COMMERCIAL

Timaru Herald, Volume CXXXVII, Issue 19525, 26 June 1933, Page 14

COMMERCIAL

MEAT IN LONDON. LATEST MARKET QUOTATIONS. United Press Association—By Electrlo Telegraph—Copyright (Received June 25, 5.5 p.m.) LONDON, June 24. The weekly quotations are based on actual sales of wholesale quantities of carcases of mutton or lamb, or of quarters of beef delivered to Smlthfield market and/or London stores. They are compiled by the Quotations Committee, Smlthfield. To arrive at the equivalent ex ship values, one farthing per pound should be deducted from the prices quoted below. Quotations given represent the average for the week, and are not selected lines, but for parcels fairly representative of the bulk of shipments now on offer. Following are the latest quotations for frozen and chilled meat:— New Zealand Sheep.—Canterbury and North Island, selected crossbred wethers and maiden ewes 481 b to 561 b, 4 3-8 d; 571 b to 641 b, 3 7-8 d; 651 b to 721 b, 35d. North Island, 481 b to 561 b, 41d; 571 b to 641 b, 3Jd; 651 b to 721 b, 3id. Ewes, under 481 b, 3 l-8d; 481 b to 641 b, 31d; 651 b to 721 b, 2 7-Bd. Australian Sheep.—First quality, crossbred and or merino wethers, 401 b to 651 b, 3 3-8 d; second quality, 301 b to 551 b, 3 3-8 d; ewes 301 b to 551 b, 3id. Argentine Sheep.—First quality crossbred wethers, 481 b to 641 b, 3ld; 651 b to 721 b, 3 l-Bd. Patagonian Sheep.—Wethers and/or maiden ewes, under 501 b, 33d; 501 b to 601 b, 33d. Ewes 401 b to 501 b, 31d. New Zealand Lambs.—Canterbury, 361 b and under, 7d; 371 b to 421 b, 7d; 431 b to 501 b, 63d; second quality, average about 321 b, 6 l-Bd. Other South Island, 361 b and under, 7d; 371 b to 421 b, 7d; 431 b to 501 b, 63d; selected North Island, including Downs, 361 b and under, 7 l-8d; 371 b to 421 b, 7 1-8; 431 b to 501 b, 63d; second quality, average about 321 b. 6id; other North Island, first quality, 361 b and under, 63d; 371 b to 421 b, 63d; second quality, average about 321 b, 6 Id. Australian Lambs.—Victorian, first quality 361 b and under, 6d; 371 b to 421 b, 6d; other States, first quality, 361 b and under, 53d; 371 b to 421 b, 6d; Victorian second quality, 361 b and under 6d. All States, third quality, average about 261 b, 5 7-Bd. Argentine Lambs.—First quality, 361 b and under, 6ld; 371 b to 421 b, 6d; second quality, average about 261 b, 6d. Patagonian Lambs.—First quality, 361 b and under, 5 7-8 d; 371 bto 421 b, 53d; second quality, average about 301 b, 6d. New Zealand Frozen Beef.—Ox fores 1601 b to 2201 b, 23d; ox hinds 1601 b to 2201 b, 2 l-Bd. Australian Frozen Beef.—Ox crops, 1001 b and under, 23-8 d; over 1001 b, 21d; ox hinds, 1601 b and under, 23d; over 1601 b, 2 7-Bd. Argentine Chilled Beef.—Ox fores, 1601 b to 2201 b, 25d; ox hinds, 1601 b to 2201 b, 4 7-Bd. New Zealand Pigs.—First quality, 601 b to 801 b, 45d; 811 b to 1001 b, 4 3-8 d; 1011 b to 1201 b, 4 3-Bd. Australian Pigs.—First quality, 601 b to lbOlb (average about 801 b), 4id; 1011 b to 1201 b, 4 3-Bd. CHRISTCHURCH STOCK EXCHANGE. LATEST QUOTATIONS. Special to “ The Herald ” CHRISTCHURCH, June 24. The following quotations were current when the Stock Exchange closed for the week-end: —

