Commerce, Mining, Finance

Evening Star, Issue 23690, 25 September 1940, Page 6

Commerce, Mining, Finance

SAME TRENDS WOOLLEN SHARES NEGLECTED SOME AUSTRALIANS HIGHER There wore only minor fluctuations from lalo rales at the first callover on the Dunedin Stock Exchange this morning. Most lines m demand continued steady Government loans, which were not quoted so extensively, remained at late rates, in one case easing slightly. Woollen shares were for the most part a notable exception from those in demand. The contributing issue of New Zealand Refrigerating moved nearer to a sale at 9s sd, 8s 6d. Australian shares moved up in several instances. Broken Hill Proprietary was bid for at the current price of £2 6s 9d, but there were no offers The bid for A.G.I. moved up to £1 15s, and Woolworths (Sydney) to 18s 4d. Overseas mining issues sharing in this trend were both issues of Electrolytic Zinc. M’Lood Bros, were inquired for at £27 ss. SALES REPORTED. —Yesterday.—■ National Bank, £2 (2). Union Bank, £7. New Zealand Refrigerating (paid), £1 Os 9d, £1 Os lOd. New Zealand Refrigerating (cont.), 9s sd. New Zealand Drug, £3 14s. Now Zealand Drug (rights), £1 6s lOd (2). Mount Lyell, £1 Bs. New Zealand Refrigerating (cont., after call), 9s 6d. Macduffs (ord., after call), 10s 6d. —This Morning.— Auckland' Gas, 8s 4d. —On ’Change.— New Zealand Drug Rights, £1 6s 9d. NORTH BROKEN HILL NET PROFIT FOR YEAR [Per United Press Association.] WELLINGTON, September 25. The directors of North Broken Hill Ltd. have advised the Stock Exchange by cable to-day that the net profit for the year ended Juno 30 was £397,418. RABBITSKINS GOOD PRICES RULING SEASONAL QUALITY DETERIORATION The Dunedin Stock Agents and Wool Brokers’ Association reports as follows: Quantities were smaller at yesterday’s auction, the toal submitted being approximately 33 tons. The quality has deteriorated considerably since the last sale, a bi" proportion of summers, springs, and outgoings being on oifor. Competition was keen, all grades being in request. Bucks on the average depreciated 2d to 6d, while does ruled par to 3d higher. Hatters also met a firm market. First bucks sold to 104 d; second bucks, lOOd; first docs, 91id; second does, 82d; spotted bucks, 84£d; spotted does, 71£d: furrier does, 79|d. Values have kept up remarkably well this season, and on prices paid yesterday, trapping is still payable. The official range of prices is a follows: —Small, 17d to 183 d per lb; runners, 27d to 29d; light racks, 30£d to 34|d; summer bucks, 32|d to 36|d; spotted winter bucks. 30d to 84£d; spotted winter does, 69d to 71£d; second winter bucks, 90d to lOOd; second winter docs, 73jd to 82d; first winter bucks, IOOd to Xo4d; first winter docs, 89d to 931, J; outgoing winter bucks, 69d to 73-lid; outgoing winter does, 58d to 68d; furrier' does, 74d to spring bucks, 55d to 58d; spring does, 37id to 45jd; stained does, 44d to 50d; first milky, 32Jd to 37d; milky, to 32^d; summer broken, 30|d to 32jd; autumn broken, 313 dto 35d; second winter broken, 34Jd to 36Jd; first winter broken, 38£d to 39 Jd; summer fawns, 24d; autumn fawns, 40d to 60d; first winter fawns, 60d to 74£d; summer black, 24d to 25d: outgoing, 38|d to 44£d; first winter black, 62Jd to 73£d; first liaresljjns, 35jjd to 38d; bareskins, 264 dto 30d; horsehair, 29}d to 323 d; super ferrets, 12s 6d to 13s lOd; first ferrets, 9s to 13s; second ferrets, 4s to 7s 6d. The next sale will be-held on October 8.

