FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 352, 12 May 1928, Page 12

FINANCE & MARKETS

Bright Tone on ’Change

INTERESTS’ WIDER SPREAD

BUSINESS in investments on the Auckland ‘Change is gradually spreading over a wider field. Each week sees new securities receiving attention. The feature at the moment is the healthier tone in the market for miscellaneous scrip. This morning buyers of Colonial Sugars advanced offers a further 10s to £59 10s without drawing sellers. Wilsons Cements have a slightly easier tone. Steady buyers are in for most of better classes of securities in this section.

JyAURI Timbers are slightly weaker with a sale reported at 21s 6d, compared with yesterday’s market of 21s 9d. New Zealand Express saw their *ale on tho Auckland 'Change this morning when the ordinaries were dealt with at 19s 6d. Mining, with the exception of the three main companies, Waihi, Ohinemuris and Mount Lyells, remains weak and neglected. Waihis arc steady around 12s. Gilt-edged securities continue to meet with a steady demand. The recent issue

of Auckland Gas 6 5 per cent, debentures were dealt with at a £ 3 premium. Yesterday afternoon’s business. —On ’Change: Waihi Mining. 12s; N.Z. Insurance, 41s 6d. Reported; Tonson Garlick, 12s; Tamaki West, 5 2 per cent., £IOO 10s; City of Auckland, 55 per cent., 1940, £96.

This morning’s business. —On ’Change: Auckland Gas (paid), 23s 3d (two parcels). Reported: Auckland Gas, 65 per cent., 1935 debentures, £103; Kauri Timber, 21s 6d: N.Z. Express (ord.), 19s 6d; Bank of N.Z., 60s 3d.

Closing quotations at to-day’s call were:

TO-DAY’S QUOTATIONS

SOUTHERN EXCHANGES YESTERDAY’S SALES Press Association. Wellington. —New Zealand Refrigerating (10s paid), Ss 4d; Wellington Woollen (ord.), £6 4s; New Zealand Government Stock, 4J per cent., 1938, £97 15s; Bank of New Zealand, 60s; Wilsons Cement, 595. Christchurch. —Bank of Australasia (rights). 60s; National Insurance (cum div.), 15s Sd; Commercial Bank of Sydney, £26 17s 6d (two); Union Bank, £l4 19s, £l4 18s 6d; Goldsbrough, Mort, 60s Sd; Dalgety and Co. (sum div.), £l4 11s (two); Howard Smith, 27s sd, 27s 4d; New Zealand Refrigerating (con.), 8s 4d (four); New Zealand Breweries, 455; British Tobacco, 42s 3d (three); Tooth’s Brewery (cum div.), 43s 9d; D.I.C. (pref.), 20s 9d: Holden’s Motors, 31s; New Zealand Government Bonds, 55 per cent., 1933, £IOO 12s 6d; Commercial Bank of Australia, 2Ss 9d; Canterbury Frozen Meat. £9; Haywards Pictures, 20s. Dunedin.—Milburn Lime and Cement, 32s 6d. AUCTION NOTES Wm. A. Horne, Ltd., instructed by the Public Trustee, will sell at their rooms, Horne's Buildings, corner High Street and Vulcan Lane, on Friday, May 25, at l p.m., a six-roomed villa with all conveniences, known as “Pevensey,” 5 Crown Street, Royal Oak. Under conduct of the Supreme Court, the New Zealand Loan and Mercantile Agency Co., Ltd., will sell by auction, at their rooms. Pine Street. Whangarei. on Friday. June 1, at 2.30 p.m., a mixed farm of 843 acres 3 roods, more or less, handy to railway station, school and dairy factory. C. F. Bennett. Ltd., will sell by auction. at their rooms, N.Z. Insurance Buildings. Queen Street, on Friday, May 1?. at 12 noon, the tea kiosk, shop, boarding-house, adjoining Cheltenham Beach. No. 44 Cheltenham Road, Devon* port. Messrs. Samuel Vaile and Sons. Ltd., will sell by auction at their rooms. 8" Queeife Street, on Friday, May 25, at 2 p.m.. that valuable central business block known as Hyams’ Building, 29 Customs Street W. The sale of assigned stock comprising fancy goods, jewellery, china, cutlery and • loekery will be continued on Monday next at 11 a.m. on the premises, 328 Queen Street, opposite Civic .Square Messrs. J. H. Ansell and Co., are the auctioneers. The New Zealand Loan and Mercantile Agency Company, Ltd., advertises its Westfield stock sale for Thursday, May 17, and the list of country sales for May. Messrs. Alfred Buckland and Sons. Ltd., advertise their Pukekohe sale for Thursday, May 17, at 10.45 a.m., and the sale*?* ** a * es for their country circuit

