SHARE MARKET

Southland Times, Issue 23332, 16 October 1937, Page 4

SHARE MARKET

INVERCARGILL STOCK EXCHANGE METAL SHARES AT LOW LEVEL The market was easy at the call-over on the Invercargill Stock Exhange yesterday, and buyers exercised caution in their operations. Metal shares remain at a low level. Quotations were as follows: — GOVERNMENT DEBENTURES

NORTHERN EXCHANGES SALES ON ’CHANGE AUCKLAND

WYNDHAM STOCK SALE Wright, Stephenson and Co., Ltd. (Edendale) report that there was a small yarding of fat sheep forward for the fortnightly Wyndham stock sale. These met a keen demand, and prices were on a par with recent sales. The first lots of ewes with lambs were offered in the store pens, but because of the backward growth they met with practically no demand and passings were frequent. The medium yarding of fat cattle met a demand that was keen for all classes, prices being well up to, and in some cases over, those ruling at previous sales. Sales were:— Sheep.—6 fat wethers at 49/-; 9 fat ewes at 41/-, 4 fat hoggets at 24/3, 10 fat ewes at 25/-, 103 ewe hoggets at 37/-, 80 ewe hoggets at 36/-. Passed: 230 ewes and lambs at 15/6. Cattle.—l fat cow at £9 15/-, 1 at £8 15/-, 1 at £3 10/-, 1 at ? £6 15/-, 1 at £6 2/6, - at £7 5/-, 1 at £5 and 1 at £6 10/-; 1 store cow at £1 17/6, 2 at £3, 2 at £2 10/-, 1 at £2 5/-, and 1 at £2 2/6; dairy cows at £4, 5 at £5 10/-, and 1 at £5 15/-. Dalgety and Co., Ltd., report:— Sheep.—A very small yarding of all classes. Fat sheep were in short supply; small lots of both wethers and ewes showed an advance on last sale considering the quality. The store section comprised ewe hoggets and the first lot of ewes and lambs offered here at auction this season. Because of the shortage of grass there was little competition and passings were frequent. Cattle.—The yarding of fats was smaller than last sale and the quality was not up to the usual. A pen of bullocks realized last sales rates but cows and heifers did not realize the good values seen last sale, the decrease being 15/- to 20/- all over. The store cattle entry was small and prices were unchanged. There was a moderate yarding of dairy cows. Although there was competition for good sorts, dairy farmers were -iot operating to any extent. The dry weather has affected the growth to such an extent that sales were difficult to make. Best cows made up to £B.

Sales were: 6 fat bullocks at £l2 15/-, 1 fat cow £9 15/-, 1 at £8 12/6, 3 at £B, 1 at £7 12/6, 2 at £7 15/-, 1 at £7 10/-, 1 at £7, 2 at £6 12/6, 2 at £6 10/-, 1 at £6, 1 at £4 2/6, 1 at £8 2/6, 1 at £7 5/-, 1 at £5 17/6. 1 store cow at £5 7/6, 1 at £4 5/-, 1 at £3 17/6, 1 at £3; 1 heifer at £2 17/6, 1 at £2 12/6, 1 dairy heifer at £5; 1 dairy cow at £8 2 at £7 15/-, 1 at £5 10/-, 1 at £5, 1 at £3 15/-.

SYDNEY STOCK EXCHANGE MARKET RALLIES (Received October 15, 9.15 p.m.) SYDNEY, October 15. The share market rallied markedly today although the turnover was below normal and there was a strong lift in metal stocks. Banks and bonds were much firmer.

MELBOURNE SALES The Melbourne market shows a further improvement with base metal stocks again up sharply. There is a continued demand for bonds at higher prices with an absence of sellers. Sales were:

METAL MARKET (Received October 15, 6.30 p.m.) LONDON, October 14.

