COMMERCE AND FINANCE

Otago Daily Times, Issue 24419, 3 October 1940, Page 2

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE ACTIVITY IN MINING The greatest activity seen for a long time in the New Zealand mining section was recorded on the Dunedin Stock Exchange yesterday. Big Rivers were turned over at 6d, further offers of the same figure finding sellers firm at 7d. Clutha Rivers were firmer, with a sale at 2s, the closing offer being Is 9d, and Marthas, on which a dividend of 6d a share has been declared, were turned over at 7s 6d and 7s 7d. At the close of the market there was a buyer forward at 7s 6d and a seller 3d away. Okaritos also found a place in the sales list at 7id, the market closing Jd on either side of that figure. Bank of New Zealands remained steady, three parcels changing hands at £2 2s 6d and the market closing at £2 2s 3d (buyer) and £2 2s 6d (seller). The industrial sections were a little quieter than at the beginning of the week, though for the most part values were fairly steady. The bid for Crystal Ice shares was raised to £2 Is, with no seller in the market, and G. J. Coles were stronger, with a buyer at £3 7s 6d. McKenzies continued in demand at £2 4s 6d, sellers being 3s away. New Zealand Breweries were a little slacker, with a seller at £1 14s. YESTERDAY’S SALES DUNEDIN Sales Reported -C* c rl

AUCKLAND Sales on 'Change.—Bank of New Zealand (late sale), £2 2s 6d; Auckland Gas, 8s 4d; Dominion Breweries (2), £1 10s 3d; New Zealand Breweries, £1 13s 6d; British Tobacco, £2 10s 3d; Broken Hill Proprietary (late sale), £2 6s 9d; Woolworths (N.Z.), 16s 4d; Clutha (late sale). 2s. * WELLINGTON Sales on 'Change.—3i per cent. Stock 1957 (late Tuesday), £lOl 2s 6d; 4 per cent. Stock, 1958, £IOB 7s 6d; 4 per cent. Stock, 1958 (2). £IOB ss; 4 per cent. Stock, 1955, £lO7 15s; 4 per cent. Stock, 1952, £lO6 15s; 4 per cent. Stock, 1949, £lO5 15s; Auckland Gas, 8s 4d; Australian Consolidated Industries, £1 18s 6d; G. J. Coles, £3 9s; Farmers’ Fertiliser, £1 Is 3d; New Zealand Drug (rights), £1 7s 4d. CHRISTCHURCH Sales on 'Change. New Zealand Breweries (4), £1 3s 6d; Broken Hill Proprietary, £2 6s 9d, £2 6s lid; Mount Morgan, 8s 6d. Sales Reported.—Auckland Gas 5 per cent, perpetual, £102; Bank of New Zealand. £2 2s 6d; Huddart. Parker, £2 12s; Australian Consolidated Industries. £1 18s sd; New Zealand Drug Company (rights, 2). £1 7s 3d; Woolworths (Syd., ord., late Tuesday), 18s 2Jd; Woolworths (N.Z.), 16s 3d. Unlisted Stock.—Australian Motorists’ Petrol (2), ils; Urlwlns (ord.), £2 2s 6d. AMALGAMATED WIRELESS FINAL DIVIDEND DECLARED (Per United Press Association) WELLINGTON, Oct. 2. Amalgamated Wireless has advised the Stock Exchange Association that it has declared a final dividend of 5 per cent., payable on October 24. AUSTRALIAN STOCK EXCHANGES (United Press Association) (By Electric Telegraph-Copyright) SYDNEY. Oct. 2. (Received Oct. 2, at 11.30 p.m.) Leading industrial shares improved on the Stock Exchange to-day. The Morning Sales.—Commonwealth Bonds, 4 p.c.. 1941, £lO2 10s; 4 p.c.. 1961. £lO7 Is 3d; Tooths, £2 11s; British Tobacco, £2 9s 6d; Cash Orders, 15s; Dunlop Pcrdrlau, 18s 4jd. Additional Sales.—Commercial Banking of Sydney £l9 10s, National Bank (£lO paidi £li 17s 6d. Burns. Philp £2 14s 3d, Toohevs £1 8s 4d, Consolidated Industries £1 15s 6d. Farmers £1 7s, Goldsbrough, Mort £1 9s 6d, Electrolytic Zinc £2 11s 6d. Broken Hill Proprietary £2 4s 3d, Mount Morgan 8s sd, Mount Lyell £1 95 6d ' MELBOURNE. Oct. 2. Consolidated Industries £ 1 5s 3d. Dunlop. Perdriau 18s sd. Howard Smith £1 0s 6d. Emperor 10s 6d. Loloma £1 2s 3d.

