THE MARKET REVIEWED.

Auckland Star, Volume LIII, Issue 190, 12 August 1922, Page 8

THE MARKET REVIEWED.

GOVERNMENT WAR LOANS FIRMER, j Since last review there has been steady j improvement in the demand for Government War Loan, as well as various debenture stocks. This is probably due to the Met that less monqy Is being lent on mortgage and tbe eapltal is lielng Invested ln debentures aud other stocks that pay fair iute'rest at present prices. During the 12 months fromi July to JUue 1921-22, there • \f*S a decided shrinkage In mortgages. The total for that year was £20.701,340,' as compared with i'UO.DUO.J-a. for the previous 12 I mpnths, which gives the enormous decrease of _31.1U8.851>. In the three months to .Tune :;o, .:»___:, the amount lent on .mortgage in the North Island totalled £4,i!07,Mp, aud iv the South Islam! £i.BS4,SW_. During the 12 months ended Juhe 30, 1022. the mortgages discharged totalled £11,701,85>2. as compared with £25,152.0__3 Apparently there is l-idlspositlon on the part of those with money to lend on mortgage, which • is probably due to a fear that property values may decline. Of course, if money ; Is not locked up in mortgages, it has to * be Invested elsewhere, for' capital never lies idle lone. Auckland Gas Cl per ceut debentures eoiil'd now be placed at 20' premium. :i ' Hsg of 10/ twr the week. Harbour Board 6"per ceut are wanted at 10.' preknlutai. asflille Auckland City ."1 ceul arc iv reqitest at £!>_:. Buyers offered par for Ma'cfcy. Logan'debentures during the week, but no seller (tooted. Banking Corporation stock had regular buyers' and Nationals were placed' at £i IS/;.. iyiiilc New Zealand ad T t.nced to •ales at .%4/(|. The selling rate df Bjihk of Australasia eased oue. shilling, but Unions are 111 request at £12 1,/. n'lth no 'sellers quoting. r Gpvernmeiit War Loan stocks firmed in price. MX being' paid for the ifwo Issue. and £l£ 3/ fir the IIKS. Buyers' offered yesterday aflernodu £9G 2/G and £CB foi" the respective issues at 41 per' cerit'freej of Income tax. Sales of • Soldiers" Loan I took place at the third call' yesterday at 1 -EDS. Tbe various .. 'per cent Issues* •keie I ID request at £05, but Po sales took place tt that figure. [ ' "Hitfldnrt Parker steam sold this week up to 48/ and Devonport 'Ferry'at -■¥/s'.' an a'ff-1 Janee In each case. Kempthpriic PrpsSer f riig shares sold at 33/. and AucVlktid I Trains, ordinary is>ue," at IS/. Eurtner I transactions topk place lv W.lsao?. t'euient it Is/10. and buyers of PatSer L*it_l. timber aj|van'ccd 'their offers t*i iii/Q. Msioc and Choyce shares denied tjiis' iy.gek. Sales Of New Zealand "Ibslirauce' took blac'e at *'. and of Soti.h' British at .'tgA' while Standards were offered at :<2.'. Buyers time lh for National Timber ot 11/.'but ■ellers ' asked 'Spf./.'" L.OB. TJlubipr \ii.\ ifeady buyers at Xi/H. Transactions took *' lace this wqek in Waihi shared at 20/ and .'■l>. Talisman liquidators declared a BhAI dividend this tettik: ' Tt\e amoiiqi is'lHd, i making a total off 7/llj per share. Tjio amount reimbursed to shareholders will I thus he £130.1.21 17/ G. ' JJ FROZEN MEAT. rne Bank of Xew~*__eulaud hove reMlted the follo-vrinj cable from London \ dated August "4.— Frozen Meat.—Tliere is a moderate demand for small mutton, but poor demand for large mutton. Lamb markc;.' quljt hut -lrm. 'with present si_(tjSlt<_s sufficient to mcc. v demand. Beef unchanged. Wethers, light 5Jd to 7d per lb, lMJnvj. 5d to sjd per lh: eiyes 43-d to 3d per lb; lambs lQ'fd to Hid per lb: lambs, seconds lOd to 2<tyi yer lb. V LAND SALE. R. C. Carr and Sons, auctioneers, sold In the ostule of the late Daniel Qascoynu. SOacres at Ob|wa, Waiotitlii Parish for cop. Another section on? rood In area »Bd subject to slight Inundation by tb« *&» WA« knocked down at £7 If)/. ' A section T W rtlSi* K .?- d - °tahuhli. with n frontage * fi ?*?*• sold tor £20,0. *