Business Transacted. Sales on 'Change.—New Zealand Government 4 per cent. Inscribed, 1946, £IOO/10/-; Commercial Bank of Australia, 16/4 (2); Commercial Bank of Sydney, £l7; Union Bank of Australia, £B/10/6; New Zealand Refrigerating (10/- paid', 5/11 (2); Tooths Brewery, 37/1, 37/- (2); Beath and Co. (1/paid), 5/-; Alexander (13/6 paid), 15/3 (2), 15/6; Central Shotover (9d paid), 1/-; Gillespie’s Beach (9d paid), 1/6. Sales reported.—New Zealand Refrigerating (10/- paid), 6/-; Brown, Ewing (ord.), 10/-. REVIEW OF THE SHARE MARKET. More than the average amount of business was transacted on the New Zealand Stock Exchanges last week. Not only was the volume satisfactory, but prices indicated that the confidence of Investors was likely to be retained. A feature was the large number of transfers of bank shares, which were quitted at better figures than those lately ruling. Australian investors are seeking to fill their requirements in New Zealand, and this helps to keep the local market near the level of the Commonwealth. The same influence is apparent In the demand for best industrial stocks, which have been remarkable for their steadiness right through the depression. The gold mining industry Is receiving a great amount of attention, and a considerable amount of capital is being rapidly accumulated for its development. There Is always a danger in times of quick development that some concerns will be over-capitalised. Big figures have been recently paid for areas near Cromwell in the immediate vicinity of claims which have been proved to contain rich gold bearing gravels and these will shortly be floated into public companies. Banking. More business was done in bank shares than had been usual for several weeks. The recent rise in price was maintained, and in several cases increased. The most active of the bank stocks was Commercial of Australia, which varied between 16/1 and 16 B. The prefs reached £B/17/3. Commercial of Sydney moved between £l6/19/- and £l7/2/6. Little alteration was noticeable in E.S.A. Banks, which changed hands at £5 and £5/0/6. National of Australasia, fully paid, rose to £l2/17/6, while the £5 paid were quitted at £6/7/-, and closed at six guineas. National of New Zealand's dividend for the year is 4 per cent, but this did not affect the price of the scrip, which was up to 77/6, and had buyers at the same price. New South Wales were sold at from £3l/17/6 to £32/1/3, and closed weaker at £3l/5/- buyer. £3l/17/6 seller. New Zealands, cum div, were quitted at 47/5 to 47/9; ex div, they had a buyer at 47/-, but no sellers. Union of Australia were up to £B/11/6. after sales were made at £B/10/-. Australasias moved up to £lO/17/6, and then £ll, but none were on offer. Insurance. The demand for shares in the insurance section was exceptionally keen, and difficulty was experienced in obtaining supplies at near buyers’ ideas of values. New Zealands sold at up to 50/-. with offers for more at 49 8. but holders did not quote. South British scored another increase at 68 3 and 68'9. Standard rose to 53/- and were steady at about that price. Nationals were very firm at 17 Queenslands sold at 52 6 to 52 9. with sellers willing to quit at 53/-. Loan and Agency. The shares in this section were more sought after during the last fortnight than at any similar period for 12 months. Dalgetys met a strong market, and sold at £9/7 6. after selling at £9 and £9 5/-. Goldsbrough Morts realised from 27/6 to 26/6. closing :.t 27/-. New Zealand Loan and Mercantile, ordinary stock, was turned over at £3B. National Mortgage, £2 paid,

