FINANCE AND COMMERCE.

Press, Volume LXVI, Issue 19972, 5 July 1930, Page 14

FINANCE AND COMMERCE.

SHARE MARKET. WEEKLY REVIEW. The volume of business recorded on the Metropolitan Stock Exchanges for the week just closed shows a falling off as compared with the previous work. Prices fluctuated somewhat and while come stocks made headway there was on the whole a downward tendency, and investors proceeded more cautiously for other than the most popular investments. The following is st comparison of the daily recorded turnover on the local market for the past fortnight:— This week. Last week. n a ftjaturdav .. I/100 11,010 Monday .. 4,928 3,367 Tuesday .. 2,050 0,090 Wednesday .. 2,480 0,310 Thursday .. ,'i,711 5,970 Friday * .. 4,906 2,932 £ 19,570 ii 26,685 Of this week's total Bank shares accounted for £7945, Breweries £2632, Tobaccos £2366, Lyells £2507. New Zealand Government 4A per cent. IV3B Stock was firm at £99 ss, and late buyers are offering that price without attracting sellers. Four and a half per cent. Bonds, due 3930, remained unaltered at £99 15s. At £99 7s 6d, CJ per cent. Soldiers' Settlement Loan Bonds, due 1933, showed an easing of 2s 6d on last week, and more are wanted at £99 7s 6d, but holders are reticent. Glaxo 6} per cent. 1945 debentures •hanged hands at £9O 10s. In the Banking section business was well spread. Australian of Commerce weakened to 235, 23s Id, 23s 3d, and 23s 2d. Commercial of Australia had dealings at 21s 3d, 21s 2d, 21s Id, and 21s, as against 21s 9d to 20s lid last week, and late sellers want 21s id, buyers at 21s; the preference ranged from £6 12s 64 to £6 lis 9d —dealings a week ago were at £6 lis 6d, and £6 13s 3d. For Commercial of Sydney, which dropped to £2l last week, unsupported sellers are asking £2O 12s 64. English, Scottish, and Australian were active, and moved between £6 Is and £5 19s 3d, as compared with £6 to £6 2s. National of Australasia £lO paid declined to £l4 14s and £l4 lis 6d, and the £5 to dealings at prices ranging from £7 4s to £7 2s—elosing quotes for both issues showing an casing tendency. National of New Zealand, com dividend, are available at £6 Is, buyers at £5 15s. New South Wales, which recovered to £3B 10s last week, were this week released at £3B Ss 6d and £3B 12s 6d, and more are offered at £3B 12b fld, buyers at £3B 7s od. New Zealand moved on a lower level with dealings at prices ranging from 57s 10d to 57a 64, and late sellers arc asking 87s od, buyen 2d below. Union Banks realised £ll 18s (last week £ll 12s and £ll 17s 6d). Australasias are offered at last week's business figure, £l3 10s, buyers at £l2 ss. Insurance and Loan and Agency. — New Zealand Insurance showed a downward movement with business at 47s Had 401 fid. gouth British ran dowij from 50s 44 to 60s. and more are on offer at 60s 64, fatty era at 58s 64. (Queensland were placed at 00s. Dalgety and Co. realised fill 2s Od, but closed weaker at £ll sellers, £lO 12s 6d buvers. Dominion Investment and Banking were taken at Ms/aM farmers' Cooperative Auctioneering "A" preference ut 18s, Goldsbrough, Morts showed little variation with transactions at prices ranging from 29s 4d to 295. Newton King preference wore placed at lis 74. New Zealand Guarantee Corporation remained unaltered at 7s lid. United Building Society moved up to 13* lid, and more are wanted at 15s 44, sellers at 15s 9d.

