FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 696, 22 June 1929, Page 28

FINANCE & MARKETS

Market Buoyant Healthy Volume of Business Bv “Noon Cali.’’ DESPITE a tendency toward week-end slackness. Lealthv trading was recorded on ’Change this morning right to the close. Interest is spread over a wide range, but Banks and Insurances receive a big share of attention on a very firm market.

irvUCTUATIONS Price movement*, shown by a i comparison of sales over the past twenty-four hours compared with i the price at the time of the previ- , ous recorded sale, include: * Wilsons Cement, rise of I^d Mount Lyell Milling, rise of 4d. Business on Auckland Market business transacted on the Auckland Jbiarket over the past 24 hours included: Yesterday afternoon: New Zealand !Breweries (deb.), 25s 3d; Bank of New South Wales (Melb. register), £sl 12s; IJnion Bank of Australia (Melb. register), £ls 6s; South British Insurance, 66s 6d; Auckland Gas (ord.), 24s f»iB; ditto, (con.). 18s 2d; Devonport 22s 3d; Wilsons Cement, 41s HOJd. Hew Oil Bore A Press Association message from Jfjew Plymouth announces that the Oil Well Company has started a, new bore on a site 130 feet from the bore in which a flow was struck a few months ago, but which choked within a minute or so of the flow starting. is heard of this company’s shares Rt the moment. Shares in the Taranaki Oil Fields, !Ltd., are practically neglected, with nominal buyers at 3s 6d. This company is reported to be carrying out steady development work on the Morere (East Coast) field. Jtaupiri Coals Firming A very firm tone is registered in the frnarket for Taupiri Coals, and buyers by. this morning’s call moved up 3d B.bove the last recorded market price )U> 25s j#d; sellers held for 26s 6d. Sellers of Pukemiros withdrew, leaving firm buyers at Thursday’s market fcrice of 655.

"Westports were offered at 35s 3d, compared with the latest recorded market price of 25s Id, but buyers were not attracted, and the quotation was unsupported.

Steady Buyers for Phillipps and Impey Steady buyers held yesterday’s improved offer of 55s for Phillipps and Impey. This quotation is interesting in the fact that the shares in this company are held in a very small compass, and very seldom come on the open market. Thus, in the absence of records of sales, it is slightly difficult to assess their market value, particularly when a fairly tight ho\4 is kept on the balance-sheets.

Few Auckland trading concerns can show a better record than Phillipps and Impey. A sound and progressive policy of management has resulted in distributions of surplus profits to shareholders in the past, apart from a regular dividend. Since 1921 reserves have been built up from £3,553 to a figure little short of the paid-up capital of £50.000.

Dividends Due Dividends expected in the near future include:

Due. Bank of New Zealand—l 4 1-3 p.c. p.a., ord., and 7i p.c. p.a., D pref June 22 Mount Lyell—ls 3d a share (int.) June 24 A. J. Entrican and Co.—6 p.c. p.a., ord., and 6 p.c. p.a., pref. June 27 British Tobacco—2J p.c. on ord.

(int.) Jun 29 •Loan and Merc.—2i p.c. on pref. (int.); 3J p.c. on 2nd pref. (int.): 3 p.c. on ord.

(int.) June 29 tNew Zealand and River Plate —4i p.c. (Int.) July 1 National Mortgage—3| p.c. (int.) July 2 •Less 2s in £1 English income tax. tLess 4s in £1 income tax.

TO-DAYS QUOTATIONS

Closing quota toin* at to-day’a mid-day call were:—

OF INTEREST TO INVESTORS £250,000 TOBACCO COMPANY The attention of Investors is directed In the preliminary announcement in the advertising: columns of this issue of the Empire Tobacco Corporation Ltd. This company, which is being formed by a ■indicate of influential business men, will have an authorised capital of £250,000, of which over £IOO,OOO will have been subscribed and fully paid up. Its objects cover the development of the tobacco industry in the Dominion on a ■wide scale. Both the growing of tobacco and the manufacturing and marketing will be engaged hpon. 0 WORLD WHEAT ACREAGE EARLIER ESTIMATES REDUCED l Australian and .V.Z. Press Association) WASHINGTON, Thursday. The United States Department of Agriculture estimates that there is a total of 41,000,000 acres sown in wheat in 22 countries. This is about 6,000,000 acres more than in 1928. The chief increase is 4,200,000 acres In the United States. It is too early m make a very definite forecast of the •world’s crop conditions, but it may be at least 5 per cent, less than last year. Droughts in Argentina and the severe Printer in Europe; are held responsible for the modification of earlier estimates that the world's crop would be larger than In 1928.

