COMMERCIAL

Timaru Herald, Volume CXXXIX, Issue 20064, 22 March 1935, Page 18

COMMERCIAL

CHRISTCHURCH STOCK j EXCHANGE ( | 1 LATEST QUOTATIONS Special to " The Tlmaru Herald" CHRISTCHURCH, March 21. The following quotations were ruling ( when the Stock Exchange closed for , th? day:— Buyers. Sellers. • £ s. d. £ s. d.

Australia) ... 6 13 0 8 0 0 YESTERDAY S SALES By Telegraph—Press Association AUCKLAND. March 21. Sales on Change—Stock, 1946, 4 per cent., £lO6/2/6; Auckland Harbour Board. 1949. 41 per cent., £lO6/15/0; Bank of N.Z. (D pref.), 32/6; N.Z. Insurance, 68/9 (2); South British Insurance, 75/6; Wright Stephenson (pref.*, 19/2, 19/6: N.Z. Newspapers. 31/- <2»; Wilson’s Cement, 34/-; Waihi. 40/3 (2); Nevis Diesel 21d, Skippers, sd. Unofficial list—Renown Collieries, 1954, 6 per cent., £lOl. CHRISTCHURCH, March 21. Unlisted Stocks—Argo Gold, 1/4s, Barrytown, 23/3; Woolworths (Sydney) ord. cum div., 86/6; (2). Sales on Change—Commercial Bank of Australasia, 15/11; Goldsbrough Mort., 27/1; N.Z. Refrigerating (£1 paid) 18/10; Westport Stockton Coal (ord.>, 1/11 (2); British Tobacco (cum div.), 36 2; Dunlop Rubber, 16/4 (2); 16/6, 16/7 (4); Electro Zinc (ord.), 21/8 (2); Alexander Mines (15/- paid) 17/6, 17/7 (2), 17/9, (3) 17/10, 17/11 (3); Big River, 2/3>-, 2/4 (4); King Solomon, 3/10$ (2); Maori Gully, l/5i (3); Nevis Diesel Electric, 2d; Skippers, 43d. Sales reported—4 per cent, bonds, 1952-55, £lll/2/6; New Zealand Breweries, 51/6; Dominion Fertiliser, 22/-; New Zealand Newspapers, 31/-; Maori Gully, 1/ss; Waihi, 40/3. WELLINGTON. March 21. Sales on Change—Bank of New Zealand (D. mort.) 32 6 <2); Auckland Gas, 27/8; Dominion Fertiliser, 22/-; N.Z. Newspapers. 31/-; Wilson’s Cement, 34/-; Waihi. 40/3. Unofficial list—Woolworths (Sydney), 87/6; Southern Cross Assurance, 1/3. DUNEDIN. March 21. Sales on Change—N.Z. Refrigerating (con.), 8/6; Broken Hill Pty.. £2/9/6. Sales reported—Bruce Woollen (ord.) 14/-; Golden Progress, 4d; Sandhills, 2d. SYDNEY STOCK EXCHANGE United Press Association—By Electric Telegraph—Copyright (Received March 21, 8.33 p.m.) SYDNEY, March 21. On the Stock Exchange the absence of buying support in the investment market was reflected in the continued weakness affecting all classes of shares. A sharp reverse was noticeable in the gold share market, due to the forced selling through the clearing up of financed forward business, also the extreme weakness of the Adelaide market, where the disappearance of margins had resulted in heavy liquidation of speculative accounts. Bear operators took advantage of the situation. Sales: Bank of New South Wales, £3O; Commercial Bank of Sydney, £l6's/-; Colonial Sugar, £4l/15/-; Associated News, 21/7s; ditto (pref.), 22/10$; British Tobacco, 37/-; Tooths, 48/3; Goldsbrough Mort.. 27/3; Winchcombe Carson, 25 9; Henry Jones, 34 9; Electrolytic Zinc, 21/6; ditto (pref.), 33/1$; Anthony Hordern. 17/-; Goodyear (pref.), 33/-; General Industries (pref.), 26/3; Amalgamated Textiles, 9/-; Mount Morgan, 33/9; Broken Hill Proprietary, 48 6; South Broken Hill, 73/6; North Broken Hill, £5/3/-; Zinc Corporation, 29/-; Euratha Gold, 3/2; Rawang Tin, 7/3. Melbourne sales: Commercial Bank, 16ditto (pref.), £9/16/-; Goldsbrough Mort.. 27/6; Nestles (pref.), 38/-; Mt. Lyell, 18/3. GUARANTEE CORPORATION By Telegraph—Press Association WELLINGTON, March 21. The Stock Exchange Association has been advised that the directors of the New Zealand Guarantee Corporation have decided to pay an interim dividend of lsd a share for the half-year ended February 28, 1935. AUSTRALIAN MARKETS United Press Association—By Electric Telegraph—Copyright (Received March 21. 8.20 p.m.' SYDNEY. March 21. Wheat—At country sidings, bagged and bulk, 2/6, equal to about 3/1 and 3/2 ex trucks. Sydney. Flour—£lo/17/6 a ton. Bran—£4/5, 0 a ton. Pollard—£4/10/0 a ton. Potatoes —Tasfnanian, £7,7 0 a ton. Onions—Victorian. Brown. £8 a ton; Globe. £7/10/0. Maize—3/- a bushel. ADELAIDE. March 21. Wheat—Growers’ lots, new season’s, 2/11; old crop. 2/9. Flour—Bakers’ lots, £ll/2/6 a ton. Bran—£s a ton. Pollard—£s/2/6 a ton. Oats—Algerian. 1/10 a bushel. Barley—2/8 a bushel.

