SHARE LIST.

Press, Volume LXIII, Issue 19168, 26 November 1927, Page 12

SHARE LIST.

WEEKLY REVIEW. The Share Market has not been .so active this week, but the market has | been steady and the number of recorded sales has shown a slight fallingoil as compared with last week, but nevertheless there was a good weekly average. Government and Municipal debentures and bank shares proved most popular with investors. In Oovernment Loans the 4} per cents., du.: 1».« and J<J39. with sales at £% 10s and £96 15s. late buyers oilering ASM) Ws. met with little response. Five per cent. Stock, due 1930, changed hands at £9J. Five and a half per cent. .Soldiers Settlement Loan Stock, due 1933, shows little change, with several transactions at £lOl .Is. Five and a quarter per cent. 1927-11 Stock has demand at iJB ]ss sellers asking 10s more. Auckland Harbour G per cent. 19-11 sold at £103; Auckland City 5} per cent.. 1910, at £96 10s; Auckland Hospital, -A per cent., at C9B 10s, and a large parcel, of Christchurch Tramways. o', per cent., 193-1, was released at .£'](>■">. Banking. In the Banking Section Adelaides and Australian Hank of Commerce show little movement. Australasias are available at £l4 10s (last business figure), buyers at £l4 12s Gd. Commercial of Australia had dealing nt 2<7s 2d and 295, as against 29s 3d to 29s bust week, and more are on offer at 295, buyers 3d below. Unsupported sellers of the preference want £7 Is, the figure at which business was done last week. English, Scottish, and Australian changed hands at £7 14s, with lato unsupported sellers at £7 13s Gd. National of Australasia fully paid shares were Is up with turnover at £l7 12s- closing quotes were buyers £l7 fls, sellers £l7 10s. The £5 paid at £8 13s Od and £8 14s also show j improvement on business last week. | National of New Zealand, which sold nt £0 16s Cd last week, roso to sales at £6 17s, £6 18s, and £6 19s this week. Now South AY ales, which rase to £l4 Lis a week ago, have since been turned over at £45, with lato enquiry at £ls 7s fid, sellers at £ls 15s. New Zealand were placed at prices ranging from of>s 3d to 59s 6d, as against 58s 3d to 59s 6d last week. Thero was a local turnover of 300 shares. Union Bank of Australia new first instalment paid had 'dealings at £.", 12s fld and £5 13s 6d, and the old shares at £l4 10s. Insurance and Pastoral. In the Insurance group New Zealands advanced fid to business at 39s i6d with further buyers at 39s 9d, sellers at 40s 3d. South British are also stronger with dealings at 56s 9d—closing quotations 3d on either sido. Standards at 62s show a rise of Is on last recorded sales. One hundred Dalgety and Co. shaves were turned over on the local market at £l3 ex dividend and bonus amounting to 10 per cent. Goldsbrough Morts show an easing tendency with sellers at 47s 6d, buyers 6d below: last week's recorded business was at 47s 6d. Two hundred National Mortgage shares changed hands locally at prices ranging from 72s 6d to 71s 9d, as compared with 72s Gd and 72s 9d last week. For N.Z. Loan and Mercantile ordinary stock there are steady buyers at £94, hut sellers are not quoting. Shipping. For Howard Smiths, which sold at 80s 3d last week, recent unsupported sellers were asking 29s 9d. Huddart Parkers ordinary have improved demand at 48s 6d, but sellers are reticent, and no sales have been reported for the past fortnight. Northern Steams show little change with sajes of the fully paids at 14s 6d and the partly paids at 6s 9d. Union Steam buyers are offering 20s 3d without attracting sellers — business last week was at 20s l^d. Miscellaneous. Dealings in Frozen Meat shares were confined to N.Z. Refrigerating partly paid at Bs, 8s Id, and 8s 2d—the local turnover being 1200 shares—with further buyers at 8s 2d, sellers at 8s 3d. The fully paid have demand at 16s 9d —which is 9d above last week's reported business—sellers at 17s. Business during the week was at lQs 6d. Kaiapoi Woollens ordinary fully paid show improvement with sales at 8s 5d and 8a 6d, and more are wanted at the latter figure, sellers at 9s. Wellington ordinary remain unaltered with transactions at £6 45.. Taupiri Coal ordinary wero released at 268 3d ex dividend of Is per share. Auokland Gas shares improved tlightly—the fully paids had dealings at 23s 2d, and the partly" paid at 16s 9d, 16s lOd, and 16s lid. * Christchurch fully paids rose 3d to business at 24s 3d —tho 5s paid sold at 6s 6d and 6s 7d —in all, 620 shares changed hasds. The Brewery market has been dull—the only reported business being in New Zealands at 40s, which shows a drop of 4s on highest recorded sales last week. Quotations for other brewery shares show an oasing tendency on last week. Amongst the Miscellaneous Stocks tho following sales were recorded, previous business being shown irr parentheses: —British Tobacco 54s (56s 9d); Colonial Sugar £54 (£53); Electro Zinc (pref.) 32s (325); Guarantee Corporation 8s lOd (8s 9a, 8a lOd); New Zealand Drug Co. 66s (655); Sanford Ltd. 20s; Sharland and Co. 20s; Taranaki Oilfields 10s 6d, 10s lOd (10s 3d to lis 3d). In Gold Mining shares Alburnias remain unaltered with business at 2s; Ohinemuris at 6s 4d are fractionally weaker; Mt. Lyells cum dividend