STOCKS AND SHARES

Taranaki Daily News, 30 January 1934, Page 12

STOCKS AND SHARES

TARANAKI EXCHANGE THE LATEST QUOTATIONS. Following are the latest quotations on the Taranaki Stock Exchange:— New Zealand Government Loans.

SALES IN OTHER CENTRES. Sales reported on other exchanges yesterday were:— Christchurch: Commercial Bank of Australia (cum div.), 18s (two parcels); N.Z. Refrigerating (£l. paid, cum div.), 19s lid (3); N.Z. Refrigerating (10s paid, cum div.), 9s 3d;.New Zealand Breweries, 40s Id (2); Electrolytic Zinc (ord.), 27s (2); Mt. Lyell, 26s (8), 25s lid (5); Bell Hooper (Is paid), 9d; Gillespie’s Beach, 2s 4d; Maerewhenua, 101 d; Mahakipawa, 2d (2); Waitahu, 6s 6d (2).' Sales reported: New Zealand Breweries, 40s 6d; British Tobacco, 37s 3d; Donaghy Rope and Twine, 47s 6d.

SYDNEY EXCHANGE QUIET. By Telegraph—Press Assn.—Copyright. ■Rec. 8.20 p.m. Sydney, Jan. 29. The Stock Exchange is quiet, values in all departments displaying a tendency to ease. Sales reported were: Bank of Adelaide, £6 7s 6d; Colonial Sugar, £65 ss; Australian Provincial Assurance, Us sd; Howard Smith, 15s 9d; Bums Philp, 54s 6d; British Tobacco, 37s 6d; Associated News,->2ls 6d; ditto, pref., 22s lid; Tooths, 44s 3d; Tooheys, 27s 9d; Dunlop Perdriau, 21s 3d; Goldsbrough, 35s 6d; Winchcombe Carson, 31s 6d; Electrolytic Zinc, 275;

I David Jones, 37s 6d; Anthony Hordern, 16s; Standard Cement, 18s 9d; Australian Iron and Steel, pref., 21s; Drug Houses of Australia, 18s; Lustre Hosiery, 22s 7Acl; Mt. Morgan, 70s; Broken Hill Pty., 44s 3d; Bulolo Gold, £6 15s; Kuala Kampar, 15s. Melbourne: There was no exchange call owing to the Anniversary Day holiday. MINING INFORMATION. The secretary of the Taranaki Stock Exchange (Mr.' Duncan McAllum) was advised yesterday:— Broken Hill South, Limited: That a dividend of Is 6d a share has been declared,. payable in Melbourne. Books close February 7. [This is the third distribution made for the current year, which ends on June 30. Dividends of Is each were paid in September and December, 1933, so that to date 174 per cent, has been declared. In 1932-33 a total of 15 per cent, was paid compared with 10 per cent, in 1931-32 and 74 per cent, in 1930-31.1 , , T Bell KilgourCo.: Wash-up ended January 26, 50oz. 18dwts. 13gns. Golden Sands: Return for the week 430 z. 7dwt. of gold' for 36 shifts sluicing. Bell-Hooper: Wash-up for the week ended January 26, 350 z. lOdwt. Charleston Sluicing: Reporting on the progress of the repair work being carried out at the Charleston Sluicing Company’s claim at Croninville, the _ mine supervisor states that two breaks in the water race had been completed. The first had involved driving a tunnel in the blue reef of 70 feet and the other was open ditch. A start had been made on laying rails in the tunnel, and all the material was on the'ground. Waitahu (Otago): The top boxes'Were washed on Friday, January 19, and 24 ounces obtained for 12 days’ work opening out the face; Mahakipawa: Wash-up for week 430 z. alluvial gold. GLENROY GOLD LISTED. The shares of the Glenroy Gold, Ltd., were listed on the Christchurch Exchange on January 23. The authorised capital is £16,000 in Is shares, of which 80,000- fully-paid and 240,000 paid to 6d have been issued. NEW ZEALAND MONEY ABROAD. Current dollar exchanges, as quoted by the New Zealand banks, are as under, compared with previous quotations:—

These valuations represent the current rates at which the banks sell drafts payable on demand.

