CHRISTCHURCH STOCK EXCHANGE.

Press, Volume LXVII, Issue 20171, 25 February 1931, Page 12

CHRISTCHURCH STOCK EXCHANGE.

YESTERDAY'S TRANSACTIONS. There was an increased turnover; on 1 call yesterday and prices of recorded dealings showed an advanoe. Transactions, exclusive of vestibule business, , included: 300 Commercial Bank of Australia. 100 Goldsbrough, Morfc.' 500 N.Z. Refrig. (10s paid, late sale 23rd). . . j 100 North Canterbury Freezing. 200 New Zealand Breweries^ 600 British Tobacco. . 50 New Zealand Drug Co. 700 King Solomon. 1300 Mahakipawa Goldfields. Commercial Bank of Australia shares changed bands. at 13s 6d. and 13s 7d, buyers staying in at 135.6 d, sellers at 13s 7d. Buyers of Bank of New South Wales shares movjed up to £25 10s. sell- . eraat £26 7s 6d. ; Bank of New " Zealand were stronger on buyers' offers 47s 2d, sellers at 48s 3d; Union Bank of Australia,shares ,were firmer at £6 12s 6d bt%ers, £7 6s sellers. Golds- • -brought M«Srts jumped to. 18s 7d, market closing 18s 3d buyers, 19s sellers. A late sale of New Zealand 'Refrigerating Company, 10s paid, shares on 23rd inst., was reported at Is 6d, «stad there were further buyers at that price, sellers at Is lid. North Canterbury Freezing Company shares were released at lOd, and more were wanted at that figure, sellers at Is. New Zealand Breweries shares hardened to dealings at 33s 9d and 345, buyers staying in at .the higher price, sellers at • 34s 3d. Tooths • Brewery buyers moved up to 20s, sellers at 235. British Tobaccos scored'a rise of 6d with dealings at 27s lid, market closing Id on either side. Electrolytic Zinc Preference: shares were .firmer with buyers at 15s 4d, sellers at 16fi 9d. New Zenland Drug Company shares moved up to 50s 6d, closing quotations 60s 6d buyers, 51s 6d sellers. : Buyers of Mt. Lyells raised their bids to 19s 6d, sellers at 21s 3d. Wilson's Cements Hardened to 38s 6d buyers, 39s 6d sellers. King Solomon* Gold . Mining shares changed ; hands at 2s and Is lid, sellers staying in. at the Jower nrice, buyers at is lOd. Goldfields, shores were firmer with dealings at B}d and 9d and fui-ther buyers ;at 9d, sellers at 9Jd., , IATEi3T QUOTATIONS. Buyers. Selleje. £ a>d. £ a.d. N.Z. Oovernment Debentures—--4£ per cent. Insoiibed, 1938 .. 93 O 0 5} per cent. Inscribed, 1933 .. .. 98 15 0 99 10 0 6i per cent. Bonds, 1933 .. .. 99 0 0 Bi per ;■ cent. Bonds, 1986 .. .. 98 0 0 v—--5J -per cent. , Btocjc, ' , 1951 " .. 96 10 0 98 5 0 Other Debenture®— Giaborno . Borough, < - per cent.; 1915' ! WainuJtariri Biver Trust, 5i nor cent., J895 *. '••

Sales Reported—

£ «. d. N.Z. Refrig. (10s paid, late sale 23rd) ... ... 01 6 Commercial Bank O 13 7 AUCKLAND.

