Heavy Trading

Sun (Auckland), Volume II, Issue 583, 8 February 1929, Page 12

Heavy Trading

Waihi Market Easier

By

“Noon Call.”

AX exceptionally heavy turnover was registered on ‘Change this morning. The market for all tested securities continues very firm with an increasing section interested in the more speculative investments.

Fluctuations Movements since last reported sale j Ta ra.na.ki OiLs, fall of 6d. Wilsons Cement, fall of 9d. British Tobacco, fall of 3d. Waihi Mining, fall of 4d. Abraham and Williams, fall of is tid. Bank of N.S.W., rise of 2s bd. Bank of New Zealand (mort. issue).! rise of 6d. m 9 The market tor all the more or j si lt-edge securities is very firm. Bank f N.B.W. moved this morning up 2s 6d to sec business at £sl 15s. Recent igh levels in the insurance group are well sustained, with the general trend of the market upward In the loan and agency group buyers «.f DaJgety*s advanced 6d above last •• eek’s market price without attracting Hess. Buyers of New Zealand Loans moved £1 to the latest buying price. \ but holders are steady at £l3O. mm* Oils are quieter, following a day nf heavy trading in the South yesterday on a falling market. Blenheims Touched £6 10s In Wellington and Sydney, the market easing toward the • lose, however, to see business at £5 in Christchurch. At the early call on the Auckland ’Change this morning sellers at £6 5s attracted buyers at CT., but the later quote was withdrawn at mid-day. Sales were made in Christchurch during the morning at £ 6. however. After touching the 7s lOd yesterday. Taranaki Oils dropped to 6s 9d. A further easing took place .it mid-day, when the scrip changed hands at 6s 6d. m m m Considerably more interest is being

taken in tlxe mining** group, buyers ( coming in for scrip in several of the ; smaller develpoment concerns. A ' fairly heavy turnover has been regis- j tered in Waihis during the past 24 s hours. The market has an easier I tendency, sales being made at 14s 3d compared with 14s 7d at the close of last week. Kuala Kampar Tins are very firm with every tendency upward. Government and local body debentures continue to attract considerable attention, with business spread over a wide range. 4i per cent. Government bonds on the present market go to buyers, when brokerage and other expenses are considered, at over par. These issues, of cuorse. are free from taxation, thus the comparatively high price. Business yesterday afternoon: British Tobacc« # 30s; Abraham and Williams. Ltd. (pref.), 88s 6d: Northern Steam, 14s Id; N.Z. War Loan, 1936. oh per cent., £lOl 12s 6d. Business at this morning's early call —On ’Change: .British Tobacco, £2 9s 9d (two parcels); Waihi Mining, 14s 3d (six parcels). Reported: National Bank of New Zealand. £7 4s 6d. Business at mid-day:—On 'Change: Bank of New Zealand, 02s 9d (three parcels); ditto (mort. issue), 28s lid; Renown Collieries (pref.), 2s lOd; Wilsons Cement. 41s (three parcels).; Taranaki Oils, 6s 6d. Reported: Wellington Harbour Board, 1940, 5i per cent., £IOO 10s: War Loan, 1935, 4i per cent., £99 17s 6d; New Zealand inscribed stock. 1938. 41 per cent., £99 15s; Taupifi Coal, 25s 9d; Bank of New South Wales, £sl 15s; Renown Collieries, 18s.

TO-DAY’S QUOTATIONS

AUSTRALIAN PRODUCE (Australian and N.Z, Press Association) SYDNEY, Thursday. The following are to-day’s quotations on the Sydney produce market:— Wheat.—At country stations, 4s Id; ex trucks Sydney, 4s Sd. Flour. £ll. Pollard and Bran. — £7. Potatoes.—Tasmanian, £22 a ton; Victorian, £2O. Onions.— £S to £lO. Oats.—Algerian or white. 4s 6d. Maize.—(Store) 6s a bushel Adelaide prices are:— Wheat.—Growers’ lots, 4s 7d Bran.— £6 ss. Pollard.—£6 12s 6d. Oats.—2s 6d to 2s Sd. HIDES SALES AT MELBOURNE At the Melbourne hides sales to-day the market was irregular. Prices generally declined from par to one farthing

WAIKATO RAM FAIR KEEN COMPETITION HAMILTON', Thursday. A successful ram fair was held at ' 'laudelands to-day, when the combined auctioneers disposed of a splendid selection of flock rams to a large bench of buyers The figures realised were very satisfactory to the vendor's. The highest price was 21 guineas, realised for a southdown ram offered by P. McNaughto i. of Morrinsville. Forty shearling Srcithdown flock rams offered by r>. -M unroe (Palmerston North) averaged Ll 4 2s, and another line of Southdown rains offered on behalf of the Ruakura Farm was sold to L. H. Larner, of MorHnsville, for 16gns. The average price for Southdowns was l(Ugns. Border Leicesters sold up to 12Jgns, while English Leicesters realised up to A line of two-tooth Southdown ewes, b at Ruakura. made 63gns and 71gns.

