FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 720, 20 July 1929, Page 10

FINANCE & MARKETS

. —"—_~._' 9 Market on Change My "Noon Fall." STEADY trading was recorded on ’Chauge this morning right to the 01050. All the better-class investments meet with a. steady demand: one of the features is the eaeier tone in the market for a certain section of shares in companies dealing with the man on the land.

Fluctuafignt Price movements, shown by: :1 rom‘ parison of sales over the past 24 hours, compared with the price at the time of the previous recorded sale. include:— Eng. Scot. and Ann. Bank, fall of 1:. Nut. Bank of ’Asia. rise of 6d. Goldsbrough, Mort, fall of 3d. (In the South the market dropped Gd lower.) Kauri Timber, rise of 4d. 0 O O Bunineu on Auckland ’Change Transactions on the Auckland 'Change over the past 24 hours include: Yesterday Attemoon.~New Zealand Inscribed Stock, 1938 y 4} par cent, £100: ditto. 1939, 4} per cent., £100; English. Scottish and Australian Bank. .88 8s 9d; National Bank of Austra—lasia. £l9 175: New Zealand Insurance, 413 9d; Goldsbrough. Mort, 475: Auckland Gas. 248 9d: Kauri Timber, 135 4d: VVeiiington ‘Vooilens, .27 (Is; New Zealand Paper Mills, 205 3d. Business This Morning—On ’Change: Alburnia Mining, 1s 6d (two parcels). Reported: Toaths Breweries. 6-13 6d; Union Bank of Australia, £ls 135. O O Northern Ste-ms Slightly Easier The market for Northern Steams is slightly easier. sellers dropping down to 143 9d, without drawing buyers above par. The company pays a steady 8 per cent. 0 O O Goldshrough Mort: Easier The market for Goldsbrough Morts dropped back a further 9d on Dominion Exchanges yesterday, the scrip selling down as low as 465 6d in the South. At that price the return, based on, the latest dividend. is approximately £6 103 per cent. ‘ The Auckland market closed this morning with. buyezs steagy at 463 6d.

Further Advance in N.Z. Breweries A further advance in the market for New Zealand Breweries has benn noted over the past 24 hours. Sales took

place in Christchurch yesterday afternoon at 535 9d. compared with a peak prim-a the day before of 82s 46:. At yesterday's highest price the approximate return, based on the latest dividend, is £3 115 9d per cent. ()n. the Auckland market this morning buyers offered. 835. t i I Slightly More Interest in Mining Certain mining scrip is attracting a, little more interest. Alburnias were dealt with this morning at 15 6d. making the first recorded sale of this scrip for several weeks. \Vaihis and Kuala Kampar Tins are slightly easier. t O O Carbonisation of Waikato Goals After a. long period of negotiations. referred to from time to time in these columns. the ‘Vaikato coalmining interests have reached a. stage Where it is hoped to register a. company xvithin a. few days with a capital of £IOO,OOO, having as its chief object the applica~ tion of the carbonisation process t 0 the 'V’Vaikato coals. A contract has been entered into between the Pukemiru, VVaipa, Taupiri and Renown Coal Companies on the one hand, and the Fuel Industries, Ltd., London, on the other. It is understood that the capital will be arranged by the companfn concerned. and that there will not be any shares available to the public. A contract has been let for plant capable of turning out 250 tons of treated products a. day. The plant will deal with all the slack of the four companies.

Calls and Dividend; Calls and dividends are due as follow: Dividends— ~ Due. Electrolytic inc, 6 p.c., ord. and pref. (final) .. .. .. .. Sept. 6. N.Z. Insurance, 11d a. share (final) .. .. .. .. .. .. August 6. Victoria Nyanza. Sugar, 7?: per cent. (interim), August 31. Calls— Lucky Shot—36 a share .. .. July 22. Alburnla—Zd a. share .. .. .. July 31

TO—DAY’S QUOTATIONS

Closing quomtolnl gt to-dzy'l mld-dsycau were:—

THE DAIRYING INDUSTRY

REPORTS OF COMPANIES The output of the East Tamaki Dairy (So-operative Company for the season 1928-29 showed an increase of 253 tons over that of the previous season. The company manufactured 630 tons of butter during the season. The average payout 3 lb. of butter-lat was 1s 7d. 0 o e The Whangnroa. Dairy Company‘s nineteenth annual report shows an increase in output of 37 tons of butter over that or the previous year. All butter was sold (.0.b.. Auckland. with the exception of that sold {or local consumption and 2'04 boxes consigned. The average price a. lb. of butter-(m, including the final payment, but exvluding cream car-[age £0823, was 17.6903 :1 lb. o t t A strong financial position is revealed in the third annual report of the Ohura. Valley (“o-operative Dairy Company. Ltd. The policy of consignment was adhered to throughout the season and a good average price was received {or the sea.son's make. The total payment to suppliers 3 lb. of butter—rat was 15 7.571 d.

