FINANCE & COMMERCE

Dominion, Volume 37, Issue 196, 17 May 1944, Page 8

FINANCE & COMMERCE

STOCK EXCHANGE

Sales tn New Zealand Dealings in stocks and shares recorded on New Zealand Stock Exchanges yesterday were as follows, the number ot shares in cacti lot.being sbowu in the case of Wellington:—

’ AUCKLAND. laser. Stock, 3 per cent., 15/5/53-58, £99; ditto, 3 per cent.,, 15/12/sb-06, £IW 2/(1; ditto, 3J per eent., .15/9/57-60, £102; ditto, 3A per cent., 15/l/53-07, £104; Com. Banking Co. of Sydney, £22/10/-; Bank o£ N.Z. (2), £2/4/2; N.Z. Guarantee Corp., 4/3; Farmers’ Trading, £l/7/-; Morris Hedstrom (2), £2/2/6; Woolworths (Syd.i, 19/9; Woolworths (N.Z.) (2), 18/3: Martha, 9/3; Walk! Investments, 5/4. Unolllelal list: Fletcher Holdings, £l/5/3. CHRISTCHURCH. laser. Stock, 3 per cent., 15/12/53-56, £100; ditto, 3 per cent.. 13/1/33-37 (-). £lO3/15/-; ditto, 4 per cent., 15/4/46-19, £lO2/10/-; Com. Banking Co. of Sydney, £22/10/-; Nat. Bank of N.Z., £2/15/-; Bank of N.S.W., £36/16/6; National Insurance (2), £l/4/6; N.Z. Refrig., £1 paid, £l/7/6; Westport-Stockton Coal, 3/4; N.Z. Breweries, £2/1/-; Beatb and Uo., £1 10/-; Electro. Zinc, ord., £2/18/-; ditto, pret., £2/19/-.; Macduffs, Ltd., pref. (2). £l/6/0; M.K. Manufacturers lodd lott), 7/1; Mt. Lyell. £l/13/3. DUNEDIN. laser. Stock, -1 per cent., 15/4/46-49, £lO2 10/-; National Insurance (2), £l/4/6; Southland Frozen Meat, £2/6/-: Bruce Woollen (odd lot), £l/16/9 • Broken HIU Pty., £2/4/6; Claude Neon (N.Z.), £l/6/2; Dominion Rubber, 7/6: Macduff’s. Ltd., pref., £l/6/-. RESERVE BANK Note Issue Lower The sterling exchange funds of the Reserve Bank on May 8 totalled £29,525,803, a decrease of £136,349. The note issue at £37.007,358 shows a decrease for the week of £45,614. The statement, as at Monday, Mav 8. is ns follows: —

Proportion of reserve to notes and other demand liabilities, 39.068 per cent., compared with 39.320 per cent, on May 1. The reserve on May 8 was a decrease of £441,365. A year ago the reserve was £26,077,470. Sterling exchange on May 8 amounted to £29,525,863, a decrease of £1u6,J41). Liabilities in currencies other than New Zealand currency total £313,102 (an increase of £305,016), thus making the bank's net overseas assets £29,-l-,711, compared with £29,654,076 on May 1, a decrease of £441.363. A year ago these assets were £23,275,593. Advances to the State Marketing Department total £3,134,473, a decrease Of £375,764. A year ago they were £i,987,785. Advances to the State for other purposes remain unchanged at £3u,BBo,(K)U, compared with £31,135,000 a year ago The note issue on May 8 totalled £37,007,358, a decrease of £4u,611. A year ago it was £31,720,430, and two years ago Demand” liabilities to the Statd amount to £12,298,876, an Increase of £108,825, Tho trading banks' reserve baJa“CM total £31,7-54,333, a decrease of £1,020,601. Other liabilities at £885,941 have increased "statement balances at £85,912,919, a decrease of £280,722. • Australian Wool Clip The Australian wool clip since the war has shown an increase of about 400,009 bales per annum, compared with the prewar total. The estimated production for this season is 3,625,000 bales. Except Tasmania. all the States have shown expansion. New South Wales production has advanced 20 per cent.. West Australia 20 . per cent.. Victoria 15 per cent., Queensland 9 per cent., and South Australia 5 per cent. . The rise in the figures generally recorded indicates the encouragement stabilized prices have given to producers, state Winchcombe, Carson, Ltd. Seasoual conditions have played their part by providing pasture for the stock, but if prices for wool and stock had not been satisfactory the expansion probably would dot have occurred. Fairly heavy slaughtering has prevailed during the wartime years A large percentage of the stock killed, however, have been lambs bred specially for the purpose. In the 1914-18 war. Production of fat lambs in the Commonwealth was much smaller than today. Mutton exports far exceeded lamb shipments, the reverse now prevailing. Returns for wool were more profitable than present figures but sheep numbers only increased 4,000.000 during the period and at the close of the war the clip was. about the same total as when It started, approximately 2,000.000 bales Bad seasons had affected sheep numbers, but the high proportion ot grown sheep slaughtered contributed to the Position. ,

No. of WELLINGTON. Sale I’rice. shares. & s - “• £3506 laser. Stock, 3 per cent., 15/12/33-56 WO 0 0 £45110 Ditto, 31 p.C., 15/0/57- _ dll 101 !•> 0 22 Bank of N.S.W. (2) 36 16 0 37 a N.Z. Guarantee Corp 0 4 3 300 National Ins. (2), ex div. 1 4 0 100 Taupo Totara Timber «. 0 3 o 70 Washington H. Soul .... 3 15 0 350 Woolworths (N.Z.) 0 18 5 e.'.Jl'B7ernt Fra !ui298abl.e there should

liabilities. £ s. d. General reserve fund 1,500,000 0 0 Bank notes 37,007.358 10 0 Demand liabilities— (a) State 12,298,8 fa 10 10 (b) Banks 81,754.332 12 10 (c) Other 885,940 la 11 Liabilities other than in „ ,, N.Z. currency 313,lj- 0 11 Other liabilities 2,la3,238 19 a ■' £ (N.Z.185,912,918 10 2 ASSETS. K Ta e ) r Goi<l 2,801,877 10 6 ((b) Sterling exchange .. 29.525,803 6 9 Subsidiary coin *••• a*-.7b8 a lu Advances to the State— , ,, n (1) Marketing Kept 11 11 (2) For other purposes . Jo,8j»,0OT 0 o Investments o 2 Other assets 2,778,oVO V £(N.Z.)85,912,918 10 2