FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 579, 4 February 1929, Page 12

FINANCE & MARKETS

Banks in Demand

Hikurangi Coal Depressed.

By “ Noou Call.” '* f&'&ff: A-feSB&fJG-H little business is being recorded a healthy 1 demand exists for gilt-edged investments. All bank shares remain high and in most cases have a firming tendency. Hikurangi coal shares are easing and are uusupwr..' ported; this is due to water trouble at the mine.

Insurance shares are very firm and In many cases are still firming. New Zealand and Queensland are keenly 'vj»«ched by investors, no shares offering. m m In the loan and agency, Abraham and Williams pref. shares are asked for at 85s. Dalgety have buyers at £ls 7s, but fail to attract any sellers. Goldsbrough, Mort, and River Place have many buyers, no shares offering. NftW Zealand Loan and Mercantile still continue to improve. Woollen shares are steady; buyers ere Quoting for all these shares, few sellers appearing. la the miscellaneous. Dominion Pictures. both ord. and pref.. have buyers an 219 k Donaghy’s Rope are sought

after at 3*s 6d. Gear Meat have steady buyers at 4 3s, shares unoffered. H.M. Arcade Theatre, ord and pref., have persistent buyers at 50s and 21s respectively, but fail to attract sellers. Milne and Choyce, both shares and debenture stock, are firm, sellers appearing for the debenture stock only. Union Oil are steady at about 41s. All Government and local body debentures are in demand, few sellers quoting Business at this morning's early call. —On ’Change: Reported, National Bank of Australasia (com), £9 12s 6d. Business at this morning’s early call. —On ’Change: Taranaki Oil Fields, 5s 9d. 5s 6d. Reported: Borough of Devonpor# 41 per cent., 1937, £93.

TO-DAY’S QUOTATIONS

HONEY PRODUCTION LOWER SEASON DELAYED A MONTH The prediction that the production of honey during the present season would be lower was made by Mr. P. A. Hillary, president of the Auckland branch of the National Beekeepers’ Association, at a demonstration an Wesley College. Paerata, on Saturday afternoon. Beekeepers attended largely, and a number of lectures were given by experts. In a review of the season's prospects, Mr. Hillary said that the weather in October and November had been very unfavourable, and had delayed the season by a month, which had altered the whole course of the usual run of operations. It was difficult to say what the final result would be, but the season would not be its successful as the last one. when 3.000 tons were produced. Production would probably be much lighter, but there was no doubt that the quality of the honey would be very high. Beekeepers were obtaining low returns. and, as an instance, Mr. Hillary said that some keepers in the Waikato with 1.000 hives had estimated their returns at 30 tons. Another keeper in Taranaki thought that he would obtain only 10 tons. The usual crop from this number of hives was 50 tons.

A.P.A. INSURANCE DIVIDEND (Australian and N.Z. Press Association) SYDNEY, Sunday. Following completion of the merger between the Life Insurance Company of Australia. Limited, with the Australian Provincial Assurance Association, Limited, the latter has issued a combined balance sheet for the year ended September 30 laer. Savings in the cost of administration have been effected, but there has been a decrease in new business and surrenders. The new business totalled ,£*sß,ooo, carrying a premium income of i.-20.0n0 Out of £103,000 at credit of the appropriation a« count, a dividend of five per rent, i* recommended, absorbing £16.000, while £43,000 is allocated to the reserve.

