REVIEW OF THE SHARE MARKET.

Press, Volume LXIII, Issue 18906, 22 January 1927, Page 12

REVIEW OF THE SHARE MARKET.

Recorded turnover on tho Metropolitan Exchanges for the past week shows an increase on the opening week ot the year Government Loans have ),cen active, but banks and insurance shares have attracted the bulk of tho business with movements mainly in favour of holders. In Government Loans prices show little variation. Four and a-half per cent, stock, due 1939. changed hands at £96 los; that duo 11M8, which sold -it. £ofi los last week, is now availabuat, £96 1-s till, declared buyers os ' J °Fou'r .imi a-half per cent, bonds, due 1030, ''ere placed at £97 10s, ana I.lio.se- due 1939 at £96 15s. Quotations for 5 por cent, I ost Office Loan, duo 1927, show little movement. Five and a quarter per stoc.*, clue 1927-11, was dealt in at £5)9 10s. Five and a half per i-on.. isoldieis Settlement Loan Stock, due i.933, had several traasactions at £lOl, an easing of os on sales a week ago, and more is on offer at £lOl 7s 6d, buyers 10s ;nvav The bonds in this loan havo enquiry at £lOl 2s 6d, holders asking £lOl 103. , , , , Five and a half per cent, bonds, due 1',j36, were placed at £lOl, which is on a par with last week. New Zealand Breweries 10 per cent. tlcbentures were dealt in at 21s 9(1, :Ms 6d, and 24s 7d.. a? compared with •_'4s 9d to 4d a week ago. In the Banking group Australasias sold at £l4 2s 6d and £l4 3s 6d, as against business' at tho former figure last week, and the market closed with buyers at £l4 2s 6d, sellers Is higher. Commercial of Australia ordinary havP demand at 335, the figure at -which business was done last ■week, but sellers want 33s 6d. Buyers of National of Australasia shares are offering £lB 7s Gd and £9 os for the fully paid and partly paid respectively, with holders of both asking 4s more. National of New Zealand rose from £7 Is a week ago to £7 3s £7 2s 6d, and £7 2s, and more are wanted at Sfi Is, sellers at £7 2s 6d. New South Wales at £47 and £47 2s 6d show a marked advance on last recorded turnover just before the close of business last year at £46, and late buyers are quoting £47, sellers responding at £47 7s 6d. New Zealands, with reported sales at 59s and 59s 2d, show little change on those of last week at 595, and more are wanted at 595, sellers 3d higher. Recent quotations for Royals, £1 paid, were Gd, on either side of last week's recorded turnover at 37s 6d. Union Banks, which wore dealt in a,t £ls 7s 9d a week ago, have since been placed at £ls 6s 3d and £ls 9s Gd, and late buyers are offering £ls 9s, sellers asking 2s more. Quotations for Victorias show little movement. -

Western Australians romain unaltered with recorded transactions at 54s 6d, art which figure more are on offer, buyers 3d lower. In tho Insurance section Nationals sold at 74s 6d and 745, as against 74s and 74s last week. New Zealands, at 37s 6d cum dividend, are on a par with highest recorded sales a weok ago—closing quotations Id on either side. South British were placed at 56s 9d, as against 56s 9d and 56s 3ld last week, amd Standards were turnedover at 57s 6d. Dalgety and Co. shares are available at £ls 10s, buyers at £ls 6s. Goldsbrougb, Mort shares, which ranged from 49s to 49s 9d last week, have further advanced this week to business at 50s, with late demand at that figure, sellers at 50s 9d. National Mortgage shares are on offer at 675'6d,-declared (buyers at'62s 6d. During the week New Zealand Loan and Mercantile ordinary stock was sought after at £92, sellers' £2 away, but no sales, have been reported for some weeks past. Huddart Parker ordinary shares were released at 47s 9d, 47s 6d, and 47s 9d, as compared with 47s 6d last week, and late sellers aro offering at 47s 9d, buyers 6d below. k N.Z. Refrigerating 10s paid shares, which rose to 7s 3d and 7a 6d last week, eased to 7s 4d and 7s Id at the beginning of this week, and, since the announcement that a dividend would not be recommended, have fallen to 6s 3d arid 6s, with subsequent sellers at 6s Id, buyers at 6s 9d. The fully paids are available sit 14s, declared buyers at 12s.

