COMMERCIAL

Southland Times, Issue 21097, 31 May 1930, Page 2

COMMERCIAL

* i STOCK EXCHANGE.

YESTERDAY’S QUOTATIONS.

At yesterday’s meeting of the Invercargill stock exchange the following prices were quoted:— , c/ Bank of Australasia: b £l2 5/-. Commercial Bank of Australia: b 21/6, s 21/9. National Bank of New Zealand, b £6 4/Bank of New Zealand: b 58/6, s 59/-. Union Bank of Australia: s £ll 17/6. Westport Coal (cum. div.) : b 31/6. National Insurance, s 14/8. New Zealand Insurance: b 43/6. Dalgety and Co.: b £ll 5/-. Goldsbrough Mort and Co.: s 3-/6. Wright, Stephenson and Co. (ord.) : b 20/-. ■ New Zealand Refrigerating (10/- paid): b 4/6, s 5/-. Southland Frozen Meat (£1 ord.) : b 35/-; (10/- ord.) b 17/6; (£1 pref.), b 35/Mount Lyell Mining (cum. div.) : b 29/-. Winding Creek Gold. Mining: s 9d. Stoney Creek: s 9d. Huddart-Parker (ord.): b 38/-. Kaiapoi Woollen Mills (cont.) : b 3/11. British Tobacco (Aust.) : b 39/-. Christchurch Gas Co.: b 26/-. Dominion Rubber Co.: s 21/-. Milburn Lime and Cement: b 32/-, s 33/6. , New Zealand Drug: s 64/6. New Zealand Farmers’ Fertilizers: b 18/6.

New Zealand Guarantee Corporation: b 7/6.

Inscribed Stock, 1938, 44 per cent, (free of income tax) : b £9B 10/-.

War Bonds, 1938, 44 per cent, (free of income tax): b £9B 10/-. Inscribed Stock, 1939, 44 per cent, (free of income tax): b £9B 10/-. « War Bonds, 1939, 44 per cent., (free of income tax) : b £9B 10/-. Government Bonds, 54 per cent., 1933: b £99. Sale Reported. A sale was reported of Toohey Breweries’ shares at 24/-.

THE WEEK’S TRANSACTIONS,

New Zealand Government Bonds and Stock still show a firming tendency and the 44 per cents due 1938 and 1939 have been disposed of at £9B 15/-. Buyers are offering £9B 10/- and there are no sellers at the moment. In banking lines Australian Bank of Commerce show an improvement in price over that of a fortnight ago selling up to 25/4. Commercials of Australia firmed during the week and several parcels changed hands, prices ranging from 21/6 up to 21/9. The quotation yesterday was buyer 21/6, selling 21/10. Although they have not been quoted very freely during the week E.S. and A. Banks showed a slightly firmer tone and sales were reported from Northern centres at £6 9/- and £6 10/-. The latest reporls gave buyers at £6 8/6 and sellers £6 10/6. National of Australasias have not been dealt in during the week and the quotations at last call were buyers £7 10/-, sellers £7 12/6, for the contributing, and for the £lO paids buyers £l4 18/6, sellers £l5, these prices being ex dividend. Nationals of New Zealand have buyers at £6 4/- after reported sales at £6 5/6 and £6 6/-. Bank of New Zealand’s sold during the week at 58/6 to 58/10. Latest quotation was buyers SS/6, sellers 59/-. Bank of New South Wales have buyers at £39, sellers £4O. Union Banks have firmed. Sold early in the week at £ll 9/- and £ll 10/-, they brought up to £ll 13/6, and there was no seller willing to accept below £ll 17/6 at the last callover.

