FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 643, 20 April 1929, Page 12

FINANCE & MARKETS

Firm to the Close

GREAT INTEREST IN MINING

By “Noon Call

THE market for all the better-class securities held right to the close on ’Change this morning. Interest was widespread, and a healthy volume of business’ was recorded.

FLUCTUATIONS Price movements, shown by sales over the past 24 hours, when compared with the price at the time of the previous recorded sale, include:. — National Bank of New Zealand, rise of 3d. Waihi Mining, rise of 2d. Renown (pref), rise of Id. Dalgety and Co., rise of Is. National Insurance, fall of Id. In the banking group most shares meet with a very steady demand on a firm market. New Zealands were dealt with at £7 2s outside the call room this morning. Commercials of Australia are very held. Insurances are quiet, the market showing, if anything, a slightly easier tone. Nationals eased Id. In the loan and agency group Dalgety’s were dealt with at £ls 14s this morning, following the announcement that the company is paying an interim dividend at the rate of 7s a share. N.Z. Guarantee Corporations are quietly active around 8s lOd. It would not be surprising if this market moved up slightly in the near future. The scrip should be worth Os.

The mining group was quietly active, with interest spread over a wider range. VVaihis during the earlier part of the morning tended to ease, with indications, taken from the interest shown in the forward market, that a movement toward lower levels would not be unexpected. Before mid-day, however, the market hardened, and a safe was recorded at 13s lOd. Lucky Shots and Alburnias were also dealt in at current rates. It is many months since mining attracted such a wide interest, extending as it does to the scrip in the smaller development concerns. The gilt-edge market is firm, with steady trading in most classes of Government and Jocal body securities. Business yesterday afternoon; Sanford, Ltd. (pref), 20s 3d; ditto (ord.), 18s 9d; Kauri Timber, 17s 8d (two parcels); National Insurance, 16s sd; Bank of Australasia, £l4 16s 6d; N.Z. Ins. Stock, 1936, 51 per cent., £lOl 10s. Business this morning: Dalgety and Co., £ls 14s; N.Z. Guarantee Corp., 8s lOd; Renown Collieries (pref), 3s; N.Z. Farmers’ Fert., 21s 9d (two parcels); Lucky Shot mining (pd), lOd; Alburnia mining, Is lOd: Waihi mining, 13s lOd; National Bank of New Zealand, £7 2s.

TO-DAY’S QUOTATIONS

SOUTHERN EXCHANGES YESTERDAY’S SALES Press Association per cent - Stock, 1936. £lOl 10s (two parcels); 4} per cent. Stock, 1939, £IOO 2s 6d; 4} per cent. Stock, 1938 £100; Union Bank, £ls 10s; New Zealand Refrigerating (20s paid), los 4d; English, Scottish and Australian Bank, £8 17s; Bank of New Zealand, 62s 3d; Westport Stockton (ordinary), 3s 2d; Colonial Sugar, £59 15s (three parcels); Mount Lyell, 43s 9d. Christchurch.—Commercial Bank of Australia, 30s Id (two parcels).) 30s 2d (two parcels); Goldsbrough. Mort, 53s 9d (two parcels), 53s lOd; New Zealand Breweries, 62s 6d (three parcels): Colonial Sugar, £59 10s (two parcels); Mount Eyell, 44s 3d (four parcels); Victoria Nyanza Sugar. 445: Winding Creek (6d paid) 9d, Sd: National Insurance, 16s sd; United Building Society, 15s 9d; New Zealand Drug Company, 745. FEILDING STOCK SALE Press Association FEILDING, Friday. Firm prices ruled for sheep at the Feilding stock sale to-day, when a large yarding came forward. Farmers are stocking more heavily than usual, thanks to the splendid season and topdressing, but still apparently they require more stock to keep the feed down. Fat sheep were down compared with prices of a month ago, and the quality was not up to the previous standard. Fat lambs made 20s 3d to 25s 2d: ewes, 22s to 27s lOd; two-tooth ewes, 30s 2d; wethers, 27s 6d to 29s Sd. Stores: Four and five-year, running with Southdown rams, 20s to 32s 6d; two tooth, 335; two, four and six-tooth, 325: ewe lambs. 2Ss: wether lambs, 16s 5d to 21s 9d; mixed woolly Southdown lambs, lSs 3d; empty ewes. 19s Id; two-tooth wethers, 28s; rape lambs, to ISs lOd. Dairy Cattle.—Springing heifers made £6 15s to £9 17s 6d; Jersey heifers, poor, £3 10s; weaner heifers, small, £2 18s; cows in milk, to £ll 10s; empty cows, £4 17s 6d to £6 2s 6d. Stores; Small weaner steers, 18s 6d to £4 12s 6d. Stores: Small weaner steers, 18s 6d to £4 12s 6d. according to size; two-year steers. £9 to £9 2s; heifers, running with bull, £6 to £7; Jersey bulls. £5 2s 6d. Fat cows mad© £5 11s to £S 17s fid: Jersey cows, £6 ss; heifers Jersey. £5; bullocks. £10; stag, £7 12s fid; vealers. £5 to £4 17s Sd; bulls. £3 15* to £6 17s 6d.

