AUCKLAND SHAREMARKET.

Auckland Star, Volume LX, Issue 52, 2 March 1929, Page 4

AUCKLAND SHAREMARKET.

TRANSACTIONS ON 'CHANGE. Pukemiro Collieries sold again at £3 7/6 this morning. The preference issue of Hikurangi Coal were also placed at 5/6, Taranaki Oil shares recovered a little, sales being made at 5/4. Kauri Timber shares were offered at 17/, but buyers offered a shilling less. Waihi shares were asked for at 13/. The sellers, however, wanted another Sd. Subsequent to the call, sales were reported of Australian Iron and Steel preference issue at £1 0/6. Milne and Choyce (debenture) at £1 6/6. and Renown Collieries at 17/3.

CALL AND DIVIDEND I.IST. Dlvs. Due. Huddart-Parker (pref.), 3 p.c Mar. 16 Huddart-Parker <ord.l. 3 p.c Mar. 16 Bank of Australasia—7/ per share Mar. 22 -

THE AUCKLAND STAR, SAT FINANCE, COMMERCE AND MARKETS world'S WOOL CLIPS. AUCKLAND SHAREMARKET. THE WEEK REVIEWED. THE MONEY MARKET. 0N TH L^ REASE TRANSACTIONS ON 'CHANGE. WILL DEMAND KEEP PACE? DECLINE IN WAIHI SHARES. L0CAL BORROWING. I Following oa severa years of increasing | preference' issue J values graziers in .all sheep raising coun- . r , 6 * V e/c MANUFACTURERS' VIEWS. tries have b e e„ encouraged to aogne.t g"„"kf „Tove"d a U.) ~ their flocks, and the question is raised , . „i- sj/a Kauri Timber INSURANCE AND BANKS The desirability of the Government and whether demand will keep pace with the share8 offered at ' n/> but buyers SELLING. the local authorities raising as many loans in ~ a .®. supplies.. offered a shilling less. Waihi shares were as possible in the New Zealand market Wntmg from Sydncv on January ie | seUers howev was stressed by Mr. F. Campbell fpresi- Wmchcombe Carson Ltd .. said. At one another „ Ac CLJ . -en a am dent) at the New Zealand Manufacturers' p . eI10tl nn i v Subsequent to the call, sales were GAS SHARES IN DEMAND. Conference in Wellington. ™ onn'non" L a B, oa t extent had reported of Australian Iron and Steel The necessity of having to borrow on 36,209,000. Cattle to a great e te * preference issue at £1 0/6. Milne and the outside market and take the money replaced sheep. ® ut ' 11 ®. , , Choyce (debenture) at £1 6/6. and LOAN AND MERCANTILE ADVANCE, by way of goods was one of the manu- countries, the generally satisfactory- level Renown Collieries at 17/3. facturers' greatest difficulties, declared of wo ° l \ a] " es OVG F - th , e F Mr. Campbell. "You can't have it both encouraged the wool industry .Production BUSINESS DONE. _ . . , . wavs " he said "There h is been some t ilk of the staple m that country in 1924 was Business ban not been quite so good of a> a a ' ]o( £f J"*™- wein Wellington 280,000,0001b. The latest figures show a during the past week, but generally speak- could dl . att a 'statement on the question production of 331,000,0001b. Only about Id AT THE 3.15 P.M. CALL YESTERDAY — ing sellers maintained a firm attitude, of raising loans for submission to the Per cent of that quantity is Merino. Sine Auckland Gas (£1/4/7) p r i me Minister " crossbred comprises 29 per cent, medium Devonport Ferry (£1/4/1*1 showing no disposition to quote down in A de * ]egate objected that all the local crossbred 25 per cent, and coarse