THE STOCK EXCHANGES

Press, Volume LXXIV, Issue 22520, 30 September 1938, Page 15

THE STOCK EXCHANGES

RECOVERY IN LOCAL MARKETS

LEADING SHARES MAKE UP LOST GROUND

; The more encouraging news from Europe caused a recovery , in all sections of the Christchurch Stock Exchange markets yesterday. Leading Australian industrials and mining shares re- ; covered practically all the ground lost in the last day or two ] and support for other sections was stronger. Among the best re-* coveries were G. J. Coles, for which sellers were quoting £3 16s 9d at the close, 4s above the previous day's price; Broken Hill Proprietary, which rose from £2 lis 8d to £2 15s 6d; Broken ; Hill Proprietary (Cont.), which rose from £1 13s 8d to £1 • 17s 6d; and ordinary and preference Electrolytic Zinc, which rose 3s and 4s 6d respectively. The table which follows shows the trend of prices over the last few days:— Wed-

DEALINGS COMPLETED LISTED STOCKS Sales on 'Chan&rc

UAJLISIKU SIUUR J Sale on 'Change 500 E. Reece, Ltd. fpref.) 0 3 0 Frozen Meat /and Breweries Canterbury Frozen Meat remained unaltered at £9 10s. New Zealand Breweries were firmer, with buyers at 395, sellers at 40s. Tooth's Brewery moved up to buyers at 48s 6d, sellers at 525. Anthony Hordern remained unaltered with dealings at 14s 6d, but closed firmer, with buyers at 14s lOd. British Tobacco recovered to 45s 3d buyers, 46s 3d sellers. Broken Hill Proprietary rose to 55s 4d, market closing 2d either way. The contributing had business at 36s lOd. Colonial Sugar were stronger, with buyers at £44 10s. Buyers' offers for Dunlop Rubber, Electrolytic Zincs, ordinary and preference, McKenzies, Ltd., and Woolworths revealed firmer markets. G. J. Coles rose sharply to 755, market closing 74s buyers, 76s 9d sellers. Hume Pipe (Aust.), ciim dividend, i changed hands at 18s 6d, and more were wanted at that price. Taranaki Oilfields rose to dealings at lis 6d and lis Bd, market closing lis 6d buyers, lis lOd sellers. United Provisions (cum dividend) changed hands at 7s, and more were wanted at that, price. Mining: Mount Lyells recovered to 26s 9d, sellers staying in at that figure, buyers at 26s 6d. Buyers of Broken Hill South rose from 26s 8d to 28s 4d, sellers at 28s lid. North Broken Hill were firmer, with 'Buyers at 43s 6d, sellers at 43s lid. Unlisted Stock Reece, Ltd. (preference), remained : | unaltered, with buyers and business at 3s. LATEST QUOTATIONS ] ]

UNLISTED STOCKS All transactions in stocks quoted in this section are subject to special brokerage and are not quoted on the official list: — Buyers. Sellers. £ s. d. £ .s. d. Ballins Breweries .. 010 3 011 6 Blackball Creek. .. 0 1 1J Kanierl .. Ngahere .. O 14 O Beece, Ltd., E. (pf.) O 3 O Rink Taxis .. 0 5 0 Tingey, R. and E. .. AUCKLAND

WELLINGTON Sales on 'Change £ s. d. 31 p.c. Ins, Stock, 1953-57 .. 93' 0 0 Broken Hill Pty. .. .. 2 11 0 Woolwortfis (N.Z.) .. 0 18 0 (All above late Wednesday.) 3& p.c. Ins. Stock, 1939-43 (2) 98 2 6 3J p.c. Ins. Stock, 1953-57 .. 93 0 0 4 p.c. Ins. Stock, 1949 .. 100 10 0 Bank of New Zealand ... 2 19 G. J. Coles .. .. 313 6 Woolworths (N.Z.) .. .. 0 18 3 DUNEDIN Sales Reported £ s. d. Auckland City Debs., 41 p.c, 1955 .. .. 100 10 0 Gillespie's Beach .. .. 0 10 Bank of New Zealand .. 2 1 42 DIVIDENDS DUE

