SHARE MARKET.

Press, Volume LXIII, Issue 19150, 5 November 1927, Page 16

SHARE MARKET.

WEEKLY REVIEW. The Share Market continues active, although the number of sales recorded show a slight falling off as compared with last week, which is to be expected in view of the approaching holidays. The tone of the market is good and prices are well maintained. Government Loans proved more attractive, buyers quoting freely for the 4} and •j'i per cents, at prices similar to those ) tiling last week. On the local market .•here"was a turnover of two parcels of £SOO +1 per cent. Bonds due 1938 at I'Pfi 10? and £96 7s 6d. Four and a half per cent. Stock due 1939 sold at £96 10s as against £9t> 7e Cd and £96 10s last week.

Fivo and a half per cent. Soldiers' Settlement Ixian Stock, due 1933, changed hands at £lOl 2s 6d and £lOl .">»: showing an easing on last week's turnover at £lOl 7s 6d. The Bonds in thi*; Loan were placed afc £lOl 7s 6d. There was a local turnover of, £IOOU :>i per cent. Stock due 1936 at £lOl Js. with further buvers art that figure, sellers at £lOl IDs.

In Municipal Debentures Ashburton Electric Power 5£ per cent, were sola at £99 10s, and Auckland Harbour Board oi per cent., due 1940. at £99.

Banking Section. In the Banking section most activity v. as displayed in Union Bank "rights" and "fractions" —the "rights" ranged from 52s to 495, later recovered to 535, and closed yesterday at 52s 3d—in all. some £64 were dealt in locally. The "fractions" were active at prices ranging from 9s 6d to Bs. The shares are available at £l4 2s 6d, buvers 5s below. Adelaides at £8 17s 6d: show a rise of- 3s on last week's sales—closing quotes buyers £8 17s, sellers £8 19s. Four hundred Australian Bank of Commerce shares changed hands locally st 32k 9d and 32s Bd, and more are available "at 32s 9d. declared buyers at 82s Bd.

Australasias changed hands at £l4 12s 6d and £l4 lis 6d, showing little variation on previously recorded transactions.

Commercial of Australia were firm with several sales at 28s lOd and 295. The preference had turnover at £7 Is €rl, closing quotations 6d on either tide.

Quotations for English, Scottish, and Australian show a little variation on those ruling last week. National of Australasia fully paids have demand at £l7 lis, buyers asking £l7 12s 6d—business last week was at £l7 10s. The £5 paid were placed at £8 14b 6d and £8 15s, showing further improvement on last week's sales up. to £8 14s. National of New Zealand are easier —late.sellers offering at £6 17s—buyers Is below—last recorded sales a fortnight ago-were at £6 19s 6d and £6 19*.

New South "Wales' opened with business at £44 2s 6d. but later advanced to £44 4s and £44 6s, with late buyers at £44 3s, sellers asking 3s more. There was a local turnover of 63 shares..

New Zealands had a recorded turnover locally of 2050 shares—the market ranging from 58s to 58s 3d. with late sellers at 58b, buyers Id below, Inst week's transactions moved between Zn 9d and 58s. There is firm demand for Queensland Nationals, cum quarterly dividend of 1\ n*r cent, at £8 os, but sellers are reticent. Insurance.

Insurance shares were not so active —Nationals remain unaltered with transactions at 80s; New Zealands i:re easier with sales at 38s 7d and.'t9*.l and more are on offer at 38s lid buyers at 38s 4d. Queenslands v.c'ie placed at 60s 9d as against 55s 1/d and 56s last week. Standards show no change at 61s.

Pastoral 'and Shipping. In fiie Pastoral Group Dalgetys' old cum dividend and bonus totalling 10 per cent, were dealt in at £l3 13s, aa advance of 2s on last week. The New Issue shares at £l3 2s also show a rise of 2a. Goldsbrough Morta changed hands at 47s 9d, and there is further demand at that figure, sellers at 48s.

The market for Shipping Company shares has been dull—recorded transactions were confined to Northern Steams fully paid at 14s 6d and I4s 9d, showing little change on last week; and P. and 0. Deferred Stock, cum dividend of 5 per cent, at £270. Quotations for Howard Smiths, Huddarta, and Union Steams show little nJbvenifiit.

