MONEY AND MARKETS

Southland Times, Issue 23693, 16 December 1938, Page 3

MONEY AND MARKETS

MINING MARKET FIRMER ON INVERCARGILL EXCHANGE

There was a better inquiry for Australian industrials on the Invercargill Stock Exchange yesterday. Among banks Nationals of New Zealands improved, with buyers moving up to £2 9/-. New Zealand industrials were unchanged. The mining market was a little firmer. Sales of Bank of New Zealand “D” shares at £1 5/3, Commercial Bank at 16/8 and 1939-43 3| per cent. Stock at £96 15/- were reported.

Quotations were as follows:— GOVERNMENT DEBENTURES

SYDNEY (Received December 15, 11.40 p.m.) SYDNEY, December 15. The feeling on the Stock Exchange was better today, with a much improved turnover. Medium-priced securities showed attractive yields and received good support.

MELBOURNE Australian Glass shares were again firmer but other industrials eased. The tone was generally better after the improvement overseas, but the turnover was limited. Barriers strengthened.

THE METAL MARKET (Received December 15, 6.30 p.m.) LONDON, December 14.

COMPANY NEWS WAITAKI FARMERS FREEZING In spite of the last killing season being a disappointing one for fattening because of the drought in the early summer months and the wet weather which followed, a good year was experienced by the Waitaki Farmers’ Freezing Company, Ltd. The chairman of the board of directors, Mr D. Williams, in moving the adoption of the annual report and balance-sheet at the eighteenth annual meeting, stated that the works received very satisfactory support from the producers of the district Reviewing the last season, the report stated that among lambs there was a high mortality, and the number carried over was higher than usual. As could be expected under the circumstances, average weights were lower, and the percentage of seconds considerably higher than those of the last few years. “While our lamb killings were lower, the increase in sheep resulted in the total showing little change from that of the previous year.” said the report. “The prices of mutton and lamb were not quite as good as those of the preceding year, because of the decline in wool and pelt values. Dui ug the year the directors, believing that such services would be of mutual advantage to producers and the company, made arrangements for the killing of pigs and calves at the works. , “The gross revenue, after < jviding for taxation and depreciation, was £13,677, while administrative and general expenses were £6619, leaving a profit for the year of £7058. When the increased cost of materials, wages, and taxation, as well as the fact that several of our by-products were at lower values, are taken into account, the year should be viewed as very satisfactory. To the profit of £7058 has to be added £934 brought forward from last year, making - total to be dealt with of £7992, and the directors recommend the payment of a dividend at the rate of 6 per cent., absorbing £5745, and the carrying forward of the balance of £2247.” The report and balance-sheet were adopted. The retiring directors, Messrs E. J. Meredith, John Newlands, and R. J. E. Smith, were re-elected. Mr D. V. G. Smith was reappointed auditor for the coming year. N.Z. PETROLEUM (United Press Association) GISBORNE, December 15. The New Zealand Petroleum Co., Ltd., today issued the following drilling report:— “The Totangi No. 1 Bore during the last fortnight vzas drilled to a depth of 2410 feet in sandstone, but because of a deviation from the vertical developing, it was filled with cement to 2070 feet. Drilling out to correct this deviation is now in progress.”

Buyers Sellers £ s d £ s d Stock, 3| p.c., 1939-43 98 0 0 Stock, 4 p.c., 1943-46 98 0 0 Bonds. 4 p.c., Iy4o-4o ya u Stock 4 p.c. 1946-49 ——— 98 0 0 Bonds. 4 p.c., 1946-49 98 0 0 BANKS Commercial 0 16 7 0 16 10 E. S. and A. Bank 5 9 0 National of New Zealand 2 9 0 ■ — New South Wales 29 10 0 - New Zealand 2 0 0 New Zealand Long “D” issue — 1 5 6 BREWERIES N.Z. Breweries 1 17 6 1 18 6 COAL Kaitangata 1 8 0 Westport Coal 1 1 0 1 2 3 Westport Stockton (pref.) 0 7 0 INSURANCE National 0 15 7 Standard 2 10 6 — LOAN AND AGENCY National Mortgage 2 2 0 Wright. Stephenson (pref.) 0 19 3 — MEAT COMPANIES N.Z. Refrigerating (10/- paid) 0 7 11 0 8 1 Southland Frozen Meat 1 10 0 SHIPPING Huddart-Parker (pref.) 1 9 6 " " 1 '■ WOOT,TEN MILLS Bruce 0 6 0 — Oamaru 0.10 0 —— MISCELLANEOUS Associated News 1 1 3 — Australian Glass 5 5 0 British Tobacco (Aust.) 2 9 0 G. J. Coles 4 0 0 D.I.C. (pref.) 1 3 6 Dominion Fertilizer 1 3 6 I.C.I. (pref.) 1 3 6 Milburn Lime and Cement 1 14 0 N.Z. Drug 3 5 6 Otago Daily Times 2 2 0 Permanent Building Society 5 15 0 Wilson’s (N.Z.) Cement 0 15 9 0 16 0 Woolworths Ltd. 1 1 6 — MINING n n 11 Electrolytic Zinc (ord.) 2 5 0 Goldfields Dredging 0 0 3 Mount Lyell 1 9 6 Mount Morgans 0 9 9 Mount Morgan (pref.) 1 2 0 Nokomai 0 1 6 Okarito 0 1 11 Austral (N.Z.) 1 2 6 UNLISTED Southland Ice Cream 1 2 0 Tbyrodone Ltd. — 1 5 0

