FINANCE AND COMMERCE.

Press, Volume LX, Issue 17981, 26 January 1924, Page 10

FINANCE AND COMMERCE.

D£ AND MARKETS.

DOMINION'S TRADE AI

(sr <nJB ccmkebciai. EDrroaJ

REVIEW OF THE SHARE MARKET.

"The tone of the Share Market continues cood and business has been brisk during the week, the number of reported sales fihovrin" 3 marked increase on those recorded for the previous week. Four and a half per cent. Loan due in JO.'!S .has s-!'i at 500 .17s Cd, £OO /s 6d, and £9O 10s, as compared with business last Keek at £'J7 and late sellers were declaring at £9O los, with quoted buyers at £9O 7s Gd. The loan due in 1939 has changed hands at £96 17<3 6d, and there are further unsupported sellers at £97.

1 ,7 iv0 per cent. Post Office Loan Stock duo ir. 1927, for which buyers are offering' £97, with holders wanting £97 15s, was turned over at £97 10s, and business has also been reported at the same figure in the loan due in 1929. Five and a half per cent. Soldiers' Settlement. Stock, due in 1933, was placed at £lOl 6d and £lOl "15s, .showing an upward tendency on previously recorded business, and subsequent holders are asking £lO2, but buyers are not quoting. I''or the Bonds there was recent demand at £lOl 7s Od, but holders are asking £lOl los, and sales have been reported this week at £lOl 10s and £ LOl 12s <kl. Bank of Australasia shares liave eased from sales at. £l3 Is 6d last "week to £l3 Is, and £1.3 this week, and lurther sellers arc ollering at .£!.'! Is, with buyers responding at £l2 18s 6d. . National Hank of New Zealand shares are firm with buyers at £6 12s 6d and aellers at £6 13s (id. Bank of New South' Wales ' shares, which had salo tip to £4O 2s 6d. at the close of business last year, have since shewn steady improvement, and sales haye been recorded this week at £4l, ivith further unsupported' sellers asking £4l ss. Bank of Nerw Zealand shares have changed hands at 49s 9d, 50s, 50s 3d, and 50s, showing little. alteration on business recorded last week, ;nid later

sellers are offering at 50s, with buyers quoting 49s 9d. Union Bank shares are fairly steady with sales at £l4 17s 6d, £l4 18s 6d, and £l4 18s, as i against business last week at £l4 17s 6d and £l4' 18s, and more are on offer at £ls, but buyers are riot ■ quoting. Royal Bank shares, £1 paid, had recent enquiry -at 355, but sellers were asking 6d more, and for the £4 paid shares there were sellers at £6 19s, frith declared buyers at £6 15s. National Insurance shares changed

hands at 78s 6d, an advance of 2s Gd cm sales previouslv reported this year, and more are wanted at 78s 9d, with pollers asking 80s. New Zealands, which had recorded sales lip to 30s 3d last week, have been placed at 30s Gd, at which figure more ate on oiler, with buyers declaring at '3os.

South British 'lnsurances were dealt in-' at 40s, and more are available at ; that figure, but buyers, are reticent.

Standards have quoted buyers at 40s, but no recorded sellers.

Dalgety and Co. shares, which had hot had reported business for some time past, wore ■ turned over this week at £l3 ss, and the market closed with unsupported sellers at £l3 6s 6d.

Goldsbrough Mort shares were placed this week at 46s 6d and 47s 6d, as against 45s 6d and 46s 6d a fortnight ago, ,aiyl there are further buyers at ,475. 6d, /with sellers Is higher. N.Z. Loan and Mercantile Agency .ordinary stock is firmer, recorded business this week at £B3 10b, showing an of £1 on business cum the dividend about a month ago, and later buyers offered £B3 without attracting a ■declared seller.

Howard Smith shares changed hands at 53s and 52s 3d, as compared with sales a fortnight ago up to 53s 4d, and more are available at 52s 3d, with quoted buyers at 51s Ski. Huddart Parker shares sold this week at 42s 6d. 42s 9d -and 42s 6d, showing little change oil last week's reported business, and later buyers are offering 42s 3d, with declared sellers at 42s 6d. The preference issue had recorded business at 20s 9d.

Union x Steam preference shares had recent enquiry, at 19s Od, but eellera were asking 20s 3d, and no sales have been recorded this year.

•, Sellers of Canterbury Frozen Meat ordinary shares are firm at £ls, but there are ho recorded buyers. For the preferefice issue there are declared buyers at £5 3s, but no quoted eellers. ■. .N.Z. Refrigerating Company fullypaid shares, cum a dividend of 9d per "hare, are on offer at 245, but buyers are not quoting. Business earlien in the week was at 23s 6d ex the dividend. . »■

The partly paid shares, cum a final dividend of 4Jd por share, changed hands at 1 2s, and late sellers are how offering at lis lOd with buyers declaring at lis 4d. . "Westport Coals • which had business last week at 395, are available at 39s 9d, with recorded buyers Is lower.

