FINANCE and COMMERCE.

Dominion, Volume 24, Issue 20, 18 October 1930, Page 12

FINANCE and COMMERCE.

STOCKS AND, SHARES , / Wellington Exchange A STEADY DEMAND The dewand tor shares was fairly strong yesterday and the bids recorded disclosed firmness. A good deal of attention was devoted to the miscellaneous group, but there was not much business doing. Five sales were recorded on the Wellington Stock Exchange yesterday. Government securities were quiet, the demand being confined to the 5i per cents. (1041), for which £95/15/- was bid. Devonport Borough 6 per cents. (1936) were in demand at £lOO/2/6, and Wellington Racing Club debentures were again wanted at £lO4. There was a moderate demand for bank shares and values generally were firm. Bank of Australasia were wanted at £ll 10/-, or 5/- below the last sale. Australian Bank of Commerce at 20/- were Od. higher; I English, Scottish and Australian Bank advanced 3/6 to £5/11/-, but National Bank of New Zealand were unchanged at £5/8/-: Bank of New South Wales were in demand at £34/5/-. or 10/- below the previous sale. Bank of New Zea and were up sd. at 53/10 with a sale at 54/1. Union Bank shares’ on the Melbourne Register were offered at £9/17/6. Dalgety and Co. were in demand at £B, or-10/- under the last sale; Goldsbrough Mort and Co. were steady at 22/6; New Zealand Guarantee Corporation were unchanged at 7/3. and New Zealand Investment Mortgage were firm at 10/-. National Insurance 'were steady at 13/10, but New Zealand Insurance were 3d. higher at 40/9. Wellington Gas were a shade firmer at 28/4; Iluddart Parker, ordinary, were wanted at 20/-: New Zealand Breweries at 44/0 were down 2d., and Tooth’s Brewery were* also 2d. lower at 23/-. Australian Glass were in demand at 25/- the last sale recorded being at -</ , ' British: Tobacco sold at 33/6 and here was still a buyer at ‘he price. Philp and Co. were in demandl at -9/ . Colonial Sugar were firm at £3l. Dornin ion Investments continue in I goo 1 demaud ■ t 21/0 witli no sellers Electrolytic mne were 3<l down at 17/0; Holden’s MotorZeJe sd. better at 39/4 Taranaki Oil were a shade firmer at -/a. Yesterday’s Quotations Buying and selling quotations at -the final call yesterday on the Wellington Stock Exchange were as follow:— f Buyers. Sellers.

FEILDING STOCK SALE Decrease in Prices Felliling. October 17. Smaller yardings and decreased prices all counit, were the features of the stock Bale to-day. Buyers were very reluctant to bid up and the general impression was that vendors will be compelled to accept lower prices for some time to come. 2! smaller yarding of dairy stock of lesser quality did not attract good prices. The best springing heifers offering sold at £lO 10/-. and prices ranged from £5/5/- up to that figure. Springing cows sold up to £B. and cows in milk from £4 to £6. Fat sheep were down considerably in price. Woollv hoggets, best weights. 23/to 24/6; good 20/0 to 22/9; poor quality, 17/-: shorn hoggets. 20/-: b.f. hoggets, woolly. 18/-: shorn. 15/- to 15/11. Fat ewes, woolly best weights. 21/- to 25/0; good to 20/-; poor, 17/1; shorn, best, 18/3; maiden. 10/0: lighter. 16/3 to 16/6. Fat wethers, woolly best, 25/- to 27/8: ■horn. IS/- to 23/-. Store Sheep.—Ewe hoggets, best. 2../1 to 23/10; poor. 17/6: b.f. hoggets. 14/u: empty BWOH* 17/6. Fat Shorthorn bullocks. £l2/10/-; prime P.A. cows, heavy. £lO/7/6 to £lO/17/(»; Shorthorn cows, .£ 10/5/-. The best prices offered equalled 35/- per 1001 b. Stores, four and five-year P.A. bullocks. £ll/4/-, Jersey heifers, £4 to £5/5/-. A wellgrown line of Jersey heifers was passed >t £6/2/6. SALE OF CITY SECTIONS Gordon Harcourt, in conjunction with Esmond Greig, will sell by public auction to-dav at 2.30 p.m., on the estate, four ' magnificent building sites and 10-roomed residence, situated just off Hill Street, and being nt the end of Selwyn Terrace or approached by Hawkestone Crescent. The sections to be sold arc In an exceptionally good locality, with a pleasant, outlook. They arc practically level, and this sale offers an opportunity to the business man of acquiring a home site within three minutes of Lambton Quay. CUSTOMS REVENUE. The Customs revenue collected at. the port of Wellington yesterday totalled 60553. AUCTION SALES ’ TO-DAY. Hotel Majestic, Parapnraumu, 2 p.m.— Sale seaside sections (S. G. Nathan). 97 Panama St., 2.30 p.m.—Sale sections and 10-roomed residence (G. Harcourt and Esmond Greig). 927 Buahine St., Palmerston North, 12.30 p.m.—Sale timber plant (J. L. Bennett, Cr. Itaine and Friend Streets, Katorl, 2 p.m.— Salo furniture, etc. (Doherty Auctioneering Co.) TUESDAY. dhwi^Yards.— Special Cattle Sole (A. &

