Markets and Money

Sun (Auckland), Volume I, Issue 196, 8 November 1927, Page 12

Markets and Money

A Review for Business Men

ON THE ’CHANGE

TARANAKI OILS STEADIER BANKS IN GOOD TONE A steadier tone was registered on 'Change this morning. Healthy business was put through and there is a good demand for the better classes ol' securities. Banks are in good tone. New Zealands register a firming tendency. Commercials of Australia are firm and were done this morning at 295. Coals remain in steady demand on a firm market. Taranaki Oils are steadier at slightly above yesterday’s market. Wilsons Cements continue in demand and were done this morning at 36s 6d. In mining, the market for Occidentals. firm at the early call, eased slightly at mid-day. Waihis are in better tone and were done at 21s 9d yesterday afternoon. Gilt-edged stocks remain in good tone on a practically unchanged market. SALES REGISTERED Yesterday afternoon's business.—On ’Change: Ohinemuri. 6s lOd; Waihi, 21s 9d; Taranaki Oils, 10s 9d. Reported: Sanford Ltd., (ord.). 20s; Wellington Woollens (ord.), £6 3s. At this morning’s 10 o’clock call.— On ’Change: Commercial Bank, 295; Union Bank (fractions), Bs. Reported: Commercial Bank, 295; Occidental Una (2s pd.), Is 9d and Is lOd. At to-day’s mid-day call. —On ’Change: Wilsons Cement, 36s 6d: Waihi, 21s 6d. Reported: National Bank of Australia (con.), £8 14s 6d; Sanford, Ltd., (pref.), 20s sd. MID-DAY QUOTATIONS Closing quotations at to-day’s midday call were: Sellers. Buyers.

CHICAGO WHEAT By Cable.—Press Association. — Copyright. Reed. 10.32 a.m. CHICAGO, Monday. Wheat. —December, 1 dollar 26J cents a bushel; March, 1 dollar 29 7-8 cents; May, 1 dollar 32£ cents.—A, and N.Z.

LONDON MARKETS

OFFICIAL QUOTATIONS Under date November 5 the High Commissioner for New Zealand cabled the following market resume from London: — Tallow The spot market for tallow is quiet and steady. There has been an advance in prices. Present quotations are:— Mutton: Pine, 39s a cwt.; fair to good, 37s 6d to 38s 6d: dark to dull, 36s to Beef: Sweet and or mixed. 39s 6d to 425; fair to good, 37s 6d to 39s 6d: dark to dull. 35s 6d to 36s 6d. Mixed: Fair to good, 37s 6d to 39s 3d: dark to dull. oss 6d to 36s 6d. Gut. etc.: 33s to 36s 9d. Peas The spot demand for maple peas is very slow. No. 1 New Zealand Partridge quoted S7s 6d to 90s. ex store. Some business is reported in February March shipments on the basis of 75s c.i.f. Resellers of Tasmanian February/March shipments at S6s. The market for blues is firmer. Xew Zealand are worth nominally £l9 to £2O for February/March shipments. Beans English beans are in fair demand. Best winter make 46s 6d to 47s 6d and choice old winter up to 535. Parcels of Chinese horse afloat to Glasgow sold at £lO 3s 9d and Oetober/November shipments at £lO ss. Hemp The Manila market is irregular. “J” grade at the close selling at £4l 10s for Oetober-Deeember and January-March shipments. The sisal market is quiet. Tanganyika No. 1 is quoted for November/January shipments at £36. and No. 2 at £35. The New’ Zealand market is dull. A little business done in November/January shipments at highpoints £34 10s, fair £32 10s and common £3l 15s. Oats The c.i.f. market for oats is very quiet. The new’ crop is of fair average quality. Plate for January shipment is offered at 24s 3d. and the Chilean new crop for January/February shipments is offered at 255; the both offers are above buyers’ ideas. Value of “A” grade Gartons for November shipment 32s to 335, c.i.f. English in fair supply. Best white feed 31s to 31s 6d. others down to 245. Wool The Bradford wool market is firm in tone. Tops users are chiefly covered for some time and the amount of new’ business is falling off. Present quotations are: 64’s, Merino, warp, 4s 4d a lb.; average, 4s 3d; 56’s, super halfbred. 3s 2d; 50's, halfbred, 2s 4d; 40’s, prepared. Is lOd. Cocksfoot There is a very limited supplv of Danish cocksfoot and the demand is good. November shipments are quoted at £5 Honey The demand for honey is unlimited and prices stand the same as at the date of the last report. FOREIGN EXCHANGES By Cable.—Press Association. — Copyright. need. 10.30 a.m. LONDON, Monday. Foreign rates of exchange on November 7, compared with par rates, or as averaged first half of 1914, are:—

BRADFORD TOPS At Bradford the demand for spot lots of all grades exceeds the supply. There is little interest in future deliveries. PRICE OF GOLD Gold is quoted to-day at £4 4s 11 Jd an ounce.—A. and N.Z.-Sun.

