FINANCE, COMMERCE AND MARKETS.

Auckland Star, Volume LXI, Issue 217, 13 September 1930, Page 4

FINANCE, COMMERCE AND MARKETS.

ON 'CHANGE. FLUCTUATIONS IN SHARES. A QUIET MORNING. NOT MANY BUYERS. Fair business was transacted on the local Exchange yesterday afternoon, but there was little life in the market at" this morning's, call. Recent strength in the insurance section was reflected in two reported sales, one of New Zealands at £2 2/6, and the other of South British, which, at £2 18/3, shoved a 3d rise. Goldsbrough, Morts were a shade firmer, with a buyer at £1 2/, but Union Banks slipped further, with a sale at £10. o SALES COMFiESSB. Last Sale. AT THE 3.15 P.M. CALL YESTERDAY— Auck. Gas (deb.). „„ ■ „ . 1035. 6J p.c. ..£lO2 0. 0 ..£lO2 0 0 Commercial Bank of Australia ... 018 6 .. 018 6 Wilsons Cement.. 2 0 t> .. - v ° Dalgety and C 0... 0 2 0.. 014 0 AT THE 9.30 A.IH. CALL TO-DflY— Union Bank 10 0 0 .. Wβ 0 South British.... 2IS 3 .. -la j> New Zealand Ins. 2 2b.. - - o AFTER THE CALL. Wflihi ... 015 0 .. 015 2 Sycroft; Ud. .... H-t 0 .. 11-1 0 INTEREST RATES. The return to the investor on his outlay, based upon the latest dividends and in the ease of loans and debentures upon redemption at maturity, works out as follows for the latest sales:— •PEK CENT PER ANNTC.I. £ s. d. Auckland Gas, debs., GJ _ (1935) ■'••• 2 .V •> Com. Bank of Australia nor Wilsons Cement « 2 j? Union Bank « ? JJ South British 4 " - N.Z. Insurance „ „ ~ o Waihi ° Bycroffs °lt ' SOUTHERN EXCHANGES. , (By Telegraph.—Press Association.! j CHRISTCHUIiCH— This Day. Sales on 'Change : £ s. d. Bank of New Zealand 3' 1C 1 Ditto Jib 0 Mount Lyell 1 ° b Sales Reported: GoTt. 4h p.c. Bonds. 1938. .100 7 G United Building Society ... <> lt> '„' . Bank of New Zealand .... J w «> CHRISTCHUIiCH—Late Yesterday. £ s. d. Commercial Bank of Aus... 018 4 Ditto 0 18 6 Ditto (pref.) » ' » Ditto 6 8 0 New Zealand Insurance...... - - j> Feilding -Gas •• • • ° ° u ~ British Tobacco (cum div.), (2 parcels) 11- * Dalgety and Company U U u WELLINGTON —Late Yesterday* £ s. d. E.. S. and A. Bank 5 11 5 Ditto ...• 5 11 0 CALL AND DIVIDEND LIST. DIVIDENDS. Due. Kaiapoi Woollen Co.—Pref.. 6 p.c. p.a.; interim, 4 p.c. p.a Now Holdeu's Motors —Final, orrl., 6d a share; pref., 8 p.c. p.a Now Huddart, Paiiier—lnterim, ord., • 4 p.c Sept- 18 Kempthorne, Prosser —Interim, 41 p.c Se P*- 24 British Tobacco—lnterim, 3 p.c l . on ord. shares .'. Sept. 30. Thames Theatre —10 p.c Sept. — Bank of Australasia —Interim, 14 p.c. p.a. Oct. 3 Wright, Stephenson—lnterim, 3 S p.c. on ord. shares —~ Oct. b Milne and CJioyce—Shares and . deb. stock, 8 p.c. p.a Oct. 10 CALLS. Taranaki Oilfields—6d a share .. Now Keliance Loan Co.—Pref., 2/G a share Oct - 8

HOLDING BACK WOOL '"' ALLEGED TO BE UNSOUND. " DIMINISHES CONFIDENCE. LONDON, September 11-. A special correspondent of the Australian and New Zealand Press Association at the International Wool Conference at Liege says suggestions were made regarding Australian sales by M. Vervier M. Dubrulle, who said the hold : over policy had proved unsound. The council of the conference considered it advisable to oppose any endeavour to create uneconomic values or to hold over part of one season's clip to another. It favoured the extension of the selling period, provided that a reasonable interval was arranged between the seasons to enable buyers to renew personal contact with customers. » Mr. W. P. Devereux (Australia), said the growers' organisations in '• the Commonwealth, in dealing with the October situation, decided that it would be better, in view of the apparent inability of the manufacturers to absorb wool as offered, to reduce their offerings and extend the season, but otherwise, to allow the laws of supply and demand to adjust the position. In defending this policy he said the result had been beneficial, as low prices must stimulate consumption. Further, practically the whole of the Australian clip had gone into consumption. The conference passed a resolution directing the attention of the wool-produc-ing countries to the fact that restricted sales would diminish confidence. THE MONEY MARKET. FOREIGN EXCHANGES. LOXDOX, September 11. The following rates on foreign exchanges a " current to-day, compared with the par-— quotations on September 9 and Sep. 11. Sep. 9. Par. Montreal, dol New i-ork/aoY. 1032 "» «« Brussels, belga j.--*.-j. Gene/a/fiTto *"* 34 - 855 35 - 00 *' £ 25.055 25.055 25 *> Amsterdam, fl. to £ 12.07J 12.072 12.10 Rome, lire to £ 9i'.85 92.85 9? 46 Berlin, r.m. to £ 20.415 20.41 20.43 | Stockholm, kr. •> i to £ 15.095 18.095 18.159 Oslo, kr. to £ . 18.17 15.16 15.159 Copenhagen, kr. to £ 15.16 18.17 18.159 Prague, kr. to £ 163.625 103.575 24.02 Helsingfors, mk. to £ ........ 190.75 193 3-16 192.23 Calcutta, pence to rupee *. — l< i» S Wft taels 19.25 19.25 - B 15.625 1511-16 - 2423-32 2413-32 24.58

