COMMERCIAL

Timaru Herald, Volume CXXXIX, Issue 20095, 30 April 1935, Page 5

COMMERCIAL

YESTERDAY’S SALES By Telegraph—Press Association AUCKLAND, April 29, Sales on ’Change: Christchurch Transport Board, 1955, 41 per cent., £106; Bank of New Zealand, 50/6, 50/9, 51/-; Reserve Bank, £6/12/6; Guarantee Corporation, 5/55; Wilson’s Cement, 35/-; Golden Dawn, 2/6; Skippers, 2Jd; Waihi, 43/9 (2); Worksop Extended, 2/11. WELLINGTON, April 29. Sales on ’Change: New Zealand Breweries, 54/3 (2); Taupo Totara Timber (ord.), 5/4. CHRISTCHURCH, April 29. Sales on ’Change: Commercial Bank of Australia, 15/9; Bank of New Zealand (cum div.), 51/3; Reserve Bank, £6/13/- (2), £6/13/3; New Zealand Breweries, 54/6, 54/9 (3), 54/10; Dunlop Perdriau Rubber, 17/2 (2); Electrolytic Zinc (pref.), 33/9; Sun Newspapers, 5/-; King Solomon, 4/3, 4/35; Mahakipawa, 8d; Maori Gully, 1/6, 1/7 (3); Mount Lyell, 20/9 (2); Skippers, 3d (2). Sales reported: New Zealand Breweries, 54/6: Tooths Brewery, 50/9; Broken Hill Proprietary, 51/9; Maerewhenua, 3d. Unlisted stocks: Upper Watut (2/paid), 5/4; Woolworths (Sydney) ord., 88/9. DUNEDIN, April 29. Sales on ’Change: Bank of New Zealand, £2/11/- (2); Bendigo Goldlight. 15 (2). Sales reported: Westport Coal, £l/1/6: Maerewhenua, 25d: National Insurance, £l/1/8; New Zealand Paper Mills, £l/14/6 cum div. SYDNEY STOCK EXCHANGE Cnlted Press Association—By Electric Telegraph—Copyright (Received April 29, 8.25 p.m.) SYDNEY, April 29. On the Stock Exchange values firmed and Commercial Bank of Sydney scored a particularly good rise. Brewery issues were solidly supported. Sales: Colonial Sugar, £42/15/-; Bank of New South Wales, £3l; Commercial Bank of Sydney, £l7/10/-; South British Insurance,! £5/0/6; Associated News (ord.), 23/3; Australian Gas (A), £B/2/-; British Tobacco, 39/9; Tooths, 52/6; Tooheys, 29/45; Carlton Brewery, 49/6; Goldsbrough Mort., 30/9; Morris Hedstrom. 19/-; David Jones, 40/6; Anthony Hordern. 18/-; Lustre Hosiery, 26/3; Standard Cement, 20/6; Australian Iron and Steel (pref.). 23/75; Mt. Morgan, 36/105; Broken Hill Proprietary, 52/3; Broken Hill South, 82/6; Bulolo Deposits, 91d; Placer Development, £27/4/-. Melbourne sales: National Bank (£5 paid), £6/4/-; ditto (£lO paid), £l2/16/-; Australian Iron and Steel (pref.), 23/8; British Tobacco. 39/-; Electrolytic Zinc, 24/9: Zinc Corporation, 35/-; Mt. Morgan, 36/6. MINING RETURNS By Telegraph—Press Association DUNEDIN. April 29. Gillespie’s Beach reports that the wash-up for last week totalled 18oz 14dwt. DIVIDEND DECLARED By Telegraph—Press Association DUNEDIN. April 29. The directors of the National Insurance Company of New Zealand have declared an interim dividend of 4d a share for the half-year ended March 31, which will be payable on May 15. DUNEDIN BREWERIES The annual report of the directors of Dunedin Breweries and Wilson’s Malt Extract Company states that for the year ending February 28, business was well maintained and compared favourably with that of the preceding year. Land and buildings stand at £18,237/4/6, compared with £16,640/7/6 for the previous year, the increase being due to the erection of a new brewery building. The necessary plant for the new building is now being installed and brewing operations will shortly be commenced. During the year two new hotels owned by the company had been completed one at Beaumont and the other at Ranfurly. These are amongst the most up-to-date country hotels in the Dominion. Hotel properties now stand at £35,960/6/9. After deducting all charges, beer duty, bad debts, allowing for depreciation and making provision for income tax, thei’e is a credit balance of £5415/0/3 which the directors recommend should be allocated as follows: Payment of a dividend at the rate of 6 per cent, per annum, £3,000; transfer to general reserve, £IOOO which will then stand at £4,000; transfer to hotel depi'eciation £736/19/4 which will raise this fund to £3,000; reserve for depreciation of plant and furniture £SOO making this item £1054/11/7. The balance of £l7B 0/11 is carried forward. Goodwill, which originally stood at £6,635, has been entirely eliminated. WAIHI COMPANY’S RETURN The following information has been cabled to the London office of the Waihi Gold Mining Company: For the period ending April 13, comprising 22 crushing days, 17.681 tons of ore were treated for 4,642 fine ounces of gold and 30.125 fine ounces of silver. This includes 1863 tons mined from the Grand Junction area which yielded 429 ounces of gold and 1170 ounces of silver. Development work: No. 2 level Edward lode reef is cut off at 132 ft and we are sinking a winze at 107 ft west. No. 7 level north branch of Martha lode driving west; the next 31 feet assays 6/9 a ton, the reef being 2ft wider. No. 12 level Royal lode. In winzes at 230 feet west the lode was tested at 61 feet down, the width being 4 feet and the assay 11/9 per ton. Work here is stopped. BANKERS AND ECONOMISTS Addressing the Banking Society of the London School of Economics and Political Science (University of London), Professor Gregory said bankers and economists generally contradicted each other, and what they said was disbelieved by the general public. But, if the guardians of deposits and short term investments were to be held up to scorn on every conceivable occasion, they were merely opening the door to Irrational politics of every kind. There were very serious public issues involved. Whatever happened to British banking in future he hoped that its historic names which were living traditions in the city would not be destroyed. He saw no reason why, if banks were nationalised, they should be amalgamated into some new neutral

