FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 494, 25 October 1928, Page 14

FINANCE & MARKETS

Decline in Renowns

South British Firmer

A SHARP decline in Kenowns has been the feature of business on the Auckland ’Change over the past 21 hours. The market, generally, is in good tone.

The banking group is very steady, .With firm buyers in for most shares. Insurances are quiet; but sellers are hard to locate. Sellers of South British came in at mid-day at 64s to find improved suppqrt at 63s 3d. The annual meeting of the company held this morning disclosed nothing new, the chairman’s speech being little more than a reiteration of the already wellworn statement that the company is not making much on its underwriting business in New Zealand, but picks up the greater part of its profit overseas. No figures were given to indicate the progress, or otherwise, of the trust department, although it was stated that the business was extending satisfactorily. In the coal group, as already indicated, Renowns have slumped from the 17s 6d high level earlier in the week to see buyers’ offers reduced to 15s 6d at mid-day following a series

of sales put through on a falling market over the past 24 hours. The selling appears to be coming from the one quarter. Buyers of Waipas made their appearance this morning at 12s 6d after a long absence to find sellers reduced to 13s 6d. Taranaki Oils are weaker, with sellers at 7s 6d supported by buyers at 7s. A Press Association message elsewhere announces the inability of the company to cope with the trouble at the No. 1 well at the present juncture. Business yesterday afternoon; Commercial Bank of Australia, 30s 2d; Renown Collieries (ord.), 17s and 16s 9d; Auckland Gas (con.), 17s; Northern Steam (con.), 6s 9d. Business at this morning’s early call: Renown Collieries, 16s 3d. Reported: N.Z. Breweries (deb.). 24s sd. Business at mid-day; Reported, Auckland Gas, 23s Id.

TO-DAY’S QUOTATIONS

Closing quotations at fco-day'e mid day call were:

SOUTHERN EXCHANGES

YESTERDAY’S SALES «- Press Association Wellington. —Kauri Timber, 18s o*l. Christchurch. —New Zealand Government, 5i per cent. Inscribed Stock <IS3S), £lOl ss; English, Scottish and Australian Bank, £8 17s; New Zealand Refrigerating (10s paid), 8s 9d; Carlton Brewery, 48s 3d; Staples Brewery, 40s (two); British Tobacco, 44s Id (three); Electrolytic Zinc (pref.), 345; Victoria Nyanza Sugar, 43s 6d, 43s 3d; Mahakipawa. Is 6d, Is sd, Is 4d; Bank of Austialasia, £l4 355; National Insurance, 16s 4d; New Zealand Insurance, 45s 6d. Dunedin: Westport-Stock ton (ord.), 3s sd: Bank of New' Zealand, 61s 6d; Union Bank, £ls 7s; National Insurance, 16s 3d; New Zealand Drugs, 70s; Kaiapoi Woollen (ord.), 13s 3d. LONDON MARKETS WHEAT CARGOES QUIET fUnited P.A. — By Telegraph — Copyright) LONDON, Wednesday. Wheat cargoes are quiet and occasionally easier. Parcels are in small request at an- occasional decline of threepence. Liverpool futures: October, 9s 21& per cental; December, 9s 2£d; March, 9s 2d; May, 9s 2d. LONDON STOCK EXCHANGE The following were quoted to-day on the London Stock Exchange: Dalgety and Co., shares £45 ss, 4 per cent, debentures £75 ss, ex div.; Goldsbrough, Mort, 5 per cent. B debentures, £BS. PRICE OF GOLD Gold is quoted in London to-day at 51s Hid an ounce. WOOL SALES IN SYDNEY 12,240 BALES SOLD Australian and A'.Z. Press Association) SYDNEY, Wednesday. At the Sydney wool sales to-day lines showing quality sold to the vendors’ advantage. Broader libred fleece was unchanged. There was good general competition, and a strong demand for skirtings for the Continent. Comebacks and crossbreds were keenly sought. Greasy merino sold to The day s sales totalled 12,240 bales. CHICAGO WHEAT (United P.A.—By Telegraph — Copyright) ( Australian and K.Z. Press Association) Reed- 9-40 am. CHICAGO, Wednesday. Wheat —December 1 dollar 32 7-8 cents a bushel: March, 3 dollar 38 cents; May, 1 dollar 202 cents.

