COMMERCIAL

Southland Times, Issue 24239, 24 September 1940, Page 2

COMMERCIAL

STOCK EXCHANGE QUOTATIONS

STRONGER MARKET FOR INDUSTRIALS OVERSEAS MINING SHARES ' MORE ACTIVE There was a stronger market for industrial companies’ shares on the Invercargill, Stock Exchange yesterday, G. J. Coles, Broken Hill Proprietaries and Woolworths all being in demand. A very firm tone existed for Government stocks. The market for overseas mining shares was a little more active. Quotations were as follows: — Government Debentures.—4 p.c. Stock 1940-43, b £101; 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 £105; 4 p.c. Bonds 1946-49, b £105; 4 p.c. Stock 1949-52, b £lO6/10/-; 4 p.c. Stock 1952-55, b £lO6 10/-; 4 p.c. Bonds’l9s2-55, b £lO6/10/-; 3*,i p.c. Stock 1953-57, b £lOO/5/-; 4 p.c. Stock 1954-58. b £lO7/5/-. Banks.—Commercial, b 14/6; E. S. and A. Bank, s £4/16/-; National of New Zealand, b £l/19/6; New Zealand, b £2/2/6; New Zealand Long “D” issue, b £l/8/6; Union of Australia, b £6/17/6. Breweries.—Dunedin Brewery Company, s £l/5/-; New Zealand Breweries, s £l/15/6. Coal.—Kaitangata, s £l/11/6; Westport Coal, b £l/2/6; Westport Stockton (ord.), s 2/6. Insurance.—National, b 18/9.

Loan and Agency.—National Mortgage, s £2; Trustees’ Executors (Dunedin), b £4 5/-; Wright. Stephenson (ord.), s £l/0/3;

(pref.), b 19/9. Meat Companies.—N.Z. Refrigerating (£1 paid), b £l/0/6; (10/- paid), b 9/4, s 9/9: Southland Frozen Meat, b £l/15/9; South Otago Freezing Company, b £lO4. 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 18/3; Kaiapoi

(pref.), b 17/-; Mosgiel, b £lO/7/6; Wellington Woollens, s £7; Bonds Hosiery, b £1 7/-. Miscellaneous.—Australian Iron and Steel, b £l/6/-: Broken Hill Proprietary, b £2 6/-; British Tobacco (Aust.), s £2/10/-; G. J. Coles, b £3/7/-; D.I.C. (pref.), b £l/3/3; Dominion Fertilizer, b £l/7/-, s £l/8/-; Dominion Rubber Company, s £l/1/-; Donaghy’s Rope and Twine, b £2/14/6; 1.C.1. (pref.), b £l/4/-; McDuffs Ltd., b 10/3;

McKenzie’s Department Stores Ltd., b £2 2/6; McLeod Bros' Soap, b £27/10/-; New Zealand Drug (rights), b £l/6/-; N.Z. Farmers’ Fertilizers (pref.), b £l/1/9; N.Z. Guarantee Corporation, b 3/4. s 4/-; Wilson’s (N.Z.) Cement, b 19/3, s 20/-; Woolworths Ltd., b 18/2; Southland Ice Cream, b £l/2/6.

Mining.—Broken Hill South, b £l/6/-; North Broken Hill, b £l/16/-; Big River, b 6d; Electrolytic Zinc (ord.), b £2/11/-; (pref.), b £2/12/-; Gillespie’s Beach, s 6d

Martha Gold Mining, b 7/-, s 7/9; Mount Lyell, b £l/8/6; Mount Morgans, b 8/-; Nokomai, b 1/-; Grey River, b 16/-; Austral (N.Z.), b £l/3/6.

SYDNEY (Received September 23, 11.15 p.m.) [ SYDNEY. September 23. Prices were steady, with some rises, on the Stock Exchange today, but buyers were cautious. Sales:—Broken Hill South £l/5/-; Broken Hill Proprietary £2/4/3; Henry Jones £2 13/9; Australian Consolidated Industries £1 15/6; Anthony Hordern 13/4, Peters £1 0/7&; Tooths £2/10/-; Electrolytic Zinc £2 11/6; Mount Lyell £l/8/-; Carpenter £1 16/6; Woolworths 17/10’,2; British Tobacco £2/8/9. MELBOURNE Sales:—Mount Morgan 8/-; Goldsbrough Mort £l/5/6; National Bank (£lO paid) £ll 12/-. BIG INCREASE ON 1914 LEVEL - COST OF LIVING FIGURES FOR DOMINION

The retail prices index (base: 192630 equals 1000) for the three food groups for July shows an increase of three points since June (from 1071 to 1074), reports the Government Statistician. The general slight advance in the price of meat was reflected by an increase of 21 points in the index for this group; further seasonal reductions in the price of eggs have resulted in a decrease of 17 points in the dairy produce group; no movement took place in the index for the groceries group. When the July indexes for food, fuel and light are combined with the February rent index and the May indexes for the remaining groups, an all groups index of 1024 is obtained, one point above that for the previous month and 63.1 per cent, above the 1914 level. The increase in the all-groups index as compared with August 1939, is 2.9 percent.

I The wholesale prices index (base: I 1926-30 equals 1000), rose 15 points in July (from 1190 to 1205). An increase of 29 points in the index for imported commodities due principally to the higher prices ruling for metals and textiles was counterbalanced to some extent by a decrease of six points in the index for locally-produced commodities, caused by seasonal reductions in the prices of eggs and potatoes. The export prices index (base: 190913 equals 1000) at 1532 in July is higher by eight points than in June. Sharp advances in the prices of sheep and rabbit skins (resulting in an increase of 173 points in the index for the skins and hides group) were the principal cause of the rise. Other groups show little change, the movement in the principal indexes being— Increases: Minerals, 31 points; timber, 29 points. Decrease: Meat, 15 points. The share prices index (base: 1926 equals 1000) for all groups at the end of July was 891, an increase of 39 points as compared with the June index. The index for industrial' shares separately was 918, an increase of 30 points over that for the previous month. SUCCESSFUL - SEASON RECORDED PUKERAU DAIRY FACTORY COMPANY

Eight shareholders were present at the annual meeting of the-Pukerau Dairy Factory Company. Mr R. J. Potter, chairman of directors, presided.

In moving the adoption of the report and balance-sheet, Mr Potter said that the past season had been a successful one. He moved a vote of thanks to the manager (Mr R. J. Haggart) and his staff for their efficient services during the year. The repoi-t was adopted. Mr P. O’Hagan was appointed to fill the vacancy on the directorate, caused by the resignation of Mr J. Collett. Mr W. D. Shelton was re-elected auditor.

It was agreed to pay a dividend of 2J per cent, on the paid-up share capital.

At a subsequent meeting of directors, Mr R. J. Potter was re-elected and a motion to the effect that the office of chairman be a rolling one in future was agreed to.

MINING_RETURNS CLUTHA RIVER DREDGE

(United Press Association) DUNEDIN, September 23. The Clutha River dredge last week recovered 280 oz of gold for 115 hours worked..