COMMERCIAL

Timaru Herald, Volume CXXXX, Issue 20167, 23 July 1935, Page 14

COMMERCIAL

CHRISTCHURCH STOCK EXCHANGE LATEST QUOTATIONS Special to " The Timaru llcrald " CHRISTCHURCH, July 22. The following quotations were ruling when the Stock Exchange closed for

MORTON AND CO., LTD. Auctioneers. Clearing Sale Specialists. Property Salesmen. Valuations (Property, Furniture, etc.), Carefully Made. Ycur Surplus Furniture Realises when Sent to Our Commodious Mart. Cash Advances against Furniture or Purchased. CHIEF AGENTS—United Insurance Coy., Ltd. (Fire, Accident, Motor Cars, etc.). FOR PRIVATE SALE ACCOUNT MRS J. RICHARDS (Who is Leaving Timaru) CIX-ROOMED BUNGALOW, Splendidly Built with nice Sun Porch and every Convenience, all under one roof. Garage, Concrete Paths, Fitted Wardrobes and Cupboards. Situated Wai-iti Avenue. Electric Light and Gas. Area of Section, 29 perches. Govt. Mortgage. PREPARED TO SACRIFICE TEA AND LUNCHEON ROOMS First-class Business. Particulars on Personal Application. MORTON AND CO., LTD. Auctioneers.

DISTINCTIVE TAILORING IT is important when choosing a Suit 1 or Costume or Overcoat to have good cloth and linings; that is well finished and stylishly cut. This we aim at and guarantee. Our prices are keen for Suits from £4 17s 6d to £7 10s. Costumes and Overcoats cut, fitted, 7/6. Skirts Patterns 2/-; Boys' Trousers Patterns 1/6; I sell Cloth. Repairing and Alterations at Bedrock Prices. TERMS STRICTLY CASH. C. DAVIDSON, High Class Tailor, Majestic Buildings, Stafford Street, Timaru. ON ACCOUNT OF DECEASED ESTATE VYfELL-BUILT 7-ROOMED BUNGAVV LOW, with all Modern Conveniences, Lovely High, Sunny Position, in Borough with over Two Acres Land; Cow Byres, Motor Garage, etc. PRICE ONLY £IOOO. Terms Arranged. -Tils Is very suitable for Poultry or larket Garden. Full particulars— RUNCIMAN, PRYOR, LTD. Wentworth Auction Mart 9 Church Street Auctioneers, Land Agents. A

- ' J a YESTERDAYS SALES c Y c l By Telegraph—Press Association g AUCKLAND, July 22. a Sales on 'Change: Bonds, 1940, 4 t per cent., £102; Stock, 1939-43, 35 per s cent., £lO5/5/-; 1940, 4 per cent., £lO2, c £lO2/5/-; Auckland City, 1942, 41 per I cent., £lO3/15/-; Williamson Pictures, e 1933-49, 71 per cent., £7B; National - Bank of New Zealand, 68/9 (3); Bank of New South Wales, £32/5/-; Reserve Bank, £O/9/6; New Zealand Insurance, 67/3; South British Insurance, 98/3; Tom. I. and T . 17/-; North Auckland Farmers (B pref.), 10/-; Renown Collieries, 9/6; National Timber, 14/-; Kaiapoi Woollens (7/- paid), 6/5; ' Dominion Breweries, 15/-; Consolidated Brick, 10/7; Farmers’ Trading, 7/2; - New Zealand Refrigerating (£1 paid), 20/9; Mahakipawa, 55d; Mataki, 1/11; Okarito, 5/10; Mt. Morgan, 37/-. Unofficial list; Auckland Trotting l Club, 1939-44, 61 per cent., £103; Woolworths (Sydney), 94/-; Golden Crown, 7/11. ' WELLINGTON. July 22. 1 Sales on ’Change; Stock, 31 per cent., 1939-52, £IOB/7/6 (2); Christchurch Drainage, 45 per cent., 1964, £IOB/17/6; 1 National Bank of New Zealand, 68/9 (7); Bank of New South Wales, £32 7/6- Bank of New Zealand, 51/6 (2); 1 Union Bank. £9/3/-; National Insurance. 20/9; Gear Meat, 21/-; New Zealand Refrigerating (con.), 9/105, 9/11; Kaiapoi Woollen (con.), 6/6; National Timber, 14/3; Anthony Hordern, 20/-; Broken Hill Proprietary, 59/11, 59/1, : Woolworths (Sydney), 93/- (3), 93/3, 94/-. CHRISTCHURCH, July 22. Sales on 'Change: Goldsbrough Mort, ' 30/1 30/3; New Zealand Refrigerating (£1 paid), 20/10; Anthony Hordern, 20/1; Dunlop Perdriau Rubber, 15/6 (2) 15/7, 15/8 (2); Kauri Timber, 22/2; Brian Boru, 23d, 3d; King Solomon, 3/9 (2); Maori Gully, 1/51 (2); Mount Lyell, 20/-, 20/1. Sales reported: Stock, 4 per cent., 1937-40, £102; Christchurch Drainage Board, 45 per cent., 1964, £IOB/17/6; National Bank of New Zealand. 68/9; Reserve Bank, £6/9/6; Maerewhenua, 2d. DUNEDIN. July 22. Sales on ’Change: Westport Coal, 22/- (3). A.

