Commerce, Mining, Finance

Evening Star, Issue 23679, 12 September 1940, Page 7

Commerce, Mining, Finance

QUIET MARKET UNCHANGED CONDITIONS RULE SMALL ADVANCE IN GOVERNMENT LOANS There was nothing of importance to record in the operations on the Dunedin Stock Exchange this mornii Some 3)vernment stocks improved fractionally There was an offer of E.S. and A. Bank at £4 18s, and Taranaki Oils at 7s 6d. New Zealand Drugs were bid for at £3 14s, with the rights for the new issue at £1 5s Id. SALES REPORTED. —Yesterday.— 4 per cent. Stock, 1949-52, £lO6. Broken Hill Proprietary, £2 5s 6d. Woolworths (Sydney), 18s. New Zealand Drug Eights (late), £1 5s 3d. —This Morning.— Martha Gold, 7s 6d. FRUIT AND PRODUCE QUIET WEEK EXPERIENCED APPLE PRICES RAISED Lovell, Bates Ltd. report:—A quiet week has been experienced m the fruit marts. Supplies of apples are sufficient for the demand, which is not keen Prices increased, although most lines coming forward are showing waste. A shipment of oranges is duo shortly, and lemons are to arrive towards the end of the week. The market for the latter is bare, and a good demand is anticipated. Ripe bananas, of which the condition is excellent, are in good demand. Small consignments of pears continue to reach the market. The condition is poor Regular consignments of grapefruit and Poorman oranges are being obtained from the north, and values remain steady. Tree tomatoes are consigned regularly from Auckland, but prices are much lower than in the north. Supplies of rhubarb increased and values declined. Spinach supplies are limited, with values high. Cauliflowers and spring cabbages command good values. The inquiry for table potatoes continues poor and values have declined further. Large quantities are still held by farmers and merchants, and low prices will have to be. accepted if the potatoes are to be cleared in the limited time available. Table onions have advanced further in value. Choice quality cut flowers are available and are selling well. Values are. as follows: Bananas, 20s 6d to 235. New Zealand lemons, 20s, Apples.—Cooking, 7s; Delicious, 8s to 9s 6d; -Stunner, 8s to 9s 6d; Cleopatra, 7s 6d to 9s; Granny Smith, 7s to 8s 6d; Statesman, 6s to 7s 6d; Rome Beauty, 6s to 7s 6d. Poorman oranges, 10s. Dessert Pears.—Winter Nells, 13s a case; Winter Cole, 13s a case. Island tomatoes, 12s to 14s. Tree tomatoes, 9s 6d a case. Chinese gooseberries, 11s 3d a case. Spinach, 2s 3d to 2s 6d a dozen. Potatoes. —King Edward, £4 a ton ; whites, £3. Onions, 13s a bag. Lettuce, 2s to 3s a dozen. Carrots, 9d to Is a dozen; Is 6d to 2s a bag. Cauliflowers. —Choice, 7s to 8s a sack; others, 4s 6d to 6s a sack. Cabbage, 2s 6d to 3s a sack. Spring cabbage, 3s to 3s 6d a case. Beetroot, Is a dozen. Swedes, Is to Is 3d a sugar bag. Marrows, 2£d lb. Pumpkins, to 2d a lb. Parsnips, 9d to Is a dozen; 2s to 2s 6d a bag. Celery, Is a bundle. Brussels sprouts, 2|d to 31,d a lb. Rhubarb, 3s 6d to 4s 6d a dozen.

FIVE FIGHTER PLANES 1 N.Z. HERALD' READERS' CONTRIBUTION TOTAL OF £33,872 [Pee United Press Association.] AUCKLAND, September 11. The total amount of subscriptions to the New Zealand ‘ Herald ’ Readers’ Aeroplane Fund, £33,872, has been remitted to the Secretary of the Treasury, and the Prime Minister has been asked to send the money to Lord Beaverbrook, the Minister of Aircraft Production in Great Britain. The following cablegram was sent to Lord Beaverbrook: —“ New Zealand ‘ Herald ’ readers within three weeks subscribed over £33,000, which we have requested the Prime Minister to remit to you for the purchase of aeroplanes. This gift is offered as a grateful tribute to the Royal Air Force.” A letter signed by Sir Henry Horton, managing director of Messrs Wilson and Horton Ltd., to the Prime Minister says: “We believe the amount of the ‘ Herald ’ Readers’ Fund will pay for five fighter aeroplanes. Will you please suggest to Lord Beaverbrook that the aeroplanes be named Auckland 1.. Auckland 11., Auckland 111., Auckland IV., and Auckland V.” GILLESPIE'S BEACH ANNUAL REPORT The eighth annual report of the Gillespie’s Beach Gold Dredging Company Ltd., to be presented on Monday, September 23, states: During the year the dredge treated 712,071 cubic yards, yielding 1,5230 z of gold, which realised £14,794 16s 5d after paying realisation expenses £195 19s 9d. The amount deducted from the market price of gold under the gold tax regulations totalled £1,883 9s Id, equivalent to £1 4s 8d per oz of gold won. The net profit for the financial year amounted to £3,596 5s 2d. One dividend of one penny per share, equal to 8 1-3 per cent., has been paid. Values throughout the year have been consistently poor, but with, a tendency to improve as the dredge works southward. During the year one bore was sunk to twice the depth the dredge is capable of dredging to, without locating payable values below present limits. Three others were sunk on previously-dredged ground, locating values left undredged which may prove profitable at a later date if taken in conjunction with adjoining virgin ground. Another three were sunk on the seaward side of the present cut, and were of low grade. The directors announce the retirement from the board of Mr N. K. Sligo owing to failing health. Mr D. A. Mitchell, retired dredge master, was appointed to fill the vacancy.

