SHARE MARKET.

Press, Volume LXVI, Issue 19942, 31 May 1930, Page 12

SHARE MARKET.

WEEKLY REVIEW.

During the pa»c week markets genders lly bare shown further improvenitnt, and there is good demaiid for most clasoC* of investment stocks. The week's trading was well above the • reruns weekly turnover for this year, and has only been exceeded on tWO cm casions, with Banks and Brewery »li:irrs attracting more than any

ether group. The following is a comparison of the <s:vi)y recorded turnover on the local I'.xchange (exclusive of vestibule busings) during ill? past fortnight: This week. Last week. £ £ Saturday 2,840 Munduv ... 0,282 2,012 Tuesdov ... 0,079 2 6/8 Wednesday • 6,104 Thursday ... 3.135 1,024 Friday ... 6,800 3,813 Totals- ... £32.140 £15.655 Of this week's total Bank# accounted for £10,920; Lyejls £441; Breweries £9343; Tobaccos £3702; and. Pas* tornl £1230 fn Government Loans 4i per rent. 1930 Stock bad dealings t>t £9O 5s and £99 15s, and the Bonds at £99 "s (kl. Fond" and a half per cent, stock, due 1938, advanced to £OB 15s; per cent. H'32 Stock realised £9B 15s. Five and a half per cent Bonds were taken at, £99 "s fid, and there were further buyers at that figure, sellers at Fire and a half per cent. 1933 Stock and Bonds are wanted at £99 os, with tellers of the Bonds at £99 10s. Westport Borough Debentures, 6 per cent. 1940, realised £108; City of Auckland per cent., 1936, £97 and £9O 10s, and Mount Albert Borough 6 I>er cent., 1959, In the Banking section business was well spread. Buyers of Adelaides raised their bids to £6 16s 64, but tellers want £7. Australian Bank of Commerce ranged from 24s lid to 25s <td, as against 24s to 25s 8d a week ago. Australia* have buyers at £l3 7s 6d, which is 2s 6d above last week's business figure, but sellers ar<s retieeijt. Commercial of Australia ad* lanced to dealings at prices ranging Irom %U 6d to 21# 9d, closing at Sift Pd (la?t week 20s 8d to 21s>—-the preference ura wanted at £(5 Bs, recent fillers at £6 9s. Commercial of Sydney scored a noteworthy advance wit" dealings at £2l 15s *nd £22 10s. #ll2* ILsh, Scottish, and AustraJion, which ranged from £6 to £6 6* lastwfiek, wer# placad at £6 0s and £0 10& this weak. Rational of AustrftJa#»a, fully paid, cijpi dWifteod, jumped to £ls 8s ftd and £ls 9s 6d—e*. dividend of 10». tier slwe-rbiiSOT® we offering iCXS ,4s. Gel, sellers at £l6 9s. The £5 paid, w per ah axe, are wanted at £7 ll« od, sellers at £7 13s, business last week, *am dividend was at £7 lis.6d, {judex dividend this week ftt 57 12b 6d. National of New ZealandJiad transactions at £6 6s 6d and £0 fite. New South Wales, eum dividend, advanced, to £39 JOb, closing at £39 8s 6d—cs dividend of 10s per share sellers want £39 7s 6d, buyers at £39 2s 6d New Zcalands, cum dividend, moved withm last weakV limits with dealings trora 68s 6(1 to 58s lOd. Union Banks hardened to £ll 7s Gd and £ll 12s bd, and closed stronger with buyers at £ll 15s, sellers at £l2. j Insurance and Loan and Agenoy.-r-National Insurance ware firm at 14» 0d and 14s 5d New Zealands scored a rise of 9d on turnover at 44b 9d, and more are wanted at. that price, sellers at 455. South British moved np to 59s 6d„ rtelgetyg m stronger with buyers at *ll «h. sellers at £ll IBs. OoWsbroogh, Mortu jumped to 32s od, but later relapsed to 325, closing at 31s 113 buyers, 3Zs #fl fellers. New Zealand Guarantee Cortitration were reloaded at 7s 9d and 7s lOd. United Building at 143 Sa ihQW a rise of lid on last recorded turnover, Wellington Investment and Trust talked lis. Shipping and Frcfipen port Ferry shares: unaltered at ha. Huddart Parkers changed band# at 38s 6d and SBl 7d, #s against previously recorded turnover at 37s €d. Northern Steams fully paid were taken at 13s 9d. Gear Meats declined to 37s 3d, and 37s 6d> subsequent unsupported tellers asking 38* 3d. New Zealand Ker frigcrating fully psld Realised 10s 9d, and the partly paid 9d and 4s lOd, market closing firm. Woollens, Coals, #nd Gas.-—Kaiapoi Woollens 17s p*id advanced to IJs and lis Sd, and more are wanted at lis 3d, sellers at 12s. Grey Valley Collieries were placed at 8&s Bd, and late buyers are offering 23», reeont sollers at 255. Wcstports, cum dividend of 4 per cent., wero firm at 31s fld—buyers ex are (juoting 30s 6d, no sellers. Stockton •Tuiaary fetched Is 83, Auckland Gas moved up to 34s 6d, and late buyers at 24s 3d failed to attract sellers. Ohristehurish had dealings at 26s 3d, as against 26s 6d to "6s 83 a week ago. Breweries.—<J»rltQns advanced 6d to business at 345, market closing 33s 3d buyers, 34s Od sellers. New Zealands ran down from 52s 9d to 52s—last week's rango w|g from 52s to 53s 3d—and more are available at 525, buyers Id below. Staples recovered to 47s 9d, and thorn are further foyers at 47s 6d, Kellers at 47» ua. Tooheys jumped to S4s, at which figure mere are on offer, buyers 6d below. Tooths ranged from S»4s 3d to 35s Id to B4s od, as compared with 345, 34a 93, to 33s last week; In the Miscellaneous Investment section British Tobaccos and Colonial Sugars accounted for the bulk of the, recorded volume of business. Tobaccos moved between 40s and 40s (Id, as against 88s <3 to 40s last week. Colonial Sugars advanced to £4l, £4O 17s 6d, and £4l 7s 6d; Mount Lyclls, cum dividend, went from 29s 8d to 29s 3d to 20* 6d, Cttmparcd with 27s 9d to 29s 3d a week ago. Other transactions are shown below, figures in parentheses indicating previous prices. Amalgamated Wireless (contr,) 20s sd, 2Q» 7d (31s 6il). Australian Glass (cum div.) 42s 6»1; Dunlop Perdriau Rubber J4u (id (15s Id to 14s); Electrolytic Zinc (ord.) 25s 0d (25s 3d); Electrolytic Zinc fpref.) 87s Sd (86s, 25s fid); Farmers' Triiding 8s 9d (8a Od); Ifayward's t'ires 13s; Henry Jones' Co-operative (rum div.) 30s, 29s 0d; Kauri Timber 13s (13s); N.Z. Fanners' Fertiliser 18s (I 8» 9d); Wilson's Cement (cum div.) 455, 45s 6d (42s Od) j Okarito Gold' niu.iiig in 6d to 2s 0d prem. (Is 6d, 1» 8d); Mahakipawa Id (Id): Waihi 13« 4d (13» 4d).

