MONEY AND MARKETS

Southland Times, Issue 23652, 29 October 1938, Page 4

MONEY AND MARKETS

BANKS REMAIN STEADY ON INVERCARGILL EXCHANGE There was no change in the markets on the Invercargill Stock Exchange yesterday. Government loans were very quiet. Banks were steady and unchanged.' Fair support came for Commonwealth industrials, but New Zealand issues were very quiet. There was a slightly better market for some of the metal companies’ shares. A sale of Union Banks at £8 15/9 was reported.

Quotations were as follows:— GOVERNMENT DEBENTURES Buyers Sellers £sd £ s d Stock, 4 p.c., 1946 100 0 0 Bonds, 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 5 0 Bonds, 4 p.c., 1955 — 100 5 0 BANKS Commercial —-— 0 16 10 E. S. and A Bank 5 7 0 National of Australasia 613 0 National of New Zealand , 2 9 6 211 0 New South Wales 31 5 0 New Zealand 2 16 .New Zealand, long “D” issue 19 3 Union of Australia 8 14 0 BREWERIES N.Z. Breweries 2 .0 0 2 0 9 COAL Westport Coal 1 3 11 INSURANCE National 0 16 10 South British —2 4 0 Standard 2 14 6 LOAN AND AGENCY Dalgety and Co. 8 0 0 Goldsbrough, Mort and Co. 19 0 Trustees’ Executors (Dunedin) 4 0 0 Wright, Stephenson (pref.) 10 8 MEAT COMPANIES Gear Meat Co. 015 0 N.Z. Refrigerating (20/- paid) 0 18 0 (10/- paid) 0 710 0 8 4 Southland Frozen Meat 110 3 SHIPPING Union Steam Ship (pref.) 16 0 P. and O. Stock 16 0 — WOOLLEN MILLS Bruce 0 3 6 Mosgiel — 915 0 MISCELLANEOUS Australian Glass 416 0 .Broken Hill Pty. 217 6 218 3 G. J. Coles 319 3 D.I.C. (pref.) — 13 3 Dominion Fertilizer ——— 14 0 Donaghy’s Rope and Twine 2 4 0 Dunlop Rubber (Aust.) 10 3 - Hume Pipe (Aus.) — 019 9 Milburn Lime , and Cement — 115 6 Otago Daily Times 2 3 0 Permanent Building Society 5 15 0 Wilson’s (N.Z.) Cement 0.16 0 017 6 Woolworths (N.Z.) — 0 19 11 Woolworths, Ltd. — 113 MINING Broken Hill South 112 6 Big River Oil Electrolytic Zinc (ord.) 2 5 6 Gillespie’s Beach 0 11 Goldfields Dredging 0 0 3} Mount Lyell 110 0 110 9 Mount Morgans 0 10 10 Nokomai 0 19 Waitahu 0 10 North Broken Hill 211 0 AUCKLAND

WELLINGTON

CHRISTCHURCH

DUNEDIN

Taranaki Oil 13 8 SYDNEY (Received October 28, 9.20 p.m.) SYDNEY, October 28. Business proceeded along quiet lines today, the tone of the market being steady

although the shares of leading shipping companies were stronger. Sales:

MELBOURNE There were few variations today in a quiet industrial market. The first sale was recorded of Claude Neon Industries in a new

WYNDHAM STOCK SALE

FAIR ENTRY OF SHEEP AND CATTLE

There was a fair entry of both sheep and cattle at the stock sale at Wyndham on Thursday. There was a medium yarding of fat sheep of fair quality and these realized about the same rates as at the last sale.

In the store sheep section there were quite a few pens of medium to good hoggets. There was a strong demand for this class and the lot was sold at auction at about 3/- ahead of last sale’s prices. A fair number of aged ewes and lambs came forward. These also met with good competition and realized prices slightly in advance of last sale. There was a fair entry of fat cows, with one or two pens of steers. The demand for these was not so keen as at last sale and prices for best quality dropped about 50/- a head. All classes of store cattle were wanted and sold at last sale’s rates. Good dairy cows were in demand and anything at profit sold well at late rates. Henderson and Co. Ltd. sold:—

