THE WORLD OF COMMERCE

New Zealand Times, Volume LIII, Issue 12609, 20 November 1926, Page 6

THE WORLD OF COMMERCE

WELLINGTON STOCK EXCHANGE

YESTERDAY'S QUOTATIONS. (3.15 p.m. Call.)

Yesterday's closing quotations for premiums of investment and mining stocks, as advised by the Wellington Stock Exchange, are as under:—

Sales reported.—Auckland Gas (paid) .£1 3s Sd.

SALES IN OTHER CENTRES Per Press Association. AUCKLAND, November 1!). Sales. —Auckland Gas, 23s 9d; Moanntniri, 5s 9d, 5s 10d» 5s 6d, 5s 3d, 5s Cd: Aiburnia, 4s sd; Lucky Shot, Is sd; Hctherington Collieries, 6s 9d; Bank of New Zealand (rights), 6s 7d. Sales reported.—Goldsbrough. Mort., 49s 6d; Kauri Timber, 29s 9d. Sales.—Glaxo (debentures), «£S9; Union Bank of Australia, <£ls 4s 6d; Goldsbrough Mort., 49s 6d; Hetherington Collieries (cont.), 6s 3d; Auckland Gas (cont.), 13s; Kauri Timber, 29s 3d; National Timber, 14s 6d; Taranaki Oil, 10s; Luckv Shot, la 4d; ditto (cont.), Is 2d, Is lid; Waihi Grand Junction, 2s 4d. CHRISTCHURCH, November 19. Sales reported. Goldsbrough Molt.. 49s 6d; Kawarau, 3s 2d (two parcels), 3s 3d. Sales on 'Change.—Bank of Australasia, .£l4 14s. DUNEDIN, November 19. Sales on ■'Change.—New Zealand Breweries (debentures), 255; Bathan’s A, 5s 9d prem. (two parcels); Mount Ida, 21s 6d. Reported sale.—Electrolytic Zinc (ord.), 36s 6d. Sal© reported: Westport Coal (ex. div.) 365. LONDON STOCK EXCHANGE COLONIAL GOVERNMENT STOCKS Australian and N.Z. Cable Association. LONDON, November 38. Following are the current quotations for Consols and for British and Dominion Government stocks, compared with the quotations on November 31th:—

BANK OF ENGLAND ' WEEKLY RETURN. Australian and N.Z. CnMo As?ocin ,; o LONDON, November 18. Following is the Bank of England return : Banking Department. £ Notes issued 171.298,060 Other securities ft,735,000 Gold, coin, and bullion 151,458,000 Issue Department. Rest 3.215.000 Public deposits 20,452,0(K) Other deposits 100,218,000 Seven-day and other bills ... 3 p.c. Government securities 34,108,000 Other securities 69,423,000 Notes 33,099,000 Gold and ailver coin 1,541,000 Proportion of reserve to liabilties 25.60 p.c. Short loan* P c - Rate of discount for threemonths' bills 4 11-16 p.c. r M( , r vD :H.6s4).uno Circulation , 138,109,00*0

