MONEY AND MARKETS

Southland Times, Issue 23531, 10 June 1938, Page 3

MONEY AND MARKETS

GOVERNMENT LOANS FIRM ON INVERCARGILL EXCHANGE Government loans remained firm on the Invercargill Stock Exchange yesterday. Banks were quiet with INew Zealands a little firmer at £2 4/9. Commercials were placed at 15/9. Insurances were steady and unchanged. Australian industrials held late rates, few fluctuations being recor e . G. J. Coles had buyers at £4 1/9. Woolworths (Sydney) were a little easier with sellers at £1 1/-. The chief item of interest among New Zealand issues was the sharp rise in the price of Taranaki Oils. McKenzie’s Stores, ex dividend had sellers at £3 5/-. Dominion Fertilizers were also quoted ex dividend, with buyers at £1 4/3. The market for metal companies’ shares was an uncertain one.

Quotations are as follows:— GOVERNMENT DEBENTURES Buyers Sellers £ s d £ s d Stock, 3 J p.c., 1938- — 102 5 0 Stock, Si p.c., 1939- 102 5 0 Stock, 4 p.c., 1946 102 5 0 Bonds, 4 p.c., 1946 102 5 0 Stock, 4 p.c., 1949 102 10 0 —— Bonds, 4 p.c., 1949 102 10 0 Stock, 4 p.c., 1955 104 0 0 Bonds, 4 p.c., 1955 104 0 0 ——— BANKS Commercial 0 15 6 0 15 11 E. S. and A. Bank 4 16 3 National ot New Zealand 2 11 9 — ~ New South Wales 32 0 0 New Zealand 2 4 8 — New Zealand Long “D” issue 19 6 Union of Australia 8 3 0 — BREWERIES N.Z. Breweries 22 3 2 3 0 COAL Kaitangata ,17 0 19 0 Westport Coal 14 0 Westport-Stockton (pref.) 0 6 2 INSURANCE National 0 17 7 — New Zealand 2 17 9 LOAN AND AGENCY Wright, Stephenson (pref.) 1 0’ 0 1 1 0 MEAT COMPANIES N.Z. Refrigerating (20/- paid) 019 0 (10/- paid) 0 8 4 0 8 5 Southland Frozen Meat 18 9 — South Otago Freezing Co. 5 11 0 SHIPPING Huddart-Parker (pref.) 18 0 Union Steam Ship Co. (pref.) 16 3 WOOLLEN MILLS Bruce 0 5 6 — MISCELLANEOUS ' Broken Hill Pty. 3 10 G. J. Coles 4 16 D.I.C. (ord.) 0 14 3 D.I.C. (pref.) 13 3 Dominion Fertilizer 14 3 ' Donaghy’s Rope and Twine 2 7 0 Dunlop Rubber (Aurt.) 10 9 113 Milbum Lime and Cement „ 1 „ McKenzies, Ltd. — 3 5 0 N.Z. Drug 3 7 0 N.Z. Farmers’ Fertilizers 0 18 9 • N.Z. Guarantee Corporation 0 4 4 ——-—- N.Z. Paper Mills 116 Permanent Building Society 5 16 0 — Woolworths (N.Z.) 0 19 3 ——- - Woolworths, Ltd. 110 MINING Broken Hill South 17 6 17 9 Big River 0 10 Electrolytic Zinc (ord ) 116 9 (pref.) • 22 U Gillespie’s Beach ■ 0 0 10 Goldfields Dredging 0 0 2J 0 0 4 Mount Lyell 1 2 9 Mount Morgans 0 8 10 Nokomai “—~ 0 2 3 Waitahu 0 0 8 North Broken Hill 1 18 6 ■ Taranaki Oil 0 10 0 UNLISTED tilizers 0 18 6 ' Woolworths Properties, Ltd. (rights) — 0 4 0 AUCKLAND £ s d Auckland Harbour Board, 4>/< p.c., 1949 0 0 Mount Albert, 1952, 4% p.c. 105 0 0 Northern Steam (paid) 11 New Zealand Breweries 22 11 Colonial Sugar 41 12 6 Fanners’ Trading (B pref.) 1 9 9 Moturoa Oil 5 0 Taranaki Oil J} ® do. 11 8 do. 12 0 Woolworths (Sydney) J 0 8 \ do. 109 Golden Crown 3 0 Mount Lyell 12 9 Overseas List Woolworths Holdings (South Africa) I® 0 WELLINGTON Late Sales Wednesday n ~ zl

SYDNEY (Received June 9, 8.45 p.m.) SYDNEY, June 9. Coincident with the arrival of five American experts who are on their way to New Zealand, where they will drill for oil, a further sharp rise in Taranaki Oil occurred on* the Stock Exchange today. These shares have risen by almost 4/- in a week. The investment market otherwise was dull and generally weaker.

MELBOURNE The Stock Exchange market is very dull, with little variation in prices. Barriers sold freely today, in sympathy with the falls overseas. Sales:—

