FINANCE AND COMMERCE
STOCKS AND SHARES Market Continues Active PRICES GENERALLY FIRM Sixteen'sales, one-half of which were made late on Saturday, were recorded on the Wellington Stock Exchange yesterday, This volume of business and the length of the quotations. list were symptomatic of the continued activity of the market. Values generally were farm with a hardening in the quoted prices of a number of shares. ’ , There was a strong, demand yesterday for Government securities, mostly for the 4} and 5} per cents. The 5} per cents., February, 1937, were bid for.at £9B/10/ , ex interest, but sellers of the stock asked £99/5/-. The September maturity were fullv firm. The 5} per cents., 1936, were done late on Saturday, at f9B / l . 7 n 4 6 ! 1 „ more were wanted yesterday at £9B/10/-. Buyers of the 4} per cents., 1938, eased their bids to £95/5/-, but sellers asked New Zealands steadied to sales at 46/-. More were sought at that price, but sellers held for 46/2. The long-term mortgage shares were firm at 2i/-. national Bank of . New Zealand sold late on Saturday at 68/6. Yesterday they were quoted at 68/-,’sellers asking iO/-. Commercials of Australia, done on Saturday at 13/10J, were sought yesterday at 13/8, sellers asking 13/10. Union of Australia., sold late on Saturday at £7 and £7/0/6, were still in demand yesterday at the former figure. ■. . . , Goldsbrough, Morts .eased a point to ' 23/6, sellers 24/3. N.Z. Guarantee Corporation were firm at 4/10. N.Z. Investment, Mortgage and Deposit were wanted at 7/3, but sellers asked 8/-. Gas, insurance, and meat shares were in steady demand, with no declared sellers at'the close. Wellington Gas firmed to a sale on ’change at 30/-, and there was an unsatisfied demand at ~9/-. Huddart. Parkers were again sought at 2b/b. no sellers. Union . Steam, preference, were wanted at 19/10, but sellers held for ”°Kauri Timber were ’steady at 8/9, and Leyland-O’Brien Timbers were wanted at 17 N*Z Breweries, sold at 25/4 late on Saturday, and 25/5 yesterday, were in demand at 25/3, sellers asking 20/7. Tooths were offered at 28/-. Carlton Brewery firmed 9d. to 31/3, but sellers did not respond. ' . Colonial Sugars advanced another 10/to £43/15/-. but sellers moved up to £44/10/-. Wilson’s Cement had dealings at 29/-. and 28/10}. wante<i at 28/10, but sellers asked 29/6. N.Z. . Drugs were firm at 5«.»/4 but sellers wanted 57/6. Electrolytic Zinc, preference, firmed 4d. to' 22/-, without drawing sellers. Mount Lyells were offering at 19/9. □Yesterday’s Quotations Buying and selling quotations, at yesterday’s final call on the Wellington Stock Exchange were as follow:—
TALLOW AND HEMP London Markets Quiet The Department of Agriculture has jeccived the following cablegram, dated August 13, from the High Commissioner for New Zealand, London:— Tallow: Poor demand at auction; 652 tasks offered, of which 80 sold. Present spot quotations are:—
Hemp.: Manila—Market remains quiet but flrm. “K” grade for August-October shipment sold at £l7, and for OctoberDecember shipment £l7/10/-. August-Oe-tober shipment now quoted £l6/15/-. Sisal: Market firm. Closing values, No. 1 fair average’quality for August-Octo-ber shipment £l5/5 to £l5/10/-. New Zealand: Market unchanged. Small business has been done in good fair for August-September shipment at £l7
THE WOOL MARKET Wellington Crutchings Sale A sale of crutchings and fleece odd tnents will be hold by th.e 'Wellington woolbrokers in the Dominion Farmers’ Institute building, starting at 2 p.m. on Thursday, August 18. It is expected that a total of some 1-500 odd hales trill hctjzffexad.
PRICES STEADY Sydney Stock Exchange A GOOD TURNOVER (Rec. August 15, 9.5 p.m.) Sydney, August 15. After an extensive operation on the After, extensive operations on, the Stock Exchange for the past fortnight, conditions returned to something like normal to-dav. The turnover was satisfactory. and prices showed little alteraSales: —Bank of Australasia, £11; Bank of New South Wales. £29/18/6: ditto, Melbourne register £29/17/6; Colonial Sugar, • £49; United Insurance, £B/15/-; Mercantile Mutual Insurance, 16/7}; Millaquin Sugar. 26/6; Australian Gas, A, £6/14/-; Tooth’s. 30/6: Toohey’s, 19/9: Winchcombe Carson. 22/6; Dunlop Perdriau. 13/5; British Tobacco 32/6; Mount Lyell. 21/9; Broken Hill Proprietary. 18/9: South Broken Hill. 47/-. Commonwealth bonds, 4 per cent., 1938, £99/5/-; 1941, £99/5/-; 1944. £99/10/-; 1947 £99/10/-; 1950, £97/16/3 : 1953, £9B/5/-; 1955, £9B/5/-: 1957. £(>B/5/-: 1959, £9B/10/-; 1961, £9B/17/6. Melbourne, August 15. Sales. —Commercial Bank of Australia. 15/6; National Bank of Australasia. £t» paid, £5/18/-; • Goldsbrough, Mort. 26/10}; Carlton Brewery. 35/-; Australian Glass, 41/3: Dunlop Perdriau, 13/7; Electrolytic Zine. 16/o; North Broken Hill. 66/-; Sulphide Corporation. 10/4: Mount Lyell, 21/9. DEALINGS ON. ’CHANGE Sales in the Dominion The following sales were recorded on . the stock exchanges of the Dominion yesterday : — WELLINGTON.
