DOMINION'S TRADE AND MARKETS.

Press, Volume LIX, Issue 17691, 17 February 1923, Page 10

DOMINION'S TRADE AND MARKETS.

(rr en coxkxsoai, bsxto&J

' REVIEW OF THE SHARE MARKET. A good volume of business has been done on the Stock Exchange during the week, and a number of sales have been reported. In several stocks eharp rises in price have been recorded. > loans have nor, been ' quoted a3 freely as usual, and the number of recorded sales has not been large. Four and a .half per cent. War Loan duo in 1938 and 1939 has sold at £97 5s and £97, snowing little change as compared with last week and later buyers have oiiered £97 with sellers at £97 12s 6d. Five and a half per cent. Soldiers' Settlement Loan due in 1933 has been dealt in during the week at £IOO los, £lOl, £IOO li>s and £IOO 17s tkl with subsequent buyers at £IOO 15s auu sellers at £lOl. The reported businesa at £lOl represents tfio fli&heet figure to dato at which this Loan has had recorded sal« 3. Last weeii'a -business waa at £IOO 15s. At tho end of last week Bank ot Australasia shares were wanted at £W 7s txi, with sellers at £l3 12s 6d, and there has since- been business at £io" 7a dd, £l3 fc's, and £l3 10s, with late buyers at £l3 6s, and sellers at £l3 los, . , National Bank shares have changed hands at £6 7stid, £oVs9d, and £6 7s 6d, with further sellers at £6 Bs, showing practically no change as compared with last ween. Thero is still a good demand for Bank of New South Wales shares, which are cum a quarterly dividend of 10s per ehare payable on the 27th instant. Sales have been reported ■ dur--1 ing the week at £37 18s 9d, with further buyers at £37 10s—and sellers at £33, Last week's business was at £3/ 10s and £37 15s. Bank of New Zealand shares have changed hands at 67s and 57s 6d, with further buyers at 57e and sellers at 57s 6d, but the.reported sales have' not been numerous. , Union Bank of Australia snares have fluctuated a little, and have changed hands at £l4, £l3 18s"'6d and £l3 17s 6d, with later buyers at £l3 17s 6d and sellers at £l3 18s 6d, as against sales during last week at £l3 17s 6d, £l3 17s, and £l3 19s._ j..'Reported business in National Insur- ' v-.; ; ahce shares at 73s shows an improyeof 6d'per share as compared with ■lasfc:woek and subsequent buyers have ■? Offered 72s 6d, without attracting de?lelai«ed, sellers....-.-'.- ,; '.- \ was business last week in New

