FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 429, 10 August 1928, Page 12

FINANCE & MARKETS

N.Z. Banks Active WAIHIS IMPROVE A HEALTHY tone continues to be registered on ’Change, with a steady demand for all the better class securities.

In banks. New Zealands are active at « 60s 3d. Commercials are very firm, i sales taking place at up to 30s 2d. Widespread interest is taken in in- 1 surance scrip, and sellers of A.P.A.’s, Queensland and TJniteds came in this morning after a long absence. In the loan and agency section North Auckland Farmers’ Co-operative ordin- i aries have found a market, with buyers in at a bedrock of Is. In coals, Renowns found support at mid-day, buyers coming in at 10s. Devonport Steams are very firm, with buyers improved to 24s 3d. Woollens are in good tone, with sellers hard to locate. Waihis add life to the mining section. the market for the scrip improving in sympathy with the movement

elsewhere, to see business at mid-day VLt 13s. Slightly less attention is being paid to gilt-edged securities, but the market remains very firm. Y'esterdav afternoon’s business.—On ’Change: National Pictures, 13s 6d. Reported: Commercial Bank of Australia, 30s lOd, 30s 2d; Wilsons Cement, 38s; Hayward’s Pictures, 20s; Auckland Gas, 22s sd. Business at this morning's early call. —Reported: Bank of New Zealand, GOs 3d. Business at mid-day.—On ’Change: Bank of New Zealand, 60s 3d (two parcels); New Zealand War Loan, 1938, 43< per cent., £99; Waihi Mining, 12s lid and 13s. Reported: Bank of New Zealand, 60s 3d.

TO-DAY’S QUOTATIONS j

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

SOUTHERN EXCHANGES YESTERDAY’S SALES Press Association. Wellington.—New Zealand Government, , per cent. Stock (1936). £lOl 2s 6d; Bank of New Zealand (two), 60s 3d: ‘ Waihi Minins, 13s. Christchurch. —Commercial Bank of 1 Australia, 30s (three); National Bank of < -Australasia (£5 paid), £9 6s; Union i Bank of Australia, £ls Is; National In- i surance, 16s Id; Goldsbrough Mort. 50s ] ♦id (.two); Kaiapoi Woollen (7s paid), 2s 8d; Stockton Coal (ord.), 3s 8d; Tooth’s Brewery, 45s 6d; British Tobacco, 42s 7d. 42s 9d. GRAIN FOR THE EAST (United P.A. — By Telegraph Copyright) (United Service) VANCOUVER, Thursday. The people of China and Japan are learning to eat bread. More Canadian grain was shipped to the Orient last year than in any previous three years. According to official figures published by Mr. Sproule, director of the Western Canadian wheat pool at Calgary, the demand in the past 10 months was greater than could be met. The pool has become the greatest organisation of its kind in the world, said Mr. Sproule. Prosperity abounded in Western Canada. It had been created by .60 per cent, of the farmers who had banded together co-operatively. The other 40 per cent, carried no burden, yet they shared in the benefits. That was not fair. They had compulsory education, so why not compulsory cooperation. BUTTER AND CHEESE Merchants report receipt of overseas cables reading as follows: Amalgamated Dailies, Ltd., from their London house, iinder date August 9: ’Butter: Our price unchanged; Anchor, l'bs; generally at 182 s to lS4s; market ; hrm, better demand; Danish, 17Ss. Cheese: W hite. 112 s; coloured, Ills; market firm.’’ L.. Norden and Company, from their London principals, Andrew Clement and Sons, under date August 9: “New Zealand butter, unsalted. 188 s; salted. 184 s (f.o.b equwaient Is 5.03 d a lb). Cheese, white, li-s (f.o.b. equivalent, 10.25 d a lb); coloured. ills.” Messrs. Dalgetv and Company, Ltd., from their London house, dated 9th inst. • —“Butter: The market is firm. New ' Zealand finest salted, lS2s to 3 86s; Danish. lS2s to lS4s: Australian, finest un- < salted, 17Ss to 3«S2s; Australian, finest < salted, 168 s to 1745; Australian G.A.Q., \ 3 60s to 1645. Cheese: The market is < firm. New Zealand white, Ills to 112 s; i New Zealand coloured. 110 s to Ills; Canadian. white and coloured, 109 s to Ills; , Canadian c.i.f.. 109 s to 109 s 6d.“ < The New Zealand Loan and Mercan- ' tile Agency Co., Ltd., reports having re- . ceived the followin'- cablegram from its London house, dated August 8: Dairy produce: Butter. New Zealand choicest ! salted. 3825; ‘-heese. 313 s to 13 2s. wrn»i i i —— i i i——m———— t

PRICE OF MEAT ADVANCE IN CHEAP BEEF LINES An advance of id to Id a lb in certain of the cheap lines of beef is announced by the Auckland Master Butchers’ Association. Topside (41b and over) is advanced from 5d a lb to sid a lb. A similar change is noted in the price of bolars and thick flank. Gravy beef or skin and sausage meat is advanced from 4d a lb to 5d a lb. Other lines of meat are unaltered.