One fat cow at £9 2/6, 1 at £9, 1 at £8 10/-, 1 at £8 2/6, 1 at £B, 1 at £7 12/6, 2 at £6, 1 at £6 5/-, 1 fat heifer at £6,1 at £5 7/6; 1 store heifer at £4 7/6, 1 at £4 12/6; 2 store cows at £5 10/-, 1 at £5 5/-, 1 at £3, 1 dairy cow at £ll,l at £9 15/-, lat £9 5/-, 1 at £9, 1 at £B, 1 dairy heifer at £B, 1 at £7 5/-, 1 at £5 15/-, 1 at £5 10/-, 9 breeding cows at £5 2/6; 12 steers and heifers at £4 7/-; 2 steers at £l3, 3 at £l2. Dalgety and Co. Ltd. sold: — Sheep.—Fourteen fat wethers (shorn) at 27/-, 20 at 25/-, 2 fat ewes (shorn) at 20/-; 95 ewes and lambs at 13/1, 63 at 13/1, 132 at 9/7; 72 ewe hoggets at 31/-, 30 at 30/7, 56 at 24/2, 58 at 22/6; 43 wether hoggets at 19/-. Sixty-seven wether hoggets were passed. Cattle.—Two fat cows at £l4 5/-; 1 fat heifer at £lO 10/-; forward cows at £6 7/6, £6, £5 12/6, £5 7/6; forward heifers at £5, £4 5/-, £4 12/6; 6 store 2-year-old heifers at £3 10/-; 1 dairy cow at £l2 15/-, 1 at £ll 12/6, lat £9 17/6, lat £8 10/-,.1 at £6; 1 dairy heifer at £6 10/-, 1 at £4 15/-. Pigs—One weaner at 25/-, 4 at 24/-, 2 at 23/-. Wright, Stephenson and Co. Ltd. sold:—

Three fat ewes at 24/6, 5 at 22/-; 200 ewe hoggets at 31/4, 81 at 30/10; 179 ewes and lambs at 12/-, 147 at 11/-, 120 at 10/5, 83 at 9/6; 1 fat cow at £9 15/-, 1 at £7 7/6, 2 at £5 1.5/-. Passed in: One fat cow at £6 15/-, 1 at £5 10/-, lat £6 5/-. ' National Mortgage and' Agency Co. Ltd. sold:— Ten fat wethers (shorn) at 22/3, 23 at 22/-, 29 at 21/-, 60 at 22/-; 41 store wethers at 17/6; 109 ewes and lambs at 14/10; 159 ewes and lambs at 14/10; fat cows and heifers at £l4 10/-, £ll 10/- (3), £lO 15/-, £lO 10/-, £lO, £8 15/-, down to £5 10/-; dairy cows at £6, £8 5/-, £lO, £ll, up to £l3 5/-.

Store Cattie. —Ten yearlings at £4; 12 2-year-old heifers at £4 17/6; 13 2-year-old steers at £6; 2 heifers at £6, 4 at £5 5/-.

KEEN COMPETITION FOR DAIRY COWS

MANY BUYERS ATTEND CLEARING SALE

Henderson and Co., Ltd., held a clearing sale on Wednesday on account of Mr J. H. Flett, of Kennington. The sale was a most satisfactory one. There was a. big attendance of buyers and there was keen competition for the dairy cows.

The prices were as follows:—82 ewes and lambs at 11/3; Southdown ram at 44 guineas; dairy cows at £ll, £l3 10/-, £6 5/-, £lO 5/-, £l2 15/-, £9 15/-, £6, £9, £8 10/-, £B, £lO 5/-, £6; heifers at £7, £5 5/-, £5 15/-; yearling heifers at £2 7/6; 3 sows at £2 5/-; 3-year three-quarter-draught mare at £l7 5/-; aged mare at £8 10/-; 2-year-old gelding at £10; jogger at £8; s.f. plough at £6 5/-; tine harrows at £5 5/-; scuffler at £3 7/6; disks at £5 10/-; sundries, harness and so on at full market rates. Outside entry.—l mare at £l5; dairy cows at £7 10/-, £4 7/6, £5, £5 15/-.

THE WHEAT MARKET

CARGOES EASIER AND PARCELS QUIET (Received October 28, 6.30 p.m.) LONDON, October 27. Wheat cargoes are easier and parcels are quiet. Futures. —London: October, 4/4?; December, 4/SJ; March, 4/SJ; May, 4/6|. Chicago: December, 65| cents a bushel; May, 670; July, 67£.

