FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 397, 4 July 1928, Page 12

FINANCE & MARKETS

’Change Market Steady

Insurance scrip maintains a keen demand. National, New Zealand, and South British being the companies attracting most attention. Dalgety and Co. still improve, buyers oflering €l4 15s, sellers quoting at €ls. National Mortgage and Agency Co., and New Zealand Loan and Mercantile. are also keenly sought after, no sellers appearing in either case. Coal securities are firm, Hikurangi, Pukemiros, and Taupiri shares being most prominent. Huddart-Parker shipping shares are steadily improving. Timber shares are a litle more active, although little business is being transacted. Colonial Sugar Company ( Australia) scrip is selling freely at €59 17s 6d. at which figure considerable business is being recorded.

BANK SCRIP FIRMER ALTHOUGH little business is being recorded, the general Cl tone on the market is good. Bank shares are still sought after by the investors and high figures are quoted for most of these securities.

All Government and local body securities are in demand, with few sellers quoting. Yesterday afternoon's business: On 'Change—South British Insurance, £3. Reported.—Hikurangi Coal <ord.). Ss 3d; Robinson Ice Cream, £1 2s Gd; New Zealand Inscribed Stock, 1927-41, 5-i per cent., £9B I7s 6d; New Zealand Inscribed Stock, 1933, Si per cent £IOO 15s. Business at this morning's early call: On 'Change—Caledonia - Kuramii - Moanataiari Gold Mining Co. (paid). Is 6d. Reported:—Commercial Bank of Australia (ord.), £1 9s 8d; Ohinemuri Gold and Silver (pref.), 7s 9d. Business at to-day’s mid-day call: On 'Change—South British Insurance, £3; Caledonia-Kuranui-Moanataiari Gold Mining Co. (paid). Is 6d; Mount Lyell Mining and Railway, £1 13s 6d. Reported: Colonial Sugar (Australia), £59 17s 6d.

TO-DAYS QUOTATIONS

Closing quotations at to-day’s mid- day call were:

SOUTHERN EXCHANGES

YESTERDAY’S SALES Press Association. Wellington. —Commercial Bank, 29s 7d. Sales reported: 5i per cent, stock (1933), €99 2s 6d; Bank of New South Wales, €49 15s: National Insurance, 15s lOd. Christchurch. —Commercial Bank of Australia, (new, 5s paid), 18s lOd (two parcels): National Insurance, 15s lid (two parcels); Dalgety and Company, €l4 17s 6d; New Zealand Breweries. 40s 9d; British Tobacco, 42s 9d; New Zealand Government 41 per cent. Inscribed Stock. 1935, £9S 2s 6d; 5J per cent. Inscribed Stock. 1941, £9B 17s 6d; Bank of New South Wales, £4O 15s; Colonial Sugar, £ 60. , Dunedin. —Westport Coal, 30s 4d; New Zealand Breweries, 41s (two parcels); D.I.C. (pref.), 21s; Wilsons Cement, 37s 9d; 5 per cent. Inscribed Stock, 1929. £9S 10s.

NEW ZEALAND MEAT

RETAIL PRICES IN LONDON The New Zealand Meat Producers' Board has been advised by its London manager that the following retail prices are being quoted for New Zealand lamb and mutton retailed in London on June 29. 192S; — Lamb.—Legs. 13d a lb: shoulders, 14d; loins. 14d: nocks. Sd; breasts, 6d. Mutton (wether). —Legs, lid a lb; shoulders, lOd; lions, lOd; necks, 71d; breasts, 3 id.

POTATO MARKET EASIER

Press Association. CHRISTCHURCH. Tuesday. Potatoes are not so firm as a week ago. A new month generally brings a slacker inquiry, and in the present instance this tendency has been assisted by shipments pending. The Waitomo is expected to sail to-morrow with :'l*out 4.000 sacks will probably be lifted about 4.00 Osacks will probably be lifted from Timaru and Oamaru. There are very few potatoes in store in Auckland, and these shipments will speedily go into • onsumption. During the last week of June. 4.940 sacks were dispatched from Lyttelton to Auckland. 5.441 to Wellington. 1.314 to Napier and Gisborne, and '.-"SI to West Const ports in the North Island. Fewer potatoes have gone to Auckland this season than to the other ports, the exportation figures being 77.915 and 78.654 sacks. Values for prompts are £6 2s 6d f.0.b.. s.i.: July, £6 5s to £6 7s 6d: and August-Septem-Oats are sluggish, and are quoted at is lid to 4s 2d, f.0.b.. s.i., for A Gartons. Pales of IT’s have been made to Australia at 3s 9d. and of Algerians at ::s 7d. f.0.b.. s.i. Milling wheat is firm, and there is a good inquiry from forward sellers at 5s Sd on trucks.