HOLME STATION EWE FAIR NO CHANGE IN VALUES There was a very large attendance of farmers at the Holme Station Ewe Fair, which was held yesterday. About 6000 ewes were yarded, several annual drafts coming forward from Otaio Gorge, Maungati and Gordon’s Valley. The sale was an excellent one throughout and was about 1/6 a head in advance of the previous Holme Station sale, and on a par with other sales held during this week. The highest price for two-tooths during the series of ewe fairs was reached yesterday, when a good line of Romney ewes realised from 33/3 to 33/10. As was the case at the Albury Ewe Fair, values showed signs of hardening towards the end of the sale, denoting that many farmers remain unsuited.' It is worth recording that of the ewes yarded fully 1500 were two-tooths. Sales made were:—Best 3-bred twotooth ewes 29/3 to 33/10, medium 24/1 to 27/3; four-tooth Romney ewes to 28/-; small two-tooth ewes 19/6 to 22/-; s.m. 5-bred ewes 17/6 to 19/6; s.m. 3-bred ewes to 17/6; full and failing-mouth 3-bred ewes 9 4 to 13/6; small J-bred s.m. ewes to 12/-; lowconditioned s.m. 1-bred ewes to 13/-; aged ewes 2/- to 7/6; 3-bred ewe lambs 14/3 to 16/2; cull ewe lambs to 10/6: EXPORT OF PIGS COMPETITION FOR SUPPLY The extent to which export buyers of New Zealand pork are prepared to go in their keenness to procure supplies, and the losses which must have been incurred by making payments in rxoess of export parity are reflected in the figures available for the period from June 1, 1934, to February 15, 1935. The figures are taken from the halfmofithly return of the New Zealand Mljit Board, and comparisons have beep drawn between the prices paid on "the hook and the prices realised in I.oadon eight weeks later. These show that during the period 277,490 porkers wefe bought in New Zealand. Of this number about 36,000 were handled by the Co-operative Pig Marketing Association. which receives and sells on consignment against London parity. Th|r price paid to producers on the difference, or approximately 241,500 porkers purchased at the ruling on hook price totalled £95,748 over the parity price. Early in the period the surti of £4.335 was paid under the parity price, leaving about £91.393 paid by purchasers in excess of realisations.