LONDON WOOL SALES ACTIVE DEMAND FOR CROSSBREDS SLIPES SELL WELL AT STRONG RATES (TOOTED PRESS ASSOCIATION—COCTBIGKT.) LONDON, September 28. At the wool sales 9389 bales were offered, including 4830 New Zealand and 8564 were sold. There was a good selection, chiefly of crossbreds. There was an active demand for crossbreds, and slipes sold well, being quoted 5 to 10 per cent. higher than the close of last series. GOOD COMPETITION AT SYDNEY GREASY MERINO TO SEVENTEEN PENCE SYDNEY, September 29. At to-day's wool sales, competition was well maintained from Yorkshire, and fair support came from the Continent and Japan. Prices were firm occasionally in sellers' favour. Greasy merino realised to 17$ d. The offering consisted of 13,775 bales, of which 12,430 were sold at auction and 985 privately. GOLD CONTINUES TO RISE PRICE NOW £7/7/SILVER QUOTATIONS FALL LONDON, September 28. Gold has again risen to a new high level for the last three years—£7 7s ;i fine ounce. This price is a rise of Js 6d on the previous day's figure. The value of the gold sold at this price was £2,252,000. • Spot silver is quoted at 18§d an ounce, a fall of 2|d, and forward at 18|d, a fall of 2Jd. SHORT LOANS AND BILLS LONDON, September 28. Discount and short loan interest rates on the London market are: Day to day loans, i per cent.; fine trade bills (three months), 3to 3J per cent.; bank bills (three months), 1| per cent; bank bills (six months), 24 per cent; Treasury bills (two months), 1 13-16 per cent.; Treasury bills (three months), 1 13-16 per cent

Friday. Saturday. Tuesday. nesday. Thursday. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Bank of New Zealand 2 2 0 2 2 3 2 2 0 2 1 9 2 2 0 Felt and Textiles 1 12 0 1 11 9 1 11 0 1 10 0 — Anthony Hordern .. — 0 16 6 — 0 14 6 0 15 9 G. J. Coles 3 16 2 3 15 9 3 12 6 3 12 9 3 16 9 Australian Glass 4 11 9 4 11 9 4 10 0 4 5 0 — Broken Hill Proprietary .. 2 14 4 2 14 0 2 11 0 2 11 2 11 8 0 2 15 6 Broken Hill Propty. (cont.) 1 17 3 46 15* 0 1 17 0 1 15 0 1 13 1 13 8 6 1 17 6 Colonial Sugar ' .. 46 10 0 44 10 0 44 0 0 45 15 0 Electrolytic Zinc (ord.) .. 1 19 3 1 18 9 1 17 0 1 16 1 16 2 1 5 6 6 1 19 6 Electrolytic Zinc (pref.) .. 2 4 0 2 4 0 •-._ 2 6 0 Taranaki Oil 0 12 1 0 11 11 0 11 10 0 11 2 0 11 10 Woolworths .. .. 10 3 1 0 3 0 19 4 0 19 2 10 6 Mount Morgan .. .. 0 10 10i 0 10 9J 0 10 9 0 10 0 10 6 4 0 10 8 Rawang Tin .. 0 8 0 — — 0 7 9 0 7 9

