COMMERCIAL

Press, Volume LXXXII, Issue 24911, 26 June 1946, Page 10

COMMERCIAL

STOCK EXCHANGES MARKETS CONTINUE FIRM Markets continued firm on the Chrischurch Stock Exchange yesterday, and there was an increased turnover in a wider range of stocks. The following transactions were reported:— Sales on ’Change.—Listed stocks: £BOO N.Z. Govt. 3 per cent. Stock. December, 1953-56, £99 15s; £3OO N.Z. Govt. 3 per I cent. Stock, 1955-58, £lOO 7s6d; 50 National Bank of N.Z., 63s (ex div); £lOO N.Z. Farmers’ Co-op. (4J per cent. Stock, 1950), £103; £5OO N.Z. Govt. 3 per cent. Stock, December, 1953-56, £99 15s. Sales Reported.—Listed stocks: £3OO 2 J per cent. War Loan, 1953, £97 7s 6d; £3225 N.Z. Govt. 3 per cent. Stock, 1960-63, £100; £3140 N.Z. Govt. 4 per cent. Stock, 1952-53, £lO4 15s; 1200 National Insurance, 28s 9d; 450 National Insurance, 28s 9d; 100 Australian Consolidated Industries (late sale Monday), 63s 6d; 100 Chas. Begg and Co. (late sale Monday), 31s; 200 Frozen Products, 23s 8d; 300 Frozen Products, 23s 8d; 110 Macduffs, Ltd. (ord.), 22s 3d; 1000 Taupo-Totara Timber, Ils OJd; 100 Emperor Fiji, 19s 3d; £5OO Timaru Borough, 4J per cent., 31/3/47 (late sale Monday), £lOl ss. LATEST QUOTATIONS N.Z. Govt. Debentures: 3 per cent. Inscr., 1/8/51-54, b. £lOO 17s 6d; 3 per cent. Inscr., 15/12/53-56, b. £99 15s, s. £99 17s 6d; 3 per cent. Inscr., 15/2/55-58, b. £lOO 7s 6d; Liberty Bonds, b. £1 Is 8d; Wool Bonds, 1/2/49, b. £1 Is Id, s. £1 Is 2d. Banks: National of A’asia. (£5 paid), b. £7 8s; National of N.Z., b. £3 3s. Insurance: National, b. £1 8s 6d, s. £1 9s; New Zealand, b. £5 ss. Loan and Agency: Dalgety, b. £9 12s 6d, s. £10; National Mortgage A (ek div.), b. £4 Is; N.Z. Farmers’ Co-op. (Ist pref.), b. £5 15s; N.Z. Farmers’ Co-op. (41 per cent. Stock, 1950), b. £103; N.Z. Loan and Merc, (ord.), b. £BO 15s, s. £B3. Shipping: P. and 0., b. £3 9s, s. £3 Us 6d. Frozen Meat: North Canterbury (pref.), b. £1 3s 6d. Woollens: Kaiapoi (17s paid), b. £1 6s 6d; Oamaru, s. £1 14s; Timaru, b. £1 4s 6d. Gas: Timaru, b. 13s, s. 15s; Auckland, b. 7s. Breweries: Ballins, b. £1 8s; Dominion (cum div. and bonus), b. £3 6s 6d. Miscellaneous: Aust. Found. Invest., b. 6s 2d, s. 6s 4d; Bea th and Co., b. £1 19s 6d, s. £2. Is 6d; Berlei (N.Z.), b. £5 15s; Broken Hill Pty., s. £2 12s 6d; Consolidated Brick, b. Ils 3d, s. 12s; Dominion Fertiliser (cum div.), b. £1 7s; Electro. Zinc (ord.), b. £3 7s 3d; G. J. Coles, b. £4 8s 6d, s. £4 9s 6d; Henry Jones, b. •£2 18s 6d, s. £3 2s 6d; Hume Pipe (Aust.), b. £1 3s 9d; Macduffs (pref.), b. £1 2s; Radio (1936). b. £1 3s, s. £1 4s; Selfridges, b. £2 2s 9d; Silknit, b. £1 13s; Taranaki Oilfields, s. 2s 3d; Taupo-Totara, b. Us; Wilson’s Cement, b. 18s 8d; W. R. Carpenter, b. £2 Bs. Overseas Listings: Woolworths (South Africa), s. £2 12s. Australian Mining: Placer Development, b. £6 3; Rawang Tin, b. 10s. N.Z. Mining: Grey River, s. 10s lid; Kanieri, s. £1 4s; Ngahere Deferred, b. 6s 9d.