There was very little movement in insurance lines. A parcel of Nationals changed hands at 14/6, and more could be had at 14/8, but there were no buyers at the latter figure. New Zealand’s sold at 44/9, and buyers were after more but would not give sellers’ price. Westport Coals had buyers during the week at 31/6 cum. dividend of 1/- per share. Payable on May 30 they will be quoted ex dividend from to-day. New Zealand Breweries are a shade easier than a' week ago selling at 53/-. At the beginning of the week they dropped quite a 1/- and changed hands on Thursday at 52/-. Mount Lyells have been given some attention during the week and sales were recorded up to 29/6. Buyers were offering 29/- yesterday with no sellers. Stoney Creeks and Winding Creeks have not been dealt in. Sellers for both lines are about at 9d. There has been some movement in Okaritos up north, and sales were put through at 2/6 and 2/7 premium. There was very little inquiry for Loan and Agency shares.. Dalgcty’s have buyers at £ll 5/- and there is a seller of Goldsbrough Morts at. 32/6, a buyer for Wright, Stephenson’s (ord.) appeared yesterday quoting 20/-. British Tobaccos continue to hold the price they brought a week ago and are, if anything, a shade firmer. Buyers., yesterday at 32/- after sales during the week as high as 40/-. In shipping lines HuddartParkers had one or two transactions at 38/6, and buyers were offering 38/- at the close of the week without response from sellers. No business was reported in Woollen companies shares. Prices are on a par with those of a week ago. The meat section has been quiet during the week. In miscellaneous lines Christchurch Gas continue in demand at about 26/-. Sellers of Milburn Limes are quoting the same price as last week, namely 337-. New Zealand Drugs have buyers at 62/G, sellers 04/6, and there is a buyer of Farmers’ Fertilizers at 18/6. A sale of New Zealand Guarantee Corporations was reported at 7/9 and more are wanted at 7/6.

THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, May 30. Sales on ’Change: Union Bank £ll 13/6; Devonport Steam 22/-; New Zealand Breweries 52/3; Colonial Sugar £4l 5/-; Farmers’ Trading S/9 (2) ; Alburnia G.M. 1-ld. Wellington, May 30. Sales reported: New Zealand Government 44 per cent. Stock (1938) £9B 12/6; Australian Bank of Commerce £1 5/-; Bank of New Zealand £2 18/9 and £2 18/10; Union Bank of Australia £ll 13/6; Union Bank of Australia Melbourne reg. £ll 15/-; Christchurch Gas Co. £1 6/3; New Zealand Breweries (2 sales) £2 12/-;‘British Tobacco Co (ord.) £2; Wilson’s Cement £2 5/- cum. div. Christchurch, May 30. Sales on ’Change: Commercial Bank of Australia 21/7 (3) ; National Bank of Australasia £5 paid £7 12/6 (2) ; New Zealand Breweries 52/- (4); British Tobacco 40/3 (5).

Sales reported: Westport Borough 6 per cent. (1940) £102; Australian Bank of Commerce 25/3; Commercial Bank of Australia 21/7; National Bank of Australasia (£5 paid) £7 12/6; National Insurance 14/5; New Zealand Breweries 52/..(8) ; Bank of New Zealand 58/104; Tooth’s Brewery 35/-, 34/8; Commercial Bank of Sydney £22 10/-; British Tobacco 40/6. Dunedin, May 30. Sale on ’Change: New Zealand Breweries 52/1. Sales reported: Bank, of New Zealand 58/9 (two); New Zealand Breweries 52/3. Sales reported after last call: Commercial Bank 21/7; Bank of Australasia £l2 16/6; Okarito 2/6 prem.

DUNEDIN MARKETS. Dunedin, May 30. In the absence of offerings, Milling wheat is quiet and little interest is being displayed by millers. The price for June will be 6/4 f.0.b., for Tuscan, 6/6 for Hunters, and 6/8 for Velvet. Millers, however, are not prepared to pay more for Velvet than the quotation for Hunters. Distributors of fowl wheat report that the trade is not so brisk as in past years. This is probably the result of poultrykeepers stocking up earlier in the season and also the fact that there does not ap-

