Money And Markets THE STOCK EXCHANGES

Southland Times, Issue 23513, 20 May 1938, Page 3

Money And Markets THE STOCK EXCHANGES

Australian Industrial Companies’ Shares Uncertain

DUNEDIN Sales Reported

WELLINGTON

MELBOURNE The market is unchanged.

THE PRICE OF GOLD

There was an uncertain tone among Australian industrial companies’ shares on the Invercargill Stock Exchange yesterday morning. Among New Zealand issues, Taranaki Oils attracted attention, buyers offering 8/9 for this line. Giltedged issues were quiet, but firm. Banking shares were inclined to be quiet. Commercials of Australia fell back in price, other issues being unchanged. Mining shares lacked interest, Mount Lyells showing a weaker market. Sales of Woolworths Properties Ltd. (rights) at 3/8 (2), Taranaki Oils at 8/10 and Mount Morgans at 8/61 were reported.

SYDNEY (Received May 19, 8.35 p.m.) SYDNEY, May 19. Dull conditions prevailed on the Stock Exchange with only minor price movements. Commercial Banking shares fell sharply and Barriers are selling steadily. Sales:

THE RESERVE BANK (United Press Association) WELLINGTON, May 19. Following is a statement of the assets and liabilities of the Reserve Bank of New Zealand as at the close of business on Monday, May 16.

Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 81.073 per cent. SMALL YARDING AT WINTON DEMAND FOR FAT SHEEP There was a small yarding at the Winton stock sale yesterday, comprising about 500 store sheep and 333 fat sheep. Fat sheep were in keen demand and store wethers and fat wethers realized the highest price for some time. Fat lambs made from 19/6 to 24/6, fat ewes from 10/- to 20/-, store wethers from 21/5 to 25/9, fat wethers 26/- to 29/6, ewe lambs 21/9 to 23/6 and sound mouth ewes 24/3. About 20 head of cattle was yarded | and fat stock sold well. Fat heifers ; made from £5 to £5 12/6, one bullock . £lO 10/- and one £8 15/-. Fat cows j realized about £4, and an empty cow made £2 5/-, a runner £4 12/6 and a dairy cow £2 17/6. Two old empty £ cows sold for 14/-. The sales were:— . The Southland Farmers’ Co-operative Association Ltd.—Twenty-three fat lambs at 23/11; 30 fat ewes at 13/6; / five fat lambs at 20/-, 25 at 20/6; 25 t fat ewes at 10/-, 20 at 12/6; 53 fat lambs at 24/6; 60 store wethers at 21/5, > 10 at 25/9; one fat heifer at £5 12/6; „ one bullock at £lO 10/-, one at £8 15/-; ‘ one runner at £4 12/6. National Mortgage and Agency Co., Ltd.—Thirty-five fat lambs at 19/6; 15 fat ewes at 11/9; 29 fat wethers at 26/-; 12 fat lambs at 22/6, four at 23/-; two fat ewes at 20/-; 46 fat lambs at 23/-; • 39 ewe lambs at 23/6; 49 s.m. ewes at 24/3; 20 f. and f. ewes at 12/-; one fat . heifer at £5 10/-; one fat cow at £4, * two at £3 17/6; one empty cow at J £2 5/-. r New Zealand Loan and Mercantile , Agency Co., Ltd.—Three fat lambs at r 24/-; 14 cull ewes at 2/-; 41 fat lambs y at 22/3. _ Wright, Stephenson and Co., Ltd.— “ Fifty wethers at 29/6, 51 at 26/—; four fat lambs at 15/-; two wether lambs . at 7/6; 80 ewes at 4/-; 15 ewe lambs . at 21/9; 60 ewes at 14/-, 28 at 10/3; one i. fat heifer at £5; one dairy cow at £2 17/6: two very old cows at 14/-. _ Dalgety and Co., Ltd., sold 60 wethers * at 25/6, 1 vealer at £2 10/-, 1 steer " at £7. t

LONDON, May 18. The price of gold is £7 an ounce.

