FINANCE AND COMMERCE

Press, Volume LXI, Issue 18407, 13 June 1925, Page 12

FINANCE AND COMMERCE

. (BY OTJR COMMERCIAL EDITOR.)

REVIEW OF THE SHARE MARKET.

Sales recorded, on the various Stock Exchanges during tho past week show an increase in number on last week, nioro transactions being reported in Government Loans and Bank Shares for which, buyers havo been freely offering. The ton© of 'the market is go<Kl and in the case of several stocks dn upward tendency is' evident. Business in tlia 4-Jr per cent. Stock duo 193S at £96 15s, shows afr easing as compared with' that a fortnight ago at £97 and ; £97 2s 6d. The Bonds in this Loan changed hands at-£96 lis 6d as agaiijst last recorded turnover at £97, * Five per cent Post Office Loan Stock . and Boncte due in 1927 aro sought at £9B 7s 6d. Last recorded business in the former a fortnight ago was at> £9B /s : ad, and in the latter'about three weeks • ago at £9B.- > 1 ' v } - Fivo and a half per-cent. Soldiers ' Settlement Loan Stock- d*uo 1933 eased ■ 5s to business afc £lOl and lato buyers - are offering £lOl os, with recent holdt!rs asking £101" 10s. Tho \Bonds m -' this .loan which were turned' oyer at *lOl •2« 6d'last week, now have demand at £lOl Gs, without attracting a declared seller. , • New " Zealand Breweries • Debenture unaltered with turnover.' at f'' ' *■' * " *'• r M Bank - of Australasia ; shares ab £l4 -5s Cd, shows practically i'.iio'chango on.that done last week. an<l date buyers aro-offering £l4 65,. sellers.

■ 43 higher. „ 1 , Commercial -of Australia , ordinary *J shares had'■ turnover at' 30$ 3d,:.with •■further demand .at. 30s ,6d, sellers, at "-:31s;-and the : preference issno-at £b .•12s, with lato buyers', .. .9d.. sellers responding at £6 13s ; v,-. National of Australasia- .fully Wiid-sliarefl TTcre doalfc ih at £l6 os, as }.a4ainfltr £lO 4si6d, and £l6: 25, ; 6d/-n, , Week - wanted ;'£l6i7is: 6d, declared sellers at ',6 d. '.The £5 paid shar6s are sought at v£B :lg.6di libjddrß asking £8 3s 9d:\ t • r Y SeVeral transactions . took place .in. Bank: of , »" Zf aland V-"riAtßKV.»fc.2Ss,:?P» 2° B ® 5 ; • £ss4ld, 255; 3d, 25s lO.d, and 25s as com■r piired-with' last woek's pnees -from 1 26s 9d to 265. ' , -• .Now-, South Wales shares changed lianda at £4l 7s 6d as against £4l 10s and >£A\ ss, last week, and more- , aio on offer at £^llos, tfcclaLed bufcra; at £4l os. . 'J Tvcw Zealands 6how; a , slight casmff* the <fold!' issue ,hamg placed at 5/s 6d and the '"New';' at 56,1 10d, and 56s 3d, as .compared witli. last -week's sales in * '"tho former 'at 57s • 6d, 583 ■, and 58s 3d, v and in- the latter .up, to. o7s. ... For tho ' "Old" unsupported sellers are atklAg fi7s 9d, and the "Now''" are available •? at SGs 6d, quoted buyers'at 565. ' ' Union, Banks were turned over tms ~ week at 1 ;£14 tßs; '£l4 13s 6d,',£14 165,, .*• £l4 Us 3d and £]4 14s" 6d, ris compared with £l4 15s < last wcclc, and- ' -' lato sellei's are asking £14.165,-buyers' LV lower. ' • . . . ■ ;:, r " " In Insurance shares -Nationals at/wis ' show 'rfti easing on last reported saJes a ■' fortnight ago>at--7is-Gd ,and«,7ls> 3d- f ■ . New Zealstnds at 34s 6d are on a par_ • >J ' with'highest turnover, last week; w hjle {South British 3>av« improved frfciin biisineW kt oOb last week to transacv tions this. week, at 'sos,. sCfs 9tjj 50s 3d, * and 60s 6d. s , , j - Standards are m demand at,4<fsdd •f -'witi 1 . decent .declaredi 6ollers at : 44s—' ; '^th&' figure, at which '.business • was done : '*' ' ' "*' * •«'<.!. •* • • >, Goldsbrough, Morts, changed (Hands - this week 'at> 47s M, . showing no altoration on highest recorded * sales last I,vcek, and'lato sellers are asking 475,<9d, ,<9d, with buyers at 47fr' 3d.. „ • v' NationaliJMoTtgago and Agency shues; .-z.Ci.\yfeifo...placed., at 765.(3d,. -as., compared i "with 755, 775, and 76s a fortnight ago, ' and there are further unsupported sellers at 78s. ' ' • • • iv.< • Now • • Zealand Loan . and Mercantile. Ordinary Stock, in which last week's" salei xyero 'at > £94 and £93 r 10s,. > have Binco had enquiry at £94- without ,re« ; ap'onse. 1 . . - - For Howard Smiths, sellers are ask- * 1 ing 3(fe 6d, buyers 3d' lower. Business °"last week was at 35s 3d.

