Markets and Money

Sun (Auckland), Volume I, Issue 267, 1 February 1928, Page 14

Markets and Money

A Review for Business Men

ON THE ’CHANGE MARKET QUIET UNION BANK FIRM The market remains quiet, but prices are well maintained. Banks are well supported. Union Bank of Australia, ex dividend, are firmer, with buyers £l4 Bs, no sellers. In the insurance section New Zealands are well sought after, buyers appearing at 41s; no sellers quoting. Coals still attract the public, and in most cases buyers stand at high figures, with few sellers appearing. Huddart-Parker scrip is also in demand. with buyers at 49s 6d,-no shares offering. Government and local body debentures maintain good prices, with few sellers quoting. SALES REGISTERED At yesterday afternoon’s call:—On ’Change: Wilson's Cement, £1 18s. Reported: Bank of Australasia, £l4 10s; Bank of New Zealand £2 19s; Farmers’ Co-operative Auctioneering, 15s 3d. At this morning’s 10 o’clock call: On 'Change: Ohinemuri Gold and Silver, ord., 6s lid. At the mid-day call:—'Reported: Hfkurangi Coal, pref, 8s: Ohinemuri Gold and Silver, ord, 7s; N.Z. Inscribed Stock, 1933, per cent., £lOl 2s 6d. MID-DAY QUOTATIONS Closing quotations at to-day’s midday call were: Sellers. Buyers. £ s. d. £ s. d.

SOUTHERN EXCHANGES YESTERDAY’S SALES Press Association. Wellington: New Zealand Breweries Bonds, £1 2 S 6d. Christchurch: Australian Bank of Commerce, 33s 6d; National Bank of New £6 *9s; Dalgety and Company, £l3 15s: British Tobacco. 39s Sd; Whitcomb© and Tombs, 69s 6d. Milburn Lime and Cement, TO-DAY’S SALES s. Reported sales: New Zeak taU) BreWerie * < bonds >» *1 2s 6; £1 2s 6d

WITH INVESTORS ON THE ’CHANGE WEEK REVIEWED BANKS IN DEMAND By “NOON CALL.” WEDNESDAY, 9 a.m. Another quiet week has passed ‘’’Attention is confined chiefly to the better classes of ’ and banking scrip and Government and local body debentures have been active. IN banks. New Zealand’s have been N one of the best sellers over the week, being done on a market fluctuating between 59s 3d and 595. Nationals of Zealand were done in Christchurch on Wednesday at £6 16s 6d and, after remaining quiet over the week, finned to see a sale in the same centre yesterday at £6 19s. New South Wales scrip ciuiet at the recent higher market, and sellers at £4B yesterday were unsupported. Nationals of Australasia have registered considerable activity, the <contributing scrip being done up to £* l-s and the ordinaries up to £l7 6s 6d. Insurances are maintained m good tone with New Zealand? and South British, in particular, meeting with a steady demin l the 'loan and finance section, Dal - gety’s, dealt with in Christchurch at £lo 15s yesterday, are slightly easier than at the time of the latest Auckland _ sale, but even at the higher figure, offering a return of £6 3s 3d. the scrip apparently justifies a steady demand. Gas Scrip Firm Certain of the gas shares stand high in investors’ favour, and Auckland and Wellington scrip have been active over the week on a firm market. As an investment the shares certainly have an attraction, and within the last three weeks annual reports issued by the Wellington, Auckland and Napier Gas Companies have revealed satisfactory trading, despite competition from electric power, which warrants the payment of a dividend of eight per cent. . Coals continue in good tone with a strong demand for most shares. Firm buyers of Pukemiros at 63s fail to draw a seller. Hikurangis are firm, the preference scrip being done at Bs. Staples Breweries have been active ovsr the week, frequent business being done at from 41s to 41s 3d. . . The miscellaneous section is quiet and registering little movement. New Zealand Fertilisers are in slightly better tone, buyers coming in yesterday at 81s and sellers asking 83s. Wilsons Cements continue in good tone with a. wellmaintained demand. Taranaki Oils are neglected, and sellers at 10s 6d are unsupported. Mining receives little attention, andrthe market for most shares is lifeless. Government and local body debentures meet with a strong demand, and frequent sales are recorded in all centres at practically unchanged rates. Return on Investment Below is a summary of sales made on the Auckland ’Change for the week ended January 31, giving the approximate return on investment based on the latest dividend- In the case of Government and other redeemable securities the return includes redemption. The first column gives the figures at which the latest sales were made on the Auckland 'Change over the week:— Latest Approx. Sale. Return £ s. d. £ s. d.