GOVERNMENT DEBENTURES Buyers Sellers £ s d £ d Stock, 3-i p.c.. 1938-52 101 15 0 Stock, 3J p.c., 1939-52 101 15 0 Stock, 4 p.c., 1946 102 15 0 Bonds, 4 p.c., 1946 102 15 0 Stock, 4 p.c., 1949 103 0 0 Bonds, 4 p.c., 1949 103 0 0 Bonds, 4 p.c., 1955 104 5 0 — BANKS Australasia — 10 c 0 Commercial — 0 16 4 Commercial of Sydney — 21 0 0 E.S. and A. Bank 4 17 0 ■ ■ — — National of New Zealand — 2 13 9 New South Wales - — 32 5 0 New Zealand 2 4 0 New Zealand Long “D” issue 1 9 3 1 10 0 BREWERIES Dunedin Brewery Co. 1 12 0 N.Z. Breweries — 2 5 6 COAL Westport Coal 1 4 3 — INSURANCE National 0 17 4 0 17 6 LOAN AND AGENCY Goldsbrough, Mort and Co. 1 10 6 Trustees Executors (Dunedin) 3 16 0 Wright, Stephenson (pref.) 1 1 0 MEAT COMPANIES Gear Meat Co. — 0 16 6 N.Z. Refrigerating (20/- paid) 0 18 6 0 19 6 (10/- paid) 0 8 6 Southland Frozen Meat 1 8 0 1 9 0 South Otago Freezing Co. 5 8 0 — SHIPPING B Huddart-Parker 2 4 6 Union Steam Ship Co. (pref.) 1 7 0 — WOOLLEN MILLS Wellington Woollens — 5 8 0 MISCELLANEOUS Australian Glass — 4 14 6 Broken Hill Pty. 3 1 6 British Tobacco (Aust.) 2 8 3 2 8 9 Colonial Sugar Co. 48 0 0 - ■■■ ■- G. J. Coles 4 3 0 —■ D.I.C. (ord.) 0 14 9 Dominion Fertilizer 1 5 0 - Milburn Lime and Cement 1 18 0 McKenzies Ltd. 3 9 0 New Zealand Drug 3 7 6 — N.Z. Guarantee Corporation 0 4 4 Permanent Building Society 5 15 0 Woolworths (N.Z.) 1 1 3 ' — Woolworths Ltd. 1 2 2 Woolworths Pty. (rights) 0 3 8 — MINING Broken Hill South 1 10 0 — Electrolytic Zinc (ord.) ————— 2 2 0 (pref.) " ■ ■ — 2 7 0 Gillespie’s Beach 0 0 9 Goldfields Dredging — 0 0 4 Mount Lyell — 1 5 9 Mount Morgans — — 0 8 9 Nokomai 0 1 6 0 2 0 Waipapa 0 0 1 North Broken Hill ■ — 2 8 0 Taranaki Oil 0 8 8 — AUCKLAND £ S d Auckland Harbour Board, 1957. 4>/« p.c.. 106 10 0 Mount Roskill, 1949, 4 1 , 4 p c. 103 0 0 Commercial Bank of Australia (pref.) 9 7 6 Farm Auctioneering (A pref.) 1 2 3 do. (B pref.) 1 1 3 Auckland Gas (2) 1 0 6 do. (cum.) 14 4 New Zealand Brewerie / 2 5 0 British Tobacco 1 18 6 Broken Hill Pty. 3 2 3 Consolidated Brick 9 0 Farmers’ Trading (A pref.) (odd lot) 1 2 3 G. J. Coles 4 4 9 Taranaki Oil 8 9 Mataki Dredging 8*2 Waihi Junction 2 10

