MONEY AND MARKETS

Southland Times, Issue 23540, 21 June 1938, Page 3

MONEY AND MARKETS

GOVERNMENT SECURITIES QUIET ON INVERCARGILL EXCHANGE

There was a quiet tone existing for Government securities on the Invercargill Stock Exchange yesterday morning. The inquiry for banking shares was limited to a few lines. Nationals were firmer at £2 14/-, and Commercials -were steady at 15/10 to 16/-. New Zealand industrials were practically unchanged. There was a slight easing in the price for New Zealand Breweries. Commonwealth issues were all weaker and there were more sellers than buyers for all the leading lines. The market for .metal companies’ shares was a lifeless one and with the exception of Mount Morgans, prices were all weak. Sales of Commercial Banks at 16/and Dunedin Brewery (rights) at 7|d, were reported.

The Stock Exchange today showed no improvement sellers predominating. There is much comment in Sydney on the gradual falling of leading industrials for no apparent reason. Brokers questioned today stated that the unsettled conditions overseas were upsetting the investing community. Some people, rightly or wrongly, feared a mild business recession, and other reasons were the droughty conditions in Australia and the smaller wool clip. Most of the leading industrials, it is pointed out, have been too high and are now coming back to their proper value, in addition to which dividends have been too high and cannot be maintained; therefore it is not to be wondered at that' there are more sellers than buyers in the market. Sales:—

MINING CLUTHA RIVER COMPANY (United Press Association) DUNEDIN, June 20. The Clutha River Company reports a wash-up of 187 oz for 112 hours’ work. NOKOMAI COMPANY (United Press Association) The Nokomai Company reports that the No. 3 paddock has been completed for 3490 z lldwt. MATAKI (United Press Association) AUCKLAND, June 20. The Mataki return for the week ended June 19 was 28oz for 130 hours’ work and 8900 yards. GOLDFIELDS DREDGING (United Press Association) TIMARU, June 20. The Goldfields Dredging Company advises a wash-up of lloz sdwt for 126 hours’ dredging.

Quotations were:— GOVERNMENT DEBENTURES Buyers Sellers £ s d £ 9 d Btock, 4 p.c., 1946 102 10 0 Bonds, 4 p.c., 1946 102 10 0 Stock, 4 p.c., 1949 102 10 0 Bonds, 4 p.c., 1949 102 10 0 — BANKS Australasia 9 16 0 Commercial 0 15 10 Commercial of Sydhey 20 15 0 National of New Zealand 2 14 0 ■— New South Wales 31 15 0 New Zealand 2 3 3 2 4 0 New Zealand long “D” issue 19 0 Union of Australia 8 10 0 BREWERIES N.Z. Breweries 2 1 9 Dominion 1 17 3 COAL Westport Coal 14 0 ■ ■ ■- Westport-Stockton (pref.) 0 6 6 — INSURANCE National 0 17 10 Standard 2 17 3 LOAN AND AGENCY Dalgety and Co. 8 0 0 Goldsbrough, Mort and Co. 1 7 0 National Mortgage 2 3 0 ■II - Trustees’ Executors (Dunedin) 4 0 0 Wright, Stephenson (pref.) 1 1 0 MEAT COMPANIES N.Z. Refrigerating (20/- paid) 0 19 0 (10/- paid) 0 8 5 0 8 7 Southland Frozen Meat 19 0 1 10 0 SHIPPING Huddart-Parker 2 6 6 Union Steam Ship Co. (pref.) 16 0 1 7 0 WOOLLEN MILLS Bruce 0 5 0 — MISCELLANEOUS Australian Glass 4 13 0 Broken Hill Pty. 2 17 6 British Tobacco (Aust.) 2 7 6 G. J. Coles ‘ 4 2 0 D.I.C. (ord.) 0 14 3 -1 - -— D.I.C. (pref.) 13 3 Dominion Fertilizer 14 0 Dominion Rubber Co. 1 5 0 Donaghy’s Rope and Twine 2 5 6 Dunlop Rubber (Aust.) 1 0 0 Mil burr. Lime and Cement 1 17 0 McKenzies 3 3 9 N.Z. Drug 3 7 6 - N.Z. Farmers’ Fertilizers 0 18 6 0 19 3 N.Z Guarantee Corporation 0 4 4 - N.Z. Paper Mills 10 3Wilson’s (N.Z.) Cement 0 16 8 Woolworths (N.Z.) 1 1 0 Woolworths, Ltd. 10 5 1 0 8 MINING Broken Hill South 1 4 6 Big River 0 1 1 Electrolytic Zinc (ord.) 1 16 0 (pref.) 1 19 6 2 1 0 Gillespie’s Beach —- 0 0 91 Goldfields Dredging 0 0 2 - — Mount Morgans 0 8 4 0 8 9 Nokomai 0 13 0 1 8 Waitahu 0 0 8 - Waipapa 0 0 1 North Broken Hill 1 18 6 i Taranaki Oil 0 13 1 0 13 10■ 1 UNLISTED Woolworths Proper- ' ties (rights) 0 3 6 - — AUCKLAND £ s d Stock, 1953-57. 3V 2 pc. 97 5 0 ’ do.. 1952-55. 4 p.c. 102 0 0 do.. 1939-43, 3>/ a p.c. 100 2 6 National Bank of New Zealand (2) 2 15 0 Bank of New South Wales 31 10 0 fclnion Bank 5 9 Auckland Gas I 0 3 Farmers’ Co-op. (B pref.) . 1 0 (Dominion Breweries 16 0 (Australian Alloy Steel 6 9 [Australian Glass 12 6 proken Hill Proprietary 15 6 do. 15 3 do. 15 6 Bycroft 1 0 Colonial Sugar 4 15 0 punlop Perdriau 19 5 plectrolytic Zinc (pref.) 0 0 Farmers’ Trading 1 0 Morts Dock 10 5 Feter’s Ice 3 0 {Taranaki Oil 12 2 do. 11 10 JVilson’s Cement 16 4 RVoolworths Properties (rights) 3 4 f.Iount Morgan 9 5 WELLINGTON Late Sales on Saturday £ s d p.c. Stock. 1939-43 10C 2 6 Union Bank 8 5 9 Christchurch Gas (ord.) 1 7 6 ] taranaki Oil 13 6 IVoolworths Ltd. 1 0 5 jyloturoa Oil (2) 6 0 Sales Yesterday L’nion Bank 8 5 9 Colonial Sugar 46 18 0 faranaki Oil 13 0 I do. (2) 13 1 tc do. (2) 12 10 p do. 12 3 E (Voolworths Ltd. (ord.) (2) 1 0 4 flnthony Hordern 16 10 C 2 CHRISTCHURCH ti £ s d £ank of New Zealand 2 3 6 iVestport-Stockton Coal 3 7 do. 3 8 p Australian Glass (cum. div.) 4 12 0 jc British Tobacco 2 5 9 cl broken Hill Proprietary 2 5 4 ol do. 2 5 2 do. 2 5 1 do. 2 5 0 do. 2 5 6 er r. J. Coles 4 0 3 E loturoa Oil 6 0 P ’aranaki Oilfields 13 0 te

