DUNEDIN STOCK EXCHANGE

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

DUNEDIN STOCK EXCHANGE

THIS MORNING'S GALL LATEST QUOTATIONS

UNLISTED STOCKS— All Stocks in this section are not quoted on the official list, and transactions are subject to a different rate of brokerage: — Dunedin Ice Cream 14 6 '

DIVIDENDS AND CALLS. The following is a list of shares on which dividends will shortly be payable;— Huddart, Parker Ord. 5 per cent., pref. 3 per cent Sept. 12 Woolworths (W.A.) —hit. ord. 7£ per cent Sept. 15 Co-op. Dairy Co. Ltd.—Annual, 4 per cent Sept. 15 Milburn Lime and Cement—Final, 5 per cent Sept. 17 D. and W. Chandler Halfyearly, pref., 3 per cent. ... Sept. 18 Electrolytic Zinc Ltd. Halfyearly, 8 per cent. pref. and ord. shares Sept. 20 N.Z. Drug—lnterim, 3[ per cent. Sept. 20 Howard Smith Ltd. —Interim, 2 s per cent, (ord.), quarterly, 6 per cent, (pref.) Sept. 25 Bank of Australasia—Final, 7 per cent Sept. 27 Cox Bros. —Ord., Is a share, pref., 8 2-5 d a share ... Sept. 30 General Industries Ltd. —Interim, 3i per cent, pref., 5 per cent. ord Sept. 30 United Building (Christchurch) — Interim, 2£ per cent Sept. 30 Woolworths (Victoria) Ltd.—3|r . per cent, pref Oct. 15 Woolworths Ltd. (Sydney)—Halfyearly, 6 per cent, (ord.) Oct-. 15

MINING NEWS ALEXANDER MINES LTD. The Alexander Mines Ltd. report for the week ended September 5 is as follows: — No. 6 Intermediate Level.—This face has been extended 10ft, making a total of 114 ft north of the rise. The reef shows in the hack of this level, coming down to Ift below the level caps, but at this point the reef is faulted and displaced into the eastern side of the level. A reef sft in width is showing, and promises to open up into a fine body of ore. Solid Stope Drive off No. 2 Rise. —A small amount of work has been done here, the lode maintainng its width of 15in. Sloping.—Sloping has been carried on in No. 1 and No. 3 slopes above the intermediate, the lode varying in width from 3ft to 4ft. Above No. 5 intermediate one stope only is'being worked, and in places very little stone is obtained owing to faulted country. Fifty-five tons have been sent to the battery. NEW RIVER RETURN. The New River Gold Dredging Company reports for the week ended September 5 that 20ce of gold were secured from 9,345 yards treated in 102 hours’ dredging time. WHITE’S ELECTRIC. The official gold return of the White’s Electric Gold Dredging Company (Barrytovvn) Ltd. for the week ended September 5 was 260 z of gold from 8,960 yards treated in 110 hours’ dredging time. ARGO GOLD. The return of the Argo Gold Dredging Company Ltd. for the week ended September 7 was 30oz for 132 hours’ working (10,500 yards).