LEYLAND O’BRIEN

SATISFACTORY TRADING Despite the reported unstable position of the timber industry directors of the Leyland-O’Brien Timber Company, Ltd., report satisfactory trading for the vear ended September 30, 1927. Net profits for the year is shown in the profit and loss account at £12.692 13s 2d. This, after making full provision for income tax, added to the balance brought forward, leaves £73.784 15s 7d available for appropriation. The directors recommend the payment of a dividend of Is Sd a share (free of income tax), lOd of which was paid last April, directors’ honoraria £6OO, and the carrying forward of £61,184 15s 7d. The company’s annual distribution to shareholders during the last three years has remained unaltered, although the net earnings have fallen considerably. In 1925 the net profit was £21,993, in 1926 £19,322, and in 1927 £12,692 13s 2d. In 1925 the capital of the companv was increased from £BO,OOO to £120,000 by the capitalisation of reserves. Principal assets shown in this year’s balance-sheet are: Sundry debtors, after deducting bad and doubtful debts, £20.436 11s 7d: mortgages, £151.181 9s 2d; bushes and logs, £11,281 2s 7d: War Loan, £IO.OOO. Apart from capital, £120.000. the principal liability is the reserve, including reserve for income tax at £30,171 14s 7d.

SYDNEY WOOL SALES

KEEN COMPETITION By Cable. — Pres a association.—Copyright SYDNEY, Monday. At the Sydney wool sales to-day there was keen general competition lor all descriptions. Prices were unchanged for good and average descriptions, though irregular sorts showed a hardening tendency. Comebacks and crossbreds were in keen request, and realised prices from par to 5 per cent. up. Greasy Merino sold to 313 d, equalling the season’s record. JA. and N.Z.

SOUTHERN EXCHANGES

YESTERDAY’S SALES Press Association. Wellington. —Union Bank (rights), 52s 8d (fw-o parcels); 52s 9d (two parcels); a3s (two parcels); Union Bank (f-ac-tions), Ss 9d; New Zealand Guarantee Corporation, Ss Sd; Gear Meat. 39s 6d. Wellington. —On ’Change New Zealand Government Inscribed Stock, 51 per cent., 1927-1941, £9B 15s: New Zealand ?o^ erl !!7. e , nt . w » r Loan, 5J per cent., jyob, £lOl os; Union Bank of Australia (fractions), Ss 6d and Ss 9d.

COMING AUCTIONS

Messrs. Squirrel and Co. are holding a short notice sale on the premises of the •Star Dining Rooms, 64 Albert Street, tomorrow* (Wednesday), at 11 a.m. The whole of the contents, comprising furniture, furnishings and kitchen utensils will be sold without reserve. Mr. Roy Souirrel is the auctioneer.

FIRMER TONE IN EGGS

MINING NEWS

IN THE MARKET PL^

CHEAPER STRAWBERRY

Strawberries were .:h eac . r . City Marts this morning. ' n th, Ripe bananas were plentiful lower values can be expect#* V for this fruit for some time to' 0 FUt Only two varieties of apni e<s _ Co '*** fered. Sturmers and I>ouchert\ro ** dians were finished but a fSL ment came to hand on the XiU! will be offered to-morrow. * a «*ra Strawberries are coming forward i creasing supplies, and Yhe mar* ,r ‘ • easing accordingly. Gooseberries are also coming market m increasing quantities. ° Ample stocks of ripe ban&nai and the market should be kept plied for some time to come Tk?* s *- consignment is due from Fiii ?*** Tree tomatoes are almost finished In the field and garden produce L most varieties of vegetables are " plied. Heavy supplies of new .‘l *->- : potatoes are now coming to hand * the price, as yet. for the best tuber, is still high from the view of the average householder^* 31 The market for eggs has a and prices are slightly higher. r Prices under the hammer ir. the ,v Marts at to-day’s auctions ran*-a ■ follow*: *** * FRUIT Apples: Sturmers. 12s to 14s fca a „ Dougherty. Ss to 11s 6d. * Ca ** : Pears: Nellis and Cole repacks iv 15s a case; P. Barrys. 9s to w * Oranges: Rarotonga. 22s 6d a case ney Valencias. ISs to 245. ’ Lemons: Local. Ss to 17s a case. Tomatoes: Hothouse. Is to Is Sd , Rarotongan, 12s to 16s a case. * !f> j Tree tomatoes: 5s to 11s a case. Gooseberries: 9s to 12s 6a a case Loquats: 6s to 7s a case. Grapes: Californian, 33s a keg. Bananas: Repacked. ISs to 23s a Strawberries: Is 2d to 2s a chip. * VEGETABLES ; Potatoes: Southern, Ss to 9s 6d a <•*,. new, lld to 25d h lb. * Kumeras: Tauranga. 16s a cwt; i,j w 14s a cwt. Pumpkins: Ordinary. 16s to 27s a cwSwedes: Is 6d to 2s a bag. Onions: ISs to 19s a crate. Cabbage: 3s to Ss a sack. Cauliflower. 4s to 14s a sack. Lettuce: 3s to 10s a case. Prices of butter, eggs and th* smii,** parcelled vegetables will b* found ir ti*.* “Kit Bag’’ column on another pag-v