MELBOURNE PRODUCE

MELBOURNE, Friday. Th 9 !ollowing are today‘s quotations on the Melbourne produce market:— ‘Vheat.—Ss 10d. Plant—£l3 to £l3 53. Bram—£7. Pollard.—£7 105. Gait—4:. Barley—English. 35 Rd to 35 9d. Mafia—~s3 6a to 55 9d.

EMPIRE DAIRIES, LTD.

T 0 COMPETE WITH TOOLEY STREET PALMERSTON NORTH, Friday. The scheme for co-ordinating dairy produce marketing by the formation of an organisation to be known as Empire Dairies, Ltd.. was explained to a. large meeting of dairy factory representatives in Palmerston North yesterday by Blessrs. \\'. Grounds and VV. Goodfeliow. Mr. Grounds announced that: from present indications 50 per cent. of New Zea.land butter would be available for handling by the organisation in the coming season. No esitmates were made concerning cheese. Mr. Grounds urged acceptance of the proposals, as the soundest practicable method which had been advanced. )lr. (modfellow indicated that the Dro-pus-.11 was in enter into active business «L-nipetition with Tooiey Street, on a consignment basis, but. not to fix prices. It “—uuld be easy to arrange for adequate finance. The object was to eliminate sales collu‘“”““":,,. ~d7_ A,,,,,A, 7 ...,d.“

yv’i‘iig‘éigzfiiers were accorded a. hearty vote of thanks.

BUTTER AND CHEESE

Blerchants rep Oz-t receipt of overseas cables as follow: Joseph Nathan and Company. from its London principalsz—“Butter, 17:25: market slow."

CHICAGO WHEAT MARKET

(Australian and N.Z. Press Association) Reed. 9 am. CHICAGO, Friday. Wheat—“ Tuba 1 dollar 375. cents a bushel: September. 1 dollar 41 5-S cents; December,. 1 dollar, 481 cents.

Buyers. Sellers. 5 s. (1. 3: s. d. BANKS—Auat. of Commerce 1 15 9 1 16 6 Australasia .. .. .. -—— 14 14 0 Com. 0! Australia . 1 9 11 1 10 2‘. Ditto (pref.) .. .. 7 8 6 7 11 0 Eng., Scot. & Aust. — S 10 0 National or N.Z. .. 6 18 6 7 1 6 Nat. o! Australasia (com) .. .. .. .. —— 917 0 New South Wa‘les . 51 7 6 ~— New Zeaiand .. .. 3 1 3: 3 1 8 Ditto (D mort.) . 1 8 0 — Ifnion of Australia . -— 15 14 0 INSURANCE-— A.P.A. .. .. .. .. .. 0 12 0 ~— National .. .. u .. 0 16 1 0 16 4 New Zouiand .. .. 2 7 9 2 S 3 Queensland .. .. .. 3 :1 6 —— South British .. .. — 3 S 6 Standard .. .. .. 3 6 0 —- LOAN AND AGENCY—Abraham & William: (pt-ex.) .. .. .. 4 8 0 ... Farmers' Co-op. Auc. 3 6 0 -—— Goldsbrougl Mort. . 2 6 6 2 7 3 N.Z. and iver Plate 1 ll 0 1 12 0 N.Z. Guar. Corp. .. 0 9 I: 0 9 9 Loan and Mere .. .. 123 0 0 —— . Ditto (pret) .. .. 80 0 0 -- N. Auck. Farmerl' Co—op. (0rd.) .. .. O z 9 —- Ditto (B pref.) .. 0 11 6 0 14 0 “fright. Stephenson and Co... .. .. .. 1 Q 6 — COAL— firey Valley . . .. 1 3 9 —_ Hikurangi (pret) . 0 4 0 -— Ditto (A pref.) .. 0 2 6 -— Pukemiro .. .. .. 3 6 6 3 10 O Ranown .. .. .. .. 015 6 — Ditto (pref) .. .. 0 2 11 O 8 2 Tnupiri .. .. .. .. 1 7 9 — Ditto (preh) .. .. 1 3 6 —— \Vaipa .. .. .. .. 0 1:3 6 — GASAuckland .. .. .. .. 1 4 R 1 4 9 Ditto (com) .. .. 0 18 2 0 IS 7 Gisborne .. .. .. .. 0 1‘3 6 — SHIPPING— Davenport Steam .. 1 1 9 1 8 0 Howard Smith .. .. 1 f! 2‘. —— liuddart-Parker .. 2 5 3 2 6 0 Ditto (pret.) .. .. 1 1 o — Northern Steam .. 0 14 6 0 14 9 Ditto (com) .. .. -— 0 7 0 P. a: 0, (def. stk.) —— 3 0 0 Union Steam (prefi) 1 0 9 — TIMBER.— Barthoiomew .. .. 1 0 0 —— Kauri Timber .. .. — 0 18 E) Leyland-O'Brien .. —-—- 1 11 6 BREWERIES— U. L. Innea (pron) 1 0 0 —— N.Z. Breweries .. .. 4 3 fl -4 4 0 J. Staples.. .. .. .. 2 13 3 — MISCELLANEOUS— Auck. Amuse. Park 0 0 S 0 2 0 Ditto (pt-er.) .. —— 0 12 0 Australian Glass . . 2 14 0 — Booth. Macdonaid (0rd.) .. .. .. .. 0 1 9 0 2 0 Ditto (prom) .. .. 0 5 0 — British Tobacco .. 2 8 3 2 S 9