LONDON WOOL SALES

NEW ZEALAND ARRIVALS Dalgety and Company have received a cable from their London house, dated July 3:—AA'ool: The following vessels have arrived in time for the sales: Corinthic., Anglo Columbian, lonic, Kia Ora', Mamari. Pakeha, Piako, Rotorua, Ruapehu, Zealanriic. We will sell on the 13th inst., and 19th inst. FLAX GRADING RETURNS A marked increase is registered in the flax-grading returns for the port of Auckland for June, compared with those for the corresponding month of last year. This is accounted for by the fact that more favourable weather conditions allowed the majority of the mills to work later in the season last vear. | Returns for June, 1928. are as follow, the figures for the corresponding month of last year being given in parentheses:— Hemp.—High fair, 186 bales (280); fair. 578 (745): low fair, 24 ( —); common. 98 (333); rejected, 23 (13). Total, 909 (1.371). Tow.- : No. 1, No. 3, 128 (197); condemned, 21 (17). Total. 296 (510). Stripper Slips.—No. 2, for export. 7 ( —); stripper tow.

Sellers. Buyer: s. BANKS— Aust. Bank Com. . . 1 16 0 1 15 3 Bank Adelaide . . . . Bank Australasia .. 14 16 6 14 13 Com. Bank Australia 1 ft ft 1 7 Ditto (pref.) 7 ft 0 < *om. of Sydney ft Knp., Scot. & Alls. X J:: 8 Jft 0 Nat. of N.Z n 0 Nat. of Ails. (con.).. i 0 New South Wales .. 4ft 0 ft New Zealand . . 1ft C» 1ft* 3 Ditto (Morts. 20s paid) 1 ft 1 0 Union of Australia.. 15 1 0 14 IS 6 INSURANCE— National 0 9 New Zealand . . . . 2 ft 2 South British . . . . 3 0 0 2 1ft ft LOAN AND AGENCY— Dalgety and Co. 15 0 0 14 15 0 Farmers’ Co-op. Auc 3 0 ft 1ft ft I )itto ( R pref.) ft 15 3 Goldsbrough, Mort . 2 ft 0 8 ft Nat. Morts. and Agency 18 0 Now ton Ivins (pref) . 0 13 0 N.Z & River Plate 1 0 6 N.Z. Guarantee Cor. ft X X N.Z. Loan and Merc. 105 0 Ditto (pref.) .. .. — 8ft ft 0 COAL— Renown (ord.) .. .. 0 13 6 Ditto (pref.) .. .. 0 2 3 — Hikurangi 0 5 0 Ditto (pref) .. .. 0 8 ft Pit to (A pref. > 0 S ft Pukemiro X ft 0 Taupiri 1 6 6 1 6 Ditto (pref) l 0 Waipa 0 14 6 Westport — 1 10 0 Westport-Stockton . —* 0 3 1 GAS— Auckland T 3 Ditto (con.) .. .. 0 17 6 0 17 0 SHIPPING— Devon port Steam . . 1 5 0 Howard - Smi t h 1 X 1 6 Huddart-Parker .. 2 a 3 2 X ft Northern Steam , . 0 15 0 Ditto (con.) .. .. 0 7 2 P. and O. (def. stock) 240 ft 0 0 ft Union Steam (pref.) — 1 0 0 TIMBER— Kauri Timber .. .. 0 1-ft 0 Leyland-O’Brien 1 14 ft 1 11 ft National 0 11 0 0 (i 6 WOOLLEN— Kaiapoi 0 1ft 0 0 ft 0 Ditto (pref.) .. .. 0 15 6 Wellington —• 4 0 Ditto (pref.) .. .. — 6 6 0 BRE WERI.ES— C. L. Innes & Co... 0 15 J. Staples and Co. 1 16 6 MISCELLANEOUS— Auck. Amuse. Park. 0 8 0 0 -I 0 A. J. Entrican (pref.) ft 1ft 0 Australian Glass . . ft British Tobacco 3 2 9 Burns, Philp and Co. Bycroft. T-td 1 10 0 Colonial Sugar (Australia) 60 0 59 10 0 Dental and Medical Supply Co 0 14 6 —

