FINANCE AND COMMERCE

Press, Volume LX, Issue 18135, 26 July 1924, Page 10

FINANCE AND COMMERCE

DOMINION'S TRADE AND MARKETS.

[BY OUR COMMERCIAL.EDIIOK.)

Grand Junctions,' with recorded--.turn-over at 2s Od, show. a-slight easing. Movements of - Prices. Trio following arc variations on last week's prices at a glance: — ; ~ ■ up: ' £ s. d. Bank.of N.S.W. a. , 0 2 6 Goldsbrough, Morfc (cum rights) f ... 0 0 5. Hiiddart Parker ;o'.o . Manning .Brewery - K'l •' t?' 2' 0 P. iand 0.-'lteferrfed Stocks' £1 to £9 DOW. - ' .... - £. a. d. ' National Bank of N.Z, ... 0 0. 6 Taupiri Coals . ... ... * 0 0. 6. Ward's Brewery .A ... 00 3 GENERAL MERCHANDISE. GROCERIES:

Cabled information received this, week from Sati Francisco states that; tho pruiis market is coW as low as it is c'rp6et«d- : it will go, and - higher values' - are • anticipated. The statemcrit .is also' made on'the- authority of a large San Francisco house that present' prices" are below the "cost' of "production. . - Quotations. are ont. for December .-arrival of new .season's. bag figs, and they seem fairly jow, being .on a pv with openipg prices lsat season. .It will' he .remembered that' last year prices advanced-after they opened. • New' regulations under the' Pare Food "Act are " now out, and they contain' a new. departure in relation to chilled-or cool, stored eggs. Begulatiocs are laid down. that Buch eggs, are to "be etainpe<r'notifying that they are cool. stored eggs, so as. to. prevent th® lsl being' sold 'to .as -'fresh .eggs. It is wall known tHat during tie paet few' years thousands of'.dozens of .crf?d stored eggs have, been- «old as fresh eggs. ■ The. present value of eggs being high, tho housewife t finds it "cheaper to purchase shop made' "cake than to. make h'er- own, consequently the pastryoooks are. fairly, hnsyi" the: present prices for' biscuits- being higher than the <iost of taw material warrants, there', is an'iincreasihg ifenden'cy for,, the' public to purchase block- and fruit cake and nesrlect the biscuit. The ban on the importajticn : of' Californ--ian. onions waa given :to'.the public by "The Press".: before' the. news' ,was" for publication .elsewhere. .Sincie the prohibition has been enforced' arid' ccM-firmexi by tho Minister of 'Aericulturt -in Parliament, there has heen-. qxiite a- brisk business -donft in. onions, most of which are now jaaportrd. The next Anstnilian shipment will not .be available until about the middle of August. At tie moment,- stock? are-very low, with ft firm market in Australia. Prices have advanced at tho port of shipment and higher prices are bound 'to rule from now on. When the sorionsness of the, position New Zealand would Be in; if., the dreaded foot-and-mouth dUewi broke <ont herej'is oonsidered.' the opinion is 1 everywhere -' expressed . .that 'the' Government' has ' done- the proper thing in/not taking«ry riplps. .««•*.,« : ■ V, ■ British, hemp--iwinesrare on; the ,upward price tendency, and next arrivals will, bo hiprher than present stocks. A new. line of good tea appeared on the local market packed in,billies, and is beinsr sold 'to meet the-competition of "Sib rtins 'at partHel :prioes.- • • r The direct steamer dne to sail from StngaNew Zealand is not., away yet. ana >is : not> expected to •.lea've unlil soni© tiiiift in-'- August. "Tha:-VM«>l:.i«' the Sussex »nd her departure will be in these coluitfnf as soon. s!fe-..-it*ds, alpng: with., her ■flUMSiwi. »iaw laat with Vagar'' for Lytfelton, and should she "be'. away on tjin-,- h«r/.cargo should '-'be --available ""here - about. ; .. Tuesday.; The duty on- imported, aogac is , to terminate in SeptombCr,. opd •. if Parliam nt does not. reinstate it,"it mean that Java sugar Will be available at about £3 'a ton "below-to-day's voilne -for -.l A.' this-being ahoirt the- amount-of dutv. p«r ton payablo on all ' foreign augar. In «the . meantime btayers not.- operating; to any - extent _as they prefer- and .see, how,, the potion develops. Neither is . any, Java sugar I»eing. ordered, because importers aie .not Bo *dro. that the daty will, not be. placed on a higher scale thin it is at'present, in which' casa-the costs wojild-be.-tpo high. : '

