COMMERCE AND FINANCE

Otago Daily Times, Issue 24412, 25 September 1940, Page 2

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE FURTHER GAINS RECORDED - Several lines showed a firmer tendency on the Dunedin Stock Exchange yesterday, and there was a fair turnover. National Banks sold firmly at £2 and Unions were unchanged with a sale at £7. Bank of New Zealands were wanted at £2 2s, and the offer for the long D shares was steady at £1 Bs. Little interest was shown in insurances, though several lines were on offer. Both issues of New Zealand Refrigeratings were dealt in, the paid-up shares having business at £1 Os 9d and p £l 0s lOd, while the contributing shares realised 9s sd. Both lines continued in demand. Industrials were all well supported. Broken Hills were firmer at £2 6s (buyer) and £2 7s 3d (seller), and McKenzies were up to £2 4s, with no seller in the market. New Zealand Drugs sold firmly at £3 14s. and the rights rose to sell at £1 6s lOd. Australian mining shares had a good inquiry, but sellers were reticent, and the only transaction recorded concerned a parcel of Mount Lyells,■which realised £1 Bs. YESTERDAY'S SALES DUNEDIN Sales Reported

N.Z. Refrigerating (cont.) .... 0 9 6 Mac Duffs (ord.) 0 10 6 AUCKLAND Sales on 'Change.—Bonds, 1943-46, 4 p.c, £lO2 15s; Bonds, 1946-49, 4 p.c, £lO5 10s; Bonds, 1952-55, 4 p.c, £107; -Elthani County, 1960, 4j p.c, £106; Takapiina Borough, 1954, 3 p.c, £97 15s; Auckland Gas (perpetual stock), £lOl 15s; Bank of New Zealand, £2 2s 6d; National Insurance, 18s 9d; New Zealand lusurance, £3 0s 6d; F.A.C. (A pref.), £1 2s; A.C.1., £1 18s; Australian Iron and Steel (pref.), £1 6s 3d; Farmers' Trading, £1 Os 3d; New Zealand Drug (rights), £1 7s; Radio (1936, late sale), 12s 3d; Taranaki Oil Development, 3s 2d; Woolworths (N.Z.. odd lot), 16s 7d. WELLINGTON Sales on 'Change.—4 p.c Stock, 1958, £lO7 17s 6d; Eltham County Council, 44 p.c, 1960, £106; Bank of New Zealand (3), £2 2s 3d; National Bank of New Zealand, £2; Goldsbrough, Mort, £1 6s; New Zealand Refrigerating (cont., 2), 9s 6d; Broken Hill Proprietary (2), £2 6s 6d, (2), £2 6s; Electrolytic Zinc (pref.), £2 13s 6d; New Zealand Drug, £1 14s 3d; New Zealand Drug (rights, 2), £1 6s 9d; Taranaki Oil Development, 3s 2d; Argo Gold, Bd. CHRISTCHURCH Sales on 'Change.—New Zealand Drug Company (rights), £1 7s; 4 p.c. Stock, 1943-46, £103; Grey River, 17s; Broken Hill Pty., £2 6s 9d. Sales Reported.—4 p.c Stock, 1954-58. £lO7 17s 6d; Bank of New Zealand, £2 2s 3d; New Zealand Refrigerating (10s paid), 9s 6d; New Zealand Breweries, £1 14s 6d; British Tobacco (2), £2 9s 3d; Broken Hill Pty. (2), £2 6s 6d; MacDuffs, 10s 6d; Australian Iron and Steel (pref.), £1 6s 3d. RABBIT SKIN SALE "GOOD PRICES STILL RULING

