FINANCE AND COMMERCE.

Press, Volume LXIII, Issue 18924, 12 February 1927, Page 12

FINANCE AND COMMERCE.

REVIEW OF THE SHARE MARKET. The P!iar» Market continues active, find, a krfl« numbrr of sales have been recorded on the Metropolitan Eitrhangt-s (luring the past week. Transactions in Government Loans show a falling oft. Four and a half per cent. .Stock due J339 change,] hands at £f'G i'l,-. showing no change on previously recorded turnover. Unsupported gellers of the Stock due IMS, are ofTerir.g at £fJ(i

| GENERAL MERCHANDISE. GROCERIES. j Whole. .!<■ merchant)! report busir.cM rather ! .pier. eiT"'-iM!>- i" th ° town sn4 » übnrh '- i The i-rMin'trv fri-ie i« better than the City. ! . rhPrc ,nmo 'tor.- report l.u«iness f•'*' r | >' j hri.k. but a sreat jhnrtaje in cash tak- ! u on» ro'intry storekeeper said, I»m ! s«..!in? o;,t plenty "'■ ?""•'<. h j "! " Mr! - V a " ! to hand «tate that the market for tartaric a.-id is very tirm, and an advance 'i s »t!>.•<• :<•<! at any time. Ario-ntinc canary need ha« firmed up, and i liizhcr values are expected. •■Marled rising' i« 'he '-.te.t London cable m reference to rr.-am of tartar. At I the London market i* about iJO B ton and Minufrf an advan.e "f any importI an.'e take pla--o the pri-e cf bakin* P'nvder I will in ail probability advance in sympathy. Citric acid U now considerably lower than it was tome month- au-v and the P"scnt looks a favourable time to operate, hhoulrt rream of tartar move, citric acid will move in sympathy with it. The demand at pr»«ent for «usar ih very hearv but it h fortunate that there i» no likelihood of a shortage. Stock, arc land in* regularly, and are sufficient to take rare of the demand. The damage to the steamer Northumberland has caused a slmrtasc in some line-., notably j U and V. cornflour, and carbonate ot soda. This ship has on hoard a fair quantity of the»e goods for I.yttelton. and althouuh no word has yet been received as to the condition of this -arc", 'niportcrs are eonslderin; it as damaged, .-.ill therefore 1 not available for stock. In tre meantime 1 Mo-ks arc lirmlv held, and in roitard t" ear- ' bonate of «ud» it is stated shut some ; houses have sold right out.

J0« ; the figure at which business was don" last week.

