MONEY AND MARKETS

Southland Times, Issue 23649, 26 October 1938, Page 3

MONEY AND MARKETS

GOVERNMENT LOANS QUIET ON INVERCARGILL EXCHANGE Government loans were quiet on the Invercargill Stock Exchange yesterday. The demand for bank shares was not so pronounced. Insurances were not active. Industrial companies’ shares, both Commonwealth and New Zealands, did not have much support. Australian mining was steady with a good demand existing for Mount Lyells. Sales on Saturday of Commercial Banks at 16/11, Broken Hill Proprietaries at £2 18/4 and £2 18/IJ, Bank of New Zealand at £2 1/6 and Australian Foundation Trust at 5/-, were reported.

Quotations were:— GOVERNMENT DEBENTURES Buyers Sellers £ s d £ s d Stock, 4 p.c., 1946 100 0 0 Stock, 4 p.c., 1949 100 0 0 Bonds, 4 p.c., 1949 100 0 0 Stock, 4 p.c., 1955 100 0 0 Bonds, 4 p.c., 1955 100 0 0 BANKS Commercial 0 17 1 Commercial, pref. 4 p.c. (cum.) 9 9 0 E. S. and A. Bank 5 7 0 National of New Zealand 2 11 6 New Zealand 2 16 BREWERIES N.Z. Breweries 2 0 0 2 1 0 COAL Westport Coal 14 0 INSURANCE National 016 6 LOAN AND AGENCY Trustees’ Executors (Dunedin) 4 0 0 — Wright, Stephenson (pref.) 10 3 MEAT COMPANIES Gear Meat Co. 0 15 0 N.Z. Refrigerating (20/- paid) 0 18 3 Southland Frozen " Meat 1 10 3 SHIPPING Union Steam Ship (pref.) 15 9 P. and O. Stock 15 0 WOOLLEN MILLS Bruce 0 3 6 Mosgiel 9 15 0 MISCELLANEOUS Broken Hill Pty. 2 18 0 2 18 6 DJ.C. (pref.) 13 0 G. J. Coles 3 19 9 Donaghy’s Rope and Twine 2 4 0 Dunlop Rubber (Aust.) 110 Milburn Lime and Cement — 1 16 0 1.C.1. (pref.) 12 5 Otago Daily Times 2 3 0 Permanent Building Society 5 17 6 Woolworths (N.Z.) 10 3 Woolworths, Ltd. 113 MINING Broken Hill South 112 0 Big River Oil Electrolytic Zinc (ord.) 2 5 0 Gillespie’s Beach ——— Oil Goldfields Dredging 0 0 3J Mount Lyell 10 0 1 11 0 Mount Morgans 0 10 9 Nokomai 0 1 9 Waitahu 0 1 0 North Broken Hill 2 10 0 AUCKLAND £ ■ d Stock 1946-49 4 p.c. 99 7 6 Commercial Bank of Australia 16 8 do. (pref.) 9 13 0 Bank of N.Z. 2 13 Auckland Gas 19 0 Devonport Ferry 10 6 Australian Glass 4 18 0 do. 4 18 6 Broken Hill Propty. (2) 2 18 0 do. 2 17 9 Colonial Sugar 48 15 0 Dunlop Perdrlau 10 6 Imperial Chemicals (pref.) (3) 12 7 Unofficial List Nikau Bacon 10 0 WELLINGTON £ > d Bank of N.Z. (2) (Sat.) 2 13 do. (Sat.) 2 14 E.S. and A. Bank (Sat.) 5 9 9 Commercial Bank of Australia (pref.) (Sat.) (odd lot) 9 15 6 Australian Paper (pref.) (Sat.) 15 5 ' Colonial Sugar (Sat.) 48 12 6 Dunlop Perdrlau (Sat.) 10 8 1.C.1. (pref.) (Sat.) 12 6 Myers Emporium (pref.) (Sat.) 1 16 0 Australian Consol Stock 4 p.c. 1950 103 7 6 3>/ a p.c. Stock 1938-52 100 0 0 3)4 p.c. Stock 1939-43 98 5 0 Huddart Parker (2) 2 9 0 Silverton Trams 1 15 11 tj N.Z. Breweries (2) 2 0 6 Australian Paper (pref.) 5 4)4 Broken Hill Propty. 2 17 10 1.C.1. (pref.) 12 6 Myers Emporium (pref.) (2) 1 16 7 Woolworths Ltd. (ord.) (3) 1 0 11 CHRISTCHURCH £ • d ■ Commercial Bank of Australia 16 ST National Bank of N.Z. (2) 2 10 6 Goldsbrough Mort 1 8 11 N.Z. Breweries (2) 2 0 3 G. J. Coles 3 19 3 Woolworths (N.Z.) (4) 19 0 Argo Gold 1 10 Grey River 14 5 Mount Lyell 1 10 6 do. (2) 1 10 7 do. (3) 1 10 8 Sales Reported N.Z. Government 3 5 ,4 p.c. Inscribed 1953-57 03 10 0 do. 1938-52 100 0 0 G. J. Coles 3 19 3 Woolworths (Syd., ord.) 1 0 10 Grey River 14 6 Broken Hill South 1 12 5 N.Z. Government 4 p.c. Inscribed 1949 99 15 0 Unlisted Stocks Kanieri 12 6 DUNEDIN £ ■ d Broken Hill Propty. 2 17 9 Sales Reported Bank of N.Z. 2 13 Commercial Bank 16 10 SYDNEY (Received October 25, 9.15 p.m.) SYDNEY, October 25. With buyers showing little inclination to trade, only minor price changes were recorded on the Stock Exchange today. Australian Glass was subjected toproflt-taking and displayed a reaction. Base metal shares were inactive. Sales:

MELBOURNE Australian Glass reacted on profit-taking and investors were inclined to shade the prices of leading industrials. Barriers sold well but gold was quiet. Sales:

CLEARING SALE AT EAST GORE KEEN COMPETITION Wright, Stephenson and Co. Ltd. report having conducted a successful clearing sale on account of Mr J. P. Kitchen, East Gore, yesterday. There was a good attendance of buyers and competition was keen throughout Ewes and lambs were the main item and good prices were secured, the top price being 10/3 all counted. The cattle offered sold well and numerous sundries brought full market value.

