COMMERCIAL

Southland Times, Issue 24593, 15 November 1941, Page 3

COMMERCIAL

STOCK EXCHANGE QUOTATIONS

LITTLE CHANGE IN BANKING_SHARES There was little change in the prices for banking shares on the Invercargill Stock Exchange yesterday. Insurances and woollens were fairly active. 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 £lO7/10/-; 3',' 2 P-C. Stock, 195357. 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 £4/5/-; National of New Zealand, b £l/19/3; New South Wales, s £2B/10/-; New Zealand, b £2/0/3; New Zealand Long “D” issue, b £l/11/6; Union of Australia, b £7/4/-. Breweries.— Dominion Brewery, s £1 11/-; New Zealand Breweries, b £l/16/-.

Coal.— Westport Coal, b £l/4/-; Westport Stockton (ord.), b 2/9. Insurance.—National, b 19/9; New Zealand, b £3/11/-; South British, b £3/2/6; 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 9/6; Southland Frozen Meat, b £l/13/6. Shipping.—Huddart-Parker, b £2/4/6; 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 6/2; Mosgiel, b £lO/10/-; Wellington Woollens (ord.), s £7/5/-. Miscellaneous.—Australian Iron and Steel, b £l/8/9; Broken Hill Proprietary, b £1 19/-; British Tobacco (Aust.), s £2/7/-; Colonial Sugar Company, s £52/10/-; D.I.C. (pref.), b £l/4/-; Dominion Fertilizer, b £l/3/-; Hume Pipe (Aust.), b 14/6; 1.C.1. (pref.), b £l/4/6; McDuffs Limited, s 9/3; McKenzie’s Department Stores, Limited, b £2/4/6; Milburn Lime and Cement! b £l/17/-; 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/-; Woolworths Limited, s 16/6; Woolworths (New Zealand), b 14/9. Mining.—North Broken Hill, b £l/18/-; Big River, s 9d; Gillespie’s Beach, s 2 , /?d; Mount Morgans, b 9/-; Nokomai, S 6d; Waihi Investments, b 4/-. DUNEDIN Sale on ’Change.—Martha Gold 8/10. Sales Reported.—Booth Macdonald (pref.) 5/6; Milburn Lime £l/18/6; Martha Gold 8/10; New Zealand Breweries £l/16/3; Westport Stockton Coal 2/10. WELLINGTON Sales.—Late Thursday, Union Bank £7 6/-; National Insurance £1; Woolworths Limited 16/5; Friday, Woolworths (New Zealand) (2) 15/-. AUCKLAND Sales.—Stock 1943-46, 4 p.c., £lOl/15/-; 1949-52, 4 p.c., £lO6/12/6; City of Auckland, 1944-65, 4‘/i p.c., £lO3/12/6; Bank of New Zealand £2/0/6 (cum div), £l/19/6 (2). (ex div); Australian Alloy Steel 8/6; Gartrell White (pref.) 19/4'/ 2 ; Farmers’ Trading £1 2/-; Peters Ice (New Zealand) 14/-; Woolworths (Sydney) 16/5; Emperor 11/9, 11/3.

BRUCE WOOLLEN COMPANY NET PROFIT OF £20,149 (Special) DUNEDIN, November 14. The report of the directors of the Bruce Woollen Manufacturing Company, Ltd., for the year ended on September 19 last states that after the provision of £12,150 for depreciation on buildings, plant and machinery and after provision also for the payment of income tax and National Security and Social Security tax, the net profit is £20,149. The balance of £BO5B carried forward increases the total in the profit and loss appropriation account to £28,207. The directors recommend that this would be dealt with as follows: — Payment of a dividend on cumulative preference shares, £2800; payment of dividend at 6 per cent, on ordinary shares, £6000; payment of a bonus of 2 per cent, on ordinary shares, £2000; transfer to reserve account, £8000; carry forward, £9407. DUNEDIN PRODUCE MARKETS NO CHANGE IN WHEAT (P.A.) DUNEDIN, November 14. Reports from the country state that in some districts there has been too much rain, while in other areas, such as Central Otago and Mid-Can-terbury, there is not enough. As a consequence farming work is being interfered with and in some cases the sowing of seeds is held up altogether. There is no change in the fowl wheat market. Supplies of the best quality are not over-plentiful, but there are fair supplies of under-grade available. Business in the market for oats continues to be restricted because, it is claimed, of the existence of the price order. Stocks are now on the light side and they will continue to become lighter until the new season’s oats are available in February and March. In the meantime North Island merchants are kept going with odd parcels of undergrade oats from the South Island. The price for these oats is 3/9 to 4/3 f.o.b.si..