The Duncdin Stock Agents and Wool Brokers' Association (Messrs Dalgety ana Co.. Ltd.; Donald Reid and Co., Lid.; Stronach, Morris, and Co.. Ltd.; New Zealand Loan and Mercantile • Agency Company, Ltd.; Wright. Stephensqn, and Co.. Ltd'; Otago Farmers' Co-op. Association, Ltd.: and National Mortgage and Agency Company. Ltd.) reports as follows: ' Quantities were smaller at yesteidays auction, the total submitted being approximately 33 tons. The quality has deteriorated considerably since the last sale, a big proportion of summers, springs and outgoings being on offer. Competition was keen, all grades being in request Bucks on the average depreciated id to 6d. while does ruled par to 3d higher. Hatters also met a firm market. Firs bucks sold to 104 d; second bucks. lOpci, first does, 91|d; second does, 82d; spotted bucks, 84Jd; spotted does, 71Jd; furrier does 79Jd. Values have kept up remarkably well this season, and on prices paid yesterday, trapping is still payable. The official range of prices is as follows:—Small. 17d to 183 d per lb; runners,' 27d to 29d; light racks. 30 jd to 34jd; summer bucks, 324 d to spotted winter bucks, 80d to 84£d; spotted winter does, 69d to 71Jd; second winter bucks, 90d to lOOd; second winter does, 73*d to first winter bucks. IOOd to 104 d; first winter does, 89d to 93id; outgoing winter bucks, 69d to 73Jd; outgoing winter does, 58d to 68d; furrier does, <4d to 79ia, spring bucks, 55d to 58d; spring does 37£d to 45Jd; stained does, 44d to 50d, first milky, 32Jd to 37d; milky. 31WI to 32 Jd; summer broken, 302 dto Mia, autumn broken, 313 d to 35d; second winter broken, 34id to 36Jd; first winter broken, 38Jd to 39Jd; summer fawns, 24d, autumn fawns, 40d to 60d; first winter fawns, 60d to 74£d; summer black, 24d to 25d; outgoing. 383 d to 44*d; first winter black 62id to 73id; first hareskins, to 38d; hareskins, 26Jd to 30d: horsehair. 292 d to 32}d; super ferrets, 12s 6d to 13= 10d; first ferrets. 9s to 13s; second ferrets. 4s to 7s 6d. , , _ . . „ The next sale will be held on October 8. SOUTH BRITISH INSURANCE FINAL DIVIDEND DECLARED (Per United Press Association) AUCKLAND, Sept. 24. A final dividend of Ma share, plus a bonus of 3di a share, is to be recommended by the directors of the South British Insurance Company, Limited, 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 BJd 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. SINKING ARTESIAN WELLS The tender of J. M. Stewart for sinking 1000 feet of deep six-inch artesian wells for the Hastings Borough Council has been accepted.

LATEST QUOTATIONS McKENZIES STORES WANTED The following are yesterday afternoon's buying and selling quotations on the Dunedin Stock Exchange, which are subject to the usual brokerage:— N.Z. GOVERNMENT LOANS

MINING NEWS WHITE'S GOLD DREDGING COMPANY. 1 le White's Electric dredge return for the week ended September 19 was 520 z lldwt from 9180 yards (127 hours' dredging time). GILLESPIE'S BEACH RETURN The secretaries of Gillespie's Beach Gold Dredging Company, Ltd., report that the wash-up for the week ended September 21 was 440 z 16dwt for 132 hours from 16,400 cubic yards. .OVERSEAS TRADE IN JULY SUBSTANTIAL EXCESS OF EXPORTS The value of merchandise exported during July was £5,029,475—a decrease of £4,464,715 below the June figure, but an increase of £1,472,735 above the total for July of last year (says the latest Abstract of Statistics). Commodity imports fell from £4,898,568 in June to £4,060,709 in July—a decrease of £837,859. The total for July, 1939, was £4,079,633. The result of the month's external trading in commodities was an excess of exports amounting to £968,766, compared with an import excess of £522,893 for July, 1939. A comparison of the elapsed seven months of the current calendar year with a similar period of 1939 reveals that the value of exports has increased by £9,282,055, while imports have decreased to the extent of £3,336,074. The excess of exports over imports for the seven months of 1940 amounted to £20,731,025, compared with £8,112,896 in that period of 1939. AUSTRALIAN STOCK EXCHANGES (United Press Association) (By Electric Telegraph—Copyright) SYDNEY, Sept. 24. (Received Sept. 24, at 10.30 p.m.) Most of the transactions on the Stock Exchange to-day were around late rates, with business along quiet lines. The Morning Sales.—Bank of Australasia, £7 6s 6d; Austral Gas (A), £5 8s; British Tobacco, £2 8s 9d; Electrolytic Zinc, £2 lis 6d; Felt Textiles, £1 12s 6d. Additional Sales.—Colonial Sugar, £47 10s; Woolworths, 18s Id; Wool worths (New Zealand), 10s 6d; David Jones, £1 lis 6d; Consolidated Industries, £1 15s 6d; Consolidated Industries (cont.. New Zealand delivery), 17s 6d; Drug Houses, £1 6s 7Jd; 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, Sept. 24. Commercial Bank of Australia, 14s; Huddart, Parker, £2 9s 9d; Dunlop Perdriau, 18s 6d; United Provisions, 6s 3d.