, NEW COMPANIES. ■ Hegistration -Of tha following neir com- ' paniep-ia in- tbis-.week's "ilerCantilo Gasette":— - - 1 . .- B;-- Moore and-Sons, regd. W -.a: private compauy,-.' J,i>ly ■ 10th,. . Office: 101; Edg-iwaio road, Chmichuroh. Capital: '■rlO,ooo, into 10.000 - share® .of £i each. Slibscnbersi' Chrvslchurch —B. Mooro 3006, 8.. O. Moore 4000, S'. J. Moofo 4000. ; Objects: To- afiquiro ■ and take oTer aa a going oon-. cetn the. business •. o£- builder®; aid . -oontrao tors lately carried on .at .Chriotchnreh vby S.- J. and B. - O. Moore, .under -atyla of Hoore and Son,. and 'to carry on buaineas as painters, dccoritoia, . builders, and general. "• , v.' . -.'■/■ . ' . Scott Service. Tailoring '.Co;, Ltd., tegi, -as a private company, Jnly 11th, -1924...0apitaf:-, i£2oo into 5900 shares of . each. Stibacnbeja.. .phrirtchnreh—J?, S. Bamsay Jessie. A. Banj»y- l Jl)OO.i, inoquirC, going concert, ani i to.. carryl<m flte. bixsineß6: of .tailoring; aiflt' ana clolftjnir nantjfarithtisiw' lately cirried' oii by P. S. Itanrfay as Scott .-Serfk* .Tailorjng. Co. -:" 1 Hereford >lnv<wtment .Co., - • x«gd. as- a- private company, July/ 16th, . Capital: - £6000,' into 6000 shares'oi £l each.. Subsariben: Christchnrch?—L. • <B." 'Hart 3000, F.' D. Sargent'looo,-"'F. E, Date 1000, K3-. A- : Cr; -Connall 1000. Objects.:- To carry an businens. as, jfinancial and- commercial .apents, r^to. - MELBOURNE MARKETS. . r-j. 'v.-, -v., ; ; -' 'feed, 3at-. ,:t ■ - -- ■ -'" •• -- . • Barfey^-EiJglish,' J U > Sd' a' bushel; Cepc, SS 7d' to 3i «d Potatoes—£3 .to is4\sa a.ton. ■ • Onions—£l3 10s to £l* .a ton. ' "V v ' : ' "• •- HIDES. '• * MELBOXTRXE, July 2a. •'HidesV are-firm: at; laU rates:FROZEN MEATJHARKJET. r. : - ,s- V •_ Dalgetyuhd-- CSompany,''Uteiicd.^Kav.^•. fe-ceived.'-tie-..foyowing. cablegram from - their London'Office,'-dated July a*th:^—/.• •- lamb runs principally on .light-weights. Market firmer. -"Wo quote 'priine CKwabied lainbj Canterbury, * heavy* lOfd, light- lljd; ICorth Island, hiarv 10d, light "Frosen Mutton— better. ' Any change-in price* is m favour of sellers. ,Wo quote heavy 6*d, light TJd; . North IsWfid,' haavy 6|d, light 7id." ... RANGIOPA HORSE BAZAAR.