CLIPS FROM BIG STATIONS SECOND DUNEDIN WOOL SALE (Special to THE SUN) DUNEDIN, Sunday. A total of 27,269 bales of wool will be offered at the second Dunedin wool sale, which opens on Tuesday morning. The clips are largely from the big stations. WOOL DUTIES IN U.S.A. TARIFF DISPUTE THREATENED (Australian and N.Z. Press Association) NEW YORK, Saturday. The New York “World" states that another tariff dispute is threatened when the Ways and Means Committee of the House of Representatives begins its consideration of the wool schedule. There is a conflict of interest between the wool-growers and the manufacturers on the one hand, and the manufacturers ot- fine-grade worsteds and carded wools on the other hand. The present duty is equivalent to 25 per cent, on the finest grades and nearly 201) per cent, on the cheapest grades of clothing wools. It is highest on the grades of which the United States produces the least. There is a reason for this. Western woolgrowers know that if a virtual embargo is placed on the cheaper wools there will be a larger market for their own product. The worsted manufacturers know that this will also increase their business at the expense of the mills which handle carded wools. The manufacturers of carded wools seek the removal of the discrimination against them. They want Congress to substitute ad valorem rates for the present specific duties. Their programme has the endorsement of a number of Labour leaders. The feud between the woollen and the worsted industries is one of longstanding, and some lively sessions are promised when the spokesmen for the various interests appear before the committee.

SOUTHERN EXCHANGES SATURDAY’S SALES Press Association Wellington.—Bank of Australasia, £l4 ISs: Auckland Gas, 24s sd; Wellington Meat Export. 12s 6d; Leyland O'Brien, 345. Christchurch.—Australian Bank of Commerce (ex div.Y, 345: New Zealand Refrigerating (10s paid. cum. div.), 8s; Stockton Coal, 3s 6d; New Zealand Breweries, 5Ss (two): British Tobacco, 48s ( three): Staples’ Brewery, 44s (three): Beath and Company (rights), 7s 9d (two); Taranaki OH. 11s lid; Waihi, 14s 5d (four); National Mortgage, 90s. Christchurch.—On ’Change: Australian bank of Commerce, 34s (2 parcels); National Bank of Australasia (£5 paid), £9 12?; Christchurch Gas. 26s 4d; New Zealand Breweries, 57s lid (3 parcels); Taranaki Oil, 13s (2 parcels): Mahakipawa. Is Id. Reported: New Zealand Breweries ibonds), 265.

Oieautm ttwolatloo* at to-day a m d day t. ♦’ Sellers. Buyers. £ a. d. £ 9. 4. BANKS— Anb. of Commerce • • • * 1 1 4 * 1 13 9 Com. of Australia 1 1ft l 1 ft ft Ditto (rights) S 9 1 »itto (pref.) . . 9 Kng., Scot, and A us ft ft National of N.Z. 4 Xat. of Australasia 19 0 0 Ditto (con.) 13 9 LI New South Wales . 51 15 o 51 7 ,\>w Zealand 2 Ditto, D. Mort. 1 Union of Australia . 15 7 6 15 6 0 INSURANCE — ft ft New Zealand .. .. 2 3 Queensland — 3 6 0 South British . . . . 5 LOAN AND AGENC1— Abraham and Williams (pref.) . . .. — 4 0 Dalgety and Co. Farmers’ Co-op. — 15 7 0 Auc ft ft 2 15 0 Ditto B ( pref. ) 16 0 doldsbrough, Mort It 6 Newton King (pref > 0 8 3 XZ <fc River Plate l 12 0 N.Z. Lqan and Merc. 130 ft 0 123 ft 0 Ditto (pref.) . . . . "N. Auck. Farmers' — SI 0 0 Co-op. B (pref.) . 0 7 0 Wright, Stephenson , — 1 3 6 COAL. — Hlkiirnngi 0 # Ditto (pref.) .. .. 0 10 6 Ditto A (pref.) 8 ft Fukemiro 3 9 0 3 6 ft Renown 0 IX 0 0 17 6 Ditto (pref.) .. .. 0 2 11 ft 2 10 Taupiri 1 5 9 l 5 3 Ditto (pref.) . .. 1 3 0 TV aipa. ft 13 0 Westport 1 JO 1 Westport Stockton GAS— ft 3 6 0 3 A uckla nd . . . . . . .. 1 4 6 1 4 5 Ditto (con.) .. .. 0 47 10 Gisborne 0 9 0 Thames 0 10 0 — SH1PPINGPevonport Steam . . 1 4 6 1 4 0 Howard Smith l 9 Huttdart-Parker 2 8 6 2 8 Ditto (pref.) .. .. 1 0 6 Northern Steam 0 1 4 4 13 Ditto (con.) .. .. 0 7 ft P and O. (def. stk.) 3 2 Union Steam (pref.) 1 1 0 1 0 4 TIMBER— Kauri Timber .. ft 18 9 0 17 3 L,eyland- O’Brien 1 14 10 6 6 3 WOOLLEN— Kaiapoi — ft 13 9 Ditto (con. t .. .. — 0 4 0 Ditto (pref.) .. .. 0 16 9 ft 15 9 Nlosgiel 7 5 0 Wellington .. + 7 7 6 7 Ditto (pref.) .. A — 7 3 6 BREWERIES— C. 1.. Tnnes (pref. > . 1 ft ft N.Z. Breweries IX o 17 J. Staples 2 4 6 —

