FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 433, 15 August 1928, Page 12

FINANCE & MARKETS

Market on ’Change Active

New Zealand Insurance Selling

A BRIGHTER tone prevails on the market this morning and considerable business has been transacted. New Zealand Insurance are exceedingly firm ex dividend, sales being recorded at the early call at 435, leaving the market with keen buyers at the same figure.

Bank scrip remains quiet but firm. National Bank of Australasia sold at late call yesterday at £lB 17s 6d; NewSouth Wales remain steady, while Union of Australia have steady buyers at £l4 19s, no shares offering. Insurances are in demand, Nationals have steady buyers at 16s, New Zealands are exceedingly firm with buyers 435, sellers 43s 9d; South British also has a keen buyer at 61s no seller appearing. Hikurangi Coals (ord.) are selling at 6s, leaving the market unchanged. Pukemiros have keen buyers at 68s; Taupiris, both ordinary and preference, are in demand. Auckland Gas are steady, buyers quoting at 22s 4d, sellers 22s 6d; a sale was also recorded at 22s sd. Kauri Timber shares are quietly

selling at 19s, leaving little change in the market. Electrolytic Zinc, both ordinary and preference shares, are sought after at increased figures, and a sale has been recorded in the latter at 345. In the mining section Waihi and Ohinemuri scrip are most prominent, though little business has been transacted in this section. Yesterday afternoon’s business.—On ’Change: Reported, National Bank of Australasia, £lB 17s 6d. Business at this morning’s early call.—On 'Change: New Zealand Insurance, £2 3s; Hikurangi Coal (ord.), 6s; Auckland Gas, £1 2s sd; Kauri Timber, 19s; Electrolytic Zinc (pref.), £1 14s. Business at to-day’s mid-day call.— On ’Change: Reported, Kaiapoi Woollen, 11s 6d; New Zealand Inscribed Stock, 1936, 5£ per cent., £lOl 2s 6d.

TO-DAY’S QUOTATIONS

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

INCREASED EXPORTS

BRITISH TRADE FIGURES (United I*.A.—By Telegraph — Copyright) (Australian and N.Z. Press Association.) LONDON, Monday. The Board of Trade returns for July show that the value of imports into the United Kingdom was £95,448,000, an increase of £2,086,000; that of exports. £60,885.000, an increase of £4,764,000; while re-exports at £8,454,000 were lower by £1,229,000. The principal increases were:—lmports: Grain and flour, £829,000; meat, £933,000; dutiable food and drink, £965,000; raw cotton, £2,014,000. Exports: Cotton yarns and manufactures, £873,000: vehicles, £2,133,000. The principal decreases were:—lmports: Wood and timber, £1,668,000; wool. £1,063,000; rubber, £1,137,000. Exports: Iron and steel manufactures, £899,000.

BUTTER AND CHEESE

S. Paviour-Smith has received from his London principals, the Anglo-Contin-ental Produce Company, Ltd., the following cable market report dated August Market stea <iy- Butter, lS4s; cheese,

LONDON MARKETS

(Australian and N.Z. Press Association.) (United Service) LONDON, Monday. Wheat. Cargoes are steady and sellers are asking 3d to 6d advance, but buyers have not followed. Parcels are steadily held at threepence higher, but business is small. Liverpool futures: October, 8s 82d per cental; December, 8s 10 3-8 d; March, 9s O^d. BRADFORD TOPS At Bradford there is a holiday wool market and a poor attendance. Quotations are unchanged. THE METAL MARKETS (Quotations on August 9 in parentheses.) Electrolytic Copper.—Spot, £6B 15s (£6B 15s); three months, £69 5s (£69 ss). Wire Bars.—Spot, £69 5s (£69 ss); three months, £69 5s (£69 ss). Copper.—Spot, £62 8s l£d (£62 8s 9d); three months, £62 18s lid (£62 18s lid). Lead.—Spot, £2l 12s 6d (£2l 2s 6d); three months, £2l 12s 6d (£2l ss). Spelter.—Spot, £24 7s 6d (£24 8s 9d); three months, £24 12s 6d (£24 13s 9d). Tin.—Spot, £213 12s 6d (£215 7s 6d); three months, £2ll 8s 9d (£212 12s 6d). Silver.—Standard, 27-id (27 5-16 d) per oz.; fine, 29 7-16 d (29Jd). P. AND O. SHARES P. and O. deferred stock is quoted at £233 5s Od. THE PRICE OF GOLD Gold is quoted at 84s 10id per oz. LEAD The imports of lead were 22,253 tons (Australian 5,805) and exports, 3,271.

