Commerce, Mining, & Finance

Evening Star, Issue 22444, 15 September 1936, Page 7

Commerce, Mining, & Finance

THE SHARE MARKET DUNEDIN STOCK EXCHANGE Although no business was effected at the call over this morning five sales were reported in New Zealand issues, the market for Australian securities failing to yield to increased offers by investors. Bank of New Zealand remained steady at 39s 3d, and the quotations for other banking issues were unchanged. In the meat section Refngeratmgs continued to reveal signs of weakening, and a parcel of South Otagos was available at £B, without attracting a buying offer. Interest in financial and pastoral shares was again confined to Goldsbrough, Morte, which were firm at 34s 6d, with buyers at 345. Increased bids were recorded for most • Australian issues, the market for Anthony Horderns, Australian Glass, British Tobaccos, Broken Hill Proprietarys, G. J. Coles, and Tooth’s Brewerys showing a definite tendency to harden. The only Dominion issues to be in good demand were Brown, Ewings, Crystal Ices, Drugs, Paper Mills, and breweries. Woolworth shares revealed no indication of the market recovering the recent loss. The possibility of legislation restricting chain store activites is apparently still causing uneasiness amongst investors. Australian raining issues secured strong support, particularly Broken Hill Souths and Electrolytic Zincs. Mount Lyells and Mount Morgans, on the other hand, were inclined to be easier. Interest in New Zealand gold mining continued to be restricted, though business was’reported in Gillespies and Nemonas, and Paddy’s Points were sought at 2s 6d following the announcement of a return. Although fewer buying offers were recorded for Government loans the market continued firm, sellers requiring £lO2 for 1937-40 Bonds and Stock. SALES REPORTED. Bank of New Zealand, £1 19s 3d. Gillespie’s Beach, Is 6d (two). Nemona, Is 9d. 4 'per cent. Bonds (1946-49), £lO5 17s 6d. Quotations as under; —

DIVIDENDS DUE

FOREIGN EXCHANGES ON NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following rates (to-day) for purchase and sales of foreign exchanges (all rates subject to alteration without

DOLLAR BATES. The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates to-day on a New Zealand currency basis. They are subject to alteration without notice: — .U.S.A. Canada. (Per £1 N.Z.) (Per £1 N.Z.) SELLING-

CONSTIPATION THE MOST SATISFACTORY REMEDY. Mr C. H. Trainer, 7 Hardy street, Wanganui, writes: “ I can recommend Dr Morse’s Indian Root Pills as an excellent laxative medicine and from personal experience of their use for many years I found they do not purge nor gripe but act mildly and effectively and to any person subject to Constipation I would urge their use for the speedy remedy of this prevalent complaint.”— [Advt.]

AUSTRALIAN FRUIT DISCUSSIONS WITH HEW ZEALAND Press Association —By Telegraph—Copyright SYDNEY, September 14. (Received September 15, at 1.30 a.m.) The Assistant Minister of Commerce (Mr Thorby) states that the Commonwealth Government has communicated with the New Zealand Government intimating its willingness to place evidence before the Fruit Inquiry Committee. He added that the delegation which left Sydney for New Zealand last week had no power to give evidence on behalf of the Federal Government. AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyright SYDNEY, September 14. Industrials came in for a good share of attention at firmer rates on the Stock Exchange to-day. The market was brisker than usual for Monday.

MELBOURNE, September 14. Bonds and industrials were quiet, but there was good support for Broken Hill Proprietary and Electrolytic Zinc shares, and little activity in gold mining.

FRUIT FROM RAROTONGA SHIPMENT BY MAUNGANUI [Per United Press Association.] WELLINGTON, September 10. The United Press Association’s special correspondent at Rarotonga advises that' approximately 3,300 cases of bananas and 1,060 cases of tomatoes are being forwarded from Rarotonga to New Zealar.d by the Maunganui. No oranges are being forwarded this shipment, as the Rarotonga season is now finished. THE WOOI MARKET BRIGHT PROSPECTS FOR NEW SEASON [Per United Press Association.] WELLINGTON, September 14. Although tie wool market showed a considerable improvement last season, Mr E. L. Hazel ton, of Wellington, who returned by i the Maunganui after spending four months in North America, says the prospects for the coming season are still brighter. Conditions are improving -in the United States, and there is a good demand for wool there. i