LONDON WOOL SALES LATE RATES MAINTAINED (United P..A.—By Telegraph — Copyright) (Australian Press Association.) ~ Reed. 9.50 a.m. LONDON, Friday, t At the wool sales, 9,600 bales were sold, s of which 5,051 were New Zealand and 1,698 Australian. There was a miscellaneous selection of a, Merinos, a moderate offering of greasv ! crossbreds (mostly second-hands), and _ an excellent selection of slipes. 4 There was good general competition at late rates. New Zealands; Urcot, 24d, g 23d; Hiku, 215 d, 20d; Wandc, 25d, 19Jd. TRADE OF CANADA (United P.A. —By Telegraph — Copyright) f (Australian Press Association.) 1 OTTAWA, Friday. The total trade of Canada in March was valued at approximately £46,000,000, against £35,300,000 in February. Imports were valued at about £24,100,000, and exports at £21,600,000. The total trade for 12 months was £471.882,553, against £459,693,129 in the preceding year.

WRIGHT, STEPHENSON, LTD.

INCREASED PROFITS (Special to THE SUN) WELLINGTON, To-day. The annual report of Wright, Stephenson and Co., Limited, stock and station agents and general merchants, for the year ended March 31. 1927, discloses a net profit of £35,144 which, with £33,464 brought forward, leaves a credit balance of £6S,6OS. An interim dividend absorbed £17,267 and the directors recommend a final dividend of 35 per cent., making 7 per cent, for the year, and leaving £34,072 to be carried forward. Messrs. J. T. Martin and J. T. F. Mitchell, retiring directors, offer themselves for re-election. The authorised capital of the company is £1,025,000 and £546,907 is subscribed and paid up; reserve funds and undivided profits stand at £107,605; there is issued £569,993 debenture stock of various classes. Sundry creditors are put at £1,073,551; reserve fund is £73,533; assets include freehold and leasehold properties valued at £202,351; machinery is vaued at £12,515; motor-cars, horses, etc., vaued at £11,381; stocks on hand are vaued at £178,406; advances against dairy produce, meat and wool, less drafts, £187,381; sundry debtors, less reserves. £1,208,686; shares in other companies. £201,574; debentures in other companies, £140,000; total assets are valued at £2,315,325. The annual meeting will be held in Wellington on May 22. An indication of the company’s progress over the past five years can be taken from the following table:—

TRADE IN KAURI GUM Questions of interest to kauri gum producers atid exporters were dealt with at the monthly meeting of the Kauri Gum Control Board held yesterday. Mr. M. H. Wynyard presided. The board decided that in future when only portion of a consignment of gum was sold, only the charges payable on the gum actually sold would be deducted from the proceeds, the balance of the charges to be deducted as each parcel was disposed of and proceeds available. With regard to the making of advances against consignments of gum, the board decided to give the chairman and secretary authority to advance up to £SO on any one consignment between board meetings; any applications for advances of more than £SO would be dealt with by the board at the following meeting. The usual monthly report, was received from the Customs Department, showing the kauri gum exported during March to comprise 325 tons, of the value of £22,719. LONDON MEAT MARKET Under date May 10, Dalgety and Company's London house cabled as follows: — “Frozen Meat. —Mutton and lamb quiet demand, and value nominally unchanged; the tendency is in favour of buyers. New Zealand pork, noimprovement in demand; the market is nominal. The market for beef is quiet owing to heavy supplies of Home-killed.’* CHICAGO WHEAT (United P.A.—By Telegraph — Copyright) (Australian Press Association.) Reed. 9.5 a.m. CHICAGO, Friday. Wheat.—May, 1 dollar 53 1-8 cents a bushel; July, 1 dollar 535 cents; September, 1 dollar 52 7-8 cents.