cross- Northern Steam order to quit lines. An exception to this, bodies were raising loans in New Zealand i 5led 31 P er C€ ' Argentine wool is, there- Wailil (15/1) however, was the Waihi shares, of which and depleting the money market. no \ ;l he Aus- Kuala Kampar Tin (15/1) l irtre numbers have been sold durine the The President: A lot of money is tra,latl staple. But that tendency to in- AT THE 9 30 A M CALL fO-DAY— ge numbers have been sold during the invc8 ted outside New Zealand that cre f e w ° o1 Production is mildly m Taranaki 0 il 5/4 p r 8 t f^rt^1 ht - V ,e .. bulk u' t 8ales T ere could possibly be used here. Jt is a matter evulen^ 0 In " ,os + t , countries, and has been H ikurangi Coal (pref.) 5/6 f 13/^^" + t y to t /1 business was done on which inion , s divided> We were told since 1922 In that year the world grew Pukc miro Coal £3/7/6 from 13/3 to 13/1. after which 13/2 was tt ckarly that the Government had 2-^0, 000,0001b, and at the latest dates paid. Kuala Kampar Lin shares sold at been givet< a broad hlnt that it would be 3,100,000,0001b, an increase of 16 per cent. BANKS _ SeUei . s . Buyers . 15/? pnor to payment ot the dividend. Ex better to raise loans for certain purposes The cheering part of the development is AustraUan Commercc _ .. 1/15/S dividend sales took place yesterday at in New Zealand< Whether we can press ! bat despite the advance in wool produc- XustraiasUl 15/2/6 .. 14/18/0 w 1 t iV i advance took P' a ce ln our claims on the Government and suggest n ' , le sta P' e 15 leahsing.is much Commercial 1/0/1 •- 1/0/0 Mount Lyell shares, up to £2 4/ being that a ood percenter should be rawed ,noney to-day as it was in 1922-23, when Commercial (pref.) ... — .. 7/5/0 paid. Ohinemuri Mines also changed hands locallv is a matter tor'von to <WiHe " production was so low. In that year the N.Z. National — .. i/5/0 at 8/5. iocau> is matter lor you to decide averaRe price per bale in Sydney was £23 National Aust. (cont.) 9/14/0 .. - Business wasi done in Hayward's Pic- i£ "we "can't borrow the ' money in the 5/9. To date this season it is £23 3/1, the lealand' ff.' °3/3/9 3/3/3 * r jjifn/« i» a 1D - ii « C j U ?o/ country we ought to go without it discrepancy showing being to some N?Z. D Mortgage (£1 pd.) — .. 1/8/0 at £1 0/6. Buyers occasionally offered 12/ altogether. (Laughter ) ex ™, due to Jl^hter ba ' es - , Union of Australia .. 15/10/0 .. — for National Pictures, but no seller quoted. The president said it would be appre- f Tlle most amazin g P ha f e of the main- IKSURANCE _ New Zealand Farmers Fertiliser shares ciated if the -presidents of the assoriit/ion<» tenance is that over those years the 11 t>u f? „ . , , „ . c ..gain sold at £1 0/6, and Farmers Trading wouId consider the matter and let him of wool used by women has stead- xaUonif" . — b "1<5/1 B preference issue were placed at 13/. have their views on it. It was a vital !• ! dec-teased. The cashmere and similar xew Zealand 2/7/:? .. 2/6/9 Santord ordinary shares sold at 18/, and question to manufacturers taoncs in which the women of years ago Queensland ;VT>A» .. -3/8/0 for the preference issue buyers advanced were dressed have passed out of fashion. South British — .. 