SHAKE MARKET.

Press, Volume LXIX, Issue 20920, 29 July 1933, Page 8

SHAKE MARKET.

WEEKLY RE MEW. During Hie week markets on the v.-hole continued firm and active, and there was a good volume of business en the metropolitan exchanges. Shares in the banking, breweries frozen meat, mid gold mining sections accounted ior the bulk of the turnover, and there was substantial trading iu -Vount Lyelis and Wilson'.; Cements. There v.-as 4 decided falling off in the recorded dealings in pastoral slv- s. The tone of the market is gotxl, with steady support for most classes t;t investment securities. The following is a comparison of the daily recorded volume of business en the local exchange for the last fortnight: This Last Week. Week. Saturday .. 1.91': 3.971 Mondav .. 9.277 10.024 Tuesdav .. 1.393 i\ 84 Wednesday .. 10,00(1 0.(92 Thursdav .. 0,731 r /.--J2 Friday .. 5.903 b.'7l £ 33.375 £-K'.34 The following are the recorded dealInge in some of the more active Itocks: — Commercial Bank of Aust. ."'l3 Bank of New Zealand .. r-50 National Insurance .. ' 00 N.Z. Guarantee Corporation (M 0 Gear Meat .. .. 3UO N.Z. Refrigerating .. Y.>o New Zealand Breweries . . '.' 'iO Timaru Brewery (7,6 pel.) ::■'.so Mount Lvells . . i'OO Wilson's Cement .. 700 An analysis of (his week's (in ,-.»vt results as under (.last week's . ares in parentheses):— £ Government .. 6.340 i3.'»K)) Banks . 11,428 (13,836) Pastoral .. 141 (4,246) Refrigerating 1.945 12,387) Breweries .. 5.523 (4,545) Mount Lyelis .. 2,113 (1.631» Mining .. 2,913 (2,576.) New Zealand Government 3-'. per cent, stock due 1938-43 and 1938-52 was firm at £IOO 2s 6d. The 4 per cent, stock was dealt in as follows:---1940, £IOO 10s to £101; 1946, £lOl to £IOO 15s; 1949, £IOO to £lO 15s; 1955, £IOO to £IOO 10s; 1955 bonds, £IOO 7s 6d, and 1946 bonds £lOl 2s 6d. Auckland Harbour 6 per cent, debentures due 1941 changed hands at £104; Mount Eden 5A per cent., 1960, at £95; Dunedin City 5i per cent.. 2934, at £100; Otahuhu Borough 6 per cent, 1961, at £102; Gisborne Sheepfarmers 6.} per cent.. 1941, at £81; "Wright, Stephenson 5 per cent, perpetual stock at £B7 10s and £B6; and Auckland City 5} per cent, at £99 15s and £IOO ss. Banking-. In the banking section Commercial of Australia firmed from 16s 4d to 36s 6d—the preference had business at £8 17s 6d. Commercial of Sydney moved up to £l6 19s, £l7, and £l7 Is, and closed firmer. English, Scottish, and Australian rose to £5 3s and £5 ss. 'National of Australasia £5 paid had business at £6 ss. Australasias had improved demand at £ll 17s 6d. National of New Zealand were firm with dealings at £3 19s 6d and £4, and late buyers are offering £4 2s 6d., New South Wales cum quarterly dividend of 5s a share, declined to £3l 12s 6d and £3l 10s, but later recovered to £3l 17s 6d and £32. New Zealands were firm at prices ranging from 48s lOd to 49s 4d—the T> mortgage shares moved up to 3is. Union Banks cum dividend rose from £9 2s to £9 7s 6d. Insurance and Loan and Agency. Australian Provincial were steadv at Us 3£d and lis 3d. National showed a hardening tendency at 16s 9d, 16s lOd, and 17s. New Zealands cum dividend advanced to dealings 'at prices ranging from 51s 3d to 51s Sd. South British changed hands at 69s 3d. 69s 6d, and 70s, compared with 68s and 68s 3d last week. Dalgety and Company receded to £9 Bs, and more are available at £9 7s 6d. Goldsbroutd) iviorts dcci'n dt.)2'is. New Zealand Guarantee Corporation had dealings at 6s lid, 6s lOd, 6s 9d. and 6s Bd. New Zealand Loan and