Kaiapoi Woollens partly paid were dealt in at 3s Id with further demand at that figure, sellers asking 4s 3d. Westport Coals had reported business at 35s 6d. Ashburton Gas shares had several transactions at £5 with late enquiry at that figure,. holders asking £5 10s. Aucklnnds changed hands at 23s lOd and Christchurch at 25s 6d, 25s 9d, 26b, 25s lid, and 265, with late holders at 26s Id, buyers offering 25a 9d. Crown Brewery shares sold at 21s 6d

and were subsequently quoted, ex dis-' tribution of ss.per share, buyers 16s, sellers 18s Gd. New Zealands were placed at 525, 52s 6d, and 52s 9d, with further demand at 52s 4d, sellers quoting 535. Staples sold at 39s 6d, a 6d advance on last week, and more are available at that figure, buyers Is <sd below. Mannings aro on offer at 20s 6d, buyers 3s away, and Wards are sought at 43s 3d, but no business has been recorded in either: Milburn Lime and Cement "rights" improved from 2s last week to prices ranging from 2s to 3s lid this week, with late buyers offering 4s 6d without response. Wilson's Cements, which sold at 34s and 34s 3d last week, advanced to business this week at 35s lsd, 3os, and 3os 3d. and subsequent sellers are offerinc; at 35s 2d, buyers 4d below. In the Miscellaneous section, British Tobaccos advanced from 51s last week to turnover at 52s 6d and 52s 9d with late enquiry at 52s 7d, no declared sellers. Burns, Philps, at 40s 9d show an advance of 9d on recorded business last week. Colonial Sugars improved 15s to sale at £55 15s, and more are wanted at that figure, sellers asking £56 10s. Electrolytic Zinc ordinary cum dividend were placed at 36s lOd and 37s lid, as compared with 36s 6d and 36s 7d last week, and the preference at 37s 3d and 37s sd, as against 38s and 37s 6d. Henry Jones Co-opera-tive shares changed hands at 495, and there is further enquiry at 49s 3d without response. Quotations for New Zealand Drugs are Is on' either side of last recorded business at 70s. New Zealand Farmers' Fertilisers were available during the week at 90s, but buyers are reticent. In Gold Mining shares, Kawaraus ranged from 3s 7d to 3s 9d, as compared with last week's transactions from 3s 4d to 3s 6d; Mt. Lyells changed hands at 28s. at which figure more are wanted, sellers ( .6d higher; and Ohinemuris remain -unaltered with turnover at 6s. INCOME-TAX. Tho Commissioner of Taxes draws attention notification appearing mon?t? y *E 1806I 806 that "I® duß dat « oi P a >- . nicnt of the income-tax is on Tuesday. Feb[f Yh y ♦ i 1927, Additional tax will accrue ' 1097 ™ ? ot pa j d on or before March l*t, iml PA demands W |U b e posted from the ? i S 0 Oommiisioner of Taxes- on or MM- 18a7 - »•«««• must be presented with all payments, and if a demand "■ received the Commissioner should bi eannuiJtttcd with.

