INDUSTRIALS IN DEMAND

Southland Times, Issue 24229, 12 September 1940, Page 3

INDUSTRIALS IN DEMAND

INVERCARGILL STOCK EXCHANGE

OVERSEAS MINING LIMITED Government securities received strong support on the Invercargill Stock Exchange yesterday, buyers for the longest dated loans being at £lO6/10/-. There was less' inquiry for banks, but the market is steady. Industrials, both Commonwealth and Dominion, were in good demand, The inquiry for overseas mining stocks was a very limited one.

A sale of deposit preference shares of the Southland Farmers’ Co-operative Association Ltd. at £5/5/- was reported. Quotations were as follows: — Government Debentures.—4 p.c. Stock 1943-46,' b £lO2/5/-; 4 p.c. Bonds, 1943-46. b £lO2/5/-; 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 £105; 4 p.c. Stock 1952-55, b £lO6/5/-; 4 p.c. Bonds 1952-55. b £lO6/5/-; 3>/ 3 p.c. Stock 1953-57, b £100; 4 p.c. Stock 1954-58, b £lO6/10/-. Banks.—National of New Zealand, b £1 19/-; New South Wales, b £26; New Zealand, b £2/1/-, s £2/2/6; New Zealand Long "D” issue, b £l/7/-; Union of Australia, b £6/15/-. Breweries.—Dominion Brewery, s £l/13/-; Dunedin Brewery Company, s £l/5/-; New Zealand Breweries, b £l/15/-; Tooth’s 'Brewery, s £2/16/-. Coal.—Kaitangata, s £l/11/6; Westport Coal, b £l/2/-; Westport Stockton, s 2/4. Insurance.—National, 18/6; Standard, b £2/17/6. Loan and Agency.—Goldsbrough, Mort and Company, b £l/4/-;' National Mortgage, s £2; Southland Farmers’ Co-operative, b £5; Trustees’ Executors (Dunedin), b £4 4/-; Wright, Stephenson (ord.), s £l/0/3; (pref.), b 19/6; Perpetual Trustees, b £2 10/-. ’ Meat Companies.—New Zealand Refrigerating (20/- paid), b £1; (10/- paid), b 9/1, s 9/6; Southland Frozen Meat, b £l/15/-; South Otago Freezing Company, b £5/3/-. Shipping—Howard Smith, s £l/3/6; Union Steani Ship Company (pref.), b £1 6/-; P. and O.' Stock, s £l/4/-.-Woollen Mills—Bruce, b 18/-; Kaiapoi (ord.), b 15/-;. Mosgiel, b £lO/5/-; Bonds Hosiery, b £l/7/-. Miscellaneous.—Australian Consolidated Industries, £l/14/-;' Australian Iron and Steel, b £l/6/-; Broken Hill Proprietary, .» £2/5/-; British Tobacco (Aust.), b £2/5/-; G. J. Coles, b £3/5/-; D.I.C. (pref.), b £1 3/3; Donaghy’s Rope and Twine, b £2 13/6; McDuffs Ltd., b 8/3; McKenzie’s Department Stores Ltd., b £2/5/-; McLeod Bros’ Soap, b £26; Milburn Lime and Cement, b £2; New Zealand Drug (rights), b £l/5/-; 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 19/-; Woolworths Ltd., b 18/3.

Mining.—Broken Hill South, b £l/6/-; North Broken Hill, b £l/16/-; Big River, s 9d; Gillespie’s Beach, s 6d; Mount Lyell, s £l/8/-; Mount Morgans, s 8/2; Nokomai, s 1/-; Okarito, b 7d; Austral (N.Z.), b £1 3/-: Grey River, b 16/-.

