MONEY AND MARKETS

Southland Times, Issue 23181, 23 April 1937, Page 3

MONEY AND MARKETS

SHARE MARKET INVERCARGILL STOCK EXCHANGE GOVERNMENT SHARES IN DEMAND At the Invercargill Stock Exchange yesterday there was a good inquiry for Government securities, particularly the 4 per cent, issues, the market for this line showing . firm tone. Sales were reported of Rawang Tins at £2 5/6 ana Bank of New South Wales shares at £37 10/-. Quotations were as follows:— Government Debentures Buyers Sellers

NORTHERN EXCHANGES SALES ON ’CHANGE AUCKLAND

Unofficial Northern Investment Trust (5/- paid) 5 9 Woolworths (Syd.) 7 4 0 WELLINGTON

CHRISTCHURCH

Unlisted Woolworths (Syd., ord.) (4) 7 0 0

SYDNEY STOCK EXCHANGE

METAL SHARES RECOVER SLIGHTLY (Received April 22, 8.30 p.m.) SYDNEY, April 22. The Stock Exchange turnover today was restricted. Metal shares recovered slightly and pastoral and brewery issues were strong. Sales were: —

Melbourne Sales Bonds and investments remain steady and some recovery was evident in base metals. Zinc Corporation was the exception, on their probable liability under the new English income tax.

THE RESERVE BANK ASSETS AND LIABILITIES (United Press Association) WELLINGTON, April 22. The following is a statement of the assets and liabilities of the Reserve Bank of New Zealand as at the close of business on April 19:— Liabilities £ s d 1. General reserve fund 1,500,000 0 0 2. Bank notes 13,016,826 10 0 3. Demand liabilities—(a) State 7,388,122 9 0 (b) Banks 9,756,211 5 11 (c) Other 811,393 16 4 4. Time deposits 5. Liabilities in currencies other than New Zealand currency 6. Other liabilities 126,305 4 2 Total £32,598,858 17 2 Assets 7. Reserve—(a) Gold 2,801,791 0 0 (b) Sterling exchange 19,622,337 10 0 (c) Gold exchange 8. Subsidiary coin 146,759 17 5 9. Discounts—(a) Commercial and agricultural bills (b) Treasury and local body bills 10. Advances—(a) To the State or State undertakings 6,146,667 13 11 (1) Dairy industry account 900,000 0 0 (2) For other purposes (b) To other public authorities (c) Other 11. Investments 2,906,450 0 0 12. Bank buildings 13. Other assets 74,853 5 0 Total £32,598,858 17 2 Proportion of reserve (No. 7, less No. 5) to notes and other demand liabilities, 72.399 per cent.

METAL MARKET (Received April 22, 6.30 p.m.) LONDON. April 21. Metals are quoted as follows:— April 20 April 21. £ r. d £ s d

Fine, per oz 22'/2d 20',2C1 Standard, per oz 22','sd 22',' B d MINING RETURNS WORKSOP (United Press Association) GREYMOUTH, April 22. The Worksop return was 28oz for 132 hours’ work, and 12,000 yards.

