SHARE MARKET

Timaru Herald, Volume CXXXVII, Issue 19627, 23 October 1933, Page 14

SHARE MARKET

WEEKLY REVIEW fewer sales made A considerable reduction in the number of sales on the New Zealand Stock Exchange was the most noticeable feature of the week's operations. After a fairly lengthy period of activity, a lull was bound to follow, and about twenty-five per cent fewer transactions were recorded. There was no appreciable fall in the majority of the prices for the various stocks. Bank shares seemed Inclined to ease, but as the rise had been rapid and the return for the money invested comparatively small, Investors probably thought that It might pay to await developments which may arise in th» course of the debates on the legislation affecting the banks. The restrictions which the Mines Department have inserted in mining leases will tend to lessen the promotion of public companies to work claims, but as many of these have been insufficiently tested, much good will probably result from this action of the Department. Investors will have reasonable expectation that good value for their money is being given and though sales of shares may be fewer, genuine investment will reap a benefit. Banking. Legislation affecting the status and tlie business of the banks, especially those which do the major part of their operations in the Dominion, caused investors some concern and lessened the number of transactions. New Zealands declined from 47/10 to 46/-, and closed with a buyer at 45/6, seller 45/9. National of New Zealand were easier at 84/3 to 83/9, buyers 83/6, no sellers. Commercial of Australia had transfers at 16/9 to 16/11, and are firm about those prices. Commercial of Sydney have eased to £l7/19/-, with a sale at £lB. E., 8. and A. Banks declined sharply to £5/12/9, after a sale at £5/16/6, recovering to £5/14/-. NewSouth Wales were sold at £34/7/6 and £34/10/-, and are sought at £34/2/6. National of Australasia, fully paid, sold at £l3/10/- and £l3/12/-. The five pound paid ups are wanted at £6/14/-. Australasias are not so strong, with sales at £l2/15/-, and buyers at £l2/12/6. Union Banks sold at £lO/6/and £lO/7/-, at which latter price buyers stayed in. Insurance. The prices of these shares keep well up to the level they have in recent months attained. New Zealands show little change at 54/3 to 54/6. South British has had a little better year than the previous one, and the shares reached 74/3. Nationals were dealt In at 18/3 to 18/5. Standards kept their figure at 61/-. Queensland took a Jump and went up to 60/- alter a sale at 59/-. A.P_A. are firm at 12/-. Loan and Agency. The shares of the Australian pastoral companies are becoming increasingly popular as the outlook for the agricultural and grazing industries brightens. Dalgetys improved to £ll/2/6, with buyers at £lO/17/-. Goldsborough Morts realised 29/-, and are available at that price, buyers one penny less. National Mortgages, A issue, after a sale at 53/9, are offered at 54/6 with buyers at 54/-. New Zealand and River Plate are sought at 24/6, with none offering. Wright Stephensons ordinary are on the market at 15/6, with bakers at 10/-. New Zealand Guarantee Corporation sold at 8/2 and 8/3. Frozen Meat. Canterbury Frozen Meat ordinary were turned over at ten guineas, the highest price paid for them for some years. Buyers are willing to give £lO/7/6. New Zealand Refrigerating oontribs. were up a little at 9/6 and closed with a sale at 9/4. Gears were at 32/3 cum rights. Southland paids have buyers at 54/3, no sellers. Contrlbs. are offering at 32/-, but buyers are reticent. Breweries. The demand for New Zealand Breweries has eased and the price has fallen from 37/9 to 36/9, at which figure sellers .are willing to operate, but buyers stop at 36/-. Staples were up a little at 28/9, with more on offer at 29/-. Tooheys firmed up to 25/-. Tooths were slightly lower at from 42/6 to 42/-. Coal. A little firmer market exists for coal shares. Taupiris were steady at 14/-. Westports were up slightly at 13/9, at which price more are wanted. Kaltangatas changed hands at 22/- and 22/3. Miscellaneous. The market for scrip in industrial companies with established businesses and ample reserves is very good. Difficulty is experienced in obtaining supplies at buyers’ limits. Colonial Sugars went up to £59/12/6 after which offers of £6O failed to tempt holders. British Tobaccos were quitted at 37/4 and 37, 6. Dunlop Rubbers changed hands at 18/11 to 18/8. Howard Smith slipped back to 13/9 with buyers at 12/9. Bycrofts were better at 40/-. New Zealand Drugs showed a slight increase at 70/3. Wilson's Cements rose from 25/- to 27/6. Mosgiel Woollens went up to £9/7/6. Kaiapoi Woollens fully paid were sold at 8/6. New Zealand Newspapers improved to 27/6. Otago Dally Times realised 45/6. Woolworths (N.Z.), prefs., were transferred at 36/-. Beaths ordinary are about 28/-, and the one shilling paid brought 6/- and 6/1. Kauri Timber improved to 14/-. Donaghy’s Rope were firm at 42/6. Government Stocks and Bonds. Investors in these securities are becoming more numerous and large parcels are changing hands. Prices are firm, and supplies at present figures are limited. Three and a half per cent. Stock, 1938-43, brought £lOl/5/-. Stock maturing 1938-52 realised £lOl 15/-. Four per cent. Stock, 1940, sold at £lOl/12/6. Four per cent. Stock, 1949, ex Interest, was quitted at 7/6 premium. Stock maturing in 1955 brought £lOl/10/-. The Bonds of the issue of 1940 sold at £lO2/10/-. Debentures. There is a good market for all local body debentures. Auckland Harbour Board, 1961, five and a half per cent., sold at £lO3. Birkenhead and Northcote Gas, fi per cent., 1938, changed hands at par. Mount Roskill Borough, 5S per cent., 1960, realised £1 premium. Amalgamated Brickworks, 1944, seven and a half per cent., brought £94. Mining. The interest in gold mining shares shows no sign of weakening. Although the price of gold is a little lower in London than it was ten days ago, the search for the precious metal is pursued with greater keenness. The restrictions being imposed by the Government t hen granting new mining leases may be unduly irksome but some check to rash speculation was required to put the industry on a more businesslike footing, and thus give confidence to Investors that the chances of success for well tested enterprises were reasonably good. Sales during the week were mostly