COLOMBO TEA SALE Mr L. M. Wright has received the following cabled report on the Colombo tea auction of October 1:—All grades weie in very keen demand at yesterday s auction of 1,000,0001 b. Supplies were short, and prices advanced considerably, and common teas were about Id dearer medium and fine grades being up to Id to lid pci At next week’s auction 1,000,0001 b will be offered to buyers. Fraser and Co., selling agents for Otago and Oamaru Egg Circles, report as under:— Eggs: Market rates. Dairy butter; Pats, lid to Is; bulk Is Id Potatoes, £2 10s to £3 10s per ton. Chaff, £7 to £7 15s per ton, sacks extra. Canterbury onions, 15s per bag. Whole fowl wheat, to Bs 6d per bushel Clover hay, £7 10s per ton. Honey, 7d to ad pel - lb: 21b pottles. Is 6d; 51b tins, 3s 9d; 101 b tins, Bs. , J , _ Poultry; White Leghorn hens, as to 6s. heavy breeds, 5s Cd to 6s 6d; cockerels—light" 3s to 4s, heavy 7s to 8s; roosters, Is to Is 6d; ducks, 3s 6ri to Bs Cd; ducklings, 5s to 7s; all per pair. Turkeys: Gobblers. 8d per lb, live weight; hens, 7c Wf stock Palmer’s chick food, C.F.M. meatmcal. leg rings. Is per dozen (special quotes for quantities). We are Otago agents for Champion egg crates, Sol-vit-ax cod liver oil for poultry; prices on application. Consignors, please note that all poultry must arrive not later than Wednesday morning of each week. We have a stock of poultry crates on hand for use for our clients.

LATEST QUOTATIONS

WOOLLENS IN GOOD DEMAND 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

* UNLISTED STOCKS All stocks In this section are not quoted on the official list, and transactions are subject to a different rate of brokerage:—

DIVIDENDS AND CALLS The following is a list of shares on which dividends will shortly be payable:— •Hume Pipe. ord„ 6 p.c„ pref. 7J p.c Oct. 7 •Woolworths, 7 p.c Oct. 15 South British Ins., 17i p.c, .. Oct. 24 N.Z. Guarantee Corp„ 5 5-9 p.c. Oct. u 0 Martha Mine, 6d Nov. 1 * Quoted ex dividend on Stock Exchange. STRONG WOOL MARKET UNITED STATES' DEMANDS A message to the Sydney Morning Herald from Boston, America, reports that, an unusually strong wool market continues, with a heavy demand for civilian goods coupled with Government orders. Several million pounds were sold in a recent week one house alone disposing of 1,000,0001 b. It is estimated that only 40,000.0001 b remains in the Western United States, necessitating a call on foreign supplies. Higher grades are mostly needed, although medium and lower grades are selling briskly.

MINING NEWS WHITE’S ELECTRIC DREDGING COMPANY The return during the week ended September 27 was 57 ounces of gold from 9540 yards, 150 hours’ dredging time. BULOLO GOLD DREDGING, LTD. For the month of August the total gross production amounted to 22,304 ounces of bullion containing 15,389 ounces of fine gold from 1,613,000 cubic yards. The estimated working profit was 7254 ounces of fine gold. PATENT. AGENTS J. PARK & SON, Res. Patent Attorneys, A.M.P. BUILDINGS, Princes street. Dunedin (Phone 11-355), And THAMES STREET. OAMARU (Henry Hay. Agent).

£ S. d. Bank of New Zealand (3) 2 2 6 Kalapoi (cont.) 0 5 3 Clulha River 0 2 0 Martha 0 7 6 0 7 7 Okarito 0 0 n Sale on ’Change Big River .. 0 0 6