LONDON PRODUCE MARKETS Under date London, January 27, the London office of the Bank of New South Wales cabled as follows: Wool, the market continues firm, with an active demand. Mutton, wethers. 4Jd to 7jd, firm; ewes, 4Jd to ssd, steady; lambs, 9Jd to 10Jd, market oversupplfed. Beef, 3£d to 42d, fair demand. Pork, 7d to Bd. Butter, 152 s to 1545, better inquiry. Cheese, 89s to 90s, more doing. Messrs. Leonard and Son, Ltd., report: We are in receipt of the following cable dated January 21, from our London principal, Mr. A. C. Rowson, 35 Tooley Street: —Butter market improving with better demand; finest, 160 s to 1645; other qualities, 156 sto 158 s. New York has advanced half a cent, now 48 cents. Cheese steady, 91s. they have received a cable from Trengrouse and Nathan, Ltd., Tooley Street; —Butter, 1625; cheese, 90s and 91s.

LONDON WOOL SALES METAL AND WHEAT By Cable.—Press Association. — Copyright. LONDON. Monday. At the wool sales 7.764 bales were sold, of which 6.550 were Australian and 1.134 New Zealand. The offering of Merinos was chiefly speculators’ lots. There was a small supply of greasy crossbreds, which met good competition, and prices were fully maintained. The following New Zealand clips brought the prices stated: —Rimuroa, top piece, 23£d; average, 23d; Pouparee, 22id and 20d. BRADFORD TOPS The market is firm with fair inquiry, but the actual business done was small. METAL. PRICES (Quotations on January 26 in parentheses. ) Copper.—Spot, £64 14s 41d (£62 10s 7£d); three months, £62 3s lid (£62 3s lid). Lead. —Spot, £2l 2s 6d (£2l 12s 6d); three months, £2l 12s 6d (£22 Is 3d). Spelter.—Spot. £26 10s (£26 8s 9d); three months, £26 5s (£26 7s 6d). Tin.—Spot, £249 17s 6d (£250 11s 3d); three months, £249 12s 6d (£250 Is 3d). Silver. —Standard, 26£d (26 l-16d) per oz.; fine. 2S 5-16 d. WHEAT Wheat. —Cargoes are dull at a drop of 3d. Buyers are still not attracted. Parcels are in small demand at 3d to 6d easier. Liverpool futures: March delivery, 10s 1 3-Sd a cental; May, 10s 1 3-Sd; July. 10s 1 7-Sd. rr rr r r rr tit rfrr t rr rH rr. rli WHAT LONDON PAYS Latest quotations on the London market of chief interest to New Zealand producers are as follow: BUTTER New Zealand, salted, 152 s to 1535. Danish, 170 s to 172 s on the spot. CHEESE New Zealand, 88s to 90s. Canadian, 98s to 104 s. TALLOW Mutton, fine, 44s 6d to 455. Mutton, fa-ir to good, 38s 6d to 40s 6d. Beef, fine, 39s 6d to 425. Beef, medium, fair to good, 37s 6d to 39s 6d. FROZEN MEAT New Zealand lamb, best Canterbury quality, 10 3-Bd. New Zealand pork, 60lb, to 80lb., 7^d. HEMP Highpoint, £34 10s. Fair, £32. Common, £3l 10s.

