Markets and Money

Sun (Auckland), Volume I, Issue 216, 1 December 1927, Page 14

Markets and Money

A Review for Business Men

ON THE ’CHANGE

DEMAND FOR BANKS MINING QUIET A firm demand exists on ’Change for all the better classes or securities. In banks, New’ Zealands are meeting with a strong demand, buyers leaving the market at mid-day to-day offering 60s 3d. Most other shares in this section are in good tone. In the loan and financial section New Zealand Guarantee Corporation have improved to see a sale at 9s. Wilsons Cement are firmer and buyers at 36s fail to draw r sellers. The mining section is quiet and practically idle. SALES REGISTERED Yesterday afternoon’s business: On the ’Change.—Bank of N.S.W., £45; N.Z. Guarantee Corp., 9s; Occidental Una (con.), Is 7d; Ohinemuri G. and S., 6s 4d; Waihi, 21s Bd. Reported.— Waihi, 21s 9d; N.Z. Inscribed Stock, 1929, 4 per cent., £96. At this morning’s 10 o’clock call: On the ’Change.—N.Z. Insurance, 40s 3d; Sandford (ord.), 20s; Kempthorne Prosser, 665. At to-day's mid-day call: On the ’Change.—Moanataiari (con.), Is 2d. Reported.—Commercial Bank, 29s Id; Mosgiel Woollens, £6 12s 6d; N.Z. War Loan, 1938, 4i per cent., £96 17s 6d. MID-DAY QUOTATIONS Closing quotations at to-day's midday call were: Sellers. Buyers.

DEMAND FOR CROSSBRED

CHRISTCHURCH WOOL SALE SUPER WOOLS EASIER . Press Association. CHRISTCHURCH, Wednesday. The first of the Christchurch wool sales for this season was held to-day when a catalogue of 13.500 bales, mostly halfbred, was offered. As the sale was the first held in the Dominion at which there was a large offering of the finer classes of -wools, it was generally expected that very keen competition would result. There was nothing remarkable in the way of prices, but in view* of the market in the North Island it was a sound sale. Hogget wool and super classes of fine wools were easier than at Auckland by up to Id a lb, but fine crossbred wool and partieuiarlv pieces, fully maintained the prices obtained at northern sales. In the earlier stages of the sale Continental buyers dominated the position securing the bulk of the first tw catelogues, but thereafter, when the e-reat<=-r quantity of better class wools was local rmlls were very stronglv in evidence andß dford buyers made their presence im PJoved d ?^ ee - America also bought more freely than apparentlv wa c SwiSS * n . th f £orth island. 'Local rellmongers had difficulty in obtaining anything to handle at a profit. FEW LOTS PASSED IN f>i P SSs inerS , did . no ? amount to more than t} n the tota l offering. The bulk of the passings were in the first catalogue and toward the end of the sale "tt'e of the offering was not sold Most of the lots passed in the early were subsequently sold. & „. Tl ? e casing in the values erf the super vools has been attributed to the uncertainty of the shipping position in Australia on account of the watersiders’ dispute. This at least kept one of the promment Australian buyers off the market. Of the Continental buyers France the most prominent, securing a larger share of the offering than anv other buying element. Local mills took a large quantiy of fine wools but the distribution of buying was fairly even. Values were higher by from 2d to 2|d per lb, compared with the March sale and by 4d to 4Jd compared with the opening sale of last year. Some of the specially choice wools showed a bigger margin than this, but they constituted only a small proportion of the offering The top price of the sale was 252 d for 15 bales of fine halfbred. Other sales were, 25$d and 25d. The top Corriedale price was 251 d. The best Merino figure was 25d. Corriedale pieces made up to 231 d, and the top price for fine crossbred was 21Jd. Down wool made up to 22d and medium crossbred to 18£d. Crossbred pieces made to 13id, halfbred bellies to 18$d, fine locks to lid, and halfbred crutchings to 14id. RANGE OF PRICES

LOAN FOR PALESTINE

British Wireless —Press Assn.—Copyright RUGBY, Tuesday. Another overseas loan made its appearranged for the issue of £4,500,000 in 5 per cent, stock of the Palestine Govern--J.S 3u Taq Suj}TiM.aapun oqi ‘■A'&p-oj oon-c ment 'This loan is guaranteed for both principal and interest by the British Government. The price of issue will be 100£ per cent. —A. and N.Z.

COUNTRY SALES

Auctioneering firms report as follows:

The New Zealand Loan and Mercantile Agency Co., Ltd.—Sales were held during the past week at Westfield, Papakura, Kaukapakapa and Whitford. There is a steady demand for all classes of cattle, late values being easily maintained. Dairy cows and heifers, best, made £9 to £l3; others, £5 to £8 15s; aged cows and inferior heifers, £2 10s to £4 15s; bulls, £2 to £7 15s; odd reg. bulls, Jerseys, £7 7s to lOigns; empty cows, £2 5s to £3 17s 6d; yearling to 18-months heifers, best, £3 10s to £6 ss; others, £1 10s to £3 ss; yearling to 18-months sters, £2 10s to £4 ss; 2 to 2 a-year steers, £4 7s 6d to £5 ss; 3 to 3i-year steers, £5 7s 6d to £6 7s 6d; 4 to 4s-j - ear steers, £6 10s to £7 2s 6d: grown steers in forward condition, £7 5s to £8; beef and mutton at fully Westfield quotations.

