Markets and Money

Sun (Auckland), Volume 1, Issue 104, 23 July 1927, Page 12

Markets and Money

A Review for Business Men

ON THE ’CHANGE

HEALTHY TONE REGISTERED WAIPA COALS MAKE 15/Though business shown under sales registered for yesterday and this morning was limited, the market generally is in good tone. Out of the callrooms brokers are active, and healthy trade is reported for the better class of securities. In coals, Waipas have firmed to see a sale at 15s. Despite a better market in the South, N.S.W. Bank shares remain weak, and to-day’s call failed to draw a buyer. Mining is generally idle, though Waihis maintain their firm tone, and sellers to-day asked 20s 3d. Little attention was paid to debentures this morning, though the market remains healthy and well maintained. SALES REGISTERED At yesterday afternoon’s call: On ’Change—Waihi, 19s 9d; reported—Hill and Plummer, £1 2s. This morning’s business: On the ’Change—Hikuragi A (pref.), ss; reported—Waipa Coal, 15s; Hill and Plummer, £1 2s; Moanataiari (paid), 3s; Union Oil. Soap, and Candle Company, £2 0s 9d. TO-DAY'S QUOTATIONS Closing quotations at to-day’s call were as follow:

PAPAKURA PROGRESS NEW FIRE STATION The Papakura lire brigade station was officially opened by Air. E. D. AleLennan, AI.P., on Friday evening. Owing lo the inclemency of the weather the ceremony was performed inside the building. The station, is situated on a railway section at the corner of Avenue and Railway Streets, is 30 feet by 20 feet, and is lit by electricity. The chairman of the town board, Mr. Jas. McCall, the chairman of the Citizens’ Committee, Mr. Chas. Garlick, and the chairman of the Management Committee, Air. H. E. McEntee, were among those present. Mr. Garlick briefly outlined the activities of the Citizens’ Committee, and how the erection of the station had been brought about, and said that they handed over to the Town Board a building, motor reel, equipment, etc., to the value of £3OO, free of debt. On the motion of Air. Garlick a hearty vote of thanks was accorded the residents who had supplied the cash, and those who had given their labour. Air. E. D. AlcLennan, AI.P., appreciated the honour of performing the open opening ceremony of the fire station. It was a distinct forward movement, and marked another milestone in Papakura’s history. He expressed the opinion that Papakura’s prospects were very high indeed. The key was then officially handed over to Air. AlcCall, chairman of the Town Board, and with its transfer the activities of the Citizens’ Committee cease. Mr. Jas. AlcCall and the Rev. W. C. Wood (a former chairman of the Town Board) both expressed their pleasure at the handsome result of the labours of the citizens of Papakura. The band 1 gave a couple of selections, and the fire brigade afterwards gave a demonstration, the high presure enabling them to send a stream of water 60 to 70 feet in the air.

FIRM WHEAT PRICES EASE DEMAND OTHER CEREALS WANTED MARKETS REVIEWED

Summed up, the past week has seen excitement in the potato market, good business in maize, a firm tone in wheat, and an easing of future barley prospects. Other lines have incited little attention. SOUTHERN potato quotations receded to £4 10s during the week and buyers came on the scene to such an extent that sellers soon withdrew to an advanced market of up to £4 15s. To-day the position on the spot is that supplies are limited and holders have no difficulty in quitting at firm values. Next week’s arrivals are being dealt with at £7 5s ex tne ships' side to small traders.