AUCKLAND Sales.—War Loan, 1/10/53, 2J per cent. (£1000), £97 7s 6d; Ins. Stock, 15/6/47-49, 24 per cent. (£650), £99 2s 6d; Ins. Stock, 15/4/49-51, 2J per cent. (£2065), £9B 10s; Ins. Stock, 15/4/50-51, 24 per cent. (£900), £9B 10s; Ins. Stock, 15/4/56-59, 3 per cent. (£1200), £100; Ins. Stock, 15/11/57-60, 3 per cent. (£1465), £99 15s; Ins. Stock, 15/1/5357, 34 per cent. (£235), £104; Ins. Stock, 15/6/52-55, 4 per cent. (£200), £lO4 15s; Commercial Bank of Aus. (300), 22s 4d; South British Insurance (200), 90s 6d; Standard Insurance (100), 88s 6d; Auckland Gas (800), 7s 4d; Devonport Ferries (113), 325; National Timber (400), 7s lid; Taupo-Totara (ord.) (1600), Ils; Felt and Textiles of N.Z. (50), 51s 9d; Dominion Breweries (50), 66s 9d; A.C.I. (100), 63s 6d; British Tobacco (100), 58s; Broken Hill Pty. (100), 52s 3d; Claude Neon, N.Z. (100), 45s 6d; Claude Neon, N.Z. (50), 45s 9d; Colonial Sugar (5), £59 17s 6d; Farmers’ Trading (300), 32s 6d; G. J. Coles (75), 89s; Woolworths, N.Z. (300), 29s 3d; Emperor (100), 19s 3d; Ross and Glendining (400), 45s (unlisted).

WELLINGTON Sales.—Late Monday: Ins. Stock, 15/4/4951, 24 per cent. (£2065), £9B 10s; Ins. Stock, 15/12/53-56, 3 per cent. (£550), £99 15s; Woolworths Holdings (South Africa) (100), 50s. Yesterday: N.Z. Breweries (odd lot) (75), 55s 6d; Reid Rubber (new issue, fully paid) (100), 34s 9d; Ins. Stock, 15/1/53-57, 34 per cent. (£235), £104; Ins. ‘Stock, 15/9/52-55, 3 per cent. (£800), £lOO ss; Ins. Stock, 15/6/52-55, 4 per cent. (£3140), £lO4 15s; Ins. Stock, 15/11/57-60, 3 per cent. £1330), £99 17s 6d; N.Z. Guarantee Corporation (400), 5s 3d; National Insurance (1700), 28s 9d (2); Dominion Breweries (cum div.) (200), 66s 9d; Woolworths, Ltd. (ex bonus) (300 and 200), 29s 9d; Woolworths, N.Z., Ltd. (ex bonus and div.) (300), 29s 3d; Frozen Products (300), 23s 8d; Apex Investment (100), 5s 6d; N.Z. Forest Products (600), 5s 9d (2); Macduffs, Ltd. (ord.) (100), 24s 3d. DUNEDIN Sale on ’Change.— Fletcher Holdings (ord.) (100), 39s 6d. Sales Reported.—Union Steam (pref.) (650), 345; Milburn Lime (225), 35s 6d; N.Z. Express (ord.) (100), 10s 6d; Ross and Glendining (400), 45s (unlisted); Ins. Stock, 1956-59, 3 per cent. (£200), £100; N.Z. Refrigerating (con.) (120), 775; Ins. Stock, 1955-58, 3 per cent. (£2500), £lOO 10s; Ins. Stock, 1957-60, 3 per cent. (£1330), £99 17s 6d; N.Z. Refrigerating (con.) (200), 17s 7d; Dunedin Brewery (300), 33s 6d: Kaiapoi Woollen (ord.) (100), 26s 6d; Milburn Lime (100), 35s 6d; National Electrical and Engineering (60), 40s.

