LIMITED INQUIRY FOR BANKS

Southland Times, Issue 24231, 14 September 1940, Page 3

LIMITED INQUIRY FOR BANKS

INVERCARGILL STOCK EXCHANGE OVERSEAS MINING SHARES QUIET There was no easing in the inquiry for Government securities on the Invercargill Stock Exchange yesterday. The demand for banks wap a limited one, but the market remains fairly steady. Some, industrial lines made further gains. The market for overseas mining stocks is far from active. A sale of Milburns at £2/1/3 was reported. Quotations were as follows:— Government Debentures.—4 p.c. Stock 1940-43, b £103; 4 p.c. Stock 1943-46, b £104; 4 p.c. Bonds 1943-46, b £104; 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 £106; 4 p.c. Stock 1952-55, b £lO6/5/-; 4 p.c. Bonds 1952-55, b £lO6/5/-; 3>,4 p.c. Stock 1953-57, b £100; 4 p.c. Stock 1954-58, b £lO6/15/-. Local Body Debentures.—lnvercargill City, b £lO3/10/-. Banks.—Commercial, s 15/-; National of New Zealand, b £l/19/-; New Zealand ,b £2/2/-; New Zealand Long “D” issue, b £l/7/.; Union of Australia, b £6/15/-.

Breweries.—Dunedin Brewery Company, s £l/5/-; New Zealand Breweries, s £l/15/6; Tooth's Brewery, s £2/16/-; Ballins (£1 paid), 10/6. ' Coal.—Kaitangata, b £l/8/6, s £l/11/6; Westport Coal, b £l/2/-, s £l/2/9; Westport Stockton (ord.), s 2/6. Insurance.—National, b 18/4; New Zealand, b £3; Standard, b £2/17/6. Loan and Agency.—National Mortgage, s £2; Trustees’ Executors (Dunedin), b £4 4/-; Wright, Stephenson (ord.), s £l/0/3; (pref.), b 19/9; Perpetual Trustees, b £2 10/-.

Meat Companies.—New Zealand Refrigerating (20/- paid), b £1; (10/- paid), b 9/-; Southland Frozen Meat, b £l/15/6, s £1 16/-; South Otago Freezing Company, b £5/3/-.

Shipping.—Howard Smith, s £l/3/-; Union Steam Ship Company (pref.), b £1 6/-; P. and O. Stock, s £l/4/-. Woollen Mills.—Bruce, b 18/-; Kaiapoi (pref.), b 17/-; Mosgiel, b £lO/5/-. Miscellaneous.—Australian Consolidated Industries, b £l/14/-; Australian Iron and Steel, b £l/6/-; Broken Hill Proprietary, b £2/4/6, s £2/6/-; British Tobacco (Aust.), b £2/2/-, s £2/7/-; G. J. Coles, b £3/5/6; D.I.C. (pref.), b £l/3/3; Dominion Fertilizer, b £l/7/-; Donaghy’s Rope and Twine, b £2 14/6; McDuffs Ltd., b 9/-; McKenzie’s Department Stores Ltd., b £2/2/-; McLeod Bros’ Soap, b £26; Milburn Lime and Cement, b £2/0/6; New Zealand Drug (rights), b £l/5/-; N.Z. Farmers’ Fertilizers, (pref.), b £l/1/9; N.Z. Guarantee Corporation, b 3/4, s 3/11; New Zealand Paper Mills, b £l/9/6, s £l/10/9; Wilson’s (N.Z.) Cement, b 18/9, s 19/11; Woolworths Ltd., b 17/10, s 18/6; Southland Ice Cream, b £l/2/6.

Mining.—Broken Hill South, b £l/5/6; North Broken Hill, b £l/16/-; Big River, s 9d; Gillespie’s Beach, b sd; Martha Gold Mining, s 7/11; Mount Morgans, b 7/10, s 8/2; Nokomai, s 1/3; Okarito, b 7d; Austral (N.Z.), b £l/3/-; Grey River, s 17/-.

CHRISTCHURCH Sale on ’Change.—South British Insurance £2/10/-. Sales Reported.—Broken Hill Proprietary £2/5/9, £2/5/6; Burns Philp £2/12/-; 1.C.1. (Australia and New Zealand pref. ,late sale Thursday) £l/4/9; New Zealand Breweries £l/15/-. WELLINGTON Sales (yesterday).—Bank of New Zealand £2/2/3; New Zealand Drug (rights) £1 5/8; New Zealand Drug (rights) £l/5/11; New Zealand Drug (rights) £l/6/3; McKenzie’s £2/3/-. AUCKLAND Sales.—Amalgamated Brick (Auckland) 1944 6 p.c. £101; Commercial Bank of Australia 14/10; Bank of New Zealand £2/2/6, £2/2/-; New Zealand Insurance (2) £3 1/6; South British £2/10/-; Auckland Gas (cont.) 3/2; Colonial Sugar £5O, do. £55; Consolidated Brick (late sale) 7/7; G. J. Coles £3/5/6; 1.C.1. (pref.) £l/4/-; Wilson’s Cement 19/6; Woolworths Properties £l/5/-; Martha 7/6; Mount Morgan (ord) (2) 8/-. GOLD-MINING JONES-NEVIS SLUICING COMPANY

The annual meeting of shareholders in the Jones-Nevis Sluicing Company was held at Dunedin, the chairman of directors (Mr J. Black) occupying the chair. There was a small attendance of shareholders. The annual report and balance-sheet were adopted without discussion. It was agreed to forward a letter of congratulation to Mr Frank Jones on the success with which he had worked the claim during the past year. The retiring directors, Messrs J. Black and W. H. Whittaker, were reelected, and Mr J. H. A. McKeefry was re-plected auditor.

MORERE SHAFT NOW AT 4384 FEET

DRILLING FOR PETROLEUM IN N.Z. , . (United Press Association) GISBORNE, September 13. The New Zealand Petroleum Company reports that the Morere well has been carried to 4384 feet in hard, sticky shale. The Midhurst well is now 1983 feet deep in hard sandstone. COLOMBO TEA AUCTION J. Rattray and Son Ltd. report as follows on the tea auction held at Colombo this week:— Heavy supplies were offered following last week’s tea trade holiday. There was a strong demand for common and medium grade with prices showing an advance of Id to l|d per lb. Fine grades were irregular with occasional slight advances. / MINING RETURNS

MOSSY CREEK (United Press Association) WELLINGTON, September 13. The Mossy Creek gold return was 85 ounces 17 dwts for 13,977 yards and 133 hours. SHARE QUOTATIONS IN LONDON (British Official Wireless) (Received September 13, 6.30 p.m.) RUGBY, September 12. London share quotations:— d. Clutha— Buyers 7 Sellers 9 Molyneux— Buyers 1 Sellers 2