DOLLAR CONVERSION RATES. ' The Associated Banks have agreed that the conversion rates from January 29 will be:— U.S.A. Canada. Conversion, of dollar bills received for collection and sale of dollar drafts 4.85 4.9(j Purchase of dollar bills .. 5.05 5.10 These conversion rates are, of course, ascertained on a sterling basis (London funds), and therefore current rates of exchange New Zealand on London will also be charged or allowed as the case may require. NEWLY-REGISTERED COMPANIES. There are some sound names in the Christchurch business world among the subscribers to a newly registered private company called Pashan Products, Limited, Christchurch, planters and growers of fruit and manufacturers. Capital: £12,000, into 12,000 shares of £1 each. Subscribers:—Auckland: M. Baldock, * 350 shares; A. F. Cade, 3850. Christchurch: A. McKellar, 250; A. H. Cavell, 750; A. Carey, 500; Geo. Gould, 250; G. O. Greenwood, 250; W. Machin, 250; W. S. Callick, 1000; F. S. Taylor, 500; A. L. Cropp, 500; J. MacMillan Brown, 250; I. D. Wood, 500; P. D. Hall, 500; D. R. L Mclntosh, 250; A. P. A. Nicholls, 250; Ebenezer May (Pidgeon Bay), 750; L. W. Batten, 500; W. F. Baker, 100; P. S. Foster, 250; S. P. Carey, 200. A public company registration is: Mining Investment Corporation, Limited, Wellington:—Objects: To undertake the business of an investment company in the shares and securities of companies formed for the purpose of mining. Capital: £lOO,OOO, into 2.000,000 shares of Is each. Subscribers: Wellington, W. S. Wilson, J. J. Garnett, A. H. Kimbell, C. W. Sal-

mon, N. Webster, L. V. Ellis, F. W. Mothes, one share each. INCREASES OF CAPITAL. New Zealand Wool Graders, Limited: Capital increased to £6OOO by the creation of 1500 preference shares of £1 each. Amalgamated Kawarau Gold Mining Company, Limited, Wellington. Capital increased from £150,000 to £250,000 by the issue of ordinary shares of Is each. COMPANY WINDING UP. Waikato and Thames Valley Co-opera-tive Calf By-product Company, Limited: S. C. G. Lye, Hamilton, farmer, liquidator. SHEEPSKINS AND HIDES. KEEN/WELLINGTON COMPETITION. . There was very keen competition for sheepskins and hides at the fortnightly sale held by the combined Wellington brokers on Friday. Prices for sheepskins were firm at the advance registered Ust sale, fine woolled lots showing a tendency to harden further. Salted pelts and short wools were in good request at slightly, better figures. . Hides were keenly competed for by both tanners and exporting buyers at a general advance of l-8d to Id per lb. Kip and yearlings were barely up to last sale’s level, excepting in heavy weights. Calfskins sold 'at par with last sale. Tallow 'was firm- at late rates. The following is the official range of prices:— • Dry Sheepskins: Halfbred, ll?d to 12id; fine crossbred, 104 d to 12id; medium crossbred, 7|d to 10s; coarse crossbred, 6Jd to 9d; half wools, 51d to 7d; quarter wool?, 4Jd to 5Jd; pelts, 4Jd to Hid. Salted skins: Pelts, 1? to 2s 6d; quarter wools, Is 4d to 2s 7d; half wools, Is 2d to'3s Id; full wools, 5s 4d. Hides: Ox, 331 b to 441 b, 5 3-8 d to 6d; 451 b to 521 b, 5Jd to 6 7-8 d; 531 b to 591 b, 54d to 7£d; 601 b to 691 b, 4d to 7id; 701 b and over, 44d to 7 5-8 d; cow, 331 b to 391 b, 5 l-Bd. to 6 l-8d; 401 b .to 481 b, 3|d to 6 l-8d; 491 b and over, 33d to 6 l-8d; kip, 251 b to 321 b, 4|d to 6 l-8d; 171 b to 241 b, 3d to 7d; yearling, 111 b to 161 b, 54d to 7 7-8 d; calf, 91b to 101 b, 54d to 8 l-8d; 61b to 81b, 8d to 10id; 11b to 51b, 5d to 9fd. Tallow: Ip casks, etc., 15s 6d to 17s; in Sundries: Cow tails, 4d; horse hair, 7d. tins, 10s to 14s.

