Markets and Money

Sun (Auckland), Volume II, Issue 314, 27 March 1928, Page 12

Markets and Money

A Review for Business Men

ON THE ’CHANGE BANKS IN DEMAND WAIHI MINING 11/Banking scrip was in particular;! good tone this morning. New Zealands have improved to see sales at 59s 9d. Most other scrip in this section is sought on a firm market. Coals are steady at late quotations. With the exception of a steady demand for Kauris, the timber section is practically neglected, with no buyers quoting. In the miscellaneous section Colonial Sugars remain in good tone, and sellers this morning at £59 10s were supported by buyers at £SB 10s. Mining is mostly weak and idle. Waihis and Grand Junctions register a strong tone, with sales of the former reported at 11s. In the gilt-edged section 1933 and 1936 bonds and stocks are registering a slightly firmer tone. , SALES REGISTERED Yesterday afternoon’s business. —Reported: New Zealand Insurance, 40s 9d. At this morning’s 10 o’clock call.—On 'Change: Devonport Steam, 24s 9d: Northern Steam (con.), 7s 2d. Reported: Commercial Bank of Australia, 27s lOd: Union Bank of Australia, £l4 12s 6d: Hill and Plummer. 235. At to-day’s mid-day call. —ReportedNew Zealand Bank, 59s 9d; Waihi, 11s. MID-DAY QUOTATIONS Closing quotations at to-day’s midday call were: Sellers. Buyers. £ s. d. £ s. d.

SOUTHERN EXCHANGES Press Association. Christchurch.—Bank of Adelaide, £9 10s; Commercial Bank of Australia, 27s lid (two parcels); New Zealand Refrigerating; (£1 paid). 15s lOd. 15s lid; Union Bank (Melbourne register). £l4 13s; Auckland Gas, 21s lid; Electro. Zinc (ord.), 31s; ditto (pref.). 32s 6d. Dunedin.—Bank of New Zealand (D issue). 265; Commercial Bank of Sydney, £26 17a 6d. ft