3/5/0 their offer to 19/. Wilsons cment eased S° have women's woollen hose. Men have OTW , V /, TiI in price, sales being made at CI 19/9, at FOHEIGN EXCHANGES. been largely faithful to the sheep's pro- n-m which figure there was still a buyer. New , duct, and it is to a large degree their nniwiTnnd i'if 1 — " 15/10/0 Zealand Breweries had sales once more trade which is responsible for present-day Farmers' Auctioneering — .! 2/15/0 at £2 18/, and the debenture issue sold RUGBY. February *JS. wool demand. Special trade in sports wear Farmers' Auc. (A pref.)" — .. l</3 at £1 6/4. Perdriau Rubber were in- Foreign exchanges on London to-day, goods has also contributed. Goldsbrough, Mort ... 2/13/0 — quired for yesterday at £1 17/ for the compared with rates previously quoted:— What the Future Holds. River Plate 1'14/!) l/13/O •hare., aod *1 7/ tor th«,10/.paid,»ue. <W» for the di.t.ut future is W%% Blenheim Oil shares had occasional bujeis whether, if the world's chip continues to i'Oan and Merc, (pre.f.) -- .. SO/O/O at „ £2 l 5/ J/ ft and Tara f ? akl °' ,field \ a ; te i; 4 S7| ' 4.87S 4Stii increase, values will be maintained. N.A. Farmers' (B pref.) l./O 8/0 selling at 4/6, were afterwards wanted at y ork (doI . to Fashion, of course, may change wome. s COALip. j , , , . „ i) 4.85°/1# 4.So 3 /s- 4.866 clothing. But up to the present the Hllmrjin?! <nref> 7/6 4/0 The demand for shares in woollen com- Brussels (belga to „ advancing use o£ wool in the East must H kumn| A pref.)'!! 5/6 1/6 V™'* 1 ' 11 continues, and buyers of f) . ......... ..4.0.>o 35 be credited foi . tbe absorption of thc pikemiro ............ 3/10/0 .. 3/7/0 Wellington preference issue advanced L a "v h olm (kr } to world's increased wool supply of the la*t Renown 18/0 .. 17/0 theu-oflerg to £, 6/ yesterday, Devon- Stockholm (kr. to 18.159 few years, and the maintenance of values Kenown (pref.) - •• 2/W port Ferry shares sold at £1 4/1%, and 0glo (kr tQ f) __ lgl9 1S; . 0 1&159 on payable levels. No person can say what Tniioir} (rlrpf) - " 1/3/3 Huddart-Parker Steam were placed at £2 Copenhagen (kr. to development will occur in Eastern coun-1 waina 12/6" - (»/9 Northern Steam had sales at W6, £) I8.20 18.JO 18.15!) tries. Japan's manufacturing growth has Westportl/13/O .! 1/12/0 at 0/1L %& a ( £?io% £) . 02-65 Stockton ... 3/0.. 2/3 sellers at 17/6. New Zealand Loan and Cal (pence to goods. Latterly her economic life has been G *\ S ~. lnd n/(> 1/4/ . 8 in" iSL ' disrupted, but that disruption may be the Auckland (cont) V/.V: 18/8 17/10 Vv-sterday at £127, an advance of 20/. t0 yen ) 2J| 221 forerunner of a vast change. It will onlv Birkenhead 16/0 .. — Dalgety, Ltd., could be placed at £15 10/, Hongkong (pence be history repeating itself if it is the Gisborne — .. 10/0 and Abraham Williams preference issue to dol.) 233 23j • dawn of a marked alteration in her mode Thames 10/0 .. — are wanted at £4 7/6. Batavia (fl. to £) 12.lt> lJ.lo 12.1 0 f living. She has the resmirr» a „. DO ui, Gas shares had more attention this week. Prague (kr. to £) 163i 163| -4.02 tj re j ess working energy to'develon SHIPPING— Auckland Gas sold up to £1 4/7, and All quotations are for cable transfers. marvellously. Ten to twentv vears Devonport Ferry 1/4/3 .. 