CHICAGO WHEAT A •> tralui /, and .VZ. Press Association> ! 'V T* 1 m. CHICAGO. Thursday. -Mar.-h, I dollar S 3 T-S cents a ■k. •Inllat *JI cents; July. J dollar is cent*.

FRUIT FOR EXPORT NELSON ORCHARDS BUSY Press Association NELSON, Thursday. Fruit export operations are now about to be begun. Picking has been proceeding since Monday, and there is every promise that the crops will be as clean as they have ever been. Present indications are the quantities available for export will not be far short of last year's record shipments. COMPANY REGISTRATIONS Four private companies and one public company have been registered in Auckland this week. Details are:— Public Waiomo Sulphide Corporation. Limited, to purchase the mining rights and licences known as the Zeehan Mines. Capital, £50,000, divided into 200,000 shares of ss, of which 50,000 are to be held m reserve. Subscribers: C. G. White, solicitor, Wellington; R. S. Thompson, company director, Auckland; C. Adams, company director. Auckland; E. E. Banks, mine superintendent. Waihi; A. L. Foster, licensed surveyor, Auckland; F. TI. Claxton, manufacturer, Thames; •J- W\ McCoy, mining engineer, Auckland; J. M. Wilson, gentleman, Auckland ; one share each. Private New Zealand Lead Works, Limited, manufacturers of sheet lead and leaden articles. Capital, £IO,OOO, in £l shares Subscribers: W. R. Swales, 3,333 shares; Jessie A. Swales, 3,334 shares; A. V. Swales, 3,333 shares. The Natural Fruit Drinks Company, Limited, sellers of fruit drinks. Capital. £I,OOO in £1 shares. Subscribers: J. E. Ellis, 450 shares; H. T. Hunter, 380; B. R. Blade, 125; J. M. McLearv, 35; W. E. B. Dunningham. 10. hitney Windows, Limited, ioinerv merchants. Capital, £IOO, divided into £1 shares. Subscribers: W. H. Ross 95 shares; E. L. Thwaites. 5. Muriwai Motor Racing Club, Limited, motor sports promoters. Capital, £IOO, divided into £4 shares. Subscribers: J. C. Kay G. Campbell, A. J. Rovcroft. E. J. Hamlet, N. Ballantyne, G. Howard, U. C. Hard ley, A. Donald. A. L. Hammond. H. C. Curlett, J. G. Brook. A. Davie, R. Talbot, P. Free. A. T. Bell. A Constantine, R. D. Wright. A. Todd. C. W. F Hamilton. E. X. Valentine, W. b. M6nds. R. B. Wilson, A. J. Brown, C. J. MacCulloch, A. C. Jacob; each one share.

TRADE IN PRODUCE

POTATO PRICES UNCHANGED SMALL PARCELS FOR SLA A Any movement in grain seed and produce circles over the week has been downward. Prices, generally, however, have been stationary, with healthy trading in most departments. The position in regard to potatoes shows little change. Good quality tubers can still be bought in wholesale lots f.0.r., Pukekohe, for £5 15s to £6 a ton. Through store Auckland, best grades are going out fairly freely at from Ss to 9s a cwt. Although not sc noticeable now, considerable trouble has been experienced with blight and rust. A fairly substantial portion of the lines sent into Auckland have been affected that way, and as a result had to be sacrificed for what they would bring. Approximately 1,000 sacks were shut out of the Torua on her last trip to Suva for that reason. Efforts are being made to get a few lines away to the Islands on the Niagara next week. The autumn crop is now being dug, and there is every prospect of a good yield.

