TRADE AND FINANCE

Evening Post, Volume CXVI, Issue 102, 27 October 1933, Page 10

TRADE AND FINANCE

PRODUCE & MARKET REPORTS FROM DAY TO DAY

STOCKS AND SHARES

BUSINESS QUIETER

A WEEK'S TRANSACTIONS

United Press Association—By Electric Tele-

graph—Copyright.

SYDNEY, October 26.

On 'the Stock Exchange today the market was much brighter, with buying activity over a large area of investments. Gold and tin issues also moved up sharply. Commonwealth bonds were irregular. Sales: Bank of New South Wales, £33 15s; Commercial Banking Co. of Sydney, £17 ISs; Bank of New Zealand, _4Ss 6d; Colonial Sugar, £61; Mercantile Mutual Insurance, 21s 6d; Australian Provincial Assurance, 11s lOd; Associated News, 20s ,9d; ditto, prof., 20s 7%d; How-ard-Smith,-12s 8d; Burns, Philp, South Seas; 325; British Tobacco, 38s 6d; Berlei, contributing, 14s 3d; Carlton Brewery, 435; Tooth's, 435; ditto, New Zealand delivery, 435; Toohey'e, 24s 9d; Dunlop-Perdriau, 19s; Anthony Hordern, 13s 2d; ditto, pi-ef., 225; Millaquin, Sugar,,29s; Electrolytic Zinc, 265; Lustre Hosiery, 17s 9d; Standard Cement, 16s 6d; David Jones, 355; Hume Pipe, 13s lid; Meggitts, 21s; United Privisions, 8s 2d; Kuala Kampar Tin, Us 3d; Mt. Morgan, 50s 3d; Bulolo Gold, £5; Mt. Lyell, 235; Broken Hill South, 6te "9d; North Broken Hill, 87s 6d.

