MONEY AND MARKETS

Southland Times, Issue 23740, 11 February 1939, Page 4

MONEY AND MARKETS

BANKING SHARES QUIET ON INVERCARGILL EXCHANGE

Strong support continued to come for Government securities on the Invercargill Stock Exchange yesterday. Banking shares remained quiet. Commercials ex dividend had buyers at 15/4, sellers asking 16/-. New Zealands were unchanged at £1 18/6. The market for Australian industrials was more active and Woolworths continued to show firmness.. The chief feature in the rhining group was the rise in Mount Morgans.

FROZEN MEAT MARKET (United Press Association) WELLINGTON, February 10. The New Zealand Meat Producers’ Board advises that the following are the approximate average prices realized for the week based on actual transactions, wholesale quantities and descriptions of meat mentioned and for representative parcels of goods offering during the week being for business done on the basis of delivery to Smithfield market and/or ex-London stores. Feb. 2 Feb. 9 d d

Lamb market.—Downs unchanged, others slightly lower. Heavy Australian stocks are tending to depress the market. Wethers and ewes.—Showing an improved demand but values are unchanged. Chilled beef market.—With heavier Dominion arrivals, prices are a shade easier. New Zealand porker pigs.—Trade is slow and prices unchanged. New Zealand baconer pigs.—Unchanged but the tendency is easier because of a weaker bacon market.

DAIRY PRODUCE MARKET BUTTER FIRM; CHEESE STEADY (Received February 10, 6.30 p.m.) LONDON, February 9. The butter market is firm and cheese is steady.

THE PRICE OF GOLD , LONDON, February 9. The price of gold is £7 an ounce.

