Markets and Money

Sun (Auckland), Volume I, Issue 220, 6 December 1927, Page 14

Markets and Money

A Review for Business Men

ON THE ’CHANGE ' MINING IN BETTER TONE WILSONS CEMENTS AT 37S Increased interest was taken in mining this morning, and sales were reported in Waihis, Occidental-Unas and New Waiotahis. Waihis have a decidedly firmer tone, while Ohinemuris also register an upward movement. Moanataiaris were done yesterday afternoon at 2s 3d for the paid-up scrip. Government bonds and stocks meet with a steady demand on a firm market, and few sellers are quoting in the call-room. In miscellaneous Wilsons Cement have improved to see sales at 375. Sanfords, with few sellers, are steady and register a slight upward movement. A strong tone is maintained in coals. Hikuxangis continue to register an upward movement, the preference scrip being done yesterday afternoon at 7s 3d. SALES REGISTERED Yesterday afternoon’s business. On ’Change—Wilsons Cement, 375; Moanataiari (paid), 2s 3d. Reported—Commercial Bank, 29s 2d and 29s 3d; South British Insurance, 57s 3d; Hikurangi Coal (pref.), 7s 3d; ditto. A (pref.), 6s 4d. At to-day’s mid-day call: Reported—’Change—Wilsons Cement, 375. Reported—N.Z. War Loan, 1941, 4i per cent., £96 12s 6d. At to-day’s mid-dal call: Reported—Auckland Gas (con.), 16s lOd; Kaiapoi Woollens (ord.), 8s 9d; New Waiotahi (con.), 6Jd; Occidental Una (con.), Is 8d; Waihi, 22s 6d; N.Z. Inscribed Stock, 1041, 5J per cent, £99. MID-DAY QUOTATIONS Closing quotations at to-day’s midday call were:

WOOL PRICES EASIER AT WELLINGTON

DEMAND FOR FINE SORTS CROSSBRED £D TO ID DOWN (Special to THE SUE.) WELLINGTON, Monday. With the exception of hogget wool of good, fine, sound staple, prices for practically all grade* of wool were below the level of those at the November sale at the second of the series for the 1927-28 season, concluded to-day. FOR a catalogue of 25,700 bales bidding was brisk throughout, but it was evident from the start that buyers’ limits were below those of earlier sales. There was a strong demand for super crossbreds suitable for America and Australia, but prices were from par to a halfpenny down on the November rates. Average crossbred wools met with a steady demand from Bradford and the Continent, but values receded to the extent of a halfpenny to a penny. Merino met with keen competition from buyers for Dominion mills, and the market was firm at the rates ruling earlier in the season. Halfreds were competed for by the Dominion mills, France and Bradford. The decline here was a halfpenny to one penny. Bellies and pieces were more in keeping with the relative value of fleece wool. They showed the greatest drop, one penny to a penny halfpenny. The French and Continental demand of last sale, although present, was not pronounced. Lambs’ wool sold well at good figures. Approximately 90 per cent, of the offering changed hands under the hammer. The easing of prices is attributed to the fact that buyers for principals caught short for immediate future requirements have now satisfied their demands, and the market has come back to a more stable basis. Top prices realised were:— Merino: 23d to .25d. Half bred: 22d to 24d. Fine Crossbred: 17d to 18d. Coarse Crossbred: 12d to 13£d. Official Range of Figures The official range of prices was as follows, the rates at the November sale being given for the purpose of compari-

LONDON MARKETS

OFFICIAL RESUME Under date December 3, the High Commissioner for New Zealand cabled frdm London the following market resume:— Tallow. —The spot market it quiet and there is poor demand at auction. Present quotations are: Mutton: Fine, 39s 6d to 40s a cwt.; fair to good, 37s to 395; dark to dull, 35s to 365. Beef: Sweet and or mixed, 39s to 445; fair to good, 36s 6d; dark to dull, 34s 6d to 35s 6d. Mixed: Fair to good, 36s to 38s 6d: dark to dull, 34s to 355. Gut, etc.: 33s to 36s a cwt. Hemp. —The Manila market is steadier. “J” grade December-February shipments sold at £4l ss, closing value, £42. There is more inquiry for afloat shipments and “J” grade sold at £42 10s. Sisal: There is a better tone. No. 1 November-Jan-uary and December-February shipments sold at £36. No. 2 is quoted at £34 15s, but there is less interest in this quality. New' Zealand is quietly steady. Cheap sellers have withdrawn and buyers do not follow the advance. Closing values for December-January shipments are highpoints £34 10s; fair, £32 ss. Oats. —The market is quiet and shippers are not offering good quality. English stocks are scarce; best white making 31s 6d to 335. New Zealand “A” grade Gartons afloat resold at 33s 6d, but now it is reported that shippers are unable to offer. Value of December shipments is 35s c.i.f. Plate new crop, January shipments sold at 34s IOJd.

Wool. —The sales continue. Competition is very keen with strong demand for all grades, and values are fully maintained.