confined to low priced shares in claims | that are preparing to begin work in a i short time. Bell Hooper had numer- 1 ous transfers at up to 1/11, closing firm > with sales at 11. Cornish Points were ! quitted at 6d to 7d. and the shilling paid up scrip brought 124 d. Nokomais are inclined to ease, and are down to 2/10, with sellers at that figure, buyers 2/8. Gillespie’s Beach are not quite as strong as they were, and fell to 2/1 buyers 2/-, sellers 2/3. Mataki’s returns have not been as large as some anticipated, and the shares are at 2/1. King Solomon’s latest return of 1011 ounces kept the price steady at 3/3. Okarito’s recent returns have not been up to the average, the wash not being as rich as usual. Sales were made down to 10/5, which is near the closing price for buyers and sellers. Waihis kept in the vicinity of 26/-, with sales up to 26/5. Grand Junctions remain about 4/-. Alexanders are a little better at 16/3 for contribs. Blackwaters are lower at 33/-. Australian Mining. Copper continues to decline, and with it Mount Lyell shares move downward. Sales were made from 24/- to 23/-, sellers staying in at the latter figure, buyers twopence less. Electrolytic Zinc profits for the past financial year are much better than those of the two previous years. Sales of the ordinary were made at 26/6 to 25/9. The prefs. are better at 34 3 to 35/3. Broken Hill Proprietary 'cum div.) are between 39/- and 40/-. CHRISTCHURCH STOCK EXCHANGE LATEST QUOTATIONS. Special to ** The Herald " CHRISTCHURCH. October 21. The following quotations were current .when the Stock Exchange closed after the morning call: —

SATURDAY S SALES. By Telegraph-Press Association « AUCKLAND, October 21 Sales on ’Change —Bank of New Zealand 45'6. 45/74, Union Bank £lO 6s National Insurance 18/5, South British Insurance 74/-, Farmers’ Co-op Association 56/-, Westport Coal 13/9 Auckland Gas 23 6, Dunlop Rubber 18/10, New Zealand Paper Mills 28 "3 Gillespie’s Beach 2/1, Kildare 2,34. ’ Unofficial.—New Zealand Perpetual Forests 46 6, Snowy River 4d. CHRISTCHURCH. October 21. Sales on ’Change.—Commercial Bank of Australia (pref.) £9 15s. New Zealand Refrigerating (10/- paid) 9/4 (3) Bell-Hooper (9d paid) 1/1, King Solomon 3/3 <2>, Waitahu 6/3. Sales reported—Goldsbrough Mort. 29. -, Canterbury Frozen Meat £lO 10s. DUNEDIN. October 21. Sales reported.—New Zealand Insurance 54 4, Westport Coal 13/9, Mo6giel Woollen £9 7s 6d, Waitahu 6/6. SYDNEY STOCK EXCHANGE. SMALL FLUCTUATIONS. Ontted Press Association—By Electric Teleg- ih -Copyright SYDNEY, October 21. On the Stock Exchange to-day investment stocks were steady and mining shares quiet, but all fluctuations were small. Quotations—Bonds 3i per cent 1942, £lO3 10s. 4 per cent 1938 £lO4 11s 3d. 1950 £lO5 2s 6d, 1953 £lO5 ss. 1955 £lO5 17s 6d, Associated News pref. 20 6. Colonial Sugar £6l 17s 6d, Bulolo 96 '6, Mt. Morgan 47/3, New Guinea Goldfields 6/7. MELBOURNE, October 21. Bonds 31 per cent 1942 £lO3 6s 3d, 4 per cent 1938 £lO4 10s, Commercial Bank of Australia 17/4, 17/5, Broken Hill Proprietary 39'74, Dunlop Perdriau 16/11. SHARES. United Press Association—By Electric Telegraph—Copyright (Received October 22, 6.30 p.m.) LONDON. October 21. P. and O. Deferred Stock, 19/-; New Guinea, 5/44; Mt. Lyell, 18/9. FOREIGN EXCHANGES. British Official Wireless RUGBY, October 19. Par.