CLEARING SALE AT DRUMMOND

Messrs Wright, Stephenson and Co., in conjunction with the Southland Farmers’ Co-operative Association, conducted a very successful clearing sale at Drummond on account of Mr Jas. A. Lindsay on Wednesday. Mr Lindsay’s farm has been sold to Messrs Wilson and Montgomery, Oamaru. There was a large attendance of farmers, and the stock and implements were in good condition. The sale was one of the brightest held in the district for a number of years and good prices were realized. Following were some of the lines’, disposed of:— Sheep.—lss 2-shear ewes sold at 45/6, 89 3-shear do. at 41/6, 142 4-shear do. at 36/2, 82 4 and 5-shear do. at 35/3, and 31 f. and f. ewes at 23/6. Hoises. —9-year-old registered mare sold at 83 guineas, 1 do. at 85 guineas, filly foal at 21 guineas, 2-year-old filly at £24. and a yearling filly at 18 guineas. Implements.—Dray sold at £l9 10/-, ridger at £lB 5/-, wagon at £l6, double furrow plough at £l5, roller at £2l, swamp plough at £33 10/-, disk plough at £ll, drill at £45, and lime sower at £2B. Sundries realized full market values. BALFOUR STOCK SALE Although only a small yarding was forward at the monthly Balfour stock sale there was a good attendance of buyers present and the inquiry was keen. The majority of the yarding was made up of lambs which were in good condition. One pen of small two-tooth ewes was sold at 27/9, while soundmouth ewes realized 25/1 and 29/9. Full and failing mouth ewes changed hands up to 21/9 and failers up to 14/6. Ewe lambs were in demand at from 24/- to 26/7, while forward wether lambs sold from 18/5 to 20/1. Sales were: — Dalgety and Co., Ltd.—74 fat and forward lambs at 23/7, 200 cull lambs at 7/3. National Mortgage and Agency Co., Ltd.—36 fat wethers at 26/-, 204 small mixed-sex lambs at 13/9. Wright, Stephenson and Co., Ltd.— 156 wether lambs at 20/1, 23 mixed-sex lambs at 10/3, 129 ewe lambs at 24/-, 201 two-tooth ewes at 27/9, 96 ewe lambs at 24/9, 71 s.m.. ewes at 29/7, 76 do. at 25/1, 180 wether lambs at 18/5, 76 2, 4 and 6-tooth wethers at 25/4, 150 f. and fm. ewes at 21/7, 186 fm. ewes at 14/6, 20 fat wethers at 32/6, 70 ewe lambs at 26/7, 105 f. and f.m. ewes at 17/9, 50 ewe lambs at 25/4, 100 f.m. wethers at 15/-, 91 f.m. ewes at 14/6, 130 ewe lambs at 24/-. WINTON STOCK SALE Considering it was the third sale held in April there was a good entry at the Winton stock sale yesterday, over 4000 sheep being yarded. The bulk of farmers having purchased their requirements the attendance was not so large nor the interest so keen as at recent sales. Quality, too, showed a decided falling off, aged ewes comprising the greater part of the entry. Prices generally were slightly easier. In the fat sheep section the best quality freezing lambs brought 29/6, medium 25/6 to 27/-. Fat ewes made 17/6. Medium quality 2-tooth ewes made up to 36/9; best sound-mouthed ewes to 26/- and good condition aged ewes to 18/-. A line of “potters” made 7/-. Store lambs realized up to 22/3 while the best ewe lambs made from 30/11 down to 28/-. In the cattle section the fat cows brought from £4 to £6. One dairy herd changed hands al from £3 to £4. RIVERSDALE STOCK SALE There was a fair yarding at the Riversdale stock sale yesterday and prices were about the same as at recent sales. Good full and failing mouth ewes brought from 15/- to 18/-, poorer sorts selling down to 14/6. Two-tooth ewes realized 23/- and 24/-, and a pen of 6 and 8-tooth ewes sold at 24/3. Four and six-tooth wethers changed hands at 24/10. Wether lambs brought from 19/- to 23/-, and ewe lambs sold up to 26/-.

CHRISTCHURCH WOOL SALE (United Press Association) CHRISTCHURCH, April 22. The official return for the final wool sale of the Christchurch season shows that the season has been the most successful for Canterbury growers since 1928-29. The total receipts from the wool sold in this centre were £2,191,344 as against £1,440,164 last season and £812,203 in the 1934-35 season. The average price a bale increased from £l5 12/6 to a fraction of a penny less than £23. In the 1934-35 season the average was £lO 18/4. THE WOOL MARKET REGULAR SYDNEY SEASON ENDS (Received April 22, 10.55 p.m.) SYDNEY, April 22. The regular wool selling season terminated with today’s sale. There was good general competition and values were firm. Greasy Merino made up to 29£d. There were 14,038 bales offered and 11,670 sold, also 2138 privately. SYDNEY PRODUCE MARKETS (Received April 22, 8.30 p.m.) SYDNEY, April 22. Wheat at country sidings is quoted at 4/8 a bushel, which is equal to 5/3 ex trucks at Sydney. Bagged is quoted at 5/6 to 4/6J. Flour.—£l3 7/6 a ton. Bran. —£6 10/- a ton. Pollard. —£7 a ton. Potatoes. —Tasmanian, to £6 a ton; others, £4 10/-. Onions.—Victorian Brown, £9 a ton; white, £8 10/-. Maize.—Yellow, 5/6 a bushel.

UNION SOAP CO. (United Press Association) AUCKLAND, April 22. The Union Oil, Soap and Candle Company Limited will pay an interim dividend of 6d a share, payable on May 3. The rate is unchanged. MARTHIAS CO. (United Press Association) AUCKLAND, April 22. The Marthias Co’s net profit for 1936 is £98,870. A final dividend of 1/- making 2/for the year or 40 per cent, equalling the rate paid by the original Waihi Company, has been declared. THE PRICE OF GOLD (Received April 22. 6.30 p.m.) LONDON, April 21. The price of gold is £7 1/1 an ounce.

