COMMERCIAL

Press, Volume LXXIX, Issue 23964, 3 June 1943, Page 6

COMMERCIAL

STOCK EXCHANGES MODERATE TURNOVER AT CHRISTCHURCH There was a moderate turnover on the Christchurch Stock Exchange yesterday. Apart from vestibule business, the following transactions were recorded:— Sales on ’Change.—Listed Stocks: £3OO N.Z. Govt., 4 p.c. Stock, 1949-52, £lO4. Sales Reported.—Listed Stocks: £3OO N.Z, Govt., 3 p.c. Stock, 1953-ss, £O7 17s 6d; 100 National Bank of N.Z. (late sale on Tuesday), 51s; 50 New Zealand Insurance, 80s; 150 South British Insurance, 70s; 25 Wellington Woollens (pref.), (late sale on Tuesday), £8 7s 6d; 160 Electro, Zinc (ord.), 565; 150 Grey River (cum div.), 14s 6d. Latest Quotations N.Z. Govt. Debentures.—3 p.c. Stock, 1952-55. s, £9B 12s 6d: 3 p.c. Stock, 1953-56,-b. £97 15s; 4 p.c. Stock, 1946, b. £lOl 10s; 4 p.c.. 1949-52, b. £lO3 17s 6d; 4 p.c., Stock. 1952-55, b. £lO7 10s; 4 p.c. Bonds, 1949, b. £lO2 10s. Banks—Commercial of Aust. (pref.), b. £lO ss; s. £lO 15s; National of N.Z., s. 51s 6d; New South Wales, b. £32 10s; New Zealand, b. 41s 6d. Insurance.—National, b. 22s 3d; New Zealand, b. 79s 6d; South British, b. 69s 6d. Loan and Agency.—Dalgety, b. £8 7s 6d; Goldsbrough, Mort (cum div.), b, 28s. Frozen Meat.—Canterbury (pref.), b. £7 18s. Woollens.—Bruce (pref.), b. 235; Kaiapci (17s paid), b, 21s 9d; Wellington (pref.), b. £8 ss, s. £8 12s 6d. Coal.—Westport, b. 24s 4d, s. 24s 9d. Gas.—Auckland, b. 7s 3d. Breweries.—Dunedin, b. 20s; New Zealand, s. 36s 9d. Miscellaneous.—Beath and Company (pref.), b. 245; Berlei. (N.Z.), b. 695; Broken Hill Pty., b. 42s 6d; Colonial Sugar, s. £55 15s; Donaghy's Rope (ex div.), b. 56s 9d; Electro. Zinc (ord.), b. 555, s. 565; Gordon and Gotch, b. 46s 6d; Hadfields, b. 10s, s. 20s; Hays, Ltd. (cont.), b. 275; Hume Pipe (Aust.), b. 13s 10d; Mascn Struthers (£1 paid), b. 14s; Mason Struthers (14s paid), b. 7s 6d; Morris Hedstrom (cum div.), b. 26s 3d; N.Z. Newspapers, b. 36s 3d; Olympic Tyres, s. 465; Sanford, b. 5s 9d; United Provisions, b. 13s; Weeks, Ltd., b. £lO 12s 6d; Whltcombe and Tombs, b. £5 ss; Woolworths (N.Z.), b. 15s 6d, s. 16s. Overseas Listings.—Woolworths (South Africa), b. 24s 6d. s. 25s 6d. Australian Mining.—Mount Lyell, b. 295, s. 29s 6d. New Zealand Mining.—Alexander, b. Is 6d; Arahura, b. 275; Grey River, b. 14s; Ngahere, s. 9s. AUCKLAND Sales.—Commercial Bank, 16s 6d; Bank of New Zealand, 41s 6d (3); Auckland Gas, 7s sd, 7s 6a; Woolworths (Sydney), 15s lid; Liberty Loan, 15/9/47, 2J p.c., £93 (2); Auckland Gas (perp. deb.), £B7 15s; K.D.V. Boxes, 11s 9d; Selfridges (A'asia), 21s; Wellington Wool (pref.), £8 7s 6d; Claude Neon (N.Z.), 255; Colonial Sugar, £55 10s; G. J. Coles. 555; Woolworths (N.Z.), 15s 4d; War Loan, 1/10/53, £93 17s 6d: Liberty Loan, 15/5/53-56, 3 p.c., £97 17s 6d. WELLINGTON Sales.—3 p.c. Inscr. Stock, 1942-55. £9B 10s; 3 p.c, Inscr. Stock, 1953-56, £97 17s 6d, £9B; 4 p.c. Inscr. Stock, 1943-46 (2), £lOl 10s; Wellington Woollen (ord.), £8 ss: N.Z. Breweries, 375; Claude Neon (N.Z.), 255;. G. J. Coles, 555. DUNEDIN Sales Reported.—lns. Stock, 3 p.c., 195154, £9B 15s; Bank of N.Z., 41s fid; D.I.C. (ord.), 17s sd: Woolworths (Sydney), 15s lOd; Electrolytic Zinc (ord.), 56s 3d. SYDNEY Trading was quiet on the Sydney Stock Exchange yesterday at steady rates. Sales.—Union Bank. £6 17s; A. Hordern, 16s 3d; Falrymead Sugar, 28s 6d; Tooths 565; Fresh Food, 11s 3d; Standard Cement, 21s 3d; Adams, 15s 3d; Broken Hill Proprietary, 40s; Mt. Morgan, 10s 2d; Morts Dock, 20s 3d. RESERVE BANK RETURN (P.A.) WELLINGTON, June 2. The Reserve Bank return for the tVeek ended May 24, with the previous week’s figures in parenthesis, is:— Liabilities.—General reserve fund, £1,500,000 (same); bank notes, £31,879,353 (£31,688,420); demand liabilities: State, £14,088,219 (£14,403,684); banks, £33,110.240 (£31,862,118); other, £663,155 (£431,5651; liabilities in currencies other than New Zealand. £15,652 (£15,622); other liabilities, £1.778.212 £1,764,598); total £(N.Z.)83.034,831 (£81,646,007). Assets.—-Gold, £2,801,878 (same); sterling exchange in New Zealand currency, £28,083,567 (£25,006,901); subsidiary coin, £67,057 (£68,042); advances; to the Marketing Department. £8,172,773 (£8,872,590); for other purposes, £31,135,000 (same); Investments, £10,294,427 (£10,294.482); other assets, £2,480,128 (£3,467,113); total, £(N.Z.)83,034,831 (£81,646,007). Proportion of reserve to notes and other demand liabilities, 38.713 per cent. (35.446 per cent.). MINING Okarlto Return.—The Okarlto FiveMile Beach gold dredging return is 13oz for 124 hours from 5100 cubic yards.— (P.A.) Barrytown-Kanierl-Arahura.—May returns: Barrytown dredge, 5480z, 442 hours, 184,000 yards; Kanieri dredge, 6250z, 507 hours, 200,000 yards; Arahura dredge, IOOOoz, 566 hours, 246,000 yards.—(P.A.) Austral-New Zealand Mining, Ltd.—For the 14 days ending at midnight on May 29 the dredge of Austral-New Zealand Mining, Ltd., produced 202 ounces of bullion in 234 hours. Blackwater Mines.—The Blackwater Mines return for the four weeks ended May 21 showed that 2529 tons had been crushed, yielding 1155 ouncep of gold from all sources, the value of which (taking gold at 168s a fine ounce) was £8702. Working expenses, not including ordinary or war duty, were £7133. Development expenditure was £lB5, and capital expenditure £440. The lower output was attributed to the occurrence of holidays. During the period, No. 15 level drive north was advanced 26 feet on reef averaging 12.93 dwts over a width of 65 inches. No. 15 level drive south was advanced 35 feet on reef averaging 21.23 dwts, over a width of 30 inches.