This sum, added to the cost of collecting, estimated at 2/- a pig, or £24,156. brings the aggregate loss up to £115.549. In other words, the producers have received in the neighbourhood of £115.549 more than their produce has realised or is likely to realise on the British market. The high prices ruling for cash sales are attributed to the keen competition existing between combinations of large exporting firms for the supply of pigs.

DAIRY PRODUCE The South Island Dairy Association, Ltd., has received the following market report from the New Zealand Produce Association, Ltd., London:— Butter—Steady, 73/-; Danish, 105/-. Cheese—Steady, White, 45/- to 45/6; Coloured, 46/-. The N.Z. Loan and Mercantile Agency Co., Ltd., have received the following message from their London House, dated March 21:— Butter—72/-, 73/-: very slow. Cheese—4s/-, 46/-: quiet. GOOD MARKET FOR APPLES (Received March 21, 5.5 p.m.) LONDON. March 20. The season’s first arrivals of apples, the Akaroa’s New Zealand cargo, were in good condition and quality, and sold readily:—Worcester, 10/- to 12/-; Alfristons and Gravensteins. 10/- to 11/-; a few Cox’s, 20/- to 30/-. THE POTATO EMBARGO Tasmania, as well as New Zealand, now having an embargo placed on its potatoes by Australia. Tasmania’s Premier said in a recent speech it must now be considered whether Tasmania would not place an embargo on flour from Victoria. Mr Ogilvie stated that the north west coast of Tasmania could now be considered as a suburb of Melbourne. The hotels were stocked with Victorian produce and the women wore dresses made in Melbourne though clothing equally good was made by their own people. Unless they exhibited a different spirit they could not expect to have the same consideration which otherwise might be forthcoming. On the stoppage of the trade in Tasmanian potatoes to Victoria the price jumped £2 a ton to £ll a ton for best. GOLD AND BASE METALS The president of the Australian Mines and Metals Association, Sir Colin Fraser, in an address to members, said that Australian gold production increased by 51.580 fine ounces during 1934 and a further increase was looked for in 1935. The production in 1931 was 288,850 fine ounces less than in 1934. Referring to base metals, Sir Colin Fraser said that the Broken Hill Companies had continued to pay dividends in spite of the low prices for lead and zinc due to the depreciation of the Australian pound and to the rise in the price of silver. Consumption of lead in the United Kingdom had been very heavy and in the last few months records had been made. Copper consumption had increased owing to activity in the electrical building and motor trades. He sounded a note of warning when referring to labour conditions in the gold mining industry. The refusal of the union in Western Australia to accept the award of the court would jeopardise the scheme of compulsory arbitration, and would hinder the flow of much needed capital into an important industry. BULOLO GOLD DREDGING COY. The attorney for the Clutha Development Co.. Ltd., has received the following production report for Bulolo Gold Dredging Coy., Ltd., for February; The gross production from dredges No. 1,2, 3 and 4 amounts to 14.417 ounces of bullion containing 10,022 fine ozs. of gold from 820,000 cubic yards. The estimated working profit is 6861 ozs of fine gold. The production r s estimated at equivalent to £85.187 and working profit at £58,318/10/0 on basis of £B/10 0 Australian currency per fine oz of gold.

