COMMERCIAL

Southland Times, Issue 24649, 22 January 1942, Page 2

COMMERCIAL

banking shares QUIET

INVERCARGILL STOCK EXCHANGE There were very few buyers for banking and insurance companies’ shares on the Invercargill Stock Exchange yesterday. The bond market was the most active. Quotations were as follows.— Government Debentures.—4 p.c. Stock 1943-46, b £lO2/15/-; 4 p.c. Stock 1946-49, b £lO3/15/-; 4 p.c. Stock 1952, b £lO5 7/6; 4 p.c. Stock 1952-55, s £106; 3>/ z p.c. Stock 1953-57, b £100; 31/4 p.c. Stock 195659,' b £99/10/-; War Loan 1953, s £B7. Banks.—Commercial, b 12/6; New Zealand, s £l/19/-; New Zealand Long "D” issue, s £l/10/6; Union of Australia, s £6 15/-. Breweries.—Dunedin Brewery Company, s £1; New Zealand Breweries, b £l/14/6. Insurance.—National, s £l.

Loan and Agency.—Perpetual Trustees, b £2/10/-; Trustees’ Executors (Dunedin), b £4/4/-; Wright, Stephenson (pref.), s £1 Aleat Companies.—New Zealand Refrigerating (10/- paid), b 8/6; Southland Frozen Meat, b £l/13/-; South Otago Freezing Company, b £5. Shipping,—Union Steam Ship Company (pref.), b £l/6/6; P. and O. Stock, s £1 17/6. Woollen Mills.—Bruce, b £l/3/-; Kaiapoi (cont.), b 6/3; Mosgiel, b £lO/10/-; Timaru, s 18/6.

Miscellaneous.—Australian Consolidated Industries, b £2/2/-; Broken Hill Proprietary, b £l/16/-: Colonial Sugar Company, s £4B: D.I.C. (pref.), b £l/4/-; Dominion Rubber Company, s 10/-; Donaghy’s Rope and Twine, s £2/11/6; Dunlop Rubber (Aust.), s £l/2/-; McDuffs Ltd., s 9/3; McLeod Bros’ Soap, b £25; New Zealand Drug, s £4/1/-; Otago Daily Times, b £l/17/-. Mining.—Broken Hill South, b £l/2/-; North Broken Hill, b £l/17/-: Gillespie’s Beach, s 2 1 ,fed; Mount Lyell, s £l/6/6; Mount Morgan, s 9/-. DUNEDIN Sales Reported.—Dunedin City Council 1958 4>,i p.c.' £108; 4 p.c. Stock 1943-46 £lO2/12/6, £lO2/15/-; Farmers’ Fertilizer £l. CHRISTCHURCH Sales Reported.—Springs Ellesmere Electric Power Board 3’/ z p.c. 1966 £lOl/15/-; Woolworths Ltd. (late Tuesday) 15/9; (Wednesday) 15/9. WELLINGTON 1 Sales.— 3 p.c. Stock 1951-54 £9B/10/-: War Loan 1953 £B7; Wellington Gas (ord.) £1 ,9/6; Mac Duffs Ltd. (ord.) 9/-; Wilson’s Cement 18/-: Woolworths Holdings (South Africa) 17/3. AUCKLAND Sales.—Bonds 1946-49 4 p.c. £104; 1952-55 4 p.c. £106; War Loan 1953 £B6/17/6 (2); 1951-54 3 p.c. £9B/10/-; Stock 1957-60 3>/< p.c. £lOl/2/6; Auckland Harbour Board 1959 4H p.c. £lO6/5/-: Auckland Gas 6/-; Consolidated Brick 7/4 (late sale); G. J. Coles £2/15/-: Woolworths (N.Z.) 14/8; Woolworths (Sydney) 15/8; Emperor 9/-; Gillespie’s Beach 2’,fed.

CITY TRADING

Progress Of Crops

OATS.—The growing crop looks exceptionally well. It is making strong growth with indications of heavy yields provided that the weather is satisfactory from now on. The harvest will be fully a fortnight later than last year. The Government Statistician places the carry-over of oats at just on 8000 bushels, but the trade is at a loss to understand where this carry-over is at the moment. This is the highest figure since 1938, and it was recognized that the clearance this year had been the best for some years. WHEAT—Supplies of fowl wheat are very scarce at the moment. The new crop is looking particularly well and promises to yield well up to last season’s excellent return.

RYEGRASS—The crop is very backward and it will be the beginning of February before cutting will be gen-' eral. There are grave doubts about the crop in Southland because of the consistent rain. Merchants have the impression that germination will be affected. The present indications are that there will be a smaller area harvested of both certified and uncertified WHITE CLOVER—It is considered that the quantity harvested this year will most certainly be less than in the previous season. Growers report that because of the heavy rain ryegrass and dogstail are still growing strongly and thus the crop will not be as heavy in many of the stands. Local stocks are extremely light and it is hoped that there will be sunshine to develop the seed head, as this seed will be in demand.

DOGSTAIL—Reports from the Eastern District indicate that crops are looking very well, but the area reserved for seed production is considerably less than usual. It is not expected that there will be a strong overseas demand for this seed.

CHEWINGS FESCUE—The cutting of the crop is now in full swing on lighter land in the Mossburn district, and the next week should see the bulk of the crop in stook. The indications are that the crop will be much larger than last year because of a greater acreage being shut up, while the yields promise to be satisfactory. Merchants are trying to arrange shipping space to enable the testing of the American market.Until some finality is reached it is difficult to indicate any prices. FRUIT AND VEGETABLES Heavier supplies of stone fruit are coming forward and prices are considerably easier. Tomatoes have dropped in price but consignments have a tendency to ease off; the market is therefore uncertain. There is a keen demand for raspberries and fair supplies are forthcoming. Cucumbers are plentiful and prices have dropped. The market is bare of lemons at present. It is understood that oranges and bananas may come to hand soon. Fresh vegetables are more plentiful and the demand is slack. > Wholesale prices range as follows: — Tomatoes, from 9d to 1/- per lb; apricots, from 4/- to 8/6 a box; peaches, from 3/- to 5/6 a box; plums, from 4/to 6/- a box; cherries, choice, from 1/3 to 1/8 per lb; others, from 6d to 1/per lb; raspberries, 16/- a bucket; cucumbers, from 6/6 to 8/- a box; carrots, from 2/- to 3/- a dozen bunches; cabbages, from 4/- to 5/- a bag; cauliflowers, from 10/- to 12/- a bag; green peas, from 2d to 4d per lb; lettuce, from 1/6 to 2/- a dozen. SEPARATOR BUTTER AND EGGS Eggs were quoted yesterday by the Master Grocers’ Association at 1/4 wholesale and 1/6 retail. Separator butter was quoted at from 9d to 1/wholesale and from 1/- to 1/3 retail, according to quality. The prices of eggs and separator butter are subject to constant variation. The prices quoted were those ruling yesterday. McNAB STOCK SALE There was a small yarding, made up mainly by fat sheep and cattle, at the fortnightly McNab stock sale on Tuesday. In the sheep section fat wethers realized from 15/- to 25/9, other sorts selling at 25/- and 23/6. Fat ewes brought up to 18/-, other lines selling at 12/- and 10/9. Two lines of maiden ewes realized 18/6. In the fat cattle section fat heifers brought from £7/7/6 to £7/15/-. .