COMMERCIAL.

Timaru Herald, Volume XCVIII, 18 May 1925, Page 12

COMMERCIAL.

FAT STOCK PRICES. The following are present Canterbury prices for the next week’s kill' ings of fat lambs and sheep:— Woolly iambs.—First quality to 36ibs llid» 37 to 42ibs lid, over 421b3 10§d, second quality lid. Shorn lambs ljd per lb. less than above. Wethers—First quality to 501bs 7 id, 57 to 641bs 7*d, 66 to 721bs 6id, over 721bs s|d, second quality 6Jd. Ewes—tip to 641bs 6o to 721bs 4Jd over 721bs 33d.

TA’TTERSALL’S REPORT; The Canterbury Farmers’ Co-op. report holding their weekly horse sale on Friday, when an entry of twentythree horses of all sorts came forward. The attendance was large, and bidding was brisk throughout the sale. A complete clearance was made as follows :—Young draughts— £2l, £26, £27, £2B 10s, £34 ills, £36, d 241, to £43; 9 and’ 10-year-oids, £B, £l2 10s, £ls, 2 at £l6 10s, £lB 10s to £2O 10s. Harness horses £B, £lO 10s, 2 good sorts at £l6 lUs to £lB 10s; ponies £4 ss, £7 to £ls.

REVIEW OF THE SHARE

MARKET,

The week was not prolific in nii.uy 'vruiiaactuius in. stocks ana muuvS. ’ijic ueai/ii ana funeral of the mine Minister nave turned men's tnougnts Horn the, xtxcnanges u, matters or national importance. Tile outstanding feature of too market has been tne arming or bank shares.. Doubtless the reauction in the rate oi the British income tax has something to do with this. . The introduction 01 the gold standard will also tree many balances which were- held in London, and which could not be transferred to Australia and New Zealand owing to the high rate of exchange. The National Bank of New Zealand has already announced an increase in its capital which, with the premium to bo placed to the Reserve Fund, will enabn. it to have a million pounds additional to its three million to provide for its rapidly expanding business. Industrial concerns are not showing the samo expansion as are the financial houses, but there are not wanting signs that business with them is on a solid foundation. In the banking group Union of Australia liavo hud sales at £l4 10s and £l4 11s,. which is. a rise of 3s above last week; Bank of N.Z. sales at 56s 3d, with further buyers at that price. (New issue are about a shilling less.) Commercial of Australia are up to 28s 9d buyers, 30s sellers, Australasias are selling at £l4, the price they, reached before paying the last divi- ( dend. National of New Zealand have buyers cum rights at £7 Is, sellers not responding. Tire rights have been sold at 31s, which makes the new shares £6 11s. A dividend of 4s per share will probably-be paid, on, the old issue in July. National of Australasia have riseni : -to- I £TB ss. .with declared sellers at. £l6 10s. The five pound shares have buyers at £8 without sellers. New South Wales' have been transferred at £4l 7s 6d cum. dividend. Sellers are asking half a crown more.

Insurance scrip is firm and hard to get. Sales- of Nationals at 72s 6d cum. div. mark a return of confidence by investors. South British are .up a little, and are not obtainable at,-475. New Zealands were parted with at 32s 4d, the highest ligure for some time past. Standards are very steady, at 4is 3d.

In. shipping scrip business has ; not been bnsis. HuctUart Parker ordinary reached 44s bd; the preference issue changed hands at"2ok bd. Howard Howard Smith are easy-at 35s .-9d, without buyers quoting. Northern Steams are not in great demand, although 'they Jiad a satisfactory year's trading; sales of paids 15s 3d. In refrigerating shares a little business has been passing. Gears were sold at. 44,s 3d, and are wanted at about that figure. N.Z. Refrigerating contribs sold at 10s 2d and IQs, and are available at the last named price. Canterbury Meats remain unaltered. In brewery companies, Crowns arc still wanted at 3Hs 6d exdistribution. Mannings ex div. of 12£ per cent, are worth 36s 3d to 37s 6d. Wards are up to 59s 6d, with sellers at 61s 9d. N.Z. Debentures have freely changed hands at 225,, and the shares have had sales at 38s 3d. .

In gas the only transactions recorded are in Auckland paids at 23s lid. Christchurch are inquired for at £7 13s, with Is 6d more wanted. Timaru have a buyer at £7 2s (3d (seller £7 95.) Since the fall in wool there has not been so good an inquiry for loan and agency scrip.' Dalgetys cum. div. are lower; £ls 2s Cd to' £ls Bs. Goldsprougn Morts, sales 4tis, with buyers at 4(js Id; sellers 40s 9d. N.Z. and | raver Plate are not competed for at j als 9d. \V right Stephensons are slow i or sale at 2Ps; a buyer wants the 5J per cent, prels. at lbs 9d. Coal mining is neglected. Taupiris are soiling at about ISs cum. div. Westports are slightly stronger at 33s buyers, sellers sixpence more. The output this year shows an increase on that of the corresponding period of 1924. ’Wilson’s cement since the declaration of the dividend have not moved upwards. .Milburns are firmt.. 33s 9d to 34s 9d. More inquiry is apparent for rubber shares, Malay ordinary were sold at 16s, and Dominions have risen to 24s after sales at 23s 3d. "Woollens arc not actively sought for. MosgieUt are ex div., and are £5 lis 6d to £C 2s Cd. Kaiapoi ordinary are 12s lOd buyers, 13s 3d sellers. Profs are obtainable at tCs, and centrib. ni 5s Cd without response from buyers. Bruce are not in demand at 235. Donaghv’s Twine are asked for 32s but there are r» takers. N.Z. Express are up to par without a selling quotation; N.Z. Paper Mills are easy; 21s buyer, 22s seller cum. div. Colonial sugar sales £53 and t‘49 ss. In mining there ei no activity. Kawarau, winch so i a little while ago at 27s t'J. liave had sales at 19. and 18s Cd. Wa.dii.s sales 26s 3d. Taranaki oils are neglected. Ad viefrom New Plymouth is that ns Motoraa bore there was a good of oid at 930 feet. It was intended cement the casing and test the f.;:u for oil. Sales of Mount j..ye!l wer. recorded at 21k 4d, and Electro Zinc were quitted at 27s 3d. Government Bonds show a slight decline. Inscribed War Loan 5J pee cents are not free of fax : sain.- £9B. P.O. inscribed stock £9B ss. 1938 inscribed stock sales C9G 17s fid. Olt\ of Auckland Debentures (1940) wersold at £'os 5«. The h'hr istehu;■■■ Drainage Board has £.50.000, a second instalment of 5J debenture bonds on the market. DIVIDENDS. Wilson’s. Cement Company notify a dividend of Is fid per share—7J per cert, for the year. The Northern Steam Ship Company have declared a dividend of 8 per cent, for the year.