BUSINESS and FINANCE

Star (Christchurch), Volume LXVI, Issue 20360, 18 July 1934, Page 9

BUSINESS and FINANCE

REVIEW OF COMMERCIAL AFFAIRS

ON ’CHANGE. Upward Tendency, Better Tone Noticeable. WOOLWORTHS’ DISTRIBUTION". In sales recorded this morning there was a slightly upward tendency and a better tone noticeable in investment issues. Mining was quiet and the market generally snowed steadiness. A sale of Woolworths (Sydney) (ord.) was made in the unlisted stocks at £7 6s 6d. There has been an announcement that this company is to make a distribution of capital, and although so far the exact natyre of the distribution is not known, it is generally expected that two shares will be issued for every three held. Government Stock, 1940 (ex div.) had a buyer offering £lO5, which was a rise of 7s 6d on yesterday’s offer. In the banking section. Commercials again had sales at los od, and buyers of E., S. and A. moved to 995, at whicn price 47 shares changed hands. Unions brought £9 1/s, and at the close buyers were offering £9 16s 6d f sellers at £9 19s. Dunlop Rubbers eased from yesterday’s figures, and were quoted at Ids 7d buyers, 18s lid sellers. An improved quotation was made for Mason Struthers. buyers’ offers of 16s 9d being the highest for some time. Sellers asked 20s. In the mining section, sales were fewer than usual. Deep Lead and King Solomons weakened slightly. Mahakipawas were up id to 101 d, Skippers sold at Bd, and Bell Kilgours at 43d. Mount Lyells quotations did not hold yesterday’s level, and closed with buyers at 21s 4d, sellers at 2ls 6d. SALES COMPLETED. The figures in the final column indicate, as compared with last Christchurch sales: t a rise, - a afall, n.c. no change. THESE O'CLOCK CALL YESTERDAY.

TO-DAY’S QUOTATIONS. Following are to-day’s quotations:— Buyers. Sellers.

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. Andersons, Ltd.

TO-DAY IN AUCKLAND. Per Press Association. AUCKLAND, July IS. Bidding revealed a healthy tone at the first call to-day, insurances again being the strongest section. New Zealands were asked for at 61s, South British at 80s and Nationals at 19s 3d. Following yesterday’s sale of Standards at 6»s 3d, sellers dropped out. Bank shares were again dull. A holder of New Zealand accepted 47s 3d for a parcel, after which buyers dropped to 475. Westport Coal wan firm; buyers moved up to 18s 4d, sellers at 19s. New Zealand Breweries were quoted ex div with buyers at 42s 9d, sellers is higher. Sanford shares attracted some attention; buyers advanced their offers for th© ordinary to 2s. Government stocks were again in keen demand, but there were no sellers. Among the unlisted lines, Woolworths (Sydney) changed hands at £7 11s Gd, and buyers were left in at £7 10s. THE NOOK CALL. At noon the market was brisk, and there was a largo turnover at firm values. Farmers’ Trading were in keen demand at an advance of twopence. Quotations closed at 5s li dand 6s. Kauri Timbers were particularly strong, the closing range being between 18s fid and 19s. Union Banks were firm and were still wanted at £9 16s, with holders asking £9 19s Od. There was a foetter inquiry for bank shares generally, nJri 1 , v f !ue » on the weak aide. Onei a were rained 2s fid fnr the first two issues of 31 per cent Government stock, 6s for the other two. OTHER EXCHANGES. AUCKLAND. Per Prfsp Assf-iatlon. „ alec AUCKLAND. July 18. t7T.f 1 ar, l? e, T\ Tradinsf ' 6s ; Consolidated Brick, 7S 9d; A.P.A,, 10s, 10s Id; llf t’ Auckland tins (con.), 19s 3d; Mount Morgan. 265, 25s 9d ■ HoldsMort 23s lid; British Tobacco, 36s 9d; Bank of New Zealand, 47s 3d’ °?a Ban Hv f ? 17 * : Colonial Sugar, £6.» 10s; Harbour, 5J per cent, £lO4 rUHEDIN. c . , DUNEDIN, July IS. «« s re Fo«led—New Zealand Refrigcriitlng (cont.), Ss 6d; New Zealand Breweries (cum div.), 445. After call—King Solomon, 3s lid. Wellington. WELLINGTON, p g. Sales—Queensland Insurance, £;* 9s; \\ oolworths, Ltd., £7 10s; Gillespie's Beach, l.s lid; Skippers. 8d; Colonial £65 I2s - National Tobacco, 64s id, THE PRICE OF GOLD.