Sellers. Buyer BANKS — s. d £ s. d. Aus. Bank Coni. . . 1 13 9 Coni. Bank Aust. 1 10 9 1 10 0 Ditto (pref.) — 7 3 0 Com. Bank Sydney 20 it — Eng., Scot.. Aus. . . 8 10 6 Nat. of N.Z 7 5 6 c Nat. of Aust. (con.) 9 7 0 9 5 0 Ditto (ord.) . . . . — 18 13 0 New South Wales .. 50 10 New Zealand Ditto D. Mort. (20s 3 0 6 3 0 0 paid) INSURANCE— 1 7 3 A.P.A 0 9 0 National 0 10 0 15 11 New Zealand .. .. u 3 South British .. .. 3 0 9 Standard — 3 4 6 Queensland 3 6 0 — United 11 5 LOAN AND AGENCY — 0 Farmers’ Co-op. 3 0 0 2 12 0 Ditto A (pref) — 0 16 Ditto B (pref) — 0 15 3 Goldsbrough, Mort 2 11 0 2 10 0 Newton King 1 (pref). 0 7 6 0 6 4 N.Z. River Plate 1 10 6 Lean and Merc. .. 107 0 0 Ditto (pref.) North Auck. Farm. — SO 0 0 Co-op A (pref) 0 11 6 Ditto B (pref) Ditto (ord.) .. •• COAL— 0 1 0 Hikurangi 0 6 2 0 5 11 Ditto (pref) . . . . 3 Ditto A (pref) 0 9 6 0 8 9 Pukemiro 3 7 6 Renown 0 12 0 0 10 0 Taupiri .. .. .. .. — 1 6 6 Ditto (pref) . . . . — 1 3 Waipa 0 14 6 — Westport 1 11 0 — Westport-Stockton 0 3 9 0 3 6 Ditto (pref ) .. .. — 0 4 0 GAS— Auckland 1 2 5 1 2 4 Ditto (con) .. .. 0 16 10 0 16 3 SHIPPING — Devonport. Steam .. 1 4 9 1 4 3 .Howard Smith 1 8 Huddart-Parker — 2 9 0 Northern Steam 0 14 S — Ditto (con.) 0 7 0 — Union Steam (pref.) — 1 0 3 TIMBER— Bartholomew — 0 15 0 Kauri Timber . . *. 0 19 3 0 18 6 Leyland-O’Brien 1 13 0 1 10 6 National 0 11 0 0 7 0 WOOLLEN— Kaiapoi — 0 10 9 Ditto (con.) .. .. — 0 2 6 Ditto (pref.) .. .. 0 14 6 Mosgiel 7 0 0 Wellington 6 7 Ditto (pref.) .. .. BREWERIES— ~ 6 10 0 C. L. Innes .. .. 1 1 0 0 17 0 Ditto (pref.) .. .. 1 1 0 0 IS 0 N.Z. Breweries .. .. 2 9 0 —

Sellers. Buyers. MISCELLANEOUS— Auck. Amuse. Park 0 7 0 British Tobacco 2 9 2 Burns, Philp . . 2 5 6 Bycroft, Ltd 1 15 0 1 10 6 Checker Taxicab Co. 0 10 0 0 0 Col. Sugrar (Aus.) .. 60 0 0 5S 10 0 Dental Supply . . . . 0 14 3 Dominion Pictures . . — 1 1 0 Ditto (pref.) .. .. — 1 1 0 Electrolytic Zinc (orcl.) 1 13 6 1 12 6 Ditto (pref.) .. .. 1 14 Gear Meat Co. 0 Grey and Menzies . . 0 9 Hamilton Theatres 0 17 0 Hayward’s Pictures 1 1 0 0 19 6 Henry Jones 1 17 0 Hill and Plummer .. — 1 1 9 H.M. Arcade (pref) — 1 0 6 Holden’s Motors — 1 11 0 Kempthorne Prosser 11 0 3 9 6 Milne and Choyce . . 1 4 6 Ditto (pref.) .. .. 1 4 6 Ditto (“B” pref.) 1 4 6 Ditto, deb. stock . 1 4 0 National Pictures . 0 14 3 Farmers’ Fertiliser 4 8 0 4 6 N.Z. Paper Mills .. 0 16 3 Morris Hedstrom . . 1 1 1 0 6 N.Z. Refrigerating. . — 0 IS 3 Ditto (con.) . . . . 0 9 1 0 X Robinson Ice Cream 1 0 1 3 Sanford. Ltd. (pref.) 1 0 0 19 9 Sharland and Co. . . Taranaki Oil 0 9 9 0 8 9 Ton son Garlick 0 12 0 Union Oil 2 3 6 2 2 Wilsons Cement .. 1 18 6 1 17 6 MINING— Moanataiari (pd.) .. 0 2 0 0 1 0 Golden Age (pd.) . . 0 0 New Waiotahi (con.) 0 0 4 Occidental - Una (con.) 0 0 4 Ohinemuri (ord.) . . 0 7 4 0 7 1 Ditto (pref.) .. .. 0 9 6 Waihi 0 13 0 0 12 10 Waihi Grand Junetion 0 1 0 1 3 Mount Lyell 1 15 9 — DEBENTURES— Auckland Gas, 1932, 5 p.c 93 0 0 Ditto, 1935, 61 p.c. 103 5 0 102 10 0 Auckland Harbour Board, 89 0 0 Ditto, p.c 9b 10 0 Ditto, 55 p.c 99 10 0 Ditto, 6 p.c 101 0 0 City of Auckland. 1940, 51 p.c 95 10 0 Ditto, 1943, 55 p.c. 99 10 0 Bor. of Devonport, 6 100 0 0 Bor. Mt. Eden, 52-• 100 0 Ditto, 6 p.c 102 0 0 Bor. Hamilton, 6 . . 100 0 0 1 4 0 1 10 Glaxo 9b 0 0 90 0 0 GOVERNMENT BONDS — War Loan, 1938, 41 p.c. — 98 15 0 Ditto, 1939, 45 p.c. — 98 la 0 Ditto, 1941, 45 p.c. — 98 10 0 Ditto, 1936, 55 p.c. — 101 0 0 INSCRIBED STOCK War Loan, 1938, 45 P — 98 15 0 Ditto, 1939, 45 P.c. 98 lb 0 Ditto, 1936, 55 P.c. 101 7 6 100 lb 0 Ditto, 1933. 51 p.c. — 99 0 0