COMMERCIAL ITEMS

Dominion, Volume 20, Issue 44, 16 November 1926, Page 12

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE

YESTERDAY’S BUSINESS AND PRICES

At the afternoon call yesterday sales were reported of New Zealand Express debentures at .£lOl 10s. and Bank of New Zealand shares at 60s. 6d. There was a good demand for Government stocks and bonds, with buyers of the 41 per cents, at £96 10s. and the 5J per cents, at £lOO 10s. Wellington Racing Club debentures were firm at £lO6. Bank shares were steady. There were bids of £6 19s. 6d. for National Bank, 60s. 6d. for Bank of New Zealand ordinary, 6s. 4d. for Bank of New Zealand rights, and £l5 ss. for Union Bank. Bank of New South Wales shares were on offer at £45 ss. New Zealand Guarantee Corporation ordinary shares were wanted at 10s. 3d. There was very little other business offering. There were bids of £6 lss. for Wellington Woollen, 51s. for New Zealand Breweries and 335. 9d. for Wilson’s Cement. Yesterday’s buying and selling quotations were as under:—

SALES IN OTHER CENTRES BY TELEGBtPH.-PE.ES3 ASSOCIATION Auckland, November 15. Sales: New Zealand Breweries (debentures), 245. 9d.: Band of New calami, 60s. 96.; ditto (rights), 6s. (M.; Electrolytic Zinc, 365. 3d.: Albumin, 4s. 6d.; Ballarat (con.), B<l., 9d., Bd.; Lucky Shot (con.), Is., Is. Id. Dunedin, November 15. Sale: National Mortgage, 70s. (odd parcel). Christchurch, November 15. Sales reported.—South British Insurance, 575. 6<1.; Howard, Smith, 325. fid.; Alburnia 4s. 6d. Sales.—New Zealand Breweries, 525. MAYFAIR RESIDENTIAL FLATS SHARES STILL AVAILABLE Attention is drawn to an announcement in this issue concerning Mayfair Ltd., which has now been registered. It is stated that over 40,(W shares have been taken up, and tenders will shortly be called for the first two blocks of buildings. As Mayfair residential flats will be the most modern in Now Zealand, in an ideal situation on The Terrace, Wellington, close to the middle portion of Lambton Quay, the venture is attracting much attention, and intending investors are advised to make early application. Plans may be inspected at the office of the organising broker, W. M. B. wtowbray, Seater’s Building, 115 Lambton Quay, from where the actual building site may be seen. THE PRODUCE MARKET It is difficult to say what effect the early settlement of the British miners’ strike will have on the butter and meat markets, but the probability is that the effect will bo good. It has already stimulated the wool market and should favourably influence other markets. The reports respecting butter are not very encouraging. The stored free butter, of which there appears to be still an appreciable quantity, is depressing the market, and the owners of this stored butter are advised to quit it as speedily as possible. To force this butter on the market will necessarily mean lowering the prices, which would cause heavy losses to the holders. One can therefore understand the hesitancy of the holders to force the pace, and yet while this stored butter is visible the now season’s butter does not get a fair chance. The controlled butter continues to be quoted at 150 s. for finest and 148 s for first grade, but not much is passing into retailers’ hands. With heavy stocks available. and with a falling market, retailers are naturally averse to doing more than biiv from hand-to-mouth. Tn November last year Now Zealand salted butter was selling at 2065. That was owing to tho shortage of supplies due to the strike of seamen. In November, 1925, the price was 2035. 'Lhe frozen meat market is also somewhat depressed. The spot market for lamb is weaker with a restricted demand. although there is no quotable change in prices. The mutton market is dull and prices show a downward tendency Canterbury quality selected brands of mutton, light weight, are quoted at 6 l-Bd., or 1-Bd. less than last week, and a farthing less than a fortnight ago. Other brands 571 b. to 041 b., are quoted at 5 5-Bd.. against 4Jd. a week ago and 5 7-Bd. a fortnight ago. Argentine chilled beef, which dominates the market, is nuoted at 3’d. for fores, which is also the ruling price'for New Zealand frozen beef, ox fours. Chilled hinds at 5 J ,d. and jd. above New Zealand frozen beef. ABRAHAM AND WILLIAMS LTD. Tho twenty-fifth annual meeting of the members of Abraham and Williams Ltd. was held at the head office of the company, 34 Customhouse Quay, Wellington, yesterday. The profit and loss account, including £14,207 14s. lid. brought forward from last year, showed a credit balance of £29,556 3s. 8d„ from which has to be deducted the interim dividend paid in April last amounting to £7.757 18s., leaving a balance available for distribution £21,798 ss. Bd. A dividend of 2j per cent, for the halfyear was declared on tho ordinary shares, which, together with the 21 per cent paid in April Inst, makes 5 pci’ cent, for the yenr, leaving a balance of £14.032 3s. Bd. to be carried forward. Messrs. 11. E. Beckett. E. II Binnoyi I’. S. j.arcomb and A. K. Simpson, the re(triim directors were re-elected. Messrs. Kutherfurd and Connell and Mr I’ L Aim wore re-appointed auditors for the ensuing vear.

Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ 8. d. 4J p.c. Ins. Stk., 1938 —— 96 15 0 . r 4 p.c. ditto, 1933 ....100 10 0 — 5} p.c. ditto, 1936 ....190 1() 0 4J p.c. Bonds, 1939 .. 96 10 0 * 44 p.C. ditto, 1938 .... 96 10 0 p.c. ditto, 1930 .... 97 0 51 p.c. ditto, 1933 .... 100 10 0 100 17 6 5'1 p.c. ditto. 1936 .... 100 10 0 — debentures— Well. Racing Club .. 106 0 0 —— N.Z. Breweries (stock) —— 1 r. 6 Ditto (bonds) 1 (i N.Z. Express —■ 102 0 0 BANKSNational of N.Z 6 19 6 —— New Soiitn Wales ... 45 r: 0 0 6 1 0 Ditto (rignts) 0 4 Union of Australia .. 15 u 0 15 6 G FINANCIAL— N.Z. Guarantee Corp. (ord., 8s.) 0 10 3 —. Well. Deposit & Mortg. — 0 10 4 Wright, Stephenson (ord.) —— 1 4 6 Ditto (pref.) —» 0 17 6 GAS— Auckland (paid) — 1 4 0 INSURANCE— National (cum.) - 4 0 0 TRANSPORT— Huddart-Parkor (ord.) —— 7 9 P. and O. def. stock - - - 251 0 0 WOOLLEN— Wellington (ord.) .... 6 10 0 —— TIMBER— Leviand-O’Brien . (cum.) —— o 3 3 w ■■ 1 8 0 . 0 17 0 BREWERIES— New Zealand 2 11 0 * - - 2 4 0 MISCELLANEOUS— Burns. Philp, and Co. ■ ■ 1 19 9 Electrolytic Zinc (ord.) —— 1 16 9 Ditto (pref.) — 1 17 9 Howard Smith —— 1 13 0 Mi 1 burn Lime & Cement 1 11 6 N.Z. Paper Mills (cum.) —— 1 0 0 Scoullar Co 1 o J) Sharland & Co. (ord.) — 1 9 Ditto (pref.) — 1 3 0 Wilson’s Cement (cum.) 1 13 9 —— MINING— Kawarau 0 2 7 —