CHRISTCHURCH STOCK EXCHANGE.

Press, Volume LXIII, Issue 19154, 10 November 1927, Page 16

CHRISTCHURCH STOCK EXCHANGE.

YESTERDAY'S TRANSACTIONS. Sai'3 on 'Change—Union Bank ittacvioss.. 8s 6d, :-s (two parcels); Xew Zealand Breweries, 44s 6d; Beath and Co., 3'2s 3d ; Holder.'* Motors, 335. Sal«« re-ported-Xew Zealand Breweri?:?, 44s ?-i, 4-5?. LATEST QUOTATIONS.

OTHER EXCHANGES. frSESJ ASSOCIATION TELEGRAMS.! AUCKLAND; November 9. Sales:—Borough of Hamilton 6J per cent. £103; Union Bank of Australia (rights) 535, fractions 8s; Fukemiro Collieries 60s; Taranaki Oilfields 12s, lis 3d, lis, 10s 9d; Wilson's Cement 36s 6d; Occidental Una (con.) Is 7d; Waihi 21s sd, 21s 4d. WELLINGTON, November 9. Sale* Reported—4s per cent. Stock, 1938, £96 7s 6d; Union Bank (right*), 52s and 535; Howard, Smith, 80s 3d; Wilson's Cement, 86s sd; Union Bank (fractions), 9s. DUNEDIN, November 9. Sales—Union Bank (fractions), Sa Gd; Taranaki Oil, lis. Sales Reported—Electrolytic Zinc (ord.l, 31n 4sd (two). BURNSIDE MARKET. (»XM iSBOCIAHOK tELXaBi.lt.) DUNEDIN, November 9. There was a medium sarket for fat cattle at Burnside to-day. The sale for sheep was a bit erratic. Store cattle sold well. Fat Catlte—A yarding of 226. Prices for fat cattle were at the beginning of the sale about on a par with those of last week. Prime heavy bullocks sold up to £l9 10s, equal to 37s 6d per 1001b; primes from £l4 10s to £l6, equal to 40s; and mediums from £l3 to £l4 ss. For prime heifers up to £l2 was given, and prime cows realised £l2 12s 6d, equal to 30s to 42s 6d per 1001b. Store Cattle—A yarding of 102. The sale and quality were both good, the best cows bringing from £8 to £8 10s, while good heifers were from £6 to £7 10s. Medium quality sold at late rates. Fat Sheep—The 'yarding of fat sheep numbered 2140, and consisted of a run of very prime heavy wethers and primes, and very prims' heavy ewes, together with the usual tail-end of medium and lighter sorts. For the first time this season shorn wethers and ewes appeared. The sale opened at last rates, and continued firm at those prices, showing an appreciation for prime hoavles in places. The sale finished quietly. Prices: Prime heavy vetherß 50s to 575,' prime 43s to 495, medium 38s to 425, extra prime shorn wethers 48s, prime 30s to 345, extra prime ewes to 48s, primo 36s to 445. Prices for extra heavy wethers were on a basis of 7Jd, prime light 7£d to Bd, prime ewes 6d, and aged ewes 3d. Lambs—There was a large yarding of about 90. The quality was good, but the prices were a little easier than last week, and were on a basis of lOd to Is per lb. Pigs—A penning of 90 fats and 76 stores. Taken all round the quality was fairly good. Baconers were more plentiful than usual. The fats showed an improvement in valu'cs, but the stores remained about the same as previously.

BRUCE WOOLLEN CO.

ANNUAL MEETING. (PSESS ASSOCIATIOK TELZGRAM.) Dt'XEDIN, November 9. The thirtieth ordinary general meeting of the Bruce Woollen Manufacturing Company was held in the office of the company at Milton to-day. The chairman of directors (Mr William Moore) presided. The chairman, in moving the adoption of the report and balance-sheet, said he very much regretted that as a result of the year's ■work they were faced with a loss. There were not a few reasons for the result, though it would be difficult to explain them at that time. In the first place there was a lot of stock that had to be sold at a loss. Then reorganisation took place. The company's selling channels had now been very much improved. Foitmerly that was a weak point, and the directors believed that to-day their mode of selling was much superior to what it was at one time. The balance-sheet showed that the overdraft was larger than it was last year, but that was accounted for by the dividend paid last year, the payment of incometax, and the withdrawal of deposits. It was the stock that was looked on as the keynote of all balance-sheets. This year the stock had slightly increased, and the directors were satisfied that the amount stated was the amount of the actual stock in hand. In support of the belief of the directors that the company had turned the corner, he mentioned that for the last four months its monthly gales had shown an increase on the corresponding four months of last year. Mr A. E. Stewart seconded the motion. Speaking ou the balance-sheet, he said the bank overdraft was £20,600 higher than last year. As a result of reforms, the expenses had been reduced by £ISOO, so that one item nearly balanced the" other. The main thine, so far as the shareholders were concerned, was that their capital was intact- Further, the reserve of £17,700 was intact, and losses ♦hi* year had been provided for out of the

carry-over of last year. With regard to the future, it was hard to tell what would happen. Although they had turned the corner, things would hare to be run cannily, as was the case with most institutions to-day. "With two exceptions, all the woollen mills were hard put to it owing to keen competition. The report and balance-sheet were adopted. The retiring directors, Messrs "W. Moore and A. E. Stewart, were re-elected. SHARES. (AUSTRALIAN' tSD K.Z. AKD SUX CABLE.) LOSDON", Xoyember 8. P. and 0. £261; TJaljrety and Co. shares £l3; Palgety and Co. debenture stock £75 10s; Goldsbroush, Mort £B-1.

