MONEY AND MARKETS

Southland Times, Issue 23297, 6 September 1937, Page 3

MONEY AND MARKETS

SHARE MARKET

INVERCARGILL STOCK EXCHANGE INDUSTRIAL SHARES FIRM The market was unchanged at the call-over on the Invercargill Stock Exchange on Saturday morning. Industrial companies’ shares generally were firm and there was a strong inquiry for Government loans. Quotations were as follows:—

NORTHERN EXCHANGES SALES ON ’CHANGE

METAL MARKET (Received September 4, 6.30 p.m.) LONDON, September 3. Metals are quoted as follows:—

HORSE FAIR AT GORE

BIG ENTRY FORWARD The National Mortgage and Agency Company Limited conducted a most successful horse fair in its horse bazaar, Gore, on Friday. There was a big entry forward and the demand was good throughout. Top price was secured ’ for a four-year-old gelding, which ■ changed hands at £47. Other young horses brought up to £45. Sales were:—Gelding 4yrs at £32, filly 3yrs at £34 10/-, mare Byrs at £24, do. 4yrs at £3B, do. 6yrs at £27, gelding 4yrs at £27 10/-, mare lOyrs at £2l, gelding 9yrs at £34, mare Byrs at £33, do. lOyears at £24 10/-, do. 12yrs at £2B, do. Byrs at £lB, gelding 9 years at £l7, mare Byrs at £4l, gelding 3yrs at £36 10/-, do. lOyrs at £23, filly 3yrs at £39, mare 7yrs at £27 10/-, filly 3yrs at £25, mare 7yrs ■at £3B 10/-, do. lOyears at £2O 10/-, gelding 4yrs at £47, mare 4yrs at £4l, do. Byrs at £27 10/-, mare 7yrs at £3O, mare Byrs at £37 10/-, do. Byrs at £35, gelding 7yrs at £43, mare syrs at £36 10/-, do. syrs at £3l 10/-, gelding 4yrs at £25, do. lOyrs at £l6 10/-, do. lOyrs at £l7, mare aged at £4, mare 9yrs at £l5 10/-, gelding 3yrs at £45, do. lOyrs at £l7 10/-, do. 7yrs at £25, do. Byrs at £44, do. Byrs at £26 10/-, do. 7yrs at £3B 10/-, do. 4yrs at £2B, do. aged at £l6, mare I aged at £l6 10/-, gelding 7yrs at £3B, do. aged at £25, mare 7yrs at £26, filly 4yrs at £29, gelding 7yrs at £l2, do. 7yrs at £l3, do. 9yrs at £lO, do. 7 yrs at £lO, do. 4yrs at £l2 10/-, mare 9yrs at £7 10/-. DUNEDIN RABBITSKIN SALE Dalgety and Co. Ltd. report as follows on the rabbitskin sale at Dunedin:— “The Australian markets showed a further decline during the past fortnight, and restriction of credit from the United States caused a further reduction in buyers’ limits. In addition, the general quality of the skins is going off quickly now, so it is very doubtful if any recovery will take place before the end of the season. We quote prime bucks sd, first bucks 8d and second bucks lOd lower than last sale. The decline in prices for does was not so great, primes being 4d, firsts 6d and seconds only Id lower. Outgoing and spring bucks and does were 9d and 4d lower respectively, but autumns and incomings, for which there was little demand, declined 12d to 18d. Inferior grades were also weaker. Prices:—Small, 17fd a lb; runners, 22d; racks, 29-|d; dawny autumns, 33d; late autumns, 45d; 2nd autumns, 48d; Ist incoming winters, 66d; 2nd incoming winters, 55d; Ist early winter bucks, 116 d; Ist early winter does, 65d; 2nd early winter bucks, 90d; 2nd early winter does, 50d; prime winter bucks, 144 d; Ist winter bucks, 137 d; 2nd winter bucks, 123 d; spotted winter bucks, 112 d; outgoing winter bucks, 92d; spring bucks, 54d; prime winter does, 99d; Ist winter does, 97d; 2nd winter does, 86|d; spotted winter does, 70d; furrier winter does, 80|d; outgoing winter does, 60Jd; spring does, 44d; summer bucks, 25d; summer does, 28Jd; Ist milky, 41d; 2nd milky, 27-Jd; 2nd winter blacks, 50d; Ist winter blacks, 66d; winter fawns, 70d; hareskins, 45|d. THE RIALTO William Todd and Co. Ltd. report the following sales for the week ended September 3:— Pigs.—Small weaners 12/- to 14/-, well-grown 15/- to £1 2/6, small stores 18/- to £1 11/-, stores £1 14/6, porkers £2 9/- to £2 15/-, sows £2 10/- to £3 19/-, sows and litters £5 7/-, £6 15/-. Poultry.—Hens 2/1 to 2/11, heavy breeds 3/- to 4/2, ducks 2/6 to 3/-, Rhode Island Red cockerels 3/10 to 4/4, B.L. pullets 4/-, Rhode Island Red pullets 4/10 to 4/11, W.L. pullets 3/- to 5/9, geese 3/9, turkey gobblers 12/9 to. 14/-.