PRICE OF GOLD. British Official Wireless RUGBY. October 20.

METALS. United Press Association —By Electric Telegraph— Copyright (Received October 22, 6.30 p.m ) LONDON, October 20. Copper—Spot £32 15/-. forward £32 18 14. Electrolytic, spot £36. forward ! £37. Wire bars. £37. best selected £35 12,6; American 74 cents per lb. Lead —Spot £ll 7 6, forward £ll 13 9. Spelter—Spot £ls 16 3, forward £l6 2,6. Tin —Spot and forward £221/16 3. Silver—Standard 18d, fine 19 7-16 d per ounce. Pig iron—Home trade 62 6. export 52/6. Antimony—British £39/10/-, foreign £22 17/6. Molybdenite—4l /-. Wolfram—26/6. WHEAT. United Press Association—By Eisctrlo Telegraph —Copyright i (Received October 22. 6.30 pm.) LONDON. October 21. | Wheat —Cargoes are firm. Ntnepenoe jto 1/- more Is asked for Manitoba > shipments near at hand. Australian is held for 1 - advance, but for the j new crops late rates are asked Parcels generally are 6h to 1 - dearer, but I buyers are unwilling to follow. | London futures— December 19,8. February 19 11. April 20,5 a quarter. Liverpool futures—October 4 54. December 4 61, March 4 91, May 4 lli per cental.

FROZEN MEAT

LATEST SMITHFIELD PRICES. Cnlted Press Association—B? Electric Telegraph—Copyright (Received October 22. 55 pjn.i LONDON. October 21. The weekly quotations are based oi actual sales of wholesale quantitlea o carcases of mutton or lamb, or o quarters of beef delivered to Smith held market and or London store! They are compiled by the Quotation Committee, Smithfield. To arrive at the equivalent ex sbi values one farthing per pound shoul be deducted from the prices quote above. Quotations given represent th average for the week, and are no selected lines, but for parcels falrl representative of the bulk of ship ments now on offer. Following are the latest quotation for frozen and chilled meat:— New Zealand sheep—Canterbury an North Island selected crossbred weth ers and maiden ewes 481 b to 581 b, 4Jd ewes under 481 b. 3 3-8 d: 481 b to 6411 3 3-8 d; 651 b to 721 b. 3 I-Bd. New Zealand lambs—36lb and undei "id: 371 b to 421 b. 7d; 431 b to 501 b, I 3-Bd. Second quality, average abou 321 b, Td: other South Island brands 361 b and under. 7|d: 371 b to 421 b, 7d 431 b to 501 b, 61d: selected North Is land, including Downs, 361 b and undei 7 5-8 d: 371 b to 421 b, 7 l-8d: 431 b to 501 b 6 3-Bd. Second quality, average abou 321 b. 7d; other North Island brand! first quality, 361 b and under. 71d: 371 to 421 b. 6 7-Bd. Second quality, aver age about 321 b, 6!d. Argentine lambs—First quality, MU and under, 7d. New Zealand frozen beef—Ox fores 1601 b to 2201 b, 25-8 d; ox hinds. 1601 to 2201 b. 3id. Australian frozen beef—Ox crop 1001 b and under, 3ld: ox crops, ovs 1001 b, 31d: ox hinds. 1601 b and undei 3id; over 1601 b, 3 3-Bd. Argentine chilled beef—Ox fore* 1601 b to 2201 b. 3 5-8 d: ox hinds. 1601 to 2201 b. 6 3-Bd. New Zealand pigs—First quality, 601 to 801 b, 6id: 801 b to 1001 b, 6d. Australian pigs—First quality, 60U to 1001 b (average about 801 b), 6 3-8 d others unchanged. ENGLISH MARKETS. Uni tad Pres* Assoclatlon-Br Csctlie Talagraph—Copyright (Received October 21, 650 p.m.) LONDON, October 21. Cotton—Spot 5.51 d, November 5.29* per lb. Rubber—Para 4id plantation smoke* 3 23-32 d per lb. Jute—October-November shipmen £l4 7s 6d a ton. Copra—October-November shipment South Sea £8 15s, plantation Rabat! £9. Linseed oil—£l9 a ton. Turpentine—4B/3 per cwt. y Rabbits—The market is slow. Firs large ex-store 17/6 and 16/-. AUSTRALIAN GLASS COMPANY. Bi raiegrapb- press Assoelafloo WELLINGTON, October 16. The directors of the Australian Qlas Company liave decided to declare I dividend on the preference shares an* an interim dividend of 4 per cent Ct the ordinary shares for the ended September 30 last. The dlvi dend will be payable on December 1 and transfer books will be closed Iron November 17 toi 30. Last year thA Interim dividend on ordinary shares Ras 3 per cent.