'The National. Mortgage ami Agency C£j of K.X., Ltd., bald a jepecial bowe sala •at tyir howa baaaar, • Bangjora, yesterday. Theia was an excellent attendance of .-buyem and Uwi "oublie, and; a«alj, rceulied. The entry was. not. lam, b'ut 'aay "horses showing quality and of the right *ase m#da epirited competition, and quit® a nweber xrf-bnyem-Jhad- to go away -un•uiteA. Soma of ihe prices obtaincd -were:— Bay jtoanghl aged.- £35,; bsy draught celding, fl y«ar», £33'los;' brown draught Siding! iged, jCfO; "bay draught- gekling t 7 ywa, ±36; wan ispriiig-carfr "getding, S years, £3J> 10s; bay epring csrt pO; -.brown gelding, £l6;'- bay hfccV .-gelding* £l4; f aorta bra»<d>t Irosi £3 10s -to £&• -

HE VIEW OP THE SHARE

MARKET. The number of sales reported on iho various Stock Exchanges during the week is on a par with last week, and the tone of the market continues good. In Government Stocks and' Bonds the *4J and 5 per cents, show an advance. Shares in the Banking group have attracted- considerable attention and a fair amount of business has been recorded. Four and a half per cent, stock, duo in 1938, changed- hands of £O7 5s and £97 10s, as against sales at the, former figure last week and lato buyers quoting £37 10s did not attract a declared seller. The bonds in this loan with recorded business at £97 5s and £97 2s 6d wore turned over this week at £97 2s 6d, £97'7s 6d, and £97 6s. and inoro are wanted at' £97 7s -6d, but holders: ore reticent.

