MONEY AND MARKETS

Southland Times, Issue 23767, 15 March 1939, Page 3

MONEY AND MARKETS

FIRMER TONE FOR INDUSTRIALS ON INVERCARGILL EXCHANGE

The inquiry for Government loans was less pronounced on the Invercargill Stock Exchange yesterday. Two lines only of banking shares were asked for, New Zealands having buyers at £1 18/3 and Unions at £B. Commonwealth industrials shewed a firmer tone, Broken Hill Proprietaries being within a 1/- of £3, Tobaccos steady at £2 10/9 and G. J. Coles unchanged at £3 18/6. The metal market continues to show steadiness. Sales of National Bank of Australia at £6 15/- and British Tobaccos at £4 11/3 were reported.

Quotations were called as follows: — GOVERNMENT DEBENTURES

SYDNEY (Received March 14, 9.20 p.m.) SYDNEY, March 14. Industrial shares on the Stock Exchange are fairly firm. Base metals eased slightly today and there was some decline among stocks that showed recent advances.

COMPANY NEWS T. J. RICHARDS AND SONS (United Press Association) WELLINGTON, March 14. The directors of T. J. Richards and Sons have declared a dividend at the rate of 10 per cent, per annum for the half-year ended December 31 on preference, ordinary and B ordinary shares. WOOLWORTHS (N.Z.) LTD. (United Press Association) WELLINGTON, March 14. At a meeting of the board of directors of Woolworths (N.Z.) Ltd. on March 7 it was resolved that a dividend for the half-year ended March 31, 1939, be declared on the nine per cent, preference share capital of the company based on shareholdings as at March 31, 1939, and be paid on April 15, 1939, and that the preference share transfer books of the company be closed from April 1 to April 15 inclusive. BRICKS AND MORTAR LTD. (United Press Association) WELLINGTON, March 14. The transfer books and register of members of Bricks and Mortar Ltd. will be closed from 9 a.m. on March 29 to 5 p.m. on March 31, 1939, inclusive. An interim quarterly dividend of 2 per cent, will be paid on March 31, 1939, at the rate of 8 per cent, per annum. BREEDERS’ EWE FAIR AT TINWALD (United Press Association) ASHBURTON, March 14. Though prices generally at the breeders’ ewe fair at Tinwald yesterday were comparable with those at recent North Canterbury sales, 113 soundmouth half-breds sold at 25/- for the line, less than 3d each, and 270 of the same class brought 1/6. WRONG IMPRESSION OF MARKET The opinion that the telegraph report of the Tinwald ewe fair gave a misleading impression was expressed yesterday by an Invercargill stock agent. He said that the ewes sold at 3d each were known as “potters.” They were very thin, inferior halfbreds from drought-stricken country and were of no value for breeding purposes. The report would indicate that the bottom had fallen out of the market, but such was not the case. While prices in Southland were higher than those obtained in Canterbury, it should be remembered that the class of sheep was quite different. The ewes coming to Southland sales were good quality Romney cross sheep. The agent said he had been in touch with Ashburton and had been advised that a line of two-tooth Romney-Merino cross ewes sold at 32/6. The two-tooths were of poor quality with the exception of a few lines, the average price for which was 21/- a head. Medium and three-quarter-bred two-tooths sold up to 27/6; lighter and poorer-bred sorts from 15/- to 22/6. Average soundmouth ewes sold from 12/- to 14/- and up to 17/6 for good halfbreds. A line of five-year-old Corriedale ewes brought 15/6. . MINING MATAKI - JUNCTION MURCHISON, March 14. The Mataki Junction return for the week ended March 9 was 41oz of smelted gold for the 123 hours worked and the 17,000 yards dredged. THE PRICeToF GOLD LONDON, March 13. The price of gold is £7 8/2£- an ounce. THE METAL MARKET (Received March 14, 6.30 p.m.) LONDON, March 13. Metal quotations are as follows:—