Mercantile ordinary stock was firm at £45 10s and £45. United Building Society rose sharply to 17s 9d. Frozen Meat, woollens. Coal, and Gas. Gear Meats were fairly steady at 335. Canterbury ordinary realised £9. New Zealand Refrigerating were firmer at 25s 9Jd, 15s lid, and 16s, the 10s paid fluctuated from 7s to 6s 9d to 6s lid. Wellington Woollens preference changed hands at £5 5s and £5 4s. Kaiapc-i Woollens ordinary 17s paid have improved demand at 7s. Pukemiro Collieries remained unaltered at \ 22s 6d. Westports were firm at 13s 3d. Grey Valley Collieries had dealings at 13s 6d. Stockton ordinary ■were released at 7d. Auckland Gas iully paid cum dividend showed a firming tendency at 23s 3d, 28s sd, and 23s 6d. Christchurch fully paid cum dividend scored a rise of 6d at 27s Sd. Breweries. New Zealand was the most active stock, and prices moved, between 33s 8d and 33s 4cL Staples were steady at 26s 6d. Timaru (7s 6d paid) ranged from 5s Id to 4s lOd. Tooths were fractionally weaker at 38s 6d, and more are wanted at that figure. Miscellaneous. In the miscellaneous investment section' Beath and Company Is paid remained at 5s 9d. Broken Hill Proprietary advanced to 36s 9d and 37s 3d. Consolidated Brick were firm at 4s 3d and 4s 4d. Colonial Sugars recovered from £56 10s to £57 10s. Dominion Fertilisers fell to 13s 3d, but later recovered to 13s 9d. Dominion Rubbers had business at 17s—peak price last week was 17s 9d. Dunlop Rubbers firmed to 18s 6d, but closed easier at 18s 3d. Electrolytic Zinc ordinary were steady at 23s 3d—the preference eased to 32s 6d. Farmers' Trading showed little variation at 3s lid. Milburn Lime were easier at 31s 9d. Moturoa Oils realised lid. Mount Lyelis were fractionally weaKcr at 22s 4d, 22s 3d, and 22s 2d. New Zealand Drugs remained at Css 6d. New Zealand Fanners' Co-op. 4.'. per cent, stock, due 2940, advanced to £63 10s. New Zealand Newspapers were firm at 26s 3d and 265. New Zealand Paper Mills were a shade stronger at 27s 3d and 27s 4d. Woolworths (New Zealand) preference dropped back to 36s 3d—the Victoria preference gained Is at 24s 6d. Wilson's Cements declined from 34s to 33s 3d. Gold Mining. The local turnover of 22,500 shares was made up as follows: 200 Alexander (13s 6d paid), Bell Kilgour 4700. Big River 1600, Blaekwater 450, Central Shotover 700, Cornish Point !300, j Freshford 1000. Gillespie's Beach 2200, i Golden- Dawn ' .-', Golden Point 1000, j Lawson's Flat i Is paid) 3100, Mahaki- | pawa 800. Nokomai 3900, Okarito 250, Waitahu (5s paid) 200. Alexander (13s Od paid) were Jirmer at 19s 7d, 19s 9d. and IDs 6cl. Blackr'Hters ranged from 25s Od to 275, Bell, Kilgours eased from Is 2 : UI to Is Id, but closed at Is 3d. Big Rivers moved up from Is 5d to Is Bd. Central Shotover •were dealt in at Is 2d and Is Id; Cornish Point at 6£d and 7d; Golconda at Is 2d, Is ljd, and T Id; Freshford at 30d; Kawaraus at 6d; Golden Point at 2d; Gillespie's Beach (Is paid) were firm at from 2s to Is lOJd; King Solowon were steady at 2s, imd Lawson's Flat (la paid) at Is 3d and Is 2kl. <