;■■'. . "livening Post," October 27. B.usiriess on the Stock Exchanges of the Dominion this week has been curtailed by a bank holiday, but in any case its tone was quieteiv than has been usual of late. Government stocks show appreciation, and are very firmly- held. Local body loans continue in good demand for city issues. Bank shares are easier in price, but the insurance companies' shaves generally quoted are on a strong market. Sales of Government loans reported during the week have been as follows: — 3% p.c. stock (1938-52),' £101 15s, £101 12s 6d; ZYs p.c. stock (1939-52), £102 2s 6d; 4 p.c. stock (1040), £102 2s 6d, £102 ss, £102 10s, £102, £101 10s, £102; 4 p.c. stock (1946),\ £101 10s; 4 p.c. stock (1949), £100 10s; 4 p.c. etock (1955), £101 7s 6d, £101 10s. There ia an unsatisfied demand for 4 p.c. bonds of all maturities at £102 (1940), £101 10s (1946), £100 10s (1949), and £101 7s 6d (1955). City loans wanted include 5Ms p.c. Wei-, lington (1940) at £101 ss, 4% p.c. Wellington City (1943) at £102, 5% p.c. Auckland and Christchurch (1944) at £101 for both, 5% p.c Dunedin (1944), £101 10s. Company debentures in demand were 6% p.c Wellington Gas (1941) at £101 10s; 6 p.c. and 6% p.c. Auckland Gas (1942 and 1935) at £104 and £102 10s respectively; rM p.e. Glaxos(l94s) at £83; 6& p.c. Gifiborne Sheepfarmers (1941)^at £84; 8 p.c. Wellington Racing Club (193?) at £95. Sales of local body and company debentures were reported as follows:— 5% p.c. Auckland Hospita 1 Board (1955), £99; 5% p.c. Auckland Harbour Board "(1961), £103 ss. a 7% p.c. Amalgamated Brick, Auckland (1944), £93. BANKS, INSURANCE, FINANCE. Bank shares f6r which there was a.keen inquiry included Bank of Australasia at ■£12 10s, sellers £13; Queensland National at 57s 6d; Bank of New South Wales at £33 10s. Sales were reported as follows:— • Bank of New Zealand, 46s 6d, 465, 46s 3d 46s Id, 475, 45s 6d, 45s 7%d, 45s 9d, 46s 46s 3d, 46s sd, 46s 6d, 46s 3d; Commercial Banking Co. of Sydney, £17 19sVE.S. and A. Bank, £5 13s £5 14s, £5 14s 6d, £5 13s 6d; National Bank ot Australasia (£10), cum div, £13. 1&; Commercial Bank of Australia (pref.), £8 15s, £8 16s, £8 15s, and ord. 16s lOd, 16s Hd; National Bank of New Zealand, 83s; Union Bank, £10 7s, £10 6s. _ Demand for insurance shares included Australian Provincial at 11s 3d, Mercantile Mutual at 19s, arid Standards at 60s. Bales were reported as under:— ■National, 18s sd; New Zealand Insurance, 54s Bd, 54s 4d, 54s 6d; South British, . 745, 73s 9d, and ex div. 71s 9d; Queensland, 59s 9d. . Pastoral and financial companies' shares in request, but o£ which no sales were reported, weue Dalgety and Co. at £10'7s 6d to £10 15s, sellers quoting £11. Wright, Stephenson (ord.) had buyers at 10s. Sales in this section were as follows:— Farmers' Co-op. Auctioneering, 565; Goldsbrough, Mort, 295,'29s 6d; National Mortgage A, 53s 9d; N.Z. Guarantee Corp., 8s 4d, 8s sd. COAL AND OTHER SHARES. Coalmine' shares wanted included Pukemiros at 17s 6d to 18s, sellers asking 21s 6d- Kaitangafas at 21s 6d, and WestportStockton (pref.) at Is 9d to Is lid; Taupiri (ord.) at 14s. Sales were almost negligible. Business done in shares in this and succeeding sections referred to is reported below. Gas shares remain steady. Gisbornes had buyers at 4s 6d, with no disclosed sellers. Brewery shares • other than those of which sales were reported were wanted with bids for Carltonß at 41s 6d, and Monteiths at 10s. Freezing companies' shares inquired for included Gears at 3is. Woollen shares appear to be strongly held. The Wellington Company s ordinary shares had buyers at'£s 2s 6d, but no sellers below £5 12s 6d. Timber shares have had a little more inquiry, with buyers of Leyland-O'Briens at 18s 9d, Nationals at 6s 3d, Taringamutus at Is 6d to 2s 3d. Shipping shares wanted were Union Steam (pref.) at 24s 9d, and P. and O. deferred at 245. Sales in the above-named sections were reported as follows: — Coal.—Westport, 13s 9d. Gas.—Auckland, 23s 7d, 23s 6d, 23s sd, 23s 4d; Christehurch, 275; Wellington, 345. '.' „ . Breweries. —New Zealand Breweries, 37s 36s Od, 3Gs, 36s Id; Staples, 28s 7 J/2d, 28s Od; Toohey's, 24s 6d; Tooth's, 425, 42s 3d, 42s 2d, 42s Id. Freezing Companies. -- Canterbury Frozen Meat (ord.), £10 ss, £10 10s; New Zealand Refrigerating (10s), 9s 4d, 9s 6d 9s sd, 9s 4d, 9s 3d, 9s 2d, 9s 3d/ 9s sd, 9s 4d, and (£1) 19s 6d,, 19s 9d, 19s Bd, 19s 7d. , r Woollens.— Kaiappi (pref.), 16s; Mos;giel, £9 7s 6d. Timber. —Kauri Timber, 15s. Miscellaneous— ' Anthony Hordetn, 12s lOd. ■ Beath's (Is), 6s Id; British Tobacco, 37s 8d; Burns, Philp, 53s 6d, 53s 7d, 53s 9d; Bycroft, Ltd., 40u. Colonial Sugar, £61. Diinlbp Rubber, 18s 9d, 18s lOd; D.I.C. (pref.), 245. • Electrolytic Zinc (ord.), 25s sd, 25s 6d 25s 3d, 25s 4d, 25s 3d. Henry Jones Co-op., 38s Od, 37s 6d. Mount Lyell, 23s 3d, 22s Bd, 22s 9d, 22s lOd. ■ N.Z. Newspapers, 27s 6d; N.Z. Paper Mills, 28s 3d, 2Ss; N.Z. Drug, 705,. 70s 3d, 70s. "Otago Daily Times," 45s 6d. Wilson's Cement, 27s 6d; Woolworth's, N.Z. (pref.), 355. Unlisted: National Tobacco, 655; New Zealand Perpetual Forests, 46s 6d; Invest. Exe£. Trust, B debs, £95, £98, and B (2nd series), £94; Were's Investment Trust (ss), 4s 6d.

