ 875 550 Bucharest, lei to £ 318.6 670 Belgrade, dinars 275.31 214 Rio de Janeiro, p to mllrels 8.892 4‘4 Buenos Aires, p. to dol. 45.577 Montevideo, p. to dol. 57 39% Bombay, p. to rupee 10 18% Shanghai, p. to dol. —— 14 Yokohama, p. to yen 24.57 14

NEW ZEALAND CURRENCY BASIS

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

METAL MARKET (United Press Assn.—Telegraph Copyright.) (Rec. 5.5 p.m.) London, October IG. Metals are quoted as follows:—

RAW MATERIALS (United Press Assn.—Telegraph Copyright.) (Rec. 6.30 p.m.) London, October 17. Friday’s closing prices for raw materials were as follows (last week’s prices are also quoted);— Cotton.—Spot, 6.99 d a lb (6.70 d November delivery, 6.73 d (6.88 d Rubber.—Para, 10’/ 2 d alb (10>/ 4 d); plantation smoked, 7 7-8 d (7>,2d). Jute.—October-November delivery. £l7 8/9 a ton (£l7 11/9).' Copra.—October-November delivery, South Sea, £l4 a ton (£l3 18/9); smoked, £l3 15/- (£l3 13/9); plantation Rabaul, £l5 (£l4 17/6). Linseed Oil—£26 10/- a ton (£26 8/9). Turpentine—£l 18/9 a cwt (£1 18/10 >/ 2 ). DAIRY PRODUCE LONDON MARKETS. The New Zealand Loap and Mercantile Agency Company, Limited, has received the following advice from its London house, dated October 14 (last week’s quotations in parentheses):— Butter. —New Zealand choicest salted, 96/- (101/-); first grade salted, 93/(98/-). Cheese.—White, 68/- (70/-); coloured, 65/- (66/6). The markets are slow

.FROZEN MEAT PRICES

(United Press Association.) Wellington, October 17. The New Zealand Meat Producers' Board advises that the following are the approximate average prices realized for the week, based on actual transactions (wholesale quantities and descriptions of meat mentioned) and for representative parcels of goods offering during the week being for business done on the basis of delivery to Smithfield market and/or ex-London stores. N.Z. SheepCanterbury and North Island selected and crossbred wethers and maiden ewes:

121-1601 b 6% 6% The lamb market is steady and unchanged. Consumption is showing the usual seasonal decrease, but stocks of New Zealand are shortening. Mutton Market.—Wethers are weaker with trade slow. Ewes, lightweights are easier.

Beef Market.—The frozen beef market is quiet and unchanged. The chilled beef trade is slow, with prices easier, owing to heavy supplies of home-killed beef. New Zealand porker pigs.—The demand is quiet owing to muggy weather. New Zealand baconer pigs:—Nominal. Mr R. L. Bennett, Wellington, has received the following advice from Henry S. Fitter and Sons, Ltd., London:— d d N.Z. Lambs— Down's, 2's 712 7% Secondary Down 7'.g 7% 2's 7'4 7% B's 7% 7% 4's 6% 6% Secondary Lambs 6’4 7 N.Z. Mutton— Small 4% 5 Large 3% 4% Ewes: Small 4 4% Large 3% 3% N.Z. Beef (frozen) — Hinds 3% 3’4 Fores 2 >,'2 2% Dominion Chilled Beef— Hinds 41/2 4’4 Fores 2’,4 3 South American Chilled Beef— Hinds 4’4 s’/4 Fores 3 3’4 N.Z. Pork 614 6’,2 Australian Lambs (new season) 6’4 7’ 2 Argentine Lambs (new season) 6 7*2 Lambs.