WITH INVESTORS ON THE ’CHANGE

Sun (Auckland), Volume 1, Issue 95, 13 July 1927, Page 2

WITH INVESTORS ON THE ’CHANGE

THE WEEK REVIEWED DEMAND FOR DEBENTURES WEDNESDAY, 10 a.m. Auckland Gas continue to command attention and have been freely dealt with during the week at current quotations. Preference is given to the contributing scrip on a market in the vicinity of 17s 6d, compared with the paid ups at 23s 6d to 23s 7d. < Undoubtedly the preference is justified for, with the contributing offering at 2s 6d above the paid-up value, paids sell at 3s 6d above par. Both issues are on the same level when dividends are distributed. Thus, while the return on investment for the former on the present market is slightly over £7, at 23s 6d the paids return £6 16s 2d. Gilt-edged securities commanded the greatest attention on New Zealand exchanges during the week, and the market for Government and local body debentures is firm with sales taking place daily; 1933 and 1936 bonds and stock in particular have proved popular. Banks are not in good tone compared with a few weeks ago. and one or two parcels are easier. New Zealands have been freely dealt with down to 58s 9d. Nationals of New Zealand are considerably easier, and left the mid-day call yesterday with sellers at £6 17s 6d and buyers offering £6 16s. Unions are firmer.

The insurance section has been active with a better demand for Nationals, sales being made up to 60s Id. South British are firm on a market around 58s 6d. New Zealand’s, if anything, are slightly easier. Coals generally have been idle, with firm buyers but few sellers. On the Auckland ’Change Renowns and Taupiris are the. only shares offering. Timber continues depressed. Bartholomews have been dealt with at 19s 6d.

In industrials the principal movements have been downward. Taranaki Oils are weak, and have been dealt with at Ss. Auckland Amusement have slumped to see sales in Dundin yesterday at 9s 9d and 10s. N.Z. Breweries, both ordinary and debenture scrip, which temporarily appeared to lose their attraction, now register a slight firming tendency. Farmers’ Fort, are idle with little business recorded.

Mining has been erratic, and the last day or so the market has been weak. Waihis command less attention and have been dealt with at 18s 6d. Alburnias and Moanataiaris, active last week, now register a weakening tendency. Kawaraus in small parcels still attract the speculative element and have passed up to Is 2d.

LONDON MEAT MARKETS OFFICIAL QUOTATIONS Under date July S, the New Zealand Meat Board advises the following range of Smithfleld delivered values:— New Zealand Wethers and Maidens.— Canterbury quality: Selected brands, 561 b. and under, 6 1-Sd per lb; 571 b. to 641 b., 5 l-8d; 651 b. to 721 b., 4 5-Sd. Other brands: 561 b. and under, s|d; 571 b. to 641 b., 42d; 651 b. to 721 b., 4id. New Zealand Ewes.—64lb. and under. 4 1-Sd. New Zealand Lambs.—Canterbury quality, 361 b. and under, 9 1-Sd: 371 b. to i 421 b., Sl-8d; 431 b., to 501 b., 8d; seconds, Bsd. Selected brands: 361 b and under, 9d: 371 b. to 421 b., 8 1-Sd. Other brands: First quality, 361 b. and under, 8 5-Sd; 371 b. to 421 b., 7 7-Sd; second quality, 301 b. to 321 b. average, 8 5-Bd. Argentine Lambs.—First quality: 361 b. and under, 8d; 371 b. to 421 b., 7 1-Sd. Argentine Chilled Beef. —Ox fores. 3 l~8d; hinds, 64d. Argentine Frozen Beef.—Ox fores. 3 1-Sd; hinds, 6*d. Frozen Pork.—Bolb. to 1201 b., Sid; 1201 b to ISOlb., 7d. Lamb. —Market is quiet, consumption only fair. Mutton Market.—Trade is slow. Beef.—The market is easier owing to ! heavier supplies of Argentine chilled beef. NEW COMPANIES Yesterday four private companies are- 6 resristerect in Auckland, lietails Drury Potteries, Limited, brick and tile t 2fi n nne ac - tur^ s 'J nerchant ’ s ’ etr - Capital: m £1 shares. Subscribers: H. C. MeElwain, A. P. W. Thomas, S. R. Sherrms, C. L. Barnard, B. Beckerleg, H G Hayward, H. R. Jenkins, P. s. Robertson, It g- ge'et E C. Foote, R. H. Brown, Chamberlain, E. S. SmaUfield, XV. \. Worth, \\ . H. Waterhouse, T H Brooks, J. B. Crawford, L. J. Patrick F H. Seccombe and A. Willis. Frank Jackson, Limited, general importers, indent agents, merchants, etc. Capital: £4,000, in £1 shares. Subscribers: F. Jackson. 3,000 shares; R. Jackson, and E. M. Dudson, 500 shares each. The Blue Bus Company, Limited. Objects: To acquire the motor business carried on at Hamilton by R. E. McCrae R. S. Darby, H. Bushett and L. Edmonds! etc. Capital: £3,850, in £1 shares. Subscribers: R. E. McCrae. 2.100 shares; R S. Darby, 800 shares; H. Bushett, 550 shares; and L. Edmonds, 400 shares. The Te Aroha Dairy Finance Company, Limited. Capital: £IO,OOO, in £1 share's. Subscribers: The Te Aroha Dairv Company, Limited, 2,000 shares; J. C. Carroll, 1,500 shares: G. H. Stark. H. Holmes, P. G. Delany, G. Alley, J. Ryan, and R. L. Somers, 1,000 shares each; T. H. Robinson, 500 shares. CANADA’S WHEAT POOLS ARGENTINE REPRESENTATIVE By Cable.—Press Association.—Copyright Reed. 9.5 a.m. EDMONTON, Tues. Mr. J. J. Jackman has been reappointed resident representative in the Argentine for the selling agency of the three Western Canadian wheat pools. He leaves in September for Buenos Ayres. The appointment is experimental. Its aim is a minute study of wheat conditions.