Markets and Money

Sun (Auckland), Volume I, Issue 296, 6 March 1928, Page 12

Markets and Money

ON THE CHANGE INCREASED ACTIVITY PUKEMIRO COALS FIRM Increased activity was registered on ’Change this morning, when sales were put through in several sections. In banks, New Zealands are firm and were dealt with at 59s 3d leaving thfc ’Change at mid-day with sellers asking 59s 9d and buyers in at 595. Quotations for New South Wales have been withdrawn. In coals Renowns are slightly weaker following the announcement of the need of new capitol, and sales are recorded at 13s. The market dropped back this morning to see a fairly strong demand at from 12s to the midday closing rate of 12s 6d. Pukemiros are. if anything, slightly firmer, buyers offering 63s 6d and sellers firm at 665. Mining continues almost neglected. Moanataiaris were dealt with at Is lOd while Mount Lydia remain in good tone with the latest sale registered at 30s. , Greater activity is registered in Government bonds and stocks, and steady business is being put through. SALES REGISTERED Yesterday afternoon’s business:—On ■Change: New Zealand War Loan, 1938, per cent., £97 15s. Reported: New Zealand Inscribed Stock, 1936, 5£ per cent., £101: Staples Breweries, 37s 6d. At this morning’s 10 o’clock call: On ’Change: Bank of New Zealand, 59s 3d; Union Bank. £l4 14s. Reported: Mount Lyell, 30s; New Zealand Breweries. 425; Union Bank, £l4 14s. At to-dav’s mid-day call: —Reported: Renown Collieries, 13s; Moanataiari (paid). Is lOd; New Zealand Inscribed Stock, 1938, 4i per cent., £97 10s. MID-DAY QUOTATIONS Closing quotations at to-day’s mid-

