COMMERCE AND FINANCE

Otago Daily Times, Issue 24418, 2 October 1940, Page 2

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE STEADY TONE MAINTAINED A sale of 4 per cent. 1954-58 Government Stock at £IOB 5s was recorded on the Dunedin Stock Exchange yesterday, the market closing with a buyer at £lO7 5s and no sellers forward. Bank of New Zealands were also disposed of at £2 2s 6d, the market remaining unchanged at the close when buyers offered £2 2s and sellers asked £2 2s 6d. National Insurances showed a slight firming tendency with a buyer at 18s 7d. and Standard Insurances also improved slightly, buyers being prepared to give £2 18s. The market for Colonial Sugars continued to improve, buyers’ closing offer being £SO. Crystal Ices were fractionally firmer, with a buyer at £2 Os 6d, and Dominion Fertilisers were sought after at the slightly better price of £1 7s 3d. G. J. Coles were inquired for at £3 6s 6d. YESTERDAY’S SALES

AUCKLAND Sales on ’Change.—Bonds, 1943-46, 4 p.c., £103; Ellerslie Town Board, 1955, 31 p.c., £9B; Mount Albert Borough, 1948, 4j p.c., £lO4 10s; Auckland Gas (2), 8s 4d; Auckland Gas (cont.), 3s sd; Oamaru Wool, £1 0s 6d; Dominion Breweries, £1 10s 3d; Tooths, £2 11s 6d; Consolidated Brick. 7s 6d; Farmers’ Trading, £1 0s 3d; Woolworths (N.Z.), 16s sd; Mount Morgan (late sale), 8s 2d. WELLINGTON Sales on ’Change.—4 p.c. Stock. 1946 (late Mon.), £lO2 15s: South British Insurance (late Mon.), £2 10s; Taranki Oil Developments (late Mon.), 3s 4d: 4 p.c. Stock, 1958, £IOB ss; Auckland Gas, 8s 4d; McKenzies Stores (2). £2 Ss; Woolworths Ltd., 18s 3d. CHRISTCHURCH Sales on ’Change.—Woolworths (Syd.; ord). 18s 3d; Mount Morgan, 8s 3d. Sales Reported,—Bank of Australasia, £8 10s; New Zealand Insurance, £3 0s 6d; New Zealand Refrigerating (£1 paid; late Mon.), £1 0s 9d; New Zealand Refrigerating (£1 paid; 2). £1 0s 9d; Christchurch Gas. £1 ss; British Tobacco, £2 9s 3d; Broker. Hill Proprietary, £2 7s; McKenzies, Ltd., £2 ss; Mount Morgan. 8s 3d; Auckland Gas, 5 p.c. perpetual, £lO2. LORNEVILLE STOCK SALE HIGH LEVEL OF VALUES (Per United Press Association) INVERCARGILL, Oct. 1. There was a much larger yarding of fat sheep at the Lorneville stock sale to-day than there was last week, with a good number of heavy prime wethers and prime young ewes. Values from the start of the sale were slightly easier than at last week’s outstanding sale. Nevertheless, there was a good demand. Wethers were 2s 6d to 3s a head lower, but the margin for ewes was not so pronounced. Prime heavy wethers brought up to 475, prime wethers 42s to 445, medium 38s to 40s, lighter 33s to 355. Prime heavy young ewes brought up to 425, prime ewes from 38s to 40s, medium 35s to 365, lighter from 28s to 30s. The fat cattle yarding was smaller, and. with the exception of a truck or two of prime beasts, the yarding was made up of medium and unfinished sorts. From the outset the market showed an increase on last week’s rates, and prices were from 15s to £1 better. Extra prime heavy bullocks made up to £23 15s, prime heavy bullocks £lB to £l9 10s, medium £ls to /£l6 10s, lighter £l3 to £l4. Prime heavy heifers made up to £l7. prime heifers £l4 to £ls, medium £l2 to £l3 10s, lighter £9 10s to £lO 10s. Prime heavy cows brought up to £l6 2s 6d. prime cows £l3 to £l4 10s, lighter from £9 to £lO 10s. MILTON STOCK SALE VERY SMALL YARDINGS (Special to Daily Times) MILTON, Oct. l. The monthly Milton stock sa'le was held to-day. In contrast to the large yardings seen at this centre since the August series, only three or four pens of sheep came forward to meet with a dragging sale at prices barely equal to those ruling at the previous auction. A large entry of store pigs was penned, and met with a splendid demand. Suckers sold from 20s to 30s, and slips from 32s to 40s, according to size and quality. The attendance was confined entirely to local farmers, who brightened an uneventful sale by holding a ” repeated auction of sonic three or four sheep* the proceeds from which amounted to a considerable sum, which will be given to the local Patriotic Fund. DIVIDENDS AND CALLS The following is a list of shares on which dividends will shortly be payable:— •Hume Pipe, ord.; 6 p.c., prof. pc, Oct. 7 •Woolworths, 7 p.c ° ct ’,l s * Quoted ex dividend on Stock Exchange. PROPERTY SALES Alex Macdonald reports having sold the stock, plant 1 and furniture of the Southern Hotel to Mr Dan O’Connell, on account ot Mr R. E, Tisdall; also a one and a-half storev brick bungalow in Highgatc, on account of Mr Allan Boyd to Mrs Garden: a residence in Kenmurc road to Mr Connell; a bungalow in Embo street to Mr Grimman; a shop and tearooms in High street (Maxims) to Mrs M. Pitts. Park, Reynolds, Ltd., report having submitted to auction, by order of the Perpetual Trustees Company, Ltd., as executors of the will of the late Mr Walter Taine, the seaside residence at the “ Point,” Karitane, consisting of freehold section containing 1 rood 13.3 poles with 5-roomed residence and a wooden cottage. This property is in the popular portion of Karitane and great interest was aroused at the auction sale. After competition the property was sold to MiHenry L. Paterson (as agent) for the sum of £825. The adjoining sections were withdrawn from sale but are for private sale.