DISTRICT ° STOCK SALES

fc>tock auctioneering firms report on sales held throughout the district during the past week as follow: The New Zealand Loan and Mercantile Agency Company, Ltd., reports:—Sales were held during the past week at Westheld, Papakura, and Waiuku, with good yardings at each centre. There is a keen demand for all classes of cattle. We report most successful sales, especially the one held at Papakura, where values realised were easily the highest this year. We also held a clearing sale on Tuesday, on account of Mr. A. M. Paton, Clevedon, disposing of his registered pedigree Ayrshire herd. We report a most satisfactory sale. Registered pedigree cows made to 25 guineas; registered pedigree springing heifers to 18 guineas; yearling heifers to 10i guineas; heifer calves to 6i guineas. Quotations for other classes of stock are:—Dairy cows and heifers, best £ll to £l6 10s, others £8 to £lO 15s; aged cows and inferior heifers, £4 to £7 15s; bulls, 5 guineas to 25 guineas, according to age, breed and quality; store and boner-cows, £4 to £6 15s; yearling to IS-months heifers, best £5 5s to £7 10s, others £3 to £5; yearling to 18-months steers, £4 to £6 ss; two to 2i-year steers, £6 10s to £7 12s 6d; three to 35-year steers, £7 15s to £8 15s; four to 4J-year steers, £9 to £lO 15s; grown steers in forward condition, £ll to £l2 10s.

Alfred Buckland and Sons, Ltd., report:—During the week we held sales at Westfield, Pukekohe, twice, and a cleaning sale at Helensville. All classes of cattle and sheep continue to be in strong demand, recent advanced rates being well maintained. Best dairy cows recently calved, or at profit, made £l3 to £lB 10s; second grade dairy cows, £S to £l2 10s; aged and inferior cows. £4 to £7 15s; best springing heifers, £lO 10s to £ls 15s; other springing heifers, £6 10s to £9 15s; w’ell-bred yearling to 18-months-old dairy heifers, £6 to £8 ss; smaller well-bred heifers, £4 15s to £5 15s; other yearling heifers, £3 10s to £4 12s 6d; empty young cows and heifers, £5 5s to £7; store and boner cows. £2 10s to £5 10s; cows with calves, £7 to £los ss; heavy prime young cows and heifers, £9 10s to £l2 ss; lighter fat cows and heifers, £6 to £9 ss; fat steers, £l2 to £l6 ss; grown steers, in forward condition, £lO 10s to £ll ss, according to condition; three to four-year-old sters. £7 to £8 2s 6d: two to three-year-uld steers, £5 15s to £7; yearling to IS-month-old steers, £4 10s to £5 14s; sound young herd bulls, £8 Ss to £ls 15s: heavy bulls. £S 10s to £J2; older bulls. £4 to £7 10s. The high-grade yearling Jersey heifers advertised on account of Messrs. Roulston Brothers, Pukekohe, sold at £8 5s to £lO 7s 6d-

Sellers. Buyers. BANKS— d. £ s. d. Australian Bank of Commerce 1 14 0 1 13 0 Bank of Adelaide . 3 0 6 0 9 17 6 Bank of Australasia 14 18 0 Com. Bank of Aus. 1 30 3 1 10 » Ditto (pref.) .. .. V 10 0 7 6 0 Nat. Bank of N.Z. . 7 4 .6 7 2 0 Nat. of A’sia (eon.) 9 11 6 New South Wales . . 51 10 ftl 0 0 New Zealand . . . . 1 6 1 0 Ditto, D Mort.. 20s paid _ 1 7 6 Queensland National 9 2 ft Union of Australia . — 15 6 0 INSURANCE — Australian Provincial 0 7 , National 0 16 4 0 16 3 New Zealand .. .. 9 2 5 6 Queensland 3 b 0 South British . . . . 3 4 0 3 3 3 United — 11 7 0 LOAN AND AGENCYFarmers’ Co-op. 3 10 0 3 0 0 Ditto (A pref.) 0 16 3 Ditto (B pref.) .. 0 lb 3 Goldsbrough Mort . 2 11 6 2 10 9 National Mortgage. 4 b 0 Newton King (pref.) 0 7 2 N.Z. Guar. Corp. . . 0 8 6 N-Z- River Plate .. •1 12 0 N.Z. Loan and Merc. 116 0 0 Ditto (pref.) . . . . X- Auckland Farmers — 82 0 0 Co-op. (ord.).. .. — 0 2 0 COAL— Uikurangi .. .. M 0 6 0 0 5 6 Ditto (pref.) .. 0 10 9 Ditto (A pref.) .. 0 9 0 Pukemiro . . .. ** 3 D 0 3 8 0 Renown (ord.> 0 16 0 0 1b 6 Ditto (pref.) 0 0 Taupiri .« M 1 7 0 1 6 9 Waipa .. •• mm 0 13 6 0 12 3 W estport 1 10 9 Westport Stockton . 0 3 8 0 5 Ditto (pref.) .« — 0 4 0 (GAS— Auckland .. .. 1 3 2 1 3 0 Ditto (con.) .««. 0 17 3 0 16 10 SHIPPING— Devonoort Steam .. 1 ft 0 ' I 6 Howara Smith .. .. l ft 9 iluddart-Parker 2 8 7 Ditto (pref.) .. .. 1 9 Northern Steam . . 0 14 Ditto (con.) .. .. 0 7 0 0 6 7 V & O. (def. stck) 12 6 Union Steam (pref.) TIMBER— 1 0 6 Bartholomew M »» 1 1 0 — Kauri Timber .. 1 0 0 — Leyland-O’Brien 1 16 0 1 14 0 National .. WOOLLEN— 0 10 9 " Kaiapoi .. «. ** ** 0 13 9 0 13 0 Ditto (con.) w .. 0 3 9 Ditto (pref.) «• «. 0 16 0 Mosgiel .. .. — *. 3 "Wellington 15 Ditto (pref.) .. -» — 6 16 BREWERIES— C. L. Innes (pref.) 1 0 6 N.Z. Breweries . 2 15 3 2 14 0 MISCELLANEOUS— Auck. Amuse. Park 0 t 6 Australian Glass — 2 b 6