LONDON PRODUCE PRICES BUTTER SHOWS ADVANCE OF 2s. FALL IN CHEESE QUOTATIONS. The London butter market closed quiet at . 67s to 68s at the end of last week after rising 3s to 69s on an active demand earlier in the week. The closing prices were 2s above quotations for the previous vzeek: . Australian closed at 64s to 655, 2s better than the previous week, while Danish closed at 89s to 90s spot, an improvement of 3s on the previous week. Consumption is well maintained, the deliveries of New Zealand butter being 2133 tons and the quantity in store at the end' of the week 3200 tons, including 2275 tons just discharged ex the Akaroa. The cheese market closed quiet at 41s to 42s for white and 43s to 44s for coloured. White cheese prices are Is lower than the previous week, and coloured Is higher. • The Dairy Board’s London office reports Friday’s official closing quotations as follow, those for the previous week being shown in parentheses:— Butter. New Zealand, salted, 67s to 68s; ex. 69s (65s to -665; January 26, 1933, 79s to 80s); 67s to 68s equals approximately 7.66 d f.o.b. Unsalted, 72s to 74s (70s to 725; January 26, 1933, 90s to 925). Deliveries, New Zealand, 2133 tons. In Store, New Zealand, 3200 tons includes 2275 tons ex Akaroa (last year 6582). Australian, salted, 64s to 65s (62s to 635); unsalted, 66s to 68s (65s to 665). Deliveries, Australian, 2475 tons. In store, Australian, 6650 tons. Market quiet. Active demand earlier in week. Argentine, unsalted, 62s to 64s (62s to, 665). Danish, 67s f.0.b., 89s to 90s spot (655, 86s to 87s). Dutch, unsalted, 88s Ito 92s (90s to 945). Latvian, unsalted, 75s to 775. Lithuanian, unsalted, 69s to 71s. Siberian, 60s to '62s (58s to 60s). Market slow. Retail prices unchanged. New Zealand 9d, Danish ’lid. Empire Marketing Board’s estimated stocks all butters in store 594,008 boxes (last year 638,200 boxes). The board has also received the following advice from its agents in Canada: Butter: New York, 194 cents; Montreal. 25i cents. Cheese. New Zealand, white, 41s to 42s (4.33 d f.0.b.) (42s to 435; January 26, 1933, 45s 6d to 465); coloured, 43s to 44s (4.58 d f.0.b.) (42s to 43s Id; January 26, 1933, 58s to 595). Deliveries, New Zealand 29,000 crates. In store, New Zealand, 23,000 crates (last year 40,000). Australian, coloured, 42s (40s to 41s). Canadian, white and coloured, 46s to 52s (46s to 525). Deliveries, Canadian, 186,049 boxes. English- finest farmers’, 90s to 94s (90s to 945). Market quiet New Zealand retail price unchanged, 6d. ;

EMPIRE CURRENCIES. STABILISATION SOUTH. It was decided at congress of the Federation of Chambers of Commerce of the British Empire, held in London last June that in the event of failure to achieve international agreement upon the monetary system, the countries of the British Empire should proceed to stabilise by agreement the exchange values of their currencies. Last month a meeting of the council of the chamber was held in London, and

the following resolution was passed unanimously: “That the council welcomes the declaration by the Empire delegates to the World Economic Conference of the desirability of stabilising exchanges between Empire countries, and urges the Governments concerned to take early action to give effect to their declaration, and with this object in .view to assemble as soon as possible an Imperial Monetary Conference.” , j Viscount Elibank, chairman of the council of the federation, said that copies of the resolution had been sent to the Prime Minister of Great Britain and to the Prime Ministers and Finance and Commerce Ministers of the overseas Dominions. He added that the council of the federation felt very strongly that early action should be taken, and he therefore emphasised the urgency of the matter.