cali were:— Sel Ier« Buyers. MISCELLANEOUSAuck. Amuse. Park n 4 0 — Ditto (pref.) .. 0 IX fi — A. .T. Entrican (pref) British Tobacco X X 1 11 0 Checker Taxicab . . . 0 9 0 Colonial Sugar 61 0 59 Dominion Pictures . 1 Ditto (pref.) . . . . 1 Donaghy’s Rope 1 Electrolytic Zinc (pref.) 1 17 6 1 16 Farmers' Trading . . 0 X 9 0 8 0 Ditto A (pref) 0 17 0 Ditto B (pref.) 10 Fuller’s Pictures 1 1 0 1 Gear Meat Grey and Menzies . . 0 10 Hayward’s Pictures 1 Henry Jones Co-op. 1 19 H.M. Arcade Theatre Ditto (pref.) .. .. 1 1 0 Holden’s Motors 1 J^ewis Eady (pref.) . 0 19 Milne and Choyce . . Ditto (pref.) .. .. Ditto B (pref.) . . Ditto (deb. Stock) 1 Morris, Hedstrom . . 1 4 0 N.Z. Farmers’ Fer. 1 0 N.Z. Refrigerating (con.) Robinson Ice Cream Perdriau Rubber Sanford, Ltd 1 0 0 17 Ditto (pref.) .. .. 0 19 0 Taranaki Oilfields . 0 6 6 Union Oil 0 0 0 Whittome Stevenson 2 4 6 2 Wilsons Cement 2 1 9 2 1 0 MINING — Luckv Shot (4s pd. > 0 2 0 0 0 9 Ditto (con.) .. .. 0 0 0 0 0 Maoriland (con.) .. 0 0 6 Ohinemuri (ord.) .. 0 8 9 Waihi 0 1 4 X Mount Lyell Kuala Kampar Tin . 0 15 6 0 15 1 DEBENTURESAuckland Gas, 1932, 5 per cent 94 0 0 Ditto, 1935, 65 p.c. 103 0 0 Auck. Har. Board, 55 99 10 0 103 0 0 City of Auckland, 1940, ok p.c 97 0 0 99 10 0 Bor. of Devon port. 6 P.C. 102 10 0 Ditto, 45 p.c. 91 10 0 101 10 0 Ditto, 6 p.C Ditto. 55 pc. Bor. Hamilton, 6 N.Z. Breweries 1 11 1 6 0 1 11 Glaxo •• .. .. .. — 89 0 0 GOVERNMENT BONDS — War Loan, 1938, 45 100 0 0 99 JO 0 Ditto, 1939, 45 100 o 0 99 10 0 Ditto, 1941, 45 .. 99 0 0 Ditto 1936. 55 ,. — 101 10 0 INSCRIBED STOCK War Loan, 1938. 45 . 99 10 0 Ditto, 1939, 45 . . 99 10 0 Ditto, 1927-41, 99 15 0 99 0 0 Ditto, 1933, 55 101 3 0 0 101 0 0 Ditto, 1936, 55 . . 101 12 6 101 10 0