(Received July 18, 11.30 a.m.) LONDON, July 17. Hold is quoted at 137 s lid per ounce. Other gold quotations this year have been as follows:

LONDON STOCK EXCHANGE. (Received Julv 18. 12.15 pm.) LONDON, July 17. Banks—Bank of Australasia. £9 2s Gd; New South Wales, £23; Union of Australia, £7 10s (ex div.) ; National of New Zealand, 5Ss Ud; Bank of New Zealand (100 shares), 41s 6d. Loan and Mercantile (4 per cent debs.), £B4 10s; ordinary stock, £4O. SYDNEY SALES TO-DAY. United Press Assn. —By Electric Telegraph—Copyrigh t. (Received Juy IS, 1.45 p.m.) SYDNEY, July 18. Bonds—l 943. £lOl 7s 6d; 1938, £lO5 ss; 1941, £lO6 17s fid; 1944, £lO5 Is 3d; 1947. £lO9 12s Gd; 1955, £llO 12s 6d; National Bank (£5 paid), £5 17s Gd; Bank of Australasia, £li 17s 6d; Anthony Hordern, 14s 3d; Associated New<3, 21s od; Broken Hill Proprietary, 44s Gd; Lustre, 22s 6(1. Yesterday. SYDNEY, July 17. On the Stock Exchange to-dav general industrial securities displayed increased activity round improved levels, but gotd shares, with few exceptions, were inclined to drift. Later dealings were:— Bank New South Wales, £3O 7s 6d: Commercial Bank of Sydney, £l6 19s; Union Bank, £9 16s fid: Bank Australasia, £ll 17s fid; Colonial Sugar, £65 158; United Insurance, £10; Associated News, 21s 7ld, pref. 23s 6d; Australian Has A, £8; British Tobacco, 375; Tooths. 455; Dunlop Perdriau. 19s; Electrolytic Zinc, 26s lid, pref. 345; Farmers, 19s 3d; Lustre Hosiery, 22s 6d; Mount Morgan, 25s 6d; Broken Hill Proprietary, 44s 6d; Rawangr, 95., Commonwealth 4 per cent bonds—--1938, £lO6 6s 3d; 1941, £lO6 17s Gd; 1944, £IOB Is 3d; 1947. £lO9 12s 6d; 1950, £111; 1953, £llO 3s 9d; 1955, £llO 10<=: 1957, £111; 1939, £111; 1961, £lll 17s 6d. Melbourne Sales. MELBOURNE, July 17. Commercial Bank of Sydnev, £l6 16s; Goldsbrough Mort, SOs 6d; British Tobacco, 36s 9d; Metropolitan Has, £l4 YESTERDAY’S SALES. Auckland—New Zealand Inscribed, 4 per cent, 1965, £lO7 ss; Standard insurance, £3 5s 8d; New Zealand Loan and Mercantile, £57; Pukemiro. £1 4s; P. and O. deferred stock, £i ljd; Consolidated Brick, 7s 9d (2); Wilson's Cement, £l 10s; Oolconda, 21d; Skippers, B*d (2). Unlisted: Golconda Holdings, is 7d. Wellington—New Zealand Inscribed, 4 per cent, 1946, £107; New Zealand Inscribed, 4 per cent, 1949, £107; New Zealand Inscribed, 4 per cent, 1955, £lO7 ss; Bank New Zealand, £2 7s Gd; Bank (D mort.), July 16, £l 14s 3d, £l 14s; Goldsbrough Mort, £1 9s Ud, £1 10s Id; Kauri Timber, 18s 7id; Wilson Cement, £1 10s Oid; Woolwortli’s (X.Z.), ord., £5 16s.

