REVIEW OF THE SHARE MARKET.

Press, Volume LX, Issue 18219, 1 November 1924, Page 10

REVIEW OF THE SHARE MARKET.

The number of sales reported on tho various Stock Exchanges shows a further falling off which is partly accounted for by bdidays held during tho week. There is renewed enquiry for Government Loans and sales have been recorded in the 4!, per cent. Bonds anrt Stock due in 1938 at> £97 10s, and m the 3 per cent. Poet Office Bonds due in 10-27 at £9B. The former show prac-h-allf no change, while the latter e-.«cd 2s 6d as compared with last week's transactions. Five and a half IKI - cent. .Soldiers' Settlement Loan s;,k duo in W33 UlOl 10s. as against £lOl lOs ami 7s 6d a fortnight apo. Bank of Australasia sliare> have oa. Ed from bigness about a > no » t!l a | lib-, and a week ago.at £l-5 <>s, to nirnovor this «•«* *fl? f-couent sellers are offering at that figure with recent buyers responding at 1 There are unsupported sellers National Bank of N.Z Ltd. at £6 14s hut no sales have been reported tins week, those last week being at £b Ids. New South "Wales had enquiry a daj or two ago at £4l, afr which figure they • banged hands a fortnight ago, but sellers wanted £4l 7s 6d Now Zealands were placed at o9s, .-,9s M and 50* 6d, as against -58s Jd, ,j9s and oOs 6d last week, and more aro wanted at 59?, but sellers are reticent. , Union Bank of Australia shares, cum the rights referred to in these columns, chanced hands this week at £l4 14a •tud £l4 12s (id, and late sellers are offering tit £l4 os, buyers responding at £l4. . ' ~ Tho "Rights'' have been dealt in at 4-ls. 46s and 4(is 3d. with further quot- j ed buvers at 4Gk, sellers Is higher. j New Zealand Insurances remain mi- j altered with recorded turnover at 30s, and subsequent sellers asked 30s 3d, without response. _ South British were dealt in, ex the recent dividend of Is per share, a« 4'_s Oil, as compared with business, cum the dividend, at 42s 9d last week. Recorded business ?n Goldsbrougli Mort shares at 4<s shows practically no alteration cn last week's transactions, and lata buyers are ofFering 46s 9d, with Kellers responding at 47s 3d. Iho New Issue sellers aro holding for 465, with recent quoted buyers at 4os 9d. Buyers of N.Z. Loan and Mercantile Agency ordinary stock, in. which tho last reported turnover was at £9O 10s, have offered £92 this week, without 'attracting business. Huddart Parker ordinary share? changed hands at 43s 3d, as compared with 43s 3d and 43s 6d last week aud more are availablft ftt 43s 6tl, "with, acr" dared buyers at 42s 9d. The enco issue been offered at 20g 9d and 20s <sd during the week, without response. N.Z. Refrigerating shares continue i active and in the contributing issue transactions have boon recorded at lis Sd, lis Oil, lie off, ris 6d, and lis 4d, a.s against prices ranging from lis 6(1 to 12s last week, and nioro aro wanted ut lis id, lint holders aro reticent. For the fully paids unsupported sellers are asking 235. Canterbury Frozen 3leats had recent enquiry at, £l3 19s, but sellers were asking £l4 os, and no sales have been , reported for some weeks past. Itecorded business in Raiapoi Woollen ordinary shares fully paid at 14s shows a further easing and tlio partly pai9s have also eased to turnover at is. For the former there are, declared buyers at 13a 9d, with eellers at I4s 6d. CJhrißtchurch Gas shares, which were placed about three weeks ago at £7 13s and £7 14s, are on offer at £7 los, without attracting a declared buyer. In Brewery shares Mannings are sought at 3os 3d, with holders asking 365, as against last week's closing quotations of buyers 84s 6d, sellers Bos, but no business lias been reported during the week. New Zealands which sold a fortnight ago at 27s and 28s, are new on offer at 28s 3d, without response. For "Wilson's Cement shares, in which tho last recorded turnover was at 29s 9d, there is firm demand at 29s 6d, with declared sellers at 30s 3d; and Kauri Timbers, which were dealt in last week at 30s 6d, havo had further business at that figure, with rooent sellers asking 31s and buyers quoting 30s. Beath and Company shares had salo at 31a 6d, as compared with 32s about a month ago and more are available at 325, but buyers are net quoting. Burns, Philp shares, which were placed last week at 345, aro now on offer at 34s 3d, with quoted buyers 9d lower; Electrolytic Zino deferred ordinary shares for wliich buyers were offering 3d at the close of last week, have sine© been turned aver at 23s 3d, aud tho preference issuo which chajiged hamre last week at 2os 6d havo eu9 Q i?vat that figure without response. N.Z. Drug Company shares havo eased from 71s 6d aud 70s , to recorded business this week at 695, with lato sellers asking 70s, no buyers quoting. N.Z. Farmers' Oo.op. shares, £2 paid, wcro placed at ss, showing a sharp decline as compared with reported sales at 12s <sd and lis 6d about a fortnight ago, and more are available at 4 8 6d. with declared buyers at 2s 6d. United Pictures are in demand at 27s 6d. bnt holders; aro not quoting. Waihi Mining shares changed hands at 27s 9d, 2<s 6d and 27s 3d, as afrninst business last week at 27s 9d and 28k