£ a Rural Bonds 1947 4p.c. 99 5 .0 Stock 1952-55 4 p.c. 99 10 0 Stock 1939-43 3'/ 2 p.c. 98 0 0 Stock 1938-52 3% p.c. 100 0 0 Auckland Harbour Board 1956 4*4 p.c10? 15 0 City of Auckland -1944 4’,4 p.c. 101 5 0 Whangarei Borough 1945-57 4*.4 P-c. 98 0 0 Bank of N.Z. 2 0 9 N.Z. Insurance 2 12 6 Pukemiro * 16 6 Renown (pref.)' 2 3 Northern Steam (paid) 3 9 N.Z. Breweries 2 0 6 do. 2 0 9 Alloys Steel (Aust.) 9 3 do. 9 S British Tobacco 2 8 2 Broken Hill Propty. 2 17 9 Bums Philp 2 13 0 Colonial Sugar 48 10 0 do. 48 5 0 Dunlop Perdriau 1 0 6 G. J. Coles 3 19 9 Imperial Chemicals (pref.) 1 2 8 Woolworths (N.Z.) 19 0 Martha 11 6 Mount Morgan 10 9 Waihi Investments 9 0 Unofficial List Southern Cross Investment and Rural Development Society 4 0

e ■ d David Jones (Thurs.) i 14 lO’.i Morris Hedstrom (Thurs.) i 6 7',i W. R. Carpenter (Thurs.) 2 3 9 Woolworths Ltd. (Thurs.) 1 0 11 North Broken Hill (Thurs.) 2 11 6 3Y1 p.c. Stock 1953-57 93 12 6 Bank of Australasia 10 6 0 Bank of N.Z. (4) 2 1 0 Broken Hill Propty. (8) 2 17 9 Colonial Sugar 48 7 6 Dunlop (pref.) 1 18 5 G. J. Coles 4 0 0 I.C.I. (pref.) 1 2 6 do. (2) 1 2 7

e s d Commercial Bank of Australia 16 9 National Bank of N.Z. 2 10 3 Woolworths (N.Z.) 19 0 Woolworths (South Africa) 14 10 N.Z. Refrigerating (£1 paid) (2) 17 0 Sales Reported E.S. and A. Bank 5 8 6 Bank of New South Wales 31 15 0 South British Insurance (ex div.) (2) 2 2 6 N.Z. Breweries 2 0 6 Broken Hill Propty. 2 17 10 National Insurance (cum div.) (Thurs.) 16 0 do. (Thurs.) 15 6 Unlisted Stocks Woolworth’s Properties 14 6

■e d Union Bank (Thurs.) 8 15 9 Dunedin City Debentures p.c. 1947-50 102 0 0 Invercargill City Debentures 4*,4 p.c. 1940 102 0 0 4 p.c. Stock 1943-46 99 15 0 4 p.c. Stock 1946-49 99 10 0 do. 1952-55 99 15 0 . After Call

£ s d Bank of New South Wales 31 5 0 Commercial Banking of Sydney 20 2 0 Colonial Sugar 48 5 0 British Tobacco 2 8 3 Australian Glass 4 19 6 Burns Philp 2 13 6 Huddart Parker 2 10 0 O. J. Coles 3 19 9 Tooth's Brewery 2 14 6 Toohey’s Brewery 1 11 0 Dunlop Perdriau Rubber (pref.) 1 18 H'z General Industries 18 3 Sargents 1, 7 0 Claude Neon 1 10 0 Felt and Textiles 1 11 3 Henry Jones 2 9 0 Waldas Shoes 5 9 Gordon and Gotch 2 12 9 W. Adams 14 8 Millaquin Sugar 1 19 0 Mount Lyell 1 10 0 Zinc Corporation 5 2 0

form at 30/6. Commercial Bank of Australia 15 11 Sales: ( £ s d National Bank (£5 paid) 6 14 0 Howard Smith 19 6 Carlton Brewery 3 5 9 G. J. Coles 3 19 6 Australian Glass 4 19 6 Dunlop Perdriau Rubber 10 5 Herald and Times 2 19 0 Hume Pipe 19 6 Yarra Falls 1 16 9 Electrolytic Zinc 2 5 9 Mount Morgan 10 9 Mount Lyell 1 10 0 Broken Hill Propty. 2 17 9 North Broken Hill 2 11 6 Broken Hill South 1 12 6 Emperor 12/. 8 Loloma 14 3