Dunedin—Sales reported: Mount Lyell, £1 Is 9d; Goldfields Dredging, 9d; Central Shotover, lOd; Skippers, 71d (2); Goldsbrough Mort, £1 10s 3d.

INTEREST RATES. The return to the Investor on his outlay, based upon the latest dividends, works out as follows on the latest sales. Where Government stocks are included the calculation provides for redemption at maturity and also for accrued interest. In the case of local body Issues allowance is also made for 20 per cent interest reduction. PER CENT PER ANNUM.

CALL AND DIVIDEND LIST.

Dollar and Franc. (Received July is, 11.30 a.m.) LONDON, July 17. The American dollar is quoted at 5 04 k to the pound sterling, and the franc at 76 5-16. Local Dollar Values. Current dollar exenanges. as quoted by the New Zealand banks, are as under: Buying. Selling United States 5.13 4.93 Canada 6.08 4.88 £1 (New Zealand) is Worth:

CUSTOMS ASSESSMENTS. Rates of exchange ruling at the announced dates oT departure of the vessels named are shown in the following table. They are subject to confirmation by the Customs Department when the exact time of departure is learned on arrival of the vessels In New Zealand, finally declared rates being marked *:

SILVER QUOTATIONS. (British Official Wireless.) (Received July 18, 12.30 p.m.) LONDON. July 17. Silver is quoted at 20 7-16 d (spot) and 20 9-16 d (forward).

sale* oa ’CHan*e. £200 Govt, stock, ’49. £107 £200 Govt, stock. '55, £107/2/6 72/6 40 Xatl. of A'asia <£10 pd.), £12 3s 3 .->0 Br. Tobacco, 36 6 ...... 300 Aotearoa, 6d 4 00 Biff River. 1/1 -Id 300 Maerewhenua, 7d 450 Mahak. pref., ’30, 1/10J -id Salas Reported. 100 Comm, of Aost.. 15/5 .. n.c. 440 Whit, and Tombs, 75/73/6 550 Mataki, 2/5, 2/4 . 200 Mount By ell, 22/-, 21/10 t7d 300 Xokomai, 3/3000 Skippers, 8d (4) n.c. THIS MORNING'S CALL. Sales on 'Change. 17 K.S. and A.. 99/ tl ?no rnion Bank. £9/17/- .. ion Ooldabroughs, 30/1 .... 300 .{ Irfili .Gas, 32/6 (2), . . . , • 100 Cli'ctl Gad tcon.). 16/3 . . r.o X 57. Dim*. 77/5 -Id 200 Bell Kilkour, 4S<1 fid 1000 Mahakipawa, lOjd (2) .. Sales Reported. 1500 Skippers. Sd n.c. 100 Comm, of Aust, 16/*> .. n.c. UNLISTED STOCKS. Sale on ’Cbanffe. IVoolworth's (Syd.). ord. £7/6/6 730/6