Stocks of chaff are ample for requirements and there is no change in prices. Scarcity of both old and new potatoes continues. The late season is delaying the arrival of new potatoes, and moreover, reports state that where digging has begun the yields are lower than those at this time last year. New potatoes are reaching the market from the North Island and also from some of the local areas. The prices of both old potatoes and new potatoes remain very firm. Deliveries of seeds to the country continue and farmers are taking every opportunity to do their sowing. Merchants are adding to their stocks and this has resulted in several transactions in cocksfoot, ryegrass and other seeds. The export demand continues and this is keeping prices very firm. Sales have been made to England, America and Australia, the lines handled being ryegrass, cocksfoot, white clover and dogstail and some sales of cowgrass for export have also been made. Supplies of seeds suitable for export are, however, now getting into small compass and this is limiting business.

OPOSSUM SKIN SALE AT DUNEDIN (Special) DUNEDIN, November 14 . A supplementary opossum skin sale was held today when approximately 67,000 skins were submitted. Because of the wet season experienced in some districts extra time was given for trapping and practically all the catch has now been disposed of. The bulk of the catalogues comprised skins drawn from North Island districts, and generally the quality and condition of the offering were well up to the standard of previous sales. Because of the uncertain conditions which have developed lately in the United States through the Japanese attitude, buyers were somewhat cautious and hesitant. Values accordingly were easier as compared with the rates ruling in October. Browns were 6d to 1/6, blacks 6d to 2/-, reds and rustys 9d to 1/5, greys 2/- to 2/6, slates 8d to 1/3 and blues 3d to 6d lower. Thirds and damaged sold at low rates and skins that were badly damaged, stale, rough, tanned or lumpers were

difficult to sell and at time's did not elicit a bid. Extra supei’ blues sold to 14/7 each, super blues to 14/1, firsts to 13/7; super greys to 10/10, firsts to 9/11; greys (rusty), super to 9/4, firsts to 8/10; red necks, super to 9/10, firsts to 9/8, seconds to 7/9; browns, super to 7/11, first to 7/8; blacks, super to 6/10, firsts to 5/4; slates, super to 6/2, firsts to 5/9. WYNDHAM STOCK SALE There was a small yarding of all classes of sheep forward for Thursday’s stock sale at Wyndham. The fat section comprised a few pens of shorn fat ewes, which sold from 10/- to 13/-. The store sheep penned were a few lots of aged ewes and lambs, which realized from 11/- to 15/- all counted. There was a small yarding of fat cattle and a large one of stores. The best fat bullocks sold from £l3 to £l4, fat heifers from £9 to £ll, fat cows from £7 to £lO. Two-year-old Hereford steers made £B/5/-, .1 2 -year Shorthorn and Hereford steers £6, store cows £3 to £5/10/-. Any good dairy cows or heifers were sold under keen competition from £8 to £ll. A small yarding of pigs was penned and sold from 21/to 26/-.

OTAUTAU SALEYARDS CO. The forty-fourth annual report of the Otautau Saleyards Company states: “Although there has been a drop in the number of stock offered this year business has been well maintained and prices on the whole were very good, indicating that the Otautau yards are very centrally situated for the centralization of stock for offer by auction in the Western District. Some 71,267 sheep 723 rams, 163 cattle, 168 horses and a large quantity of sundries have passed through the yards. To further facilitate the handling of stock by motor-lorry, a new loading-bank has been erected near the western entrance. Repairs and maintenance this year had been higher than expected, due to the large amount of labour required in thoroughly grubbing the weeds and cleaning the old pens, the report states. Extensive repair work in this portion and the stables had also been necessary. The retiring directors are Messrs J. C. Millar and J. T. Ryan, and Mr John Fisher is the retiring auditor. GREY RIVER RETURN (P.A.) WELLINGTON, November 14. The Grey River return for the week ended November 12 was 198aoz for 133 J hours and 94,079 cubic yards. The Maori gold return for the week was 60oz 14dwt for 118 hours and 10,000 yards.