changed hands at 42/6. New Zealand Guarantee Corporation brought 6/3. Frozen Meat. New Zealand Refrigerating contrlbs. did not keep all the ground they gained in the previous week. From the peak, 6/3 they slipped back to 5/10, closing at buyers 6/11, sellers at 6/-, sales 6/-. The fully paid® varied between 15/2 and 14/5. Gear Meats were very firm at 31/1. Canterbury Meat ordinary, had buyers at £7/10/-, but sellers asked £9. Southland and South Otago were unchanged. Breweries. New Zealand Breweries have been advancing steadily for some weeks, and reached 34/1, and were offered at 34/with buyers at sixpence less. Tooths fell to 37/- after sales were made at 37/6. Tooheys were easier at 22/9. Staples rose to 27/2, and were firm about that figure. Coal. Very little business was passing in coal shares. Westports went up to 12/3, and were still sought at that figure. Kaitangatas, which have been moving upward, realised 20/6 for 16/paid up. Taupiris were steady about 13/6. Miscellaneous. Some of the industrial shares of big Australian companies were inclined to ease, a reaction after the sharp rise they lately experienced. British Tobaccos were a little lower at 34/7. Colonial Sugars dropped to £56, but recovered a little at £56/10/-. Dunlop Rubbers were little altered at 18/6. Kauri Timbers were much better at 13/2 and 13/3. Howard Smiths showed a little improvement at 10/11. A good market was in evidence for superphosphate companies’ shares. Dominion Fertilisers went up to 13/-; New Zealand Drugs were firm at 64/-, and New Zealand Farmers’ Fertilisers were better at 15 'B. Brown Ewing’s, ordinary, sold at 10/-, about one-third the price they brought four years ago. Beath’3 one shilling paid, realised 5/-. Bycrofts went up to 37/-. and Northern Rollers Mills were steady at 28/-. New Zealand Paper Mills showed no change at 27/-. New Zealand Newspapers are 1/- better at 26/-. Woolworths (N.Z.) reached 37/3 for prefs. the highest price they have touched. Wilson's Cements were up to 32/3. Woolworth's (Sydney) prefs. were steady at 25/6. Government Stocks and Bonds. The market for these securities is very good, and prices are well main-. tained, with signs of an upward tendency. Three ar.d a half per cent stock 1938-43 brought £99/15/-. Fiye shillings discount was given for 31 per cent stock 1939-52, while the 31 per cents 1938-52 sold at par. Four per cent stock, 1940, was sold at from 10/to £1 premium. Stock, due 1955, brought £IOO/5/- and £IOO/10/-. Four per cent bonds, 1946, were steady at £IOO/10/-. Debentures. There was a keen demand for local body debentures, and all offerings were readily taken at satisfactory prices. Newmarket Borough, 1946. 55 per cent, changed hands at £lOl/5/-. The same price was given for Auckland City, 51 per cent, 1936. Auckland Harbour Board, 51 per cent, 1937, and 1939, sold at £lOl/5/-. Franklin Electric Power Board, 55 per cent, 1963, realised £9B. Mining. This section continues to provide a very large proportion of the sales, and although the monetary value attached to the transfers is not as great as one might imagine, yet there are signs that this will be remedied in the near future. As the preliminary work of many Of the companies is nearing completion we may expect