Markets and Money

Sun (Auckland), Volume I, Issue 215, 30 November 1927, Page 14

Markets and Money

A Review for Business Men

u ON THE ’CHANGE STEADY MARKET INSURANCE FIRM A healthy tone still prevails on the market, although few sales have been recorded to-day. Bank shares are firm and in most cases at advanced prices, Bank of New South Wales stand ex dividend with buyers £44 10s, no sellers, while Bank of New Zealand scrip remains steady with buyers 60s, sellers 60s 9d. In the insui'ance section New Zealands are sought after at 40s with sellers appearing at 41s. Standards also remain firm with buyers 61s 6d, no sellers. • Coals generally are in demand with few sellers appearing. Mining market remains quiet, Waihis are slightly firmer .with buyers at 21s 6d, sellers 21s 9d. All debentures and Government securities are eagerly sought after. SALES REGISTERED At yesterday afternoon’s call.— On ’Change: Bank of New Zealand, £3 Os 3d; New Zealand Breweries, £2 2s; Hamilton Theatres, 15s. Reported: New Zealand . Insurance, £2 Os 3d; Caledonia Kuranui Moanataiari (con.). Is 2d; Occidental-Una United (con.), Is Sd. MID-DAY QUOTATIONS

Ditto! 1933, 5 1 .. 101 10 0 100 15 0 Ditto, 1336, »i « itol • •

BUTTER MARKET

With Investors on the ’Change THE WEEK REVIEWED HEALTHY TONE IN MARKET (By NOON CALL) Wednesday, 9 a.m. While the volume of business recorded on all New Zealand ’Changes over the week has been limited, the market generally is in good tone and it is apparent that there is a considerable amount of activity outside the call rooms. With the demand confined chiefly to a few favourites at the moment, reported sales every now and again give little indication of the actual business being put through. Again, while recorded sales show a decrease. there has been practically no falling off in the demand for many of the better -classes of securities. The tendency has, in fact, been the other way, the market for many shares having a firm tone. In banking, for instance, New Zealands, which could be bought for 59s 9d on Wednesday of last week, have hardened to see sales at 60s 3d yesterday morning and firm buyers at 60s. New South Wales remain firm and tlmugh not quoted yesterday there is no indication that the market is likely to ease in the near future. The demand for Commercials has slackened off and no sales of this scrip have been recorded over the period. Steady buyers of Unions draw only isolated sellers. Few sellers of insurance shares can be located and quotations for the most part are left to buyers. Standards over the week were reported in Christchurch at 625, New Zealands were done in Auckland on Friday at 40s, and again on Saturday at that figure, while South British, done yesterday morning at 575, were the only other shares recorded as dealt with in this section over the w§ek. Apart from a sale of Dalgety’s at £l3, and two of the National Mortgage at 725, the loan and finance section has been practically neglected, though there is little alteration in the market price of any of the scrip. Keen Demand for Coals The coal section is one of the firmest on the list. Strong buyers are in for practically all shares, with sellers hard to locate. The tendency for most shares is upward. Hikurangis give nse to greatest comment, Improving from a market around 2s 9d a little more than a fortnight ago, to see sales this week at 3s Bd, and buyers leave the 'Change yesterday offering 3s 7d. Reports to hand indicate that ultimately these shares will come into their own, and even though there are substantial liabilities to be met before anything in the way of dividends will come the way of the ordinary shareholders, the company is reported to be maintaining its output on practically the same level indicated in the last halfyearly statement of accounts. Thus it is hard to see that good dividends will not. shortly become available. Apat't from Hikurangis, Taupiris (ord.) are the only other shares in this section that have been dealt with over the week. Auckland Gas Firm Auckland Gas have also been on the up grade