Buyers £ s d Sellers £ . s d Stock, 3i p.c., n n 1938-43 101 0 0 Stock, 3J p.c., 1938-52 104 0 V Stock, 3J p.c., n n 1939-43 101 0 0 Stock, 34 p.c., _ n n 1939-52 104 _0 0 Stock, 4 p.c., 1955 104 15 0 Bonds, 4 p.c., 1955 104 15 0 BANKS Australasia * — 11 10 0 Commercial 0 17 0 0 17 3 National of New Zealand 2 17 0 2 19 0 New South Wales 32 19 v New Zealand ■ - 2 4 3 New Zealand, Long “D” issue 18 6 — Union of Australia 9 10 0 — —. BREWERIES Dunedin Brewery Co. 18 6 — N.Z. Breweries 2 9 b COAL Kaitangata 1 3 3 Westport Coal 15 0 INSURANCE National 0 18 3 New Zealand 3 4 'g South British 4 15 0 LOAN AND AGENCY Goldsbrough, Mort and Co. — 1 14 0 N.Z. Loan and Mercantile 36 0 0 Wright, Stephenson (pref.) 1 0 3 1 1 3 MEAT COMPANIES N.Z. Refrigerating— (20/- paid) 10 9 «■" ■ (10/- paid) 0 10 1 Southland Frozen Meat — (ord., ex rights) — 1 10 0 South Otago Freezing Co. 5 0 0 6 0 0 SHIPPING Huddart-Parker 2 4 0 Union Steam Ship Co. (pref.) 16 3 — — P. and O. Stock 1 15 0 WOOLLEN MILLS Bruce 0 14 0 Kaiapoi (pref.) 0 17 3 MISCELLANEOUS Australian Glass — 4 11 0 Broken Hill Pty. 3 15 9 British Tobacco (Aust.) 2 9 3 Colonial Sugar Co. 46 10 0 — G. J. Coles 4 11 3 D.I.C. (pref.) 14 0 -- - Dominion Fertilizer 14 0 Dunlop Rubber (Aust.) 1 2 1 Hume Pipe (Aust.) 0 19 10 — McLeod Bros’ Soap 28 0 0 Milburn Lime and Cement 2 4 0 N.Z. Drug 3 14 6 N.Z. Farmers' Fertilizers 1 0 6 N.Z. Guarantee Corporation 0 5 0 N.Z. Paper Mills 1 7 6 Otago Daily Times 2 6 6 Wilson’s (N.Z.) Cement 1 0 3 Woolworths (N.Z.) 5 0 0 — Shillings, Ltd. 0 19 3 MINING Broken Hill South 1 18 3 — Big River 0 11 0 1 6 Electrolytic Zinc (ord.) 2 11 9 (pref.) 2 12 0 — Gillespie’s Beach 1 3 0 1 5 Goldfields Dredging 0 0 31 Kildare 0 1 3 Mount Morgans 0 9 9 Nokomai 0 2 6 Okarito 0 2 9 ——— Skippers 0 0 4 Waipapa 0 0 3 North Broken Hill 2 17 0 Rawang Tin 0 10 6 — UNLISTED Woolworths (Sydney) 1 10 3 Selfridges (Aust.) 1 11 0

£ S d Stock J 946-49 4p.c. (cum. int.) 104 15 0 Stock 1939-43 3‘/ a p.c. 101 7 6 do. 1938-53 104 5 0 Commercial Bank of Australia 17 0 do. (pref.) 9 11 6 National Insurance 18 0 N.Z. Insurance 3 4 0 Abraham and Williams (pref.) 4 15 0 North Auckland Farmers’ (B pref.) (2) 11 0 Pukemiro Collieries 18 0 Auckland Gas (cont.) 15 0 Australian Glass 4 11 0 Broken Hill Propty. 3 17 3 do. 3 17 6 Colonial Sugar 46 15 0 Dunlop Perdriau 1 1 9 Farmers’ Trading 19 11 G. J. Coles 4 13 0 New Auckland Laundry 1 1 3 N.Z. Refrigerating (£1 paid) 1 0 9 Wilson’s Cement 19 8 do. 19 9 Taranaki Oil 7 1 Mount Morgan 10 1 Unofficial Woolworths (Syd.) ex div.) (2) 1 9 10 WELLINGTON £ s d 4p.c. Stock 1946 (Thurs.) 103 0 0 Silverton Trams (Thurs.) 1 16 8 Australian Glass (Thurs.) 4 10 11 3’/2 p.c. Stock 1938-52 104 5 0 4 p.c. Bonds 1955 105 0 0 Commercial Bank of Australia 17 1 Bank of N.Z. 2 3 10>/2 Australian Glass 4 11 0 British Tobacco 2 8 0 Broken Hill Propty. 3 16 0 do. (2) 3 17 3 G. J. Coles 4 12 0 do. 4 13 0 do. 4 12 6 General Industries 19 0 Taranaki Oil 7 0 CHRISTCHURCH £ i d N.Z. Guarantee Corporation (3) 4 11 N.Z. Breweries 2 2 0 Tooth’s Brewery (2) 3 14 6 Broken Hill Propty. (2) 3 16 0 do. 3 17 0 do. (3) 3 16 10 Electrolytic Zinc (ord.) 2 12 9

