BUSINESS and FINANCE

Star (Christchurch), Volume LXVI, Issue 20362, 20 July 1934, Page 9

BUSINESS and FINANCE

REVIEW OF COMMERCIAL AFFAIRS

ON ’CHANGE. Only Mining Shares Sold This Morning. *A QUIET CALL. Again this morning, the market on charge was vert- .quiet, no sales being put through except in the tion. . Government bonds had buyers throughout, but sellers kept toff the list entirely. Quotations for Bank of New South Wales improved to £3O 10s buyers, and £3l sellers: but in the same section Commercials showed a further drop to buyers’ offers of 14s lid. Sellers replied at 15s 4d. British Tobacco were in demand at a higher price than recently. Buyers were prepared to pay 36s 9d, but sellers went up to 37s 2d. Goldsbrough Morts were quoted at the same price as yesterday, and offers for Loan and Mercantile (ord. stock) went up 5s to £55. without response from sellers. Yesterday’s fall in N.Z. Breweries continued and buyers came down Is Sd to offers of 41s; sellers staying 2s higher. In mining shares sales were recorded of Lawson's Flat, Bendigo Goldlights at prices close to recent levels. Okarito jumped 3d and Nokomais 2d. Woolworths Sydney (ord) were quoted ex rights to-day and were on offer * at £4, with buyers 20s lower. SALES COMPLETED. The figures in the fino.l column indicate. as compared with last Christchurch sales: t a rise, - a fall, n.c. no change. TERSE O'CLOCK CALL YESTERDAY.

TO-DAY’S QUOTATIONS. Following are to-day's quotations:

Unlisted Stocks. All transactions in stocks quoted in this section are subject to a different rate of brokerage from listed stock and are not quoted on the official list: Buyers. Sellers.

TO-DAY IN AUCKLAND. (Special to the “ Star.”) AUCKLAND, July 20. A feature of the latest trading lias been a further decline in the price of Bank of New Zealand, which changed hands thl» morning at 46s 9d. a drop of 2s in a fortnight. The banking section as a whole was dull, and Commercials were on offer at 15s 5d with no buyers. Insurances continued firm. New Zealands were in demand at 61s 6d, with holders asking Is higher. There was a good inquiry for coal shares, with buyers for most of the listed lines, and Auckland Gas fcont.) shares were a shade easier with sellers at 19s 2d. In Australian issues, British Tobaccos were again wanted at 36s 6d. A buyer came in for Australian Glass at 48s. Broken Hill Proprietary shares had a buyer at 43s 9d. The recent strength of Government stocks was confirmed in a sale of 1940 issue, which have just paid their half-year's interest, at £lO5. OTHER EXCHANGES. Per Press Association. AUCKLAND, July 20. Sales—Skippers, Sd; Northern Steam (con.), Is lid; Nokomai, 3s Old; Robinson Ice Cream, 18s 3d; National Insurance, 19s 6d; Waihi, 31s 9d; N.Z. Breweries (ex div.), 42s 6cl; Bank of New Zealand, 46s 9d; Government stock, 1940, £lO5. DUNEDIN, July 20. Sales on ’Change—New Zealand Breweries. 435; Bendigo Goldlight, 71d. Sales reported—New Zealand Newspapers, 305.; Bendigo Goldlight, 71d. YESTERDAY’S SALES. Auckland. Milne and Choyce (debs.). 18s 6d; N.Z. Newspapers. 30s; Golconda, 3d; Waihi, 31s 9d; Mataki. 2s 3d. Unlisted—Woolworth’s (Syd.) (ord.), £7 17s 6d. Wellington. Late Sales. July 18 —N.Z. Bonds, 4 p.c., 1955, £107: Queensland Insurance, 695; Skippers (5), Bd. Unlisted—Woolworth's (Syd.) (ord.). £7 15s. Sales July 19—Staples Brewery, 28s 6d; N.Z. Drug, 77s 9d: King Solomon, 4s; Mount Lyell, 21s 9d: Nokomai. 3s. Dunedin. Sales Reported—Skippers (July IS), ~ id, 73d; Mount Lyell, 21s lid. CALL AND DIVIDEND LIST.