133‘croft. Ltd. .. .. 1 12 9 1 15 0 («010mm Sugar .. 57 10 0 57 12 6 Don-union Pictures.. 1 0 6 ~— Duto (pref) .. 1 0 6 __ Donughy's Rope .. 1 14 G -- Electrolytic Zinc (o1'd.) .. .. .. .. 116 6 117 6 Ditto (pref) .. .. 1 17 6 1 18 0 Farmers' Trading . 0 8 o 0 8 3 Ditto B (pref.) .. 0 12 6 0 14 6 Gear Meat .. i. .. 2 3 0 2 4 6 Grey and Menzies .. 0 11 0 —- Vllvyward’s Pictures — 1 0 0 H’..\I. Arcade (prefi) 1 1 0 -—- Kempthnrne, Presser 3 15 0 -—~ Lewis Eady (0rd.) . 1 1 o -' Ditto (pref) .. .. —— 1 0 0 Milne and Choyce . .1. 6 7 - Ditto (pron) .. .. 1 65 7 — Ditto (B pref.) i. 1 6 7 —— Ditto (deb. stock) 1 6 7 1 8 9 N.Z. Express Co. (pref) .. .. .. .. 0 17 0 .— .\‘.Z. Farmers’ Fert. 1 4 0 1 4 6 Northern Boot .. .. —-- O 14 0 Phillipps and Impey 2 17 6 — Robinson Ice Cream 1 2 9 — Sanford, Ltd. .. .. 0 17 9 0 18 6 Ditto (preh) .. O 19 6 —- Sharland and Co... 1 0 6 — Ditto (pref) .. .. 1 0 6 ~—- S. R. Maxwell.. .. 0 4 B 0 10 0 Taranaki 0!! Fields 0 2 10 0 3 4 Thames Theatre .. 0 10 0 —- Tonson, Garlick .. 0 4 6 O 6 3 Union 011 .. .. .. -— 2 4 0 W'ilsons Cement .. 2 2 6 — M'INING—- . Alburnia (2S 1011 pd) 0 1 0 0 2 0 Moanataiari (con.).. —— 0 0 6 Lucky Shot Us pd.) 0 1 1 O 1 8 Ditto (com) .. .. 0 0 5 0 1 3 Ohinemuri (0rd.) .. 0 8 3 0 8 7 \Vaihi .. .. .. .. 011 9 012 0 “'nihi Grand Junc. 0 0 10 0 1 1 Mount Lyell .. .. .. 2 2 6 3 3 3 Kuuln. Kampar Tin 0 13 9 0 14 4 DEBENTURES — Auckland Bar. 311.. 5} no. .. .. .. .. 9f; 0 n -— Ditto, 5; (Le. .. .. 101 0 0 —- Ditto, 6 p.c. .. .. 103 0 0 — City of Auckland. 1940 6} p.c. .. .. 99 0 0 —- Ditto, 1936, 5} p.c. 99 0 0 —— Ditto, 1943, 5} pt.c. 101 0 0 —— 801'. of Devonpor , 6 p.c. .. .. .. .. 103 0 0 -— Boro. of Mt. Eden, 6 13.0. .. .. .. .. 10410 0 —- N.Z. Breweries .. .. 1 7 3 —- Gisborne SheepIm‘mers .. .. .. 97 0 0 -— GOVERNMENT BONDS—\Vur Loan, 1938, 4; 100 0 0 —— Ditto. 1939. 43 .. 100 o o —— Ditto, 1941, 4; p.c. 100 0 0 ~— Ditto. 1933. iii p.c. 99 5 0 —- Ditto, 1933, 5% p.C. 101. 0 0 — Ditto. 1936, 5; p.c. 101 5 0 — [NSCRIBED STOCK— ‘Vm‘ Loan. 1938, 4.} 100 0 0 — Ditto, 1939, 4; pc- 100 0 0 —' Ditto, 1927—41; 51 9.2 F: g -— Ditto, 1933, 5 Din .. -" '— ZJitto, 11,33, 5; 13.0.. 101. 0 0 101 10 0 Ditto, 1986, 5; 1:.c. 101 5 0 —— _____—