COMMERCIAL

Southland Times, Issue 24234, 18 September 1940, Page 2

COMMERCIAL

MINING MARKET QUIET < INVERCARGILL STOCK EXCHANGE

LITTLE INTEREST IN BANKING SHARES

Strong support came for State loans on the Invercargill Stock Exchange yesterday. Very little interest was taken in banking shares. Meat freezing companies’ shares were steady to firm and a sound market existed for insurances. No change was noticeable in the market for industrials. The mining market was quiet. Quotations were as follows:— Government Debentures.—4 p.c. Stock 1943-46, b £lO2/10/-; 4 Bonds 1943-46, b £lO2/10/-; 4 p.c. Stock 1946-49, b £lO5 10/-; 4 p.c. Bonds 1946-49, b £lO5/10/-; 4 p.c. Stock 1949-52, b £106; 4 p.c. Stock 1952-55, b £lO6/15/-; 4 p.c. Bonds 1952-55, b £lO6/15/-; 3*,z p.c. Stock 1953-57, b £100; 4 p.c. Stock 1954-58, b £107; 4 p.c. Stock 1948, b £lO4/10/-. Banks.—Commercial, b 14/-; National of New Zealand, b £l/19/-; New Zealand, s £2/2/9; New Zealand Long ”D’’ issue, b £l/7/-. Breweries.—Dominion Brewery, s £l/3/-; Dunedin Brewery Company, s £l/5/-; New Zealand Breweries, b £l/14/6, s £l/15/6; Tooths Brewery, s £2/16/-. Coal—Kaitangata, s £l/11/6; Westport Coal, b £l/2/4, s £l/2/9; Westport Stockton (ord.), s 2/9. Insurance.—National, b 18/-; New Zealand, b £3; South British, b £2/9/-; 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 9/3, s 9/9; Southland Frozen Meat, b £l/15/3; South Otago Freezing Company, b £5/3/6. Shipping.—Howard Smith, s £l/2/6; Union Steam Ship Co. (pref.), b £l/6/-; P. and O. Stock, s £l/4/-. Woollen Mills.—Bruce, b 18/-; Kaiapoi (pref.), b 17/-; Mosgiel, b £lO/7/6; Bonds Hosiery, b £l/7/-. Miscellaneous.—Australian Consolidated Industries, b £l/15/-; Australian Iron and Steel, b £l/6/-; Broken Hill Proprietary, b £2/4/6, s £2/6/-; British Tobacco (Aust.), b £2/4/9, s £2/7/6; G. J. Coles, b £3/4/9; 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 9/3; McKenzie’s Department Stores Ltd., b £2/2/3; McLeod Bros’ Soap, b £26; Milburn Lime and Cement, s £2/1/6; New Zealand Drug, b £3 14/-; N.Z. Farmers’ Fertilizers (pref.), b £l/1/9; N.Z. Guarantee Corporation, b 3/3, s 4/-; New Zealand Paper Mills, b £l/9/3, s £l/10/-; Wilson’s (N.Z.) Cement, s 19/6; Southland Ice Cream, b £l/2/6.

Mining.—North Broken Hill, b £l/15/-; Big River, b 6d. s 9d; Electrolytic Zinc (ord.), s. £2/10/6; Gillespie's Beach, b sd, s 7d; Martha Gold Mining, b 7/3, s 7/9; Mount Lyell, s £l/9/-; Mount Morgans, b 7/6, s 8/1; Nokomai, s 1/3; Okarito, b 8d; Grey River, b 16/-; Austral (N.Z.), b £l/3/6.