Merchants here give little attention to the talk in tl\e South and generally hold the opinion that prices will maintain reasonably low values for some time to come. Interest will be evinced in the Tasmanian consignment which arrived last night. The landed cost is reported higher than recent Southern arrivals, and consignees will be permitted little profit on the turnover. A limited local demand from early sowers exists for seed potatoes. Ample stocks are held. MELBOURNE ONIONS ARRIVE The consignment of Melbourne onions ex the Kartigi will be welcomed by the trade and the bulk of the shipment is sold to arrive. Orders have also been placed for August and September deliveries. Contracts have been entered into with California operators for both case and bag lots to arrive in October and November. Local onions are still offering, but their poor quality puts them in little demand when better overseas samples are available. Fowlwheat continues firm in the South, bringing the local through store price up to about 8s 3d. At this price merchants mostly buy only from hand to mouth and the demand from feeders tends to become diverted to cheaper grains. MAIZE SELLING FREELY Maize is now coming forward freely from Poverty Bay and the East Coast and landing in Auckland at a price in the vicinity of 6s a bushel on the wharf. The high price of wheat is reflecting to the advantage of the maize sellers, and a healthy demand is registered. Clipped barley and oats are also meeting with a ready demand from feeders as a substitute for wheat, though barley for pig feeders is in less demand owing to increasing supplies of skim milk. Business in bran is restricted. Pollard on the other hand, sells freely. Prices are kept in the buyers’ favour by Alelbourne arrivals. The market for feed oats remains unaltered, but the demand is lifeless. Chaff is firm at the moment, but indications are that it will ease in the near future. Through store locally, it continues to sell in the vicinity of £9 10s. Heavy sales of fertilisers continue to be recorded with the demand especially keen for superphosphates.

INTRA-EMPIRE TRADE WISE PUBLICITY NEEDED By Cable. —Press Association. —Copyright LONDON, Thursday. The Under- Secretary for the Colonies, Air. W. G. Ormsby-Gore, in an address to the Advertising Convention said: “Do not make any mistake. If we are indifferent to the trade possibilities within the Empire our rivals will be grateful. They have been trained to the last man to capture every potential overseas customer. “The buying capacity of the Dominions has not yet been tested to a small fraction of its maximum. The public’s conception of the connection between overseas sheep-runs and orchards and Britain’s docks and shops is only half alive. The other half depends on wise publicity.” —A. and N.Z.-Sun. ORANGES FOR AUCKLAND WAIPAHI SAILS SHORTLY Aucklanders are to continue well supplied with Cook Island oranges. The anticipated trouble of a few days ago has blown over, and the Union Company announces that the Waipahi will sail on August 3. The fruit merchants have held throughout that there were ample supplies available in the group, and the principal reason for the small shipment on the last trip arose out of a misunderstanding in regard to loading dates.