GENERAL MERCHANDISE. GROCERIES. Wholesale merchants report fair business this week, 'with tho good enquiry for foodstuffs usually connected 'with shearing camps. Jiarly this week a small shipment of Canadian onions landed on a very bare market. They went immediately into consumption, and within 48 hours of their arrival not a caso was available. Shipments of Australian onions from Melbourne have ceased for tho season, and it now looks as if New Zealand will bo on very meagre supplies for the next few months ' The tea market is excited, and buyers are operating freely. Orders lor certain lines of packet tea are sow subject to considerable* delay, and in any case are accepted on the strict condition that buyer pays the price ruling at date of delivery, and not at tho time of booking. Bulk teas, which a*e-far better value than pocketed lines, are "a-ncn demand. of sago and tapioca for delivery •. Hjyoie. December steamer are very firm, tW advanced about 10 days ago. At the i ' ; UMCO ** no sign of valties 01116 quartera lugher prices are LjAjiflooks firm if values in First-grade qnahty) an quoted & .W-. • VT*'* «"&«»» present prices for

i the article. The steamer i Xj'-'i;, i- cue carlv with i'orn Auckland. Merchant* arc J>op:r.-_r _ that tin? ship v.iil !mw on bonrd supplies r.i ccldcn syrup, wiiicSt line Las lately been 1 in short supply. A now iin<- of tiwr.rd oysters patVd in New Zealand i«> nw on (he market, ynd :s ficdinjr a ready snie. The lino i« put i;;j in 111) tins and prices are cheaper thiin | for the American article. Tiio imported oyster is in a small-?ized tin, which sells for vf rv the price of the full l'b Xc'.v 7.e;iknJ pack, consequently the latter is the better value. Sicilv .lbnonds are in short supply still, and -,vill remain so for a while yet, 'mtil new supplies land, probab.y at the end ot November. Ba# rigs are in short supply, llerchanta welcome :i clearance of th:s lino before arrival of tii" lie-.v fruit, which :-hou!d hind tc iu nr curly in December. In the meantime merchants :i;» Invoking ajrninst the arrival. The present shorta?e will have to be overtaken when the new fruit. lancb, which will probably wean an iinnicdiitc. clearance. COAL PRICES. REDUCED RATES IX FORCE TO-DAY. On and aft<>r to-day the price of eoal Will be reduced. Consequent cn the drop in the price of Newcastle ccal it has been decided to reduce tho - price of most New Zealand coals. The following table gives the new prices for cash, as comoired with those previously ruling. Only the kinds in common use arc. given, and it will be noted tli-at in almost- every instanrc there has been a bigger reduction in the price per bag as compared with the price for ton lots: Xcw prices. OM prices. I'cr Per Per Per ton. 1)3.2. ton. bag. s d s d ed h d Australian .. 71 6 GO 75 0 G G Wcstport G7 0 5 0 G8 6 6 0 Stockton .. M 6 .> 6 68 0 6 0 Blackball .. (U 0 5 G G GO Kaitangata .. (53 B 5 6 64 G 5 G Avoca .. 59 0 5 0 GO 0 5 .'1 It is understood that there is no r.lera-t-:on in the price of State coal, the old prices fot which still obtain —60s i>cr ton and os per liasCUSTOMS RETURNS. CHRISTCHURCH FIGURES. The total Customs duties collected at Christ-church for October, 1924, though not reaching the amount collected in the same month of last year, were the third highest during the present calendar year. The amount collected last month was £4318 Is ,"Sd less than was collected in October, 192;', but was more by £4891 16s 9d than was collected in September, 1924. Tho amount collected last month wos 2g. Beer duty collected last month totalled .£6990 0s Bd,"a decrease of £2559 2s 9d as compared with October, 1923, and a decrease of i'l7oß 2s -I'd as compared with September, 1924. The details (shillings and pence omitted) are:— Oct., 1924. Oct., 1923. £ v Net Customs .. Beer Duty .. G. 990 9,549 For the ten months of the present year net Customs, receipts show an. increase of £27,944 5s 4d, as compared with the corresponding ton months of 1923; the beer duty receipts for the same period show a decrease of £328 13s 8d as compared "with the corresponding period last year. Details (shillings and pence omitted) are:— Jan.-Oct., Jan.-Oct., 1924. 1923. <L S Net Customs .. 892,622 864,077 Beer Duty . . 77,582 77,911 SHRINKAGE IN WELLINGTON. (PEESS ASSOCIATION TZLZGXAU.) WELLINGTON, October 31. The Customs revenue for the port of Wellington for October, 1934, was £185,997, compared with £206,746 for the same month, ill 1921, <a. deoreaso of £20,749.