Sales were: Sheep.—One hundred and fifty-five ewes and lambs at 10/- (all counted), 171 at 10/3 (all counted), 251 at 8/3 (all counted), 142 at 10/- (all counted), one Southdown ram at 2jgns, 2 at lb gns, 5 at 5/-. Cattle.—One first calver at £3, 6 yearling heifers at £1 12/-, 1 third calver at £6, 1 sixth calver at £3 15/-, 1 cow and calf at .£3 15/-, 1 second calver at £4 5/—, 1 third calver at £7. Horses. —One six year old hack gelding at £9 5/-, 1 3-year-old pony at £7 10/-. Sheep dogs sold at £7 15/- and £5 5/and numerous sundries sold at full market value. •.

MINING BLACKBALL CREEK (United Press Association) GREYMOUTH, October 25. The Blackball Creek return was 107 oz for 218 hours’ work on 19,700 yards. CLUTHARIVER (United Press Association) DUNEDIN, October 25. The Clutha River wash-up was 210 oz for 130 hours. GILLESPIE’S BEACH (United Press Association) DUNEDIN. October 25. Gillespie’s Beach reports a wash-up of 21oz lOdwt for 113 hours from 15,990 yards. MATAKI RETURN AUCKLAND, October 25. The Mataki return for the week ended October 23 was 470 z for 128 hours’ work and 8200 yards. WAIHI INVESTMENTS (United Press Association) AUCKLAND, October 24. A net profit of £11,177 is shown in the third annual accounts of Waihi Investments and Exploration, Ltd., London, according to cabled advice received by the New Zealand attorney, Mr R. G. Milligan. The directors recommend a dividend of 6 per cent, (less English income tax of 5/6 in the £1). If approved the dividend will be payable on all shares registered as at October 29. The amount brought forward was £2056 and the balance of the revenue account will be £2447. THE WOOL MARKET , BRADFORD QUIET AND FIRM (Received October 25, 6.30 p.m.) LONDON, October 24. The Bradford wool maiket is quiet and firm because of the top-makers’ attitude resulting from the relative dearness of wools in the primary markets. GOOD COMPETITION CONTINUES AT SYDNEY (Received October 25, 10.45 p.m.) SYDNEY, October 25. At the wool sales 12,282 bales were offered and 11,220 were sold, also 2106 privately. Good competition continues. Greasy Merino sold at up to 173 d. THE METAL MARKET (Received October 25, 6.30 p.m.) LONDON. October 24. Metals are quoted as follows:—

, THE PRICE OF GOLD LONDON, October 24. The price of gold is £7 5/11 an ounce.

£ s d Bank of New South Wales 30 17 6 Bank of Adelaide 6 4 0 Bank of Australasia 10 6 0 Colonial Sugar 48 15 0 Adelaide Steam 1 12 3 Australian Gypsum 1 0 6 W. Adams 14 6 British Tobacco 2 8 3 Tooth’s Brewery 2 14 9 G. J. Coles 3 19 6 Drug Houses 1 5 0 Australian Glass 4 18 6 Anthony Hordern 15 6 Lustre Hosiery 1 1 9 Kandos 1 6 3 Morts Dock 11 11

Australian Guarantee Corporation 1 1 6 Cash Orders 16 9 Felt and Textiles 1 11 6 Wlnchcombe Carson 1 6 3 Millaquin Sugar 1 19 0 Electrolytic Zinc 2 5 6 do. (pref.) 2 8 6 Mount Lyell 1 10 6 Broken Hill Propty. 2 18 0 North Broken Hill 2 11 6 Bulolo Gold 7 0 6 Rawang Tin 8 9 Oil Search 6 8

£ s d Commercial Bank of Australia 16 8 Adelaide Steam 1 12 0 Howard Smith 19 3 British Tobacco 2 8 6 G. J. Coles 3 19 6 Australian Glass 4 19 0 Dunlop Perdriau Rubber 1 0 5 Goldsbrough Mort 1 9 0 Herald and Times 2 17 9 Hume Pipe 19 6 Yarra Falls 1 16 6 Imperial Chemicals (pref.) 1 2 7 Electrolytic Zinc 2 5 6 Victoria Nyanza 14 6 Mount Morgan 11 0 Broken Hill Propty. 2 17 9 North Broken Hill 2 11 6 Broken Hill South 1 12 6 Emperor 12 9 Loloma 1 4 0

Oct. 20 Oct. 24 £ s d £ S d CopperStandard, spot 46 7 6 46 5 0 Forward 46 5 7’/ 2 46 9 4', 2 Electrolytic 52 0 0 52 0 0 to 52 10 0 53 0 0 Wire bars 52 10 0 53 0 0 LeadSpot 16 6 3 16 3 9 Forward 16 6 10'/ 2 16 6 10-/ 2 Spelter— Spot 15 6 3 15 7 6 Forward 15 8 l>/ 2 15 8 9 TinSpot 208 17 6 210 17 6 Forward 209 17 6 211 17 6 Silver— Fine, per oz. 19 ll-16d 19%d Standard, per oz. 21 Ud 21 3-16d