Buyers f s. d Sellers £ s. d. 4 p.c. Bonds, 1955 .. 101 5 0 — 4 p.c. ditto, 1940 .... 101 0 0 — 4 p.c. ditto, 1946 .... 102 10 0 — 34 p.c. Ins. Stock, , 1938-52 — 101 7 6 31 p.c. ditto, 1938-43 .. 101 5 0 -— 4 p.c. ditto, 1940 101 0 0 — 4 p.c. ditto, 1946 .... 102 12 6 103 0 0 4 p.c. ditto, 1955 101 0 0 — Debentures. Wellington Gas Co. . 102 15 0 — Wgtn. Racing Club .. 97 10 0 — .Banks. Australasia 12 12 6 — Com. of Aust., ord. .. — *18 3 Eng., Scot, and Aust. — 5 18 0 National of N.Z — 2 9 0 New South Wales .. — 35 0 0 Ditto, Sydney reg. 34 15 0 New Zealand 2 7 9 — Ditto “D” long term 1 12 0 — Financial. Abraham, Williams, pref. 3 0 0 — Wgtn. Trust Loan .. *4 10 0 —• Wgtn. Invest. T. & A. 0 6 0 — General Finance .... 10 0 National Mort. “A” .. — *3 5 6 Gas. Christchurch *19 6 — Wellington, ord *1 17 0 — Wellington, pref. .... — 14 3 Insurance. National of N.Z — 18 9 Queensland 3 4 0 3 8 0 Standard 3 10 —• Meat. N.Z. Refrig., £1 paid — *10 1 Southland 3 2 0 — Transport. Union Steam, pref. .. — 16 0 Coal. Westport - Stockton pref - • • 0 2 6 Timber. Bartholomew 0 12 6 — Kauri 16 0 — Leyland-O’Brien 10 3 — Taringamutu Totara i 0 4 0 —- Breweries. N.Z. Breweries 1 19 9 2 0 3 Staples and Co 1 8 6 •— Miscellaneous. British Tobacco, Aus. 1 17 0 1 17 5 Colonial Sugar .. J.. .—. 65 7 6 Consol. Brick & Pipe 6 4 Dunlop Perdriau .... 113 12 0 Electro Zinc, ord. .. 17 0 — ditto, 8 p.c. pt. pref. *1 14 10 — Howard Smith, ord. .. — 16 2 Prestige, N.Z. pref. . 10 6 113 Sharland & Co., ord. 14 0 16 0 Associated News .... — 12 6 Woolworths, N.Z. pref. 1 16 0 — “Sun” Newspaper ... ■ 4 0 — Oil. 0 3 2 Mining. Bell Kilgour —. Oil Alexander contrib. .. —. 16 2 Big River — ‘0 10 Gillespie’s Beach .... 2 1 — King Solomon 3 8 —— Mount Lyell 15 9 1 5 11 Okarito 9 0 Waihi Grand June. 4 7 - — Waitahu 6 4 6 8 Unofficial List. Glaxo Manufac., pref. • —. 10 0 Taranaki Brewery & Cordials, 12/6 paid — 12 6 Taranaki Amusements •— 1 12 6 Invest. Exec. Trust, “A” deb 100 0 0 Ditto, 2nd “B” deb. — 95 0 0 National Tobacco .... *3 9 6 ■: • Woolworths, ord. ... — 5 10 0 *Cum dividend. 1

U.S. Dollars to £1. Jan 17 Jan 19 Jan 20 Jap 26 Jan 29 Buying 5.18 5.06 5.12 5.06 5.05 Selling 4.98 4.86 4.92 4.86 4.85 Canadian Dollars to £1. Buying 5.18 5.12 5.15 5.11 5.10 Selling 4.98 4.92 4.95 4.91 4.90 The cost in New Zealand currency of the pound sterling and of the principal foreign units, on the latest quotations, is as follows:— Present Price Par s. d. s. d. Australia, pound .... 20 0.00 20 0.00 London, pound 20 11.58 20 0.00 New York, dollar 5 1.78 4 1.31 Montreal, dollar .... 5 1.16 4 1.31 0 3.76 0 1.98 1-10.64 1 11.74 Copenhagen, "krone .. 1 1.38 1 1.22 Yokohama, yen ..... . 1 5.79 2 0.58