COMMERCIAL

Southland Times, Issue 24460, 13 June 1941, Page 2

COMMERCIAL

BANKING SHARES INACTIVE INVERCARGILL STOCK EXCHANGE Government securities continue to attract attention on the Invercargill Stock Exchange. Buyers for the War Loan advanced to £B3. Banks remained quiet. There was no change in the miscellaneous or mining groups. Sales of Farmers’ Trading Company at 19/- and Union Banks at £6/11/- were reported. Quotations were as follows:— Government Debentures.— 4 p.c. Stock 1943-46, b £102; 4 p.c. Bonds 1943-46, b £102; 4 p.c. Stock 1946-49, b/ £103; 4 p.c. Bonds 1946-49, b £103; 4 p.c. Stock 1952-55, b £lO6/15/-; 3>/ 2 p.c. Stock 1953-57, b £lOl/10/-; War Loan, b £B3; 4 p.c. Stock 1948, b £lO2. Banks.—Commercial, b 13/9. s 14/-; Commercial, pref., 4 p.c. (cum.), b £B/15/-; National of Australasia, s £5/16/-; National of New Zealand, s £l/14/6; New South Wales, s £2B; New Zealand, s £l/17/-; Union of Australia, b £6/11/-. Breweries.—Dunedin Brewery Company, s £l/1/9; New Zealand Breweries, b £1 11/-; Ballins (£1 paid), b 10/-, s 11/-. Coal.—Kaitangata, b £l/10/-; Westport Coal, s £l/3/6; Westport Stockton (pref.), b 6/3. Insurance.— National, b 18/3, s 18/9; South British, b £2/11/9; Standard, b £3. Loan and Agency.—National Mortgage, s £l/16/-; Trustees’ Executors (Dunedin), b £4/2/-; Wright, Stephenson (ord.), s 19/9; (pref.), b 19/6; Perpetual Trustees, b £2 11/-.

Meat Companies.—New Zealand Refrigerating (£1 paid), b 16/6; (10/- paid), b 7/1; Southland Frozen Meat, s £l/12/6. Shipping.— Union Steam Ship Company I (pref.), b £l/6/-; P. and O. Stock, b £1 5/-. ■j Woollen Mills.—Bruce, b £l/1/-; Kaiapoi, I b 15/3; Mosgiel, b £10; Wellington Woollens (pref.), b £6/15/-; Timaru, s 15/3. , Miscellaneous.—Australian Consolidated In-

| dustries, b £2/2/6; Broken Hill Proprietary, b £2/2/-, s £2/3/-; D.I.C. (pref.), b £1 3/-; Dominion Fertilizer, s £l/5/6; Dominion Rubber Company, s £1; Donaghy’s Rope and Twine, s £2/12/9; 1.C.1. (pref.), b £l/3/6; McDuffs Ltd. (ord.), s 10/-; Milburn Lime and Cement, s £l/18/-; New Zealand Drug, b £3/16/6; New Zealand Paper Mills, b £l/10/3; Wilson’s (N.Z.) Cement, b 18/9; Woolworths Ltd., b 15/11, s 16/3; Woolworths (N.Z.), s 13/6; Woolworths Properties Ltd., b £l/4/-, s £l/4/9. Mining.—Broken Hill South, b £l/2/-; Electrolytic Zinc (ord.), b £2/12/-; (pref.), b £2/14/-; Mount Lyell, s £l/8/-; Mount Morgans, b 8/9, s 9/3; Okarito, b lOd. DUNEDIN Sales Reported.—Bank of New Zealand £l/16/6; Woolworths (Sydney) 16/-; New Zealand Breweries £l/11/6; Dominion Breweries £l/9/3. CHRISTCHURCH Sales on ’Change.—Bank of New Zealand £l/16/3; New Zealand Breweries £l/11/6; Broken Hill Proprietary £2/2/5. Sales Reported.—Union Bank of Australia £6/12/6; National Insurance 18/6; Christchurch Gas (10/- paid) 10/-; Woolworths (Sydney, ord.) 16/-; Ngahere 10/-. WELLINGTON Sale (late Wednesday).—Broken Hill Proprietary £2/2/6. i Sales (Thursday).—3'/ 2 p.c. Stock 1953-57 l £lOl/17/6; Union Bank £6/10/-; National Insurance 18/6; Woolworths Ltd. 16/-. ! AUCKLAND Sales.—War Loan £B3/10/- (2); Auckland Gas (perpetual stock) £95/10/- (2); Bank of New South Wales £27/10/-; Bank of New 1 Zealand £l/16/6; National Insurance 18/6