. ENGLISH MARKETS MISCELLANEOUS PRICES Australian and N.Z. Cable Association. (Received November 19, 11.55 p.m.) LONDON, November 18. Wheat: Cargoes are steadier, on the less 'favourable coal outlook, the pessimistic Argentine weather news, and despite the lower American reports and increased Australian estimates. Parcels are quiet, and occasionally higher. Liverpool futures: December ils 4id, March 10s 6±d. The spot trade is quiet, tending in the buyers' favour. Wool tops.—Tho Bradford market is eteadyfi but cautious, aud prices are firm at 04»'s, 3s 9|d; 60's, 3a 7d; 56*6, 2s 7Jd; 50's, 2s 2d; 46's, .Is 9d; and 40's Is Bd. Rabbitskins.—At the rabbitskins sales, 3300 bales were offered, and there was fairly general competition. Furriers* sorts were 10 per cent, above September rates, while medium hatters were at late rates to 5 per cent, declino. Lower grade showed a o to 10 per cent, advance. Germans competed strongly lor the best turriers. a: lour is dull. (Juts and beans are quiet. Peas are steady. At tho Antwerp wool sales 4610 hale* were ottered, and only 101 l sola. The attendance was pooi. Prices were unchanged. ■Sugar, granulated, 31s 4fd per cw\. FROZEN MEAT Messrs DaJgety and Company, Ltd., report having received the lolJowing cabiebluui iron! men* London house, under udie of tne 13th instant:— "Ajainb: New Zealand prime crossbred lamb, Canterbury, heavy 7sd, light 9id; North Island, heavy 7*o, light 9iU. Market weak; demand limited. ‘"Mutton: New Zealand prime crossbred mutton, Canterbury, heavy s£d, light 6fd; North Island, heavy sd, light Market weak; demand poor. “Beef—New Zealand prime ox beef, hinds 4id, lores 3*U. Market weak; demund leao. “Australian lrozen meat: Good average quality crossbred iauiu, light Bsd, heuvy not quoted. Market quiet; demand numerate. . “Poik: Market weaker owing to cheap supplies Argentine. Nominal quotation New Zealand on spot, lid to Hid. - '

DAIRY PRODUCE .Messrs Daiyely ami Company, Ltd., report liaviug received the following cablegram from Ifieir London house, under uatu of tho lStli instant: ••Butter: Market steady but very quiet, and inquiries limited to fiist-graUe. Last season's stocks and secondary qualities mostly difficult to sell, and buyers holding otf at present for new; arrivals. New season’s minimum quotations: New Zealand iinest 150 s, first grade lids; last season’s stored, first grade tads to 140 s, second grade 13-s, nominal. Danish lids (1765), Australian finest salted Ltßs to ills fllds to M6sj, unsalted 100 a 1160 s). _ •‘Cheese market slow; new season’s quotations. New Zealand finest white and coloured, Sss; first grade B+s. Canadian, white and coloured, 82s to 82s iß6s to 87s). ” Last week's quotations shown m parentheses.

CANTERBURY MARKETS BUSINESS EXCEPTIONALLY DULL NO PROSPECT OF IMPROVEMENT. Per Press Association. CHRISTCHURCH. November 19. Business in the produce market continues to be ns quiet as it has ever been at the preent time of the year, and there does not appear to be any immediate prospect of improvement. A small amount of business has ben done in next year’s wheat, the prices paid being on a basis of-6s on trucks at country stations. Owing to reduction in values of wleat and flour in Australia, which has been brought about through the coal strike in England, resulting in shipping freights having to be raised in order to meet the increased cost of coal, a good many buyers have withdrawn in th® meantime. This is having an adverse effect locally. A few sales of fowl wheat have been made at a rate equal to 7s 6d f.0.b., but inquiries have come mostly from retailers, millers not being interested in the business. No oats are being sold at present, the opinion among merchants being that prices will have to come down considerably before business in this line will improve. The local consumption of oats is decreasing every year, as the popularity of motor transport increases, and according to one merchant it will be a matter of surprise it the new season's prices open at more than 2s 6d a bushel on trucks at country stations.

New season's Partridge pens have been offered at 6s. but very little business is being done at present. The trade in potatoes is practically at an end, although a few odd lines are still being disposed of. The Whangape, which left for Sydney earlier in tne week, took 1600 sacks, and it is expected that a further small consignment will be shipped next week. A few lots are also being shipped north since recent rains in the North Island had the effect of holding up supplies of new potatoes temporarily. So far as the local crops are concerned they are looking very well, and the prospects for the new season are good provided no further rain falls for some time.