Peas. —The maple market is quiet and the tendency is somewhat easier. There is no inquiry for New Zealand on account of inferior quality, but the nominal value is £l9 to £2O, ex store.

KAURI GUM VALUES

OFFICIAL PRICE LIST

Prices obtained for kauri gum during the fortnight ended December 6 are given by the Kauri Gum Control Board as follow:

White Gum. —Rescraped, 245 s to 2505; seven-eighth scr., 145 s to 150 s; threequarter scr., 125 s to 130 s; white nuts, 70s; white chips and dust, 30s to 355. Black Gum. —Rescraped, 150 s; threequarter scr., 120 s to 130 s; washed steel, 75s to 80s; ordinary black, 34s to 375; good black nuts, 30s to 325; good chips, 23s to 255; poor chipe, 13s to 18s. Chalk. —Hearty swamp, 34s to 40s; swamp, good, 30s to 325; swamp, poor, 26s to 28s. There is practically no demand for ordinary black, and large stocks are on offer without buyers.

, CHICAGO WHEAT

By Cable.—Press Association.—Copyright Reed. 10.15 a.m. CHICAGO, Monday. Wheat.—December, 1 dollar 27 7-8 cents a bushel; March, 1 dollar 32 3-8 cents; May, 1 dollar 33 7-§^cents—A,, and N.Z.

Sellers. Buyers. BANKS— £ s d. £ s. d. Bank of Australasia 14 16 0 14 11 0 Com. Bank of Aus. 1 9 6 1 9 0 Nat. Bank of N.Z. 6 18 0 Nat. Bank of Aust. 17 1 0 New South Wales .. 45 5 0 45 0 0 New Zealand . . .. 2 19 6 2 19 0 Ditto (10s pd.).. 0 16 0 Ditto (20s paid; .. 1 6 0 Union of Australia . 14 5 0 Ditto (new issue) 14 0 0 Ditto (55s pd) .. 6 1 0 5 18 0 INSURANCE— National 0 15 9 New Zealand .. .. 2 0 0 1 19 6 South British .. .. 2 17 6 2 16 9 Standard 3 2 0 LOAN AND AGENCY— Abraham and Williams (pref). . — 4 2 6 Farmers’ Co-op. Auc. 3 2 6 Ditto A (pref.) 0 17 9 0 16 9 Ditto (B pref.) .. 0 14 Goldsborough, Mort. 2 7 9 N.Z. and River Plate 1 7 0 N.Z. Loan, Merc. 99 0 0 Ditto (pref.) .. .. — 80 0 0 COAL— Renown (con.) .. .. 0 10 0 0 8 3 Hikurangi 0 3 10 Ditto, (pref.) 0 7 0 Ditto A (pref) .. 0 6 6 0 6 3 Pukemiro 3 4 6 3 0 Taupiri 1 7 0 1 6 0 Ditto (pref.) .. .. Waipa 0 16 Westport .. .. .. .. — 1 11 6 GAS— Auckland Ditto (con.) .„ .. 0 17 0 0 16 8 Birkenhead and Northcote 0 16 0 Thames 0 12 0 — SHIPPING— Devonport Steam . . 1 5 3 1 4 Huddart-Parker 2 9 0 Northern Steam .. 0 15 0 Ditto (con.) .. .. 0 7 1 0 6 P. and O. (def. stk) 270 0 0 255 0 0 TIMBER— Kauri Timber .. .. National 0 12 Taupo Totara .. .. 0 16 Ditto (pref.) .. .. 0 17 0 WOOLLEN— Kaiapoi Mosgiel 6 16 0 0 8 l Wellington Ditto (pref.) .. .. — 6 5 0 BREWERIES— C. L. Innes (pref.) 1 0 0 N.Z. Breweries Timaru Bre-iveries 0 16 0 MISCELLANEOUS— Auck. Amuse. Park 0 16 9 0 15 Ditto( pref.) .. .. 0 19 6 0 18* British Tobacco 9 By croft, Ltd Checker Taxicab .. 0 19 Ditto (con.) .. .. 0 10 0 Dental and Medical 0 16 0 Dominion Picture* . Ditto (pref.) .. .. l a Electro. Zinc (ord.) 1 11 6 1 10 0 Gear Meat Grey and Menzies .. 0 12 0 0 10 0 Haywards’s Pictures 0 18 3 0 17 6 Iiill and Plummer 1 2 0 H.M. Arcade Theatre Kempthorne Prosser (N.Z. Drug) .. .. 3 7 0 3 6 0 (pref.) 1 0 0 Milne and Choyce . 1 4 6 Ditto (pref.) .. .. 1 4 3 Ditto (B pref.) .. 1 4 3 Ditto (deb. stk.) .. 1 3 6 1 3 0 Murchison Oils (20s paid) 0 16 0 N.Z. Paper Mills .. 0 17 0 MISCELLANEOUS— N.Z. Refrigerating (con.) 0 8 10 0 8 6 Northern Boot and Shoe 0 18 0 Robinson Ice Cream 1 3 0 Sanford, Ltd 1 0 6 0 19 6 Ditto (pref.) .. .. 1 0 7 Taranaki Oilfields .. 0 10 6 0 10 0 Thames Theatre 1 0 0 0 17 Tonson Garlick .. .. 0 11 6 Union Oil 2 0 6 Wairakel, Ltd 0 10 6 0 8 Whittome Stevensons 2 6 0 2 4 0 Wilsons Cement 1 17 6 1 17 0 MINING— Alburnia 0 2 Moanataiari (pd.) .. 0 2 8 0 2 0 Ditto (con.) .. .. 0 1 4 0 1 1 Golden Age (paid) 0 0 2* Kawarau 0 0 7 Komata Reefs .. .. 0 0 3 Kuranui 0 0 6 0 0 3 Lucky Shot (2s pd.) 0 1 5 0 1 4 Maoriland (con.) .. 0 1 3 Majestic 0 0 3i New Waiotahi (4s paid) 0 0 8 Ditto (con.) .. .. 0 0 8 0 0 6 Occidental-Una (2s pd.) 0 2 2 0 1 9 Ditto (con.) .. .. 0 1 9 0 1 6 Ohinemuri 0 6 11 0 6 7 Waihi 1 2 9 1 1 6 Grand Junction .. 0 1 2 0 1 0 AUSTRALIAN— Mount Lyell 1- 9 0 1 8 0 DEBENTURES — Auck. Gas. 1928, 6i 101 0 0 99 0 0 Auck. Harb. Board, _ 85 0 0 Ditto. 55 p.c 98 0 0 Ditto. 6 p.c 102 0 0 City of Auckland, 1943, 55 p.c 98 0 0 Auck. Hospital Bd, 98 0 0 Bor. of Devonport, 6 per cent — 100 0 0 Ditto, 45 per cent. 92 0 0 — N.Z. Breweries .. .. 1 3 8 1 S 4 Hamilton Theatres . 105 0 0 Glaxo — §0 0 0 GOVERNMENT BONDS— War Loan, 1930, 4£ — 97 15 0 Ditto, 1938, 41 .. 96 17 6 Ditto, 1939, 4J .. 96 17 6 Ditto, 1941, 45 .. 96 10 0 Ditto, 1933, 55 101 0 0 Ditto. 1936, 55 •• 101 0 0 Ditto, 1930 5 99 5 0 97 15 0 INSCRIBED STOCK War Loan, 1929, 5 p.c 98 10 0 Ditto, 1938, 4| 96 17 6 Ditto, 1939, 45 -• 96 17 6 Ditto, 1927-41, 54 98 10 0 Ditto, 1933, 55 .. 101 0 0 Ditto, 1936, 5, v, 101 9 0