BOBBY CALF INDUSTRY WAIKATO INTERESTS COMBINE (From Our Oxen Correspondent) HAMILTON, Friday. An agreement has been entered into between the South Auckland Dairy Association and the Waikato and Thames V'alley Co-operative Calf By-product Company, Ltd., tor the handling of bobby calves during the ensuing season. The agreement provides that the calf company will undertake the whole of the organisation in conection with collection and disposal of bobby calves, both skins and veal, for a definite sum. The calf company will pay a definite advance price each month for the calves, and at the end of the season, after payment of expenses, any surplus will be paid out to suppliers of calves by way of bonus. CHICAGO WHEAT MARKET (Australian and K.Z. Press Association) Reed. 9.26 a.m. CHICAGO, Friday. Wheat.—July. 1 dollar 113 cents a bushel; September, 1 dollar 16 5-8 cents; December, 1 dollar 21 5-8 cents. N.Z. ONIONS IN SYDNEY (United P.A. —By Telegraph — Copyright) SYDNEY, Friday. New Zealand Globe onions brought by the Karetn are selling at £l4 a ton.

FOREIGN EXCHANGE RATES British Official "Wireless RUGBY, Thursday. The following t'ates on foreign exchanges are current today, compared with the cabled quotations on June IS and par:—

RODNEY DAIRY COMPANY An increased output of approximately 20 per cent, is shown in the fourth annual report of the Rodney Co-operative Dairy Company, as compared with the output for the 1927-28 season. Advance payments on butter-fat during June, July and August were at Is s»u finest grade, and from September to May 31 at Is 4id. A final payment of 13d a lb for the latter period will be made on July 20. The payments are clear of cream cartage, which was paid out of working expenses, and, when included, the pay-out will be over Is 63d a lb. The directors propose a dividend of 5 per cent. BUTTER AND CHEESE Messrs. Dalgety and Company, Ltd., report having received the following cablegram from its London house, dated 20th inst:— Butter.—The market is quiet. New Zealand finest salted, 3 67s to 1695; Danish, 170 s to 1725; Australian, finest unsalted, 164 s to 1665; finest salted. 162 s to 1655; G.A.Q., 156 s to 160 s. Cheese: The market is quiet; New Zealand white. 92s to 935: coloured, 94s to 955; Australian white. 90s to 91s; coloured, 91s to 925; Canadian white, 104 s to 110 s; coloured, 104 s to 108 s: 0.i.f., 935.

Buyers. Sellers. RUNKS- £ a. d. £ a. d. Altai. of Commerce. Australasia 1 16 4 1 16 9 14 17 0 Com. of Australia . 1 10 0 1 10 3 Ditto (con.) . . 0 19 9 Eng'. Scot. & Aust. 8 8 0 8 11 0 National of N.Z. . . Nat. of Australasia 7 1 0 7 3 6 (con.) 9 10 0 9 12 0 N'«ew South Wales .. New Zealand (ex 51 5 0 51 12 6 div.) 3 1 6 3 2 3 INSURANCE— National 0 16 0 0 16 3 New Zealand . . 2 7 9 Queensland 3 4 6 South British .. .. — LOAN AND AGENCY— Abraham and Williams (pref.) 4 X 0 — Dalgety and Co. .. farmer*’ Co-op. 15 5 Auctioneering . 2 3 0 3 10 0 Ditto (A pref.) . . 0 17 9 Ditto (B pref.) . 0 16 GoldsbrouRh. Mort 2 10 0 10 6 Newton King: . . 0 10 0 Ditto (pref.) . . . 0 9 6 N.Z. J>- River Plate 1 12 N.Z. Guar. Corp. .. N- Auck. Farmers' 0 9 6 — Co-op. (ord.) .. .. 0 9 0 1 l tWright, Stephenson 1 4 6 — COAXr— Kikurangl (pref.) .. 0 3 6 0 7 0 Pukemlro Renown 0 14 0 2 10 Ditto (pref.) .. .. 1 3 0 0 11 JWestport-Stockton . — GAS — Auckland 1 4 5 1 4 6 Ditto (con.) .. .. |3i»borne 0 LI SHIPPING— Devonport Steam . . — 1 3 0 JJuddart-Parker 2 5 2 9 Northern Steam 0 14 Ditto (con.) .. 0 6 Union Steam (pref.) 1 — •TIMBER— Bartholomew 0 IS 0 1 1 0 Kauri Timber . . . . 0 17 Deyland-O'Brien . . WOOLLEN— Ditto (con.) .. .. 0 4 6 Ditto (pref.) .. .. la — Ditto (pref.) .. .. 6 — BREWERIES— r\ L. Innes (pref.) 1 0 0 N-Z. Breweries .. .. 3 14 MISCELLANEOUS— Auck. Amuse. Park 0 0 6 0 3 0 Ditto (pref.) .. .. A»st. Iron & Steel (pref.) A ust. Glass liootn, Macdonald 2 2 0 9 9 Ttiitlsh Tobacco J3urns, Fhilp — 2 5