Buyer. Seller. £ S. d. £ s. d. N.Z. Govt. Debs.3i p.c. Inscr, 19391943 — 102 0 0 35 D.c. Inscr, 19391952 101 0 0 — 4 p.c. Inscr., 1946 100 10 0 — 4 p.c. Inscr., 1949 100 10 0 — 4 p.c. Inscr., 1955 101 5 0 — 4 p.c. Bonds, 1940 100 2 6 — 4 p.c. Bonds, 1949 100 15 0 — 4 p.c. Bonds, 1955 101 10 0 — Banks— Comm, of Aust. 0 16 10 0 16 11 Comm, of Aust. (pref.) 8 15 0 8 15 6 Comm, of Sydney 17 17 6 17 19 0 E„ S. and A. . . . 5 13 6 5 15 0 National of A’asia (£5 paid, cum div.) 6 14 0 6 17 0 National of N.Z. 4 3 6 — New South Wales 34 2 6 34 7 6 New Zealand . . . 2 5 6 2 6 9 Union of Aust. . . 10 7 0 — Insurance— National 0 18 5 0 19 0 New Zealand . . . a 14 3 2 14 9 Queensland .... a 18 0 — Loan and Agency— Dalgety and Co. . 10 ii 0 ii 2 6 Goldsbrough Mort. 1 8 11 1 9 0 Mutual Benefit . . 9 10 0 12 0 0 National Mortgage “A” 2 14 0 — N.Z. & River Plate 1 4 6 — N.Z. Guarantee Corpn. (cum dlv.) 0 8 3 0 8 6 New Zealand Loan and Mercantile ord. stock) . . 55 0 0 62 0 0 New Zealand Loan and Mercantile (pref. stock) . . 75 0 0 — United Building Society .... 0 17 7 0 18 3 Wright, Stephenson and Co. ord.) 0 10 0 — Shipping— P. and O. Deferred Stock 1 3 9 — Frozen Meat— Canterbury .... 10 7 6 — N.Z. Refrigerating (£1 paid) . . . 0 19 7 1 0 0 N.Z. Refrigerating (10/- paid) . . 0 9 3 0 9 4 Woollens— Kalapoi (17/- pd.) 0 8 0 0 8 6 Kaiapoi (7/- paid) 0 1 .5 0 i 10 Kaiapoi (pref.) . . 0 16 0 0 16 U Coal— Grey Valley .... 0 13 6 0 16 0 Westport 0 13 8 0 13 10 Gas— Christchurch . . . 1 7 0 1 7 9 Christchurch (10/paid) 0 13 0 0 13 3 Wellington (pref.) 1 1 0 1 5 0 Breweries— Carlton 2 0 0 — Monteiths 0 ]0 0 — New Zealand . . . 1 16 0 1 16 9 Staples — 1 9 0 Miscellaneous— Australasian Paper and Pulp . . . 1 11 3 1 13 0 Allied Motors . . . 0 2 6 — Aust. Glass tcum dlv.) 2 ii 3 2 13 0 Amalgamated Wireless (con.) 1 2 0 — Aust. Distillery . . 0 17 6 1 2 6 Beath and Co. 1 7 6 1 9 0 Beath and Co. (1/paid) 0 6 0 0 6 6 Beath and Co. (pref.) 1 3 0 1 5 0 Aust. Iron & Steel (pref.) — 0 19 0 British Tobacco 1 17 4 1 17 6 Burns, Philp . . . — 2 13 6 Broken Hill Proprietary (cum div.) 1 19 0 2 0 0 Anthony Hordern 0 12 9 0 13 0 Colonial Sugar . . 60 0 0 — Dominion Fertiliser . . . 0 13 6 0 14 6 Donaghy's Rope & Twine 2 2 0 — Dunlop Rubber 0 18 8 0 18 a Electrolytic Zinc (ord.) 1 5 3 1 6 0 Electrolytic Zinc (pref. cum div.) 1 14 3 1 15 3 Greater Crystal Palace 1 0 0 Howard Smith . . 0 12 9 0 14 0 Kauri Timber . . 0 13 0 — Mt. Lyell .... 1 2 10 1 3 0 N.Z. Drug Co. . . 3 10 0 — N.Z. F a r m e r s’ Co-op 1st pref. 1 5 0 — N.Z. F a r m e r s’ Co-op. (45 p.c. Stock, 1940) . . 63 0 0 65 10 0 N.Z. F a r m e r s’ Co-op. (4i p.c. Stock. 1945) . . 62 0 0 — N.Z. F a r m e r s’ Fertiliser . . . 0 15 6 — North Canterbury Co-op. Flour . . 0 11 6 0 14 0 N.Z. Newspapers . 1 7 3 1 7 9 Victoria Nvanza Sugar 0 12 6 Willcox Moflln . . 0 9 6 Whltcombe and Tombs 3 fl 6 3 9 0 Wilson’s Cement . 1 7 3 — Minin* — Alexander (13 6 paid) . . 16 3 0 16 10 Nevis Diesel Electrie 0 0 10 0 0 li Aotearoa 0 1 Q Bell Hill .... 0 1 1 0 2 9

