BUSINESS AND FINANCE

Star (Christchurch), Volume LXVI, Issue 20403, 6 September 1934, Page 11

BUSINESS AND FINANCE

REVIEW OF COMMERCIAL AFFAIRS

ON ’CHANGE. Tax-free Stock in Request. MINING IRREGULAR. GOLDSE ROUGH MORT WEAKEN AGAIN. Good business was recorded at the call this morning, and although in some instances, especially among mining scrip, quotations showed an inclination to ease, values generally in the investment sections of the market were again very firm. Bidding was keen throughout. The most notable feature of the Government section was the rise in j offers for tax-free stock, which had j buyers at new high levels of ~109 and £lO9 ss, with no sellers appearing. The 4 per cent stock was unchanged, and [ no sales were made. j Banking shares were still in demand, j but the only business on ’change was j in National of Australasia, £lO paid, j which held yesterday’s good price level, and closed 6d on either side oi £l2 14s. The turnover of 50 shares in this issue was a large one. Reserves were given less attention than yesterday and failed to record sales, quotations showing a margin of Is between £6 8s and £6 9s. The remainder of the section was steady, though there were signs that New South Wales were less keenly sought for, as no buyers came on the market. Nationals again had the only business in the insurance division, maintaining late rates, and Standards had ex-dividend buyers at 66s 3d. A further weakening in Goldsbrough Mort marked the quotations in the wool section, offers being Is lower than at the last call. The scrip was on offer at 30s sd. Westport-Stockton Coal (ordinary) had business in 100 shares at Id lower. The market for brewery scrip had interest in that yesterday’s offer for Swan was raised to 945, still without attracting holders, and that further business in New Zealands was done without change in values. Holders of Tooth’s asked 2d more than yesterday at 45s Sd. A further strengthening in Amalgamated Wireless was a feature of the miscellaneous section, buyers for the fully paid coming on the market at 40s, and for the contributing issue at 30s. There were no sellers lor either. Dunlop Rubber had no business, but the market showed signs of slight easing, with bm-ers at 20s 2d and sellers Id higher. Requests for New Zealand Newspapers were made at 325, but holders were firm Is above that figure. An interesting sale was of United Provisions at 9s 7d, the first for a very long time. In the mining section, Mining House Concessions, which have had heaw transactions in the last few days, harl business on ’change this morning at lower. Goldfields Dredging also slipped fractionally, and Mount Lyell seemed a little easier with business and further sellers at 20s 4d. Nokomai were widely quoted, sellers going up to 9s in answer to offers of lid less: but W orksop Extended were much firmer between Is 10*d and 2s. In the unlisted stocks. Wool worths maintained their improved quotations between 69s and 69s 6d, and the 15s paid shares of Mineral Mercantile Trust were asked for at 17s 6d, which was 2s below holders’ limits. A request for Associated Motorists' Petrol (preference) came in at 18s 6d, without response. SALES COMPLETED. i The figures in the final column indicate. compared with last Christchurch sales: f a rise, - a fall, n.c. no change.

TO-DAY’S QUOTATIONS. Flowing are £ "s. d. £ a. d.

Unlisted Stocks, All transactions in stocks quoted in this section are subject to a different rate of brokerage from listed stocks j and are not quoted on the offeial list. Associated J Motorists Petrol

TO-DAY IN AUCKLAND. (Special to the “Star.") AUCKLAND, September 6. Business keeps up well. with a generally healthy tone. Government stocks are still the chief centre of interest. and a number of sales have been put through with values maintained at this morning’s call. After transactions had been recorded, buyers were still in for all listed lines, but holders stood off, the oniv offering being a parcel of 1955’s at £lll. Bank shaves were steady and the recent easing in Nationals was confirmed in a sale 2s 6d down at 72s 6d. insurances were verv firm with few sellers. In the mining section Waihis were steady between 33-s and 33s 3d. Grand Junctions ranged from 4s 4d to 4s sd, and Matakis had buyers at 2s sd, ellers asking 2s 7d. Timber shares had a fair inquiry, 13s 6d being offered for Bartholomews, 18s for Kauri, 22s 3d for L. 0.8., and 12s for National. OTHER EXCHANGES. Per Press Association. DUNEDIN, September G. Sale on ’Change—Bendigo Goldlight, lid. Reported—Mosgiel Woollen, £lO 15s: Kildare, Is lid: Maerewhenua, s&d, sd: Nokomai, 3s lOd. AUCKLAND, September 6. Sales—Gillespie’s Beach, Is lid; Golden Dawn, 2s Id; New Zealand Refrigerating (con.). Ss lid; Commercial Bank, 15s JKI; National Insurance. 20s; Tooths, 45s 9d; National Bank, 72s 6d; Government Bonds (1946), £lO7 12s 6d: Government stock (1949), £110; (1955), £llO 15s. WELLINGTON, September 6. Sales—Bank of Australasia (cum div.), £ll 14s 6d, £ll 15s: Reserve Bank, £6 9s; N.Z. Guarantee. 4s Sd; Gisborne Gas, 12s 3d; British Tobacco (cum div.), 37s 3d. SYDNEY SALES TO-DAY. United Press Assn.—By Electric Telegraph—Copyright. (Received September 6, 2.45 p.m.) SYDNEY, September 6, Commonwealth 4 p.c. Bonds—l93S, £lO4 7s 6d; 1941, £lO6. Others—Anthony Hordern (preference), 23s 4 id; Associated News, 235: British Tobacco. 37s 7£d: Broken Hill Proprietary, 49s 9d; Dunlop-Ferdriau, 20s 3d; Henry Jones, 33s 6d. INTEREST RATES. The return to the investor on his outlay, based on 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 per cent interest reduction. Prices paid by the investor are given in parentheses. PER CENT PER ANNUM.