" at 44a «6d last" since . sold i ""■"at 44s 9d and 4456 d, and' there are ? y further.nnsuppofted) sellers -at 455. " J , :> Goar "Meats unaltered,'-.with . rocQTded turnover at- 44 s- 6d, and subse"y qugnt btiyera 42s 6d failed- to a .declared sell6r. V Now Zealand .Refrigerating fully-paid Jv- : sharoß,which liad not had; recorded , ' turnover for 6ome weeks. past; -were / dealt in this weclc at IDs Cd, and .the - parjjly-paids at.9s 9d,'95.7d,-.snd 9s Gd, ~!. 7d .last weok. ' v -V ■ Pbr .Nortll Canterbury Treeing. Cota:. »« pany shares unsupported sellers a day. or : two ago were asking ,42a ,6£ v. Woollon Company shares hayo re- • ceived very little, attention, and •no salos have' been reported for tho past fortnight. "Wsetport Coals lave eased, business beinff recorded, this weel\,.o* 9d per share, ! at 32s* and 31s 6d, as against that done > -a~ fortnight oago, cum the .dividend .at, "i '33s Cd'. J Late>sellers, are.offering.at 31s r. . 9d, buyers iOd lower.v ; - ■ i- ; • jS"o business has been .reported,. in i ■ . Brewory Company ; . shares, > although. ' JiaS been good enquiry: for Crowns ' ,*t and Jjjfar Zcawnda-at /prices slightly y, those ruling last'.'wocK . y 1 ' , Tor 'Wards," sellers have.; recced their '* - from.<}os"to 59s : wi£hbut attiact- !• -ipg . buyer. •' .• •„ ;'j ~ Unsupported aeUetjj. of v-,y;aßking,'37s> which; is 6d rev ; ported ljupineMvaboU't; ; ¥qrt&ight afety : i \,jwith recent-.quoted buyer's aV3G& 7d.' ; . Wilsons Cements-show steady ,; imr. < provoment... Business a, fortnight ago, -i-.cum .a'vdividciid of 10d per share,., "was; .£t irJit j3lg«9d,t. and transactions this jreok' f», v - ex.vtho, dividend have, been; at.' 31a.6d, l,':'.->325,>;32s :6djiand 32s vSd, with .subsequent i demand-at 325-6 d, sellers "at-335. j ». . 'Kauri. Timbers - advanced fromsales -'. .■at.S2s 9d aiid 32s :10d.laat.wcck:.ta 32s <. 9d* and* 33s Cd this week, andlato asking- 34s # ~buyers; respond- " ing at v S3s. ~. • 'Business in Burns, -Philp shares -at 35s' 9d shows an'advance of 3d on that recorded last-week, and moro aro on : offer at~- that; figuredwith: buyers 9d. lower. ■.;■■■. .. c .' ". y,Henry Jones Co-op. shares,' which ar<T " r ; ijslf&qtmtly tinoted at t -. -43s J)d.and 445. *-■ ; >J)oiri,mion Bubbles jumped from ..sales £olist: iwpek•; at ranging -from.^s ; v ' 9iyto;27s, tojbusfoWsHhis 32s :.ij£ , - . }■-. T efr'Zealand ijFarmers*; Fertilisers im* turnoVet; ». }" Por. iffew" Mills, Which i?yi < li^ie, J p^ced ? t'ti99-,9dand l l9s7dvlast; ►offeriiigi Ste' 3d,. I '%; •la Mining shares, Kawaraus were "jicalfcaft at-14s 9(3*'as against 19a and

DOMINION'S TRADE AND MARKETS.

ISs 6d .a month ago; Waihis at 26s 3d, as compared with last week at -27 a and 26s lid; and Mt. ; Lyells at 21s lid, as against last frcek'sr prices ranging-from. 21s ■. Gd to-21s IOd. ; GENERAL MERCHANDISE. GROCERIES. "Whoiesalo merchants report business as being fair,-vHih .Sny .amount of room for improvement: • . .The tca'fflorkct is onciT again on the more, and-grades usually imported into this country are commanding' .Increased values. Ship-, nients mads" from Colombo- from "now on will bd not quite so good as the earlier deliveries, the finer grades having been disposed of prior to June.