WESTPORT COAL COMPANY. (FRBSS ASSOCIATIOK TSLEQBAJI.) DUNEDIN, Kovember 9. . Ths directors of the Westport Coal Company recommend a dividend of 6d per share, making; 71 per cent, for the year. A distribution of 6d per share from tie insurance account is also proposed.

Buyer s. £ 8. d. X s. d. N.Z. GOVT. DEBENTURES— 1; ner cent. Inscribed, IKS .. - ; ?6 5 0 — 4J for cent. Inscribed, 1933 96 5 0 96 :o 0 4} r><r cent. Bonds. 1030 9S 0 0 4s per cent. Bond?, 193-5 and 1933 56 5 0 — oj per cent. Inscribed, . ' 1936 — ;oi 7 6 BANKS- . Adelaide lex di'-'.: P. !1 r, 8 15 0 Aust. o:' Commerce Australasia. i :q ' 1 12 10 14 15 0 Comm. of Aust. 1 0 0 1 9 2 Comm. o; .Aust. (pref. 1 7 0 6 7 1 6 Comm. of Svdnev ■:t in 0 ■24 17 0 E., S., and A. — 7 1" 0 •- E„ P.. and A. ;Royai Hank issue) 0 — National of AustralaB;» ■;£5 paid; .. ■,, S 1.4 -- National of N.Z. 6 15 6 6 17 6 NeT South Wales .. 4 4 5 n 44 R 0 New Zealand .. 2 IS l 2 IS 4 Mer Zealand (Mortgage Shares, 10s paid) 0 16 7 — Queensland National (rum div.) f 5 0 — Union of Aust. is in 0 14 5 0 Union of Anst. '.ri'bts'i 2 12 0 2 1" 0 Union of AuEt. (fractions) 0 7 9 — INSXRANCENational (cum dir.l .. 4 0 0 QueenBlanH 2 15 9 2 16 6 South British ~ ■2 16 9 LOAN AND AGENCY--Dalpetv and Co. icum div.) is ie 0 13 15 0 Dalrot" and Co. (new) 13 l> n 13 6 0 Gold'brough, Mort o 7 10 2 8 3 rioldsbrough, Mort fn»Kl 2 6 10 2 7 2 N.Z. Loan and Mercantile (ord. stock) .. 93 10 0 — N.Z. and River Plate 1 7 0 SHIPP1NGHoward. Smith — 1 10 3 Huddart-Parker 2 7 0 — Union (pre*".) 1 0 0 — FROZEN MEAT— Canterbury 7 17 6' 8 5 0 Canterbury (pref.) i 10 0 — N.Z. Rcfrig. (£1 paid) 0 15 7 0 16 0 N.Z. (contr.) .. 0 7 11 0 8 1 WOOLLENS- ( J Kaiapoi (17s paid) 0 8 n 0 10 0 Kaiapoj (pref.) 0 10 9 0 12 3 Mosgiel (cum div.) 6 Li 0 — COAL— Hikurangi (pref.) .._ 0 6 8 Hikurangi (ord.) — 0 2 9 West port — 1 15 10 1 18 0 GASAuckland — 1 S 0 Christehurch 1 3 3 1 3 7 Christchurcb (nevr, 5s paid) n 6 4 0 6 6 Tiraaru l i 6 1 3 0 BREWERIE*Monteith's 0 19 0 1 1 0 New Zealand 2 4 6 2 4 11 Staples 1 18 0 1 18 5 Ward 1 14 0 1 18 0 MISCELLANEOUSAust. Glass (cum div.) 2 1 0 — Beath and Co. 1 12 3 ! 12 6 British Tobacco 2 18 4 . 2 18 S Burns, Philp 1 16 6 — Electro. Zinc (ord.) .. 1 11 2 1 11 5 Electro. Zinc (pref.) .. 1 12 0 1 12 3 Holden's Motors 1 12 9 1 13 2 N.Z. Drug Co. 3 4 0 — Nf.Z. Farmers' Co-op. (pref. ts div. only) — 2 0 0 >N.Z. Farmers' Co-op. (6t per cent. Stock, 1930) 74 0 0 78 0 0 N.Z. Guarantee Corpn. 0 8 8 0 8 11 N.Z. Paper Mills (cum div.) 0 16 0 — Taranaki Oilfields 0 11 s 0 12 0 Whitcombe and Tombs — 3 8 0 MININGOhinemuri 0 5 0 — Kawarau 0 0 It Mt. Lvell (cum div.) .. 1 7 S 1 8 0 Mt. Isa 1 i 0 Waihi 1 1 5 12 0