COMMERCIAL.

Timaru Herald, Volume CXXIII, 29 March 1926, Page 7

COMMERCIAL.

CHICAGO WHEAT QUOTATIONS. By Cable —Press Association—Copyright. Australian nml N.Z. Cable Association. (Received March 27, 5.5 p.m.) LONDON, March 27. Chicago wheat—May (new) 160 3-8; old 159 1-8; July 137 5-8; September 1323 cents per bushel. COTTON, JUTE, RUBBER, ETC. By Cable:—Press Association—Copyright. Australian and N.Z. Cable Association. . (Received March 27, 5.5 p.m.) LONDON, March 27. Cotton April shipment 9.51 d per lb. Rubber —Para, 2SJd. Hemp March-May shipment £3S per lon. Jute. — March-April £4S 5s per ton. Copra March-April £2S 7s Gd per ton. Linseed oil £3l per ton! Turpentine—64/3 per cwt. MEAT PRICES. Sheep.-—North Island medium 6 1-S. Heavy 5 7-S. New Zealand ewes 41. Australian firsts 4 7-8 cl; seconds 41. Lambs, Canterbury heavy, 9 7-S; North Island firsts, 91; seconds 8 7-S. Australians firsts, Victorian, S 1-S; others 7 7-8; seconds, Victorian, 7:]; others 7 5-S; thirds 7 5-S. Argentine firsts, light, Del; medium Sd; seconds 7i. Chilled . beef. —Argentine fores 33d; hinds 6.). Uruguay fores 31; hinds 51; others unchanged. LONDON WOOL SALES. The National Mortgage and Agency Co. report having received (ho following cable from their London Office;— The auctions closed firm, with buyers operating freely and good competition. Compared with the opening rates we quote:—Greasy merino no change; J-bred, 50-s G’s Jd dearer, x-brod 4S-50s Id dearer other classes no change; scoured crossbred do., scoured merino Id to 2d dearer. Siipe wools are selling irregularly, particularly siipe J-bred lamb.”

HOME MARKETS. BUTTER, By Cable —Press Association—Copyright. Acjtrnliuu anti N.Z. Cable .Asiiodct.on, 'LONDON, March 25. Butter is firm and steady. New Zealand, cho-icesl, salted ami unsalted 174 s 'to 17Gs. Australian ditto 170 s to 1725, Danish 18os. The decline is due to the increasing production. CHEESE. ' Cheese is quiet; New Zealand white SGs to 975, • coloured !J7s to 98s: Australian, coloured Otis to ( J7s. SUGAR. Granulated 28s did. WOOL. The wool sales have closed. The tone was cheerful and confident. Competition throughout was satisfactory and widespread, except from the United■ States which only took about ' 17500 halos. Compared with the January closing prices merinos and greasy were par tp 5 per cent advance; scoured was difficult, of sale, and many bales wore withdrawn owing to die high reserves. Crossbreds, finest, wore 5 per cent advance. All other grades wore slightly easier.. Lambs and cro?i'hfetls were slightly dearer. Merinos were irregular and occasionally in buyers’ favour. New Zealand brands; Waieri lod to 16tl. Brookland.s 1-l -RE to IGd. The Bradford market is s’ew and business difficult. Topmnkor.s quotations are firm. Crossbreds are a shade easier. HIDES. The hides sales quotations are nominally unchanged. SHEKPSKTNS. At the .'ales there was a moderate selection and fair general competition. ' Merinos and .line crossbreds were par I to 5 per cent above February. Alodium crossbreds were unchanged. Lambs wore 5 per cent above. FLOUR. F'onr is steady; Australian ex store 420 9d. (UTS Oats are tending firmer. REAS AND BEANS. Peas are steady. Beans are easier.

