MONEY AND MARKETS

Southland Times, Issue 23335, 20 October 1937, Page 3

MONEY AND MARKETS

SHARE MARKET INVERCARGILL STOCK EXCHANGE AUSTRALIAN STOCKS FLUCTUATE Australian mining and industrial shares fluctuated in price on the Invercargill Stock Exchange yesterday. It is unlikely that stability will be reached in these particular stocks until after the Federal elections on Saturday. Quotations were called as follows: — GOVERNMENT DEBENTURES

SYDNEY STOCK EXCHANGE MARKET WEAKENED BY NEW YORK BREAK (Received October 19, 10.5 p.m.) SYDNEY, October 19. A distinct weakness was again evident on the Stock Exchange in metal stocks because of a sharp break in the New York market. Only minor price changes occurred among

MELBOURNE SALES With the renewed selling in the New York market today developed an irregular tone and lower prices were recorded in industrial leaders and base metal stocks in expectation of the London market being weaker tomorrow. Sales were:

SHEEPSKIN SALE AT DUNEDIN (United Press Association) DUNEDIN, October 19. A sale of sheepskins was held today when a full-bench of buyers was represented. Large catalogues were offered by various selling brokers. Because of the lack of overseas orders and the depressed state of the market caused through the uncertain international outlook and the restricted American and Japanese competition, prices were from 3d to 9d a lb below those ruling at the last auction. Following is a range of prices:—Fine halfbred full-wool 13d, fine halfbred full-wool 12fd, fine halfbred three-quarter-wool to llld, fine halfbred halfwool to 9fd, fine halfbred quarter wool to 9Jd, fine crossbred full-wool to lljd, fine crossbred three-quarter-wool to lOi’d, fine crossbred half-wool to lOd, fine crossbred quarter-wool to medium crossbred full-wool to 11-Jd, medium crossbred three-quarter-wool to 101 d, medium crossbred half-wool to 9d, medium crossbred quarter-wool to 7jd, strong crossbred full-wool to IOJd, strong crossbred three-quarter-wool to IOJd, strong crossbred half-wool to 9d, strong crossbred quarter-wool to 71d, halfbred hoggets to 12d, fine crossbred hoggets to lid, crossbred to IOJd, dead and damaged half-bred full-wool to HJd, dead and damaged fine crossbred full-wool to lOd, dead and damaged crossbred full-wool to 9’d dead and damaged halfbred half-three-quarter-wool to 9zd, dead and damaged fine crossbred half-three-quarter-wool to B£d, dead and damaged crossbred half-three-quarter-wool to Bd, first pelts to 6Jd, second pelts to 2jjd. MINING RETURNS i RIMU DREDGE (United Press Association) HOKITIKA, October 19. The Rimu Dredge return was 292.450 z for 134} hours’ work and 56,376 yards. THE PRICE OF GOLD LONDON, October 18. The price of gold is £7 0/4| an ounce. NEW MIDLAND BANK SHARES LONDON, October 16. The Midland Bank proposes to offer new £1 shares to shareholders in the proportion of one new share for every £2O of paid-up capital, at a price of £2 each. The proposal involves the issue of just over 70,000 shares, which will realize a cash sum of over £1,400,000. It is assumed that the object of the increase in capital is to bring the capital into closer relation with the steadily growing scale of operations.