SYDNEY STOCK EXCHANGE United Press Association—By Electric TeJ^rrsph—Copyright 'Received July 22, 8.45 pm.) SYDNEY, July 22. On the Stock Exchange to-day general Investments commanded strong support. Leading industrials were firm, though Tooths and Broken Hill Proprietary shares eased back slightly. There was a vigorous demand for Goldsbrough Mort. shares, followed by a number of sales at advanced prices. Bales: Bank of New South Wales, £23/17/6; Howard Smith. 16 '6; Huddart Parker, 39/9; British Tobacco, 40/9; Carlton Brewery, 53/9; Australian Iron and Steel (pref.;, 24/75; Australian Glass, 73/6; Dunlop Perdriau, 16/-; Goldsbrough Mort., 30/9; Wilcox Mofflin, 11/11; Morris Hedstrom, 22/3; Greater J. D. Williams, 7/10; Anthony Hordern, 20/3; Lustre (ord.), 28/3; General Industries, 20/9; Mount Morgan, 36/103; Broken Hill Proprietary, 39/6; Broken Hill South, 94/-; Zinc Corporation, 41/9; Kuala Kampar, 12/6; Rawang Tin, 7/7; Placer Development. £32. Melbourne Sales: Commercial Bank of Australia, 17/3; National Bank (£5 paid;, £6 12/-; Dunlop Perdriau, 15/10; G. J. Coles. 62/-; Howard Smith, 16/6; Broken Hill Proprietary, 59/3; Broken Hill South, 93/6; Mt. Morgan. 37/3; Electrolytic Zinc (pref.), 35/103; Zinc Corporation, 41/9; Tongkah Harbour, 32,6. MINING NEWS By Telegraph Press Association AUCKLAND, July 22. The Mataki return for the week was 420 z for 1365 hours’ work. WAIHI GOLD MINING COMPANY The following information has been cabled to London: For the period ending July 6, comprising 22 crushing days, 18,934 tons of ore were crushed, yielding 4656 fine ounces of gold and 33,234 fine ounces of sliver. This includes 1840 tons mined from the Grand Junction area, which yielded 565 ounces of gold and 1381 ounces of silver; also 904 tons of residues from the old Waihi mill site yielding 130 ounces of gold and 2049 ounces of silver. No. 2 level lode, situated at 10ft in Hooper crosscut driving west. The next 31ft assays 26/9 per ton and the next 36ft assays 13/6 per ton. Width of the lode varies from Ift to 3ft. No. 7 level Martha lode, north branch, driving west. The next 47ft in ore of good grade, but too small for sloping. No. 10 level, Ulster lode, sinking winze:—The next 25ft assays 23/3 a ton. Width of lode about 3ft. No. 12 level Edward, driving south: —The next 35ft assays 2/3 a ton. ANGLO PERSIAN OIL COMPANY The accounts of the Anglo Persian Oil Coy. Ltd. for 1934 show a profit of £3,183,200, which is an improvement of £539,200 on that of 1933, Appropriations for extra depreciation require £459,100. The usual preference dividends amount to £1,071,200. leaving £1,659.200 for the ordinary shareholders. The ordinary dividend has been raised from 75 per cent, to 125 per cent., less tax, and will absorb £1,678,100. The directors report that production and sales are increasing, but prices are low. Additional drilling is giving satisfactory results, and the examination of new areas in Iran is proceeding. To conform with the change of name fn the country of operation the title Anglo-Iranian Oil Company has been substituted for the present title. WOOL BY BARTER / Germany would be a good buyer of Australian and New Zealand wool if means could be devised for payment. Until the end of May Germany had imported only 94,000 bales of Australian wool, compared with 414,429 bales in the previous year. Owing to the difficulty of arranging external credits, German buyers have been compelled to curtail operations. Several efforts have been made for the exchange of German manufactures for Australian wool, but the tariff has barred progress in this direction. Another effort is being made to barter German iron and steel for wool. A German commercial agent is prepared to buy £3,000,000 worth ol wool on this basis. An assurance has been given that the manufactured articles will be of a class not made in Australia, nor will they compete with British products, but will affect imports from the United States and other countries. Trade by barter is in operation between a few countries, but the business Is difficult to conduct. Once a product has been sold conditionally, the process of maintaining conditional ownership until possession is obtained of the goods in exchange may be troublesome and expensive. Obviously such a transaction depends wholly upon the security offered by the prospective purchaser and probably it will be on this point that German wool buyers will experience difficulty in satisfying Australian wool owners. FOREIGN EXCHANGE RATES The Bank of New South Wales. Christchurch, quoted the following rates as ruling yesterday for its sales and purchases of foreign exchanges. All rates are subject to alteration without notice:— Buying. Selling.