CONDITIONS IN U.S.A. Decline in Wholesale Prices Commodity prices are still declining, wrote the New York correspondent of the “Economist” on June 23. The Bureau of Labour Statistics index for May fell lf per cent.; as usual, the bulk of thd decline—this time 51-3 per cent.— occurring in agricultural products. The spread between agricultural and nonagrieultural prices is now so wide that farmers are able to buy almost nothing beyond the necessities of life, and, even with fair crops, the low prices mean that in many cases taxes and interest on mortgages have to wait., This week the largest mail-order concern, Sears, Roebuck and Company, which sells goods largely to farming communities, had to omit its dividend payments. Farm implement manufacturing plants are virtually idle. While farm purchasing power is thus severely crippled, actual distress on the farms is rare, and it is only in the cities that there is "any need for doles in any form. The Bureau of Labour commodity price index follows:— Index Numbers of Wholesale Prices. (1926=100.)
The steel trade has dropped- to around 16 per cent, of capacity and prices are weak. Some mills are closing down altogether. Little hope of recovery before August is held out, unless the Reconstruction Finance Corporation should begin large loans to the railroads for use in purchasing new equipment. The motor industry has been disappointing, and, while May brought an increase in building contracts, the structural steel industry is using comparatively little steel at this time. Railroad traffic is rising slightly, and it is likely that the 25 to 30 per cent, drop in traffic (compared with 1931) of the first six months of the year will be improved upon somewhat in the final six months. Electrical output is still running from 10 to 12 per cent, under last year. Employment in May for leading industrial groups fell 3.2 per cent, from April, according to the Bureau of Labour. the bureau’s index standing at 59.7, compared with 75.2 for May of last year. CUSTOMS REVENUE. ' The Customs revenue collected at the port of Wellington yesterday totalled £12586-
Buyers. tellers NJZ. GOVT. LOANS— £ s d / a 8 a 4| b.c. Bonds, 1938 ... 9o 5 0 51 P.O. ditto. 1936 ... 98 10 0 ■—— 5i p.c. ditto, Feb., 1937 +98 10 0 5t p.c. ditto, Sep., 1937 101 7 6 — — +} p.c. Insc. Stk., 1938 95 5 0 95 15 0 5i p.c. ditto, 1936 ... 98 12 6 90 5 0 5? p.c. ditto, Feb., 1937 98 10 0 +99 5 0 5J p.c- ditto, Sep., 1937 101 0 0 101 12 G 5j p.c. ditto. 1941 ... 97 0 0 — DEBENTURES— Eastbourne Boro., 6} 97 0 p.c., 1952 — 0 Hauraki Plains, 52 px., 1959 — 97 0 0 Makerua Drn. Bd., 6 p.c., 1950 — 95 0 0 Mt. Albert Boro., 5J p.e.j 1963 96 0 0 — Sit. Eden Boro., 5} p.c., 1961 96 0 0 — BANKS— Australasia w- • ' L 9 15 0 Commercial Aust., ord. 0 13 8 Q 13 10 Eng., Scot and Aust. 4 0 0 ■ 0 3 10 0 0 2 6 o Ditto, long term 1 7 0 Unions of Aust 7 0 0 — FINANCIAL— Goldsbrough, Mort ..13 6 1 4 3 National Mortgage ... — , 1 10 0 Ditto, “B” <116 0 — N.Z. Guar. Corp., ard. 0 4 10 N.Z. Invest, Mortgage and Deposit 0 J 3 0 8 0 N.Z. Loan & Merc., ord. 38 0 0 45 0 0 Wgtn. Invest., T. & A. 0 6 9 GAS— 0 Qttk . i — INSURANCE— 0 — 0 ■ _u Queensland 2 0 0 — MEAT PRESERVING— Gear 1 12 0 N.Z. Refrig. (£1)'.... 0 11 3 •— Ditto (10/-) 0 4 3 "W— Wgtn. Meat Exp., pref. 0 12 6 —— Ditto, ord 0 3 8 — TRANSPORT— Hnddart, Parker, ord. 1 6 6 —- Union Steam, pref 0 19 10 1 0 6 TIMBER— 0 7 6 9 Leyland, O’Brien .... 017 6 — BREWERIES— Carlton 1 H 3 New Zealand 1 5 3 1 5 7 1 8 0 MISCELLANEOUS— British Tobacco, ord. 1 8 6 —- Colonial! Sugar 43 15 Dental and Medical ... 0 5 0 0 44 10 0 Dunlop Rubber 0 11 9 Electro. Zinc, pref. .. 12 0 —• National Electric ...i. — 0 8 10 N.Z. Drug 2 15 0 2 17 6 Sharland & Co., ord. . 0 14 0 w> Wilson’s Cement ..... 1 8 10 1 9 6 OIL— 6 0 1 9 MINING— Alexander ••••••»••«• 0 13 0 Blackwater «<••••••.. — 0 13 Q Golden Dawn 0 4 9 King Solomon ........ 0 1 7 0 1 10 Mahaklpawa 0 0 3 . — Mt. Lyell — 0 19 9 0 8 11 Waihl 0 15 9 ___ Big River ............ — 0 1 6 +Ex. Interest.
