COMMERCIAL

Southland Times, Issue 24236, 20 September 1940, Page 2

COMMERCIAL

■ STATE LOAN'S - ’ FIRM

INVERCARGILL STOCK EXCHANGE LEADING INDUSTRIAL LINES STEADY j Long-term Government loans were very firm on the Invercargill Stock Exchange yesterday and other issues were also in good demand. There was an improved tone for Bank of New Zealands, buyers being at £2/2/6. In the frozen meat section buyers for Southland Frozen Meats were at £l/15/6. There was a steady market for all the leading industrial lines. Quotations were as follows: — Government Debentures. —4 p.c. Stock 1940-43. b £lOO/10/-: 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 £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/-; 3>/ 2 p.c. Stock 1953-57, b £100; 4 p.c. Stock 1954-58, b £lO7/10/-. Banks.—Commercial, b 14/-; National of New Zealand, b £l/19/-; New Zealand, b £2/2/6; New Zealand Long “D” issue, b £l/8/-; Union of Australia, b £6 15/Breweries.—Dunedin Brewery Company, s £l/5/-; New Zealand Breweries, s £1 15/-; Tooth’s Brewery, s £2/16/-. Coal.—Kaitangata, s £l/11/6; 'Westport Coal, b £l/2/3, s £l/2/9; Westport Stockton (ord.), s 2/6. Insurance.—National, b 18/6, s 19/6; New Zealand, b £3; Standard, b £2/17/6. Loan and Agency.—National Mortgage, s £2; Trustees’ Executors (Dunedin), b £4 5/-; 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 9/4, s 9/8; Southland Frozen Meat, b £l/15/6; 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/10/-; Wellington Woollens (pref.), b £6/10/-, s £7; Bonds Hosiery, b £l/7/-. ; Miscellaneous.—Australian Iron and Steel, b £l/5/-; Broken Hili Proprietary, b £2 5/-, s £2/6/-; British Tobacco (Aust.), s £2/8/-; G. J. Coles, b £3/4/6, s £3/8/6; D.I.C. (pref.), b £l/3/3; Dominion Fertilizer, b £l/7/-; Donaghy's Rope and Twine, b £2/14/3; 1.C.1. (pref.), b £l/4/-; McDuffs Ltd., b 9/3; McKenzie's Department Stores Ltd., b £2/2/-, s £2/5/-; McLeod Bros’ Soap, b £26; New Zealand Drug, b £3/13/6, s £3/15/-; N.Z. Farmers' Fertilizers (pref.), b £l/1/6; N.Z. Guarantee Corporation, b 3/4, s 4/-; Wilson’s (N.Z.) Cement, s 19/6; Woolworths Ltd., b 17/10, s 18/6; Southland Ice Cream, b £l/2/6. Mining.—Broken Hill South, b £l/5/-; North Broken Hill, b £l/16/-; Big River, b 6d, s 7d; Electrolytic Zinc (ord.), b £2 11/-; Gillespie’s Beach, s 6d; Martha Gold Mining, b 7/-, s 7/9: Mount Lyell, b £l/6/-, s £l/8/-; Nokomai, s 1/3; Okarito, b 6d; Waihi Investments, s 6/-; Grey River, b 16/-; Austral (N.Z.), b £l/3/-.

DUNEDIN Sales Reported—Union Bank £7; National Insurance 19/-; Charles Begg and Co. £l/2/-; New Zealand Drug £3/14/-; Electrolytic Zinc (ord.) £2/11/6. CHRISTCHURCH Sales on ’Change.—Bank of New Zealand (3) K2/2/6; Canterbury Frozen Meat £lO 10/-; Canterbury Frozen Meat, (pref.) £6 12/6; Australian Consolidated Industries (cont.) 15/6; Woolworths, Sydney (ord.; ex div.) 18/3. Sales Reported.—Canterbury Frozen Meat £lO/10/-; Australian Consolidated Industries (cont.) 15/6; Electrolytic. Zinc £2 11/6; Emperor Fiji 11/1; Mount' Morgan 8/2; Nemona 4d. WELLINGTON Sales (late Wednesday).—Bank of New Zealand £2/2/6 McDuffs (ord.) 4 p.c. Stock 1949 £106; 4 p.c. Stock 1955 £107; Bank of New Zealand (2) £2/2/6; Beath and Company 15/6; Nemona 4d. AUCKLAND Sales.—Stock 1949-52 4 p.c. £lO6/10/-; do. 1954-58 (late sale) £lO7/15/-; Bank of New Zealand £2/2/6; Farmers’ Fertilizer (pref.) (late sale) £l/2/9; Radio (1936) 12/3; Woolworths (Sydney) 18/3; Emperor 11/6, (odd lot) 11/3. SYDNEY (Received September 19, 9.25 p.m.) SYDNEY, September 19. The Stock Exchange turnover today was heavier, with a stronger undertone. Sales.—Commercial Banking Co. of Sydney, £l9/2/-; Consolidated Industries, £1 15/3; do. (contributing) 16/7',4; do. (N.Z. delivery) 16/6, 16/5; Morts Dock, 16/9; Mauri Bros., 16/9; J. Fielding, £3/14/-; Electrolytic Zine, £2/10/6; do. (pref.) £2/11/-; Taranaki Oil, 6/-. MELBOURNE Sales.—National Bank (£lO paid), £ll 14/-; Broken Hill Propty., £2/4/-; do. (new) 13/10; Mount Lyell £l/7/9. SLIGHT EASING IN VALUES STOCK SALE AT WINTON