do. 2 12 10 do. 2 13 0 do. (3) 2 13 3 do. (pref.) 2 14 6 do. (2) 2 14 9 G. J. Coles (2) 4 12 0 do. 4 11 9 Hume Pipe (Aust.) 1 0 0 Woolworths (N.Z., ord.) 5 0 0 Argo (cum. div.) 1 11 Broken Hill South 2 0 5 do. (5) 2 0 6 Mount Lyell (2) 1 19 0 do. 1 19 3 do. (2) 1 19 4 Mount Morgan 9 10 do. (8) 10 0 North Broken Hill (2) 2 19 3 do. 2 19 10 do. 3 0 2 Sales Reported Kaiapoi Woollens (17/- paid) 12 9 ' do. 12 11 Broken Hill South 2 0 10 Mount Lyell (2) 1 19 3 Unlisted Woolworths (Syd.. 5/- paid.) (ex div.) 1 9 11 DUNEDIN £ 6 d Electrolytic Zinc (ord.) 2 13 0 Mount Lyell (5) 1 19 3 Mount Morgan 10 0 North Broken Hill 2 19 3 Sales Reported Brown Ewing (pref.) (Thurs.) 1 2 6 Union Bank 9 10 0 N.Z. Insurance (2) 3 4 0 Union Steam (pref.) 1 6 6 N.Z. Refrigerating (paid) 1 0 9 Kaiapoi (ord.) 12 9 Associated News (pref., 2) 1 4 0 Australian Glass 4 10 6 N.Z. Drug 3 15 0 Electrolytic Zinc (pref.) 2 14 6 do. (ord., 2) 2 13 0 Broken Hill South 2 0 8 Mount Lyell I 19 0 do. (2) 1 19 3

Sales were: £ s d Bank of New South Wales 34 0 0 Commercial Bank of Sydney 20 15 0 National Bank (£10 paid) 14 8 0 Colonial Sugar 47 2 6 Adelaide Steam 1 12 3 Associated News 1 3 0 Australian Gas (A) 7 7 6 British Tobacco 2 9 0 Tooth’s Brewery 2 15 0 Toohey’s Brewery 1 11 9 Carlton Brewery 3 4 3 G. J. Coles 4 13 3 Dunlop Perdriau Rubber 1 2 0 General Industries (N.Z. delivery) 19 6 Felt and Textiles 2 2 0 Sargents 1 10 0 Peters 2 14 9 Goldsbrough Mort 1 13 3 Henry Jones 2 9 0 Standard Cement 17 6 Union Steam (pref.) 1 6 6 Electrolytic Zinc 2 14 6 do. (pref.) 2 16 3 Mount Morgan 10 3 Mount Lyell 1 19 6 Broken Hill Propty. 3 18 6 South Broken Hill 2 1 9 North Broken Hill 3 1 0 Zinc Corporation 5 15 0 Larut 17 0 Placer Development 3 11 6 Emperor 11 10

£ s d National Bank (£5 paid) 7 4 0 do. (£10 paid) 14 8 0 G. J. Coles 4 13 9 Australian Glass 4 11 3 Goldsbrough Mort 1 13 0 Hume Pipe 1 0 2 Felt and Textiles 2 1 9 Yarra Falls 2 0 0 Australia Paper Manufacturers (pref.) (fully paid) 1 4 6 Jason Trust 10 1 Mount Morgan 10 5 Mount Lyell 1 19 6 Broken Hill Propty. 3 18 0 North Broken Hill 3 0 6 South Broken Hill 2 1 9 Emperor 11 10 Loloma 19 3

Metals are quoted as follows:— Oct. : 13 d Oct. 14. £ s £ s d CopperStandard, Spot 45 13 Hi 45 8 9 Forward 45 18 9 45 13 9 Electrolytic 51 10 0 51 10 0 to 53 10 0 52 10 0 Wire bars 53 10 0 52 10 0 Lead — Spot 18 0 714 18 0 712 Forward 18 0 71'2 18 1 1014 Spelter— Spot 17 16 3 17 18 114 Forward 18 1 1014 18 3 114 TinSpot 224 2 6 226 12 6 Forward 223 2 6 225 7 6 SilverFine, per oz 19 15-16d 19 J5-16d Standard, per oz 21 lid 21 lid