VIiSTER DAY'S TRANSACTIONS.

Tlnjre iw a good volume of bnsj- ■ •U yesterday,' the outstand. «n-beiag the jump ip CkwiSidney chares, which a* £23 10s. 'market SWw 60 bto€rs. f

Transactions, exclusive of vestibule business, included:

£2309 Westport Jiorongh 6 per 6ent. 1940 Debentures. 100 Australian Bunk of Commerce. 450 Commercial Bank of Australia. 75 National Bank of Australasia (£3 paid), 300 Dank of Now Zealand (cum div.) 200 National Insurance. 1100 NeW Zealand Breweries. 2-5 Tooths Brewery. t>oo British Tobacco. 10 Commercial Bank of Sydney. A parcel of Westport Borough <J per gent, 1910 debentures changed hands at £lO2. Commercial Bank of Australia shares remained unaltered at 21s 7d and there were further sellers at that figure, buyers at 21,s 6d. Australian BanU of Commerce shares were linn at 25s 3d and there were further unsupported sellers at that price. National Bank of Australasia, £5 paid, shares advanced to ;C7 12s Od. Bank of New Zealand cum dividend realised 58s IOJd. Buyers of Union Bank of Australia raised their bids to £ll 15s, Kellers at £l2. National Insurance wero fraction' ally weaker with business at 14s od, market closing Us 4d buyers, 14s 7d sellers. Weetgort Coals, "«x dividend of 4 per tent., were wanted at 30s 6d, no sellers offering. New Zealand Breweries shares Were active at 525, sellers staying in at that price, buyers at 51 s lid. Tooths Brewery shares had daalin-rs at 35s and 34s 8(1, closing quotes 34s 8d sellers, 34s 6d buyers. British Tobaccos hardened to 40s 3d and 40« fid. market closing 10s 3d buyers, 40s Gd sollers.

AUCKLAND REVIEW.

(THE PRESS Special Service.] AUCKLAND, May 30, Brighter conditions generally existed ou the Auckland Stock Exchange during the current week, and ftrmer levels prevailed in practically all sections of the market at the close of business to-day. Trading was moderately heavy on oach day, except today, when business locally was quiet, qu a firmer market. Although it cannot be said that the market is definitely on the up-grade, more optimistic reports from those in close touch with financial affairs in Australia seem to indicate that at least there is a feeling of greater confidence in the ranks of investors.

