DOMINION'S TRADE AND MARKETS.

Press, Volume LIX, Issue 17941, 8 December 1923, Page 12

DOMINION'S TRADE AND MARKETS.

REVIEW OF THE SHARE j MARKET. |

Sr.les reported on the various Stock j Eici;.'<riges show an increase in number . £si compared with the total weekly sales j lor some time past. Most Government [ stocks shot l- a recovery and there is fair riemand for all classes of Stock I'jxchangc securities. ■li per cent, stock due in 1938. which was dealt in at £96 15s last week, has since changed hands at £96 15s, ana £97. The Bonds have sold at £96 15s. which is 2s Gd lower than last week's recorded business. For the stock due •a 1939 there aro unsupported sellers t'.b £O7. Tlkto is a sharp rise in u per cent Post Offico Tx>an Bonds due. in 192/, which are sought at £9B 2s as against sales at £97 15s, and £97 12s 6d last week, but holders are not responding. 5i per cent. Soldiers' .Settlement inscribed du- in VJ33 has been turned over at £IOO 10s, £IOO 15s, and £lOl, shewing a steady upward movement on la.=)t week's recorded sales at £IOO 10s, and recent buyers were offering £IOO Ivs, hui sellers are now asking £lOl 15v. The Bonds which changed hands .last week at £IOO 10s, and £IOO 7s 6d, havo been dealt in this week at £IOO 10s, £IOO 12s 6d, and £IOO 15s, and xhere is further demand at £lOl with sellers -wanting £lOl 15s. Sew Zealand Breweries 10 per cent, debentures were placed at £lO2, showing no change on sales reported last * Bank of Australasia shares had sale at £l3 Js and £l3 which shows a ahgnt easing on busings last week at £id zs tid and £l3 Is. , , National Bank of New Zealand share in which the last recorded business was. at £6 14s 6d have been turned over at £6 los, at which figure there is further demand, but holders are reticent. Bank of New South Wales shares for which buyers offered £4o' at the _end or last week were since placed at £4O cis, and late sellers are asking £4O 10s, but there are no declared buyers. , Bank of New Zealand (old issue) sliures have changed hands at ols 3 ols 3d,-51s 9d, and. o2s, a sharp rise on last week's recorded transactions at 51s 6d and 51s 3d, and subsequent, buyers are quoting 51s 9d, with sellers at 523. The "newissue" shares were dealt in at 498 9d, and 50s 3d, which is on a par with last reported sales about ' a fortnight ago. and recent sellers were offering at.the latter figure, with buyers at 49s 6d. ■ ■ . ■■»* Sales' of Union Bank shares at £l4 • 17s and £l4 17s 6d show little change OH last week's business, and buyers are offering £l4 17s with sellers declaring at £l4 18s 6d. s Commercial Bank preference shares '' have enquiry at £6 10s, but holders aro not quoting. , ■ National Insurance (-.hares liave'been ■ ' turned over at 76s and 75s Cd, as com- \ pared with business at the former figure last week, and subsequent sellers offered at 76s Gd without buyers quoting. New /Zealand's were placed at 28s 9d, showing ho alteration on last week's ; sales, and late sellers are offering at 1 wivh declared buyers at 28s 6d. -sScuth British Insurances for which . there -were unsupported sellers at tho close of last week at 395, havo changed , , hands at 38s Ski, 38s, and 38s 3d, and subsequent buyers are declaring at 38s, : with sellers responding at 38a 9d. Standards, in which tITe last recorded eates were at , 38s, had enquiry ~ earlier in the week at that figure with . wau|ing 395. XJoldsbrough shares were placed at 46.1 '6d, an advance of 6d on last reported business abdut three weeks ago, "and-more are wanted, at that ' witk sellers asking 46s 3d. Jioward Smith shareware on offer at . 50a'6d, but no buyers'are quoted, as , compared with last week's closing quotations of buyers 50b 9d, sellers 51s 6d, . arid previous businessat 51s. Huddart-Paxker ordinary shares were turned over at'4ls and 41s 3d, as against last week's transactions at 41s, at which figtlre there is further d&- . mandj with sellers asking 6d more. ■ \ Union Steam preference shares havo - changedhaiids at 20s 9d and 20a 6d, a slight easing on recorded business a ago at 21s, and more ate avail4*<t»ble at K 2os 9d, with bjiyers at 20s 4d. Canterbury Frozen Meat Company's ordinary shares, which are how cum a , '.dividend and bonus totalling 10percent. ~ 'had business at £ls 10s, and the market closed with buyers offering £ls 5s •" but no holders quoting. The prefer- : etlce issue, : cum a dividend of 3 per cent.; has enquiry at £5 <>3, but theroi " are, no declared .sellers. - N.Z. Refrigerating Company's fullypaid shares are offered at 28s, but buy- ■ ens are not offering, and ho business has ; • been recorded for the past fortnight. The partly-paid shares were placed at Us 2d. lis 3dj and lis 4d,. snowing a '.slight increasQ on. sales reported l#st f . week at .lis 2d, and holders are now • ; declaring at. lis, with buyers at 10s (3d. North Canterbury : freezing Com- > pany's shapes were looked for a feu?) days ago at 4£e,' but Sellers were reti- - <oent. Business in Westport-Stockton Coals ordinary shares at 5e 4Jd shows a slight improvement on that previously recorded at 5s 3d, and recent sellers asked 5s <■ 6d without buyers quoting. Weßtport are sought at 375. • which is 6d lower than last reported Bales over ti week ago, but sellers want - 3&J. Reported business in Woollen Company shares has been confined to Wellington preference which changed - hands at £9 6s, cum the rights previousTy referred to in. these columns. 1 ' Kaiapoi Woollen Company ordinary shares, fully paid, which sold at 21s ' last' week, are now available at that ' prick, with buyers at 20s Cd. The part-ly-paid shares are on offer at 10b 9d, with recent declared buyers at 10s, and for the preference shares there are unsupported sellers at 21s 3d. , "" Christchurch Gas shares have been dealt/in at £8 2s 6d, which is 2s <sd better than previous reported business about three weeks ago, and recent buyers were offering £8 Is without holders responding. Business has been recorded in all breweiy shares except Wards, which are sotight at 41s 9d, with sellers wanting 42s Cd, and business last week at 41s 9d and 42s 43d. ' . Crowns havo changed hands at 57s ■ 6d; showing no change on last week's sales, and sellers are asking 57a 9d, with, buyers 6d lower. Mannings had sale at 2os 6d, as compared with previous business at 25s 6d and 25s 3d. and are now available at 25s 6d, with buyers at 2os. New Zealand's have been turned over at 24s and 24a 3d, as compared with pusiiicss at tho latter figure last week. Wilson's Cement shares had reported business at 28s, showing a reduction * previous sales by the amount of the dividend. . _ Kauri lumbers, cum tho dividend of Is per shave, have been dealt in at 295, uhowmg ari improvement of 6d on preTOus.htMuteetf cutn the dividend at 28s , . £*■, 'No have since been l' ~3^i^^tw?^ lihedividend- " . by|eßß ..in Bnmla, f '' ! V ' ' '