LATEST QUOTATIONS

COLONIAL SUGARS FIRMER

The following are yesterday afternoon’s buying and selling quotations on the Dunedin Stock Exchange, which are subject to the usual brokerage:—

MINING NEWS

NEMONA REPORT The Nemona Gold Dredging Company, Ltd., reports that Mr W. H. McAlpine has been appointed dredgemaster of the company’s dredge. Mr McAlpine was dredgemaster of the Worksop dredge until it ceased ooerations. The building of a new steel hull for the dredge has been completed, and work is now in hand on the re-erection of the dredging plant and equipment dismantled from the old, on to the new machine. It is anticipated the new dredge will be completely finished and dredging commenced by the end of October. ( WEST COAST DREDGES WORK PROCEEDING NORMALLY (Per United Press Association) GREYMOUTH, Oct. 1. West Coast dredging operations have been proceeding normally since Sunday. The cessation of work which took place on Sunday was not a strike. The union president, Mr J. Laing. explained that the issue related only to repair work done on Sunday under an understanding with the employers and there would be no interference with normal dredging. NGAHEBE RETURN (Special to Daily Times) CHRISTCHURCH, Oct. 1. During September the Ngahere Gold Dredge worked only 266 hours because of a mishap to the top tumbler and main drive motor. The return for the month was 31Goz from 143,279 yards. Repairs have been made and the dredge is now working satisfactorily. AUSTRALIAN STOCK EXCHANGES (United Press Association) (By Electric Telegraph—Copyright) SYDNEY. Oct. 1. (Received Oct. 1, at 11 p.m.) The tone of the share market to-day was firm, with the customary atmosphere of caution. The Morning Sales.—Commercial Bank of Svdney, £l9 12s; Tooheys, £1 8s 6d: Tooths, £2 10s 3d: Anthony Hordern, 14s: Bradford Cotton, £1 18s 6d; Felt Textiles, £1 13s. Commercial Bank of Australia 14s 4d, G. J. Coles £3 5s 6d, Cash Orders 15s, Felt Textile £1 12s lOd, Morris, Hedstrom £l, Mount Lyell £1 9s 3d, Broken Hill Proprietary £2 4s, North Broken Hill £1 16s 6d, Zinc Corporation £3 4s 3d. MELBOURNE, Oct. 1. Herald and Times £2 7s 9d, Metropolitan Gas £l3 6s, Carlton Brewery £3 5s 6d.