OVERSEAS United Press Association—By Electric Telegrapb—Oopvrlßht SYDNEY, July 22. Arrived.—Huia, from Auckland. MELBOURNE, July 22. Arrived.—Wairuna, from Dunedin. MAIL NOTICES Subject to any necessary alteration mails will close at the Chief Post Office. Timaru, as under:— Registered letter mails close one hour earlier than ordinary letter mails. Late fee box at the railway station cleared at due time arrival of express trains. For North Island Offices of New Zealand: Mondays 1 p.m., Tuesdays to Saturdays 3.30 p.m. . For Christchurch, North Canterbury and Westland: Daily 6 a.m. and 3.30 p.m. Mondays. Wednesdays and Fridays 1 p.m. Daily (letters only) 7 p.m. For Ashburton: Daily 6 a.m. and 3.30 p.m. Mondays, Wednesdays and Fridays 1 p.m. Tuesdays, Thursdays, and Saturdays 10.45 a.m Saturdays (letters only) 7 p.m. For Temuka: Daily 5 a.m. and 3.30 p.m. Mondays, Wednesdays and Fridays 1 p.m. 'Tuesdays, Thursdays and Saturdays 10.45 a.m. For Geraldine: Daily 5 a.m. and 3.30 p.m. Mondays 3.30 excepted Mondays, Wednesdays and Fridays 1 p.m., Tuesdays, Thursdays and Saturdays 10.45 a.m. For Fairlie, Pleasant Point, Cave, and Albury: Dally 6 a.m. (letters only) 3.15 p.m. Fairlie and Hermitage: Tuesdays. Thursdays and Saturdays 10.45 a.m (letters only). Waimate: Dally 5 a.m., 6 a.m., 10 45 a.m., Wednesdays and Fridays 2.45 p.m. Mondays, Tuesdays, Thursdays and Saturdays 3.30 p.m. Oamaru: Daily 6 a.m. and 10.45 a.m Wednesdays and Fridays 2.45 p.m. Mondays. Tuesdays, Thursdays and Saturdays 3.30 p.m. Daily (letters only) 7 p.m. Dunedin: Dally 10.45 a.m. Mondays. Tuesdays and Thursdays 3.30 p.m., Wednesdays and Fridays 2.45 ' m Daily (letters only) 7 p.m. Invercargill and South Offices: Daily 10.45 a.m. Mondays. Tuesdays and Thursdays 3.30 p.m. Wednesdays and Fridays 2.45 p.m. Saturdays (letters only) 7 p.m. WEDNESDAY. JULY 24 At 3.30 p.m Late Fee 4 p.m. Australian States, South Africa China, Straits Settlements, Egypt Ceylon, India and Norfolk Island; also air-mail correspondence for Great Britain, Ireland, and Continent of Europvia Australia-Singapore-England airmail (due London August 12). per Marama, at Auckland. THURSDAY, JULY 25 At 3.30 p.m. Late Fee 4 p.m. Fiji, Apia, Pago Pago, Hawaiian Islands, Japan; also specially addressed correspondence for Canada, United States. Mexico, West Indies, Great Britain, Ireland and Continent of Europe per Monterey at Auckland. (Due London, August 19.) MONDAY. JULY 29 At 1 p.m. Late fee 1.30 p.m. Great Britain, Ireland and Continent of Europe (specially addressed correspondence only). Central America and South American Western States, via Panama, per Rangitiki at Wellington. (Due London, September 2.) INCOMING OVERSEAS MAILS 23rd July—R.M.S. Makura, from San Francisco. English and American mail. 23rd July.—S.S. James Cook, from Sydney. Australian mail. 24th July S.S. Marama from Svdnev Australian mail, Including English air mail despatched from London, 7th July. 30th July—M.V. Monterey, from Sydney. Australian mail. 2nd August—S.S. Rangitane, from London. English mail. . ■ J. G. NIND. Chief Postmaster. Timaru, July 23, 1935.