Bell Hooper (9d Paid) .... 0 0 11 Bell Kigour . . . Big River .... Central Shotover — 0 1 6 <9d paid) . . . Freshford . . . 0 0 0 10* 0 111 0 51 Gillespie's Beach . 0 2 Golden Point . 0 0 11 Golden Sands . . 0 3 3 6 Kawarau 0 King Solomon . . 0 3 Lawson's Flat . 0 0 4} 0 6§ Mahakipawa . 0 0 n Ditto . . . 0 0 u New Cornish Point (.1/- paid) . . . New Cornish Point 0 1 01 0 i i (6d paid) . . . 0 0 Nokomai .... 0 2 2 10 10 5* Okarito Paddy's Point . 0 0 10 4 4* 0 Waihi (cum div.) 1 6 0 1 W a i h i Grand Junction .... 0 4 0 -

Paris, fr. to £1 .. .. 124.21 80 31-32 New York, dol. to £1 4866 4.541 Montreal, dol. to £1 4.866 4.69$ Brussels, belgas to £1 35 22.73$ Geneva, fr. to £1 .. 22.2215 16.35 Amsterdam, fl. to £1 12.107 7.85$ Milan, lire to £1 .. 8 54 60 3-16 Berlin, reich to £1 .. 20.43 13.29 Stockholm, kr, to £1 18.159 19 40 Copenhagen, kr. to £1 18.159 22.40 Oslo, kr. to £1 . . 18.159 19.90 Vienna, schgs. to £1 34.585 281 Prague, kr. to £1 .. 164.25 106J Helsingfors, marks to £1 193.28 2261 Madrid, pesetas to £1 25.2215 371 Lisbon, escudos to £1 110 105 Athens, drach to £1 375 570 Bucharest. lei to £1 818.6 540 Rio de Janeiro, d. to milreis 4.892 41 Buenos Aires, d. to dol 45.577 431 Monte Video, d. to doL 51 3£\ Bombay, d. to rupee 19 18 3-64 Shanghai, d. to dol. • 151 Hongkong, d. to dol. * 17 Yokohama, d. to yen. 24.58 14 11-32 Warsaw, par zylots to £1 43.36 27.75 Batavia, guilder .. 12.107 7.88 •Determined by price of silver.

Gold (a fine ounce) Is quoted:— £ s. d. October 20 .. .. October 19 .. .. .. 6 9 11 October 18 .. .. .. 6 12 0J October 17 .. .. October 16 .. .. October 14 .. .. October 13 .. .. October 11 .. ..