i Golden Dawn moved up to Lis t)d, 3s, | and 2s Bd. Mahakipawa had dealings I at 2d, Ud.andS'd; Mount David at 2s 7d and"2s Sd; Okaritos ;d 10s lOd. 10s ! 9d, and 10s lid. Waihis were firmer at 23s and 23s 3d. Grand Junction ranged from 3s 7d to 3s lid. Nokomais advanced from 4s to 4s Waitahus ; were firmer at 7s 2d and 7s 3d. , YESTERDAY'S TRANSACTIONS. Markets continued firm on call yes- :; terday and there was a good volume 1 of diversified business, with activity ! in Commercial Bank shares, frozen j meat, and gold mining. Transactions, | exclusive of vestibule business, were: I £2OO N.Z. Govt. 4 per cent bonds, 1946. I 1093 Comm. Bank of Aust. fcum ! div.L 1 23 Comm. Bank of Aust. (pret'.f teum div.). ' .") Bank of New South Wales. ; 30 Union Bank of Aust. 100 National Insurance. ] 200 N.Z. Guarantee Corpn. ! 20 t'antcrbiii'v b'rozen Meat lord.) ! 200 Gear Meat. j (JOO N.Z. Refrig. ilOs paidi. ! 200 Grev Valley Goal. .150 Westport. Coal. ■ 100 Westport-Stoekton lord.L j 400 Staples Brewery. 1 112 Broken Hill Proprietary. ; 20 Colonial Sugar. I 100 Dun lop Rubber. I 100- Mount Lye]]. j 50 Alexander 113s Od paid'. ! 1000 Bell Kiluour. I 300 Big River. i 100 Blaekwaler. j 1000 Gillespie's Beach (Is paidi. 400 Golden Dawn. 2500 Lawson's Flat (Is paidL ! 1900 Nokomai. j 100 Okarito. j New Zealand Government 4 per' cent, bonds, due 1946, were firmer,; with buyers and business at ,C 101 2s' (id; Commercial Bank of Australia! shares remained unaltered at IBs (3d,| closing quotations Id on' either side—| preference realised ,C 8 17s Gd. anck more were wanted at £8 10s. Buyers of Bank of Australasia raised their bids to £ll 17s 6d. Bank of NewSouth Wales, cum dividend, moved up [ to £32, market closing 2s tkl on either side. A late stile of Union Banks, cum dividend on 27th instant, was reported at £9 (is 3d, and buyers to-day j offered £9 Us, sellers £9 7s. I Miscellaneous. National Insurance shares moved up to 17s. New Zealand Guarantee Corporation were fractionally weaker at Cs 9d and Gs Bd, and more were offered at (Js 9d. Canterbury Frozen Meat ordinary shares realised £9. Gear Meats were firm at 335. New Zealand Refrigerating 10s paid had | dealings at 6s lOd and 6s lid, and there were further buyers at 6s lOd, sellers 7s. Grey Valley Colleries were firmer, with dealings and further buyers at 13s 6d. Westport. were steady at 13s 3d. Stockton ordinary realised 7d. Staples Brewery shares were steady at 26s 6d. sellers staying in at that price, buyers at 26s 2d. Buyers of Tooths Brewery advanced their offers to 38s Od. Broken Hid were firmer, with business at 37s 3d. and further buyers at 37s Id. Colonial Sugars advanced to £57 7s 6d and £57 10s" Dunlop Rubbers were easier, with business at 18s 3d and further sellers at 18s 4d Mount By ell were fractionally weaker, with sellers and business at 22s 2d. Alexander Mines, partly paid, realised 19s Gd. Bell Kilgour were a shade stronger, with buyers and dealings at Is 3d. Big River shaded to is 7d, and there were further sellers at that price. Blaekwaters rose sharply to 26s 3d and 275, market closing 26s 9d buyers, 27s 3d sellers. Gillespie's Beach changed hands at Is Hid and 2s, and these were buyers' and sellers closing quotations respectively. Golden Dawn wor" a shade easier at 2s Bd. Lawson's Flat changed hands at Is 2'.d and Is 3d. Nokomai advanced to ,r," p.i at 4s 6d. Okarito were fractionally firmer at 10s lid. Unlisted Stocks. Bel! Hill hardened to 4s Gd. Bell Hoopers were firmer, with dealings at BAd. 9d. and SKd, and further buyers at the highest price. Charleston Sluicing were firmer, with buyers and dealings at Is lid. AUCKLAND. [THE PRESS Spocial Service] AUCKLAND, July 28. Firm and active conditions were maintained in the investment market on the Auckland Stock Exchange this week. The volume of business was again heavy, but in comparison with the wide range of trading in the last few weeks, the conspicuous feature of dealing during the last week was