Markets and Money

Sun (Auckland), Volume 1, Issue 5, 28 March 1927, Page 2

Markets and Money

A Review for Business Men

ON THE ’CHANGE

BUSINESS QUIET MOANATAIARI’S STILL SELLING A very quiet tone was registered on the Auckland Stock Exchange this morning little business being transacted, quotations registering no great change from last weeks closing rates. Miscellaneous securities are dull, and many are not even quoted. In mining, Moanataiaris are the only shares at all lively, and several small parcels have changed hands. The announcement of a call of twopence during the morning eased the market, and at the mid-day call sales were made at 5s 2d and 5s 4d. while quotations dropped back to sellers 5s 4d and buyers ss. Sales Registered. At this morning’s ten o’clock call: Huddart Parker pref.), £1 0s 6d; Taranaki Oils, lsl 6d; Albui'nia, 3-s 6d: Moanataiari (con.), 5s 6d. At mid-day call: British Tobacco, £2 12s 6d; Alburnia (forward), 3s Sd: Moanataiari (con., twopence call), 5s 4d and 5s 2d. Mid-day Quotations. Closing quotations at mid-day today were as follows:

MARKETING BUTTER

VALUE OF HOME MARKET NEW ZEALAND’S COMPETITORS EventS during the past few weeks 1 have indicated in no uncertain manner the dependence of the New Zealand producer on the vagaries of the London market. Deprived of that avenue for the disposal of his produce the dairy farmer of this Dominion might just as well shut up shop. for. undoubtedly, under existing conditions, it would be many years, if ever, before he could find as good a market. In view of such facts it is interesting to consider just where England obtains her butter from, and the extent of each source’s contributions to the London market. The fact that the provision trade of England has, during the past few weeks, been able to practically boycott New Zealand butter and yet carry on has indeed been an eye-opener to many of the producers of this country. TREND OF RECENT YEARS The sources of supply of butter are many and near to Britain, and many are capable of great development. In fact, the tendency during recent years has been for both the quality and quantity of the butter exports of some countries to increase. * Denmark, shut out x>y high tariffs from Germany and U.S.A.. is payingmore attention to the English market. Argentine shows no disposition to under-value it, and Ireland also is a worth-while contributor. Of Siberia an English authority says: “Present indications point to the quantity of Siberian butter on the English market assuming pre-war proportions in the course of a few years.” Margarine is also a competitor which the New Zealand producer cannot afford to overlook, and consumption of this product invariably increases with a rise in the price of butter. The consumer, however, always prefers butter when the price is within his reach. FORMIDABLE COMPETITION It can be seen, therefore, that the New Zealand producer in any attempt to force the English merchant to acc'ept his ideas of value is up against most formidable competition. The British Board of Trade’s figures' relating to the imports of butter for the years 1.925 and 1 !•'“? give a clear indication in regitr New Zealand’s position. It must . . enlised also that the’English farmer s no mean factor operating on the home market and is a big producer of daii'y produce. Tmnorts into Ensrland during: the oast

