COMMERCIAL

Southland Times, Issue 24592, 14 November 1941, Page 3

COMMERCIAL

STOCK EXCHANGE QUOTATIONS

FIRMER MARKET FOR GOVERNMENT STOCK There was a firmer market on the Invercargill Stock Exchange yesterday morning for the long-dated Government securities. Banking shares continue quiet. Quotations were as follows:— Government Debentures. — 4 p.c. Stock, 1943-46, b £lOl/10/-; 4 p.c. Stock, 1946-49, b £103; 4 p.c. Stock, 1952, b £lO6/5/-; 4 p.c. Stock, 1952-55, b £107; 4 p.c. Stock, 1954-58. b £lO7/5/-; 3>/z pc. Stock, 1953-57, b £lOl/10/-; War Loan, 1953, b £B7/15/-, s £88; 3 p.c., 1951-54, b £97/10/-. Banks.—E.S. and A. Bank, s £4/2/6; New South Wales, s £2B/10/-; New Zealand, b £2/0/3; New Zealand Long "D” issue, b £l/11/6. Breweries.—Dominion Brewery, s £1 11/3; New Zealand Breweries, b £l/16/-. Coal.— Westport Coal, b £l/4/-; Westport Stockton (pref.), b 6/6. Insurance.— National, b 19/9; New Zealand, b £3/11/-; South British, b £3/2/-; Standard, b £3/3/-. Loan and Agency.— Dalgety and Company, b £6/5/-; National Mortgage, b £1 19/6; Perpetual Trustees, b £2/10/6; Trustees’ Executors (Dunedin), b £4/5/-; Wright, Stephenson (ord.), b 18/3, (pref.), b 19/-. Meat Companies.—New Zealand Refrigerating (10/- paid), b 9/4. s 9/9; Southland Frozen Meat, b £l/13/6. Shipping.— Huddart-Parker s £2/6/-; Union Steam Ship Company (pref.), b £1 6/-; P. and O. Stock, b £l/13/-. Woollen Mills.—Bond's Hosiery, b £l/9/9; Bruce, b £l/4/-; Kaiapoi (con.), b 6/-; Mosgiel, b £lO/10/-. Miscellaneous.—Australian Iron and Steel, b £l/8/-; Colonial Sugar Company, s £52 10/-; D.1.C.. (pref.), b £l/4/6, (ord.), b 14/3; Dunlop Rubber (Aust.), b £l/2/6; Hume Pipe (Aust.), b 14/6; 1.C.1. (pref.), b £l/4/6; McDufTs Limited, s 9/3; McKenzie’s Department Stores. Limited, b £2/4/-; New Zealand Drug, b £4; New Zealand Farmers’ Fertilizers, b £l/0/3; New Zealand Guarantee Corporation, b 2/9; New Zealand Paper Mills, b £l/14/-; Otago Daily Times, b £1 19/-; Woolworths Limited, s 16/6; Woolworths (New Zealand), b 14/9. Mining.—North Broken Hill, b £2; Big River, s 9d; Gillespie’s Beach, s 2*/ad; Mount Morgans, b 9/-; Waihi Investments, b 4/-. CHRISTCHURCH Sales Reported.—War Loan, 1953, £88; New Zealand Breweries (late Wednesday) £l/16/-; New Zealand Breweries £l/16/-. RECORD PRICE FOR NEW POTATOES

SHORTAGE AT PUKEKOHE (Special) AUCKLAND, Nov. 13. The serious shortage in Pukekohe of new potatoes. which developed on Monday was reflected yesterday by a rise in the price of 2/- per cwt. Supplies going away were being invoiced to retailers at 31/- per cwt, on rail Pukekohe, and to wholesalers at £29 a ton. This is probably a record high level for this time of the year. The present situation is in sharp contrast to the position on the corresponding date last year. The price was then 10/- per cwt, with large supplies offering and business slow. Factors which are given as the prime causes of the very high prices are a demand greater than the normal, because of the scarcity of old potatoes, and a decreased acreage this year at Pukekohe in new potatoes. One estimate is that there were 200 acres less in potatoes here this spring than last. The weather last month was not good, with the result that crops coming out now are light. The yield is stated to be four to six tons an acre, as against six to eight tons a year ago.

RESERVE BANK RETURN (Special) WELLINGTON, November 13. The statement of the assets and liabilities of the Reserve Bank of New Zealand at the close of business on Monday, November 10, is as follows;— LIABILITIES

ASSETS

Proportion of reserve to notes and other demand liabilities 37.413 per cent. (35.236 per cent, last week). COLOMBO TEA SALE J. Rattray and Son, Ltd., have received the following report of a tea auction held in Colombo on Tuesday: The quality of the offerings was plain with a good demand for all grades at lower rates. Fine quality teas were firm, but all other grades declined by |d to Id.

Nov. 10 £ Nov. 3. £ General reserve fund 1,500,000 1,500,000 Bank notes 22,119,504 22,167,678 Demand liabilities— State 9,085,374 7,031,038 Banks 8,084,610 8,647,934 Other 352.090 1,070,269 Other currencies 17,145 14,037 Other liabilities 1,020,777 1,020,143 TOTAL 42,179,500 41,451,000

Reserve gold 2.801,874 2,801,874 Sterling exchange 12,046,393 10,924,927 Subsidiary coin 61,684 62,588 Advances — Marketing 5,396,663 5,762,292 Other 16,500,000 16,500,000 Investments 3,842,379 3,842,279 Other assets 1,530,506 1,557,038 TOTAL 42,179,500 41,451,099