DEALINGS ON ’CHANGE Yesterday’s Business DOMINION SALES The following sales were reported on the Stock Exchanges of the Dominion yesterday

RISE IN BANK SHARES A Month’s Comparison During the past fortnight there has been an appreciable Improvement in share value, particularly bank shares. A few other shares have advanced, but the key to the stock market movements is furnished by bank shares. In the table appended the actual prices realised on the Stock Exchanges of the Dominion at the end of last month and this week compare as under:—

A few other shares have improved during the same period. Thus Goldsbrough Mort and Co. have risen from 17/4 at the end of last month to 22/3, a rise of 4/11; British Tobacco have risen from 28/- to 34/-, an Increase of 6/-; Colonial Sugar have gone up from £29/15/- to £3l/17/6, a rise of £2/2/0, and Mount Lyell have risen from 15/- to 18/2, an Improvement of 3/2. The rise adds considerably to the aggregate value of the shares issued, and dealing only with the banks quoted above the position is as under: — Aggregate No. of increase, shares. £ Australian Bank of Commerce 2,208,000 220,800 Bank of Australasia . 900,000 Commercial of Aust. . 4,000,000 duO.OOO Bank of New Zealand 3,750,000 G 50,200 National of N.Z. SOO,OOO 460.000 Bank of N.S.W 375,000 1.734,370 Union Bank 800,000 . 1,400,000 English, Scottish and Australian 1,000,000 32a,000 National of Australasia, £lO ;... 200,000 ToO.OOO Do., £5 600,000 405,000 The aggregate appreciation in the value of the shares of the nine banks named over the fortnight is £7,476,425. which must be very pleasing to the holders of the shares. CITY PARKING STATION New Wellington Company Perpetual Park and Super Service, Limited Wellington, Ims been registered witli a nominal capital of £50,000 in 20,000 ordinary shares and 80,000 cumulative preference shares to pay 74 per cent., and convertible at holders’ option into ordinary shares at any time within two years. The objects of the company are to erect nnd maintain a parking station in Harris Street, in the City of Wellington. Subscribers are:— R.'ll. Nagle, 2000 shares: R. G. Anderson. 2009; 11. R. Painter, 2000; H. A. .Tones, 3000; S' J. 11. Sa well. 2000: H. A. Bown, 2000: and A. V. Swanson, one share; all ordinary shares. , GUINNESS DIVIDEND Expectations of a good showing by Arthur Guinness. Son and Company, Limited. the Dublin brewers of stout, are realised in the figures accompanying the final dividend announcement. The dividend is at the same rate as for the previous year, namely, 15 per cent., with a bonus of 5 per cent., making 3v per cent, in all for the year, less income tax. as is now the company’s practice; but the ad attion to the reserve fund is in place of £lOO.OOO. and £35.000 has been transferred to depreciation, while the balance remaining to be carried forward Is increased to £807.435. as compared with £642 357. From this showing it is evident that profits have increased in a satisfactory manner under adverse conditions of general trade depression _

