MONEY AND MARKETS

Southland Times, Issue 23140, 5 March 1937, Page 3

MONEY AND MARKETS

SHARE MARKET

INVERCARGILL STOCK EXCHANGE * YESTERDAY’S CALL-OVER At yesterday’s call-over on the Invercargill Stock Exchange there was a slightly easier market for the leading industrial companies’ shares; otherwise the market was steady. Quotations were as follows:— Government Debentures

THE RESERVE BANK ASSETS AND LIABILITIES (United Press Association) WELLINGTON, March 4. A Gazette issued tonight contains the statement of the assets and liabilities of the Reserve Bank of New Zealand as at the close of business on March *1: Liabilities

per cent. THE WOOL MARKET WEAKENING IN VALUES NOT FEARED LONDON, March 3. At the wool sales 7324 bales were offered, including 1851 from New Zealand, and 6956 were sold. There was a moderate selection and strong competition, the home trade securing the bulk at full current rates. New Zealand greasy crossbred brought a top price of 18d and an average of 15Jd. Henry Dawson and Sons, commenting on the wool outlook, says: “The quantities available at the present sales can easily be absorbed. 'No large stocks exist in Europe and there is little ground for the fear of a weakening in values.” LINCOLNS 100 PER CENT. UP AT MELBOURNE (Received March 4, 10.35 p.m.) MELBOURNE, March 4. At the Melbourne wool sales today a feature was the strong demand for Lincolns, which sold at up to IOJd, which is 100 per cent, above last year. LONDON RATES OF INTEREST (Received March 4, 5.5 p.m.) LONDON, March 3. Discount and short-term rates of interest are: Day-to-day loans, | per cent; fine trade bills (three months), 2 to 2£ per cent; bank bills (three months), 9-16 per cent; bank bills (six months), 11-16 per cent; Treasury bills (two months), | per cent; Treasury bills (three months), i per cent. THE PRICE OF GOLD (Received March 4, 5.5 p.m.) LONDON, March 3. The price of gold is £7 2/2J an ounce.