PRODUCE LEVIES. MEAT, BUTTER, AND CHEESE. The amount collected in Christchurch in October, 1924, as levy under the Meat Export Control Act was £270 8s Id, as compared with £266 14s 7d for October Inst year. The total collected this year to data is £4074 3s 2d; and since the levy came into force in 1922, the total to date is £16,616 18s 9d. Under tho Dairy Produce Export Control Act the lovy collected in Christchurch on butter and cheese last month amounted to £3 5s Id, making the total collected since tho levy came into forco in March of this year £3BO 17s 6d.

NEW COMPANY. Registration of the following company i» announced in this week's "Mercantile Gazette":— Allen Bros., Ltd. Registered as a private company October 23rd, 19*21. Capital: £ISOO into 1500 shares of £1 each, buhscribers: Christchurch—A. E. Allen 500, F. W. Allen 500 and W. J. Allen 500. Objocts; To purchase, acquire, and ta&e over a& a. going concern tho business cf jobbing: carpenters, builders and building' contractors, lately carried on by A. E., 1:\ W., and "W. J. Allen.

THE STOCK MARKET. KEEN ENQUIRY FOR STORES. (snciiL TO "the fkess3 i DUJN'EDIN, October 31. Prices for fat stock havo eased from tho exceptionally high values lately reached, but thoy still keep on most remunerative levels. There has, however, been no modification of the demand for stores. There i 3 aji exceptionally keen enquiry for store sheep, of which many lines nave been sold and resold until the bulk of them are now in dealers' hands. The margin of prices between fata and stores has been reduced to a point at which it is difficult to see a prospective profit in fastening. This is no unusual thing when there ia such. a. flush of grass as there is this spring. Graziers' compelling consideration ia to procure stock to eat tho feed availably and competition puta up the price. A big scarcity of tiro-tooth ewea has been disclosed, as la3t year's high prices for lamb tempted graziers to fatten ewe lambs as well as wethers for killing. The sale of a line of paddock ewes has beer, reported at 40s per head, and prices arc likely to go even hisrher. There ia also a good demand for two-tooth hill sheep, both ewes and wethers, whilo sound-mouthed ewes fetch from 40s to 3~2s 6d, & big majority of the3o being bought for the Canterbury Plains, which were very lightly stocked indeed during tho last six months because of the absence of feed, but aro now providing splendid pasturage. Good beef is selling well, but it is onlv a, matter of another month or so before bullocks which did not fatten on turnips »nd are now being finished on grass will bo coming forward. Stwe cattle aro m very keen demand, good forward well-breij * U - locte bringing- from JC9 to X'lo 10s per head. Store pigs command excellent prices. Tho jump in the values c-f suckers » remarkable Ssr to flush of milk. A few months ago they cost 38 to 4s each. Todays prices f™m 26s to SOs each. PETROL PRICES REDUCED. A reduction of one shilling a case in the A r ®f netro i will come into effect as from fo day i ffiar reduction will take place in Illuminating and power kerosene prices.