Gilt-edged investments have continued to command firm support, and business was fairly active in inscribed stock at current levels. Banks lod the way in thy upward trend, and interest i»i all listed stocks was ou a firmer bams to-day. There were few imtabJe movements in the loan and ugencv croup, and all interest in coals suddenly relaxed to-day, Grey Valleys bt'ing the only shares sought, although sellers of most issues quoted. In gajs attention was -confined to Aucklfihas, which made a further advance of Sd to 24e 6tJ, To-day, buyers were offering 3d less than a week with sellers firm at 2.55, Shipping interests claimed firmer support, and in several in-, stance* offers dosed on a higher basis. General investments were stronger in tone. Mirr'ng investments were quiet. Mount Lyells continued to improve, and advanced from 28s 9d to 211 s 6d. Wuihis. on which the dividend was rcoently paid, ware done Is lower at ]% 4d, and again a shade better at 13# 4Jd.

GENERAL MERCHANDISE.

GROCERIES. Turnover during tho pai>t week b«ou up to expectations, and business is reported better thfto rumour* imply. Egg* are (till comwundlnf v«ry iiJi'h prices, but butter is weak and in fair supply for this time of the year. Tho proprietors of several weii-kaown brands of cigarettes have issued a new aeHing ba«i» fpr us« by merchants to retailora. Thin now list operates as from June ISfh, and it is not expected that the retail prioeq will be altered. At present Horn? shops Kfltsll clsarettea at practically coit " nutlfaliM of ilildura currants and sul* tJhM h»ve landed ex the steamer Sd4 fcftV# met with a ready demand. , WSflSrom .spd vermicelli, by the same land«d at a slight reduction in price, *U» to «»*Ur prices in Australia for flour. A move hag beeu started to obtain the prohibition of importation of foreign walnuts. The reason tor this is that at present walnuts from China, Italy, Rumania, and Syria can be landed in Naw Zealand (despite 2d duty) at prloes wbicli are a good deal below - local-grown value*. To give some Indication »f to values; walnuts grown in Italy were offered this week on the tendon market for shipment at about 58* cwt, whilst Syrian grade were 7l cwt below this. Rumanian walnuts which have been imported are of good quality, and not too bard in the shell, but tjiey are subject to grub, and importers should Be very careful before accepting delivery to see that these nuts are frco from jrub when opened. • Vory -often there is ho sign of grub en the outside of the' nut, (be grub Is inside the shell, and does not came out until ready to fly away aa a moth, The grub aoneumes fhe kernel, and leavei only the shell—which looks perfect outside

New quotations are out this week. for Zanzibar cloves, and prices are low, and worth attention. New crop Barcelona nut kernels are quoted for September shipment, but prices are .hlgb-Hn fact, uoduly high, It is net expected that much bwi* 3o Will result, us tha price is out of proportion to that ol Brail! kernels, which ftre worth fully 30 ptp cent; more than Barcelona kernels, hut at the, present basis Bra*il kernels are only about Sil lb above Barcelonas.

Whilst New Zealand millers consider flour worth 'an increase pf 10s a ton, the Australian market tor fiqur in reported weak, Ther« is every indication that before long shipment* of Australian flour will be on thia market, »• already some' Australian miller* are-making enquiries a« to the position of the New Zealand market, with a view to shipping here. A circular Issued thlß week by a selling ajent for a Oalifornisn export house advises a. lower market for prunes, all grades. J'or some time prunes have been too high, and thia.hft» earned a slackening of orders. Crops were light according to reports, but a light crop in California still supplies onor r moos: quantities. Sales have not been as large as expected, and prises broke, There la no wqrd as to how this came about, but the fall is aubatantial, being 6s 64 per cwt 01? •mailer siswa and up to 10s 6d per cwt on thr law* varieties. , This (all should assist buyers, but caution must «till be exercised, as even now the market is a long way ahead of last year s figures. An attractive Quotation was issued this week for Sicily almonds for prompt shipment from liondon. but as the quotation was only c.i.f. the exchange must be added, and that is 6J per cent, additional. This will make well over £7 a ton to add to the price quoted on a c.i.f. basis. New FeasoP's Smyrna figs are quoted at a considerable advantage over last year's prices, even after allowing for the additional exchange. Orders booked will be (in the . ease of some brokers) subject to a fall clause, and this wilt make buying quite safe. The reduction in price of new season's figs eompared with last season's prices is roughly S« 8d per. owt op linen bags, 10s per cwt on lOoz gloves, and 8e 6d per cwt on standard grade 101b layers. At these' reductions the fijje this coming year should command a very Urge Sale, Sew season's ground almond*, Turban grade, pure almonds, are being offered in 141b and 281b vacuum tins, at very favourable quotes. Delivery will not be available until about the end of November, but that give ample time for Christmas trade. The market for Smyrna sultanas is inclined to lift, and already one shipper advises that he cannot confirm unless buyers aar«e to an advance of 3a 6d per cwt on fp'Teyown trade- This iudicatee » higher market. . Shipments of salt from Liverpool, which have recently landed will bo quoted #♦ slightly increased prices, due to l)l«rber landing costs. This is due solely to the e*tro ffflhanaa, which is to about 4a a ton en ewts and 7s a ton on 71b bag*.

Honcerns merchandising products of guo£ quality can devalnn the un paralleled sales opportumtiea in t'antorbury most effectively and most economically through the advertising •olurami of Tan PjWWB. —6