Buyers Seller RANKS— s. d. £ d. 1 11 3 1 13 6 Hank of Adelaide Hank of Australasia 14 6 l 8 1 S Ditto (con.) .. .. 0 13 0 ft 12 0 1 >itto (pref.) . . • . 1ft ling., Scot. & Aus. s 10 ft National of N.Z. 7 7 0 New South Wales . 48 5 ft 47 15 New Zealand . . 3 0 6 Ditto, D mort. (los paid) Ditto D mort. (20s " 1 1 3 paid) — 1 6 3 Union of Australia INSURANCEb New Zealand . . 2 1 6 2 1 ft South British — 2 14 *» I.OAN AND AGENCY— Farmers’ Co-op. Auctioneering (A pi*ef.) ft .16 0 Ditto CB pef.) ft 14 6 < loldsbrough, Mort Newton King, Ltd. — 10 3 (nref.) 0 12 6 N.Z. & River Plate N.Z. Guar. Ccrp. — 1 9 6 (ord:) — ft 8 t (ord.) — 0 8 2 N.Z. Loan & Merc. 112 ft 0 104 0 0 Ditto (pref.) .. .. North Auck. Far- — 82 0 0 mers’ Co-op. (B pref.) — 0 6 0 COALHikurangl 0 4 3 0 3 1ft Ditto (pref.) .. ft 7 1L Dito (A pref.) .. . 0 6 6 Renown 15 Taupiri 1 7 6 1 6 9 Ditto (pref.) .. .. 1 3 0 Waipa 14 — Westport-Stockton 0 3 1 0 2 S GAS— Ditto (con.) .. .. n 17 0 16 10 Thames SHIPPING— 0 10 0 Devonport Steam .. 1 0 1 4 0 Howard Smith .. .. 1 6 ft Huddart-Farker Northern Steamship 2 s 0 3 7 0 (con.) 0 s 3 P. and O. (def. stk.) Union Steam Ship — 245 0 0 (pref.) — 1 0 3 TIMBER— Kauri Timber 1 ft 1 1 6 National 0 12 0 Parker-Lamb .. .. 0 19 0 — WOOLLEN— Ivaiapoi 0 8 9 Ditto (con.) .. .. 0 2 0 Mosgiel 6 16 0 A\ ellington BREWERIES— 0. L. Innes and Co. « 7 0 6 5r Ltd. (pref.) .. .. 1 ft 0 N.Z. Breweries MISCELLANEOUS— 2 6 0 Auck. Amus. Park A. .1. Entrican & Co. 0 9 0 — ( pref.) 0 1ft 0 British Tobacco 1 0 JBy croft. Ltd — 1 10 2

r.ui ers Sellers. £ *5. c £ d. Checker Taxicab .. 0 1H 0 Ditto (con.') . . 0 6 0 Colonial Sugar (Aus.) 59 10 0 Dom. Pictures 1 0 6 Ditto (pref.) .. .. 1 0 6 Donaghy’s Pope 1 14 0 Fuller’s Pictures 0 19 0 Grey and Menzies .. 0 12 ft Hayward’s Pictures 1 0 G 0 19 Hill and Plummer.. 1 6 H.M. Arcade Theatre (pref.) 1 0 0 Holden’s Motors 1 10 9 Kempthorne Prosser s 6 Lewis Eady. Ltd., (pref.) 1 0 0 Milne and Choyce.. 1 4 Ditto (pref.) .. .. 1 Ditto (B pref.) 1 4 Ditto (deb. stock) 6 N.Z. Express . . 1 0 0 N.Z. Paper Mills . N.Z. Refrigerating (con.) 0 Northern Boot .. . - 0 Sanford, Ltd Ditto (pref.) .. .. 1 Taranaki Oilfields . 0 8 Tonson Garlick . . .. 6 Union Oil Whittome, Stevensoi 2 8 5 0 Ditto (pref.) .. .. Wilsons Cement 1 19 MINING— Moanataiari (paid) 0 2 0 0 1 2 Empire Reefs (paid) 0 0 4 Kawarau New Walotahl (4s Ditto (con.) .. 61 — Occidental Una (2s paid) — 0 7 2 Waihi 0 12 Waihi Grand June. 0 1 6 AUSTRALIAN— * Mount Lyell .. .. 1 13 3 1 12 6 DEBENTURES — Auckland Gas, 1322, Ditto, 1935, 6i p.c. 101 10 104 10 0 104 0 0 Auck. Fire Board, 6 100 Bor. Devonport, 6 .. 100 0 Bor. Mt. Eden,, 53 . Ditto, 6 per cent. 101 Bor. of Hamilton, 6 100 0 0 Hamilton Theatres, 7 p.c 101 0 0 Ditto, 8 p.c 101 10 0 N.Z. Breweries .. .. 1 9 Glaxo — 90 0 GOVERNMENT BONDS 4J p.c 97 17 6 Ditto, 1938, 4h 97 10 0 Ditto, 1939, 4i 97 10 Ditto, 1941, 41 97 10 0 Ditto, 1933, 51 . . 101 0 0 100 0 0 Ditto, 1936, 51 .. — 100 0 0 INSCRIBED STOCK! N.Z. Ins. Stock, 192C — 98 0 0 Ditto, 1938, 41 .. 97 10 0 Ditto, 1939, 41 . . 97 10 0 Ditto, 1933, 51 . . 100 12 6 1 00 0 Ditto, 1936, 51 .. 100 10 0

Year ended Net Profit. Dividends. March, 1924 . £41,332 March, 1925 . £45,719 March, 1926 . £46,241 7 p.c. March, 1927 . £27,147 7 p.c. March, 1028 . £35,,144 5i p.c. 7 p.c.