COMMERCIAL.

Timaru Herald, Volume CXXIII, 22 March 1926, Page 10

COMMERCIAL.

LONDON AVOOL SALES. By Cablo —Press Association —Copyright. Australian and N.Z. Cable Association. (Received March 2], 5.5 p.m.) ' LONDON, March 20. At the wool sales there was a good selection of buyers operating freely. New Zealand clip "Vink b>.H. brought l(s}d (top), 15)d (average). REVIICAA’ OF THE SHARE MARKET There was a fair amount of business transacted on the Excnanges during the past week. As has been usual for months, a great, many transactions took place in bank scrip. Insurance shares were also ireely bought. The prices of these stocks are extremely good. The inducement for investors is not the actual return, hut the stability of the companies as shown by their reserve funds, portions of which it is thought may be capitalised at a date in the near future. The Board of Inquiry appointed by the Government to report on the suitability of New Zealand coals foi the railways has recommended in extremely favourable terms (lie use of many of New Zealand coals. It is to be hoped that the Railway .Department will act on the* suggestion, and thus help ail industry that greatly needs assistance to make it payable, besides keeping large sums of money in this country that have formerly been sent to Australia. In the banking group, .New South AA’ales steadily appreciated till sales were made from £43 las to £44. They have receded to buyers £4 3 12s fid, sellers 5/- higher. Bank of New Zealand moved upwards to sales 5!)/9; present quotes are 5 9/7 and 59/S. National of New Zealand were quitted at up to £6 14s Gd, and remain linn in that neighbourhood. National of Australasia are strong at seventeen guineas for the fully pauls and £S 17s fid l'or the five pound shares. Commercial of Australia changed hands at 30/-. More are available at that figure, buyers offering threepence loss. Commercial of Sydney are wanted at £2 5 ss, but £2 6is required. Unions show little change; they were transferred at £l4 17s 6d, and £l4 ISs, and are sought at £l4 17s, with sellers at £l4 ISs. Australian Bank of Commerce had sales at 31/6 and 32/-, with inquiries at the first named price, and a seller at 31/9. AUctorias are slightly easier; £S Is fid is asked for the ordinary shares without buyers declaring; sales £S Is. Royals are not being dealt in, and quotations are unchanged. Australias are steady at £l4 7s. AVestern Australia have been offered at 54/9, without attracting a buying quote. Insurance scrip is in very good demand. New Zealands are wanted at 3S/G, with fourpence more asked by sellers. South British move steadily upwards, and have been transferred from 56/6 to 57/3, with further buyers at the latter figure. Nationals were sold at 7S/6; mare are wanted at the same price, with a seller at £4. Standards are rarely on the market, and 5 0/- is offered for them without eliciting a selling ■ quote. Queenslands are without buying Offers at 55/-. In the loan and agency group little business has been transacted. Dalgetys are on offer at £ls 19s, with a buyer at lialf-a-crown away. Goldsbrough Morts are very steady at from 4 7/- to 47/2. Now Zealand Loan and Mercantile ordinary slock has-a seller at £95, with buyers offering 30/- less. National Mortgages are 73/-, with a margin of 3/6 in sellers’ values. New Zealand and River Plate are up a little; 22/3 is offered without declared sellers. Perpetual Trustees have risen to 52/6 without sellers.