pear to be the same number of people engaged in poultry-keeping as previously. Although several inquiries are being received there is not much business passing in oats, as buyers are not inclined to pay the increased prices asked by merchante. Deliveries from the country have practically ceased in the meantime and any quotations made are for lines held in stores. Holders are asking 4/- f.0.b., s.i, for A’s and sales have been made at this figure for spread delivery, through to December. I 1 or prompt delivery, 3/11 f.0.b., s.i., is the value of A Gartons with B’s 3/10. There is still a scarcity of B’s most of the deliveries being of A grade .quality. ' The potato market continues to drag and sales are hard to make. Consignments are arriving in excess of the demand with the result that a fairly large proportion of tubers.are going into store. The shipping market to the North Island is quiet. Best quality is worth £5 per ton, sacks included ex store, Dunedin. The chaff market remains firm* as the shortage of winter feed is causing growers to hold their supplies which are now becoming short in Dunedin. There is still a shipping, demand, but owing to the absence of stocks, little business is being done. Best quality is firm and is to-day worth £5 7/6 to £5 10/- per ton, sacks extra, ex truck, Dunedin.

The market for most lines of seed is firm. Inquiries are being received for ryegrass from merchants who # wish to stock up for the spring trade, but it is difficult to obtain quotations. It is apparent now that there is not the usual quantity of stocks of ryegrass held in the country and merchants are marking time for the present. Both Chewing’s feecue and dogstail are firm in price following on a poor harvest in both varieties consequent on the unsuitable weather conditions during the growing period. Good quality dogstail has been sold at 9d per lb and fescue at up to lid. Fruit Report. Fair quantities of apples are still reaching the marts and prices of choice quality are a little better. Really good cookers have also better inquiries. Pears are in heavy supply and arc offering at low rates. Heavy supplies of Island oranges reached Dunedin during the week. The condition of the fruit was not of the best and many cases had to be repacked. The consignments will show a loss to’ shippers, seeing the quantity of oranges that had to be thrown away. It may be added that last season oranges from this quarter were in much better condition than those just landed. A shipment of Samoan oranges has been landed at Lyttelton and the Dunedin portion will be railed down. It should reach here to-morrow afternoon and will probably be auctioned on Monday. The price has been fixed for the shipment, at 23/6 per case. Further supplies of Aitutaki oranges are expected here next week. These should bring satisfactory prices as they have a good demand from local retailers. The Waikouaiti is expected on Thursday next with a general assortment of fruit and it should meet with ready sale. Australian grapes are now practically sold out of wholesale hands. Further supplies should be on the Waikouaiti. Tomatoes are still coming forward from Central Otago and Christchurch. They are now of poor colour and the season is about finished. Local hothouse are available in small lots and sell rapidly. CANTERBURY MARKETS. GRAIN AND PRODUCE. Christchurch, May 30. The market for oats continues firm, and the southern price to-day is a shade better. A Gartons for prompt delivery are obtainable at 4/- f.0.b., s.i., but that figure will not secure A’s for spread delivery. B’s are still very hard to obtain and quotations are 3/101 f.0.b., s.i., for prompt and 3/11 for spreads. Chaff has firmed slightly. Quotations for prompt delivery are £7 f.0.b., s.i., equivalent to £5 10/- on trucks. Quotations for wheat are unaltered and are 5/8 to 5/9 for Tuscan 5/9 to 5/10 for Hunters and 5/11 to 6/- for Pearl, on trucks price in each case. There is a little business being done in next season’s wheat on the basis of 5/6 for Tuscan, 5/8 for Hunters and to 5/11 for Pearl. Fowl wheat is very sjjjtfrcy. and has. firmed a little, it is now quoted at 5/11 to (>/- f.0.b., s.i., equivalent to 5/6 to 5/7 on trucks. The potato market is very weak. There was a small and short-lived firming yesterday. The Auckland market is reported as having an over supply. The Katoa will take a further 5000 sacks (approximately) on Monday for the northern port. The price to fanners is £3 5/- on trucks. Forward quotations,, which are also unaltered are: June £4 12/6, July £5, July-Septem-ber £5 10/-.

The onion market is scarcely as good as last week, and the demand has eased. Prices to farmers on trucks have varied during the past week from £3 to £3 10/a ton, and to-day can be quoted at £3 to £3 5/-. Growers generally are holding supplies. There has been a better demand for peas during the last few days, and to-day’s quotations record a sharp rise, especially for No. 1. Sales have been made up to 5/9 f.o.b, s.i. for No. 1, which is equivalent to 5/- on trucks.