Sellers. Dominion Pictures . Ditto (pref.) .. .. Electrolytic Zinc (ord.) 11 Ditto (pref.) . . . . 1 33 0 !• tiller s Pictures (ex div.) 0 19 9 Gear Meat 3 18 Grey and Menzies . 0 6 Hayward s Pictures (ex div.) 0 19 9 Hamilton Theatres . 0 17 0 Henry Jones Co-op. I 16 0 Hill and Plummer . 1 H.M. Arcade Theatre (pref.) 1 0 0 Milne and Choyce . . l 4 6 Ditto (pref.) .. .. 1. 4 6 Ditto (B pref.) . . 1 4 Ditto (deb. stock). 1 3 9 Morris Hedstrom .. 1 1 6 National Pictures .. 0 12 0 N.Z. Farmers’ Fertiliser Co 4 10 0 4 2 0 N.Z. Refrigerating- . 0 18 9 0 18 3 Ditto (con.) .. .. 0 8 8 0 8 6 Perdiau Rubber 1 15 0 — Robinson Ice Cream 1 4 0 — Sanford, Ltd 1 0 0 — Ditto (pref.) .. .. 1 0 9 — Sharland and Co. .. 1 1 0 — Taranaki Oilfields . . 0 11 3 0 10 D Union Oil 2 3 0 2 1 9 Whittome Stevenson 2 8 0 2 6 6 Wilsons Cement . . 1 18 3 1 17 6 MINING— Moanataiari (paid) . 0 1 10 0 1 Ditto (con.) .. .. 0 0 6 — Golden Age (paid) . 0 0 3 0 0 1 New Waiotahi G.M. (4s paid) — 0 0 Ditto (con.) .. .. 0 0 44 0 0 i Occidental (2s pd) . 0 J 0 .0 Ditto (eon.) .. .. 0 0 8 0 0 2 Ohinemuri (ord.) .. 0 7 0 6 10 Waibi 0 11 9 0 11 7 Waihi Grand June. . 0 1 5 0 1 3 Mount Lyell 1 14 0 1 13 6 DEBENTURES— Auckland Gas, 1932, 5 per cent — 92 0 0 Ditto, 1935, 62 p.c. — 102 0 0 Auckland Harb. Bd., 4 per cent — 88 0 0 Ditto, 5i p.c — 95 0 0 Ditto, 5J p.c —.. 98 0 0 City of Auckland,, 1940, 5J p.C — 95 0 0 pitto, 1943, 5J p.c. — 98 15 0 Bor. of Devonport, —. 100 0 0 Bor. Mt. Eden, 53 — 100 0 0 Dittp, 6 p.c — 302 0 0 Bor. Hamilton, 6 p.c. — 100 0 0 J-JamiJton Theatres, 7 105 0 0 — Glaxo 90 0 0 N.Z. Breweries 1 2 10 1 2 7 GOVERNMENT BONDS N.Z. War Loan, 1930. 42 p.c 97 37 fi Ditto, 193S, 4* p.c. 97 17 Ditto, 1939, 4} p.c. — 97 37 6 Ditto, 1941, 4A p.c. — 97 30 0 Ditto, 1933, 42 p.c. — 100 10 0 Ditto, 1936, 52 p.c. — 100 10 0 INSCRIBED STOCK N.Z. War Loan, 1938, 42 p.c. — 97 17 6 Ditto, 1939, 42 p.c. — 97 17 6 Ditto, 1933, 52 p.c. 100 7 6 Ditto, 1936, 5J p.c. 100 10 0 Ditto, 1930, 52 p.c. 100 0 0 —