Knur and a half per cent. Bonds, due V.'Ti, had business at X,'J» li's lid, an easing of £.'■•« fld on that last reported, and more are wanted nt &'■»'< 10s, sellers asking £nr, 17s fid. Four and a half per cent. Bonds, due HMO. were placed at £O7 Ms, an easing of 10s on the turnover about three v<< -ks ago. Five per cent. Post Office Loan Bonds ilu« 1P27 were dealt in at £fi'.» ss, with i'mtlier demand at that figure, sellers at £!»0 10s. Five find a half per cent. Soldiers' Settlement Loan Stock, due 1933, was released at £lOl ami £l"l -Is, as ::gainst £lOl ss, and £lOl last week. The Bond* had recent enquiry at £lOl lia (id, holders 2s Cd away. A parcel of Christchurch Drainage , r .J per cent. Debentures IMS-73 soul nt £!»0 15s; Auckland City r>} per cent, due 1040 nt £97, and Dunedin City 5* per cent. 1D33 at £9B ss. New Zealand Breweries 10 per cent. Debentures are- sought at 24s 3d, which is Id below the figure nt which business was done last week, holders asking -*« 8(1 - , , « i Thero Is Btrong demand for Bank shares; Adelaides were wanted a day or two ago at £9 ss, sellers 5s away. Australian Bank of Commerce have improved demand at 33s (id, but sellers want 6tl more. Australasias rose 4s, to turnover at £l4 lis Cd with further demand at £l4 9s 6d, sellers at £l4 12s Cd. , Commercial of Australia, which sold j ex dividend and rights at 30s 3d last week, roie to 31s 3d and now haw.enquiry at 30s 10d, sellers 2d higher. The "tights" wore placed at 9s sd, 9s 6d, Of 7d, 9« H and 0s 9,1 Commercial of Sydney "rights" m which last week', bnsincss was at *ll 15s, now havo demand at £l2 Is, selle«s at £l2 8s od. National of Australasia fully paids eased M, to sales at £lB 7s, more are o" offer at £lB Bs, declared buyers at £lB 2s fld. Tho partly paids are available at £0 4s 6d, buyers 3s lower. National of Now Zealand at £7 2s 6d show alight improvement on tort week's transaction! at £7 2s 3d and £7 2s, and late aeller* aro offering at £7 2s 6d, buyers at £7 Is. New South Wales cum quarterly dividend of 2J per cent, were dealt in at ill, an advance of £2 7a «donUghest repprted sales last week, and more „, on offer at £4O 12s 6d, buyer! B 'vi 4 Zea'ands' had recorded turnover at 59a 6d, 59i 9d, and 60s as compared KTS9. 3d to 50. fld a week ago, and late buyera are offering 59s lid, sou rt» 2d higher. Mortgage Sharos had Sent enquiry at 11. W g* J£** business figure) ■«"«» »* «• Ud '. .. Bavala £1 paid improved Is fld to |,£-at 89. *nd ti-faUr b ™ improved demand at-£7 10., sellers asking 2s 6d more. „.., - Ifnion Banks, which sold at £ls 7s 6d and £ls «s last week, had several at £ls os, and dosing quotatlon. were fld on either sWe. TftMtern Australians at 58s w, oos, on sal*, a week aw at Stfo&Tnd 58e, and more are wanted at 58a Bd. declared wller. at 58s 6d. * Clonal lSuranc*. remain unaltered with recorded btuines at 74.; New ZeaJands had «ttrther turnover at 37a Cd, owrn dividend-and ex , d i Tld<J "i ftt 9d.clo.iw auote. jM*? r ™& lWetg S"3B teturnSer \% 57., at •«*■««• more are .wanted, wller. 1» away. Dalgetv ahd Co. shares were placed at £ls sa, *nd more are wanted at £is " ttShn at £ls 12. 6d (kldsbrongb Morta were tonied owr at 50a 8d and 50. 9d, as against 60s 9d and 50. 6d a fortnight ago. National Mortgage shares are available at 66. 6d, declared buyers at

NEW COMPANIES. , Amongst new ronipanic< recently restored, the "Mercantile Gazette" gives detail nl the following:- . United Farmers' .Manures, Ltd Res- • ."* ermbcr l»h. IMB- Capital: 17000 into 000 Pliste. of t\ each. S!.l»cri'*M; lhincd,n--C W liiTuoil MOD, Sentmuu Owen I'MObject.: To acquire and take over as Ji Roim? concern the tiuinc.a o mixers of and Sealers in manures and rrtilwer, now carried on at Dunedin and cl«cwh«ro by \' tm f Wm. (iibson and Septimus Owen under the stylo of "O. W. Gibson and Co., and to carry on the said business. Federation, Ltd. Uc„'d .m a private comranv. February 3rd, 1327. OlTicc: Office ni tho 'New Zealand Kmplovcrs I-cdcrotion, -V tional Mutual Life Amuranco Duildimr, Customhouse Quay, Wellington. Capital: £IOOO, into 4000 shares of i\ each. Subscribers: Wcllington-W. H. l»nnclt. C. P Knight, and A. H. Miles 3000; LI!. Partridp. and E. E. Stonebank 100. Objects: To purchase, tako on lease or exchange, hire, or otherwiso acquire any real and personal property, to make or join in making roada, footways, tramways, and general incidental. ~ Auckland Finance and Guarantee Ltd. Regd. Jan. 25th, 1927. Capital: £70,'000 into 70,000 (hares of £1 each. Sub■cribers: Auckland-N. B. Spencer 600, N. K«wcmnb 500. E. E. Win 250, T. J. Colo 260, C. 0. Bsker 250, P. S. Bponcer 250, G. A. Russell 100. Objects: Loan and financo company and incidental. Auckland Milling and Afforestation Co., Ltd. Regd. Decatnb«r 24th, 1926. Capital: £42,000 into 4200 shares ot £lO each. Subicribera: Auckland-E. Caahmore 50, H. Orange 60, H. T. Parry 15. E. A. Hitchings 40, J. Hore 15, J. Armttead 15. F. J. Vernon 25! Objects: Afforestation and incidental. Nauniruru Fireclay and Coal Co., Ltd. Regd. December 22nd, 1928. Capital: £SOOO into 5000 shares of £1 each. Subscribers: AuekUnd-A. J. Webber 100, L. W. D. Jelp 100, R. E. Odd 1, T. N. Mathieson 1, J. Nicol 1, Q. J. Thompson 1. Whangarei: R. Smeaton 10. Objects: Colliers, mine owners, and incidental. Automobile Financo Co., Ltd. Regd. as a private company December 23rd, 1928. Capital: £25,000 into 25,000 eharea of £1 each. Subscribers: Auckland—R. A. C. Laidlaw 24,900. hj: V. Laidlaw 100. OT>jecU: Deal In motor-cars, vehicles, and incidental. Of a total of 80 new companies registered, of whiah details are given in the latest issne of the "Mercantilo Gazette," 25 were registered in Auckland.