." Zealand Insurances at 28s 3d cum an ' interim dividend of 8d per share and early in the present week at the same figure and at 28s. Ex dividend bus*- '' ness liae since been done at 27s and i ( 'later buyers have offercß that price, jwith sellers asking 28s. 4 " ' Sales of South' British Insurance ' 'Company shares at 37s yd with further y r at 37s 3d and sellers at 37a 9d i" ;,do~not show .much change as_ compar- ''* i edj'with last\week. I /'V to the* tame of writing no tran* i <\. been reported in Stand- ;. f ~ offering; 33s 3d, .and sellers are asking >.iv 84M3dT as against sales last week at r ,v. h* s 'been, a snfl»p rise recently fr \ and Co. shares. About a fortnight ago these shares changed hands at £ll/lfo, and at the ead of last week s buyers were offering £l2 2s 6d without ' sellers quoting. There hat since been * , "busineM at £l2 8s and £l2 14s, and '."%' Kie buyers have offered £l2j9s, with ir?.\, ;is)terßsiit £l2 15.4. Mbrt and Company '/.^swea,,are easier than they were last ' fyjv&kj.xthtn was done at 4os 6d. No sales havd been during 'the week and Jate *V r -'sellers,have offered at',44s 6d without ''jfcu attracting declared buyeis. , < W'ltfXltodfattttl Mortgage shares Bite been at; 77s 6d, showing no change tufflsjEffip&*& w * tn l ast week. 1 * Parker' ordinary shares daring last, week at sos and there»#ave since been buyers at sosr3d and sellt,f&J^tobs)uty.Bxozen Meat* Company shares have been dealt in at sellers quotingjtt' that P^jS|#a|^ud'buyers offering £l4 12s 6d. fe&sfphtfmaTkefcfoi' New,, Zealand RefrigWfi'efflpßg, Company snare* has been up to the time oft writing business during the nartly foaid shares at |JJS4M']sd,,e£ the recent dividend of 4sd ItPvBW tHu6. Sdbsecfafent buyers have ofsellers at 14a sd. Last cuaf'dividend'business was at fyS'ttifo wanted, at,2ss, with sellers at 27? dividend of 9d per ehare as comHVmireTffJWth, last weeks cum dividend ftM v ~Coal Company shares are cum a dividend % ju£S&\s/paKcent, and 'have sold during r ßs €d and 8s 9d. gfjMßD Ir Mtfkot for Kaiapoi Woollen shares'is not strong and no business has been reported dunhg the -<s> '"Walk, >The inlly paid'ordinary Bhares fi&tyijite been wanted at'22s 6d withisell- , i and buyers have offered ' fojr -the contributing shares with i '>„ sellers at Jla 3d. 3>unng last ,X\-"-j week'- these shares changed hands at J&\ilSb?&&. Buyers have offered 20s 3d O/^',!<•? the Company's preference shares »<s<*, tfzth sellers '■"■7/ f Cbristcnurch Gas} Company shares , have, sold at £8 and £7 12s'Gd, with buyers at £7 18s. and sellers at ' x l i sjt /fhero-has been some activity in / ' < Brewery Company shares, and a num- * v ''ber of eales have been recorded. Crowns £'\ bate .changed hands at 403,_with fur--0 ' *thor buyers at 39j 6d, and Mannings at \ no change as compared with last week, but Ward and Company , • * Shares have shown a sharp improvev i ttlent. ' At the end of last week buy- * \' ? era 'were offering 26s 6d for these ' shares, with sellers at 28s, but yesterday'business was/reported at 345, and - ' ' further buyers offered 325, with sellei'' ~ Vi -asking 355. '-^ r V«Jhe market for Wilson's Cement is quieter and the only reportt, „ !/ed 'business was at 22s 9d, as compared if 4 previous week's sales at 23s r , j and 23s lid. Late buyers have offered f22&«Bd, wi«i sellers at 22a. lOd. 7 J '" T?*Bvt» has been a noticeable improve 4 Colonial .Sugar' Company i'' 4 shares forv wbicE, buyers are offering Q i£3S 10s, without attracting declared ' Ho sales have been reported ~; for. some time past, but a week ago . -v biyert were offering £35 10s, and a ** r ago £35 "10s. '/ i "*\ Shyers are offering 23s for Dental ';i> |ahd Medical Supply Company shares at lVs'i which fieure business was done earlier luyers were wanting N.Z. >p. shares paid' to £2 hut subsequent buyers is, with sellers St 30s. » new preference shares ilytic Zvao Company axe loa.twith sellers at lls)| j'jeported business being I r% The preference Company, cum a -3d jer snare payable on ,°l»ve y efaanged hands at puttigOs: 3d during last Market has been rf t, *■*. p'«»"wv(( NM MOTH ,