IN THE MARKET PLACE CANADIAN EGGS ARRIVE LOW VALUES FOR BANANAS Hawks's Bay fs contributing freely to the fruit sections of the City Marts at the moment and tending to glut the market with certain lines. A shipment of approximately 10,500 dozen chilled eggs came to hand on the Aorangi from Canada yesterday and the market for this product has eased in consequence. Hawke’s Bay’s chief contributions to the market comprise apples, pears and tomatoes. Lower grade apples and pears are still being sent forward, meeting with a very limited demand. Cox’s Orange, selling up to 9s a case, are the most sought after apples. Louis Bon pears have firmed in value to see firstgrade lots making 13s a case. Tomatoes sell at latest values, with Hutt and Hawke’s Bay consignments still offering freely. Grapes are making slightly better values. Peaches are scarce, and the next two or three weeks should see the last of the season’s offering. Bedrock values for bananas are registered at the moment, and with heavy supplies of over-ripe fruit on the market, lower grades sell from 3s a case, with the average price for best ripe lots ranging from 10s to 12s. The Hinemoa brought a small parcel of green bananas on to the market this morning and a further shipment from Fiji is scheduled to arrive by the Waipahi about the sth prox. Mushrooms are scarce, and realise up to 2s a lb under the hammer. Landed at a reported cost of about 2s a dozen, a shipment of approximately 10,500 dozen chilled eggs from Canada will go into consumption this week. The effect was noticeable in the City Marts this morning, when prices declined 2d to 3d a dozen. Quotations lifted from the City Marts this morning ranged as follow: FRUIT Apples: Cox’s Orange, 6s to 9s a case; Delicious, 7s to 8s 6d; Jonathans, 3s to 8s: Monroes, 3s to ss; second and culls, 2s to 3s 6d; cookers, 3s to 4s. Pears: Louis Bon, 9s to 13s a case; Packhams, 4s to 7s; Clairgeau, 4s to 5s 3d; others, 3s to 4s 6d. Peaches: Golden Queens, 6s to 10s a case; others, 5s to 7s. Tomatoes: Choice local, 4s to 5s a box; others. Is to 3s: Hutt, 2s 6d to ss. Lemons: 10s to 22s a case. Grapes: Hamburgs, Is to Is 5d a lb; Colemans, No. l’s, Is 9d to 2s 4d; No. 2’s, Is 3d to Is Sd: Golden Queens, Is to Is 2»d. Cape Gooseberries: 5?.d to 6£d a lb. Passions: 3s to 7s 6rl a case. Oranges: .Taffas, 27s to 32s a case; American, 36s to 425. Bananas: Ripe,, repacks, Ss 6d to 14s a ease: seconds, 3s to 7s. Mushrooms: Is 3d to 2s a lb. VEGETABLES Potatoes: Southern, 12s to 13s a cwt; local, 8s to 11s. Onions: 8s to 10s a cwt. Kumeras: lid to 2d a lb. Cabbage: 2s to 13s a sack. Cauliflower: 5s to 12s 6d a sack. Swedes: Is 6d to 3s a bag Pumpkins: 7s to 12s a cwt. Green Peas: 6d a lb. Beans: 5s to 9s a bag. Lettuce: 3s to 9s a case. Quotations for eggs and butter and the smaller parcelled vegetables will be found in the “Kit Bag’’ column on another page. SUBURBAN HOMES COMPANY’S PROFIT The firs., annual general meeting of the Suburban Homes and Investment Company. Limited, was held last week. The chairman congratulated the shareholders upon the result of the first year’s operations. which, after allowing for the usual contingencies and after valuing stocks, etc., at a conservative figure, showed a net profit of £1,483 2s lid. This the directors recommended should be utilised to write off the preliminary expenses and brokerage, pay o dividend of 6 per cent, upon ordinary shares, the -balance to be carried forward. These recommendations were unanimously approved by the shareholders. The chairman stated that the company, as a result of its first year’s experience, was now well organised, and the directors considered that shareholders could look forward with confidence to the result of the present year being at least as satisfactory as last year’s. Mr. S. L. Hirst, who was the retiring director by rotation, was re-elected, and Mr. R. G. Clark was added to the board, which now comprises Hon. Geo. Fowlds (chairman), Messrs. A. Howey Walker, S. L. Hirst, R. G. Clark and H. W. Lewis. MINING NEWS ALBURN I A.—The manager reports as follows: “Driving on the dropper hillward has been extended a further 19 feet, this making a total distance of 262 feet out from the crosscut. The reef in the face at present shows a width of 12 inches, being a fairly well defined body. A fair amount of fine grained antimony is again showing in the stone, also a good class of mineral and blend. Its general appearance is most hopeful for making good values at any time.” OHINEMURI.—The superintendent reports: “In the north section the north drive on the new development is along 18 feet in sulphide ore, averaging £ll 8s 6d a ton for the width of the drive. The south drive is in 21 feet, averaging £9 2s 6d a ton for the width of the drive. In the south section the “E” crosscut is out 70 feet and will, in a further 16 feet, intersect the Camoola reef. Mr. Noble, the company’s metallurgist, is engaged in making a series of experiments of the ore from the various blocks to ascertain the most satisfactory method of treatment to be adopted before commencing the remodelling of the treatment plant. So far the experiments go to show that the ore is in no way refractory and is amenable to the ordinary system of cyanide treatment. The new electrical power plant and air-compressor are operating excellently.” AUCTION NOTICES William A. Horne. Ltd., will offer by public auction at their rooms, Horne’s Buildings, High Street, to-morrow, Wednesday, March 28, 1928, at 1 p.m., without reserve, four building sections situated at Niger Street. Grey Lynn, Alfred Street, Onehunga and Mangere Crossing. The Auckland Auctioneering Company, Ltd., will sell by auction, on bel,#lf of Mrs. B. Kelly, at St. Mary’s Lodge, adjoining St. Mary’s Church, Parnell, tomorrow. at 11 a.m., the beautiful household furnishings and effects of her home. Mr. A. H. Jones is the auctioneer.

BANKS— A us. Bank of Com. 1 13 0 Bank of Adelaide.. 9 2 Com. Bank of Aust. 1 8 0 ling., Scot. & Aus. 8 6 6 s 4 National of N.Z. Nat. of Australasia (con.) 8 18 6 New South Wales . 48 10 0 48 0 0 New Zealand 0 0 19 6 Ditto (20s paid) . . 1 6 6 1 5 10 Union of Australia — 14 12 0 INSURANCE— A.P.A 0 9 9 National 0 New Zealand .. .. 2 1 0 0 South British .. .. 3 0 3 2 19 0 LOAN AND AGENCY— farmers’ Co-op. Auc. 3 5 0 Ditto, A (pref.) .. 0 6 Ditto, B (pref.) .. 0 15 0 Goldsbrough, Mort. 2 10 0 9 0 Newton King (pref.) 0 12 6 0 10 9 N.Z. and River Plate 1 9 3 N.Z. Loan and Merc. 99 0 0 Ditto (pret.) . . . . SI 0 0 N. Auck. Farmers' Co-op. (B pref.) 0 10 0 — COAL— Renown (con.) .. .. 0 14 6 0 12 0 Hikurangi 0 4 2 0 3 8 Ditto (pref.) .. .. 0 8 3 0 7 Ditto (A pref.) .. 0 6 9 0 6 3 Fukemiro 3 Vaupiri 1 0 Ditto (pref.) .. .. 1 3 0 \\ aipa .. .. .... 0 16 0 0 15 3 GAS— Auckland 1 2 0 1 Birkenhead and Northcote 0 16 0 — SHIPPING— Devonport Steam . 1 5 0 1 4 3 Howard Smith 1 8 0 Huddart-Parker 8 6 Northern Steam 0 15 Ditto (con.) 0 7 5 0 7 0 P. and O. (def stock) — 232 0 0 TIMBER— Kauri Timber .. .. National .. .. ... .. 0 12 « Parker-Lamb .. .. 0 19 0 — WOOLLEN— Kaiapol . „ — 0 8 0 BREWERIES— N.Z. Breweries .. . 2 2 J. Staples and Co. • 1 17 6 MISCELLANEOUS— Auck. Amuse. Park 0 11 0 A. J. Entrican ipref.) 1 •) 19 0 Australian Glass .. British Tobacco 2 0 0 1 19 6 Burns, Philp . . .. 2 3 0 2 1 9 Bycroft, Ltd 1 10 0 Checker Taxicab Co. 0 19 6 Ditto (con.) .. .. 0 9 6 Colonial Sugar (Aus) 59 10 0 58 10 Dental and Medical 0 16 0 Donaghy s Rope 1 13 0 Electrolytic Zinc (ord.) 1 10 9 Ditto (pref.) .. .. 1 12 0 1 ullers’ Piet ures 1 0 0 Gear Meat Co 1 18 0 Grey and Menzies . 0 12 0 Hayward's Pictures 1 0 0 0 18 6 Henry Jones Co-op. 1 16 6 Hill and Plummer 1 Holden's Motors 1 10 0 Lewis Eady, Ltd. (pref.) 1 0 6 Milne and Choyce .. 1 4 0 Ditto (pref.) .. .. 1 4 0 Ditto (B pref.) .. 1 4 0 Ditto (deb. stk.) . 1 3 0 N.Z. Paper Mills .. 0 17 0 N.Z. Refrigerating . — 0 15 6 Ditto (con.) .. .. 0 S 0 0 7 7 Northern Boot and Shoe 0 IS 0 Sanford, Ltd 1 0 3 Sharland and Co. .. 1 0 9 Taranaki Oilfields .. 0 9 6 Tonson Garlick .. .. 0 11 0 Union Oil 2 0 0 Wairakei, Ltd 0 10 6 Wh ttome St.evensons 2 8 0 4 0 Wil sons Cement 1 18 0 1 17 6 MIMING— Alburnla 0 1 6 — Moanataiari (paid) 0 0 0 1 3 Ditto (con.) 0 1 4 Empire Reefs (con.) — 0 0 3 «loli Jen Age t pd.) n 0 4 0 0 1 Kawarau 0 0 9 0 0 5 Lucky Shot (2s pd.) 0 1 3 0 0 8 Alt. Welcome (con.) 0 0 6 New Waiotahi (4s paid) .. .. 0 1 1 0 0 8 Ditto (con.) .. .. 0 0 S 0 0 Si Occidental Una (2s paid) 0 1 9 Ditto (con.) .. .. 0 1 4 O’linemuri 0 7 1 0 6 10 Ditto (pref.) .. .. 0 9 6 Waihi 0 11 0 10 9 Waihi Grand June. 0 1 8 0 1 3 AUSTRALIAN — Mount Lyell .. .. 1 11 0 1 10 0 DEBENTURES— Auckland Harbour Board, 5$ p.c. .. 97 0 0 95 0 0 Ditto, 6 p.c.. 103 10 0 Bor. Devonport, 6 . 101 0 0 Bor. Mt. Eden, 53 . 102 10 0 100 0 0 Ditto, 6 p.c 105 0 0 102 0 0 Bor. of Hamilton, 6 104 10 0 100 0 0 Bor. Ngaruawahia, 6 104 10 0 99 0 0 N.Z. Breweries 1 9 1 3 0 Glaxo 90 0 Hamilton Theatres 7 p.c. 102 0 0 — GOVERNMENT BONDS — N.Z. Gov. War Loaru 1938. 4} 97 15 0 97 7 6 Ditto. 1941, 4) 97 6 Ditto. 1933. 51 .. 100 0 0 Ditto. 1936, 51 .. — 100 0 0 INSCRIBED STOCK N.Z. Gov. War Loan 1929, 5 98 0 0 Ditto, 1939, 41 .. 97 7 6 Ditto. 1933. 51 .. 100 15 0 100 6 Ditto, 1936, 51 .. 100 15 0 100 2 6