over the week and sales of the ordinary scrip have been made up to 23s 3d. One sale of the contributing scrip was put through at 16s 9d. At these figures it is hard to see why the contributing shares are not the best buying, when it is considered .that they are only Is 9d ahead of their paid-up value, against the premium of 3s 3d necessary to secure the ordinary scrip. On the present market both lots return approximately £7, assessed on late dividends. The woollen section is quiet and practically neglected. The 17s paid Kaiapois were done in Christchurch on Wednesday at 8s 6d, and Wellingtons are sought by steady buyers at £6 3s and £6 4s for the ordinary and preference scrip respectively. At this figure the buyer, working on a basis of recent dividends, is assured of a return of approximately £8 Is 6d on his investment. In breweries, New Zealands have improved from two sales at 40s in Christchurch on Wednesday last to be done at 41s 6d in Auckland yesterday and 42s in Dunedin. Miscellaneous Section Quiet Miscellaneous shares have shown little noteworthy movement over the week and attention continues confined chiefly to a few special favourites. The slight activity in Sanfords registered over the past month has quietened down, and though there is no actual weakening in the market, sales have fallen off. Hayward's Pictures have brightened up during the last fortnight -and the 'Change closed at midday yesterday with sellers at 19s 6d, supported by buyers at 18s-. • Taranaki Oils continue firm and were done yesterdav at 11s. Wilsons Cement still stand high in investors’ favour and buyers were offering 35s 9d yesterday. On a basis of actual recent dividends this offers a return of approximately £5 12s. Though many eyes have been turned to mining to provide some excitement before Christmas, .as yet nothing in the form of a boom has taken place. Occidentals haye, firmed. up over the week, following the news of better prospects from the mine, but nothing sensational has eventuated, though it is looked for daily in some quarters. Other shares in this section are mostly idle and depressed, offer l ng poor p inspects even for a gamble. A healthy tone has been given the market by the steady demand which has set m for gilt-edged securities, backed up by frequent business in all ’Changes. Auckland investors have registered considerably more activity in this section. FOREIGN EXCHANGES By Cable.—Press Association.—Copyright. LONDON, Monday. The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on November 24 and par:— „ , , Nov. 28. Nov. 24. Par. Brussels, belga . . 34.91 34.94 5 045 Paris, fr 124.02 124.03 25.225 Stockholm, kr. . . 18.10 18.10 18.159 Olso, kr 18.33 18.35 18.159 Copenhagen, kr. 15.20 18.19 15.159 Berlin, r.m. . . . 20.43 20.42 20 43 Rome, lire .... 89.67 59.55 25 225 Prague, kr 164?. 164 i 24.02 Calcutta, pence . . 18.00 18.00 24 'Yokohama, pence 22g 22 9-16 24J Hong-Kong. pence 27 7-16 24i Montreal, dol, . . 4.57 5-16 4.86 15-16 4.866 New York, dol.' .4.8713-16 4.87 11-16 4.866 Amsterdam, fl.. . . 12.075. 12.07 g 12.10 Batavia, fl 12.05| 12.05 g 12.10 THE METAL MARKETS (Quotations on Nov. 24 in parentheses.) Coppei*.—Spot, £59 6s IOJd (£SB ISs lid); three months, £59 10s 7id (£59 3s lid). Lead.—Spot, £2l 12s 6d (£2l 7s 6d); three months, £2l 18s 9d (£2l 13s 9d). Spelter.—Spot. £26 15s (£26 11s 3d); three months, £26 6s 3d (£26 3s 9d). Tin.—Spot, £267 Is 3d (£265 17s 6d); three months, £265 11s 3d (£263 17s 6d). Silver.—Standard. 262 d (26 9-16 d) an ounce; fine, 27 l-16d (28 11-16 d). WHEAT Wheat. —Cargoes are dull and prices not changed. Parcels are' in moderate demand at a decline of from 3d to 6d. Ex City of Windsor, 52s 9d. Liverpool futures: December Aplivery, 10s 5?.d a cental: March. 10s 45a; May, 10s 3*d. P. AND O. SHARES P. and 0., deferred stock, is quoted at £267.—A\ and' N.Z.-Sun. QHICAGO WHEAT By Cable. —Press Association . — Copyright. Heed. 10.9 a.m. CHICAGO, Tuesday. Wheat.—December, 1 dollar 27| cents a bushel; March, 1 dollar 31| cents; May, 1 dollar 33g cents. —A. and X.Z.