METALS. Copper. LAB 3s 9d and ,E:9 3s ,9d. Lead, £3O 17s (id and £3l os. Spelter, £33 2s (id and £33 7s Gd. Tin, £278 17.:. Gd and £279 17s Gd. Silver, standard, 30 3-10 d, fine, 32 9-Kid. CHICAGO WHEAT QUOTATIONS. Australian and N.Z. Cable Association. By Cabli Press Association —Copyright. (Received 5.5 p.m., March 29.) •NEW YORK, March 26. May (new) 160 cents; old 159; July 13S 7-S; September 13 3J cents per bushel. REVIEW OE THE SHARK MARKET. 'file business done during the week was very .satisfactory both in regard to volume ami pr.ee. .It there is to be a, fall in prices during (he. coming year, as is tile general opinion o( many financial men, there is little sign of its approach, 'file shares in banking, financial and insurance companies seem to halt little in the.r gradual upward March. Not only is that so, but it is extremely difficult to get hold of some of the best investment shares. In many cases these have been held lor years, and only rarely, do they come on to the market. Thu few shares floating about do not tend to lessen the, keen demand. That this 1 tendency to invest in debentures and shares makes it difficult to obtain money on mortgage is undeniable. f lhe bulls ol the funds of the big insurance cor-porations, which were at one time, iarge lenders on freehold securities, are now invested in Government and local body debentures. The Government, by lending large sums through various departments, has taken the place of the private mort‘Tiim hanking group, New Zealand brought tills 3d. at winch figure many sales took place. .Buyers are ’.vailing to be supplied at that price, holders asking sixpence more. Ln.ons were about even with last week's quotes, and sold

at £M 18s Gd; buyers offering to continue, sellers threepence higher. Australasias are not so keenly sought after as they were, and arc offered at £1.4 7s Gd. Commercial of Australia, rea’esed 3()s, and are a little firmer; buyers offering 30s 3d without response from holders. The pref. 4 _per cent .stock is liigliei—-buyers £(> 17s, sellers £7. New .South Wales are steady buyers £-13. 12s Gd, sellers £J4. .Sales were made at up to £.ll 2s Gd. National of New Zealand arc £0 14s 3d to £6 15, sales £6 14s fid. Several transfers were made of National ol Australasia ten pound shares at £l7 18s. 1 lie five pound issue is wanted at £8 17s Gd. sellers asking one shilling more. Bank of Victoria are about the same as last week, with sales, at £8 and C 8 Is. Buyers now oiler £8 Is Gd ; sellers lime pence higher. A.B.C. Bank have buyers at 32s Gd, sellers 335. Mcr-tern Australians arc not so strong, and are quoted from 51s to 555, with sales at the former price. On the Loudon Exchange Australasias’ are £l3 8s 9d; Unions £l4. 8y !M; National of N.Z. £8 IGs 3d; National of Australasia £8 15s; New Zealand 57s Gd. . Insurance scrip keeps moving prrnduallv upward. NaLonu's are traiislerrod at' 795, with further buyers at that price, and holders asking one shilling more. Bo nth British were quitted at up to 57s Gd, with buyers at 575, and a bare market. No.w. Zeal'iinds are wanted at 39s 2d, but 40s. is required. Standards are inquired- for at.oOs, but 53s Gd is the best seller.',, Queensiands av-e offered at 555, but" do not attract a, buyer. United have a buyer at £l2 15s, but sellers are retieeiit. Several sab’s of Guldsbrough Morts at up to -18 s 3d were recorded ; and fur-, tlier buyers offer 48s Id without result.. Dalgetvs are in ' request at fifteen guineas, hut ten shil'ings more is asked. N.Z. Loan nml Aleirantila are asked for at £93 10s;. £95 is the seller’s f-giiro. The same price is quoted on the London Exchange. National Mortgage are offered without attracting a. seller ;Vt 7Gs. The shares oil the London Register can be got for eighteen pence less. N.Z. and River Plate are stronger; buyers oiler 22s without response from sellers. There is pool- demand for shipping shares. J.hidda.rt Parkers ordinary arc wanted at Els 3d, with, holders asking ninepenee more. The pvels are offered at a shilling premium, hut buyers are only prepared to give a penny prem. Howard Smiths cum. div. can be hough! at .‘Ms 9d, but fifteen ponce lens is the best buyer. Union Steam o£ per cent, profs, are wanted at par. Dcvonport Steams realised 275. A very keen demand exists for ’Westport Con's. Several parcels changed hands at from 34s 9;! to 35s 3d. Sellers raised their price to 3Gs, buyers offering 35s Gd. Westport Stockton profs. are wanted at 2s !)d : rollers 3s. The ordinary arc in the mail; t at 2s -Id.