In shipping, there are few transactions. Huddart Parker’s ordinary are worth 45/7 to 45/11 cum div. The prel's. are wanted at sixpence premium. Union Steam jirefs. can bo placed at par, but none are offering. Northern Steam paids show no change; sales at 15/4. Howard Smiths are buyers at 33/6, sellers cighteenpenee bettor. P. and O. Deferred Stock is slow of sale; buyers offer £230, but £2O more is needed. In meal: preserving, Canterbury ordinary are asked l'or at £lO 12s fid, sellers .9/- higher. The prel's. are quoted at buyers £5, sellers 5/- better. Now Zealand Refrigerating cont.rihs. sold up to S/3. More cam be placed at that, but sellers are a penny higher. ' Gears are steady at about 4 0/-. AA’elliiiglon Meats five pound paid are without buyers at 25/-, and North Canterbury three pounds paid are available at 37/K. In coal mining, Westporfs had business at 34/-. Buyers and sellers are within threepence of that figure. A\ cstport-St.ockf.oii ordinary were sold at 1/6. More are wanted, sellcis asking half-a-crown. Preference are sixpence better. Gas shares are not very active. Christchurch sold at 2 4/-, and buyers are waiting to ie supplied at that, hut threepence more is required. AVellingLon sold 9 9/lV'’ f"/, Aucklaiul Piiids at . ' ~V' As.iburton are easier; SO/is offered, and 9 4/- is asked. Ti’Tfid G:IS CiUl l>e ol,taine(l at £7

Breweries lutve not eammamlert as nindi attention as usual. New Zea» landy were turned over at 55/-, aiu i

are inquired for at that price; a seller at 5 6/-. The debentures sell freely up r to . 25/11. Staples wore turned over at 37/3, and are sought at sixpence less. Mannings are steady at from 41/6 to 4 3/-. AVards ex distribution are in the vicinity of two pounds, with sales at that price. Timaru, which had a fairly good year, are available at 17/3 without buyers.

Rubbers are very firm. Malays are 4 5/- with no sellers. Dominions are from 56/6 to SS/6. The prospects of good prices l'or the products ol' these companies seems assured l'or some lime ahead. Cements are weaker. AVilson’s sold down to 36/-, Milburns are slow of sale at 33/-. New Zealand Guarantee Corporation had a sale at 9/3. Kemptliorne Prossers fully paid bad a sale at, 67/6; buyers and sellers are within sixpence of tnat price. New Zealand Fertiliser rose to sales 9S/-; buyers left at 9 6/- on a bare market. Donaghys Ropes were sold at 34/-; sellers left at. 35/-. "Otago Daily Times” have risen steadily to 81/6 without declared sellers. In AVoollens the market is lifeless, and prices are unchanged. Kaikorai trams declared a dividend of 10 per cent., besides adding to the reserves. Shares were in demand at 3 0/-. In mining- there has been a mild r ,ln ■» «t. Batlian’s Sluicing, an Oamuru Company, which has struck a L l , 1 lead. Sales were made up to 8s Premium, alter the shares were as low as Is l()d premium. Kawar.-ius rcmanj steady about (Is. AVaihis are a. I'ttle belter; sales 2,'is ,3d. The return or os capital has .been agreed to. Electrolytic zinc, profs, sold at 35s ‘-M Mount Lyeils are very steady; 25s 2d to 25s _sd is their value. An inquiry lor Nokomai Sluicing at 3s Gd remained unanswered.

In Government, bonds and local body debentures not .much' Was "done during' the week. 44 per cent. 1938 issue changed hands at £96; 54 per cents H)3J wore .sold at. 7s Gd discount; o per emit 1929 were transferred at £97 Ids; Auckland Harbour Board 4 per cent, brought £'B4 10s.

TATTEKSALL’S REPORT. The entry at Tattersalls on Friday comprised fifteen hoises, mostly aged draughts. The attendance was good, and the ’> |. de of tile yarding changed hands un-.'i- keen competition. The C.F.O.A. quote some of the prices obtained: Draughts £l2, £l4 £IG Ms 2 at £l7, £2O 10s, 2 at £25, to £27.' Harness horses £5 10s, £7, to £B. PROPERTIES ON DEFER. At their land sale looms on Friday, the New Zealand Loan Co. submitted to auction by instructions of the Ruble Irustee, larm ol -216 acres near Fun-lie. The propel ty was passed in unsold. The National Mortgage am! Agency Co., at their land sale rooms, offered at auction, on account of Mr L. J McGregor, his Cora Lynn estate of 8/i acres close to Fail-lie. Th© property did not find a buyer