. Fivo per cent. Post Office Bonds, duo m 1927, with rox>orted turnover at £9B ss, sliow an adrancc of 5s on business last week, and there arc further quoted buyers of the bonds and stock at £9B-2s 6d, no declared sellers. ■No business lias been reported this . week in five and a half per cent. Soldiers' Settlement Lor-n Stock, due/in 1533, which sold last week up; to £lOl 15s» and recent demand at £lOl 10s. •met-with response at £lOl 17s fid. Tho bonds also lijve enquiry at £lOl 10s, btit holders are not quoting. , N .Z. : Breweries -10 per Ceilt.- 3>e]ben-. tures, with business up .to 225, show no change on that reported last week, and later sellers are asking 22s 3d, with declared buyers at 21s 9d. Bank of Australasia shares, which gold last week at £l3 7s Cd, now have demand at £l3 I2s 6d, with flcllers 5s of Victoria Ordinary "shares were dealt in at £7 and late buyers offering £6 -15s failed to attract - a declared seller. ■ ' National Bank | of Australasia follypaid shares cbM|;edhtads at* 3d, £ls 10s, and £ls lis. and the £5 paids at £7- 14s srnd .the market cl<-<seri with" buyers of t>h© former at £ls 8s 6d, sellers £15,125.-6 d. National Bank of New Zealand ■ shares have cased slightly from' sales lsist week up to £6 12s 6d .to recorded business this week at £6 12s, <tnd more available at that figure, but buyers are not responding. ißank of New South Walea shares, with business at £4l 15s, show an ad- • vance of 28 6d on that-done last week, were subsequent unsupported a&lkars. at £4l 15s. yJßani of New .Zealand shares, which sold ! IfLst week nip to 55s Dd, have sinoei . , beenplaced &t £ss'9d and 55s 6d, and xSoreare wanted at 5s lOd, with quoted eOllers at 6s <sd. - - y v " .-'JKoyal Bank, f£l paid, shares .have demand at 335'43d, but- sellers 'want fljls,"aijd the £4 paids i\ith reported txnsto&s this week at £6 13s 6d are ' wfailahhs - ikt 14s, but 1 Uuyers are *" sUrtkin, Banks bare had recorded transactions nt £ls -os' Cd and ' £lo 5s as ' Compared "with prices ranging from £ls "sl.6d .to £ls- 3s last week, and-Jaio sellers are offering at £ls 4s Cd, with , declared buyers at £ls 2s. -. National- Insurances, which sold- last Week ut» to 73s 6d with further • • lmyers n,t that l figure, have since been -dealt in at 3a, and late buyers are -offering* 73sj" with sellers at 74s 6d. . t, . New Zealandsg for which buyers were offering 29s €d at the end of last week, have changed hands at 30s. Recorded business in South British at\4os 64 and 40s 9d bhons no on that done last week, And -later sellers are .asking 41s 3d, with buyers at 40s 6d. y Last Yreek Standards had repoitod sales «t &)s 6d nnd 41s, but nolie have been rendHed this week, although xe- "' cent .huyers had advanced- to 423 <jd» Goldshrough, Mort shares cum. rights, with recorded sales at 47a; j 5d, -.hhqw improvement on lAsi .. • -business' at 47», and there are further- . - quoted buyers at 47s 3d, with declared sellers at 47s 7d. . Huddart Parker Ordinary eharos, with roptffted busbess up to 43s Gd, show a rise of 3d on that done last week, and there are further buyers at 436 3d;- but no quoted sellers. P. and O. Deferred Stock, which . changed bonds lost, week,at £271, haa since been turned over at £235. and' ir. . £260, and Euhsfiquent btiyers are-offer- • , - . ing £2BO, -with sellers at £282 10s. '.JJnion- Steam Pa-efercnoe shares were ; pldioed this week at 20s Cd as compared ; v, - \with last recorded, bpsiness «bout month ago at par. Canterbury Frozen Meat shares, .with ' > no recorded business for soino woelcs past, were turned over this week at I ■ £l3- 15s, and there 'are iurther un- i v, j- supportied selkjTs at that figure., i N.Z. Kefrigeniting shares have been i freely quoted, but tho only reported ? business-has been in' the contributing.issue at 03.3d, apd late sellers are asking Ss 4d, Bath;quoted buyers at 9s. !Ilio fully, paids are on offer at 20s 4d; i "bat buyers have not advanced from i - .'last v wßek 5 5 closing quotation of 19s 6d. | : Taupiri Coal Ordinary shares, with i - l reoorded turnover at' 18s 6d,.i'show an i easing/ of 8d on prcriously reported and subsequent sellers wore at 18s 9d, buyers responding: at* IHs* - ■ ■■ - . - * Wcstport Coals, which sold a fort- . .sight ngo.up to S6&, b.ave further .de- , ' mahd at 36h <3d, with sellers asking 375. ; Crown Brewery shares, for which .- . btiyors at the end of last week wei'e : ; . offering. 38s 6d, • have -since ■ changed yt'-i- -hands ut -JOs, and late buyers are offerlag. 40s 6d - without response, •'sc :' have steadily advanced Iwa^lSUMttees^a: fortnight-ago up to and last* week up to 30s 6d, sa *®® week at prices ranging 30s od to ,32s 6d, and more are ! at thff.lntttr £gure s '• with qubted buyers TTard's, with*' recorded trahsactidna last week from 4? a <6d to 49s 6d, have - . since been placed -at 49s 3d. and there are further declared bujers" at 42s 3d : l>nt sellers are askjng 49s Cd. Wilson's Oements-hweimpi;.vea from I sales a fortnight ago at 28s Od and 29s to wo«3k at 29s 3d and 295, * «nd Kauri Timers, with business at * S% ld,<£how slight improrvement on done. last wed; - at. 28s 9d* and 2&s. For both stocks, there are recorded 29s. with sellers 6d higher. ? .- and Co. .shares have been piaoed ai 31s €d andv32s iie against 31s 9d &f<H-kiight agOj-and late sellers arc asWng 32s 6d, .with buyers at 325. \ British Ibbaooo shares remain unaltered with recorded turnover, at 435, And- more Are available at that figure, hoyers 9d lover. i.-. . N.Z. Pbper Mills, whi<ji sold last week at 53s 3d, have demand at 235,--. -bnt sellers are afeking 23s ,9d. t' In Mining shores Mount Lrells liave "been dealt in at 20s '6d. Waihis, with iv. Imsinesa. at 29s "6d and 295, show no ' the