SHAREMARKET.

Press, Volume LXIII, Issue 19144, 29 October 1927, Page 12

SHAREMARKET.

WEEKLY REVIEW

Tti'j Share .Market continues active nnd ;i large number of sales were rerorded 'in the -Metropolitan Exchanges :ii prices for tin- most pan in favour <>f holders —the tone <>l tin; market is good and buyers arc in .strong evidence, especially for tin' bettor class of investment stork. All affiliated Exchanges ihtc i lose"! on Labour Day. In (iijvcrnmont Loan-- 11 per cent. Moek line 193-S shows an advance of ■I-. M. with turnover at £!>6 lO.s. The Stock *lue I!'3'' rose -3s to business at £!MJ 1(K The Treasury aiivi.-e- thai ■> (>er r*'iit. Stock and I'ouds due November loth, 1927. may. at the holder's option. be renewed to loth, 1933. at o! per cent. Five ami a quarter per cent. Stock due J'»l'7-!l remains unaltered with turnover at. L't'S 112s (kl. Five am! a half per cent. Soldiers' "v-ttlfmeiit Loan Stock due I'm eased 2s 0(1 to sales at £lOl 7s (id. at which figure the lionds were also turned over. Five and a hall per cent. Stock due 1936 opened with business at £lOl os. but later drop|»ed to £lOl. Bonds due 1930 remain unaltered with busine-s at £lOl 7, e.i. Banking Section. In the Banking Section the announcement of the terms of the Union Bnnk .New Issue caused a furtlier weakening in the price of these shares, which are now offered at £l4 7s fd—no buyers. The shares cum. rights ehanired hands a fortnight ago at .£ll ISs C.I to £l4 17s (jd. Lite rights to one new .share for every 7 held have been freely dealt in at prices ranging from 51s to 5Gs 6d, easing to 51s 0d yesterday—the market closing: buyers ols, sellers 5:25. Fractional rights opened with business at 7s, and rose to 9s 6VI and 9s 3d. Adelaides rose :2s io sales at £8 14s fid, with further demand at that figure, sellers asking £8 lCs. Two parcels of Australian of Commerce shares were sold at 32s 9d. which is on a par with highest recorded sales last week. Australasias have firm demand at £l4 Us, with sellers holding for £l4 12s 6d. at which figure sales took place last week. Commercial of Australia ranged from 28s Pxl to 28s lOd. as against last week's range from 28s Id to 28s 6d On the local market there was a turnover of 900 shares. The preference have improved demand at £7 Is, but sellers want £7 2s 6d. English, Scottish, and Australian all had business at £7 13s, subsequent buyers quoting £7 lis 6d, sellers ask- ' ing £7 13s 6d. National of Australasia are firmer, and sales of the fully paid took place *. at £l7 10s—a rise of 3s on last week—and of the partly paids at £8 13s M and £8 14s—as aaainst £8 12s and £8 13s last week. These shares are cum. dividend of 5 per cent. Payable on November 30th. New South Wales are easier—sellers now offering at £44 2s 6d, buyers at £43 los—last week's transactions were from £44 15s 6d to £44 10s. Dealincs in New Zealands moved between 57s 9d and 58s—as compared with 57s 6d and 57s 9d a week ago—the market was particularly active with a local turnover of 1600 shares. Queensland Nationals, cum. quarterly dividend of 21 per cent, pavable on November 17th, have enquiry at £8 ss. but sellers are reticent. Insurance Group. In the Insurance group the market was not so active as last week, but Nationals, New Zealands, aiid South British accounted for a fair amount of business. Nationals were placed at 80s, which is on a par with highest sales last week, and late unsupported sellers are offering at that figure. New Zealands opened the week with sales at 39s 3d, but later eased to 395, at wh h figtiro more are available, .declared b "y e n*? at 38s. On the local market 300 shares changed hands. South British cum dividend were a shade firmer with sales at 58s, 58s IJd, and 58s 3d. Dividend was payable on 27th instant. Pastoral. In the Pastoral section Dalgctys old at £l3 lis are on a par with highest recorded transactions last week—the New at £l3 are Is below closing sales last week. Goldsbrough Morts are fractionally stronger with buyers at 47s 6d for the old shares and 46s 6d for the Now, sellers responding at 49s 9d and 46s 9d respectively. National Mortgages are in steady demand and buyers havo improved their offers to 72s with sellers now asking 80s. N.Z. Loan and Mercantile ordinary stock is firm with buyers at £93 10s, recent declared sollers at £97 in s . Miscellaneous. Shipping Company shares were freely quoted, b,ut reported turnover was confined to Northern Steams at 14s 9d and 14s 8d for the fully paids, and 7s for the partly .paids. Quotations for Huddart Parkers and Union Steam preference show little change on last week. Howard Smiths are now available at 80s Cd, buyers offering 30s. In Frozen Meat shares N.Z. Refrigerating fully paids were placed at los, with closing quotations Id on cither side, 'rtio partly paids aro on offer at 7s 9d—highest recorded business figuro last vvcek—buyers Id below. The Market for "Woollen Company shares has been quiet. Pukemiro Coals remain unaltered with business at 60s. Taupiri ordinary cum dividend of Is per sharo are sought at 26s without response—last week's sales were at 265. Auckland Gas shares are fractionally weaker with turnover at 22s lOd, as against 22s lid last week. Christehurch fully paids changed hand at 23s 3d, closing quotes 3d either wav, and the partly paids at 6s 6d and 6s* 4d. 1250 shares wore placed locally. Business in Brewery shares was confined to Staples at 38s 6d, and the market closed buyers 3Ss 3d, sellers 39s 3d. Buyers offer for Crowns and New Zealands show little change on last week. Wilsons Cements remain unchanged, with transactions at 36s 6d, and mora are wanted at 3Cs 3d, sellers asking 375, Milburn Limes had improved demand during the week at 30s 6d, but sellers are not offering. Kauri Timbers were placed at 24s sd, and 24s 6d, late sellers quoting 24s 3d, buyers 3d below. Amongst the Miscellaneous Stocku the following ales took place (last week's sales in parentheses): Auckland Amusement Park 16s 6d (16s 3d, 16s 6d). British Tobacco 58s 6d (58s tkl). Colonial Sugar £54, £54 1-S (£S3J £53 395). Electro Zinc (prefs.) 325, 31s 8d (31s 8d to 30s 6d). Holden'a Motors 35s (355). N.Z. Drugs 64s 3d (645, 64s 3d). N.Z. Guarantee Corporation 8s Si (Rsod, 8s Gd). Taranaki Oil 8s 6d (7s 9d). Whitcombe and Tombs had local turnover of 485 shares at 67s 6d as against last week' transactions at 68s and 67s WThe only recorded business in Gold Mining shares was Waihi at 22s 53 sa

