FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 355, 16 May 1928, Page 14

FINANCE & MARKETS

’Change Market Steady

BANK OF N.Z. SHARES ACTIVE ALTHOUGH the market is quiet, a steady demand still exists for gilt-edged investments.

__ Bank scrip is attracting much attention, Bank of Australasia are keenly sought after at an increased price, while Bank of New Zealand are changing hands freely at 60s 3d. Insurance shares are also in de- < mand, considerable attention is being : drawn to both New Zealand and South British, which are improving in price. Coal scrip still continues to attract investors, Hikurangi, Taupiri and Westport shares being most prominent.

Government and local body securities are exceedingly firm, with few 1 sellers quoting. Yesterday afternoon’s business. —Reported: Tonson Garlick, 12s; Auckland Gas, 1935, 65 per cent., £103; New Zealand Breweries (deb.;, £1 3s 6d. Business at this morning’s early call. —On ’Change: Bank of New Zealand, £3 0s 3d. Business at to-day’s mid-day call.— Reported: Commercial Bank of Australia (ord.), £1 8s 9d.

TO-DAY’S QUOTATIONS

Closing quotations at mid-day to-day were:

SOUTHERN EXCHANGES YESTERDAY’S SALES Press Association . Wellington. —Gisborne Gas (debentures), £lO2 10s; Commercial Bank, 28s . 9d; Wellington Gas, 28s (two); Westport Coal, 30s (two); Electrolytic Zinc (ord.), 31s 3d; New Zealand Government 45 per cent. Stock (1939), £97 15s; Bank of New Zealand, 60s 3d; New Zealand Guarantee Corporation, 8s sd; Christchurch Gas, 245; Wellington Meat Export, 10s 9d; New Zealand Breweries (bonds), 23s Bd. Christchurch. —Australian Bank of Commerce, 34s 2d; Commercial Bank of Australia, 28s 9d (three); English, Scottish and Australian Bank, £8 8s 6d; Union Bank of Australia, £l4 19s, £l4 18s; Goldsbrough, Mort, 60s 9d; Howard Smith, 27s 6d; Hayward's Pictures, 20s (four). Dunedin. —English, Scottish and Australian Bank, £8 9s; New Zealand Insurance, 41s 6d; National Bank of New Zealand, £7 2s 6d; Goldsbrough, Mort, 61s (two). POTATO MARKET STEADY POSITION IN THE SOUTH Press Association. CHRISTCHURCH, Tuesday. There is no change to record in wheat values, which range about 5s 7d to 5s 8d at average stations. Oats are Arm at recent values, although there is* just a feeling that they have moved somewhat rajfldly into the air. The London parity is well below current values locally. However, there is a small amount offering, and previ-ously-mentioned rates are unaltered. Potatoes are also very much as recorded last week, though the Auckland market has improved a little. Prompt deliveries are worth £4 17s 6d to £5, f.0.b., s.L, or up to £3 15s on trucks. The Kairanga at the week-end took 5,074 sacks for Northern ports.' The next boat is the Kurow, on Thursday. Onions have improved in- price for good quality, which is hard to secure. They are now worth £4 to £4 5s a ton on trucks. DAIRYMEN MEET MELBOURNE CONFERENCE (United P.A. — By Telegraph — Copyright) MELBOURNE, Tuesday. An inter-State conference is being held in Melbourne by Australian and New Zealand managers of butter and cheese factories. Two hundred delegates are present. The Federal Minister of Markets, Mr. Thomas Paterson, said investigation concerning the deterioration of Australian butter on its arrival at London shown that factors other than the prohibition of boric acid as a preservative were responsible. Further experiments were in progress. The Federal Ministry was now considering a proposal to establish a Dairy Research Institute under t?ie leadership of a bacteriologist. A Victorian dairy superintendent *aid Victoria was tightening up the Dairy Act, with a view to ensuring the very best cream, as the factories could contaminated cream* :