—The demand is falling off, and the market is affected by heavy supplies of Home-killed meat. Wethers.—Weaker values are ruling owing to lack of demand. Ewes.—The reduction in prices has improved the demand. I Chilled Beef.—The market has declined, the demand being very poor at present. Pork.—The market is rather easier. Trade generally is affected by heavy supplies of Home-killed meat. THE RIALTO William Todd and Co., Ltd., report as follows for the week ended October 17:— Pigs.—Small weaners, 7/- to 15/-; medium, 16/- to 19/-; well-grown, £1 to £1 7/-; stores, £1 2/6 to £1 12/-; porkers, £1 16/- to £2; sows in pig, £2 17/-; sow, £1 15/6; boar, 10/-; Large White weaners, boars and sows, £1 8/- to £1 13/-. Poultry.—A small entry. Hens, 3/to 3/9; heavy breeds, to 4/4; ducks, 2/6 to 2/10; geese, 3/6; hens and chicks, 7/to 19/6. Bacon Pigs.—We are cash buyers of bacon weights, 1201 b to 1501 b at s.]d a lb, freight paid. Produce. —Table potatoes: Supplies are equal to' the demand. King Edwards, £5; seed potatoes, an over supply of King Edwards and Arran Chiefs. Chaff, £4 5/- to £4 10/-; hay, £3 15/-; straw £3 5/-; oats, 13/- to 14/-; barley, 18/-; wheat, 20/-; crushed barley, 14/6; pollard, 8/6; bran, 7/-; crushed oats, 11/-; oatdust, 5/-; rock salt, 8/-; molasses, 13/6 case, drums, 50/-; Moose meal, 16/-; Moose nuts, 15/-; meat meal, 11/-; boneflour, 14/-; oyster shell grit, 6/- a cwt; linseed, 22/-; crushed linseed, 24/- a cwt. Miscellaneous. —Barb wire, 27/6; No. 8 galvanized, 19/-; fowl netting, 13/6; rabbit netting, 22/-; tanks, 50/-; timber, 13/- to 15/-; totara posts £7 10/-; stakes, 27/6; droppers, 10/- to 12/-; horse covers, 26/-; cow covers, 8/6; wheelbarrows, 26/- to 27/6; sashes, 10/-; pumice boilers, £5 15/-; baths, 65/-; Kauri wash tubs, £2 15/-; honey, 101 b tins, 5/-; 601 b at 4Jd lb; Ceylon tea, 51b boxes, 13/6; 401 b chests at 2/3 a lb. Grass seeds.—White clover, 9d to 1/-; Timothy, 9d; cowgrass, 1/-; cocksfoot, 9d to 1/2; dogstail, 9d; alsyke 1/6; perennial ryegrass, 2/6 to 3/6; Italian ryegrass, 3/6 a bushel; mixtures, 3d a lb. TENDERS FOR TREASURY BILLS (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, October 16. The total amount applied for in tenders for £45,000,000 in Treasury bills was £74,320,000. The average rate per cent for the bills at three months was 10/9.30, against 10/9.45 a week ago. THE PRICE OF GOLD (Rec. 6.30 p.m.) London, October 17. The price of gold is £7 2/2J an ounce.