Stocks of Zig-Zag cigarette papei'3 aro now available,. the , loweot • Quotations for quantities • beiu" 8s * 6d, with 'no prospect wjiatqv.or of tower values.- If'any move is ..made it will: in all .probability be upward. Supplies of : bulk' English coroa are on board thi Port Melbourne, due jn Lyttelton shortly. At the moment fttocJis 'of this -com- - modify, (loose), aro light,. and retailers, aro attesting frtfsh' arrivals.' '» ... Tlio sago aD'd tapiocajmarket in' Singapore, wliicli' ha 3 been low, i has started , to advance.. Further rises aro expected. This market •came down, ond buying:.6et -in heavily for Septcmber delivery. : This ■ has caused the markot; to rise, which .will, as.in the past, 'c&U'be ' mote buying .orders to be" placed— ; and therefore tend farther"to incrcaso jcsporl prices.. "• Quotations havo' boen received from London for new season 1 ? Jordan oliaotids. Prices are .high, and-' this . coming Christmas will see Jordan' almonds -quoted round about tho 3s' mark. | . Stocks of sou {ls are low. with fair enquiry. Local packed lines, however, are available'.to -fill any "shortage. . • • • Tho Sussex brought supplies' of rico from Rangoon, Much has'tunied; out to_ be a good average, sample. Thero has 'b'cen a Very'keen demand for this article, ft.n'd most importing houses 'havo; sold their parcels ex -wha>f, awi • ar» .therefore ' unable ; to offer from store stocks. - J ■ ' . - '■' This season (that is' November arrivalj -iof ill varieties 'of almonds • and* nuts higher prices) will 'bo the order: of the A high price of ono variety of . Jitits' always. meanfc V .higher value for other varieties,'.including almonds' (both Jordan; and Sicilian).'; In the manufacture 'of jvegettblfc fats,-Which" is extensively carried on in Europe/ largo quantities •of • nuts of all sorts are used; As, soon as a manufacturer findsono, variety adr vanclng. in , price, he tjirris. his attention'*lo. another' sort..' This''causes tho sicond variety' to advance,-: and fhis-.process foltawcci gonerally 'acans -all-round" increases in.;ail •lines', v • '

THE MEAT HOUSTR#/

CONDITIONS IN THE ARGENTINE.

...-'.The New Zealand-Meat • Producers' Board, has ..received.--, tho fbUdTvips 'loUor- its South Amaticaa repreientatlvc,, date'd', April:l3th, 1925:-—. '.; J f... '• Besi :.q'naiity fat! cattle ' have taaiatained thofr"'iirice".since j'last yrote'your Board, bnd *ia ■ several •' casts higher prices . than thoao quoted' in this j letter harq hoen reTftcoiveti well: finished: lots in tho local, cattle market, where ns high ki 7.*3 d p'er kilo live, weight, Jias fceen obtained. Valuesof .the Continental grade-of'. beat hav« been better maintained than was : expected, and prices are' ..similar Jo [last month's., .Thero is "large6ff*Hns: ,: of (he plaino'r 4 'cattle, though good, stuff iS scarce, and . likely >to'be dearer. . Owners are trying to di«poseo£.all thp; cuttle,'they. ;ha#o .;in condition be-' Iho '"winter cantf?s':-sucli; Animalsrto be:., come' thin .oftdi unsaleable. ■' Stare cattle are iri. good demand, and values laaintaincd, as also are breeding cattle. ! ■' ' . • .Pasture htis i come away wonderfully all over tho country,-though there are Eomo districts ' whero tho' looa'sts* ato" tHrf 'o* nKalfa so badly , that- the plants have been pbfsoaied, 11haira ' to ' be rcsbwn. The past season was one ot the worst on record "for 'depredations of the Jdctiite, and : considerable' areas ' the best and' some- large owners had to "dispose of ;lhe tasturei-to "fe^d 1 them,on. ■'■•••■■: : • : . , There 'are 1 ' some 'districts' itt tho\ south of the province of Buenos Ayres where tho cattla are' yefy-.thln, i»t this" season of the year—the beginning, ol| winter—and . if. itrrere weather." ■ be j •. experienced large ■ nttmbere ; of sUcli^'blasts.'will-'die.'; these are instances of tlje; in particular parts of tho ■ oon&tfy, though . the general' conditions at the. ..beginning, .of ...winter,.. are., much . better; havo been'expected. ■ y-There is™, a ,better demand for all ..classes iof sheep,, though. Iwwr have-been sent to I .the Tocar 'niarket. ;: I cSpcct to .have *th'e numbers -slaughtered' in the Bouthern •plants to send by next; months s. letter, tltongh' •X: hear' a nnmbcf .of .plainr quality.Jua-' 'finished-sheep., have-'been killed. V: 'of :live cattle- to- Europe have, practically . 'stopped. ■ i Swift's prißos i are:-7-Ohillers, 6.91 d per kilo live weight; freezers," C.33d to 6.53 d; Continental; 6.14 d; chjHler : cows, 6.37 d; canaer Bteors.>'3.B4'd;j.cows.; c»nner«i 8j26 .to wethors, -7.29 dto ..-T.OSd; . cwos,. 6.53 d to--0,91d. fxchange, dollars to £ sterling. FRUIT MARKET.