THE LATEST QUOTATIONS. BANKS— Buyers. Sellers. Australasia 11/5/0 .. — Commercial 18/4 .. 18/6 English and Scottish. 5/11/0 .. 5/15/0 N.Z. National 5/11/G .. 5/15/0 National Australasia.. 12/15/0 .. 13/5/0 National Aust (cont.) 6/5/0 .. 6/12/0 New South Wales 31/10/0 .. 33/0/0 New Zealand 2/1(5/0 • • 2/16/3 N.Z. D Mortgage (£1 pd.) 1/6/0 .. — Union of Australia .. 9/IS/0 .. 10/3/0 INSURANCE— National 13/ C .. — New Zealand 2/2/0 .. 2/3/0 Queensland 2/4/6 .. 2/7/0 South British 2/IS/0 .. 2/IS/G FINANCIAL— Dominion Investment and Banking Assn. — .. 1/1/0 Goldsbrough. Mort ... 1/2/0 .. 1/3/0 [ N.Z. Guarantee Corp. — .• S/0 North Auclc. Farmers' 2/0 .. — N.A. Farmers' (B pref.) 7/0 .. — Keliance Loan (ord.) — • • 10/0 COflL — Grey Valley 1/0/0 .. 1/4/0 Pukemiro 2/3/6 .. 2/12/6 Rnnowu — • • ./ Renown (pref.) — •• 3/0 Taupirl — • • 1/6/0 Taupiri (pref.) 1/2/6 .. — Westport — • • 1/10/0 Westport Stockton ... — .. 1/9 GAS— Auckland 1/3/0 .. 1/V3 Auckland (cont.) 17/9 .. 18/2 Birkenhead — •• 10/0 SHSPPSNG — Devonport Ferry ' — .• 1/4/3 Hiiddnit, Parker (ord.) 1/10/0 .. .1/14/0 Huddart, Parker (pref.) 10/6 .. — Northern Steam (p.u.) 14/0 .. 14/0 Northern Stenm (cont.) 0/4 .. 7/0 Union Steam (pref.).. 1/0/0 .. — TIMBER— Kauri Timber — .. 13/0 L.O'B — .. 1/0/0 National 8/3 .. 10/0 Parker, Lamb — .. 15/0 BREWERIES— C. L. tnnes and C 0... 1/1/6 .. — C. L. Innea (pref-.).... 1/1/6 .. — N.Z. Breweries 2/8/3 .. 2/0/6 Staples — .. 2/3/(5 Tooth's 1/3/0 .. 1/4/0 MISCELLANEOUS — Boorh-M.nertonald (pref.) — .. 5/0 British Tobacco 1/12/0 ...1/14/0 Burns, Philp and Co. — .. l/S/9 Bycrofr. Ltd — .. 1/14/6 Colonial Sugar 30/0/0 .. — Electrolytic Zinc 15/0 .. 10/6 Electro. Zinc (pref.).. 10/0 .., 1/0/0 Farmers' Trading 7/6 .. 8/0 Farmers' Trad. (B pref.) 12/0 .. 14/0 Gear Meat, Ltd — .. 1/17/0 Hayward's Pictures.. — .. 12/0 Hill end Phmimer 1/0/0 .. — Theatre Arcade (ord.) 1/5/0 .. l/10/O Theatre Arcade (pref.) 1/0/0 .. — Kempthorne. Prosser. — .. .>/0/<> Milne. Choyce, Ltd... — .. I/-'/;) Milne, Choyce (deb.).. — .. 1/4/!) Morris Hpdstrom — •• JS/O Notional Pictures — •• »-V« N.Z. Farmers' Fertiliser — .. IS/6 Robinson Ice Cream.. 1/1/6 .. 1/3/6 Snnford, Ltd — .. 12/6 "Sanford. Ltd. (pref.).. — .. l fl /0 Sharliinu rnd Co — .. 10/0 Sharland and Co. inref.) 18/3 .. — Taranaki Oil Fields.. 1/4 .. 2/0 Thames Theatre 11/0 .. - Union Oil — •• l^iuWhitronio. Stevenson. — .. l/li/'> Wilsons Cement 2/0/0 .., -/l/H Consolidated Brick .. — •• 15/0 M2NING — Moanataiari (5/ pd.) .. 0/5 .. 1/3 Moauataia.rl (2/10 pd... — . • 0/fl WaihiV.V 14/10 •- 15/2 Waihi Grand Junction 1/10 .. '-:- Mount Lyell 1/0/6 .. 1/1/6 Kamponß-Lanjut ..... 18/0 •• — Kuala Kainpar Tin ... 4/0 .. u/u Karmat 1~/G . ■ DE3ENTtiRSS— Auck. Gas, 1032, 5 p.c. 04/0/0 .. — Auck. Gas! 1935. 6* p.c. 101/0/0 .. — Auck H 8.. 1041. 0 p.c. 101/0/0 .. — luck Citv. 1040. 5) p.c. 05/0/0 .. 07/0/0 Glsborne Sheep Farmers S3/0/0 .. 00/0/0 Hamilton . Theatre, • inf wn/o 1030. 7 p.c. — ■• 100/0/0 ,N.Z. Breweries 1/1/0 •• . ~ , ft Williamson's Films. 7* — •• 100/0/0 Hastings, 1942. G p.p. 100/0/0 .. - Hanraki Plains, IOaO, - -j OO/O/O •■ Tliames C B.C.' "idoU"s8 'p.c — ••' 00/0/0 IVAR LOAMS— Loan, 103 S. 4$ p.c. ... 100/0/0 ..100/10/0 loan 1930. 44 p.c. ... 100,'0/U .. — Loan 1941, 4 p.c. ... 100/0/0 .. - Soldiers. 1033, 5* p.c. 00/5/0 .. — Loan, 1986, 5} p.c. ... 90/5/0 .. — (NGCHSSED LOANS — Loan, 1938, 4} p.c. ... 100/0/0 .. - Loan, 1939. 41 p.c. ... 100/0/0 .. - Soldiers. 1033. 5} p.c. 09/5/0 .. - Loan, 1030, 5* p.c. ... 09/5/0 .. - Loan, 1032, Si p.c. ... OS/0/0 .. —