YESTERDAY’S SALES. Auckland. N.Z. bonds, 4 p.c.. 1940, £10S; N.Z. inscr., 4 p.c., 1949, £110; Farmers’ Auction (B pref), £1 0s 7d; Ley land. O’Brien, £l. 2s 7id; Consolidated Brick, 10s 6d; Farmers’ Trading, 6s 2?.d; Mahakipawa (1929 pref.). Is 4 id: Mahakipawa (1930 pref.). Is 4d; Mataki, 2s 5 Jd; Mining House Concessions, 4d; Broken Hill Proprietary, £2 9s 9d. Unlisted—El Dorado, £1 2s 6d; Harvey Turbine, £1 3 s 6d; Wool worths (Syd.), £3 9s 3d. £3 9s 6d. Wellington. N.Z. Insurance, £3 4s 3d; Lcyland. O'Brien, £1 2s 9d; Nokomai, 3s lOd. Dunedin. Sale on ’Change—Nokomai, 3s lOd. Sales reported—Dominion Fertiliser, £1; Skippers (September 4), 7id. Sydney Stock Exchange. SYDNEY, September 5. The Stock Exchange markets to-day were steady generally, with much activity in mining shares. Later dealings were;—Bank of New South Wales, £32 ss: Union Bank, £9 10s; Colonial Sugar, £66 12s 6d; Associated News, 235; Aust. Gas A, £7 16s; British Tobacco, 37s 6d; Tooths, 465; A.P.A., 10s sd; Howard Smith, 16s; Dunlop Perdriau, 20s 3d; Wilcox Mofflin, 12s lOd; Morris Hedstrom, 16s 3d; Henry Jones, 33s 3d; Fairymead Sugar, 375; David Jones, 40s 6d; Anthony Hordern, 14s 3d; Automatic Totalisators, 18s 9d; Aust. Iron and Steel (pref.), 23s- Wunderlich, 225; Mount Morgan, 20s 7ld; Broken Hill Propty., 49s 6d: Bulolo Gold, £S 18s; Euratha Gold, 9s 4d. _ , Melbourne Sales. MELBOURNE, September 5. Comm. Bank Aust., 16s Id; Aust. Cement, 23s 4d; British Tobacco, 37s 6d; Aust. Paper, 36s 6d; Electro. Zinc, 2Ss: (pref.). 36s 3d; Mount Lyell, 20s 4id; Taranaki Oil, Is 7d. GALL AND DIVIDEND LIST. DIVIDENDS. Electrolytic Zinc—pref., at rate of 8 per cent per annum and (orrl.) at rate of 4 p.c. per ? Adelaide ’steamship—finai at 6 p.c. per annum &epr. a Huddart-Parker, —Ord., 3 p.c.; pref.. 3 p.c |ept. 13 King Solomon—fifth, 3d a share Sept, lo Broken Hill South—ls Gd per share, payable Melbourne .. Sept lo North Broken Hill—finales Gd og Bank 6 of A*asla —Interim, 3/6 (sterling), less tax 4/6 in £ Sept. 2S Milburn Lime—Final, 5 p.c. . . wept. —- Br. Tobacco —Quarterly, 1 h p.c. sept. 29 N.Z. Drug Co.—lnterim, 3?j p.c. Sept. CALLS. Northern Roller Mills —3rd call, 5/- a share Sept. 8 EXCHANGE RATES. Dollar and Franc. j (Received September 6, noon.) LONDON, September 5. j The American dollar is quoted at 5.02|i to the pound sterling, and the franc at 75 1-16. £1 (New Zealand) b Worth: £ s. d.