THE WOOL SEASOH EARLIER APPRAISALS OVERCOMING WAR DIFFICULTIES [Special to the ‘ Star.’] WELLINGTON, September 11. One of the points made by Mr H. M Christie (chairman of the New Zealand Wool Council) when he was interviewed regarding arrangements for the coming season, is that there is a scarcity of soft seaming twine which is used in sewing woolpacks and seed sacks. Farmers are therefore being asked to conserve their supplies as much as possible, because the fibre for this high-quality twine is produced mainly in Hungary and Italy, from which, of course, the supply is entirely cut off. “ All farmers should use lower grade twine wherever possible.” said Mr Christie, “ thus conserving existing stocks of the better quality twine for essential purposes such, as the sewing of woolpacks." The overrunning of Europe has so changed economic conditions (said the chairman of the Wool Council) that if the terms of the agreements to purchase are similar to those of last year, the new deals must be relatively less favourable to Britain, as she has nob the same field for disposal of sur plus commodities. “Britain,” he said,,” is faced with the problem of finding a market for, or processing certain classes of wool, the bulk of which in the past was dealt with by France and other countries. The United Kingdom has also lost the substantial market for lops, yarns, and tissues which she previously held in Norway, Sweden, Denmark, and Belgium. Thus British and Dominion manufacturers are faced with the necessity of dealing with larger quantities of wool, and types which they had not been in the habit of handling. “ Our own producers," continued Mr Christie, “ can help the manufacturers and others concerned in the trade by doing as much as possible on the farm, not leaving it to be carried out by some other part of the industry already confronted with new difficulties resulting from the war. Sheepfarmers who have in the past neglected proper skirting and preparation of their wool for appraisal can help now by seeing to this work. Mixing in the sheds of bellies with other types of wool results in unnecessary work having to be done elsewhere. The type and price schedule has already been prepared for the coming season, and in doing so, particular care was taken to ensure that the prices will provide an adequate reward to those who properly prepare their wool for appraisement. We have to do everything possible to expedite shipment of our wool, and the appraisal dates this season have been put forward- slightly to enable ships to be loaded and despatched at the earliest moment. The first appraisal is at Auckland on November 14-, followed by others at Gisborne, Napier, and Wellington.” ! RABBITSKINS GOOD CLEARANCE EFFECTED The Dunedin Stock Agents and Woolbrokers’ Association reports as follows: A good offering was submitted at yesterday’s auction of rabbitskins, approximately 45 tons being catalogued Buyers, representing the principal exporting and fur houses, i were in attendance, and a fairly good clearance was effected. Considering the lateness of the season, values were satisfactory, exporters purchasing freely for immediate shipment. New Zealand manufacturers also operated on does. As compared with the rates ruling on August 27, prices on the average receded Id to fid per lb. Good lines of winter bucks and does commanded attention and showed the least depreciation. First bucks sold to 112 d, second bucks to IOOd, spotted bucks to 84d, first docs to second does to 77d, spotted does to 72d, furrier docs to 75d.