1/4/0 during the week Gisborne Gas sold at •Determined ou tne price of silver. she mav be usinfi: wool freelv and if Howard Smith, Ltd... 1/7/0 .. — 10/3, and Napier Gas (£10 paid) at £10 is Australia must be one of her chief Haddim, Parker (ord.) 2/./0 .. — a/. Taupiri Coal shares are a little firmer, op Alt] iun PRnDIIPE sources of supply. P°an"o Deferred 3/4/6 — being wanted at £16/, while for the GRAIN AND rnOJUUt. The argument that wool prices must go Union Steam (pref.) l/l/O !.* 1/0/6 preference issue £1 3/3 could be got. down appreciably if supplies increase mav Renown Collieries eased in price, sales CANTERBURY MARKETS. consequently have the ground knocked TIMBER — being made at 17/3. The preference issue from under it. We would not attempt to Kauri Timber 17/0 .. 16/6 (2/6 paid) had several transactions a t2/n. CHRISTCHURCH Friday. what the distant future holds I-O'B 1/14/6.. - More business was done in insurance LHKi»luu.UiiL.n, r a j. g ut We do not ig „j 00my £ t . National 9/6 .. — shares this week. New Zealand sold at No change is reported in the wheat gale of the staple. So far as the current Parker ' Lamb 19/0 " ~ £2 7 , and Nationals at 16/2 and 16/3. market. Occasional lines are being pin- clip is concerned, indications all nmr.+ Queensland Insurance sold up to £3 8/6, chased by millers at 5/7 to 5/7%, on trucks, its ready sale at rates m the vicinitv S W00LLEN - and South British had steady demand at for Tuscan, and 6/ for Hunters. A good recent figures. Kaiapoi (ord.) — 14/3 £3 5/, with no quoted sellers. deal of wheat is going into store. Fowl Kaiapoi (cont.) — .. 4/3 Banking shares continue popular with w-heat is quoted at o/lVi, on trucks, for ~ Kaiapoi (pref.) — .. 15/0 investors. Commercial Bank of Austra- prompt, and 5/8 for forward. CCll niwr OTnpiy o Al C bri'wprti-s lasia shares sold at £1 9/, and buyers of Oats are meeting with a weak demand. CILUIWU O I Ul/K oALt. T E the preference issue advanced their offers A grade Gartons are quoted at 3/3V2 to r Tinnes ?nref > " " to £7 6/. New Zealand National Bank 3/4, f.o.b., s.i., and B's at S/0V4 to 3/1 for T Plo-r-.nh_P™„ a ■ .. , KZ B?ewDrl?s 2/Ts o" "/17/6 shares sold at £7 5/, at which rate there spread delivery, equal to 2/8 and 2/5 on r ® ,p Pre. s Association.) Tooth's Brewery — .. 2/15/0i wer« still buyers. Bank of New Zealand trucks. Algerians are worth 2/3 to 2/6, FEILDING, Friday. shares had sales at £3 3/9, and National on trucks. At the low prices farmers are There was a heavy yardinc of 18 000 fn MISCELLANEOUS— Bank of Australasia were placed at £19 not offering freely. 2 0,000 sheep at th* Fei'ldinir stoek JlTanrl Amusement Park .... 4/0 .. _ 8/6. Bank of New South Wales, ex div., Chaff is dull, and has sold at £5 of, th t itl , g , bllt " Amusement Park (pref.) 16/0 .. — are now offered at £51 10/. f.o.b., s.i., or about £3 10/ on trucks. duced prices One ev u „f 91 t T oil# * T /0 A Better prices are offered for some Some good barley returns are being re- ewes f i) annevirke with good boSe Aust lron and Steel ' f " _/ / public body debentures. Mount Eden 5% corded but growers outside those who con- and condHjon so]d Good 4 and \ <P r «f ) - 1/0/3 per cent could now be placed at £102 10/, tracted are not receiving a very satis- year , '„ • "V™ an ® ° British Tobacco 2 9/0 .. 