Buyers £ s d Sellers £ s d Stock, 3J p.c., 1938-43 101 0 0 Stock, 3J p.c., 1938-52 104 0 0 — Stock, 3| p.c., 1939-43 101 0 0 Stock, 31- p.c., 1939-52 104 0 0 — Stock, 4 p.c., 1946 103 0 0 — Bonds, 4 p.c., 1946 103 0 0 — Stock, 4 p.c., 1949 102 0 0 Bonds, 4 p.c., 1949 102 15 0 — Stock, 4 p.c., 1955 104 15 0 — Bonds, 4 p.c., 1955 104 15 0 — BANKS Commercial 0 17 0 0 17 4 National of New Zealand 2 17 0 2 19 0 New South Wales 32 10 0 ■■ New Zealand 2 4 3 New Zealand, Long “D” issue 19 0 Union of Australia 9 12 b BREWERIES Dunedin Brewery Co. 19 6 — N.Z. Breweries 2 9 0 COAL Kaitangata 13 3 — Westport Coal 15 0 INSURANCE National 0 18 3 New Zealand 3 4 6 Standard 2 19 0 • - — LOAN AND AGENCY Goldsbrough, Mort and Co. 1 13 9 N.Z. Loan and Mercantile 36 0 0 Wright, Stephenson (pref.) ' 10 3 1 1 3 MEAT COMPANIES N.Z. Refrigerating— (20/- paid) 10 6 (10/- paid) 0 9 9 0 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 14 b WOOLLEN MILLS Kaiapoi (pref.) 0 17 3 Oamaru 0 19 6 MISCELLANEOUS Broken Hill Pty. 3 17 3 British Tobacco (Aust.) 2 9 0 G. J. Coles 4 13 3 D.I.C. (pref.) 14 0 ■ Dominion Investments 1 19 0 Dunlop Rubber (Aust) 1 2 3 Hume Pipe (Aust.) 0 19 10 Milbum Lime and Cement 2 4 0 N.Z. Farmers’ Fertilizers 1 0 6 N.Z. Paper Mills 1 7 6 Otago Daily Times 2 6 6 Wilson’s (N.Z.) Cement 1 0 0 Woolworths (N.Z.) 4 17 6 ■ Shillings Ltd. 0 18 9 MINING Broken Hill South 2 0 3 — Big River 0 1 b Electrolytic Zinc (ord.) 2 12 6 2 13 6 (pref.) 2 14 0 2 15 0 Gillespie’s Beach 0 13 0 1 5 Kildare 0 1 3 Mount Lyell 1 18 9 -■ — Mount Morgans 0 10 4 0 10 8 Nokomai - ■ 0 2 4 Okarito 0 2 9 Skippers 0 0 4 Wai papa 0 0 4 North Broken Hill 3 U 0 — Rawang Tin 0 10 6 — UNLISTED Woolworths (Sydney) n 1 10 6 Selfridges (Aus.) 1 11 0 NORTHERN EXCHANGES SALES ON ’CHANGE AUCKLAND £ « d Stock 1953-57 3’/ 2 pc. 99 0 0 Commercial Bank of Australia 17 5 do. 17 4 do. 17 2 National Bank of Australasia (£5 paid) 7 15 0 Bank of N.Z. (2) 2 3 9 South British 4 14 0 Auckland Gas (2) 1 2 0 Devonport Ferry 19 9 British Tobacco 2 8 6 Broken Hill Propty. 3 17 6 do. 3 17 3 do. 3 16 9 do. 3 16 6 G. J. Coles 4 13 3 do. 4 13 0 Morris Hedstrom 1 9 0 Radio (1936) 1 2 0 Taranaki Oil 7 0 do. 7 1 Wilson's Cement 19 8 W. R. Carpenter 2 6 6 Martha 16 0 Mount Lyell 1 19 0 do. 1 18 9 do. 1 18 6 do. 1 18 0 Mount Morgan 10 9 do. (2) 10 8 Overseas List Woolworth’s Holdings (S.A.) (2) 15 7 Unofficial Woolworths (Syd.) 1 9 8 WELLINGTON £ 8 d 3’/n p.c. Stock 1939-43 (Mon.) 101 7 6 do. (2) (Mon.) 101 7 6 do. 1954-57 98 15 0 Standard Insurance 2 19 9 N.Z. Refrigerating 10 0 do. 9 11 British Tobacco 2 8 6 Broken Hill Propty. (6) 3 17 0 Dunlop 1 2 1 Taranaki Oil (2) 7 0 McKenzies (odd lot) 4 5 6 do. 4 5 9 Grey River (6/3 paid) 7 11 Mount Lyell (2) 1 19 0 do. 1 18 9 Mount Morgan 10 8 Big River 1 3>/ 2 Unofficial Woolworths Ltd. (2) 1 9 11 CHRISTCHURCH £ « a Commercial Bank of Australia (3) 17 3 N.Z. Breweries (4) 2 9 0