The official range of prices is as follows: • —Small, l6i<l to 18£d per lb; runners, to 33d; racks, 32d to 341 d; summer bucks, to 33Jd; autumns and incomings, 36d to 50d; spotted winter bucks, 80d to 84d; spotted winter does, 69d to 72d; second winter bucks, 96d to lOOd; second winter does, 73d to 77d; first winter bucks, 108 dto 112 d ; first winter does, 83£d to 86Jid; outgoing winter bucks, 70d; outgoing winter does, 56d to 67d ; furrier does, 72d to 75d ; spring bucks, 54jd to 59£d; spring docs, 39d to 48d; stained does, 50d to 55d; first milky, 36d to 37d; milky, 31d to 31 Id; summer broken, 30d to 32d; thirds broken, 33d to 34d; second winter broken, 36d; first winter broken, 37|d to 39d; summer fawns, 24d to 36d; second fawns, 64d to 66jd ; first winter fawns, 84jd to 86d; summer black, 24d to 24^d; autumn black, 30J,-d to 47d; first winter black, 70£d to 76^d; first hareskins, 35Jd to 36,)d; hareskins, 22|d to 23jjd; horsehair, 28d to 31d ; first ferrets, 12s 3d to 13s 9d; second ferrets, 4s to 7s 2d. MILBURN LIME ANNUAL REPORT The annual report of the Milburn Lime and Cement Company Ltd., to be presented at the annual meeting on September 17, states: The profit and loss account, after writing off depreciation and making provision for income tax for the current year, shows a credit balance of £19.058 10s 4d, including the sum of £7,997 15s carried forward from last year. An interim dividend of 3J per cent, was paid on March 18 amounting to £7,500, and leaving a balance of £11,558 10s 4d to be dealt with. The directors recommend a dividend of 5 per cent., absorbing £IO,OOO The retiring directors, Mr W. E. C. Reid and Mr E. C. Hazlett, are eligible for re-election. BUTTER REDUCTION FIGURES FOR AUSTRALIA Australian butter production in the year ended June 30 last was a record. It amounted to 212,680 tons, and compared with 210,000 tons in the previous highest year, 1934-35. Last year’s production exceeded that for the previous year by 184,000 cwt, or 4.5 per cent., and that for 1934-35 by 58,000 cwt, or 1.4 per cent Cheese production in the past four years has increased by 83 per cent., or 285,000 cwt. Last year’s record production was 630,000 cwt. compared with 586,124 cwt in the previous year and 344,631 cwt in 1935-36. The industry has expanded in all the States except New South Wales, where production has remained constant at about 70.000 cwt a year in the past decade. AUSTRALIAN STOCK EXCHANGES Press Association —By Telegraph —Copyright SYDNEY, September 10. In spite of the tense war situation the share market remains firm, with only minor fluctuations. Mercantile Insurance, £1 6s 9d; British TiJjacco (ex div.), £2 2s 6d; Woohvorths, 17s Id; Consolidated Industries, £1 15s; Consolidated Industries (cont.), 17s; Standard Cement, £1; Mart’s Dock, 17s; Mauri Bros., £3 10s; Newbold, £1 ss; Mount Lyell, £1 7s 7d; Austral New Zealand, £1 2s fid. MELBOURNE, September 10. Commercial Bank of Australia, 14s; National Bank (£5 paid), £5 15s; Coles, £3 2s; United Provisions, 7s 3d; Myers, £1 9s fid; Oil Search, 4s; Emperor, 10s 10d.