Alfred Buckland and Sons, Ltd.—During the week we held sales at Westfield, Waitakaruru and Pukekohe, also a clearing sale on account of Mr. E. G. Clark, Waiau Pa. At the two former yards about the usual number of cattle came forward, but at Pukekohe there was an exceptionally heavy yarding. The largest entry this season, upwards of 1,900 head, was penned. There was also a record attendance, buyers being in strong force from far and near. There was a keen demand for all classes of cattle, and practically a total clearance was effected at values which were considerably higher than late sales. Grown steers in forward condition made £8 5s to £8 15s; best 4-year-old steers, £7 10s to £8 4s: other 4-year-old steers, £6 15s to £7 7s 6d; 3 to 4-qear-old steers, £6 to £6 16s; 2 to 3-year-old steers, £4 15s to £6. The advertised yearlings to 2-year-old Polled Angus and Hereford steers were a choice line, and sold at £4 10s to £6 ss; other yearling to 2-year-old steers, £3 10s to £4 15s; empty young cows and heifers. £3 15s to £4 ss: store cows, £2 to £3 10s; cows with calves, £4 to £6 15s; well-bred yearling to 18-months-old dairy heifers, £4 10s to £7; other heifers, £2 15s to £4 ss: heavy prune young cows and heifers. £7 IDs to £9 ss: lighter, £5 10s to £7 7s 6d: boner cows, £3 10s to £5 7s 6d: fat steers. £lO to £l2; heavy bulls, £5 to £8: sound young herd bulls, £5 to £lO 10s: other bulls, £2 10s to £4 15s; best dairv cows and heifers, £ll to £ls: extra to £2l; good cows and heifers, £8 10s to £lO 15s; others, £6 to £8 ss; aged and inferior, £2 10s to £5 15s. Pigs were penned to the number of 737 and sold at ruling price m