£ s. d National Bank (2) .. . ■' .. 2 0 0 Union Bank . .. 7 0 0 N.Z. Refrigerating (paid) . . .. 10 9 1 0 10 N.Z. Refrigerating (cont.) . . .. 0 9 5 N.Z. Drug . .. 3 14 0 N.Z. Drug (rights; 2) .. . . .. J 6 10 Mount Lyell .. .... . . .. 18 0 Sales Reported After Last Call

Buyer. Seller. £ s. d. £ s . d 3h p.c. Bonds, 1953-57 100 5 0 — 3k p.c Stock. 1953-57 100 5 0 — 4 p.c. Stock, 1940-43 .. 100 10 0 — 4 p.c. Bonds, 1943-46 .. 102 5 0 — 4 p.c. Stock, 1943-46 .. 102 5 0 — 4 p.c. Bonds, 1946-49 .. 105 0 0 — 4 p.c. Stock, 1946-49 .. 105 0 0 — 4 p.c. Stock, 1949-52 .. 106 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 — MINING Austral N.Z. Mining (£1) 1 3 9 — Big River (Is) .. .. 0 0 6 0 0 9 Clutha River (2s) 0 1 0 — Gillespie's Beach (Is) 0 0 5 0 0 6 Nokomai '5s) .. .. 0 1 0 — Okarito (5s) .. .. 0 0 6 — Waitahu (5s) .. .. 0 0 7 0 0 Bh BANKING N.Z. (£1) 2 2 0 — N.Z. (long D; £1) .. 1 8 0 — Natl, of N.Z. (£2 10s) 1 19 6 2 1 0 Union (£5) .. .. — 7 2 0 INSURANCE National (7s) .. .. _ 0 19 1 New Zealand (£1) .. — 3 1 0 Standard (£1) .. .. 2 17 6 — SHIPPING U.S.S. Co. (pref.: £1) 1 6 0 - MEAT PRESERVING N.Z. Refrig. (paid; £1) 1 0 6 _ N.Z. Refrig (cont.; 10s) 0 9 4 0 9 1 South, Frozen Meat (paid; £1) .. .... 1 15 0 — South. Frozen Meat (pref.; £1) 1 15 0 — Waitaki Farmers (£5) 4 13 6 —• LOAN AND \GENCT Natl. Mortgage (£2) _ 2 0 0 Natl. Mortgage (B issue; £1) .. .. 1 0 0 _ N.Z. Guarantee Corp. (3s) 0 3 3 — Perpetual Trustees (18s) 2 10 0 — Wright. Stephenson (pref.: £1) .. .. 0 19 9 — COAL AND OIL Kaitangata (16s) 1 8 0 1 11 6 Westport (10s) .. .. 1 2 8% — Westport - Stockton (pref.; 10s) .. .. 0 5 3 — Taranaki Oil (£1 4s 7d) -r 0 6 9 WOOLLEN COMPANIES Bond's Hosiery (£1) 1 7 0 _ Bruce (ord.; £1) 0 18 3 — Kaiapoi (cont.; 7s) .. 0 5 0 — Kaiapoi (pref.; 17s) .. . 0 17 0 — Timaru (£1) .. .. 0 12 0 — MISCELLANEOUS i Aust. Consold. Indus. (£1) 1 14 0 — Aust. Iron and Steel (pref.; £1) .. .. 1 6 0 — Broken Hill Pty. (£1) 2 6 0 2 7 3 Chas. Begg and Co. 1 1 0 — Crystal Ice (£1) 2 0 0 — D.I.C. (pref.; £1) .. 1 3 6 — Dominion Fertiliser (£1) •• 1 7 0 — Dominion Rubber (£1) .'. .. .. .. — 1 1 3 G. J. Coles (£1) .. 3 5 6 — Kauri Timber (£1 5s) — 1 4 0 MacDuffs (ord.; £1) 0 10 3 — MacDuffs (pref.; £1) — 0 19 6 MeKenzies Dept. Strs. (£1) 2 4 0 — McLeod Bros. (£10) 27 0 0 — Natl. Electric (£1) .. 0 176 0 18 0 N.Z. Drug Co. (£2) 3 13 9 3 15 0 N.Z. Drug Co. 1 6 6 1 7 0 Otago Daily Times (£1) .. .. : .. .. «1 19 3 — Regent Theatre (£1) . _ 1 0 6 Southland Ice Cream (£1) .. 1 2 6 — Woolworths (Sydney; 0 18 2 — BREWERIES N.Z Breweries (£1) — 1 15 0 Dunedin (£1) .. .. — 1 5 0 Carlton (£1) .. •• 3' 2 0 . — AUSTRALIAN MINING Broken Hill South (5s) 1 5 9 —■ fcjectro. Zinc (ord.; £1) 2 11 0 — Electro. Zinc (pref.; £1) 2 12 0 — Emperor (10s) .. .. 0 10 9 — Mount Lyell (£1) .. 1 7 11 — Mount Morgan (2s 6d) 0 8 0 — North Broken Hill (5s) 1 16 0 — Wellington Alluvials (2s) — 0 4 6 UNLISTED : STOCKS All stocks in this section are not quoted on the official list, and transactions are subject to a different rate of brokerage :— Buyer. Seller. £ s. d. £ s. d. Dunedin Ice Cream .. 1 4 6 — Mackintosh - Caley - 0 8 0 0 9 3 Booth Macdonald 0 3 9 -*