BANKS— Australasia — 14 13 6 Eng. Scot, and Aust — 8 11 Nat. of N.Z. . . . . . . 7 0 4 New South Wales . . 49 10 0 49 2 6 N.Z 19 9 19 6 Ditto (new issue) 5s paid 0 12 0 0 11 S Ditto (new issue) 20s paid .7 0 — Union of Australia. — 15 5 6 INSURANCE— 3 14 0 — New Zealand .. 1 16 9 1 16 4 South British .. . . 2 15 9 2 15 6 Standard 3 IV 0 — LOAN AND AGENCY— Farmers’ Co-op Auc. 4 0 0 — Ditto A (pref.) .. 0 18 G — Ditto B (pref.) .. 0 17 Newton King (pref.) 0 16 N.Z. and River Plate 1 S 1 7 0 N.Z. Guar. Corp. (pref.) 0 10 6 N.Z. Loan and Merc. 92 10 Ditto (pref.) .. .. 85 0 0 81 0 0 COAL— Hetherington (con.) 0 7 0 0 4 6 Hikurangi (pref.) .. 0 0 Pukemiro Taupiri Ditto (pref.) .. Waipa GAS— 1 3 2 L 3 0 0 14 10 Birken. and North. 0 18 0 Gisborne 0 11 0 — SHIPPING— Devonport Steam .. — 1 5 3 Huddart-Parker Ditto (pref.) Northern Steam 0 6 6 b p. & O. (def. stk.) .. — 245 TIMBER— Bartholomew 1 2 6 — 1 6 7 Leyland-O’Brien 2 0 Parker-Lamb .. 1 4 — Taupo Totara .. .. 1 — WOOLLEN — Kaiapoi — Ditto (con.) .. .. 4 — BREWERIES— C.. L. fnnes (pref.) 1 0 0 — N.Z. Breweries — 2 MISCELLANEOUS— Auck. Am us. Park 0 16 0 — Ditto (pref.) .. .. 1 0 0 — Burns, Philp and Co. Dominion Pictures 1 0 4 1 Ditto (pref.) . . . . 1 Electro. Zinc (pref.) 1 16 6 Grey and Menzies 0 5 Henry Jones H.M. Arcade Theatre (pref.) 1 0 0 Kempthorne, Prossei Lewis R. • Eady (7 p.c. B pref.) .. 1 1 0 Milne & Choyce .. 1 4 9 Ditto (pref.) 1 4 Ditto (“B" pref.) 1 4 9 Ditto (deb. st.) .. 1 5 0 1 3 9 N.Z. Farmers’ Fer. 4 1 0 3 16 0 Northern Bool 0 17 6 Phillipps and Impey — 1 13 0 Sanford, Ltd 1 3 1 1 Takapuna Tram. .. 0 2 6 0 1 0 Taranaki Oil . . . . 0 6 0 11 0 Thames Theatre 1 0 0 0 lb 6 Wiseman (ord.) 0 8 6 Wilson’s Cement . . 1 16 0 1 15 0 MINING — Alburnia 0 3 5 0 3 4 Ballarat (con.) .. .. 0 0 6 Moanataiari (paid). 0 3 5 0 3 4 Ditto (con.) . . . . 0 b 4 0 0 Golden Age (paid) . . 0 1 0 0 0 7 Ditto (con.) .. .. 0 0 5£ 0 0 3 Kawarau ..... 0 3 4 0 3 2 Komata Reefs . . .. 0 0 3 Kuranui 0 0 6 Lucky Shot (2s pd.) 0 3 0 0 2 10 Ditto (con.) .. .. 0 2 9 0 7 Majestic 0 1 6 0 1 1 New Waiotahi (4s 0 1 7 0 1 0 Ditto (con.) .. .. 0 1 1 0 0 11 New Zeehan 0 1 0 0 0 6 Occidental - Una (con.) 0 0 9 0 0 6 Oliinemuri 0 5 0 Hts'ng Sun . .... 0 1 0 Waihi 0 IV 6 Waihi Grand June. — 0 1 1 AUSTRALIAN— Mount Lyell .. .. 1 9 0 1 8 6 DEBENT URES— Auckland Harbour Board. 4 85 0 0 Ditto, 5a 98 10 0 Dito, 6 102 0 0 City of Auckland, .1940, 51 p.c 96 0 0 Borough of Eden, 6i 105 0 0 N.Z. Breweries 1 4 — Milne and Choyce — #96 0 0 Glaxo — 87 10 0 GOVERNMENT BONDS— War Loan, 1930, 4i 97 10 0 Ditto, 1938, 4i. . . . — 96 0 0 Ditto, 1927, 5 . . . . — 98 10 0 Ditto, 1936. 5& .. — 100 io 0 INSCRIBED STOCK War Loan, 1927. 5 98 10 0 Ditto, 1927-41, 51.. 99 10 0 Ditto, 1933, 5J .. 101 0 0 100 10 0 Ditto, 1936,, 5k . ~~ 100 lb 0

Imports into ±- two years were ngland during - the past is follow: — 1925. 1926. Russia 292,226 262,291 Finland . . 169,696 186,591 Sweden SI,436 154,072 .. 1.658,052 1,906,495 Netherlands . . 76,034 150,442 France 30,996 29,971 Argentine .. . . 484,503 5*3,697 United States 11,843 4,654 Irish Free State 40:1,111 496,245 Australian .. 1,161,238 752,088 162,523 64,394 New Zealand .. 1,255,439 1,153,S96 Other countries 66,148 144,189 Totals . . . . .. 5,853,245 5,819,625