SHARE MARKET.

Press, Volume LXVI, Issue 20026, 6 September 1930, Page 12

SHARE MARKET.

WEEKLY REVIEW. The number of recorded transactions oa the Metropolitan Exchanges for the past week shows an increase on the average for the previous fortnight, and although several stocks either held their previous position or recovered part of the decline, price movements on the whole were in favour of. buyers. Banks and breweries shares held pride of place for popularity with investors, and there was a good volume of business done in debentures. This Last Week. Week. £ £ Saturday .. 810 784 Monday . ■ 2,788 4,270 Tuesday . • 6,025 3,504 ' Wednesday .. 2,546 3,057 Thursday .. 4,170 3,321 Friday .. .. 3,042 3,088 £19,387 £18,024 Of this week's total bank shares accounted for £6068, brewerieß £4102, tobaccos £IB6O, debentures £0350, pastoral group £IOSO. Government issues were in keen demand, and prices were firm. Four and a half per cent, tax free Stock, due 1938, changed hands at £IOO ss, and the Bonds, due 1938 and 1939, at the same figure, market closing firm for all issues. Five and a half per cent. Stock, due 1933, advanced to £99 7s 6d and £99 10s, and late buyers are offering £99 7s 6d, no sellers quoting. Five aad a half per cent. 1936 issues, which realised £99 5s last week, have buyers at that figure, but holders are reticent. Wellington City 5h per cent. 1934 debentures realised £9B 15s, and Booth, Macdonald 6J per cent., 1932, £69. In the Banking section business was well spread, and in some cases prices showed slight recovery from the low levels reached a week ago. Australian of Commerce had dealings at 21s and 20s lid and 20s 4d. Australasias, which eased to £ll 10s at the close of last week, now have buyers at that figure, sellers a day or two ago at £ll 17s oa. Commercial of Australia sagged from 19s 9d to 19s 6d, as against 203 Id to 19s 8d last week —the new 5s paid realised 9s Id. Commercial of Sydney, which dropped to £l9 10s and £l9 7s 6d a week ago, had dealings this week at £l9 10s, £l9 9s, and £l9 7s, market closing £l9 5s buyers, £l9 10s sellers. English, Scottish, and Australian Bank shares, which closed at the low level of £5 -10s last week, ranged this week from £5 12s to £5 14s 6d, and late sellers want £5 14s 6d, buyers at £5 lis. National of Australasia folly paid dropped to £l3 15s, and more are available at £l3 10s, buyers at £l3—the £5 paid shares at £6 15s 6d and £6 16s were on a par with highest recorded dealings last week. National of New Zealand were turned over at £5 14s and £5 14s 6d. New Sooth Wales changed hands at £35 5s aad £35 2a 6d, as compared with £35. 10s to £35 2s 6d last week, and closed weaker at £34 17s 6d sellers, £33 17s 6d buyers. New Zealands hardened from 56s 3d to 66s 9d, closing at 56s 6d buyers, 57s sellers. Union Banks were placed at £lO Bs, £lO 17s 6d, and £lO 6s, as against £lO 10s to £lO 5s last week.' - -

