BANKING SHARES QUIET

Southland Times, Issue 24235, 19 September 1940, Page 3

BANKING SHARES QUIET

WOOLLEN COMPANIES FIRMER INVERCARGILL STOCK EXCHANGE There was again a strong demand for Government securities on the Invercargill Stock Exchange yesterday, up to £lO7 being offered for the line maturing in 1954-58. Banking shares were quiet and the same applies to insurances. Strong inquiry came for woollen companies’ shares. In the industrial section there was a steady inquiry for all the leading lines. Sales of Union Banks at £7 and Mount Morgans at 7/11 were reported. Quotations were as follows: — Government Debentures. —4 pc. Stock 1940-43, b £lOO/10/-: 4 p.c. Stock 1943-46, b £lO2/10/-: 4 p.c. Bonds 1943-46, b £lO2 10/-’ 4 p.c. Stock 1946-49. b £105; 4 p.c. Bonds 1946-49, b £105; 4 p.c. Stock 1949-52. b £106; 4 p.c. Stock 1952-55, b £lO6/10/-; 4 p.c. Bonds 1952-55. b £lO6/10/-; 3Vz p.c. Stock 1953-57, b £100; 4 p.c. Stock 1948-49, b £100; 4 p.c. Stock- 1954-58, b £lO7/5/-. Local Body Debentures.—Bluff Harbour Board, b £lO3/10/-; Invercargill City, b £lO3/10/-; Southland County, b £lO3/10/-. Banks.—National of New Zealand, b £1 19/-; New Zealand, b £2/2/-, s £2/2/9; New Zealand Long “D” issue, b £l/7/-; Union of Australia, b £6/15/-. Breweries.—Dunedin Brewery Company, s £l/5/-; New Zealand Breweries, b £l/14/6, s £l/15/-: Tooth’s Brewery, s £2/16/-. Coal.—Kaitangata, s £l/11/6; Westport Coal, b £l/2/4; Westport Stockton (pref.), b 5/-. Insurance. —National, b 18/6; New Zealand, b £3. 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. Refrigeratig (20/- paid), b £1; (10/- paid), b 9/4; Southland Frozen Meat, b £l/15/3. Shipping.—Union Steam Ship Company (pref.), b £l/6/-; P. and O. Stock, s £1 4/-. Woollen Mills.—Bruce, b 18/1;. Kaiapot (pref.), b 17/-; Mosgiel, b £lO/5/-; Oamaru, b £1; Wellington Woollens (pref.), b £6 10/-; Bonds Hosiery, b £l/7/-. Miscellaneous.—Australian Iron and Steel, b £l/5/-; Broken Hill Proprietary, b £2 5/-, s £2/6/-; G. J. Coles, b £3/3/6; D.I.C. (pref), b £l/3/3; Dominion Fertilizer, b £l/7/-; Donaghy’s Rope and Twine, b £2 14/-; 1.C.1. (pref.), b £l/4/-; McDuffs Ltd., b 9/3; McKenzie’s Department Stores Ltd., b £2/2/-; McLeod Bros’ Soap, b £26/5/-; Milburn Lime and Cement, s £2/1/6; New Zealand Drug, b £3/13/6; N.Z. Guarantee Corporation, b 3/3, s 4/-; New Zealand Paper Mills, b £l/9/3; Woolworths Ltd. (ex), b 17/6; Woolworths (N.Z.), b 16/-; Southland Ice Cream, b £l/2/6.

Mining.—Broken Hill South, b £l/5/-; North Broken Hill, b £l/15/-; Big River, s 7d; Electrolytic Zinc (ord.), s £2/11/-; (pref.), s 6d; Martha Gold Mining, b 7/3, s 7/10; Mount Lyell, b £l/6/-, s £l/8/-; Mount Morgans, s 8/2; Nokomai, s 1/2; Okarito, b 6d; Austral (N.Z.), b £l/2/3; Grey River, b 16/-. DUNEDIN Sales.—Union Bank £7; Westport Coal £1 2/9; Broken Hill Proprietary £2/6/-; D.I.C. (pref.) £l/3/9; New Zealand Drugs (rights) £l/6/6; Gillespie's Beach s*/ 2 d. • CHRISTCHURCH Sales on ’Change.—New Zealand Breweries £l/14/9; Woolworths (Sydney; ord.) (ex div.) 18/3., Sales Reported.—4 p.c. Stock 1943-46 (two parcels) (late sale Tuesday) £103; 4 p.c. Stock 1954-58 (late sale Tuesday) £lO7/17/6; New Zealand Breweries £l/14/9; Carlton Breweries (late sale Tuesday) £3/3/6. WELLINGTON Sales (late Tuesday).—4 p.c. Stock 1952 £lO6/12/6; 4 p.c. Stock 1958 £lO7/17/6; Bank of New Zealand £2/2/6; Carlton Brewery £3/3/6; Broken Hill Proprietary £2/6/3; McDuffs (pref.) 19/6. Sales (yesterday).—Bank of New Zealand (2) £2/2/6, £2/2/8; Wellington Woollen (pref.) £7/2/6; D.I.C. (pref.) £l/3/9; New Zealand Drug (rights) £l/6/3. AUCKLAND Sales.—Stock 1953-57 3'/z p.c. £lOO/12/6; do. 1954-58 4 p.c. £lO7/12/6; Auckland Tramway Board 1944-48 4’,4 p.c. £104; City of Auckland 1942 4*,4 p.c. £101; Bank of New Zealand (2) £2/2/6; F.A.C. (B pref.) £l/1/6; Dominion Breweries (2) £l/11/6; Broken Hill Proprietary (late sale) £2/6/-; New Zealand Drug (rights) £l/6/9; Emperor 11/-. SYDNEY (Received September 18, 9.55 p.m.) SYDNEY, September 18. Trading on the Stock Exchange today was along cautious lines, with an undertone of firmness. Sales.—Commercial Banking Company of Sydney £l9/2/-; Henry Jones £2/13/6; Kandos £l/10/-; Newbold £l/5/-; Woolworths 17/7; Wilcox Mofflin 6/4; Berlei £1 12/-; Mount Morgan 8/1; South Broken Hill £l/5/3; Oil Search 4/5. MELBOURNE Sales.—Consolidated Industries £l/15/3; Howard Smith (ex div.) £1; Cox Brothers 7/-; Drug Houses £l/6/3; Emperor 10/6; Loloma £l/3/6.

MILNE AND CHOYCE LIMITED TRIBUTE TO LONDON OFFICE (United Press Association)' AUCKLAND, September 18. “Before concluding I must pay tribute to our London office,” said Mr J. S. Milne, chairman of directors of Milne and Choyce, Ltd., in moving the adoption of the report and balance-sheet at the 39th annual meeting of the company today. “The cheeriness of their letters, the celerity with which they handle the business and the calm courage in the face of all they are passing through is a wonderful example and I am sure the allocation of a bonus to them will have your full support.” Mr Milne said this year’s trading had shown a substantial increase. Including income-tax accretions, mortgages, creditors and depositors the company’s liabilities totalled £122,888 and against that there were assets in stock, debtors and cash amounting to £222,455. The staff numbered 556 and would again share in the company profits. The report and balance-sheet were adopted. j . Tire retiring directors, Messrs J. Bruce Elliott. and H. V, Choyce were reelected. I,