N.Z. Govt. Debs.— 5 p.c. Inscr. 1941 102 10 0 — p.c. Inscr., 193740 102 12 6 103 5 0 p.c Inscr., 195255 \ . 110 10 0 p.c. Bonds, 193740 102 15 0 — p.c. Bonds, 195255 Ill 0 0 — Banks— Australasia (cum div.) LI 0 0 — /omm. of Aust. /omm. of Aust. 0 15 8 0 15 il (pref.) 9 12 6 9 17 0 lomm. of Sydney 15 16 0 16 4 0 1, S. and A. . . . — 4 18 6 'Jational of A'asia. (£5 paid) . . . 6 1 6 6 5 6 •rational of N.Z. . 3 6 6 3 8 0 •Tew South Wales 29 12 6 30 0 0 'Jew Zealand . . . 'Tew Zealand (“D” 2 8 0 2 8 9 Mort. shares) . 1 12 3 1 12 6 Reserve 6 10 3 6 11 0 Jnion of Aust. . 8 10 0 8 12 0 Insurance — 'Jew Zealand . . . 3 7 9 3 9 6 Standard — 3 12 0 Loan & Agency— joldsbrough Mort. 16 6 1 7 1 Mutual Benefit . . 5 15 0 National Mortgage (“A”) N.Z. Guarantee 2 10 0 Corporation . . United Building 0 5 9 0 5 11 Society (c. div.) — 1 2 6 Shipping— CJnion (pref.) . . . 17 0 — Frozen Meat— Canterbury (pref.) 5 15 0 — 3ear 1 1 0 1 1 9 North Canterbury Freezing .... N.Z. Refrigerating 10 0 0 (£1 paid) . . . N.Z. Refrigerating 0 18 10 0 18 11 (10/- paid) . . 0 8 0 0 8 5 Southland (contr.) — 1 18 9 Woollens— Bruce 0 14 6 Saiapoi (17/- pd.) 0 14 6 0 15 6 Kaiapoi (7/- pd.) 0 4 9 — •Caiapoi (pref.) . . — 0 17 6 Mosgiel — 12 5 0 Coal — Westport - Stockton (ord.) 0 111 0 2 0 Stockton (pref.) . 0 3 9 0 4 0 Gas— Christchurch . . . 1 15 4 1 16 0 Christchurch (10/paid) 0 17 0 — Auckland (contr.) 1 0 0 — Breweries— Carlton 2 8 6 STew Zealand . . . 2 10 6 2 11 3 Staples ...... — 1 11 6 Timaru — 0 13 0 Timaru (7/6 paid) 0 8 4 0 8 6 Tooheys 17 6 18 0 Tooths 2 7 0 2 8 3 Miscellaneous— Associated Newspapers .... — 12 9 Amalg. Wireless (contr.) .... 1 15 3 1 19 3 Anthony Hordern Aust. Iron & Steel 0 16 8 0 17 0 (pref.) 116 12 6 Beath and Co. (cum div.) . . 1 11 0 1 12 6 British Tobacco (cum div.) . . 1 16 1 1 16 6 Broken Hill Proprietary .... 2 6 9 2 7 11 Claude Neon (Syd.) 2 6 0. 2 7 6 Claude Neon <N.Z.) 2 6 0 2 7 0 Colonial Sugar . . — 41 10 0 D.I.C. (10/- pd.) . 0 14 6 — D.I.C. (pref.) . . . 1 5 0 — Consolidated Brick Dominion Builders 0 9 11 Supplies .... 0 5 0 0 7 6 Dominion Fertil. . Dunlop Perdriau 1 1 9 12 3 Rubber .... 0 16 6 0 16 7 Electrolytic Zinc 118 1 1 9 (ord.) Electrolytic Zinc (pref.) Hays, Ltd. (15/1 12 0 1 13 9 paid) — 0 16 9 Gordon and Gotch 2 2 0 Henry Jones Co-op Howard Smith (c. 1 14 0 1 15 0 div.) — 1 14 9 Hume Pipe (Aust. cum div.) . . . 0 12 6 0 14 6 Mason Struthers (£1 paid) . . . — 0 16 0 Mason Struthers (14/- paid) . . — 0 12 6 New Colosseum . . N.Z. Drug Co. (c. 17 9 1 11 0 div.) 3 19 0 4 0 0 N.Z. Farmer s’ Co-op. (1st pf.) 2 4 0 2 10 0 N.Z. Farmer s’ Co-op. (“B” pf.) 0 15 0 1 10 0 N.Z. Farmer s’ Co-op. <43 p.c. Stock, 1940) . . 82 0 0 83 5 0 N.Z. F a r m e r s’ Co-op. (45 p.c. Stock, 1945) . . 82 0 0 83 5 0 N.Z. F a r m e r s’ Fertiliser .... 0 19 0 10 0 Quill Morris (in (liquidation) . . 0 3 6 0 4 4 Sun Newspapers . 0 4 2 0 4 5 Taranaki Oil . - - T a u p o Totara 0 0 5 Timber (pr., 16s paid) 0 16 0 0 17 9 T a u p o Totara Timber (pref. £1 paid) .... __ 1 3 6 Wool worths (Vic.) (pref.) 1 10 0 Mining— Addison’s Flat . . 0 2 1 0 2 9 Alexander . , . . Alexander (15s 0 17 8 1 0 0 paid) 0 17 6 0 17 10 Bell Hooper . . . 0 0 05 — Bell Kilgour . . . 0 0 Oi 0 0 02 Big River . . . . 0 2 4 0 2 43 Bismarck — 0 16 8 Blackwater .... — 1 12 6 Brian Boru .... 0 0 2 s 0 0 3i Bulolo 8 15 0 9 10 0 Central Shotover . — 0 0 4 Charleston .... — 0 0 £ Deep Lead . . . . 0 1 10 0 2 03 Gillespie’s Beach . 0 1 lb 0 19 Glenroy — Golden Dawn . . — 0 2 6 Golden Point . . 0 0 03 0 0 1 Golden Sands . . Goldfields Dredg0 2 25 0 2 65 ing 0 0 52 0 0 6 Kildare 0 3 3 0 3 6 King Solomon . . 0 3 10 0 3 103 Maori Gully . . - 0 1 53 0 1 63 Lawson’s Flat . . . 0 0 2, Maerewhenua . . 0 0 2 0 0 25 Mahakipawa . . . Mahakipawa (pf.) 0 0 10 0 0 105 0 14 1930 issue . . . — Mining House Con0 0 2 cessions . . . . — Moonlight Nelson Creek — 0 OOi

