Investment Market To-day

Evening Star, Issue 23371, 14 September 1939, Page 9

Investment Market To-day

CAUTION DOMINANT AUSTRALIAN METALS UNCERTAIN PROFIT TARING REACTION STILL EVIDENT STANDARD INSURANCES ATTRACT FIRMER BUYERS Caution continued to mark investment operations this morning, although buying support was present within defined limits. Australian metals again reflected hesitance, probably on profit taking, with some further slight losses recorded, but Commonwealth industrials and most Dominion lines showed little change. Business was fair. , Among mining scrip, Mount Lyells receded to buyers £1 11s, 2s off vendors limits, while Morgans weakened to between 10s and 10s lid. Barriers were uncertain Broken Hill Proprietaries displayed only a slight movement on yesterday s quotations, buyers remaining steady at £3 12s 9d with best sell el’s at £3 14s. A. 0.1. rights had business in the room at 4s 7d, final purchasers offering at Id below that, valuation. G. J. Coles and Sydney Woolwortlis were slack. Government loans had a slow market, although the 1946-49 stock changed hands on reported business at £99. Bank of New Zealands closed wide between £1 18s-£l 19s 3d, but insurance issues firmed, Standards closing with stronger buyers at £2 14s. industrials closed stable, the only conspicuous movement being provided by New Zealand Breweries, which * had weaker sellers. SALES REPORTED. —Late Yesterday.— National Insurance, IGs 7d. Union Steam Ship (pref.), £1 ss. New Zealand Drug, £3 7s 9d. —This Morning.— 4 per cent. Stock, 1946-49, £99. Broken Hill Pty., £3 13s 6d (late yesterday), SALE ON ’CHANGE. —This Morning.— A.C.I. (rights), 4s 7d.

o% |>% m% »% »% »% »-•»%».% »*o »So DIVIDENDS AND CALL LIST. DIVIDENDS PAYABLE. Woolworths (W.A.) Ltd.—lnterim half-yearly, 7JI per cent Sept. 15 Electrolytic Zinc—Half-yearly ord. and pref. at 9 pfer cent, per annum (July 26) Sept. 15 Broken Hill South—6d a share (August 8) ... Sept. 15 Foster Brewing Co. Ltd.—lnterim half-yearly, 6£ per cent. ... ... Sept. 16 Milburn Lime and Cement—Final, Is a share (August 25) Sept. 19 N.Z. Drug—lnterim, 3J per cent. Sept. 20 Howard Smith—lnterim half-year, 2 per cent. (September 11) ... Sept. 21 Apex Investment Trusty-Final, 4’ per cent, per annum Sept. 21 Auckland Farmers’ Freezing Co. — 6 per cent, per annum Sept. 23 North Broken Hill—Quarterly, 6d a share (August 29) Sept. 27 George Farmer, Sydney—Ord., 2£ per cent, per annum Sept. 29 Felt and Textiles—s per cent., making 10 per cent, per annum Sept. 30 British Tobacco Co. Ltd.—Quarterly ord., 2 per cent. (September 9) Sept. 30 Dunlop Perdriau Rubber—Finals cum pref., 5 per cent., making 10 per cent., and ord. 3$ percent., making 7 per cent, per annum respectively (September 14) Sept. 30 Barnet Glass Rubber—Finals cum pref,, 6 per cent., and ord., 8£ per cent., making 10 per. cent, and 12 per cent, per annum respectively ... ... Sept. 30 N.Z. Newspapers Ltd.—lnterim, 8d a share Oct. 2 Wairarapa Farmers’ Co-op.— Prof. 3J per cent, per annum Oct. 2 Hume Pipe (Australia) Ltd. — Final ord. and pref., 3J per cent per annum, making 7i per cent Oct 2 Nestles and Anglo-Swiss Condensed Milk (Australasia) Ltd. —Quarterly pref. at 8 per cent, per annum Oct. 2 Bank of Australasia—lnterim 5s 6d per share (less British income tax, September 11) ... Oct. 6 Woolworths (N.Z.) Ltd.—Halfyearly pref., 9 per cent. (September 24) Oct. 15 Woolworths Ltd., Sydney—Half- . yearly ord., 6 per cent. (September 24) o°t.. 15 (Dates in parentheses signify the closing of transfer books and registers.) CALLS DUE. Tooheys Lid.—Bs a share, making 16s paid Sept. 21 G. J. Coles—los a share, making £1 paid Jan. 15

