LITTLE BUSINESS TRANSACTED

Southland Times, Issue 23716, 14 January 1939, Page 3

LITTLE BUSINESS TRANSACTED

REOPENING OF STOCK EXCHANGES PRICES OF SHARES REMAIN STEADY The stock exchanges reopened on Tuesday after the Christmas and New Year holidays. Very little business has been/transacted during the week, but the market all round is steady and quite up to that ruling before the holidays. ’ Government securities were quiet with few inquiries from buyers. Four per cent, bonds and stock with currency to 1943-46 were offered at £9B 10/-. The line maturing in 194952 had a sale reported at £97; buyers later were offering the same price for further supplies. There was no activity in the banking section. New Zealands were transferred at 40/-, more being procurable at 40/3. Commercials had a sale at 16/3, sellers for more offering to take 16/4. This bank’s interim dividend has just been announced. The rate is unchanged at 4 per cent, per annum oh preference shares and 6 2-3 per cent, on ordinary shares. Last year the Commercial Bank paid an interim dividend of 4d and a final of 4|d a share, making a total distribution of B|d a share, equal to 7 1-12 per cent. The previous year the dividend was 8d a share. Some trading was done in E. S. and A. Banks at £5 9/- and £5 9/3. This is slightly below the price they sold at before the holidays. Nationals of New Zealand, ex dividend since January 4, were placed at 48/6. Union Banks brought £8 12/6 and later £8 13/-. The Union Bank’s final dividend has just been announced. The rate, 4/- a share, makes a total payment of 7 per cent, for the year. South British were the most active stock in the insurance group, a fewsales of this line being reported at the unchanged price of 42/-. Nationals showed no change in selling at 15/6. New Zealands were placed at 51/- and 51/2. The directors of the New Zealand Insurance Company have declared an interim dividend of 1/- a share, the amount being unchanged. Little interest has so far been shown in frozen meat companies’ shares, the only business reported being a sale of Gear Meats at 12/-.

Woo Hen companies’ shares are very quiet. A parcel of Wellington Woollens, ex dividend, was reported sold at 90/-; A sale of National Mortgage and Agency Company’s shares was reported at 40/- and this comprised all the business done in this section. MINING SECTION The mining section was not an active one. Sales of Broken Hill Souths were made at 28/- and 28/6. North Broken Hills were offered at 51/-. Electrolytic Zinc preference have made gains since the holidays, the latest sales being at 51/6. The directors of the Electrolytic Zinc Company have announced an interim dividend. The rate, 6 per cent., is the same as in the previous year. Mount Morgans have firmed in price, the market advancing from 10/- to 10/4 and later going to 10/7. Martha Gold Mining are quiet but a little firmer at 11/6. A sale of Waihi Grand Junctions was made at 3/3. There has been a quiet period for oil companies’ shares. Taranakis are easier with a sale at 9/6. Although business in the general section was quiet, prices remain very steady. Australian Glass shares ontinue to advance, buyers for this company’s scrip yesterday offering £ 5 12/-. Woolworths Ltd. were traded in at 22/-, showing a firm tone. Imperial Chemical Industries Ltd. remain steady at 24/-. This company is paying its first halfyearly dividend of 5 per cent, per annum on January 31. G. J. Coles Ltd. are quite up to the price they sold at before the holidays, with sales at 82/and 82/3. Dunlop Rubbers are a shade stronger at 21/6 and 21/7. British Tobaccos moved up to 50/6 and 51/—. Colonial Sugars, while not active, are steady at £4B 10/-. Some business was done in Morts Dock Ltd., an Australian company registered in New South Wales. The business conducted by this company is chiefly the docking of ships, but there is .also an engineering department. The shares are £1 fully paid. The company’s year endson June 30. For the year 1937 a dividend of 4 per cent, . was paid; last year the profits increased and the directors paid 5 per cent, plus lg per cent, bonus. Sales of this company’s shares were made during the week at 15/5 to 15/10. There was only a small turnover in New Zealand industrial companies’ shares. Auckland Gas brought 19/3. Wilson’s Cements sold at 15/9 and 15/10 and were the most active stock in this group. The Westport Stockton Coal Company’s shares, ordinary issue, were transferred at 3/10, and the preference issue at 7/-. Woolworths (New Zealand) had sales at 19/-. The inquiry for brewery share's was confined to Dominions for which 30/was offered. New Zealands were firmer with buyers at'3B/3. DIVIDENDS DUE Woolworth's Properties Ltd., Interim, half-yearly, 6p.c. January 16 G. J. Coles, half-yearly, A preference, at Bp.c. per annum January 16 Imperial Chemical Industries (pref.), first, half-yearly, at sp.c. per annum January 31 N.Z. Insurance Co., interim, 1/a share February 8 Commercial Bank of Australia, 4p.c. per annum on pref.; 6 2-3 p.c. per annum on ord. February 10 Union Bank, final, 4/- a share THE WOOL MARKET BRADFORD QUIETLY FIRM (Received January 13, 6.30 p.m.) LONDON, January 12. The tone of the Bradford tops market is quietly firm. Following are today’s quotations and those of recent weeks:— Quotations: — Dec. 22 Dec. 29 Jan. 5 Jan. 12 Merinos —

d d d d 70’s 26>/ 2 26>/ 2 26 26 64’s 25 25 25 25 60's 24 24 24 24 Crossbreds— 58's 21 21 21 21 56’s 19 19 19 19 50’s ■ 17 17 17 17 46's *16 *16 *16 *16 44’s *16 *16 ♦Hominal. *16 *16