Mossy Creek . . . 0 2 6 0 2 9 Mount Lyell . . . 0 17 10 0 18 0 Mount Morgan (cum. div.) . . 1 13 3 1 15 3 Nevis Diesel Elec. . 0 0 13 0 0 2 Nokomai 0 1 6 0 2 4 Okarito 0 7 0 0 7 3 Skippers 0 0 41 0 0 5 Upper Shotover (10d paid) . . . — 0 0 4 Waihi 2 0 0 2 0 9 Waitahu — 0 2 5 Worksop Extended 0 2 7 0 2 8 Unlisted Stocks All transactions in stocks quoted in this section are subject to a different rate of brokerage from Listed Stocks. and are not quoted on the Official List. Buyers. Sellers. £ s. d. £ s. d. Assoctd. Motorists Petrol 'pref.) 1 4 6 — Argo Gold .... 0 1 4 0 1 51 Ben Ledi 0 0 41 0 0 6 Barrytown .... 1 3 0 1 3 6 Carbonic Ice . . . — 1 1 0 Canterbury Roller Flour . t . . . — 0 10 0 Ch-Ch. Press . . . 7 0 0 8 10 0 New River i6d pd) — 0 0 6 National Tobacco (pref.) .... 1 13 4 2 0 0 Mount Morgan Development 0 2 0 — Para Rubber (15 - paid) — 0 15 9 E. Reece Ltd. (pf.) 0 2 0 0 2 8 Regent Theatre Building . . . 0 5 1 0 7 a Smith Wylie . . . — 0 10 3 Stacey & Hawker (pref.) .... 1 5 0 — Upper Watut (2 - paid) 0 5 91 0 6 i Warners Ltd. . . . — 7 10 0 Woolworths fSvd.) <ord., cum div.) 4 6 6 4 6 9 Woolworths (West