FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 418, 1 September 1928, Page 12

FINANCE & MARKETS

Waihis Weaker

N.S.W. Banks Firmer

rIE week closed on ’Change this morning with a healthy tone in the market for most of the better-class securities. One of the morning’s features was a further decline in Waihis.

Sellers of Commercial Banks dropped 3d to find buyers not attracted above 30s 6d. New South Wales are firmer, following the improvement in outside markets, the market closed this morning with sellers asking £SO 10s supported by buyers at £SO 2s 6d. New Zealand Insurances are active ©n a market very firm at 445. Steady trading is recorded in South British at 63s 6d, 3d better than the week’s opening market. In coals Renowns are receiving more attention, although there is still a wide margin between buyers and sellers' ideas of value. Buyers improved to 8s this morning. Westports are also receiving greater attention on a firmer market.

Colonial Sugars are very firm in sympathy with the higher levels outside and, with no sellers, buyers were in this morning at £6O ss. New Zealand Farmers’ Fertiliser show slightly increased strength, with no sellers, and buyers improved to 84s. Mining attracts greater attention and the market, generally, is dull and depressed. showing practically no activity. Business yesterday afternoon. —On ’Change: Waihi Mining, 12s 4d and 12s 3d. Reported: New Zealand Insurance, 445; Westport Coal. 30s 6d; Northern Steam (con.), 6s 9d; P. and O. deferred stock, £235; Auckland Harbour Board, 6 per cent., £lO4 15s. Business this morning.—Reported: Bank of New South Wales, £SO ss; New Zealand Insurance, 445; South British Insurance, 63s 6d.

TO-DAY’S QUOTATIONS

SOUTHERN EXCHANGES

YESTERDAY’S SALES Press Association. Wellington.—New Zealand Breweries, bonds. 2-is 3d (two parcels), 24s 2d (two parcels): Huddart-Parker (cum div.), 495; New Zealand Breweries, shares, 475. Christchurch.—Goldsbrough, Mort, 51s id: Christchurch Gas, 24s lOd (two parcels.*, New Zea’and Breweries, 47s 9d; Tooth's Brewery, 47s sd; Colonial Sugar, £6l 12s 6d: New Zealand Farmers’ Cooperative. 6a per cent, stock, 1930, £9O (two parcels): Mahaklpawa. 2s 2d, 2s Id (six parcels), 2s (21 parcels); Union Bank or Allsfa. £ls 5s fid: Dalsretv and Company, £ls Is Dunedin.—Bank of New Zealand. 61s 6d; New Zealand Breweries. 47s fid (two): New Zea’and Breweries, debentures, 24s 3d: Dalgety and Co.. £ls 2s; Mount Lvell. SSS.

WHEAT-GROWERS COMBINE SUCCESS OF SOUTHERN ASSN. Press Association. CHRISTCHURCH, Friday. The canvass in connection with the Cooperative Wheat Selling Association, as far as it has gone, is reported to be quite satisfactory. To date 240 growers, representing 15.000 acres, have signed up.