Shipping, Frozen Moat, Woollens, Coal, and Gas. —Northern Steams were Grip with business in the fully paid st 14b Gd, and in the partly paid at 6s fld. There is a closer market for P. ami O. Deferred Stock with buyers at 4% 3d, sellers at 445. Gear Meats changed bands at 37s 6d and 87s, as against 37b last week. N.Z. Refrigerating 10« paid, which relapsed to 5s 3d » we«k *lp, »M DOW available at ps Z&, buyer* at 4g Quotations for Woollen Company shares show little wovement. Grey Valley Collieries hardened to 24«. Pnlpsiiroß had dealings at 66b. Renown ordinary were placed at lSa and 15s 34, **>4 the New lame preference at 2s Bd. Westports advapced to 31s 3d, and there are farther buyers at 31a id, oo sellers. Auckland Gatl faily paid hardened to 2S» 64 and 2fls, Cbristehurch eased t# 26s and 88s lOd. Wellington ordinary remained at 80s 6d, Breweries—K«w Zealand* at price* ranging from 80s «d to 525, attrasled the bufll Of ftp turnover i(s this sec. tlon (lilt weed's range was from 50s to tts). Twlwyp at 21« 3d showa drop of 2s 64 on previously recorded busiMU. Tooths, which eased to 84s 8d and 33b 1« a knight ago, dropped to 318 ad, and wore a/e available at 31b 3d, bnyare It 31b. For Staples, In Which reeent dealings have been at 47* 6d> nn*»)>?prted sellers are asking <7 *i, the Miscellaneous Investment Section the following transactions were *eeorded-*figureß in parentheses indl* eating prev»ous : bufinesss—Booth, Mae* deaald (prcf.) in sd, 4s 9d <4* H 48 4d); British Tobaccos, cum dividend, cased to 39s Id, and ex dividend of B per cent. Weakened from 88s Id to 36s 9d. Colonial Sugars changed lianas at £42 2* fld and #42 (£42 ss, £42 10s). Dunlop Rubbers steadily declined from 19s 6d to 12s Sds Electrolytic Zinc preference ■ were easier at •3s 3d (23s lid to 23s 4d)—the .ordinary reached a new low level with business at 20a 3d. Mount Lyells, ex the rights to one new share for every five Mid, were turned over at 245, 24s 93, »4« 7d. 255, 24s fld, 24s 7d, and 24s Bd. yjS, Drugs at 05* showed no variation. y.Z. Farmers' Fertilisers, cum dividend, advanced to Sis. Unsupported sellers of Wilsons Cements atfe offering at 44g 9d, the price to which these (hares' cased at tho close of last -we<jk. Goldmining—Mahakipawas moved ur» to 2Jd and 2<L Okaritos went from 8« 2d to 7s 4d, as against 8s 10d to 0s 3d to 7s 9d last week; Paddys Point hardened to 4s 6d and ss; CornJ«b Point Is paid were fractionally weaker at 8d: Waihis ranged from 14s 3d to 14s 9d to 14s 5d (last week 13s id) and Grand Junctions, which have fkeen Inactive for some time past, realised it 9d.

" " /- TEBTWDAT»S TRANSACTIONS. The recorded h«i«ine&» <>n e&H yesterday was the heaviest for amy 'H? this week, bank shares, breweries, totweeae sad Lyells attracting .the balk «f th« Tfftasaeti^ns, 4**?** of tiiMtal* bnnfoeid, 400 Australian B*»k of ComraerM. TO It. 8.. and A. Bank. T8 Bank ot Amrtraltiia " ■( £& plid), ' WO 4e*.and liwraace. MD GoUU&ough. Mart. ... 40Q^^^^Dd^reweri&s.

| 400 Booth Macdonald (prof.)4430 British Tobacco. 100 Dunlop Perdriau Rubber. 200 Electro Zinc. (ord.). 400 Mt. Lyoll. 2000 Mahakipawa Goldflelds. " Australian Bank of Commerce shares were fractionally firmer, with dealings at 23s 3d and 23s 2d. and there were further buyers at 23s 2d, sellers at 23.s 3d. English, Scottish, and Australian Hank shares weakened to £5 19s 3d, and there were further sellers at that figure, buyers at £5 11K National Bank of Australasia £5 paid shares remained at £7 2s, market closing weaker, with buyers afc £7, sellers at £7 Is 6d. Bank of Now Zealand shares wero easier, with sellers at 57s Gd, buyers at 57s 4d. New Zealand Insurance shares declined to 46s Gd. closing quotntions 3d on cither side Goldebrough. Morts relapsed to 295, and there were further unsnnported sellers at 29s Id. Buyers of United Bnildine Socioty shares moved up to 15s 4d. sellers at 15s 9d. Wesport Coal C'oinpanv shares were stronger on buyers' offers 31.a 4d. no sellers. New Breweries showed strength, with donlings at 525, and 51s TOd Tooths Brewery shares eased to 31s 2d. market closin" Id on cither side. Booth Macdonald preference shares were firm, with dealings at 4s 9d. and further buvers at that figure, sellers nt 4s lOd. British Tobacco shares were easier, with dealings at 36s lid, 3Gs 9d, and 36s lOd. and there were further sellers at 36s lid, buyers at 30s 9d. Dunlop Rubbers dropped to 12s Bd. market closing 12s 7d buvers, 12s lOd sellers. Electrolytic Zinc ordinary shares fell to 20s 3d. closing nuotitions Id on either side. Mt. Tj-trells relapsed to dealing at 24s 6d, 24s 7d, and 21s Bd. and more were offered at 24s 9d buyers at 24s Gd. Mahakioawa Goldfields shares were a shade easier, with sellers and bus'ness at 2d buyers at lid. Beath and Company shares Is paid were ovoted Gs 3d buyers. 7s sellers. Shareholders were rerentlv circularised advising that they would be g'ven the ontion on August 19th of paving in f"ll the balance duo on share* to enable fViem to narticipato in dividends as from that date.

