COMMERCIAL

Grey River Argus, 16 September 1937, Page 8

COMMERCIAL

N.Z, SHARE MARKET. LPer Press Association]. DUNEDIN, September 15. Sales: New Zealand Refrigerating (coni.) 9s lid (2); North Broken Hill £3 13s Gel; Mount Morgan Ils; Christchurch Drainage Board, 1965, 41 per cent.. £lO7 ss; Woolworths (Sydney) £6 10s 6d. CHRISTCHURCH, September 15. Sales: Commercial Bank of Sydney £2O; Goldsborough Mort. 33s 8d; New Zealand Refrig. (10s paid) 9s lid, 9s lOd (3); New Zealand Breweries (contr.) 34s 3d; Electro. Zinc (ord.) 555: Electro. Zinc (pref.) 56s 3d; G. J. Coles 95s (3): Woolworths (South Africa) 16s 3d; Grey River (6s 3d paid) 7s 3d; Broken Hill South (ex. div.) 475; Mount Lyell 42s 3d (2), 42s 6s (3); Mount’ Morgan (cum. div.) Ils id. Reported: Christchurch Drainage Board, 41 per cent., 31/12/60 (late sale 14th) £lO7 ss, £lO7 12s 6d; Dalgety and Co.' (late sale 14th) £lO Is. AUCKLAND, September 15. Sales: Bank of New Zealand 455; Farmers’ Auct. (£5 paid) 955; Australian Glass 91s; Milne and Choyce deb. stock 17s. Unlisted: Selfridges (New Zealand, 12s paid) 10s; Woolworths (Sydney) £6 19s 6d, £6 9s. Sales, 12.15 p.m. call: Farmers’ Auctioneering 955; Northern Steam (cont.) 9d; Australian Glass 9R; 6d: British Tobacco 49s 3d; Farmers’ Trading (2) 21s; Taranaki Oil 6s 6d; Woolworths Holdings (S.A.) 16s 3d. WELLINGTON, September 15. ‘ Sales, morning call: G. J. Coles £4 15s (odd lot). Unofficial list: Woolworths Ltd. £6 10s. Sales reported: Christchurch Drainage Board 44/65 £lO7 12s 6d; Bank of New Zealand £2 ss; G. J. Coles £4 15s 3d (odd lot). Sales, noon call: Wellington Gas 365; Grey Valley 8s 9d; Dental and Medical 13s; Taranaki Oil 6s 7d (2); Mount Lyell 42s 7d. The cablegram regarding pending reduction in overseas cable charges was referred to Mr Savage, who said the matter arose out of the conference in England recently, at which the Director-General of the Post and Telegraph Department (Mr McNamara) represented New Zealand. The decisions of the conference would probably be ratified by the New Zealand Government during the next few days, when full information would be made available to the public. LONDON, September 14.

Butter steady. Danish 1325. Choicest salted New Zealand and Australian 116 s. Unsalted New Zealand 118 s, Australian 117 s. Gold 140 s 31=d, dollar 495 7-16, franc 138 9-16. At the wool sales, competition was irregtilar. buyers being hesitant. Greasy merinos declined 5 to 71 per cent., scoured 10 to 12 per cent., crossbreds fine 10 per cent., coarse and medium 5 to 71 per cent. At the wool sales 7539 bales were offered, including 4610 New Zealand, and 4830 were sold. The absence of Japanese buyers at the recent Australian sales was reflected on the opening here, where bidding, although active, was considerably below sellers. The Home trade secured tho bulk. Prices were from five to fifteen per cent, below the close of the last series. New Zealand scoured merinos. Oxford, top price 30d. Slipe halfbred lambs, Belfast, 21d, average 21d. Crossbred lambs, Belfast, 20d, average 20d. CANBERRA, September 15.

After a stormy, protracted debate, the Bill to ratify the agreement for the development of the Newnes shaleoil field passed all its stages in the House of Representatives.

PERPETUAL FORESTS BONDHOLDERS. CANBERRA. September 15. In answer to a question, the Attor-ney-General (Mr Menzies) said that the position of Australian bondholders with New Zealand Perpetual Forests. Limited, had been the subject of considerable correspondence with Mr Savage, and assurances had been received that the rights of the original bondholders had been adequately safeguarded, and were being fully honoured. RUGBY, September 14. The Exchequer returns show that the total ordinary revenue amounts to £277,480,323, compared with £265,944,769 at the corresponding date last year. Income tax, surtax, estate duties, customs, and excise, all show substantially higher yields. The total expenditure, less self-balancing items, is £364,604,495, compared with £346,639,000 at the corresponding date of 1936. The floating debt outstanding, at £898,735,000, shows a net increase of £200.605,000 since the beginning of the financial year, and compares with £843,815,000 at this time last year. The Board of Trade returns for August are as follows: —Imports £86,659.000, exports £42,546,000, re-exports £6,687,000. Principal increases, compared with August last year: Imports, grain and flour £2.502,000. meat £l,207,000, dairy produce £1,180.000. nonferrous ores and scrap £1,048,000, wood and timber £2,774,000, wool raw waste £938,000, hides and skins £l,319,000, rubber £1,328.000, iron and steel £948,000, non-ferrous metals and manufactures £2,558,000, oils, fats and resins £1,309,000. Exports. coal, £994,000. iron and steel manufactures £1,293,000. machinery £724.000, cotton yarns manufactures £879,000. Reexports, hides and skins £782,000, non-ferrous metals and manufactures £1,327,000. Decreases: Imports, cotton raw waste £1,369,000.