FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 463, 19 September 1928, Page 12

FINANCE & MARKETS

Bright Tone on ’Change

Waihis Firmer * • rIE tone of the market is bright and considerable attention is being paid to bank, insurance, and Waihi shares. The latter shares improved at the mid-day call to sales 13s, leaving a firm market. Summary, same as first issue.

"Bank scrip continues to attract investors and good business has taken place in Bank of New Zealand, leaving the market firm. Insurance shares are still eagerly sought after, with a rising market in New Zealand and Standard. Auckland Gas are selling at 23s Id, leaving the market unchanged. Shipping shares remain steady, with keen buyers for Huddart-Parker and Devonport Ferry. In mining, considerable business was transacted in Waihis at 12s lOd, leaving the market firm at that figure. Business at this morning’s early call.

- —On ’Change: Waihi Gold Mining i Company, 12s 10d: Mount Lyell Min- - ing and Railway. £1 15s 6d: Xew Zealand Inscribed Stock. 1933, 5 h per cent., £lOl. Reported: Westport Stocks ton (ord.), 3s 9d. 1 Business at this morning’s call.—On ’Change: Waihi Gold Mining Co., 12s lOd; Mount Lyell Mining and Railway, £1 15s 6d; X.Z. Inscribed Stock. 1933, 1 51 per cent.. £lOl. Reported: West--1 port-Stockton (ord.), 3s 9d. Business at to-day’s mid-day call.— s On ’Change: Waihi Gold Mining Co., -13 s. Reported: Bank of Xew Zealand. £3 Is 3d: X.Z. Loan and Mercantile (ord.), £lls.

TO-DAY’S QUOTATIONS

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

SOUTHERN EXCHANGES

YESTERDAY’S SALES Press Association Wellington.—National Insurance, 16s Gd; British Tobacco, 445. Christchurch.— Xew Zealand Government 5i per cent. Inscribed Stock (1933), UiOl 5s (three); Xew Zealand Breweries 1 bonds). 24s 3d; National Bank of Australasia (£5 paid). £9 12s (two); National Bank of New Zealand, £7 2s Cd: Bank of Xew South Wales. £sl 2s 6d; Union Bank of Australia, £ls 6s 6d; •South British Insurance, 62s md; Goldsbrouffh, Mort. 51s 4d. Dunedin.— Bank of Australasia, £l3s Is; Mount Lyell. 35s 6d.

DAIRYING INDUSTRY

COMPANY ACTIVITIES The chairman of directors of the Bay of Plenty Co-operative Dairy Association. I.td.. Mr. C. B. Luke, has issued the following monthly statement to suppliers: The amount of butter-fat received for August. 192*. was 115,3351 b. The increase for August is 40. SS per cent., and ror the season 39.2 per cent. The directors have fixed the progress payments for August at Is 6d a lb. first grade, and "'?-?ia m r ber at ls 6d alb superfine. About -..<>00 boxes of this year’s butter have been sold, at an average price of slightly better than ls sd. As most of this is f«»r delivery prior to the end of January representing half the output, suppliers are assured of good advances up to and including this month. The Pig Marketing Association is receiving the support •>f all the dairy factories in the Bay of Plenty, and they have appointed Mr. D. s. Ross, of Te Matai. as their representative on the board. They aim at building up the pig export trade, and ask all supppliers to support them. * * * The Hinuera Dairy Company has established another record by a 40 per cent, increase in the butter-fat handled in August, compared with the figures for August. 1927. Last month the company handled 65,6361 b. compared with 47.0141 b, and the pay-out aggregated £4.073. against £2.938 in August. 1927. Last month the rate was ls 5d a lb. * * * Following its numerous successes at dairy shows throughout the Dominion last season, the Rangitikei Dairy Company's factory is again in the limelight, having earned the highest honours in ..pen competition at the Wellington Winter Show yesterday. Rangitikei butter scored many points and took the highest award, the championship of New Zealand, for a box of export salted butter. The competition was open to all factories. In addition. Rangitikei took second place iri the class for the best box of butter suitable for export, open to all factories in Xew Zealand, and fourth place for a box of butter suitable for export made by huttermaker or factory manager’s first assistant.