2/8/0 and for the 6 per cent £103 is offered, factory price. It ranges up to 3/9 on * 37/2 t a^ c " p ° Z 1 ' b est 2-tooth Burns, Philp and'Co.' .2/8/0 That price was also obtainable yesterdav trucks. Most of the contract barley was 2 4 L ™,' (^, Cr0 , ft ,' ~ " afternoon for Devonport, Hamilton, and on a basis of 4/3 to 4/6 a bushel. 4 " " ;. 7 * 2o/ to 2f>/; V* 0101^ 1 S^ a f ~ " 39 < 1 ? 0 Aiickland Harbour Board 6 per cent Peas coming to hand are of very indif- 24 / 7 to 26/8 - 28*/lT bllck DoSlnton PlrtutoT (pref.) - 1/1/6 debentures. Auckland Harbour Board 5 ferent quality, only a small proportion of f woolly lambs 17/4 t n In q! Donaghy's Rope ..... - .. 1/13/0 per cent sold at £09, and 514 per cent at the earlier offerings being up to grade. ]amb ic/ to lR/i- 11 °" Electrolytic Zinc — .. l/15/O £99 10/, par being offered for the 5% per Yields are also on the disappointing side. No is/in'.' PW e Inmh/ Wi- o / n 8 /, to Electro. Zinc (pref.) .. 1/17/0 .. 1/10/0 cent issue. The 4% per cent War Loan crop was affected by the heavy rains early 25 ', „ 7/s T P®' 2_t °oth wethers, Farmers'Trauing .... »/o . 8/6 maturing in 1830, sold at £99 but for i Q the year as was the pea crop. Values q ■ cattle market was un- larmers. Trad. (A pref.) li/0 .. 16/!.) the Soldiers' 5*6 per cent Loan *£101 and remain at 5/3 to 5/6 a bushel 011 trucks. g , to P'' i J'fi"i? .Terfle y heifers made £4 Gear'Meat F Ltd PC ** — £101 5/ has been offered, while both issues There is no inquiry from Home, but the 2/6- weaner £2 fn S f f Orey and Mensies".'!! 10/6 of the Government 5Vi per cent Loan market there is reported to be firm. ct P I ra Tk7 TV 17/; store Hayward's Pictures .. 1/1/0 .. 1,0/0 could be placed at £101 10/. Akaroa cocksfoot is selling at 8cl, and a ,„/. neiters, £4; weaner Henry Jones, Ltd. . .. — .. 1/17/3 halfpenny more is being paid for excep- . ; f ' ' J' , c ®" s ' '° £4 2/; fat Theatre Arcade (ord.l — .. 2/10/0 tional quality. Machine-dressed is quoted el ers ' to £9 17/6; bullocks, £13; fat Theatre Arcade (pref.) — .. l/l/O at I/O 1 ! Perennial and ItP 1 in l-veirraHs co l vs ' £4 7/6 to £8 15/; bulls £4 tn Kempthome, Prosser.. — .. 3/14/0 rnUPAIIY ACCAIDC ' u f i anfl t / . ? £S 15/ ' to Lewis Eady, Ltd. (pref.) 19/3 .. — UUMrANT ArrAIKo. are unchanged, being quoted at 4/6 and '' Milne, Choyce, Ltd... — .. J/C/0 3/6 to 3/9, respectively for farmers' Milne, Choyce (pref.).. - .. 1/6/0 dressed. . . Milne. Choyce (deb.).. 17/0 .. 1/6/3 HIKURANQI COAL. Potatoes retain the firmer tone men- FLAX GROWING INDUSTRY N.Z. Farmers'Fertiliser 1/0/0 .. 1/0/C tioned in the mid-week, though values " R i "" is'-u " 7/a A NEW VENTURE. are not moving to any extent. Some busi- Rotlnson lee C?eam ' * - " 1/V5 ness has been done for March-April at £5. FEBRUARY RETURNS. Sanford, Ltd 18/0 .*.* 17/0 WHANG A RET thU ,lav f.o.b., s.i., but sellers now want £5 2/6. Sanford, Ltd. (pref.).. 1/0/6 .. 19/0 , r , ' July-September have been sold at £6. A The returns of flix irrarlert ,t +1, a i Sharland and Co — .. 