returns which, if satisfactory, will help to make the market more active, and mayhap Increase the growing list of those claims which are paying dividends. Waihis were a little easier at 21/9 and 22/-. As portion of the capital is now invested in tin dredging enterprises, help for the finances from this source may be looked for. Grand Junction were steady at 3/3 to 3/4. On receipt of information that the ore was much better during the last week. Alexanders took a sudden leap from 10/1 to 14/-, and were asked for at 14(3, but holders wanted 14'11. At the end of the week 15/6 was given and 15/9 asked for contrlbs. Freshfords return of 121 ounces did not help the price of the shares, which was from lid to 121 d, after selling at 13d. King Solomons return of 630 z 14dwts kept the shares round about 2/after sales at from 1/8 to 2/-. Blackwaters, cum div of 1/6, payable ill English currency were steady at 23 '3 and 23/9. Consolidated Goldfields remained unchanged at about 10/-, cum div of 9d. Okaritos were inclined to ease, and sold down to 9/11. Nokomais fell sharply from 4/8 to 4/-. A return is promised in a week or two. as the machinery has reached the gold bearing wash. Gillespie’s Beach were a shade weaker at 1/65. The same applied to Lawson s Flat which brought from 1/8 to 1/7. Australian Mining. A much brighter outlook for Broken Hill companies is apparent, and shares are receiving attention at enhanced prices. The position set out below shows the rise in the base metals for the year, and indicates payable returns for all save copper which is too low to produce dividends for Mt. Lyell. Jan. 25, June 22, 1932 1933 £ s. d. £ s. d. Tin 102 3 9 222 3 9 Copper ...... 37 17 6 36 10 75 Lead 11 17 6 13 3 9 Spelter 10 12 6 17 2 6 Silver 13 7-16 19 1-16 Mount Lyells brought 22/1 to 22/7. Electrolytic Zinc prefs realised 31/3. Broken Hill South sold at 56/45; Broken Hill Proprietary at 34/4. WAR LOAN. British Official Wireless RUGBY, June 22. War Loan, 35 per cent., £99. SILVER. British Official Wireless RUGBY. June 22. Silver—Spot, 19d. forward, 19 l-16d, per standard ounce. PRICE OF GOLD. United Press Association—By Electrlo Tel egr aph —Copyrl gh t LONDON. June 22. Gold is quoted at 122/3 per standard ounce. FRUIT SALES. United Press Association—By Electric Telegraph—Copyright LONDON, June 23 1 Heavy supplies are depressing the i apple mgarket. Tasmanian Sturmera I made 5/6 to 8 6, Granny Smith’s 8/3 ! to 10/3, Dunns 5/9 to 7/-, Cleopatras | 5/- to 8 6. Tasmanian pears: boxes—- { Josephines 6 6 to 8 6, Winter Nelis 9/- to 10/-, Winter Cole 7/- to 10/-, Boses 8/- to 9/9.

Buyers Sellers i s. d. £ s. d. N.Z. Govt. StockSi p.c. Inscr., 193843 and 1938-52 99 15 0 — 4 p.c. Inscr., 1940 . 4 p.c. Inscr., 1946 100 15 0 — and 1949 . . . 100 10 0 — 4 p.c. Inscr., 1955 . — 100 15 0 4 p.c. Bonds, 1941 101 0 0 — Other Debentures Wright, Stephenson, 5 p.c., Perpetual 80 0 0 Booth, Macdonald, 6i p.c., 1937 . . 40 0 0 Banks— Australasia . . . 10 17 6 Adelaide 5 11 3 — Comm, of Aust. . . Comm, of Aust. 0 16 3 0 16 4 (pref.) .... — 8 19 0 National of N.Z. (cum div.) . . . 3 17 5 3 18 3 Comm, of Sydney National of A/asia. 17 1 0 (£10 paid) . . 12 7 6 12 15 0 National of A 'asia. (£5 paid) . . . 6 4 0 6 6 0 New South Wales New Zealand (ex 31 5 0 31 17 6 div.) 2 7 0 — New Zealand (“D” Mort. Shares, ex div.) .... 