THE FRUIT MARKET. CHRISTCHURCH. The market was well supplied with vegetables this week, with the exception ot cabbages, which were in short supply and made up to lis 9d ft doxen for tho beat. Tho cauliflowers were generally oi inferior quality. The best of them made 3s a dozen. Potatoes and onions are very plentiful at present. This'week potatoes made irom 2s ki 2a 6d a sugar bag and onions from 8s to 8a Gd a sugar bag. Prices of other varieties of vegetables were much the same as Jast week. Apples are now starting to como in fairly freely. The best dessert are realising 10s to 14s a case. Cooking apples ara already selling cheaply. A shipment of American oranges and lemons and Cook Island and Fiji bananas is, duo to arrive in Christchurch about the middle of next week, they should meet with a good demand, as supplies of all these fruits we on the short aide at present. Quotations ere as follow: Apples, Kelson, per case, up to 14a; apples, local, per case, up to Its; apples, cooking, per case, 8s to 8s; apricots, dcatert, per lb, 4d to 8d; apricots, No. 2, per lb, 3|d to sd; grapes, firsts, per lb, la 4d to Is 8d; grapes, seconds, per lb, 8d to Is 3d; lemons, 'Frisco, per cue, 82s 6d; nectarines, firsts, per lb, up to 8d; nectarines, seconds, per lb, up to 5Jd; pears, dessert, per lb, up to 4}d; pears, No. 2, per case, Ss to 6s; peaches, dessert, per lb, up to 8d; peaches, No. 2, per lb Sid to Bd; plums, cooking, per lb, ljd. to 2d; plums, greengages (dessert), per lb, up to 6d; strawberries, per lb, Is lOd; blackberries, per lb, sjd; to:aatoea, dessert, per lb, Is Id to ls4d; tomatoes, No. 2, per lb, 6d to lOd; beans, French, Id per lb; beet, per dozen bundles, up to Is 2d; cabbages, per dozen, up to lis 9d; cauliflowers, per dozen, up to 3s; carrots, per dozen, up to Is 3d; cucumbers, hothouse, per lb, 4d to sd; cucumbers, outdoor, per case, 3s 6d to Ss; celery, per bundle, 4}d; green peas, per peck, Is to la 6d; lettuce, per dozen, 3a 7d; marrows, per dozen, 6s; new potatoes, per lb, Jd; potatoes, per sugar bag, 2s to 2a 6d; onions, local, per sugar bag, 3s to 3s 6d: onions, per cwt, 6s 6d; pumpkins, per lb, Idj rhubarb, per dozen, 2s Gd; •pring onions, per doienj Is 6d; turnips, per dozen, 4d; swedes, per sugar bag, 2s.

