SHAKE MARKET.

Press, Volume LXVIII, Issue 20470, 13 February 1932, Page 12

SHAKE MARKET.

WEEKLY REVIEW. Broadly speaking there was no im?'ri- cmciit in conditions on the Affiliated .Stock throughout New Zt'ulanu during thu past week, but a * airly cheerful tone was maintained. ;r.;.-orded business in some sections, <.•?]•* cialJy gold mining;, banking, and ru-ior:showed expansion, and price 'j;u\cnients generally ■were in favour «•'" btiyiT.-. In the market for gilt-edged -•■• unties there was a good volume ot' business and prices on the whole moved -vithii. narrow limit?. The following is i eomparibon of the daily recorded turner er on tb>j local market for the past I'ortni^ht This Week. Last Week. £ ;C .-•.-i turd:, .r ... 2,134 191 Monday . . 2,680 1.143 Tutiday .. 2,900 3,030 Wi/dues-day . . 5,383 3,647 Thur.-'j:iy -- 3,476 5,1321 Tridny .. 3,430 1,990 £20,012 £ 14,542

An analysis of this week's total gives the following results—last week's Jig urcs in parentheses:—Debentures, C 9600 (£8700); Banks, £3238 (£1820); Breweries, £1035 (£.1149); Refrigerating, £497 (£597); Mt. Lyells, ti;44S); Goldsbrough, Moris, £1544 •, a:4J per cent. Tax Free Stock, ilue 1935, was fairly steady with dealings at iiS5, £O4 17s 6d, and £94 los, ;irid more is available at £95, buyers 2s 6d below. Four and a half per cent. Tax Free Bonds due 1939 were firm at £95; 5i per cent. 1937 Stock is on offer at £96 10s, the figure at which business was recorded last week, but buyers are reticent; 5$ per cent. Soldiers' Settlement Loan Stock due 1933 changed hands at £99, £9B 17s 6d and £9B 15s, and the Bonds at £99 and £9B 15s; 5} per cent. 1936 Stock was firm at £99 12s Gd and £99 10s—the Bonds remained unaltered at £99 10s; 54 per cent. 1937 Stock ranged from £99 17s 6d to £99 10s, compared with £IOO 5s to £.99 10s last week—the Bonds were tnrned over at £99 15s and £99 12s 6d 9.S against £IOO and £99 15s a week ago, and late sellers are asking £99 12s 6d, buyers at £99 10s. Christchurch Cir.y 5} per cent, debentures, due 1954, changed hands at £95 ss; Christchurch Tramway 4J per cent., 1934, at £B6; Christchurch Tramway 4$ per cent., 1934, at £9O 10s; Auckland Harbour 5} per cent., 1945, at £101; Auckland City •~i P er cent., 1949, at £95 10s; Gisborne Sheepfarmers 6$ per cent., 1941. at £77; Otago Harbour 5} per cent.., 1938, at £lO2 ss; Tamaki West Boad Board 6 per cent., 1963, at £lO3, and Milne and Choyce 6 per cent, preference at 18s 3d. Banking Section. In the Banking Section, Commercials and New Zealands were easily the most active stocks. Commercial of Australia fluctuated from 14s 6d to 14s to 14s 3d—last week's prices receded from 15s Id to 14s 6d. E., S., and A., which realised £4 6s 6d, last week, had recent bnyers at £4 6s, but sellers wanted £4 Bs. National of Australasia, £5 paid, had business at £5, and more are on offer at that price, buyers at £4 17a 6d. National of New Zealand had dealings at £3 lis and £3 10s 6d—last week £3 14s to £3 10s 6d—but closed weaker at £3 8s sellers, £3 3s 6d buyers. New South Wales, cum dividend, were unaltered at £26 ss, and £26, and late offers of £25 7s 6d failed to attract sellers. New Zealands relapsed from 45s 4(1 to 44s 7d, and there were further buyers at the lowest price, sellers at 44s lid—the "D " Mortgage shares are stronger on buyers' offers 26s lOd, no sellers. "Union Banks fell from £7 9s to £7 6s, £7 6s 6d and £7 4s, market closing £7 5s sellers, £7 3s buyers. Insurance and Loan and Agency. New Zealand Insurance, ex dividend of Is per share, weakened to 38s 3d—business last week cum dividend was at 40s —and late unsupported sellers are offering at 38s. South British were 6d down at 52s 6d, subsequent sellers. offering at that figure, buyers at 49s 6d. For Standards cum dividend of Is 3d per share, recent unsupported sellers wanted 455. Dalgety and Company shares are easier with sellers at £7 9s, buyers a £7. Goldsbrough, Morts fluctuated from 22s 6d to 21s 9d to 22s Id, with late buyers at 22s 2d, sellers at 22s 3d. For New Zealand and Biver Plato in which last week's business was at 21s, buyers are offering 20s, without response. United Building Society shares are easier with sellers at 14s 4d, buyers at 13s lOd. Shipping, Frozen Meat, Gas. Union Steam preference were fractionally firmer at 20s Id. P. and O. Deferred Stock buyers offered 25s during the week, sellers at 80s. N.Z. Refrigerating £1 paid, ex dividend of Is per share, had dealings at 10s 6d, and the partly paid, es dividend of 6d per share, were taken at 4s 3d and 4s. The markets for Woollen and Coal Company shares were dull and inactive. Auckland Gas fully paids remained steady at 225, and there were late buyers at that price, sellers at 235. Christchurch, ex dividend of 4 per cent., were weaker with transactions at 25s 9d, and 25s 6d, and late sellers are asking 25s 6d—buyers at 255. Breweries. In this section recorded dealings were confined to New Zealands, which recovered from 253 to 25s sd—last week' 3 range was from 25s lid to 25s 3d—and more are wanted at 25s 4d, sellers at 25s 7d. For Tooths, which weakened from 24s to 23s 8d a week ago, sellers are asking 245, buyers at 235. Staples, ex dividend of 3Z per cent., making 84 per cent., compared with 10 per cent, last year, were offered at 245, buvers at 21s 9d. Miscellaneous. Amongst the Miscellaneous Stocks Australian Glass eased to 28s, and more are wanted at 27s 6d, sellers at 295. British Tobaccos moved within last week 's limits at prices ranging from 26s 3d to 265. Colonial Sugars, which last week fell to £3B, this week recovered to €3B 15s, and £3B 10s. Dunlop Rubbers at 10s 6d and 10s 4d showed a decline of 8d on 8d on previously rec'orded turnover. Farmers' Trading were firm at 5s 6d. Kelburn and Karori Trams realised 275. Mt. Lyells weakened from 20s to 19s 3d—last week's prices ranged from 21s to 20s 6d—and more are available at 19s 3d, buyers at 18s lOd. N.Z. Drugs were easier at 46s and 45s 9d. Taranaki Oils were taken at 7d. For Wilson's Cements, which fell to 32s last week, unsupported sellers are asking 345. In the Gold Mining Section Golden D&wps moved erratically—prices eased from 7b 5d to 7c, then jumped to 9s, relapsing to 7s Sjd, and closed at 7s lOd—-