DUNEDIN STOCK EXCHANGE THIS MORNING'S CALL LATEST QUOTATIONS

AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyright - SYDNEY, September 11. The investment market to-day was steady, with a moderate turnover. Morning Sales. —Bank of New South Wales, £25 15s; Commercial Bank of Sydney, 18s lOd; Australian Paper, £1 9s 9d; Bradford Cotton, £1 17s 6d; Australian Consolidated Industries, £1 15s (contributing, 16s 9d); Colonial Sugar, £46 ss. Afternoon Sales.—Bank of New South Wales, £25 ss; Union Bank, £5 13s; Burns, Philp, £2 10s; Woolworths, 17s Id; Cash Orders, 15s 3d; Morris Hedstrom, £1 4s 6d; Gordon and Gotch, £1 15s; Henry Jones, £2 12s; Milliqin Sugar, £2 3s 6d; Wilcox, Mofflin, 6s 3d; Electrolytic Zinc, £2 9s 6d; Electrolytic Zinc (pref.), £2 11s; Placer Development, £3; Larut, 6s lOd. MELBOURNE. September 11. Metropolitan Gas, £ls 12s; Commercial Bank of Australia, 13s 3d; Carlton Brewery, £3 3s; Coles, £3 Os 9d; Dunlop Perdriau, 18s 8d; Broken Hill Proprietary, £2 2s 9d.

BARNET GLASS REDUCTION IN DIVIDEND The Barnet Glass Rubber Company Ltd. has advised tho Stock Exchange Association that the directors announce that the net trading profit for the year ended June 30, subject to final audit, amounts to £90,859, against which has been charged the loss on the realisation of factory property and plant amounting to £33,000. • Tho directors will recommend to shareholders payment of a final dividend of 4 per cent, for the half-year on the cumulative nreference shares, making 8 per cent, for tho year, and a final dividend of 4£ per cent, on the ordinary shares, making 8 ner cent, for the year ended June 30. If approved, the dividend will be paid on SepI ember 50Tho dividend last year was 10 per cent, on the preference shares and 12 per cent, on the ordinary shares. Net profit for the voar ended June 30, 1939. was shown at £87,207. 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.)—lnt. 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, 3J per cent. Sept. 20 Howard Smith Ltd.—lnterim, 2 per cent, (ord.), quarterly, 6 per cent, (pref.) Sept. 25 Bank of Australasia—Final, 7 per cent Sept. 27 Barnet Glass—Final, 4 per cent. pref., 4£ per cent, ord Sept. 30 Cox Bros. —Ord., Is a share, pref., 8 2-5 d a share Sept. 30 General Industries Ltd.—lnterim, 3i per cent, pref., 5 per cent. ord. Sept. 30 United Building (Christchurch)— Interim, 2J per cent. • Sept. 50 Felt and Textiles—Ord. final, 5 per cent.; pref., half-yearly, 3 per cent Oct. 1 Woolworths (Victoria) Ltd.—3J per cent, pref Oct. 15 Woolworths Ltd. (Sydney)—Halfyearly, 6 per cent, (ord.) Oct. 15