the prominence of leading well tested investments, which were all strongly supported and readily placed at improving values. In addition, however, all sections o£ the market received s.,eady attention from investors, while sellers in some lines became increasingly difficult to locate. The turnover was slightly larger in the Government loans, but values showed little movement over the week, although they shared in the firmer tone. At the close interest in local body loans was generally keener, and substantial rises were again recorded, particularly in Auckland local body loans. The prominence of banks with London headquarters was the outstanding feature of the banking group. Values rose strongly for these issues, and Unions, on a substantial turnover, gained 5s 6d to £9 7s 6d, closing a shade easier at £9 6s 6d. Australasias were unprocurable at £ll 15s, while English, Scottish, t.nd Australians were lifted 5s 6d on saie to £5 5s 6d. Commercials of Australia shared in the upward movement, and were dealt in up to 16s 6d, a rise of 4d, while New Zealands firmed a penny to 49s Id after the mid-week setback to 48s lOd. New South Wales moved against the general trend, changing hands 7s 6d lower at £3l 12s 6d. Increased activity developed in insurance. All issues were slightly firmer, while South British were lifted 2s over the week, and had a sale twice at 70s. New Zealands also strengthened, and were dealt in at 51s 3d and 51s 6d, an appreciation of 9d. Considerable attention was devoted to New Zealand industrial shares. A ready market existed for New Zealand breweries, six parcels of which were placed at 33s 4d, with a rise later in the week to 33s 6d. Debenture stock of Milne and Choyce rose 6s on sale to lGs 6d. Colonial Sugars gained ground throughout the week, having a sale finally 12s 6d dearer at £57 7s 6d. The mining market was strong, the turnover declining at firmer levels. Blaekwaters advanced to 26's Cd. a gain of 6d, while Waihis improved 3d in business at 23s 3d. Waihi Grand Junctions were most active, and almost daily business was registered at an advance of 2d to 3s Bd. Metal shares were quieter rmd easier. DUNEDIN. I THE PRESS Special Sci'vico.J DUNEDIN, July 28. There has been unusual activity iu Bank of New Zealands on the Stock : Exchange during the week, no fewer than 14 transactions being recorded. . Several other banking shares turned < over, and the miscellaneous section saw some business done. The usual demand for mining shares was in evi-

deuce, and there were sales of most of the more popular lines. Eank of New Zealands sold first at £2 9s Id, and other sales took place at figures ranging from £2 as to V.'.' 9s 4d. There is now an. unsupplied buver in the market at £2 9s 2d. Commercials turned over at 10s Od. at which figure they are now obtainable. The best buying offer is 16s sd. There ;'was a sale of National Bank of New '! Zealands at £-4. further offers of the I same amount failing to attract a seller. I Unions sold ai £9 2s. and further ■ business was done at £9 7s Gd. The ! closing offer was £9 Gs 3d, sellers asking £.9 tis. National Insurances are wanted at 16s 9d. sellers remaining linn at 17s. There lias been no enquiry lor shipping shares, except Union Steam Ship n referred, which have an unsupplied I buver at £2 2s 9cl. Kaitangatas conit inued in demand at round £2 2s. jThev are now on the market at £1 Is I fid. * There was a sale of Westports at i 13s 3d, further oilers of 13s finding sellers firm at 13s 4d. Contributing