Markets and Money

Sun (Auckland), Volume I, Issue 230, 17 December 1927, Page 12

Markets and Money

A Review for Business Men

ON THE ’CHANGE

REVIVAL OF FERTILISERS MOANATAIARIS ACTIVE The week closed on 'Change this morning with a strong tone in most sections. One of the morning’s features was the revival of interest in fertilisers, both buyers and sellers coming on the market with quotations registering an upward tendency. Wilsons Cements continue to weaken, and sellers eased a further 3d this morning, and at 37s 6d were supported by buyers at 375. In mining, Moanataiaris are receiving the greatest attention, and small parcels are moving on a market with a firming tendency. A strong list of buyers on a Arm market for Government bonds and slocks found sellers hard to locate. SALES REGISTERED At yesterday afternoon’s call. On ’Change: New Zealand Insurance, £2 Os 9d; Moanataiari (con.), Is sd: Waihi, 22s lOd. Reported: Union Bank i new issue), £l4 ss; Moanataiari i paid), 2s 4d; New Zealand War Loan, 1938, 4i per cent., £97. This morning’s business:—Reported: Wellington Woollen*. £6 7s 6d; Whittome, Stevenson, 48s; Kempthorne, Prosser, 68s 3d; Commercial Bank, 29s 3d. TO-DAY’S QUOTATIONS Closing quotations at this morning’s call were: BANKS— £ s. d. £ s. d Rank of Aust. ..

SOUTHERN EXCHANGES

Wellington.—Yesterday's sales were as follows: Commercial Bank, 29s sd; British Tobacco, S9s; 4J per cent. Stock, I9v>3. £97: 5J per cent. Stock, 1941, £99; Bank of Xew Zealand. 59s (two parcels)' 3d (one parcel); Wellington Woollen (ord.), £6 7s 6d.

SHEEPSKIN SALES

By Cable.—Press Association.—Copyright LONDON, Thursday. At the London sheepskin sales 3,04 S bales were offered, of which 2,035 were Australian and 862 New Zealand. There ■" h good attendance and keen general competition with American, Home and Continental buyers operating. Prices were dearer, compared with the sale on October 27. Merinos, three-quarter fullwoolled. sold at par to 5 per cent, higher, balf-woolled fully 5, Australian crossbred ri ,‘ Vf ' w Zealand 5 to 10 per cent, higher. Pelts and lambskins were very ftraa. A. and N.Z.

FOREIGN EXCHANGES

CONSOLS AND COLONIAL STOCKS By Cable.—Press Association. — Copyright. LONDON, Thursday. The following table gives quotations foi- consols and colonial inscribed stocks, compared with those of December 8:

fHigher. ‘Lower. The Bank of England returns for the week ended December 15, as compared with those for the week ended December S, are as follow: — Dec. 15 Dec. 8. Note circulation .. 137,249,000 136,805,000 Coin 149,907,000 149,709,000 Reserve 32,410,000 31,431,000 Govt, deposits .. 8,721,000 7,434,000 Other deposits .. 101,842,000 109,828,000 Govt, securities .. 41,309,000 37,386,000 Other securities . 54,744,000 65,669,000 Proportion of reserve to liabilities 29.30 27.80 SHORT LOANS AND BILLS Short loans, 3j per cent., same as last week; three months’ bills, 4 5-16; per cent., same as last week. FOREIGN EXCHANGES The following rates on foreign exchanges are current to-day, as compared v/ith the cabled quotations on December 12 and par:—

THE METAL MARKETS (Quotations on Dec. 12 in parentheses) Copper.—Spot, £59 16s 3d (£59 15s TJd); three months, £59 19s 4£d (£59 19s 4id). Lead.—Spot, £22 2s 6d (£2l 17s 6d); three months, £22 8s 9d (£22 55.). Spelter.—Spot, £26 6s 3d (£26 7s 6d); three months, £26 2s 6d (£26 Is 3d). Tin. —Spot, £267 3s 9d (£266 7s 6d); three months, £263 6s 3d (£263 13s 9d). Silver.—Standard, 26!d (26 15-16 d) per oz.; fine, 28 7-8 d (29 l-16d). BRADFORD TOPS At the Bradford market there was a large attendance, but prices were barely maintained: 64’s are quoted at 4s 2d a lb; 60’s, 4s; 56’s, 3s 3d; 50’s, 2s lid; 46’s, 2s; 40’s, Is 10id. WHEAT, FLOUR AND PULSE Wheat.—Cargoes were steady on adverse weather reports from the Argentine, but on later advices of improving conditions closed easier. Buyers were reserved. Ex Forsdale, 52s in bags. Liverpool futures: December, 10s 3Jd per cental; March, 10s 3£d; May, 10s 2£d. The spot trade is slow, with prices occasionally easier. Flour. —Quiet and unchanged. Oats.—Dull. Beans.—Quiet. Peas.—Steady. Sugar.—Granluated, 30s ljd.—A. and N.Z.-Sun.