Buyer. Seller. £ s. d. £ S. a. 34 p.c. Bonds, 1953-57 100 10 0 — 3j p.c. Stock. 1953-57 100 10 0 — 4 p.c. Stock, 1940-43 .. 100 0 0 — 4 p.c. Bonds, 1943-46 .. 102 10 0 — 4 p.c. Stock, 1943-46 .. 102 10 0 — 4 p.c. Bonds, 1946-49 .. 105 0 0 — 4 p.c. Stock, 1946-49 .. 105 0 0 -T4 p c. Stock, 1949-52 .. 106 10 0 — 4 p.c. Bonds. 1952-55 .. 106 17 6 — 4 p.c. Stock, 1952-55 .. 106 17 6 108 5 0 4 p.c. Bonds, 1954-58 .. 107 10 0 — 4 p.c. Stock, 1954-58 .. 107 10 0 — MINING Austral N.Z. Mining (£1) 1 4 9 — Big River (Is) .. .. 0 0 6 0 0 7 Clutha River (2s) 0 1 9 — Gillespie's Beach (Is) 0 0 5 0 0 6 Martha 0 7 6 0 7 9 Nokomai (5s) .. .. 0 1 0 — Okarito (5s) .. .. 0 0 7 0 0 8 Sandhills (Is) .. .. — 0 0 1 Waitahu (5s) .. .. 0 0 7 0 0 8 BANKING N.Z. (£1) 2 2 3 2 2 6 N.Z. (Long D £1) .. 1 8 0 1 9 0 E.S. and A. (£3) .. — 4 15 0 Natl, of N.Z. (£2 10s) — 2 1 6 Union (£5) .. •• 7 0 0 INSURANCE National (7s) .. .. 0 18 6 0 19 0 New Zealand (£1) .. 3 0 0 — South British (10s) .. 2 10 0 — Standard (£1) .. 2 id 0 - SHIPPING P. and O. Def. Stock (£1) — 1 « 0 U.S.S. Co. (pref.; £1) 1 6 0 MEAT PRESERVING N.Z. Refrig. (paid; £1) ■■ — 1 0 9 N.Z Refrig, (cont.; 10s) 0 9 5 0 9 7 South Otago Freezing (£5) 5 2 0 — LOAN AND AGENCY Natl. Mortgage (£2).. — 2 0 0 Natl. Mortgage (B issue; £1) .. .. 1 0 0 — Perpetual Trustees (18s) 2 10 0 2 12 0 Trustees, Executors (£3) 4 2 0 — Wright. Stephenson (ord.; £1) .. .. — 1 0 3 COAL AND OIL Kaitangata (16s) — 1 11 6 Westport (10s) .. .. 1 2 6 — Westport - Stockton (pref.; 10s) .. .. 0 5 0 — Taranaki Oil (£1 4s 7d) — 0 6 6 Taranaki Oil Develop. 0 4 0 WOOLLEN COMPANIES Bond’s Hosiery (£1) 1 7 0 — Bruce (oal.; £1) 0 18 4 — Bruce (pref.; £1) 1 0 0 — Kaiapoi (ord.; 17s) .. — 0 14 9 Kalapol (cont.; 7s) .. 0 5 0 — Kaiapoi (pref.; 17s) .. 0 16 3 — Mosgiel (£4) .. .. 10 0 0 — Timaru (£1) •• •• 0 12 0 MISCELLANEOUS Aust. Iron and Steel (pref.: £1) .. .. 1 6 0 1 6 9 Broken Hill Pty. (£1) 2 6 6 2 7 3 Chas. Begg and Co. .. 1 1 0 — Crystal Ice (£1) 2 1 0 — D.I.C. (pref.; £1) 1 3 6 — Dominion Fertiliser (£1) 1 7 0 — Stock Exchange Pty. (£1) — X 13 0 G. J. Coles (£1) 3 7 6 — Milburn Lime (£1).. 2 0 3 — McKenzies Dept. Strs. (£1) 2 4 6 2 7 6 McLeod Bros. (£10) 26 0 0 28 0 0 Natl. Electric (£1) .. 0 17 0 0 18 0 N.Z. Drug Co. (£2) — 3 14 9 N.Z. Drug (rights) .. 1 7 0 — Otago Daily Times (£1) — 2 0 3 Regent Theatre (£1).. — i 0 6 Woolworths (Syd.; ord.: 5s) — 0 18 7 BREWERIES Ballin’s (£1) .. .. — 0 12 0 N.Z. Breweries (£1) — 1 14 0 Dunedin (£1) •• — 1 3 Tooth’s (£1) — 2 15 0 Carlton (£1) .■ •• 3 4 0 AUSTRALIAN MINING Broken Hill South (5s) 1 5 6 — Emperor (10s) 0 10 6 — Mount Lyell (£1) 1 8 6 i ii 0 Mount Morgan (2s 6d) 0 8 0 — North Broken Hill (5s) 1 16 0 — Wellington Alluvlals (2s) — 0 4 6

Buyer. Seller. £ s. d. £ s. d. Mackintosh - Caley - 0 8 0 Phoenix — Dunedin Ice Cream .. 1 4 0 Booth Macdonald 0 4 9 OSS (pref.)