BANKS— £ s. d. £ s d. Com. Bank of Aust. 1 9 2 1 8 6 6 19 0 6 16 0 N.S.W o 10 0 45 0 0 New Zealand . . 3 0 6 0 3 Ditto (10s pd) 0 16 0 Ditto (20s pd) . . 1 6 0 Union of Australia . 14 5 0 Ditto, new issue .. 14 0 0 Ditto (55s paid) .. 6 1 0 * 18 0 INSURANCE— New ; Zealand 2 0 6 2 0 South British .. .. 17 6 2 16 9 Standard — 3 1 6 LOAN AND AGENCY Abraham and Williams (pref.) .. .. 4 6 Dalgety and Co. 13 0 0 Fanners’ Co-op. Auc. (A pref.) 0 18 0 0 16 9 Ditto B (pref.) .. 0 14 9 Goldsbrough, Mort . S 0 Nat. Mortgage . . .. 14 6 3 10 0 N.Z. and River plate 1 7 0 N.Z. Loan and Merc. 94 0 0 Ditto (pref.) .. — 80 0 0 COAL— Renown (con.) .. 0 10 0 0 8 2 Hikurangi 0 3 10 0 3 7 Ditto (pref.) .. 0 10 Ditto A (pref.) . . 0 7 0 6 0 0 Pukemiro 0 6 Taupiri 1 7 0 1 6 3 Ditto (pref.) .. .. 1 3 0 Waipa 0 16 0 0 15 8 Westport — 1 10 0 GAS— Auckland 1 3 6 1 3 0 Ditto (con.) .. . . 0 17 0 0 16 8 Birkenhead and North cote 0 16 0 0 12 0 Thames .. 0 12 0 SHIPPING— Devonport Steam . . 1 6 0 1 4 0 Northern Steam 0 15 0 Ditto (con.) .. .. 0 7 1 0 6 8 Union Steam .. .. — 0 ID 9 TIMBER— Kauri Timber . . .. 1 National 0 12 0 Taupo Totara .. .. 0 16 0 Ditto (pref.) .. .. 0 17 0 — WOOLLEN— Kaiapoi 0 9 0 0 8 Mosgiel 10 0 W ellington 6 3 0 Ditto (pref.) .. — 6 4 9 BREWERIES— C. L. Innes (pref.) 1 0 0 N.Z. Breweries .. .. — 2 1 MISCELLANEOUS— Auck. Amuse. Park 0 16 9 0 16 0 Ditto (pref.) .. .. 0 19 6 0 18 6 British Tobacco 14 0 2 13 0 Burns, Philp .. .. 1 18 0 1 16 9 Bycroft, Ltd. *. 1 9 6 Checker Taxicab .. 0 19 0 Ditto (con.) .. .. 0 10 0 Colonial Sugar (Aus) 54 10 0 Dominion* Picture* . 1 0 0 Ditto (pref.) .. .. 1 0 0 Donaghy’s Rope .. * 1 13 0 Dunlop Rubber . . .. l 6 0 Electro. Zinc (ord.) 1 1 6 1 10 0 Gear Meat 1 18 6 Grey and Menzies . . 0 12 0 0 10 0 Hamilton Theatres . 0 14 0 Hayward’s Pictures (ex div.) 0 18 9 0 17 6 Hill and Plummer 1 2 0 H.M. Arcade Theatre (pref.) 1 0 0 Milne and Choyce . Ditto (pref.) .. .. 1 Ditto (B pref.) .. 1 4 3 Ditto (deb. stk.) 1 Murchison Oil (20s pd.) 0 IS 0 N.Z. Paper Mills (ex 0 17 0 N.Z. Refrigerating . 0 16 6 Ditto (con.) .. .. 0 S 9 Northern Boot and Shoe 0 18 0 Robinson Ice Cream 1 3 0 Sanford, Ltd 1 0 S 0 19 6 Ditto (pref.) . . .. 1 0 3 Taranaki Oilfields .. 0 11 Thames Theatre l 0 0 Tonson Garlick .. .. 0 11 6 0 10 0 Union Oil 2 0 6 Wairakei, Ltd 0 10 Whittome Stevenson 6 0 3 9 Wilsons Cement 1 lb 0 MINING— Alburnia 0 2 2 0 1 10 Moanataiari (pd.) .. 0 2 8 0 2 0 Ditto (con.) .. .. 0 1 3 0 1 0 Golden Age (paid) 0 0 25 Ditto (con.) .. .. 0 0 2* Kawarau 0 1 0 0 0 6 Komata Reefs .. .. 0 0 3 Kuranui 0 0 6 Lucky Shot (2s pd.) 0 1 0 1 Maoriland Con. (con) 0 1 3 Majestic 0 0 34 0 0 2 New Waiotahl (4s paid) 0 0 8 Ditto (con.) .. .. 0 0 8 0 0 5 Occidental-Una (2s paid) 0 1 0 Ditto (con.) .. .. 0 1 0 6 6 Waihi Grand June. 0 l 0 0 9 Blackwater 0 1 3 0 0 9 AUSTRALIAN— Mount Lyell 1 2 9 1 8 3 DEBENTURES— Auck. Gas, 1928. 6J 101 0 0 99 0 0 85 0 0 Ditto. 5i p.c 98 0 0 Ditto. G p.c 102 0 0 1 'ity of Auckland. 1943. 5 1 p.c 98 0 0 Ditto, 6 p.c 102 10 0 3 02 0 0 Auck. Electric Bd. 98 0 0 Auck. Hospital Bd. 98 0 0 Bor. of Devonport, 6 p.c 100 0 0 Bor. of Hamilton. 6 per cent 103 0 0 101 0 0 N.Z. Breweries .. .. 1 3 9 90 0 0 Hamilton Theatres . 105 0 0 — GOVERNMENT BONDS— War Loan. 1930, 4i . _ 97 15 0 Ditto. 193S, Ah 96 lb 0 Ditto, 1939, 4£ 96 15 0 Ditto, 1933. ol mo 15 0 Ditto, 1936, 5i .. — 101 0 0 INSCRIBED STOCK— War Loan, 1929, 5 .. 98 10 0 J'litto, 193S, 45 96 15 0 Ditto, 1939, Ah .« 96 15 0 Ditto, 1933, 5 h t — 101 0 0

The following was the 1 Merino— • d. d. Super 23£ Average 21§ Inferior 19 Corriedale— Super .. . 22 to 25* Average . 19a to 21§ Inferior . 17 to 19 Fine Halfbred— Extra super 24 to Super . 211 to 23§ Average 19 to 21 Inferior . it; to 1S| Medium Halfbred— Average . is; to 192 Super . . is; to 193 Inferior . 16 to IS Coarse Halfbred — Extra super . 19; to 202 Super . IS to 19* Average . 15 to Fine Crossbred— Super * • • • . ie; to 173 Inferior - • . 13* to Medium Crossbred— Super . 15; to 16a Average 15* Coarse Crossbred — Super 12; to . h; to Merino Bellies and Pieces— 21* Good to super .. . Low to medium .. .. 15 to is; Halfbred Bellies — Good to super .. . . Id to Low to medium .. . Halfbred Pieces — Good to super . 1 S :-i to Low to medium .. • . 13 to Crossbred Bellies and Pieces— 16 Good to super 13 to Low to medium .. . . 10 to Medium to good . . . Inferior and seedy . 7 to Crossbred 6; to