N.Z. GOVT. LOANS — £ s. d. £ S. d. 4, p.c. Insc. Stic., 1038 5i p.c. ditto, 1033 ... 5+ n.e. ditto, 1041 ... 95 15 0 99 100 15 0 0 0 5} p.c. ditto and Bn ds, 1933 • • — 99 0 0 4i p.c. Bonds, 1941, 1939, 1038 — 99 15 0 BEBENTURES— Well. Racine Club .. iv* 0 0 N.Z. Breweries (stock) 1 1 0 1 2 0 Devonport Boro., 9 P-c ; , 1930 100 2 6, — Palmerston N., 0 p.c., 1941 — 101 10 0 Kangltikei Boro., 6 p.c., 101 10 o 1944 BANKS— Australasia 11 L 1C 1 0 — Aust, of Commerce .. 1 0 0 Commercial Bank Co. (Sydney) English, Scot. & Aust. 5 ii 0 10 National of N.Z 5 8 0 Nat. A/asia. (£5) ... — 6 10 New South Wales ... 34 5 0 3u New Zealand 2 13 10 2 14 Ditto, long term — 7 Union of Australia .. — 10 2 fl Ditto (Mclb. register) 9 17 6 — FINANCIAL — Dalgety and Co 8 0 0 — Goldsbrough Mort .. 1 2 6 N.Z. Guar. Corp, (ord.) 0 7 3 •0 7 9 N.Z. Invest., Mtg. and Deposit 0 10 0 Well. Invest. T. & A. —- 0 11 0 GAS— Auckland — 1 3 6 Wellington (ord.) ... 1 8 4 19 0 INSURANCE— 1 National 0 13 10 0 14 7 New Zealand 2 0 9 — MEAT PRESERVING — Gear . : —: \ — 1 16 fl N.Z. Refrigerat. (10/-) — 0 3 TRANSPORT— Huddart, Parker (ord.) 1 6 0 Ditto (pref.) — 0 19 9 P. and O. stock ■ — 2 6 3 COAD— Waipa 0 15 5 T 174 BEKNational — 0 10 0 BREWERIES — New Zealand 2 4 Staples and Co. ..... —— 2 0 0 Ward and Co 0 3 0 —— Tooth's 1 3 0 — MISCELLANEOUS— Aust. Glass (ord.) ... 1 5 0 British Tobacco (ord.) 1 13 6 1 14 fl Burns, Philp 1 9 6 1 11 G Colonial Sugar 31 0 0 31 15 0 Dental and Medical . —— 0 12 0 Dominion Investments 1 1 6 — Electro. Zinc (prof.) . 0 17 6 0 18 fl Holden’s Motor Bldrs. 0 9 0 0 10 0 Howard Smith lord.) —— 0 12 fl National Electric ... 0 8 3 0 9 6 N.Z. Drug 2 17 3 3 2 6 Sharland & Co. (pref.) 0 18 fl —- Taranaki OH 0 2 3 —— Wairarapa Farmers’ (pref.) Wilson’s Cement .... — 0 14 0 1 19 4 — MINING— Mount Lyell 0 18 6 •Ex dividend.

WELLINGTON. Bank of New Zealand .... Ditto £ s. d. 2 13 6 2 14 1 British Tobacco 1 13 6 Holden's Motor Body Builders .096 1 19 6 AUCKLAND. £ s. d. Glaxo debentures 90 5 0 Commercial Bank of Australia .. 0 18 6 Do 0 18 7 Nat. Bank of N.Z. (late sale 5 10 0 Bank of New Zealand 2 14 3 Do 2 14 6 Union Bank ..... 10 2 6 Auckland Gas ............ 13 3 Do , 13 2 Australian Glass 1 6 6 Do , 16 9 Electrolytic Zinc, pref. (2) . 0 18 3 Milne and Choyce 13 0 0 2 7 Do 0 2 9 Mount Lyell 0 18 7 Do ..... 0 18 8 Huddart-Parker 1 7 6 Wilson's Cement 1 19 9 CHRISTCHURCH. £ s. d. N.G. Govt. Bonds. 5} p.c.. 1933 (2) 100 0 0 Nat. Bank of Australasia (£10 paid) 12 15 0 E„ S. and A. Bank 5 14 0 United Building Society ... 0 15 3 Do. (2) O' 15 5 N.Z. Refrigerating (10/- paid) ..030 British Tobacco 1 13 8 Wilson's' Cement 2 0 0 Sales reported— Bank of N.S.W. (2) 34 10 0 Union Bank of Australia ... 10 0 0 British Tobacco , 113 6 Do ..... 1 14 0 Mount Lyell 0 17 11 Do 0 18 9 Bank of New Zealand (2) . 2 14 9 United Building Society (odd parcel) ■ 0 15 5 DUNEDIN. Sales renorted— £ s. d. National flank of N.Z ..... 5 10 0 Kaitangata Coal 0 2 0 Goldsbrough Mort 1 2 9 N.Z. Farmers’ Fertiliser .. ..... 0 17 6

Sept, price. £ s. d. Price now. £ s. d. Rise. £ s. d. Aust. Bank of Commerce ... 0 18 0 1 0 0 0 3 0 Bank of Australasia 11 0 0 11 15 0 0 15 0 Com. Bank of Australia ... 0 14 fi 0 19 0 0 4 « Bank N.Z 2 10 0 2 13 6 0 3 (1 Nat. of N.Z. .. 4 17 6 5 9 0 0 11 () Bank N.S.W. . 30 0 0 34 12 G 4 12 6 Union Bank .. 8 10 0 10 5 0 1 15 0 Eng., Scot, and Australian .. 5 6 6 5 13 0 0 6 0 Nat. of Aust. £10 paid ... 10 2 6 13 17 ft 3 15 0 Do.. £5 paid . 6 12 G G 6 0 0 13 0