Quotations were as follows:GOVERNMENT DEBENTURES Buyers Sellers £ s d £ s d Stock, 3J p.c., 1939-43 99 5 0 Stock, 3J p.c., 1939-52 99 5 0 Stock, 4 p.c., 1943 99 5 0 Stock, 4 p.c., 1943-46 99 5 0 Bonds, 4 p.c., 1943-46 99 5 0 Stock, 4 p.c., 1946-49 99 5 0 Bonds, 4 p.c., 1946-49 99 5 0 Stock, 4 p.c., i 1952 99 5 0 Stock, 4 p.c., 1952-55 99 5 0 Bonds, 4 p.c,, 1952-55 99 5 0 Stock, 3 p.c., 1941 97 10 0 BANKS Commercial 0 15 4 0 16 0 National of N.Z. 2 9 0 New South Wales 31 0 0 New Zealand 1 18 6 1 19 3 Union of Australia 8 4 0 8 7 6 BREWERIES Dominion Brewery 1 11 6 • Dunedin Brewery Co, 1 6 0 N.Z. Breweries 2 0 6 COAL Kaitangata 1 6 0 Westport Coal 1 0 3 1 1 0 Westport Stockton (ord.) — 0 4 0 INSURANCE National 0 15 11 — fcoutn xsnusn * Standard 2 11 LOAN AND AGENCY Mort1 1 o gage B Trustees’ Executors (Dunedin) 4 0 0 Wright, Stephenson (ord.) (pref.) 1 1 0 19 6 meat COMPANIE, 5 Southland Frozen Meat 110 0 SHIPPING Union Steam Ship Co. (pref.) 1 6 0 WOOLLEN MILLS Bruce 7 6 ft — Kaiapoi (ora.) u n n Oamaru 011 Bonds Hosiery 0 19 0 MISCELLANEOUS Australian Glass 5 8 0 5 8 0 Australian Iron and Steel 1 7 6 Broken Hill Pty. 2 18 3 British Tobacco (Aust.) 2 8 6 G. J. Coles 3 17 6 DJ.C. (pref.) 1 3 0 Dominion Fertilizer —— 1 2 6 Donaghy’s Rope and Twine 2 2 0 2 4 0 Dunlop Rubber (Aust.) 1 0 9 1 1 6 1CJ. (pref.) 1 3 6 N.Z. Drug 3 5 6 N.Z. Guarantee Corporation 0 4 6 New Zealand Paper Mills 1 2 6 Otago Daily Times 2 0 0 2 2 0 Permanent Building Society 5 15 0 Woolworths Ltd. 1 3 4 MINING Big River ' 0 0 11 Electrolytic Zinc '(ord.) 2 6 q Gillespie’s Beach 0 0 11 Goldfields Dredging — 0 0 d Mount Lyell 1 6 9 Mount Morgans 0 11 6 Nokomai 0 1 9 Austral N.Z. 1 2 9 — AUCKLAND £ s d Bonds 1943-46 4 p.c. 100 0 0 Stock 1952-55 4 p.c. 99 10 0 Auckland Transport Board 1944-43 4’1 p.c. (Thurs.) 100 0 0 Commercial Bank of Australia (ex div.) 7 19 0 National Insurance 15 10 N.Z. Insurance 2 13 3 Pukemiro Collieries 16 6 Westport-Stocxton (pref.) 7 2 Dominion Breweries (Thurs.) 111 9 British Tobacco (pref.) 1 12 9 Broken Hill Propty. 2 17 9 do. (con.) 2 4 6 Consolidated Brick 9 0 I.C.I. (pref.) 1 3 7 Milne and Choyce (6p.e. pref.) 1 1 6 N.Z. Drug \ 3 5 0 Reid (N.Z.) Rubber 1 3 0 Wilson’s Cement 15 10 ■Woolworths (Syd.) 1 4 3 Woolworths (N.Z.) 18 0 Grey River 17 7 Waihi Investments (Thurs.) 8 0 Mount Morgan (ord.) 11 10 do. 11 11 WELLINGTON £ 6 d Bank of N.Z. (Thurs.) 1 18 9 4 p.c. Stock 1949-52 99 17 6 5 p.c. Rural Bonds 1947 99 0 0 Bank of N.Z. 1 18 9 Commercial Bank of Australia 15 9 Consolidated Brick 9 1 G. J. Coles 3 19 3 McKenzies Departmental Stores 2 6 0 Broken Hill (contr.) 2 4 7 Woolworths Ltd. (2) 1 4 0 Wilson’s Cement (2) 15 10 Mount Morgan (2) 11 10 CHRISTCHURCH £ 6 d N.Z. Breweries (5) 2 0 0 Australian Glass 5 14 0 MacDuffs (ord.) 2 9 Woolworths (Syd., ord.) (2) 1 4 4 Grey River 17 6 Sales Reported Union Bank of Australia (2) 8 14 0 Kaiapoi Woollens (17/- paid) 12 2 Wellington Woollens 4 17 6 N.Z. Breweries 2 0 0 General Industries (2) 19 3 Milburn Lime 1 14 0 Woolworths (Syd., ord.) (2) 1 4 4 Woolworths (N.Z.) (3) 18 0 McLeod Bros. 1 7 0 Mount Morgan 12 0 DUNEDIN Sales Reported £ B d 4 p.c. Bonds 1952-55 (Wed.) 99 12 6 Rural Bonds 99 s 0 0 Commercial Bank (ex div.) 15 7