Buyers. Sellers. £ 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 — 3£ p.c. Bonds, 1953-57 100 0 0 — 3i p.c. Stock, 1953-57 100 0 0 — 3J p.c. Stock, Nov. 15, 1941 100 0 0 — 4 p.c. Stock, Mar., 1940-43 103 0 0 — 4 p.c. Bonds, 1943-46 102 5 0 — 4 p.c. Stock, 1943-46 102 5 0 — 4 p.c. Stock, Nov., 1949-52 106 0 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 12 6 — 4 p.c. Stock, 1954-58 106 12 6 — BANKING— New Zealand (£1) ... 2 2 0 2 2 6 New Zealand, Long “ D ” (£1) 1 7 0 — E.S. and A. (£3) — 4 18 0 National of New Zealand (£2 10s) 1 19 0 INSURANCE— National (7s) 0 18 6 — South British (£1) ... 2 9 0 — Standard (£1) 2 17 6 ■*— SHIPPING— Howard Smith (£1) — 1 2 6 P. and 0. Deferred Stock (£1) — 1 0 Ll.S.S. Co (pref., £1) 1 6 0 MEAT PRESERVING— Canterbury (pref., £5) 6 10 0 — N.Z. Refrigerating (cont., 10s) 0 9 3 0 9 8 Southland Frozen (paid, £1) 1 15 0 — Waitaki Farmers’ Freezing (£5) 4 13 6 LOAN AND AGENCY— Goldsbrough, Mort (£1) 1 4 0 — National Mortgage (£2) — 2 0 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 9 COALKaitangata — 1 11 6 Westport 1 2 2 — W estport-Stock ton (ord.) — 0 2 4 W estport-Stockton (pref.) 0 4 9 OIL— Taranaki (£1 4s 7d) — 0 7 6 WOOLLEN COMPANIES— Bruce (ord., £1) 0 18 0 — Bruce (pref., £1) 1 1 0 — Kaiapoi (pref.. 17s) U IV 0 — Wellington (pref., £5) . 6 15 0

MISCELLANEOUSAustralian Consol, lud. 6 (£1) 1 15 — Australian Iron and 6 Steel (pref., £1) ... X 0 — British Tobacco (£1) 2 4 0 — Broken Hill Proprie6 3 0 6 tary (£1) ... •••••• Chas. Begg and Co. 2 1 4 1 0 0 2 1 Brown, Ewing (pref., 0 £1) 1 1 — D.I.C. (ord., 10s) ... 0 12 9 “* D.I.C. (pref., £1) ... 1 5 0 Dominion Fertiliser 7 (£1). 1 0 Dominion Fertiliser 100 Debentures 0 0 — Dominion Rubber (£1) 1 1 0 Donaghy’s Eope and Twine (£1) 2 14 0 — Felt and Textiles (second pref.) 1 4 0 — G. J. Coles ... 3 5 6 — 0 Kauri Timber (£1 5s) 1 1 0 1 4 Macduffs Ltd. (ord., 0 £1) ••• 9 3 Macduffs Ltd. (pref., £1) 0 18 6 — Milburn Lime and 0 Cement (£1) 2 3 — M'Kenzie’s Dept. 0 Stores (£1) 2 2 — M’Leod Bros. Ltd. 26 0 (£10) 0 — National Electric (£1) 0 17 6 0 18 3 N.Z. Drug Co. (£2, ex rights and div.) ... 5 14 0 — N.Z. Drug Co. 1 (rights) ... ... ... 1 5 1 5 6 N.Z. Farmers Ferti0 liser (£1) ... ... 1 0 — 6 N.Z. Paper Mills (£1) 1 9 6 1 10 VVoolWorths (Sydney, ord., 5s) 0 17 9 U 18 6 BREWERIES— New Zealand (£1) ... 1 14 6 1 15 6 Dunedin — 1 5 0 Tooth’s (£1) 2 10 0 2 16 0 Carlton (£1) 3 1 0 OVERSEAS MINING— Electrolytic Zinc (ord., £1) • 2 9 6 — Electrolytic Zinc 0 (pref., £1) ...... 2 11 — Emperor Mines, Fiji (10s) 0 10 9 0 — Mount Morgan (2s 6d) 0 7 10 8 3 North Broken Hill (5s) 1 16 0 — Placer Development 2 15 0 — Wellington Alluvials 0 4 5 — NEW ZEALAND MININGAustral N.Z. (£1) ... 1 3 P — Big River (Is) 0 0 6 — Clutha River (2s) ... 0 1 0 — Gillespie’s (Is) 0 0 5 0 0 6 Martha (5s) 0 7 4 0 — Nokomai (5s) 0 0 10 1 3 Okarito (5s) 0 0 7 0 0 9 VVaitahu (5s) — UNLISTED STOCKS— All Stocks in .this section are not quoted on the official list, and transactions are subject to a different rate of brokerage: Mackintosh Caley Phcenix (£1) 0 8 0 — Dunedin Ice Cream 1 4 6 —