LONDON MARKET VALUES DAIRY PRODUCE PRICES Cable advice has been received from London by Mr. G. Paviour Smith, stating: Weather cold, but dry; butter firm, but inactive at 168 s. Cheese quiet at 965. COMPANY REGISTRATIONS One public and three private companies were recently registered in Auckland. Details are:— Public Queen’s Arcade, Ltd. Objects: To acquire city properties, etc. Capital: £45,000, divided into £1 shares. Subscribers: Eliot R. Davis, Samuel Fletcher, Ambrose W. Good, Hector Morpeth, Charles J. Shaw, Andrew M. Paterson, Samuel Vaile and Sons, Ltd., eajch one share. Private Liberty’s Furnishing Warehouse, Ltd. Objects: To carry on the business of house furnishers, etc. Capital: £1,500, divided into £1 shares. Subscribers: Howard Newman, Spencer Layland and Sydney Robert Massaur, 500 each. Melville and Co., Ltd. Objects: To carry on the business of business and financial agents, etc. Capital: £1,500, divided into £1 shares. Subscribers: John Raymond, Charles F. Smith and Harold Pomfrett, each 500 shares. H. W. Frost (Christchurch), Ltd. Objects: To carry on t}ye business of dental surgeons, etc. Capital: £I,BOO, divided into £1 shares. Subscribers: Harold W. Frost, 1,798 shares: Albert E. Higgins and Charles A. Collier, one share each.

Sellers Buyers. BANKS— £ s. d £ s. d. Aua. Bank of Commerce 1 14 6 1 14 0 Bank of Adelaide .. 9 5 0 Bank of Australasia 14 0 Commercial of Australia 1 9 0 1 S 6 Ditto (con.) .. .. 0 12 3 Ditto (pref.) 6 19 0 En,?., Scot., & Aus. 8 10 0 S 0 National of N.Z. 7 2 0 7 1 0 Nat. of Australasia 18 8 0 18 0 0 Ditto (con.) .. .. 9 7 0 New South Wales .. 48 10 0 48 0 0 New Zealand . . 3 0 9 3 0 3 Ditto, D mort. (15s paid) 1 1 3 Ditto D mort. (20s paid) — 1 6 6 INSURANCE— New Zealand . • •. 2 2 0 2 1 6 South British .. .. 3 , 2 0 3 0 0 DOAN AND'AGENCY— Farmers’ Co-ofl. Auctioneering s 5 0 — Ditto (A pref.) .. 0 16 0 Ditto (B pref.) .. 0 14 6 Goldsbrough, Mort . 2 10 6 Newton King, Ltd. 0 12 6 0 10 6 N.Z. & River Plate 1 9 6 N.Z. Guar. Corp. . 0 8 1 N.Z. Loan & Merc. 110 0 0 104 0 0 Ditto (pref.) .. .. — 82 0 0 North. Auck. Farmers Co-op. (B pref.) . — 0 6 0 COAL— Renown (ord.) 0 15 0 Hikurangi (ord.) 0 Id 0 — Ditto (pref.) .. .. 0 3 11 Ditto (A pref.) . 0 6 9 Pukemiro 3 6 0 Taupiri 1 0 Ditto (pref.) .. .. 1 0 "Waipa 0 14 9 Westport 1 10 6 1 9 9 Westport-Stockton — 0 2 11 Ditto (pref.) .. .• — 0 3 2 GAS— Auckland .. .. -- 1 3 9 1 2 3 Ditto (con.) .. .. 0 17 6 0 16 9 Birkenhead and 0 17 0 Thames .. .. •. .. 0 10 0 — SHIPPING— Devonport Steam * 1 4 9 1 4 3 Howard Smith .. .. 1 « 9 H uddar t-Parker 2 6 9 Northern Steamship (con.) •• .. .. .. 0 8 0 — TIMBER— Kauri Timber .. .. 1 2 0 Leyland-O’Brien 1 15 0 — National 0 12 0 Parker-Lamb .. .. 0 19 0 WOOLLEN— Kaiapoi 0 10 0 0 8 9 Ditto (con.) .. .. 0 2 0 Mosgiel .. .. •. .. 6 17 6 W ellington .. . • . . 6 7 6 — BREWERIES— C. L. Innes (pref.) 1 0 0 N.Z. Breweries 2 5 3 Ditto (pref.) — 6 5 0 MISCELLANEOUS— l Auck. Amus. Park 0 9 0 A. J. Entrican & Co. (pref.) 0 19 0 — Australian Glass .. 2 3 0 British Tobacco 2 3 6 2 1 6