the local turnover was 2600 shares. King Kolomons were fractionally weaker, ' ranging from 2s to Is 9-Jrl, and closing at Is lid on a turnover of 200 shares. Mahakipawa shaded to 3d, 2ld, and 2d—3300 shares changed hands on the local market. Olcaritos, cum dividend, received from 10s to 9s 3d, and closed at 9s Od, locally 200 shares changed hands. Waihies were firmer with dealings at 17a Id and 17s 4d, and further buyers at 17s sd, sellers at 17s 9d. Fifty shares wore turned over on the locnl market. Grand Junctions eased to 3s 9£d and 3s 10d. YESTERDAY'S TRANSACTIONS. The volume ot" business done on call yesterday was the second heaviest daily total this week, and the bulk of the turnover was in Government debentures. Transactions exclusive of vestibule business were: — £.2000 N.Z. Govt. 5-\ per cent. Inscribed, 1933. 300 Commercial Bank of Australia. 230 Bank of New Zealand. 200 Goldsbrough, Alort. I 100 N.Z. Refrigerating (10s paid). .123 New Zealand Breweries. 330 Golden Dawn. 100 Dunlop Perdriau Rubber. 600 King Solomon. 300 Mahakipawa. 50 Okarito (cum div.). New Zealand Government 5$ per cent. Stock due 1933 changed hands at £9B 15s, market closing 5s on either side. Commercial Bank of Australia shares had dealings at 14s 2d and 14s 3d, and there were further buyers at 14s 3d, sellers at 14s 4d. Bank of New Zealand shares eased to 44s 9d and 44s 7d, market closing 44s 7d buyers, 44s lid sellers. Buyers of the mortgage shares advanced their offers to 26s lOd, without attracting sellers. Sellers of National Bank of New Zealand shares came down to £3 Bs, buyers at £3 3s 6d. Unsupported sellers of New Zealand Insurance shares reduced their limits to 38s. Dalgetys were weaker with sellers at £7 9s, buyers at £7. Goldsbrough, Morts had dealings at 22s Id, and there were further buyers at 22s 2d, sellers at 22s 3d. New Zealand Refrigerating 10s paid shares were taken at 4s, and more were offered at that figure, buyers at 3s 9d. New Zealand Breweries were fractionally weaker at 25s 3d, but late buyers offered 25s 4d, sellers at 25s 7d. British Tobaccos were firmer on buyers' offers 26s 3d, sellers at 26s sd. Dunlop Rubbers were fractionally weaker at 10s 4d, closing quotations 10s Id buyers, lis sellers. Golden Dawn Gold Mining shares recovered to 7s 9d and 7s lOd, market closing 7s 9Jd buyers, 8s sellers. King Solomons were firm with dealings at Is 10£ d and Is lid, and further buyers at Is 10|d, sellers at Is Mahakipawas remained unaltered at 2d. Olcaritos, cum dividend, hardened to 9s 6d, buyers staying in at that price, sellers at 9s Bd. Buyers of Waihi Mining shares raised their bids to 17s sd, sellers at 17s 9d.