KAURI GUM BOARD

INCREASING BUSINESS A decision to make inquiries for an additional bulk store was arrived at at this week’s meeting of the Kauri Gum Control Board. This has been brought on by the board’s growing business. In view of the fact that from the start of the New Year the board will control the Issuing of buyers’ and brokers’ licences, it was decided that, the new i-egulations governing the procedure be advertised in the Press immediately they are gazetted. Following a communication from a number of diggers to the effect that certain sections formerly in the Pourua gum reserve were to be leased, it was decided to confer with the Commissioner of Crown Lands on the question.

NEW SOUTH WALES WHEAT

By Cable.—Press Association. — Copyright. SYDNEY, Friday. + u T l ie *i :Dire ?. to r of . Agriculture estimates that the elimination of smut from the New South Wales wheat crops, as the result of scientific research, has added two bushels per acre to the State’s normal wheat yield, or 7,000,000 bushels of a value of £1,750,000.—A. and N.Z.

GERMAN RAILWAYS LOAN

By Cable.—Press Association. — Copyright. BERLIN, Thursday. It is reported that the German Government is negotiating in New York for a loan of £20,000,000 for expenditure on the German State railways.—A. and N.Z.

MELBOURNE PRODUCE

By Cable Press Association. — Copyright. MELBOURNE. Friday. toIMV" 5 311 eaEier tenden cy at 5s 5d Flour.—£l3 to £l3 10s. Bran.—£6. Pollard.— £7 10s. Oats.—4s to 4s 3d. 4s ß 3 a d l to7s sS 6d d ‘° 58 9d: CaPe maltin e. Potatoes.—£4 5s to £5. Onions.— £5.—A. and N.Z.

< 'om. Bank of Aus. 1 9 6 1 9 2 National Bank N.Z. 6 IS 6 New South Wales. 45 12 45 0 Xew Zealand 19 6 19 ft Ditto (10s paid) .. — ft 16 0 Ditto (20s paid) .. — 1 b 0 INSURANCE— 0 Mew Zealand .. .. 0 6 South British .. .. 2 IS 0 2 17 0 LOAN AND AGENCY— Abraham, Williams . 4 2 6 — Ditto (pref.) 4 7 f> Farmers Co-op. Auc. 6 — Ditto A (pref.) .. 0 17 6 0 16 9 Nat. Mort. Agency . 3 14 6 3 1ft 0 N.Z. and River Plate 1 X 0 1 V 0 N.Z. Guar. Corp. .. N'.Z. Loan and Merc 0 9 94 0 0 90 0 0 COAL— Renown (con.) .. .. 0 9 6 Hikurangi 0 4 ft 0 8 Ditto (pref ) -. .. 0 7 « 0 7 Ditto A (pref.) .. 0 6 b 0 6 4 1‘ukemiro 3 1 6 Taupiri 1 7 0 1 a 9 Ditto (pref.) .. .. Waipa GAS— 0 16 6 0 la 9 Auckland 1 3 4 1 3 2 Ditto (eon.) .. .. 0 17 0 0 16 11 SHIPPING — Devonport Steam . 1 4 9 1 G Huddart-Parker 9 Northern Steam — 0 14 9 TIMBER— Kauri Timber .. .. 1 3 0 1 1 0 Parkcr-Lamb .. 0 18 6 — Taupo Totara .. .. 0 16 0 — Ditto (pref.) •• •• 0 17 0 — WOOLLEN— Ditto (pref.) .. .. 0 14 9 11 6 "Wellington 6 8 6 0 Ditto (pref.) .. .. — • t 0 BREWERIES— C. L. Innes (pref.) 1 0 0 N.Z. Breweries .. .. b 0 — Timaru .. 0 16 0 — MISCELLANEOUS— Auck. Amuse. Park 0 16 6 A. J. Entrican (pf.) 0 19 0 — British Tobacco l 19 3 1 IS Bycroft. Ltd 1 12 0 1 9 9 Checker Taxicab .. 0 19 0 Ditto (con.) .. .. 0 1ft 0 Dental and Medical 0 16 0 0 14 0 Dominion Pictures . 1 0 0 Ditto (pref.) .. .. 1 0 0 Electro. Zinc (ord.) 1 11 3 Grey and Menzies .. 0 12 0 Haywards Theatres 0 IS 0 0 17 0 1 2 0 HAT. Arcade . . .. ft ft Ditto (pref) .. .. Kempthorne Prosser — 1 0 3 N.Z. Drug 3 10 0 7 Milne and Choyce . 1 4 Ditto (pref.) .. .. Ditto (B r>ref.) .. 1 4 3 1 4 3 Murchison Oil (20s paid) n 16 ft Farmers’ Fertiliser . 4 ft 6 6 N.Z. Paper Mills . . Northern Boot and 0 17 0 Robinson Tee Cream 1 3 0 Sanford. Ltd. (prefj 1 Taranaki Oilfields .. ft 10 ft 0 9 U Thames Theatre .. 1 0 0 Tonson Garlick .. . 0 1 L Union Oil . .. .. 2 0 6 "VVairakei, Ltd ft in 6 Whittome. Stevenson 7 6 ft W ilsons Cement MINING— 1 17 6 1 17 0 Alburnia ft 2 1 ft 1 7 Moanataiari (paid) ft 2 H ft 2 Ditto (con.) .. .. 0 i b 0 1 Golden Age (paid). 0 0 25 Ditto (con.) .. .. 0 0 Kawarau 0 0 6 tl 0 3 Kuranui .- ft 0 9 Lucky Shot (2s pd) 0 l 5 0 1 Maoriland (con.) . New Waiotahi (4s 0 l 3 — paid) 0 0 9 Ditto (con.) .. .» Occidental-Una 0 0 9 4 0 Vi (2s paid) 0 2 ft 0 1 0 Ditto (con.) .. .. 0 1 1 0 0 10 Waihi 1 3 ft 1 6 Grand Junction.. .. 0 1 2 0 l 0 DEBENTURES— Auck. Gas. 1928, 6} Auck liar. Board, 101 0 0 99 0 0 4 p.c 85 ft 0 Ditto. 6 p.c City of Auckland. 104 0 0 102 0 0 1!»40. 51 p.c 95 1ft 0 Ditto. 1903, 41 p.c. 94 0 0 Bor. of Devonport. 4j P.c 92 ft 0 Ditto, b p.c 100 0 N.Z. Breweries .. .. 1 4 Glaxo 90 0 0 Hamilton Theatres . 103 0 0 — GOVERNMENT BONDS — War Loan. 1900, 41 97 - 5 ft Ditto. 1038, 41 .. — 97 ft 0 Ditto, 1939, 4i ft ft Ditto, 1941. 41 — 9 b 10 0 Ditto, 1933, 51 101 Ditto, 1936, 51 .. — 101 c INSCRIBED STOCK War Loan. 1929, 5 Ditto, 1938, 41 .. _ 97 0 0 Ditto. 1939, 41 Ditto, 1927-41. 51 . 9S Ditto. 1933, 61 101 Ditto. 1936, 5* .. — 101 0 0