PRICE OF GOLD. (Received September 6, noon.) LONDON. September I Gold is quoted at 140 s Sid per lim

THIS MORNING'S CALL. Sales 'On *Ch?n;je. 50 Natl. Bmk .Vasia (£10 > paid >, £12/14/- (2) ... 100 Xat'. Insurance. 20 3 .. f 3d 100 Stockton Coa] (old.), 3/3 -Id 200 X.Z. I3rew.. 4i 1. 4. - . . 700 Broken Hill. 40/6, 49/4, 49/5 45) -Id 100 L nited Prov., 9/7 ! 300 Aotearoa. 9d ' -2d 500 <lolden Point. 2Jd 1000 Goldfields Dredge, 1 '1 ■ (2) j —}d 1000 .Mahakipawa. 11 id (2) .. | 1500 Mining House Cons., 5d -Id 50 Mt. Eve 11, 20/4 -2d 100 <»r. Junction. 4/4} -1 ».d 1000 Mossy Creek, 1/7} (2) .. tid THREE O'CLOCK CALL YESTERDAY. Sales on ’Change: £800 Govt. Stock. 1940, £10S . . £2 15 Govt. Stk., 1955, £110 15/- : 12 / 6 150 Bank of X.Z., 47/3 (2) .... I -3d 12 Res. Bank. £6 8 9 100 Goldsbroughs, 30/8 ; —4d 150 X.Z. Brew?.. 47 - (2) 100 Broken Hill. 49, 9, 49/10 .. 300 Dunlop?, 20/1, 20/3, 20/2 ! -3d 50 Alexanders (13/6 pd.), lo 500 Bell Kilgour. 3d 1000 Goldfields Dredge, 1/1 (2) 1000 Mahakipawa, Hid 500 Mataki, 2/6. 2/7J j Mid 300 Mt. Lvell. 20 6 (2), 2></o -Id 200 Xokomai, 3/10 | -2d Sales Reported: £205 Govt. Stock. 1940, £10S 2/6 j n . c . 25 E., S. and A., £5 7/9 ... ! n.c. 15 Nat. Bank A’asia (£10 pd.) £12 14/- ) ! til/500 Xat. Insurance. 20/3 .... 100 X.Z. Brews., 4. - 1500 Mining H. Cons.. »d 1000 Mossy Creek, 1/7} I tid Unlisted Stocks. Sales on ’Change: 250 Woolwortlis 4Syd.) r ord.. ! 69/9, 69/6 (4) , n.c.

K.Z. GOVT. STOCK — 35 p-c. Inscr.. l?3f**J PC. infer.. 193843. and 1938-52 109 4 n.c. Inscr., 1949 19. 4 p.c. Infer.. 1949 107 4 i . Jnscr.. 1949 and Bonds. 1949 109 4 n.c. Infer. 195.7 11" 00 17 K 10S .5 0 0 0 10 o 10 0 4 p.c. Bonds, 194G 11> 4 p.c. Bonds, 1955 110 17 G