against --s 4d, -.s "id. arid 'Jl's 6d r M-eck ago. Quotations for Mr. Lycil; show little movement. Kawnraus an fractionally stronger. Yesterday's Business. There wa.s a lair turnover u( stock-yei-ierday, ami all priet-s were iimi.ijU: nu purtuular -stuck showing outsuuiuinn feature. For jJ per cent. KM .-tuck and ootids hellers raised their prices .3i 10 £lOl 1-Js 6d, lui.veis blading £lOl 3s. a sal*: taking place. .Stock at i'lUl 7s Ul. Otlrer issues were imalu-ied. In the Uiukiiiji section, Lom'inercia! Hank ot Australia held with .sales at 28s lOcl, but the demand did not exhaust the market at that price, sellers offering lurther at 2Ss Hid, buyers 28i 8(1. National Hank of Australasia, l'ullv paid, were buyers JL" 17 I'.s, sellers CI7 lis. For the "iio paid shares 111 this bank LS lls was paid tor 20— closing buyers tS Ms, sellers .US M--liTi. Bank of New Zealand—loo shares wero .sold at 57s l()d, and 200 at ods closing 37s ik\ buyers, 37s lid sellers. Sellers offered Union Hanks at CM 7s lid. no buyers quoting. Rights to the new shares were turned over at Tils, •325, 5135, and 51s Od—market closed 51s buyers. 52.S sellers, whilst Fractional Rights were sold at 9s lid and 9s 3d, closing 9s 3d buyers, 9s Od sellers. In the Miscellaneous Investment Section, Dalgety and Co. changed hands at £l3 lis for the old shares—market closing buyers £l3 8s Ckl, sellers £l3 12s. New shares in this company were sold at £l3, closing £l2 19s buyers, £l3 Is sellers, Goldsbrough More were firm with buyers 47s 6d, sellers offering at 47s 9d. New shares in this company closed buyers 40s ixl, sellers 46s 9tl. ' P. and O. Deferred .Stork declared a dividend at the rate of 10 per cent. per annum for the half-year. The stock, which has been declining for some weeks, closed buyers £260, sellers £275 per £IOO worth of stock. New Zealand Refrigerating Co. bikers bid Ms lid, sellers holding for 15s Id. For the 10s paid shares 7s 8d was offered by buyers, sellers 7s 9d. Taupiri Coals have intimated that they will pay an interim dividend of Is per share on November 12th This dividend is 3d per share greater than the corresponding interim dividend of last year. Buyers offered 26s without sellers' quoting. Christehurch Gas had sale of 450 .shares at 23s 3d, leaving buyers offers unsatisfied at 235, sellers requiring 23s Crown Brewery buyers again advanced their offers to 13s 3d; sellers aro shy and require Ms 3d. 100 Staples Brewery were sold at 38s Od, the market closing buyers 38s 3d, sellers 39s 3d. Buyers of Colonial Sugars offered £54 2s 6d without sellers appearing. Roma Oil announce a new issue of 22,250 shares to existing shareholders in the proportion of five for every sixshares hotel at par. Conditions are 5s on application, 5s allotment, and 5s on December 27th, and 5s on Januarv 31st, 11>28. GENERAL MERCHANDISE. GROCERIES. Business during the week has been fairly good, due mostly to monthly deliveries. Prospects for next month seem quite bright. The early arrival of Carnival Week should nßsist business in the town, but not in the country. The new soasnn's goods are beginning to show up. The Ruapehu has on board new season's Maconochie herrings in sauce as well »B fresh herrings. Prices are firm for these lines, and retailers who have not booked to arrive should look np their requirements. The passing of the Summer Time Act is going to increase the sales of canned fruits, fish, etc., as the more time given to outdoor life, the greater the consumption of tinned foods. New season's packeted muscatels and nuts are to land ex Ruapehu, and new figs are on board the Almkirk, due at Sydney on November Int. In this ship is the first parcel of new Creek Amalia currants. Most of these lines have been sold ex ship, but stocks will be available for store deliveries in the usual way. Sales of candied peel this season aro expected to bo smallor than last year. Many confectioners have ceased to use peel, as they have