OVERSEAS TRADE FIGURES

EXCESS OF EXPORTS IN APRIL (P.A.) WELLINGTON. June 25. New Zealand trade returns for April, 1946, show an excess of . exports of £1,578,000, against an excess of imports of £ 169,000 in the corresponding month a year ago. An export excess of £14,278,000 is shown for the first four months of the current calendar year. The following are the figures, in New Zealand currency, import values including defence Materials and equipment, and lend-lease supplies : Month of April

RESERVE BANK RETURN ,(P.AJ WELLINGTON, June 25. The Reserve Bank return for the week ended June 17, with the figures for the previous week in parenthesis, isi— Liabilities.—General Reserve Fund, £1,500,000 (same); bank notes, £44,408,331 (£44,393,326): demand liabilities: State, £17,836,079 (£18,257,442); banks, £61,682.660 (£57,107,174); other, £472,282 (£362.312); liabilities in currencies other than New Zealand, £30,298 (£19,971); other liabilities. £3,544,569 (£3,530,171). Total £(NZ)129,474,219 (£125.170,396).

Assets.—Gold, £2,801,878 (same); sterling exchange in New Zealand currency. £84,640,481 (£81,625,638); subsidiary coin, £50,402 (£40,602); advances: to State Marketing organisations, nil (nil); for other purposes, £34,025,000 (same); investments. £4,016,242 (same); other assets, £3,940,217 (£2,661,037). - Total, £(N.Z.) 129.474,219 (£125,170,396). Proportion of reserve to notes and other demand liabilities: 70.267 per cent. (70.269 per cent).

STOCK SALES

TINWALD With the entry of fat sheep—especially wethers—well above the average yarding, the stock sale at Tinwald yesterday was’ a good one, the brisk demand holding throughout. Prices were maintained at recent rates for the higher qualities, although values for ewes eased slightly. The range for fat ewes was up to 17s 6d for light quality, from 20s to 21s 6d for prime, and from 22s to 26s lid for extra prime stock. Two-tooth ewes made from 31s Id to 32s lOd. while a number of store lines (three-shear, four-tooth, and failing-mouth sheep) made round the 20s mark. Lambs were in short supply, prices being 25s 6d to 30s 9d. Wethers made up to 49s for the heaviest qualitv, from 38s to 42s lOd for medium, and from 31s Id to 37s 4d for light-weights. In the cattle section, heifers made £6 7s 6d and £ll 7s 6d, and fat cows from £6 17s 6d to £7 17s 6d. RANGIORA No sheep were yarded at the weekly Rangiora stock market yesterday, but there was a fair yarding of pigs and cattle. Prices were as follows: Cattle.—Springing heifers, £l5; springing cows, to £l5 10s; heifer calves. £3. Figs.—Baconers. £5 3s; stores, 445; slips, 31s to 355. TEMUKA '* The Press’ special Service TIMARU, June 25. At the Temuka sale fully 60 head of fat cattle were, yarded, the majority being very fair to good quality Competition was very quiet from the outset, and values, with the exception of an odd beast, receded somewhat on recent sales. The two small races of fat sheep included some prime heavy ewes and wethers. Once again competition was not very keen, -but values held firm at late rates. Values were:— Fat cattle.—Prime heavy steers, £l7 2s 6d to £l9 2s 6d; light to medium, £lO 12s 6d to £l4 2s 6d; prime heavy heifers, £l2 17s 6d to £l6 2s 6d; light to medium, £8 17s 6d to £lO 12s 6d; prime cows,

£lO 2s 6d to £l2 2s 6d; 'light, to £6 17s 6d. Fat sheep.—Prime heavy wethers, 42s Id to 46s Id; prime heavy ewes, 22s lOd to 27s lOd; prime maiden two-tooth ewes, 38s 4d to 41s lOd. Store sheep.—E*we hoggets, to 26s 6d.

MINING

BLACKWATER MINES, LTD. th e four-weekly period ended June 14, the 1443 tons crushed yielded 409 fine ounces of gold from all sources. A review of development work at the mines for the four weeks ending June <4 was as follows: No -15 Level: Rise at 1155 N. was advanced 23 feet on reef averaging 15.49dwts over a width of 42in ' No. 16 Level: Drive south’was advanced 12 Ol \ averaging 9.4Bdwts over a width of 21m. Austral-New Zealand.—For the fortnight ended June 22 Austral-New Zealand mg operated for 235 hours, producing 420 ounces of bullion.—(P.A.)

Excess of Exports. Imports. Exports. 1946 .. 7,192.000 5,614,000 1,578,000 1945 .. 3,798,000 3,967,000 *169,000 Four Months to April 1946 . 35,142,000 20,864,000 14,278,000 1945 .. 24,403,000 17,302,000 7,101,000 ♦Excess of imports.