DIVIDEND DECLARED BROKEN HILL PROPRIETARY. (United Press Association.) Wellington, October 17. The New Zealand Stock Exchange Association has received cabled advice from the Broken Hill Proprietary to the effect that the half-yearly dividend of 1/6 a share (Australian currency) of which, in terms of the issue, registered holders of the provincial certificates will be entitled to one-third, namely 5d : share has been declared. MINING REPORTS GILLESPIE’S BEACH. (United Press Association.) Dunedin, October 17. The Gillespie’s Beach return was 730 z lldwt for 133 hours’ work. NOKOMAI RETURN. Dunedin, October 17. The Nokomai return is lloz 15dwt, making a total of 4900 z from the last paddock. ARGO DREDGE. Greymouth, October 17. The Argo dredge return was 61oz from 12,000 yards in 123 hours. MAORI GULLY RETURN. Greymouth, October 17. The Maori Gully return was 290 z for 216 hours’ work.

Buyers. Sellers. £ . <1 £ s. d. Stock, 31 p.c.. 1938-52 104 0 0 .... Stock, 3) p.c.. 1939-43 101 10 0 — Stock, 4 p.c., 1940 — 101 0 0 Bonds, 4 p.c., 1940 — 101 0 0 Stock, 4 p.c., 1946 104 0 0 — Bonds, 4 p.c., 1946 104 0 0 — Stock, 4 p.c., 1949 103 5 0 — Bonds, 4 p.c., 1949 103 5 0 — Stock, 4 p.c., 1955 105 5 0 — Bonds, 4 p.c., 1955 105 5 0 — Banks. Commercial, prel. 4 p.c. (cum) 9 0 0 National ot New Zealand — 3 0 0 New South Wales 32 15 0 — New Zealand 1 19 2 — Breweries. N.Z. Breweries 2 10 G 2 12 0 Coal. Kaitangata 1 1 0 — Westport Coal — 1 3 3 insurance. National 0 18 9 0 19 0 South British 4 9 0 — Standard — 3 1 0 Loan an 1 Agency. Dalgety and Co. 8 16 0 — Goldsbrough, Mort and Co. 1 13 10 1 14 3 National Mortgage —— 2 11 0 N.Z. Loan and Mer cantile — 37 0 0 Perpetual Trustees (Dunedin)' — 3 4 0 Wright, Stephenson (ord.) — 0 18 6 (pref.) — 0 19 6 Meat Companies. N.Z. Refrigerating(20/- paid) 0 19 0 ■ (10/- paid) 0 9 5 — Southland Frozen ■K Meat Co.— (ord. and pref.) — 3 17 6 Shipping. Union Steam Ship Co. (pref.) 1 6 3 1 6 9 P. and 0. Stock 1 12 0 — Woollen Mills. Bruce — 0 14 6 Kaiapoi (cont.) — 0 6 3 Miscellaneous. Associated News (pref.) 1 2 9 - Australian Glass 4 15 o 4 16 0 Broken Hill Pty 3 17 6 — British Tobacco (Aust.) 2 5 6 2 6 6 Dominion Fertilizer 1 5 0 Dominion Rubber’ Co. 1 5 0 1 9 0 Donaghy’s Rone and Twine 2 11 0 Dunlop Rubber (Aust.) 0 17 5 -- Hume Pipe (Aust.) 0 19 1 0 19 b Milburn Lime and Cement 2 3 0 N.Z. Drug — 3 18 0 N.Z. Paper Mills 1 6 3 1 10 0 Otago Daily Times — — 2 5 6 Woolworths (N.Z.) 6 3 0 — Mining. Big River — 0 2 1 Electrolytic Zinc— (ord.) 2 5 6 ———— (pref.) 2 8 0 Goldfields Dredging — 0 0 2 Gillespie’s Beach 0 1 5 0 1 7 King Solomon 0 0 6 0 0 10 Mount Lyell 1 12 5 1 12 8 Mount Morgans 0 14 3 0 14 8 Nokomai 0 2 2 0 2 9 Okarito 0 3 6 — Waitahu — 0 2 0 Waimumu —————— 0 0 1 0 Waipapa 0 0 7 0 0 0 Central Shotover — — 0 0 4 Unlisted. Woolworths (Sydney) 5 17 0 5 19 0 Shillings Ltd. 0 18 9 0 19 0 Selfridges (Aust.) — 1 15 0 Sales Reported. Woolworths (Sydney), £5 18/6. N.Z. Refrigerating Co., 9/6

£ s d Stock. 4 p.c. 1937-40 100 10 0 Kauri Timber 1 4 6 Electrolytic Zine 2 6 0 Electrolytic Zinc (pref.) w 8 Morts Dock 11 9 Unofficial. Northern Investment .> 9 Selfridge's (new) 1 14 3 A sale of Electrolytic Zinc (ord.) on Friday at £2 6/9 was officially quoted in error. WELLINGTON. £ s d New Zealand Newspapers (Friday) 1 19 6 Waihi Investments (Friday) 9 4>,i do. 9 5 Zinc Corporation (Friday) 4 19 9 Mount Morgan (Friday) 14 2>/ 2 Union Steam Ship Co., (pref.) 1 6 3 Consolidated Brick 10 0 British Tobacco (2) 2 6 0 Broken Hill Propty. 3 19 9 do. 3 18 9 Woolworths (N.Z.) (2) 6 5 0 do. 6 4 0 Unofficial. Wool worths (Sydney) 5 17 0 do. 5 17 9 CHRISTCHURCH. Listed. £ s d New Zealand Government 4 p.c. Inscribed 1937 (2) 100 15 0 New Zealand Guarantee Corpora tion (curn. div.) (2) 5 6 Kaiapoi Woollen (17/- paid) 14 6 Australian Glass 4 15 0 Consolidated Brick 10 1 Electrolytic Zinc (pref.) 2 8 6 General Industries 19 3 G. J. Coles (rights) 1 14 9 Hume Pipe (Australia) 19 4 Woolworths (N.Z., ord.) 6 4 0 Alexander Mines (15/- paid) 16 0 Golden Point 1 Mount Lyell (3) 1 12 8 Rawang Tin 9 2 Vi Sales Reported. New Zealand Government 4 p.c. Inscribed 1949 104 10 0 Broken Hill Propty. (rights to Wellington Alluvials) 2 6 Electrolytic Zinc (ord.) (Sat.) 2 7 1 Gillespie’s Beach 1 6 Mount Lyell (Saturday) 1 12 7 Unlisted. Selfridge's (Australasia, old) (Saturday) 1 14 3 Woolworths (Sydney, ord.) •> 18 3