Dairy Cows.—Eight head at £5, 1 at £6 10/-.

Bacon Pigs.—We are cash buyers of bacon weights, 120 to 1501 b, at 6d a lb, delivered to factory. Produce.—Table potatoes (whites), £lO a ton, King Edwards, about finished, onions 17/-, straw £3 5/-, hay £4 10/-, oats 10/- to 12/-, barley 20/-, wheat 20/- to 22/6, ryecorn 6/- a bushel, black barley 8/- a bushel, Dun oats 4/- a bushel, rock salt 8/-, pollard 9/-, bran 7/-, Farra food 200’s 16/6, molasses 13/6 case, meat meal. 11/-, boneflour 14/-, Moose meal 16/-, Moose nuts 15/-, linseed 24/-, crushed linseed 26/- cwt, oyster shell grit 6/- cwt.

Miscellaneous. —Barb wire 34/6, No. 8 galvanized 28/6, fowl netting 14/6, rabbit netting 27/-, sheep netting 27/-, tanks £2 10/-, stakes 32/6 a 100, droppers 13/-, horse covers 27/6, cow covers 13/6, pickling barrels 10/-, wheelbarrows 27/6, Ceylon tea. s’s 13/6, 40’s 2/3 lb. Hedge Trees.—White and red Escalonia and Olearia, 25/- a 100, macrocarpa and Pinus Insignus 15/to 25/- a 100.

MINING RETURNS KILDARE CONSOLIDATED (United Press Association) DUNEDIN, September 4. The Kildare Consolidated wash-up was 78oz for 13 weeks’ work and five days’ sluicing. ARGO DREDGE (United Press Association) GREYMOUTH, September 4. The Argo Dredge return was 540 z for 130 hours’ work and 13,000 yards. MAORI GULLY (United Press Association) GREYMOUTH, September 4. The Maori Gully return was 260 z for 126 hours’ work. MATAKI JUNCTION (United Press Association) MURCHISON, September 4 The Mataki Junction return for the week ended September 3 was lOOoz of smelted gold for 133 hours’ work and 18,000 yards dredged. MINING HOUSE CONCESSIONS The secretary of the Mining House Concessions Ltd. reports as follows for the months of July and August 1937:— “The severe winter caused considerable interruption in work and when the thaw set in the water supply was not sufficient for effective sluicing. During the interruption, part of the time was used to carry out repairs and extensions to the tail race and other incidental work, and the rest of the time the men stood down. One washup has taken place, which produced 14oz 3dwt of gold, the approximate value being £lOO. Mine expenditure during this period, including the mine manager’s salary, amounted to £95 14/11.”