MINING NEWS

LATEST REPORTS New mining companies registered are reported by the "Mercantile Gazette" as follows:— Moonlight Goldfields Co., Ltd., Christchurch. Capital: £35,000 into 700,000 shares of Is each. Subscribers: J. O. S. Wallace 200, S. T. Peters 2000, G. S. Jonathan '2000, P. W. Fryer 24,000, ,T. E. Forbes 5000, H: H. Cook 5000, R. A. Yodng 200. Objects: -Mining and incidental. Glenroy Gold, Ltd., Christcluuch. Capital: £16$00 into 320,000 shares of Is each. Subscribers:. S. G. Holland 2000, G. H. Wood 4000, J. W. Stewart 4000, H. L. Wiggins 4000, J. R. Mcllraith 4000, J. Melntyre Stewart (Dunedin) 4000. Objects: Mining and incidental. MINING RESEARCH, LTD. The Directors of the Milling. Research Co.. Ltd., report having received from Mr. H. S. Burleigli, mining engineer, his report on the Collingwood claims at Para Para, held under option by the company. His investigations covered eight days. ■ Mr. Burleigh reports an ample water supply,, the choice of three supplies being available, and' recommends iJiiiiimiiiiiiimiiiiiiMiiiiiiiiiiiiiiiiiiiiiiJ: = (The Stock and Share List will be = = ' found on Page 3.) E niiiiiiiiijiiiiiimiiiiii!iiimiiiiiiiiiiiiiiii£ adoption of a scheme capable of bringing in fifty heads at a pressure of 500 ft, the cost being approximately £6000. The area under consideration is approximately 150 acres of virgin, country, and was very well reported ou by Sir James Hector in 1892 (Government geological survey party), and he estimated the value of the wash to average from 1 to 4 dwts per cubic yard. Mr. Burleigh's estimates coincide with and confirm this, his values per cubic yard from seventeen samples being as follows:—No. 1, 10s; 2, Is 3d; 3, £5; 4, 17s 7d; 5, £2 10s; 6, £1 14s; 7 and 8, 12s; 9, 16s; 10, 7s; 11, £1 14s; 12, 18s; 13, 3s; 14, 2s; 15, Is lOd; 16, ss; 17, 12s. All values calculated at £i per ounce. Estimated costs of treating this deposit should not exceed 2d per yard. As these values are high, the directors considered it advisable to have a check made, and have instructed Messrs. Vickerman and Lancaster, of Wellington, to make this cheek, and at the same time to advise as to the cost of bringing in fifty heads of water. LONG TRAIL GOLDMINING. The directors of Long Trail Goldmining Co., Ltd., report as follows:—Claim recently inspected and reported upon by Mr. Niven Buchan, A.R.S.M., D.1.C., in conjunction with Mr." Caisley, mine manager, with view to' advising regarding further development to be put in hand shortly when capital available. Both advised that the claim warranted more expenditure in this direction and that this advice .is justified is more than borne out by results obtained during last two weeks? Reef now picked up beyond fault in two levels and a line body of ore of high assay values- is exposed, averaging from .1 to 7 ounces per ton. Width of lode approximately. 20ft. Ore being broken out and transported to battery, for treatment. ■. This rich run of stone now been driven on for a distance of slightly over 60ft and there is every prospect of a large body of high-grade ore being available. With the ore in sight it will now be possible to keep mill running continuously until ■ Christmas and payable returns can now be looked- forward to.