COLOMBO TEA SALE Mr L. M. Wright has received the following cabled report on the Colombo tea auction of September 12:— At yesterday’s sale of 2,750.0001 b all grades were in keen demand, prices showing sharp rises, particularly in common and fine grades. The quality' of the offerings was very good. One and three-quarter million pounds will be offered to buyers at next week’s auction. FROZEN RABBIT EXPORT

The rabbit packing and freezing plant at Alexandra, built and operated by the late Mr R. S. Black, and since his death carried on by the company which bears his name, has been purchased by Messrs Thomas Borthwick and Sons. Ltd. The new owners have decided upon a programme of renovations and extensions which are to be put in hand immediately.

DUNEDIN STOCK EXCHANGE THIS MOBHIHC’S CALL LATEST QUOTATIONS

AUSTRALIAN STOCK EXCHANGES PRONOUNCED ACTIVITY IN SYDNEY Press Association—By Telegraph—Copyright SYDNEY, September 13. Buoyancy and pronounced activity on the Stock Exchange cloak the fact that a major war is in progress. Vigorous buying prevailed the whole day round recently-improved levels, all sections of the market, even tin stocks, sharing in the gains. The announcement that the British Government acquired the Australian wool clip and other essential commodities is having a stimulating influence on the market. £ s. d.

FRUIT AND PRODUCE MARKET BARE OF ORANGES BANANA CONSIGNMENTS NOT DUE FOR FORTNIGHT FIRST SUPPLIES OF CALIFORNIAN POTATOES Lovell, Bates Limited report as follows on operations in the local fruit and produce markets during the week ended yesterday:— The market is bare of oranges, but a shipment is due next Tuesday. A keen demand is anticipated. Bananas are in short supply, and further consignments will not reach this market until September 28. A shipment of grapes arrived during the week, and realised high prices. A further shipment should reach the local market in the first week of October. Consignments of dessert and cooking apples are short, and high prices rule for extra fancy and fancy grades. Pears, both cooking and dessert, are realising high values, the supply not being equal to the demand. Grapefruit is being regularly obtained from the Auckland, district, prices being payable to growers. Marmalade oranges are in heavier supply, and values have eased. A further allocation of New Zealand lemons was made during the week, but the demand is poor, A shipment of pineapples arrived during the week, and met with a good demand at increased prices. Vegetables of all varieties have increased in supply, and prices have sharply declined. Spring cabbages are now plentiful, with values low. Savoy cabbages are in full supply, with prices moderate, cauliflowers are in heavy supply at lower levels. Brussels sprouts are in heavier supply, with an easing in values apparent. Carrots and parsnips are in heavier supply, with values lower than last week. _ Spinach, leeks, and celery are realising satisfactory prices. Lettuces are in short supply, with a good demand for first quality. Increasing supplies of rhubarb are now available from Outram and the Sawyers Bay district, with values slightly lower than last week. The first of the Californian potatoes reached this market on Monday, and met with a good demand. Further supplies will be received early next week. Onions continue to arrive in small quantities from Canterbury growers, with values equal to last week’s rates. Potato consignments are easing off. the King Edward variety being now difficult to obtain. Values are lower than last week’s quotations. There is a good inquiry for seed potatoes, but supplies are not over plentiful. Supplies of spring flowers have increased, and values have eased. RANGE OF VALUES. Bananas. —Niue, green, 17s 6d; Samoan, ripe 22s 6d, green 20s. Oranges.—Australian navels, 16s to 225. Lemons.—New Zealand, 6s 6d to 19s. Grapefruit.—New Zealand, 14s. Apples.—Stunners, 7s 6d to 11s; cooking, 7s to 9s; (Rome Beauty, 7s to 9s. small 4s to 6s; Cleopatras, 8s to 9s 6d; Jonathan—to 13s 6d for extra fancy, 12s for fancy, 10s for commercial; Delicious, 7s 6d to 12s, small 5s to 6s 6d; Statesman, 7s 6d to 9s, small 4s to 6s. Pears.—Cooking, 3s 6d to 4s; Winter Cole, 6s 6d to 8s; Winter Nelis, to 13s 6d a largo case. Tree tomatoes, 7s to 8s 6d. __ Spinach, to Is 6d a dozen. Potatoes.—King Edward, from £lB to £2O a ton; whites, £l7 to £lB. Onions, 22s 6d a bag. Lettuce.—Choice, to 4s a dozen. Brussells sprouts, 2d per lb. Beetroot, Is 6d a dozen. Silver beet, Is 6d a dozen. Celery, 2s to 4s a dozen. Pumpkins, 2Jd per lb. Carrots.—ls 6d a dozen, 4s to 5s a bag. Parsnips, 6s a bag. Swedes, Is to Is Cd a sugar bag. Cabbages, 2s to 3s a sack. Cauliflowers.—Choice, to 6s a sack; others. 3s to 4s Rhubarb, 5s to 6s a dozen. RABBITSKIN MARKET NO PRICE FIXATION YET COMPETITION KEEN The rabbitskin sale listed for Tuesday was held yesterday afternoon on receipt of advice from Wellington that meantime the sale of rabbitskins shall be free from the provisions of the emergency regulations in regard to price fixation. About 35 tons of skins were offered and competition throughout the sale was keen This may be partly attributed to the clarification of the buyers’ positions in regard to war risk and freights. Taking present conditions into consideration, the sale must be considered satisfactory from trappers’ point -of view. The following is the official range of