the day:— Buyers. Sellers. £ s. d. £ 5. d. N.Z. Govt. Debs.3£ p.c. Inscr., 193852 107 15 0 — 3 k p.c. Inscr., 193952 108 0 0 — 33 p.c. Inscr., 1941 3k p.c. Inscr., 1937102 7 6 — 40 102 0 0 102 7 8 4 p.c. Inscr., 194346 — 108 10 0 4 p.c. Inscr., 194649 109 0 0 — 4 p.c. Inscr., 195255 112 0 0 — 4 p.c. Bonds, 193740 102 0 0 — 4 p.c. Bonds, 194649 109 0 0 — 4 p.c. Bonds, 195255 112 5 0 — Rural Bonds . . . 105 10 0 108 0 0 Other Debs.— Booth, Macdonald, p.c., 1937 . . Gisborne Sheep63 10 0 — farmers, 6k p.c., 1941 102 10 0 103 0 0 Glaxo, 6k p.c., 1945 102 5 0 — Banks— Comm, of Aust. (cum div.) . . . 0 16 11 0 17 0 Comm, of Aust. (pref., c. div.) . — 9 19 0 Comm, of Sydney 18 0 0 18 12 6 E., S. and A. . . National of A’asia 5 4 0 5 5 0 (£10 paid) . . . 12 19 0 — National of A’asia (£5 paid) . . . 6 9 0 6 11 0 National of N.Z. . 3 8 0 3 11 0 New South Wales 32 0 0 32 10 0 New Zealand . . . New Zealand (“D” 2 11 1 2 ii 6 Mort. shares . . — 1 13 0 Reserve Union of Aust. (c. 6 9 3 6 9 9 div.) 9 0 0 9 5 0 Insurance— A.P.A i 1 9 1 2 9 National 1 0 8 1 1 0 Loan & Agency— Dalgety and Co. . 8 4 6 8 6 0 Goldsbrough Mort. 1 10 2 1 10 6 Mutual Benefit . . N.Z. Loan & Merc. 14 10 0 (ord. stock) . . — 43 0 0 Permanent Investment (c. div.) . United Building 9 0 0 - Society .... 1 3 3 1 4 3 Wright Stephenson and Co. (ord.) . — 1 0 0 Wright Stephenson and Co. (pref.) — 1 1 0 Perp. Trustees . . 3 6 6 3 15 0 Shipping— New Zealand . . . 10 0 0 Union (pref.) . . 1 7 1 Frozen Meat — N.Z. Refrigerating (£1 paid) . . . N.Z. Refrigerating - 1 1 0 (10/- paid) . . 0 9 10 0 9 ii Woollens— Bruce 0 13 0 Kaiapoi (7/- paid) 0 6 3 0 6 7 Kaiapoi (pref.) . . 0 19 1 0 19 8 Mosgiel — 12 0 0 Coal— Westport 1 1 0 _ Stockton (ord.) . . 0 1 4 — Stockton (pref.) . 0 3 0 0 3 9 Gas— Christchurch (cum div.) 1 16 0 1 16 6 Christchurch (10/paid, c._div.) . . 0 17 0 0 17 6 Breweries— Dominion .... 0 14 9 New Zealand . . . 2 13 0 2 13 6 Staples (c. div.) . 1 13 6 1 15 0 Timaru 0 12 0 — Timaru (7/6 paid) 0 9 0 0 9 1 Tooths — 2 15 0