Kaiapoi Woollen Company's ordinary shards had 'reported business at 19s Scl, at which price more are wanted with holders asking 20s. Holders of the preference shares are olfering at 20s, without attracting a deciareu buyer. Christchurch Gas shares had recorded business this" week at £8 Is, and there are further quoted buyers at that 'figure with sellers responding at £S 4s. ■ Crown Brewery shares which sold last week up to 59s t)d, have sinoe had business at 61s Gd and 625, and later sellers are quoting at 61s, with buyers at 60s.

Manning's, for which "buyers offered . '2ss tk! at the end of last week, liave 'been turned over at 26s 4d, 26s 6d, 26s 9d and 26s lid, and late buyers aro offering 26s Dd, but sellers want ~!>6s lid.

A weok ago Ward's were wanted at v i3s 6d,. but reported business this week at 445, 44s 3d and 44s 6d, has advanc- | ed the sellers' quotes to 465, with buyi' crs now • offering 445. i ThereV-has good demand for Wil-

\ son's Cement shares and transactions I have been recorded at 30s 3d, 30s 6d, { 30s 2d, 30s 3d, 30a and 30s Ski, which ' is on a par .with last week's reported : Kales, and further buyers are quoting : 30s 3d with sellers asking 31s. ; ' Burns, Philp shares have been turn- , ed over at 32s 6d, and there is fur■i ther demand at 31s 9d with, sellers at «■ 32s • 9d. D.I.C. preference shares have sold at I 21s 3d, and subsequent buyers offered i 21s, without attracting a declared " eeller. Electro Zinc preference shares, which -are now cum a dividend of 4i per cent, payable on March sth, aro sought at '29 a 3d, but sellers want 30s 6d, as against last week's closing quotations of buyers 28s 6d, but no declared sellel's. Sales of Mtison Struthera shares 4s paid a't 4s Bd, and 6s paid at 7s, have been, reported this week and buyers aro offering 4s 7d and 7s Id with sellers asking 4s 9d and 7s 9d. N-.Z. Drug Company shares have eas- '• od slightly to business this week at 66s

as against that done last week at 66s Cel.. N.Z. Paper Mills shares were turned over at 24s and 24s 3d this week, showing practically no change on last week's recorded business, and subsequent buyers offered 23s 9d, without attracting a declared seller. Wailii Mining shares have had several transactions at prices ranging from 29s 3d to 30s as compared with business reported last week tip to 295, and that done a fortnight ago at 28s 3d. Grand Junctions changed hands at Gs 4d. 6s Gd, 6s Bd, 6s lOd and 6s 3d as against recorded sales last week at 6s and a fortnight ago at 5s sd. SOUTHLAND WOOL SALE.

RECORD LOCAL PRICES. (PRZSS ASSOCIATION TELZCHAU.) INVERCARGILL, January 25. Record prices for Southland were obtained at the first wool sale of the season which was concluded to-d-av. Top price was 29Jd, this price being obtained by Dalgety and Co., Ltd., for Messrs Andrews and Derricott, Eyre Creek. The lot comprised four bales of fine halfbred, and bids came -with remarkable rapidity when it was offered. Throughout the sale bidding was brisk, Bradford, Continental, and American buyers operating freely. A considerable amount of wool was bought for the Continent, and German buyers assisted in keeping prices up. In the past buyers were'content to bid in farthings, but this time halfpenny and penny bids were frequent, while, in some cases eager bidders sprang threepence, so keen were they to secure certain lines. Very few lots, were passed at auction. Some vendors had falso ideas of values, but the large majority were perfectly satisfied with their prices, and willingly met the market. In almost every instance the valuation prices wore pasaed. Twopence, threepence, fourpence, and as much as sixpence over, valuation prices were secured by the agents, indicating the trend of the market. The keen competition kept the local buyers quiet, and few lines remain in New Zealand either for manufacture or fellmorigering. , The following table compares the prices with those ruling at the first sale last year:—

FRANCE SHORT OF BUTTER. (A USTBAUAN ASD N.Z. CABLE ASSOCIATION.) PARIS, January 24. i The Minister of Agriculture has issued a decree forbidding the exportation of butter until April. This has relieved the shortage of better and milk.

NEW COMPANIES.