GENERAL MERCHANDISE. • groceries. Merchants report business as fairly good, and orders are being booked for deliveries next week. The steamer Kurow arrived on Thursday with sugar, and as supplies are none too plentiful lier cargo goes into immediate consumption. Tho demand at the moment for sugar is heavy, and retailers would do well to keep their stocks up. ■ Thompson's unbleached seedless raisins appear to be good buying at tlio mo;neut, and there is an opinion about that higher prices are not far off for this grade of fruit. _ The demand at present for salmon is good and prices are right. The present looks a favourable time for buyers to operate, especially at tho low prices that are beiug ciuoted at the moment. Cargo cx Sussex, comprising sago, tapioca, and pines, has been delivered in the City. Pineapples ore in good demand, and the same remark applies to canned apricots, peaches, and pears. Cheese is reported to be steady, and the recent improvement in the price of batter in London will no doubt cause holders to wait for better values. Java peanuts are again being offered on the local market, but as this grade of nut is small it does not meet, with such a ready j-ale. It is tweeter than the Chinese, but. has not the same bold appearance, which causes it to b>) usually neglected by fruiterers and grocers. Cargo out of the steamer ffemuera is being delivered in tho City. It will bo remembered that this ship had a fire on board, and a general average was struck on her freight. So far as can be ascertained her cargo is in perfect condition. Reports received this week from Melbourne state that the onion market thero is weak, and iti a ton is the ruling price. It is too late now to import from Australia, and in any case the line would in all probability be Globes, which, from the experienco of former years, carry very badly, and in past years have landed more or less crushed and unsaleable. Melbourne also reports that heavy orders for flour are being received and shipped to New Zealand ports. It is understood that large quantities of flour have been booked for dispatch to New Zealand by later steamers, so at the moment the quantity landing is no criterion as to the quantity ordered from this side.

THE FRUIT MARKET. CHRISTCHURCH. The market was ■well Bupplied with vegetable this week, and generally prices wero tho same as last week. Good cabbages, however, advanced considerably in price, and peas hardened slightly yesterday, when they made up to Is Gd a peck. Tho market is heavily supplied with potatoes at present. There is very liltlo demand for thorn, and prices are accordingly low. Tho market is still well supplied with tomatoes. Good first grade lines aro making 7Jd to BJd a Lb, and secondary from 4d to 6d. Plums aro in over-supply, and with the exception of Burbanks, which are just coming in, prices of all varieties aro cheap. New season's apples are still selling well, dessert making' as high as B£d a lb. This week the price of cooking apples eased a little. They realised from 7s to 10a 6d a case. A few pears were on tho market this week, and they brought about 3d a lb. A shipment of oranges arrived this week, and met with a ready demand, realising as high as •10s a case. A small shipment of Fiji bananas is duo fo arrive in Christchurch day, and, provided they are in good condition they will soil readily as the market,is bare at present. Quotations aro as follows: Apples cooking Nelson per case 7s to 10s 6d; apples, Irish Peach, local, up to BJd per lb; apricots, dessert, per lb, 3Jd to 7d; apricots, cooking, per lb 2d to 2Jd; bananas, Cook Island, per case, up to 255; currants, black, per lb 3d to 4d; currants red, per lb Bid; currants, white, per lb 3d; cherries, dessert, per lb up to Is; chemes, oooking, per lb, 4d to 6d; gooseberries, per lb, 2d to 3d; grapes, firsts, per lb, la 9d to 2b 3d; lemons, 'Frisco, per case, 355; oranges, •Frisco, up to 40s per case; passions, byclney per case, 22s 6d; pineapples, Sydney, per'case, 80s;' pears, dessert per lb, 3d to I 3Jd; peaches, cooking, per lb, 2d; I dessert, por lb, up to 7Jd; ner lb. Id; plums, dessert per lb lid to -d, raspberries, per lb, Is 2d; tomatoes, dessert, per lb, 7id to 81d; beans, French, up to 5d I per lb; brct, per do,. Mis., Is; cabbages, \'f* out- ! doo™ per case, 10s 9d; cucumbers, ner lb, 10Jd to Is; green pel peok, Is ! Gd; lettui, per doz., 2 S lOd ;Tmarrows, pei I doz 5s- new .potatoes, per lb, Jd to jd, Ss* i~i. p« f E 1 ~„t 10s to 12s; parsnips, per doz., is ou, : radishes/per doz., Is; rhubarb per doz .s I to 3s; spring perdoz M, >P per doz., Is; spinach, per doz., a. dunedin. (special to the press.) " ' DUNEDIN, January 21. Only moderate supplies of stone fruit are coming forward from Otago Central and Canterbury. Plums aro coming chiefly irom the northern province. Supplies of tomatoe. have eased, and prices have firmed consider ably. .A few lots of new season s dessert apples have arrived, and these are bringing I (rood prices. Transhipments of American oranges' and Rarotongan bananas arrived , yesterday by the Mopess. A small shipment 1 of Fiji bananas is expected ex the Huron, and these should be auctioned on Monday The Tofua is due at Auckland on Monday, ' and her transhipments of fruit from the Islands should reach here on tho following Monday. Regular supplies of loganberries ! and raspberries are still coming forward. They aro not sufficient to tno market, and bettor prices are thus being obtained. Vegetables are meeting with a fairly good sale. Supplios of peas are plentiful, mostly ' from tho Canterbury Province. Potatoes are very plentiful, and prices are low-. Current wholesale prices aro as follows: Apples, Gravenstein 12s Gd to 14s per case, Beauty of Bath 4d to 6d per lb;'oranges, Californian navels, 20s per doublo case; lomons, Californian, 35s per double case; bananas, green, Rarotongan, 22s to 21s, raspberries, 8s to 9s per bucket; loganberries, 8s 6d to 9s; black * currants, 4Jd to 5(1 per lbi red currants, 6d per lb; cherries, extra choice blacks Is 4d to Is 6d, Florence Is 3d to 1b 4d; gooseberries, ljtd to 2jSd per lb; red plums, 4d to 5d per lb, dark 5d to 6d; nectarines, 6d to Sd 1 " per lb; Christchurch tomntoes lOd to Is, seconds 8d , to 'Sjd, local hothouse Is to Is 3d; cucum hors, 7s to 10s per dozen: strawberries, 10Jd , to Is per pottle for small, extra choice to Is 6d; ripe gooseberries, 3d; apricots, Gd to 7d per lb; peaches, cases 5s to 7s, crates to 6d per lb; cauliflowers, 6s to 8s per sack (choice only), others 3s to 4s; green peas, 2d to 2id; white turnips, Is per dqzen I bunches; swede turnips, 3s to 3s Gd per dump case; potatoes, new Peninsula, 3s Gd j to 4s per case of 501b; rhubarb, Id to 2d per lb; cabbage, choice, 5s to 6s per sack of two dozen, others Is to 3s; spring onions, up to 4d per bundle; lettuce, choice, to 5s per Sozen; parsnips and carrots, new season's. Is to Is Gd per dozen bunches: broad beans. Id to 6Jd per lb; French beans, 85<1 per lb.