(k era covxsucux, ranoaj

figure more are available, flith de-c-hired buyers Is lower. j Bcath and Company's shares nre| sought at 325. but Kellers want 32s tid, winch is 3d lower than last week's reported business. D.I.C prt't'orenoe shaies had sale at 21s; which is on a pur with previously recordud transactions, and there is further demand at that figure, without declared sellei-s. Mason. Strnthers shares have been freely quoted this week, and the 4s. paid shares have changed handset -is 3d. with further demand at 4s 2d, and sellers at 4s f>d. N.Z. Paper Mills shares have receded s'i'ihtly, hein.ir s->ld at 22 <. as (ompared with sak-s last week at 22s 3d, and a fortnight ago at 22s I'd. and subsequent sellers are asking 22s <iu, with buyers offering 23 s <jd. JJcf-eiit biivors offeretL,7"2s Od for Whitconihe and Tombs shares without attracting declared Kellers—last recorded business about three weeks ago was at 72s (id. Mt. 1/yell Mining shares had business at 22s 7<*l, that retarded a fortnight ago being at 22s fld and 22s (3d. Wailiis have been turned over at price*-, ranging from 29s (3d to 28s Gd, and closing at 28s 9d, as against previous business up to 30s, and receding to :29s 3d. Grand Junctions changed I.anus at -Is Sd. 4s 9d, and 4s 10d. sales last week- being at 4s 7d. 4s Gd, 4s od, and 4s Gd. NEW COMPANIES. iiißst.a ion cf t!ie i.e.. coaip-n.. & in announced in tiiis weeu'a "-UercanliKUazette : Port Craig Timber Co., Lid. Kegel, as a private company So. '2oth, IK'!. Capital : * - I<J,UUO, into 10,000 shurci of £L each, Subscribers: Invercargill—H. !•'. Drew 0000, K. A. Anderson '2000; Chnstchuich--D. Keece 500, W. W. Keighley 500, W. H. Banks 500; Port Craig—W. P. Daly 500. Objects- Timber merchants.