Sellers Buyer Brit. Tobacco .. .. ;> 4 6 2 Bycroft, Limited .. 1 15 0 Checker Taxicab 0 9 Dominion Pictures . Ditto (pref.) .. .. Donaghy’s Rope .. Dominion Rubber Electrolytic Zinc (pref.) 1 14 1 13 6 Farmers’ Trad, (ord) 0 8 6 0 7 Ditto B (pref.) .. 0 9 Gear Meat Grey and Menzies . Hamilton Theatres 1 1 Hayward’s Pictures 1 1 3 1 0 6 Hill and Plummer . H.M. Arcade .. 2 Ditto (pref.) .. .. i 1 0 Kempthorne-Prosser 11 ft 9 0 Lewis Eady (pref.) 0 19 6 Milne and Choyce Ditto (pref.) .. .. l 4 Ditto (B pref.) i 4 6 Ditto (deb # stek.) l 4 3 Morris Hedstrom (pref.) 0 18 0 N.Z. Express . . 0 18 0 N.Z. Farmers’ Fert. . 0 17 0 Robinson Ice Cream 1 3 0 Ditto (new issue) 1 0 Sanford. Ltd 0 17 ft Sharland (pref.) 1 0 3 Taranaki Oil . . 0 7 6 0 7 0 Thames Theatre .. 0 15 0 0 10 0 Tonson Garlick 0 12 6 0 11 0 Union Oil 2 2 6 Victoria Nyanza 2 0 Wilsons Cement .. 2 0 0 1 19 3 MINING— Moanataiari (pd.) • 0 1 3 Lucky Shot (4s paid) . . .. .. .. 0 0 Maoriland (con.) 0 0 8 Ohinemuri .. .. _ 0 7 3 0 Waihi 0 14 2 0 14 Waihi G. June. 0 0 11 Broken Hill South , 2 12 0 2 Mount By ell 1 ft Broken Hill North.. 5 5 0 2 0 DEBENTURES— Auckland Gas, 1935, 102 10 0 Auck. Harb. Bd. 5i Ditto, 6 103 Auck. Power Board Auck. Fire Bd., 6 .. 105 o Hamilton Fire Bd 6 104 0 Bor. Devonport, 6 101 0 0 Bor. Mt. Eden. BJ Ditto, 6 102 Hamilton, 6 p.c. Buller County, 1940, 5 p.c 93 0 0 Wright, Stephenson 87 0 0 78 0 0 N.Z. Breweries .. .. Nat. Trading, 6 100 0 0 Glaxo — 90 0 0 GOVERNMENT BONDS War Loan, 1930, 42 Ditto, 1938, 42 98 17 6 Ditto, 1939, 42 98 Ditto, 1941, 42 .. 98 15 Ditto, 1936, 52 .. 101 0 0 Ditto, 1933, 62'.. 101 10 0 101 2 6 INSCRIBED STOCK War Loan, 1S3S, 99 7 6 98 17 6 Ditto, 1939, 42 .. 99 5 0 Ditto, 1933, 52 Ditto, 1936, 5J .. — 101 0 0