DUNEDIN STOCK EXCHANGE THIS MORNING'S GALL LATEST QUOTATIONS

DIVIDENDS AND CALLS. The following is a list of shares on which dividends will shortly be payable:— Howard Smith Ltd.—lnterim, 2 per cent, (ord.), quarterly, 6 per cent, (prof.) Sept. 25 Bank of Australasia—Final, 7 per cent Sept. 27 Barnet Glass—Final, 4 per cent. prof., 4 5 per cent, ord Sept. 30 Cox Bros. —Ord., Is a share, prof., 8 2-5 d a share Sept. 30 General Industries Ltd.-Interim, 3i per cent, pref., 5 per cent. ord. Sept. 30 Dunlop Perdriau—First. pref., 5 per cent., ord., 3j per cent. Sept. 30 British Tobacco—Quarterly, 2 per cent. Sept. 30 United Building (Christchurch) Interim, 'per cent Sept. 30 Felt and Textiles —Ord., final, 5 per cent.; pref.. half-yearly, 3 per cent Oct.—l N.Z. Newspapers—lnterim, 8d ashare Oct.—l Woolworths (Victoria) Ltd.—3s per cent, pref Oct. 15 Woolworths Ltd. (Sydney I—Halfyearly, 6 per cent, (ord.) ... Oct. 15 Woolworths (N.Z.) —Final, pref., 9 per cent, per annum. less tax Oct. 15 South British Insurance—Final, 9d a share, plus bonus (3d) Oct. 24

RETAIL PRICES INDEX SLIGHT INCREASE IN LIVING COSTS The retail prices index (base: 1926-30 equals 1,000) for the three food groups for July shows an increase of three points since June (from 1,071 to 1,074), reports the Government Statistician. The general slight advance in the price of meat was reflected by an increase of 21 points in the index for this group. Further seasonal reductions in the price of eggs have resulted in a decrease of 17 points in the dairy produce group, but no movement took place m the index for the groceries group. When the July indexes for food and fuel and light are combined with the February rent index and the May for the remaining groups, an all-groups index of 1,024 is obtained, one point above that for tiie previous month and 63.1 per cent, above the 1914 level. The increase in the all-groups index as compared with August, 1939, is 2.9 per cent. The wholesale prices index (base; 1926-30 equals 1,000) rose 15 points in July (from 1,190 to 1,205). An increase of 29 points in the index for imported commodities, due principally to the liigher prices ruling for metals and textiles, was counterbalanced to some extent by a decrease of six points in the index for locally-produced commodities, caused by seasonal reductions in the prices of eggs and potatoes. The export prices index (base: 1909-13 equals 1,000) at 1,532 in July is higher by eight points than in June. Sharp advances in the prices of sheep and rabbit skins (resulting in an increase of 173 points in the index for the skins and hides group) were the principal cause of the rise. Other groups show little change, the movement in the principal indexes being:—lncreases: Minerals, 31 points; timber, 29 points. Decrease: Meat, 15 points. The share prices index (base; 1926 equals 1,000) for all groups at the end of July was 891, an increase of 39 points as compared with the June index. The index for industrial shares separately was 918, an increase of 30 points over that for the previous month. SOUTH BRITISH INSURANCE DIVIDEND AND BONUS [Pek United Press Association.] AUCKLAND, September 24. A final dividend of 9d a share, plus a bonus of 3d a share, is to be recommended by the directors of the South British Insurance Company Ltd., at the annual meeting of shareholders, to be held on October 24. If approved, the dividend will be paid on the same day. An interim dividend of BJd a share was paid in April last, so that the total distribution for the year ended August 31, including the bonus, will be Is B£d a share, equal to 17 1-12 per cent., compared with Is 5d a share, or 14 1-6 per cent, in the previous year. MINING NEWS WHITE’S ELECTRIC. The White's Electric dredge return for the week ended September 19 was 520 z lldwt from 9,180 yards (127 hours’ dredging time)., AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyright SYDNEY, September 24. Most of the transactions oh the Stock Exchange to-day were around late rates, with business along quiet lines. Morning Sales.—Bank of Australasia, £7 6s 6d ; Austral Gas (A), £5 8s; British Tobacco, £2 8s 9d; Electrolytic Zinc, £2 11s 6d; Felt Textiles, £1 12s 6d. Afternoon Sales.—Colonial Sugar, £47 10s; Woolworths, 18s Id; Woolworths (New Zealand), 10s 6d; David Jones, £1 Us 6d; Consolidated Industries, £1 15s 6d; Consolidated Industries (cont., New Zealand delivery), 17s 6d; Drug Houses, £1 6s 7£d; Drug Houses (New Zealand delivery), £1 6s 6d; Carpenter, £1 17s 6d; Placer Development, £3; Zinc Corporation, £3 4s 9d; Broken Hill Proprietary, £2 4s 6d; South Broken Hill, £1 5s Id. MELBOURNE. September 24. Commercial Bank of Australia, 14s; Huddart, Parker, £2 9s 9d; Dunlop Pcrdriau, 18s 6d; United Provisions, 6s 3d.