SYDNEY SALES TO-DAY. United Press Assn. —By Electric Telegraph—Copyright. (Received July 20. 1.45 p.m.) SYDNEY, This Bay. Sales.—Commonwealth Bonds: 1042, £lO4 ,1s; 103$, £lO.l ss; 1041, £107; Associated News, 23 s 7 id; Dunlop Peidriau (pref.). 31s. Yesterday. SYDNEY, July 3!'. On the Stock Exchange to-day pi'ice variations in the miscellaneous industrial list were within narrow limits. A heavy demand occurred for Bulolo Cola and Placer Development shares, prices for which hardened. Banks were neglected. Baler dealings were: Colonial Sugar, £65 Is: .Merc. Mutual Insurance, 235; Associated News, 2is 7id; Adelaide Steam, 25s 6d; Aust. Gas A. £8; British Tobacco, 37s lid; Tooths, 44s 6d; Anthony Hordern, 14s 3d; Drug Houses Aust., 10s 6d; Meggitts, 21s; Electrolytic Zinc, 265; Standard Cement, 17s 9d; Mount Morgan, 25s lid; Mount Lyell, 21s 6d; Bulolo Gold, £8 ss: Placer Development, £25 ss; Kuala Kampar, 16s Od; Larut, 14s; Euratha Gold, 10s lOd. Commonwealth 4 p.c. bonds (1938), £lO5 7s 6d; (1041), £107; (1944), £IOB 2s 6d: (1917), £lO9 12s 6d; (1950), £lll 2s 6d; (1953), £llO 6s 3d: (105-5). £llO 12s 6d; ( 1957), £lll 2s 6<l: (1050), £lll 2s 6d; (1061), £lll 17s 6d. Melbourne Sales. MELBOURNE, July 10. Com. Bank Aust., Us 3d; British Idbacco, 36s load; Goldsbrough Molt Howard Smith, 14s 7d; Dunlop Perdriau. 19s; Mount Lyell, 21s 7&d.

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 accrued interest. In the case of local body issues allowance is also made for 20 per cent interest reduction. PER CENT PER ANNUM. £ s. d. A.P.A. 1 5 0 N.Z. Newspapers 3 6 8 EXCHANGE RATES. (British Official Wireless.) (Received July 20. 3 1.30 a.m.) RUGBY, July 19. London on the cities mentioned: To the £ Par. July 19. July IS. New York _ 0 , (dol.) 4.86 2-3 58 27-32 5S2i-o2

Dollar and Franc. (Received July 2". 10.30 a.vrO LONDON. July 19. The American dollar is quoted at' 5.04 5 to the Pound sterling, and the franc at 76 9-16. Local Dollar Values. Current dollar rxcpapsres. as quoted hv the New Zeeland hanks, are as under: „ , , Roving Selling r'nitod States .... 5.1 a <UJ Canada 5.0 S 4.8 S £1 (New Zealand) is Worth:

CUSTOMS A.S B F.«!SMF.NTS. Patpo or evohnpo-r ruling r*t the announced dntpp o~ departure of tin* vessel*: ■papind are shown in the following table. Thuv ere <*iih«eet tn tion hv flic Custom** r*eo nr trr>e n t when the exart ffnio of departure ?*: land fiinllv declared rates being marked •* Cqnnriiun cj in H«r.«r**r Canada, dols * °5 Tinfl. P.P A., dollars: * ° 1 Wjtinina. Canada dollars 500 V"”lnnc-, Canada, dollars: *-,00 Golden Const. America, dollars: . . *n«*| AUCKI.ANH IOAN PLACED (Special tn the •‘Star.”') AUCKLAND, Tuly 19, The Auckland Citv PounHl has been offered more rrmnev at 31 pp- rent +han it ran lue. said the Town Clerk. Mr T S. Brigham. this morning. when the fort was brnueht under hi*: notire that the Dpvnnpnrt Borough Council raised a loan at 3£ r> ft r cent. «aid to be the cheapest loan ever raided in New Zealand bv snv .boroimh council. Tbe Uitv Council author,ced a loan at i + « last mfpt.' o " to redeem a loan of £S9OO on the Hobson Street baths Applications covering the bill amount were in the hands of the council in advance of the authority to raise the sum. so that, when the authority wa« eiven. the loan became automaticallv fpilv subscribed It is the lowest flat rate for nnv loan the council has raised, and there is plentv more monev offering at the same rate. Clearing Sale. Messrs pyne, Gould, Guinness held a successful clearing sale at T-lororata for the trustees of the late H. A. Parker. The following prices were realised: —Binder £2O. drill £l2, plough £lO, harrows £3 10s, gig £4 3 os. Horses brought from £lO to £26, and sheep £1 each. Cattle sold at ruling rates. 6

