Markets and Money

Sun (Auckland), Volume II, Issue 319, 2 April 1928, Page 12

Markets and Money

A Review for Business Men

ON ’CHANGE

A QUIET MORNING

WESTPORT STOCKTONS IMPROVE

Little business of any moment took place on 'Change this morning. Banks and insurances are quiet. The market for National Insurance scrip is firm, with buyers at 15s 6d and no sellers. In coals, Westport Stockton (ord.) were dealt with at 2s, compared with Is 3d in the South on March 5. The preference scrip was also dealt with at 3s 2d. In the loan and agency section. New Zealand Loan and Mercantile ordinary shares are sought on a market firm at £IOO, with no. sellers. Other sections are quiet. SALES REGISTERED

At this morning’s early morning call: Reported—Westport - Stockton (ord.), 2s; ditto (pref.), 3s 2d. At to-efay’s mid-day call: Reported— Moanataiari Mining (paid), Is 9d. MID-DAY CALL Closing quotations at to-day’s mid-

AUCTION NOTES

Messrs. J. H. Ansell and Co., the Symonds Street auctioneers, will offer by auction to-morrow at 11 a.m., the property, machinery, stock and fittings of an up-to-date joinery works occupied by Messrs. J. Deverell and Sons, corner of Main South Road and Albion Streets. Otahuhu. Mr. J. H. Ansell will sell. Mr. T). Reid will sell at the Methodist Parsonage, Franklin Road, on Sednesday next at 11 a.m., the whole of the furnishings and effects of the Rev. J. Olphert. Mr. D. Reid will sell. te.. Messrs. J. H. Ansell and Co. will sell bv their rooms, 167 Symonds Street, on next, at 1 p.m., two AmeriM can light six cars, in perfect order, ■

TREND OF HIDE MARKET

INCREASE OVER THE YEAR BEEF PRODUCERS BENEFIT With the flush of the calf skin season long past and the various interests already looking ahead and wondering how the market will open in July, and only a month or so to go before beef and killings at the freezing works will be reduced to practically negligible tallies, a review of the hide and calfskin market over the past year makes interesting reading. Looking back over the period March 3,- 1927, to March o fthe present year, it is seen that the market has favoured the buyer for the greater part of the time.

Hides rose steadily up to about January 14, when a gradual decline set in which was not checked until March 9, when bedrock was reached and a gradual improvement took place up till the present moment, when the market is reported firm with a slight rising tendency. An actual figure indication of the trend of the market can bo. taken from the following, quotations for 40 to 44 hides; —Sydney quotations for the- March, 1927, sale were 6ld a lb. By January 14 the peak was reached at By March 9 the market had slumped 2£d to but a stronger tone saw quotations at 122 d on Friday of last week. Values for calfskins have been steadier over the period under review and quotations from Sydney for light grades at 17id last week register only Id in advance of quotations for similar grades in March of last year. Not only have the actual buyers of hides benefited by the rise, but prime and canner beef industry has received a boost along. In the Auckland Province alone it would be safe to estimate that well over 1,500 canner cows from Waikato dairy farms are finding their way into the works weekly at the moment. One- third to half the value of this class of stock is represented in the hide. Returns to hand for the first five months of the current season show a considerable advance on the total beef-killing figures for the 1926-27 season. Thus is can be seen that by the time the season closes the New Zealand producer and, in many instances, the exporter, will have benefited substantially by what amounts to approximately one hundred per cent, rise in the market. Thus, also, can be seen one of the dominating factors in the present firm market for cattle throughout the Dominion.

Neither have dealers in calfskins come out on the wrong side of the ledger where buying operations have been carried out on the right lines. Reports to hand regarding the operations of those engaged in the bobby veal trade last season indicate that the greater part of the profit was made on the skins.

Future prospects are hard to forecast, as overseas buyers are letting little out at the moment. There are healthy signs of an increased demand from England and the Continent, however, and this is a fair indication that the present cr even better prices will rule until the season’s bulk stocks have been quitted.

LONDON MARKETS

FROZEN MEAT VALUES By Cable.—Press Association. — Copyright. LONDON, Saturday. Sheep.—Canterbury, light, 6 7-8 d; medium, 6 3-8 d; heavy, 5Jd; North Island, light, 6:id; medium, 6d; heavy, 5 l-Bd. New Zealand ewes, 5 1-Sd; Argentine, light, 5 5-8 d; medium, 4 7-Sd; heavy, 4 3-Bd. Ewes, none offering. Lambs.—Canterbury, medium, 8 3-8 d; heavy, BJd; other selecteds, light, 9d: medium, 8 3-8 d; North Island. firsts, medium, S^<a; Argentine, firsts, 8d; seconds, 7Jd. Chilled Beef.—Argentine fores, 4d; others unchanged. COTTON, RUBBER, HEMP, ETC. (Last week's prices in parentheses.) Cotton.—April delivery, 10.33 d (10.33 d) a lb.

Rubber.—Para, 12id (12£d) a lb. tation and smoked, 13 l-8d (13d). Jute.—April-May shipments, £3l 15s (£3O 10s, March-April) a ton. Hemp.—April-May shipments, £3l 10s (£3l 10s) a ton. Copra.—March-April shipments, £27 17s 6d (£26 15s) a ton. Linseed 0i1.—£29 15s (£29) a ton. Turpentine.—4os 6d (40s 3d) a cwt.— A. and N.Z.

FAT STOCK FOR EXPORT

Press Association. WELLINGTON, Saturday. The New Zealand Meat Producers’ Board advises that the following prices are being offered for fat stock for export, at March 31: Canterbury (prices delivered at works). —Prime woolly lambs, 361 b and under, 10$d; 371 b to 421 b., 92d; 431 b and over, 9£d; second quality lambs, 9.id.

LONDON MEAT MARKET

Under date March 30, the London office of the New Zealand Loan and Mercantile Agency Co., Ltd., cabled as follows: ••Frozen Meat.—Lamb, 8 5-Sd; mutton, wether and maiden ewes, light, 6 5-Sd; heavy, 5 l-8d; ewe, light, 5 1-Sd; heavy, od. Market quiet.*’

FROZEN MEAT VALUES

SMITH FIELD MARKET Under date March 30 the London Office of the New Zealand Meat Producers’ Board cabled the following resume of Smithfield delivered prices:— New Zealand Wethers and Maidens.— Canterbury quality, selected brands, 561 b. and under, 6 7-Sd a lb.; 571 b. to 641 b., 6 3-Sd; 651 b., to 721 b., s*d; other brands, 561 b. and under, 6fd; 571 b. to 641 b., 6d; 651 b. to 721 b., 5 1-Sd. New Zealand Lambs.—Canterbury quality, 361 b. and under, 9 l-8d; 371 b. to 421 b., S 3-Sd; 431 b. to 501 b., Bid; selected brands, seconds, 9d; 371 b. to 421 b., 8 3-8 d; other brands, first quality, 361 b and under, 8 5-Sd; 371 b. to 421 b., Bid; second quality, 301 b. to 321 b.,

average, Sid. Australian Lambs.—Victorian, first quality, 361 b. and under, Sd; 371 b. to 42113., Bd. Argentine Lambs.—First quality, 361 b. and under, Sd; 371 b. to 421 b., Sd. New Zealand Beef.—Ox fores, 3£d: hinds, 4 5-Sd; cow fores, 3£d; hinds, 4d. ’ Argentine Chilled Beef.—Ox l'ofljs, 4dhinds, 6 5-Bd. Argentine Frozen Beef.—Ox fores, 4d' hinds, sid. Frozen Pork.—Porkers, 601 b. to 801 b., id; 811 b. to 991 b., 6£d; 1001 b. to 1201 b., 6£d; baconers, 1211 b. to 180ib., G2d. Lamb Market.—Consumption good. Mutton.—The market is easier owing to heavier supplies. Frozen Pork.—There is a good demand for frozen pork, 1211 b. to 1801 b., but owing to heavy pitchings Home-killed, frozen pork, 801 b. to 1201 b., quiet. NEW ZEALAND “ON HOOKS” PRICES The New Zealand Meat Producers’ Board advises that the following prices were being offered for fat stock for export at March 31:—

Canterbury, delivered at works: Prime woolly lambs, 361 b. and under, 10ld; 371 b to 4 2Jb., 92d; 431 b. and over, 9*d. Second quality lambs, 9 id.

BUTTER AND CHEESE

Under date March 31, the London office of the Amalgamated Dairies, Ltd., cabled as follows: “Butter.—Nothing doing except occasional small sales. Official quotation 168 s to 1725, exceptional 1745. We are holding our prices unchanged, in order to support £he market, pending a renewal of activity. Danish, 192 sto 194 son spot, 186 s f.0.b.; well cleared. Deliveries of New Zealand, 1,412 tons, stocks 6,660. Retails unchanged. Cheese, 9Ss to 995; exceptional 100 s; market slow'. Retails unchanged. G. Paviour-Smith reports receipt from his London principal, the Anglo-Conti-nental Produce Company, Ltd., of the following cabled market report, dated March 31. “Market sick; butter, 168 sto 1725. Cheese, 98s to 995.”

day call were: — Sellers. Buyers. £ s . d £ d. BANKS— Aus. Bank of Com. 1 14 0 1 13 0 Bank of Adelaide . . 9 16 0 Com. Bank of Aust. 1 8 1 7 10 Ditto (pref.) .. .. 6 16 6 Eng., Scot. & Aus. 8 6 0 8 3 National of N.Z. .. 6 18 6 Nat. of Australia (con.) S 18 0 New South Wales . 48 7 6 47 15 0 New Zealand .. 0 3 2 19 Ditto (20s paid) . 1 10 Union of Australia.. 14 14 0 14 12 6 INSURANCE— 0 9 9 — National 0 15 6 New Zealand 2 1 0 2 0 South British . • .. 3 0 0 2 19 6 LOAN AN D AGENCY— Abraham and Williams (pref.) .. .. 4 7 6 Farmers’ Co-op. Auc. 5 Ditto (A pref.) .. 0 Ditto (B pref.) 0 It Goldsbrough. Mort . 9 2 Newton King (pref.) 0 12 6 6 N.Z. and River Plate N.Z. Guar. Corp. .. #0 N.Z. Doan and Merc. Ditto (pref.) .. .. — 81 0 COALHikurangi 0 4 2 0 3 8 Ditto (pref.) .. .. 0 8 Ditto (A pref.) .. 0 6 9 0 6 Pukemiro 3 Renown 0 15 0 0 13 0 Taupiri 1 6 Ditto (pref) .. .. Waipa (ex div.) .. Westport Westport-Stockton 0 Ditto (pref.) .. .. — GAS— Auckland .. 1 2 3 1 1 9 SHIPPING— Devonport Steam 1 5 3 1 4 3 Howard Smith .. .. 1 Uluddart-Parker Northern Steam 0 15 Ditto (con.) 0 7 stock) — 235 TIMBER— Deyland-O’Brien 1 16 0 National 0 12 6 — Parker-Lamb • • . • 0 19 — WOOLLEN- — 0 8 3 Mosgiel .. .. •• •• — BREWERIES — C. L*. Innes (pref.) 1 0 0 — N.Z. Breweries . . . o MISCELLANEOUS — MISCELLANEOUSAuck. Amuse. Park 0 10 0 — A. J. Entrican (pref.) 0 19 — Australian Glass 3 British Tobacco (ex 2 0 3 Burns, Philp . • .. 2 3 3 2 1 9 Bycroft, Dtd — Checker Taxicab Co. Ditto (con.) .. .. Col. Sugar (Aus.) 59 Donaghy’s Rope «• Electrolytic Zinc Ditto (pref.) .. .. Fullers' Pictures .. Gear Meat 1 Grey and Menzles . 0 12 Hayward’s Pictures 1 Henry Jones Co-op. Hill and Plummer . 1 H.M. Arcade (pref.) Holden's Motors .. Lewis Eady. Dtd. (pref.) 6 — Milne and Choyce .. Ditto (pref.) .. .. Ditto (B pref.) .. 4 N.Z. Farmers* Fer. 4 4 w N.Z. Paper Mills .. — N.Z. Refrig. Ditto (con.) .. .. 3 Northern Boot .. — Sanford, Dtd Ditto (pref.) .. .. Taranaki Oil .. •• 0 9 6 2 Tonson Garlick •• 0 Union Oil Wairakei, Dtd. 10 Whittome, Stevenson Wilsons Cement .. 1 18 0 1 17 9 MINING— Alburnia 0 1 4 — Moanataiari (paid) 0 0 1 Ditto (con.) .. .. 0 1 0 Empire Reefs (con.) 0 Golden Age (paid).. 0 4 Ducky Shot (2s pd) ' 0 1 3 Mt. Welcome (con.) New Waiotahi (4s paid) .. .. 0 1 1 0 Ditto (con.) .. .. 0 0 5 Occidental Una (2s paid) 0 1 9 Ditto (con.) •• .. Ohinemuri .. •• .. 0 7 1 6 10 0 9 6 Waihi 0 11 3 0 10 S Waihi Grand June. 0 1 0 1 AUSTRA DIAN — Mt. Dyell 1 11 1 10 DEBENTURES — Auckland Gas, 1932, 5 per cent 95 0 0 Board, 51 p.c. 97 0 0 95 0 Ditto, 6 p.c. lOo 10 0 103 Bor. Devonport, 6. 104 0 0 101 0 0 Bor. Mt. Eden, 52 . 102 0 0 100 0 0 Bcr. of Hamilton, 6 100 0 Hamilton Theatres 102 0 0 N.Z. Breweries 1 4 1 s Glaxo — 90 0 0 GOVERNMENT BONDS— N.Z. Gov War Loan. 1930, 44 97 5 0 Ditto. 193S, 44 .. Ditto, 1933, 54 .. 100 0 0 Ditto, 1936, 54 •• — 100 0 0 INSCRIBED STOCK — N.Z. Gov. War Doan Loan, 1938, 44 97 7 6 Ditto, 1939, 44 .. 97 7 6 Ditto, 1933, 54 .. 100 10 0 100 5 0 Ditto, 1936, 5i “ 100 0 0