Huyers. Sellers. ,C s. d £ s. d. Colonial Sugar (£20) 41 10 0 45 15 0 Dominion Fert. (£1) — 14 0 Donaghy Rope (£1) 2 2 6 2 7 6 D.I.C. (10s paid) 0 13 6 — D.I.C. (pref.. £1) — 14 0 Dunlop Rubber (cum div., £1) 0 19 0 10 6 Electro. Zinc (cum div., £1) 1 18 6 1 19 6 Electro. Zinc (pref., £1) 2 3 0 2 6 0 Evans Atlas Flour (10s) 0 19 0 10 0 G. J. Coles (£1) 3 14 0 3 16 9 Gordon & Gotch (£1) — 2 14 6 Howard Smith (£1) .. 0 17 3 018 0 I.C.I. (Aust. and N.Z.) (pref.. £1) — 116 Morris Hedstrom (£1) 1 4 0 _ Morts Dock (£1) 0 10 0 _ McKenzies, Ltd. (£1) 2 17 6 3 0 0 N.Z. Drug Co. (£2) 3 8 6 N.Z. Farmers' Oo-op. (£2 10s paid) — 0 10 0 N.Z. Farmers' Co-op. (4i p.c. Stock, 1950, £100) 90 0 9 — N.Z. Farmers' Co-op. (4J p.c. Stock 1955, £100) 90 0 0 92 10 0 N.Z. Farm. Fert. (£1) 0 16 0 N.Z. Newspapers (16/8) I 14 0 1 15 0 Taranaki Oil. (24/7 pd.) 0 11 6 0 11 10 United Provis. (cum div., £1) 0 7 0 0 8 0 Wilson's Cement (10s) 0 15 0 Woolworths (Sydney) (ord„ cum div., 5s) .. 0 19 7 10 6 Woolworths (N.Z.) (5s) 0 17 6 0 18 ,6 Woolworths (pref., cum div.. £1) — 1 19 0 Overseas, Listings Woolworths (S.A) (5s) 0 14 4 0 15 0 Mining Argo (Is) ... .. 0 1 11 Argo (con.. Is) 0 1 3 0 18 Big River (Is) — 0 12 Austral.-N.Z. (£1) .. —» 110 Gillespie's Beach (Is) — 0 1 01 Golden Sands (Is) .. 0 16 Martha (cum div., 5s) 0 10 6 Moonlight Gold. (8d) 0 0 4i 0 0 51 Mossy Creek (Is) — 0 10 Nemona (Is) 0 1 3 0 15 New River (Is) .. 0 0 6J 0 0 9 Nokomai (5s) 0 1 2 0 19 Skippers, Ltd. (Is) .. — 0 0 1 Skippers, Ltd. (pf.. Is) —— 0 0 5} Waihi Invest. (5s) .. 0 7 9 Worksop Extend. (Is) 0 0 10J 0 12 Australian Mining Broken Hill Sth. (5s) 1 8 4 1 R 11 Mount Lyell (£1) .. 1 6 6 16 9 Mount Morgan (2s 6d) 0 10 4 0 10 8 North Broken Hill (ex div., 5s) 2 S 8 2 3 11 Rawang Tin (ex div., 10s) 0 7 1 0 7 9 Wellington Alluvials 0 4 10 0 5 1

£ s. d. 100 Anthony Hordern 0 14 6 200 Taranaki Oilfields (2) D'll 6 - 150 Mount Lycll (2) 1 6 9 Sales Reported 50 Canterbury Frozen Meat 9 10 0 50 Broken Hill Pty. 2 15 4 100 Broken Hill Pty. (contr.) 1 16 10 50 G. J. Coles 3 15 0 200 Hume Pipe (Aust.) (cum div.) 0 18 6 200 Taranaki Oilfields (2) 0 ll 8 200 United Provisions (cum div.) ITlVI,ISTEn STOPK 0 7 0

Buyers. Sellers. |' £ s. d. £ s. d. N.Z. Govt. Debentures 3 p.c. Ins., 1941 — 98 5 0 3J p.c. Ins., 1953-57 .. — 94 0 0 4 p.c. Ins., 1943-46 .. 99 10 0 — 4 p.c. Ins., 1949 • .. 100 5 0 — 4 p.c. Ins., 1955 100 5 0 — 4 p.c. Bonds, 1949 100 5 0 _ 4 p.c. Bonds, 1955 100 5 0 — Other Debentures Banks Peninsula, 4J p.c, 1/4/65 ■— •' 02 0 0 Ashburton Power Brd., 4i p.c, 1/2/56 —■ 104 0 0 Tolaga Bay, 41 p.c, 10/9/60 — 102 5 0 Napier Harbour, 4.i ; p.c, 30/9/50 —• 102 0 0 Oxford County, 4J p.c, 1/4/61 —~ 105 10 0 Waltemata Power Brd., 41 p.c, 1/12/64 .—. 104 0 0 Gisborrie Sheep, 6J p.c. 31/8/41 101 0 0 —•• Booth, Macdonald, 5 p.c, 1/6/47 69 0 0 — Dominion Fertiliser, 71 p.c, 1/2/41 .. 102 0 0 — Banks Australasia (cum div.. £5) 10 2 6 10 7 0 Comm. of Aust. (10s) 0 14 10 0 15 9 Comm. of Sydney (£12 10s paid) — 20 0 0 E., S., and A. (£3 pd.) 4 18 0 — Natl, of N.Z. (£2 10s paid) 2 11 9 — N.S.W. (£20) 29 0 0 — New Zealand (£1) 2 1 5 2 2 0 Queensland Natl. (£5) — 5 2 6' Insurance National (7s paid) 0 15 6 0 16 6 New Zealand (El) — 2 14 6 South British (10s) .. — 2 4* 0 Standard (£1 paid) .. — 2 15 0| Loan and Agency Dalgety and Co. (£5 paid -. — 8 0 0 Goldsbrough. M. (£1) 1 5 0 — N.Z. Guar. Corpn, (cum div., 3s) 0 4 0 — United Bldg. (cum div., £1) 1 0 3 1 1 6 Frozen Meat Cantby. (£7 10s paid) 9 7 6 — Canterbury (pf., £5) —- 6 10 0 Gear (10s) • .. — 0 14 6 North Cant. Freezing (pref., £1) 0 16 0 .— Southland (£1) — 1 10 9 Woollen s Kaiapoi (17s paid) ' — 0 11 0 Coal Grey Valley (£1) — 0 11 0 Westport (10s) — 1 4 G Westpor.t-Stockton (10s) 0 3 0 — Westport-Stockton (pf.. 10s) 0 5 6 0 7 0 Ga s Auckland (£1) _ 1 0 0 Christchurch (£1) — 1 7 6 Breweries Crown (in liqdn.) 0 1 0 — New Zealand (£1) .. 1 19 0 2 0 0 Timaru (in liqdn.) 0 0 9 0 1 0 Tooths (£1) 2 8 6 2 12 0 Miscellan BOUS Alloy Steel (N.Z.) (£1) 1 1 3 1 3 6 Amalg. Wireless (cum div.. £1) — 3 6 0 Amalg. Wireless (17s pd., cum div.) ■ 2 18 0 Anthony Hordern (£1) 0 14 10 0 15 9 Beath and Co. (cum div., £1) 0 19 0 1 1 0 Berlei (N.Z.) (£1) .. 2 19 6 — Booth, Macdonald (pf.. £1) . — 0 2 0 British 'Tobacco (cum div., £1) 2 5 3 2 6 3 Broken Hill Pty. (£1) 2 15 2 2 15 6 Broken Hill Pry. (con., 10s paid) 1 16 3 1 17 H