(2); Kaiapoi 15/6 (late sale) 15/6; Bycroft £2/3/6; Farmers’ Trading 18/11; New Zealand Newspapers £l/9/9; New Zealand Paper Mills £l/10/6; Sanford (ord.) 3/9 (3); Taranaki Oilfields 5/-; Woolworths (N.Z.) 13/2; Woolworths (Sydney) 16/- (late saie); Mount Lyell £l/5/10; New Occidental 12/6; Maori Gold 4‘ 2 d. SYDNEY (Rec. 10.35 p.m.) SYDNEY, June 12. Stock Exchange buyers appear quietly confident, but business was below normal, except for leading industrials, which were generally steady. Sales:—Commercial Banking Co. of Sydney, £l7/18/-: Union Steam (pref.). £l/2/-; Woolworths. 15/7; Wilcox-Mofflin, 9/-; Milliquin Sugar. £l/18/9; Electrolytic Zinc, £2/13/3; Emperor. 9/2.

Melbourne sales:—Commercial Bank of Australia, 13/-; Metropolitan Gas. £l2/9/-; Heralds, £2/9/-; Felt Textiles, £l/18/-; Mt Lyell. £l/6/6; Mt Morgan, 8/10; Coles, £2/19/6; Loloma, £l/3/9.

RESERVE BANK RETURN

| INCREASE IN STATE | DEPOSITS

i (Special) WELLINGTON, June 12. State deposits with the Reserve Bank for the week ended June 9 showed an increase of £1,823,016. according to the weekly return of tire bank issued tonight. Deposits by the trading banks fell by a similar sum. The statement, showing the variations on i the previous week’s figures, is as follows;—

Proportion of reserve to notes and other demand liabilities 53.386 per cent. (53.653 per cent, last week). SYDNEY PRODUCE MARKET (Rec. 10.35 p.m.) SYDNEY, June 12. The wheat market is unchanged. Quotations: Wheat, silo, 3/11'A a bushel; bagged, 4/3'/ a . Flour. £l2/13/- a ton. Bran and pollard, £6 a ton. Potatoes: Tasmanian, £5/10/- a ton; others. £4/10/-. Onions, brown, £l2/10/- a ton. Maize, 3/7 I to 3/10 a bushel. j MANAWATU KNITTING MILLS (P.A.) AUCKLAND. June 12. The Manawatu Knitting Mills have declared an interim dividend of 3 per cent.

DOMINION BREWERIES (P.A.) AUCKLAND, June 12. The directors of Dominion Breweries Ltd. are recommending a final dividend on all shares of 3| per cent., making 8} per cent, for the year, against 12 per cent, last year.

LIABILITIES General Reserve £ 1,500.000 Variations £ same Bank notes 21,760,707 —19,536 Demand liabilities— State 11.014.596 + 1.823,016 Banks 12.092,458 —1,830,442 Other 418.227 + 42,770 Other currencies 37,067 + 13,244 Other liabilities ; 1,257.031 —213 TOTAL 48,080,089 + 29,842 ASSETS Reserve — Gold 2,801.874 same Sterling exchange 21,411.437 —99.156 Subsidiary coin 75,465 + 77S Advances— Marketing 4,810.717 + 132,723 Other 13.500,000 same Invesfments 3.772.569 —1,001 Other assets 1,708.024 —5.489 TOTAL 48,080,089 + 29.842