OTHER DEBENTURES— Booth, Macdonald, 69 0 0 Glaxo, 6J p.c., 1943 100 0 0 BANKS Adelaide 5 2 6 < 'omm. of Aust. o Comm. of Aust. (’omm. of Sydney 17 7 K.. S. and A. .... 5 o (£10 paid) .... 12 13 Xational of A asia (£5 paid) New Zealand .... 4 New Zealand CD mort. shares) . 6 S Union of Aust. . . INSURANCE — 0 10 10 1 0 New Zealand .... 3 3 Standard 3 6 6 LOAN AND AGENCY— Dale-ety and Co. . n o 6 9 G Golasbrough Mort 1 9 5 X.Z. Guarantee . . 4 United Building (cum div.) 5 Invincible SNIPPING— 1*. & O. deferred stock 0 IS 0 PROZEN MEAT Canterbury (pref.) 5 12 6 X.Z. Refrigerating (£1 paid) .... 0 19 0 0 6 X.Z. Refrigerating (10s paid) .... 0 S 0 9 0 Xorth Canterbury 0 IS 1 0 Southland 3 10 0 WOOLLENS— Kaiapoi (17s paid. cum div.) .... 14 Kaiapoi (7s paid, cum div.) .... 0 3 3 n 4 6 Kaiapoi (pref.. cum div.) 1 1 6 COAX.— Stockton (ord.) 0 3 3 0 3 6 Stockton (pref.) . 0 0 GAS— Auckland 1 5 0 V hristchureh .... 1 12 0 1 0 Christchurch (10s paid) 0 15 1 2 0 Gisborne 0 15 6 breweries New Zealand .... 0 6 Swan 3 11 0 0 S 10 Timaru (7/6 pd.) 0 Tooths 2 5 3 5 8 MISCELLANEOUS Amah Wireless . 2 0 0 Amalgamated \\ ireless (pref.) 1 10 0 Anthony Hordern 0 13 0 4 Australian Glass . 2 12 9 13 3 Aust. Iron and Steel (pref.) . . 1 3 0 1 3 5 Aust. Distillery 1 4 0 Beath and Co. . . 1 12 6 British Tobacco 1 17 1 1 17 Broken Hill Prty. 3 2 9 D.I.C. (pref.) 1 4 0 Dunlop Rubber (cum div.) .... 1 0 1 0 3 Electrolytic Zinc (ord., cum div.) 1 7 3 1 7 9 Electrolytic Zinc (pref.. cum div) 1 16 6 Henry Jones Co-op. 1 12 1 13 6 Kauri Timber 0 17 6 Mason. Struthers (10s paid) .... 0 7 0 Xational Electric 0 7 0 New Colosseum . . 11 Consolidated Brick 0 9 0 X.Z. Farmers* Coop. (4i p.c. Stk.. 1940) S 1 0 0 X.Z. Farmers’ Coop. (45 p.c. Stk., 1946) S3 0 X.Z. Newspapers . 1 12 0 1 Xorth ern Milling United Provisions 0 9 7 0 9 9 "Wilsons Cement . 1 10 \\ oolworths (X.Z.) 7 10 liquidation) 0 2 0 0 3 6 Taupo Totara Timber 0 6 0 MINING Alexander 0 17 9 0 IS 6 paid) 0 34 10 0 Aotearoa Bell Hill Bell Hooper .... 5 B‘ell Kilgour .... Bendigo Goldlights Brian Boru 0 1 • i 11 0 1 0 1 H Consolidated .... 0 0 3 Golden Point .... Golden Sands .... 0 2 81 3 King Solomon 0 4 21 4 Kuala Kampar ... Lawson's Flat . . 4 0 0 b 54 Mahakipawa 0 0 11 0 Mahakipawa (pf.), 1929 issue .... 51 Mahakipawa (pf.), 1930 issue Mataki 0 2 Cons. (9d paid) 0 0 41 Mount Eye 11 .... 1 0 4 Mount Morgan . . Murray Creek • . . 0 0 Xer.-is Diesel Elec. (Is paid) Xew Cornish Point Xokomai Okarito Oxenbridge Shotover (Is paid) Paddy’s Point ... 0 0 9 Upper Shotover | (9d paid) .... Waihi 1 Waihi Grand 0 Waitahu 0 4 Worksop 0 1 101 Skippers Stafford Sluicing . H ; Mossy Creek .... 0 1 t>i 0 8

! (pref.) 0 18 6 Argo Hold (3d pd) 0 0 3* 0 0 33 Ben Ledi (l.« paid) 0 10 011 Brunner Collieries 0 6 0 Brown's Laundry (£1 paid) 10 0 Claude X e o n Lights 213 6 Coul 1-s, Somerville and Wilkie .... 10 0 Dominion Life (6s \ pa id) 0 1 0 0 4 0 Hay’s. Ltd. (15s pd.) 015 0 017 6 Golden Gully (6d paid) 0 0 0 011 Golden Gully (9d paid) 0 0 11 .Tones Nevis 0 0 8 Maori Gully (9d paid) 0 0 10£ Mineral and Merc. Trust (15s paid) 017 6 019 6 NT.%. Mining Invest. 0 0 11 X.Z. Perp. Forests 2 6 0 Procera Bread (10s paid) 0 6 0 013 0 .T. Shand and Co. .. 0 14 0 Smith Wylie . . • . . 0 7 0 0 0 0 Snowy River . .. .. 0 0 2 ' Alarm .V.? 0 0 9 0 1 5 \V«»ol worths (Viet.) pref. 1 6 0 1 8 0 ! Wool-worths (Syd.) j ord 3 9 0 3 9 6 London Quotations. War Loan. 3J per cent, moved to h {new high level of £105. New Guinea, 5/9.

£ s. d. Xat. Bank of A’asia, £10 pd. (£12 14/-) 3 IS 8 Xat. Insurance (20/3) 3 14 0 N.Z. Breweries (47/-) 2 19 6 Broken Hill (49/5) 4 10 Govt. Stock, 1940 (£108) 2 12 9 Bank of X.Z. (47/6) 4 4 2 Reserve Bank (£6 8/9) 3 17 7 Goldsbrougrh Mort (30/S) .... 3 IS 3 Dunlop Rubber (20/2) 4 19 1 E., S. and A. Bank (£5 7/9) .. 2 15 i Bank X.S.W. (£32) 3 2 6

I?S“ a n3 ' 47 ye, .°..::: . 17 7 . 1 0 o 0 16 4 . 0 16 0 . 0 16 0 . 0 3 9 . 0 9 7 . 0 9 7 In New York (3.98 dollars) . In Montreal (3.90 dollars) In Berlin <10.00 marks) In Paris <59.00 francs) In Brussels <10.74 belsa) ...