Sales on Chancre. 100 A.P.A.. 3 0s 700 Big River, Is Id (2) .... 2100 Charleston, Is 2d (2) -lid .100 Maerewhenua, 7d 3000 Mahaks., 10d (2) 500 Skippers, Sd Sales Reported: 250 N.Z. News.. 30s (2) -3d 2950 Skippers, 8d <3) n.c. 300 Nokomai. 3s n.e. Unlisted Stocks— Sales on Change: 2 5 Woolworths, Syd. (ord.), t7/6 Sales Reported: So Woolworths, Syd. (ord.), £7 14s t7/6 100 Andersens (pref.), 16s .. THIS MORNING'S CALL Sales on Change: 1000 Bendigo Goldli’ts, 7d (2) -ia 500 Ba. weon’s Plat. 4 id fid 100 Mount Lyell, 21s 6d -3d 200 Nokomai, 3s Id, 3s 2d . . t2d 50 Okarito. 8s 3d i 3d 50 Pen. Tin (15s pd.), 22s 9d -

Buyers. Sellers. £ a. d. £ s. d. *T Z. QOVT. STOCK 3J p.c. Inscr., 193843 106 10 0 *» c. Inscr., 193852 106 15 0 31 p.c. Inscr.. 193943 and 1939-52 106 17 6 4 p.c. Inscr.. 1940 105 0 0 4 p.c. Inscr., 1946 106 15 O 4 p.c. Inscr., 1949 107 0 n 4 p.c. Inscr., 1-955 107 2 6 4 p.c. Bonds. 1940 105 5 0 4 p.c. Bonds, 1946 107 0 0 4 p.c. Bonds. 194 9 107 5 0 4 p.c. Bonds, 1955 107 5 0 31 p.c. Inscr, 1941 101 5 0 OTHER DEBENTURES Booth Macdonald, 64 p.c.. 1937 72 0 0 72 15 0 N.Z. Refrig., 64 p.c., 1935 102 0 0 BANKS— Adelaide 5 0 0 Comm. of Aust. (cum div.) 0 14 11 0 15 4 Comm. of Aust. (pref., cum div.) 9 7 6 9 11 0 Comm, of Sydney 1612 6 16 19 0 E., S. and A 5 0 0 Natl. of A’asia. (£10 paid) .... 12 3 0 Natl. of A’asia (£5 paid) 5 16 6 5 IS 0 Natl, of N.Z. (cum div.) 3 15 0 New South Wales 3010 0 31 0 0 New Zealand .... 2 6 3 2 7 1 Union of Aust. (cum div.) .... 9 17 0 INSURANCE A.P.A 0 911 010 1 Xational 0 in 4 0 19 9 Standard 3 4 0 United 10 5 0 LOAN AND AOBNCY Dalgety and Co. . 10 0 0 Goldsbrough Mort 19 3 1 9 10 N.Z. Guarantee . 0 4 4 0 4 6 Mutual Benefit . . 10 10 0 N.Z. I-oan & Merc. (ord. stock) 55 0 0 Permanent Invest. 9 10 0 United Building . 115 117 Wright. Stephenson and Co. (ord.) 0 19 3 Invincible 3 0 0 skipping— New Zealand (pf.) 9 0 0 P. & O. Deferred Stock 119 FROZEN MEAT— Canterbury (ord.) 9 17 6 Clear 1 5 6 1 8 0 N.Z. Refrig. (£1 paid) 0 IS 9 0 19 2 N.Z. Refrigerating (10s paid) . • • • 0 8 5 0 8 7 North Canterbury Freezing 0 10 0 Southland 3 11 9 WOOLLENS— „ Kaiapoi (17s pd.) 0 11 4 Kaiapoi (7s paid) 0 3 0 Mosgiel 10 5 0 COAT.— „ , , Tauplri 0 14 0 Westport 0 19 0 0 19 2 Stockton (ord.) 030 Stockton (pref.) . 0 4 1 0 4 S GAS— Christchurch (cum div.) ' 1 13 0 Christ church (10s paid, cum div.) . 