Unii&ti Porter ordinary shares.at 47i 6d show an advance of 3d on last week. The preference are sought at 20s 9d. sellers.asking 22s 6d. frozen Meat preference •hares were released at W",*'* ,ato buyers at 955, sellers 2s 6d higher. Partly paid New Zealand Refrigerating were dealt in at 6« 2d. and more are on offer at Bs. buyers 2d below. Reported business in woollen company shares has been confined to Kaiapoi fullv paids ordinary at Da 9d, and the market closed with buyers and sellers 3d on either side.. Taupiri Coals ordinary chanped hands at 225, which is on a pnr with previously recorded turnover. The preference are sought at 235, no declared sellers. . , Auckland Gas shares were placed earlv in the week at 23s 9d cum dividend,, showing no variation on highest reported business last week, and later were dealt in ex dividend at 235. For Christchurch Gas ex dividend unsupported sellers are asking 2os. Turnover lost week cum the dividend was at 26s 9d. Wellington ordinary were placed at 27s cum dividend. Mannings Brewery shares sold at 20s showing no variation on last week, and there is further demand at 19s 10d. sellers 4d higher. Monteiths had sale at 20a, and more are wanted at 21s. with sellers asking 22s 9d. New Zealands were turned over at 525, as against 52s 9d a fortnight ago. and more are available at 525, buyers 9d lower. Staples, ex dividend, are on offer at 37s 6d. with buyers Is 3d below. _ Wilsons Cements were dealt in at 36s 6d, 36s 6d, and 36s 3d, with subsequei.-; enquiry at 80s 6d, sellers 9d higher. . In the miscellaneous section, Beath and Co. shares changed hands at 31s 9d. with further demand at that figure, sellers at 82s 3d; Burns, Philps were placed at 41s and 41s 7d, as against 40s 0d last week: Electro. Zinc preference at 37s Id, 375, 36s lid, and 375, as against 36s 5a to 37s a week ngo, and Whitcombe and Tombs at 71s 6d, with late enquiry at 71s 6d, sellers at 735. Colonial Sugars have buyers at £57 10s, but sellers are reticent. Albornia Gold Mining shares at 3s M nre on a par with highest recorded , business last week; Waihis sold at 17s, * Mt. Lvell* st 28s 6d and 28s 7d, comT^,'pared with 28s 6d last week, and 'T'Jimraraus at 8» 2d, 3s 6d, and 3s 3d, \ ,%*s* against last week's sales ranging ~. Ktrom 8s 9d to 3s 2d. ■ ft s :J t ,_ , s?■{'[ , ONAKAKAIRON, <n* «m«

DUNEDIN. (sficui. TO THB PRESS.) DUNEDIN, February 11. Business baa been brisk in the fruit mar ket during the week, s good demand existing for all classes. Apricot* and nectarines in particular are in short supply, and high prices are being realised. ' Plums are plentiful and prices low. A shipment of Rarotonga bananas is due early nest week, when prices should bo much easier. Fiji bananas are also due at the end of the week. Naval oranges are also due at the end of the week. ' Navel orange* are in short supply and prices aro ■ high. Raspberries and loganberries are about finished. Supplies of tomatoes are increasing, but last week's good prices are being maintained. Prices, however, should ease very soon. Vegetables of all descriptions have a poor enquiry. Current wholesale prices are as follows: Apples, Gravenstein 12s to 14s per case, Worcester Permains 10s to 12s per case, cookers 8s 6d per case; oranges, Californian Navels 40s per double case; lemons, Californisn 80s to 35s per double case; bananas, ripe 30s to 35* per case; raspberries, 8s to 9s per bucket; loganberries, 7s 6d to 8s; plums, ltd to 2Jd per lb; nectarines, 6s to 8s per half-case; Christchurch tomatoes, Is to Is 3d, seconds lOd to Is, local hothouse Is Id to Is 3d; cucumbers, Ts to 10s per dozen; pear's, 5s to 6s a half<aee; apricots, crates 6d to Bd, cases 4d to 6d per lb; peaches, 6s to 7s per half-caso, crates <d to 6d per lb; cauliflowers, Ss to C* per sack (choice only), others 3d to 4d; green peas, ljd to 2d; swede turnips, 5s per cwt; white turnips, Gd to Is per doien bunches; potatoes, 7s per cwt; cabbage, choice 4s to 5s per sack of two dozen, others Is to 8s; spring onions, up to 4d per bundle; lettuce, choice, to 8s per doren; parsnips end carrots, new season's, Is per doren bunches; broad beans, Id to l{d per lb; French beans, 4d to 6d per lb. SHARES. (Beeeited February 11th. 7 p.m.) LONDON, February 10. P. and O. shares are quoted at £2(O.