LONDON LONDON, June 8. Quotations on the Stock Exchange today were:— £ s d Clutha RiverBuyers 1 7 J ,i Sellers 1 10',i Molyneux River— Buyers 1 Sellers 1 4>i SALE OF PROPERTY TRANSACTIONS AT GORE J. E. Watson and Co., Ltd., report having completed recent property sales at Gore as follows:— Account McPherson and Robertson, Riversdale, their 412 acres freehold farm, to Mr W. McEobie, of Balfour. Account Mrs Smaill, Riversdale, her 236-acre freehold farm, to Mr J. D. McPherson, Riversdale. Account Mrs Church, Glenelg, Balfour, her 447-acre freehold farm, to Mr John Dennis, Waikaia. Account trustees of D. O’Shea, Balfour, a 312-acre freehold farm, together with stock and plant, to Mr A. W. Eaton, Waitahuna. Account Mr E. M. Leggett, The Keys, Mossburn, his grazing run of 5217 acres, together with all stock and plant, to Messrs J. and J. Crossan, of Goodwood. COMPANY NEWS BALLIN’S BREWERIES, LTD. (United Press Association) CHRISTCHURCH, June 9. Ballin’s Breweries (N.Z.) Ltd., announces an interim half-yearly dividend at the rate of 4 per cent, per annum. The company’s first accounts, presented last November, showed a net profit of £9664, and the directors anticipated dividend payments shortly. THE WOOL MARKET WELL-GROWN SORTS FIRM AT SYDNEY (Received June 9, 8.40 p.m.) SYDNEY, June 9. At the wool sales 9594 bales were offered and 6160 were sold, also 717 privately. The market closed firm at late rates for all well-grown wools and other sorts were irregular and weaker. The average price for wool for the first three days this week was £l2 4/6 a bale or 9.6 d per lb. LONDON RATES OF INTEREST (Received June 9, 6.30 p.m.) LONDON, June 8. Discount and short-loan rates of interest are as follows: Day-to-day loans, J per cent., fine trade bills (three months), 2 to 2J per cent., bank bills (three months), j per cent., bank bills (six months), § per cent.; Treasury bills (two months), a I per cent.; Treasury bills (threemonths), | 9-16 per cent.

CHRISTCHURCH

£ s d i p.c. Stock, 1946 103 2 6 Commercial Bank of Australia 15 11 N.Z. Guarantee Corporation 4 5 Consolidated Brick 8 10 Sharland (pref.) 16 3 Taranaki Oil 11 0 do. 11 1 Woolworths Ltd. 1 0 9 Broken Hill South 1 7 6 Sales Yesterday Bank of New Zealand 2 4 9 Bank of New South Wales 31 12 6 National Bank of Australasia (£10 paid) 13 6 6 Union Steam (pref.) 1 6 6 Westnort Coal 1 4 0 Moturoa Oil (3) 4 0 G. J. Coles (odd lots) (2) 4 2 0 do- | 4 2 0 Taranaki Oil 11 6 do. 13 0 do. 12 9 do. 12 6 do. (3) 13 0 Wilson’s Cement 16 9 Woolworths Ltd. (rights) (2) 3 11 Overseas Listings Woolworths Holdings 16 0 Unofficial List Westland Brewery (15/- paid) 1 3 9

£ s d Dalgety and Co. S 0 0 N.Z. Refrigerating (10/- paid) 8 3 New Zealand Breweries M 2 2 7 do. 2 2 6 do. (2) 2 2 9 Broken Hill Proprietary (2) 2 19 6 Taranaki Oilfields 11 0 do. 12 0

do. (2) 12 6 Woolworths Properties (rights) (2) Woolworths (South Africa) 3 16 10 0 Mount Morgan (2) 8 10 North Broken Hill (cum. div.) 1 18 6 Sales Reported Bank of New South Wales Taranaki Oilfields (Wednesday) 31 11 6 (2) New Zealand Breweries 2 11 2 0 11 Taranaki Oilfields (2) 12 6 Broken Hill South 1 7 6 N.Z. Farmers’ Co-op. (A pref.) 1 17 6 Unlisted Stocks Blackball Creek (3) 1 4 Lange’s Mobile Gas 1 5 0 DUNEDIN £ S d Mount Morgan (7) 104 8 9 4 p.C. Stock, 1952-55 0 0 North Broken Hill (2) 1 18 0 Woolworths Properties (rights) 3 10 Sales Reported Auckland Harbour Board Deb., 4 \\ p.c., 1952 106 0 0 do. 1953 106 0 0 Commercial Bank (2) 15 9 Westport Coal 1 4 0 Wilson’s Cement 16 10 Farra Falls 1 18 4 Sharland and Co. 16 3 New Zealand Breweries (2) 2 2 8 Sales After Call North Broken Hill 1 18 0 New Zealand Breweries 2 3 0

Sales:— £ s d Bank of New South Wales 32 2 6 Bank of Australasia 9 18 0 Colonial Sugar 47 15 0 Associated Newspapers (pref.) 1 3 6 British Tobacco 2 8 0 Tooth’s Brewery 2 14 9 Australian Glass 4 13 9 Dunlop Perdriau Rubber 1 10 l>/2 Fanners 1 13 6 General Industries 17 9 Morts Dock * 11 2 Hume Pipe 19 I’/z W. R. Carpenter 2 3 6 United Provisions 6 0 Australian Gypsum 1 0 3 W. Adams 15 9 Producers and General 7 10 Woolworths 1 0 9 Permewan and Wright 1 9 0 Electrolytic Zinc 1 16 6 Mount Morgan 8 8 Mount Lyell 1 3 I’/s Broken Hill Proprietary 3 0 0 South Broken Hill 1 4 7 Larut 12 6

£ s d Commercial Bank of Australia 16 0 National Bank (£5 paid) 6 12 0 G. J. Coles 4 2 6 Dunlop Perdriau Rubber 1 0 10 Dunlop Perdriau Rubber (pref.) 1 18 0 Electrolytic Zinc 1 16 6 Electrolytic Zinc (pref.) 2 1 6 Mount Morgan 8 9 Mount Lyell 1 3 0 Broken Hill Proprietary 3 0 6 Broken Hill Proprietary (new issue) 1 16 6 North Broken Hill 1 17 0 South Broken Hill 1 7 6 Emperor 12 4 Loloma 1 1 9