A Review for Business Men

IN THE MARKET PLACE DEMAND FOR PEARS EGGS DEARER A quiet tone prevails In the city marts, with steady trading in most departments. Supplies of Bon Cretian pears are falling away and available offerings meet with a firm demand at increased prices. Louis Bons and Packems are beginning to come forward in better quality lots. First-grade tomatoes meet with a firm demand, though poorer sorts are not sought after with any enthusiasm. Shorter supplies of ripe bananas have brought about a firmer tone in the market for this fruit over the past three or four days. Little movement is recorded in the field and garden produce sections. It is too early yet for the effect of the recent rains on growth to be registered in the supplies of green vegetables coming forward, though it is expected that lettuces will be more plentiful within the next three weeks. Most of the stocks of potatoes are now being drawn from the South, but even from there the quality is not coming up to expectations, small tubers predominating. Eggs have contributed the greatest movement to the marts, firming 2d to 3d a dozen over the week. Moderate supplies are meeting with a firm demand. Quotations received from the city marts this morning ranged as follows: Fruit Apples.—Gravensteins, choice coloured, 4s 6d to 6s 6d a case; cookers, 3s to 4s 6d; Willie Sharpes, 3s to 4s; Munroes, 4s to ss. Pears.—Bon Cretien, firsts 9s to 11s a case, seconds 5s to 6s 6d; Packem's Triumph, 7s to 8s 6d; cooking pears, 3s to ss; Louis Bons, 9s to 11s. Plums.—ss to 7s 6d a case. Peaches.—Golden Queens, 4s 6d to 8s a case; others, 4s 6d to 5s 6d. Tomatoes. —No. 1,6 s to 12s 6d a case; seconds, 3s to 5s 6d. Lemons.—Locals, 10s to 20s a case. Grapes.—Hamburgs, 9d to Is 3d a lb; Colemans and others. Is to Is Bd. Oranges.—Am.%ican, 26s to 365; Jaffas, 10s to 30s. Bananas. —Repacks, 22s 6d to 26s a case; seconds, 12s to 15s. Cape Gooseberries.—sd to 6d a lb. Passions.—Cs to 9s a box; seconds, 3s to 4s. Vegetables Potatoes.—Good Southern and Hawke’s Bay, 12s to 14s a cwt; locals, 3s to 6s a bag. Onions.—Locals, 5s 6d to 6s 6d a bag. Kurneras.—3d to 4d a. lb. Cabbage.—ss to 12s a sack. Swedes.—ss to 7s a bag. Pumpkins.—Best quality, 18s to 20s a cwt; others, 10s to 15s a cwt. Green Peas.—los to 15s a bag. Beans.—los to 16s a bag. Lettuce.—4s to 9s a case. Prices of eggs and the smaller-par-celled vegetables will be found in the Kit Bag column on another page. BUTTER AND CHEESE OFFICIAL QUOTATIONS MARKET FIRM Under date March 2 the London office of the Dairy Produce Control Board cabled as follows: Butter New Z aland, salted, 170 s to 1765, unsalted, 17cs to 178 s; market firm, d liveries of New Zealand this week, 1,640 tons: in store, 2.8-10 tons. Australian—Finest s:; -d ! :?s to 168 s unsalted, 164 s to ICGs 168 s. Argentine —Finest unsalted, 154 s to 158 s to 160 s Danish. —196 sto 200 son spot: 195 sto 196 s f.o.b Dutch.—Creamy unsalted, 194 s to 196 s Siberian.—l6os. Polish.—l66s to 168 s. Retail prices.—New Zealand, Is 9d; Danish, Is lid. Estimated stocks of all butters in public stores on March 1 were 5,841 tons, compared with 10,121 tons at the corresponding date of last year. Cheese New Zealand.—White and coloured, 96s to 975, up to 98s; market firm. Canadian.—Finest white, 104 s, 106 s to 108 s; coloured, 100 s to 104 s. English.—Finest farmers, 132 s to 134 s (scarce). Retails expected to advance to Is Id per lb next week. Estimated stocks in public stores on March 1 at. London, Liverpool and Bristol: New Zealand and Australian, 51,450 crates, compared with 124,450 crates last year; Canadian, 41,500 boxes, compared with 57,500 boxes last year. North American Market The board has also received the following advice from its agents in Montreal: Butter: New York, 49 cents 2s OJd); Montreal, 38J cents (Is 7|d). It will be noticed that the above figures support reports from other sources regarding the shortage of stocks. Stocks of both butter and cheese are shown to be almost half those held at the corresponding date last year. It was in March last year that butter reached the low level of 144 s to 1465. This year, Instead of the dragging and lifeless market, a strong tone is registered with an upward tendency. LONDON MARKET HIGH COMMISSIONER’S RESUME Under date March 3 the High Commissioner for New Zealand stationed In London cabled as follows: Eggs.—Prices lower again and market quiet. Present quotations are: English, Danish and Dutch, 13s 6d to 14s 6d a long 100: French, Belgian, 11s 6d; Egyptian. Polish, 8s 6d to 10s 6d. Tallow.—No sales effected at auction this week. Market very quiet and prices nominally unchanged. Hemp.—Manila market firmer. Closing value of “J” grade for March-May “J” shipments is £39 15s. Sisal: Little better demand. No, 1 afloat and March to May shipments sold up to £37, No. 2 £35 ss. New Zealand.—No interest shown in afloat. Fair pressed for sale at about £3l. Probable buyers of distant shipments at £3l, sellers £3l 10s, and highpoints sellers £33 10s. Wool.—Bradford market continues firm with good general inquiry for tops at about last quotations. Oats.—Mar't t firm and prices somewhat higher. Plate afloat sold up to 37s 9d and Chilean offered at 28s 3d. English firmly held, choice seed white making 36s to 40s and feed 33s to 345. Nominal value “A” grade New Zealand gartons for March to April shipment. 34s 6d. Peas.—Maple: Market quiet. New Zealand April to May shipments sold at 65s to Liverpool; 69s bid for No. 1 March to April shipment. Tasmanian February to March shipments offered at 77s 6d. English in small supply and best samples have made up to 6Ss. Blues: Market steadier for forward position. Japanese: March to April shipments sold at £24, but inquiry chiefly for small round Dutch at about £2B. Nominal value Tasmanian March to April shipments, £3 9. Beans.—Market duller. English in fair supply. Good winter making 49s 6d and choice spring 68s. New crop Chinese horse July to September shipments offered at: £lO ss. Danish Cocksfoot.—Market very quiet and values are a shade easier. Nominal quotation for 90-95 seed is 95s c.i.f. New Zealand ports.