Buyers Sellers £ s. d. £ : ! J. o Stock, 3J p.c., 1938-43 102 0 0 Stock, 3J p.c., 1938-52 102 0 0 Stock, 3J p.c., 1939-43 102 0 0 Stock, 34 p.c.. 1939-52 102 0 0 Stock, 4 p.c., 1946 102 0 0 Bonds, 4 p.c., 1946 103 10 0 Stock. 4 p.c., 1949 103 10 0 Bonds, 4 p.c., 1949 103 10 0 Stock, 4 p.c., 1955 102 0 0 — Bonds, 4 p.c., 1955 102 0 0 — Banks Commercial 0 19 2 — Commercial (pref.) 4 p.c. cum 9 4 0 — E. S. and A. Bank 6 9 0 New Zealand 2 3 0 National of New Zealand 3 1 0 3 3 0 Breweries N.Z. Breweries 2 9 7 — Coal Kaitangata 1 3 6 -— Westport 1 4 6 . Insurance National 0 18 2 New Zealand 3 2 0 Loan and Agency Goldsbrough. Mort and Co. 1 18 0 Trustees Executors ■ (Dunedin) 3 12 0 Wright, Stephenson ‘ (pref.) 1 0 0 Meat Companies Gear Meat Co., 0 17 0 — N.Z. Retngerating— (10/- paid) ■ 0 8 9 South Otago Freezing Co. 7 12 6 — Shipping Union Steam Ship Co. (pref.) 1 6 0 Woollen Mills Mosgiel 10 0 0 — Kaiapoi (ord.) 0 14 b Miscellaneous Australian Glass 4 14 0 Broken Hill Pty. 4 8 0 — Colonial Sugar Co. 42 5 0 G. J. Coles 5 8 0 5 12 0 D I.C. (oro.) 0 16 0 — Dominion Fertilizer 1 4 6 Donaghy’s Rope and Twine 2 11 6 Dunlop Rubber (Aust.) 1 0 3 Hume Pipe (Aust.) 1 2 0 Milbum Lime and Cement 2 2 6 N.Z. Drug 3 16 6 3 18 0 N.Z. Farmers’ Fertilizers 0 19 9 1 1 0 N.Z. Paper Mills 1 7 6 1 10 0 / Otago Daily Times 2 6 0 — Permanent Building Society 5 15 0 —— Wilson’s (N.Z.) Cement — 1 19 0 Woolworths (N.Z.) 7 5 0 — Shillings, Ltd. ■ 0 18 10 Mining Big River 0 1 9 Electrolytic Zinc— (ord.) 3 1 9 3 2 9 (pref.) 3 0 0 3 3 9 Gillespie's Beach 0 1 5 0 1 6 Martha Gold Mining 0 19 9 King Solomon 0 0 4 0 0 7 Mount Lyell 2 13 2 Mount Morgans 0 18 4 0 19 0 Nokomai 0 3 0 0 2 7 Okarito 0 3 5 0 3 9 Skippers 0 0 4 Waitahu 0 2 6 Waipapa 0 0 11 Unlisted Woolworths (Sydney) 8 3 0 8 5 0 Selfridges (Aust.) 2 0 3 NORTHERN EXCHANGES SALES ON ’CHANGE AUCKLAND £ s d ■Sends 1953-57 3>/ 2 p.c. 99 0 0 Stock 1952-55 4 p.c. 103 0 0 Franklin Power Board 1963 414 p.c. 105 0 0 E.S. and A. Bank 6 8 3 National Bank of Australasia (£5 paid) 7 19 6 Bank of N.Z. 2 2 6 N.Z. Insurance 3 1 3 Dalgety and Co. 10 9 6 Farmers’ Co-op Auct. (£1 paid) 11 6 North Auckland Farmers’ Co-op (B pref.) 12 0 Westport Stockton 1 Uli Auckland Gas 1 2 1 Kauri Timber 1 3 2 National Timber 10 0 Dominion Breweries 1 18 6 do. (odd lot) 1 19 6 N.Z. Breweries 3 0 0 Broken Hill Propty. 4 9 0 do. 4 9 3 do. 4 9 0 Colonial Sugar (2) 43 0 0 Consolidated Brick 10 2 Electrolytic Zinc 3 3 3 do. (pref.) 3 4 0 G. J. Coles 5 8 6 do. 5 9 0 N.Z. Drug 3 17 0 N.Z. Refrigerating (cont.) 8 7 Taranaki oil 6 3 do. 6 2 do. 5 0 do. 4 9 do. 4 3 Mataki Dredging 10 Broken Hill South 2 15 0 do. 2 15 9 Mount Lyell . 2 13 0 do. 2 13 3 Mount Morgan 18 8 do. (2) 18 7 Unofficial Silknit 2 16 0 Woolworths (Syd.) (2) 8 2 0 Coromandel Gold » 1 3 WELLINGTON £ s d N.Z. Guarantee Corporation (Wed.) 5 5 Broken Hill Propty. (Wed.) 4 8 4>i Dunlop Perdriau (Wed.) 1 0 1 do. 1 0 2 G. J. Coles (Wed.) 5 9 6 Taranaki Oil (Wed.) 5 7 do. 6 1 do. 5 11 Sank of N.Z. (Wed.) 2 2 6 do. 2 2 9 Procera Bread (Wed.) 1 4 3 do. 1 4 0 Morris Hedstrorn (Wed.) 1 10 5 3‘,ip.c. Stock 1939-43 101 12 6 5 p.c. Rural Bonds 1947 102 10 0 Bank of N.Z. 2 2 6