Government Debentures Buyers Sellers £ s d £ s d Stock, 31 p.c., 1938-43 102 15 0 —— Stock, 3) p.c.. 1938-52 103 0 0 Stock, 3) p.c.. 1939-43 102 15 0 ----- Stock, 31 p.c., 1939-52 103 0 0 - •— Stock, 4 p.c., 1949 104 15 0 — Bonds, 4 p.c., 1949 104 15 0 Stock, 4 p.c., 1955 104 15 0 — Bonds, 4 p.c., 1955 104 15 0 — Banks Commercial 0 17 6 0 17 10 National of Australasia - 7 8 0 New South Wales - —- — 34 0 0 New Zealand 2 4 9 — Union of Australia —— 10 0 0 Breweries N.Z. Breweries 2 10 0 2 10 6 Tooth’s Brewery — 2 17 0 Coal Kaitangata 1 3 0 — — Westport Coal 1 4 6 Insurance National 0 18 3 — Loan ant 1 Agency Dalgety and Co. 9 17 6 — N.Z. Loan and Mer cantile — 40 0 0 Meat Companies Gear Meat Co. 0 19 0 — N.Z. Refrigerating (20/- paid) 1 0 0 (10/- paid) 0 9 8 South Otago Freezing Co. 10 0 0 — Shipping Union Steam Ship Co. (pref.) 1 6 6 P. and 0. Stock 2 0 (J Woollen Mills Kaiapoi (cont.) 0 5 0 — Miscellaneous Australian Glass — 4 16 3 Broken Hill Pty. 3 19 0 —— Colonial Sugar Co. 48 0 0 G. J. Coles - 4 18 0 D.I.C. (pref.) 1 4 0 — Dominion Fertilizer —■— 1 5 3 Dunlop Rubber (Aust.) 1 2 3 1 3 0 Hume Pipe (Aust) — 1 1 0 Milbum Lime and Cement 2 3 0 —— N.Z. Drug 3 14 6 - ' - ——■ N.Z. Farmers’ Ferti lizers — 1 0 11 New Zealand Paper Mills 1 6 6 Otago Daily Times 2 5 0 Permanent Building Society 5 17 0 Wilson’s (N.Z.) Cement 1 2 0 - Woolworths (N.Z.) 5 5 0 — Shillings, Ltd. 0 19 6 1 0 0 Mining Broken Hill South 2 8 6 — Big River 0 1 3 —— Electrolytic Zinc (ord.) 3 0 3 Gillespie’s Beach 0 1 2 0 1 4 Goldfields Dredging 0 0 5 Kildare - — 0 1 4 Mount Lyell 2 2 3 — Mount Morgans 0 11 0 0 11 2 Nokomai — 0 2 6 Okarito 0 2 3 Skippers 0 0 4 Waimumu 0 0 7 Waipapa - - " — 0 0 4 North Broken Hill 3 15 0 Rawang Tin — 0 12 9 Unlisted Woolworths (Sydney) 6 13 6 — Sales Reported G. J. Coles 4 17 9 Stock, 4 p.c., 1955 105 7 6 Stock, 3j p.c., 1939-43 103 2 6

AUCKLAND £ d Commercial Bank of Australia 17 9 Bank of N.Z. 2 5 3 Union Bank 9 15 0 Tattersfield 1 9 6 Farmers’ Trading 1 0 9 N.Z. Drug 3 14 6 Radio (1936) 1 2 9 Shillings Ltd. 19 11 Taranaki Oil 6 0 Unofficial Woolworths (Syd.) 6 12 6 WELLINGTON £ a d Bank of N.Z. (Fri.) 2 5 3 Broken Hill Propty. (Fri.) 4 0 0 MacDuff's (pref.) (Fri.) 1 7 N.Z. Refrigerating (cont.) 9 9 Burns Philp (rights) 1 14 9 Taranaki Oil (2) 6 2 Mount Lyell (2) 2 2 9 SJz P-c. Stock 1939-43 103 2 6 DUNEDIN Sales Reported Union- Bank 9 17 0 N.Z. Drug 3 14 9 Taranaki Oil 6 4

£ Sept. 2 Sept. 3. s d £ s d Copper— Standard, Spot 54 14 4 >,4 54 11 3 Forward 54 19 4’/ 2 54 15 7>/ 2 Electrolytic 60 10 0 61 0 0 to 61 10 0 62 0 0 Wire bars 61 10 0 62 0 0 Lead— Spot 21 15 0 21 13 I’/ ? Forward 21 19 4>,'a 21 15 7>/2 Spelter— Spot 22 9 i'/2 22 9 4>,$ Forward 22 13 9 22 13 TinSpot 253 5 0 260 2 6 Forward 258 12 6 259 2 6 Silver Fine, per oz Standard, per oz 19%d 21 5-16d 19 13-16d 21%d