day call were:—* Sellers. Buyers £ s. d. £ a. d BANKS— Bank of Australasia 15 1 0 Com. Bank of Aus. English, Scottish & 1 8 0 1 7 6 Australian 8 2 6 Nat. Bank of N.Z. Nat. Bank of Aus7 0 0 6 17 0 tralasia (con.) .. 9 0 0 New Zealand 2 19 9 Ditto (20s paid) 6 TJnion of Australia 14 15 INSURANCE— National 0 15 9 New Zealand .. .. l 3 2 0 South British .. .. — 2 17 9 LOAN AND AGENCYFarmers* Co-op. Auc . tioneerlng 3 7 6 Ditto (A pref.) .. 0 17 6 Golds borough Mort 10 0 2 8 9 Newton King (pref.) 0 12 6 0 10 N.Z. and River Plato 1 9 0 N.Z. Loan and Merc. — 1 97 0 0 COAL— Renown (con.) .. .. 0 14 6 0 12 6 Hikurangi .. .. .. Ditto (pref.) .. .. 0 4 2 0 • 3 7 9 6 Ditto A (pref.) . 0 6 9 f (5 3 Fukemiro 3 6 0 » 3 3 Taupiri 1 6 6 1 5 9 Ditto (pref.) .. .. 1 3 0 Waipa .. .. •• •• 0 17 6 — GAS— Auckland 1 2 6 1 2 3 Ditto (con.) .. .. 0 ii> 0 Birkenhead 0 16 0 — * SHIPPING— Devonport Steam . 1 5 6 1 4 r. Howard Smith .. .. 1 8 6 Huddart-Parker 1* 0 Northern Steamship 0 15 3 — Ditto (con.) . . . 0 7 3 0 7 0 P. and O. (Deferred Stock) .. .. .. .. Union Steam Ship 242 0 0 235 0 0 TIMBER— Bartholomew .. .. J. 1 6 1 0 0 Parker-Lamb .. • • • 0 19 0 — WOOLLEN— Wellington 6 5 0 — BREWERIES— C. L. Innes (pref.) 1 0 0 J. Staples and Co. 1 18 0 1 17 0 MISCELLANEOUS— A. J. Entrican ipref.) 0 19 0 Australian Glass .. 4 3 British Tobacco 2 0 3 1 19 Burns, Philp ... .. 1 0 Bycroft, Ltd Checker Taxicab Co. 0 19 0 Ditto (con.) . . . . 0 10 0 Dental and Medical 0 16 0 Dominion Pictures . 1 Ditto (pref.) .. .. Electrolytic Zinc — 1 0 0 (pref.) .. .. . ,, 1 11 3 Fullers’ Pictures .. 0 19 0 Gear Meat 1 18 3 Grey and N/enzies . 0 12 0 Hayward’s Pictures 1 0 0 0 18 Henry Jones Co-op. 1 17 3 1 16 6 Hill and Plummer . H. M. Arcade Theatre (pref.) 1 0 0 Holden’s Motors! Lewis Eady, Ltd. 1 11 3 — Milne and Choyce .. 1 4 0 Ditto (pref.) .. .. —-- 1 4 0 Ditto (B pref) .. 1 4 0 Ditto (deb. stock) 1 3 3 N.Z. Farmers’ Fer. 4 10 0 4 2 0 Northern Boot 0 18 0 Robinson Ice Cream 1 6 Sanford. Ltd 1 0 0 Ditto (pref.) . . . . 1 1 0 1 0 3 Taranaki Oil Fields 0 to 3 0 6 Tonson Garlick 0 11 0 Union Oil Soap and Candle 0 0 Whlttome Stevensons 2 7 6 5 6 Wilsons Cement 1 IS 0 1 17 6 MINING— Alburn ia 0 1 6 Moanataiari (.paid) 0 2 0 1 7 Ditto (con.) . 0 1 4 Golden Age tpd.) .. 0 0 4 0 0 1 Lucky Shot (2s pd) 0 0 9 Maori land (con. i . . 0 0 6 Mt. "Welcome (con.) New Waiotahl (4s 0 0 6 — paid) .. 0 0 S* Ditto (con.) - . Occidental Una 2s 0 0 8 0 0 6 paid) 0 1 9 0 1 0 Ditto (con.) .. .. 0 1 4 Ohinemuri 0 7 0 0 6 8 Ditto (pref.) .. .. 0 9 6 Waihi 0 10 3 9 Waihi Grand June. 0 1 3 0 0 1M Mount Lyell .. .. .. DEBENTL: RES— Aiickland Harbour 1 10 6 1 9 9 Board, 51 p.c 0 0 Ditto, 6 p.c. City of Auckland. 103 10 0 1940, 5} 96 0 0 101 0 0 Bor. Mt. Eden, 6 105 10 0 102 0 0 Bor. of Hamilton. 6 105 0 0 101 0 0 Glaxo 90 0 0 Hamilton Theatres 105 0 0 — GOVERNMENI BONDS— N.Z. Govt. War Loan. 1938. 41 p.c 98 0 0 97 5 0 Ditto. 1930. 4; p.c. 97 0 Ditto, 1941, 41 .. 97 0 0 Ditto, 1933, 51 p.c. 101 0 0 — INSCRIBED STOCKJN Z. Gov.War Loan 1938. 41 p.c 97 10 0 0 Ditto. 1939, 41 . . 97 0 Ditto. 1933. 5:. . 100 15 0 Ditto, 1936, 5i .. — 100 10 0