With farmers busily occupied with the lambing there was only a small attendance of buyers at the Winton stock sale yesterday. The market, more particularly for ewe hoggets, which made up to 35/-, was slightly easier as a result. Ewes and lambs sold well, while a line of full-mouthed ewes realized 35/6. Dairy cows brought from £8 to £lO/2/6.

Approximately 1100 sheep and 12 head of cattle were yarded. The National, Mortgage and Agency Co. Ltd., sold: Ninety full-mouthed ewes at 35/6, 70 ewe hoggets at 32/1, 30 Southdown ewes and lambs at 18/-, 9 Southdown hoggets at 28/-, 20 ewe hoggets at 34/1. Wright, Stephenson and Co. Ltd., sold: One hundred and thiry-nine ewe hoggets at 33/-, 50 at 28/-, 49 at 52/4, 1 dairy cow at £9, 1 at £B/15/-, 1 at £9/5/-, 1 at £B/5/-, and 1 at £B.

The Southland Farmers’ Co-operative Association Ltd., sold: Seventy-seven ewes and lambs (all counted) at 15/10, 16 at 11/9, 136 ewe hoggets at 30/1, 50 at 26/1, 28 at 30/1, 12 ewes at 8/3, 12 wethers at 38/-, 12 at 33/-, 96 at 28/2, 27 ewe hoggets at 32/-, 1 dairy cow at £lO/2/6, 1 at £7, 1 steer at £6/5/-. Dalgety and Co. Ltd., sold: One hundred and two ewe hoggets at 35/-, 70 at 34/-, 1 empty heifer at £3/7/6, 1 steer at £3/10/-, 2 empty heifers at £6.

PRICES ON PAR WITH RECENT_SALES GOOD INQUIRY AT RIVERSDALE The yarding at the Riversdale stock sale yesterday was made up mainly of sheep. The demand was sound and prices were on a par with those ruling at recent sales. Ewe hoggets were well represented and brought from 28/- to 30/8, wethers realizing 20/2. A line of guaranteed sound-mouth ewes made 28/-, while two and four-tooth sorts brought 24/7. The cattle yarding was a small one. Dairy cows made from £B/5/- to £lO/10/- and store steers brought £B/5/-. One fat cow brought £l2. Wright, Stephenson and Co., Ltd., sold: Three hundred and ninety-seven g.s.m. ewes at 28/-, 200 ewe hoggets at 30/-, 107 at 30/-, 2 store steers at £B/5/-, 1 dairy cow at £B/5/-, 1 at £7/10/-.

National Mortgage and Agency Co., Ltd., sold: One hundred and seven ewe hoggets at 30/-, 175 at 30/7, 60 at 30/4, 50 at 30/8. New Zealand Loan and Mercantile Agency Co., Ltd., sold: Ninety-nine 2 and 4-th ewes at 24/7, 50 ewe hoggets at 28/-, 1 fat cow at £l2, 1 dairy heifer at £lO/10/-. 1 dairy cow at £9/17/6, 1 at £B/5/-.

Dalgety and Co. Ltd., sold: Eighty-five ewe hoggets at 25/-, 130 wether hoggets at 20/2. J. E. Watson and Co., Ltd., sold: Fifty-two ewe hoggets at 24/-. COLOMBO lEA SALES J. Rattray and Son, Ltd., have received the following report of the tea auction held at Colombo on Tuesday:— Moderate supplies of good quality teas were offered. There was a strong demand for all grades with common kinds showing an advance of {>d per lb. Medium teas advanced «d per lb. Fine grades were unchanged.