Buyers £ s I S £ ellers s d Stock, 3J p.c., 1939-43 99 10 0 Stock, 4 p.c., 1943-46 98 15 0 Bonds, 4 p.c., 1943-46 98 15 0 Stock, 4 p.c., 1946-49 99 0 0 Bonds, 4 p.c., 1946-49 99 0 0 Stock, 4 p.c., 1952 99 15 0 BANKS Commercial 0 16 9 New South Wales 30 10 0 New Zealand 1 18 3 1 19 0 Union of Australia 8 0 0 — BREWERIES Dunedin Brewery Co. 1 b 0 N.Z. Breweries 1 18 0 1 18 6 COAL Westport Coal 1 0 0 — Westport Stockton (pref.) 0 7 3 — INSURANCE National 0 15 9 — LOAN AND AGENCY Goldsbrough, Mort and Co. 1 9 9 Trustees’ Executors (Dunedin) 4 0 0 — MEAT COMPANIES N.Z. Refrigerating (20/- paid) 0 16 9 (10/- paid) 0 6 9 0 7 0 SHIPPING P. and 0. Stock 1 6 0 — WOOLLEN MILLS Bruce 0 11 0 0 12 6 Mosgiel 9 10 0 Bonds Hosiery 1 1 9 MISCELLANEOUS Broken Hill Pty. 2 19 0 — British Tobacco (Aust.) 2 10 9 — G. J. Coles 3 18 6 3 19 9 D.I.C. (pref.) 1 2 6 Dominion Fertilizer 1 2 9 ■ — I.C.I. (pref.) 1 3 6 1 4 0 Milburn Lime and Cement 1 14 0 — N.Z. Drug 3 5 0 3 7 6 N.Z. Guarantee Corporation 0 4 6 Otago Daily Times 2 1 0 Permanent Building Society 5 15 0 Woolworths, Ltd. 1 2 9 —— MINING Electrolytic Zinc (ord.) 2 7 0 (pref.) 2 11 0 — Gillespie’s Beach 0 0 11 Goldfields Dredging 0 0 2i Mount Lyell 1 7 6 1 8 3 Mount Morgans 0 11 0 0 11 9 Mount Morgan Nolcomai 0 1 7 1 0 2 1 0 9 Austral (N.Z.) — 1 3 9 AUCKLAND £ 6 d Stock 1953-57 3>/ 2 p.c. 91 10 0 do. 1946-49 4 p.c. 99 5 0 do. 1939-43 3‘/2p.c. 99 12 6 do. 1939-43 31/2 p.c. 99 12 6 Auckland Harbour Board 196C 4>/ 4 p.c. (Mon.) 100 10 0 Commercial Bank of Australia 16 5 E.S. and A. Bank 5 4 3 Bank of New South Wales 30 0 0 do. 30 2 6 Bank of N.Z. (2) 1 18 9 South British (2) 2 3 6 Kaiapoi Wool (paid) 11 0 Dominion Breweries 1 10 0 Tooth’s Brewery 2 16 6 British Tobacco 2 10 6 Broken Hill Propty. 2 19 3 do. 2 19 6 Colonial Sugar (Mon.) 48 18 9 Dunlop Perdriau 1 1 11 Wilson’s Cement 15 7>/2 Woolworths (Syd.) (Mon.) 1 3 0 Mount Morgan (ord.) 11 6 Overseas List Woolworth’s Holdings (S.A.) 14 10 WELLINGTON £ 6 d 3 p.c. Stock 1941 96 5 0 3’,i p.c. Stock 1953-57 91 10 0 Bank of New South Wales 30 0 0 Bank of N.Z. (2) 1 18 9 Tooth and Co. 2 16 3 Dominion Breweries 1 10 0 Broken Hill 2 19 6 Wilson’s Cement (2) 15 6 Woolworths Ltd. (ord.) 1 3 1 31/2 p.c. Stock 1939-43 99 12 6 Bank of New South Wales (2 30 0 0 Bank of N.Z. (2) 1 18 9 do. 2 11 0 Burns Philp 2 14 9 Broken Hill 2 19 6 Dunlop Perdriau 1 1 11 D.I.C. (pref.) 1 2 3 G. J. Coles 3 19 7>/ 2 Woolworths Ltd. (ord.) 1 3 1 do. 1 3 3 do. 1 3 11 Waihi Investments 8 0 Mount Morgan 11 3 Overseas List Woolworth’s Holdings (S.A.) 14 10i/ 2 CHRISTCHURCI I £ R d McKenzies Ltd. 2 0 6 Woolworths (Syd., ord., cum div.) 1 3 1 Woolworths (South Africa) (2) 15 0 Broken Hill South (cum div.) 1 9 3 Grey River 18 3 Sales Reported Westport-Stockton Coal (pref.) 7 6 Woolworths (Syd., ord., cum div. i 1 3 1 Westport-Stockton Coal (ord.) 3 9 DUNEDIN £ s d Woolworths (Syd.) 1 3 0 Sales Reported Bank of N.Z. 1 18 10 I.C.I. (pref.) 1 3 8 do. 1 3 9 G. J. Coles 3 19 6 Woolworths (Syd.) (3) 1 3 0 After Call Bank of N.Z. 1 18 9

Sales: £ s d Bank of New South Wales 29 6 0

Commercial Bank of Sydney 20 8 0 United Insurance 10 2 0 Associated Newspapers 19 9 Burns Philp 2 11 6 British Tobacco 2 9 0 Tooth’s Brewery 2 13 9 G. J. Coles 3 16 3 Woolworths 1 2 1*2 Drug Houses of Australia 1 2 6 Dunlop Perdriau Rubber 1 0 11 Farmers 1 8 9 David Jones 1 14 6 Lustre Hosiery 1 0 0 General Industries 18 6 Morts Dock 14 3 Felt and Textiles 1 11 9 Sargents 1 9 6 W. R. Carpenter 2 3 0 Standard Cement 1 1 9 Victoria Nyanza 11 0 Wilcox Mofflin 5 11 Henry Jones 2 9 6 Colonial Sugar 46 10 0 Electrolytic Zinc 2 7 3 Mount Morgan 10 9 Mount Lyell 1 7 1/2 Broken Hill Propty. 2 17 6 North Broken Hill 2 6 9 Rawang Tin 7 2 Arahura Gold 1 8 6 Emperor 8 6 Kanieri 1 15 0 MELBOURNE Sales: £ s d Dunlop Perdriau 1 1 0 National Bank (£5 paid.) 6 10 6 Mount Lyell 1 7 3 Broken Hill South 1 8 0 Woolworths 1 2 0 Hume Pipe (pref.) 1 6 0 Argus (pref.) 11 6

Mar. 10 A ton. Mar. 13 A ton. £ s d £ 6 d Copper— Standard, spot 43 7 6 43 4 41,'z Forward 43 13 9 43 9 4*2 Electrolytic 48 10 0 48 0 0 to 49 5 0 49 0 0 Wire bars 49 5 0 49 0 0 Lead— Spot 14 18 l‘,i 14 16 10>/ 2 Forward 14 3 l'/ 2 15 1 10>/ 2 Spelter— Spot 13 18 IV2 13 18 1 /2 Forward 14 3 1/2 14 3 1/2 Tin— Spot 216 7 6 215 17 6 Forward 215 12 6 215 5 0 Silver— Fine, per oz 20’1 d 20 9-16d Standard, per oz —- 22‘1 d 22 3-16d