Mr. G. Paviour-Smitlj has received the following market report, dated November 29. from his London prinicpals, the AngloContinental Produce Company, Ltd.:— “Butter: Market very slow. New Zealand. Au*ualiaa« i*o*,

Closing quotations at mid-day to-day were: — Sellers. Buyers. BANKS— £ a d. £ s d. Com. Bank of Aust. 1 9 3 1 8 6 Eng-., Scot. & Aust. 12 6 Nat. Bank of N.Z. 6 19 0 6 36 0 N.S.W. (ex. div.) .. 44 10 0 New Zealand . . 0 9 0 0 Ditto mort. (10s. Pd.) 0 16 0 Ditto mort. (20s. pd.) 1 6 0 Union of Australia . 14 11 0 '14 b 0 Ditto, new issue .. 14 0 0 Ditto (55s paid) .. 6 1 0 5 17 0 INSURANCE— New Zealand .. 2 1 0 2 0 0 South British .. .. 2 18 0 2 16 9 Standard — 3 1 6 LOAN AND AGENCY— Abraham and Williams (pref.) .. .. 4 6 Dalgety and Co. . . 12 19 0 Farmers’ Co-op. Aue. 3 6 Ditto A (pref.) .. 0 18 0 0 16 9 Ditto B (pref.) .. 0 14 9 Cioldsbrough, Mort . 2 8 0 Nat. Mortgage .. .. v 3 14 6 10 0 N.Z. and River Plate 1 Q N.Z. Guar. Corp. . . 0 9 0 0 S 5 N.Z. Loan and Merc. 94 0 0 Ditto (pref.) .. .. — SO 0 0 COAL— l Renown (con.) .. ... 0 8 3 Hikurangi 0 3 10 0 3 7 Ditto (pref.) .. .. 0 6 10 Ditto A (pref.) .. 0 7 0 6 0 0 Pukemiro 1 7 0 1 6 0 Taupiri 1 7 0 1 6 3 Ditto (pref.) .. .. 1 3 0 Waipa 0 16 0 0 15 9 "Westport — 1 10 0 GAS— Auckland 1 6 1 - 1 Ditto (con.) .. .. 0 17 0 0 16 7 Birkenhead and Northcote n 16 0 0 12 0 Thames 0 13 0 — SHIPPING— Devonport Steam .. l K 0 1 4 0 Northern Steam 0 15 0 0 14 9 Ditto (con.) .. .. 0 7 1 0 6 8 P and O (def stk) 270 0 0 Union Steam (pref.) — 0 19 9 TIMBER— Kauri Timber .. .. 1 4 0 National .• 0 12 n Taupo Totara, .. .. 0 16 0 Ditto (pref.) .. .. 0 17 0 — WOOLLEN— Kaiapoi 0 S Wellington — 6 3 0 Ditto (pref.) .. .. — 6 4 6 BREWERIES— C. L. Innes (pref.) 1 0 0 N.Z. Breweries .. .. — 2 0 0 MISCELLANEOUS— Aucfc. Amuse.. Park 0 16 9 0 16 0 Ditto (pref.) 0 19 6 0 18 3 British Tobacco .. .. 14 2 13 0 Bycroft, Ltd 1 9 6 Checker Taxicab .. 0 19 0 Ditto (con.) .. .. 0 10 0 Colonial Sugar (Aus) 54 10 0 Dental and Medical 0 16 0 Dominion Picture* . 1 Ditto (pref.) .. .. 1 0 0 Donaghy’s Rope 1 13 0 Electro. Zinc (ord.) 1 31 6 Ditto (pref.) .. .. T 12 6 Gear Meat 1 IS 6 Grey and Menzies .. 0 12 0 Hamilton Theatres . 0 14 0 Hayward’s Pictures. 0 39 0 0 18 6 Hill and Plummer 1 0 H.M. Arcade Theatre (pref.) 1 0 0 Kempthorne Prosser 3 6 6 3 4 9 Milne and Choyce . 1 4 6 Ditto ( pref.) . . .. 1 4 Ditto (B pref.) .. 1 4 3 Ditto (deb. stock) 1 3 6 1 3 0 Murchison Oil (20s pd.) 0 16 0 N.Z Paper Mill* .. 0 17 0 N.Z. Refrigerating . 0 16 9 Ditto (con-.) .. .. 0 8 7 0 8 4 Northern Boot and Shoe 0 18 0 Robinson Ice Cream 1 3 0 Sanford, Ltd 1 0 6 Ditto (pref.) .. .. 1 0 Taranaki Oilfields .. 0 11 0 0 10 3 Thames Theatre 1 0 0 Tonson Garlick .. .. 0 11 6 0 10 0 Union Oil 2 0 6 W r airakei, Ltd 0 10 6 0 8 0 Whit.tome Stevenson 6 0 2 3 9 Wilsons Cement 1 17 0 1 15 9 MINING— Alburnia 0 2 3 0 1 9 Moanataiari (pd) .. 0 2 7 0 Ditto (con.) .. .. 0 1 2 0 1 1 Golden Age (paid) 0 0 2d Ditto (con.) .. .. 0 0 2 h Ivawarau 0 0 6 Komata Reefs .. .. 0 0 3 Kuranui 0 0 6 Lucky Shot (2s pd) 0 1 0 1 1 Maoriland Con. (con) 0 1 Majestic 0 0 3d 0 0 New Waiotahi (4s paid) 0 0 8 Ditto (con. 1 ) .. . . 0 0 S 0 0 o Occidental-Una. (2s paid) 0 1 0 1 9 Ditto (con.) .. .. 0 1 9 0 1 7 0 6 6 0 6 Waihi Grand June. 1 1 9 1 1 6 Blackwater 0 1 3 0 0 9 AUSTRALIAN— Mount Lyell 1 9 3 1 8 6 DEBENTURES— Auck. Gas, 1928, 6J 101 0 0 99 0 0 Auck. Har. Board, 85 0 0 Ditto, 52; p.c 98 0 0 Ditto, 6 p.c 102 0 0 City of Auckland, 1943, 5i p.c 98 0 0 Auck. Electric Bd. 98 0 0 Auck. Hospital Bd. 5h P-c 98 0 0 Bor. of Devonport, 4i pep cent 92 0 0 Ditto, 6 per cent. . 100 0 0 Bor. of Hamilton, 6 per cent., 1944 .. 103 0 0 101 0 0 Booth-Macdonald .. 0 0 Hamilton Theatres . lOo N.Z. Breweries .. .. 1 3 9 Glaxo — 90 0 0 GOVERNMENT BONDS— War Loan, 1930, ii . — 97 15 0 Ditto, 1938, 4i .. 97 0 0 96 lb 0 Ditto, 1939, 4i 96 15 0 Ditto, 1941, 41, . . . . 97 0 0 96 0 0 Ditto, 1933, 5i 100 15 n Ditto. 1936, 5J - - — 101 0 0 INSCRIBED STOCK War Loan, 1929, 5 .. — 98 10 o Ditto, 1938, 4 1, — 96 15 0 Ditto, 1939, 41 — 96 15 0