CHKISTCHURCH. - Vojelabtcs were in' plentiful • lapply ihis week, but foTtanatoly the demand -was : Rood, 1 and good prices- were realised for all-classes. Although there was not a bis demand, apples and pears sold . steadily throughout the week, and eood qaElity llnea niade eiitißfMtdiT' fi?ureß. ■. . Oriinges, lempns, ' and /-bananas aro all de'jir,. at .preaent, the supply. of , none of these' fruits beln'p equal jto the demand,'' /. A •tnnall- BtLipment qf clti'nß' fruit arrifed from Sydney "on Thursday, :on,d sold at.--Very' high prices. From now on. there..- should ,bo . weekly,.shipments.-.of >eitrrtts. fruit froin tho other side.'. The a- shipment' of oranges ' aiid 'bananas from - Rarofonga', •- is due to arrive- in Xiyttelton early nett Week; | Quotations arenas follows-—Apples,.kelson,' per^e|so..7?i ; .tc»'9s, local .per. caie' 7a 6d to ; 9p, cooVing'per'case 6$ to 7s 6d; b»ninas, Cook 'lsland per case up to 25a, Fiji per caso up .to ?7s 6d;'grapes, pound Is '4d to 2b 64;./'lemons. South Australian per case S'Ss;;mandar)ni per.case up to' 2fis; oranges, CpoK-Island," per casoj is» 6d, savela -,23 a 6d, mataaalad'e 'lSs Sd'; passions,, Auckland, per-' .case 17s, . Sydney case 2Cs ;' pineapples, Sydney, por "case 37s ;6d^ : poars,' per caso 5s (id, de'ssortlper .'jJoiind 3d.to 4d) tohiatoes, dessert per.; pound Is; walnuts, per pound Is 3Jd-;.'boit,> per dozen bundles up. ;to 1? 2d; cabbages, per dozen up to 8s 3d; i caulifiowcrs, per dosen up to-li>s 3d; carrots," per doion Up to _ln ,3d ; celery, per •bundle up to BJd; jgrecn peaa- p«r- pound .If Id; leeks per bundle up, to.4£d{ .lettuce per dosen. up.to 2a 3d;. marrbwß per; doscn up to'Ss; • potatoes, pcr .f.b.; 45, : to ss; parsnips per •dot up t'o le; pbtatoee, per'sack* 7s- to >Os; :.pumpkias per pound' id; radishes per dosen. :up" to -s rhubarb- per doaen- up to -7s Cd; spring onions per. dozen up to 25,. tux--jiips per dozen up to.-ls; : spinach/per. dozen "up.to 2s ,Cd; swedcs pcr s.b. up.to 2s. >,

- , DUNBPIN. v . ; .. (sriciir.' to ."THBirMss.'') , , IJCNEDIN, June \l2. . .-tOhoice Delicious apples hare tho : best enquiry.--: ■ The pcars' forsrard are'inoßt•Jy out.-of .the" cool stores.'. - Lemona : " are high -prices. • latest, . wholesale prices are:—Apples, Jonathins, chiolcb 8s -to lOs, -JDeUcious'-lOs - tor I2j,' cooking- 4a .to .ss, choice .Qa; .tomat6es;-lQcaI r hotHoase to*ls : 'Bd pec'lbf bananas, ripe 82s per case;'oranres,' Tahlti.-20a tb»22s; fijii mandarins 13s ed' t6<Me; peats,'beat- 2|d to t3d!"per'"lb, dtiers 'ld fo 2d'per:lb;--I , oonnan oranges 15j. . ,new; companies. . ; rpmy w , ,y -Cv,- r • •' Caacide-Weßtport Coal Co., iSiV ■ Eeed. ; -jj 0150 6tb, ; >iD2s. - Capital£2t),ooo into K) t oft) 'filiates.o!;'£r;eaichV •; Snbsnribers'Weatpart—: 'T. l; C;'-Elcodc,C: P.. Kewman,-• Mc-;-Poddeni''F. • A;:' Kosnnan:; ■B. |DiHoT^,-'ftv'.S. i Mitchell, -1share-" each. Objects j' To acquire' and tslcor 6TcK : M v '.a;-^ii^ ; .b<^<»mt£e;c^ • l.Tiaineea 'on- by" uie• Cascide-Werstport ; ;Co<3»r*tiYC1 "C-eal. Party,coal-mimnjr;and iwiditataL'-.' * •'