WELLINGTON. Sale Beported—- £ s, d. Staples and Co. ... ... 111 6 DUNEDIN. Sales Beported—- £ s. d. King Solomon ... ... 0 2 1 0 2 S AUCKLAND EXCHANGE. (rsxsa ißEOciATio* «ueo&*it.) AUCKLAND, February 24. Business on the. Stock Exchange has been only moderate since the last report. Auckland Gas has been in stead; demand, and there have been sales of both issues, with prices unaltered. At this morning's call there Was fair enquiry for banking shares, and buyers for New South Wales moved their limits up to. £24 10s. Commercials had buyers at 13s ! 3d; and'for New Zealands 46s 9d was available. Insurances, also were rather better, with 36s 3d offered for New Zealands, and 50s for. South British. . Following sales in Christchurch, Goldsbrough, Morts Were again in request, with buyers at 17s. Union Oils were offered cheaper at 31s. At the noon call therei was a marked firmness in certain sections, with buyers advancing their limits. In the banking class, bids for Gommerrials moved up to 13s-4d, for New South Wales to •£25 2s 6d, and for New' Zealands to 475. For New Zealand -Insurances there were buyers at 36s 6d, and for Goldsbrough, Mort bidders were up to 17s Gd, the highest figuro reached for some time. K£ag<Solomon Mines again attracted interest, and there were buyers at Is lid. TARANAKI OIL FIELDS. (IBW; UUCUIIOII ItUOUll,) GISBORNE, February 24. Taranaki Oil Fields report :_L At Waitangi (No. 1 well, progress was delayed by caving of about. 1040 ft accompanied by a ctmsiderable, amount of gas. Pumped mud into the formation, after which ran 240 hnmf of cement through' the tubing to 1020 ft. Gas now shut off, and will resume operations on March 2nd. COMPANY NEWS.

OVERSEAS REPORTS. ,• ?®PP of, operations ~©f . Australian And British jtonpuiei iro to lund bx 701(07* day's mail:— j.. . Anulgamsta4-Slse Dividend. - ZSnc Company hu de« * <ll»idcnd at the irate of 8 mi cent; pw far<the six months ended Decern-bW-Sl&'ah&ject' to exchange, Australia oa : Naw-JBewaifd.; .The dividend will bo paid to • shareholder* registered' oa March loth.- The tranter, books/close on March oth,androopea-. on;M«reh 11th. The dividend ispsy-: »bhW April "I.oth; • "I The. dividend!. paid last year' was 8 par «*>V < ji ,» - », , J i> 'j, , , ; Dividend. , t* Dividend at tho rate.of ,10. par cent, pox annum, .in respect of'the half-year endet December Slat last, has - bees declared - by Oarrera*. Ltd., .on it* preference shares. ~ - «*»* 7«sr the eompany Required a, control* ling interest In O. Q. Goode, Ltd., an Australian : cigsr and cigarette company, bythd purchase 0f.7G,098 lav ordinary ahatt»»4 10a -each. It wag intimated at the time' the mer£<*r wa* affected that .one result wouldhe that Additional.'capital would he' mad* available tat development of. 1 the eotn-' ppjy a bnSinesa .-la the Commonwealth. - * -jS /■>' iv'fWortl^Sliptt'Moving the adoption' of the report "-and balance-sheet at. tho aorioalmeetlng of'sharehpldera; of, the '^North-,-Shore Gas • Company,', Ltd, last' we6k,tha,*chirirman of director* (Mr J. B. Thomson) "said that through having to, purchase unsuitable coalowtoritotho coaX dispute. the, company inf. involved in./*tfiurthee' lose of , £28;060 lafrt;Lyear, making; the, total loss £54,458. iThis sumhad beeA ed to tho special purposes and depreciation fttnd* * * * '• \ * \ t * ** s \ DMaahd* Bodmced. J v I < Director*, of the Castlemalne Brewery Co, Melbourne. Ltd,' have declared an Interim, dividend oflOid. The'interim