Onions for Overseas The quality of the onions coming on to the Auckland market at the moment is excellent. Pukekohe quotations are firm at £7 a ton f.o.r. Through store Auckland the price ranges round 9s 6d a cwt. A few parcels will go forward to America on the Niagara next week, although it is not expected that the export trade this season will reach the dimensions of last on account of the increase in tariff, which amounts to nearly 30s a ton. Maize Market Quiet Despite the fact that there is a very healthy retail demand for maize, there is little kick in the wholesale market. Merchants appear to be mostly buying from hand to mouth, and not paying much attention to sellers’ prophesies of shortening stocks and the possibility of higher prices. A month ago Gisborne merchants were offering forward at 5s 4d and did a fair business in small parcels. To-day it can still be bought at 5s 3d f.0.b.. 'without any indication of an immediate improvement in the market from the sellers’ point of view. Through store Auckland, merchants ask 6s 6d a bushel. Wheat Offering Freely "Wheat* is offering very freely from the South, with prices a shade easier than last week. Auckland quotations are unchanged at around 7s Sd a bushel. What the future will bring in regard to wheat it is hard to say. In some quarters it is thought the prices may ease a little more in accordance with the trend of the last two years. The market for 3 927 and 3 928 opened somewhere around 5s 9d and dropped to about 5s 3d and 5s sld respectively before recovering. This season, with a reported fairly substantial carryover, holders in the South are still asking 5s 7d a bushel. Only a nominal business is being done in oats on a rather weak market. Auckland quotations are unchanged at 4s 8d for B Cartons and 4s lld for A’s. Chaff is still rather short on the spot, and quotations are very firm at £9 3.0 s through store, Auckland. The usual heavy rush of business in fertilisers for autumn top-dressing has set in, superphosphate, basic super, slag and North African phosphate going out in large quantities

SOUTHERN EXCHANGES YESTERDAY’S SALES • Press Association Wellington. —Commercial Bank, 30s 3d; -National Bank of New Zealand, £7 ss; Auckland Gas, 23s lOd; Gear Meat, 43s 9d; Anthony Hordern, 24s lid; Blenheim Oil, £6 IDs (four parcels), £6 7s 6d (four parcels), £5 15s (three parcels), £5 30s (two parcels), £5 os (one parcel;, £5 (one parcel). * Christchurch. —National Bank of Australasia (£lO paid), £l9 6s 6d; National Insurance, 16s 2d; Goldsbrough, Mort, 53s 6d; Abraham and Williams (pref.), S9s; New Zealand Guarantee Corporation, Ss 7d; Taranaki Oil, 7s lOd, 7s 7d (two), 7s 6d, 7s 3d; Blenheim Oil, £6 (ten), £5 ISs (two); Mahakipawa, Is 4d (two); Whitcombe and Tombs. 81s 6d; Kuala Kampar Tin (cum div.), 15s 9d. Dunedin. —New Zealand Breweries (debentures), 26s 3d; (two); Smith and Smith (pref.), ISs 9d; Blenheim Oil, £5 10s. £5 15s; New Zealand Government, 41 per cent, bonds (1935), £99 15s.

BUTTER AND CHEESE MARKET SLIGHTLY EASIER (Australian and N.Z. Press Association) Reed. 9.5 a.in. LONDON, Thursday. Danish butter is firmer, selling at from 195 s to 1965. Others are slightly easier. Choicest salted New Zealand, is bringing ISI to 182 s, Australian 180 s to lS2s. Unsalteds: New Zealand 182 s to 186 s, Australian ISOs to 184 s. The cheese market is quiet, with an easier tendency. New Zealand, white 91s, coloured 945; Australian, white 90s, coloured 935. Messrs. Joseph Nathan and Company, Ltd., have received the following cable from their London house, Messrs. Trengrouse and Nathan, Ltd., Tooley Street: Butter, 180 s to 182 s. Merchants report receipt, of overseas cables as follow: Nor den and Co., from their London principals, Andrew Clement and Sons, under date February 7:—“Butter, salted. ISOs to 182 s: market dull. Cheese, white, 90s; coloured, 935.: market quiet.” DOMINION GRADINGS INCREASE FOR HALF YEAR Press Association WELLINGTON, To-day. The dairy division grading figures for the six months ending January. 1929. show an increase for butler of 7.6 per cent, at 55,835 tons, and for cheese, an increase of 13.1 per cent, at 52,715 tons. As compared with tlie corresponding period of the preceding season, reduced to terms of butter-fat. the equivalent gradings of dairy produce for the six months show an increase of 9.2 S per cent, over the grading for the corresponding period of the preceding season.