nondescript kind of institution. Names such as Barclays, Midland, Lloyds, Westminster and and others stood for more than a mere aggregation of ledgers, bank notes and so on. They were the historic tradition in English economic life. PLEASANT POINT SALE FAT SHEEP IMPROVE Owing to the reopening of the freezing works a special fat stock sale was held yesterday afternoon at Pleasant Point saleyards. More than two full races of fat sheep were yarded, the quality of several pens being extra good. Exporters bid freely on lots suitable to their requii-ements, and good butchers’ sheep appreciated by fully 1/- a head. The entry of fat lambs was in the vicinity of 2000 head, on which a full bench of exportei-s bid at rates fully up to schedule. Values were:— Fat ewes, extra good 18/- to 20/1, good 15/- to 17/-, exporters 11/6 to 14/-; fat wethers, best 24/- to 26/-, medium 20/6 to 22/9. Fat lambs, 16/- to 22/10. * — STUD CATTLE SALE WAITERENUI HERD By Telegraph—Press Association HASTINGS, April 29. Approximately 6700 guineas was realised at the fii’st day of the Waiterenut Aberdeen-Angus dispersal sale to-day, when 237 cows and calves were offered. The top price obtained was 280 guineas, while other animals sold up to 180 guineas. The average price was In the vicinity of 30 guineas. The sale attracted considerable interest, buyers being present from all parts of the Dominion and also from Australia. Competition throughout was excellent, with animals of the famous Flower strain selling exceedingly well. Heifers and bulls will be sold tomorrow, when it Is anticipated that further keen competition will be forthcoming. DAIRY PRODUCE The South Island Dairy Association Ltd. has received the following market report from the New Zealand Produce Association Ltd., London:— Butter. —Steady; 76/- to 77/-; Danish 95/-. Cheese.—Quiet; white 44/- to 44/6, coloured 45/6 to 46/-.

CRISTCHURCH STOCK EXCHANGE LATEST QUOTATIONS Special to "The Timaru Herald." CHRISTCHURCH. April 29. The following quotations were ruling when 'the Stock Exchange closed for the day:— Buyers. Sellers.

£ s. d. £ s. d. N.Z. Govt. Debs.3i p.c. Inscr., 193852 107 0 0 — 32 p.c. Inscr., 1941 102 15 0 — 4 p.c. Inscr., 1940 103 15 0 — 4 p.c. Inscr.. 194346 106 10 0 — 4 p.c. Inscr., 195255 111 10 0 — 4 p.c. Bonds, 193740 104 0 0 —