TUNING NEWS

KURANUI.—The manager reports: “The drive on Barry’s reef has been continued a further 6 feet for the week, making a total of 36 feet from the crosscut. The country in this drive is of a most favourable nature for making values but is still very hard. The reef still averages about the same size and the quartz looks very promising. The drive on Ross reef has been extended 5 feet for the week, making a total of 50 feet. This reef is still very small and much disturbed on account of the country being met with which is not of a very favourable nature, and is very much broken up.” OCCIDENTAL UNA.—The manager reports: “The drive on the Loyalty reef has been extended a further 6 feet. The reef is 3 feet wide where it crosses the flinty, and has every apeparance of making good values by further driving on. The quartz broken for the past week carries a fair amount of mineral and silica. A few colours of gold were seen in the stone where the flinty runs into the reef. A new set of rods has been placed in position and the pump is working smoothiv "

Sellers. Buyers. s. d. £ s. d. BANKS— Aus. Bank of Com. 1 14 6 1 13 6 Com. Bank Aust. . 1 11 ft 1 9 9 Ditto (pref.) . . . . 5 0 Com. Bank Sydnev . 26 10 ft 26 0 0 Eng., Scot., Aus. . . — 8 9 0 Nat. of N.Z — 7 3 6 . Nat. of Australasia 18 14 0 Ditto (con.) . . . . 9 7 0 9 5 6 New South Wales . 50 10 ft 50 ft 0 New Zealand . . . . — 3 ft 3 Ditto D. Mort. (20s paid) — 1 7 3 Union of Aust. — 14 19 0 INSURANCE— 0 0 ft New Zealand .. . . 3 9 0 National ft 16 0 Queensland 3 5 6 South British .. .. 3 1 0 United — 11 0 0 LOAN AND AGENCY— Abraham & Williams (pref.) 4 3 6 Farmers’ Co-op. 3 0 0 12 0 1 Ditto A (pref.) — ft 16 3 Ditto B (pref.) .. ft 15 9 ft 15 3 Coldsbrough, Mort . 11 3 10 6 National Mort. 4 2 6 Newton King- (pref.) 0 6 4 N.Z. River Plate — 1 10 6 N.Z. Guar. Corp. . . — ft 8 9 Loan and Merc. . . — 108 0 0 Ditto (pref.) .. .. 81 ft 0 North Auck. Farm. Co-op ft 1 6 Ditto A (pref.) .. ft 11 6 Ditto B (pref.) .. — 0 8 6 COAL— Renown (ord.) .. .* 0 12 ft Hikurangi ft 6 ft 0 11 Ditto (pref.) .. .. 0 9 3 Ditto A (pref.) .. 0 9 3 ft 8 9 Pukemiro 8 0 Taupiri .. 1 7 0 Ditto (pref) . . . . 1 3 0 Waipa 0 14 6 Westport-Stockton . c 3 10 0 3 6 Ditto (pref.) .. .. — 0 4 0 GAS— Auckland 1 2 6 1 2 4 Ditto (con.) .. ... — ft 16 3 SHIPPING— Devon port Steam . . 1 4 9 1 3 6 Howard Smith 1 8 0 Huddart-Parker 9 3 Northern Steam .. ft 14 6 0 14 0 Ditto (con.) ft 7 0 Union Steam (pref.) — 1 0 3 TIMBER— Bartholomew 0 15 0 Kauri 0 19 3 ft 19 0 Ley land-O’ Brie n 1 15 1 National 0 11 0 0 7 0 WOOLLEN— Kaiapoi ft 11 9 0 11 4 Ditto (con.) . . . . (] 3 0 0 7 Ditto (pref) ft 14 6 Mosgiel 7 6 Wellington (ord.) .. — 8 0 Ditto (pref.) .. .. — 6 10 0 BREWERIES— C. L. Innes 0 18 0 Ditto (pref.) .. .. 1 ft 6 <1 IS 6 N.Z. Breweries . . . . 0 2 7 0