COMPANY NEWS VICTORIA NYAN2A LTD. The directors of the Victoria Nyanza Sugar Company Limited report that weather conditions at the company’s plantations, Kenya, have been exceptionally favourable, and good results for the 1936-37 year are anticipated. Although the audited accounts for the year ended June 30 are not yet to hand, the financial position of the company has improved. RISE IN PRICES NECESSARY EXPERIENCE OF BERLEI LTD. Speaking at the annual meeting in Sydney of IJerlei Limited, the chairman, Mr Arthur Burley, said the directors of Berlei (New Zealand) Limited had found it necessary to increase prices as a result of the 40-hour week increasing their costs of production, and had reported that such action must become general in the Dominion. The results of the New Zealand experiment

would be watched with the greatest interest in Australia “ The upward trend in business has shown no steep rises, giving more assurance of permanent improvement,” said Mr Burley. “ The couipany’s improved results from trading in all States reflected the general condition, and with excellent seasonal prospects and improved prices of primary products' we have every reason to expect still further progress toward prosperity. THE SEARCH FOR GOLD MATAKI RETURN [Per United Press Association.] AUCKLAND, September 14. The Mataki return for the week ended September 13 was 320 z for 134 hours’ work, and B,7ooyds treated. PADDY’S POINT RETURN The seoretaries of the Paddy’s Point Gold Mining Company Ltd. report a wash-up of 8602 3dwt as the result of 22 days’ sluicing.

FROZEN PRODUCE TRADE KILLINGS FOR EXPORT The New Zealand Meat Producers’ Board has supplied the following figures showing killings for export at all New Zealand works from October 1, 1935, to August 31, 1936, with last year’s figures for comparison;— NORTH ISLAND.

34 p.c. , Stock, Sept., 1941-43 ... 103 10 0 — 34 p.c. Stock, May, 1941-52 ... 103 5 0 — 34 p.c. Stock, Nov., 1941-52 ... 103 5 0 — 4 p.c. Bonds, 1937-40 — 102 0 0 4 p.c. Stock, 1937-40 — 102 0 0 4 p.c. Bonds, 1943-46 103 15 0 — 4 p.c. Stock, 1943-46 103 15 0 — 4 p.c. Bonds, 1946-49 105 15 0 — 4 p.c. Stock, 1946-49 105 15 0 — 4 p.c. Bonds, 1952-55 105 10 0 — 4 p.c. Stock, 1952-55 105 10 0

Gillespie’s Beach —Id per share Sept. 16 Apex Investment, Masterton —Interim, at 4 per cent, per annum ... Sept. 17 Huddart, Parker—Interim pref., 3 per cent.; ord., 3A per cent. Sept. 17 Broken Hill South—Quarterly, 2s 6d a share Sept. 18 Kaiapoi Woollen—Ord., 5 per cent.; pref., 5 per cent. Sept. 19 North Broken Hill—Dividend and bonus, 5s per share Sept. 20 N.Z. Drug Co.—Interim, 3£ per cent Sept. 21 Renown Collieries — Oord., lOd, final pref. at 7 per cent. ... Sept. 21 Auckland Farmers’ Freeging—6 per cent, per annum ... ... Sept. 25 Nemona Dredge—Id a share Sept. 26 Hume Pipe. Australia, Ltd.—5 per cent, per annum Sept. 28 British Tobacco—Quarterly, 2 per cent Sept. 28 Dunlop Perdriau —Final, ord., and pref., 5 per cent Oct. 1 Lincoln Mills'—Final, pref., 5 per cent., and ord, 8 1-3 per cent. Oct. 2 Bank of Australasia—Interim, 3s 6d per share Oct. 2 Howard Smith—Ord., 11 per cent.: pref., li per cent. Oct. 6 Imperial Chemical Industries Ltd. —Interim, 2i per cent., on ordinary shares Nov. 2 Mycr Emporium, Melbourne — Final, 5‘i per cent., making 8£ per cent, per annum Nov. —