£ s. d. £ s. ti. VX. GOVT. STOCK31 p.c. Inscr., 193S43 106 12 6 3S p.c. Inscr., 193852 106 15 0 31 p.c. Inscr., 193943 106 15 0 107 10 0 31 pc. Inscr., 193952 106 15 0 107 15 0 4 p.c. Inscr., 1340 105 0 0 4 p.c. Inscr., 1946 106 15 0 4 p.c. Inscr.. 1949 106 17 6 4 p.c. Inscr., 1955 107 0 0 107 10 0 4 p.c. Bonds, 1940 105 5 0 4 p.c. Bonds, 1949 1 f)6 17 6 4 p.c. Bonds, 1955 107 0 0 OTHER DEBENTURES Eastbourne Boro, 41 p.c., 15/12/53 100 0 0 100 15 0 Makcrua Drainage, 6 p.C., 1.8.46 . . 102 0 Booth Macdonald, 61 p.c., 1937 . . 71 10 0 0 X.Z. Refrig., 61 p.c.. 1935 101 0 BANKS— Adelaide 5 0 0 0 Comm. of Aust. (cum div.) .... n 15 0 6 Comm, of Sydney bf. 14 0 16 19 0 E. S. and A Xatl. of A’asla. (£10 paid) .... 12 2 0 Natl. of A’asia (£5 paid) .... 16 Xatl.-of N.Z. (cum div.) 3 G New Zealand .... 7 Union of Aust. . . 9 16 0 INSURANCE— A.P.A 0 10 Mercantile Mutual 1 xational 0 19 6 1 0 0 LOAN AND A3EKCY— Ralgety and Co. . 0 0 Goldsbrough Mort 1 10 1 X.Z. Guarantee 0 4 0 0 United Building Societv 1 right, Stephenson and Co. (ord.) 0 19 3 3HIPPINO— Xevv Zealand (6 p.c., cum pref.) 9 0 0 FROZEN MEAT— canterbury (pf.) 5 1 0 N.7.. HefriK. (£1 X.Z. Refrig. (10.s 0 Southland 3 11 0 WOOLLENS— Kaiapoi (17s pd.) 1 T 1 0 Kaiapoi (7s paid) 0 3 0 Taupiri Westport Stockton (ord.) Stockton (pref.) 0 0 0 4 6 Christchurch (c. div.) Christchurch (10s paid) 0 Timaru 1 2 BREWERIES Dunedin New Zealand (ex div.) Timaru Timaru (7s 6d pd.) 2 4 6 4 8 MISCELLANEOUS Allied Motors Amalg. Wireless (contr.) Anthony Hordern 0 14 Australian Glass Beath and Co. . . Beath and Co. (is paid) 0 10 0 0 6 Bi itish Tobacco 1 Colonial Sugar . . 6 5 0 15 D.I.C. (1 Os paid) D.I.C. (pref.) 1 4 1 Dom. Fertiliser . . 0 Dunlop Rubber 0 IS 7 0 18 11

Electro. Zinc. Cord cum div.) Electro. Zinc (pi.. cum div.) .... Henry Jones Co-op Howard Smith Kauri Timber Mason Struthers ( £1 paid ) Mason. Struthers (10s paid) .... Moturoa Oil .... New Colosseum . . Evans Atlas Flour Consolidated Brick N.Z. Farmers' Cuop. (1st pref.) . 1 12 X.Z. Farmers’ Coop. (4J per cent Stock. 1940) S2 N.Z. Farmers’ Coop. (4* per cent Stock, 1945) SI N.Z.F. Fertiliser (cum div.) .... 1 0 1 6 X.Z. Paper Mills . 10 0 North Canty. Co-op. Flour 0 It 0 16 0 Rural Bonds .... 103 15 0 104 0 Wilson's Cement . 1 10 10 3 Wool worths (X.Z.) ord 15 0 Wool worths (X.Z.) pref 1 0 W oolworths (Sydney) 1st pref. . 1 19 2 0 C Willcox Mofflin . 0 11 12 G Quill, Morris (In liquidation) . . 0 1 Sun Newspapers . 0 4 2 0 4 3 MINING— Addison’s Flat . . 0 G Alexander (Ills Gel paid) 0 1 4 Aotearoa 0 0 Bell Hill 1 9 Bell Hooper (is 0 0 0 0 6 Bell K i 1 fro i»r .... 0 0 4 i 0 u 1 Bendigo Goldlights (9d paid) 0 0 Gi 0 0 S Bip River 0 1 2>, Black water .... 13 0 Brian Boru 0 1 0 1 7 4 Bulolo 13 Beep Bead 1 3 Central Shotover (Is paid) ‘ 0 0 4 0 0 104 Charleston 0 1 1 0 1 3 Consolidated .... 1 0 6 0 1 9 0 1 1) Glenroy 0 1 os 0 1 2 < ’.olden Point .... 0 0 U 0 0 2 Goldfields Uredg0 0 0 0 10 Golden Sands 0 2 8 Hatter's Flat 0 0 7 Kildare 2 2 King Solomon . . 0 3 10 0 3 11 Kuala Kampar . . 0 17 Maerewhenua 0 0 7 0 0 74 Mahakipawa .... 0 0 10 0 o ios M a h a k i p a w a (pref.), 1929 .. 0 1 0 0 2 5 Mount By ell 1 1 4 1 1 6 Mount Morgan 1 ■ 0 1 5 7 Murray Creek 0 2 6 1 5 0 Moonlight Nelson Creek 0 0 6 0 74