Sales on 'Change 3i p.c. Ins. Stock, 1953-57 (2) 93 0 d. 0 4 p.c. Ins. Stock, 1946-49 (2) 100 10 0 3J p.c. Ins. Stock. 1939-43 98 5 0 Bank of New South Wales nn 30 0 0 Bank of New Zealand •* 2 I 41 Renown Collieries (pref.) 2 1 0 2 6 5 Westport-Stockton (ord.) *• 0 3 6 Dominion Breweries (ord.) «*> 1 10 0 British Tobacco tm. 2 4 3 Broken Hill Pty. ., 1 2 15 3 Farmers' Trading 4, 0 19 5 G. J. Coles 2 Taranaki Oil «L Woolworths (Sydney) X I 3 15 6 0 12 0 0 19 3 0 19 5 Waihi Investments r 0 19 ** 0 7 8 Emperor Gold 4> 010 4 Mount Lyell 4* 1 7 0 Mount Kasi .. . 0 4 3 Unofficial List Whakatane Paper Mills • • 0 3 9 Selfridges (N.Z.) (16s pd.) ... 0 4 9

The following dividends have been an- 1 nounced or recommended:— Cox Bros. (Australia) —final A and B pref., 7 p.c. p.a.; ord.. 15 p.c. p.a. .. ... To-day Felt and Textiles, Ltd., Sydney-Half-yearly, 5 p.c. at the rate of 10 p.c. p.a. To-day Dunlop-Perdriau Rubber—final. pref., 5 'p.c. ord., 3i p.c. Bank of Australasia —interim 3s To-day 6d sterling a share To-day British Tobacco—quarterly, 2 p.c. To-day Bricks and~Mortar, Ltd., Sydney —interim quarterly at 8 p-c. p.a. Joseph Nathan and Co., Ltd.— To-day half-yearly at 8 p.c. p.a. on preferred ord. Oct. 1 Whittome, Stevenson, Auckland —7 p.c. Oct. 3 Hume (Aust.) Pipe, Ltd., Australia —final, ord, 41 p.c. making 71 p.c. p.a.; and new pref., 71 p.c. p.a. Oct. 3 N.Z. Newspapers, Ltd.— interim half-year, 8d a share Oct. 5 Myer Emporium, Melbourne— final, 3 p.c, and bonus 3 p.c, making 9 p.c. p.a. Oct. 5 Yarra Falls, Melbourne—final 5 p.c, making 10 p.c. p.a. Oct. «