CUSTOMS RETURNS. DOMINION OVERSEAS TRADE. (PRESS ASSOCIATION TELEGRAM.) WELLINGTON, January 21. The overseas trade of New Zealand, judging from the Customs returns for exports from the Dominion for the month of December, 1926, were £3,631,698, and for the year 1926 £45,275,575. For, the month of December, 1925, they wore £4,613,458, and for the year 1925 £55,262,272. Imports into New Zealand for the month of December, 1926, were £4,265,096, and for the year 1926 £49,789,563. For the month of December, 1925, they wero £4,641,751, and for the year 1925 £52,156,107.

ST. ANDREWS SALE. The fortnightly sale was hold in the St. Andrews saleyards on Thursday, wl'.'.'ii big ynrdings of fat lambs (ovpr 1300), store sheep, cattle, and pigs were keenly sought by a large attendance of farmers and fat lamb buyers. Milliken, with a nice yarding nt well-finished lambs, torped the market for fat lambs at 265. Values were: —Fat ewes (nged), 13k 2d to 16s 8d! fattening ewes (aged). Oh 2d In 10s sd; two-tooth ewes, "Is sd: wethers, 21s fid; cull lambs, 12s Id: fat lnmbs, 23s fid to •-2ti«; mixed sex stores, 22s fid; l fat young cow, £6; yearling bull, £2 10s; pigs, weancrß 20s to 265. One four-year-old Bpring-cart horso was pasted In at £l2 10». Various harness and sundries brought keen and competitive prices.