PRICE AND RETURN

' Iii the"table"lfereunder, notified skies'on the Stock Exchange for the week ended noon,, October-26,- are recorded with the.highest and lowest prices received, and the approximate yields per cent, per annum-redemption and brokerage beins considered on Government and other, debentures where dated. Returns are based on the highest prices reported during the week,, and the last annual .dividends. pTus bonuses, if any.- The 3% per, cent. Government stock and bonds are free of income tax to their pre^con version maturity dates, but all yields are subject to any appropriate taxation and exchange.; ; j Xiast Market price. Yield. INVESTMENT. - ■•-ffighesfc .Lowest. ; p.c.p.a , Percent. £ « d £ i d *. s a Government Loans— - - , Stock (1938-52) .....a, 3% 101 I* 0 10112 6 3 8 7 1 Stock (1939-52) a. 3% ~ n ''51 Stock (1940) a. 4 302 10 0 10110 0 31 , Kfncif n<)4fi1 .. ..a. & 101 10 0 — •> in 11 Stork (1949) a 4 100 10 0 - 3 18 0 slock xuhj) •■». * •? 10 n Stock (1955) .-a. 4 1011° ° 101 7 6 3 19 0 Local Body and Company Debentures— ' Amalg. Brick, Auck. (1944) a.u. iW 03 0 0 - « 12 2 Auck. Harb. Board (1961) ....a.u. 5% 5' 2 "~ r « 7 Auck. Hospital Board (1935) a.u. Cfe 99 0 0 ' — J 15 7 Bank of New Zealand , ...*v. 11% 2 7 0 2 5 6 4 lo 9 Bank of New South .Wales .... 5 1/* 34 7 6 - 311 Commercial of Australia 5 0 16 11 0 lb 10 2 10 1 Commercial of Australia (pref.) .4 8 16 Cl 8 la 0 4 10 11 Commercial of Sydney ......... 5 17 10 0 - . 3 9 8 E.S. and A 5 5 14 0 0 13 0 2 12 o National of N.Z 4 4 3 0 - 2 8 2 National of Aust. (£10) »5 13 12 0 - 3 13 6 Union of Aust. 5 10 7 0 10 G 0 2 8 4 Breweries— N.Z Breweries 7 1 17 0 116 0 3 15 8 Staples 5 18 9 1 8 7% 3 9 7 TooheyV 6 14 6 - 3 18 4 Tooth's , 8 223 220 3 15 9 Coal— Westport .........«..:,,,.;►, 8 0 13 9 , . — 3 12 9 Finance and Pastoral— Goldsbrough Mort 2% . 19 6 19 0 113 11 N.Z. Guarantee Corp 31-8 0 8 5 0 8 4' 2 19 5 National Mortgage B 5 ■• 2 13 9 , — ' 3 14 5Farmers' Auctioneering ........ — ' 2 16 0 — _ various Gas— / Auckland ford.) r. 5% 13 7 13 4 4 13 3 Cliristchurch 6 170 — 48 11 Wellington 8 1 14 0 — 4 14 1 InsuranceNational 10 5-7 0 18 5 .— 4 1 5 New. Zealand 10 2 14 8 2 14 4 3 13 2 Queensland ..10 2.19 9 . — 3 6 11 South British ....131-3 3 14 0 3 119 3 12 1 Meat- ' Canterbury (ord.) .; ...;.... 5 10 10 0 10 5 0 311 5 N.Z. Refrigerating (£1) — 0 19 8 0 19 6 — N.Z. Refrigerating (10s) — 0 9 6 0 9 2 — Mining—' Alexander (13s Gd) ....1 30 0 16 10 — 24 1 2 Blackwater .. 12% 113 0 — 7 11 6 Grand Junction 1G 2-3 040 03 11 8 68 King Solomon .!...... 25 0 3 3 — 7 13 10 Okarito 20 0 10 7 0 10 3 9 9 0 Waihi G.M 40 16 3 10 1 7 12 5 Timber— ..■....:' Kauri-'; -• —. 0 15 6 — — Woollen— Kaiapoi (17s) (pref.) 5 7-10 0 16 0 — 6 12 Mosgiel 10 9 7 6 — . 4 5 4. Miscellaneous— . AnthonyHordern i.;.;;.. —' ■• -01210 - — ' '. — Bycroft's ...*... '01-6 2 0 0 '. . — 4 11 8 Beath and Co. (Is) 8 0 6 1..— 164 Burns, Philp 10 2 13 9 2 13 6 3 14 5 British Tobacco 0 1 17 S 1 17 6 3 3 9 Colonial Sugar 12V 2 61 0 0 — 4 2 0 Dunlop-Perdriau 4 0 18 10 0 18 9 4 4 11 D.I.C. (pref.) G 140 120 500 Electrolytic Zinc (pref.) 8- 1 15 0 — 4 11 5 Electrolytic Zinc (ord.) — 15 6 15 3. — Henry Jones Co-op 8% 1 18 9 1 17 G 4 10 4 Mount Lyell •■ p. 2% 13 3 1.2 8 2 3 0 N.Z. Drug (Kempthorne, Prosser) 7.% 3 10 3 3 10 0 4 5 5 • N.Z. Paper Mills 7 v 1» 8 3 18 0 4 19 1 N.Z. Newspapers 5 1 7 6 •> ~ 3 12 9 "Otago Daily Times" 6% 2 5 0 -- 2 14 11 Wilson's Cement 10 17 0 — 7 5 5 Woolworth (N.Z.) (prof.) 9 • , ■ 1 15 ■ 0 — 5 2 10 Unlisted: National Tobacco 15 3 5 0 — 4 12 4 N.Z. Perpetual Forests — 26 G ... — . — Invest. Exec. Trust B 9% OS 0 0 S» 0,0 9 7 10 Wcre's (5s pd.) — 0 4 G ' — — "—Cum div. p—Interim div. passed, a—Market price includes accrued interest, but not brokerage, u.—Interest due-dates unknown—yield based on gross sale price., r.—Interim div. reduced. Return based ou last annual dividend.