Closing quotations at today’s mid da: Sellers. Buyei •F. BANKS— £ s. d. i : s. d. Adelaide . . 9 19 0 Com. of Australia (ex div. > 1 9 6 0 8 10 F»i t to i rights) 0 9 1 0 X Ditto (pref.) .. . . 0 ling.. Scot, and Aus. 9 0 0 National of N'.Z. . . 7 0 7 4 6 Nat. of Australasia (con.) 9 13 0 » 9 11 New South Wales . 51 17 6 ol 10 0 3 0 3 6 Ditto, D Mort. i x 1 7 11 Dnton of Australia 15 . 7 6 15 6 0 INSURANCE— National 0 16 3 0 16 0 New Zealand •• 2 x 3 7 9 Queensland 10 0 6 South British .. .. 5 LOAN AND AGENCY— Abraham and Williams (pref.) . . . . 4 5 0 Dalgety and Co. .. — 15 9 0 Farmers’ Co-op. Auc. A (pref. > 0 17 «’lOldsbrough, Mort N*?>v ton King (pref.) XZ & River »’la ie N'.Z. Loan and * ere. 130 0 0 125 ft ft Ditto (pref.) . . . . 80 N. Auck. Farmers’ Co-op, B (pref.) . 0 10 COAL— Hikurangf 0 5 0 — Ditto (pref ) 10 0 0 o Ditto, A (pref.) .. 0 8 0 0 2 6 rnkemiro 3 9 Renown . . .. 0 IS 6 0 17 6 1 »irto (pref.) .. , 0 It 0 10 Taupiri 1 6 3 1 H Ditto (pref.) . .. 1 3 0 Walpa .. 0 it 6 W estport Westport Stockton • 0 3 6 GAS— Auckland . . . .. ... l 4 3 1 3 10 Ditto (con. > . . .. 0 17 Gisborne 0 Thames .. .. •• •« 0 9 6 — SHIPPING— Devonport Steam .. 1 4 6 1 4 3 Northern Steam ft 7 6 Union Steam (pref.) 1 TIMBER— Kauri Timber .• 0 IS 6 0 17 0 1 1 4 fi 1 13 0 National 0 10 6 — WOOLLEN— Kaiapoi — 0 13 9 r >itto (con. ) . . . . Ditto (pref.* 0 Mosgiel 5 Wellington ford.) .. Ditto (pref.) .. .. — 3 BREWERIES— C. L. Innes (pref.) — 1 0 0 N.Z. Breweries 18 17 J. Staples 3 s 2 Timaru (5s paid) .. 0 9 ft O MISCELLANEOUS— Auck. Amuse. Tark 0 3 9 — Ditto (pref.) .. .. 0 17 0 — Australian Glass J2, British Tobacco 2 9 2

call were:— Sellers. Buyers. Bycroft, Ltd 1 11 0 Checker Taxicab . . Colonial Sugar . . Dominion Pictures . 60 8 0 15 0 1 1 0 Ditto (pref.) . . . . 1 1 0 Donaghy's Rope 1 13 0 Electrolytic Zinc (ord. ) 1 16 6 1 15 9 Dito (pref.) .. . . l 17 6 L 16 10 Farmers’ 1 rading . . 0 9 0 0 8 Ditto A (pref) Ditto B (pref.) .. 0 17 0 0 10 0 Gear Meat 3 Grey and Menzies . . 0 10 Hayward’s Pic tures 1 Henry Jones < 'o-op. 1 H.M. Arcade Theatre 10 0 Ditto (pref.) .. .. 1 1 0 Lewis Eady (pref.) . Milne and Choyce .. 0 19 3 1 6 0 Ditto (pref.) .. .. 6 Ditto B (pref.) .. Ditto (deb. stock) 1 6 3 Morris, Hedstrojn .. 1 4 0 1 0 3 Robinson Ice Cream Sanford, Ltd 0 18 6 S. R. Maxwell .. .. 4 Taranaki oilfields 0 6 6 0 a Union Oil Whit tome Stevenson Wilsons Cement 1 3 2 0 6 Blenheim Oil MINING— 6 5 0 n 0 Ducky Shot (4s pd) 0 Ditto (con.) .. .. Maoriland (con) Occidental-Una (2s paid) 0 0 5 0 0 Ditto (con.) .. .. 0 8 5 0 14 4 Waihi Grand June. Mount Dyell 3 3 2 2 e Kuala Kampar Tin 0 15 11 1 DEBENTURES — Auckland Gas, 1932, 5 per cent. .. 94 0 0 Ditto, 1935, €J p.c. Auckland Harb Bd, 51 P.c 96 10 0 Ditto, 5i per cent. Ditto, 6 per cent. City of Auckland, 1940, 5} p.c 97 0 0 Ditto 1943, 5i p.c. • Bor. of Devonport, • 102 10 0 [ Ditto, p.c. Ditto, 5J per cent. Ditto, 5i p.c. 10 Bor. Hamilton, 6 — N.Z. Breweries .. - so Glaxo — GOVERNMENT BONDS War Doan. 193S. 4S 100 0 0 99 12 6 Ditto, 1939, 4?s .. 100 0 0 99 12 6 Ditto, 1941, 4i .. Ditto, 1933. 5£ . . 101 2 6 Ditto, 1936, ai .. 101 15 0 101 7 INSCRIBED STOCK War Loan. 1938, 41 100 0 0 99 12 6 Ditto, 1939, 41 99 12 6 ! Ditto, 1927-41. 51 Dito, 1933, 51 99 10 0 101 6 I Ditto, 1936, 5i 101 15 0 101 1 6