EGGS FOR EXPORT

DIFFICULTY IN ARRANGING SPACE Difficulty has been experienced by the Auckland Egg Export Committee in securing shipping space for eggs. Advice has now been received that the lonic, leaving Auckland for London on October 8, will have space for 1,000 crates. With such short notice, however, it is considered that little more than 300 crates can be made available. One of the factors which complicates the securing of shipping space is the fact that eggs cannot be stored with butter as the temperature is too low, nor can they be placed with cheese, as they become tainted. LONDON METAL MARKETS (Australian and N.Z. Press Association) (United Service) LONDON. Monday. (Quotations on September 13 in parentheses.) Electrolytic Copper.—Spot, £7O 5s (£69); three months, £7O 15s (£69 10s). Wire Bars. —Spot, £7O 15s (£69 10s); three months, £7O 15s (£69 10s). I Copper.—Spot, £63 10s 7Jd (£62 16s 10Jd): three months, £64 ls IOJd (£63 Ss lid). Lead.—Spot, £22 (£22 2s 6d); three months, £2l 13s 9d (£2l 17s 6d). Spelter.—Spot, £24 10s (£24 11s 3d); three months, £24 7s 6cl (£24 15s). Tin. —Spot, £213 Ss 9d (£2ll ISs 9d); three months, £2ll 2s 6cl (£2lO 13s 9d). Silver.—Standard. 26 1-16 d (26-ld) per oz.: fine, 2S 1-Sd (28 5-8 d). LONDON STOCK EXCHANGE (Australian and N.Z. Press Association.) Reed. 10 a.m. LOXDOX, Tuesday. To-day’s quotations on the London Stock Exchange include tbe following.— Bank of Australasia, £ls: Bank of Xew South Wales (ex div.), £49: Union Bank of Australia. £ls Us 3d: National Bank of New Zealand, £7 6s 6d: Bank of New Zealand, £3; Loan and Mercantile. £llß. POTATO MARKET UNCHANGED Press Association. CHRISTCHURCH, Tuesday. Except in potatoes, the grain and produce markets are lifeless. Regarding potatoes, the position remains practically the same as at the week-end, with the qualification that owing to the difficulty of securing further supplies prices have firmed still more. To farmers from £5 to £5 5s has been paid. There are fair inquiries from Napier and Gisborne, in addition to those from Auckland. The Wingatui is expected to load potatoes at Lyttelton on Thursday, and the Waipiata on Monday. No movement is recorded in respect of wheat. The oats market is also stagnant. CHICAGO WHEAT MARKET (Australian and N.Z. Press Association) Reed. 9.28 a.m. CHICAGO, Tuesday. Wheat. —September, 1 dollar 9 1-8 cents a bushel ; December, 1 dollar 13 •7-8 cents: March, 1 dollar 181 cents: May, 1 dollar 21 cents.

Seller Blivets. £ S. d. £ s. d. BANKSBank of Australasia. 15 o o Ditto, new Issue 74 17 8 — • om. of Australia . 1 9 —, • -ns., Scot. & Aus. 8 11 * 0 National of N.Z. .. K 0 0 •Nat of Australasia i:« 0 Ditto (con.) .. .. ft 12 6 9 10 H -\eu South Wales . 50 15 0 New Zealand 3 1 6 3 ft ft 1»i 11«* ID mort.. -Os paid) 1 7 9 1 nlon of Australia . 15 0 15 *> INSURANCE— A.P.A 0 8 9 Now Zealand 4 H Queensland 4 South British .. .. 3 6 ft Standard — United — 11 ft 0 DOAN & AGENCY— Abraham Williams ipref.) .4 11 4 0 i . l iners* Co-op. 15 0 I *itto ( A pret.) .. 0 16 ft Ditto (B pref.) .. 0 15 0 »ioldsbrough. Mort . 11 ft 11 0 Nat. Mortgage .. .. l!) ft Ncwtori King (pref.) 7 ft N.Z. & River Plate . 1 11 :t N.Z. Guar. Corp. . 8 lft N.Z. Loan and Mer. 118 0 0 112 ft 0 Ditto tpref.) .. .. 82 0 0 N A in k. Farmers lord.) — 0 2 0 l.'OAL— llikurangi 0 6 2 ft 5 7 Ditto (pref.) .. .. 0 !> 9 0 8 9 1 l 0 Rt-nown 0 13 0 ft 1 1 6 L>itto *(pref.) .. .. 0 3 0 — Ta uplri 1 7 0 l 6 0 Ditto (pref.) 1 3 0 Waipa 0 14 0 \\ t stport-Stookton . 0 4 0 0 Ditto (pref.) .. .. — ft 4 ft GAS— Auckland 1 3 1 0 Ditto (con.) .. .. 0 17 4 ft 17 0 SHIPPING— Devonport Steam .. 1 5 ft 1 4 « Howard Smith .. .. 1 7 0 I luddart-Pnrker . . . 0 ft Northern Steam 0 14 8 ft 14 Ditto (con.) .. .. 0 ft 8 — r\ «.v O. (def. stk.) 245 0 0 ft 0 l nion Steam (pref.) — 1 ft 3 TIMBER— Bartholomew .. .. — 0 15 6 K. iri Timber .. .. 1 0 I.* yland-O’Brien 1 13 6 National 0 11 0 0 ft ft J‘arkor-Lamb — ft 17 ti WOOLLEN — Kaiapoi — 0 12 9 Ditto (con.) .. .. 0 10 Wellington .. .. .. — *i 10 ft Ditto (pref) .. .. — 6 11 0 B R E W ERIES— C. U. Innes 0 18 ft Ditto (pref.) .. .. —. 0 1ft ft N.Z. Breweries .. .. 2 13 6 — M 1SCTELI .A NEOUS— Aiick. Amuse. Park 0 5 ft Australian Glass 5 9 British Tobacco 4 0 3 9 Burns, Philp .. 2 5 9 —