Sellers Buyers. Burns Phi Ip (ex div) 2 2 0 Bycroft, Ltd 10 G Checker Taxicab .. 0 15 0 Col. Sugar (Aus.) . 59 10 0 Dental and Medical 0 16 0 Dom. Pictures Ditto (pref.) .. .. 1 0 C Electrolytic Zinc (ord.) 1 12 0 Ditto (pref.) 1 13 Puller’s Pictures .. 0 19 3 Gear Meat 2 0 0 Grey and Menzies .. 0 12 0 Hayward’s Pictures 1 1 0 0 19 10 Henry Jones 1 18 0 Hill and Plummer.. 1 2 6 H.M. Arcade Theatre (pref.) .. .. 1 0 0 Kempthorne Prosser 3 8 6 Lewis Eady, Ltd., (7 p.c. B 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 3 6 National .. 0 15 0 N.Z. Farm. Fert. .. 100 0 0 N.Z. Paper Mills .. 0 14 6 N.Z. Refrigerating (con.) 0 8 6 0 8 Sanford, Ltd 1 0 6 19 3 1 3L 0 1 0 0 Taranaki Oilfields . 0 9 0 0 8 3 Tonscn Garlick .. .. 0 13 6 0 12 0 Union Oil 2 1 0 Wairakei, Ltd 0 15 Whittome, Stevenson 2 8—0 2 5 b Wiseman & Sons (pref.) 0 12 6 Wilsons Cement 1 19 6 1 18 9 MINING— Alburnia 0 0 9 — Moanataiari (paid) . 0 1 10 0 1 0 Ditto (con.) .. .. 0 0 9 New Waiotahi (con.) 0 0 6 — Occidental Una (2» paid) 0 1 6 — Ditto (con.) .. .. 0 l 0 — 0 7 1 Waihi 0 12 6 0 12 0 Waihi Grand June. 0 1 5 0 1 Mount Lvell .. .. 1 13 0 1 DEBENTURES— Auckland Gas, 1935, 6& per cent, .. .. 104 0 0 102 0 0 Auck. Har. Bd., 6 105 0 0 City Auck., 1940, 51 98 0 0 96 0 0 98 0 Auck. Fire Board, 6 100 0 0. Bor. Devonport, 6 . 100 0 0 Bor. Mt. Eden, 5| . 100 0 0 Bor. of Hamilton, 6 100 0 0 N.Z. Breweries, 7 101 0 0 — Ditto, 8 101 10 0 — S. R. Maxwell, Ltd 1 3 8 1 3 0 Glaxo — 90 0 0 GOVERNMENT BONDS War Loan, IS 30, 4J p.c 97 17 6 Ditto, 1938, 41 .. 97 10 0 Ditto, 1939, 41 97 10 0 Ditto, 1933, 5* 100 0 0 Ditto, 1936, 51 .. — 100 0 0 INSCRIBED STOCK — N.Z. Ins. Stock, 1929, 5 P.c 97 0 0 Ditto, 1938, 41 .. 97 12 6 Ditto, 1939, 41 .. 98 0 0 97 12 6 Ditto, 1927-41, 54 99 0 0 98 0 0 Ditto, 1933, 51 .. 100 12 6 100 5 0 Ditto, 1936, 51 .. — 100 10 0