Insurance - and Loan and Agency.— National Insurances remained unaltered at 13a- 9di New Zealands were firmer at 42s 6d. South British moved between 57s ands7s 9d, find there axe further buyers at the highest price, sellers at 58s 6d. For. Standards, ex dividend of Is £d per 'share, unsupported sellers want G&s. JDalgetys eased to £9 108 6d, and more are on offer at £9 10s, buyers at £9 ss. Goldsbrough, Morts moved up to 24s 9d at the beginning of the week, later eased to 24s 3d, 245, and 23s lOd, and dropped to 22s lld aud 21b 6d. Permanent Invest* meats, .in which last recorded turnover was at £ 10'2s €d, had steady buyers at £lO 4s, lowest sellers at £lO 12a 6d. United Building Society sh&res advanced to 16s3d. Dominion Investment and Backing shares were firm at :20s. , s Shipping, Frofeen Meat, Woollen, Goal, and Gas.-—New Zealand Refrigerating N shares were fractionally weaker, with doidings in/the fully paids at 10a 2d, and in the partly' paids at 4s Id, 4s, and 8s lOd. The market for Shipping -. and Woollen Company shares was dull, and no sales were recorded. Pukemiifo Collieries were slightly easier at - 52a 3d. For Westports, which .eased to -90s 8d and". 31s last week, buyers ar& offering 38s, sellers at 31s 9d. Dn. Supportedsellers want 27s 3d. for Tanpiris," in which last recorded'dealings were at 275. and 26s lOd. Aucklaiu Gas, 15s paid, were placed at 173 3d. Christchurch recovered to 24s 3d. Breweries-Tin this section prices weakened—New Zealands fluctuated from ..49s 5d- to 48s 6d to 49s—with further sellers at the latter price, : buyers at 48s 4d. Staples, which fetched 44s and 43s 9d last week. ; dropped to 42s and 41s. * Unsupported sellers of Oarltons during the week reduced their limits to 26s and Tooths, in which business a fortnight ago was at 28s 6d, are now available at 235, buyers at 2ls 6d. • In the' Miscellaneous Section British Tobaccos, cum quarterly dividend of 3 per cent., were most popular, and priees mpved from 33s 3d to'B2s- 3d to 32i 7id to 31s 3d, as againist 85$ 6d to 32k 3d to 33s last week. Burns, Philps weakened to 30s sellers 28s buyers' a day or two ago Colonial Sugars fell to. £33 and £32 10s. Dunlop Rubbers dropped to 12s 8d and 12s, and late sellers. are asking lis 9d. buyers at lis. Electrolytic Zinc preference , shares, ex dividend'; were taken at 208 4d. Farmers' Trading realised 7s ;9d. , Howard< Smiths-ordinary were - placed at 14s. Mt. Lyells had dealings ;> at. 90s lOd, 20s 6d. and 20s 4d. as. . against 22s 4d to ' 20s 9d last week, aild closed weaker at 20s ;2d sellers, 19a 9d buvers.. New Zealand' Drug • Company shares, com dividend, eased to t 60s 6d. New Zealand Farmers' Coop.. 61 per cent., 1939 stock, changed bands at £75. New Zealand Farmers' FortiliMr* wore turnedover at 18s 9d. Taranaki Oilfields bad business at 2s. ascompared with 2s 4d to la 5d last week. Thames Theatre advanced to 13|. Wilson's Cements showed no variation with dealings at 89s lOd and ' -404. . ■■ In gold mining stocks. Mahakipawas w«re easily the most active, and pnce<i steadily moved no from 3d to 4Jd. Okaritos were released at 7s 7d and 7s 6d. as' 7s 3d to 7s 'flat week. ; Paddv's Point were fraction? llv Weaker at 2s 9d and 2s lid. Waihis were firm at 14s id.

YESTERDAY'S TRANSACTIONS. . There was a good volume of diversified business on call yesterday with prices for one or two stocks reaching low levels. Transactions, exclusive of vestibule business, included: 100 Australian Bank of Commerco 1,00 Commercial Bank of Australia W National Bank of New Zealand. IfiO Bank of New Zealand, lo .Union Bank of Australia. - 200 National Insurance. « „South British Insurance. ' * ' 159 .GoMsbrough. Mort. 2QO N-Z, Refrig. (10s paid), k ■ WO Stßpleß Brewery. I'.V IW 1 Tobacco (cum div.). Il' - jSawF*! o ? Pordrmu Rubber. I J Zino (pref. ox div*). Kv' #OO 'Mflmpjfttwm QoMMi*, ■ ' ,

New Zealand Government issues were firm at recent rates. Australian Bank of Commerce droped to 20s 4d, market closing 20s buyers, 20a 6d sellers. Commercial Bank of Australia remained at 19s 6d and there were further sellers at 19s sd, buyers at 19s. National of New Zealand shares had dealings at £5 14s Gd and £o 14s. and more were wanted at £5 13s 6d, no sellers. Sellers of Bank of New South Wales shares reduoed their limits to £34 17s 6d buyers at £33 17s 6d. Bank of New Zealand shares were firm at «Cs 9d, closing quotations 3<l on either side. Union Banks relapsed to £lO 6s, market closing 6d either wav

National Insurance shares were firm at 13s 9d, closing quotations 2d on either side. South British Insurance shares were firm with dealings at 57s 9d. buyers staying in at that figure, sellers at 58s 6d. Goldsbrough, Morts dropped to 21s 6d and more were offered at 21s Bd. buyers at 21s 3d. New Zealand Refrigerating Company, 10s Daid shares were fractionally weaker at 3s lOd. Staples Brewery shares fell to 41.5, market closing 41s buyers, 41s 3d sellers. Tooths Brewery shares weakened to 23s sellers. 21s 6d buyers. British Tobaccos were written down to Sis 3d closing quotations 31s Id buyers, 31s 4d sellers. Dunlop Perdriau Rubbers fell to 12s and there were further sellers at lis 9d, buyers at lis. Electrolytic Zinc Preference shares, ex dividend, were taken at 20s 4d. Mt. Lyells were weaker with dealings nt 6d and 20s 4d. and further sellers at 20s 2d. buyers at 19s 9d Mahakipnwa Gold fields shares were a shade stronger with dealings at 4§d, and further buyers at that price, sellers at sd.

AUCKLAND REVIEW. [THE PEESS Special Servlc*.] AUCKLAND, September 5. Investment business on the Auckland Stock Exchange improved in volume during the current week, but lower levels persisted generally except in the case of Government securities which, in response to a strong and unsatisfied demand, were firmer. Practically no business, however, was done in that class of investment. Only one transaction was completed in the week. 1933 5i per cent, inscribed stock changing hands 2s 6d better at £99 7s 6d. .