Buyers. Sellers. e s. d. £ s. d. BANKING— Australasia 12 0 0 — New South Wales ... 32 17 6 'New Zealand 1 19 0 — / Commercial 0 18 7 National of New Zealand 3 0 6 3 2 6 National of Aus15 tralasia 14 10 0 0 0 INSURANCE— National ... ... ... 0 18 1 — Standard ... — 3 2 0 | SHIPPING— i P. and 0. Deferred Stock 1 11 0 —. : U.S.S, Co. (pref.) 1 6 0 MEAT PRESERVING— N.Z. Refrigerating (paid) ... .... ... 0 19 0 0 19 6 N.Z. Refrigerating 9 (cont.) ... ... ... — 0 1 Southland Frozen , (paid) ... 3 12 6 8 — South Otago Freezing — 0 0 LOAN AND AGENCY— . Goldsbrough, Mort 1 14 0 1 14 6 ' N.Z. Loan and Korean- ' tile (ord.) 32 0 0 — Perpetual Trustees ... — 3 4 0 Wright, Stephenson (pref.) — 0 18 6 COAL— . Kaitangata 1 a V —* WOOLLEN COMPANIES— Bruce (ord.) — 0 14 6 MISCELLANEOUS— Anthony Hordern ... 0 18 8 0 19 0 Associated News (pref.) ... 1 3 0 — Australian Glass ♦ 13 0 4 13 9 < British Tobacco 2 2 0 2 2 6 Broken Hill Proprietary ... 3 18 0 •3 19 6 Broken Hill'Proprietary (cont.) ... ’Brown, Ewing (ord.) 2 17 0 16 ,0 9 2 17 6 Brown, Ewing ipref.) 1 2 3 j — Crystal Ice Co. 2 5 0 — Dunlop Perdriau Rubber ... ... 0 18 3 G. J. Coles ... ... .4 0 9 —- Milburh Lime and ' ) .Cement ... '.... ... —-. 2 3 0 National. Electric ... — 0 13 4 N.Z. Drug Co. ... ... 3 15 0 — N.Z, Farmers’ . Fertiliser ... 1 1 0 — N.Z.' Paper Mills ... 1 6 3 — ‘ Otago Daily Times-’ Regent Theatre — 2 8 0 — 1 1 6 Woolworths (ord.) ... — 5 4 0 BREWERIES— New Zealand 2 12 0 2 13 0 Dunedin — 1 10 0 Tooth’s 2 15 9 “ UNLISTED STOCKS— MTntosh, Galey, Phcenix — . 0 11 0 National Tobacco (ord.) 3 4 0 — Woolworths (Sydney, ord.) 5 9 0 5 10 0 Otago Farmers’ Co-op. ” 0 3 6 AUSTRALIAN MINING Broken Hill South (£1) 6 0 0 — Electrolytic Zinc (pref., £1) 2 3 6 — Electrolytic Zinc (ord., £1) 2 1 6 — Mount Lyell (£1) ... 1 8 11 1 9 2 Mount Morgan (2s 6d) — 0 13 0 Upper Watut (5s) ... 0 3 0 GOLD MINING— Argo Dredging (Is) 0 1 8 — Big River (Is) 0 1 9 0 2 2 Blackwater (£1) ... — 1 14 6 Central Shotover , (Is) — 0 0 5 Clutha River (2s) ... 0 1 9 — Consolidated Goldfields (4s) — 0 17 0 Gillespie’s (Is) 0 1 6 0 1 61 Kildare (2s) — 0 2 6 King Solomon (Is) ... 0 0 9 0 1 0 Lawson’s Flat (Is) ... —• 0 0 4 Okarito (5s) —■ 0 5 6 Paddy’s Point (5s) ... 0 2 6 0 3 6 Waimumu Sluicing (Is) ... ... ... ... — 0 0 101 Waipapa Beach (Is) 0 0 n 0 1 0 Waitahu (5s) —■ 0 2 3 Noruona (Is) 0 1 7 — N.Z. GOVERNMENT LOANS(Bonds quoted are £100 Bonds.) 31 n.c. Stock, Nov., 1933-52 103 12 6 — 31 p.c. Stock, March, 194143 103 10 0 —

notice): — Buying Selling. London— £100 stg.. N.3 T.T. £124£124 10/ O.D. £123 10/ £124 8/9 Australia — £A to £100 £100 10/ N.Z T.T. £101 Fiji— £F to £100 £90 7/6 £89 N.Z. ... T.T. New York— . Dollar to £1 4.05i N.Z .. T.T 4.09* O.D 4.10i 4.06i Montreal — Dollar to £1 4.051 N.Z . T.T 4.09i O.D. 4.10£ 4.06i Austria — Schillings to £1 . T.T. 21.08 N.Z O.D. — 21.10 Belgium— . Belgas to £L N.Z T.T. . 23.937 O.D. ■ 23.948 "Czechoslovakia — Crowns to £1 97.23 N.Z. T.T. — O.D. — 97.28 Denmark— Kroner to £1 17.893 N.Z. .. T.T 18.203 O.D 18.263 17.903 France — Francs to £1 61.47 N.Z. T.T. O.D. — 61.51 Germany— Reichmarks to £1 10.039 N.Z . T.T. — O.D. — 10.044 Holland— Florins to £1 5.942 N.Z . T.T. — O.D. — 5.946 Italy— Lire to £1 51.45 N.Z . T.T. — O.D. — 51.50 Java — Florins to £1 5.914 N.Z . T.T. — O.D. — 5.918 Norway — 16.181 15.891 N.Z .. T.T O.D 16.241 15.901 Sweden — 15.785 15.490 N.Z. ... ... .. T.T O.D 15.845 15.500 Switzerland — 12.389 N.Z. ... ... . T.T. , O.D. — 12.394 Noumea — Francs to £1 60.10 N.Z. ... ... T.T. — O.D. — 60.16 Papeete— Francs to £1 60.25 N.Z T.T. — O.D. — bU.ii Hongkong— N.Z. pence to dollar 1 T.T. 17 29-32 18 29-32 O.D. 17 13-16 18 7-8 India and Ceylon N.Z. pence to rupee ... . 1 T.T. 22 9-64 22 57-64 O.D. 22 3-64 22 7-8 Japan— N.Z. pence to yen 1 T.T. O.D. - 17 41-64 17 5-8 Shanghai— N.Z. pence to 1 17 23-64 18 23-64 dollar T.T. O.D, 17 11-64 18 11-32 Singapore— N.Z. pence to 1 34 27-64 35 31-64 dollar ... . T.T. O.D. 34 15-64 35 15-32