Seize Burer BANKS— € n. a. £ s. 1. Com. Bank of Aus. 1 10 0 Ditto (pref.) .. .. T 1 0 — Eng., Scot, and Aus. (rights) 1 11 0 1 7 ft Nat. of N.Z.. Ltd... 6 IS 0 6 15 0 New South Wales .. 45 5 0 New Zealand . . .. 2 19 0 2 18 G Ditto (10s paid) .. 0 16 0 Ditto (20s paid) .. 1 5 6 Union of Australia.. 15 14 0 15 9 0 INSURANCE— National 3 15 3 New Zealand .. .. 1 19 9 1 19 3 South British .. .. 2 17 6 2 16 0 LOAN AND AGENCY— Abraham, "Williams (pref.) 4 10 0 4 2 G Farmers' Co-op. Auc. (B pref.) 0 16 0 Goldsbrough, Mort (ex rights! 0 11 0 Newton King (pref.) 0 14 0 N.Z. and River Plate 1 8 0 1 6 ft Loan and Merc. 91 ft ft Ditto (pref.) .. .. SO 0 0 N. Auck. Farmers’ Co-op. (B pref.) .. 0 S G — COAL— Renown (con.) . . . . 0 7 0 0 G 0 Hikurangi (pref.) . . ft 5 Ditto (A. pref.) .. o 4 4 Pukemiro Collieries 2 18 6 Taupiri 1 5 0 1 4 G Waipa 0 15 0 0 14 4 GAS— Auckland 1 3 G Ditto (con.) .. .. 0 17 9 0 17 Gisborne 0 11 0 — SHIPPING— Devonport Steam .. 1 4 Hud dart-Parker 2 8 0 2 7 9 Ditto (pref.) . . . . 1 0 0 Northern Steam 0 14 9 0 14 0 TIMBER— Bartholomew .. .. 0 19 9 Kauri 1 i 0 1 2 0 National 0 11 0 Parker-Lamb .. 1 2 6 — WOOLLEN— Wellington 6 8 0 Ditto (pref.) .. .. — 6 7 0 BREWERIES— C. L. Inne* (pref.).. 1 0 0 N.Z. Breweries .. .. 2 G G 2 4 0 MISCELLANEOUS— Auck. Amuse. Park. 0 11 9 0 11 0 Ditto (pref.) 0 IS 0 A. J. En trican 0 1!) 0 Bycroft, Ltd 1 9 6 Checker Taxicab .. 0 18 0 Ditto, (con.) . . . . 0 G 6 0 5 G Dental & Medical. . 0 16 0 Dominion Pictures.. 1 0 Ditto (pref.) .. .. 1 0 0 Electro. Zinc (pref.) 1 12 0 Gear Meat 1 15 3 Grey and Menzies.. 0 12 G 0 9 Hamilton Theatres 0 18 Ilill and Plummer .. 1 8 0 H.M. Arcade (pref.) 1 0 0 Kempthorne Prosser 3 3 0 Milne and Choyce 1 1 6 Ditto (pref.) .. .. 1 4 6 Ditto B (pref.) .. 1 4 6 Ditto (deb. stock) 1 4 6 1 3 G N.Z. Farmers’ Fert. 4 1 G N.Z. Refrigerating (con.) ft 5 9 Phillipps and Impey 1 14 U Sanford, Ltd 1 2 0 Ditto (pref.) .. .. 1 2 0 Sliarland and Co. . 1 1 Taranaki Oilfields . . 0 8 6 0 7 Thames Theatre Co. 1 0 0 U 15 0 Tonson Garlick 0 12 6 Union Oil. Soap and Candle _ 2 0 0 Whit tom® Staven2 G ft * ft Wilson’s Cement .. 1 14 G 1 14 0 MINING— Alburnia 0 4 ft 0 3 9 Moanataiari (paid) . 0 8 ft 2 9 Ditto (con.) .. .. 0 1 1 1 0 1 G Golden Age (con.) .. 0 0 Kawarau 0 1 0 1 0 Komata Reefs . . .. 0 0 Kuranui 0 0 G 0 ft Lucky Shot (2s pd.) 0 2 Ditto (con.) . . . . 0 Maoriland Con 0 1 Majestic G.M. Co. 0 0 G 0 0 2 New Waiotahi (4s paid) 0 0 11 Ditto (con.) . . .. 0 0 10 0 0 8 Nonpareil (con.) 0 0 G Occidental-Una (con.) .. . . .. 0 0 Si 0 0 6 Ohinemuri 0 4 9 0 4 3 ■ -

Waihi 1 0 3 ft 19 6 Waihi Grand June. 0 1 7 0 1 5 AUSTRALIAN— Mount Lyell 1 S 3 — DEBENTURES— Auckland Gas, 1328, per cent 99 0 0 Auck Harbour Bd, 4 So 0 0 Ditto, 52 p.e 102 0 0 Ditto, 6 per cent. 102 0 0 City of Auck, 1940, 5J per cent 96 0 0 Auck. E. Power Bd. 99 0 0 98 0 0 Auck. Hos. Bd., 5j 98 0 0 Bor. of Devonport, 6 100 0 0 Bor. of Hamilton, 6 104 0 ft 100 0 ft N.Z. Breweries .. i 3 9 1 6 Glaxo — SS 10 0 GOVERNMENT BO WDS— War Loan, 1930, 4i 97 10 0 Ditto, 193S, 41 p.c. 97 0 ft Ditto, 1939, 41 p.c. 97 0 Ditto, 1933. 5i p.e. 100 15 0 Ditto, 1936, 5} .. — 101 0 0 INSCRIBED STOCK — War Loan, 1929. 5 . — 98 10 0 Ditto,. 1927-41, 5} 99 10 0 9S lb 0