THE DAIRYING INDUSTRY PAYMENTS TO SUPPLIERS The New Zealand Co-operative Dairy Company,. Limited, will advance its suppliers Is 4d a pound butter-fat for cream supplied for butter-making and Is 5d a pound butter-fat for milk supplied for cheese-making last month. T© Awamutu Co-operative Dairy Company, Limited, made 58 tons of butter in March, compared with 42.} tons for the same month last year. The output for the 10 months was 690 tons, compared with 433 tons last year, an increase of 59 per cent. The company is making a cash advance payment of Is 4}d a lb butter-fat for finest quality cream supplied in March, and shareholders are credited with an additional }d a lb. The total amount paid for the season to date is £90,467 compared with £52,787 last yeai. The payouts to be made by the dairy factories operating in the Morrinsville district show a large increase over those for the same period last season. The figures are as follow, those for the corresponding month of last year being given in parentheses:— Morrinsville.—Pounds of butter-fat, 158,012 (115,460); payouts. Is sld (Is 4}d), distribution, £11,344 16s 3d (£7,925 7s 4d). Tatua (Tatuanui). Pounds milk, 1,422,865 (1,216,880); pounds butter-fat, 61,359 (52,476); payout. Is 5d (Is sd); distribution, £4,342 (£3,716). Norfolk (Motumaoho). —Pounds milk, 671,45 S (644,578): test, 4.42 (4.28); pounds butter-fat, 29,693 (27,603); pay-out. Is 5d (Is sd); total distribution, £2,103 3s 5d (£1,955 Is 8d). Sunny Park (Te Poi). Cheese: Pounds milk, 1,101,994 (665.824); test, 4.23 (4.15); pounds butter-fat, 46.626 (27,800); pay-out, Is 5d (Is sd); distribution, £3,302 13s 6d (£2,166 12s 6d). Butter; Pounds cream, 16,350 (36,477); pounds butter-fat, 7,548.2 114,881.6); payout, Is 4gd (Is 3d). Buter-fat supplied to the Te Aroha Dairy Company during March showed an increase of 35 per cent, over the returns for the corresponding month of last year. The company made an advance payment to suppliers on April 15 of Is 5d a lb. of butter-fat net cash at the farm gates. This season the company has paid out to date £164.041. compared with £106.409 over the corresponding period of last year. CHICAGO WHEAT MARKET (Australian and N.Z. Press Association) Reed. 10 a.m. CHICAGO, Friday. Wheat.—May, 1 dollar 17 1-8 cents a bushel; July, l dollar 21 cents; September, 1 dollar 23j cents.

Closing- quotatoins at today* s middayc Sellers. Buy e £ d £ S d BANKS— Aust. of Com 1 IB fi 1 15 9 Australasia 14 17 fi 14 15 0 Com. of Australia . . L 10 6 1 10 0 Ditto (pref.) .. .. 7 7 6 Eng., Scot. & Aust. is IB National of N.Z. . . 7 0 7 0 0 National of Australasia (con.) 9 14 n 9 11 6 New South Wales .. 51 2 6 New Zealand .. .. 2 3 0 Ditto (D Mort.) .. 6 Queensland National 9 13 6 Union of Australia . 15 10 fi 15 9 0 INSURANCE0 9 0 National n 3fi 9 0 16 New-Zealand .. .. 7 0 2 6 3 Queensland S 0 3 7 0 South British . . . . 6 3 6 Standard — 3 4 6 LOAN AND AGENCY— Abraham and Williams 4 1 0 Ditto (pref.) .. .. 4 9 0 Dalgety and Co. 15 13 0 Farmers’ Co-op. Auc. 10 0 2 16 0 Goldsbrough, Mort . 14 2 13 3 Newton King (pref.) 0 8 9 N.Z. & River Plate 1 13 6 1 12 N.Z. Guar. Corp. .. 0 1) 0 0 8 S N.Z. Doan and Mer. 121) n 0 125 0 Ditto (pref.) .. .. — SO 0 0 N. Auck. Farmers’ Co-op, (ord.) — 0 2 B Ditto B (pref.) .. — 0 10 0 COAL— Grey Valley 1 3 6 1 2 9 Hikurangi 0 Ditto (pref.) . . . . n S 0 0 7 0 Ditto A (pref.) .. 5 6 0 4 9 Pukemiro 0 Renown .. . . .. . . 0 17 9 Ditto (pref.) .. .. 0 1 0 2 11 Taupiri 1 6 9 1 6 6 Ditto (pref.) .. .. 1 3 0 W estport-Stockton . 0 Ditto (pref.) .. .. — 0 3 6 GAS— Auckland 1 4 4 Ditto (con.) .. .. — 0 IS SHIPPING— Devonport Steam .. l 4 3 Howard Smith l 5 Huddart-Parker . . Ditto (pref.) .. .. Northern Steam 0 Ditto (con.) 0 7 4 P. &- 0| (def. stk.) 1 6 Union Steam (pref.) — 1 0 6 TIMBER— Bartholomew . . . . Kauri Timber . . . . 0 17 9 Gey land-O’Brien 1 2 4 fi National 0 9 0 0 Parker-Lamb .. 0 19 0 WOOLLEN— Kaiapoi 0 14 Ditto (con.) .. .. Ditto (pref.) .. .. 0 17 0 0 15 9 BREWERIES— C. L. Innes (pref.)* N.Z. Breweries J. Staples — 2 5 0

