QUIET MARKET

Evening Star, Issue 23678, 11 September 1940, Page 5

QUIET MARKET

KEEN BIDDING FDR MACDUFFS SUDDEN RISE IN VALUE The most interesting development on the Dunedin Stock Exchange this morning was ; the increased demand at much higher levels -for both ordinary and preference shares of ■MacduSs Ltd. This follows the recent announcement to shareholders that the re- . eeivership in which. the firm has been held ;will terminate at the. end of the month. Yesterday morning the bids # were 8s 3d (erd.) and 15s 6d (pref.). This was an advance on late rates- A sale of the ordm»ry issue took place at Christchurch on September 2 at Bs, but anothc’- was reported from Wellington yesterday at bs Ski. Yesterday afternoon the bid for the prets. went up to 16s. This morning they were inquired for at 8s 9d (ord.) and 18s (pref.), ; with an offer of the latter at £1 2s, A sale was reported of the second preference shares of Felt and Textiles Ltd. at £1 4s. Government loans were steady at high levels, with a sale reported of the 1949-52 stock at £lO5 17s 6d. Drug rights have moved up from last week’s position, and were quoted at £1 5s Id and £1 5s 3d, SALES' REPORTED. —This Morning.— Mount Morgan, Bs. Felt and Textiles (second pref.), £1 4s. ♦ per cent. Stock, 1949-52, £lO5 17s 6d, SOUTHLAND STOCK GOOD QUALITY BEEF FAT SHEEP LOWER STANDARD [Pee United Press Association.] INVERCARGILL, September 10. The fat sheep yarding at the Lomeville stock sale to-day was slightly. larger than that of last week, and consisted mainly of wethers. Approximately half of the wethers were of good quality,‘the remainder being light, and unfinished. The yarding of ewes was of only medium quality The number yarded was in excess of the requirements of local butchers, and the absence of outside competition caused a drop in .values of 3s a head for good quality sheep and 4s a head for medium and unfinished sorts. Prime heavy wethers brought from 37s to 38s fid, good quality 35s to 365, medium' 31s 6d to 32s fid, light-weights 27s to 29s fid. Good quality ewes made from 32s to 33s fid. fnedium 28s to 29s fid, lightweights 25s fid to 275, with unfinished from Ss to 225. A small entry of light-weight fat hoggets realised from 20s to 22s fid. There was a good entry in the fat cattle section,, and it included some nice quality htifere arid medium-weight bullocks. The entry of cows, with the exception of a few, was of only' medium quality. Prime quality "Bullocks in most cases sold on a par with those of last week, but other sorts were easier hy about 15s a head, and over the last race passings were frequent. Prime quality bullocks brought from £l7 10s to £lB ss, good quality medium weights £ls IDs to £l6 10s, handy weights £l3 15s to £l4 10s, light-weights £l2 to £l3. Extra prime heavy heifers brought from £l6 to £l7 ss, medium-weights, £l3 10s to £ls, lightweights, £lO 10s to £ll 10s, with smaller sorts from £8 5s to £9 10s. Prime quality cows made from £l2 10s to £l4, medium quality £lO 10s to £ll 10s, light-weights £9 to £lO, .with inferior from. £7 to £8 ioa. '• HUME PIPE LTD. DIVIDEND ANNOUNCED [Per United Press Association.] WELLINGTON, September. 11. The Stock Exchange Association has received cabled advice from the Hume Pipe Company (Australia) Limited that the net profit for the year was £37,229. The directors recommend, a final dividend of 3i per cent, on the preference shares and 3 per cent, on the ordinary, making 7i per cent, and 6 per cent respectively for the year.