Registration of the following new companies is announced in tkia week's "Hercantile Gazette":

Morgan, "Watson and Co., I/td. Regd. as a private oompany January 16th, 1921. Office: High street, Leeston. Capital: £3OOO, into 3000 shares of £1 each. Subscribers: Leeaton—G. Morgan and W. Watson each 900, Minnie /Watson and Mary Morgan each 500, Dr. Volckman 200. Objects: To carry on the business of garage proprietors, motor mechanics, and general engineers lately -carried on at iiooaton by F. H. Barton and G. Morgan. C. Hedges and Co., litd. Regd. as a private company December 6th, 1923. Office: Thames street, Oamaru- Capital: £IO,OOO, into 10,000 shares of £l each. Subscribers: Oamaru—C. Hedges 5050, E. Hedges 2150, L. Tweed 2450, C. Hedges 50. Objects: To carry on the businesses of fellmongcrs and woolscourers and all or any of the trades of manufacturers of and dealers and workers in fat, iallovr, bones, hides, and all pro* ducts of » like nature.

McDonald's Oamnru Lime, Ltd. Regd. A3 a private company December 10th, 1923. Office : Thames street, Oamara. Capital: £35,000, into 35,000 eh area of £1 each (30.000 | ord. £:-}iu7T;3 and 5000 founders* shares). Subscribers:' Totaratahi—S. "McDonald 17,500 ord 4ICS founders', M. A. if. McDonald GCCO ord., 834 founders'; Christchurch: D. Reese 750 ord., C. L. Peters 750 ord.; Oamaru— R. K. Ireland 1500 ord, C. Hedges 750 ord., I A. J. Grave 750 ord., H. P. S." Familton 500 ord., H. G. Mortimer 500 ord, L. R. Jordan 500 ord., B Roll 375 ord., "W. G. Grave 375 ord., T. Boyle 250 ord., R. Finch" 250 ord., J. M. "Wilson 250 ord. Objects: To carry on tho business of limeburners in all its branches and all or any of the trades of manufacturers of and dealers and workers in lime, limestone, cement and incidental. Eureka Gum Co., Ltd. Regd. as a private company December 17th, 19-23. Office: 15 Stock Exchange Buildings/"Water street, Dunedin. Capital: £3575, into 3575 shares of £1 each. Subscribers: Dunedin —J. A. Mnthowson 500, R., A. Mathewson 600, "W. J. Watson 400, P. D. Garside 100, J. Murdoch 150, T. "Watson 100, Alex. Begg 100, E, J. Mathewson 500. J. A. Roche 100. A. X" "W.itson 100. Auckland—V. L. X. Bensted 50. A. Bensted 50, H. Mcßae 825. Objects : To obtain and win gum by sluicing' and suction or other process, and for that purpose to acquire and hold under license from Hugh Mcßae, of Auckland, engineer, the right to use his sluicing and suction gum-dredging process. A. de Beer, Ltd. Regd. Os a private company December 13th, 1923. Office: 66 Stuart street, Dunedin. Capital: £4OOO, into 4000 shares of £1 each. Subscribers: jDuncdin— A de Beer 2000; Oamaru—A. L. Bezett 2000. Objects: To acquire and take over B3 a going concern the business now carried on at Dunedin by August de Beer and to carry on business! end to act as merchants, traders, commission agents, brokers, mercantile agents, and incidental. New Zealand Insulators, Ltd. Regd. December 17th, 1923. Office: Dunedin. Capital ■ £25,000, into 25,000 shares of Jd each. Subscribers: Dunedin—G. Mondy, J. C. Stephens, J. S. Monro, A. C. Stephens, J. N. Thompson, S. L. Gould, E. B. Binney. 1 share each. Objects: To acquire and take over as a going concern all or any part of the b'isiness now carried on by the Dominion Porcelain and Tile Industries, Lid., and to carry on all or any of tho businesses of manufacturers of and dealers in insulators, bricks, tiles, pipes, pottery, earthenware, china, and terra ootta, and incidental.

MELBOURNE PRODUCE. > MKT/BOURNESJanuary 25. Oais—3s Gd a bushel. Barley—English, 3s lid to -is OJd a bushel; Cape, 3s 2d to 33 3d. I Potatoes—Market over-supplied; £6 15s I to £3 a ton. Onions—£s lGe to £6 a ton.

1923. ■ 1924. Halfbred— d d. d. d. Super 22 to 24 28 to 29 Medium 18 to 21 24 to 25i Inferior 16J ,to 17J 21J to 234 Three-quarJierbred— to 26} Super 17 to 19 — Medium 15 to 16$ 174 to 20 Inferior • . . ' 14 to 15 . 15J.to 17 Medium CroasbredSuper 17 to 184 • 17 to 21* Medium 13 to 15£ 16 to 17 Inferior 10 to 124 14 to 15$ Coarse Crossbred — Super Medium 10 to 12 16 to 17* 10J to 114 14 to 16Inferior 9 to 104 11 to 125 Pieces — Halfbred 164 to 20* — to 19$ Crossbred 10 to 15 15 to 18 to 14$' Medium .. 13 Looks 5 to 5$ 7 to 11 Bellies — . Halfbred, .• 12 to 16* 14 to,16