dividend* for thq corresponding period last, year wasls 8d • share. . . ' »• . jA cable message from London abates that the- AustralianAgrieulturiJ Company hasdeclared an interim dividend: of 1' per cent, free of British income tax. This distribution, equal to la a ahare, compares with 2s ;a share paid In March, 1930. , „ Oarlton" Brewery Dividend Deferred. , For the yearended December 31st, reduced earnings »re shown by Oarlton Brewery, Ltd., net proflti at £98,489 comparing with* £124,906 for 1929. As £95,140 is brought, forward, there is available .£193,838.' , In-, terim dividend at the rate of 11 per eent. per annum, paid in . October, absorbs £44,035, and final dividend at the rate of 10 per cent, per annum reguires £40,848, leaving a balance of £107,853 at" the credit of profit v and lqss. The directors state that they have decided' to defer the final dividend at tho reduced rate in view of the present conditions and 'increased taxes. J. 0. Williamson Operations. J. 0. Williamson, Ltd.', Sydney, disclose- a' loss of £18,603 for the year ended Jun& 80th last,, compared with a'profit of £50,804. for the 'previous year. >A dividend'.of £9375, or 2j per cent., was paid on ordinary shares on December 81st, 1929, and the usual quarterly dividends of 2 per cent, per. quarter, amount* ing to £12,000, were paid -on preference ~ shares. Owing to business for 1929-30 - resulting in loss,< the directors state: that: dividends have been declared payable-.out~-of undistributed profits for the year ended »fuue 30th, 1928. Owing to financial restrictions the company has not for the present paid the usual interim dividends: on preference, shares, since the close of ,1629-80. The directors assure the'shareholders that as soon as circumstances permit payment of these dividends will be resumed. The report states that the' ; loss is due ito the prevailing depression, and adverse business and social conditions generally, occentua'ted: by the exceptional and oppressive State' and Federal amusement taxes; including double taxation in New -South - Wales and Victoria. The continuance of special taxation, the directors said,' will remit in continued restriction of the company's' business. 8., and A. Bank, Ltd. , The hoard of the English, ' Scottish, and Australian Bank, htd., advises that' on and : after February 23rd transfers of th'tbank'a stock , and shares from the Australian registers to the London registers will .be. suspended; . Ouinea Airways, Ltd. v The secretary of' Guinea Airways, Ltd., retening to the decision of the tlirectons to ; >ffer for subscription 15,000 £1 shares at ' par," in order to provide further capital in riew of the company's extended operations, itates that the shares will be issued as nearly ts < possible pro rata .to the holders of the . sompany's existing, shares whose names .apr. : pear on: the register of:members on the;2oth« nst., in the /proportion: of one - new share 'for ' jvery four existing shares 'held.; Any, shares representing fractions will be. disposed"of on ;he Stock Exchange and the proceeds distributed to tbe ihnreholders entitled to them. The.new shares will rank for dividend as Irom the 28th inst. > WEEKLY EGG SALE. , Messrs Harris Bros., Ltd., report that the' isnal weekly sale of '.'Feather Brand"- guar- - mteed new-laid eggs was held yesterday ' ifternoon. ' The prices realised urere:—Hen - iggs, first grade (2os or over),' Is lOd; hen iggg,- second' grade (under 2os), la Bd. —8 V •• 1 1/ r <r v