AUCKLAND £ B d Bonds 1953-57 3«/iP.c. 91 0 0 Stock 1946-49 4 p.c. (2) 96 10 0 do. 1952-55 (cum int.) 98 5 0 do. 1939-43 3’zip.c. 97 5 0 Auckland Harbour Board 1958 4>,4 p.c. 101 15 0 Auckland Transport Board 4>,4 p.c. 1944-48 98 15 0 Amalgamated Brick (Auck.) 1944 6 p.c. 97 0 0 do. (Wgton.) 1944 6 p.c. 97 10 0 Bank of Australasia 9 15 0 do. 9 17 6 Commercial Bank of Australia 16 5>/a do. 16 4 National Bank of N.Z. (2) - 2 10 0 Bank of N.Z. 2 0 0 N.Z. Insurance (2) 2 11 15i South British 2 2 0 Farmers’ Co-operative Auctioneering (£5) 3 15 0 Dominion Breweries 1 11 6 do. 1 11 9 Australian Glass 5 6 0 British Tobacco (2) 2 10 6 Broken Hill Propty. / 2 18 0 do. 2 17 9 do. 2 18 0 Colonial Sugar 49 0 0 Consolidated Brick 7 0 Farmers’. Trading 18 9 Taranaki Oil 10 3 Wilson’s Cement 15 9 do. 15 10 Woolworths (Syd.) 1 1 9 do. (2) 1 1 8 do. 1 1 9 do. 4 I 1 8 Broken Hill South (ex div.) 1 9 0 Loloma 1 1 11 WELLINGTON £ s d Commercial Bank of Australia (Wed.) 16 7 N.Z. Breweries (Wed.) 1 18 0 Anthony Hordern (Wed.) 15 11 Broken Hill Propty. (Wed.) 2 18 1 Dunlop Perdriau (Wed.) 1 1 4 Farmers’ Trading (Wed.) 18 8 Woolworths (N.Z.) (cum div.) (Wed.) 18 9 Broken Hill South (Wed.) 1 9 8 Broken Hill Propty. 2 17 10 British Tobacco 2 10 0 I.C.I. (pref.) 1 4 1 G. J. Coles 4 2 4 MacDufls (ord.) 3 0 Wilson’s Cement 15 9 Zinc Corporation (pref.) 7 17 6 Mount Lyell 1 9 0 Overseas List Woolworth’s Holdings (S.A.) (Wed.) 15 7 do. 15 6 CHRISTCHURCH £ s d Commercial Bank of Australia (2) 16 6 United Buildings 1 0 3 Broken Hill Propty. 2 17 8 do. 2 17 6 Electrolytic Zinc (pref.) 2 9 0 N.Z. Farmers’ Co-op. 4 ] ,' 2 P-C. 1950 89 10 0

Woolworths (Syd., ord.) (2) 1 1 8 do. 1 1 9 Mount Lyell (cum div.) 1 9 2 United Building (2) 1 0 3 Broken Hill South (cum div.) (Wed.) 1 10 0 British Tobacco (cum div.) 2 10 3 DUNEDIN - Sales Reported £ s d Broken Hill Propty. 2 18 0 G. J. Coles 4 2 0 N.Z. Breweries 1 18 0 Dominion Fertilizer 1 3 0 Mount Lyell 1 8 9

Sales: £ s d Bank of New South Wales 30 7 6 Commercial Banking of Sydney 20 18 0 Bank of Australasia 9 5 0 Associated Newspapers 1 1 9 Tooth’s Brewery 2 13 3 Toohey’s Brewery 1 10 4>,i Australian Glass 5 3 6 British Tobacco 2 8 3 Stedman 12 6 Morts Dock 13 5 General Industries 19 0 Kandos (contr.) 12 6 Bradford Cotton (N.Z. delivery) 1 17 6 Victoria Nyanza 12 9 W. J. Adams 15 0 do. (pref.) 1 4 0 Henry Jones 2 8 6 Woolworths 1 0 10 >,4 -Morris Hedstrom 1 7 9 Electrolytic Zinc 2 4 9 do. (pref.) 2 7 9 Millaquin Sugar 1 19 1 Mount Morgan 9 6 Mount Lyell 1 8 7 Broken Hill Propty. 2 15 9 do. (N.Z. delivery) 2 15 7','2 Emperor 9 5

Sales: £ s d Commercial Bank of Australia 15 9 National Bank (£5 paid) 6 9 0 British Tobacco 2 8 0 G. J. Coles ' 3 16 6 Drug Houses 1 3 0 Australian Glass 5 4 0 Dunlop Perdriau Rubber 1 0 5 Goldsbrough Mort 1 ' 8 0 Herald and Times 2 17 6 National Reliance Investment Trust 9 6 Mount Morgan 9 7 Mount Lyell 1 8 9 Electrolytic Zinc (pref.) 2 7 9 Broken Hill Propty. 2 15’ 6 North Broken Hill 2 7 9 South Broken Hill 1 8 6 Zinc Corporation 4 15 0 Emperor 9 5 Lolorna 1 0 9

Metals were quoted as follows:— 14 d Dec. 13 Dec. £ s £ s d CopperStandard, spot 43 0 7’,4 43 0 7’,4 Forward 43 5 7’,4 43 5 7’,4 Electrolytic 48 10 0 48 10 0 to 49 10 0 49 10 0 Wire bars 49 10 0 49 10 0 LeadSpot 14 14 4’4 14 13 1*,4 Forward 14 10 4’,4 14 16 10’,4 Spelter— Spot 13 11 10’,4 13 13 9 Forward 13 16 10‘,4 13 18 l’,4 TinSpot 214 6 3 214 2 6 Forward 215 6 3 215 2 6 SilverFine, per oz • 20 3-16d 2O'/ S d Standard, per oz 21 13-16d 21 ll-16d