FROZEN MEAT. MARKET IMPROVING. THE BANK'S REPORT. The Bank of New Zealand has received the following advice from its London office at the close of business this week.— Wethers: The market is improving. Ewes: The market is quiet and unchanged. Lambs: There is a better demand for the Sof the year. Beef: It is thought prices will remain steady at present quotations :-Wether S light, 4%d to 6d per lb; heavy, 4d to 4%d; ewee,.3d tc> o/sd lambs, twos 8d to B%d, eights B%d to B%d, fours B%d to B%d, seconds 7d to 7%d; ox, hinds 5d to 5%d fores 3d to Zy>d- cow, hinds 4d to 4%d, fores 2%d to 3d. LAMB DEMAND BETTER. Messrs. Dalgety and Company, Limited, report having received the following cablegram from their London house, dated lltii 28/361b, B%d; North Island, 28/361b, B%d; Canterbury, 36/421b. B%d; North Island, 36/421b, B>d: Canterbury, second quality, 7d; ISiortn Island, second quality, 7d; Canterbury, 42/50lb, 8y 4 d; North Island, 42/50 b, B%d. The market for New Zealand lamb is unchanged. The demand is tetter. Mutton.-Canterbury, 48/56b, sd; Isorth Island 48/561b, 4%d; Canterbury, 56/641b, IS N?rth Island, 56/641b4%d; Canterbury C4/721b. 4%d; North Island, 64/,21b 4%d- Canterbury ewes, 48/641b. 3%d. North Mand, 48/G4lh, 3%d.. For Zealand mutton any change is in favour of sellers. The demand is fair. Beef.—New Zealand prime ox, hinds sd, fores 3d; Argentine chilled, hinds 6%d, fores 3%d. The market for New Zealand beef is dull. The demand is limited. 7%d The market for New. Zealand pork is very firm. The demand is limited. COMPANY AFFAIRS. NEW AUCKLAND COMPANIES. The following private companies have been registered in Auckland:David Silk, Ltd., dwellers gold and silver smiths, etc. Capital: £/MO, in £1 shares. Subscribers: David Silk, 6000 shares; Betty Silk, 1000 sharss. Birkenhead Transport Co., Ltd., motor omnibus proprietors, etc. Capital: tIoUW, in £1 shares. Subcribers: T. E. Halliday and J. H. Lynch, 600 shares each, L. L. Purdy, 400 shares. ■ , CHEAPER POLLARD. Local mille have notified a decrease in tj 1 ! P«ce of pollard by £1 per ton to £8 10/. Considerable quantities have been coming from Australia during the past j few months, #nd a reduction, in price on ' the other side has enabled importers to supply from recent shipments at the same price as the local mills, with the result that stocks have been, accumulating Now that the local price has been reduced and with a lessened, demand consequent upon the advent of spring, it is unlikely that further importations will be made