GOLDEN AGE. —The manager repon? ••We commenced crosscutting the rr?f. \ distance of 6 feet has been driven for the w eek. There is now about 10 feet of quartz exposed ard it appears as if w* are upon the footwall. The quaru looks well.” NEW WAIOTAHI. —The manager reports for the week endec November ’» “The drive hillw’ard for the WaiotahiCambria reef has been advanced Bft. fnr the week, making the total distance Iron the deviation 186 ft.. leaving 114 ft to reach the estimated position of the re?' The last 136 ft. has been through a bar of hard grey andesite.” LUCKY SHOT. —The manager reports “The winze on the footwall of No. 3 reef has been sunk 5 feet for the week, making a total distance of 46 feet Th* country rock continues to be good. Th? drive on the main reef going north-east has been advanced 4 feet for the week The reef here is heavily mineralised and show’s colours and dabs of gold in each breaking down. The winze on the junction of the main reef ard dropper has been sunk 4 feet. The quartz broken out carries a. quantity of fine antimony and silica and in the last breaking down (Sa: urday) strong blotches of gold werALBURN I A.—The manager report?? *« follows: “Driving north or hillward or. the dropper has been extended from ft feet to 30 feet. The leader is maintain ing its size, about 24 inches in width, aw! has all the indications to make value Driving south on the Sons of Freedor reef has been extended from 14 feet t f 24 feet. The reef has split into thro parts and so far we have been able to take them all in the drive. The hangingwall portion is a width of 18 inches, th* centre rib being about 6 inches and the footwall portion is 12 inches wide. It If in the latter portion of the reef wh«r a little gold can be seen at each breaking down and the general indications her* are all that can be desired.”