changed hands at 28s 3d as against 28s 2d a week ago. Y?:-jTERDAY'S TRANSACTIONS. Business was quiet yesterday and Jbidding for most stocks spiritless. In the Stock and Bond Section: Four and a half per cent, (tax free) Stock and Bonds were wanted at £96 10s, but the market was bare, none of the issues being offered; other issues were unaltered on Thursday quotes. In. the Banking Section: Australian Bank of Commerce were offered at 32s Bd, without attracting, buyers. Bank of New South Wales were firm, buyers offering £45 7s 6d, a rise of 7s 6d oh last recorded business—sellers offered at £45 15s. P. and O. Bank entered the buying list at £lO ss, without attracting sellers. Union Banks were unaltered, quotes being buyers £l4 8s 6d, seUers £l4 12s 6d. In the Miscellaneous Investment Section New Zealand Insurance were firmer on buyers' quote of 39s 9d, sellers 40s 3d; Christchurch Gas had sales of 224 at 24s 3d, and, more being wanted at that price, buyers stayed in at 24s 3d, sellers 24s 4d; New Zealand Breweries recovered slightly to buyers 40s 3d, sellers 42s 6d; an odd parcel of Electrolytic Zinc ordinary shares changed hands at 30s 7d, market closed tuyere 30s 7d. sellers 31s. For the 8 per cent, participating preference shares in this company, buyers bid 81s 6d, sellers 325. Goldsbrough, Mort.

had biivers at 475, sellers 4.s Gd, and for the'new shares in this company 4o» lOd was bid by buyers, sellers offering at 46s 3d. Dalgety shares are steady at £l3. Fifty National Mortgage were turned over at 71s 9d, a drop ot 3d on last recorded business, sellers offering further at 72s 3d. Huddart Parkers were fractionally firmer, with buvers at 4Ss Cxi. a rise of 2d on Thursdays quotes, but were unoffered by selNew Zealand Refrigerating Company had some attention at 8s 2d—450 10s'paid share-: changing hands at that figure—market closed buyers 8s 2d, sellers 8s 3d; New Zealand Drue Company were again firm, and an odd parcel changed bands at Cos, the market closing with buyers 61s 9<l. no sellers. Mt Lvells uero slifilitlv firmer, with buyers' at 28s 3d. sellers 23s Cd. GENERAL MERCHANDISE. (,'KOCERIES. Busim-.-* still contimifs to "look Jip," ns it i- ti-rmi'il in the tradn. Thero is n much liftter feoliii? i" both wholesale and retail circle*. The pulilic are spending better than they were last month, and this is 'being felt by the wholesale _ houses. Fair orders have already lieen plnced for various lines fur December delivery, and there is an optimistic feeling in the trade that the coming Christmas tratlin? will be of good \olume. Deliveries for December IMth account will be. as usual, much earlier next month. The dates will be available shortly, ami if they are in keeping with past practices, country deliveries should be in the third week in December, with towns two days after. The cleaner Abrazo has advanced fid a dozen, due to increased duty. New .seeeb'd raisins, also new oil-blonched from fian rranci.ico, are on the coast, and should be available nt an early date for local delivery. Fresh supplies of Cape dried apricots have arrived, and are meeting with a good demand. Further parcels are due to Innd before Christmas, and stores that have orders placed ex ship should have the same delivered before the end of December. The tea market in Colombo still continues firm, with every prospect of so doing for a long time yet. Importers here are finding nearly every shipment costing an increaso on the last. Somo well-known lines of bulk tea have been advanced recently, and this was inevitable, in view of increasing landed costs. Factory butter dropped one penny per lb this week. This will let the value of dairy and separator butter down by one penny petlb. .Stniplics of the latter are fairly plentiful, and some country stores arc putting consignments into freezer for winter trade. The bacon market is worth watching at the moment. Cutting of prices by at least one factory in the North Island has lowored values there (in some parts) by id a lb. It is reported that fierce competition for the business offering has forced lower quotations and brought out a cut of id a lb. The London market for linseed oil this week is on a par with last week's quotation. Resin still shows very low value, and from nil reports it is nt tho moment good buying. The candle trado is neglected, and with summer time now on, sales aro.getting into very small compass. A new pack of tobacco in loz packages is being placod on the market. It is an English make, cut plug, and should find a ready sale. ' As is usually the; case, it will come slightly dearer per lb owing to the smallness of the package. A shipment of a new line, namely, cellophaned packets of stuffed dates with brazil nuts, has arrived, and sold at an unexpected rate. Tho whole arrival has been cleared, and importers have cabled for' fresh supplies. This line, which retails at an attractive price (9d), looks as if it will establish itself as a standard line, and be a regular seller in future, in tho same way as muscatels and almonds. The cheese market is active, and prices are fairly sottled. The export trade is in full swing, and local quotations to storos are regulated by values in London for the lino. It