Canterbury Frozen Meats have improved demand at £7 17s 6d, but sellers want £8 2s 6d, last week's business was at £7 16s 6<l. N.Z. Refrigerating fully paid shares which changed hands at 15s a week ago, are .now sought at 15s 4d, sellers asking 5d more. Partly paids, in which flier© was a local turnover of 2390 shares at prices ranging from 7s 9d to 8s Id, closed with buyers at 7s lid, sellers at Bs. - Miscellaneous. In Woollen shares business was confined to Wellington ordinary at £6 3s 6d, subsequent buyers offering £6 2s Cd without response. The market for Kainpoi has been dull. Taupiri Coals improved 9d to business at 26s 9d, late buyers offering 25s 9d, sellers asking 275. Westports have been in-steady demand, buyers offering up to-3os 3d without sellers quoting. Auckland Gas fully paids further eased to sales at 22s 7(1, 22s Bd, and 22s 6d—the contributing are steady with business at 17s. Ohristchurch fully paids, which reached 23s 3d a week ago improved this week to sales at 23s 6d and 23s 4d—the 5s paid fha res sold at 6s 6d—in all 920 shares were turned over on the local market. Brewery shares were regularly quoted, but the onlv recorded business was in Wards, at 37s 6d. Quotations for New Zealands and Staples show little change on last week, while t. Towns have improved demand, at 13s od. sellers at 14s 6d. Wilsons Cements remain unchanged with sales at 36s 6d; Milburn Lime • n 1 en Q«"T at 3Ts, sellers asking «j« 6d. Kauri Timbers sold at 24s 4d—the 9d a be!o . ng se,,ers 24s 3d > foyers

Aniongst the Miscellaneous Stocks the following sales were recorded, last weeks sales in parentheses:Auckland Amusement Park, 16s 6d (16 s 9« ; P°^T ]^ m 2s 6d (£54; g, 28 «>; »onagßy S Rope, 34s 3d S^ 0 "?; SoWetiV Motors 83s 9d to 84s 3d (go's); N.Z Drnes ante* Corporation, 8s 8d (8s 8d); San&S.%: ; ahs Oil In Gold Mining shares Kawarin«: 38*8?? S 4O - 10d; §to™K3 T farther sales cum dividend at 22s «J. and ex dividend of Is per share at

Yesterday's Business. Conditions were normal on Call. Large numbers of quotes were recorded, and fair business took place. . * '«•! toA and Bond Section 4* per tent. 1938 and J939 (tax free) Bonds l^%^S a^ Pj£imet bn y ers 8t ««5 7s 6d, the market being apparently i»M oJ *° "dfe* offer; 5} per cent. "33 Stock and Bonds buyers bid £lOl

Borough Council 4J per cent. 1083 Debentures were offered at £93 10s. For Christchurch Tramway Boaid 5* per cent. 1944 Debentures buyers bid £9B 10s, sellers asking £99 10s. In the Banking Section, five hundred and fifty Bank of New Zealand shares were sold at 58s 2d and 58s, the market closing at 58s sellers, no buyers. Union Bank rights sold at 52s 3d, 525, and odd parcels at 51s 6d. Union Bank fractions ranged from 9s to 8s 3d, closing quotations a penny on either side of last business at 8s 3d. United Insurance buyers advanced their price to £l2, but sellers' ideas of value were at £l4. Dalgetys had sale of the new issue at £l3, a rise of 2s on last reported business. Canterbury Frozen Meat were firmer, with quotations at buyers £7 17s 6d, sellers £8 2s 6d, and for the Preference buyers 96s 9d, sellers 101s. IST.Z. Refrigerating had business at 8s Id, but the market closed with sellers Bs. Wilson's Cement had sale of 100 shares at 36s 6d on a par with closing prices on Thursday. Colonial Sugars were easier, sellers offering to quit at £54, buyers offering £53 15s. Electrolytic Zinc Preference were sold at 325, two parcels of 100 shares changing hands. Henry Jones Co-operative provided business, at 38s for 100 shares, with more available at this price. A small parcel of N.Z. Drug Co. changed hands at 64s 6d. The Mining Market was quiet, Kawaraus being offered at Thursday's price without attracting buyers.

GENERAL MERCHANDISE.

GROCERIES. The wholesale grocary trade has brightened up, and there is a much better tone generally. Orders for October 25th account have been fairly good, and everything points to good, business! from now till Christmas. A steamer arrived on Thursday from Auckland with sugar supplies. Deliveries for the City were being, made yesterday, whilst country orders ex ship will go out to-day and Monday. One of the Vancouver packers of salmon managed to dispatch new season's pack te New Zealand very early this year, and this landed here this week. , It comprised new pack sockeye, cohoe, and pinks. Retailers who have purchased to arrive will in all probability get some, if not all, of their contracts delivered next week. Further parcels are tr> land by next Vancouver boat, due some time this month. Eggs being cheaper have caused an improved demand for dried fruits. The housewife generally takes advantage of low prices for eggs to start home' cooking, in place of buying cakes from confectioners' shops. Advice has been received from San Francisco that new season's Californian dried fruits for Lyttelton have been dispatched by steamer that cleared San Francisco a week ago. This ship calls at North Island ports, so will be delayed before discharging at Lyttelton. Storekeepers will not therefore get this fruit until about the first week in December.

Haricot beans to land about February are being offered this week at very low prices. The figure-being low, retailers should consider- the advisability of placing their requirements for next autumn business. Markets generally this week have been quiet, with nothing of importance to chronicle. ;

American new season's muscatels are not expected to land-till the first week in December, but this will be in plenty of time for trade purposes for Christmas'. Next week being Carnival Week, the wholesale grocery houses will be closed as usual on Show Day, and probably half a day.besides on one of the race days'

THE FRUIT MARKET.