Buyers. Seilers. Bycroft, Ltd 1 11 6 1 16 ft IColonial Sugar 57 12 6 08 0 Dom. Pictures 1 0 6 Ditto (pref.) 1 0 6 Donaghy's Rope 1 13 0 Dunlop Rubber .. .. 1 6 1 7 9 Electrolytic Zinc ford.) 1 15 fi 1 36 Ditto (pref.) .. .. 1 16 3 1 17 Farmers’ Trading . . 0 0 ft 8 6 Ditto A tpref.; 0 35 6 ft 17 6 Ditto B (pref.) ft 12 ft 0 3 4 6 Gear Meat 2 6 Grey and Menzies . 0 10 9 Hamilton Theatres . Hayward’s Pictures 1 0 6 H.M. Arcade (pref.) 1 1 0 N.Z. Drug 36 Lewis Eady (ord.) . 1 Ditto (pref.) .. .. 1 0 Milne and Choyce . Ditto (pref.) 1 6 6 Ditto B (pref.) 1 6 f» Ditto (deb. stk.) . 1 6 6 N.Z. Farmers’ Fert. 1 1 N.Z. Paper Mills . . ft 19 9 1 N.Z. Refrigerating ft la Ditto (con.) .. .. Phillips and Impey . Robinson Ice Cream 1 Ditto (pref.) . . . 1 Ditto (pref.) . .. 0 55. R. Maxwell & Co. 0 Taranaki Oilfield 0 Thames Theatre Tonson Garlick . . . . 2 1 2 East Africa Coffee 2 2 3 2 MINING— Alburnia (2s 8d > — ft 1 9 Moantaiari (con.) Lucky Shot (4s pd > 6 Ditto (con.) .. Occidental-Una (2s 6 Waihi 0 H 0 2 Kuala Kampar (Tint 12 DEBENTURES — Ditto. 1935, 64 P C. 103 Ditto, 6i p.c IftO 0 0 102 Ditto, 6 p.c 102 10 City of Auckland, 1940 51 p.c Ditto, 1943. 54 p.c. 101 Audi. Hosp Bd., oj 100 ft Bor. Devonport, 6 102 10 Bor. of Mount Eden, 6 p.c. 104 Bor. Hamilton, 4i p.c 1949 N.Z. Breweries . - 1 Gisborne SheepfarmGOVERNMENT BONDS— War Loan. 1938, 44 99 1ft ft 100 2 6 Ditto, 1939, 4J p.c. 99 12 6 Ditto, 1933, 5* p.c. 99 t> Ditto, 1933, 5i p.c. 101 ft Ditto, 1936, 5£ p.c. 101 0 0 — INSCRIBED STOCK War Loan. 1938, 4} 99 10 ft 100 ft 0 Ditto, 1939, 4* p.c. 99 1ft ft Ditto, 1933, 51 p.c. 91 b ft Ditto, 1933, p.c. 101 1ft 0 Ditto, 1936, 5i p.c. 101 ft 0 —

Montreal, dol. . New York, dol. June 20. J une IS. Par. 1.S^T25-32 till Paris, fr Brussels, belga. Geneva, fr. . . . Amsterdam, fl. Rome, lire . . 124 25.196 |f J2.07y is ttt! Berlin, r.m. . . 20.315 20.43 Oslo, kr. .... Copenhagen, kr Vienna, sch. . . Prague, kr. . . Helsingfors, m. Madrid, pes. . . Lisbon, escu. 18.191 18.195 18.150 34.51 1632 :iif* 34.52 \m s Athens, dr. . . Bukarest, lei . . ill 375 818 Rio d’ J^neiro^rn 5i 1( . % 1 16 Calcutta, rupee Shanghai, tael . Hong-Kong, do) 17 13-16 2Si If 1S . U lSd* ill ■ Batavia, fl. . . 12.111 12.10