COMMERCIAL

Evening Star, Issue 24285, 28 August 1942, Page 4

COMMERCIAL

SHARE MARKET, The demand for New Zealand Government Stocks was again maintained at this morning's call-over at the Stock Exchange, with few changes in recent rates. Four per cent. Bonds and Stock (1946-49) had risen to £lO4 12s 6d (buyers) and Rural Bonds to £lO4 12s 6d (buyers). Following a reported sale at 39s 6d, the Bank of New Zealand quotation was 39s 3d (buyer), 39s 9d (seller). After a reported sale at 7ls, E.S. and A. were still on offer at 725. In meat preserving there was a close market in New Zealand Refrigerating (cont.), a buyer offering 9s sd, with a seller Id away. Recent rates were still ruling in loan and agency. In gas, coal, and oil a sale of Kaitangata was reported at 325, with a buyer still offering 31s 9d. Taranaki were quoted at ss-6d. In woollen, Kaiapoi (cont.) had risen slightly, a buyer offering 7s Bd. In the miscellaneous section, Booth, Macdonald (pref.) were wanted at 6s 4d, Dominion Fertiliser at 18s, and New Zealand Drug Company at 755. After a reported sale at 35s 6d, Milburn Lime wore still on offer at 365. In Australian mining, Broken Hill South were quoted at 21s (buyer), 22s 6d (seller). A sale of Mount Lyell was reported at 26s 6d, after which the market closed at 25s 9d-26s 9d. REPORTED SALE. —Late Yesterday.— Kaitangata, 325. Mount Lyell, 26s 6d. —This Morning.— Bank of New Zealand, 39s 6d. E.S. and A., 71s. Milburn Lime, 35s 6d. RETENTION MONEY DEDUCTION. In connection with tlio recent wool appraisal in Auckland, the first of the new season, advice lias been. received by the Auckland AVoolbrokers’ ’Association from j lie Internal Marketing Department that Ihe retention money to be deducted from the account -ales will be the same as last year for old wool—namely, 5 per cent., but in the case of new season’s wool it will bo 10 per cont. While the old wools were valued on lasi year’s rales, it was understood Unit the new season’s’ would receive the benefit of the 15 per cent, advance agreed to by the British Government, and it is from this portion that the 10 per cent, is to be withheld.

A message from Wellington says that no official information has been received by the wool brokers as to why the additional deduction has been made. The 10 per cent, deduction applies to the Wellington crutchings appraisal of 4,252 bales finished on August 12, prompt date for which was to-day. To allow the necessary adjustments to the account sales, prompt date has now been extended to-September 3. The crutchings submitted at the appraisal were valued on the now schedule which has added the 15 per cent, increase recently granted by the United Kingdom. INTERIM DIVIDEND. (P.A.) WELLINGTON. August 27. The Northern Roller Milling Company advises that an interim dividend on the preference shares of 5 1-5 per cent, per annum, Jess security taxes, is payable next month. SALES ON ’CHANGE: THIS DAY. Auckland. —Morning call; National Bank of New Zealand, 425; Bank of New South Wales, £29; Westport Coal, 255; Colonial Sugar, £4B 15s. Noon call: National Bank of Australasia (odd lot), £ll 10s; Bank of New South Wales, £29; Howard Smith, 20s; South British Insurance, 61s 6d (2); Auckland Gas (perp. deb. stock), £79. Wellington.—Bank of New Zealand (ord.), £1 19s 6d; Colonial Sugar, £4B 12s 6d. Reported: Booth Macdonald (pref.), 7s. Christchurch.—Bank of New Zealand. 39s 6d. Reported: Australian Consolidated Industries, 46s 6d.