N.Z. Guarantee Corporation 5 6 Broken Hill (3) 4 8 9 do. * 4 9 0 British Tobacco 2 13 4 Dunlop 1 0 1 Electrolytic Zinc (pref.) 3 4 0 G. J. Coles 5 8 0 Woolworths (2nd pref.) (2) 1 7 0 Mount Lyell (2) 2 13 0 do.' 2 13 1 Unofficial Woolworths Ltd. (Wed.) 8 5 6 do. (2) (Wed.) 8 4 6 do. (Wed.) 8 2 6 Woolworths Ltd. (4) 8 2 6 do. (3) 8 2 0 Selfridges (Australasia, old) 1 19 0 CHRISTCHURCH £ S d Government 4 p.c. Inscribed 1946-49 102 15 0 Commercial Bank of Australia (2) 19 4 do. (pref.) 9 4 0 Bank of N.Z. 2 2 0 Union Bank of Australia 11 0 0 Goldsbrough Mort (3) 1 17 9 United Building Society (cum. div.) 1 0 3 N.Z. Refrigerating (10/- paid) 8 7 N.Z. Breweries (2) 2 19 9 Tooth's Brewery 2 16 9 Anthony Hordern (2) 1 0 11 Australian Glass 4 12 6 Beath and Co. 1 2 6 British Tobacco (cum. div.) (2) 2 13 1 do. 2 13 2 do. 2 13 3 do. 2 13 4 do. 2 13 3 Broken Hill Propty. (2) 4 8 9 Dunlop Rubber (cum. div.) (2) 1 0 4 do. (5) 1 0 3 do. (2) 1 0 5 do. (2) 1 0 4 Electrolytic Zinc (ord., cum. div.) (2) 3 3 5 do. (4) 3 3 4 do. (pref., cum. div.) (3) 3 4 0 do. (2) 3 4 1 General Industries 1 1 11 G. J. Coles 5 9 0 do. (3) 5 8 6 do. (2) 5 9 6 Hume Pipe (Aust.) 1 1 1 Taranaki Oilfields 4 6 Woolworths (N.Z., ord.) 7 6 0 Big River 1 11 do. 2 0 Mount Lyell (7) 2 13 1 do. 2 13 2 do. (5) 2 13 3 do. 2 13 4 do. (2) 2 13 7 Mount Morgan (4) 18 6 Rawang Tin (4) 13 2 do. 13 3 Sales Reported 3>/ 2 p.c. Inscribed 1939-43 101 12 6’ 4 p.c. Inscribed 1952-55 102 15 0 Commercial Bank of Australia 19 4 Goldsbrough Mort (2) 1 17 9 N.Z. Breweries 3 0 0 British Tobacco (cum. div.) (2) 2 13 6 Broken Hill Propty. 4 8 10 Dunlop Rubber 1 0 3 Mount Morgan 18 6 Unlisted E. Reece Ltd. (pref.)* 2 1 Woolworths (Syd., ord.) 8 2 6 Grey River (2/6 paid) 4 6 DUNEDIN £ s d Standard Insurance 2 16 6 Mosgiel Woollen 10. 0 0 Broken Hill Propty. 4 8 10 Selfridges (old issue) 2 0 0 G. J. Coles (Wed.) 5 11 3 Taranaki Oil (Wed.) 6 0 Electrolytic Zinc (pref.) (Wed.) 3 3 10 do. (ord.) (Wed.) 3 3 3 Mount Morgan (3) 18 7 do. 18 6 l /a Rawang Tin 13 3 Mount Lyell (2) 2 13 5 do. 2 13 4 Okarito 3 9 314 p.c. Stock 1939-43 101 5 8 Hamilton Borough Debentures 1943 101 0 0 Unlisted Woolworths (Syd.) (2) 8 5 0

£ s d 1. General reserve fund 1,500,000 0 0 2. Bank notes 12,719,816 10 0 3. Demand liabilities — (a) State 6,791,503 3 0 (b) Banks 10,135,250 10 0 (c) Other 207,825 1 6 4. Time deposits ■ 5. Liabilities in currencies other than New Zealand currency —— 6. Other liabilities 142,063 1 3 Total £31,496,458 5 9 Assets 7. Reserve— (a) Gold 2,801,790 0 0 (b) Sterling exchange 17,458,177 10 2 (c) Gold exchange 8. Subsidiary coin 156,563 15 8 9. Discounts— (a) Commercial and agricultural Bills (b) Treasury and local body Bills 10. Advances— (a) To the State or State undertakings: (1) Dairy industry account 6,714,411 14 4 (2) For other purposes 1,800,000 0 0 (b) To other public 11. Investments 2,453,050 0 0 12. Bank Buildings 13. Other assets 112,465 5 7 Total £31,496,458 5 9 Proportion of reserve (No. 7, less No. 5) to notes, and other demand liabilities, < 67.882