AUCKLAND. [THE PRESS Special Service.] AUCKLAND, February 12. The outstanding feature of the week on the Auckland Stock Exchange has been extensive dealing in Government Loans. Prices have held fairly steadily; but under active trading, which has continued unabated throughout the week, there has been an inclination to easiness at the close. The greatest business has taken place in 1937 and 1936 5i per cents. Bonds maturing in 1937, which made £99 15s earlier in the week, were secured several times to-day at 5s lower; 1936 Bonds have remained steady at £99 10s, and Stock, after an easing of 2s 6d at the opening, has held firm at £99 10s. Similar rates have been maintained for 1937 Stock, of which a considerable amount has changed hands. Dealing has also taken place in 1933 5} per cents, at easing rates, the lowest being touched to-day at £9B 12s 6d, and in Tax Free 4-J per cent. War Loans, which have dropped below £95. The conditions in other sections were much weaker than hitherto, and the turnover has been exceedingly light, with perhaps the exception of mining. Banks are attracting very little attention. Some business was done in Commercials of Australia at 14s 3d and 14s, easing from 14s 6d, and New South Wales were done 2s 6d cheaper at &2G 2s 4d. New Zealands were taken a number of times 3d lower at 44s 9d. Tho dealing in other sections was almost negligible. In the mining section the principal movement on a generally firm market was an advance in Waihis. Offers were lifted 8d during the week to 17s sd; sellers asked 18s, and finally withdrew when buyers fell back to 17s 4d. DUNEDIN. [THE FBESS Special Service.] DUNEDIN, February 12. The volume of business transacted on the Dunedin Stock Exchange during the past week has been much greater than that of the previous week. There were sales of Bank of New Zealands at 45s 3d, two parcels being turned over at that figure. The close of the market found buyers offering 44s 6d, with no seller forward. Commercial Banks were first dealt at 14s 2d, but two sales took place later at 14s Id. Before the market closed there was further business at 14s 2d, and. the final oiler was 14s, with a seller forward at 14s 4d. Three parcels of Uniou Banks changed hands at £7 6s (ex dividend). These shares were 9S °ff er at the close of the market at £7 7s, no buyer being forward. National Insurances continue to have enquiry at 12a 9d, sellers demanding 13s Id. There have been enquiries for bouth British Insurances around 50s but sellers are asking Is 6d more. The best offer for paid-up New Zealand Refrigerating* is 10s Id, sellers asking 6d more. Contributing shares are on the market at 4s 3d, with no buyer forward. There is an unsupplied buyer of Australian Glass shares at 2Gs 9d. British Tobaccos have steady enquiry around 265, the present selling quotation being 26s 4d. There was a sale of these shares at 2Cs 1-Ja. For a considerable time, buyers ot Mosgiel Woollens have been offering £6 15s for these shares, and a seller has now come into the market at £7. There was a sale of New Zealand Drugß at 45s 9d, a closing offer of 43s 6d failing to nttract a seller. Preferred Woolworths continue to have enquiry at up to 23s 9d, but no hnsmess has rosnlted. A parcel of New Zenland Breweries fhanged hands during the week at 2os. The offer at the close of the market was. 1 d firmer, but Rollers wero then unwillinc to accept less than 25s 6d. Dunedin Breweries have an unsupplied hitver at 19s 9d. The demand for Waihis has been firminc gradvuillv and shares are nowwanted at 17s 2d, sellers asking 17s