DUNEDIN Sales—4 p.c. Stock 1949-52 £lO5/17/6, £106; Broken Hill Proprietary £2/5/6; Felt and Textiles (second pref.) £l/4/-; Woolworths (Sydney) 18/-; Mount Morgan 8/-. CHRISTCHURCH Sales on ’Change.—Ballins Breweries (15/paid) 10/9; Broken Hill Proprietary £2/6/-; New Zealand Drug Company (rights) £1 5/3. Sales Reported.—Auckland Gas 5 p.c. (perpetual) £102; Australian Consolidated Industries (2) £l/16/6; Australian Iron and Steel (pref.) £l/6/-; Wilson’s Cement 19/5; Mount Morgan 8/1 (2); Grey River 16/6; Nemona 3d. WELLINGTON Sales (late Tuesday)—Commercial Bank of Australia 15/-; New Zealand Drug (rights) £l/5/3, £l/5/6; Wooiworths Ltd. (Ord.) 18/3. Sales (yesterday).—4 p.c. Stock 1952 £lO5 17/6; Bank of New Zealand £2/2/6; Broken Hill Proprietary £2/5/6. AUCKLAND Sales.—Mangonui City 1965 4’,4 p.c. £lO6 10/-; Commercial Bank of Australia 14/10; National Bank of Australasia (paid) £ll 15/-; Farmers’ Auctioneering (A pref.) £1 2/-; do. (B pref.) £l/1/6: Goldsbrough. Mort £l/5/- (odd lot); Auckland Gas 8/3;’ New Zealand Breweries £l/15/2; A.C.I. (2) £l/16/6; Australian Steel (pref.) £l/6/-; Bycroft £2/2/- (2); Farmers’ Trading £1 0/3, £1; New Zealand Newspapers £l/9/9; Peter’s Ice 15/-; Wilson’s Cement (late sale) 19/6, 19/5; Woolworths (N.Z.) 16/9; Woolworths (Sydney). 18/3, 18/2, 18/-; Broken Hill South £l/6/3; Mount Morgan (late sale) 8/-. SYDNEY (Received September 11, 9.30 p.m.) SYDNEY, September 11. The investment market today was steady, with a moderate turnover. Sales—Bank of New South Wales £25 5/-; Union Bank £5/13/-; Burns Philp £2 10/-; Wool worths 17/1; Cash Orders 15/3; Morris Hedstrom £l/4/6; Gordon and Gotch £l/17/-; Henry Jones £2/12/-; Milliquin Sugar £2/3/6; Wilcox Mofflin 6/3; Electrolytic Zinc £2/9/6 (pref.), £2/11/-; Placet Development £3; Larut 6/10. MELBOURNE Sales.—Metropolitan Gas £l3/12/-; Commercial Bank of Australia 13/3; Carlton Brewery £3/3/-; Coles £3/0/9; Dunlop Perdriau 18/8; Broken Hill Proprietary £2 2/9. COMPANY ■ NEWS HUME PIPE’S PROFIT . \ (United Press Association) . WELLINGTON, September 11. The ’ Stock : Exchange Association has received cabled advice from the Hume Pipe Company (Australia) Ltd., that the net profit was £37,229. The directors recommend a final dividend of 3? per cent., on preference shares and 3 per. cent;,.; on ordinary shares, making the dividend for the year 7J per cent., and six per cent, respectively. MILBURN LIME AND CEMENT COMPANY (Special to The Times) ■ DUNEDIN, September 11. The annual report of the Milburn Lime and Cement Company, Ltd., to be presented at the annual meeting on September 17, states that the profit .and loss' account, after writing off depreciation and making provision for income tax for the current year, shows a credit balance of £19,058/10/4, including the sum of £7997/15/- carried forward from last .year. An. interim dividend of 3| per cent? was paid . on March 18, amounting to £7500, leaving a balance of £11,558/10/4'to he dealt with.

The directors' recommend a dividend of 5 per cent., absorbing £lO,OOO.

AUSTRAL N.Z. MINING ’ LTD. ■

Advice has been received by Reid and Jones that; the result of the dredging operations on the Chitha river by the Austral New Zealand dredge was: Days worked,;. 27;; hours worked 609; yards dug, 264,000; bullion recovered, 632 ounces. > - • ■'-■■