Ford Motors, Mu'iiuwatu, Ltu. Rcgd. A3 a. private company Sov. 27th. 1923. Office: Pal meraton Aorth. Capital: ilu.uOO, into 1000 shares of £lO each. Subscribers: Wellington —€. 13. Walker 500; Ngpier—J. Selwyn 500. Objects: To acquire and take over aa a going concern the business now carried on at Palmerston North by "Ford" Motors, Manawavu, Ltd.," to manufacture, repair, buy, sell, and deal in automobiles, motor cars', motor trucks, motor vehicles electiic v.hicles, and general incidental. Dominion Mortgage and Deposit Co., Ltd. Regd. Dec. 3rd, 1923. Office: 8-10 Brandon street, Wellington. Capital: £50,000, into 5000 shares of £lo.each. Subscribers: Wellington—C. K. C. Robieson, H. D. Brown, J. F. PTiytliian, T. H. B. Boon, C. W. Stewart, A. Gyles, W. Perry; Huntcrville—W. IT. Maclean—all 1 share each. Objects: To carry on. the business of a mortgage and finance and loan company in all Tls branches. MARINE INSURANCE. UNPROFITABLE BUSINESS. The present dullness in marina insurance is not appreciated by the companies doing that class of busintss, after tatir experiences during the war (states an exchange). With shipping idle to a large extent, ana va.ues generally on a lower Icvei, a shrinkage in returns was expsc.ed, but tho position has been accentuated by an extension of competition* Tue rivalry ot ntw omccs has been intensified by the entrance ot older offices , into marine business. Such conditions, of course, could not go on without check, and it je reported, that discussion has taken I place between Jjloyda and ueprosentatives of the insurance companies acting as adjoint hull committee, ■ the object being to protect their market, so that better ro.urns may be assured to uaderwriters. Hull insurance is such an important source of income that the announcement that it is likeiy that agreement will be arrived at by the underwriters, to get such a rate of premium as will enable them to meet all qlaims, and, in addition, obtain a fair profit, is of general interest. Still, with the income of shipowners ly curtailed owing to acute trade dmrosstori, and with the outlook for shipping Jar from satisfactory, they may move in the direction of <(fttabliahing insurance funds for iheir own protection, or may use limited liability policies to a gjeater extent than haa been the case. BEES. OFFICIAL STATISTICS. Statistics issued last week in regard to apiaries in New Zealand show that, up till tho middle of September 4695 apiaiiea were .registered by the Department ot Agriculture. The amount of honey and beeswax produced during the -year ended May 31st last waa 2,930,0371 h and C0,2561b respectively. Of the total of 76,573 hives, 26,811 contained Italian beee, 18,573 black, and ,31,189 crossbred. It is apparent that many *mall apiaries have not so far been registered as the number of households keeping l bees 'in 1921, according to the census, was returned aa 8426. It is estimated by tho Statistician, however, that the yield of honey and beeswax shown above will not be understated by more than 10 to 12 per, cent, rne number of awaries in land districts is: North Auckland, 690; Auckland, 539; Gisborne. 89; Hawke's Bay, 170; Taraniii, 305; Wellington. 639; Nelson, 254; MarlW>ugh, 96; Westland 113; Canterbury, 828; Otago, 812; Soitthlaiid, 340. DAIRY CONTROL BOARD ELECTION. (PBZSS ASSOCIATION TBLEGBAM.) INVERCARGILL, December 7. At a crowded meeting held at Wyndham, the following resolution. was carried: •'That this meeting, representative of dairy factories in the \iyndham, Edendale, and adjoining districts, the largest and most closely settled dairying area m Southland, aprtoves of the South Island candidates recommended by tho Dairy Control Producers Committee, pledges itae.f to assist in .heir return, and urges producers to vote for •Messrs Thacker, WaitoJ and Fisher. (PBBSS ASSOCIATIOH TMJtGBAM.) EOTOBUA, December 7. Mr W. G. Phillips, of Te Aroha, a candidate for the Dairy Produce Board, telegraphed as follows to the Hon. W. Nosworthy:—"Can I nominate scrutineers for ballot count. Please advise date, place, and necessary procedure.' Mr C. J. Reakes, on behalf of Mr Nosworthy, replied:—"Am instructed to advise you that it is quite open to you to appoint scrutineers. Counting of votes will commence 2 p.m. on 13th, at,the office of tKe chief electoral officer. You should advise him whom yon nppoint ns your scrutineers." . CHRISTMAS FRUITS. TO '"THE PBESS.") DUNEDIN, December Tho W&ikouaiti arrived from Australia during the week with about 500 tons of dried fruits from Mediterranean ports for the local Christmas market. The fruits were carried to Sydney by the steamer Siantax, ana transhipped to the Waikouaiti there. The consignment includes 5000 boxes of sultanafl, 121 crates of figs, 430 baga of figs, 40 half cases of currante, 390 cases of preserved fruits and 100 case of canned fruits. RANGIORA HORSE FAIR. At the Rangiora horse fair yesterday there was an entry of about 90 head. The Bale was a dragging one throughout, the continued dry weather being the principal cause. A mnjority of the entry was passed in, aged draughts and hacks being almost unsaleable. The prices realised were:—Best draught*, fouz to seven years old, £35 to *47j aged, £g to £22; and hacks, £2 to £l2