is rumoured that the fishing in Norway for the sardine-trade (aild, brisling) has produced very small supplies, and that quite a lot of packers will not be able to execute in full orders on hand. Pro rata delivery will bo made by some packer's, whilst there is a rumour that other packers will not be able to ship at all. Buyers here, who have purchasod "to arrive," should make a point of finding out (if delivery has not been made) when, and also whether, they can expect delivery. Desiccatod coconut, which has been at favourable prices, has started to movo upward. • Quotations locally have advanced 2J per cent, and the market looks like further advances. The market for sago and tapioca in Singapore still remains practically stationary. This week's cabled quotations show a decline of threepence per cwt, which is so small as not to be of any influence on the market. AUSTRALIAN CONDITIONS. Tho October monthly summary of Australian conditions issued by the National Bank of Australasia, Ltd., states:—' A general survey shows little alteration in tho position as a whole during the past month. .Trade has not shown its usual spring-time gains, and unemployment is reported to bo a little more general, also Australia's great equine sporting carnival, the Melbourne Cup week, was not quite so well attended as in past years, and less money was put out on wagers on the various events; but ordinary trade expenditure shows little decline, and Borne well-equipped retailers are showing satisfactory turnovers. Retail prices of food and groceries show a small increase—about one per cent.—for September, making the woightod average for the thirty principal towns in the Commonwealth 57 per cent, above the index number for July, 1914. The trend of trado indicates that many people havo taken stock of tho season's prospects, and decided to reduce their spendings, particularly in non-eßSentials. It is expected that this, tendency will be intensified as the season progresses, though it is very difficult to forecast nearby trading conditions as they.may be considerably governed by governmental policy. The figures relating to overseas trade show no moyement such as was expected in view of the seasonal prospects and the financial position and the unfavourable trade .balance of the past year, to which £13,485*000 has been added as a result of the trade of the_ three months ended September 30th. The policy of the banks has been favourable to a reduction in the flow of imports, but the selling pressure from the other' side ot the globe is strong and insistent, and traders in Australia find that most lines can be distributed at a profit. Therefore until the goods for the Christmas trado have been landed there may be little sign of a decline in shipments to Australia. Exports of merchandise are holding up well, being £5,000,000 higher for this than for the corresponding quarter of 1926, due to substantial increases in shipments of flour, wool, skins, and hides. Butter and metals are down. Gold exports continue, £2,160,731 being shipped during the recent quarter, and £11,373,771 during the previous twelve months. In New South Wales pastoral and agricultural conditions show further improvement owing to widespread rains, which are quite sufficient for all present requirements over a wide area. The butter output is increasing rapidly, fodder crops are making good growth, and in somo of the districts where the foed for sheep and cattle was eaten out the grass is now making a good shoot. Prospects for the coming wheat harvest are also very much better than thoy were a month or so ago, but the earlier damage to the crop will result in a lighter harvest. AMALGAMATED TEXTILES. In their annual report, tho directors of Amalgamated Textiles (Australia), Limited, stated that anticipations with regard to the success of the company's operations have not been realised during the past year. Our Albury correspondent telegraphs that _ the mill at that centre was not able to continue production of 60 pieces a week, the average for the first six months being 51 pieces a week worked. The Orange mill, which was a duplicate of the worsted section at Albury mill, had only averaged 14 pieces a week. The market for wool tops had been stagnant for tho greater part of the year, consequently the combing section during that period was run at a loss. A change of management, beginning in July, was made at an inopportune time, in that the company practically missed the whole of the season's buying. In spite of these drawbacks, said the directors, the results over a three-months period showed a loss of only £SOB. Production had since gradually increased, and for the first time the whole plant at both Albury and Orange was in first-class order, and nil running. The directors could confidently claim that the'eompany was in a position to produco goods profitably, and if orders coqld be secured to keep the plant fully occupied, the financial result would be satisfactory. About 200 designs and colourings had been produced at the Albury and Orange mills. FROZEN MEAT. Dalgety and Company, Limited, have received the following cablegram from their London pffice, dated' November 24th:— I Frozen Meat—Market unchanged.