Little- is doing in meat prer.prv.ng. The contribs. of N.Z. .Rel isgerating brought & Id, and more can be Inn! at, that money, with buyers a penny less. Canterbury Mont ordinary can be bought at lit 5s without demand. Gears are steady in the vicinity ol -ids. In breweries Lhe market is a little brighter. New Zealands recovered _to sales at 5Gs, with a. buver olfering 50s :;d, ‘■•oilers asking 50s 6d. Staple, sold at 28s. and ,C2 is asked IV.r them, witn an ofi'er to buy at ba.ll' a crown less. .Mannings changed bauds at 42s Od; more can be had at that price, but two guineas is best oiler. A\ arJs are ex distribution, and are inquired for at •H)s; 'udders asking ha'f a crown more. Crowns are wanted at a pound, without result. Timaru lias declared the usual dividend,, and shares are oilered at 17s without buyers. New Zealand ■debentures sold freely at 2(?s Id. There is poor demand for shares in tras companies. There are numerous M-|leiv imt lew buvers. Auckland pa ids brought 22: lid, and tlm •ontnbs Bs. Christchurch are steady from f-.is to 21s: Ase.br,rtons are very slow ol sale at lid- Timaru Gas have no inquiries at £‘7 2s Od. _ _ ' Little inquiry exists for cements. Wilsons have eased to libs. Milburn., to 22.., without buyers. N.Z. Drugs old issue have been parted with at 68s. The fully paid new issue is wan ted at 58s Od. and the contribs at 8s 6d. without reply from holders. N.Z. Kni-meis Kei tiliser are easier; buyers oiler 9-ls, sellers s i: k fISs. Dominion Rubber ex div. of 2s are asked fer at 51s (id, but 2s more is required. N.Z. Malays are stronger at -ids to *L s Od, ex div ol two shillings. Woollens are .slightly tirnnu 1 . Mosgiels are wanted at £5 18s, lull •there :ire no sellers. Bruce are from 21s to 215 k. Wel'ineten profs, and the ordinary can both he placed at very near £O, hut holders are reticent. Otago Daily Times has a buyer at 82s. and'a seller at four guineas. Whitcombe and Tombs are on the market at 70s. without attracting a buyer. The mild boom in St. Bathnus shares shows signs of weakening. After reaching I ts, sales have been nv.de down to with an easing tendency. Kawrrau.s had a few sales at (is. WaiIds were transferred at 225. Taranaki O’ls have fallen to Bs. The results obtained from Du- bores wen- not so good as the optimists Imped. Llectrolytic .Zinc.: have improved, the profs, are no to 20- 1 2d hu'-ers. and the ordinary R-L M. Mount Lyi'l’s remain firm at 25s Cd. ’ . Government Ttomls remain fdinoyt stationary. Kive per rents. 1925 . brought C9B: 5! per cent. inscribed stock realised £97 10s; Soldiers' Deeds 1922 (ivg and a half per cents, sold lor (TP 1.2 s (id. WellinMon Citv debentures 5.1- per cent, raseged bands at £97. The -H pm' emits. 1923 and 1929. iesues are steady at £9!i.

COMMKRCTIL BANK OV AUSTRALIA. The New Zealand .••’nay' ' ' "s u d’ Bank received notice this work tiiai

the 382,158 ordinary sharers of 10s eatu offered to the shareholders, had been allotted. All who applied had tluu quota allotted in I’-dh .1 hose u i *1 plied for the shares not taken pu h‘.« a pro))urtion granted to them <> in fortv of the number applied loi. It will thus he seen Hint the issue was largely over subscribed. BUOAVN. EWING AND COA*. The directors on AI arch 9, oeclnreci fig. usual interim half-yearly dividend of 3 per cent, on pref. shares, and 4 per cent, on ordinary shares.