Mltiifllant-otse-Allied Mt faffs r> 1 f) 0 3 a AinalB't.d Wireless (cr/ritr ) 1 18 f, 2 fl 0 1 Anthony Htff6+rn • 0 1 i 0 2 I AutilruUton ( rlax«; .8 i r 0 '4 12 6 Aunt. iron to. steel <[) TP.f ) • 4 % 1 4 8 Heath Ftnrl Co l if) f) J ./ 0 Heath and Co. <1/ paid; 0 i b * Srltlah 7ob*cc/> i 19 9 2 0 i Broken (fill fropr jetary 2 18 6 2 19 0 G. •/ Coles 3 0 0 — O 1 ft II fl K 1 T e r, t, 'New Zealand; 2 i 0 2 3 3 Claude N e o n (Sydney) . - 2 1 0 2 32 6 Colonial Bugar 44 2 0 44 10 o|) Dominion Builders’ Supplies (e. div.) — 0 8 « Dom. Fertiliser — 1 5 0 1 Dunlop Perdiiau Rubber . . . 0 15 3 0 15 9 I Electrolytic Zinc (pref.) i 15 6 1 15 9 : Greater Crystal Palace ... — 0 12 4 ! Henry Jones i Co-op — 1 17 6 Hay's, Ltd. (15/paid) 0 16 6 0 19 0 Howard Smith . . 0 15 6 0 16 9 Kauri Timber . . 1 2 1 1 2 2 Morris Hedstrom 1 1 3 — National Electric . 0 11 7 0 14 0 Manawatu Knitting Mills . . . 1 16 6 1 18 0 N.Z. F a r m e r s’ Co-op. (1st pf.) 3 0 0 3 10 0 N.Z. F a r rn e r s’ Co-op. (“A”pf) i 10 0 — N.Z. F a r m e r s’ Co-op. (“B” pf.) 1 10 0 — N.Z. F a r m e r s‘ Co-op. (42 p.c. Stock, 1940; . . 85 0 0 87 0 0 Quill Morris (in liquidation; . . — 0 4 6 Wilson’s Cement . 1 18 0 1 19 0 Woolworths (Syd.) 2nd pref. . . . 1 6 6 — Woolworths (Vic.) pref — 1 10 0 c Mining— 1 Addison’s Flat . . — 0 2 0 Alexander .... — 0 15 3 Alexander (15s paid) — 0 12 0 Bell Hooper .... n 0 03 — Bendigo Goldlights — 0 1 0 Big River 0 2 0 0 2 2 Brian Boru .... 0 0 23 0 0 34 Central Shotover . 0 0 H — Deep Lead .... 0 1 4 0 1 9 Gillespie’s Beach . 0 1 5 0 1 6 Golden Dawn . . 0 3 1 — Golden Sands . . 0 2 6 0 2 9 Goldfields Dredging ..... 0 0 23 0 0 31 King Solomon . . 0 3 9 0 3 10 1 Lawson’s Flat . . 0 0 3$ 0 0 Maerewhenua . . . 0 0 14 0 0 2 Mahakipawa . . . 0 0 5 0 0 6 Mahakipawa (pref. 1929 isue) . . — 0 1 0 Maori Gully .... 