Buyers. Selle £ S. d. £ 6. d! N.Z. GOVERNMENT LOANS— 3i p.c. Stock, Sept., 193943 ... — 99 15 0 34 p.o. Stock, March, 194145 98 0 0 — 34 p.o. Stock, Sept., 194143 98 0 0 — 4 p.c. Stock, 194546 — 98 5 0 4 p.c. Slock, Nov., 1949-52 96 15 0 — BANKING— Australasia (£5) ... _ 9 5 0 New Zealand (£1) ... 1 18 0 1 19 3 E.S. and A. (£3) ... 4 5 0 — Union of Australia Ltd. (£5) — 7 16 6 INSURANCE— National (7s) 0 16 6 0 17 0 New Zealand (£1) ... 2 12 0 — South British (£1) ... 2 1 0 — Standard (£1) 2 14 0 2 15 0 SHIPPING— P. and 0. Deferred Slock (£1) 1 5 0 1 11 0 U.S.S. Co. (pref., £1) 1 4 9 — MEAT PRESERVING— N.Z. Refrigerating (paid, £1) 0 16 0 — N.Z. Refrigerating (cont., 10s) 0 8 0 0 8 4 LOAN AND AGENCY— Trustees, Executors, and Agency (£3) ... 4 0 0 Wright, Stephenson (pref., £1) — 0 19 0 COALWestport (10s) 1 .0 9 — Westport-Stockton (ord., 10s) 0 3 8 0 4 0 GASChristchurch (£1) ... 1 3 3 WOOLLEN COMPANIES Bruce (pref., £1) ... 0 18 0 Kaiapoi (pref., 17s) 0 14 0 — Mosgiel (£4) 9 3 0 — Oamam (£1) 0 15 0 — MISCELLANEOUS— Australian Consol. Lid. (rights) 0 4 6 Broken Hill Proprietary (£1) 3 12 9 3 14 0 Brown, Ewing (pref., £1) — 1 1 0 D.I.C. (ord., 10s) ... — 0 14 9 D.I.C. (pref., £1) ... 1 1 9 — Dominion Fertiliser (£1) 1 3 9 Dunlop Perdnau 1 0 Rubber (£1) — 0 G. J. Coles (ord., 0 £1) 3 7 0 3 12 M'Leod Bros. (£10) — 28 0 0 N.Z. Drug Co. (£2) 3 7 6 3 8 6 N.Z. Paper Mills 0 '(£1) — 1 6 • Otago Daily Times 0 (£1) 1 19 6 2 6 Wilsons Cement (10s) 0 16 6 — Woolworths (Sydney, 0 ord., 5s) — 1 4 BRiEWERIES— New Zealand (£1) — 115 9 OVERSEAS MINING— Broken Hill South (5s) ... ... 1 10 0 Electrolytic Zinc 0 , (ord;, £D — 2 19 Mount Lyell (£1) ... 1 11 0 1 13 0 Mount Morgan (2s 6d) ... 0 10 0 0 10 11 North Broken Hill (5s) — 2 12 6 N.Z. MINING— Austral N.Z. (£1) •— 1 4 6 Big River (Is) — 0 1 0 Clutha River (2s) ... — 0 1 8 Gillespie’s (Is) 0 — 0 0 10 Nokomai (5s) 1 6 0 2 U Okarito (5s) 0 2 0 0 3 0 Waitahu (5s) — 0 1 0 Waihi Investments ... 0 6 3 0 7 0

