SHARE MARKET

Timaru Herald, Volume CXLIII, Issue 20783, 19 July 1937, Page 14

SHARE MARKET

WEEKLY REVIEW AVERAGE BUSINESS The week’s business on the Stock Exchanges was well up to average and was fairly well spread over most sections. The unsettled state of European affairs has still a very pronounced effect upon the market and the political outlook in Australia makes many investors hesitate before entering into further commitments. A number of the Dominion industrial companies are re-arranging their capital with a view of disposing of their reserves by the creation of new shares, which will reduce the dividend per share but will not materially affect the total distribution made annually. The values of base metals keep fluctuating and this affects numerous industries which are dependent upon them. There are indications that greater stability in prices of the metals is in sight. Gold shares for many weeks have been neglected. Very sound propositions which have been profitable for years have suffered equally with those of doubtful value, but the nervousness regarding the future of gold is not now as great as it was a short time ago. Banking Bank shares were sold on a dull market, which does not seem inclined to include these shares in the list marked for higher prices in the immediate future. Commercial of Australia, cum div., fluctuated between 18/4 and 18/11. National of Australasia, fully paid, made up to £l5. Union Banks, cum div., sold at £lO/14/6. Australasias kept their figure at £l2 10/-. National of New Zealand changed hands at 61/11 to 60/-. New Zealands moved between 43/6 and 44/5, closing at 43/9 to 43/10. New South Wales brought £35/5/- and £35/7/6. Insurance Insurance shares are in good demand and prices are well maintained. The reserves of the companies have been steadily growing of late years and a distribution in some cases is looked for. South British had sales at 96/6 and 97/-. The financial year ends next month and the report is looked forward to with anticipation. New Zealands brought 66/- and 64/3. Nationals brought 18/3, but afterwards eased a little. Standard remain at 59/-. Loan and Agency There is a little more animation in the market for the best of the pastoral shares. Dalgetys brought £lO/2/6 and £lO/4/6. Goldsbrough Morts, sold at 34/8 and 34/9, but rose to buyers at 35/1. New Zealand Guarantee Corporation had sales at 4/11. New Zealand Farmers’ Co-op. Stock, 4J per cent., 1945, sold at £9O/5/-. Dominion Investment and Banking Company’s shares realised 17/-. breweries The rush for brewery shares has slackened, but there is no easing of prices, which rema.' i firm. New Zealand paids sold at up to 51/6 and the contribs. at 36/3. Carltons brought 68/3. Staples were turned over at 51/6. Ballins rose to 15/6 for the 15/- paids. Dominions are steady at 43/6. Tooths are fairly strong at 54/11 to 55/3. Coal There were few sales of coal shares, which are in a little better demand than usual. Westports brought 23/9. Renowns realised 11/6 and 11/9. Pukemiros were transferred at 18/-. Miscellaneous The announcement of a bonus issue of one share for every ten held, together with a dividend of 183 per cent, for the full year, sent G. J. Coles up to £5/10/3, with closing sales at £5/9/6. Woolworths (Sydney) sold down to £6/13/6 after sales at £6/17/6. Woolworths (N.Z.), ex div., brought £5/5/-. Woolworths (S. Africa), a subsidiary of Woolworths, London, sold at 17/3 for the five shillings shares. McKenzies are steady at 79/6. Shillings, Limited, realised 18/6. Dunlop Rubbers brought up to 23/7 and rose to 24/1 on the expectation of a higher dividend Wilson’s Cements are steady at 20/3. Oonaghys Rope and Twine are wanted .it 54/-; a fresh issue of these shares is to be made. New Zealand Farmers’ Fertiliser : -e selling up to 20/10. Hume Pipe (Aust.) had numerous sales up to 20/-. New Zea'and Drugs were t nsferred at 74/3. Colonial Sugars are moving quietly upwards and have reached £47/15/-. Macky Logans had sales up to 23/7. Government Sto-ks and Bonds Although prices are rising for nearly all Issues of Government bonds, sellers are far from plentiful. Prices are gradually moving to a higher level. 3* —’f cents., 1939-43. realised £lO2/7/6 Three and a-half per cent, stock. 1952-57, sold at £9B/5/-. Four per cent, stock, 1943-46, rose to £lO4/5/-. Four per cent, stock, 1946-49, reached its best price for some months at £lO4/10/-. Four per cent, stock and bonds changed hands at £lO4/15/-, Debentures Offerings of local body debentures were not numerous, but the demand is good and prices are firm. Heathcote County Council, 4.1 per cent., 1949, sold at £lO4/5/-. Christchurch City Council, 1939, brought £lOl/10/-. Auckland Harbour Board, 1940, realised £lO2. Mining The outstanding feature of the week was the sharp rise in Barrytowns, a large dredge on the West Coast, from which good returns similar to those gained by the Rimu dredge, are expected. Sales were made at 27/- and one at the last call at 29/9. Martha sold at 15/4. Grand Junctions were a little better at 3/-. Gillespie’s Beach weakened to 1/4. Argo made 1/11. Australian Mining Electrolytic Zinc did not retain all it gained after the increased dividend and bonus were published. After sales at 61/- for the prefs., transfers were made at 59/- to 58/5, closing at 58/6 to 58/9. The ordinary were quitted at 58/6 to 57/9. Mount Lyells followed the movements of the copper market with sales at 42/1 to 43/2, finishing at