BANKS— £ a. d. £ s. d. Com. Bank of Aus. 1 9 6 1 8 L0 Eng:., Scot. & Aust. 12 ft Nat. of N.Z 6 19 0 6 Id 0 National Bank (con. S 1' 6 (con.) 8 14 6 New South Wales . . 44 15 ft 44 2 6 New Zealand . . IS 9 18 .0 Ditto (10s paid) .. 0 16 0 Ditto (20s paid) 1 6 0 Union of Aust. (rights) 12 6 Ditto (fractions) . 0 S 6 0 < 6 INSURANCE— New Zealand .. .. 1 IS 9 1 IS 7 South British .. . . 2 16 9 16 0 Standard — 3 1 0 LOAN AND AGRNCt— Abraham, Williams . 4 10 0 Ditto (pref.) .. .. 4 2 6 Farmers’ Co-op. Auc. 3 5 ft Ditto (A pref.) .. 0 18 0 0 16 9 Ditto (B pref.) .. ft 14 10 Goldsbrough, Mort.. S 6 0 Newton King (pref.) 0 12 6 0 10 0 N.Z. and River Plat® 1 8 0 1 7 0 N.Z. Loan, Merc. .. 95 10 0 Ditto (pref.) .. .. — SO 0 0 COAL— Renown (con.) .. .. 0 S •9 ft 8 Hikurangi ft Ditto (pref.) . . . . 0 0 ft 6 Ditto (A pref.) .. ft Pukemiro 3 6 19 0 Taupiri ' . . l 6 6 Ditto (pref.) .. .. 1 0 Waipa 0 16 ft ft 15 Westport — 1 15 0 GAS— Auckland 1 2 9 1 *» Birkenhead and Northcote 0 16 0 — SHIPPING— Devonport Steam . . 1 4 0 1 2 0 Huddart-Parker 7 Northern Steam 0 15 ft ft 14 Ditto (con.) .. .. 0 7 0 6 10 P. and O. (def. stk.) 265 0 0 — TIMBER— National 0 13 ft Taupo Totara .. .. 0 16 0 Ditto (pref.) .. .. 0 17 0 — WOOLLEN— Wellington — 6 1 0 Ditto (pref.) .. .. — 6 2 0 BREWERIES— C. L. Innes (pref.) 1 0 0 N.Z. Breweries .. . . 2 5 6 3 6 J. Staples and Co. .. 1 19 0 — MISCELLANEOUS— Auck. Amuse. Park. 0 17 s 0 16 S Ditto (pref.) . . . . 1 6 0 Burns, Philp .. .. 1 16 6 Bycroft, Ltd 1 9 Checker Taxis . . . . Colonial Sugar (Aus.) 53 10 0 Dominion Pictures 1 0 0 Ditto (pref.) .. .. 1 0 0 Electro. Zinc (pref.) 1 12 6 1 11 9 Gear Meat 0 ft 1 18 6 Grey and Menzles .. 0 12 0 Hamilton Theatres.. 0 18 0 Haywards 0 17 0 Hill and Plummer . . . 1 2 0 H.M. Arcade (pref.) 1 0 0 Milne and Choyce . 1 4 0 Ditto (deb. stk.) . . 1 3 6 1 3 0 Murchison Oil (20s Pd.) ft 18 0 Farmers’ Fertiliser. . 12 ft N.Z. Paper Mills . . 0 17 0 N.Z. Refrig. (con.) 0 8 6 Northern Boot .. .. 0 18 ft Robinson Ice Cream 1 0 Sanford, Ltd. ft 19 G Ditto (pref.) . . . . 1 1 0 1 0 0 Taranaki Oilfields . . 0 12 0 0 11 3 Thames Theatre.. . . 1 0 0 Tonson Garlick ft 10 0 Whittome Stevenson 3 0 Wilsons Cement . . 1 16. 6 1 16 3 MINING— Alburnia 0 2 S 0 2 5 Ballarat (con.) .. 0 2 — Moanataiari (pd.) . 0 6 0 2 1 Ditto (con.) . . . . 0 1 0 0 9 Empire Reefs (con.) 0 0 8 — Golden Age (paid) . — 0 0 2J Ditto (con.) .. .. 0 0 2 Kawarau 0 1 0 0 0 6 Komata Reefs .. .. 0 0 Kuranui 0 « Lucky Shot (2s pd.) 0 •1 8 0 1 Maoriland (con.) .. 0 0 8 Majestic 0 0 4 0 24 New Walotahi (4s pd) 9 Ditto (con.) .. .. 0 0 Si 0 0 7 Occldental-Una (2s paid) 0 ft ft 1 Ditto (con.) . . - • 6 Ohinemuri 0 -6 1 1 Rising Sun Waihi 0 5 0 AUSTRALIAN— Mount Lyell . . . . — 1 7 6 DEBENTURES— AUck. Gas, 1928. 64 101 0 ft 99 0 0 Auck. Harbour Board 4 p.c 0 0 Ditto, 5£ p.c 97 10 0 Ditto, 54 p.c 98 0 ft Ditto. 6 p.c 101 0 0 City of Auckland Ditto. 1943, 51 . . 98 0 0 Auck. Electric Power Board 98 0 0 Auckland Hospital Board, 5a 99 ft 0 98 0 0 Bor. Devonport, 6 p.c. 100 0 0 Ditto. 44 p.c 92 ft ft X.Z. Breweries . . . . 1 3 10 1 8 Glaxo — 90 0 0 GOVERNMENT BONDS War Loan. 1930, 4J — 97 12 G Ditto, 1938, 44 96 15 0 96 7 6 Ditto, 1939, 4 i 96 6 Ditto, 1941, 4§ .. 97 ft 0 Ditto, 1936, 51 .. 101 5 0 100 17 6 INSCRIBED STOCK— War Loan. 1929. 5 .. 98 10 0 Ditto, 1938. 44 — 96 ft Ditto, 1939. 44. .. 96 0 Ditto, 1933, 5a 101 5 ft 100 15 ft Ditto, 1936, 5a 101 o 0 100 15 0

Nov. 7. Nov. 3. Par. Brussels, fr. .. 34.94 34.04 Paris, fr 124.00 124.05 Stockholm, kr. 18.10 18.10 18ll2 a Oslo, knr 18.47 18.46 18.12 Copenhagen, kr 18.17 18.17 18.12 Berlin, r.m. .. . 20.40 20.41 Rome, lire .. 80.1 S 80.12 25.22 A Prague, kr. .. 184J 1842 Calcutta, pee. 18.00 18.00 24 Yokohama. pee 22 13-16 22 29-3^ 5 24.43 Hong-Kong, pee 24 S 24S 24 Montreal, dol. . 4.86 3-1S 4.86i 4.866 New York, dol. 4.87 18-16 4.S6 15 - 16 4.866 Amsterdam, fi. 12.072 12.08 12.107 Batavia, fl. .. . 12.07J —A. and N.Z. 12.081