GOVERNMENT LOANS RISE

Evening Star, Issue 23680, 13 September 1940, Page 9

GOVERNMENT LOANS RISE

MARKET OTHERWISE STEADY ELECTRO-ZINCS CHANGE HANDS Bids for Government loans reached new ,'evels on the Dunedin Stock Exchange this morning, but there were no offers. The long term 1954-58 issues were inquired for at £lO7, and other values were increased proportionately. The bid for Macduffs (ord.) rose to 9s 6d, with the preference shares still at 18s 6d. Values of New Zealand Drug rights have been hardening steadily since the beginning of the month, when a sale was reported (September 3) at £1 4s 3d. A sale reported to-day was at £1 5s 4d. ' Otago Daily Times ' was inquired for at £1 19s 6d, after a long absence from the list. Breweries were represented mainly by offers at late rates. Electrolytic Zincs changed hands at £2 10s. New Zealand mining shares are commanding interest. SALES REPORTED. —Yesterday.— New Zealand Drug (rights), £1 5s 4d. Woolworths (Sydney), 18s. —This Morning.— Broken Hill Proprietary, £2 5s 6d. New Zealand Drug (rights), £1 5s 4d. —On 'Change.— Electrolytic Zinc (ord.), £2 10s. QUIET WEEK FRUIT AMD PRODUCE "Keilly's report that during the week a fairly quiet period has been experienced in the fruit markets, with fair supplies coming to hand. Smaller consignments of apples are arriving, with some exceptionally fineojiality Delicious. Cooking apples are in short supply, and only small parcels of pears are being marketed. Increased supplies of cut flowers are arriving, with a satisfactory demand. A further shipment of ■.oranges, due shortly, should have a good inquiry. Lomons are also expected at the same time. Ripe bananas have a good inquiry, with supplies short of requirements. Small consignment* of New Zealand grapefruit are coming to hand, and for these the market is firmer. Small supplies of tomatoes are coming forward. Fresh vegetables have beer in good supply, spring cabbages and cauliflowers realising fair values. Goodquality lettuces have a demand at fair values. Other lines of fresh vegetables have a fair inquiry. Carrots and parsnips are still ini over-supply, and extreme difficulty is being- experienced in placing supplies of these. Table potatoes are also most difficult to dispose of at the extremely low values which have to be accepted. Good-quality table onions are selling satisfactorily. Seed potatoes are meeting with a slow sale. Whitebait has been in fairly heavy supply, and prices are lower. Consignments of rhubarb are increasing, and values consequently dropping. There is no change m values of eggs, with only a fair demand. There was a smaller penning of birds for tit. weekly poultry sale, with fair values rfalised for all lines. MINING NEWS JONES-NEVIS SLUICING. The' annual meeting of shareholders in tne Jones-Nevis Sluicing Company was held last evening, the chairman of directors (Mr J. Black) occupying the chair. There was a (mail attendance of shareholders. The annual report and balance sheet were adopted without discussion, and it was agreed to forward a letter of congratulation to Mr Frank Jones on the success with which he had worked the claim during the oast year. The retiring directors, Messrs 5. Black and W. H. Wittaker, were reelected, and Mr J. H. A. M'Kcefry was reelected auditor. GREY RIVER RETURN. The Grey Biver Dredging Company's return for the week ended September 11 was 4550* in 132 J hours from 99,356yd5.MORERE OIL BORE. [Per Ukited Press Association.] GISBORNE, September 13. New Zealand Petroleum reports that the Morere well is now carried to a depth of 4,384 ft in hard sticky shale. The bore has been reamed to its full size to a depth of ♦,367ft. The Midhirst well is now 1,983 ft deep in hard sandstone. DAIRY COMPANY SUPPLIERS LOANS REGULATIONS ISSUED [Peb United Press Association.] WELLINGTON, September 12. With the object of enabling dairy company suppliers to borrow money from their dairy companies in order to increase Primary production, the Dairy Companies' oans Emergency Regulations were gazetted to-night. The regulations will enable dairy companies whose memoranda or articles of association do not provide borrowing nowers to borrow from the State Advances Corporation to leud money to their suppliers for the purpose stated. The Finance Emergency Regulations, 1940, Amendment No. 2, particularly Regulation 12, which permits a company desirous of raising additional finance to do ao with the consent of the Minister of Finance, will not apply in preventing a company borrowing from the State Advance* Corporation to relend to its supplier*. AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copy right SYDNEY, September 12. The share market lapsed back into cautiousness with a weakening in investment stocks. Mornin" Sales.—Commonwealth Bonus. 4 per cent., 1941, £lOl 13s 9d; 4 per cent.. 1961 £109; Commercial Bank of Sydney, £18'l0»; Tooth's, £2 8s 9d; Anthony Hordern 12s lid; Australian Consolidated Industries, £1 15s; Broken Hill Proprietary, £2 i; Colonial Sugar, £46 10s. Afternoon Sales.-Bank of New feouth Wales £25 10s; Bank of Australasia, £7 st; Huddart, Parker, £2 10s 6d; Meggits, £1 lis 6d; Felt and Textiles, £1 19s; Con•olidated Industries, £1 14s 10d; Consoliflated Industries (contributing, New Zealand elivery), 16s 6d; Victoria Nyanza, 6s 4d; Mount Morgan, 8s; Kanien, £1 ss. MELBOURNE, September 12. National Bank (£5 paid), £5 14s; Dunlop Perdriau (ex div.), 18s 2d; Imperial Chemicals (pref.), £1 3s 9d; Consolidated Industries (new), 16s 6d; Emperor, 10s 9d; Loloma, £1 2s 6d.