COMMERCIAL

Press, Volume LXXVIII, Issue 23771, 17 October 1942, Page 6

COMMERCIAL

STOCK EXCHANGES

SECOND LIBERTY LOAN

The Stock Exchange members again report good response to the new second Liberty Loan, the total to date being £60,000. Throughout the week the share market has been buoyant with some sharp rises to be recorded both in Australian and New Zealand shares. Some stocks to improve were Bank of New Zealand. National Insurance, South British Insurance, Broken Hill Proprietary, G. J. Coles, and Colonial Sugars. Sales were well spread and their volume would have been greater had there been mm® sellers. Bank of New Zealand, which yesterday announced its dividend, had business at Is 3d higher. Union Banks confirmed the recent improvement upon a sale of 25 shares with further buyers at £7 7s and sellers at £7 8s 6d. South British improved a further 6d. New Zealand Breweries have also improved 6d during the week. Beath and Company have been active on a turnover of 700 shares. Broken Hill Proprietary maintained its advance with a further sale at the unchanged price. Booth, Macdonald preference shares have become active, three parcels changing hands. Morris Hedstroms have improved, buyers 20s 6d, and New Zealand Drug Company are strong with buyers at 77s 6d. Sales on ’Change: Listed Stocks—2oo Bank of New Zealand, 42s (2); 25 Union Bank of Australia, £7 7s. Sales Reported: Listed Stocks —200 South British. Insurance, 64s 6d; 136 Kaiapoi Woollens (7s pd.), 6s 10id; 400 Beath and Co., 225; 100 Booth, Macdonald (pref.. cum div.), 6s lid: 500 Booth Macdonald (pref., cum div.), 7s; 300 Broken Hill Pty. (late sale Friday), 39s 9d; 100 Mount Lyall, 27s 9d. * AUCKLAND Sales. —War Loan, 1/10/53, £92 15s; Comm. Bank, 14s 8d; National Bank of N.Z., 455; National Insurance, 21s 3d; Farmers’ Auctioneering (A pref.), 23s lid; United Building, 20s; Northern Steam, ss; A C.1., 48s; Colonial Sugar, £52; Consolidated Brick. 7s 6d; Reid Rubber (new issue), 22s 6d. WELLINGTON Sales.—3l p.c. Stock, 1956-59, £lOl 10s; 4 p.c., 1943-46, £IOO 10s; 4 p.c. Bonds, 1943-46, £IOO 10s; National Bank of Australasia. £ll 10s; National of N.Z., 455; Wellington Investment Trustee, 7s 6d; National Insurance, 21s 3d; South British, 645; Auckland Gas, 6s 9d; Christchurch Gas, 22s 8d; Broken Hill, 39s 9d. DUNEDIN Sales . Reported.—National Insurance, 21s; South British, 645; Union Bank, £7 10s; N.Z. Refrig, (cont.), 10s 3d.

GRAIN AND PRODUCE

CANTERBURY MARKETS

Merchants report that the main feature of the grain and produce trade is the almost complete lack of interest by the North Island for small seeds. i about this time there is a good deal or northern inquiry for sowing. One reason given is that the scarcity of superphosphate is affecting the establishment of new pastures and another is that labour for this work is very scarce. Although the Christchurch wholesale market for small seeds is lifeless there is a very fair retail trade. More potatoes came to the surface with the arrival of the October (the final) increment. but it is thought that stocks are now very small. Merchants report that the military are not lifting supplies with any undue haste, a hopeful Indication that the forces will not go short until the arrival of the new crop. Restaurants and hotels have been enabled to secure supplies. The following quotations are for produce on trucks unless otherwise stated, and approved by the president of the Grain and Produce Merchants Association, although with the lack of produce offering the quotations are largely nominal; — „ „ Wheat (final payment).—Tuscan, 6s 2d, Hunters. 6s 4d: Pearl. 6s 6d; Marquis, 6s 8d (all f.0.b.). .. Oats.—A Cartons, 3s 6d, Bs 3s 3d: Algerians. 2s 6d to 2s 9d; Duns, 3s to 3s 6d a bushel. . . . Italian Ryegrass.—4s 9d to 5s a bushel, perennial, 4s to 4s 6d. White Clover—To 2s 4d per lb for farmers* dressed. Cocksfoot—lOd to Is Id per lb for good lines. Cowgrass.—Up to Is. Chaff.—£4 to £4 ss. according to station, a ton. Peas.—6s 3d to 6s 6d a bushel. Potatoes —Buttons and King Edwards, £ll 12s 6d a ton: whites and Dakotas, £ll 2s 6d f.0.b., sacks in. Farmers have experienced difficulty in securing their superphosphate supplies promptly, and this has inconvenienced them in the sowing of their crops. At the last jneeting of the Primary Production Council the request was made that the position of supplies should be notified at the bottom of this report each week in "The Press’* to enable farmers to arrange their sowing accordingly. The report yesterday afternoon was that the minimum time for delivery for orders placed yesterday was three weeks.