4 p.c. Bonds. 194346 ... . 106 10 0 Rural Bonds . . . — ioi Other Debs.— Westport Stockton Coal, 6h p.c.. 1938 — 101 Banks— Adelaide (c. div.) . — 6 Australasia .... 10 10 0 11 Comm, of Aust. 0 15 8 0 lfT Comm, of Aust. <pref.) .... 9 10 0 9 17 Comm, of Sydney 16 10 0 17 5 E., S. and A. . . . 4 15 < 4 19 ( National of A’asia. (£5 paid, cum div.) . . . 6 0 0 r> 4 0 National of N.Z. 3 6 6 3 11 0 New South Wales (cum div.) . 30 10 0 31 0 0 New Zealand (cum div.) 2 11 0 2 11 6 New Zealand CD” Mort. shares, c. div.) 1 12 0 2 0 0 Reserve .... 6 13 3 6 14 6 Union of Aust . . 8 10 6 *8 15 0 Insurance— A.P.A 1 1 9 National 1 1 0 1 1 6 Standard — 3 12 0 Loan & Agency— Dalgety and Co. (c. div.) 8 0 0 8 15 0 Goldsbrough Mort. 1 10 0 1 10 11 Mutual Benefit . . — 15 15 0 N.Z. Guarantee Corporation . . 0 5 4 0 5 11 United Building Society .... 1 1 0 1 2 Shipping— Union (pref.) . . . — 1 7 Frozen Meat— Canterbury (ord.) — 10 0 ( Gear — 1 1 fc N.Z. Refrigerating (10/- paid) . . 0 8 5 0 9 2 Woollens— Kaiapoi (17/- pd.) — 0 15 6 Kaiapoi (7/- paid) 0 5 0 — Kaiapoi (pref.) . . 0 17 6 Coal— Stockton (pref.) . — 0 5 0 Westport 1 1 0 — Gas— Christchurch . . . 1 15 6 — Christchurch (10/paid) 0 17 9 — Timaru 0 19 0 — Breweries— Carlton 2 7 6 2 9 3 Staples 1 12. 6 1 15 0 New Zealand . . . 2 14 9 2 15 0 Timaru (7/6 paid) 0 8 i 0 8 4 Tooths 2 10 « 2 11 3 Miscellaneous — Amalgtd. Wireless (contr.) .... 1 15 0 2 2 6 Anthonv Hordern 0 17 6 0 18 6 Australian Glass . 2 17 3 — Aust. Iron & Steel (pref.) .... 1 3 0 1 3 8 Beath and Co. . . 1 10 0 1 ii 0 British Tobacco . 1 18 1 1 18 6 Broken Hill Proprietary . . 2 11 0 2 11 10 Colonial Sugar . . 42 5 0 43 0 0 Dom. Fertiliser . . 1 2 3 — Dunlop Perdriau Rubber .... 0 17 0 0 17 Electrolytic Zinc (ord.) 1 3 6 — Electrolytic Zinc (pref.) .... 1 13 8 1 13 Kauri Timber . . . 0 18 9 0 19 6 N.Z. F a r m e r s’ Co-op. (1st pf.) 2 10 0 — N.Z. F a r m e r s’ Co-op. (“A” pf.) 1 0 0 — N.Z. F a r m e r s’ Co-op. (41 p.c. Stock, 1940) . . 81 10 0 83 0 0 Sun Newspapers . 0 5 0 0 5 6 Victoria N y a n z a Sugar 0 5 0 — Woolworths (N.Z.) (ord.) 10 10 0 11 4 0 Woolworths (N.Z.) (pref.) 2 0 9 2 1 6 Mining— Alexander (c. div.) — 0 19 Alexander (15s pd, ex div.) .... — 0 16 Bell Hooper . . . 0 0 0* — Bendigo Goldlights — 0 1 b Big River 0 2 2 0 2 6 Brian Born .... 0 0 34 0 0 5 Central Shotover 0 0 1 0 0 3 Euratha 1 3 6 0 4 3 Gillespie's Beach . 0 1 4 0 1 7 Golden Dawn . . . 0 2 0 0 3 0 Golden Sands . . 0 2 3 — Goldfields Dredglng 0 0 4 — Kildare 0 3 2 0 3 6 King Solomon . . 0 4 35 0 4 45 Lawson's Flat . . 0 0 4 0 0 8 Maerewhenur. . . 0 0 25 — Mahakipawa . . 0 0 7 0 0 8 h Mahakipawa (pf.> 1930 issue . . . — 0 i 3 Maori Gully . . . 0 i 6 0 1 65 Mount Lvell . . . 1 0 9 1 1 0 Mount Morgan . . 1 16 3 1 17 0 Mossv Creek . . . 0 2 8 0 3 0 Nevis Diesel Elec. 0 0 1 0 0 2 Nokomai 0 1 9 0 3 6 Okarito 0 5 6 0 6 0 Skippers 0 0 3 0 0 31 Stafford Sluicing . — 0 1 0 Waihi 2 3 6 2 4 0 Grand Junction 0 4 0 0 4 9 Waitahu 0 3 0 0 4 0 Worksop Extended 0 2 8 0 3 C Unlisted Stocks All transactions in stocks quoted in this section arc subject to a different rate of brokerage from Listed Stocks and are not quoted on the Official List.

Buyers. Sellers. s. d. € s. d. Andersons (pref, c. div.) 0 18 0 — Assoctd. Motorists Petrol (pf.) . . 1 3 6 1 6 6 Argo Gold .... 0 i 4 0 i 5 Ben Ledi — 0 0 9 Barrytown .... 0 19 0 — Jones Nevis . . . 0 0 75 0 1 0 Macetown .... — 0 1 3 Regent Theatre Buildings . . . 0 5 0 — Snowv River . . . 0 0 1 — Shirley Golf Links (10/- paid) . . 0 7 6 0 8 9 Temuka Flour . . — 1 2 6 Upper Watut (2/paid) 0 5 4 0 s 5 Woolworths < Syd.) (ord.) 4 8 0 4 9 0 Woolworths (West Australia) . . . 6 0 0 7 0 0