New Zealand Refrigerating*, after being dealt in at Gs lOd, arc wanted at Gs 9cl, sellers demanding 3d more. Dominion Rubbers did not receive as much attention as was the case last week-. Early in the period they were sold at 17s Gd. and further business was done at 17s. They are now on offer at the latter price, no buyer coming forward. Milburn Limes changed hands at £1 Jls9d. They arc now wanted at £1 lis 3d. sellers asking Is more. Three parcels of brow- \ cries sold at £1 13s Gd. The demand is firm at £1 13s sd, sellers asking! £1 13s 3d. There has been business in Kawaraus at Gd. The market has been steady at old i buyer) and 7d i seller). Mahakipawiis changed hands at 2'.d, at which figure they can now be bought. Buyers are not offering more than l.'.d at present. Okaritos sold at! 10s 9d, and later at 10s lid. The closing quotations were Id im either side of (he latter figure. The market for] King Solomons stands round 2s, at i which price shares have been sold. There was business in I-llackwalor at £1 5s 9d, £1 (is. and £1 Gs 3d. the last figure now being' offered without, finding a seller. Three parcels of Gillesj pies were sold at Is lO'.d. and seven transactions took place at. Is lid. The ! best, offer at Die end of Die week was !Is lOd, sellers asking 2d more. Mount . Davids turned over at 2s 7d and 2s sd. I They are now on the market at 2s lid, | with no buyer forward. There has I been a good market in Nokomai:'. .which are no'v worth -lb Gd. They were sold at arious prices ratigine, I from !s to 4s Gd. and five parcels I changed hands at the latter price. .They are still in demand at 4s Gd. sellers refusing to take less than 4s lid. Big Rivers sold at l.s G'd, Is sd, ami Is 7d. Offers of Is Gid at the end of the week found sellers linn at Id more. Central Shotovers had business at Is. They are wanted now at Hid, with a seller forward at Is Id. The market for Bell Kilgours did not vary to any extent until the end of the week. One parcel changed hands at Is 2d, and there were 11 transactions at Is lid. The demand improved at the end of the week to Is 3d. seller", asking jd more. Two parcels of 4 per cent. Government stock were sold a I £IOO 10s, and there was a sale of Dunediu Citv debentures, ;">•'. per cent.. 1934, at £IOO. MR FORBES'S VISIT TC . WASHINGTON. AUCKLAND EXPORTERS NOT OPTIMISTIC. AUCKLAND, .July 20. There is no feeling of optimism among produce exporters in Auckland, concerning the forthcoming visit to Washington of the Prime Minister (the Kt. Hon. G. W. Forbes i. One exporter said that the wholesale pr..-. of butter in New York yesterday was a shilling a pound; duties amounted to 7d and 2d must be allowed for the cost of placing the butter on the market. London buyers to-day were offering !)'.d. Even if the American tariff were abolished it would be difficult for New Zealand to sell butter there. President Roosevelt's aim was to increase internal price levels, and a large quantity of New Zealand butter would lower prices. In the case of Canada an increase in the wheat and wool prices would be followed by a certain amount of change over from dairying, which later would enable more New Zealand produce to be sold, but the total would be only a small percentage of our production. Another exporter said that Mr Forbes might as well stay in London. If he obtained any concession in Washington he would have to pay dearly for it. The president of the Chamber of Commerce (Mr Turner) said that any agreement arrived at must be decisively in New Zealand's favour because the present balance of trade was heavily in America's favour and must also not be detrimental to our trade with Britain. Unless the agreement was very much to New Zealand's advantage and not. to Britain's disadvantage the move would not be worth attempting. COMPANIES REGISTERED. Notific.'ilioii of tiio ,,f n,r> fr,]. loviuj nev.' companies apju-ars in tlio current issuo of the "Mercantile Gazette": Sharman (J.) and Sons, Ltd.