Price Variation. £ d. d. Consols, 2i p.c 54 10 0 5 Of British 3i War Loan 100 3 3 0 4 6t British, 5 "War Loan . 101 7 6 6t Conversion Loan, 3i . 7 b 10 0 10 01 Com’wealth, 5*, 1922-27 97 17 6 7 6 f Com’wealth, 6, 1931-41 103 2 6 2 6f New Zealand, 4, 1929 98 6 1 New Zealand, 3 h, 1940 82 12 6 2 6* New Zealand, 3, 1945 78 12 6 Same. N. Zealand, 6, 1936-51 108 7 6 S. Australia, 3i, 1939 8d 10 0 b or S. Australia, 3, 1916 or after 60 15 0 5 0* S. Aust., 6i, 1930-40 104 0 0 Same. Tasmania, Si, 1920-40 83 0 0 0* Tasmania, 3, 1920-40 79 10 0 20 ot Tasmania, 6J, 1930-40 304 0 0 15 0W. Aust., 3i, 1929-35 88 12 6 6* W. Aust., 3, 1915-35 8o 7 6 Same. W. Aust., 6, 1930-40 100 17 6 2 6*

Brussels, belga . Dec. 15 34.90 Dec. 12. 34.90 Par. 5.045 Paris, fr 124.00 124.02 25.225 Stockholm, kr. . 18.08 18.09 18.159 Oslo, kr 18.35 18.34 18.159 Copenhagen, kr. . 18.20 18.20 18.159 Berlin, r.m 20.44 20.45 20.43 Home, lire .. .. 89.95 90.00 25.225 Prague, kr 1642 1645 24.02 Calcutta, pee. .. 18£ 18 k 24 Yokohama, pee. . 223 22S 241 Hong-Kong, pee. 243 243 Montreal, dol. . 4.882 4.8SS 4.8S3 4.866 New York, dol. 4.83 a 4.866 Amsterdam, 11. . 12.07i 12.074 12.10 Batavia, fl. 12.082 12.082 12.10