AUCKLAND REVIEW[IJTE PBESS Special Service.] AUCKLAND, July 4. Erratic price movements marked tracing on the Auckland Stock Exchange during the past week, the uncertain tone of the previous week continuing. The volume of business did not show much variation from day to day. While some sections of the market were firm, weakness in others was partly attributable to Australian Associations. The tone of the news from the Commonwealth during the past few days was not indicative of moye stable financial conditions in the near future. Government investments are still being firmly held in faco of a steady enquiry. Banks tended to ease, but were not extensively dealt in. Commercials of Australia were active, selling Steadily at the unchanged prico of Sis 3d. The preference iseue of this bank was dealt in at a slight advance. New Zea* lands weakened in four transactions from last week's price of 5Ss, down to B7s 4ld to*day. Two lots of E., 8., and A.'» changed hands at £O. The contributing issue of Nationals of Australasia had sale at £7 4s early in the week, jind later quotations weakened in pyjnpathy with sates in the south. .Insurance shares lost little of their strength. Now Zealand® fell fld to 46b 6d and South British were done 3d cheaper, at 50s 3d. In Loan and Agency dealings wtire confined to single sales of Gold-broug'a Morts. at 29s 3d, and Farmers' Co-operative Auctioneering, A pref., at 18s. Coal shares attracted fair attention. The few dealings in general investments tended towards lower price levels, an exception being N.Z. Farmers' Fertilisers at Sis. la Mines, Walhis which sold at 13s Od last week, jumped to 14s 9d on Monday, and sold freely throughout the week at values which eased to 14s 2d. Mount Lyells fell Is fld to 24s Od, when rights to the new Issue were withdrawn. Hales of rights opened at 4s and fell to 3s.

GENERAL MERCHANDISE. GROCERIES. Buyinftli during the Wt *«»« be / n quitter than l<">t week, but % turnover » M July is esptoted to be up to the sverage f?r the period last year. The demand for grocery Una* is fairly constant, and although st various times of the year, aoooruwg to seasonaßie empioy i went, (tiuterent lines fall otf in mle> the average 1« thirty ma,nti>lued. Winter oattses some line? to be neglected, whjUt H inoreates the °t oners (which »re seasonable) Slid turnover II wain famed wore evepiy than outs.dera contemplate. At present all oaten breaitfast food* are in good demand, and the marKot 1» well supplied with stocks of different brands. U'tia egg market Is inclined to weftfc«o • Utile, but net rouch movement usually takes pUoe until August, when heavy drops in tftlqei hsvs ecaurrod eaoh year for several yO)Pi» A line oi condensed milk .to the usual family slee tint# atid 5J»4® 100 Ally # hit appeared on the market* This Uoj li Wel« corned by probers. 'XliJi il flMt tl©# condensed milk has boon manufactured ia Canterhury, nil supplies in the p»«t coming from outside the province. Onions at the present time are oheap. Lines showing keeping qualities should be considered by grocers, who should remember that each yefir, as October approaches, onions usually go to high figures, and imported lines command very high rates. A slight reduction has taken place in Ban Francisco for prunes for immediate shipment. Ohoico quality outside prunes, n»w seaaon'l, Die now quoted, fur 70«a0 , a t 48 3d cwt below present stocks for M»e SisSi whilst the difference in favour Of tievr crop on the 80.00 grade i* 5s 9d per cwt. New quotations are being circulated for new season's Jordan almonds for November arrival. Prices are not as low as some people expected, but nevertheless they are quite attractive and worth attention. Two drops In prices of Jordan# have occurred within the last ten days. This fall refers Only to new season's pricesShelled peanhtii were again offered this week at prices which must leave little or no profit for the producer. Never in tho history of the fruit trade have shelled peannts registered so low a price at f.o.b. Even With exchange added, and frejghts as well, the prices thon are very low indeed. A well-known lino of canned raspberries (dessert) have been reduced slightly in prloe. „ Tho familiar pack 56's of molasses will no longer be seen. Owing to scarcity of petrol tins the Sugar Company advises that it has had to take this else off its list. There are still the 54's drums and bwrels available, but this means that the grocer will hsve to do Ms own repacking In future, llie market for tinned beef is weak, and several packers have reduced their prioes. Homo North Islftnil packers have dropped the nr<ees by a bifßer margin than others, the fell .being, in one instance, Is a dozen on 21b, ftnd, in Another esse, the redaction Is tnr""h more thin this. The usual Colombo tea sale was held on June 24tb. and S.OOO.OOO'b wwe offered, fceln* a rather larger eata'ocrue than üßtial. Oood grade teas were In demand and well competed for. In some oa&fs advnnces uu to l]d per were recorded for flrst-erada lines of 8.0.P. Common toas were not In demand, but nevertheless the market for these grades held to previous rates.

MELBOURNE MARKETS. (tn/tttfv nui ' l^wtiuo TFxiowMf—comwatrr.^ JtffILBOtTRNE, July t. Market quotations arei— Wheat— 4g 3d to 4s 44 a bushel. Flour—£ll to #ll 5» a ton. Bros tod pollard—£7 IBs a ton. Oats—>s 04 » bushel. Birley—lngJlsh Ssfld to Js Id a bails*). VlliMi •• H 94 » bubal.