CHRISTCHURCH. The market was well supplied with vegetables this week, but the demand was good, and prices for. nearly all lines wore firm. Cauliflowers are very scarce,' and prices are high for good quality lines. Old potatoes have risen in price from 2s Gd to 3s per sugar-bag. Apples are becoming scarcer, and good quality Sturmers are making up to 13s bd a case, and Jonathans up to 12s /6d Cooking apples are, in particularly short supply, and the best of. them are realising as much as 13s 6d a case. Locally-grown green peas and new potatoes aro more plentiful, with the result that prices for both lines have eased slightly. The first strawberries of the season came on to the market this week. They were of very good quality, and they made up to 7s 7d a punnet. Owing to supplies falling off, asparagus' was dearer this week. A shipment of South Australian Valencia oranges arrived in Christchurch this week. They sold well. Next week a shipment of Fiji bananas and also a shipment of Sydney oranges are expected to arrive in Christchurch. Quotations are as follows:—.

Apples, Nelson, per case, up to 12s 6d; apples, American, per -case, up to 20s; apples, local, per case, up to 13s 6d' oppes, Delicious, per case, up to 16s; apples, ■ cooking, per case, up to 13s 6d; poosebcrnes, per lb, 4d to 6d; lemons, Frisco, per case, 60s; oranges, Svdney, per case, up to 30s; oranges, 'Frisco, per case up to 50s; pears, dessert, per halfcase, up to 8s; pears, No. 2, per half-case, up to ss; strawberries, per punnet up to 7s 7d; tomatoes, dessert, per lb Is 9d to 2s 5Jd; tomatoes, No. 2, per lb up to Is 6d; walnuts, per lb. Is OJd; asparagus, per dozen bundles, up to 18s; beans, broad, per lb, 3d to 4d; beet, per dozen bundles, up to Is; cabbages, per dozen, ss; cauliflowers, per dozen, up to 20s*; carrots, per dosen, up to 2s; cucumbers, hothouse, per lb; Is Old; green peas, per peck, up to ss; leeks, per bundle, 4£d; lettuce, per dozen, up to 3s 4d; new potatoes, per lb, up to 8d; potatoes, per sugar-bag, 3s; onions, local, per lb, 2d; parsnips, per dozen, up to 2s; potatoes, per sack, 8s to 9s; radishes, per dozen, up to Is 7d; rhubarb, per dozen, up to 58 6d; spring onions, per. dozen, up toSls 6d; turnips, per dozen, ,up to 2sspinach, per dozen, up to Is 6d; swedes, per siigsr'bag, 2s.

I DUNEDIN. [THB PBEBB Special Sorrlce.] DUNEDIN, November 4. Business in the fruit marts has been fairly quiet during the week, owing to the short supplies of fruit. The consignments of American apples which came forward sold readily at high prices. A few cases of choice Stunner apples arrived from Canterbury. These brought high prices. The Manuka brought 48 cases of South Australian -oranges (each case containing 112 oranges). These wcie sold at 40s 6d per case. The Mannlca also brought a, small quantity of lemons. The Waikouaiti, duo on November 15th from Sydney, will bring another parcel of oranges. A email quantity of American Valencia ! oranges reached the market. American navels will not bo forward until December 22nd. The market is quite bare of supplies of Island oranges. Further supplies are expected about the middle of next week. A fair quantity of American grapes arrived ex Tahiti, transhipped at Wellington. These were sold at 30a per barrel. Island tomatoes also arrived ex the Tahiti. There were 600 to 600 cases in the shipment, and the supply affected the Bale of local and Ohristchurch hothouse-grown. A small lot of pears from Curistchurch cool etores brought very high prices. Prices of Christehurch-grown asparagus rang* about Is per hunch. Green peas are arriving in fair quantitioa fom.Canterbury. Prices range up to lod per Jb. Supplies of cauliflowers have slackened off and prices are very firm. There is a good demand for sound-hearted cabbages. New I potatoes are a, little more plentiful. Prices range round about Is 8d per lb. The absence of North Island new potatoes is resulting in high prices continuing for localgrown. Swede turnips are in short supply. i\ew white turnips are now reaching the market. Old carrots realise high prices. No new carrots are yet forward.

NEW COMPANIES. The "Mercantile Gazette" records the registration of the following new companies:— Wheeler and Thompson, Ltd, Kegd. as * private company Oct. 31st, 1927. Office: High street, Rangiora. Capital: £I4OO into 1400 shares of £1 each. Subscribers: Bangiora— E. Wheeler 700, T. Thompson 700. Objects: To carry on business of plumbers and tinsmiths, metal workers, etc. Perfection Ice Cream Co., Ltd., Regd. as a private company October 19th, 1927. CapiJrl Moo ° into 4000 snares of £1 each. Subscribers: Ohristchorch—W. 8. Callick 2000. Mosgiel—D. Mitchell 2000. Objects: To carry on the business of manufacturers and vendors of ice cream, ices, iced drinks, and all foodstuffs treated by cooling, frees-, «fc or Hits process.