Markets and Money

Sun (Auckland), Volume I, Issue 295, 5 March 1928, Page 12

Markets and Money

A Review for Business Men

ON THE ’CHANGE MINING DEPRESSED BANKS QUIET The week opened on 'Change this morning with a healthy tone in the market for most of the better classes of securities. Banks are steady and quiet. In shipping Devonport Steams continue to meet with a steady demand and sales are recorded at 24s 9d. Mining continues depressed and ldle ’ SALES REGISTERED At this morning’s early call.—On ’Change: Devonport Steam, 24s 9d. At to-day’s mid-day call. —Reported: South British Insurance, 58s 3d; New Zealand War Loan, 1938, 4J per cent., £97 Lss. MID-DAY QUOTATIONS Closing quotations at to-day’s midday call: Sellers. Buyers.

SOUTHERN EXCHANGES SATURDAY’S SALES Press AsaociaHon. Christchurch.—Bank of Adelaide. £9 ss: staples Brewery. 37s 6d: Tooths Brewery. 475: Colonial Sugar, £ES; Mount T.veil. 30s: Commercial Bank of Australia, 27s lOd: New Zealand Insurance ComDi/nedin.—Reported: "Wellington Woollen (ord.), £6 2s 6d. LONDON PRODUCE MARKETS Under date March 5, the Bank of New Zealand has received the following advice from its London office: — Butter, firm, 172 sto 1765. Cheese, firm, 96» to 975. Frozen Meat. —A decline is expected in the market for wethers, high prices causing a check in the demand. The ewes’ market is short of supplies and prices are nominal. The lambs’ market is expected to go lower owing to larger supplies arriving. The beef market is dull. "Wethers, light, 6£d to 7£d; heavy, 5d to sid; ewes, 4£d to s£d; lambs, twos, 9Hd to lOd; eights, 9£d to lOd; fours, 9\d to lOd; lambs, seconds, 9d to 9Jd; ox hinds, 4£d to sd; fores, 3£d to 4d; cow hinds, 4d to 4£d; fores, 3J to 3£d. j

DEMAND FOR FINE WOOLS INVERCARGILL SALE LATE PRICES HOLD Press Association. INVERCARGILL, Sunday. An all-round increase of between lid and 2d a lb, over prices realised here in January was noted at the second wool sale held last evening, when almost 7,000 bales were disposed of. Although the offering was not large, there was a representative attendance of buyers, competition for the best qualities being very keen. The following is the range of prices:— Halfbred—

It will be noticed that values for super half-bred wools touched 28£d, £d ahead of the highest New Zealand price this season for that class of wool. 28Jd was secured for a special lot of half-bred wool at the last Auckland sale. The only time apart from Invercargill when this price was exceeded for any class of wool this season was at Dunedin, when Merino wool made to 28£d. —Co. Ed. FROZEN MEAT PRICES IN LONDON LONDON, Saturday. Sheep.—Canterbury and North Island, new season’s light, 7£d; mediums, 7d; heavy, 53d; Argentine ewes, 4gd. Lambs.—Canterbury, light, 9 7-8 d; medium, 9 7-8 d; heavy, 93d; seconds. 9 l-8d; other selecteds, light, 9 7-8 d; medium, 9 7-8 d; North Island firsts, light, 9 3-8 d; medium, 9 3-8 d; seconds, 9d; Victorian, firsts, B£d; seconds, 7 7-8 d; other States, 7Jd; thirds, 7 l-Bd. Frozen Beef.—Argentine, hinds, SJ. Chilled Beef. —Argentine, fores, 4d; hinds, 7 7-Sd; others unchanged. COTTON, RUBBER, HEMP, ETC. (Last week’s prices in parentheses.) Cotton. —April delivery, 9.95 d (9.95 d March) a lb. Rubber.—Para, 12Jd (12£d) a lb.; plantation and smoked, 133 d <l4d). Jute.—March-April shipments, £29 5s (£29 10s, February-March) a ton. Hemp.—February-April shipments, £33 (£33) a ton. Copra.—February - March shipments, £26 15s (£26 10s) a ton. Linseed Oil.—£2B 10s (£2B) a ton. Turpentine.- I —4os 9d (41s 3d) a cwt.—A. and N.Z. MARKETING BOARD UNEXPENDED SURPLUS By Cable. —Press Association. — Copyright. Reed. 9.5 a.m. LONDON, Sunday. The reductions in the Empire Marketing Board’s estimate of £1,000,000 to £500,000 does not mean its intention to devote less to its campaign, but that advantage has been taken of its unexpended surplus to effect budget economy without reducing publicity.— A. and N.Z. FROZEN MEAT MARKET The New Zealand Loan and Mercantile Company, Ltd., have received from their London office the following cablegram dated March 2: Frozen Meat. —Lamb, 9 5-8 d a lb; fair demand. Mutton, small supplies of light-weight, 7}d a lb; heavy-weight, s£d a lb. BUTTER AND CHEESE Under date March 3 the London office of the Amalgamated Dairies, Ltd., cabled as follows: “Butter.—Unchanged, ‘Anchor’ 1765. firsts 1725; market firm but quieter at advance after active demand. Danish, 200 s f.o.b. Estimated stock in public stores at March 1, 6,000 tons of all. butters; New Zealand stock, 2,840 boxes; week’s deliveries, 1,640 boxes. Retails advancing Monday to Argentine Is Bd. Empire Is 9d, Danish Is lid. “Cheese.—97s to 9Ss; market firm; estimated stocks in the United Kingdom on March, New Zealand and Australian 51,450 crates, Canadian 41,500 boxes, compared with 124,450 crates and 57,500 boxes last year.’’ Under date March 2. W. Weddell and Co., Ltd., cabled as follows: — “Butter.—Danish, 196 s to 200 s; New Zealand, unsalted, 170 s to 178 s; salted, 170 sto 1765; market firm. Cheese.—New Zealand, white and coloured, 96s to 975; market firm. Canadian, white, 104 s to 106 s; coloured. 100 s to 1045.”

