COMMERCIAL

Southland Times, Issue 24113, 30 April 1940, Page 3

COMMERCIAL

FIRM TONE FOR STATE LOANS Limited Inquiry For Bank Shares YESTERDAY’S CALL-OVER IN INVERCARGILL Government stocks continued to maintain their steady tone on the Invercargill Stock Exchange yesterday. The inquiry for banks was very limited. Meat preserving shares were up a little in price. Woollens continued to attract buyers and the industrial section was very steady. Quotations were as follows:— GOVERNMENT DEBENTURES

SALES ELSEWHERE CHRISTCHURCH Sales on Change.—Kaiapoi Woollens (7/paid) 5/4. Sales Reported.—Kaiapoi Woollens (17/paid) 15/2; Whitcombe and Tombs £3/2/6; Addison’s Flat 1/3. WELLINGTON Sales on Change: (late Friday).—N.Z. Refrigerating (contr.) 10/1; Taupiri Coal £1 2/-. Sales Yesterday.—National Insurance 19/9; South British Insurance £2/10/3; Gear Meat 15/3; Dominion Breweries £l/14/6; Worksop Extended s lid. AUCKLAND Sales on Change. —Stock 1953-57 3*,2 p.c. (2) £lOO/10/- do. 1949-52 4 p.c. £lO5 17/6; Auckland Harbour Board 1957 4>,4 p.c. (2) £107; N.Z. Insurance £3/5/3; do. (3) £3/5/6; South British £2/10/3; Taupiri (ord.) £l/2/-; Rotoiti 4/-. MINING CLUTHA RIVER DREDGE (United Press Association) DUNEDIN, April 29. For the week ended April 26, the Clutha River dredge at Alexandra worked 117 hours for 350 z of gold. OKARITA RETURN (United Press Association) DUNEDIN, April 29. The Okariti return was 18oz 2dwt for 125 hours’ dredging. COMPANY NEWS E.S. AND A. BANK (United Press Association) WELLINGTON, April 29. Cabled advice has been received that the English, Scottish and Australian Bank has declared an interim dividend of 3J per cent., less United Kingdom income tax, payable on May 31. BROKEN HILL SOUTH LTD. (United Press Association) WELLINGTON, April 29. Broken Hill South Limited has declared a dividend of 6d a share, payable in Melbourne on June 15. UNION OIL SOAP CO. (United Press Association) WELLINGTON, April 29. The Union Oil 'Soap Company, Auckland, is paying an interim dividend of 6d a share on May 10. MEAT FOR BRITAIN GRADING STANDARDS Following the sale of New Zealand meat to the United Kingdom, the duty of supervising the grading of the different glasses of meat at the various freezing works is receiving the closest attention of the officers of the New

Zealand Meat Producers’ Board (says a statement issued by the board). In the negotations with the United Kingdom, it was specially arranged that a separate price should be paid for prime down cross lambs, and a special price was also fixed for prime Canterbury lamb. The general condition of purchase in respect of grading laid down by the contract with the British Ministry of Food is that the meat is to be of the usual descriptions and grades as at present shipped from New Zealand. This, however, has to be qualified as regards the North Island to the extent that the Down Cross lambs will be graded separately from the ordinary crossbred type lambs at all works. An undertaking has been given to the British Government that all carcasses graded “Down Cross” will be of “Down” type. This should be kept in mind by farmers when considering the grading returns they receive from the works, as only lambs which show characteristics of the Down can be included in this Down Cross grade. As applying to the South Island, it would not be to the advantage of - farmers if the Down Cross lambs were specially picked out, as the remaining lambs would have to take a lesser price than the present price offered for prime Canterbury. Therefore the prices and grading as arranged for the South Island are to the advantage of the farmer. In support of this, it may be pointed out that there is only a difference in value between the prime Down Cross lambs and prime Canterbury of l-16d per lb., whereas the price of crossbred lambs in the North Island shows a difference of 3-16 d when compared with the prime Down Cross price. In order to conserve space in the freezing stores and in the vessels which are provided for the carriage of meat, the British Government requested that all carcasses of mutton and lamb should be telescoped, as was done during the last war. To ensure that all freezing works are cutting and packing the carcasses to a uniform standard, the New Zealand Meat Producers’ Board, as a result of a discussion with the primary industries controller, arranged for one of its officers specially to visit the various works in the Dominion to examine the way in which the cutting of carcasses was being done. The Meat Board’s supervising grader has now finished his work, having carried out demonstrations at the works, with those concerned. This should result in a uniform pack being shipped from the various freezing works.

Buyer £ s d Selle r d £ s Stock, 4 p.c., 1943-4G 102 0 0 — Bonds, 4 p.c., 1943-46 102 0 0 — Stock, 4 p.c., 1946-49 103 10 0 Bonds, 4 p.c., 1946-49 103 10 0 — Stock, 4 p.c., 1949-52 105 15 0 Stock, 4 p.c., 1952-55 104 0 0 — Bonds, 4 p.c., 1952-55 104 0 0 — Stock, 3'/ 2 p.c., 1953-57 99 10 0 — Stock, 4 p.c., 1954-58 106 10 0 — LOCAL BODY DEBTS BANKS National of New Zealand 2 6 6 New Zealand 2 3 6 2 4 0 New Zealand Long "D” issue 1 8 BREWERIES Dominion Brewery 1 14 6 — N.Z. Breweries 1 18 9 COAL Westport Coal 1 4 Westport Stockton (ord.) 0 2 INSURANCE National 0 I 9 New Zealand 3 4 9 — South British 2 10 0 — Standard 3 2 LOAN AND AGENCY Trustees Executors (Dunedin) 4 1 Wright. Stephenson (ord.) 0 19 3 — (pref.) 0 18 Perpetual Trustees 2 9 MEAT COMPANIES N.Z. Refrigerating (20/- paid) 1 1 0 — (10/- paid) 0 9 9 0 10 1 Southland Frozen Meat 1 14 0 1 17 6 SHIPPING Union Steam Ship Co. (pref.) 1 6 9 —— WOOLLEN MILLS Bruce 0 17 0 Kaiapoi (ord.) 0 14 11 Mosgiel 11 0 Timaru 0 9 MISCELLANEOUS D.I.C. (ord.) 0 12 6 — Dominion Fertilizer 1 7 0 1 8 0 Dominion Rubber Co. —- 1 3 6 McDuffs Ltd. 0 7 0 0 8 0 McKenzie’s Department Stores Ltd. 2 6 0 Milburn Lime and Cement 2 6 0 New Zealand Drug 4 2 0 — N.Z. Farmers’ Fertilizers (pref.) 1 2 3 N.Z Paper Mills 1 11 0 Permanent Building Society 5 15 0 MINING Big River 0 1 0 Gillespie’s Beach 0 0 6 Nokomai 0 2 0 Grey River ■ 18 0 UNLISTED Associated Motorists' Petrol (pref.) 1 6 9 —