za.ll were:— Seilers. Buyers. £ s d £ s d MISCELLANEOUSAuck. Amus. Park . 0 3 0 — Aust. Iron and Steel <pref.) British Tobacco .. . 8. ft 2 7 6 Burns, Philp .... . . 9 1 13 Checker Taxi .. 0 7 6 0 1 6 Colonial Sugar .. .. 60 0 0 Dominion Pictures . Ditto (pref.) .. .. 1 1 C Donaghy’s Rope . . 1 13 Dunlop Rubber . . . . 1 Electrolytic Zinc 1 15 6 15 Ditto (pref.) .. .. 1 16 9 1 16 Farmers’ Trading . 0 8 9 Ditto, A (pref. ) . 0 17 Ditto, B (pref.) . 0 14 0 Gear Meat 2 6 0 10 9 Hayward’s Pictures 1 0 9 L 0 0 H.M. Arcade Theatre (pref.) 1 1 0 Holden’s Motors Kempthorne Prosser 12 0 Lewis Eady, Ltd. 0 19 Milne and Choyce . 1 5 9 Ditto (pref.) 1 5 Ditto, B (pref.) .. 1 Ditto, deb. stock 1 6 6 1 5 9 N.Z. Paper Mills.. 0 18 N.Z. Refrigerating . 0 15 9 0 15 4 Ditto (con.) . . . . 0 7 5 0 7 Robinson Ice Cream 1 2 6 l 0 0 0 18 6 Ditto (pref.) .. 1 3 0 1 0 Taranaki Oil Fields 0 5 6 0 5 4 Thames Theatre Co. 0 10 0 Victoria Nyanza Sugar 2 0 2 0 Whittome Stevensons 4 6 Wilsons Cement —■ 2 1 0 MINING— 0 •>, 3 0 1 7 Lucky Shot (4s pd.) 0 1 0 0 0 8 Ditto (con.) .. n 0 0 Maoriland (con.) 0 0 5 Occidental-Lna (2s paid) 0 0 7 Ohinemnri (ord.) . . 0 8 6 8 Ditto (pref.) .. . . 0 9 0 Waihi 0 14 0 0 13 8 AVaibi Grand June. 0 0 10 Mount Lyell .. . . 2 14 6 2 13 9 Auckland Gas. 1932. 5 p.c 95 0 0 Ditto, 1935, 6i p.c 103 0 0 Auckland Harb. Bu. 5i p.c 1 00 0 0 Ditto, 6 p.c 103 0 0 City of Auckland, 1940, 51 p.c. 99 0 0 Auck. Fire Board, 6 104 0 0 Bor. of Mt. Eden, 6 103 0 N.Z. Breweries, Ltd. 1 6 Gisborne Sheepfanners’ 100 0 GOVERNMENT BONDS War Loan, 1938, 45 100 0 0 99 10 0 Ditto, 1939. 4£ p.c. 99 0 Ditto, 1933, 51 p.c. 99 0 0 Ditto, 1933, 5J p.c. 101 10 0 101 5 0 Ditto. 1936. 51 p.c. . — lol 5 0 INSCRIBED STOCK War Loan, 1938, 4J 100 fi Ditto. 1939. 4* p.c. 100 6 Ditto, 1927-41 51 Ditto, 1933, 51 p.c. — 99 0 0 Ditto, 1933, 55 p.c. Ditto, 1936, 55 p.c. 101 5 0 Dito, 1941, 5 p.c. 99 0 0