0 15 1 0 la 5 Timaru 1 2 0 BREWERIES— Dunedin 1 5 6 Monteiths 0 15 6 New Zealand .... 2 1 0 2 3 0 Staples 1 S 3 Swan 4 10 0 Tooths 2 4 0 2 4 0 Melbourne Co-op. 1 14 0 1 18 0 MISCELLANEOUS Allied Motors -- 0 2 3 0 3 2 Associated News. 12 0 Australian Glass . 2 9-0 Heath and Co. . . 112 3 Beath and Co. (Is p-aid) 0 10 0 010 G British Tobacco . 1 16 9 1 17 2 Broken Hill Pty. . 2 4 0 2 4 8 Colonial Sugar 64 10 0 65 5 0 D.I.C. (10s paid) 0 15 9 D.I.C. (pref.) 14 3 15 6 Damn. Builders' Supplies 0 5 0 Domin. Fertiliser 018 2 019 0 Dunlop Rubber 018 8 01811 Electrolytic Zinc (ord.. cum div.) 16 3 Electrolytic Zinc (pref.. cum div) 1 13 9 1 13 11 Kauri Timber 0 18 0 0 19 0 Mason Struthers (£1 paid) .... 0150 100 Mason Struthers (10s paid) 0 6 0

Moturoa Oil 9 New Colosseum . X.Z. Drug Co. s N.Z. Malay Rubber N.Z. Malay Rubber (pref.) 1 ?, 6 1 10 Evans Atlas Flour X.Z. Farmers' Coop. (1st pref. j . 1 N.Z. Farmers’ Coop. ( “ A ” pret. ) X.Z. Farmers’ Coop. (4 i p.c. Stk., 1940) S3 X.Z. Farmers’ Coop. (4 2, p.c. Stk., 1945) SI 10 0 X.Z. Newspapers . 1 Rural Bonds .... 103 Victoria Nyanza Sugar 0 Wilson s Cement . \\ oolworths (X.Z.) 15 oolworths (X.Z.) (pref.) 2 1 0 Quill, Morris (in liquidation ) 0 1 0 6 Sun Xewspipers . 0 4 2 0 4 4 MINING Alexander (13s 6d paid) 0 14 6 0 14 11 Aotearoa 0 61 0 1 1 Bell Hill 0 10 Bell Hooper (Is 0 0 0 6 Bell K ilgour .... 0 0 4 i oi Bendigo Goldlights (9d paid) 0 0 61 0 0 Big River 0 1 2 Black water .... T 0 _ 1 13 _v 1 »eep Lead 0 1 6 1 7 Bululo 1 0 9 0 1 1 6 Consolidated .... 0 16 Gillespie’s Beach . 0 1 11 Glenroy 0 1 0 i 0 1 Golden Dawn .... 1 6 G Golden Point .... 0 0 1 0 Golconda ( 1 Od pd.) 0 0 Goldfields Dredging 0 0 0 Golden Sands 0 2 8 Kildare 0 2 King Solomon 0 3 11 0 4 Ki*ala Kainpar . . 0 Lawson’s Flat . . 0 0 41 0 0 0 7 Mahakipawa .... 0 0 10 0 0 10i Mahakipawa (pf.) 1929 issue .... Mahakipawa ( pf.) 1930 issue .... 0 Mataki 0 2 Mining House Concessions 0 0 Mount Lyell .... 1 1 6 Moonlight Nelson Nevis Diesel Electric 0 4 0 0 New Cornish Point (Is paid) . 0 0 10i New Cornish Point (6d paid) 6 Xokomai 0 3 Okarito 0 S 0 over 0 0 101 Rawang Tin .... 0 0 0 Sandhills Gold . . 0 0 1 0 Upper Shotover (9d paid) .... 0 0 Waihi 1 5 Grand Junction . 0 4 1 o 4 Waitahu 0 4 7 Worksop 0 1 4 0 1 S Stafford Sluicing . 0 Skippers 0 0 7i 0 Mossy Creek .... 0 0 Peninsula Tin (15s paid) 1 7 1 2 10 Stafford Dredging (3s paid) .... 0 9

