COMMERCIAL

Southland Times, Issue 24331, 11 January 1941, Page 3

COMMERCIAL

STOCK EXCHANGE QUOTATIONS

INQUIRY FOR BANK OF NEW ZEALANDS Bank of New Zealands were the only banking line sought after on the Invercargill Stock Exchange ning, buyers being steady at There was a little more activity in the general section, but sellers were moie plentiful than buyers. Quotations were as follows:— Government Debentures.-! p.c. Stock 1940-43, b '£101; 4 pc. Stock I 9 ’’ 3 / 6 ' £lO3, s £lO3/10/-; 4 p.c. Stock 19 / 9 " 92 ’ s £lO5/5/-; 3>/z p-c. Stock 1953-u7, b -.101, War Loan, b £BO/10/-. - ns- Nn Banks.—E. S. and A. Bank, s £s > ”a tional of New Zealand, s £2 = N ® w Wales, s £3O/10/-; New Zealand, b £ 2/0/J. Breweries—Dominion Brewery, o £ 10/-; Dunedin Brewery Company, b £l. s £l/4/6; New Zealand Breweries, b Ll/iz/j, Ballins (£1 paid), s 12/-. Coal.—Westport Coal, b £l/3/-. Insurance—National, b 18/3; New Zealand, b £3/1/6; South British, b £2/9/6. Standard, b £2/18/-. Loan and Agency. —National Mortgage B. b £l/1/6; Trustees’ Executors (Dunedin), b £4/2/-; Perpetual Trustees, b £2/10/6. Meat Companies.—New Zealand Refrigerating (£1 paid), b £l/0/3; (10/- paid), b 9/6, s 9/11; Southland Frozen Meat, s £1 16/-; South Otago Freezing Company, b £5. Shipping—Howard Smith, b £l/1/3; Union Steam Ship Company (pref.), b £l/6/-. Woollen Mills—Bruce, s £l/1/6; Kaiapoi (pref.), b 17/-; Mosgiel, b 10/-. Miscellaneous. —Australian Iron and Steel, b £l/6/-; Broken Hill Proprietary, b £2 6/9; G. J. Coles, s £3/10/-; D.I.C. (pref.), b £l/2/6; Dominion Fertilizer, s £l/8/-; Dominion Rubber Company, s £l/1/-; Donaghy’s Rope and Twine, s £2/15/6; Dunlop Rubber (Aust.), s £l/0/6; 1.C.1. (pref.), b £l/3/-; Me Duffs Ltd., s 10/9; Milburn Lime and Cement, s £2; New Zealand Drug, b £3/17/-; New Zealand Paper Mills, b £1 9/3; Otago Daily Times, s £2; Woolworths Ltd., s 17/9; Woolworths (N.Z.), b 13/9; Southland Ice Cream, s £l/5/6. Mining.—Big River, s 1/6; Gillespie’s Beach, s 6d; Mount Lyell, s £l/9/-; Mount Morgans, b 11/-; Nokomai, s 2/-; Austral (N.Z.), s £l/10/-. CHRISTCHURCH Sales Reported.—New Zealand Government 4'/ 4 p.c. Stock 1945 £lO3/15/- (2); New Zealand Breweries £l/13/-, do. £l/13/3; New Zealand Newspapers £l/13/-; Westport Stockton Coal £2/4. Sale on 'Change.—Grey River 16/-. WELLINGTON Sales (late Thursday).—Broken Hill Proprietary £2/7/3; Woolworths (N.Z.) 14/6. Sales (Friday).—4 p.c. Stock 1940-43 £lOl 15/-; Bank of New Zealand £2/1/-; New Zealand Breweries £l/13/-. AUCKLAND Sales.—War Loan 1953 £Bl (late sale); Bank of New Zealand £2/1/- (3); Auckland Gas (con.) 2/10; Broken Hill Proprietary £2/7/-; New Zealand Newspapers £l/13/(late sale); Peter's Ice (New Zealand) 14/(late sale); Woolworths (Svdney) 17/3 (odd lot).

OTAGO PRODUCE MARKETS BENEFICIAL EFFECT OF RAIN (United Press Association) DUNEDIN, January 10. The whole of the South Island has been experiencing an exceptionally dry period with high temperatures. As a result pastures were being burnt up and root crops were also badly in need of rain, as growth was being checked. Heavy rain which fell in Otago on Thursday was therefore most welcome, and fortunately most of the coastal areas received a fair share. The rain was greatest in volume south of Dunedin, and up to one inch and a-half had fallen in some localities by this morning. Both pastures and root crops will be greatly benefited by the rains. The dry weather has caused crops of seeds and grain to mature much earlier than usual. In Canterbury ryegrass and oats have been threshed and in Southland some fescue seed has been saved. The indications point to good supplies of all lines of seeds, wheat and oats. It is also expected that the germination quality of ryegrass seed will be much better than in previous years. With larger quantities of seeds and oats available it is considered that prices will be on a lower basis and the future of the markets will depend largely on the export position as outside markets will have to be found for certain lines if prices are to be maintained The chief concern at present is the difficulty of securing shipping space for deliveries overseas. STONE FRUIT Heavy supplies of stone fruit came to hand early in the week after a spell of very hot weather in Central Otago and the prices realized could nqt have shown growers any margin of profit. Towards the week-end the supplies eased off considerably and all varieties of stone fruit had a keen demand at the maids today. Early varieties of peaches have been in full supply and these are now practically finished for the season. Fair quantities of apricots are on offer and meet a ready sale. Moorparks especially are realizing satisfactory prices. The demand for cherries is disappointing. There was, however, a better inquiry today when payable prices to the grower were being obtained. Choice dessert plums are bringing high prices, but small fruit is selling at low figures. Supplies are arriving chiefly from Canterbury and Central Otago. Small lots of nectarines are reaching the marts. Hothouse tomatoes are in short supply and the market firmed during the week. The first of the season’s outside-grown tomatoes have arrived from Christchurch, but it will be the end of the month before any quantity of outside grown are available. Raspberries were offering at reasonable prices early in _ the week, but extreme rates were ruling at the week-end. Cucumbers continue to arrive from Whangarei. Cabbages and cauliflowers are in heavy supply. There has been a glut of poor quality peas during the week and these have had to be sold at low prices to quit. The hot weather caused the peas to dry quickly and they also arrived in an overheated condition. Runner beans have a good demand. Broad beans are low in price. New potatoes are in good supply.

GOOD QUALITY OF RYEGRASS CHRISTCHURCH PRODUCE MARKETS (United Press Association) CHRISTCHURCH, January 10. One or two wheat crops have already been harvested and within a week or 10 days the harvest should be in full swing. In North Canterbury crops have turned out well though the exceptional heat of the last three weeks will probably pinch some crops. Ryegrass is offering freely now from most districts and much of it appears

to be exceedingly good. Some is.a little light, but in general the sample is good and yields are satisfactory. The market has not settled down yet but prices appear to be about 3/6 on trucks. Algerian oats are coming forward in increasing quantities and the yields are heavy in many districts. The value is from 2/6 to 3/- a bushel on trucks. A few Duns have made their appearance on the market but the sample so far has been poor. . Gartons are beginning to come in and are of an excellent quality. Heavy A grade Gartons are worth 3/- on trucks. LONDON QUOTATIONS LONDON, January 9. The London share quotations are:— Clutha River, 9d, 1/-; Molyneux, 2d, 4d.