DUNEDIN Sales Reported.—Bank of New Zealand £2 2/6; Union Bank £7; Woolworths (Sydney) 18/-; Electrolytic Zinc (ord.) £2/11/6. CHRISTCHURCH Sales on ’Change.—4 p.c. Stock 1954-58 £lO7/15/-; Bank of New Zealand (2) £2 2/3; McLeod Brothers £27. Sales Reported.—4 p.c. Stock 1943-46 £103; Union Bank of Australia £7/2/6; British Tobacco (2) £2/8/-; Electrolytic Zinc (ord.) £2/11/6; Woolworths, Sydney (ord.) (cum div.) (4) 18/3 WELLINGTON S Sales—Bank of New" Zealand (2) £2/2/6; Beath and Company 15/6. Sales (yesterday).—Commercial Bank of Australia 14/10; do. 14/7; Bank of New Zealand £2/2/6; National Insurance 18/9; Oamaru Woollen £l/0/3; Farmers’ Trading £l/0/3; McDuffs (ord.) 9/9; New Zealand Drug (2) £3/14/-: New Zealand Drug (rights) £l/6/6; New Zealand Drug (rights) £l/6/3; Woolworths (New Zealand) 16/8; Union Bank £7; National Insurance 18/9; Selfridges (New Zealand) 4/-. AUCKLAND Sales Stock 1940-43 4 p.c. £lOl/2/6 (2); do. 1943-46 (late sale) £103; Auckland Gas (pref, stock) (odd lot, late sale) £lOl/15/-; Commercial Bank of Australia 14/10; Bank of New Zealand £2/2/6; Stock British (late sale) £2/10/-; Standard Insurance £2/18/-; Newton King (pref.) 11/-; Auckland Gas (late sale) 8/2; do. 8/3; New Zealand Breweries (late sale) £l/15/-; Dominion Breweries £l/11/6; British Tobacco £2/8/-; Broken Hill Proprietary (late sale) £2/5/9; Farmers’ Trading (2) £l/0/3; New Zealand Drug £3/14/-; do. (rights) £l/6/3, £l/6/7>/ 2 ; Woolworths (Sydney; late sale) 18/-; Mount Lyell £l/7/6; Mount Morgan (odd lot) 8/1. SYDNEY .(Received September 17. 10.50 p.m.) SYDNEY, September 17.

Stock Exchange morning sales were:— Commercial Bank of Sydney £l9/1/-; Bank of New South Wales £26; Anthony Hordern 13/4; Australian Consolidated Industries £l/15/6; (cont.) 17/-; British Tobacco £2/8/9; Broken Hill Proprietary £2/4/3.

RICH MINING RETURN CLUTHA RIVER COMPANY The final return for last week from the Clutha River Gold Dredging Company’s dredge proved a surprise to all concerned when it was found that 660 ounces had been recovered for 123 hours’ working. The company’s returns lately have mostly been in the vicinity of 50 ounces a week.

At the present time, the dredge is undergoing certain alterations to enable it to work the flats of the river valley, and is dredging on tribute for the Molyneux River Dredging Com-, pany. It is working on a portion of the river, not far from Alexandra, which has been dredged more than once by other machines, and it is not altogether easy to understand why such a pocket, if a pocket it was, had not been picked up before.

The water was not deep at the place where the dredge was working, and there was no reason to suppose that a rich return might be obtained.

4 CLEARING SALE AT ' KNAPDALE

There was a big attendance of district farmers at a clearing sale conducted at Knapdale by Dalgety and Co. Ltd. on account of Mr John Mathieson. The stock was brought forward in good condition and sales were made at ruling rates. The implement sale was particularly good, and most of the prices were well up to market rates. Sales were:—Twenty-eight 1 and 2shear ewes at 29/6, 172 3 and 4-shear ewes at 26/1, 82 f.m. ewes at 17/1, 5 f.m. ewes at 22/6, 15 wether hoggets at 16/6; 1 6-year-old mare at £lO/10/-, 1 aged mare at £6/10/-, 1 aged gelding at £7/10/-, 1 4-year-old filly at £9, 1 4-year-old gelding at £B, 1 2-year-old gelding at £6/10/-, 1 2-year-old filly at £6/10/-. The principal implement sales were: Set chain harrows at £5/5/-, 4-leaf harrows at £6, 1 at £5/10/-, 4-horse blocks and chains at £3/2/6, binder at £27, roller at £26, scuff let at‘ £7, ridger at £l5, 13-coulter drill at £42/10/-, cultivator at £B, discs at £lB, double-furrow plough at £B, digger plough at £4, dray at £lO.