MORE BUSINESS RECORDED

Evening Star, Issue 23684, 18 September 1940, Page 9

MORE BUSINESS RECORDED

RAPID RISE IN DRUG RIGHTS GOVERNMENT LOANS ALSO MOVE The rapid rise of the rights to the new New Zealand .Drug issue was perhaps the most outstanding feature of this morning’s callover on the Dunedin Stock Exchange. A sale took place at £1 6s 6d. this being the highest figure locally, although it was equalled in Wellington yesterday, and surpassed in Auckland by l£d. Further advances took place in bids for long-term Government loans, bub offers of these are very few and far between. A number of banking shares were on offer, and a sale of Unions was reported at £7. A definite interest in mining shares was displayed, and resulted in a sale of Gillespies at s^d. SALES REPORTED. —Yesterday.— Bank of New Zealand, £2 2s 6d. Union Bank, £7. Electrolytic Zinc (ord.), £2 11s fid. —This Morning.— Union Bank, £7. Westport Coal, £1 2s 9d. —On ’Change.— New Zealand Drug Eights, £1 6s fid. Gillespies (after call), s]d. WEST COAST GOLD RETURNS [Per United Press Association.] GREYMOUTH, September 18. The returns for the first half of September are:— Barrytown dredge, 2460 z for 211 hours (78,000 yards treated). ■ Kanieri, 4670 z for 204 hours (93,000 yards). Arahura, 4280 z for 264 hours (166,000 yards). MILNE AND GHOYCE LTD. TRIBUTE T 8 THE LONDON OFFICE STAFF [Per United Press Association.] AUCKLAND, September 18. “ Before concluding I must pay tribute to the members of our London office staff.” said Mr J. S. Milne (chairman of directors of Milne and Clioyce Ltd.), in moving the adoption of the report and balance sheet at the thirty-ninth annual meeting of the company to-day. “ The cheerinoss of their letters, the celerity with which they handle business, and their calm courage in the face of all they are passing through is a wonderful example, and I am sure the allocation of a bonus to them will have your full support.” Mr- Milne said this year’s trading had shown a substantial increase. Including income tax accretions, mortgage creditors and depositors, the company’s liabilities totalled £122,888, and against that there were assets in stock, debtors, and cash amounting to £222,455. The staff numbered 596, and w&uld again share in the company's profits. The report and balance sheet were adopted. - : The retiring directors, Mr" 3. Bruce Elliot and Mr 11. V. Choyce, were re-elected. FOURTH-PERIOD LICENSES EXTENSION OF TIME ASKED At a meeting of the council of the United Kingdom Manufacturers and New Zealand Representatives’- Association (Inc.), which was held in Wellington, the matter of the fourth period import licenses was considered. These are at present due to expire on December 31, but in view of the great dUiculties under which United Kingdom m. nufacturers are at present working, it was not possible in some cases for goods to be shipped in time to arrive here by December 31. It was decided to make representations to the Minister of Customs asking for an extension of the time for the use of these licenses to June 30, 1941. Such an extension, it was felt, would be a contribution to the United Kingdom’s efforts to maintain its export trade. Every effort was being made by the United Kingdom to maintain—if not expand—its export trade, and the home market was in some cases being kept short in order to cater for the export trade. It was also decided to ask the Minister to issue the fifth period licenses as early as possible, and to issue them to cover the whole of 1941 and not for a six months’ period, as has been observed in the past. SMALLER YARDIN'GS SOUTHLAND STOCK SALE [Per United Press Association.] INVERCARGILL, September 17. I# practically all sections the yarding at the weekly Lorneville stock sale to-day was smaller numerically than the previous week. The entry in the fat sheep section was little more than half that offered the previous week, and the quality, taken all round, was only fair. The yarding included a few pens of good quality wethers, but very few prime ewes. The presence of several outside buyers resulted in a rise of from 4s to 5s a head on rates ruling at the last sale. Prime heavy-weight wethers brought from 44s 9d to 48s, prime medium weight wethers from 42s 6d to 455. medium from 36s to 38s, and lighter from 32s to 355. Prime medium weight ewes made from 35s to 37s 6d, medium 32s to 345, and lighter from 28s to 30s. The fat cattle yarding was a good quality one, some exceptionally prime steers and heifers being offered. The market showed an advance of from 15s to £1 a head all round. Prime heavy ox beef made up to £23, prime handy weight bullocks from £l6 to £lB. lighter and unfinished £l2 to £l3 10». Extra prime cows made up to £lB, good bandy weight cows from £l3 to £ls, lighter £9 to £lO 10s. Prime heavy heifers brought to £l6 10s, medium weights from £l3 to £ls, with lighter sorts from £lO to £ll 10s. PRDPERTY SALES Messrs Haggitt, Duthie, and Campbell report having sold a wooden bungalow at 64a Clyde street to Mr S. Cottle, on behalf of the absentee owners, Messrs J. and J. Stewart. The same firm has also disposed of Mr W. M’Cullocb’s residence, 37 Normanby street, to Mrs J. J. Morrison. SYDNEY STOCK EXCHANGE Press Association—By Telegraph—Copyright SYDNEY September 17. The following were the morniim sales on tho Slock Exchange:— Commercial Bank of Sydney, £l9 Is: Bank of New South Wales, £26; Anthony Hordern, 13s 4d: Australian Consolidated Industries. £1 15s 6d (contributing), 17s; British Tobacco, £2 8s 9d; Broken Hill Proprietary. £2 4s 3d.