£ m d. £ d. BANKS— Bank of Australasia -— 15 0 0 • *om. Bank of Aus. 1 8 3 1 Vat. Bank of N.Z. V 0 0 New South Wales . 47 7 6 19 6 19 3 Ditt ■> 120s paid) . . 1 7 0 l 6 0 t'nion of Australia 14 16 0 UN'SUIUNCENatior al . 0 15 9 0 15 4 New Zealand .. .. 1 3 0 South British . . . . 2 IS 9 2 17 Standard (ex div.) — 3 LOAN AND AGENCY— Farmers' Co-op. Auc - tion :ering 3 7. 6 Natior al Mort. and Agency (ex. div.) 13 Newton King (pref.) 0 12 6 N.Z. aid River Plate — N.Z. Loan and Mere. — 1 97 0 0 COALRenown (con.) .. .. 0 15 0 — Hikuranjri 0 4 2 0 3 9 Dittc (pref.) .. .. 0 7 6 Dittc- A (pref.) . 0 6 3 fakemiro 3 6 0 3 0 0 Taupirl 1 6 6 1 5 9 Ditto (pref.) .. .. 1 3 0 Waipa 0 17 6 0 17 0 GAS— Auckland 1 2 6 1 2 2 Ditto (con.) .. .. 0 16 6 0 16 0 Birkenhead 0 16 0 — SHIPPING — Devonport Steam • 1 5 3 1 4 f. Howard Smith . . . . 1 8 3 Northern Steamship 0 15 3 Ditto (con.) .. .. 0 7 3 0 7 0 Union Steam Ship (pref.) 1 0 3 TIMBER— Bartholomew . . .. .. 1 1 0 — Leyland-O’Brien 1 14 6 National 0 12 Parker-Lamb .. 0 19 Taupo Totara •• .. 0 la 0 — BRE ./ERIE3— C. L. Innes (pref.) t 0 0 — N.Z. Breweries 3 6 1 6 J. Staples & Co., Ltcl — 17 0 MISC ELLANEO US— A. J. Entrican (pref.) 0 19 0 — British Tobacco 0 3 1 19 6 Burns, Philp .. 3 0 1 0 Bycroft, Ltd 1 10 Checker Taxicab Co. 0 19 0 Dental and Medical 0 16 0 Dominion Pictures . 1 0 0 Ditto (pref.) .. .. 1 0 0 Fullers* Pictures .. 0 19 0 Gear Meat .. .. 1 13 3 Grey and Menzies . 0 12 0 1 0 0 0 18 6 Henry Jones Co-op. 1 17 6 1 16 6 Hill and Plummer . — 1 2 6 H.M. Arcade Theatre (pref.) — 1 0 0 Milne and Choyce .. — 1 4 Ditto (pref.) .. .. 1 Dittc. (B pref.) .. Ditto (deb stock) N.Z. Farmers’ Fer. 4 10 4 Northern Boot 0 18 0 Robinson Ice Cream 1 6 1 Ditto (pref.) . . . . 1 1 0 10 6 Tonson Garlick 0 Union Oil Soap and Whit to* ne Stevesons 2 7 5 Wilsons Cement 1 18 0 1 17 MIN IN <3— 0 1 6 — Moanat.ata.~i (pd.) . 0 2 3 0 7 Ditto (con.) .. .. 0 0 4 Kawarau 0 1 0 Lucky Shot (2s pd) Moarilend (con.) —* Mt. Wdcom© (con.) 0 0 — 0 1 3 9i Ditto (con.) .. .. 0 0 7J 0 Ditto (con.) •• •• 4 Ohinemuri 0 Waihf Grand June. 0 1 3 debentures — 103 City of Auckland, 1940. M Bor. Devonport, 6 :.oi 106 Bor. of Hamilton, 6 10b 0 0 101 0 0 Hamilton Theatres 105 0 0 GOVERNMENT BONDS— N.Z Govt. War Loan. 1938, 4i p.c 98 0 0 97 5 0 Ditto. 1939. 4J p.c. Ditto, 1933. 51 P.c. 101 0 0 Ditto, 1936, 51 p.c. — INSCRIBED STOCK— N.Z In a. Stock, 1938. li p.c. .. 5 Ditto, 1939, 4J .. 5 100 15 Ditto, 1936, 51 .. 101 b 0 101

Super . 24 id to 28id Medium . 23’d to 2oi<l Inferior . 20 j d to Mid Super . 13d to 20£d Medium . 16d to 18d Coarse . lod to 16id C oarse Crossbred— Super . lold to 17id Medium .. .. .. . . 15d to Inferior .. .. •• . . 14d to 15id Hoggets— Super . 19id to 21id . 1 lid to Coarse . loid to 17id Extra good . 17d to 19d First crossbred . . . . 14id 16id Second crossbred . . llid to 14id Bellies— First crossbred . . . . 13ad to 15id Second crossbred . . 12id to 13£d Crutchings— First crossbred . . . . 12id to 13id Second crossbred . 7d to 9£d Necks — First, fine . 16id to 18}d Seconds . llid to 16£d Locks Sid to 10id