found that it can be left out, and in most cases is nover missed by the public. New season's Hawaiian canned pineapple has landed, and is meeting with a fairly good demand. The price of sardines (sild and brisling) is very Arm, and from a careful survey o* the position it appears as if prices will be firm for the whole of the season. The recent summer catch in Norway was short; consequently a lightor pack was the rosult. Holders of stocks are keeping prices firm, and lower values aro not anticipated until after noxt summer's fishing. Rangoon vice, which is a good seller on this market, is reported scarce and dear. The recent rise in the price of this commodity in Rangoon has placed Australian dressed rice in a favourable position. At present the latter is by far the better value, and it is worth retailers' attention for reasonable requirements. Walnut halves and pieces, which were recently quoted at low figures, are reported as advanced 10s por cwt, with a firmer market very possible. So far there is no word of any new season's Californinn dried fruits landing, hut these should be on steamers duo in New Zealand about the middle of November. NEW COMPANIES. The" "Morcantile Gazette" records the registration of the following new companies:— Saunders and Co., Ltd. Regd. as a private company October 12th, 1927. Office: Cr. Barbadoes and St. Asaph streets, Christchurch. Capital: £B3OO into 8300 shares of £1 each. Subscribers: C. M. Saunders 8299, E. M. Saunders 1. Objects: To acquire and take over business of Saunders and Co., cordial manufacturers. White Diamond Cabs (N.Z.), Ltd. Regd. as a private company October 13th, 1927. Office: 155-7 Gloucester street. Capital: £SOOO into 5000 shares of £1 each. Subscribers: M. J. Dickinson 667, W. J. M. Dickinson C 67, G. Dickinson, jun. 666, G. Dickinson 3000. Objects: To carry on business of taxi proprietors, etc. E. J. Gravestock, Ltd. Regd, as » private company October 14th, 1927. Office: 155 Hereford street, Christehurch. Capital: £SOOO into 6000 shares of £1 each. Subscribers: Christehurch —E. J. Gravestock 2000, W. A. White 1100, A. T. Donnelly 1100, AV. S. MacGibbon 300, F. R. Busholl 500. Objects: To carry On business of theatrical and musical agents and caterers for public and private amusoments, etc. Dominion Tobacco Co., Ltd. Regd. as a private company October 18th, 1927. Office: 170 Featherston street, Wellington. Capital: £IOO into 100 shareß of £1 each. Subscribers: Wellington—J. Sutherland, K. L. Cousins, A. H. Barnett, and E. W. Guise 25 shares each. Objects: To carry on the business of growers of tobacco, manufacturers, planters, and general incidental. Increase of Capital. J. W. Barraclough, and Co., Ltd., Christchurch. Capital increased from £2OOO to £3OOO by creation of 1000 new shares of £1 each. Resolution September Ist, regd. October 21st. CLEARING SALE. Jonca, ilcCroetie Co., Ltd., held a clearing sale, on the premises, McMillan avenue, Cashmere Hills, on account of Mr Maurice Davis. The following were among the prices realised:—Carpet £27, rug to match £3 oe, oak carver chair £S 15s, hall table £l7, oak desk £6, sideboard £45, dining table £35, hall seat £lO, carpet and rods ,£l2, billiard table £52 10s, epergne £5, mahogany cabinet £l9 10s, cupboard £0 10s, runner £7 12s (id, linoleum £5 ss, three rugs £5, club couch £ls 10s, secretaire £ls, mahogany mirror £2 15s, two seats £4 10s, two single bedsteads £ls, two bedsteads £ls, linoleum EG ss, two candelabra £5 ss, coalvase £2 123 6d, coalva3e 27s 6d, secretaire £lO 10s, occasional table £2 10s, occasional table £2 2s 6d, occasional table £-1 ss, vacuum cleaner £4 2s 6d, paper rack £2 10s, five easy chairs £l6 15s, old jug and basin £3 15a, "two old gravy boats £1 Is, sauce boat lis, two mugs 16s, teaset £2 7s 6d, teaaet £2 2s 6d, nig £5. SYDNEY LOAN UNDERWRITTEN. LONDON*, October 27. A £-2,000,000 City of Svdney loan in 51 per cent, debenfcuree at 93J has been undernittexL,