Bank of New South Wales 27 0 0 Commercial Banking of 0 16 Sydney National Bank (£10 paid) 17 11 0 0 Queensland National Bank 4 12 0 Colonial Sugar 44 5 0 Fairyraead Sugar 1 13 6 Associated News 0 16 1 (pref.) 0 19 0 Adelaide Steam 1 13 6 Huddart, Parker 2 17 0 Australian Gas (A) 6 14 0 British Tobacco 2 8 0 Tooths o 10 3 Tooheys ... 1 7 4 Woolworths .. v 1 2 6 Woohvorths (New Zealand delivery) 1 2 6 Australian Gypsum 0 19 6 Newbold 1 7 6 Ih’tt, Son, and Badgery ... 2 0 0 Masonite 0 13 6 Drug Houses 1 5 7 Australian Consolidated Industries 1 14 0 (rights) 0 4 6' David Jones 1 12 0 Hordern 0 13 5 Kandos 1 7 6 Mort’s Dock 0 16 0 Atkins ... ... 1 2 0 Adams 0 13 3 Felt Textiles 1 10 0 Gordon and Gotch 2 10 6 Goldsbrough, Mort 1 8 6 Amalgamated Wireless 2 0 (cont.) 17 Burns, Philp 2 11 6 Millaquin Sugar .’. 2 0 6 Cash Orders 0 15 0 (pref.) 1 3 0 United Provisions 0 9 10 Wilcox Mofflin 0 i 4 United Insurance 9 10 0 Electrolytic Zinc 2 15 0 Zinc Corporation 4 10 0 Mount Morgan 0 10 3 Mount Lyell 1 12 0 Broken Hill Pty. ... ... 3 8 6 (New Consolidated) 0 18 3 North Broken Hill 2 10 3 Souths 1 11 3 Kuala Kampar 0 17 4 Bawang 09 5 La rut 0 8 r, Loloma 1 5 0

prices Per lb. d. d. Small 81 to 85 Racks 191 to 23 Summers 221 to 241 Autumns 261 to 29 Incomings 20 to 36 . Spotted winter bucks 601 to 62-1 Spotted winter does ... 331 to 355 Second winter bucks 75 to V9 Second winter does ... 39-5 to 411 First winter bucks ..." 84 to 87 First winter docs 46 to 48 Outgoing winter bucks 471 to 531 Outgoing winter does 321 to 325Furrier does 395 to 40 Spring bucks 361 to 39 Spring does 265 to 315 Stained does 311 to 315 First milky 25f to 395 Milky 231 to 255 Second winter broken 295 to 305 First winter broken ... 331 to 34 Autumn fawns to 36 Winter fawns to 56 Autumn black 20 to 271 First winter black 385 to 415 First hareskins 28 to 30-1 Hareskins 14 to 17 Horsehair 19 to 235 First ferrets (eaelO 5s lid to 7s 4d. The next sale is listed for September 2G.

Emperor 0 10 3 Oil Search 0 3 3 MELBOURNE, September 13. £ s. cl. National Bank (£o paid! ... 5 12 0 Howard Smith (ex. div.) ... 1 1 0 United Provisions 0 9 9 Broken Hill Pty 3 8 0 Norths 2 9 0 Souths ... 1 10 3 Mount Lyell 1 10 6 Mount Morgan -- 0 10 5 Emperor ...' 0 10 b