Buyers. Sellers. £ s. d. £ s. d. N.Z. GOVERNMENT LOANS3£ p.c. Bonds, 1953-57 100 5 0 — 34 p.c. Stock, 1953-57 100 5 0 — 3| p.c. Slock, Nov. 15, 1941 ICO 5 0 — 4 p.c. Stock, Marcli. 1940-43 ICO 5 0 — 4 p.c. Bonds, 1943-46 1C2 5 0 — 4 p.c. Stock, 1943-46 102 5 0 — 4 p.c. Slock, Nov., 1949-52 306. 10 0 — 4 p.c. Bonds, 1952-55 106 10 0 — 4 p.c. Stock, 1952-55 106 10 0 — 4 p.c. Bonds, 1954-58 107 5 0 — 4 p.c. Stock, 1954-58 107 5 0 “ BANKINGAustralasia (£5) — 8 0 0 Now Zealand (£1) ... 2 2 0 — New Zealand, Long “ D ” (£1) 1 8 0 1 9 6 E.S. and A. (£3) ... — 4 15 0 National of New Zealand (£2 10s) ... 1 19 9 — Union of Australia Ltd. (£5) ... ... 6 19 0 INSURANCE— National (7s) 0 18 8 0 19 1 Standard (£1) 2 17 6 SHIPPING — Howard Smith (£1) 1 1 0 — U.S.S. Co. (pref., £1) 1 6 0 MEAT PRESERVING— Canterbury (prof., £5 6 10 0 — N.Z. Refrigerating (paid, £1) 1 0 8 — N.Z. Refrigerating (cont., 10s) 0 9 5 0 9 6 Southland Frozen (paid. £1) 1 15 0 — Southland Frozen (pref., £1) 1 15 0 — Waitaki Farmers’ Freezing (£5) 4 13 6 — LOAN AND AGENCYN.Z. Guarantee Corporation (3s) 0 3 3 — Perpetual Trustees (18s) 2 10 0 — Wright, Stephenson (ord., £1) I 1 0 3 Wright, Stephenson (pref., £1) 0 19 9 — COAL— Kaitangata — 1 11 6 Westport 1 2 6 — West port-Stock ton. (pref.) 0 5 6 — WOOLLEN COMPANIES— Bruce (ord,, £1) 0 18 3 — Kaiapoi (pref., 17s) 0 17 0 — MISCELLANEOUS— Australian Consol. Ind. (£1) 1 15 0 — British Tobacco (21) — 2 10 0 Broken Hill Proprietary (£1) 2 6 9 — Crystal ice Co. (£1) 2 0 0 — D.I.O. (pref., £1) ... 1 3 6 — Dominion Fertiliser (£1) 1 7 0 — Dunedin Stock Exchange Proprietary (£1) —• 1 15 0 G. J. Coles 3 5 6 — Macduff's Ltd. (ord,, £1) 0 10 3 — M‘K.enzies Dept. Stores (£1) 2 4 6 — M‘Leod Bros. Ltd. (£10) 27 5 0 — National Electric (£1) 0 17 6 — N.Z. Drug Co. (£2) 3 13 9 — N.Z. Drug (rights) 1 6 6 1 7 0 ‘ Otago Daily Times (£1) 1 19 0 — Woolworths (Sydney, ord., 5s) 0 18 4 _ BREWERIES— New Zealand (£1) _ 1 15 0 Dunedin — 1 5 0 Carlton (£1) 3 2 0 — OVERSEAS MINING— Broken Hill South (5s) 1 5 6 — Electro. Zinc (ord., £1) ... 2 11 6 — Electro. Zinc (pref., £1) 2 13 0 — Emperor Mines, Fiji (10s) 0 11 0 — Mount Lyell- (£1) ... — 1 9 0 Mount Morgan (2s 6d) 0 7 10 — North Broken Hill <5s> ... 1 16 0 — Wellington Alluvials — 0 4 6 N.Z. MINING— Austral N.Z. (£1) 1 3 6 Big River (Is) 0 0 6 0 0 8 Clutha River (2s) ... 0 1 3 — Gillespie’s (Is) 0 0 5 0 0 6 Grey River (10s) ... 0 16 6 — Nokomai (5s) ... , ... 0 1 0 Okarito (5<s) 0 0 6 — Sandhills (Is) — 0 0 1 VVaitahu (5s) 0 0 7 0 0 8i UNLISTED STOCKS— All Stocks in this section are not quoted on the official list, and trail actions are subicet to a different rate of brokerage; Mackintosh Caley Phcenix (£1) 0 8 0 0 9 3 Dunedin Ice Cream 1 4 6 — Booth, Macdonald (pref.) 0 4 0 —