42/2 to 42/3. Mount Morgan tended to ease. After opening at 12/1, ex div., sales were made at 11/4 to 11/11. Broken Hill South were done at 11/4 to 11/11. Broken Hill North were sold at 75/6 and 75/-. Broken Hill Proprietary had numerous sales up to 85/-. The annual report is expected to show record profits and a record output. Wellington Alluvials, a subsidiary of Broken Hill Proprietary, sold at 5/4 and 5/8. Rawang Tin made progress and transfers were made at 12/1 to 12/6. HAWKE’S BAY FARMERS’ CO-OP. The Hawke’s Bay Farmers’ Cooperative Association Ltd. reports a net profit of £18,769 for the year ended April 30. The directors report that after making provision for depreciation on buildings .plant, etc., and reserve for income tax, the balance of profit, including £12,250 brought forward, amounts to £31,290. The directors re- | commend the following allocation: To pay a dividend of 6 per cent, on paidup capital, to add £7OOO to the reserve fund, and the balance to be carried forward. The gross profit was £106,988. Expenses were £88.219. The reserve fund on April 30 is shown in the balance-sheet at £61,555.

STOCKS AND SHARES

NEW ZEALAND STOCK EXCHANGES CHRISTCHURCH

DIVIDENDS PAYABLE Worksop Extended, 1 l-5d a

PRICE OF GOLD Doited Press Association—By Electric Telegraph ConrriEht LONDON, July 17. Gold is quoted at £6 19s lid per fine ounce. ENGLISH MARKETS United Press Association—By Electric Telegraph—Copyright LONDON. July 17. Friday’s closing prices were— Cotton —Spot 6.85 d per lb; August delivery 6.66 d. Rubber —Para lOd per lb; plantation smoked 91d. Jute —July-August shipment—£2l 7s 6d a ton. Copra— July-August shipment—Sun dried South Sea, £l5 5s a ton; smoked, £l5 ss; Plantation Rabaul, £lB 2s 6d. Linseed oil—£32 10s a ton. Turpentine—37/- per cwt. Apples—Ne wZealand Stunners, 9/to 10/3. MINING NEWS By Telegraph—Press Association DUNEDIN, July 18. Gillespie’s Beach reports that while the water was low recently the lake outlet was built up and the tunnel Intake repaired. There was no washup. The Murchison Matakl Junction return for the week ended July 15 was 360 z for 126 hours, and 27,000 yards dredged. The Golden Sands return was 26ozs 9 dwts for 25 shifts. The Argo Dredge return was 48ozs for 134 hours and 13,000 yards.

CHRISTCHURCH STOCK EXCHANGE

SATURDAY'S QUOTATIONS Special to " The Timaru Herald ” The following quotations were ruling when the Stock Exchange closed for the day:—

Unlisted Stocks All transactions In stocks quoted tn this section are subject to a different rate of brokerage from Listed Stocks, and are not quoted on the Official List.

