STOCKS AND SHARES

Timaru Herald, Volume CXLVI, Issue 21244, 14 January 1939, Page 17

STOCKS AND SHARES

YESTERDAY’S QUOTATIONS

AUSTRALIAN STOCK EXCHANGES

SULPHIDE CORPORATION Unless costs which were rising could be reduced, or metal prices rose considerably the Sulphide Corporation, Ltd., would be forced to close down the Central mine at Broken Hill, was intimated at the annual meeting by the acting' chairman, Sir James Sanderson. “It will probably not pay us to re-open the mine,” he added, because to keep the mine closed down with a view to starting up again, at a later date would cost about £lOOO a week.” At present it had been decided to go on working as economically as conditions permitted, but that decision might have to be revised at any moment. When the Central mine was closed down there would have to be a reorganisation of the corporation. That would certainly entail the repayment of part of the capital, but the directors were confident that satisfactory results would continue to be shown from the operations at Cockle Creek (New South Wales) works. LONDON METALS MARKET

LONDON WHEAT MARKET United Press Association—By Electric Telegraph—Copyright LONDON, January 12 Wheat cargoes are steadier. Parcels are firmer. Futures: London-March 23/115, May 23/10; Liverpool (old contract), March 4/85, May 4/82 (new contract), March 4/5.1, May 4/64, July 4/78. Spot trade is quiet; Australian ex ship 25/-.

PRODUCE MARKETS DUNEDIN By Telegraph—Press Association DUNEDIN, January 13. Prospects of good returns from both wheat and oat crops are very promising. It only requires a spell of fine sunny weather to ensure satisfactory yields. Prices for the coming season’s wheat have now been fixed by the Government. They are on the same basis as those for last season’s wheat. > Little business Is taking place in the oats market. There is no demand from local millers or from merchants in the North Island. The opening price for Algerians is 2/9 a bushel. Merchants are still waiting for the seed market to open. The cutting of chewing’s fescue will commence shortly on some of the light lands’ in Southland, and by the end of the month harvesting should be general. It is reported that the bulk of ryegrass seed in the South Island will be affected by fungus growth. There is a good demand for white clover, and sales have been made for export to England. Isolated sales of ryegrass have also been made for export. The demand for brown top continues slow and there is little inquiry from overseas. BARCLAYS BANK SMALL DECLINE IN NET PROFIT United Press Association—By Electric Telegraph—Copyright LONDON, January 11. Barclays Bank, Ltd. reports a profit of £1,926,458 for 1938, compared with £2,133,825 in 1937. Dividends are unchanged at 10 per cent, on the “A ” shares, and 14 per cent, on the “B ” and ” C ” shares. Martin’s Bank, Ltd. earned a net profit of £872,929 for 1938 compared with £853,566 in 1937. Dividend is 145 per cent., compared with 14 per cent, in the previous year. CHEESE United Press Association—By Electric Telegraph—Copyright Cheese is steady; New Zealand white and coloured 70/-; Australian white 64/6 to 65/-, coloured 65/6 to 66/-. N.Z. REFRIGERATING COMPANY By Telegraph—Press Association CHRISTCHURCH, January 13. The accounts of the New Zealand Refrigerating Company, which will be issued to shareholders about the middle of next week, will show an amount of £85,376/2/10 available for appropriation. including £37,185/8/brought forward from last year. The directors recommend a dividend of 55 per cent, an addition of £12,000 to the Rebuilding Reserve, and carry forward £38,379/1/10.

CHRISTCHURCH Sales on 'Change— Morning Call £ s. d. 200 Taranaki Oilfields (2) • 0 8 10 300 Grey River (3) 0 17 6 Sales Reported— 110 Dalgety and Co 7 13 U 300 Westport-Stockton Coal 0 7 0 Afternoon Call 150 Grey River (3) 0 17 6 Sales Reported— 245 Dalgety and Co. (4) .. 7 13 u AUCKLAND Sales on ’Change— £ s. d. Stock 15/4/46-49 4 per cent (2) 98 0 0 Do. 15/6/52-55 4 per cent. 97 0 0 E.S., and A. Bank 5 6 0 Natl. Bank 01 N.Z 2 8 6 N.Z. Insurance 2 11 3 South British 2 2 0 Auckland Gas 0 19 3 0 19 6 Kauri Timber 1 2 9 Consolidated Brick (2) .. .. 0 8 0 Mort’s Dock 0 15 5 Wilson’s Cement 0 15 10 Placer Development .. .. 3 17 0 WELLINGTON Sales on Change— £ s. d. South British Insce 2 2 0 Woolworths (Syd.) .. .. < ■ 1 2 0 Stock, 1946, 4 per cent. .. 98 7 6 Stock 1949 4 per cent 98 2 6 Stock, 1955 4 per cent 96 7 6 Bank of New Zealand .. .. 2 0 0 Swan Brewery 1 9 6 N.Z. Insce 2 11 3 DUNEDIN bales Reported— £ s. d, Bank of New Zealand .. 1 19 9 Standard Insurance .. .. 2 11 0 Kaitangata Coal 1 6 6 Westport-Stockton (pf|) .. 0 7 0 Placer Developments .. 3 17 0 Bank of New Zealand .. .. 2 0 0

United Press Association—By Telegraph -Copyright Electric (Received January 13, 9.35 p.m.) SYDNEY .January 13. Business on the Stock Exchange today was dull and restricted with practically no change in price levels. Sales: £ s. d. Commercial Bank Australia 0 15 4i 2 6 10 Burns Philp 2 13 0 British Tobacco (pref.).. .. 1 10 9 Australian Glass 5 12 0 2 14 9 Morts Dock 0 15 0 Felt and Textiles 1 12 0 Sargents 16 3 W. Adams 0 15 44 Nestles (pref.) 1 16 0 12 6 Mark Foy 10 0 Meggitts 1 10 6 Gordon and Gotch 2 14 3 Victoria Nyanza 0 12 0 Mt. Lyell (New Zealand Delivery) 17 0 Placer Development .. .. 3 14 0 Emperor 0 10 0 Loloma 10 9 Melbourne Exchange Australian Glass was firmer to-day. but other Industrials are still quiet. Barriers and gold shares are fairly dull. Sales:' £ s. d. Commercial Bank Australia 0 15 3 E.S.A. Bank 4 15 0 National Bank (10/- paid) 0 13 1 G. J. Coles 3 19 9 Australian Glass 5 12 0 Dunlop Perdriau (pref.) .. 1 19 9 Felt and Textiles 1 11 9 Associated Paper and Pulp 1 3 3 Imperial Chemicals (pref.) 1 2 10 Electrolytic Zinc .. .. 2 6 6 Pref Broken Hill Propty. (new) 2 3 9 Broken Hill South 1 6 10

United Press Association—Bv Electric Telegraph—Copyright (Received January 13, 6.30 p.m.) LONDON, January 12. Copper— Jan. 11. Jan. 12. A ton. A ton. £ s. d. £ s d. Standard, spot 43 14 41 42 15 0 Forward . ... 43 19 41 43 1 101 Electrolytic . 48 10 0 47 15 0 to . . . . 49 10 0 48 15 0 Wire bars , . . . 49 10 0 48 15 0 Lead— Spot . . . . 14 16 3 14 10 71 Forward . . . 14 19 41 14 14 41 Spelter — Spot . . . . 13 14 41 13 10 74 Forward . . . 13 18 11 13 15 0 Tin— Spot . . , . . . 217 2 6 216 7 6 Forward . .. . 218 2 6 217 1 3 Silver — Standard, d. per oz.. 205-16 20 d. 3-8 Fine, per oz 20 15.16 22