Sellers. Buyers. MISCELLANEOUS— Auck. Amuse. Park 0 7 0 British Tobacco 3 Burns, Philp .. — 2 5 0 Bycroft, Ltd 1 15 0 1 10 6 Checker Taxicab Co. 0 10 0 0 0 Col. Sugar (Aus.) . 59 5 0 Dental and Medical 0 14 3 Dominion Pictures .. 1 1 0 Ditto (pref.) .. .. — 1 1 0 Dunlop Rubber Co.. Electrolytic Zinc — 1 4 3 (ord.) 1 13 1 13 0 Ditto (pref.) .. .. 1 14 3 1 13 9 Gear Met Co. Grey and Menzies 1 6 2 0 6 0 10 0 0 9 0 Hamilton Theatres . 0 17 0 Hayward’s Pictures. 1 0 6 0 19 9 Henry Jones . . . . 1 17 0 Hill and Plummer .. 1 1 9 H.M. Arcade (pref) 1 0 6 Kempthorne Prosser 9 6 Milne and Choyce .. 1 4 6 Ditto (pref.) .. .. 1 4 6 Ditto (“B” pref.) 1 4 6 1 4 0 Morris Hedstrom .. 1 1 3 1 0 6 National Pictures . 0 13 6 N.Z. Farmers’ Fert. 4 8 0 4 2 6 N.Z. Paper Mills 0 17 6 N.Z. Refrigerating . 0 18 6 Ditto (con.) .. .. 0 9 2 0 8 11 1 3 0 1 2 3 Sanford Ltd. (pref) 1 0 3 0 19 10 Sharland and Co. .. — 0 19 6 Taranaki Oil .. 0 10 0 0 8 6 Thames Theatre 1 0 0 Union Oil 2 2 0 Whittome Stevenson 2 10 0 2 7 Wilsons Cement .. 1 18 6 1 18 3 MINING— Moanataiari (pd.) . 0 1 9 — Ditto (don.) .. .. 0 0 6 — Golden Age (pd.) .. 0 0 New Waiotahi (con.) 0 0 3 — (con.) 0 0 Ohinemuri (ord.) .. 0 7 6 0 7 Waihi 0 12 10 0 12 9 tion 0 1 5 0 1 2 Mount Lyell . • . • .. DEBENTURES— 1 15 0 1 14 3 64 P C 103 0 0 102 10 0 Auckland Harb. Board, 5 p.c —. 96 0 0 Ditto. 5J p.c., .. .. —. 99 10 0 Ditto. 6 p.c City of Auckland, — 102 0 0 1940, 55 P-C — 96 0 0 Ditto, 1943, 54 p.c. —. 99 10 0 Bor. of Devonport. 6 —• 100 0 0 Bor, Mt. Eden, 52.. 100 0 0 Ditto, 6 p.c 102 0 0 Bor. Hamilton, 6 . . 100 0 0 N.Z. Breweries 1 4 0 1 3 10 Glaxo — GOVERNMENT BONES War Loan, 1930, P-C 99 5 0 99 0 0 Ditto, 1938, 44 P-C. 99 2 6 99 0 0 Ditto, 1939, 45 p.c. 99 5 0 90 Ditto, 1933, 55 p.c. — 100 10 0 Ditto, 1936, 54 p.c. — 100 15 0 INSCRIBED STOCKWar Loan, 1938, 45'p.c 99 0 0 Ditto, 1939, 45 p.c. — 99 0 0 Ditto, 1933, 55 p.c. — 99 0 0 Ditto, 1936 54 P.c. 101 0 0 Ditto, 1938. 54 p.c. — 100 15 0