PRODUCE & MARKET REPORTS FROM DAY TO DAY

Evening Post, Volume CIX, Issue 38, 14 February 1930, Page 12

PRODUCE & MARKET REPORTS FROM DAY TO DAY

BRISK WEEK

STOCKS AND SHARES

BANKS POPULAR

"Evening Post," 14th February, Business lias been brisk ou iiic Stock Exchange during the present week, ;uul the tone generally ha.s been healthy. Bank shares have .been in keen demand, and a large number of parcels have changed hands at improved, prices, compared with prices.'which have ruled during the past few weeks. Government stock has appealed to a number of investors, and sales recorded during the week were the following: New Zealand Inscribed Stock, u l/* per cent., 1933, £9S; 4% per cent. Bonds, 1038, £99 us; New Zealand Government Inscribed Stock, 5% per cent., 1027-41, £97; 5% per cent. War Bonds, 1933, £99; New Zealand Government Inscribed Stock, SVz per cent., 1936, £99 2s 6d. There was some demand for local body debentures, but the only sale of the week was a parcel of Wellington Harbour Boards 5Vs per cent., 1940, which changed hands at £97 ss. VTanganui Borough, 5% per cent., 1945, were in demand at £99 10s and £99, but there were no sellers at either figure. Wellington Racing Club debentures were firm at £106 10s, but holders showed no desire to unload. There were sellers of Gisborne Sheep Farmers' debentures at £96, but buyers refraiued from qtioting. Golden Bay Cement, A. debentures were in demand at 15s, but holders were asking 17s' 6d. As indicated above, bank shares were in popular demand, and a large number of sales were recorded during the week. Parcels changed hands as follow: Commercial Bank, £1 2s 9d, £1 3s, £1 3s Id, £1 3s fld" National Bank of Australasia (£10), £15 2s 6d, £15 ss, £15 6s, and £15 7s 6d; National Bank of Australasia (£5), £7 10s, £7 11s 6d, £7 13s 9(1, £7 14s Gd; Union Bank, £11 ss, £11 15s, £11 16s, £11 16s Od, and £12; Commercial Bank (rights), 2s, 2s 3d, 2s 4d; National Bank of New Zealand, £6 4s, £6 fls, £G Cs; Bank of New South Wales, £39 10s, £40 lOs, £40 15s, £41, £41 7s 6d; Australian Bank of Commerce, £1 4s lOd, £1 4s lid, £l 6s; Bank of New Zealand, £2 16s 4d, £2 17s, £2 ISs 6d, £2 17s 3d, £2 18s 8d; Bank of Australasia, £11 10s, £11,12s Od, £11 15s, and £12; E-.S. and A. Bank, £6 16s. Sales of insurance shares look place as follow: New Zealand Insurance, £2 2s, £2 2s 3d, £2 2s 6d; South British Insurance, £2 18s 6d, £3. National Insurance were on offer at 15s 6d, and Queensland at £2 14s, but there were no buyers. In the. financial and stock and station section, the following sales were record-, ed: Dalgety and Company, £12 ss, £12 9s 6d £12 10s; Goldsbrough Mort, £1 12s 3d, £1 13s od,. £1 13s 9d; New Zealand Guarantee Corporation, 8s 2d; Wellington Investment T. and A. were sought at 10s lid, but holders did not respond. Wellington Trust and Loan were on offer at £7 Is od, holders not quoting. Wellington Deposit and Mortgage were sought at 9s 6d, but holders were asking 10s 6d. There was a sale of Waipa Coal at 14s. Westport-Stoekton (ord.) and WestportStockton (pref.) were to be had at 3s Id and 4s respectively, but buyers were lackBusiness in gas shares took place as follows: Auckland Gas, £1 3s Bd, £1 3si9d: Auckland Gas (contributing), 17s 6d; Wellington Gas (ord.), £1 10s 9d; Christchurch Gas were in demand at £1 js oa, but holders were not tempted. In the meat section, sales took place as follow: New Zealand Kefrigerating (20s paid), 10s 7d, New Zealand Refrigerating (10s paid), 4s lOd. Gear Meat, £1 18s. Wellington Meat Export (ord.) were m demand at 3s 9d and 3s lOd, but holders refrained from quoting. . . In the miscellaneous section, tne loilowing sales were recorded: Mosgiel Woollen, £7; New Zealand Breweries £4 4s £4 os, £4 5s 3d; Colonial Sugar, £44, £44 2s 6d, £43 15s; British Tobacco Company, £2 2s 9d, £2 3s, £2 3s 3d, and £2 3s 6d; Wilson's Cement £1 19s. SYDNEY STOCK EXCHANGE. SYDNEY, 13th "February. ■V cessation o£ New Zealand buying of Australian, stocks has led to an easing up of the prices of bank shares on the Sydney Stock Exchange. Commonwealth bonds Lave also declined a couple of points. COMMONWEALTH BANK RETURN. SYDNEY, 13th February. Substantial movements are shown m the weekly return of the Commonwealth Bank to 10th February. ' The note issue is £480,500 lower at £41,----903 726, while the gold reserve has risen by £3,113,288 to £21,581,207. Some gold has evidently been obtained froni other institutions and has been placed in the notes reserve preparatory to shipment to London. The figures of the banking department reveal a contraction from £4,300,000 to £3,900,000 in money at short call in London. U.S. BANK RATES. NEW YORK. 12th February. The Boston Federal Reserve Bank has reduced its rediscount rate from iVs to 4 per cent. PRICE OF GOLD. •LONDON, 12th February. The price of gold is £4 4s 11 3-Bd. MOVEMENT OF LEAD. LONDON, 12 th February. Lead imports for January * amounted to 35,868 tons, including 10,012 Australian. Exports were 4003. NEW YORK ADVICES. (Received 14th February, 11 a.m.) NEW YORK, 13th February. Call money: 4 per cent, all day. Chicago wheat: March, 118 7-8 cents; May, 122 7-8 cents; July 122 7-8 cents; September, 126 cents. AUSTRALIAN PRODUCE. SYDNEY, 13th February. Wheat, in bulk, 4s ll%d per bushel; bagged, 5s per bushel. Flour, £11 10s per ton; bran, £7 10s; pollard, £9 per ton. Potatoes: Tasmanian, £9 to £10 10s; Victorian, -27 10s_ per ton; oats: white, ss; Algerian, 4s 6<l~. Maize, 7s per bushel. ADELAIDE, 13th February. Wheat, 4s 6%d per bushel. . Flour, £12 2s 6d per ton. Bran, £6 12s Gd per ton. Pollard, £8 5s per ton. Oats, Algerian, 2o 8d to 2s lOd per bushel. SYDNEY WOOL SALES. SYDNEY, 13th February. At the wool sales to-day offerings totalled 8457 bales, of which 7972 were sold and also 317 privately. There was good general competition. The market was firm at the best rates of.the week with a particularly keen demand for finer descriptions. Greasy merino made 22Vid. UPPER HUTT SALE. Messrs. Dalgety and Co., Ltd., report a large yarding of sheep at the ewe fair at Upper Hutt on Thursday last. There was a large attendance, and competition was keen throughout the sale. Practically the whole yards charged hands at prices on a par with recent sales. Quotations: Fat lieifers £8 12s 6d to £9, m.s. lambs 14s 2d to 14s Gd, cull lambs 7s Id and 8s Id to 7s Sd and 11s, twotooth ewes (small) 17s, four and five year ewes 16s 9d to 18s and 20s Id, 20s 9d to 21s; aged ewes 10s Gd to 12s, two-tooth Romney rams 3gns to 4gns, two-tooth Southdown rams 4gns to Ggns and 6gns to 7% gns, Lincoln rams 4%gns. SUGAR IN PAPUA. CAIRNS, 12th February. A. now company, called the Sangara Estates, Limited, registered at Port Moresby, in to erect a mill and grow sugar tit Sangara. The Papua Company expects to have two hundred thousand tona of sugar cane in siaht in 1033.