Nevis Diesel Electric 0 0 4 0 0 4J New Cornish Point (Is paid) 0 0 9J 0 0 11 New Cornish Point paid) 0 0 31 0 0 6 Xokomai 0 2111 0 .1 0 Okarito 0 8 0 0 8 9 Oxenbridge Shotover (is paid) . 0 0 101 Rawang Tin 0 8 US 0 9 Oj Upper Shotover <9d paid) 0 0 6 AVailii l 11 1) 1 12 3 Grand Junction . 0 4 0 0 4 4 Wait ah u 0 4 3 0 5 0 Worksop Extended 0 14 0 1 fi Skippers 0 0 7i 0 0 8 Stafford Sluicing . 0 15 Mossy Creek .... 017 Peninsula Tin (15s paid) 130 Stafford Sluicing (Ms paid) 0 7 0 0 9 9

(pref.) 0 13 0 0 17 0 Ben Led! (9dpd.) . 0 0 6 Invest. Exec. Trust (“B" debs., 2nd Issue) 90 0 0 94 0 0 Invest. Exec. Trust (“A” debs.) .... 9S 0 0 Hays, Ltd (15s pd.) 0 14 9 Procera Bread (10s paid) 0 13 3 Pyne and Co., 4 p.c. “B” Perpetual .. 95 0 0 Regent Theatre Buildings (Ch'ch) 0 9 0 0 13 0 Snowy River .... 0 0 1 Standard Optical . . 110 0 Vigilant Fire Alarm 0 10 Woolworths (Viet.) pref. 1 6 6 1 7 0 Woolworths (Syd.), ord 7 6 6 7 S 6

S. fl. January 2 127 0 February 5 (official) .. 140 0 March 1 137 1 April 3 135 2 May 1 135 1U June l 137 li July 2 137 10

Govt. Stock. 194 9 £ 9 d. Govt. Stock, 1955 30 British Tobacco .... Comm, of Au.st Whitcomb© and Tombs ... 0 0 9 Union Bank Goldsbrouph Mort 2 Christchurch Gas ... :i 0 N.Z. Drug 17 0

Due. N.Z. Breweries —final. Zh per __ cent July IS National Bank of New Zealand—annual. 4 per cent July 21 N Z. Farmers’ Fertiliser —annual, 5 p.c July 22 Smith and Smith, Dunedin— preference, 5 per cent . . July 31 Union Bank of Australia—final. (at rate in sterling) of 5 per cent per annum .... Aug. 1 Commercial Bank of Australia —final pref. at rate of 4 per cent per annum, ord. at rate of 5 per cent per annum Aug. Electrolytic Zinc—pref., at rate of S p.c. per annum and (ord.) at rate of 4 p.c. per annum Sept.

€ S. d. In New York (4 dollars) . In Montreal (4 dollars) ... In London 0 16 7 0 16 6 0 16 0 0 10 4 0 9 10 0 9 10 in Berlin (10.5 marks) In Brussels (17.3 belga) ... In Paris (61.3 francs)

Canadian Challenger, Canada, dels. 5.05 Tapti, U.S.A., dollars Wairuna, Canada, dollars 5.00 Sydney Maru, Japan, yen 14. 2H Mariposa, Canada, dollars Mariposa, America, dollars Canadian Highlander, Canada, dol. Golden Coast. America, dollars .. Niagara, Canada, dollars Waihemo, Canada, dollars Waihemo, America, dollars .... *5.11