Sellers Bu V Bycroft, Ltd 1 1.', 0 1 1 0 Checker Taxi .. .. Colonial Sugar 0 10 0 (Aus.) . . ..... . . 63 10 0 Dominion Pictures 1 9 Ditto (pref.) .. .. Donaghy’s Rope 1 9 1 11 0 1 12 0 Electrolytic Zinc (pref.) Farmers’ Trading 1 14 0 1 13 * (ord.) 0 7 6 Ditto, B (pref.) Cieat Meat Grey anJ Menzies.. Hayward's Pictures 1 0 6 Hill and Plummer .. 1 2 H.M. Arcade Ditto (pref.) .. .. 1 1 6 Kemp. Prosser LO Lewis Eady (ord.) . 1 5 0 Milne and CJioyce . — 1 4 • Ditto < nrer. > .. . . — Oil to (li nref.l .. 1 4 6 Ditto (deb. stk.) . 1 9 1 6 Morris. Kedstrom .. 1 1 9 Ditto (pref.) .. .. 0 IS National Pictures . 0 12 0 Farmers’ Fertiliser . N.Z. Refrigerating . — 0 3 9 7 Ditto (con.) . . . . 0 9 6 0 9 1 (rights) 0 0 Sanford. Ltd 1 0 0 Sharland (pref.) 1 0 0 Taranaki Oilfields . 0 S 9 0 S 0 Thames Theatre 0 IS 0 Tonson Garlick .. .. 0 12 6 XV hittome, Stevenson 9 W ilsons Cement 1 19 3 1 IS 9 MINING— Moanataiarl (paid) . ft 1 6 0 0 Ditto (con.) .. 0 0 6 Golden Age (paid) 0 0 Lucky Shot (Ispd.) 0 0 9 Maoriland (con.) Occidental-Una (2s 0 0 10 — paid) 0 1 0 Ditto (con.) 0 0 Ohinemuri (ord.) .. 0 s l> 0 7 Waihi 0 13 0 0 12 10 Waihi Grand June. . 0 1 Mount Lyell DEBENTURES— Auckland Gas, 1922, 1 36 0 1 15 0 5 p.c 93 0 0 Auck Harbour Board Ditto. 5J p.c.. 96 0 0 Ditto, 5i p.c. . . -— 100 0 0 Ditto, 6 per cent . City of Auckland, — 104 0 0 1940, 5* p.c., .. 96 0 0 Ditto. 1943, 5i p.c. 100 0 0 Auck. Fire Bd., 6 . 105 0 0 101 0 0 Ham. Fire Bd., 6 104 0 0 101 0 0 Bor. of Devon port, 0 101 0 0 Bor. Mt. Eden. 5i 3 00 0 0 Ditto, 6 p.c 102 0 0 Bor. of Hamilton, 6 102 0 0 X.Z. Breweries .. .. N.Z. Farmers' Co-op 1 4 3 1 4 2 of Canterbury, 3 933 — S7 0 0 Glaxo — 90 0 0 GOVERNMENT BONDS — War Loan, 1930, 4} 99 0 0 Ditto, 193S, 4i p.c. 99 0 Ditto, 1939. 4"l p.c. 99 5 0 Ditto, 1933, 5} p.c. 101 10 0 100 15 0 Ditto. 1936. 5i p.c. 101 10 0 101 0 0 INSCRIBED STOCK War Loan, 1933, 100 0 0 Ditto, 1933, 5} p.c. 100 10 0 Ditto, 1936, 5i p.c. 101 0