Sales on ’Change— £ s. d. 10 Bank New South Wales (2) 35 5 0 100 N Z. Refrlg (10,"paid) 0 9 1 275 Broken Hill Pty (5) .. 4 4 3 100 Dunlop Perdriau .. .. 1 3 7 50 Electro. Zinc (ord., c.d.) .. .. 2 17 10 155 G. J. Coles (c.d. and bonus), <5) 5 9 9 100 Hume Pipe (Aus.) .. .. 1 0 0 200 Mount Morgan (2) .. 0 11 6 Sales Reported— 100 Wilson’s Cement .. 1 0 4 300 Barrytown 1 9 9 Unlisted Stocks— 25 Woolworths (Syd. ord ) G 13 6 100 Woolworths (South Africa) 0 17 3 Reported— 200 Woolwortlis (South Africa) 0 17 0 AUCKLAND Sales on ’Change— £ s. d. Traders’ Finance 0 14 3 G. J. Coles 5 9 6 5 10 0 Mort’s Dock 0 13 6 Taranaki Oil 0 4 9 Woolworths (N.Z.) rights.. 4 4 0 Unofficial List— Woolworths (Syd.) G 14 9 WELLINGTON Sales on ’Change— £ s. d. 0 18 8 Doni. Breweries (2) 2 3 British Tobacco 2 9 11 2 10 0 Broken Hill Ppty. (2) .. .. 4 4 3 Colonial Sugar 47 10 0 Dunlop 1 3 7 N.Z. Guarantee Corp 0 4 11 Wellington Alluvials .. .. 0 5 4 Unofficial List— 6 13 6 6 14 6 DUNEDIN Sales on ’Change— £ S. d. Broken Hill South 2 8 0 Sales Reported— Broken Hill South 2 8 0 Wool worths (Sydney) .. .. 6 13 9

share July 19 Union Bank, 3/- a share, less tax July 28 Commercial Bank, 4/- a share, prefs July 29 Commercial Bank, 4d a share, ord Aug. 20 Smith and Smith, 2J per cent., prefs July 31 N.Z. Insurance, 1/- per share, half-year Aug. 11 Electrolytic Zinc, 9 per cent., ord. and pref Sept. 10 and 6d a share bonus