£ s. d. £ s. d. Dominion Life . . 0 1 0 0 3 3 Golconda Holding: . 0 17 0 19 Invest. Exec. Trust (“B” debs, 1st) 303 0 0 Invest. Exec. Trust (“B-” debs., 2nd) 9$ 0 0 New Guinea Gold Exp. (Is paid) .. 0 0 1 0 0 2 National Tobacco . 3 4 9 Pyne and Co. 4 p.c. “B” Perpet. debs. 95 0 0 S-nowv River 0 0 1 0 0 2 Tru-Color Films (12s paid) 1 12 0 Were’s Invest Trust 0 4 6 Woolworths (Vic.) prof 1 6 3 1 7 0 Woolworths »Syd.) ord., ex rizhts .. 3 0 0 4 0 0

Due. 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, tat 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. 9 Electrolytic Zinc—pref., at rate of 8 p.c. per annum and (ord.) at rate of 4 p.c. per annum Sept. 7

Montreal , (dol.) 4.86 2-3 4.9S* 4.985 Paris (fr.) 124.21 76 17-32 76 11-1 6 Brussels (belga) 35 21.621 21.57 Geneva (fr.) 2 5.2 20* 15.47 \oAa Amsterdam (fl.) 12.107 7.435 Milan (lire) 92.46 5S 27-32 58 23-32 Berlin •(marks) 20.43 12.871 1 3.OS Stockholm <kr.) 18.159 19.391 19.391 Copenhagen (k:\ > *18.159 22.391 22.391 Olso (kr.) 18.159 19.901 19.901 Vienna (sell ) 34.585 27 27 Prague (krone) 1645 1215 1215 Helsingfors (f. marks) 193.23 2263 226i? Madrid (pes.) 25.225 365 36 13-16 Lisbon (esc.) 110 11 *'5 11^ Athens (drach.) 375 525t 525t Bucharest (lei) 813.6 503 503 Belgrade , „ (dinars) 276.32 221 221 Rio de Janeiro . (d. to mils.) 5.899 4*t 4 vf Buenos Aires (d. to peso.) 47.62 865t 365t Monte Video (d. to peso.) 51 SSgT 3S ll-16t Batavia (florins) 1 2.11 7.43 7.41 Warsaw (zlopys) 43.3S £.‘6.6Value in pence Par. d. d. d. Bombay (rupee) 18 IS 3-64 18 3-64 Shanghai (dol.) * 16 3—16 16 o—16 Hong Kong (dol.) * 1 7 » Yokohama (yen) 24.58 14} 144 * Pence per local unit. S' Sellers.

€ s. rl. r n Pvdnev 1 0 0 Tn Npw York < 4 dollar*;) .. « 1« 7 Tn Montreal f4 dollars) .... o ifi fi Tn London 0 1G 0 Tn Purlin (lO S mark®) n in 4 Tn Rrnejspls <17 8 hplea) ..... 0 U Hi Tn Paris 3 fnnrs) 0 9 10