do. 2 9 2 British Tobacco (2) div.) 2 8 6 Broken Hill Propty. (cum. 3 17 0 do. (2) 3 16 3 Electrolytic Zinc (ord.) do. 2 2 12 12 3 2 do. 2 12 1 Hume Pipe (Aust.) 1 0 0 Woolworths (South Africa) (2) . 15 9 Grey River (6/3 paid) (5) 7 11 Broken Hill South do. 2 2 1 1 3 4 Mount Lyell (3) do. 1 1 18 18 2 3 Mount Morgan 10 8 North Broken Hill 3 0 6 British Tobacco 2 8 8 Broken Hill Propty. (2) Canterbury Farmers’ Co-op. 3 17 0 (D pref.) 1 16 0 Dunlop Rubber 1 2 0 Electrolytic Zinc (pref.) 2 15 0 G. J. Coles 4 13 0 Clutha River 3 11 Mount Lyell 1 18 9 North Broken Hill 3 Burns Philp 2 19 0 DUNEDIN Sales Reported £ s d 4 p.c. Stock 1952-55 105 0 0 Bank of N.Z. 2 4 0 G. J. Coles 4 13 3 N.Z. Farmers’ Fertilizer (2) 1 0 0 Taranaki Oil * 1 Broken Hill South Electrolytic Zinc (pref.) 2 1 3 (after call) 2 14 10 Bank of New South Wales 33 0 0 Commercial Bank 17 0 Broken Hill South (2) 2 0 3 Mount Lyell (4) 1 18 9

the industrials. Sales were: £ s d Bank of New South Wales 34 0 0 Commercial Bank of Sydney 21 3 0 Commercial Bank of Australia 17 6 Union Bank 9 13 6 Colonial Sugar 47 2 6 Adelaide Steam 1 12 9 Australian Gas (A), old) 7 8 0 do. (B) 7 8 6 Tooth's Brewery 2 14 9 Toohey’s Brewery 1 11 9 G. J. Coles 4 14 0 Drug Houses 1 6 i'/ 2 Australian Glass 4 11 0 Dunlop Perdriau Rubber ' 1 2 4>i Farmers 1 13 6 Anthony Hordern 18 10>/ 2 Stedman 15 6 Morts Dock 10 11 Sargents 1 9 9 Newbold Brick 1 15 0 W. R. Carpenter 2 6 0 Mauri Brothers 3 8 6 United Provisions 7 6 Goldsbrough Mort 1 14 0 Wilcox Mofflin 11 6 Henry Jones 2 8 9 Meggitts 1 14 6 Standard Cement 1 17 6 Electrolytic Zine 2 11 6 Mount Morgan 10 7 Mount Lyell 1 18 0 Broken Hill Propty. 3 17 3 New Broken Hill Consolidated 14 3 North Broken Hill 2 19 6 Rawang Tin 10 9 Larut 16 O' Placer Development 3 9 3 Emperor 11 8

£ s d Commercial Bank of Australia 17 5 National Bank (£5 paid) 7 4 6 Bank of Australasia 11 5 0 British Tobacco 2 8 6 G. J. Coles 4 12 0 Australian Glass 4 10 6 Dunlop Perdriau Rubber 1 2 4 do. (pref.) 1 17 3 Goldsbrough Mort 1 14 0 General Motors 1 5 3 Cox Brothers 17 6 Felt and Textiles 2 1 6 Herald and Times 3 5 9 Electrolytic Zinc 2 11 6 do. (pref.) 2 13 9 Victoria Nyanza 18 0 Mount Morgan 10 7 Mount Lyell 1 17 7>/z Broken Hill Propty. 3 16 9 North Broken Hill 2 18 6 South BrokenHill 1 19 7>/2 Emperor 11 6 Loloma 17 9