Late Wednesday £ Q d Broken Hill Pty. 3 2 3 Taranaki Oil (2) 8 8 Sales Thursday Stock, 3*,2 P-c.. 1943 100 5 0 Bank of Australasia 9 18 6 Commercial Bank of Australia 16 3 National Insurance 17 6 Carlton Brewery 3 G 10>/ 2 New Zealand Breweries 2 5 0 Broken Hill Pty. 3 2 0 Bums, Philip (ex div.) 2 14 0 Bums, Philip 2 14 3 G. J. Coles 4 4 10 do. 4 5 0 New Zealand Paper Mills (rights) 9 Hume Pipe 19 6 Moturoa Oil (ord.) 3 9 Taranaki 011 (5) 8 7 Woolworths Ltd. 1 2 3 Woolworth’s Rights 3 10 do. (5) 3 10>/ z Overseas Listings Late Wednesday Woolworth’s Holdings 16 1 do. 16 2 CHRISTCHURCH £ R 0 Commercial Bank of Australia 16 2 New Zealand Refrigerating (10/paid) 8 5 Broken Hill Pty. (4) 3 2 0 Dunlop Rubber 1 1 11 Taranaki Oilfields 8 5 do. (4) 8 6 Woolworth's Properties (rights) (4) 3 9 Woolworths Ltd. (Sydney ord.) 1 2 2 Mount Lyell (2) 1 5 6 North Broken Hill 2 7 5 Sales Reported Dalgety and Co. (cum div.) Mnur 'Zoninnd Panpr Mills (riehtsl 8 10 0

(2) 9 Grey River (10/- paid) 12 4 Waihi Grand Junction 2 10 Taranaki Oilfields 8 8

£ a <1 Mount Lyell (Wednesday) 1 5 6 G. J. Coles 4 4 9 After Last Call Taranaki Oil (2) 8 6 Mount Lyell (2) 1 5 9

£ s d National Bank (£5 paid) 7 0 6 Commercial Banking of Sydney 20 10 0 Colonial Sugar 48 17 6 South British Insurance 2 7 6 Associated Newspapers 1 0 9 Associated Newspapers (pref.) 1 3 6 British Tobacco 2 9 0 Tooth's Brewery (ex div.) 2 16 0 Dunlop Perdriau Rubber 1 2 3 Hume Pipe (New Zealand delivery) 19 9 Felt and Textiles 1 13 9 Newbold Brick . 1 12 1 Victoria Nyanza 16 0 Goldsbrough Mort 1 11 P. Adams 15 9 W. Atkins 1 3 0 Woolworths 1 2 6 Mount Lyell 1 5 6 Broken Hill Pty. 3 2 3 Placer Development 3 12 6

Sales: £ s d National Bank (£5 paid) 7 0 0 National Bank (£10 paid) 14 0 0 Australian Paper (pref.) 1 5 0 British Tobacco 2 9 3 G. J. Coles 4 5 0 Dunlop Perdriau Rubber 1 2 2 Dunlop Perdriau Rubber (pref.) 1 18 0 Yarra Falls 1 18 6 Victoria Nyanza 16 3 Felt and Textiles 1 13 6 Mount Lyell 1 5 6 Broken Hill Pty. 3 2 6 North Broken Hill 2 8 0 South Broken Hill 1 10 6 Zinc Corporation 4 3 6 Loloma 1 2 4)i

LIABILITIES 1. General reserve fund £ s 1,500,000 0 d 0 2. Bank notes 13,941,528 0 ,0 3. Demand liabilities— (a) State 4,428,314 5 11 (b) Banks 6,700,995 IS 2 (c) Other 375,751 0 7 4. Time deposits 5. Liabilities in currencies other 6. than N.Z. currencyother liabilities 295,325 6 4 TOTAL. £27,241,914 11 0 •7. ASSETS Reserve— (a) Gold 2,801,791 0 0 (b) Sterling exchange 17.828,604 18 3 8. (c) Gold exchange Subsidiary coin 227,793 3 3 9. 10. (1) Discounts— (a) Commercial and agricultural bills (b) Treasury and local body bills Advances— (a) To the State or State undertakings: Primary Products Marketmg Department 3,584,363 1 fl (2) For other purposes - - ■ 11. (b) To other public authorities (c) Other Investments 2,735,564 16 7 12. Bank buildings - , 13. Other assets 63,797 11 6 TOTAL £27,241,914 11 0