Christchurch Drainage, Si 'per cent., 1936- ■ 73 Christchurch Citj% 5i ■jet. cent., 1944 '• ••• Spxlijg8-BUe»mexe Power ' emtf lM) Chrirtchurch Drainage, 51 per cent., 1944 N.Z. Breweries, Bonds N.Z. Reirig., 64 per cent., • 1985 .. 99 0 se' o 1 1 0 0 8 90 10 0 9410M)! ;W io. 0 99 0' 0 12 6 94 15 0 Banks— , Aust. of Commerce - Australasia. .. .. Comm. of Aust. Comm. of AuBt. (pref.) E., S., end A. National of "N.Z. . New Scmtb Wales (earn div.) .. .. New Zealand .. New Zealand , (D : MortT , E a B° shores) ' 'tTnioto >of Aust. 0 13 10 8 10 0 013 0 5 12 6 4 10 0 25 10 0 2 7 8 1 5 0 s is e : 0 14,0 i-, —/vl:' , 0 18 7 " S 19 ' 0 £50 4 13 6 26 1 6 2 8 8 7*6 0 V t > \ * > ? ilnsorsnce— - - ' Notional' " New, Zealand .. i.. . iCMeeqda'nd * •.. , South ' .. 0 12 1 16 3/0 6 • 6 OlSj 8 .1,0 0 2l4 0 Agencyi— „ K* ChHstobiireb' Building Society> •; Goldsbrough, Mart .. %A*. N.Z. Guarantee Corpto. - Pormanent • Investment * United Building Society 10 D 0 18 0 5 9 0 „-0 13 0 13,18 0 0 jDliajio. 0 0 o >fi u 0 1016 0 « 014 0 .Frozen 'Me&t— - - ' * : . (pref.)i. V.Z. J Itefiig. m' paid) f , N.Z. Befrig. (IDs paid) "North • Catity. Freeiirig* — - .♦ , 0 OX8 0 0*10 t', T y ■400 OS 0 :o,i 11 K P. 1. 0 (U ,, „ ( __ - | Kaiapoi (17a paid) ; o e 0 IT* ' Westport >• >. >\ ' * • ( Gas— , t Christchurch .. ... ."Christchurch (10s paid) 8 1 4 0 10 9 0 1;« 8 0 11 0 Breweries— New Zealand Striples .. «. Timaru .. •• Timaru (Be paid) .. Tooheys ... .. -Tooths ' .. •• 1 14 1 11 . 0 *4 0 12 1 0 0' 0 8' 0 0 1,14 8 na 0 0 18 0 0 6 0 0 16 10 18 0 Miscellaneous— . Allied Motors Amalgamated 'Wireless' . (contr.), .. Australian Glass '• .. . Boath and Co. ■' Beath and' Co. (Is paid) ' British Tobacco Burns, Philp ' ■' Colonial Sugar D.I.O. (10s paid) Dunlop-Perdriau . RubElectro. Zinc (ord.) ' Electro. '"Zino (pref.) .. Glonmore 2 Brick and " ' lilo ■ ■ . .. Greater Crystal Palace J-Iayward's Pictures .,.; Holden's Motors Howard , Smith . ... Mt. iyell. .i i N.Z. Drug Co. • : N.Z. Fanners' Go-op. (JE2 10s paid) N.Z. . • Farmers' Co-op. ("B" prcf.) .. N.Z. Farmers' Co-op. : (Gi per, cent. Stock, 1940) ..' ... N.Z. Farmers' Co-op. i . (6} per cent. Stock, 1 1945) N.Z. Paper Mills TaranaM Oil " Whitcombe and Tombs -Wilson's; Cement: .. ■ N.Z. ' Sugar . of -Milk - (pref.) 0 0 9 0 13 6 1 a 0 0 19 0 0 18 1 no 16 8 0 8 6 0 8 7 0 15 4 0 15 0 0 10 0 9 8 0 19 6 2 10 6 VS 0 ,0 45 0 0 0 15 6 2 12 0 1 18 6 0 2 6 0 16 10 0 18 0 110 0 18 18 0 118 6 83 10 0 110 0 11 0 0 12 7 0 16 9 019 O 0 10 '6 0 8 9 118 2 11 6 10 0 1 10 0 60 0 0 65 0 0 0 18 6 0 8 6 2 17 0 119 6 Mining— Alexander • " .. ,, .' Cornish Point •• King Solomon Mahakipawa Okarito : v. •.. Stoney Creek (7£d paid) Waibi .. .. , . Winding Creek (Is pd.) • Winding Creek (9d pd.) ., North Broken Hill - — 0 8 0 0 0 2 — 0 1 10 0 1 11 0 0 9 0 0 9} 0 5 8 0 6 1. — 0 0-6 0 15 8 0 15 9 0> 0 1J 0 0 4 — 0 0 6 — 0 CI n

Pterin xsroiten am .. — 2 9 0 YESTERDAY'S SALES. CHRISTCHURCH. Sales on 'Change— £ 8, d. Commercial Bank of Australia (2) 0 13 6 Soldsbrough, Mort ... 0,18 7 North Canterbury Freezing ■ .. 0 0 10 yew Zealand Bteweries 1 13 9 . 1 14v 0 British Tobacco (6) 17 11 !f.Z. Drug Company ... 2 20 6 Sing Solomon Mining ... - 0- 2" O * ' . " ■ (2) 0 1 11 Mahakipawa Goldfields ... 0 ,0 8i i . (3) 0 0 9

galea oil 'Change— • £ s. d. /Bank of New Zealand 2, 7 6 Union Bank ... ... 6 10 6 South British Insurance 2 10 6 Auckland Gas ... 1 2 6 ■British Tobacco • ... 1 7 6 Mt. Lyell t ... 0 19 1 0 19 4 Moanataiari Mining 0 3 2 . (paid) 0 0 6 . King Solomon ... ... 0 2 1 0 2 0