Woolworths (Sydney, ord.) do. 10 4 10 5 Woolworths Properties (rights) 3 7 do. • 3 8 Maori Gully (2) Broken Hill South 5>/ 2 14 6 do. (2) 14 9 Mount Lyell (ex div.) 12 5 Mount Morgan (cum div.) (2) 8 6 North Broken Hill (cum div.) (4) 1 16 3 do. (2) 1 16 2 Sales Reported Westport-Stockton Coal (2) 3 8 ■ British Tobacco 2 5 9 Wilcox Mofflin 5 10 do. 6 0 Christchurch Gas 17 6 N.Z. Guarantee Corporation 4 6 Mount Lyell (ex div.) 12 5 Commercial Bank of Australia (pref.) 9 4 0 Westport-Stockton Coal 3 8 Bank of New Zealand 2 3 6 • Unofficial List Kanieri 15 0 DUNEDIN N.Z. Refrigerating (contr.) £ s d 8 4 Sales Reported National Mortgage (£2 paid) 2 3 0 Moturoa Oil (ord.) 6 0 do. 5 10 Taranaki Oil 12 11 Mount Morgan 8 6 Sales After Call Broken Hill Proprietary 2 15 9 Taranaki Oilfields 12 4 Mount Lyell (3) 12 5 SYDNEY (Received June 20, 9 pan.) SYDNEY, June 20.

£ s d Bank of New South Wales 21 12 6 Commercial Banking of Sydney 20 13 0 Colonial Sugar 47 0 0 Adelaide Steam 1 14 0 Howard Smith 19 6 British Tobacco 2 6 0 Tooth’s Brewery 2 13 6 Toohey’s Brewery 1 11 0 G. J. Coles 4 1 0 Australian Glass 4 12 9 Dunlop Perdriau Rubber 19 7*/ a Dunlop Perdriau Rubber (pref.) 1 17 9 Farmers 1 12 0 Anthony Hordern 16 9 David Jones 1 18 0 General Industries 17 3 General Industries (pref.) 1 4 6 Kandos 1 4 3 W. Adams 15 6 W. Atkins 1 2 l>/ 2 Woolworths 1 0 6 Woolworths (rights) 3 5 Gordon and Gotch 2 10 0 Wilcox Mofflln 6 0 Fairymead Sugar 1 13 0 Mount Morgan 8 8 Mount Lyell (ex div.) 1 3 0 Placer Development 3 15 6 Kuala Kampar z 16 3 Rawang Tin 8 2 Loloma 1 2 7 Taranaki Oil 12 0 MELBOURNE The market is quiet. Sales:— £ S d National Bank (£10 paid) 13 6 0 Yarra Falls 1 17 5 British Tobacco 2 5 9 G. J. Coles 4 1 0 Australian Glass 4 12 6 Dunlop Perdriau Rubber 19 9 Mount Morgan 8 6 Mount Lyell 1 2 9 Broken Hill Proprietary 2 17 0 North Broken Hill 1 17 4 South Broken Hill 1 5 6 Emperor 12 5 Loloma 1 2 9