Banks were most popular with investors and that section easily provided more sales than all of the other sections. Apart from New Zealands values in every instance were on a lower basis. Loan and Agency «.nd Coal shares were dull. In Gas sales of the contributing issue of Aucklands were completed tor the first time since the recent payment of dividend 9d lower at 17s 9d.

A better enquify was tnade in shipping without business resulting. Breweries had a quiet time with values for New Zealands much weaker. The downward tendency persisted in general investments with the chief exception of Wilson's Cements, whicn changed hands a number of times at the current price of 40s. In mining investments firm levels ruled for Waihis, which closed with a tendency to advanoe. Interest was also taken in some southern issues. Paddy's Points recorded, two sales, advancing; from 2s 9d to 2s lid, while Mahakipawas were done at 3d. Mount Lyells were not much in favour and after lowering their offers to 20s 3d, buyers withdrew from the market at the last.rail to-day.

GENERAL MERCHANDISE. GROCERIES. Reports during the woek dhow that tho volume of trade is quite good and moving forward. Most retailers have kept stocks down, consequently the recent duty increases caught them with bare stocks and wholesale buying ia now j;oing on freely. . Eggs are coming in in increasing quantities and preeciving requirements are absorbing most lines. Indian lentils for arrival in February are now offered at very favourable prists, and retailers should consider covering their requirements. Chinese peanuts in the shell tor January arrival are riow at record low rates. This line last week was below £2O per ton, f.0.b., being the lowest price for many years Owing to the exceptional value offering in bulk teas the public are finding many lines worth attention, and thiß trade is developing rapidly. Soap markets are weak, and several lines have declined. This should stimulate sales and imnrove the soap trade. The Californian prune market dropped again- this -week, and amended lower quotations, are out, 1 Importers must , place oriera before " the middle of September to catch the first steamer carrying new crop fruit. New season's Californian muscatels in cartons are very low and worth the attention of buyers, as the offering ie a very attractivo lini for the Christmas trade at well under Is.

Chinese walnuts halves. December arrival, arn now available at exceedingly favourable prices. This must cause a bigger demand, especially for the Christmas trade. Importers shouM protect themselves by insuring against loss through grtib, &a i„ the past .-walnuts have been condemned on arrival and destroyed. This can now be insured against at a reasonable premium.

FROZEN MEAT.

SMITHFIELD QUOTATIONS.

Dalgety and Company, Ltd., have received the following cablegram from their London office, dated September sth:—' New Zealand Frozen Lamb—Market weak. Demand runs principally on heavy weights. Quotations:— 28-361b Canterbury BJd North Island 81 d 36-421b Canterbury 8M ' North Island 6ld find quality Canty. 7d North Island 7d 42-SOlb Canterbury B}d North Island Sid New Zealand Frozen Mutton- Market unchanged. Demand limitod. Quotations' - 48-561b Canterbury 5d North Island 4|d J6-P4lb Canteibury 4gd North Island 4gd 64-721b Canterbury 4Jd North Island ljd Ewes, 48-641b Can. Bjd North Island 3d : Beef—Market for New Zealand' beef unchanged. Demand poor. N.Z. prime ox hinds 5d Fores 3Jd Argentine chilled

hinds .. 6Jd Fores .. 3Jd Pork~MaTket firm. Demand limited. Efcjdish narke», 80-lOOlb .. .. 9d N.z. porkers, 80-1 oolb .. .. 8d N.Z. potkers, JOO-1201V .. 7jd

CALL MONEY. 'tnnTsi* vr-.uss isaocaATioK—by emsctsic TELEOBAPH- -COPYRIGHT.) • NEW YORK, September 4. The call money rate of renewal was 21 per cent, all day. PROPERTY SALES. H. O. Smith, of the City Market, reports having sold during the last few weeks the following properties:— Account Mr E. E. Pulley, his fine agricultural farm, comprising approx. 200 acres, situate Loburn, to Mr Telford. Aeconnt Mr S. Morrish, Banglora, milk round of 80 gallons, to Mr Wnddell. Account Mr Partridge, of Southbrook, his leasehold dairy farm, together with stock, as foing concern, to Mr Pickup. Account Mr Quinn, his dairy farm situated at Ohoka, comprising 60 acres, together with lite and dead stock, to Mr Scales. Account Mr Hammond, his milk round, situated Linwood, to Mr Sutton. . Account client, his fine bungalow, situated Walrarapa road, to Mr Quinn. Account Mr McKeown, his leasehold dairy farm and residence, situated'- Opawa, to Mr Thomson. Account Mr Booth, leasehold poultry farm, Sprtydon, to Mr Carr. Account Moncrleff's Estate, IS acres and residence, situated Walrarapa road, to client. Tk* total zealtsatlon was £0620.