1 9 6 1 10 9 Union cf Aust. . . 8 10 0 8 10 6 Insurance— National 0 16 11 0 17 0 New Zealand . . . 2 9 8 — Queensland .... — 2 13 0 South British . . — 3 9 0 Standard 2 10 0 2 15 0 Loan & Agency— Dalgety and Co. . Goldsbrough Mort. 9 7 9 9 11 0 (cum div.) . . 1 6 9 1 7 0 N.Z. Guarantee Corporation . . N.Z. Loan & Merc. 0 5 6 - (ord. stock) . . 37 0 0 — Permanent Investment 7 5 0 — United Building Society .... 0 17 0 0 17 3 Perpetual Trustees 2 11 0 — Shipping— Huddart Parker . . P. & O. Deferred 1 10 0 1 11 0 Stock 1 0 0 1 3 0 Union (pref.) . . 1 2 6 — Frozen Meat— Canterbury .... 7 10 0 9 0 0 Canterbury (pref.) N.Z. Refrigerating 5 2 6 (£1 paid) . . . N.Z. Refrigerating 0 14 7 0 14 11 (10/- paid) . . 0 5 10 0 5 11 Gear 1 10 9 — Woollens— Kaiapoi (17/- pd.) 0 6 1 0 7 6 Mosgiel 8 5 0 — Coal— Grey Valley . . . 0 14 3 0 16 9 Westport .... 0 12 3 0 13 Gas— Christchurch . . • — 1 6 11 Breweries— New Zealand (cum div.) i 13 6 1 14 0 Timaru (7/6 paid) 0 3 5 0 3 10 Tooheys . . . 1 2 9 1 3 5 'of.hS . 16 11 1 17 0 ifjLisceUaneuu^ Australasian Paper and Pulp . . . Amalgamated 1 11 9 1 12 9 Wireless . 1 12 0 — Amalgamated Wireless (cont.) 1 2 0 1 4 0

Beath and Co. . . Beath and Co. (1/1 6 6 — paid) 0 4 10 0 5 0 British Tobacco (cum div.) . . 1 14 1 1 14 6 Broken Hill Proprietary .... 1 12 10 1 14 0 Colonial Sugar . . 56 5 0 58 0 0 D.I.C 0 10 6 0 12 6 D.I.C. (pref.) . . . 1 0 3 — Dunlop Rubber . . Electrolytic Zinc 0 18 1 0 18 7 (ord.) 0 19 11 1 0 6 Electrolytic Zinc (pref.) 1 11 2 1 11 5 Dominion Fertiliser Henry Jones 0 13 1 0 14 0 Co-op Herald & Weekly 1 17 6 1 18 0 Times — 2 16 0 Howard Smith . . — 0 10 6 Kauri Timber . . 0 12 0 0 16 0 Mount Lyell . . . 1 2 0 1 2 5 N.Z. Drug Co. . . N.Z. F a r m e r s’ 3 3 0 3 4 6 Co-op. (41 p.c. Stock, 1941 and 1945) 56 10 0 — N.Z. Newspapers . Victoria N y a n z a 1 5 11 1 10 0 Sugar — 0 18 0 Wilson’s Cement . Woolworths (Syd1 12 9 1 13 6 ney), (new, £1 paid, pref.) . . 1 4 4 1 5 3 Mining— Alexander .... Alexander (13s 6d 0 14 6 1 2 6 paid) 0 15 3 0 15 9 Big River .... Blackwater (cum 0 1 5 div.) 1 3 3 1 3 6 Central Shotover (9d paid) . . . 0 0 in 0 1 i Consolidated (cum div.) 0 9 0 0 11 9 Cornish Point . . 0 0 2 — Freshford .... Gillespie’s Beach — 0 1 2 (9d paid) . . . 0 1 & 0 1 7 Golconda (6d pd.) 0 0 9 0 0 10 Golden Dawn . . — 0 2 0 Golden Point . . .— 0 0 11 Golden Sands . . 0 3 0 0 4 0 Kildare Lawson’s Flat (1/0 2 2 0 2 6 paid) 0 1 6 0 1 61 Mahakipawa . . . Mahakipawa 0 0 1 0 0 2 (pref.) 0 0 2 0 0 4 Nokomai 0 3 11 0 4 1 Okarito 0 9 11 0 10 1 Waihi 1 1 10 1 2 0 Waitahu (4/6 pd.) Waihi Grand — 0 7 0 Junction . . . 0 3 3 0 3 4 Mount Coolon . . 0 13 9 0 15 6 Unlisted Stocks. All transactions in stocks quoted in this section are subject to double rates of brokerage, and are not quoted on the official list:— Aotearoa G o Id Prospecting . . 0 3 0 — Bell Hooper . . . Charleston Sluic0 0 in 0 1 0 ing Q 1 8 0 2 0 Bell Hill 0 2 9 0 3 6 Brian Boru. . . . Industries, Ltd. 0 9 0 0 17 0 (12/6 paid) . . — 0 11 0 Snowy River . . . Bell of Kilgour (6d 0 2 6 0 3 0 paid) Invest. Executive — 0 1 1 Trust (B debs.) Were’s Investment — 87 0 0 Trust Mining House Con0 4 0 0 4 2 cessions (3d pd) 0 0 4 0 0 6 Sales—200 Aotearoa Gold Prospecting, 3/-: 2000 Bell Hooper, 1/- (3); 3000 Bell Kilgour (6d paid', 1/3 (2), 1/2, 1/1 (4): 1000 Mining House Concessions (3d paid), 4d (2).