Buyers. Sellers. £ 8. a. JS 8. d. Government Loans— Inscribed Stock (1909) 96 10 0 — Inscribed Stock (1938) 96 10 0 — Inscribed Stock (1933) 100 10 0 100 15 0 Inscribed Stock (1936) 100 10 0 — War Bonds (1939) 96 12 6 — War Bonds (1938) 96 12 6 — War Bonds (1930) — 98 0 0 War Bonds (1933) 100 10 0 — Debentures— Wn. Bacintr Club ... 106 0 0 — N.Z. Breweries (bonds) — 1 5 6 Banks— 14 5 0 National of N.Z 7 1 0 New South Wales ... -V45 0 0 3 1 0 New Zealand (rights) 0 6 6 0 6 9 Union of Australia ... 15 5 6 15 7 0 Financial— N.Z. Guarantee Corp. (ord.. 8s) — 0 10 9 Wn. Invest. T. and A Wn. Deposit & Mort0 10 6 10 0 4 W r i cr ht, Stephenson (ord.) Wriir ht, Stephenson - 1 4 6 6 (pref.) — 0 17 Gas— Auckland (paid) 1 3 6 1 3 10 Ashburton — to 0 0 Insurance— •4 0 0 New Zealand .. — 1 19 6 South British — 2 17 6 3 0 6 N.Z. Refrigerating 00s) 0 6 9 0 7 1 Transport — Huddart, Parker (ord.) 2 7 9 P. and 0. Deferred •250 0 0 Kelburn and Karori Tram 1 6 11 — Woollen— Wellington (ord.) 6 10 0 , Wellington (pref.) 6 10 0 — Coal— +1 16 6 Timber— 8 Breweries— Crown 0 19 0 i 1 3 Manning and Co — 1 1 6 New Zealand 2 12 3 — Staples and Co 1 17 1 i 18 3 Ward and Co 2 2 6 — Miscellaneous— Burns, Philp and Co. — 1 19 8 Electrolytic Zinc (ord.) Electrolytic Zinc 1 16 0 1 17 0 (pref.) 1 17 9 Sharland & Co. (ord.) Smith and Smith — 1 2 9 (pref.) — 0 19 0 Wairarapa Farmers* (.£5) 4 0 Wairarapa Far mere* (£1) 16 3 Wairarapa Far mers* (pref.) — 0 16 11 Wilson's Cement *1 14 6 — Mining— Waihi Grand Junction 0 2 8 Kawarau 0 2 9 — +Ex div. *Cum di

Nov. Nov. 18tli. 11th. £ £ Consols 5 It54* British War Loans. 3* p.c 951 British War Loan, 5 p.c. ... m 992 Conversion Loan, 3J p.c. ... 71J CoramonweBlth. Si p.c., 1923Commonwealth, 6 p.c., 193141 Victorfa, 3 p.c., 1 £29-40 70$ 7J Victoria, 31 p.c., 1929-40 ... 7G 7G Victoria, 5} p.c., 1930*40 inn! 100? Victoria, 5 p.c., 2932-42 96? 95 9-16 Victoria, 5 p.c., *940-00 93{ 933 N.R.W.. 4 p.c., 1933 00* 90 N.S.W.. 3 p.c.. 1935 81 SOI N.R.W., 31 p.c., 1930-45 7H 71 N.S.W., si p.c., 1922-32 mi 99J X.S.W.. el p.c., 1930-40 103! 103 N.R.T7.. 6 p.c.. 1930-40 loot 1001 New Zealand, 4 p.c . 1929 ... 96 3 96' New Zealand, 3 p.c., 1915 ... 76 7!H New Zealand. 3* p.c., 1940... 851 New Zealand, 6 p.c., 2930-51 ins 108 South .Aust., 31 p.c., 1939 ... 82^ 82 South Aust., 3 p.c., 1926 or after 59 J 59{ South Aust.. 6* p.c.. 1939-40 1931 103J Tasmania, 3* p.c., 2920-40 ... 82^ 83 Tasmania. 3 p.c., 1930-40 ... 78 * 78 Tasmania, 6* p.c.. 1930-40 ... 101 i 104J Queensland, 31 p.c , 1930 ... 92 92 Queensland, 3 p.c., 1922-47... G71 07-4 West Aust., 3* p.c., 1920-32 8T.-1 85 Wert 3 p.e.. 1915-35... 81ZV- ' • *.nct.. G p.c. 1960-40 ... 1021 ■m>3 <"> Shares 252 252