COMMERCIAL

Southland Times, Issue 24161, 25 June 1940, Page 2

COMMERCIAL

BETTER TONE IN SHARES

INVERCARGILL STOCK EXCHANGE ACTIVITY IN STATE ISSUES Government issues were the most active line on the Invercargill Stock Exchange yesterday morning. Prices were very steady, with a slight hardening tendency in some issues. Bank of New Zealand shares improved, with buyers at £l/19/-. Little change took place in insurance shares, buyers for South British being at £2/3/-, and for New Zealand £2/15/- was offered. There was a better tone for brewery companies’ shares, New Zealands being at £l/11/- and Dominions at £l/9/6. Quotations were:—

DUNEDIN Sales on ’Change.—4 p.c. Stock 1940-43 £101; National Insurance 17/9. WELLINGTON Sales (late Friday).—3*,4 p.c. Stock 1957 £lOO/10/-; 3% p.c. Stock 1941 £100; 4 p.c. Stock 1943 £101; 4 p.c. Stock 1946 £lO2/15/-. Sales (yesterday).—4 p.c- Stock 1943 £101; 4 p.c. Stock 1946 £103; 4 p.c. Stock 1949 £lO2/17/6. AUCKLAND Sales.—Stock 1953-57 3>,i p.c. £lOO/10/(late sale); do. 1938-41 3% p.c. £100; Franklin Power Board 1958 41'4 p.c. £105; Mount Eden Borough 1942-44 4*/4 pc. £lOl (2); do. 1955-60 4‘/ 4 p.c. £104; Bank of New South Wales £25; Bank of New Zealand £2/0/3 (late sale), £l/19/3; Union Bank £6/10/-; New Zealand Insurance £2/16/-; South British £2/5/-, £2/4/9; Auckland Gas 8/6; M.K. Manufacturers 5/10 (odd lot). SYDNEY (Received June 24, 9.30 p.m.) SYDNEY, June 24. Trading on the Stock Exchange was restricted again today and most sales of industrial shares were below late rates. Sales:—Commercial Bank of Australia' 12/4; Colonial Sugar £46/5/-; Associated News (11/- pref.) 14/4; Toohey’s £l/3/-; Consolidated Industries £l/11/4'/a; Kandos £l/4/9; Adams 10/6; Goldsbrough £l/2/-: Electrolytic Zinc £2/1/-; Mount Lyell £1 1/10; Broken Hill Proprietary £l/19/6; Oil Search 2/8.

MELBOURNE Sales Electrolytic Zinc (pref.) £2/3/3; Loloma £l/2/-; Emperor 10/3; South Broken Hill £l/0/9; North Broken Hill £1 10/9. BIG LONDON PRICES FOR APPLES (Received June 24, 6.30 p.m.) LONDON, June 23. A few cases of New Zealand and Tasmanian apples reached spectacular prices. Prices generally are above 19/-. This is considerably above those ruling in the previous few weeks, when, according to New Zealand circles, cargoes were disposed of at a loss. Traders say that there is no quantity at present available which will benefit by the new high prices, which, in addition, are slowing the. demand. The butter position in the United Kingdom is little changed, but the public is not absorbing the ration of 4oz allowed a head. The Rubber Trade Association had several emergency meetings, and decided that for the present the market should remain open. The question of fixing maximum and minimum prices is under discussion, but nothing has been decided.

MINING GILLESPIE’S BEACH (United Press Association) DUNEDIN, June 24. The Gillespie’s Beach dredge return for the week ended June 22 totalled 38oz Bdwt for 127 hours and 16,145 yards. OKARITO BEACH (United Press Association) DUNEDIN, June 24. The Okarito Five Mile Beach Gold Dredging Company reports a wash-up of 3oz 15dwt in 60 hours.

GOVERNMENT DEBENTURES Buyer Seller £ * d £ s d Stock, 4 p.c., 1940-43 100 15 0 Stock, 4 p.c., 1943-46 102 5 0 Stock, 4 p.c., 1946-49 102 10 0 ——’ Bonds, 4 p.c., 1946-49 102 10 0 Stock, 4 p.c., 1949-52 102 10 0 Stock, 4 p.c., 1952-55 102 10 0 Bonds, 4 p.c., 1952-55 102 5 0 Stock, 3'/a p.c. 1953-57 100 0 0 • Stock, 4 p.c., 1954-58 102 15 0 — BANKS New Zealand 1 19 0 — New Zealand Long *'D” issue 1 6 6 1 7 6 BREWERIES Dominion Brewery 1 9 6 — N.Z. Breweries 1 11 0 — COAL Kaitangata 1 6 0 1 10 0 Westport Coal 1 0 0 INSURANCE National ■■ —— 0 17 11 New Zealand 2 15 0 — South British 2 3 0 Standard —- 2 19 6 LOAN AND AGENCY National Mortgage 2 0 0 Trustees’ Executors (Dunedin) 4 1 0 Perpetual Trustees 2 9 0 — MEAT COMPANIES N.Z. Refrigerating (20/- paid) > 1 0 0 (10/- paid) 0 8 6 South Otago Freezq WOOLLEN MILLS Bruce 0 17 6 — Kaiapoi (pref.) 0 17 0 — Mosgiel 10 10 0 — MISCELLANEOUS D.I.C. (ord.) 0 12 6 Dominion Fertilizer 1 6 0 Dominion Rubber Co McDuffs Ltd. 0 6 6 McDuffs (pref.) 0 14 6 Milburn Lime and Cement —.....— 2 1 0 New Zealand Drug —•—■ 3 18 0 N.Z. Guarantee Corporation 0 4 0 N.Z. Paper Mills — 1 9 0 Otago Daily Times 2 1 0 MINING Big River —— 0 1 0 Gillespie’s Beach 0 0 5 . Nokomai 0 1 9 Okarito 0 1 0 Waitahu 0 1 0