NEW SHARE ISSUE FELT AND TEXTILES It has 'been announced that Felt and Textiles of Australia Limited will make a new issue of 314,624 ordinary £1 shares, to he offered to ordinary shareholders at par in the proportion of one share for every two shares held. In March last year the company made an issue of 200,000 6 per cent, second preference shares of £1 each. Since then minor issues of ordinary shares have been made for the Requisition of subsidiary interests. Present capital is £869,247, in 629,247 ordinary shares, 40,000 first preference shares, and 200,000 second preference shares. The directors announce also that preliminary figures disclose a net profit of not less than £150,000 for the year ended Juno 30, compared with £93.823 for 1938-39. Ordinary dividend for the year is unchanged at 10 per cent. One half of the final dividend of 5 per cent, has been declared out of income from funds derived from sources outside Australia and Jv.u fore exempt from Commonwealth and State income tax.

Buyers. Sellei s. £ s. d. £ s. d. N.Z, GOVERNMENT LOANS3 p.c. Bonds, 1939-41 99 0 0 — 3 p.c. Stock, 1939-41 99 0 0 — 3i p.c. Bonds, 1953-57 100 0 0 34 p.c. Stock, 1953-57 100 0 0 — 4 p.c. Bonds, 1943-46 102 5 0 — 4 p.c. Stock, 1943-46 102 10 0 — 4 p.c. Bonds, 1946-49 104 15 0 — 4 p.c. Stock. 1946-49 j04 15 0 — 4 p.c. Stock, Nov., 1949-52 105 10 0 — 4 p.c. Bonds, 1952-55 106 5 0 — 4 p.c. Stock, 1952-55 106 5 0 — 4 p.c. Bonds, 1954-58 106 15 0 — 4 p.c. Stock, 1954-58 106 15 0 — BANKING— New Zealand (£1) ... 2 2 0 — New Zealand, Long “ D " (£1) 1 7 0 — National of New Zealand (£2 10s) 1 19 0 — INSURANCE— National (7s) 0 18 4 — New Zealand (£1) ... 3 0 6 — South British (£1) ... 2 9 0 — Standard (£1) 2 17 6 — SHIPPING— Howard Smith (£1) — 1 3 0 P. and 0. Deferred Stock (£1) — 1 4 0 U.S.S. Co. (pref., £1) 1 6 0 — MEAT PRESERVING— N.Z. Refrigerating (paid, £1) ... ... 1 0 0 — Southland Frozen (paid, £1) 1 15 0 — South Otago Freezing (£5) 5 0 0 rWaitaki Farmers Freezing (£5) 4 13 6 — LOAN AND AGENCYGoldsbrough, Mort (£1) 1 4 0 — National Mortgage (B issue, £1) 1 0 0 — N.Z. Guarantee Corporation (3s) 0 3 4 — Perpetual Trustees (18s) 2 10 0 — Wright, Stephenson (ord., £1) — 1 0 3 Wright, Stephenson (pref., £1) 0 19 6 COAL— Kaitangata — 1 11 6 Westport 1 2 3 — Westpor t-Stocklon (ord.), ... — 0 2 4 OIL— Taranaki (£1 4s 7d) 0 6 3 — Taranaki Oil Development (cont.) — 0 4 6 WOOLLEN COMPANIES— Bruce (ord., £1) 0 18 1 — Kaiapoi (ord., 17s) 0 15 1 — Kaiapoi (cont., 7s) ... 0 5 0 — Kaiapoi (pref., 17s) 0 17 0 MISCELLANEOUS— Australian Consol. Ind (£1).. - 1 14 0 — Australian Iron and Steel (pref., £1) ... -1 .6 0 — British Tobacco (£1) 2 4 0 — Broken Hill Proprie- • tary (£1) 2 4 6 2 6 0 Chas. Begg and Co. 1 1 0 1 3 6 Crystal Ice Co. (£1) 2 0 0 — D.I.C. (ord., 10s) ... 0 12 9 — D.1C. (pref., £1) ... 1 3 0 — Dominion Fertiliser (£1) .- ••• 1 7 0 — Donaghy’s Rope and Twine (£1) 2 14 0 — Dunedin Stock Exchange Pty. (£1) ... — 1 16 0 Felt and Textiles (second pref.) 1 3 9 — G. J. Coles 3 5 0 —- Kauri Timber (£1 5s) — 1 4 0 Macduffs Ltd. (ord., £1) ... 0 8 9 — Macduffs Ltd. (pref., £1) .... - 0 18 0 1 2 0 Milburn Lime and Cement (£1, ex div.) 2 0 0 2 1 0

M’Leod Bros. Ltd. (£10) 26 0 0 National Electric (£1) 0 17 6 — N.Z. Drug Co (rights) ... ... 1 5 1 1 5 3 N.Z. Farmers’ Fertiliser (pref.) 1 1 9 N Z. Paper Mi)'-. (£1) 1 9 6 1 10 9 R»gent Theatre (£1) Touthland Ice Crc»*v 1 2 6 1 0 6 Woolworlhs (Sydney, ord.. 5s) 0 17 6 0 18 3 BREWERIES— New Zealand (£1) ... 1 14 9 0 0 Dunedin Tooth’s (£1) Carlton (£1) 3 0 0 1 5 2 16 OVERSEAS MINING— Electrolytic Zinc (ord., £1) Electrolytic Zinc (pref., £1) 2 10 0 2 11 0 Emperor Mines. Fiji (10s) 0 10 6 Mount Morgan (2s 6d) 0 7 10 0 8 4 North Broken Hill (5s) 1 16 0 ■ Placer Development 2 12 6 — Wellington Alluvials 0 4 3 — NEW ZEALAND MININGAustral N.Z. (£1) ... 1 2 6 Big River (Is) . . ... 0 0 6 0 0 9 Clutha River (2s) 0 1 0 — Gillespie’s (Is) 0 0 5 0 0 6 Nokomai (5s) 0 0 11 0 1 3 Okarito (5s) 0 0 7 — Waitahu (5s) — 0 0 9