T.T. (del) ... ... 4.05| 4.05J O.D. (del) ... ... 4.061 4.06i BUYING— O.D. (do!) ... ... 4.10J 4.10J

Bank of New South Wales £ 33 s. 2 d. 6 Commercial Bank 19 19 0 United Insurance 10 13 0 Colonial Sugar ... ... 43 7 6 Associated News (pref.) 1 3 3 Howard Smith 0 19 3 British Tobacco 2 3 0 Tooths 2 16 9 Tooheys 1 12 9 Queensland Brewery ... 1 4 0 G. J. Coles •4 2 0 Drug Houses 1 14 41 3 Australian Glass 4 14 Goldsbrough, Mort 1 14 3 Wilcox, Mofflin 0 12 7 Henry Jones 2 2 9 Lustre 1 4 9 Perpetual Trustee 4 17 6 Australian Gypsum ... 0 19 3 Beard Watson 0 18 4-} Stedman 0 18 0 Tankmans 3 10 0 Union Theatres (pref.) 0 16 0 William Adams 0 12 0 United Provisions 0 12 5 Hoyts (A pref.) 0 19 6 Hackshalls ... 0 15 3 Sargents _ 1 9 0 Australasian Paper ... 1 14 0 General Industries n 19 7} Mount Morgan n 12 11 Mount Lyell ... i 9 3 Broken Hill Pronrietary 3 19 6 South Broken Hill 6 4 0 Emperor 0 15 U Taranaki Oil ... ... 0 1 1 Tanah Biji 0 19 9 Mandated Alluvials ... i 11 10

British Tobacco £ 2 s. 3 d. 0 G. J. Coles 4 2 6 Drua: Houses 1 11 0 Australian Iron and Steel (pref.) 1 6 6 Australian Glass 4 14 3 Dunlop Perdriau 0 18 5 Dunlop Perdriau (pref.) 1 16 0 Goldsbrough. Mort 1 14 6 Electrolytic Zinc 2 2 3 Victoria Nyanza 0 13 0 Mount Morgan 0 13 1 Mount Lyell 1 9 41 Broken Hill Proprietary 3 19 9 Emperor 0 15 1 Loloma 1 4 6 General Motors 1 4 3 Gordon and Gotch ... 2 11 0 ‘ Herald and Times ’ ... 3 8 6 Hume Pipe 0 19 10 Myers 1 15 41 Tipper Watut ... ... 0 2 8 Sulphide Corporation 0 1C 9

Chilled beef (qrs) 1936. 137,095 1935. 61,245 Frozen beef (qrs) 188,055 337,038 Wethers (carcasses) 1,020,320 795,626 Ewes (carcasses) • •• 330,202 697,907 Lambs (carcasses) ... 4,374,375 4,437,466 Porkers (carcasses) ... 424,884 402,118 Baconers (carcasses) 201,028 140,159 Boneless beef (ft. c /■) 359,765 291,331 Sundries (ft.-c/s)-347,583 319,572 SOUTH ISLAND. Chilled beef . ' — Frozen beef 1,504 2,028 Wethers 123,974 153,706 Ewes 408,345 499,659 Lambs 4,414,863 4,401,799 Porkers 26,160 21.058 Baconers 13,960 12,620 Boneless beef 49,495 40,004 Sundries 120,233 87,085 TOTAL. Chilled beef ... ... 137,095 61,245 Frozen beef 189,559 339,066 Wethers 1,144,294 949,332 Ewes ... ... ... 738,547 1,197,566 Lambs ... 8,789,238 8,839,265 Porkers 451,044 423,176 Baconers 214,988 152,779 Boneless beef 409,260 331,335 Sundries 467,816 406,657 Stocks on hand in stores in New Zealand on August 31 (compared vrith ■ the same date last year) were: — 1936. 1936. Chilled beef (qrs) 2,546 — Frozen beef (qrs) 47,159 72,509 Wethers (carcasses) 175,190 107,756 Ewes (carcasses) 169,461 213,794 Lambs (carcasses) 262,776 147,813 Porkers (carcasses) 58,483 32,534 Baconers (carcasses) 4,227 6,282 Boneless beef (ft; e / 8) 66,559 75,184 Sundries (ft. c/s) 99,908 95,705