£ s. a £ s. a Stock, 34 p.c., 1938-43 Stock 3J p.c., 1938-52 101 10 0 Stock 3J p.c., 1939-43 100 5 0 Stock 3-f p.c., 1939-52 101 10 0 Stock, 4 p.c., 1946 102 10 0 Bonds, 4 p.c., 1946 102 10 0 " 1 —— Stock, 4 p.c., 1949 Bonds, 4 p.c., 1949 101 10 0 Stock, 4 p.c., 1955 103 10 0 Bonds, 4 p.c., 1955 103 10 0 Banks Commercial — 0 19 8 Commercial, pref. 4 p.c. (cum.) E. S. and A. Bank ■— 6 12 6 National of New Zealand 3 6 0 New South Wcdes 37 0 0 New Zealand 2 5 0 Union of Australia 11 6 0 11 9 0 Breweries New Zealand Brew cries 2 19 0 Staples Brewery 1 14 9 1 16 0 Cwd Kaitangata 1 3 3 Westport Coal Insurance National 0 17 9 — — Standard — 2 18 0 Loan an< i Agency Goldsbrough. Mort and Co. 1 16 9 1 17 6 National Mortgage 2 15 0 Wright, Stephenson (ord.) 0 18 6 (pref.) u ±y Meat Companies N.Z. Refrigerating Q (10/- paid) O Shipping K Howard Smith — 1 3 9 Huddart-Parker 2 0 0 Union Steam Ship Co. (pref.) 1 6 O 6 ■■ — P. and- O. Stock & Woollen Mills Bruce 0 12 6 Mosgiel Miscellaneous Associated News 1 3 3 • — Australian Iron and Steel 1 6 3 1 7 6 Broken Hill Pty. 4 1 3 4 3 0 G. J. Coles 5 3 0 D.I.C. (ord.) 0 16 9 — D.I.C. (pref.) o Dominion Fertilizers 1 4 3 Hume Pipe (Aust.) 1 0 4 Milbum Lime and Cement 1 19 0 N.Z. Drug 3 16 6 N.Z. Farmers’ Ferti lizers 1 0 0 N.Z. Guarantee Corporation 0 4 9 0 5 0 N.Z. Paper Mills —■ - 1 8 6 Otago Daily Times 2 6 0 Wilson’s (N.Z.) Cement 1 15 0 Woolworths (N.Z.) — 8 5 0 Mining Broken Hill South 2 6 0 Big River — ■ — 0 1 11 Electrolytic Zinc (ord.) - 2 18 9 (pref.) - 3 0 6 Gillespie’s Beach 0 1 8 King "Solomon — 0 0 6 Mount Lyell — 2 6 0 Nokomai 0 2 0 0 2 3 Okarito 0 3 4 0 4 0 Skippers 0 0 4 Waitahu 0 1 3 0 2 0 Waimumu 0 0 9 — Unlisted Woolworths (Sydney) — 7 14 0 Sales Reported Rawang Tin 2 5 6 Bank of New South Wales 37 10 0

£ s d Bonds 1943-46 4p.c. 103 0 0 do. 1946-49 4p.C. 102 0 0 do. (2) 1952-55 4p.c. 104 0 0 Stock 1939-52 3>,4p.c. 102 5 0 Commercial Bank of Australia (2) 19 8 National Timber 12 0 Dominion Breweries 2 4 0 do. 2 4 6 do. 2 4 0 Broken Hill Propty. (2) 4 2 6 do. 4 2 3 Dental and Medical (odd lot) 11 9 do. 11 9 Electrolytic Zinc (pref.) 2 19 0 G. J. Coles 5 5 0 Farmers’ Fertilizer 1 1 0 Gillespies Beach 1 7 Mount Lyell 2 6 0 do. 2 5 9 Mount Morgan 14 9

£ s d Bank of N.Z. (3) (Wed.) 2 5 0 Union Bank (Wed.) 11 7 0 Woolworths Ltd. (second pref.) (Wed.) 1 7 9 Bank of N.Z. 2 4 9 Union Bank (2) 11 7 0 National Bank of Australasia (£5 paid) 7 17 0 Union Steam (pref.) 1 7 0 National Timber 12 0 Dominion Breweries 2 4 0 do. (2) 2 4 3 Bums Philp 3 15 0 Electrolytic Zinc (pref.) (2) 2 19 3 G. J. Coles 5 5 9 Hackshalls Ltd. 15 0 Union Theatres Trust 5p.c. (pref.) 14 9 Amalgamated Zinc 10 lO'/j Mount Lyell (4) 2 6 0 Mount Morgan 15 3