—ltcsiitercd as a private company July 18, ilKlJj. Ol'tico: 77G Colombo street, Cliristehurcli. Capital: £ISOO, in I.ViO i-liitrps of XI each. .Subscribers: A. V.. Sli.-irm.-in 1000. V. A. Sharman ll'io, ]!. JI. Sharman _'JU. Objects: Pork butcher:-, and incidental. Kainbo'.v Art 1);, vr.s and f>rv Cleaner: , Ltd. Registered as a private company July 'Jo, J&3.1. Office: ,'lO2 Durham street, LhriMehurcli. Capital: i'.iOO, in. 500 klihits of '.'l each. Subscribers: K. .V farrier ZIVO, M. ■J. Uowwamc tlfi, K. R"Sev,arne 117. Objceti: Dyei-N and cleaned and incidental. Klia!;i Manufacturing Co., Ltd.—Kexi-,-tered m a private cum pan v Jnlv '.'l. I'J.'VS, Office: PJ3 Lichlield direct, ChrUtcliurch. Capital: i.7>00. in 500 .'hares of .'.l each. Subscribers: Cliristchureh —K. T. fiurto,, 50, K. M. Durton ".Ofi. M. (~ IVjrton 'JO'i, S. C. Kurton 5(1. Objects; .Manufacture rr. of ven-.--iiiiV apparel, tent co\c-,- N and other article.', inaiuifactti.-eJ from cation, till;, linen, cnna.:, and incidental. o.\enbridf,'e ijliolovcr Up!,]. Ltd. Re-i,-tered July 11, lit:;;;. Capital: aiu,soo, in '-'so,rioo shares of Is 0.-icb. Subscribers; Duncdin —if. l.t. Hart 'JOOU. n. f. Harris! 1000, If. fl. White lOOi.i. W. 11. McLeed 1000, .r. V.'. Dore 1000, It. T. Sinnison 1000, 13. do L. Cites 'JOOO. Objects: To carry ou nil kinds of business in relation to niinitj?. Saltyman (S.). Ltil. —l.'e-isti red a, a private empany July 11. I<j:;::. Capital: •:;'i"", in .1000 shares of ,'J 1 each. Su l>-cribers: Dunediu —S. S:ilt; in.i n L'vjm. [,. Salt.'. i,i:. , -00. Objects: To ran-;, on the. hus'itiess of tailors, mercer:, cloth m.-inufai-tiirei'.'-. furrier-, li.-berdashers. hosiers, and dealers in textile fabrics of all ki !; .].,, milliners, and clothiers. Greymouth <";..)lf, Ltd.— Re-.'i.- icrrd July 5, IfCJ. Capital: .i'JouO, in 'JOOu shares of x\. .Subscribers- (Jrevmouth—l'. W. Shallerass, M. J. fosarty, X. B. McCallcin, A. S'niltli, L. ]■;. Casey, f. M. Donnelly, W. H. D. Coltman, 1 share each. Objects: Promote the pmc of uolf and incidental. .N'ev,- Zealand Wool and Investment Co., Ltd.—itexhtered July IS. 10;;: i. Oliice: lfo(10 Cmirfeua;, pLicc. We Hi n -ton. Capita!: i"jO,000. in 10.000 deferred shares of £1 each :md 10,000 ordinarv shares of ,t'l each. Si:bserihers: Wellington —C. Todd -JoO, A. de K. Brandon 1. !■:. A. Rati 'Joo. 11. J. .V. 1;..-. !■■•. 1. I). .V Red-rave 1. -Muriel ,\. Henham I. 1., o. McMillan 1. all deferred share oi, ieeis: liuv. .-.'ll. import, us'wrt, and d,-:,! ' in mcrehnndi-o of all kind-', e.-pe.-ially in toe I :cilin~ of wool and genera! i'l.-identa!. j I HORSE FAIR AT ASHBL'KTOX. | I t Tile top price, at the Nation il Mo:-:>a:;c and Agci>cy Co., Ltcl.'f, liuMe fair at. Ashburton vestoiday was £ll, obtained by l\tr W. C. Lowcry. Wtnchicore, fot a fonr-yoar-old gelding. There wad only a fair entry of horses. The principal sales were: Mares: Five, yrara £0!, eight vru.rs <:N , a;-'e:l Ad 10s. GeWiiifts: 'j'liree ycsi:- i'l7. lour '-.-'•■irs i'll, He-en veats i':' I L's and H'-V-l, aved '>i los. |',„iv I-..