quiet. Waihis have sold at 31s', 30s 3d and 30s, and Mt. Jbyell's at 22s 3d, but up to the time of writing no other business has been reported. GENERAL MERCHANDISE. HARDWARE. , Merchants generally report a slackness W business, the falling-off doubtless being due to the absence of fsirmers from town, througn harvesting. However, the prospects should be favourable for a satisfactory resumption of trade when the busy season.is over as tho pf iptodJoe are better than during the past lew years. The building trade la and about tile city hsvs distinctly improved. Tne erection °l numerous bungalows in the outskirts has made a decided difference, and a continuance is likely for some time, owing to the acute house shortage etil existing. Enquiries for larger structural materials are also encouraging, and it is generally expected that buildings which have been contemplated for some years will eoon oe commenced. Bar iron and steels have been selling freely, and some parcels of heavy bars have been placed. Enquiries for farming requisites are numerous, thi3 demand generally being considerable at thi3 period of the year. Plough shares, ekeith blades, mould boards, and various accessories have been selling wellNevertheless, returns are not up to expectations. There are few alterations in prices, and any that have occurred generally show a tendency to advance. The following are the prices ot a few of the main items: Bar iron, £23 per ton basis. Corrugated iron, Orb Brand, £34 per ton basis. The price of girders is somewhat unstable, varying from £2O to £24 per ton, with a decided upward tendency. The retail trade has perhaps been affected more than the wholesale, owing tooths absence .' of country buyers, but the dullness will doubtless disappear when the harvest i 3 over. GROCERIES, ETC. Pqioes are now out for new season's Mildura currants. The figure shows a reduction of about one penny when compared with present -prices in stocks. The latter are, of course, all old season's fruit, as the new fruit, although quoted, will not be available for some time yet. So far jrfices for tie sultanas are not availaWe, and it is expected that quotations will not be out for some time yet. The sultana is harvested later than currants, and this means that it is not necessary to state prices for some time yet. Sago and tapicoa, still continue to command high prices. As the market in Singapore is still high (with every indication oi remaining so for some time) lower prices are impossible. Eecently some ■foreign sago wan imported, but the quality was found tj he very inferior, and V quantity of it v&& "jobbed off" at low prices. Zig Zag cigarette papers are again in short supply. . The price of cheese still remains very firm, and holders are inclined to raise quotations,- and any further improvement in the butter-fat market will' see at once an advance' in .the price of cheese. The harvest season aa usual generally brings along with it' a fair demand for tinned provisions. This year is no exception to the rule, and country stores are doing ft brisk trade in tinned provisions of all Further supplies of resin are now available, at the same low.rates as ruled last month. This article is daily coming into favour. ; • I ; NEW COMPANIES. The Gazette" records the registration of theiollowing new companies:— P Fred,-LiU, Ltd., registered as a private company, Fchruary «V,1«8- .. Hereford street, Chnstchurch. Capital. '£3ooo into 3000 shares of £1 each. bub-, briber*:-Dunsandel-Fred. Lill 2998, and! . Margaret-'MI 2. Objects.' To acquire and take over as a going concern the business lately carried on by' Fred. Lill at Dunsandel, ; of threshing mill proprietors, with all assets and liabilities, and to carry on the business of traction engine proprietors, mechanical engineers and general. _ Verne 1 , Collins and Co., Ltd.,, registered n't a\ pri"ate company, February Bth, 1923. Office,.272 High street, Christchurch. Capital £2OOO, into 2000 shares of £1 each. Subscribers £2OOO, into 2000 shares of '£% each. Subscribers, Christchurch—L. E. VerjJazoni SCO. T/.. T. 'Goxigh and R; J. G. Collins 600.' Objects : To acquire and take over as a going concern the /business lately carried on by L. : E.'v Vernazoni as 'Verne phd Co., and'to carry on-business as stamp dealers and incidental;; - ~ James Carter and Sons, Ltd.. registered as a private compahy February Bth, 1923. Office: 104 St. Asaph street, Christchurch. Capital,: £6OOO. , - Subscribers: Christchurch —J. Carter 6500J'and Elizabeth' Carter 500. .Objects: To /acquire and carry on as a going concern j the business of motor and general'r engineers, lately carried on at Christchurch by James Carter, ftn3 general. ■■■■'■■;.r-'.: : \ ■' TALLOW. ' Under, date February 14th, Messrs Booth and Co;'a London house advises,that at the tallow; sales! held on that day, 1056 casks .were offered' and all sold. ,AH grades' were in demand and prices showed un advance of Is. Stocks <it February Ist are reported to have been 6886 tons <abou(i 1200 tons greater than -on January Ist). Imports during- January were''3Bos tons, and deliveries 2517 tons./ ' The New Zealand Loan ard itereantile Agency Co., Ltd., have received the follow ing cablegram from their London office, under date 14th instant:—''Tallow—We quote present' spot values for the following descrip tions:—-Fine mutton 44s 3d per cwt, good beef 41s 9d per cwt, mixed 87s 8d per'cwt. Market active." LONDON WOOL SALES. The' l»ew , Zealand Loan ,and''! Mercantile Asenev ■C'c;.'L ; M..--J«!i*fc 'ece'«ed the following cablegram from their London office, under -GtovC iiu 1...ct-. i — .lUu-iCJi "..Jul a&.'-H WU, l). cludo arrivals up to February 10th, 1923 Shipments by l-'aparoa, Wairnana, Corset JRuahine, Mahia, Middlesex, and. Waiwero will 'be. available." DAIRY PRODUCE (Received February 16th, 12.5 s»m.) ",;•■: :.'vBONDOjN, February 15. ■ Butter—There is good demand. Heavy arrivals are clearing well, especially choicest, •but secondary sorts are somewhat neglected; New Zealand choicest 19(ja to 1965, exceptionally choice 200s, unsalted 2000 to 2Q2s; Argentine 180s to 184s; Danish, 206s to 2065. market is firm and stocks are short. ■', New Zealand whit? 126s to 128s, coloured 126s to 130s; Australian, whito 122s to 1245, coloured 126s to 128s. Dalgety and Company, Limited, have received the following cablegram from the!? London ,Office, dated February 15th:— ■v : : "Butter-—Market firm. We quote Danish, 208s; New Zealand salted, 197 a; finest Australian salted, 1925; unsalted,'l94a; G.A.Q., Australian, 187s. Total imports of butter into United Kingdom last month, 50l,000cwt, as compared with 4Sl,OoOcwt for corresponding month last year. "Cheese-'-Market • firm.- We quote New Zealand white, 1265; coloured, 1285." FROZEN MEAT MARKET. Dalgety and Company, Limited, have received: the following cablegram: from their London- Office," dated, February loth:— ":. "Frozen Lamb—Demand for N.Z. lamb is good. Market .firm. No forward'sales re-" ported. We quote Brims crossbred lamb, North Island light, 18d. Demand for Aua- ■ tralian. lamb: rung principally on-finest qualities/ We quote G.A.Q.- crossbred lamb, Australian heavy, 9Jd. Light, IOJd. "Frozen Muttoi—No forward sales report-, ed. for. Australian mutton is limit'.We. quote G.A.Q. crossbred mutton, Australian heavy, 7d. Light, 7Jdl "Froien Beef—Demand for New; Zealand beef runs principally for forequarters. Mark- : et firm. We quote N.Z. .prime ox be«f," hind*. 4Jd; fortfl. 4d."