POTATOES OVER-SUPPLIED

POSITION IN CHRISTCHURCH Press Association. CHRISTCHURCH, Friday. The outstanding: feature of the grain and produce market since the previous report is the decided easing of the potato market. This is due to the large Quantities that have come forward from the country, with the result that there is, at least temporarily, an over-supply. The Wingatui during the week took a total of 10,000 sacks, and the JCurow was loading 6,000 sacks to-day at Timaru. At Lyttelton it is estimated there are between 7,000 and 8,000 sacks awaiting shipment. Of this quantity the Kartigi is to life what is shut out of the Kurow. Although prices are reported to be 5s less th<i.n lecent Quotations, some sales were eliected to-day at £4 15s. Over-sellers have come on the market, and Septem-ber-October delivery is quoted, and sales have been effected at £5 12s 6d f.o.b s i t0 rn, Septeillber and £5 10s for October.’ “ I here is a better demand for fowl wheat, and sales have been made at 5s bd f.0.b., s.i., for prompt delivery. There is also a better inquiry for milling wheat, and bs f.o.b. is obtainable for fair average quality, but the bulk of the milling wheat that is offering is slightly under grade and fetches anything from 4d to 5d a bushel less. KEEN DEMAND FOR HIDES WELLINGTON SALE (Prom Our Resident Reporter.) W KLI,I.\(,TO.\, Friday. The fortnightly sale of sheepskins and Hides was held to-day. and competition was keen throughout. Dry sheepskins eas/er in price by Id to lid. and salted skins sold on a par with last sale. Hides and calfskins were in keen demand at ruling rates. Tallow was firm, ihe range of prices was:— Dry Sheepskins.—Half bred, 15d to 161 d; fine crossbred, 141 dto 16-id; medium crossbred, 13d to 153 d; coarse crossbred, lid to ltd; half wools. lOd to 14d; quarter wools, lOd to 13Sd; pelts, 8d to llld. _ Salted Skins.—Pelts, 3s; quarter wools, os to 6s 6d; half wools, 7s 9d to 10s 6d‘ three-quarter wools. 10s lid to 12s 9d: full wools, 7s 6d to 13s lOd; extra large. 14 S Id to 15s 7d; lambs, 5s lOd to 9s 6d. Hides.—Ox. 451 b. to 521 b.. 9 7-8 d to 1° 5? Ib - }° 691 b- 10 5 dto lid; 601 b. to 691 b., llld to 11 5-8 d; 70]b. and over. t°. llSd. cow hides. 331 b. to ‘ 391 b„ lOd to 10id; 401 b. to 481 b., 9 3-Sd to lOid t-? b ‘ or„ and . ° ver - 9 3d to 101 d. E p L,?. slb ; 321 b" 10d to 12 5-Sd; 171 b. 1° t°_ 12 7 -Sd; yearlings. 111 b. toI 12 7-Sd. Calf, 91b. to 101 b.. llid; 61b. to Sib., 14Jd to 19d. Tallow.—in casks, 27s 6d to 31s 6d; in tins, etc., 20s to 30s Sundries.—Cow tails. ltd to 15Sd; horse hair, 10} cl to 21d.

Closing quotations at today’s mid Buyers Sellers £ d. £ d. BANKS— Axis. Bank of Com. 1 14 3 1 13 6 Com. of Australia .. 1 10 9 Ditto (pref.) .. .. 7 5 0 Com. of Sydney 26 15 0 Eng., Scot. & Aust. 8 13 6 8 11 Nat. of N.Z 7 5 0 7 0 0 New South Wales.. 50 10 0 50 2 6 New Zealand . . . . 3 1 9 3 1 0 Ditto, D mort (20s paid) 1 7 9 Union of Australia . 15 6 0 15 3 0 INSURANCE— A.P.A 0 9 0 National .. .. •• .. 0 16 8 0 16 5 New Zealand •• .. 2 4 6 2 3 6 South British . • .. 3 4 0 3 3 Queensland 3 4 6 3 S 0 United — 11 0 0 LOAN & AGENCY— Abraham & Williams (pref.) -— 4 5 0 Dalgety and Co. . . 15 2 6 Farmers’ Co-op Auctioneering (A pref.) 0 16 0 Ditto (B pref.) .. 0 16 0 0 15 0 Goldsbrough Mort . 2 11 6 2 11 0 Newton King (pref.) 0 8 0 0 6 9 N.Z. & River Plate 1 11 0 N.Z. Guar. Corp. (ord.) 0 9 0 0 S 9 N.Z. Loan & Merc. 110 0 0 Ditto (pref.) . . . . 82 0 0 N. Auck. Farmers’ Co-op. (ord.) 0 0 Ditto A (pref.) 0 32 0 Ditto B (pref.) .. 0 8 9 Farmers’ Trading Co 0 8 0 0 6 9 Ditto B (pref) .. — 0 9 0 COAL— Hikurangi 0 6 2 0 rj 10 Ditto (pref.) .. .. 0 9 6 Dito A (pref.) 0 9 3 0 8 6 Pukemiro Collieries . 9 0 Renown 0 12 0 0 9 0 Vaupiri 1 9 1 7 0 (pref.) .. .. 1 0 W'aipa 0 14 0 Westport 1 10 3 H extport-Stockton . 0 10 0 3 7 Ditto (pref.) .. .. — 0 4 0 GAS— Auckland . . 1 3 G 1 3 0 Ditto (con.) .. .. 0 17 6 0 16 10 SHIPPING— •onport Steam . 1 4 9 riddart-Parker 9 8 14 9 0 14 Ditto (con.) .. .. 0 7 0 . and O. (def. stk.) — 235 0 0 ■ -.ion Steam (pref.) — 1 0 .'l.’IBER— '•taoiomew .. 1 1 0 0 15 6 . 'd-O’Brkn 1 16 0 1 13 0 0 11 0 ner U.ub .. .. — 0 17 6 ‘ ■ • ’ >LLEN— T -C.!’».)! . . .. .. — 0 12 6 Ditto (con.) .. .. 0 4 0 10 0 6 8 0 Ditto (pref ) .. .. — 6 10 0 BREWERIES— C. L Innes .. .. — 0 IS 0 Ditto (pref.) .... 1 0 «» Staples Co 1 IS 6 —