9d. Okarit-os have eased a little further, but there was a slight improvement towards the end of the week. Sales have taken place at 9d 6d and 9s 7d, the market closing with a buyer at 9s 4d, and a seller at 9s 9d. There was a sale of King Solomons at Is lid, a later offer of Is lOd found sellers firm at 2s Id. Two parcels of Government loans changed hands, one of 1933 bonds at £99,, and one of 1937 stock at £99 los. The demand for these remains about the same as in the previous week. BANKRUPTCIES. THE PAST FOUR YEARS. Bankruptcies in New Zealand under the Act of 1930 are shown by the Government Statistician to have numbered 780 ; amount of debts proved, £827,345 ; assets realised b> official assignees, £B3,SOS. The total for 1931 was 827, of which 576 were in the North Island and .251 in ilie South Island. Deeds of assignment made during last year v.'ere 321, of which 205 were in the North Island. The bankruptcies and assignments tor the past four years, for the whole Dominion, were as follows: — Bankrupt- Assignees. jnents. 1.023 ... 1.929 ... 657 I'* 1930 ... 7SO 1931 ... 827 324 For the month of December, 1931, 5i persons were adjudged bankrupt, ot which 46 were in the North Island and 11 in the South Island; and 30 .deeds of assignment were made, of which lb were in the North Island. The total Dominion returns for December, 19.JU were:—Bankruptcies, 75; assignments 27. WELLINGTON WOOL SALE. OFFICIAL RANGE OF PRICES. OFFICIAL WIRELESS.) WELLINGTON, February 12. The official range of prices for the third Wellington wool sale, held yesterday, is as follows: — . d. <l. Merino 64-70, 60-61 Super .. 10 to 11J Average .. • • 7i to 9 J Corriedale — Average .. • • 8 to 10 Inferior .. • • 6 to 7 J Fine Halfbred SG-5S Super .. • • 9} to 11 Average ■ ■ • • 7} to 9} Inferior .. -- to 7} Medium Halfbred 50-55 Average .. • - 7J to 9$ Inferior . . ■ • 4$ to 74 Extra Fine Crossbred 48-50 — Super .. .. to 9£ Average < .. • • Ci to 8 Inferior .. .. 4 to 6 Fine Crossbred 46-48 —■ Super .. .. 7 to 81 Average .. • • 5 to <> J Inferior .. .. 3 to 43 Medium Crossbred 44-4G — Super .. .. 6 to 8J Average .. .. 4$ to SJ Inferior .. •. 2$ to 4£ Coarse Crossbred 40-44 Super .. .. , 5 to 7$ Average .. - • 4 to 4} Inferior . . -. 3 to 3| Low Crossbred 3GIO- I Super .. .. 5J Average .. .. 3i to 4$ Inferior .. .. 24 to 3$ Hoggets—--48-50 .. . . o-} to !) Fine 46-48 .. .. to 7J Medium 44-46 .. .. •( to 6| Coarse 40-44 .. .. 3$ to 3 J Lambs Down—--50-56 .. .. OS- to 8J Fine 46-50 .. .. 5? to 9$ Seedy and inferior .. 2 to Bellies and Pieces — Merino good to super ~ 6 to 7} Low to medium .. 4-J Halfbred good to super 5 to 7$ Low to medium .. 3£ to 5 Crossbred good to super 3} to 5 Low tg medium .. 1} to 3J Crutchings— Medium to good .. 3£ to 5$ Inferior to seedy .. 1 to 3 Locks— Halfbred • .. .. 2 Crossbred .. .. 1* to 2| BRADFORD TOPS MARKET. (united press association—bt electric TEIEGRAPH—COPYBIGBT.) LONDON, February 11. The Bradford tops market is quiet. Quotations are:— <l. Sixty-fours .. .. 23* . Sixties .. .. 22" Fifty-sixes .. ... 17* Fifties .. .. 12J Forty-sixes .. .. 10 Forties .. .. 9 WHEAT CARGOES. LONDON AND LIVERPOOL FUTURES. LONDON, February 11. Wheat cargoes continue firm, with prices occasionally threepence higher. Parcels arc firm, and generally threepence dearer. Spot trade is quiet. Australian exship 28s to 28s 6d. Futures are quoted as follows: Per bushel. London— s. d. February .. 24 10 June .. .. 25 4J Liverpool— s d. Per cental. March .. .. 5 4^ May .. .. 5 Cg July .. <; October .. .. 5 11$ WHEAT HELD UP IN CANADA. VANCOUVER, February 11. Shippers of 250 tons of Australian wheat, held in quarantine here failing a receipt of an Australian Government certificate that it is free from black rust, are seeking a sale in the United States. The wheat was consigued to a Vancouver milling company. PRICE OF GOLD. tomaß OFFICIAL WIRBUSSS ) RUGBY, February 11. Gold is quoted at £6 Os 9d a fine ounce. Yesterday's price was £6 0s 4d. PRICE OF SILVER. (BRITISH OFFICIAL WIRELESS.) RUGBY, February 11. Silver (pence per ounce): — Fob. 10. Feb. 11. d. d. Spot ... 19 5-16 19 5-16 Forward . 19 7-16 19J