£N.Z. to BlOOstg. T.T. 124 124/10/O.D. 123/10/- 124/8/9

Australia— £A to £100 N.Z. T.T. 101 100/10/O.D. 101 100/10/Fiji-

£F to S100N.Z. T.T. 90/7/6 89 O.D. 90/7/6 89

New York— Dollars to £1 N.Z. T.T. 3.95% 3.92% O.D. 3.97 3.92%

Montreal— ' Dollars to £1 N.Z. T.T. 3.95% 3.92% O.D. 3.96% 3.92%

Austria— Schillings to £1 N.Z. T.T. —■ 20.62 O.D. — 20.64

Belgium— Belgas to £1 N.Z. T.T. —— 23.228 O.D. — 23.239

Czechoslovakia— Crowns to £1 N.Z. T.T. -- 110.11 O.D. — 110.16

Denmark— Kroner to £1 N.Z. T.T. 18.203 17.893 O.D. 18.263 17.903

France— Francs to £1 N.Z. T.T, — 84.14 O.D. — 81.18

Germany— ReJchmarks to £1 N.Z. T.T. — 9.694 0.0. —-- 9.699

Holland— Florins to £1 N.Z. T.T. — 7.252 O.D. ~— 7.256

Italy— Lire to £1 N.Z. T.T. — 74.43 0 D. — 74.48

Java— Florins to £1 N.Z. T.T. — 7.226 O.D. — 7.230

Norway— Kroner to £1 Ni 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. — 17.016 O.D. —- 17.021

Noumea— Francs to £1 N.Z. T.T. - 82.77 82.83 O.D. Papeete— Francs to £1 N.Z. T.T. —. 82.92 O.D. — 82.98 Hong Kong— N.Z. pence to 1 dollar T.T. 18 15-64 18 47-64 O.D. 18 13-64 IS 23-32 India and Ceylon— N.Z. pence to 1 rupee T.T. 22% 22 21-32 O.D. 22 11-32 22 41-64 Japan— N.Z. pence to 1 yen T.T. —■ ■ 17 17-32 O.D. — 17 33-64 Shanghai — N.Z. pence to 1 dollar T.T. 17 47-64 18 15-64 O.D. 17 45-64 18 7-32 Singapore— N.Z. pence to 1 dollar T.T. 34 23-32 35 13-64 O.D. 34% 35 3-16 OiMW-•

Oct. 15 Oct. 16. £ S d £ S d CopperStandard, spot 41 1 10>2 41 0 7'/ 2 Forward 41 5 7',2 41 5 0 Electrolytic 45 5 0 45 5 0 to 45 15 0 45 15 0 Wire bars 45 15 0 45 15 0 LeadSpot 18 0 18 8 9 Forward 18 3 9 18 7 6 SpelterSpot 14 7 6 14 13 9 Forward 14 13 9 15 0 0 TinSpot 199 17 6 198 2 6 Forward 197 7 6 196 2 6 SilverFine, per oz. 20d 19 15 -16d Standard, per oz. 21 9 -16d 21'/ 2 d

Oct. 10 Oct. 16. d. d Under 481b 5',4 5 48-5Glb 4% 4',4 57-641b 4',4 4’4 65-721b 4’4 4’4 North Island: 48-561b 4% 4'4 57-641b 434 4',4 65-721b 4% 4% Ewes: 481b and under 4 >/ 2 4’4 48-641b 4 4 65-721b 3% 334 N.Z. Lambs— Canterbury, first quality: Under 361b 7’,4 7% 37-421b 7'4 7',4 43-501b 6% 6% Second quality: Average about 311b 7 7Other South Island: Under 361b 7’,4 7’4 37-421b 6% 6% 43-501b 6 >/ 3 6',4 North Island Downs: Under 361b 7',4 7',4 37-421b 7',4 7',4 43-501b 6’4 6’4 Second quality: Average about 301b 7',4 7',4 North Island, first quality: Under 361b 7 ',4 7',4 37-421b 7',4 7',4 Second quality: Average about 311b 634 634 Australian Lambs — Victorian first quality: Under 361b and 37-421b: not quoted Argentine Lambs— First quality new season Under 361b 7 7 37-421b 6', 4 6',4 N.Z. Frozen Beef— Ox hinds (145-2101b) —- 4'4 Ox fores (145-2101b) — 294 New Zealand Chilled Beef— Ox hinds (145-2101b) not quoted Ox fores (145-210Ib) not quoted Argentine Chilled Beef— Ox hinds (145-2101b) 5-’ 8 5’,4 Ox fores (145-2101b) 3*8 3'4 Uruguayan Chilled Beef— Ox hinds (145-2101b) 5'4 434 Ox fores (145-2101b) 234 3 Brazilian Chilled Beef— Ox hinds and Ox fores: not quoted Australian Frozen Beef— Ox hinds (145-2101b) 4’4 4’4 Ox crops (145-2101b) 3’4 2’4 Australian Chilled Beef— Ox hinds (145-2101b) 4 3 8 4',4 Ox crops (145-2101b) 2’4 2’4 Union of S. Africa Chilled Beef— ■ Ox hinds 5’4 4’4 Ox fores 2’4 2’4 Southern Rhodesian Chilled Beef— Ox hinds (145-2101b) 4’4 4',4 Ox fores (145-2101b) 2’4 294 N.Z. Porker Pigs— First quality: 60-801b 6',4 6',4 81-1001b 6'4 6'4 101-1201b 6% 6-34 Prime baconers: