Markets and Money

Sun (Auckland), Volume II, Issue 340, 28 April 1928, Page 12

Markets and Money

A Review for Business Men

ON THE ’CHANGE

RISE IN WILSONS CEMENTS FIRM TONE IN MARKET A strong tone was registered in the market on ’Change this morning lor several ot the better classes of securities. The feature during the past week has been the upward movement of several shares. In banks, Commercials of Australia were easier this morning with sellers at 28s 4d, unsupported after a sale yesterday afternoon at 28s 6d. New Zealands are firm, with sales up to 60s Sd. Nationals of New Zealand have improved to see business at £7 3s 6d. Auckland Gas scrip is active with a lirming tendency, sales of the contributing scrip being made up to 16s 3d. SALES REGISTERED Yesterday afternoon’s business.—On ’Change: Bank of New Zealand, 60s 3d; New Zealand Breweries, 46s 41d; Waihi Mining, 12s 6d. Reported: Bank of Australasia (fractions), 9s 3d; Commercial Bank of Australia, 28k 6d; Auckland Gas (con.), 16s 3d; Kauri Timber, 21s 6d; Bank of New Zealand, 60s 2d. This morning’s business. On ’Change: "Waihi Mining, 12s 6d; New Waiotahi (con.), 6d. Reported: E.S. and A. Bank, £ 8 8s 6d, £ 8 8s 9d and CS 9s; Union Bank of Australia, £l4 15s 6d; New Zealand Refrigerating Company, 16s 9d: National Bank of New Zealand. £7 3s 6d; Auckland Gas toon.), 16s 3d; Wilsons Cement, £1 ISs 9d. TO-DAY’S QUOTATIONS closing quotations at this morning’s

LONDON MARKETS

CONSOLS AND COLONIAL STOCKS (United P.A. —By Telegraph — Copyright) (Australian P.A.—United Service) LONDON, Thursday. The following table gives quotations for consols and colonial inscribed stocks, compared -with those of April 1J: Varia-

tHigher. *Lower. The British 5 per cent. War Loan is quoted less dividend. BANK OF ENGLAND RETURN The Bank of England returns for the week ended April 26, as compared with those for the week ended April 19, are as follow; —■

SHORT LOANS AND BILLS Short loans, 35 per cent., same as last week; three months’ bills, 4 per cent., compared with per cent, last week. FOREIGN EXCHANGES The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on April 23 and par:—

THE METAL MARKETS (Quotations on April 23 in parentheses.) Copper.—Spot £6l 11s 10 Jd (£6l 10s 7jd); three months, £6l 16s 3d (£6l 13s Copper.—Spot, £66 10s (£66 10s); three months, £67 (£67). Wire Bars.—Spot, £67. (£67); three months, £67 (£67). Lead.—Spot, £2O 12s 6d ( ); three months, £2O 12s 6d ( ). Tin.—Spot, £232 6s Sd (£232 12s 6d); three months, £232 11s 3d (£232 12s 6d). Silver.—Standard, 26Jd (26 7-16 d) per ounce; fine, 28 5-8 d (28 9-16^). P. AND O. SHARES P. and O. deferred stock is quoted at £256, ex dividend. SUGAR PRICES LOWER The sugar refiners have reduced prices by 2s 4Jd a cwt., in conformity with the Budget "announcement of a reduction in the duty. Granulated sugar is quoted at 2Ss 6d. WHEAT, FLOUR AND PULSE Cargoes are firm, owing to reported heavy abandonment of winter acreage in the United States. Quotations advanced by 6d and 9d, with an active demand. Ex Archibald Russell, 565; ex Duchunness, 55s 3d; bulk, ex Baron Jedburgh and Wirral, 55s lOHjd; ex Lionel, 55s 6d; ex unnamed vessel, at end of July, 555. Parcels show a moderate inquiry, at an advance of 6d to Is. Ex Ceramic, 55s net; ex Baradine, 555; ex Buteshire, 55s 6d. Bags, ex City of Yokohama, 55s 3d net; ex Aagtekerk, 55s 6d. Liverpool futures: May delivery, 10s 11 l-8d a cental; July, 11s 3d; October, 11s sgd. The spot trade is quiet and firm; Australian, from ship, 575. Flour: Quiet. Australian from store. 395. Oats: Firmer. Peas and beans: Firm. BRADFORD TOPS The market slack , "-kers-arc inclined to make concessions for actual business: 64’s are quoted at 4s 6d a lb; 60’s, 4s 3£d; 56’s, 3s 6d; 50’s, 2s 9d; 46’s, 2s 3d; 40’s, 2s l£d.

PUBLIC TRUST RETURNS

• A RECORD YEAR The following particulars of the loan transactions of the Public Trust Office and new business reported during the month ended March 31 have been supplied by the Prime Minister. The amount paid out in settlement of new loans was £219,123, making a total of £2,515,390 during the financial year just completed. Further new loans were granted to the amount of £67,85*. The total amount of new loans now awaiting completion is £576,978, while offers of loans less than the full advances applied for amount to £190,616. ' Applications nevv loans amounting to £3*4,470 are now under consideration. The new business continues to be satisfactory. The value of the new estates accepted for administration during the month was £588,533, and the total for the year ended March 31, 1928, exceeded a ,!' Primus records. It amounted to £b,511,938, an increase of £960,009 over the previous year, which itself provided more new business than had previouslv been obtained in any one year On March 31, 1927, the total value of estates and funds under administration exce Ptionally large numbei of new wills appointing the Public Trustee executor, namely, G d S were deimsited for safe custody by testathe month - The total number of wills now held is 55,065.

call were: — Sellers. Buyers. BANKS— £ s. d. £ s - d. Aus. Bank of Commerce 1 14 3 1 12 6 Bank of Adelaide . . 9 12 6 Bank of Australasia (ex rights) .. .. — 14 4 0 Ditto (rights) 1 0 2 18 6 Ditto (fractions) . 0 9 3 Corn. Bank of Aus. 1 S 4 Ditto (con.) 0 12 Ditto (pref.) . . . . 6 IS * ’om. Bank Sydney 26 12 6 Ting., Scot., & Aus. S 9 0 8 7 6 National of N.Z. 7 2 6 New South Wales . 48 0 0 47 10 0 New Zealand 3 0 0 Ditto mort (15s pd) 1 1 3 Ditto mort (20s pd) 1 6 3 Union of Australia 14 16 0 14 14 0 INSURANCE— A.P.A 10 0 ft 8 0 National 0 15 6 New Zealand . . 1 6 0 9 South British .. .. 19 0 — JiOAN AND AGENCY— Farmers’ Co-op. Auct. (A pref) 0 16 0 0 15 ft Ditto (B pl*ef.) .. 15 0 14 0 Goldsbrough, Mort . 10 0 9 9 Newton King (pref.) 0 12 6 0 10 9 N.Z. «& River Plate 1 9 0 N.Z. Guar. Corp. .. — 0 8 1 N.Z. Loan and Merc. — 102 0 0 COAL — Hikurangi 0 4 2 0 3 9 Ditto (pref.) .. .. 0 7 6 Ditto (A pref) . . 0 6 Renown 0 16 0 0 IS 0 Taupiri 1 6 0 Waipa 0 14 9 Westport 1 1 1 0 Westport-Stockton . 0 2 10 0 2 8 GAS— Auckland — 1 2 0 Ditto (con.) .. .. 0 16 6 0 16 3 SHIPPING— Revonport Steam . . 1 5 0 Howard Smith 1 7 3 — Huddart-Parker 8 0 6 Northern Steamship 0 15 2 Ditto (con.) — n . 7 6 P. & O. (def. stk.) . — 248 0 0 TIMBER— Bartholomew 1 1 0 Kauri Timber . . . . 1 2 6 1 Leyland-O’Brien 1 15 0 Parker-Lamb .. .. 0 19 0 — BREWERIES— C. L. Innes and Co. Ltd. (pref.) .. .. 1 0 9 N.Z. Breweries 2 6 9 2 5 6 MISCELLANEOUSi Auck. Amuse. Park 0 Australian Glass British Tobacco 2 9 Burns, Philp .. . . 3 Bycroft, Ltd Checker Taxicab 0 17 0 Ditto (con.) . . . . 0 7 0 Colonial Sugar (Aus.) 59 0 0 Dental and Medical 0 16 0 Dominion Pictures 1 2 0 0 Ditto (pref.) .. .1. 0 0 Rotiagny s Rope 1 3 4 U Dunlop Rubber .. ,. 1 Electrolytic Zinc. (ord.) 1 11 6 Ditto (pref.) .. .. 1 12 nrey and Menzies 0 12 0 Hayward’s Pictures 1 0 0 0 19 6 Henry Jones .. .. 1 18 Hill and Plummer 1 6 11. M. Arcade Theatre (pref.) .. . . 1 0 0 Holden’s Motors 1 11 0 .1 3 0 0 Kempthorne Prosser 7 6 Lewis Eady, Ltd (pref.) 1 0 0 Milne and Choyce. 1 4 0 Ditto (pref.) .. .. 1 4 0 Ditto (B pref.) . . 1 4 0 Ditto (deb. stock) 1 0 N.Z. Farmers' Fertiliser Co 4 4 0 N.Z. Paper Mills . . 0 14 () is .Z. Refrigerating . 0 17 0 16 7 Ditto (con.) .. .. 0 8 * 0 7 9 Northern Boot 18 0 Sanford, Ltd. (pref.) 1 1 0 isharland and Co. . 1 0 9 Taranaki Oil 0 9 0 0 7 0 Thames Theatre 1 0 0 Tonson Garlick . . . 0 12 9 Union Oil 0 9 A\ hittome Stevenson 7 6 5 0 AV iseman & Sons (ord.) 0 S 0 Ditto (pref.) . . . . 0 14 0 ■\\ ilsons Cement 1 19 0 1 IS 7 MINING— Alburnia 0 1 6 JUoanataiari (paid) . 0 0 0 1 0 Empire Reels (con.) Golden Age (paid). 0 0 4 0 0 1 Kawarau 0 0 9 0 0 3 Lucky Shot (2s pd.) 0 0 6 New Waiotahi (4s paid) 0 1 1 0 0 S Ditto (con.) .. .. 0 0 ek 0 0 Occidental Una (2s paid) 0 1 9 Ditto (con.) 0 1 2 < 'hinemuri .. .. .. 0 7 1 0 6 9 Waihi 0 12 S 0 12 4 A\ aihi Grand June. 0 1 6 0 1 A USTRALIAN— Mount Lyell 1 13 0 1 12 0 INSCRIBED STOCK— Auckland Gas, 1935, O’. per cent 103 0 0 100 0 0 Ditto, 6 p.c 105 10 0 105 0 0 Bor. DevonpoVt, 6 .. 100 0 0 Bor. Mt. Eden, 52 . 102 0 0 100 0 0 Bor. Hamilton, 6 100 0 0 Hamilton Theatres, 8 p.c 102 0 0 Ditto, S per cent. 102 0 0 N.Z. Breweries 1 4 0 1 6 Glaxo DO 0 0 GOVERNMENT BONDS— .War Loan, 1930, •* P-C 97 10 0 Ditto, 1938, 4k .. 97 10 0 Ditto, 1939, 4k .. 97 .0 0 Ditto, 1941, 4k .. 97 0 0 Ditto, 1933, 5k 100 0 0 Ditto, 1936, 5J 100 0 0 INSCRIBED STOCK— N.Z. Ins Stock, 193S, ( a PC 97 10 0 Ditto, 1939, 4£ 97 10 0 Ditto, 1936, 5k .. 100 0 0 Ditto, 1936, oj .. 100 5 0

Price. ton. £ s. d. s. ct Consols, 2i per cent. . 56 10 0 2 6* British 5 War Lo,an . . 100 12 6 4b Conversion Loan, 3a . 77 10 o a u Com’wealth, 5i, 1922-27 100 5 0 - b Coin’wealth, 6, 19ol-41 102 0 0 j ®I New Zealand, 4, 1929 98 10 0 - 6| New Zealand, 37, 1940 88 5 0 2 6f New Zealand, 3, 1945 79 0 0 5 0t New Zealand, 6, 1936-51 108 0 0 Same

April 26. April 19 £ £ 134,743,000 134,659,000 160,466,000 158,619,000 45,473,000 43,700,000 deposits 17,956*000 deposits 94,839,000 100,435,000 securities . 29,065,000 Otlier securities 55,931,000 60,190,000 Proportion of reserve to liabilities 40.30

April 26. April 23. Par. Brussels (belga) 34.94 34.96 35.00 Paris (fr.) . . . 124.02 124.02 25.225 Stockholm (kr.) . 18.19 18.19 18.159 Oslo (kr.) .18.21 18.26 18.159 Copenhagen (kr.) Berlin (r.m.) • - 18.21 20.39 18.21 20.41 18.159 20.43 Rome (lire) . . - 92.60 92.60 25.225 Prague (kr.) . 164 5 8 164 3-4 24.02 Calcutta (pc.) -- 18.00 18.00 24 Yokohama (pc.) . 23 7-16 23 7-16 24£ Hong-Kong (pc.) . 24 5-8 24 3-8 — Montreal (dol.) . 4.87 7 -8 4.88 1-4 4.866 New York (dol.) 4.87 15-16 4.88 7-32 4.866 Amsterdam (fl.) 12.11 12.114 12.1U Batavia (fl.) 12.112s 12.12 12.10