STEADY MARKET FOR BANKS

Southland Times, Issue 24227, 10 September 1940, Page 4

STEADY MARKET FOR BANKS

INVERCARGILL STOCK EXCHANGE MORE INTEREST SHOWN IN OVERSEAS MINING . Strong support continued to come for Government loans on the Invercargill Stock Exchange yesterday. A steady market exists for banks, and Commercials were quoted for the first time for weeks, buyers being atl4/-. There were inquiries for a number of Industrial lines and prices are steady to firm. More interest was shown in overseas mining stocks. . Sales of New Zealand Breweries (2) at £l/15/4 and Southland Frozen Meats at £l/15/- were reported. Quotations -frere as follows: — . Government Debentures.—4 1941-43, b £lO2/15/-; 4 p.c. Stock 1943-46 b £lO2/15/-; 4 p.c. Bonds 1943-46, b £lO2 15/-- 4 p.c. Stock, 1946-49, b £lO4/15/-; 4 p.c. Bonds, 1946-49, b £lO4/15/-: 4 p.c. Stock 1949-52, b £lO5/5/-; 4 p.c. Stock 1952-55, b £lO6/5/-; 4 p.c. Bonds 1952-55, b £lO6/5/-; 3>/ 2 p.c. Stock 1953-57, b £100; 4 p.c. Stock 1954-58, b £lO6/10/-. Banks.—Commercial, b 14/-; National of New Zealand, b £l/19/-;. New South Wales, b'£2s/10/-; New Zealand, b £2/2/-, s £2 2/6; New Zealand Long “D” issue, b £1 7/-, s £l/9/6. . Breweries. —Dominion Brewery, s £1 13/- New Zealand Breweries, b £l/15/-, s £l/15/9; Tooth's Brewery, s £2/16/6. Coal.—Westport Coal, b £l/2/-, s £l/2/9; Westport Stockton (ord.), s 2/4. Insurance. —National, b 18/3; Standard, b £2/17/6. Loan and Agency.—Goldsbrough, Mort and Co., b £l/4/-? National Mortgage, s £2; Trustees’ Executors (Dunedin), b £4 4/-; Wright, Stephenson (ord.), s £l/0/3; (pref.), b 19/6; Perpetual Trustees, b £2 Meat Companies.—New Zealand Refrigerating (20/- paid), b £l/0/1; (10/- paid), b 9/3; Southland Frozen Meat, b £l/15/-; South Otago Freezing Company, b £5/3/-. Shipping—Union Steam Ship Co. (pref.), b £l/6/-; P. and O. Stock, s £l/4/-. Woollen Mills.—Bruce, b 18/-; Kaiapoi (ord.), b 15/-; Mosgiel, b £lO/5/-; Wellington Woollens (pref.), b £6/15/-. Miscellaneous.—Australian Consolidated Industries, b £l/14/-; Australian Iron and Steel, b £l/6/-: Broken Hill Proprietary, b £2/4/-; British Tobacco (Aust.), b £2 4/6; G. J. Coles, b £3/5/-: D.I.C. (pref.), b £l/3/3; Dominion Fertilizer, b £l/7/-; Dominion Rubber Company, s £l/1/-: Donaghy’s Rope and Twine, b £2/14/6; MeDuffs Ltd., b 7/9; McKenzie’s Department Stores Ltd., b £2; McLeod Bros’ Soap, b £26; Milburn Lime and Cement, b £2/1/-; New Zealand Drug (rights), b £l/5/3; N.Z. Farmers’ Fertilizers (pref.), b £l/1/9; N.Z. Guarantee Corporation, b 3/4, s 4/*; New Zealand Paper Mills, b £l/9/6; Wilson’s (N.Z.) Cement, b 18/9, s £1; Woolworths Ltd., b 18/6. Mining.—Broken Hill : ->uth. b £l/5/6; North Broken Hill, b £l/16/-; Electrolytic Zinc (ord.), b £2/10/-; (pref.), b £2/12/-; Gillespie’s Beach, s 6d; Mount Lyell, s £1 7/9; Mount Morgans, b 8/2; Nokomai, s 1/3; Okarito, b 7d; Austral (N.Z.), b £l/2/6.

DUNEDIN Sale Reported.—New Zealand Drugs (rights) £l/5/3. CHRISTCHURCH Sales on ’Change.—Felt and Textiles £2 3/-; Christchurch Gas £l/4/9; New Zealand Drug Company (rights) £l/5/-. Sales Reported.—Australian Iron and Steel (pref.) £l/6/-; Broken Hill Proprietary £2 6/-; Union Investment 12/6. WELLINGTON Sales (late Friday).—4 p.c. Stock 1952 £lO5/17/6 (2); National Bank of New Zealand £l/19/6; National Electric 17/6; Broken Hill Proprietary £2/6/-; Grey River 16/11. Sales (yesterday).—South British Insurance £2/10/-; Wilson’s Cement 19/6; Woolworths Ltd. 18/6. AUCKLAND Sales on ’Change.—Stock 1940-43 4 p.c. £lO3/2/6; Otago Harbour Board 1948-54 4<,4 p.c. £105; Bank of New Zealand £2/2/6 (2) New Zealand Insurance £3/1/6: South British £2/10/- (2); Auckland Gas 8/3; do. (cont.), odd lot 3/-; Oamaru Wool £l/0/3; Australian Steel (pref.) £l/6/-; Broken Hili Proprietary £2/6/- (3); Colonial Sugar £5O; Farmers’ Trading £1 (late sale), £1 (3) N.Z. Paper Mills £l/9/6; Wilson’s Cement 19/4, 19/5; Woolworths (N.Z.) 16/6; do. (Sydney) 18/6 (2); Broken Hill South £l/6/3; Mount Lyell £l/7/6; Mount Morgan (ord.)’B/-. SYDNEY (Received September 9, 9.15 p.m.) SYDNEY, September 9. Trading on the Stock Exchange today was quiet. Prices in several cases eased slightly. Sales. —Colonial Sugar £46/12/6; Peters £l/0/6; Oil Search 4/-; Broken Hill Proprietary £2/3/-; Bank of New South Wales £26; Woolworths 17/7'/ 2 ; General Industries 17/-; Electrolytic Zinc £2/10/3: Tooths £2 9/3; Felt Textiles £l/19/10’ z i; Australian Securities 5/7; Howard Smith £l/1/3. MELBOURNE Sales.—New Broken Hill 14/2; Mount Lyell £l/7/9. PAINING GILLESPIE’S BEACH (United Press Association) DUNEDIN, September 9. The Gillespie’s Beach Gold Dredging Company’s wash-up for the week ended September 7 was 51 ounces 19 dwts for 132 hours and 16,770 yards. CLUTHA RIVER (United Press Association) DUNEDIN, September 9. The Clutha River dredge at Alexandra, for the week ended September 6, recovered 4" ounces for 131 hours. DIVIDENDS ANNOUNCED (United Press Association) WELLINGTON, September 9. General Industries has announced interim dividends for the half-year ended August 31 as follows: Preference, 3| per cent.; ordinary, 5 per cent., payable on September 30. Woolworths (Victoria) are paying 3J per cent, on preference shares on October 15.