November. December. Merinod. d. d. d. Super .. .. 25* to 262 25 to 27 Average 23 to 24 215 to 24 Inferior .. 184 to 20 Fine Halfbred— Super . . .. 224 to 263 225 to 25 Average . . 191 to 224 193 to 225 Inferior . . 174 to 19 Medium HalfbredSuper ... 204 to 224 20 to 22 Average . . 19 to 204 194 to 20* Inferior . . 153 to 164 Coarse Halfbred— Super . . . 19 to 21 185 to 203 Average ... 16 to 183 155 to IS Inferior ... 14 to 153 135 to 15 Corriedale— Super . . . 22 to 24 Average . . 19 to 203 1S| to 215 Inferior . . . 16 to 175 Fine CrossbredSuper . . . 17 to 183 17 to 183 Average . . 15 to 171 15 to 163 Inferior . . . 13 to 144 13 to 145 Medium Crossbred— Super . . . 16 to 171 16 to 17 Average . . . 14 to 153 14 to 154 Inferior . . . 12 to 133 12 to 135 Coarse CrossbredSuper . . . 14 to 153 14 to 15 Average . . 124 to 141 12 to 133 Inferior . 10 to 12 10 to 12 Low CrossbredSuper . . . 134 to 141 135 to 145 Average . . Hi to 131 11 to 13 Inferior • . 9 to 11 9 to 10| Hoggets— Super ... 16to 203 14 to 193 Fine .... 15 to 181 14 to 18 Medium . 144 to 17 14 to 164 Coarse . . . 14 to 153 134 to 15 Low .... 12 to 14 12 to 14 Lamb's Down— Super . . . — 17 to 20 Fine . ... — 165 to 19 Merino Bellies and Pieces— Good to super 145 to 175 Low to medium 15 to 18 Halfbred Pieces— 18 Good to super 15 to Low to medium 11 to 14 Crossbred Pieces— Good to super 13 to 174 13 to 16 Low to medium 84 to 124 8 to 115 Crutchings— 95 to 12 Medium to good 94 to 12| Inferior, seedy 61 to 85 6 to 8 Locks—125 Merino . . . — 11 to Halfbred . . 81 to 94 8 to 95 Crossbred . . 61 to Si 6 to S