Kaiapoi Woollens (ord.) 12 3 N.Z. Drug (2) 3 5 0 United Provisions 7 6 N.Z. Breweries 2 0 0 Mount Morgan 11 8 SYDNEY (Received February 10, 9.30 p.m.) SYDNEY, February 10. Conditions on the Stock Exchange today were generally steady, with only a moderate turnover, and price variations ivere small. Sales: £ s d Bank of New South Wales 29 16 0 Commercial Banking of Sydney 19 19 0 National .Bank (£5 paid)' 6 7 0 Bank of Australasia 9 0 0 Colonial Sugar 46 17 6 Associated Newspapers 1 0 4 Adelaide Steam 1 12 0 Howard Smith 19 4 Drug Houses , 1 2 3 Australian Glass 5 8 6 Dunlop Perdrlau Rubber (pref.) 1 18 6 David Jones 1 14 3 Stedmans 12 3 Kandos 1 7 7 Morts Dock (N.Z. delivery) 14 10 J. Fielding 8 2 W. Adams 15 6 Commonwealth Wool 14 0 Standard Cement 1 2 10 Edwards Dunlop 2 10 0 Woolworths 1 *3 0 Taubmann 2 12 6 Peters 2 16 0 Mauri Brothers 1 3 7 0 United Provisions 7 3 Goldsbrough Mort 1 6 3 Millaquin Sugar 1 19 0 Mount Morgan 11 6 do. (pref.) 1 2 0 Broken Hill Propty. 2 15 3 do. (contr.) 2 3 6 do. (N.Z. delivery) 2 3 6 Loloma 1 1 5 MELBOURNE Sales: £ s d Commercial Bank 15 3 do. (pref.) 7 4 0 British Tobacco 2 7 9 Herald and Times 3 0 0 Drug Houses 1 2 3 Dunlop Perdrlau Rubber 1 1 0 Woolworths 1 3 3 Mount Lyell 1 6 0 Mount Morgan 11 9 Taranaki Oil 7 6 Broken HUI Propty. 2 15 % do. (paid) 2 3 3*

N.Z. sheep— Crossbred wethers and/ or maiden ewes: Under 481b 434 414 49-561b 3% 334 57-641b 374 374 65-721b 3% 314 Ewes: i Under 481b ' -2% 27b 49-561b 214 27e 57-641b 214 27a 65-721b 2% 2% N.Z. Lambs— North Island Downs: 361b and under 714 714 37-421b 714 734 43-501b 714 714 Second quality: 7% *7% Average about 301b North Island, first quality; 361b and under 714 714 37-421b 734 714 Second quality: Average about 311b 714 7 Australian Lambs— Victorian first quality: 29-361b 6% 634 37-421b <• 614 614 Argentine Lambs— First quality: 361b and under 614 65s 37-421b 6 57b N.Z. Frozen BeefSecond Quality: Ox hinds (145-2101b) 4 4 Ox fores (145-2101b) 3 3 Australian Frozen BeefSecond quality: ■Ox hinds (145-2101b) 414 4/8 Ox crops (145-2101b) 3 3 N.Z. Porker Pigs— First quality: 714 61-801b 714 81-1001b 614 6% 101-1201b 614 672 N.Z. Baconer Pigs— 121-1601b 614 634 (Chilled beef prices are approximate average prices realized for the week.) N.Z. Chilled BeefOx hinds (145-2101b) 514 514 Ox fores (145-2101b) 314 314 Australian Chilled BeefOx hinds (145-2101b) 514 514 Ox crops (145-2101b) 3% 314 Union of South Africa— Ox hinds (145-2101b) •— —• Ox crops (145-2101b) — Southern Rhodesian Chilled BeefOx hinds (14S-2101b) 414 414 Ox fores (145-2101b) 314 314 Argentine Chilled BeefOx hinds (145-2101b) 6/8 614 Ox fores (145-2101b) 4 X A 434 Brazilian Chilled BeefOx hinds (145-2101b) 514 Uruguayan Chilled BeefOx hinds (145-2101b) 574 574 Ox fores (145-2101b) 334 334

Quotations:— BUTTER Feb. 2 Feb. 9 DanishSalted ■ ■ ■ Unsalted ——• New Zealand — Choicest salted 122/Unsalted 126/125/- to 126/Australian — Choicest salted 119/- to 119/Unsalted 122/CHEESE 121/New Zealand — White 66/Coloured 67/66/6 AustralianWhite 62/-to 63/-62/-to 63/Coloured 65/-64/-to 65/-