DUNEDIN Sales Reported £ s. d. 4 p.c. Stock, 1954-58 108 5 0 Bank of New Zealand 2 2 G Bank of N.Z. (Long D) .. .. 1 8 6 Broken Hill Pty 2 7 6 N.Z. Refrigerating (cont; late Mon.) 0 9 6

N.Z. GOVERNMENT LOANS Buyer. Seller. £ S. d £ s. a. 3i p.c. Bonds, 1953-57 100 5 0 — 31 p.c. Stock, 1953-57 1U0 5 0 3| p.c. Stock, 1941 101 0 0 —- 4 p.c. Stock. 1940-43 .. 100 10 0 *— 4 p.c. Bonds, 1943-46 .. 102 0 0 — 4 p.c. Stock, 1943-46 .. 102 0 0 —• 4 p.c. Bonds. 1946-49 .. 105 5 0 — 4 p.c. Stock, 1946-49 ., 105 5 0 — 4 p.c. Stock, 1949-52 .. 106 12 6 — 4 p.c. Bonds. 1952-55 .. 106 17 6 4 p.c. Stock, 1952-55 .. 106 17 6 4 p.c. Bonds. 1954-58 ., 107 10 0 <OT» 4 p.c. Stock, 1954-58 .. 107 10 0 MINING Austral N.Z Mining (£1) 1 4 9 — Big River (Is) .. .. 0 0 6 — Clutha River (2s) .. 0 1 8 0 2 2 Gillespie’s Beach (Is) 0 0 5 0 0 6 Martha 0 7 5 0 7 7 Nokomai <5s) 0 1 0 — Okarito (5s) 0 0 6 — Waitahu (5s) .. .. 0 0 7 0 0 82 BANKING N.Z. (£1) 2 2 0 2 2 6 N.Z. (Long D; £1) .. 1 8 0 — E.S. and A, (£3) .; — 4 15 0 Natl, of N.Z. (£2 10s) — 2 1 9 Union (£5) 7 1 0 — INSURANCE National (7s) .. .. 0 18 7 0 19 1 Standard (£1) .. .. 2 18 0 — SHIPPING Howard Smith (£1).. 1 0 0 U.S.S Co ipreL: £1) 1 6 0 — MEAT PRESERVING Canterbury Meat (pref.: £5) 6 10 0 —. N.Z. Refrig. (paid; £1) — 1 0 10 N.Z Refrig (cont.; 10s) .. 0 9 5 0 9 7 South. Frozen Meat (paid; £1) .. .. — 1 16 6 South Otago Freezing (£5) 5 2 0 — LOAN AND AGENCT Natl. Mortgage (B issue; £1) .. .. 1 0 0 — Perpetual Trustees (10s) 2 10 0 2 12 6 Trustees. Executors (£3) 4 2 0 — Wright, Stephenson (ord.; £1) .. .. — 1 0 3 Wright, Stephenson (pref.: £1) .. .. 1 0 0 — COAL AND OIL Kaitangata (16s) — 1 11 6 Westport (10s) .. .. 1 2 6 — Taranaki Oil (£1 4s •7d) — 0 S 6 WOOLLEN COMPANIES Bond’s Hosiery (£1) i 7 0 _ Bruce (ord.; £1) 0 18 3 — Kaiapoi (cont.; 7s) 0 5 0 — Kaiapoi (pref.: 17s) .. 0 16 3 — Wellington (pref: £5) 6 15 0 — MISCELLANEOUS Aust. Iron and Steel (pref.; £1) .. .. 1 6 0 — Broken Hill Pty. (£1) — 2 7 0 Chas. Begg and Co. .. 1 1 0 — Colonial Sugar (£20) 50 0 0 — Crystal Ice (£ 1) 2 0 6 — D.I.C. (pref.; £1) 1 3 S — Dominion Fertiliser (£1) 1 7 3 — Dominion Rubber (£1) — 1 1 6 Stock Exchange Pty. (£1) — 1 14 0 G. J. Coles (£1) .. 3 6 6 — MacDufTs (pref.; £1) — 0 18 9 Milburn Lime (£1).. 2 0 3 — McKenzies Dept Strs. (£1) 2 5 0 2 6 6 McLeod Bros. (£10) 27 10 0 Natl. Electric (£1) .. 0 17 0 0 18 0 N.Z. Drug Co. (£2) — 3 14 9 N.Z. Drug (rights) .. 1 6 : 10 — Otago Daily Times (£1) — 2 0 Regent Theatre (£1).. — i 0 6 Woolworths (N.Z.; ord.; 5s) — 0 16 Woolworths (Syd.: ord.; 5s) 0 18 3 0 18 8 Woolworths (S.A.; 5s) — 0 13 3 Southland Ice Cream (£1) — 1 5 0 BREWERIES N.Z. Breweries (£1) — 1 14 9 Dunedin (£1) — 1 3 6 Carlton (£1) .. .. 3 2 0 — AUSTRALIAN MINING Broken Hill South (5s) 1 5 6 — Emperor (10s) .. .. 0 10 6 — Mount Lyeil (£1) .. — 1 9 9 Mount Morgan (2s 6d) 0 8 0 0 8 4 North Broken Hill (5s) 1 16 0 —