Mutton—■ Fine ......... Fair to good ........ Dark to dull 23/21/- to 22/6 18/- to 19/Beef— Sweet and/or mired 22/6 to 24/i Fair to good 19/6 to 22/6 Dark to dull 17/6 to 18/6 Mixed— Fair to good 19/6 to 21/6 Dark to dull 17/6 to 18/6 Gut, etc 16/6 to 18/-
Sales on ’Change: £ s d Wellington Gas; ord ,... 1 10 0 Bank of New Zealand 2 (5 0 King Solomon Mining 0 1" Mahaklpawa Mining 0 0 Sales reported: N.Z. Govt. 5} p.c. Stock, 193(1 .. •98 17 1'6 Commercial Bank of Aust., ord. - •0 18 10} National Bank of N.Z •3 8 0 Union Bank of Australia *7 0 0 Ditto *7 0 0 Bank of New Zealand •2 5 9 Ditto *2 .5 11 Ditto 2 G O New Zealand Breweries ... ♦1 5 4 Ditto 15 5 Wilson’s Cement 19 0 Ditto 1 8 10A •Late sale Saturday. AUCKLAND. j £ s d Commercial Bank of Aust., ord. 0 13 8 Ditto, pref. 0 16 0 National Bank of N.Z. 3 8 6 Bank of New South Wales 26 15 0 Bank of New Zealand ....’. 2 6 3 NJZ. Refrigerating, 10/- paid ...7 0 4 5 Taranaki Oil 0 17 Union Oil 13 6 Wilson’s Cement ........ 18 9 Ditto 19 0 Golden Dawn 0 5 0 Mahakipawa 0 0 5 " Okarlto 0 8 11 O 15 1A CHRISTCHURCH. \ Commercial Bank of Aust 0 13 7 Bank of New Zealand 2 6 3 N.Z. Refrigerating, 10/- paid .... 0 4 4 Dunlop Rubber 0 11 11 Mount Lyell 0 19 6 Golden Dawn 0 5 1 Ditto 0 5 2 Ditto (3) 0-5 1 Golden Point (4) 0 0 7 Mahaklpawa (2) 0 0 3} Okarito (2) 0 8 9} Ditto 0 8 9 Colonial Sugar 44 10 0 Sales reported— Eng., Scot., and Aust, Bank .... 4 2 6 National Bank of N.Z. .; 3 10 0 Bank of New South Wales, cum div *26 15 0 0 5 0 N.Z. Guarantee Corporation N.Z. Breweries 15 5 Mount Lyell 0 19 7 N.Z. Refrigerating, 10/. paid (2) 0 4 5 ♦Late sale Saturday. DUNEDIN. Golden Point* r. £ s. d. .007} do. . 0 0 •Late Sale Saturday.
May, Apr., 1931. 1932. May, 1932. AU commodities .. 73.2 65.5 64.4 Farm products 67.1 49.2 46.6 Foods 73.8 61.0 59.3 Hides and leather products 87.6 75.0 72.5 Textile products .. 67.4 57.0 55.6 Fuel and lighting materials 65.3 70.2 70.7 Metals and metal r products ' .. 85.0 80.3 80.1 Building . materials 80,0 72.5 71.5 Chemicals and drugs 80.5 74.4 73.6 House - furnishing goods .. 86.8 76.3 74.8 Miscellaneous 70.5 64.7 64.4 Raw materials 66.5 55.5 53.9 Semi - manufactured articles 69.8 59.6 58.1 Finished products 76.9 71.1 70.3 Non - agricultural commodities .. 74.5 68.9 68.1
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/DOM19320816.2.144
Bibliographic details
Dominion, Volume 25, Issue 275, 16 August 1932, Page 12
Word Count
1,987FINANCE AND COMMERCE Dominion, Volume 25, Issue 275, 16 August 1932, Page 12
Using This Item
Stuff Ltd is the copyright owner for the Dominion. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.