Lay call were: — Seller «, MISCELLANEOUS— Auck. Amusement Park 0 5 6 British Tobacco 2 3 6 2 0 Burns, Philp .. .. 2 5 9 Bycroft, Ltd 1 lb 0 1 11 0 Checker Taxicab 0 10 0 Col. Sugar (Aus.) . 60 15 0 Dental and Medical 0 14 3 Dominion Pictures c Ditto (pref.) .. .. 1 1 6 Electrolytic Zinc (Old.) 1 13 9 1 13 0 Ditto (pref.) .. .. 1 14 3 Puller’s Pictures 1 0 6 0 19 6 Gear Meat 2 0 9 Grey and Menzies 0 9 0 Hayward’s Pictures 0 19 6 Henry Jones Co-op. 1 18 6 Hill and Plummer 1 2 0 H.M. Arcade .. .. 2 2 Ditto (pref.) .. .. 1 1 6 Lewkis Eady (pref.) 1 0 0 Milne and Choyce . 1 4 6 Ditto (pref.) .. .. 1 4 G Ditto (B pref.) .. 1 4 G Ditto (Deb. Stk) .. 1 4 0 National Pictures , 0 13 6 N.Z. Farmers’ Fert. 4 4 Morris, Hedstrom -. 1 1 6 1 0 Ditto (pref.) . . . . 0 18 9 N.Z. Refrigeratingcon.) 0 9 3 0 8 10 Sanford, Ltd 1 0 0 Ditto (nref.) .. .. 0 19 Thames Theatre .. 0 19 0 Tonson Garlick 0 12 9 0 11 9 1 nion Oil YVhittome Stevensons 2 10 0 Wilsons Cement 1 19 0 MINING— Moanataiari (paid) 0 1 8 Ditto (con.) .. .. 0 0 6 Golden Age (paid). 0 0 2 Maoriland (con.) . . 0 1 6 New Waiotahi (con.) 0 0 6 Occidental Una (2s paid) 0 1 0 Ditto (con.) .. .. 0 0 4 Ohinemuri (ord.) .. 0 8 0 0 7 9 Ditto (pref.) .. .. 0 8 9 Waihi 0 12 4 0 12 1 Waihi Grand June. 0 1 3 Broken Hill Prop. . 1 Mount Lyell .. .. 1 15 0 1 34 3 DEBENTURES— Auck Harbour Board 4 per cent 89 0 Ditto, £>£ p.c. .. . 90 0 0 Ditto, 5i p.c. .. . % 100 0 0 Ditto, 6 p.c 105 10 0 102 10 City of Auckland, 1940, 5* p.c 98 0 0 96 0 0 Ditto, 1943, 54 p.c. 100 0 Hamilton Fire Board, G P-o 104 0 0 Bor. of Devonport, 6 101 0 0 Bor. Mt. Eden, 52 100 0 Ditto, G p.c 102 Bor. of Hamilton, 6 102 0 0 N.Z. Breweries — 1 10 N.Z. Farmers’ Coop. of Canterbury, 1955 84 0 0 Glaxo — 90 0 0 GOVERNMENT BONDS War Loan. 1930. 4i Ditto, 1938, 4i p.c. — 99 0 0 Ditto, 1939, 4i p.c. Ditto, 1941, 4i p.c. 99 0 0 Ditto, 1933, 5.} p.c. 101 0 101 0 0 Ditto, 1936, 5i p.c. — 101 0 0 INSCRIBED STOCKWar Loan. 1938, 99 Ditto, 1939, 4i p.c. 99 0 Ditto, 1933, p.c. 101 10 0 101 0 Ditto, 1936, 5i p.c. — 101 0 0