0 1 41 0 1 52 Mataki 0 1 10 0 2 0 Mossy Creek (c. div.) — 0 2 6 Mount Lyell . . . 0 19 10 1 0 2 Mount Morgan . . 1 16 6 1 17 0 Okarito .... 0 5 8 0 5 10 Rawang Tin . . . 0 7 2 0 7 3 Skippers 0 0 21 0 0 22 Waihi 17 0 1 19 0 W a i h i Grand i Junction .... 0 4 0 0 4 3 Worksop Extended 0 2 2$ 0 2 52 Waimumu .... 0 0 3 Unlisted Stocks All transactions In stocks quoted in c this section are subject to a different d rate of brokerage from Listed Stocks. a and are not quoted on the Official I List. t Buyers. Sellers. £ 8. d. £ s. d. \nderson’s, Ltd. (pref.) — 1 0 0 Argo Gold .... 0 i 4 0 1 5 Associated Motorists Petrol (pf.) 1 5 6 1 7 6 Ben Ledi .... 0 0 1 0 0 34 Coulls, Somerville and Wilkie . . . — 0 14 9 National Tobacco 3 7 0 — New River (9d pd) 0 0 5 0 0 8 N.Z. Dry Cell and Battery (pf.) — 1 0 0 N.Z. Perpetual Forests 2 6 3 2 11 0 N.Z. Perpetual Forests (4/- paid) 0 10 0 — N.Z. Pulping Mills (£1 paid) . . . — 0 10 0 Proceru B i e a d (10/- paid) . . 2 2 6 2 11 0 Procera Bread (vendor shares) 2 2 6 2 10 0 E. Reece, Ltd (pf.) 0 3 0 — Suckling Bros. . . 7 0 0 9 0 0 Upper Watut (3paid) . . . . 0 4 11 0 5 2 Were’s Investment Trust 0 4 a 0 5 3 Woolworths (Sya.) ord 4 13 3 4 15 0 V Westland Brewerd ies 0 7 10 0 9 10 l 1

London— £ N.Z. to £100 st. T.T. 124 124 10 O.D. 123/10 124 8 ! Australia— £ A. to £100 N.Z. T.T. 101 100 10 O.D. 101 100/10 Fiji— £ F. to £100 N.Z. T.T. 90/7/6 89 O.D. 90/7/6 89 New York— Dol to £1 N.Z. T.T. 4.013 3.91* O.D. 4.G3 3.98i Montreal— Dol. to £1 N.Z. T.T. 4.02 3 981 O.D. 4.03$ 3.982 France — Frcs. to £1 N.Z. T.T. 60.72 89 42 O.D. 61.02 59.47 Germany— Reichmarks to £1 N.Z. T.T. — 9.658 O.D. — 9.663 Italy— Lire to £1 N.Z. T.T. — 4 7.48 O.D. — 47.52 Japan— N.Z. d. to 1 yen T.T. — 17 ij-1 O.D. — — India & Ceylon— N.Z. d. to 1 dol. T.T. 223 22 23-3 O.D. 22} ■:j 21-3 Singapore— N.Z. d. to 1 dol. T.T. 34 9-32 35 3-.: O.D. 34 3-32 35 3-1