BANKS— Bank of Australasia Com. Bank of Aus. 14 12 6 14 9 0 (ex rights) -. .. 0 Ditto, rights .. .. Nat. Bank of N.Z. • 7 0 17 New South Wales .. 48 0 New Zealand 19 18 9 Ditto Mort. (5s pd > Ditto Mort (20s pd) Union of Australia . — 14 S 0 INSURANCE— National 0 15 6 New Zealand .. .. 2 1 0 South British -. .. 18 0 2 16 9 LOAN AND AGENCY— Farmers' Co-op. Auc A (pref), ex div Ditto B (pref). Q 17 6 ex div 0 14 3 Newton King (pref) 0 6 0 10 0 N.Z. and River Plate 1 7 6 N.Z. Guar. Corp. .. 0 9 1 0 8 9 N.Z. Loan and Merc. 91 0 0 Ditto (pref.) .. . . — SI 0 0 COAL— Renown (con.) .. .. 0 15 6 0 13 6 Hlkurangi .. 0 4 0 3 8 Ditto (pref.) .. .. o S Ditto A (pref> .. 0 6 9 0 6 3 Pukemiro Taupiri 1 5 Ditto (pref.) . l 3 0 Waipa •• # .. GAS— — 0 16 Auckland 1 - 3 O Ditto (con.) .. .. 0 17 2 16 10 Birkenhead & North16 SHIPPING— Devonport Steam .. 1 4 6 • Huddart-Parker 2 Northern Steam . . 0 14 11 • 14 Ditto (con.) .. .. Union Steam (pref.) TIMBER— 1 0 6 — 12 Parker-Lamb .. .. 0 Taupo Totara .. .. 0 16 0 Ditto (pref.) •. WOOLLEN— 0 16 0 — Kaiapoi (pref.) .. .. Wellington (pref.) . 0 14 6 6 2 6 BREWERIES— C. L. Innes and Co. (pref.) 1 0 0 J. Staples .. .. .. MISCELLANEOUS— Auckland Amuse- » ment Park 0 14 A. J. Entrican (prel.) 0 19 British Tobacco 2 0 0 Bycroft, Ltd .. .. Checker Taxicab Colonial Sugar (Aus) 56 0 0 55 Dental and Medical 0 16 Dorn. Pictures .. .. Ditto, (pref.) .. .. Electrolytic (pref.) . 6 Grey and Menzies .. 0 12 Haywards Pictures 1 Hill and Plummer .. Milne and Choyce, 1 2 6 deb. stock .. .. N.Z. Farmers* Per- — 1 3 3 tiliser 4 N.Z. Refrigerating .. Ditto (con.) .. .. 0 10 Robinson Ice Cream 2 Sanford, Ltd Ditto (pref ) . . .. Taranaki Oilfields .. 0 10 Thames Theatre .. /* Tonson Oarllck .. .. Union Oil Q g Wairakei, Ltd Whittome, Steven0 10 6 — Wiseman and Son 1 U 15 7 Ditto (ord.) .. .. 0 Wilsons Cement .. 1 18 3 1 17 6 MINING— Alburnia .. .. .. .. Moanataiari (paid) . 0 Ditto (con.) .. .. 0 Golden Age (paid) . 0 0 3 Lucky Shot (2s paid) Maorfland (con.) Mt. Welcome (con ) New WaiotahJ (4s 0 1 0 — Ditto (con.) 10 Ocridental-Una (2s paid) .. .. Ditto (con.) .. .. Ohinemuri 11 Ditto (pref.) .. ... 0 9 11 AUSTRALIAN— Mount Lyell .. .. ... DEBENTURES— Auckland Harbour 1 9 0 Board, 6 p.c City of Auckland. 104 10 0 103 10 0 1940, 51 p.c Borough of Devon99 0 0 — r-ort. 6 p.c Bor. Mt. Eden. 5| .. 100 Ditto, 6 p.c N.Z. Breweries .. .. 1 3 0 Hamilton Theatres . 105 0 0 Glaxo 90 0 0 GOVERNMENT BONDS— War Loan. 1930, 4ft . Ditto, 1938, 4ft .. Ditto, 1939, 4ft Ditto, 3933, 5ft .. 101 15 Ditto, 1936. 6ft . . — IC1 0 0 INSCRIBED STOCK— T\ ar Loan, 3929, 5 . Ditto, 3938, 4ft .. Ditto, 3939, 4J 97 0 96 17 Ditto, 3933, 5ft KM 5 0 Ditto, 1936, 6ft .. 101 7 6 100 15 0

BANKS— Com. of Australia .. 1 9 3 5 2 7 Australasia 14 9 0 4 16 10 New South Wales .. 48 0 0 4 3 4 New Zealand .. .. 2 19 0 4 17 2 INSURANCE— New Zealand .. .. 2 1 0 4 3 4 South British .. .. 2 17 3 3 18 7 LOAN AGENCY— Dalgety and Co .. 13 16 0 6 3 3 Farmers’ Co-op. Auc. B (pref.) .. 0 15 3 7 17 5 COALS— Hikurangi (pref) .. Taupiri 0 1 8 5 0 0 8 0 0 GAS— Auckland Gas 1 3 3 6 17 8 Ditto (15s pd) 0 17 0 7 1 2 Wellington 1 8 0 5 14 3 SHIPPING— Devonport Ferry .. 1 4 0 6 5 0 Northern Steam 0 14 9 7 17 3 P. and O. (def. stk.) 233 0 0 4 5 10 BREWERIES— N.Z. Breweries .. .. 2 1 0 4 17 7 J. Staples and Co. .. 2 0 6 4 18 9 MISCELLANEOUS — Electrolytic Zinc 1 11 9 7 11 2 Milne and Choyce (deb. stk.) 1 3 9 6 14 9 N.Z. Refrigerating 0 18 0 b 11 1 Ditto (con.) .. .. 0 8 9 5 14 3 Wilsons Cement 1 18 0 5 5 3 N.Z. GOVT LOANS— War Loans, 1933. 51 101 2 6 5 4 7 Ins. Stk., 1938, 45 . 97 0 0 4 17 9 Ditto, 1927-41, 5* . 99 0 0 5 7 2 Ditto, 1933, 5J 101 2 6 5 4 7 DEBENTURES— Ak. Har. Bd., 1941, 6 103 0 0 5 13 4 New Plymouth Borough, 1933, 51 97 10 0 5 7 8 N.Z. Breweries 1 2 8 8 16 6