£ N.Z. Govt. Sio<k— buyers. s. d. Sellers. £ s. d. 31 p.c. Inscribed, 15/3/39-43 . . 102 0 0 — 3i p.c. Inscribed 15/9/39-43 . . . 102 10 0 — 34 p.c. Inscribed 1938-52 and 193952 102 0 0 3S p.c. Inscr., 1941 101 0 0 4 p.c. Inscribed, 1946 104 0 0 — 4 per cent. Bonds, 1946 .... 104 2 6 4 p.c. Bonds, 1955 104 0 0 Rural Bonds, 5 p.c., 15/9/47 102 10 0 — 3 p.c. Inscrib. 1939-41 96 10 1! Company Debs.— N.Z. Refrig. 4i p.c., 1940-45 103 2 6 104 0 0 Banks— Comm, of Aust. (c.d.) 0 18 4 0 18 5 (pf., c. di.) . . 9 8 0 9 10 6 Comm, of Sydney . — 21 17 6 E., S. and A 5 12 6 6 0 6 Natl. of A’asia <£10 paid) . . 14 19 0 15 2 0 Natl. of A’asia (£5 paid) .... 7 9 0 7 11 0 New South Wales 35 2 6 35 7 6 New Zealand . . . 9 3 9 2 3 10 (Mort Shares) — 1 9 0 Insurance— Standard .... — 3 0 0 Loan & AgencyCh.Ch. Building . — 15 0 0 Dalgety 9 17 6 10 7 0 Goldsbrough . . . 1 15 1 1 15 4 N.Z. Guarantee Corporation . . 0 4 10 0 5 0 United Building . 1 2 0 — Shipping— Huddart Parker . — 1 18 6 P. & O, Defe. .ed Stock __ 2 0 0 Union (pf.) . . . . 1 6 0 — Frozen Meat— Canterbury .... 9 15 0 — Gear 0 16 11 — N.Z. Refrigerating (£1 paid) .... 0 19 7 — (10/- paid) . . 0 9 0 0 9 ■ 1 North Canterbury — * 8 0 Woollens— Kaiapoi (17/- pd.) 0 14 4 0 14 6 <7 - paid) . . . 0 5 1 — (pref.) .... 0 17 6 0 17 9 Oamaru ... — 0 19 6 Coal— Westport I 3 8 1 4 0 Stockton 0 2 3 0 2 4 Gas— Auckland 1 1 6 1 1 10 Christchurch . . . 1 7 9 — (contr.) 0 13 3 — Breweries— Dominion ..... 3 0 —- N.Z.D 9 10 1 10 9 New Zealand (con) — 1 16 0 Tooths 2 14 9 - 15 6 .7I.‘ cellaneous - Anthony Hordern () 18 11 0 19 2 Aust. Glass . . . 4 11 6 4 12 9 Beath and Co. 1 1 6 — 1/- paid) . . . 0 1 4 0 1 9 Booth Macdonald (pref.) — 0 9 6 British Tobacco . 2 9 10 2 10 0 Broken Hill Pty. . 4 4 2 4 4 4 Colonial Sugar . . 47 0 0 47 12 6 Consolidated Brick 0 8 7 0 8 11 Dental & Medical 0 11 6 — Dom. Fertiliser . . 1 3 6 1 3 7 Elec. Zinc (ord., c. div.) 9 17 9 9 18 0 (pref., c. div.) . 9 18 6 18 9 Evans Atlas Flour 0 19 0 — G. J. Coles (. div. and bonus) . . 5 9 9 !> 10 0 Gen. Industries 1 0 6 1 0 8 Gordon and Gotch 9 13 0 2 14 0 Hays, Ltd. (cont.) 0 16 1 — Hume Pipe (Aus.) 0 19 11 1 0 1 Kauri Timber . . — 1 3 6 Levland O’Brien . — 1 0 0 Millaquin Sugar . — 2 2 0 Macduffs pf.) . . . 1 5 0 1 5 6 Felt and Textiles . 1 19 7 9 0 0 Morts Dock .... 0 13 4 0 13 8 N.Z.E. Co-op.— (1st pref.) . . . 3 5 6 — ("A” pref.) . . . — 2 15 6 (“B" pref.) . . . — 2 1 0 (44 p.c. stock. 1940 and 1945; . 90 0 0 — N.Z.F. Fertiliser (cum div.) . . . 1 0 8 1 1 2 N.Z. Newspapers . 1 15 9 1 16 9 Quill Morris (1936) — 0 19 0 Shillings Ltd. . . 0 18 3 1 0 0 Taranaki Oil . . . 0 4 7 0 4 10 United Provisions — 0 9 11 Victoria Nyanza . — 0 19 0 Whitcombe and Tombs 3 0 0 — Wilcox Mofflin . . 0 13 7 0 13 9 Wool worths ( I.Z., (ord.) □ 9 6 5 7 6 (Syd. 2nd pf) 1 8 0 1 9 0 (N Z. rights) 4 2 0 — Mining— Alexander . . . — 0 14 0 Argo ....... 0 1 10 0 1 11 Big River .... — 0 1 1 Gillespie’s Beach . 0 1 3 0 1 5 Golden Dawn . . . 0 1 7 0 ' 1 0 Golden Sands . . 0 1 8 0 2 2 Maerewhenua . . 0 0 01 () 0 os Maori Gully .... — 0 0 5 Moonlight Goldfields — 0 0 5 Mossy Creek . . . 0 0 7 — Waihi Investments 0 11 3 0 12 3 Waihi G. Junction — 0 3 2 Waitahu 0 0 6 0 1 6 Worksop Extended (cum div.) . . . 0 1 4 0 1 6 Anst. Mining— Broken Hill South 2 7 4 2 7 9 Mount Lyell .... 2 2 2 2 2 3 Mount Morgan . . 0 11 54 0 11 6 North Broken Hill 3 14 3 3 14 9 Rawang Tin . . . 0 12 9 0 13 0 Sulphide Corpn. . — 0 16 9

Buyers. £ s. d. Sellers £ s. d Assoc. Motorists Petrol (pf.) . . 1 8 9 1 9 5 Ballin’s Breweries (15/- paid) . . . 0 13 7 0 14 6 Grey River <5/paid) 0 5 4 0 o * McKenzie’s Dept. Stores 3 19 3 —• National Tobacco . 2 16 0 n 17 0 New River .... 0 0 61 0 0 84 N.Z. Perp. Forests 2 2 6 2 3 0 Wool worths (Sydney, ord.) . . . 6 13 3 6 14 0 (South Africa) 0 17 2 — —