RABBITSKIN SALE

" The Press ” Special Service DUNEDIN, June 2. The Dunedin Stock Agent? and Woolbrokers’ Association reports that approximately 60 tons of rabbitskins were offered to a full bench of buyers. The sale was inclined to be a -little erratic, but there was a good demand for all grades of winters, and values for these, as compared with the few offered in the previous auction, were very firm. Demand for autumn and Incoming grades was not so strong, more particularly for spotted sorts, which were 3d to 15d per lb lower. Low grades were generally firm. The official range of prices is; First winter bucks, 190 d to 192 d: first winter does, 175 d to 188 d; second winter bucks, 182 d to 184 d; second winter does, 165 d to 178 d: spotted winter bucks. 166 d to 180 d: spotted winter does, 154 d to 165 d; outgoing winter bucks, 150 d to 180 d; outgoing winter does. 140 d to 148 d; spring bucks, 114 d to 136 d; spring does, Hid to 124 d; early winter bucks, 186 d to 189 d; early winter does, 170 d to 178 d: second early winter bucks, 176 d to 182 d; second

early winter does. 150 d to 157 d; incomings. 177 d to 180 d; second incomings, 150 d to 163 d; late autumns, 165 d to 169 d; second late autumns, 140 d to 145 d; early autumns, 140 dto 150 d; second early autumns, 136 d to 139 d; dawny autumns. 116 d to 122 d; prime racks, 102 d to 105 d; light racks, 103 d to 107 d; runners, 85d to 86Jd; small, 43d to 43Jd; summers, 62id to 71d; milky, 71d to 74d; winter broken. 97Jd to 103 d; second winter broken, 88d to 97Jd: summer broken. 63d to 66Jd; winter blacks. 172 d to 176 d; second winter blacks, 154 d to 158 d; winter fawns. 129 d to 176 d: second winter fawns, 97d to 139 d; hareskins, 40d to 62id; first ferret skins to 14s Bd. The next sale will be held on June 19.