£ s d N.Z. Government 4p.c. Bonds 1946 103 5 0 Commercial Bank of Australia (2) 19 6 National Bank of N.Z. 3 2 9 Bank of N.Z. 2 4 9 Goldsbrough Mort 1 17 2 We>tport Stockton Coal (pref.) 3 6

Broken Hill Propty. (2) 4 2 6 do. (2) 4 2 5 do. 4 2 3 Broken Hill Propty. (cont.) (2) 3 16 6 do. 3 16 7 Colonial Sugar 44 17 6 Dunlop Rubber 1 0 11 Electrolytic Zinc (ord.) 2 18 0 do. (3) 2 18 3 do. (2) 2 18 1 do. 2 18 3 Electrolytic Zinc, (pref.) 2 19 0 General Industries 19 10 G. J. Coles 5 5 0 Hume Pipe (Aust.) 1 0 1 Wilcox Mofflin (2) 14 0 Wool worths (N.Z., ord.) 7 16 0 Broken Hill South 2 6 9 Mount Lyell 2 6 3 uo. 2 6 4 do (2) 2 6 5 do. (7) 2 7 6 do. 2 6 0 do. (3) 2 5 10 Mount Morgan (4) 15 3

Sales Reported Standard Insurance 2 17 6 Hume Pipe (Aust.) 1 0 2 Nemona 1

DU'iEDIN £ s d Bank of N.Z. 2 5 0 do. (3) 2 4 6 Union Bank 11 7 0 Commercial Same 19 6 Regent Theatre 1 0 0 Broken Hill Propty. (cont.) 3 15 6 Electrolytic Zinc (ord.) (2) 2 18 3 do. 2 18 0 do. 2 17 9 do. 2 17 6 do. 2 17 3 do. 2 17 2 Mount Lyell 2 6 6 do. 2 6 0 do. 2 5 10 do. 2 5 9 do. (2) 2 5 8 Mount Morgan (3) 15 0 do. 14 11 do. (2) 14 10 do. 14 9 4 p.c. Bonds 1952-55 104 0 0

£ s d Commercial Bank of Atistralia 19 9 National Bank (£10 paid) 16 0 0 Bank of N.Z. 2 4 9 Huddart Parker 1 19 9 Australian Gas (A) 7 5 0 G. J. Coles 5 7 0 Drug Houses 1 7 ioy 2 WInchcombe Carson 1 17 0 Henry Jones 2 7 0 Electrolytic Zinc 2 19 0 do. (pref.) 3 0 0 Anthony Horderr 1 0 1 W. H. Soul 4 4 0 Kandos 1 3 10 l /2 Stedman 17 0 Waldas 1 1 3 Victoria Nyanza 18 0 Mount Morgan 15 6 Mount Lyell 2 6 6 Mount Lyell (N.Z. delivery) 2 6 9 Kuala Kampar 1 3 6 Placer Development 4 14 0 Larut 1 0 6 Taranaki Oil 4 2 Puchong Tin 1 13 6 Pungah Tin 1 13 6

Sales were:— £ s d Commercial Bank of Australia 19 10 National Bank (£5 paid) 7 19 0 do. (£10 paid) 15 18 0 Adelaide Steam 1 12 3 Carlton Brewery 3 2 6 G. J. Coles 5 6 6 Australian Iron and Steel (pref.) 1 6 10>/ 2 Dunlop Perdriau Rubber 1 1 5 do. (pref.) 1 15 3 Goldsbrough Mort 1 17 7>/ 2 Henry Jones 2 6 0 Hume Pipe 1 0 4 Electrolytic Zinc 2 19 0 do. (pref.) 3 0 3 Yarra Falls 2 2 0 Mount Morgan 15 6 Mount Lyell 2 6 9 Broken Hill Propty. 4 2 9 Zinc Corporation 6 15 0 Emperor 17 1 Loloma 1 2 4>/ 2 Sulphide Corporation 15 0

Copper— Standard, Spot 55 12 6 61 0 0 Forward 53 11 3 57 10 0 Electrolytic 62 0 0 63 0 0 to 64 0 0 65 0 0 Wire bars 64 0 0 65 0 0 Lead— Spot 23 0 0 24 11 3 Forward 22 17 6 24 8 9 SpelterSpot 22 7 6 23 13 9 Forward 22 7 6 23 13 9 TinSpot 249 10 0 261 5 0 Forward 245 15 0 256 17 6 Silver—