1/0/4 The new mine in front of the Hiku- few inquiries have co.ne from Auckland for / l n graded at the Auck- sharland and Co. (pref.) — .. 1/0/6 rangi School, on which work was com- March delivery Values on trucks remain 1 f 8 to, ow the trend that lias now Taranaki Oil Fields .. 5/4 .. 4/6 menced a fortnight ago by Messrs. at *? 12/« t!7 on trucks remain been evident for some months, quantities Union Oil — .. 2/1/0 Nesbitt's party, is rapidly coming into Onions are inclined to be weak TV. a u' 61 " 8 con !P a ratively small. The quality, w!', l " om f: Stex " 0ns0n - .. 2/4/<> top of the seam was/eached crop J Scho^v" 1 >Vl,80ns Cement 2/0 # on Wednesday, the vertical depth being j s 0 f an excellent aualitv Hhin mn i. T" " hch , o!la >- reports that a con- MIXING— 20ft, and the length of the drive 55ft, a quoted at £4 10/ to £4 15/ siderable period has elapsed since good Alburnia . - 0 5* great tleal nearer than was expected. The air hemp in any quantity lias been pro- Lucky Shot (p.u!) V.V.V 2 0 . ." 0/9 coal is illy of good quality, and the ~ duced by Auckland millers. In February Maoriland 6/6 — party hope ;<> be well rewarded for their HIDE*i AND Clf I|UC bales passed this standard. This Occidental Una (2/ pd.) — .. 0/3 enterprise. M u orvilio. grade is readily absorbed by users abroad. Occidental Una tcont.) 0/3$ .. 0/1 i who speak well of its quality. Vvnihi mUri MlDCS 1V5 " * ivo WEST COAST PINES (FIJI). PRICES AT WELLINGTON. f e the returns for las-. Waihi Grand Junction I/O - month, the figures for February, 1928, Mount Lyell 2/4/3 .. 2/3/6 ...... being in parentheses:— Kuala Kampar Tin.... 15/6 .. 13/1 Attention is drawn to the prospectus The fortnightly sale of hides, skins and Hemp.—Fine, 1 bale ( —): "ood fair published in this issue of West Coast tallow was held yesterday. Following is 535 bales (—); hijrli fair. 389 (672); low DEBENTURES— Pines (Fiji), a company that is being the range of prices:— fair, 400 (1239); common. 161 (944); r.- Auck. Gas, 1932,5 p.c. — .. 04,0,0 floated to carry on the business of culti- Dry Sheepskins.—Good competition at jected, 79 (102). Total, 1848 bales (2674 . Auck. Gas, 1935,6J p.c. — .. 103/0/0 vatffig and canning pineapples in Fiji. full late rates. Halfbred, 14%d to 15d; fine Tow.—No. 1, 185 bales (—); No. 2 215 Auck. Harb. Bd„->i p.c. — .. Htt/0/0 — crossbred, 12%d to 14%d; medium cross- (289); No. 3, 112 (499): condemned, il "iUrk" H " -rue riAlDV lunilPTnv bred, ll%d to 14d; coarse crossbred, lMld Total, 623 bales (831). Devonport Loan 6 p.c. — *.*103/0/0 THE DAIRY INDUSTRY. to 12%d; half wools, 9d to 12%d; quarter fetnpper Tow.—No. 2, 24 bales; No 3, Devonport Loau', 4>) p.c. — *. 92/10/0 wools, 9d to 12%d: pelts, 8d to 12d. total, 25 (none waded last year). Hamilton Loan, 6*p.c. — -.102/10/0 Salted Skins.—On a par with values cur- Stripper Slips.—Passed for export (3rd N.Z. Breweries 1/6/4 .. 1/6/1

WAR LOANS— Lonn. 1038. 4i p.c. ... 100 0/" .. 00/15 0 Loan, 4.;. p.c. ... 100/0, 0 .. lK»/17/« Loan, 1041, 41 p.c. ... — . . 00,10/0 Loan, 10o6, 0 p.c. ... — ..101/10/0 INSCRIBED LOANS— Loan, 103$, 4J p.c. ... — .. 00/15/0 Loan, 1030, 4i p.c. ... — 99/15/0 Soldiers, 1933, 5i p.u. — .. 101/0/01 Loan, 1938, uj p.c. ... — . .101/10/0